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

Stellus Private Credit BDC

BDCnon-tradedCIK 1901037file 814-01475HOUSTON, TXmanaged by STELLUS PRIVATE BDC ADVISOR, LLC

Fair value

$421M

as of Jun 30, 2026

Principal held

$384M

debt pieces, the filer's figure

Cost

$410M

103c on cost

Unfunded

n/a

commitments not yet drawn

Positions

337

89 borrowers

First lien

93% debt by fair value

Quarters on the tape

since Sep 30, 2022

Facilities held

194

18 sponsors financed

Portfolio through time

Fair value by quarter end$421M as of Jun 30, 2026

Sep 30, 2022$127M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$421M	89	100c	15	560 bp
Mar 31, 2026	$405M	84	99c	7	570 bp
Dec 31, 2025	$540M	88	100c	6	573 bp
Sep 30, 2025	$376M	83	100c	10	585 bp
Jun 30, 2025	$340M	78	100c	12	593 bp
Mar 31, 2025	$335M	76	100c	10	616 bp
Dec 31, 2024	$574M	74	99c	15	604 bp
Sep 30, 2024	$257M	65	100c	13	619 bp
Jun 30, 2024	$254M	63	100c	8	657 bp
Mar 31, 2024	$216M	53	100c	8	668 bp
Dec 31, 2023	$410M	52	100c	12	656 bp
Sep 30, 2023	$212M	47	101c	3	634 bp
Jun 30, 2023	$188M	44	100c	0	628 bp
Mar 31, 2023	$165M	39	100c	0	614 bp
Dec 31, 2022	$188M	35	100c	0	613 bp
Sep 30, 2022	$127M	31	99c	0	606 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 borrower on a BDC scheduleJun 30, 2026
OW RSG LLC first appears in a BDC schedule (2 lenders)
New borrower on a BDC scheduleJun 30, 2026
VeloSource Purchaser, LLC first appears in a BDC schedule (2 lenders)
New lender joined a facilityJun 30, 2026
Stellus Private Credit BDC joins Elder Care Opco LLC delayed draw (unknown) held by 2 other BDCs
Marked down (one lender)Jun 30, 2026
Stellus Private Credit BDC: fair value markdown in Exigo Intermediate II, LLC (100 to 87 cents on cost)
Spread increasedJun 30, 2026
Stellus Private Credit BDC: spread increased in Spectra Confectionery Limited (5.75% to 6.25%)
PIK interest appearsJun 30, 2026
Stellus Private Credit BDC: pik added in Monitorus Holding, LLC (0.00% to 6.00%)
PIK interest appearsJun 30, 2026
Stellus Private Credit BDC: pik added in Monitorus Holding, LLC (0.00% to 6.00%)
PIK interest appearsJun 30, 2026
Stellus Private Credit BDC: pik added in Monitorus Holding, LLC (0.00% to 6.00%)
PIK interest appearsJun 30, 2026
Stellus Private Credit BDC: pik added in HV Watterson Holdings, LLC (0.00% to 6.00%)
PIK interest appearsJun 30, 2026
Stellus Private Credit BDC: pik added in Spectra Confectionery Limited (0.00% to 0.50%)
Maturity extended (observed)Jun 30, 2026
Stellus Private Credit BDC: maturity extended in Monitorus Holding, LLC (2027-05-24 to 2029-05-30)
New borrower on a BDC scheduleJun 30, 2026
evolv Holdco, LLC first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleMar 31, 2026
Synergy Health Partners MSO, LLC first appears in a BDC schedule (2 lenders)
Lender left a facilityMar 31, 2026
Stellus Private Credit BDC no longer holds Inovex Information Systems Incorporated revolver after 2026-03-31; 1 BDC(s) still hold it
Marked down (one lender)Mar 31, 2026
Stellus Private Credit BDC: fair value markdown in Recharged Opco, LLC (181 to 167 cents on cost)
Marked down (one lender)Mar 31, 2026
Stellus Private Credit BDC: fair value markdown in HV Watterson Holdings, LLC (67 to 58 cents on cost)
Marked down (one lender)Mar 31, 2026
Stellus Private Credit BDC: fair value markdown in HV Watterson Holdings, LLC (67 to 58 cents on cost)
Marked down (one lender)Mar 31, 2026
Stellus Private Credit BDC: fair value markdown in HV Watterson Holdings, LLC (67 to 58 cents on cost)
Marked down (one lender)Mar 31, 2026
Stellus Private Credit BDC: fair value markdown in Monitorus Holding, LLC (110 to 30 cents on cost)
PIK interest appearsMar 31, 2026
Stellus Private Credit BDC: pik added in Eskola LLC (0.00% to 9.71%)

Every position change, including routine ones

Largest facilities held, with co-lenders

COPILOT Provider Support Services, LLC term loan
2 BDCs hold it · matures Nov 22, 2027 · QHP Capital, L.P.
$9.2M 101c
Pilot Power Group Acquisition, Inc term loan
2 BDCs hold it · matures Dec 18, 2030
$9.0M 101c
AGT Robotique Inc term loan
2 BDCs hold it · matures Jun 22, 2029
$8.3M 99c
Amika OpCo LLC first lien term loan
1 BDC hold it · matures Jul 1, 2029
$8.2M 101c
MacKenzie Childs Acquisition, Inc term loan
2 BDCs hold it · matures Sep 2, 2027 · Stellus Capital Management, LLC
$8.1M 100c
VeloSource Purchaser, LLC term loan
2 BDCs hold it · matures Apr 3, 2031
$7.8M 100c
Axis Portable Air, LLC delayed draw term loan
2 BDCs hold it · matures Dec 31, 2030 · Stellus Capital Management, LLC
$7.8M 100c
Guidant Corp term loan
2 BDCs hold it · matures Mar 12, 2029
$7.5M 102c
DFO Enterprises, LLC term loan
2 BDCs hold it · matures Sep 22, 2030
$7.3M 102c
Synergy Health Partners MSO, LLC term loan
2 BDCs hold it · matures Mar 6, 2031
$7.3M 100c
Champion Services Acquireco LLC term loan
2 BDCs hold it · matures Sep 19, 2030
$7.2M 99c
Identity Theft Guard Solutions, Inc term loan
2 BDCs hold it · matures Feb 28, 2030 · Kingswood Capital Management, L.P.
$7.0M 101c

Schedule of investments at Jun 30, 2026

337 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
Synergy Health Partners MSO, LLC	term loan lien unstated	$7.3M	$7.2M 100c	SOFR+500 bp	Mar 6, 2031
OW RSG LLC	term loan lien unstated	$6.5M	$6.4M 100c	SOFR+550 bp	Apr 27, 2031
COPILOT Provider Support Services, L L C	term loan lien unstated	$5.6M	$5.6M 101c	SOFR+625 bp	Nov 22, 2027
AGT Robotique Inc.	term loan lien unstated	$5.1M	$5.0M 99c	SOFR+550 bp	Jun 22, 2029
VeloSource Purchaser, LLC	term loan lien unstated	$5.1M	$5.0M 100c	SOFR+525 bp	Apr 3, 2031
MacKenzie Childs Acquisition, Inc	term loan lien unstated	$5.0M	$5.0M 100c	SOFR+550 bp	Sep 2, 2027
Identity Theft Guard Solutions, Inc.	term loan lien unstated	$5.0M	$4.9M 101c	SOFR+550 bp	Feb 28, 2030
DFO Enterprises, LLC	term loan lien unstated	$4.9M	$4.9M 102c	SOFR+500 bp	Sep 22, 2030
Pilot Power Group Acquisition, Inc.	term loan lien unstated	$4.9M	$4.9M 101c	SOFR+525 bp	Dec 18, 2030
Champion Services Acquireco LLC	term loan lien unstated	$5.0M	$4.8M 99c	SOFR+525 bp	Sep 19, 2030
Bart amp; Associates, LLC	delayed draw term loan lien unstated	$4.6M	$4.6M 101c	SOFR+500 bp	Aug 16, 2030
Guidant Corp.	term loan lien unstated	$4.6M	$4.6M 102c	SOFR+650 bp	Mar 12, 2029
Onpoint Industrial Services, LLC	term loan lien unstated	$4.5M	$4.5M 101c	SOFR+600 bp	Nov 16, 2027
Tiger 21, LLC	term loan lien unstated	$4.5M	$4.5M 102c	SOFR+450 bp	Dec 30, 2030
Silver Corporate Holdings LLC	term loan lien unstated	$4.6M	$4.5M 99c	SOFR+550 bp	Jan 9, 2031
Pure Upper Holdco LLC	term loan lien unstated	$4.5M	$4.4M 100c	SOFR+475 bp	Dec 3, 2031
Amika OpCo LLC	term loan first lien	$4.3M	$4.3M 101c	SOFR+525 bp	Jul 1, 2029
Strategus, LLC	term loan lien unstated	$4.1M	$4.0M 100c	SOFR+500 bp	Jan 27, 2031
Pilot Power Group Acquisition, Inc.	term loan lien unstated	$4.1M	$4.0M 101c	SOFR+525 bp	Dec 18, 2030
Monitorus Holding LLC	term loan lien unstated	$4.1M	$4.0M 98c	9.00% PIK 6.00%	May 30, 2029
Inoapps Bidco LLC	term loan lien unstated	$3.9M	$3.9M 100c	SOFR+575 bp	Aug 15, 2028
The Millennium Alliance LLC	term loan lien unstated	$3.7M	$3.6M 99c	SOFR+475 bp	Jul 31, 2031
Pacific Shoring Holdings, LLC	term loan lien unstated	$3.6M	$3.6M 101c	SOFR+500 bp	Jan 10, 2030
COPILOT Provider Support Services, LLC	term loan lien unstated	$3.6M	$3.6M 101c	SOFR+625 bp	Nov 22, 2027
Norplex Micarta Acquisition, Inc.	term loan lien unstated	$3.6M	$3.6M 100c	SOFR+525 bp	Oct 31, 2029
Said Intermediate, LLC	term loan lien unstated	$3.5M	$3.5M 101c	SOFR+550 bp	Jun 13, 2029
Evolv Consulting, LLC	term loan lien unstated	$3.5M	$3.5M 101c	SOFR+650 bp	Dec 7, 2028
Precision Strategies, LLC	term loan lien unstated	$3.5M	$3.5M 100c	SOFR+500 bp	Mar 3, 2031
Compost 360 Acquisition, LLC	term loan lien unstated	$3.6M	$3.4M 97c	SOFR+650 bp PIK 1.50%	Aug 2, 2028
AdCellerant LLC Term A Loan	unstated lien unstated	$3.4M	$3.4M 101c	SOFR+600 bp	Dec 12, 2028
Eskola LLC	term loan lien unstated	n/a	$3.3M 94c	SOFR+550 bp PIK 9.69%	Dec 19, 2029
iNovex Information Systems Incorporated	term loan lien unstated	$3.4M	$3.3M 100c	SOFR+525 bp	Dec 17, 2030
AGT Robotique Inc	term loan lien unstated	$3.2M	$3.2M 99c	SOFR+550 bp	Jun 22, 2029
MacKenzie-Childs Acquisition, Inc.	term loan lien unstated	$3.2M	$3.2M 100c	SOFR+550 bp	Sep 2, 2027
Monarch Behavioral Therapy, LLC	term loan lien unstated	$3.1M	$3.1M 101c	SOFR+500 bp	Jun 6, 2030
Watterson Renewalco Holdings, LLC	term loan lien unstated	$3.1M	$3.1M 100c	6.00% PIK 6.00%	Jul 2, 2029
TriplePoint Acquisition Holdings LLC	term loan lien unstated	$3.0M	$3.0M 101c	SOFR+525 bp	May 31, 2029
Michelli, LLC	delayed draw term loan lien unstated	$2.9M	$2.9M 101c	SOFR+500 bp	Dec 21, 2028
TriplePoint Acquisition Holdings LLC, TriplePoint Holdco LLC	equity equity	n/a	$2.9M 876c
Guidant Corp.	term loan lien unstated	$2.9M	$2.9M 102c	SOFR+650 bp	Mar 12, 2029
Valor Buyco LLC	term loan lien unstated	$2.9M	$2.9M 100c	SOFR+475 bp	Dec 23, 2031
RIA Advisory Borrower, LLC	term loan lien unstated	$2.9M	$2.9M 101c	SOFR+550 bp	Aug 2, 2027
The Hardenbergh Group, Inc.	term loan lien unstated	$2.8M	$2.8M 101c	SOFR+600 bp	Aug 7, 2028
Lightning Intermediate II, LLC	term loan lien unstated	$2.8M	$2.8M 100c	SOFR+600 bp	Jun 5, 2028
Craftable Intermediate II Inc.	term loan lien unstated	$2.8M	$2.8M 101c	SOFR+550 bp	Jun 30, 2028
Amika OpCo LLC	term loan first lien	$2.8M	$2.8M 101c	SOFR+525 bp	Jul 1, 2029
Channel Partners Intermediateco, LLC	term loan lien unstated	$2.8M	$2.8M 100c	SOFR+675 bp	Feb 7, 2027
Plus Delta Buyer LLC	term loan lien unstated	$2.8M	$2.7M 100c	SOFR+525 bp	Jan 16, 2031
DMD Systems Recovery, LLC	delayed draw term loan lien unstated	$2.7M	$2.7M 101c	SOFR+500 bp	Aug 22, 2031
VeloSource Purchaser, LLC	term loan lien unstated	$2.7M	$2.7M 100c	SOFR+525 bp	Apr 3, 2031
Solomon AcquisitionCo, LLC	term loan lien unstated	$2.7M	$2.7M 100c	SOFR+525 bp	Apr 13, 2032
MBH Management LLC	term loan lien unstated	$2.6M	$2.6M 101c	SOFR+500 bp	Nov 15, 2029
2X LLC	delayed draw term loan lien unstated	$2.6M	$2.6M 101c	SOFR+500 bp	Jun 5, 2028
Valor Buyco LLC	delayed draw term loan lien unstated	$2.6M	$2.6M 100c	SOFR+475 bp	Dec 23, 2031
Madison Logic Holdings, Inc	term loan lien unstated	$2.9M	$2.6M 91c	SOFR+700 bp	Dec 30, 2028
Impact Home Services LLC	term loan lien unstated	$2.6M	$2.6M 100c	SOFR+850 bp	Apr 28, 2028
Curion Holdings, LLC	term loan lien unstated	$2.5M	$2.5M 101c	SOFR+550 bp	Dec 31, 2028
AMII Acquisition, LLC	term loan lien unstated	$2.5M	$2.5M 101c	SOFR+450 bp	Dec 4, 2029
Axis Portable Air, LLC	delayed draw term loan lien unstated	$2.4M	$2.4M 99c	SOFR+475 bp	Dec 31, 2030
Monitorus Holding LLC	term loan lien unstated	$2.5M	$2.4M 98c	9.00% PIK 6.00%	May 30, 2029
Red's All Natural, LLC	term loan lien unstated	$2.4M	$2.4M 101c	SOFR+450 bp	Jan 31, 2029
Exigo LLC	term loan lien unstated	$2.8M	$2.4M 87c	SOFR+625 bp	Mar 16, 2027
DFO Enterprises, LLC	term loan lien unstated	$2.4M	$2.4M 102c	SOFR+500 bp	Sep 22, 2030
Elder Care Opco LLC	term loan lien unstated	$2.4M	$2.4M 100c	SOFR+475 bp	Jul 31, 2030
MedLearning Group, LLC	term loan lien unstated	$2.3M	$2.3M 100c	SOFR+550 bp	Dec 30, 2027
Solid Surface Holdco, LLC	delayed draw term loan lien unstated	$2.3M	$2.3M 101c	SOFR+525 bp	Jun 6, 2030
Environmental Remedies, LLC	term loan lien unstated	$2.3M	$2.3M 100c	SOFR+525 bp	Jan 15, 2030
Norplex Micarta Acquisition, Inc.	term loan lien unstated	$2.3M	$2.3M 100c	SOFR+525 bp	Oct 31, 2029
Said Intermediate, LLC	term loan lien unstated	$2.2M	$2.2M 101c	SOFR+550 bp	Jun 13, 2029
American Refrigeration	term loan lien unstated	$2.2M	$2.2M 101c	SOFR+500 bp	Mar 31, 2028
Compost 360 Acquisition, LLC	term loan lien unstated	$2.3M	$2.2M 97c	SOFR+650 bp PIK 1.50%	Aug 2, 2028
AdCellerant LLC	term loan lien unstated	$2.2M	$2.2M 101c	SOFR+600 bp	Dec 12, 2028
Champion Services Acquireco LLC	term loan lien unstated	$2.2M	$2.2M 99c	SOFR+525 bp	Sep 19, 2030
International Cybernetics Acquisition, LLC	term loan lien unstated	$2.2M	$2.1M 100c	SOFR+525 bp	Jun 3, 2030
Mobotrex Acquisition, LLC	term loan lien unstated	$2.1M	$2.1M 100c	SOFR+500 bp	Jun 7, 2031
Carolinas Buyer, Inc.	term loan lien unstated	$2.1M	$2.1M 99c	SOFR+525 bp	Dec 20, 2030
Curion Holdings, LLC	term loan lien unstated	$2.0M	$2.0M 101c	SOFR+550 bp	Dec 31, 2028
Bart amp; Associates, LLC	term loan lien unstated	n/a	$2.0M 101c	SOFR+500 bp	Aug 16, 2030
Identity Theft Guard Solutions, Inc.	term loan lien unstated	$2.0M	$2.0M 101c	SOFR+550 bp	Feb 28, 2030
Tiger 21, LLC	term loan lien unstated	$2.0M	$2.0M 102c	SOFR+450 bp	Dec 30, 2030
Monarch Behavioral Therapy, LLC	term loan lien unstated	$2.0M	$2.0M 101c	SOFR+500 bp	Jun 6, 2030
Michelli, LLC	delayed draw term loan lien unstated	$1.9M	$1.9M 101c	SOFR+500 bp	Dec 21, 2028
Mobotrex Acquisition, LLC	term loan lien unstated	$1.9M	$1.9M 100c	SOFR+500 bp	Jun 7, 2031
Eskola LLC	delayed draw term loan lien unstated	$2.0M	$1.9M 93c	SOFR+550 bp PIK 9.84%	Dec 19, 2029
FairWave Holdings, LLC	term loan lien unstated	$1.8M	$1.8M 101c	SOFR+675 bp	Apr 1, 2029
Strategus, LLC	term loan lien unstated	$1.8M	$1.8M 100c	SOFR+500 bp	Jan 27, 2031
The Hardenbergh Group, Inc.	term loan lien unstated	$1.8M	$1.8M 101c	SOFR+600 bp	Aug 7, 2028
Lightning Intermediate II, LLC	term loan lien unstated	$1.8M	$1.8M 100c	SOFR+600 bp	Jun 5, 2028
Craftable Intermediate II Inc.	term loan lien unstated	$1.8M	$1.8M 101c	SOFR+550 bp	Jun 30, 2028
Fidus Systems Inc.	term loan lien unstated	$1.8M	$1.8M 100c	SOFR+550 bp	Oct 17, 2031
Onpoint Industrial Services, LLC	term loan lien unstated	$1.8M	$1.8M 101c	SOFR+600 bp	Nov 16, 2027
Channel Partners Intermediateco, LLC	term loan lien unstated	$1.8M	$1.8M 100c	SOFR+675 bp	Feb 7, 2027
2X LLC	term loan lien unstated	$1.8M	$1.8M 101c	SOFR+500 bp	Jun 5, 2028
2X LLC	term loan lien unstated	$1.7M	$1.7M 101c	SOFR+500 bp	Jun 5, 2028
Madison Logic Holdings, Inc.	term loan lien unstated	$1.9M	$1.7M 91c	SOFR+700 bp	Dec 30, 2028
Inoapps Bidco, LLC	delayed draw term loan lien unstated	$1.6M	$1.6M 100c	SOFR+575 bp	Aug 15, 2028
Pacific Shoring Holdings, LLC	term loan lien unstated	$1.6M	$1.6M 101c	SOFR+500 bp	Jan 10, 2030
Monitorus Holding, LLC	delayed draw term loan lien unstated	$1.6M	$1.6M 98c	9.00% PIK 6.00%	May 30, 2029
Solid Surface Holdco, LLC	term loan lien unstated	$1.6M	$1.6M 102c	SOFR+525 bp	Jun 6, 2030
Axis Portable Air, LLC	delayed draw term loan lien unstated	$1.6M	$1.6M 100c	SOFR+475 bp	Dec 31, 2030

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Registration

Fiscal year end: 1231reported
Incorporated: DEreported
On the SEC BDC report: 2026 to 2026reported
Filings listed: 18reported10-Q and 10-K since 2022
Latest schedule: 0001104659-26-094771reported