The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.

H•• C•••••••• L•••••• F•••

Business development companymanaged by H•• A•••••••• L••Non-traded· NEW YORK, NY

A non-traded business development company, managed by H•• A•••••••• L••, holding $26B across 393 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$26B
Schedule of investments, 10-Q and 10-K
Borrowers
393
Schedule of investments, 10-Q and 10-K
Mark on cost
99.1¢
Schedule of investments, 10-Q and 10-K
First lien
46%
Schedule of investments, 10-Q and 10-K
Schedule of investments (1,034)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $281M
    on non-accrual, 7 borrowers

    7 borrowers on non-accrual, $281M principal; the largest is P••••• B•••• L•• ($111M).

    Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.

    FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen P••••• B•••• L•• →
  2. $121M
    newly on non-accrual

    2 borrowers newly placed on non-accrual in Q2 2026, $121M principal: P••••• B•••• L•• ($111M), F••••••••• A••••••••• U• C••• ($9.78M).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open P••••• B•••• L•• →
  3. 102.3¢ → 99.1¢
    book mark on cost

    Marked its book down from 102.3¢ to 99.1¢ on the dollar in the quarter to Jun 30, 2026.

    Q2 2026 · The whole portfolio was marked down; net asset value follows.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
  4. 26 below 80¢
    $509M principal

    26 positions across 19 borrowers marked below 80¢ on cost, $509M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
  5. 402 → 393
    borrowers

    Lost a net 9 borrowers in the quarter to Jun 30, 2026, to 393.

    Q2 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
Every headline figure, and the identifiersCIK 1838126 · file 814-01431Show
Fair value
$26B
as of Jun 30, 2026
Principal held
$30B
debt pieces, the filer's figure
Cost
$26B
99c on cost, debt pieces
Unfunded
$2.8B
commitments not yet drawn
Positions
1,034
393 borrowers
First lien
46%
97% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
509
52 sponsors financed
Portfolio through time
Fair value by quarter end$26B as of Jun 30, 2026
Dec 31, 2022$5.7B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$26B39399c101512 bp
Mar 31, 2026$27B402102c99550 bp
Dec 31, 2025$27B412101c114515 bp
Sep 30, 2025$25B410101c92520 bp
All 15 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$22B404101c79516 bp
Mar 31, 2025$20B377101c66525 bp
Dec 31, 2024$34B335100c120534 bp
Sep 30, 2024$14B290102c53557 bp
Jun 30, 2024$12B273101c49569 bp
Mar 31, 2024$10B252101c53582 bp
Dec 31, 2023$10B251101c39582 bp
Sep 30, 2023$7.7B224100c26576 bp
Jun 30, 2023$7.0B215100c25570 bp
Mar 31, 2023$6.7B21399c19568 bp
Dec 31, 2022$5.7B20198c18558 bp
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Mar 31, 2026
1,065 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
G••••• M•••• R•••••• L••unstated lien unstatedNot disclosed$0
0c
Dec 20, 2031
T••••••••• C•• L••unstated lien unstatedNot disclosed$0
0c
Feb 13, 2031
E••••• R••••••• C••••• T••••• L••equity equityNot disclosed$0
0c
E•••• L•• P••••••• J••••••••• I• L••warrants equityNot disclosed$0
E••• E••••• L••warrants equityNot disclosed$0
2••• M••••• I•••unstated lien unstatedNot disclosed$0
0c
Mar 14, 2029
I••••• P••••••••• I•••unstated lien unstatedNot disclosed$0
0c
Nov 21, 2031
T•••••• A••••••••• C••••unstated lien unstatedNot disclosed$0
0c
Mar 10, 2028
B•••••• S••• S•••••• D••••• P•••••• L••unstated lien unstatedNot disclosed$0
0c
Aug 28, 2030
E••• E••••• L••warrants equityNot disclosed$0
A•• L•••• H•••••••• L••unstated lien unstatedNot disclosed$0
0c
Aug 13, 2032
T•• O•• G•••• H••••••••• I••• • B••warrants equityNot disclosed$0
0c
V•••• B•••• A•unstated lien unstatedNot disclosed$0
0c
Oct 29, 2030
V••••••• C••••• H••••••• G• L••equity equityNot disclosed$0
T•••••• H•••••••• I•••equity equityNot disclosed$0
I•••••••• M•••••••• A••••••••• L••unstated lien unstatedNot disclosed$0
0c
Aug 25, 2028
C••••• S•••••••• A••••••••• I•••unstated lien unstatedNot disclosed$0
0c
Aug 7, 2031
V••••••• C••••• H••••••• G• L••equity equityNot disclosed$0
H• I••••••••• I••• I•••unstated lien unstatedNot disclosed$0
0c
Nov 12, 2030
N•••••• G•••• L•••• 4• S•••••••unstated lien unstated$2.8M$0
0c
Feb 5, 2032
C•••••• R•••••••• M•••• L••unstated lien unstatedNot disclosed$0
0c
Jul 3, 2028
C••••• T••••• I•••unstated lien unstatedNot disclosed$0
0c
May 1, 2030
N•• D••••• P•••••••• I••unstated lien unstatedNot disclosed$0
0c
Sep 10, 2030
C••••• S•••••••• A••••••••• I•••unstated lien unstatedNot disclosed$0
0c
Aug 7, 2031
A••••••• B••••• I•••unstated lien unstatedNot disclosed$0
0c
Jul 26, 2030
A•• N•••• L•••••• • A• O••••••• S•••••unstated lien unstatedNot disclosed$0
B••••• U• B•••• L••unstated lien unstatedNot disclosed$0
0c
Oct 1, 2029
N••••••• I••••••••• H••••••• I•• 1•preferred equity equityNot disclosed$0
0c
A••••••• B••••• I•••unstated lien unstatedNot disclosed$0
0c
Jul 26, 2031
C••••• S•••••••• A••••••••• I•••unstated lien unstatedNot disclosed$0
0c
Aug 7, 2031
C••••• H••••••• L••unstated lien unstatedNot disclosed$0
0c
Sep 26, 2031
E••• B••••• I•••unstated lien unstatedNot disclosed$0
0c
Jul 31, 2031
H• I••••••••• I••• I•••unstated lien unstatedNot disclosed$0
0c
Nov 12, 2030
I•••••••• M•••••••• A••••••••• L••unstated lien unstatedNot disclosed$0
0c
Aug 25, 2028
P•••••• H•••••• C••••••• I•••unstated lien unstatedNot disclosed$0
0c
Jun 27, 2029
J••• P•••••••• L••unstated lien unstatedNot disclosed-$1,000
11c
Nov 28, 2031
B••••••••• T••••••••• I•••unstated lien unstatedNot disclosed-$1,000
100c
May 15, 2028
P••••••• T• B••••••• L••unstated lien unstatedNot disclosed-$4,000
80c
Nov 1, 2027
Y•• E••••• L••unstated lien unstatedNot disclosed-$8,000Apr 21, 2028
C•••••••• P••••••••• G•••• L••unstated lien unstatedNot disclosed-$11,000
44c
Oct 1, 2029
S••••••• B•••••• L••unstated lien unstatedNot disclosed-$15,000
38c
Jul 25, 2028
C••••••••• A••••••• L••unstated lien unstatedNot disclosed-$17,000
567c
Mar 31, 2032
R•••• M•••••• L••unstated lien unstatedNot disclosed-$18,000
1800c
Sep 23, 2027
R••••••• P••••• L••unstated lien unstatedNot disclosed-$21,000
62c
May 24, 2032
R•••• A••••••••• H••••••• L••unstated lien unstatedNot disclosed-$25,000
357c
Nov 19, 2031
G••••• B••••••• L••unstated lien unstatedNot disclosed-$27,000
51c
Sep 29, 2028
C•••••••• P••••••••• G•••• L••unstated lien unstatedNot disclosed-$33,000
19c
Oct 1, 2029
P••••• H••••• I••••••••• H•••••••• I•••unstated lien unstatedNot disclosed-$40,000
63c
Jun 1, 2029
P•••••• H••••• H•••••• C•••unstated lien unstatedNot disclosed-$43,000
154c
Nov 6, 2031
R••••• C••••••••• O•••••••• C••••••• I••unstated lien unstatedNot disclosed-$45,000
55c
Jun 21, 2029
F•••• B•••• I••unstated lien unstatedNot disclosed-$49,000Oct 23, 2030
H•••••• P••••• I••unstated lien unstatedNot disclosed-$50,000
833c
Nov 5, 2029
V•••••• P•••••••• L••unstated lien unstatedNot disclosed-$50,000
179c
Dec 23, 2032
S••••• I•••unstated lien unstatedNot disclosed-$55,000
393c
Feb 16, 2029
P• F•••• P•• L••delayed draw term loan first lien$5.7M-$59,000
88c
May 30, 2030
Q•• P••••• I••unstated lien unstatedNot disclosed-$60,000
400c
Jun 3, 2032
V•••••• I••••••••• I• L••unstated lien unstatedNot disclosed-$61,000
58c
Jun 17, 2032
M••• C•••••• I•• L••unstated lien unstatedNot disclosed-$65,000
107c
Sep 1, 2029
E•••••• P••••••• I•••••••• L••unstated lien unstatedNot disclosed-$68,000
53c
Mar 12, 2030
E•••••• H••••••• I••unstated lien unstatedNot disclosed-$72,000
300c
Dec 20, 2032
P•••••• P•••••••• I••unstated lien unstatedNot disclosed-$75,000
56c
Sep 19, 2031
Z••••••• U• B•••• I•••unstated lien unstatedNot disclosed-$82,000
69c
Aug 2, 2032
S••••••••• L•••• J••• U••unstated lien unstated$4.6M-$84,000
271c
Nov 5, 2032
V•••••• P•••••••• L••unstated lien unstatedNot disclosed-$95,000
179c
Dec 23, 2032
I••• C•••••• H••••••• P•• L••unstated lien unstated$15.5M-$103,000
94c
May 11, 2029
B••••• B••••• I•••unstated lien unstatedNot disclosed-$110,000
124c
Nov 17, 2032
O•••••• L••delayed draw term loan first lien$7.1M-$112,000
77c
Dec 5, 2031
T•••• B•••• S••delayed draw term loan first lien$3.1M-$122,000
271c
Oct 17, 2031
S••••••• B•••• C••••unstated lien unstatedNot disclosed-$125,000
S••••••• B•••• C••••delayed draw term loan first lien$19.2M-$125,000
67c
Nov 6, 2032
P••••• H••••• I••••••••• H•••••••• I•••unstated lien unstatedNot disclosed-$125,000
219c
Jan 31, 2033
A• C•••••• A••••••••• C•••••••••unstated lien unstatedNot disclosed-$134,000
56c
Jul 2, 2031
S••••••• B•••• C••••unstated lien unstatedNot disclosed-$140,000
80c
Nov 6, 2032
C••••••• H••••••• I••unstated lien unstatedNot disclosed-$141,000
66c
Jul 10, 2031
F• C•••••••• L••unstated lien unstatedNot disclosed-$142,000
64c
Nov 26, 2030
Z••••• A••••••••• L••unstated lien unstatedNot disclosed-$151,000
100c
Jan 13, 2033
K•••• I••••••••• H••••••• I••unstated lien unstatedNot disclosed-$152,000
143c
Aug 29, 2032
P••• B•••• L••unstated lien unstatedNot disclosed-$154,000
173c
Mar 29, 2032
O•• F•••••• L••unstated lien unstatedNot disclosed-$156,000
82c
Dec 2, 2032
B•••• T•••• A••••••• G••••• L•unstated lien unstatedNot disclosed-$158,000
56c
Jun 3, 2030
E•••••• H••••••• I••unstated lien unstatedNot disclosed-$161,000
293c
Dec 20, 2032
Z••••••• U• B•••• I•••unstated lien unstatedNot disclosed-$165,000
66c
Aug 2, 2032
K••••••• B•••• U•• L••unstated lien unstatedNot disclosed-$167,000
61c
Dec 18, 2031
A•••• B•••• I••••••••• L••unstated lien unstated$24.6M-$172,000
100c
Jan 14, 2033
C•• B••••• I•••unstated lien unstatedNot disclosed-$179,000
114c
May 13, 2032
F••• F••• I••••••••• C•••••••••unstated lien unstatedNot disclosed-$181,000
99c
Jul 10, 2031
S• S••• U• B•••• L••unstated lien unstatedNot disclosed-$188,000
400c
Jun 17, 2026
F••••••• L••unstated lien unstatedNot disclosed-$192,000
114c
Nov 1, 2028
C•••• P•••••• I•••unstated lien unstatedNot disclosed-$195,000
66c
Dec 18, 2031
P••• C•••••••••unstated lien unstatedNot disclosed-$202,000
220c
Dec 20, 2032
A•••• B•••••••• L••unstated lien unstatedNot disclosed-$203,000
145c
Sep 4, 2032
E••••••• B•••• I•••unstated lien unstatedNot disclosed-$210,000
256c
Mar 25, 2032
S• I••••••••• H•••••••• L••unstated lien unstatedNot disclosed-$213,000
66c
May 2, 2030
S• S••• U• B•••• L••unstated lien unstatedNot disclosed-$217,000
409c
Dec 16, 2032
P•••• O•• B••••• L••unstated lien unstatedNot disclosed-$217,000
129c
Oct 11, 2032
T•••• I•••unstated lien unstatedNot disclosed-$221,000
73c
Mar 12, 2030
A•••• B••••• L••unstated lien unstatedNot disclosed-$233,000
68c
Jan 14, 2030
T•••••••• O••••••••• H••••••• I••unstated lien unstatedNot disclosed-$248,000
152c
Feb 11, 2032
T••••••••• I••unstated lien unstatedNot disclosed-$268,000
100c
Nov 9, 2030
P••• C•••••••••unstated lien unstatedNot disclosed-$273,000
215c
Dec 20, 2032
Page 8 of 11PreviousNext
Registration
Fiscal year end
1231reported
Incorporated
NYreported
On the SEC BDC report
2022 to 2026reported
Filings listed
18reported10-Q and 10-K since 2022
Latest schedule
0001628280-26-056772reported