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N•• M••••••• G••••••• I• B••• L•••••

Business development companymanaged by N•• M••••••• F•••••• A•••••••• L•••••Non-traded· NEW YORK, NY

A non-traded business development company, managed by N•• M••••••• F•••••• A•••••••• L•••••, holding $2.1B across 140 borrowers at Jun 30, 2026.

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

Fair value
$2.1B
Schedule of investments, 10-Q and 10-K
Borrowers
140
Schedule of investments, 10-Q and 10-K
Mark on cost
98.8¢
Schedule of investments, 10-Q and 10-K
First lien
95%
Schedule of investments, 10-Q and 10-K
Schedule of investments (445)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. 3 below 80¢
    $31.7M principal

    3 positions across 3 borrowers marked below 80¢ on cost, $31.7M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
  2. 21 → 26
    loans paying in kind

    Loans paying in kind rose from 21 to 26 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.

    Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
  3. $1.6B → $2.1B
    fair value, 4 quarters

    Its portfolio grew 28% at fair value over the last four quarters.

    Q2 2026 · A fast-growing book is deploying new capital.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 1925531 · file 814-01528Show
Fair value
$2.1B
as of Jun 30, 2026
Principal held
$2.5B
debt pieces, the filer's figure
Cost
$2.1B
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
445
140 borrowers
First lien
95%
99% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
153
33 sponsors financed
Portfolio through time
Fair value by quarter end$2.1B as of Jun 30, 2026
Dec 31, 2022$123M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$2.1B14099c26480 bp
Mar 31, 2026$2.0B13899c21490 bp
Dec 31, 2025$2.1B135100c17496 bp
Sep 30, 2025$1.6B125100c19499 bp
All 15 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$1.6B120100c17511 bp
Mar 31, 2025$1.6B114101c16514 bp
Dec 31, 2024$3.0B115101c27520 bp
Sep 30, 2024$1.2B109101c10532 bp
Jun 30, 2024$974M96101c11555 bp
Mar 31, 2024$696M84102c8588 bp
Dec 31, 2023$1.1B75102c15582 bp
Sep 30, 2023$349M59102c9580 bp
Jun 30, 2023$241M46101c7593 bp
Mar 31, 2023$192M37101c1614 bp
Dec 31, 2022$123M30100c1588 bp
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Dec 31, 2024
705 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
K•••• A••••••••• I•••term loan first lien$1.6M-$47,000Nov 1, 2025
K•••• A••••••••• I•••term loan first lien$1.6M-$47,000Nov 1, 2025
K•••••• I•••term loan first lienNot disclosedNot disclosedS+550 bp
K•••••• I•••term loan first lienNot disclosedNot disclosedS+550 bp
P•••••• H•••••••• L••term loan first lienNot disclosedNot disclosedS+275 bp
PIK 2.75%
Aug 1, 2031
Page 8 of 8Previous
Registration
Fiscal year end
1231reported
Incorporated
DEreported
On the SEC BDC report
2022 to 2026reported
Filings listed
17reported10-Q and 10-K since 2022
Former names
N•• M••••••• G••••••• I• B•• L.L.C.reported
Latest schedule
0001925531-26-000014reported