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N••••• C•••••••• P•••••• C•••••• I••••• F•••
A non-traded business development company, managed by C•••••••• P••• A•••••• L••, holding $3.3B across 412 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
- $3.3B
- Borrowers
- 412
- Mark on cost
- 98.8¢
- First lien
- 93%
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
- $33.9Mon non-accrual, 3 borrowers
3 borrowers on non-accrual, $33.9M principal; the largest is I•••• I••••••••• I••••••••• H••••• I•• L•• ($18.2M).
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 I•••• I••••••••• I••••••••• H••••• I•• L•• → - $26.8Mnewly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $26.8M principal: I•••• I••••••••• I••••••••• H••••• I•• L•• ($18.2M), D••••• I••••••••• G•••• L•• ($8.54M).
Q2 2026 · The newest credit problems in the book.
- 12 below 80¢$57.8M principal
12 positions across 9 borrowers marked below 80¢ on cost, $57.8M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 38 → 45loans paying in kind
Loans paying in kind rose from 38 to 45 positions in the quarter to Jun 30, 2026.
Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.
- 382 → 412borrowers
Added a net 30 borrowers in the quarter to Jun 30, 2026, to 412.
Q2 2026 · The book is turning over faster than usual.
Every headline figure, and the identifiersCIK 1911066 · file 814-01494ShowHide
Fair value
$3.3B
as of Jun 30, 2026
Principal held
$3.6B
debt pieces, the filer's figure
Cost
$3.3B
99c on cost, debt pieces
Unfunded
$383M
commitments not yet drawn
Positions
874
412 borrowers
First lien
93%
97% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
610
64 sponsors financed
Portfolio through time
Fair value by quarter end$3.3B as of Jun 30, 2026
Dec 31, 2022$350M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $3.3B | 412 | 99c | 45 | 443 bp |
| Mar 31, 2026 | $2.4B | 382 | 99c | 38 | 440 bp |
| Dec 31, 2025 | $2.2B | 383 | 100c | 38 | 447 bp |
| Sep 30, 2025 | $2.0B | 343 | 99c | 22 | 454 bp |
All 15 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $2.0B | 327 | 99c | 27 | 461 bp |
| Mar 31, 2025 | $1.9B | 316 | 99c | 28 | 463 bp |
| Dec 31, 2024 | $3.4B | 356 | 100c | 53 | 469 bp |
| Sep 30, 2024 | $1.1B | 240 | 99c | 22 | 469 bp |
| Jun 30, 2024 | $946M | 243 | 99c | 19 | 466 bp |
| Mar 31, 2024 | $634M | 213 | 99c | 19 | 485 bp |
| Dec 31, 2023 | $523M | 268 | 99c | 15 | 524 bp |
| Sep 30, 2023 | $446M | 159 | 99c | 12 | 494 bp |
| Jun 30, 2023 | $390M | 93 | 98c | 10 | 581 bp |
| Mar 31, 2023 | $378M | 83 | 99c | 10 | 581 bp |
| Dec 31, 2022 | $350M | 122 | 99c | 10 | 566 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityJun 30, 2026
- Placed on non-accrualJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
Largest facilities held, with co-lenders
- A•••••• I•• first lien term loan2 BDCs hold it · matures Feb 3, 2032$34.1M 100c
- H••••• M••••••••• A••••••••• first lien term loan3 BDCs hold it · matures Mar 30, 2029$32.6M 100c
- C••••••••• B••••••• C••• first lien term loan2 BDCs hold it · matures Sep 25, 2029$31.9M 100c
- A••• B••••• L•• first lien term loan4 BDCs hold it · matures Feb 18, 2033$31.0M 101c
- L••••• S•••••• P•••••••• L•• first lien term loan6 BDCs hold it · matures Feb 17, 2033$29.3M 100c
- R•••• I••••••••• H•••••• C••••••• L•• first lien term loan2 BDCs hold it · matures Apr 4, 2029$29.0M 99c
- H••••••••• B••••• L•• first lien term loan7 BDCs hold it · matures Oct 16, 2030$28.6M 100c
- L•• C••••••••• first lien term loan2 BDCs hold it · matures Dec 17, 2027$26.6M 100c
- R•••• L••••• I•• first lien term loan2 BDCs hold it · matures Feb 6, 2032$26.1M 100c
- E••••••• I•• first lien term loan4 BDCs hold it · matures Jun 1, 2027$25.6M 99c
- F•••• E••••••••• B••••••• L•• first lien term loan3 BDCs hold it · matures Oct 21, 2032$25.6M 97c
- A• C•••••• A••••••••• C••••••••• first lien term loan10 BDCs hold it · matures Jul 2, 2031$25.5M 99c
Schedule of investments at Jun 30, 2025
640 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| B••••••• P• B••••• I••• | delayed draw term loan first lien | $1.0M | -$8,000 400c | S+475 bp | Feb 3, 2032 |
| E•• I••••••••• L•• ••• P••••••••• | delayed draw term loan first lien | $1.0M | -$9,000 180c | S+500 bp | Jul 25, 2030 |
| C••••••• H••• S••••••• L•• | unstated lien unstated | $442,000 | -$9,000 225c | 12.00% | Nov 27, 2031 |
| M••••• C••••••••• A••••••• I••• | delayed draw term loan first lien | $4.5M | -$11,000 | S+500 bp | Oct 16, 2029 |
| S••••••••• R•••••••• G••••• I••• | delayed draw term loan first lien | $11.8M | -$13,000 68c | S+500 bp | Sep 23, 2027 |
| G•••••• F••••••• I••• | revolver lien unstated | $2.1M | -$15,000 56c | S+475 bp | Aug 5, 2030 |
| R••••••• P•••••• L•• | unstated lien unstated | $1.6M | -$15,000 | S+450 bp | May 24, 2032 |
| S••• B••••• I••• | delayed draw term loan first lien | $2.7M | -$16,000 229c | S+500 bp | Mar 28, 2031 |
| V••••• M•••• H•••••••• L•• | unstated lien unstated | $1.7M | -$16,000 107c | S+475 bp | Jul 24, 2031 |
| D••••••• C••••••••• ••• D•••••• M••••• S•• I•• C••••• | delayed draw term loan first lien | $2.6M | -$17,000 170c | S+500 bp | Aug 2, 2030 |
| E••• P••••••••• I••• ••••••••• L•••••••• T••••••••• B••••• L••• | delayed draw term loan first lien | $2.1M | -$18,000 225c | S+550 bp | Feb 14, 2031 |
| A••• B••••• L•• | delayed draw term loan first lien | $2.1M | -$20,000 200c | S+450 bp | Jan 23, 2032 |
| C••• B••••• I••• ••••••••• A•• C••••••••• L•••••• | delayed draw term loan unsecured or subordinated | $1.0M | -$23,000 209c | 10.00% PIK 2.75% | Apr 30, 2031 |
| R•••• T•••• U• B•••• | unstated lien unstated | $3.2M | -$29,000 414c | S+450 bp | Sep 30, 2031 |
| R••••••• P•••••• L•• | unstated lien unstated | $3.2M | -$30,000 | S+450 bp | May 24, 2032 |
| H•• A••••••• C•••• | delayed draw term loan first lien | $2.1M | -$33,000 660c | S+450 bp | Nov 5, 2031 |
| A•• M••••••• H•••••••• I••• | delayed draw term loan first lien | $3.6M | -$35,000 206c | S+475 bp | Mar 18, 2031 |
| A••• H••••••• L•• •••••• | delayed draw term loan first lien | $832,000 | -$38,000 | S+600 bp | Aug 16, 2028 |
| K••• A••••••••• I••• •••••••• | delayed draw term loan first lien | $8.3M | -$38,000 109c | S+575 bp | Jul 6, 2029 |
| C•• M••••••••• S•••••••• L•• •••••••• L••• S••••• | delayed draw term loan first lien | $4.4M | -$38,000 422c | S+500 bp | Mar 27, 2030 |
| A••• M••••• L•• | unstated lien unstated | $4.1M | -$40,000 200c | S+500 bp | Apr 11, 2029 |
| K•••• P•• B•••• L•• | delayed draw term loan first lien | $4.9M | -$46,000 115c | S+475 bp | Nov 15, 2029 |
| K••• A••••••••• I••• ••••••• P••• | delayed draw term loan first lien | $5.8M | -$49,000 408c | S+500 bp | Aug 1, 2029 |
| T••••••• S••••• L•• | unstated lien unstated | $13.6M | -$68,000 | S+500 bp | Jun 25, 2032 |
| I••••• A•••••••• L•• | delayed draw term loan first lien | $7.1M | -$70,000 206c | S+475 bp | Mar 19, 2032 |
| W•• E••••••••• H••••••• I••• | delayed draw term loan first lien | $8.1M | -$80,000 267c | S+450 bp | Aug 31, 2029 |
| B•••••• C••••••• H••••••••• I••••••••• L•• | delayed draw term loan first lien | $4.3M | -$92,000 438c | S+525 bp | Dec 22, 2031 |
| A••••••••• L•• | delayed draw term loan first lien | $3.3M | -$96,000 | S+500 bp | Sep 10, 2030 |
| H•••••••• P••••• P•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| A••• B••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| A•• S••• R••••••••• L•••••• L•• ••• S••• H••••••••• S••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | |
| I••••• P••••• C••••••••• •••••• E••••••••• G••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| S••••• I••••••••• S••••••• I••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| 3•• H•••••• I••• ••• T•••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| T•• B••••• L•• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+475 bp | |
| A• C•••••• A••••••••• C••••••••• •••••• B••••••• C••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| C•• M••••••••• S•••••••• L•• •••••••• L••• S••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| R••• P•••••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| E••••••• I••• | revolver lien unstated | Not disclosed | Not disclosed | S+425 bp | |
| M•• B•••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| R••••• H•••••••• I••• ••••••• W•••••••• A•••••••••) | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| R••••••• P•••••• L•• | revolver lien unstated | Not disclosed | Not disclosed | S+450 bp | |
| L•••• G••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| I•• I••••••••• I•• L•• •••••••• D•• I••••••••• N••••••••• S••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | |
| O••••• L••••• G••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| M••••• C••••••••• A••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| V•••••• E••••••• S•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| B•• A•••• A•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| C••••• S•••••••• A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| C••••••••• A••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+400 bp | |
| P• I••••••••• H••••••• I••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+325 bp | |
| T•• B••••• L•• ••••••••• S••••• S•••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | |
| T••••• M•••• | unstated lien unstated | Not disclosed | Not disclosed | S+388 bp | |
| K• B••••• A••••••••• I••• ••••••••• L•••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| K••• A••••••••• I••• •••••• P••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| O•• M•••• | unstated lien unstated | Not disclosed | Not disclosed | S+432 bp | |
| P••••••• A••••••••• I••• ••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+575 bp | |
| C•••• A•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| S••••••••• A••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+400 bp | |
| V••••• S•••••• P•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+600 bp | |
| D•• H•••••• L•• ••• P••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| A••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| T•••••• B••••• L•• ••••••• M•••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| S••••• A••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+300 bp | |
| A•• G•••• H•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| T••••••• S••••• L•• | revolver lien unstated | Not disclosed | Not disclosed | S+500 bp | |
| L•• V•••••• H••••••• I••• | revolver lien unstated | Not disclosed | Not disclosed | S+475 bp | |
| R•••• T•••• U• B••••• I••• ••••••• I•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| S•••• • H••••• A••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| H•••••••• V••••••••• P••••••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| T••••••• S••••• L•• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | S+500 bp | |
| S•••• P•• B•••• L•• ••••• F••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| D••••••• H•••• C•••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| A••••• P•••••• S••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| T••••• G••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| B•••••• C••••••• H••••••••• I••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| W•• E••••••••• H••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| B•• A•••• A•••••••• L•• | revolver lien unstated | Not disclosed | Not disclosed | S+450 bp | |
| T•••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| B••••••• P• B••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| E•• I••••••••• L•• ••• P••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| T•••• M•••• | unstated lien unstated | Not disclosed | Not disclosed | S+429 bp | |
| N•••• H•••• S•••• B••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| F•••••••• M••••••••• G••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| G•••••• F••••••• I••• | revolver lien unstated | Not disclosed | Not disclosed | S+475 bp | |
| P••••••• S••••• P•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+625 bp | |
| E•••• F•••••• H•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| T•••• I••• | revolver lien unstated | Not disclosed | Not disclosed | S+475 bp | |
| U•• W•••• I••••••••• H•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| E••• P••••••••• I••• ••••••••• L•••••••• T••••••••• B••••• L••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | |
| V••••• M•••• H•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| C••••••• H••• S••••••• L•• | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | ||
| C••••• S•••••• P•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| T••• L••••• P•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| A••• H••••••• L•• •••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+600 bp | |
| A••• H••••••• C••••••••• L• •••••••• S•••••• T••••••••• P•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D••••••• C••••••••• ••• D•••••• M••••• S•• I•• C••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| A••• M••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| T••••••••• P•••••••• I••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+425 bp | |
| I••••• A•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- unknownreported
- On the SEC BDC report
- 2022 to 2026reported
- Filings listed
- 17reported10-Q and 10-K since 2022
- Latest schedule
- 0001628280-26-055912reported