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2•••••• B••• I•••
A non-traded business development company, managed by 2•••••• D••••• L••••••, holding $1.8B across 55 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
- $1.8B
- Borrowers
- 55
- Mark on cost
- 99.3¢
- 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
- $981M → $1.8Bfair value, 4 quarters
Its portfolio grew 80% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1950976 · file 814-01665ShowHide
Fair value
$1.8B
as of Jun 30, 2026
Principal held
Not disclosed
debt pieces, the filer's figure
Cost
$1.8B
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
144
55 borrowers
First lien
97%
97% debt by fair value
Quarters on the tape
11
since Dec 31, 2023
Facilities held
127
14 sponsors financed
Portfolio through time
Fair value by quarter end$1.8B as of Jun 30, 2026
Dec 31, 2023$158M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $1.8B | 55 | 99c | 5 | 540 bp |
| Mar 31, 2026 | $1.6B | 52 | 99c | 4 | 532 bp |
| Dec 31, 2025 | $1.6B | 46 | 100c | 3 | 535 bp |
| Sep 30, 2025 | $1.2B | 41 | 100c | 3 | 546 bp |
All 11 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $981M | 34 | 100c | 2 | 558 bp |
| Mar 31, 2025 | $1.8B | 33 | 100c | 3 | 566 bp |
| Dec 31, 2024 | $1.6B | 26 | 100c | 3 | 575 bp |
| Sep 30, 2024 | $494M | 19 | 100c | 2 | 598 bp |
| Jun 30, 2024 | $218M | 10 | 100c | 2 | 629 bp |
| Mar 31, 2024 | $115M | 5 | 100c | 0 | 660 bp |
| Dec 31, 2023 | $158M | 2 | 100c | 0 | 695 bp |
Sponsors financed
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
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Full timeline · 20 eventsShow fewer
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
Largest facilities held, with co-lenders
- A••••••• B••••• I•• first lien revolver8 BDCs hold it · matures Dec 3, 2032Not disclosed 107c
- A••••••• B•••••••• L•• first lien revolver2 BDCs hold it · matures May 8, 2030Not disclosed 107c
- L• B•••••••• B••••• L•• first lien revolver2 BDCs hold it · matures May 30, 2033Not disclosed 103c
- P•••••••• H•••••• L•• first lien delayed draw term loan1 BDC hold it · matures May 31, 2030Not disclosed 208c
- P•••••••• B••••• I•• first lien revolver3 BDCs hold it · matures Dec 12, 2032 · possible sponsor A•••••••• C•••••• P•••••••Not disclosed 104c
- C•••••• P••••• I•• first lien term loan7 BDCs hold it · matures May 18, 2033Not disclosed 100c
- P••• T•••• H••••••• L•• first lien term loan2 BDCs hold it · matures Sep 27, 2030Not disclosed 96c
- A•• B••••• I•• first lien revolver2 BDCs hold it · matures Oct 17, 2031Not disclosed n/a
- A•••• A••••••• G••••• L•• first lien delayed draw term loan12 BDCs hold it · matures Aug 1, 2031Not disclosed 92c
- U•• B•••• L•• first lien term loan7 BDCs hold it · matures Dec 6, 2032 · possible sponsor B•••••••• P••••••• L••Not disclosed 100c
- J••••••••• P•••••• I•• first lien revolver10 BDCs hold it · matures Jan 31, 2033 · possible sponsor F•••••••• P•••••••Not disclosed 106c
- G•••••••• P•••••• L•• first lien term loan4 BDCs hold it · matures Mar 31, 2032Not disclosed 100c
Schedule of investments at Dec 31, 2025
155 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A•••••• T••••••••• H••••••• C•••• | term loan first lien | Not disclosed | $67.4M 101c | SOFR+650 bp | Nov 5, 2029 |
| R• B••••• I••• | term loan first lien | Not disclosed | $58.8M 99c | SOFR+650 bp | Jan 17, 2031 |
| L••••••••• I••• | term loan first lien | Not disclosed | $52.6M 98c | SOFR+750 bp | Jul 2, 2029 |
| R•• S•••••••• I••• | term loan first lien | Not disclosed | $50.3M 100c | SOFR+475 bp | Sep 25, 2032 |
| D•••• B••••• I••• | term loan first lien | Not disclosed | $49.4M 100c | SOFR+575 bp | Jul 10, 2030 |
| Z••• • C•••••• S••••••• C••••••••• L•• | term loan first lien | Not disclosed | $46.0M 100c | SOFR+650 bp | Sep 13, 2030 |
| Z••• • C•••••• S••••••• C••••••••• L•• | term loan first lien | Not disclosed | $46.0M 100c | SOFR+650 bp | Sep 13, 2030 |
| P••• B••••• L•• | term loan first lien | Not disclosed | $43.7M 100c | SOFR+475 bp | Aug 26, 2032 |
| P••• B••••• L•• | term loan first lien | Not disclosed | $43.7M 100c | SOFR+475 bp | Aug 26, 2032 |
| G•••• R•••• A•••••• M••••••••• I••• | term loan first lien | Not disclosed | $43.7M 100c | SOFR+500 bp | Mar 10, 2031 |
| F••• W•••• I••••••••• L•• | term loan first lien | Not disclosed | $36.5M 100c | SOFR+575 bp | Feb 20, 2030 |
| G•••••••• I•• | term loan first lien | Not disclosed | $36.3M 99c | SOFR+575 bp | Jul 30, 2027 |
| A•• B••••• I••• S••••••••• & S••••••••• E•••••••• | term loan first lien | Not disclosed | $36.0M 101c | SOFR+500 bp | Oct 17, 2031 |
| A•• B••••• I••• | term loan first lien | Not disclosed | $36.0M 101c | SOFR+500 bp | Oct 17, 2031 |
| C••••• S•••••••• A••••••••• I•• | term loan first lien | Not disclosed | $34.4M 101c | SOFR+500 bp | Aug 7, 2031 |
| C••• P••••••••• L•• | term loan first lien | Not disclosed | $33.0M 102c | SOFR+600 bp | Mar 1, 2030 |
| C•••• S•••••••• I••• | term loan first lien | Not disclosed | $32.8M 100c | SOFR+575 bp | Jul 18, 2030 |
| S••••••• S••••••• B••••• I••• | term loan first lien | Not disclosed | $30.2M 100c | SOFR+500 bp | Sep 30, 2031 |
| C••••••• B••••• I••• | term loan first lien | Not disclosed | $29.7M 100c | SOFR+500 bp | Nov 3, 2029 |
| S••••••••• I•• | term loan first lien | Not disclosed | $29.6M 100c | SOFR+625 bp | Oct 16, 2031 |
| S••••••••• I•• | term loan first lien | Not disclosed | $29.6M 100c | SOFR+625 bp | Oct 16, 2031 |
| H••••••• S••••••• S•••••••• L•• | term loan first lien | Not disclosed | $28.8M 101c | SOFR+555 bp PIK 2.93% | Jun 16, 2031 |
| C• ••• G••••• L•• | term loan first lien | Not disclosed | $28.2M 100c | SOFR+550 bp | Mar 27, 2030 |
| S•••••• P•••••• L•• | term loan first lien | Not disclosed | $27.2M 98c | SOFR+650 bp | May 13, 2030 |
| S•••••• L•• | term loan first lien | Not disclosed | $25.7M 100c | SOFR+500 bp | Sep 2, 2032 |
| X••••• C••••••••• | term loan first lien | Not disclosed | $25.2M 100c | SOFR+625 bp | Jul 30, 2027 |
| X••••• C••••••••• | term loan first lien | Not disclosed | $25.2M 100c | SOFR+625 bp | Jul 30, 2027 |
| P••• T•••• H••••••• L•• | term loan first lien | Not disclosed | $24.7M 100c | SOFR+775 bp | Sep 27, 2030 |
| A••••••• B•••••••• L•• | term loan first lien | Not disclosed | $24.1M 102c | SOFR+675 bp PIK 3.38% | May 8, 2030 |
| I•••••• P•••••• I••• | term loan first lien | Not disclosed | $24.0M 101c | SOFR+450 bp | Jan 25, 2030 |
| P•••••• A••••••• B•••• L•• | term loan first lien | Not disclosed | $23.8M 100c | SOFR+500 bp | Aug 27, 2031 |
| P•••••••• B••••• I••• | term loan first lien | Not disclosed | $23.3M 100c | SOFR+450 bp | Dec 12, 2032 |
| P•••• C•••••• I••• | term loan first lien | Not disclosed | $23.1M 100c | SOFR+475 bp | Aug 6, 2031 |
| P•••• C•••••• I••• | term loan first lien | Not disclosed | $23.1M 100c | SOFR+475 bp | Aug 6, 2031 |
| C• B••••• I•• | term loan first lien | Not disclosed | $23.0M 100c | SOFR+525 bp | Jul 1, 2031 |
| A•••• S•• N•••• L•• | term loan first lien | Not disclosed | $22.0M 100c | SOFR+500 bp | Dec 11, 2030 |
| G•••• D••• I••••••••• H•••••• I• L•• S••••••• | preferred equity equity | Not disclosed | $20.8M 100c | Jul 21, 2025 | |
| U••••••• I••••••••• H•••••• L•• | term loan first lien | Not disclosed | $20.3M 100c | SOFR+653 bp | Jan 10, 2030 |
| A••••••• B••••• I••• | term loan first lien | Not disclosed | $20.2M 100c | SOFR+550 bp | Dec 3, 2032 |
| A••••••• B••••• I••• S••••••• | term loan first lien | Not disclosed | $20.2M 100c | SOFR+550 bp | Dec 3, 2032 |
| P••• P•••••• I••• | term loan first lien | Not disclosed | $20.2M 100c | SOFR+475 bp | Dec 9, 2032 |
| R••••• B••••• L•• | term loan first lien | Not disclosed | $19.9M 100c | SOFR+500 bp | Dec 17, 2031 |
| R••••• B•••• L•• | term loan first lien | Not disclosed | $19.9M 100c | SOFR+500 bp | Dec 17, 2031 |
| U••••••• I••••••••• H•••••• L•• | term loan first lien | Not disclosed | $18.4M 100c | SOFR+385 bp | Jan 10, 2030 |
| U•••••••• T••••••••• H•••••••• L•• | term loan first lien | Not disclosed | $17.1M 100c | SOFR+450 bp | Mar 12, 2032 |
| U•••••••• T••••••••• H•••••••• L•• H••••• C••• T••••••••• | term loan first lien | Not disclosed | $17.1M 100c | SOFR+450 bp | Mar 12, 2032 |
| T•••••• B•••• I•• | term loan first lien | Not disclosed | $16.2M 100c | SOFR+475 bp | Oct 17, 2030 |
| T•••••• B••••• I••• | term loan first lien | Not disclosed | $16.2M 100c | SOFR+475 bp | Oct 17, 2030 |
| U•• B•••• L•• | term loan first lien | Not disclosed | $13.3M 100c | SOFR+450 bp | Dec 6, 2032 |
| A•••••• I••••••••• H•••••••• I••• | delayed draw term loan first lien | Not disclosed | $12.9M 101c | SOFR+600 bp | Mar 19, 2031 |
| G•••••••• P•••••• L•• | term loan first lien | Not disclosed | $12.7M 100c | SOFR+475 bp | Mar 31, 2032 |
| F• D•• B•••• I•• | term loan first lien | Not disclosed | $12.0M 100c | SOFR+500 bp | Oct 11, 2030 |
| C••• P••••••••• L•• | revolver first lien | Not disclosed | $12.0M 102c | SOFR+600 bp | Mar 1, 2030 |
| A••••• P•••••• S••••••• L•• | delayed draw term loan first lien | Not disclosed | $9.9M 100c | SOFR+450 bp | Aug 11, 2031 |
| B••••• P••••••• S••••••• L•• | term loan first lien | Not disclosed | $8.5M 100c | SOFR+625 bp PIK 3.38% | May 20, 2031 |
| A•••• S•• N•••• L•• | delayed draw term loan first lien | Not disclosed | $7.2M 100c | SOFR+500 bp | Dec 11, 2030 |
| C• ••• G••••• L•• | delayed draw term loan first lien | Not disclosed | $6.9M 99c | SOFR+550 bp | Mar 27, 2030 |
| F• D•• B•••• I•• | delayed draw term loan first lien | Not disclosed | $6.7M 100c | SOFR+500 bp | Oct 11, 2030 |
| G••••••• R••••••••• P••••••• B•••• | delayed draw term loan first lien | Not disclosed | $6.5M 100c | SOFR+500 bp | Nov 3, 2031 |
| A••••• P•••••• S••••••• L•• | term loan first lien | Not disclosed | $5.9M 100c | SOFR+450 bp | Aug 11, 2031 |
| A•••••• I••••••••• H•••••••• I••• | term loan first lien | Not disclosed | $5.7M 101c | SOFR+600 bp | Mar 19, 2031 |
| F• D•• B•••• I•• | term loan first lien | Not disclosed | $5.5M 100c | SOFR+475 bp | Oct 11, 2030 |
| G••••••• R••••••••• P••••••• B•••• | term loan first lien | Not disclosed | $4.7M 100c | SOFR+500 bp | Nov 3, 2031 |
| C••••••• B••••• I••• | term loan first lien | Not disclosed | $4.2M 100c | SOFR+500 bp | Nov 3, 2029 |
| R• B••••• I••• | revolver first lien | Not disclosed | $4.1M 99c | SOFR+650 bp | Jan 17, 2031 |
| C••• P••••••••• L•• | delayed draw term loan first lien | Not disclosed | $3.7M 100c | SOFR+600 bp | Mar 1, 2030 |
| P••• T•••• H••••••• L•• | delayed draw term loan first lien | Not disclosed | $3.5M 97c | SOFR+775 bp | Sep 27, 2030 |
| P••• T•••• H••••••• L•• | delayed draw term loan first lien | Not disclosed | $3.5M 97c | SOFR+775 bp | Sep 27, 2030 |
| P•••• C•••••• I••• H•••••, R••••••••• & L•••••• | equity equity | Not disclosed | $2.6M 100c | Aug 5, 2025 | |
| Z••• • C•••••• S••••••• C••••••••• L•• | delayed draw term loan first lien | Not disclosed | $2.1M 98c | SOFR+650 bp | Sep 13, 2030 |
| Z••• • C•••••• S••••••• C••••••••• L•• | delayed draw term loan first lien | Not disclosed | $2.1M 98c | SOFR+650 bp | Sep 13, 2030 |
| P••• T•••• H••••••• L•• | revolver first lien | Not disclosed | $2.1M 99c | SOFR+675 bp | Sep 27, 2030 |
| C••• P••••••••• L•• | delayed draw term loan first lien | Not disclosed | $2.0M 97c | SOFR+550 bp | Mar 1, 2030 |
| C• ••• G••••• L•• | revolver first lien | Not disclosed | $1.7M 100c | SOFR+550 bp | Mar 27, 2030 |
| C••••••• B••••• I••• | term loan first lien | Not disclosed | $1.7M 100c | SOFR+500 bp | Nov 3, 2029 |
| C•••• S•••••••• I••• | delayed draw term loan first lien | Not disclosed | $1.6M 96c | SOFR+575 bp | Jul 18, 2030 |
| C••• P••••••••• L•• | term loan first lien | Not disclosed | $1.6M 99c | SOFR+550 bp | Mar 1, 2030 |
| C••••• S•••••••• A••••••••• I•• | term loan first lien | Not disclosed | $1.2M 101c | SOFR+500 bp | Aug 7, 2031 |
| A••••• P•••••• S••••••• L•• | delayed draw term loan first lien | Not disclosed | $1.2M 99c | SOFR+450 bp | Aug 11, 2031 |
| G••••••• R••••••••• P••••••• B•••• | revolver first lien | Not disclosed | $970,000 100c | SOFR+500 bp | Nov 3, 2031 |
| P•••••••• B••••• I••• | revolver first lien | Not disclosed | $759,000 100c | SOFR+450 bp | Dec 12, 2032 |
| T•••••• B•••• I•• | revolver first lien | Not disclosed | $732,000 100c | SOFR+475 bp | Oct 17, 2030 |
| T•••••• B••••• I••• | revolver first lien | Not disclosed | $732,000 100c | SOFR+475 bp | Oct 17, 2030 |
| F• D•• B••••• I•• H••••• C••• E•••••••• & S••••••• | equity equity | Not disclosed | $652,000 107c | Oct 11, 2024 | |
| A••••••• B•••••••• L•• | revolver first lien | Not disclosed | $600,000 110c | SOFR+625 bp | May 8, 2030 |
| P••• B••••• L•• | revolver first lien | Not disclosed | $307,000 99c | SOFR+475 bp | Aug 26, 2032 |
| P••• B••••• L•• | revolver first lien | Not disclosed | $307,000 99c | SOFR+475 bp | Aug 26, 2032 |
| T•••••• B••••• I••• | delayed draw term loan first lien | Not disclosed | $297,000 88c | SOFR+475 bp | Oct 17, 2030 |
| A•••• S•• N•••• L•• | delayed draw term loan first lien | Not disclosed | $239,000 82c | SOFR+500 bp | Dec 11, 2030 |
| C• B••••• I•• | delayed draw term loan first lien | Not disclosed | $233,000 102c | SOFR+525 bp | Jul 1, 2031 |
| C• B••••• I•• | revolver first lien | Not disclosed | $138,000 107c | SOFR+525 bp | Jul 1, 2031 |
| E•••••••• P••••• H•••••••• L•••• L•• IT Services | equity equity | Not disclosed | $0 | ||
| X••••• C••••••••• | revolver first lien | Not disclosed | $0 0c | SOFR+625 bp | Jul 30, 2027 |
| A••••••• B•••••••• L•• | delayed draw term loan first lien | Not disclosed | $0 0c | SOFR+625 bp | May 8, 2030 |
| X••••• C••••••••• P••••••••• Services | revolver first lien | Not disclosed | $0 0c | SOFR+625 bp | Jul 30, 2027 |
| C••••• S•••••••• A••••••••• I•• | delayed draw term loan first lien | Not disclosed | $0 0c | SOFR+500 bp | Aug 7, 2031 |
| C••••• S•••••••• A••••••••• I•• | revolver first lien | Not disclosed | $0 0c | SOFR+500 bp | Aug 7, 2031 |
| C••••• S•••••••• A••••••••• I•• | delayed draw term loan first lien | Not disclosed | $0 0c | SOFR+500 bp | Aug 7, 2031 |
| C••••••• B••••• I••• P••••••••• | revolver first lien | Not disclosed | -$2,000 100c | SOFR+500 bp | Nov 3, 2028 |
| C••••••• B••••• I••• D••••••••• C••••••• Services | revolver first lien | Not disclosed | -$2,000 100c | SOFR+500 bp | Nov 3, 2028 |
Page 1 of 2Next
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2025 to 2026reported
- Filings listed
- 11reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-340235reported