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

KKR FS Income Trust

BDCnon-tradedCIK 1930679file 814-01620PHILADELPHIA, PAmanaged by FS/KKR ADVISOR, LLC
Fair value
$3.2B
as of Jun 30, 2026
Principal held
$3.1B
debt pieces, the filer's figure
Cost
$3.2B
100c on cost
Unfunded
$511M
commitments not yet drawn
Positions
673
168 borrowers
First lien
n/a
93% debt by fair value
Quarters on the tape
14
since Dec 31, 2022
Facilities held
177
28 sponsors financed
Portfolio through time
Fair value by quarter end$3.2B as of Jun 30, 2026
Dec 31, 2022$8.3M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$3.2B16899c7488 bp
Mar 31, 2026$3.2B169100c3487 bp
Dec 31, 2025$3.2B169101c3491 bp
Sep 30, 2025$2.5B154101c7504 bp
Jun 30, 2025$1.9B136101c6509 bp
Mar 31, 2025$1.6B118101c17521 bp
Dec 31, 2024$2.7B103101c14528 bp
Sep 30, 2024$1.1B87101c9577 bp
Jun 30, 2024$768M64101c11584 bp
Mar 31, 2024$540M49101c7591 bp
Dec 31, 2023$356M33101c2667 bp
Sep 30, 2023$213M22101c0675 bp
Jun 30, 2023$144M18101c0669 bp
Dec 31, 2022$8.3M14100c0637 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
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Jun 30, 2026
673 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
KSC I Aircraft LP, ABF Equityunstated lien unstatedn/a$59.2M
100c
Apex Service Partners LLCunstated lien unstated$54.5M$54.5M
101c
S+500 bp
Woolpert Incunstated lien unstated$53.0M$51.9M
98c
S+450 bp
Keystone Agency Partners LLCunstated lien unstated$45.4M$45.2M
100c
S+430 bp
Integrity Marketing Group LLC
Insurance
unstated lien unstated$43.5M$43.5M
100c
S+500 bp
Netsmart Technologies Incunstated lien unstated$41.9M$41.3M
99c
S+520 bp
Rockefeller Capital Management LPunstated lien unstated$40.9M$41.3M
101c
S+450 bp
Frontline Road Safety LLCunstated lien unstated$41.2M$40.0M
98c
S+500 bp
Sphera Solutions Incunstated lien unstated$42.4M$40.0M
95c
S+450 bp
Orange Maple 2025-2 DAC, ABF Equity
Banks
unstated lien unstatedn/a$39.5M
99c
Integrated Power Services LLCunstated lien unstated$39.2M$38.4M
98c
S+480 bp
Clarience Technologies LLCunstated lien unstated$37.1M$37.0M
100c
S+480 bp
Lipari Foods LLCunstated lien unstated$36.4M$36.4M
100c
S+550 bp
Flexera Software LLCunstated lien unstated$37.3M$35.9M
96c
S+480 bp
Bonterra LLCunstated lien unstated$35.7M$34.8M
98c
S+500 bp
Newday Group Jersey Ltd
Financial Services
notes lien unstated$24.7M$32.7M
99c
PIK 12.80%
Radwell International LLCunstated lien unstated$29.9M$29.9M
100c
S+480 bp
SureScripts LLCunstated lien unstated$29.3M$29.6M
102c
S+500 bp
Mercer Advisors Incunstated lien unstated$29.3M$29.2M
100c
S+450 bp
PSKW LLC (dba ConnectiveRx)
Health Care Equipment & Services
unstated lien unstated$27.8M$27.8M
100c
S+550 bp
WebPros Holding Sarlunstated lien unstated$28.7M$27.6M
98c
S+500 bp
Nottingdale Receivables Limited (FKA TalkTalk Telecom Group Ltd)revolver lien unstated$20.5M$27.3M
100c
S+700 bp
Higginbotham Insurance Agency Incunstated lien unstated$27.0M$27.0M
100c
S+450 bp
BGB Group LLCunstated lien unstated$26.7M$26.8M
101c
S+530 bp
Harley-Davidson Financial Services Inc, ABF Equityunstated lien unstatedn/a$25.4M
101c
Milano Acquisition Corp
Health Care Equipment & Services
unstated lien unstated$25.8M$25.4M
101c
S+400 bp
Horizon CTS Buyer LLCunstated lien unstated$24.8M$24.8M
100c
S+480 bp
MB2 Dental Solutions LLCunstated lien unstated$24.2M$24.2M
101c
S+550 bp
Zeus Industrial Products Incunstated lien unstated$25.4M$24.1M
96c
S+540 bp
Med-Metrixunstated lien unstated$24.3M$23.7M
98c
S+450 bp
VetCor Professional Practices LLCunstated lien unstated$24.4M$23.7M
97c
S+580 bp
Wedgewood Weddingsunstated lien unstated$23.3M$23.3M
100c
S+430 bp
CSafe Globalunstated lien unstated$23.3M$23.3M
100c
S+580 bp
Jeppesen Holdings LLCunstated lien unstated$23.5M$23.2M
99c
S+480 bp
OEConnection LLCunstated lien unstated$23.6M$23.1M
98c
S+450 bp
J S Held LLCunstated lien unstated$22.7M$22.5M
99c
S+480 bp
Vituunstated lien unstated$21.9M$22.1M
101c
S+450 bp
Income Contingent Student Loans 2 2007-2009 PLC, ABS
Financial Services
unstated lien unstated$14.6M$21.3M
117c
8.00%
Com Laude Group Ltdunstated lien unstated$21.7M$21.2M
98c
S+500 bp
Service Express Incunstated lien unstated$21.1M$21.1M
100c
S+430 bp
Pike Corpunstated lien unstated$20.9M$20.6M
99c
S+430 bp
Service Logic LLCunstated lien unstated$19.9M$19.8M
99c
S+480 bp
Precisely Software Inc
Software & Services
unstated lien unstated$25.7M$19.7M
79c
S+400 bp
Veriforce LLCunstated lien unstated$20.1M$19.7M
98c
S+450 bp
Vietjet Aviation JSC
Transportation
term loan lien unstated$18.9M$18.8M
100c
9.40%
PCI Pharma Servicesunstated lien unstated$19.1M$18.8M
99c
S+500 bp
Spins LLCunstated lien unstated$18.1M$17.8M
98c
S+480 bp
Legends Hospitality LLCunstated lien unstated$17.6M$17.5M
100c
S+550 bp
Homrich & Berg Incunstated lien unstated$17.1M$17.1M
100c
S+480 bp
Santander Consumer Bank AS, ABF Equity
Banks
unstated lien unstatedn/a$16.9M
101c
Conservice LLCunstated lien unstated$17.2M$16.8M
98c
S+450 bp
GE Vernova Electrification Software LLCunstated lien unstated$17.2M$16.8M
98c
S+480 bp
USIC Holdings Incunstated lien unstated$16.7M$16.6M
100c
S+550 bp
BDO USA PAunstated lien unstated$16.6M$16.5M
101c
S+500 bp
Shaw Development LLCunstated lien unstated$16.5M$16.5M
101c
S+600 bp
PayPal Danube 2, ABF Equityunstated lien unstatedn/a$16.5M
102c
VIB Trade Receivables DAC (FKA Vibrantz Technologies Inc)unstated lien unstated$16.3M$16.3M
101c
4.80%
Resa Power LLCunstated lien unstated$16.1M$16.2M
101c
S+450 bp
Arcfield Acquisition Corpunstated lien unstated$16.0M$16.0M
100c
S+500 bp
Revere Superior Holdings Incunstated lien unstated$16.4M$15.9M
98c
S+500 bp
Spotless Brands LLCunstated lien unstated$15.9M$15.9M
101c
S+580 bp
Dental365 LLCunstated lien unstated$15.7M$15.7M
100c
S+500 bp
NeoGov Newt Holdco Incunstated lien unstated$16.1M$15.7M
98c
S+430 bp
NEFCO Corpunstated lien unstated$15.5M$15.5M
100c
S+450 bp
Bond Aviation Holdings LLC, Term Loan | Transportation 1
Transportation
term loan lien unstated$15.4M$15.4M
100c
9.00%
Sotheby's, Revolver | Consumer Services 2
Consumer Services
revolver lien unstated$15.3M$15.3M
100c
4.80%
Clearwater Analytics LLCunstated lien unstated$15.3M$15.2M
100c
S+450 bp
West Star Aviation Incunstated lien unstated$14.7M$14.7M
100c
S+450 bp
NAVEX Global Incunstated lien unstated$15.1M$14.6M
98c
S+500 bp
Cambrex Corpunstated lien unstated$14.4M$14.5M
101c
S+480 bp
Horizon CTS Buyer LLCunstated lien unstated$14.4M$14.3M
100c
S+480 bp
Service Express Incunstated lien unstated$14.3M$14.3M
100c
S+430 bp
Unison Trust 2025-1, ABS
Real Estate Management & Development
unstated lien unstated$14.9M$14.1M
102c
6.00%
DuBois Chemicals Incunstated lien unstated$14.3M$14.1M
99c
S+500 bp
Model N Incunstated lien unstated$14.2M$14.0M
99c
S+480 bp
ClubCorp Club Operations Incunstated lien unstated$13.6M$13.6M
100c
S+530 bp
PCI Pharma Servicesunstated lien unstated$13.5M$13.3M
99c
S+500 bp
Wood Group Receivables LLC (FKA John Wood Group PLC)revolver lien unstated$13.2M$13.3M
101c
5.50%
Rialto Capital Management LLCunstated lien unstated$13.2M$13.3M
101c
S+500 bp
Misys Ltd
Software & Services
unstated lien unstated$14.0M$13.0M
93c
S+400 bp
Highgate Hotels Incunstated lien unstated$12.4M$12.4M
101c
S+550 bp
Flexera Software LLCunstated lien unstated$11.2M$12.4M
94c
S+480 bp
CLEAResult Consulting Incunstated lien unstated$12.3M$12.3M
101c
S+480 bp
Wood Group Receivables LLC (FKA John Wood Group PLC)revolver lien unstated$12.2M$12.2M
101c
5.50%
BCA Marketplace Ltdunstated lien unstated$9.2M$12.2M
104c
S+630 bp
Lazer Logistics Incunstated lien unstated$12.2M$12.2M
101c
S+480 bp
Personify Health Inc
Software & Services
unstated lien unstated$13.3M$12.1M
91c
S+580 bp
Setna SPV Iterm loan lien unstated$12.2M$12.1M
99c
5.90%
Trackunit ApSunstated lien unstated$12.4M$11.9M
97c
S+500 bp
Mercer Advisors Incunstated lien unstated$11.4M$11.3M
99c
S+450 bp
Schellman Incunstated lien unstated$11.5M$11.3M
98c
S+480 bp
Community Brands Incunstated lien unstated$11.8M$11.2M
95c
S+530 bp
SCRIPPS SPV LLC (FKA EW Scripps Co/The)revolver lien unstated$10.9M$11.0M
101c
6.30%
A-Lign Assurance LLCunstated lien unstated$11.2M$10.8M
97c
S+450 bp
DOXA Insurance Holdings LLCunstated lien unstated$11.0M$10.7M
98c
S+480 bp
Wealth Enhancement Group LLCunstated lien unstated$10.4M$10.4M
100c
S+430 bp
Fortna AR LLC (FKA Fortna Group Inc)revolver lien unstated$10.3M$10.3M
100c
S+480 bp
MAI Capital Management LLCunstated lien unstated$10.3M$10.3M
100c
S+480 bp
Cast & Crew LLCrevolver lien unstated$10.2M$10.2M
100c
S+480 bp
Lipari Foods LLCunstated lien unstated$10.2M$10.2M
100c
S+550 bp
Page 1 of 7Next
Registration
Fiscal year end
1231reported
Incorporated
DEreported
On the SEC BDC report
2024 to 2024reported
Filings listed
13reported10-Q and 10-K since 2022
Latest schedule
0001628280-26-056131reported