DFX Intelligence

Private Credit Intelligence

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.

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BDC portfolio

J•••••••• C••••• P••••••• B•• I•••

BDCnon-tradedCIK 1959604file 814-01684NEW YORK, NYmanaged by J•••••••• C••••• M••••••••• L••

Fair value

$1.9B

as of Jun 30, 2026

Principal held

$1.9B

debt pieces, the filer's figure

Cost

$1.9B

99c on cost

Unfunded

$696M

commitments not yet drawn

Positions

484

97 borrowers

First lien

100%

100% debt by fair value

Quarters on the tape

since Dec 31, 2023

Facilities held

149

23 sponsors financed

Portfolio through time

Fair value by quarter end$1.9B as of Jun 30, 2026

Dec 31, 2023$1.4B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$1.9B	97	100c	18	483 bp
Mar 31, 2026	$1.8B	109	100c	15	482 bp
Dec 31, 2025	$2.1B	103	100c	15	485 bp
Sep 30, 2025	$1.3B	93	100c	8	491 bp
Jun 30, 2025	$1.1B	75	100c	5	494 bp
Mar 31, 2025	$3.5B	63	100c	4	496 bp
Dec 31, 2024	$3.3B	53	101c	12	505 bp
Sep 30, 2024	$2.5B	45	100c	4	524 bp
Jun 30, 2024	$1.1B	30	101c	5	551 bp
Mar 31, 2024	$804M	25	101c	0	554 bp
Dec 31, 2023	$1.4B	24	101c	0	570 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

New lender joined a facilityJun 30, 2026
J•••••••• C••••• P••••••• B•• I••• joins A•• P••••••••• L•• revolver (first lien) held by 4 other BDCs
New lender joined a facilityJun 30, 2026
J•••••••• C••••• P••••••• B•• I••• joins F••••••• F•••••••• G••••• L•• revolver (first lien) held by 3 other BDCs
New lender joined a facilityJun 30, 2026
J•••••••• C••••• P••••••• B•• I••• joins C••••• S•••••• P•••••••• L•• delayed draw (first lien) held by 3 other BDCs
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds C••••••••• M••••• L•• term loan after 2026-03-31; 9 BDC(s) still hold it
New lender joined a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• joins C••••••••• M••••• L•• term loan (first lien) held by 13 other BDCs
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds M• B••••• I•• term loan after 2026-03-31; 7 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds D•••••••• D••••• H••••••• L•• term loan after 2026-03-31; 21 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds A• • D• M••••• I•• term loan after 2026-03-31; 5 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds F•••••• S••••••• L•• term loan after 2026-03-31; 20 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds V•••••• P••••••••• L•• term loan after 2026-03-31; 16 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds A•••••• H•••••••• I•• term loan after 2026-03-31; 6 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds D••••• M•••• 2• L•• term loan after 2026-03-31; 20 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds V••••••• R••••• B•••••• L•• term loan after 2026-03-31; 2 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds P••• C••• term loan after 2026-03-31; 11 BDC(s) still hold it
New borrower on a BDC scheduleMar 31, 2026
I••• L•• first appears in a BDC schedule (2 lenders)
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds C••••• S•••••••• A••••••••• I•• term loan after 2026-03-31; 13 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds C••••••• S•••••••• I•• term loan after 2026-03-31; 16 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds B•••••••• P••••••••• I•• term loan after 2026-03-31; 9 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds A• C•••••• A••••••••• C••••••••• term loan after 2026-03-31; 6 BDC(s) still hold it
Lender left a facilityMar 31, 2026
J•••••••• C••••• P••••••• B•• I••• no longer holds S••••••• H••••••• C••••••••• term loan after 2026-03-31; 9 BDC(s) still hold it

Every position change, including routine ones

Largest facilities held, with co-lenders

C•••••••• C•••••• H•••••• C••••••••• first lien revolver
2 BDCs hold it · matures Jun 16, 2033
$0 400c
Z••••••• H••••• I•• L• first lien revolver
2 BDCs hold it
n/a n/a
G••••• B••••••• L•• first lien delayed draw term loan
30 BDCs hold it · matures Feb 23, 2033
n/a n/a
C••••••••• M••••• L•• first lien revolver
12 BDCs hold it · matures Feb 28, 2033 · A•••••••• I••••••••• M••••••••• L••
n/a n/a
B•••• P••••• H•••••••• I•• first lien revolver
2 BDCs hold it · V•••• E••••• P••••••• M••••••••• L••
n/a n/a
P••• C••• first lien revolver
7 BDCs hold it · matures Dec 20, 2032
n/a n/a
E•••••• H•••••••• I•• first lien revolver
9 BDCs hold it · matures Dec 20, 2032 · V•••••• C•••••• L••
n/a n/a
P•••• A••••••••• B••••• I•• first lien delayed draw term loan
2 BDCs hold it · A•••• C•••••• P•••••••• L•
n/a n/a
D••••• M•••• 2• L•• first lien revolver
13 BDCs hold it · matures Aug 26, 2032 · C•••••••• C•••••• G••••• L•••
n/a n/a
K•••• I••••••••• H•••••••• I•• first lien delayed draw term loan
5 BDCs hold it · matures Aug 31, 2032
n/a n/a
V••••••• R••••• B•••••• L•• first lien delayed draw term loan
6 BDCs hold it · matures May 6, 2032
n/a n/a
N•• H••••••• I•• C••• first lien delayed draw term loan
3 BDCs hold it
n/a n/a

Schedule of investments at Jun 30, 2026

484 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
NCNA Ptfl Cmp Invs First Lien Debt Investments Food Products	revolver first lien	$97,000	$97,000 103c	Prime+475 bp	Apr 17, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments IT S••••••s S	revolver first lien	$100,000	$96,000 100c	SOFR+600 bp	Nov 10, 2028
NCNA Ptfl Cmp Invs First Lien Debt Investments Commercial S•	revolver first lien	$84,000	$84,000 104c	SOFR+450 bp	Oct 15, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments IT S••••••s V	revolver first lien	$82,000	$80,000 104c	SOFR+450 bp	Dec 23, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care T	revolver first lien	$83,000	$75,000 96c	SOFR+450 bp	Jul 23, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care T	revolver first lien	$72,000	$72,000 104c	Prime+325 bp	Jun 17, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• Netw	delayed draw term loan first lien	$78,000	$71,000 91c	SOFR+475 bp	Jun 11, 2029
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	revolver first lien	$70,000	$68,000 101c	SOFR+550 bp	Aug 26, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Commercial S•	revolver first lien	$60,000	$59,000 100c	SOFR+525 bp	Jul 15, 2030
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care P	revolver first lien	$104,000	$59,000 59c	SOFR+600 bp	Nov 15, 2029
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• Synd	revolver first lien	$63,000	$57,000 97c	SOFR+500 bp	Sep 2, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments A•••space & D	revolver first lien	$57,000	$56,000 104c	SOFR+450 bp	May 20, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care P	revolver first lien	$55,000	$55,000 108c	Prime+400 bp	Sep 8, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments IT S••••••s 3	revolver first lien	$60,000	$55,000 100c	SOFR+475 bp	May 6, 2033
NCNA Ptfl Cmp Invs First Lien Debt Investments IT S••••••s M	delayed draw term loan first lien	$46,000	$46,000 102c	SOFR+450 bp	Sep 14, 2029
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	revolver first lien	$43,000	$41,000 108c	SOFR+500 bp	Dec 5, 2029
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• L•••	revolver first lien	$39,000	$39,000 103c	SOFR+425 bp	Sep 26, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	revolver first lien	$39,000	$38,000 103c	SOFR+450 bp	Nov 18, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care P	revolver first lien	$32,000	$32,000 110c	SOFR+500 bp	May 29, 2030
NCNA Ptfl Cmp Invs First Lien Debt Investments IT S••••••s V	term loan first lien	$30,000	$30,000 100c	SOFR+450 bp	Dec 23, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• M• B	revolver first lien	$33,000	$29,000 97c	SOFR+525 bp	Jul 1, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	revolver first lien	$20,000	$15,000 100c	SOFR+525 bp	Oct 1, 2029
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• E•••	revolver first lien	$15,000	$10,000 77c	SOFR+450 bp	Dec 20, 2032
Non-Controlled/Non-Affiliated Portfolio Company Investments	unstated lien unstated	n/a	$8,000
F••••••• C•••••••• L••.	unstated lien unstated	n/a	$8,000
NCNA Ptfl Cmp Invs First Lien Debt Investments Trading Compa	revolver first lien	$0	$-0 0c	SOFR+450 bp	Jul 24, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• L•••	revolver first lien	$0	$-0 0c	SOFR+425 bp	Sep 26, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments I•••••••• G••	delayed draw term loan first lien	$0	$-0 0c	SOFR+450 bp	Sep 29, 2028
B••••••••• T••••••••• I••.	revolver first lien	n/a	$0
T••••••• L••	revolver first lien	n/a	$-0
H••••• T••• C••••••• L••	delayed draw term loan first lien	n/a	$0
G••••• B••••••• L••	delayed draw term loan first lien	n/a	$0
I••••••••• I••.	delayed draw term loan first lien	n/a	$0
I•••••••• M•••••••• A••••••••• L••	delayed draw term loan first lien	n/a	$0
S•••• I••••••••• I••• I••.	delayed draw term loan first lien	n/a	$-0
T••••••• L••	delayed draw term loan first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• I•••	revolver first lien	$0	$0 0c	SOFR+450 bp	Jan 12, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Life Sciences	delayed draw term loan first lien	$0	$-0 0c	SOFR+500 bp	Oct 15, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care T	revolver first lien	$0	$0 0c	SOFR+450 bp	Mar 11, 2032
W••••• Group, LLC	delayed draw term loan first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care T	revolver first lien	$0	$-0 0c	SOFR+425 bp	Aug 2, 2032
V••••• M•••• H•••••••• L••	revolver first lien	n/a	$-0
V••••• M•••• H•••••••• L••	delayed draw term loan first lien	n/a	$0
T•••• B• B••••••• L••.	revolver first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments I•••••••• I••	revolver first lien	$0	$0 0c	SOFR+500 bp	Aug 25, 2028
NCNA Ptfl Cmp Invs First Lien Debt Investments Life Sciences	delayed draw term loan first lien	$0	$-0 0c	SOFR+450 bp	Sep 15, 2031
R••• C•••••••• I••••••••• I••• I••.	revolver first lien	n/a	$0
P•• A••• B••••• I••.	revolver first lien	n/a	$-0
I•••••••• M•••••••• A••••••••• L••	revolver first lien	n/a	$0
E•••••• B••••• I••.	delayed draw term loan first lien	n/a	$0
A••• M••••• L••	delayed draw term loan first lien	n/a	$0
F••••••• A••••••••• C•••• I••	revolver first lien	n/a	$0
N•• H••••••• I•• C•••.	revolver first lien	n/a	$0
T••••••• L••	revolver first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care T	delayed draw term loan first lien	$0	$-0 0c	SOFR+425 bp	Aug 2, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Life Sciences	revolver first lien	$0	$-0 0c	SOFR+500 bp	Oct 15, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Food Products	delayed draw term loan first lien	$0	$-0 0c	SOFR+575 bp	Apr 17, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments I•••••••• I••	delayed draw term loan first lien	$0	$0 0c	SOFR+500 bp	Aug 25, 2028
NCNA Ptfl Cmp Invs First Lien Debt Investments Commercial S•	delayed draw term loan first lien	$0	$0 0c	SOFR+450 bp	Apr 12, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	revolver first lien	$0	$0 0c	SOFR+500 bp	Sep 22, 2028
NCNA Ptfl Cmp Invs First Lien Debt Investments Commercial S•	delayed draw term loan first lien	$0	$-0 0c	SOFR+450 bp	Dec 31, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Electrical Eq	delayed draw term loan first lien	$0	$0 0c	SOFR+425 bp	Aug 6, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments Financial S••	delayed draw term loan first lien	$0	$-0 0c	SOFR+525 bp	Mar 24, 2032
P•••• A••••••••• B••••• I••.	delayed draw term loan first lien	n/a	$-0
T•••• L•••• I• S•••	delayed draw term loan first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments Financial S••	revolver first lien	$0	$-0 0c	SOFR+525 bp	Mar 24, 2032
W••••• Group, LLC	revolver first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments S••••••• L•••	delayed draw term loan first lien	$0	$-0 0c	SOFR+425 bp	Sep 27, 2032
U••• M••••••••• L••	revolver first lien	n/a	$-0
S•••• I••••••••• I••• I••.	revolver first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments A•••space & D	revolver first lien	$0	$-0 0c	SOFR+475 bp	Jul 26, 2032
S•••• M••••••••• B••••• I••.	revolver first lien	n/a	$0
G•• T•••• C•••••••••	delayed draw term loan first lien	n/a	$0
L•••• P•••••• I••.	delayed draw term loan first lien	n/a	$-0
N•••••• N••••••••• L••	revolver first lien	n/a	$0
U••• M••••••••• L••	delayed draw term loan first lien	n/a	$-0
W••• S••• A••••••• A••••••••• L••	revolver first lien	n/a	$-0
W•••• I•••••••• A••••••••• L••	delayed draw term loan first lien	n/a	$0
N•••••• N••••••••• L••	delayed draw term loan first lien	n/a	$0
P••••••• G••••• I•• L••	revolver first lien	n/a	$-0
S•••• M••••••••• B••••• I••.	delayed draw term loan first lien	n/a	$0
P•• A••• B••••• I••.	delayed draw term loan first lien	n/a	$-0
H••••• T••• C••••••• L••	revolver first lien	n/a	$0
NCNA Ptfl Cmp Invs First Lien Debt Investments I•••••••• W••	revolver first lien	$0	$-0	SOFR+500 bp	Apr 3, 2030
NCNA Ptfl Cmp Invs First Lien Debt Investments Life Sciences	delayed draw term loan first lien	$0	$-0 0c	SOFR+500 bp	Jun 14, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Media R••• C•	revolver first lien	$0	$-0 0c	SOFR+450 bp	Apr 12, 2032
A•••••• H•••••••• I••	delayed draw term loan first lien	n/a	$0
C••••••••• M••••• I••. Packaging	delayed draw term loan first lien	n/a	$0
A••• M••••• L••	revolver first lien	n/a	$0
I•• G•••• H•••••••• I••.	revolver first lien	n/a	$0
C••••••••• M••••• I••. Packaging	delayed draw term loan first lien	n/a	$0
R••• C•••••••• I••••••••• I••• I••.	delayed draw term loan first lien	n/a	$0
T•••• L•••• I• S•••	revolver first lien	n/a	$-0
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	delayed draw term loan first lien	$0	$-0 0c	SOFR+450 bp	Sep 5, 2031
NCNA Ptfl Cmp Invs First Lien Debt Investments H••••• Care P	delayed draw term loan first lien	$0	$0 0c	SOFR+500 bp	May 31, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Electrical Eq	revolver first lien	$0	$0 0c	SOFR+425 bp	Aug 6, 2031
T•••• B• B••••••• L••.	delayed draw term loan first lien	n/a	$-0
AGS H••••• BCP Holdings, Inc	delayed draw term loan first lien	n/a	$0
NCNA Ptfl Cmp Invs First Lien Debt Investments Media S•••• I	delayed draw term loan first lien	$0	$0 0c	SOFR+450 bp	Apr 12, 2032
NCNA Ptfl Cmp Invs First Lien Debt Investments Professional	revolver first lien	$0	$-0 0c	SOFR+450 bp	Sep 5, 2031

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Registration

Fiscal year end: 1231reported
Incorporated: MDreported
On the SEC BDC report: 2024 to 2026reported
Filings listed: 12reported10-Q and 10-K since 2022
Latest schedule: 0001193125-26-345216reported