DFX Intelligence
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C••••••••• C••••• P••••••• B•• I• I•••
Business development companymanaged by C••••••••• C••••• A•••••••• L••Non-traded· WEST PALM BEACH, FL
A non-traded business development company, managed by C••••••••• C••••• A•••••••• L••, holding $629M across 59 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $629M
- Borrowers
- 59
- Mark on cost
- 95.7¢
- First lien
- 99%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $105Mon non-accrual, 5 borrowers
5 borrowers on non-accrual, $105M principal; the largest is K••• W•••• S••••• H•••••••• L•• ($29.9M).
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 K••• W•••• S••••• H•••••••• L•• → - 11 below 80¢$76.5M principal
11 positions across 7 borrowers marked below 80¢ on cost, $76.5M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026
Every headline figure, and the identifiersCIK 1841514 · file 814-01387ShowHide
Fair value
$629M
as of Jun 30, 2026
Principal held
$687M
debt pieces, the filer's figure
Cost
$669M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
172
59 borrowers
First lien
99%
99% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
130
11 sponsors financed
Portfolio through time
Fair value by quarter end$629M as of Jun 30, 2026
Dec 31, 2022$2.1B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $629M | 59 | 96c | 12 | 569 bp |
| Mar 31, 2026 | $632M | 58 | 96c | 14 | 573 bp |
| Dec 31, 2025 | $656M | 60 | 95c | 12 | 569 bp |
| Sep 30, 2025 | $643M | 59 | 96c | 15 | 577 bp |
All 15 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $648M | 59 | 97c | 14 | 575 bp |
| Mar 31, 2025 | $3.6B | 59 | 97c | 13 | 588 bp |
| Dec 31, 2024 | $5.5B | 61 | 97c | 26 | 598 bp |
| Sep 30, 2024 | $3.7B | 59 | 98c | 8 | 626 bp |
| Jun 30, 2024 | $3.6B | 53 | 99c | 6 | 645 bp |
| Mar 31, 2024 | $3.0B | 49 | 99c | 6 | 652 bp |
| Dec 31, 2023 | $2.9B | 47 | 98c | 8 | 661 bp |
| Sep 30, 2023 | $2.2B | 43 | 98c | 4 | 645 bp |
| Jun 30, 2023 | $2.2B | 44 | n/a | 4 | 649 bp |
| Mar 31, 2023 | $2.0B | 41 | n/a | 1 | 645 bp |
| Dec 31, 2022 | $2.1B | 31 | 98c | 0 | 646 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- PIK interest appearsMar 31, 2026
Largest facilities held, with co-lenders
- S•• P••••••• H••••• equity1 BDC hold it$19B n/a
- F•••••••• B••••• L•• equity1 BDC hold it$590M 86c
- K••• W•••• S••••• H•••••••• L•• first lien delayed draw term loan1 BDC hold it · matures Oct 18, 2027$29.9M 58c
- A••• I••••••••• 2• L•• first lien term loan6 BDCs hold it · matures Jul 22, 2027$27.7M 100c
- S•• H••••••• C••• first lien term loan2 BDCs hold it · matures Jun 30, 2032$25.2M 100c
- N••••••• D••• R•••••• L•• first lien term loan1 BDC hold it · matures Jun 24, 2030$25.0M 100c
- V••••••• B•••• H•••••••• L•• first lien term loan6 BDCs hold it · matures Mar 18, 2027$22.8M 69c
- C•• A••••••••• L•• first lien term loan1 BDC hold it · matures Apr 2, 2030$20.3M 100c
- A••••• G•••••• H•••••• C•••••• L•• first lien term loan2 BDCs hold it · matures Aug 1, 2030$20.1M 101c
- S••••• R••••••••• L•• first lien term loan2 BDCs hold it · matures Dec 29, 2028$20.0M 72c
- C•• G••••• I•• first lien term loan2 BDCs hold it · matures Nov 30, 2026$19.4M 94c
- S••••••• U• I••••••••• I•• first lien term loan2 BDCs hold it · matures Dec 15, 2031$19.4M 101c
Schedule of investments at Dec 31, 2022
131 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| S•••• I••••••••• L•• | equity equity | Not disclosed | $205,000 28c | ||
| P•• U••••••• H••••••• L•• | revolver first lien | $214,000 | $150,000 83c | S+600 bp | Nov 17, 2026 |
| P•• U••••••• H••••••• L•• | revolver first lien | $214,000 | $150,000 83c | S+600 bp | Nov 17, 2026 |
| V•••• E••••••••• Services | revolver first lien | $124,000 | $106,000 100c | S+625 bp | Dec 30, 2027 |
| V•••• E••••••••• Services | revolver first lien | $124,000 | $106,000 100c | S+625 bp | Dec 30, 2027 |
| W•••••• I••• | revolver first lien | $0 | $0 0c | S+600 bp | Dec 29, 2026 |
| T•• S•••••• M••••••••• I••• | revolver first lien | $0 | -$25,000 -417c | S+600 bp | Dec 23, 2025 |
| T•• S•••••• M••••••••• I••• | revolver first lien | $0 | -$25,000 417c | S+600 bp | Dec 23, 2025 |
| 1•• O••••• F•••••••• | revolver first lien | $0 | -$29,000 145c | S+650 bp | May 10, 2027 |
| 1•• O••••• F•••••••• | revolver first lien | $0 | -$29,000 -145c | S+650 bp | May 10, 2027 |
| N••••••• L•• | revolver first lien | $0 | -$40,000 267c | S+575 bp | May 25, 2027 |
| N••••••• L•• | revolver first lien | $0 | -$40,000 -267c | S+575 bp | May 25, 2027 |
| C••••••••• L•• | revolver first lien | $0 | -$41,000 -241c | S+700 bp | Mar 29, 2027 |
| C••••••••• L•• | revolver first lien | $0 | -$41,000 241c | S+700 bp | Mar 29, 2027 |
| O•••••• M••••• L•• | revolver first lien | $0 | -$45,000 145c | S+650 bp | Sep 29, 2026 |
| O•••••• M••••• L•• | revolver first lien | $0 | -$45,000 -145c | S+650 bp | Sep 29, 2026 |
| R••••••• I••••••••• | revolver first lien | $0 | -$48,000 -218c | S+700 bp | Nov 1, 2027 |
| R••••••• I••••••••• | revolver first lien | $0 | -$48,000 218c | S+700 bp | Nov 1, 2027 |
| V•••• E••••••••• Services | delayed draw term loan first lien | $0 | -$49,000 196c | S+625 bp | Dec 30, 2027 |
| V•••• E••••••••• Services | delayed draw term loan first lien | $0 | -$49,000 -196c | S+625 bp | Dec 30, 2027 |
| M••••••••• S••••••••• L•• •••••••• C••••• L••• S••••••• & Services | term loan first lien | $0 | -$54,000 193c | S+600 bp | Jun 1, 2028 |
| M••••••••• S••••••••• L•• •••••••• C••••• L••• S••••••• & Services | term loan first lien | $0 | -$54,000 -193c | S+600 bp | Jun 1, 2028 |
| R•••• E••••••••• F••••• I••• | revolver first lien | $0 | -$113,000 174c | S+700 bp | Apr 29, 2027 |
| R•••• E••••••••• F••••• I••• | revolver first lien | $0 | -$113,000 -174c | S+700 bp | Apr 29, 2027 |
| S•• H••••••• C•••• | delayed draw term loan first lien | $0 | -$155,000 -250c | S+600 bp | Dec 28, 2026 |
| S•• H••••••• C•••• | delayed draw term loan first lien | $0 | -$155,000 250c | S+600 bp | Dec 28, 2026 |
| B••••••• H••••• S••••••• | delayed draw term loan first lien | $0 | -$189,000 274c | S+600 bp | Oct 27, 2024 |
| B••••••• H••••• S••••••• | delayed draw term loan first lien | $0 | -$189,000 -274c | S+600 bp | Oct 27, 2024 |
| N••••••• L•• | delayed draw term loan first lien | $0 | -$198,000 508c | S+575 bp | May 25, 2027 |
| N••••••• L•• | delayed draw term loan first lien | $0 | -$198,000 -508c | S+575 bp | May 25, 2027 |
| W•••••• I••• | revolver first lien | $0 | Not disclosed n/a | S+600 bp | Dec 29, 2026 |
Page 2 of 2Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2021 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-344908reported