DFX Intelligence

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B••••••••• C•••••• C••• I•

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

A non-traded business development company, managed by B••••••••• C•••••• A•••••••• L••, holding $820M across 64 borrowers at Jun 30, 2026.

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

As of 2026-06-30 · the latest schedule of investments read for this BDC

Fair value: $820M
Borrowers: 64
Mark on cost: 97.2¢
First lien: 93%

Schedule of investments (177)Quarter by quarter Sponsors

As of 2026-06-30 · the latest schedule of investments read for this BDC

What matters now

$27.8M
on non-accrual, 2 borrowers
2 borrowers on non-accrual, $27.8M principal; the largest is S••••• G••••• S••••••••• L•• ($24.4M).
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 S••••• G••••• S••••••••• L•• →
$27.8M
newly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $27.8M principal: S••••• G••••• S••••••••• L•• ($24.4M), L••••• R••••••••• L•• ($3.44M).
Q2 2026 · The newest credit problems in the book.
FactBDC schedules of investments, 30 Jun 2026Open S••••• G••••• S••••••••• L•• →
8 below 80¢
$59.3M principal
8 positions across 6 borrowers marked below 80¢ on cost, $59.3M 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 1895316 · file 814-01563Show

Fair value

$820M

as of Jun 30, 2026

Principal held

$839M

debt pieces, the filer's figure

Cost

$842M

97c on cost, debt pieces

Unfunded

Not disclosed

commitments not yet drawn

Positions

177

64 borrowers

First lien

93%

98% debt by fair value

Quarters on the tape

since Dec 31, 2022

Facilities held

132

11 sponsors financed

Portfolio through time

Fair value by quarter end$820M as of Jun 30, 2026

Dec 31, 2022$237M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$820M	64	97c	6	612 bp
Mar 31, 2026	$826M	62	98c	8	611 bp
Dec 31, 2025	$916M	63	97c	15	616 bp
Sep 30, 2025	$867M	64	98c	4	627 bp

All 15 quarters

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2025	$823M	62	100c	2	610 bp
Mar 31, 2025	$801M	60	100c	1	616 bp
Dec 31, 2024	$1.1B	61	100c	7	620 bp
Sep 30, 2024	$739M	56	113c	0	628 bp
Jun 30, 2024	$715M	52	113c	0	647 bp
Mar 31, 2024	$678M	47	114c	0	643 bp
Dec 31, 2023	$617M	37	101c	0	661 bp
Sep 30, 2023	$374M	25	102c	0	637 bp
Jun 30, 2023	$314M	23	102c	0	636 bp
Mar 31, 2023	$392M	21	101c	0	653 bp
Dec 31, 2022	$237M	18	100c	0	644 bp

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

What changed

Placed on non-accrualJun 30, 2026
••• Locked
New lender joined a facilityJun 30, 2026
••• Locked
New borrower on a BDC scheduleJun 30, 2026
••• Locked
Placed on non-accrualJun 30, 2026
••• Locked
New lender joined a facilityJun 30, 2026
••• Locked

Full timeline · 20 events

New lender joined a facilityJun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked

Every position change, including routine ones

Largest facilities held, with co-lenders

V•• L••••••••• I•• first lien term loan
1 BDC hold it · matures Dec 13, 2029
$25.0M 101c
C••••••• D••••••• H•••••••• I•• first lien term loan
1 BDC hold it · matures Nov 3, 2028
$24.7M 96c
C•• B••••• I•• first lien term loan
3 BDCs hold it · matures Jul 29, 2029
$24.5M 101c
V••••••• H•••••••• L•• first lien term loan
1 BDC hold it · matures Nov 1, 2028 · possible sponsor B••••••• C•••••• M••••••••• I•••
$23.4M 101c
S••••• G••••• S••••••••• L•• first lien term loan
1 BDC hold it · matures Jun 22, 2026 · possible sponsor G••••••• M••••••••• C••••••• L••
$23.3M 79c
O••• B•••••••• L•• first lien term loan
6 BDCs hold it · matures May 8, 2030
$23.0M 100c
P••••• G••••••• L•• first lien term loan
2 BDCs hold it · matures Jul 29, 2027
$22.3M 101c
I•• A••••••••• L•• first lien term loan
1 BDC hold it · matures Jun 28, 2029
$22.2M 100c
S•••••• B••••• L•• first lien term loan
2 BDCs hold it · matures Sep 19, 2028
$22.0M 93c
V•••••• M••••••••• S••••••• L•• first lien term loan
2 BDCs hold it · matures Jul 26, 2028
$21.9M 100c
C•••••••• T••••••••• L•• first lien term loan
1 BDC hold it · matures Oct 6, 2028 · possible sponsor C••••••••• C••••••
$21.6M 101c
E••••••• I••••••••• H•••••••• I•• first lien term loan
1 BDC hold it · matures Aug 25, 2028
$21.4M 101c

Schedule of investments at Sep 30, 2023

60 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
V•••••• M••••••••• S••••••• L••	term loan first lien	$24.7M	$24.7M 100c	SOFR+625 bp	Jul 26, 2027
C•• F•••••• H•••••••• L••	term loan first lien	$24.9M	$24.6M 100c	SOFR+650 bp	Jun 17, 2026
S•••••• B••••• L••	term loan first lien	$25.0M	$24.3M 100c	SOFR+600 bp	Sep 19, 2028
N•••• A••••••••• L••	term loan first lien	$24.3M	$23.9M 100c	SOFR+675 bp	Jul 27, 2027
J•••••• A••••••••• V••••••• L••	term loan first lien	$22.2M	$22.2M 102c	SOFR+737 bp	Nov 3, 2026
E••••••• I••••••••• H•••••••• I••	term loan first lien	$22.0M	$21.5M 100c	SOFR+650 bp	Aug 25, 2028
O••• B••••••• L••	term loan first lien	$21.2M	$21.2M 100c	SOFR+650 bp	Aug 19, 2027
M•••••• M••••••••• H•••••••• L••	term loan first lien	$20.8M	$20.8M 102c	SOFR+725 bp	Feb 23, 2028
V••••••• H•••••••• L••	term loan first lien	$18.6M	$18.6M 102c	SOFR+675 bp	Nov 1, 2028
V•••• C•••• L••	term loan first lien	$18.8M	$18.6M 101c	SOFR+675 bp	Jul 13, 2027
V•• L••••••••• I•••	term loan first lien	$17.4M	$17.4M 102c	SOFR+625 bp	Dec 13, 2028
N•••• H•••• U••• A••••••••• I•••	term loan first lien	$16.1M	$16.1M 102c	SOFR+625 bp	Oct 30, 2025
E•• V•••••• H•••••••• L••	term loan first lien	$13.7M	$13.7M 102c	SOFR+600 bp	Oct 7, 2028
F•••••••• B••••• L••	term loan first lien	$13.3M	$13.3M 102c	SOFR+625 bp	Mar 22, 2028
E•••••• C••••••••• I•••	term loan first lien	$11.4M	$11.4M 102c	SOFR+675 bp	Nov 25, 2027
Z••••••• M•••••• P•••••••• L••	term loan first lien	$10.0M	$10.0M 102c	SOFR+650 bp	Jun 30, 2028
I•• A••••••••• L••	term loan first lien	$9.9M	$9.9M 100c	SOFR+550 bp	Jun 10, 2027
S•••••••• L••	term loan first lien	$9.9M	$9.9M 101c	SOFR+575 bp	Jun 21, 2027
Y••• F•••• L••	term loan first lien	$9.8M	$9.4M 97c	SOFR+625 bp	Nov 13, 2029
B•• I••••••••• P•••••••• L••	term loan first lien	$8.9M	$8.9M 104c	SOFR+675 bp	Oct 7, 2026
A•••••• B••••• L••	term loan first lien	$7.0M	$7.0M 102c	SOFR+600 bp	Apr 26, 2029
A•••••• B••••• L••	delayed draw term loan lien unstated	$6.7M	$6.7M 104c	SOFR+600 bp	Apr 26, 2029
B•• I••••••••• P•••••••• L••	term loan first lien	$6.0M	$6.0M 104c	Prime+575 bp	Oct 7, 2026
J••• C• C•••••• A•• C••••••••• I•••	term loan first lien	$5.1M	$5.1M 101c	SOFR+600 bp	Dec 23, 2026
K••• P•••••••• M•••••••• L••	term loan first lien	$4.9M	$4.9M 102c	SOFR+650 bp	Jun 23, 2027
D••• H••••••• L••• E••••• I••••••••• H•••••••••	preferred equity equity	$527,000	$3.5M 100c
N•••• H•••• U••• A••••••••• I•••	revolver lien unstated	$1.1M	$1.1M 101c	SOFR+650 bp	Oct 30, 2025
Z••••••• M•••••• P•••••••• L••• C•••• A•	equity equity	$7,000	$1.0M 100c
V••••••• H•••••••• L••	delayed draw term loan lien unstated	$750,000	$750,000 -102c	SOFR+675 bp	Nov 1, 2028
E•• V•••••• H•••••••• L••	delayed draw term loan lien unstated	$434,000	$434,000 -126c	SOFR+600 bp	Oct 7, 2028
B••• H•••••••• L••	equity equity	$250,000	$288,000 115c
F•••••••• B••••• L••	revolver lien unstated	$162,000	$162,000 -109c	SOFR+625 bp	Mar 22, 2028
Z••••••• M•••••• P•••••••• L••	revolver lien unstated	$70,000	$70,000 115c	SOFR+650 bp	Jun 30, 2028
E•• V•••••• H•••••••• L••	revolver lien unstated	$67,000	$67,000 120c	SOFR+600 bp	Oct 7, 2028
E••••••• I••••••••• H•••••••• I••	delayed draw term loan lien unstated	Not disclosed	-$11,000 100c	SOFR+650 bp	Aug 25, 2028
E••••••• I••••••••• H•••••••• I••	revolver lien unstated	Not disclosed	-$20,000 100c	SOFR+650 bp	Aug 25, 2028
M•••••• M••••••••• H•••••••• L••	delayed draw term loan lien unstated	$497,000	-$497,000 102c	SOFR+725 bp	Feb 23, 2028
E•••••• C••••••••• I••	revolver lien unstated	$2.9M	-$2.9M 104c	SOFR+675 bp	Nov 25, 2024
E•• V•••••• H•••••••• L••	delayed draw term loan lien unstated	Not disclosed	Not disclosed	S+600 bp
F•••••••• B••••• L••	revolver lien unstated	Not disclosed	Not disclosed	S+625 bp
V••••••• H•••••••• L••	revolver lien unstated	Not disclosed	Not disclosed	S+675 bp
V•• L••••••••• I•••	revolver lien unstated	Not disclosed	Not disclosed	S+625 bp
F•••••••• B••••• L••	delayed draw term loan lien unstated	Not disclosed	Not disclosed n/a	SOFR+625 bp	Mar 22, 2028
E••••••• I••••••••• H•••••••• I••	delayed draw term loan lien unstated	Not disclosed	Not disclosed	S+650 bp
V••••••• H•••••••• L••	revolver lien unstated	Not disclosed	Not disclosed n/a	SOFR+675 bp	Nov 1, 2028
F•••••••• B••••• L••	delayed draw term loan lien unstated	Not disclosed	Not disclosed	S+625 bp
E•••••• C••••••••• I•••	revolver lien unstated	Not disclosed	Not disclosed	S+675 bp
N•••• H•••• U••• A••••••••• I•••	delayed draw term loan lien unstated	Not disclosed	Not disclosed	S+625 bp
O••• B••••••• L••	revolver lien unstated	Not disclosed	Not disclosed n/a	SOFR+650 bp	Aug 19, 2027
F•••• A••••••• G••••••••• O••••••••• F•••• C•••• X•••••• M••	unstated lien unstated	$1.0M	Not disclosed	5.26%
A•••••• B•••• L••	delayed draw term loan lien unstated	Not disclosed	Not disclosed	S+600 bp
O••• B••••••• L••	revolver lien unstated	Not disclosed	Not disclosed	S+650 bp
A•••••• B••••• L••	revolver lien unstated	Not disclosed	Not disclosed n/a	SOFR+600 bp	Apr 26, 2029
E••••••• I••••••••• H•••••••• I••	revolver lien unstated	Not disclosed	Not disclosed	S+650 bp
V•• L••••••••• I•••	revolver lien unstated	Not disclosed	Not disclosed n/a	SOFR+625 bp	Dec 13, 2028
A•••••• B•••• L••	delayed draw term loan lien unstated	Not disclosed	Not disclosed	S+600 bp
Z••••••• M•••••• P•••••••• L••	revolver lien unstated	Not disclosed	Not disclosed	S+650 bp
N•••• H•••• U••• A••••••••• I•••	delayed draw term loan lien unstated	Not disclosed	Not disclosed n/a	SOFR+625 bp	Oct 30, 2025
A•••••• B••••• L••	revolver lien unstated	Not disclosed	Not disclosed	S+600 bp
E•• V•••••• H•••••••• L••	revolver lien unstated	Not disclosed	Not disclosed	S+600 bp

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Registration

Fiscal year end: 1231reported
Incorporated: MDreported
On the SEC BDC report: 2023 to 2026reported
Filings listed: 16reported10-Q and 10-K since 2022
Latest schedule: 0001104659-26-094146reported