DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
BDC portfolio
T Series BDC LLC
Fair value
$2.2B
as of Jun 30, 2026
Principal held
$2.3B
debt pieces, the filer's figure
Cost
$2.3B
97c on cost
Unfunded
$297M
commitments not yet drawn
Positions
833
274 borrowers
First lien
98%
99% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
519
34 sponsors financed
Portfolio through time
Fair value by quarter end$2.2B as of Jun 30, 2026
Dec 31, 2022$1.2B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.2B | 274 | 98c | 54 | 502 bp |
| Mar 31, 2026 | $2.2B | 267 | 98c | 45 | 503 bp |
| Dec 31, 2025 | $2.2B | 267 | 98c | 37 | 506 bp |
| Sep 30, 2025 | $2.1B | 248 | 98c | 41 | 518 bp |
| Jun 30, 2025 | $2.1B | 193 | 99c | 41 | 527 bp |
| Mar 31, 2025 | $2.1B | 187 | 99c | 40 | 535 bp |
| Dec 31, 2024 | $4.1B | 238 | 99c | 59 | 536 bp |
| Sep 30, 2024 | $2.1B | 173 | 99c | 33 | 554 bp |
| Jun 30, 2024 | $2.0B | 159 | 99c | 30 | 572 bp |
| Mar 31, 2024 | $1.7B | 142 | 99c | 21 | 595 bp |
| Dec 31, 2023 | $1.7B | 132 | 99c | 21 | 604 bp |
| Sep 30, 2023 | $1.5B | 124 | 99c | 12 | 608 bp |
| Jun 30, 2023 | $1.4B | 117 | 98c | 7 | 604 bp |
| Mar 31, 2023 | $1.3B | 115 | 98c | 5 | 589 bp |
| Dec 31, 2022 | $1.2B | 107 | 98c | 4 | 587 bp |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 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
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Largest facilities held, with co-lenders
- VRC Companies, LLC first lien term loan15 BDCs hold it · matures Jun 29, 2029 · Windjammer Capital Investors$34.5M 100c
- Distributors PT Intermediate Holdings III, LLC first lien term loan3 BDCs hold it · matures Apr 9, 2030$32.4M 101c
- World Insurance Associates, LLC first lien term loan23 BDCs hold it · matures Apr 30, 2030 · Charlesbank Capital Partners, LLC$30.8M 100c
- Integrity Marketing Acquisition, LLC first lien term loan44 BDCs hold it · matures Aug 31, 2028 · Silver Lake Technology Management, LLC$29.2M 100c
- Pareto Health Intermediate Holdings, Inc first lien term loan15 BDCs hold it · matures Jun 3, 2030$29.1M 100c
- Catalis Intermediate, Inc first lien term loan10 BDCs hold it · matures Aug 4, 2027$28.2M 100c
- BP Purchaser, LLC first lien term loan4 BDCs hold it · matures Dec 11, 2028$28.1M 75c
- Apex Service Partners, LLC first lien term loan35 BDCs hold it · matures Oct 24, 2030 · Alpine Investors$27.9M 101c
- Zarya Holdco, Inc first lien term loan12 BDCs hold it · matures Jul 1, 2027$27.8M 99c
- High Street Buyer, Inc first lien term loan14 BDCs hold it · matures Apr 14, 2028 · Abry Partners II, LLC$27.4M 100c
- Chemicals Tank Holding Corp first lien term loan5 BDCs hold it · matures Mar 31, 2028$27.4M 96c
- FLS Holding, Inc first lien term loan4 BDCs hold it · matures Dec 15, 2028$27.1M 86c
Schedule of investments at Jun 30, 2026
833 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| VRC Companies, LLC Commercial Services & Supplies | term loan first lien | $33.5M | $33.4M 100c | SOFR+550 bp | Jun 29, 2027 |
| Distributors PT Intermediate Holdings III, LLC | term loan first lien | $32.4M | $32.4M 101c | SOFR+475 bp | Apr 9, 2030 |
| World Insurance Associates, LLC Insurance Services | term loan first lien | $30.8M | $30.6M 100c | SOFR+500 bp | Apr 3, 2030 |
| Integrity Marketing Acquisition, LLC Insurance Services | term loan first lien | $29.2M | $29.2M 100c | SOFR+500 bp | Aug 25, 2028 |
| Pareto Health Intermediate Holdings, Inc. Health Care Providers & Services | term loan first lien | $29.1M | $28.8M 100c | SOFR+500 bp | Jun 3, 2030 |
| High Street Buyer, Inc. Insurance Services | term loan first lien | $27.4M | $27.2M 100c | SOFR+425 bp | Apr 14, 2028 |
| Zarya Intermediate, LLC Real Estate Management & Development | term loan first lien | $26.6M | $26.3M 99c | SOFR+650 bp | Jul 1, 2027 |
| Chemicals Tank Holding Corp. | term loan first lien | $26.2M | $25.1M 96c | SOFR+575 bp | Mar 31, 2028 |
| Magneto Components Buyco, LLC Electronic Equipment, Instruments & Components | term loan first lien | $23.9M | $23.9M 101c | SOFR+575 bp | Dec 5, 2030 |
| Software Diligent Corporation | term loan first lien | $24.1M | $23.7M 99c | 12.09% PIK 8.42% | Aug 2, 2030 |
| Raptor Merger Sub Debt, LLC Industrial Conglomerates | term loan first lien | $23.8M | $23.6M 101c | SOFR+475 bp | Apr 1, 2030 |
| Catalis Intermediate, Inc. IT Services | term loan first lien | $23.0M | $22.9M 100c | SOFR+525 bp | Aug 4, 2027 |
| Advarra Holdings, Inc. Health Care Providers & Services | term loan first lien | $23.1M | $22.7M 100c | SOFR+450 bp | Sep 15, 2031 |
| MRI Software, LLC Real Estate Management & Development | term loan first lien | $22.4M | $22.3M 100c | SOFR+475 bp | Feb 10, 2028 |
| Amerilife Holdings, LLC Insurance Services | term loan first lien | $22.1M | $22.1M 101c | SOFR+500 bp | Aug 31, 2029 |
| Machinery Answer Acquisition, LLC | term loan first lien | $24.0M | $21.9M 92c | SOFR+600 bp | Jun 30, 2028 |
| Apex Service Partners, LLC Diversified Consumer Services | term loan first lien | $21.9M | $21.9M 101c | SOFR+500 bp | Oct 24, 2030 |
| Sherlock Buyer Corp. Commercial Services & Supplies | term loan first lien | $23.9M | $21.8M 92c | SOFR+575 bp | Dec 6, 2030 |
| SitusAMC Holdings Corporation Financial Services | term loan first lien | $21.8M | $21.8M 100c | SOFR+550 bp | May 14, 2031 |
| Software Anaplan, Inc. | term loan first lien | $21.4M | $21.2M 100c | SOFR+450 bp | Jun 21, 2029 |
| Software Everbridge Holdings, LLC | term loan first lien | $21.1M | $21.1M 100c | SOFR+500 bp | Jul 2, 2031 |
| Aptean, Inc. Industrial Conglomerates | term loan first lien | $21.4M | $21.0M 99c | SOFR+475 bp | Jan 30, 2031 |
| BP Purchaser, LLC Containers & Packaging | term loan first lien | $28.1M | $20.9M 75c | SOFR+750 bp PIK 1.00% | Dec 11, 2028 |
| Heartland Home Services Diversified Consumer Services | term loan first lien | $20.9M | $20.5M 99c | SOFR+575 bp | Dec 15, 2026 |
| Hyland Software, Inc. Health Care Technology | term loan first lien | $19.8M | $19.7M 101c | SOFR+475 bp | Sep 19, 2030 |
| Atlas US Finco, Inc. Commercial Services & Supplies | term loan first lien | $19.7M | $19.5M 100c | SOFR+450 bp | Dec 9, 2029 |
| Software LegitScript, LLC | term loan first lien | $18.6M | $18.4M 100c | SOFR+525 bp | Jun 24, 2029 |
| Lightspeed Solution, LLC Diversified Consumer Services | term loan first lien | $18.6M | $18.2M 99c | SOFR+600 bp | Mar 1, 2028 |
| Software Securonix, Inc. | term loan first lien | $22.2M | $18.0M 81c | SOFR+775 bp PIK 3.75% | Apr 5, 2029 |
| ManTech International CP Aerospace & Defense | term loan first lien | $17.9M | $17.8M 101c | SOFR+450 bp | Sep 14, 2029 |
| FLS Holding, Inc. Commercial Services & Supplies | term loan first lien | $20.4M | $17.5M 86c | SOFR+575 bp PIK 0.50% | Dec 15, 2028 |
| Software Hootsuite, Inc. | term loan first lien | $17.6M | $17.4M 100c | SOFR+550 bp | May 22, 2030 |
| Software Coupa Holdings, LLC | term loan first lien | $17.4M | $17.4M 102c | SOFR+525 bp | Feb 27, 2030 |
| Procure Acquireco, Inc. (Procure Analytics) Commercial Services & Supplies | term loan first lien | $17.3M | $17.3M 101c | SOFR+475 bp | Dec 20, 2028 |
| Dwyer Electronic Equipment, Instruments & Components | term loan first lien | $17.3M | $17.2M 100c | SOFR+475 bp | Jul 20, 2029 |
| Tamarack Intermediate, LLC Commercial Services & Supplies | term loan first lien | $16.9M | $16.9M 101c | SOFR+475 bp | Mar 12, 2029 |
| Fetch, Inc. Insurance Services | term loan first lien | $17.0M | $16.8M 100c | SOFR+475 bp | Mar 31, 2033 |
| Distributors ABB Concise Optical Group, LLC | term loan first lien | $17.0M | $16.6M 98c | SOFR+750 bp | Feb 23, 2028 |
| Automobiles Drivecentric Holdings, LLC | term loan first lien | $16.6M | $16.6M 101c | SOFR+450 bp | Aug 15, 2031 |
| Two Six Labs, LLC | term loan first lien | $16.7M | $16.6M 100c | SOFR+500 bp | Aug 20, 2030 |
| PerkinElmer U.S., LLC Health Care Equipment & Supplies | term loan first lien | $16.3M | $16.2M 101c | SOFR+450 bp | Mar 13, 2029 |
| PPV Intermediate Holdings, LLC Health Care Providers & Services | term loan first lien | $16.2M | $15.9M 101c | SOFR+575 bp | Aug 31, 2029 |
| Verdantas, LLC Professional Services | term loan first lien | $16.2M | $15.8M 99c | SOFR+525 bp | May 6, 2031 |
| Software Jawbreaker Parent, Inc. | term loan first lien | $15.9M | $15.6M 99c | SOFR+475 bp | Jan 31, 2033 |
| Deerfield Dakota Holding, LLC Professional Services | term loan first lien | $15.8M | $15.5M 99c | SOFR+575 bp PIK 2.75% | Sep 13, 2032 |
| Orbcomm, Inc. Diversified Telecommunication Services | term loan first lien | $15.2M | $15.1M 100c | SOFR+525 bp | Apr 27, 2032 |
| TA Polaris Buyer, Inc. Health Care Providers & Services | term loan first lien | $14.9M | $14.8M 100c | SOFR+425 bp | Dec 12, 2032 |
| Accordion Partners, LLC Professional Services | term loan first lien | $14.7M | $14.5M 100c | SOFR+500 bp | Nov 17, 2031 |
| HSI Halo Acquisition, Inc. Commercial Services & Supplies | term loan first lien | $14.4M | $14.4M 101c | SOFR+500 bp | Jun 30, 2031 |
| Heartland Veterinary Partners, LLC Health Care Providers & Services | term loan first lien | $14.4M | $14.4M 100c | SOFR+475 bp | Jun 12, 2028 |
| SV Newco 2, Inc. Ground Transportation | term loan first lien | $14.2M | $14.2M 101c | SOFR+500 bp | Jun 2, 2031 |
| 365 Retail Market, LLC Financial Services | term loan first lien | $14.2M | $14.1M 100c | SOFR+475 bp | May 6, 2033 |
| Software Cyara AcquisitionCo, LLC | term loan first lien | $14.1M | $13.8M 99c | SOFR+550 bp | Jun 28, 2029 |
| Software Nasuni Corporation | term loan first lien | $14.0M | $13.8M 99c | SOFR+500 bp | Sep 10, 2030 |
| CSHC Buyerco, LLC Health Care Equipment & Supplies | term loan first lien | $13.8M | $13.7M 100c | SOFR+500 bp | Apr 29, 2033 |
| Ridge Trail US Bidco, Inc. IT Services | term loan first lien | $13.5M | $13.5M 101c | SOFR+450 bp | Sep 30, 2031 |
| Model N, Inc. Life Sciences Tools & Services | term loan first lien | $13.3M | $13.2M 100c | SOFR+475 bp | Jun 27, 2031 |
| Software Granicus, Inc. | term loan first lien | $13.1M | $13.1M 101c | SOFR+575 bp PIK 2.25% | Jan 17, 2031 |
| Software Bottomline Technologies, Inc. | term loan first lien | $13.0M | $13.0M 101c | SOFR+450 bp | May 14, 2029 |
| Higginbotham Insurance Agency, Inc. Insurance Services | term loan first lien | $12.7M | $12.7M 100c | SOFR+450 bp | Jun 11, 2031 |
| DCA Buyer, LLC Health Care Providers & Services | term loan first lien | $12.6M | $12.6M 100c | SOFR+650 bp PIK 2.25% | Jun 2, 2031 |
| Randy's Holdings, Inc. Automobile Components | term loan first lien | $12.6M | $12.4M 100c | SOFR+500 bp | Nov 1, 2029 |
| Goose Borrower, LP Industrial Conglomerates | term loan first lien | $12.4M | $12.2M 100c | SOFR+475 bp | Mar 2, 2033 |
| GI DI Cornfield Acquisition, LLC IT Services | term loan first lien | $12.3M | $12.2M 100c | SOFR+450 bp | Mar 9, 2029 |
| Jeppesen Holdings, LLC Transportation Infrastructure | term loan first lien | $11.8M | $11.6M 99c | SOFR+475 bp | Nov 1, 2032 |
| Software AuditBoard, Inc. | term loan first lien | $12.0M | $11.6M 98c | SOFR+500 bp | Jul 14, 2031 |
| Galway Borrower, LLC Insurance Services | term loan first lien | $11.8M | $11.6M 100c | SOFR+450 bp | Sep 29, 2028 |
| Software Trunk Acquisition, Inc. | term loan first lien | $11.4M | $11.4M 100c | SOFR+575 bp | Feb 19, 2030 |
| Long Term Care Group, Inc. Insurance Services | term loan first lien | $12.4M | $11.2M 90c | SOFR+600 bp | Sep 8, 2027 |
| Sonny's Enterprises, LLC Automobile Components | term loan first lien | $11.1M | $10.8M 99c | SOFR+550 bp | Aug 5, 2028 |
| Essential Services Holding Corporation Diversified Consumer Services | term loan first lien | $11.4M | $10.7M 95c | SOFR+575 bp PIK 2.88% | Jun 17, 2031 |
| Iris Specialty Acquisiton, LLC Insurance Services | term loan first lien | $10.6M | $10.6M 100c | SOFR+450 bp | Nov 22, 2032 |
| Software Artifact Bidco, Inc. | term loan first lien | $10.6M | $10.6M 101c | SOFR+415 bp | Jul 28, 2031 |
| Software Revalize, Inc. | term loan first lien | $11.6M | $10.5M 90c | SOFR+650 bp PIK 1.75% | Apr 16, 2029 |
| Redwood Services Group, LLC IT Services | term loan first lien | $10.5M | $10.4M 101c | SOFR+525 bp | Jun 15, 2029 |
| Majesco, Inc. Insurance Services | term loan first lien | $10.3M | $10.2M 99c | SOFR+450 bp | Jan 7, 2033 |
| Inszone Mid, LLC Insurance Services | term loan first lien | $10.2M | $10.2M 101c | SOFR+525 bp | Nov 30, 2029 |
| One, Inc. Software Corporation Insurance Services | term loan first lien | $10.2M | $10.1M 99c | SOFR+450 bp | Dec 6, 2032 |
| Galway Borrower, LLC Insurance Services | term loan first lien | $10.1M | $10.0M 99c | SOFR+450 bp | Sep 29, 2028 |
| Merative, LP Health Care Providers & Services | term loan first lien | $9.8M | $9.8M 100c | SOFR+450 bp | Sep 30, 2032 |
| Any Hour, LLC Diversified Consumer Services | term loan first lien | $10.7M | $9.5M 90c | SOFR+575 bp PIK 3.25% | May 23, 2030 |
| Pamlico Avant Holdings, LP Electronic Equipment, Instruments & Components | term loan first lien | $9.7M | $9.5M 99c | SOFR+425 bp | Dec 31, 2032 |
| Automobiles Vehlo Purchaser, LLC | term loan first lien | $9.6M | $9.5M 99c | SOFR+525 bp | May 24, 2028 |
| Software GS AcquisitionCo, Inc. | term loan first lien | $10.0M | $9.4M 94c | SOFR+525 bp | May 25, 2028 |
| SV Newco 2, Inc. Ground Transportation | term loan first lien | $9.2M | $9.2M 100c | SOFR+500 bp | Jun 2, 2031 |
| Software Onit, Inc. | term loan first lien | $9.2M | $9.2M 101c | SOFR+475 bp | Jan 27, 2032 |
| Trintech, Inc. Financial Services | term loan first lien | $9.4M | $9.2M 99c | SOFR+475 bp | Jan 28, 2033 |
| Software Formstack Acquisition, Co. | term loan first lien | $9.2M | $9.1M 100c | SOFR+525 bp | Mar 28, 2030 |
| Software Appfire Technologies, LLC | term loan first lien | $9.2M | $9.1M 100c | SOFR+475 bp | Apr 18, 2033 |
| Astra Service Partners, LLC Commercial Services & Supplies | term loan first lien | $9.0M | $9.0M 100c | SOFR+450 bp | Nov 26, 2032 |
| Project Potter Buyer, LLC Building Products | term loan first lien | $8.8M | $8.8M 100c | SOFR+525 bp | Apr 23, 2027 |
| mPulse Mobile, Inc. Health Care Providers & Services | term loan first lien | $9.0M | $8.7M 97c | SOFR+475 bp | Feb 25, 2033 |
| AWP Group Holdings, Inc. Commercial Services & Supplies | term loan first lien | $8.8M | $8.7M 100c | SOFR+591 bp PIK 3.28% | Dec 22, 2032 |
| YI, LLC Health Care Equipment & Supplies | term loan first lien | $8.6M | $8.6M 101c | SOFR+575 bp | Dec 3, 2029 |
| Foundation Risk Partners Corp. Insurance Services | term loan first lien | $8.5M | $8.5M 101c | SOFR+475 bp | Oct 29, 2030 |
| Software Montana Buyer, Inc. | term loan first lien | $8.4M | $8.4M 101c | SOFR+475 bp | Jul 22, 2029 |
| Arcoro Holdings Corp. Construction & Engineering | term loan first lien | $8.5M | $8.3M 98c | SOFR+550 bp | Mar 28, 2030 |
| Redwood Services Group, LLC IT Services | term loan first lien | $8.3M | $8.2M 101c | SOFR+525 bp | Jun 15, 2029 |
| IQN Holding Corp. Professional Services | term loan first lien | $8.1M | $8.1M 100c | SOFR+525 bp | May 2, 2029 |
| TS Imagine, Inc.Investment Capital Markets | term loan first lien | $8.1M | $8.0M 100c | Prime+625 bp | Jun 12, 2031 |
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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
- T Series Middle Market Loan Fund LLCreported
- Latest schedule
- 0001193125-26-344703reported