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S•••• S••••• L•••••• P•••••••
Business development companymanaged by S•••• S••••• L•••••• P••••••• A•••••••• L••Non-traded· DALLAS, TX
A non-traded business development company, managed by S•••• S••••• L•••••• P••••••• A•••••••• L••, holding $9.0B across 85 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
- $9.0B
- Borrowers
- 85
- Mark on cost
- 103.6¢
- First lien
- 97%
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
- $0on non-accrual, 1 borrower
1 borrower on non-accrual, $0 principal; the largest is B•• B••• a•• B••••• I••• A•• F••• ($0).
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 B•• B••• a•• B••••• I••• A•• F••• →
Every headline figure, and the identifiersCIK 1925309 · file 814-01543ShowHide
Fair value
$9.0B
as of Jun 30, 2026
Principal held
Not disclosed
debt pieces, the filer's figure
Cost
$8.6B
104c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
125
85 borrowers
First lien
97%
97% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
106
6 sponsors financed
Portfolio through timeHow each quarter is readEach quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Fair value by quarter end$9.0B as of Jun 30, 2026
Mar 31, 2022$7.8M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $9.0B | 85 | 104c | 19 | 649 bp |
| Mar 31, 2026 | $8.9B | 85 | 103c | 18 | 653 bp |
| Dec 31, 2025 | $8.5B | 83 | 105c | 19 | 636 bp |
| Sep 30, 2025 | $8.0B | 81 | 107c | 18 | 641 bp |
All 16 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $7.7B | 83 | 107c | 22 | 668 bp |
| Mar 31, 2025 | $29B | 81 | 104c | 23 | 648 bp |
| Dec 31, 2024 | $30B | 80 | 104c | 26 | 672 bp |
| Sep 30, 2024 | $26B | 79 | 104c | 20 | 695 bp |
| Jun 30, 2024 | $20B | 63 | 104c | 8 | 687 bp |
| Mar 31, 2024 | $17B | 54 | 102c | 7 | 714 bp |
| Dec 31, 2023 | $14B | 47 | 102c | 7 | 720 bp |
| Sep 30, 2023 | $8.0B | 33 | 102c | 4 | 715 bp |
| Jun 30, 2023 | $6.7B | 25 | 101c | 3 | 716 bp |
| Mar 31, 2023 | $3.3B | 16 | 101c | 1 | 700 bp |
| Dec 31, 2022 | $3.0B | 11 | 100c | 0 | 679 bp |
| Mar 31, 2022 | $7.8M | 0 | n/a | 0 | n/a |
Sponsors financedHow sponsors are countedCounted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
No borrower on this schedule has a sponsor attribution yet.
What changed
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Marked down (one lender)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Placed on non-accrualMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
Largest facilities held, with co-lenders
- S•••••••• G••• first lien term loan1 BDC hold it · matures Sep 1, 2030Not disclosed 102c
- R••• A••••••••• L•• first lien term loan1 BDC hold it · matures Jan 1, 2030Not disclosed 100c
- A• E•••• P••••• other1 BDC hold itNot disclosed 120c
- B••• I••••••• P••••••••• I•• first lien term loan1 BDC hold it · matures Oct 1, 2030Not disclosed 101c
- B•• B••• a•• B••••• I••• R••• U• D•• term loan1 BDC hold itNot disclosed 77c
- B•• B••• a•• B••••• I••• A•• F••• term loan1 BDC hold it · matures Aug 1, 2027Not disclosed 77c
- P•• T• H•••••••• I•• first lien term loan24 BDCs hold it · matures Feb 3, 2031Not disclosed 97c
- U•• D•••••• L•• first lien revolver4 BDCs hold it · matures Apr 30, 2030Not disclosed 102c
- R••• A••••••••• L•• second lien term loan1 BDC hold it · matures Jan 1, 2031Not disclosed 102c
- V••••••• C••••••• R•••••••• I•• first lien term loan1 BDC hold it · matures Sep 1, 2031 · possible sponsor G•• C•••••• M••••••••• L••••••Not disclosed 100c
- L•••••• E•••••• L•• first lien term loan1 BDC hold it · matures Feb 1, 2027 · possible sponsor A•••••• C•••••• P•••••••Not disclosed 101c
- B••••• B•••• first lien term loan1 BDC hold it · matures Mar 1, 2032Not disclosed 106c
Schedule of investments at Jun 30, 2023
52 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| T•••• I••••••••• | unstated lien unstated | Not disclosed | $1.8B 101c | ||
| D••• I••••••••• | unstated lien unstated | Not disclosed | $1.7B 101c | ||
| D••• I••••••••• F•••••••• S••••••• Financial S••••••s | unstated lien unstated | Not disclosed | $276M 101c | ||
| D••• I••••••••• B••••••• S••••••• B••••••• S••••••s | unstated lien unstated | Not disclosed | $263M 101c | ||
| D••• I••••••••• I•••••••• I•••••••• | unstated lien unstated | Not disclosed | $253M 101c | ||
| H•••• R••••••• S•••••• S••••••• | unstated lien unstated | Not disclosed | $249M 102c | ||
| D••• I••••••••• R••••• a•• C••••••• P••••••• R••••• and C••••••• P••••••• | unstated lien unstated | Not disclosed | $241M 98c | ||
| B••••••• S•••••• G•••••• P•••••• I••• | term loan first lien | Not disclosed | $149M 101c | S+725 bp | May 1, 2030 |
| H•••• R••••••• S•••••• S••••••• B•••••• L•• | term loan first lien | Not disclosed | $140M 102c | S+663 bp | Nov 1, 2028 |
| B••• H•••••••• I••• Financial S••••••s | term loan first lien | Not disclosed | $136M 101c | S+800 bp | Dec 1, 2028 |
| C••••••••• I••• R••••• and C••••••• P••••••• | term loan first lien | Not disclosed | $135M 96c | S+650 bp | Dec 1, 2027 |
| P••• I••••••• H•••••• C•••• Financial S••••••s | term loan first lien | Not disclosed | $134M 101c | S+700 bp | Oct 1, 2029 |
| M••••••••• A••••••• I••• | term loan first lien | Not disclosed | $134M 101c | S+725 bp | Oct 1, 2028 |
| I••••••• S••••••• C•••• H•••••••• L•• | term loan first lien | Not disclosed | $128M 102c | S+750 bp | Feb 1, 2030 |
| I••••••• S••••••• A•••• B••••• I••• | term loan first lien | Not disclosed | $119M 100c | S+650 bp | Jul 1, 2030 |
| H•••• R••••••• S•••••• S••••••• H••••••• I••• | term loan first lien | Not disclosed | $108M 101c | S+725 bp | May 1, 2029 |
| D••• I••••••••• H••••••••• H••••••••• | unstated lien unstated | Not disclosed | $101M 101c | ||
| B••••••• S•••••• B••• I••••••• P••••••••• I••• | term loan first lien | Not disclosed | $97.8M 101c | S+900 bp PIK 13.98% | Oct 1, 2030 |
| R••••• U• B•••• I• C•••• H••••••••• | term loan first lien | Not disclosed | $96.9M 101c | S+675 bp | Mar 1, 2029 |
| L•••••• E•••••• L•• Oil, Gas and C••••••••• F•••• | term loan first lien | Not disclosed | $96.3M 101c | S+710 bp | Feb 1, 2027 |
| D•••• P•••••• I•• I•••••••• | term loan first lien | Not disclosed | $56.6M 101c | S+750 bp | Mar 1, 2029 |
| B•• B••• a•• B••••• I••• S••••••••• D•• R••••• and C••••••• P••••••• | term loan lien unstated | Not disclosed | $50.4M 99c | S+790 bp | Aug 1, 2023 |
| B•• B••• a•• B••••• I••• A•• F••• R••••• and C••••••• P••••••• | term loan lien unstated | Not disclosed | $45.9M 100c | S+990 bp | Aug 1, 2027 |
| C••••••••• B••••• S••••••• H•••••••• L•• | term loan first lien | Not disclosed | $38.6M 103c | S+735 bp | Oct 1, 2026 |
| E••••• a•• O•••• I••••••••• | unstated lien unstated | Not disclosed | $20.7M 100c | ||
| D••• I••••••••• C•••••••• C•••••••• | unstated lien unstated | Not disclosed | $20.6M 113c | ||
| E••••• a•• O•••• I••••••••• H••••••••• H••••••••• | unstated lien unstated | Not disclosed | $12.9M 100c | ||
| E••••• L•• B•••• S••• C•••••••• | term loan first lien | Not disclosed | $12.9M 114c | S+675 bp | Sep 1, 2028 |
| B••••••• s•••••• G•••••• P•••••• I••• | unstated lien unstated | Not disclosed | $10.0M 103c | S+725 bp | |
| B•• B••• a•• B••••• I••• R••• U• D•• R••••• and C••••••• P••••••• | term loan lien unstated | Not disclosed | $9.9M 98c | S+790 bp PIK 12.99% | Aug 1, 2023 |
| B•••••••• I••• A••••••••• | term loan first lien | Not disclosed | $9.8M 100c | S+575 bp | May 1, 2029 |
| E••••• L•• B•••• S••• C•••••••• | term loan first lien | Not disclosed | $7.8M 112c | S+675 bp | Sep 1, 2028 |
| H•••• R••••••• S•••••• S••••••• B•••••• L•• | equity equity | Not disclosed | $7.6M 100c | ||
| I••••••• S••••••• S•• T••••••••• H•••••••• L•• | term loan first lien | Not disclosed | $5.6M 102c | S+675 bp | Oct 1, 2028 |
| B••• H•••••••• I••• L•• Financial S••••••s | term loan first lien | Not disclosed | $4.8M 104c | S+725 bp | Dec 1, 2028 |
| E••• B•••• B•• H••••••••• | term loan first lien | Not disclosed | $3.7M 105c | S+700 bp PIK 3.25% | Feb 1, 2029 |
| H••••••••• H•••••• G••• B••••••• S••••••s | term loan first lien | Not disclosed | $3.4M 108c | S+650 bp | Nov 1, 2029 |
| O••••••••• L•••• S••• B••••••• S••••••s | term loan first lien | Not disclosed | $3.3M 106c | S+575 bp | Dec 1, 2028 |
| O••••••• S••••• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• C• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• B• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• G• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• A• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• D• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• H• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• E• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• I• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| O••••••• S••••• C•••• F• H••••••••• | unstated lien unstated | Not disclosed | $1.3M 100c | ||
| A••••• B•••• O• Financial S••••••s | term loan first lien | Not disclosed | $766,000 102c | S+625 bp | May 1, 2030 |
| I••••••• S••••••• | unstated lien unstated | Not disclosed | $200,000 100c | ||
| I••••••• S••••••• S•• T••••••••• H•••••••• L•• | equity equity | Not disclosed | $200,000 100c | ||
| I••••••• S••••••• S•• T••••••••• H•••••••• L•• | equity equity | Not disclosed | Not disclosed |
Page 1 of 1
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2023 to 2026reported
- Filings listed
- 16reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-335004reported