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N•• M••••••• G••••••• I• I••••• F•••• 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 $495M across 122 borrowers at Jun 30, 2026.

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

As of 2026-06-30 · the latest schedule of investments read for this BDC

Fair value: $495M
Borrowers: 122
Mark on cost: 98.2¢
First lien: 95%

Schedule of investments (384)Quarter by quarter Sponsors

As of 2026-06-30 · the latest schedule of investments read for this BDC

What matters now

6 below 80¢
$15.7M principal
6 positions across 4 borrowers marked below 80¢ on cost, $15.7M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026
13 → 19
loans paying in kind
Loans paying in kind rose from 13 to 19 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 →
$409M → $495M
fair value, 4 quarters
Its portfolio grew 21% 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 1976719 · file 814-01639Show

Fair value

$495M

as of Jun 30, 2026

Principal held

$572M

debt pieces, the filer's figure

Cost

$504M

98c on cost, debt pieces

Unfunded

Not disclosed

commitments not yet drawn

Positions

384

122 borrowers

First lien

95%

99% debt by fair value

Quarters on the tape

since Sep 30, 2023

Facilities held

128

30 sponsors financed

Portfolio through time

Fair value by quarter end$495M as of Jun 30, 2026

Jun 30, 2023$5.3M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$495M	122	98c	19	479 bp
Mar 31, 2026	$488M	121	98c	13	489 bp
Dec 31, 2025	$965M	119	100c	20	493 bp
Sep 30, 2025	$432M	114	100c	13	497 bp

All 13 quarters

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2025	$409M	108	100c	11	507 bp
Mar 31, 2025	$390M	100	100c	10	509 bp
Dec 31, 2024	$755M	101	101c	18	517 bp
Sep 30, 2024	$299M	90	101c	6	524 bp
Jun 30, 2024	$240M	78	101c	4	558 bp
Mar 31, 2024	$131M	60	101c	4	577 bp
Dec 31, 2023	$86.6M	45	101c	5	561 bp
Sep 30, 2023	$24.7M	19	102c	2	568 bp
Jun 30, 2023	$5.3M	4	101c	1	467 bp

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

What changed

New lender joined a facilityJun 30, 2026
••• Locked
New lender joined a facilityJun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked

Full timeline · 20 events

PIK interest appearsJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked
Lender left a facilityMar 31, 2026
••• Locked
Lender left a facilityMar 31, 2026
••• Locked
Lender left a facilityMar 31, 2026
••• Locked
New lender joined a facilityMar 31, 2026
••• Locked
New lender joined a facilityMar 31, 2026
••• Locked
New lender joined a facilityMar 31, 2026
••• Locked
New lender joined a facilityMar 31, 2026
••• Locked
New lender joined a facilityMar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked

Every position change, including routine ones

Largest facilities held, with co-lenders

B••••••••• I•• first lien term loan
13 BDCs hold it · matures Dec 3, 2032
$10.3M 100c
O••••••••• L•• first lien term loan
25 BDCs hold it · matures Dec 23, 2032 · possible sponsor F•••••••• P•••••••
$10.2M 99c
A•• T••••• L•• first lien term loan
13 BDCs hold it · matures Dec 31, 2027 · possible sponsor B•••••• P•••• C•••••• A•••••••• L••
$10.1M 100c
A••••••• I•• first lien term loan
21 BDCs hold it · matures Jun 21, 2029
$10.0M 98c
M••• B•••• L•• first lien term loan
8 BDCs hold it · matures Dec 22, 2031
$10.0M 100c
N• T••••• L•• first lien term loan
10 BDCs hold it · matures Sep 2, 2031
$9.9M 99c
W••••• E••••••••• G••••• L•• first lien term loan
15 BDCs hold it · matures Oct 2, 2028 · possible sponsor L•••••••• C•••••• L••
$9.9M 100c
V•••• B••••• I•• first lien term loan
12 BDCs hold it · matures Nov 1, 2031
$9.8M 98c
C•••• H•••••••• L•• first lien term loan
27 BDCs hold it · matures Aug 2, 2030
$9.8M 99c
V••••• M•••• H•••••••• L•• first lien term loan
25 BDCs hold it · matures Nov 3, 2032
$9.6M 100c
R••••• B••••• L•• first lien term loan
14 BDCs hold it · matures Dec 17, 2031
$9.4M 98c
D••••••••• A••••••••• I•• first lien term loan
10 BDCs hold it · matures Sep 1, 2032
$9.4M 95c

Schedule of investments at Jun 30, 2026

384 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
G• A••••••••• I•••	term loan first lien	$0	$0	S+525 bp
F••••••• A••••••••• C•••• I•••	term loan first lien	$427,000	$0 0c
G••••• B••••••• L••	term loan first lien	$52,000	$0	S+450 bp
A•• T••••• L••	term loan first lien	$2.3M	$0
R•••••••• V••••••••• P•••••••• I•••	term loan first lien	$353,000	-$1,000	S+525 bp
C••••••• I••••••••• I•• L••	term loan first lien	$113,000	-$1,000 100c		Aug 1, 2032
F•••••••• O••••••••• L••	term loan first lien	$233,000	-$1,000 100c	S+525 bp
C••••••• I••••••••• I•• L••	term loan first lien	$195,000	-$1,000
B•••••• H••••••• L••	term loan first lien	$313,000	-$1,000 50c	S+425 bp
L•• V•••••• H••••••• I•••	term loan first lien	$320,000	-$1,000 100c	S+450 bp
R•••••••• V••••••••• P•••••••• I•••	term loan first lien	$353,000	-$1,000	S+525 bp
P•••••••• C••••••••• M••••• I•••	term loan first lien	$228,000	-$1,000 100c	S+500 bp
B•••••••• I•••	term loan first lien	$195,000	-$1,000	S+500 bp
R•••••••• V••••••••• P•••••••• I•••	term loan first lien	$353,000	-$1,000	S+525 bp	Nov 1, 2027
R•••••••• V••••••••• P•••••••• I•••	term loan first lien	$353,000	-$1,000	S+525 bp
T•• U•••••• G•••• M••••• L••	term loan first lien	$180,000	-$1,000 100c	S+450 bp
A••••••• I•••	term loan first lien	$47,000	-$1,000	S+450 bp
D•••••••• I•••	term loan first lien	$177,000	-$1,000 100c	S+575 bp	Jul 1, 2030
Z••• C•••••• S•••••••• I•••	term loan first lien	$67,000	-$1,000 100c
L••••••••• B••••• I•••	term loan first lien	$382,000	-$2,000 100c	S+425 bp
D•••• A••••••••• C•••••••••	term loan first lien	$138,000	-$2,000	S+475 bp
T•• U•••••• G•••• M••••• L••	term loan first lien	$480,000	-$2,000	S+450 bp
K••• A••••••••• I•••	term loan first lien	$246,000	-$2,000 200c	S+450 bp
J••••••••• P•••••• I•••	term loan first lien	$374,000	-$2,000	S+475 bp
S••••••• H•••••••• L••	term loan first lien	$726,000	-$2,000 200c	S+450 bp
K••• A••••••••• I•••	term loan first lien	$328,000	-$2,000 100c	S+450 bp
A•• G•••• H•••••••• I•••	term loan first lien	$503,000	-$2,000 100c
A•••• A• B•••• P•• L••	term loan first lien	$99,000	-$2,000	S+450 bp
L•• V•••••• H••••••• I•••	term loan first lien	$432,000	-$2,000	S+450 bp
A••••••• B•••••••• L••	term loan first lien	$307,000	-$2,000 67c	S+600 bp
J••••••••• P•••••• I•••	term loan first lien	$374,000	-$2,000 100c	S+475 bp	Jan 1, 2033
A•••••••• H•••••••• I•••	term loan first lien	$742,000	-$2,000	S+450 bp	Jul 1, 2032
S••••• B••••••• H••••••• L••	term loan first lien	$251,000	-$2,000
P•••••• C•••••••••	term loan first lien	$217,000	-$3,000 300c	S+450 bp
M•• S••••••• L••	term loan first lien	$171,000	-$3,000	S+475 bp
F••••• I•••	term loan first lien	$575,000	-$3,000 100c	S+475 bp
B••••••••• I•••	term loan first lien	$1.3M	-$3,000	S+450 bp
M••••••• B•••• I•••	term loan first lien	$303,000	-$3,000	S+475 bp	Dec 1, 2027
P•••••••• C••••••••• M••••• I•••	term loan first lien	$679,000	-$3,000 100c	S+500 bp
M••••••• B•••• I•••	term loan first lien	$242,000	-$3,000 300c	S+475 bp
W••••• G•••• L••	term loan first lien	$536,000	-$3,000	S+475 bp
W••••• G•••• L••	term loan first lien	$536,000	-$3,000 150c	S+475 bp
C•••• H•••••••• L••	term loan first lien	$197,000	-$3,000	S+525 bp
A••••••• B•••••••• L••	term loan first lien	$524,000	-$3,000	S+600 bp
P•••••••• C••••••••• M••••• I•••	term loan first lien	$890,000	-$4,000	S+500 bp
D•••• A••••••••• C•••••••••	term loan first lien	$373,000	-$4,000	S+475 bp
A•••• B••••••• 2•••• I•••	term loan first lien	$264,000	-$4,000	S+425 bp
M••• B•••• L••	term loan first lien	$871,000	-$4,000 100c	S+525 bp
P•••••• C•••••••••	term loan first lien	$353,000	-$4,000 400c	S+450 bp
M•• S••••••• L••	term loan first lien	$279,000	-$5,000 500c	S+475 bp
M••• H•••••••• L••	term loan first lien	$244,000	-$5,000 500c	S+450 bp
F•••••••• O••••••••• L••	term loan first lien	$1.0M	-$5,000	S+525 bp
F••••• I•••	term loan first lien	$958,000	-$5,000	S+475 bp
B••••••• L••	term loan first lien	$196,000	-$5,000	S+475 bp
P•••••••• C••••••••• M••••• I•••	term loan first lien	$912,000	-$5,000	S+500 bp
D••••••• C•••••••••	term loan first lien	$217,000	-$6,000 600c	S+500 bp
L•••••• H••••••••• H•••••• C••••••• L••	term loan first lien	$284,000	-$6,000 200c
M•••• N• I•••	term loan first lien	$794,000	-$7,000 233c	S+475 bp
M••• B•••• L••	term loan first lien	$1.4M	-$7,000	S+525 bp
E•••••• B••••• I•••	term loan first lien	$468,000	-$7,000	S+450 bp
V•••• B••••• I•••	term loan first lien	$315,000	-$7,000 350c	S+450 bp
N• T••••• L••	term loan first lien	$814,000	-$8,000 267c	S+450 bp
O••••••••• L••	term loan first lien	$654,000	-$9,000	S+450 bp	Dec 1, 2028
X••••• C•••••••••	term loan first lien	$154,000	-$9,000	S+625 bp
B••••••• L••	term loan first lien	$435,000	-$10,000	S+475 bp
O••••••••• N•••• A•••••• I•••	term loan first lien	$375,000	-$10,000 1000c	S+300 bp	Oct 1, 2031
O••••••••• L••	term loan first lien	$818,000	-$11,000 367c	S+450 bp
M••• H•••••••• L••	term loan first lien	$571,000	-$11,000	S+450 bp
L••••••••• B••••• I•••	term loan first lien	$2.4M	-$12,000	S+425 bp
B•••• T•••• A••••••• G••••• L•	term loan first lien	$832,000	-$13,000 325c
R••••• B••••• L••	term loan first lien	$859,000	-$16,000 533c	S+450 bp
i••••• I•••	term loan first lien	$253,000	-$16,000	S+575 bp
E••••••• P•••••• I•••	term loan first lien	$863,000	-$21,000 300c	S+525 bp
B•••• P••••• H•••••••• I•••	term loan first lien	$680,000	-$22,000 2200c	S+450 bp
P•• I••••••••• H•••••••• L••	term loan first lien	$1.3M	-$25,000
D••••••••• A••••••••• I•••	term loan first lien	$642,000	-$26,000 1300c	S+450 bp
V•••• B••••• I•••	term loan first lien	$1.3M	-$27,000	S+450 bp
R••••• B••••• L••	term loan first lien	$1.7M	-$33,000	S+450 bp
L••••••••• I•••	term loan first lien	$210,000	-$33,000 1650c	S+112 bp
P••••• C••• C••••••• L••	term loan first lien	$272,000	-$38,000 1267c	S+600 bp
D••••••••• A••••••••• I•••	term loan first lien	$1.4M	-$57,000	S+450 bp
H•• I••••••••• I•••	preferred equity equity	$3.4M	Not disclosed
E•••••• T••••• I•••	preferred equity equity	$634,000	Not disclosed
F• W••••••••• H•••••••• L••	preferred equity equity	$52,000	Not disclosed

Page 4 of 4Previous

Registration

Fiscal year end: 1231reported
Incorporated: DEreported
On the SEC BDC report: 2023 to 2026reported
Filings listed: 13reported10-Q and 10-K since 2022
Former names: New M••••••• G••••••• IV Unlevered BDC, L.L.C.reported
Latest schedule: 0001976719-26-000020reported