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

A• P•••••• L•••••• F•••

BDCnon-tradedCIK 1982701file 814-01744AUSTIN, TXmanaged by A• P•••••• C••••• I•••••••• L••

Fair value

$376M

as of Jun 30, 2026

Principal held

$381M

debt pieces, the filer's figure

Cost

$380M

99c on cost

Unfunded

n/a

commitments not yet drawn

Positions

378

169 borrowers

First lien

99%

99% debt by fair value

Quarters on the tape

since Jun 30, 2024

Facilities held

319

22 sponsors financed

Portfolio through time

Fair value by quarter end$376M as of Jun 30, 2026

Jun 30, 2024$870M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$376M	169	99c	11	486 bp
Mar 31, 2026	$370M	176	99c	7	472 bp
Dec 31, 2025	$339M	133	100c	6	497 bp
Sep 30, 2025	$307M	115	100c	6	508 bp
Jun 30, 2025	$269M	94	100c	8	524 bp
Mar 31, 2025	$816M	98	100c	6	529 bp
Dec 31, 2024	$939M	94	100c	9	536 bp
Sep 30, 2024	$795M	78	100c	9	543 bp
Jun 30, 2024	$870M	79	100c	13	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
A• P•••••• L•••••• F••• joins N•••••• H•••••••• I•• term loan (first lien) held by 19 other BDCs
New borrower on a BDC scheduleJun 30, 2026
D•••••••• P•• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins W•••••••• S••••• H•••••••• L•• term loan (first lien) held by 1 other BDC
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins P••• R•••• H•••••••• I•• term loan (first lien) held by 3 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins H••••• M••••• S•• I•• term loan (first lien) held by 1 other BDC
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins N•••••• F•••••• B•• term loan (first lien) held by 3 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins I••••••••• I•• term loan (first lien) held by 6 other BDCs
New borrower on a BDC scheduleJun 30, 2026
E••••••• H••••• P••••••• H•••••••• L•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
L•••••• R•••••••• P••••• I•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
N••• S••••••• I•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
R••••• L•• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins O•••• term loan (first lien) held by 9 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins C•••• S••••••• G••••• I•• term loan (first lien) held by 15 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins S•••••••• P•••••• L•• term loan (first lien) held by 3 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins M•••••• B•••• I•• term loan (first lien) held by 6 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins A••••••• F•••• B•• term loan (first lien) held by 1 other BDC
New borrower on a BDC scheduleJun 30, 2026
P•• A••••••• I••••••••• I•• first appears in a BDC schedule (1 lender)
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins F•••• F•••••••• P•••••••• L•• term loan (first lien) held by 10 other BDCs
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins T•••••• T••••••••• L•• term loan (first lien) held by 1 other BDC
New lender joined a facilityJun 30, 2026
A• P•••••• L•••••• F••• joins G•••• W•••• S••••••• C••• term loan (first lien) held by 4 other BDCs

Every position change, including routine ones

Largest facilities held, with co-lenders

T•••••• I• H•••••••• L•• first lien delayed draw term loan
2 BDCs hold it · matures Aug 31, 2029
$7.2M 100c
P•••••• A•••• H•••••••• L• first lien term loan
8 BDCs hold it · matures Dec 31, 2032
$7.1M 100c
S•••••••• H••••• L•• first lien term loan
9 BDCs hold it · matures Aug 18, 2032
$7.1M 101c
D••••••• I•• first lien term loan
2 BDCs hold it · matures Mar 11, 2030
$7.0M 99c
P•••••• A••••••••• L•• first lien term loan
8 BDCs hold it · matures Sep 7, 2032
$6.3M 100c
Q•••• A•••••••• I•• first lien term loan
2 BDCs hold it · matures Nov 10, 2032
$6.2M 99c
F••••••••• L•• first lien term loan
2 BDCs hold it · matures Sep 19, 2031
$6.1M 99c
E••••••• I•• first lien term loan
4 BDCs hold it · matures Jun 1, 2027
$5.8M 98c
L••••••••• B••••• I•• first lien term loan
12 BDCs hold it · matures Feb 29, 2032 · L••••••••• F••••••
$5.6M 100c
S•••••• P•••••• L•• first lien term loan
7 BDCs hold it · matures Oct 16, 2031
$5.5M 94c
G••••••••• S•••••••• I•• first lien term loan
4 BDCs hold it · matures Sep 1, 2028
$5.5M 99c
F••••• H•••••• C••• first lien term loan
7 BDCs hold it · matures Sep 15, 2029
$5.5M 93c

Schedule of investments at Jun 30, 2026

378 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
S•••••••• P••••• LLC S•••••••	term loan first lien	$498,744	$415,828 95c	SOFR+400 bp	Apr 16, 2032
Z••••••• I••. S•••••••	delayed draw term loan first lien	$412,648	$409,554 100c	SOFR+500 bp	Nov 22, 2028
V•••••••• L•• Diversified Consumer Services	delayed draw term loan first lien	$414,902	$406,344 98c	SOFR+650 bp	Dec 28, 2027
F••••••• M••••, Inc Automobiles	term loan first lien	$411,287	$406,146 100c	SOFR+275 bp PIK 3.25%	Jul 18, 2030
L•••••• P••••••••• I••. H••••• C••• Providers & Services	term loan first lien	$409,706	$399,463 98c	SOFR+500 bp	Nov 24, 2031
T•• C••••• f•• O••••••••• and Research Excellence, Inc. H••••• C••• Providers & Services	delayed draw term loan first lien	$399,115	$399,115 100c	SOFR+600 bp	Jun 30, 2028
S• M••••• H••••• L•• E••••• Equipment & Services	term loan first lien	$390,000	$389,513 100c	SOFR+250 bp	Jun 24, 2033
N• T••••• L•• Financial Services	delayed draw term loan first lien	$389,342	$389,342 101c	SOFR+450 bp	Aug 29, 2031
K••••• I••. S•••••••	term loan first lien	$497,481	$382,782 81c	SOFR+325 bp	Mar 22, 2032
G•••••• S•••••• P•••••••• L•• Financial Services	revolver first lien	$381,999	$375,314 100c	SOFR+550 bp	Dec 23, 2031
B• E•• B••••• I•• H••••• C••• Technology	term loan first lien	$374,486	$374,486 101c	SOFR+525 bp	Nov 23, 2027
L••••••••• I••. Automobile Components	delayed draw term loan first lien	$397,495	$370,838 95c	SOFR+500 bp	Jun 23, 2032
T•• C••••• f•• O••••••••• and Research Excellence, Inc. H••••• C••• Providers & Services	delayed draw term loan first lien	$361,744	$361,744 100c	SOFR+600 bp	Jun 30, 2028
G••• E•••••• B••••••• LLC Financial Services	term loan first lien	$356,409	$354,684 100c	SOFR+250 bp	Sep 5, 2031
N•• A••••••••• I••. Financial Services	term loan first lien	$354,200	$350,658 101c	SOFR+450 bp	Sep 6, 2028
Foundation R••• Partners, Corp. Insurance	delayed draw term loan first lien	$350,657	$349,781 100c	SOFR+475 bp	Oct 29, 2030
S•••••••• H••••• L•• Diversified Consumer Services	delayed draw term loan first lien	$342,287	$342,287 102c	SOFR+475 bp	Aug 18, 2032
B••••••••• B••••• I••. Media	term loan first lien	$345,334	$339,291 99c	SOFR+650 bp	Nov 16, 2027
P••••••• O••••••• M•••• 2• L••. H••••• C••• Providers & Services	delayed draw term loan first lien	$337,962	$337,962 100c	SOFR+525 bp	Jul 17, 2028
M•• G••••• I••••••••• L•• Food Products	term loan first lien	$329,491	$329,491 101c	SOFR+575 bp	May 1, 2031
V•••••••• L•• Diversified Consumer Services	revolver first lien	$327,024	$322,936 100c	SOFR+650 bp	Dec 28, 2027
J•••••• B••••••• Inc Capital Markets	term loan first lien	$320,000	$319,334 100c	SOFR+275 bp	Mar 25, 2033
B••••••••• T••••••••• L•• Technology Hardware, Storage & Peripherals	delayed draw term loan first lien	$326,603	$316,204 100c	SOFR+475 bp	Apr 18, 2033
S•••• L••• I•• S•••••••	delayed draw term loan first lien	$323,687	$313,167 97c	SOFR+550 bp PIK 0.50%	Aug 16, 2027
M••••••• T••••••••• L•• Leisure Products	term loan first lien	$306,996	$302,391	SOFR+475 bp	Apr 30, 2029
A•• T••••• L•• H••••• C••• Providers & Services	delayed draw term loan first lien	$299,879	$299,879 101c	SOFR+500 bp	Dec 22, 2027
M••••••• M••••••••• T•• H••••••• I•• H••••• C••• Equipment & Supplies	term loan first lien	$300,000	$299,751 100c	SOFR+225 bp	Jun 9, 2032
N••••••••• L•• Diversified Consumer Services	term loan first lien	$309,723	$297,335 96c	SOFR+550 bp	Mar 17, 2028
M••• H•••••• C•. H••••• C••• Technology	delayed draw term loan first lien	$272,727	$272,045 101c	SOFR+500 bp	Dec 23, 2030
L••••••••• B••••• I••. H••••• C••• Technology	revolver first lien	$268,788	$260,388 100c	SOFR+475 bp	Feb 6, 2032
M••• B••••• I••. S•••••••	delayed draw term loan first lien	$260,318	$260,318 100c	SOFR+450 bp	Apr 21, 2031
M•• G••••• H•••••••• I••. Technology Hardware, Storage & Peripherals	delayed draw term loan first lien	$255,336	$248,315 98c	SOFR+550 bp	Apr 9, 2029
C••••• H••••• a• H•••• L•• H••••• C••• Providers & Services	term loan first lien	$235,332	$235,332 101c	SOFR+500 bp	Jun 30, 2028
A••••••• R•••• L•• Commercial Services & Supplies	delayed draw term loan first lien	$232,088	$228,606 99c	SOFR+500 bp	Sep 10, 2030
T•• C••••• f•• O••••••••• and Research Excellence, Inc. H••••• C••• Providers & Services	delayed draw term loan first lien	$224,588	$224,588 100c	SOFR+600 bp	Jun 30, 2028
W••••• E••••••••• G••••• L•• Financial Services	delayed draw term loan first lien	$220,675	$220,675 100c	SOFR+425 bp	Oct 2, 2028
S•••• L••• I•• S•••••••	revolver first lien	$225,117	$208,859 94c	SOFR+550 bp	Aug 16, 2027
S•••••••• C••• H•••••••• L•• H••••• C••• Providers & Services	delayed draw term loan first lien	$269,936	$200,428 76c	SOFR+550 bp	Jun 28, 2028
A•••••• B••••• I••. Financial Services	term loan first lien	$200,036	$199,036 100c	SOFR+500 bp	Dec 6, 2029
H••••••• I••. Professional Services	delayed draw term loan first lien	$272,760	$198,155 73c	SOFR+775 bp	May 3, 2029
A•••••• B••••• I••. Financial Services	delayed draw term loan first lien	$198,423	$197,431 101c	SOFR+500 bp	Dec 6, 2029
B• E•• B••••• I•• H••••• C••• Technology	term loan first lien	$190,212	$190,212 101c	SOFR+525 bp	Nov 23, 2027
S••• P••••••••• I••. Banks	delayed draw term loan first lien	$190,053	$185,302 98c	SOFR+450 bp	Nov 12, 2031
H••••• C••••••••• • T••••••••• L•• Diversified Telecommunication Services	delayed draw term loan first lien	$190,724	$183,913 101c	SOFR+475 bp	Mar 31, 2032
S•••••••• C••• H•••••••• L•• H••••• C••• Providers & Services	revolver first lien	$245,800	$182,506 76c	SOFR+550 bp	Jun 28, 2028
M••••••• T••••••••• L•• Leisure Products	delayed draw term loan first lien	$180,048	$177,348 99c	SOFR+475 bp	Apr 30, 2029
M••••••••• I••. Professional Services	revolver first lien	$170,894	$162,112 96c	SOFR+550 bp	Jun 1, 2029
C•• T•••• R••••• L•• Electric Utilities	term loan first lien	$158,526	$158,196 100c	SOFR+275 bp	Apr 15, 2033
A••••••• R•••• L•• Commercial Services & Supplies	delayed draw term loan first lien	$158,550	$156,171 99c	SOFR+500 bp	Sep 10, 2030
FULLSTEAM OPERATIONS, LLC S•••••••	revolver first lien	$165,740	$154,266 96c	SOFR+525 bp	Aug 8, 2031
Foundation R••• Partners, Corp. Insurance	revolver first lien	$153,699	$152,581 99c	SOFR+475 bp	Oct 29, 2029
N•• A••••••••• I••. Financial Services	revolver first lien	$148,075	$146,101 101c	SOFR+450 bp	Sep 6, 2028
C••••••• M••••••• C•••/NY Machinery	term loan first lien	$140,884	$140,473 101c	SOFR+350 bp	Feb 3, 2033
J•••••• S•••••• I••. Financial Services	delayed draw term loan first lien	$137,055	$137,055 100c	SOFR+575 bp	Nov 6, 2031
C•••••• L•• Financial Services	revolver first lien	$137,122	$131,980 97c	SOFR+575 bp	Apr 1, 2027
C•••• E••••• F••••••••• L•• Electric Utilities	term loan first lien	$130,000	$130,163 100c	SOFR+300 bp	Apr 29, 2033
M•• G••••• H•••••••• I••. Technology Hardware, Storage & Peripherals	revolver first lien	$144,597	$129,686 94c	SOFR+550 bp	Apr 9, 2029
M••••••• T••••••••• L•• Leisure Products	delayed draw term loan first lien	$121,943	$120,114 99c	SOFR+475 bp	Apr 30, 2029
A••••••• R•••• L•• Commercial Services & Supplies	revolver first lien	$106,685	$104,439 99c	SOFR+500 bp	Sep 10, 2030
N•• A••••••••• I••. Financial Services	term loan first lien	$96,206	$95,244 101c	SOFR+450 bp	Sep 6, 2028
H•••• H• B••••• I••. H••••• C••• Providers & Services	delayed draw term loan first lien	$92,469	$92,469 101c	SOFR+575 bp	Oct 15, 2027
F••••• Holding, Corp. S•••••••	revolver first lien	$126,169	$91,984 73c	SOFR+625 bp	Sep 15, 2028
S•••••• P•••••• L•• S•••••••	revolver first lien	$129,836	$91,967 75c	SOFR+650 bp	May 13, 2030
T•• B••••• L•• Technology Hardware, Storage & Peripherals	revolver first lien	$115,391	$88,533 78c	SOFR+450 bp	Feb 2, 2032
B••••••• L•• Diversified Consumer Services	delayed draw term loan first lien	$88,667	$87,780 100c	SOFR+475 bp	Mar 5, 2032
S••• and Partners Lower Holdings LLC Real Estate Management & Development	term loan first lien	$87,231	$87,231 101c	SOFR+450 bp	Sep 15, 2028
Foundation R••• Partners, Corp. Insurance	term loan first lien	$86,753	$86,537 100c	SOFR+475 bp	Oct 29, 2030
J••••• L•• Diversified Telecommunication Services	revolver first lien	$87,727	$85,972 99c	SOFR+575 bp	Oct 4, 2030
S••••••• L•• H••••• C••• Equipment & Supplies	revolver first lien	$92,188	$85,850 98c	SOFR+500 bp	Jun 12, 2028
M••••••• T••••••••• L•• Leisure Products	delayed draw term loan first lien	$85,443	$84,161 99c	SOFR+475 bp	Apr 30, 2029
P•••••• A•••••••• L.L.C. Hotels, Restaurants & Leisure	revolver first lien	$90,048	$83,745 99c	SOFR+450 bp	Sep 3, 2032
R••••••••• U••••••••• I••. Insurance	delayed draw term loan first lien	$90,940	$75,710 86c	SOFR+500 bp	May 10, 2032
L•••• D•••• L•• S•••••••	revolver first lien	$77,519	$74,612 97c	SOFR+550 bp	Mar 5, 2031
P••••••• T•••••••• C••••••• I••. H••••• C••• Providers & Services	delayed draw term loan first lien	$76,474	$72,459 95c	SOFR+575 bp	Jan 4, 2027
C•••••••• 2• I••. H••••• C••• Providers & Services	term loan first lien	$72,379	$72,379 103c	SOFR+625 bp	May 12, 2028
P••••••• T•••••••• C••••••• I••. H••••• C••• Providers & Services	term loan first lien	$69,253	$65,617 95c	SOFR+575 bp	Jan 4, 2027
C•••••••• I••••••••• C•••••• Construction & Engineering	delayed draw term loan first lien	$74,503	$64,258 86c	SOFR+575 bp	Nov 14, 2031
S•••••••• C••• H•••••••• L•• H••••• C••• Providers & Services	delayed draw term loan first lien	$61,458	$61,458 102c	SOFR+550 bp	Jun 28, 2028
A••••••• L•• Wireless Telecommunication Services	term loan first lien	$57,989	$57,896 100c	SOFR+425 bp	Aug 19, 2028
A•••••• B••••• I••. Financial Services	delayed draw term loan first lien	$51,747	$51,747 101c	SOFR+500 bp	Dec 6, 2029
M•• H•••••••• I••. Diversified Telecommunication Services	term loan first lien	$51,357	$51,357 100c	SOFR+500 bp	Apr 16, 2027
I•• H•••••• I• A• S•••••••	term loan first lien	$49,875	$48,664 98c	SOFR+500 bp	Sep 1, 2031
D••••••• I••. Chemicals	revolver first lien	$48,346	$46,276 100c	SOFR+450 bp PIK 2.00%	Mar 11, 2030
C•••••••• F•••••••• D••• V• L•• IT Services	term loan first lien	$42,619	$44,994 109c	SOFR+450 bp	Nov 15, 2031
M••••••• T••••••••• L•• Leisure Products	term loan first lien	$38,461	$37,884 99c	SOFR+475 bp	Apr 30, 2029
R•••• T•••• U• B••••• I••. Capital Markets	delayed draw term loan first lien	$37,325	$37,325 105c	SOFR+450 bp	Sep 30, 2031
O••• A••••••••• L•• Insurance	delayed draw term loan first lien	$37,011	$37,011 103c	SOFR+475 bp	Dec 20, 2030
P••••••• T•••••••• C••••••• I••. H••••• C••• Providers & Services	term loan first lien	$36,758	$34,828 95c	SOFR+575 bp	Jan 4, 2027
B••••••••• B••••• I••. Media	revolver first lien	$33,610	$30,081 95c	SOFR+650 bp	Nov 16, 2027
M••• H•••••• C•. H••••• C••• Technology	revolver first lien	$30,303	$30,000 102c	SOFR+500 bp	Dec 23, 2030
B• E•• B••••• I•• H••••• C••• Technology	revolver first lien	$29,581	$29,581 104c	SOFR+525 bp	Nov 23, 2027
G• A••••••••• I••. Professional Services	revolver first lien	$30,932	$28,997 94c	SOFR+525 bp	May 25, 2028
B•••••••, LLC Diversified Consumer Services	revolver first lien	$17,778	$16,889 99c	SOFR+475 bp	Mar 5, 2032
G• A••••••••• I••. Professional Services	delayed draw term loan first lien	$15,050	$14,222 95c	SOFR+525 bp	May 25, 2028
D• B•••••• C•••. Diversified Consumer Services	revolver first lien	$10,294	$9,559 99c	SOFR+475 bp	Feb 10, 2032
L••••••••• I••. Automobile Components	revolver first lien	$21,671	$7,279 44c	SOFR+500 bp	Jun 23, 2032
S•••••••• C••• H•••••••• L•• H••••• C••• Providers & Services	revolver first lien	$2,332	$2,332	SOFR+550 bp	Jun 28, 2028
D• B•••••• C•••. Diversified Consumer Services	delayed draw term loan first lien	$0	$0 0c	SOFR+475 bp	Feb 10, 2032
S••••••••• I•• L•• S•••••••	delayed draw term loan first lien	$0	$0 0c	SOFR+450 bp	Aug 1, 2031
O••• A••••••••• L•• Insurance	revolver first lien	$0	$0 0c	SOFR+475 bp	Dec 20, 2030

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Registration

Fiscal year end: 1231reported
Incorporated: DEreported
On the SEC BDC report: 2026 to 2026reported
Filings listed: 9reported10-Q and 10-K since 2022
Latest schedule: 0001193125-26-352136reported