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L•••••••• S••••• U••• I•••
A non-traded business development company, managed by L• B•• A••••••• L••, holding $984M across 62 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
- $984M
- Borrowers
- 62
- Mark on cost
- 98.8¢
- First lien
- 87%
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
- $763M → $1.1Bfair value, 4 quarters
Its portfolio grew 40% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1849089 · file 814-01427ShowHide
Fair value
$984M
as of Jun 30, 2026
Principal held
$881M
debt pieces, the filer's figure
Cost
$996M
99c on cost, debt pieces
Unfunded
$143M
commitments not yet drawn
Positions
153
62 borrowers
First lien
87%
88% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
87
3 sponsors financed
Portfolio through time
Fair value by quarter end$1.1B as of Jun 30, 2026
Dec 31, 2021$0 then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $1.1B | 62 | 99c | 1 | 671 bp |
| Mar 31, 2026 | $886M | 58 | 99c | 1 | 672 bp |
| Dec 31, 2025 | $902M | 59 | 100c | 1 | 664 bp |
| Sep 30, 2025 | $785M | 50 | 100c | 1 | 667 bp |
All 16 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $763M | 48 | 100c | 1 | 661 bp |
| Mar 31, 2025 | $687M | 45 | 100c | 1 | 654 bp |
| Dec 31, 2024 | $1.2B | 46 | 100c | 2 | 677 bp |
| Sep 30, 2024 | $488M | 31 | 100c | 1 | 684 bp |
| Jun 30, 2024 | $450M | 28 | 101c | 1 | 685 bp |
| Mar 31, 2024 | $359M | 24 | 101c | 1 | 705 bp |
| Dec 31, 2023 | $301M | 24 | 101c | 1 | 702 bp |
| Sep 30, 2023 | $197M | 14 | 100c | 1 | 728 bp |
| Jun 30, 2023 | $178M | 11 | 100c | 0 | 791 bp |
| Mar 31, 2023 | $154M | 9 | 100c | 0 | 788 bp |
| Dec 31, 2022 | $225M | 7 | 100c | 2 | 807 bp |
| Dec 31, 2021 | $0 | 2 | n/a | 0 | n/a |
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
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
Full timeline · 20 eventsShow fewer
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- New borrower on a BDC scheduleMar 31, 2026
- Lender left a facilityMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- Lender left a facilityMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- Spread increasedDec 31, 2025
- New borrower on a BDC scheduleDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
Largest facilities held, with co-lenders
- 1•• D•••••• A•••••• first lien term loan1 BDC hold it · matures May 30, 2029 · possible sponsor U••••••$70.1M 86c
- B••• F•••••• P•• C••• H••••••• I•• first lien term loan1 BDC hold it · matures Jun 21, 2028$47.8M 100c
- I••••• E••••••• C••••••••• first lien term loan1 BDC hold it · matures Apr 17, 2030$43.6M 100c
- D•••• N••••• H••••••• L•• first lien term loan1 BDC hold it · matures Aug 24, 2028$41.7M 98c
- T•••• D••••••••• C•••••• L•• first lien term loan1 BDC hold it · matures Mar 12, 2030$40.0M 100c
- F•••••••• I••••••••• C••• first lien term loan1 BDC hold it · matures Mar 25, 2030$39.5M 100c
- R••••• C••••••••• I•• first lien term loan2 BDCs hold it · matures Jan 31, 2031$37.6M 100c
- t••••••••• L•• first lien term loan1 BDC hold it · matures Feb 12, 2029$36.4M 100c
- C••• C•••••• P••••••• I••• L• first lien term loan1 BDC hold it · matures Oct 11, 2027$34.2M 101c
- X•••• S••••••••• L•• first lien term loan1 BDC hold it · matures Oct 7, 2029 · possible sponsor N•••••••• C••••••$30.4M 98c
- M••• M••• L•• first lien term loan1 BDC hold it · matures Nov 10, 2028$27.4M 100c
- C••••••••• E••••••••• L•• first lien term loan1 BDC hold it · matures Jun 11, 2029$24.6M 98c
Schedule of investments at Sep 30, 2025
105 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| 1•• D•••••• A•••••• ••••• R••• G••• C••••••• L••• | term loan first lien | $43.1M | $38.8M 91c | S+675 bp | May 30, 2029 |
| I••••• E••••••• C••••••••• | term loan first lien | $38.4M | $38.0M 100c | S+650 bp | Apr 17, 2030 |
| T•••• D••••••••• C•••••• L•• | term loan first lien | $32.0M | $32.0M 101c | S+503 bp | Mar 12, 2030 |
| D•••• N••••• H••••••• L•• | term loan first lien | $31.7M | $31.7M 101c | S+695 bp | Aug 24, 2028 |
| F•••••••• I••••••••• C••••••••• | term loan first lien | $29.9M | $29.9M 101c | S+550 bp | Mar 25, 2030 |
| C••• C•••••• P••••••• I••• L•• | term loan first lien | $28.0M | $28.0M 101c | S+750 bp | Oct 11, 2027 |
| M•• A••••••••• C••••••••• | term loan first lien | $27.1M | $27.1M 101c | S+650 bp | Dec 19, 2028 |
| D••••• D•••••• H•••••••• L•• | preferred equity equity | Not disclosed | $25.0M 100c | ||
| B••• F•••••• P•• C••• H••••••• I••• | term loan first lien | $24.4M | $24.4M 101c | S+695 bp | Jun 21, 2028 |
| X•••• S••••••••• L•• | term loan first lien | $22.3M | $22.3M 101c | S+575 bp | Oct 7, 2029 |
| R••••• C••••••••• I••• | term loan first lien | $20.1M | $20.1M 100c | S+550 bp | Jan 31, 2031 |
| S••• D••••• C••••••••• L•• | term loan first lien | $17.6M | $17.6M 101c | S+675 bp | Feb 15, 2028 |
| J••••••••• L••• | term loan first lien | $17.0M | $16.9M 100c | S+690 bp | Jan 31, 2030 |
| C••••••••• E••••••••• L•• | term loan first lien | $16.6M | $16.6M 100c | S+525 bp | Jun 11, 2029 |
| S••••••• L••• | term loan first lien | $16.3M | $16.0M 99c | S+745 bp | Dec 17, 2027 |
| B••• F•••••• P•• C••• H••••••• I••• | term loan first lien | $15.5M | $15.5M 101c | S+695 bp | Jun 21, 2028 |
| M•• L••••••• G••••• L•• | term loan first lien | $15.5M | $15.5M 101c | S+575 bp | Dec 30, 2027 |
| C• S•••• L•• | term loan first lien | $15.1M | $15.1M 101c | S+600 bp | Oct 1, 2029 |
| S•••• J•••• M•••• O• H••••••• L•• | term loan first lien | $15.1M | $15.1M 100c | S+400 bp | Apr 22, 2030 |
| A•••••••• C•••••• G•••• L•• | equity equity | Not disclosed | $15.0M 100c | ||
| L•••••• L•••••• H••••••• L•• | term loan first lien | $14.5M | $14.5M 101c | S+510 bp | Feb 28, 2030 |
| N••••••• C••••••••• • C••••••••• L•• | term loan first lien | $14.0M | $14.0M 100c | S+1225 bp | May 31, 2029 |
| Z••• W•••• R••••••••• L•• | term loan first lien | $12.6M | $12.6M 100c | S+645 bp | May 15, 2026 |
| E•••••• T•••••••• I••••••••• L•• | term loan first lien | $12.6M | $12.6M 101c | S+550 bp | Mar 31, 2030 |
| t••••••••• L•• | term loan first lien | $12.5M | $12.5M 101c | S+720 bp | Feb 12, 2029 |
| Z•• P••••••• L•• | term loan first lien | $11.3M | $11.3M 101c | S+600 bp | Jun 14, 2029 |
| T••••• O•• B•••• L•• | term loan first lien | $10.7M | $10.7M 100c | S+550 bp | Apr 17, 2026 |
| t••••••••• L•• | term loan first lien | $10.0M | $10.0M 101c | S+720 bp | Feb 12, 2029 |
| L• H••••••••• L•• | term loan first lien | $10.1M | $10.0M 99c | S+545 bp | Jul 25, 2031 |
| T•• S•••••••• L•• | term loan first lien | $9.9M | $9.9M 100c | S+550 bp | Dec 31, 2029 |
| G•••••• F••• L•• L•• | term loan first lien | $10.0M | $9.9M 100c | S+825 bp | Jun 6, 2030 |
| M••• M••• L•• | term loan first lien | $9.9M | $9.8M 100c | S+650 bp | Nov 10, 2028 |
| I•••••••• P••••••••• L•• | term loan first lien | $9.8M | $9.8M 101c | S+525 bp | Sep 30, 2027 |
| N•••• C•••••••• L• | unstated lien unstated | Not disclosed | $9.7M | ||
| N•••• C•••••••• L•• E••••• | unstated lien unstated | Not disclosed | $9.7M 96c | ||
| R••••• C••••••••• I••• | term loan first lien | $9.3M | $9.3M 101c | S+550 bp | Jan 31, 2031 |
| M••• M••• L•• | term loan first lien | $8.4M | $8.4M 100c | S+650 bp | Nov 10, 2028 |
| N••••••••• G•••••• C••••••• F••• L•• | equity equity | Not disclosed | $7.7M 100c | ||
| N••••••••• G•••••• C••••••• F••• L•• | unstated lien unstated | Not disclosed | $7.7M | ||
| X•••• S••••••••• L•• | term loan first lien | $7.4M | $7.4M 100c | S+575 bp | Oct 7, 2029 |
| D••••• D•••••• H•••••••• L•• | term loan first lien | $5.7M | $5.7M 100c | S+1000 bp | Dec 3, 2026 |
| R••••• C••••••••• I••• | term loan first lien | $5.3M | $5.3M 100c | S+550 bp | Jan 31, 2031 |
| C• S••••• L•• | term loan first lien | $5.0M | $5.0M 101c | S+600 bp | Oct 1, 2029 |
| I•• G•• H••••••• L•• | equity equity | Not disclosed | $5.0M 102c | ||
| I•• G•• H••••••• L•• | unstated lien unstated | Not disclosed | $5.0M | ||
| Z••• W•••• R••••••••• L•• | term loan first lien | $4.9M | $4.9M 98c | S+645 bp | May 15, 2026 |
| D•• I•••••• S••••••• L•• | term loan first lien | $4.6M | $4.6M 101c | S+650 bp | Mar 28, 2030 |
| T•••• R••••••• L••• | unstated lien unstated | Not disclosed | $4.5M | ||
| T•••• R••••••• L•• | equity equity | Not disclosed | $4.5M 100c | ||
| Z•• P••••••• L•• | term loan first lien | $4.4M | $4.4M 101c | S+600 bp | Jun 14, 2029 |
| M•• L••••••• G••••• L•• | term loan first lien | $4.3M | $4.3M 100c | S+575 bp | Dec 30, 2027 |
| D•••• N••••• H••••••• L•• | term loan first lien | $4.1M | $4.1M 100c | S+695 bp | Aug 24, 2028 |
| D••••• D•••••• H•••••••• L•• | term loan first lien | $3.8M | $3.8M 100c | S+1000 bp | Oct 30, 2025 |
| C••• C•••••• P••••••• I••• L•• | term loan first lien | $3.4M | $3.4M 102c | S+750 bp | Oct 11, 2027 |
| S••••••• R••• E••••• I••••••••• L• | term loan first lien | $3.1M | $3.0M 100c | S+870 bp | Oct 6, 2026 |
| L•••••• T•• H•••••••• L•• | unstated lien unstated | Not disclosed | $3.0M | ||
| G•••• I••• | equity equity | Not disclosed | $3.0M 100c | ||
| L•••••• T•• H•••••••• L•• | equity equity | Not disclosed | $3.0M 100c | ||
| G•••• I••• | unstated lien unstated | Not disclosed | $3.0M | ||
| P•••• L•• | term loan first lien | $2.8M | $2.8M 101c | S+575 bp | Jun 28, 2029 |
| 3••• F•••••••• L•• | equity equity | Not disclosed | $2.5M 100c | ||
| 3••• F•••••••• L•• | unstated lien unstated | Not disclosed | $2.5M | ||
| C••••••••• E••••••••• L•• | term loan first lien | $2.1M | $2.1M 101c | S+525 bp | Jun 11, 2029 |
| D••••• D•••••• H•••••••• L•• | term loan first lien | $2.1M | $2.1M 100c | S+1000 bp | Dec 3, 2026 |
| S••••••• R••• E••••• I••••••••• L• | term loan first lien | $2.0M | $2.0M 100c | S+870 bp | Oct 6, 2026 |
| 1•• D•••••• A•••••• ••••• R••• G••• C••••••• L••• | term loan first lien | $2.1M | $1.9M 94c | S+675 bp | May 30, 2029 |
| Z•• H•••••••• I••• | subordinated debt unsecured or subordinated | $1.8M | $1.8M 100c | 14.00% PIK 10.00% | Feb 12, 2027 |
| M••• M••• L•• | term loan first lien | $1.7M | $1.7M 103c | S+650 bp | Nov 10, 2028 |
| D•••• N••••• T•••• L•• | preferred equity equity | Not disclosed | $1.7M 100c | ||
| D••••• D•••••• H•••••••• L•• | term loan first lien | $1.6M | $1.6M 100c | S+1000 bp | Dec 3, 2026 |
| I••••• E••••••• C••••••••• | subordinated debt unsecured or subordinated | $1.5M | $1.5M 100c | S+1400 bp | Oct 17, 2030 |
| O•••••• H•••••• L••• C••••••••• | notes lien unstated | $1.5M | $1.5M 100c | S+1000 bp | Dec 31, 2028 |
| W••••• S•••••••• L•• | unstated lien unstated | Not disclosed | $1.4M | ||
| W••••• S•••••••• L•• | equity equity | Not disclosed | $1.4M 100c | ||
| M•• A••••••••• C••••••••• | term loan first lien | $1.3M | $1.3M 101c | S+650 bp | Dec 19, 2028 |
| Z•• P••••••• L•• | term loan first lien | $1.3M | $1.3M 101c | S+500 bp | Jun 14, 2029 |
| L•••••••• S••••• T••••••••• L•• | equity equity | Not disclosed | $1.0M 100c | ||
| L•••••••• S••••• T••••••••• L•• | unstated lien unstated | Not disclosed | $1.0M | ||
| A••••• H•••••••• L•• | term loan first lien | $979,000 | $979,000 100c | S+700 bp | Nov 30, 2025 |
| S••••••• L••• | term loan first lien | $675,000 | $665,000 101c | S+745 bp | Dec 17, 2027 |
| C•••••• C••• L•• | term loan first lien | $642,000 | $636,000 102c | S+800 bp | Sep 20, 2029 |
| P•••• L•• | term loan first lien | $593,000 | $593,000 100c | S+575 bp | Jun 28, 2029 |
| S••••• L••••••••• L•• | equity equity | Not disclosed | $500,000 100c | ||
| S••••• L••••••••• L••• | unstated lien unstated | Not disclosed | $500,000 | ||
| C•••••• C••• L•• | term loan first lien | $495,000 | $491,000 100c | S+800 bp | Sep 20, 2029 |
| F•••••••• I••••••••• C••••••••• | term loan first lien | $300,000 | $300,000 129c | S+550 bp | Mar 25, 2030 |
| Z•• H•••••••• I••• | warrants equity | Not disclosed | $0 | ||
| T••••• G••••• L•• | term loan first lien | $0 | $0 0c | S+475 bp | May 25, 2029 |
| G•••••• F••• L•• L•• | term loan first lien | $0 | $0 0c | S+825 bp | Jun 6, 2030 |
| D•• I•••••• S••••••• L•• | term loan first lien | $0 | $0 0c | S+650 bp | Mar 28, 2030 |
| D•• I•••••• S••••••• L•• | term loan first lien | $0 | $0 0c | S+650 bp | Mar 28, 2030 |
| L•••••• L•••••• H••••••• L•• | term loan first lien | $0 | $0 0c | S+510 bp | Feb 28, 2030 |
| I•••••••• P••••••••• L•• | term loan first lien | $0 | $0 0c | S+525 bp | Sep 30, 2027 |
| G•• G••••• C••••••••• L•• | unstated lien unstated | Not disclosed | $0 | ||
| 1•• D•••••• A•••••• ••••• R••• G••• C••••••• L••• | term loan first lien | $0 | $0 | S+675 bp | May 30, 2029 |
| L•••••• L•••••• H••••••• L•• | term loan first lien | $0 | $0 0c | S+510 bp | Feb 28, 2030 |
| E•••••• T•••••••• I••••••••• L••• | term loan first lien | $0 | $0 0c | S+550 bp | Mar 31, 2030 |
| T•••• D••••••••• C•••••• L•• | term loan first lien | $0 | $0 0c | S+503 bp | Mar 12, 2030 |
| 1•• D•••••• A•••••• ••••• R••• G••• C••••••• L••• | warrants equity | Not disclosed | $0 | ||
| I••••• E••••••• C••••••••• | warrants equity | Not disclosed | $0 |
Page 1 of 2Next
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2022 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- L•••••••• S••••• Empire BDC, Inc.; L•••••••• S••••• Empire BDC, LLCreported
- Latest schedule
- 0001628280-26-051793reported