DFX Intelligence
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M••••••• C•••••••• L•••••• I••••• F•••• I•••
A non-traded business development company, managed by M••••••• D••••• L•••••• A••••••• L••, holding $502M across 30 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
- $502M
- Borrowers
- 30
- Mark on cost
- 100.6¢
- First lien
- 33%
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
- 74 → 30borrowers
Lost a net 44 borrowers in the quarter to Jun 30, 2026, to 30.
Q2 2026 · The book is turning over faster than usual.
- $432M → $605Mfair value, 4 quarters
Its portfolio grew 40% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1985375 · file 814-01659ShowHide
Fair value
$502M
as of Jun 30, 2026
Principal held
$98.5M
debt pieces, the filer's figure
Cost
$497M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
118
30 borrowers
First lien
33%
48% debt by fair value
Quarters on the tape
6
since Dec 31, 2024
Facilities held
41
5 sponsors financed
Portfolio through time
Fair value by quarter end$605M as of Jun 30, 2026
Dec 31, 2024$554M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $605M | 30 | 101c | 4 | n/a |
| Mar 31, 2026 | $579M | 74 | 100c | 3 | 375 bp |
| Dec 31, 2025 | $677M | 64 | 102c | 3 | 375 bp |
| Sep 30, 2025 | $444M | 28 | 101c | 2 | 425 bp |
All 6 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $432M | 25 | 101c | 2 | 425 bp |
| Dec 31, 2024 | $554M | 24 | 100c | 2 | 425 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity shortened (observed)Jun 30, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
Full timeline · 20 eventsShow fewer
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
Largest facilities held, with co-lenders
- T••••••••• E•••••••• A••••••• • B•••• I••••••••• S•••••••• L•• first lien term loan1 BDC hold it · matures Feb 6, 2030$9.0M 102c
- T••••••••• E•••••••• A••••••• • G••••••• F•••• S•••••••• I•• first lien term loan1 BDC hold it · matures Feb 10, 2028$8.5M 102c
- H••••••••• E••••• • S••• E••••• • E••••••••• L•• first lien term loan1 BDC hold it · matures Jan 30, 2031$6.5M 102c
- P•• W•••••••• first lien term loan1 BDC hold it · matures Mar 19, 2029$5.8M 101c
- C••••••• C••••• f•• A••••• S•••••••• L•• first lien term loan1 BDC hold it · matures Nov 21, 2027$5.6M 102c
- P••••• L•• first lien term loan3 BDCs hold it · matures May 22, 2031$4.6M 100c
- $1.7M 128c
- B••••••• M•••••••• • T•••• B••••••• P•••••••• L•• first lien term loan1 BDC hold it · matures Sep 20, 2030$1.5M 99c
- C••••••• C••••• f•• A••••• S•••••••• L•• first lien delayed draw term loan1 BDC hold it · matures Nov 21, 2027$1.4M 103c
- F••• I••••••••• I•• first lien term loan4 BDCs hold it · matures Jun 27, 2031$1.2M 99c
- C••••••••• • V•••••• O•••••••• C• first lien term loan1 BDC hold it · matures Nov 29, 2030$1.2M 94c
- N•••• T•••••• L•• first lien term loan1 BDC hold it · matures Jan 30, 2032$1.0M 100c
Schedule of investments at Mar 31, 2026
128 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A••••••• L•• • A••••••• F•••••• I•••• C•••••••• I•••••••• | notes lien unstated | $500,000 | $471,782 97c | 4.25% | Feb 15, 2029 |
| R••••• S•••••••• I••• T••••••••• | term loan first lien | $492,528 | $471,443 96c | S+375 bp | Nov 28, 2028 |
| B••••••• M•••••••• • S••••••• I••••••••• I•••• C•••••••• | notes lien unstated | $500,000 | $471,092 98c | 4.38% | Jul 15, 2030 |
| M••••••••• | unstated lien unstated | Not disclosed | $470,133 97c | ||
| M••••••••• • N•••••• C••• • C•••••••• | notes lien unstated | $500,000 | $470,133 97c | 4.75% | Jan 30, 2030 |
| C••••••••• T• • M••••••••• C••••••••• • C•••••••• | notes lien unstated | $500,000 | $465,209 98c | 8.00% | Aug 15, 2032 |
| C••••••••• T• | unstated lien unstated | Not disclosed | $465,209 98c | ||
| B••••••• M•••••••• • M••• H••••• I• L•• | term loan first lien | $492,519 | $452,295 92c | 7.59% | Mar 28, 2031 |
| S•••• R••••• • M•••••• C••••••••• • C•••••••• | notes lien unstated | $500,000 | $450,854 98c | 4.75% | Nov 15, 2029 |
| D••••• B•••• I••• D••••••••• Financial Services | term loan first lien | $469,063 | $444,146 95c | 7.84% | Sep 30, 2031 |
| B••••••• M•••••••• • C•••••• B•••• L•• | term loan first lien | $398,247 | $394,121 99c | 7.26% | Sep 8, 2032 |
| C••••••••• • P••••••• P• B••••••• L•• | term loan first lien | $400,000 | $385,300 98c | 7.92% | Mar 7, 2033 |
| T••• S••••••• H•••••••• I••• H••••••••• | term loan first lien | $385,000 | $363,463 95c | 9.17% | Jan 31, 2033 |
| P•• H•••••••• L•• D••••••••• S•••••• Services | preferred equity equity | $495,570 | $340,672 69c | 8.00% | |
| N••••••••• I••••••••• • E••••• I••••••••• • P•••••••• S•••• D••••••••• S•••••• Services | preferred equity equity | Not disclosed | $340,672 69c | ||
| N••••••••• I••••••••• • H••••••••• • P•••• H••••••••• S••••• | notes lien unstated | $325,000 | $337,093 104c | 9.38% | Sep 1, 2029 |
| T••••••••• E•••••••• A••••••• • G••••••• F•••• S•••••••• I••• | warrants equity | $241,912 | $297,412 | ||
| N••••••••• I••••••••• • W••••••• | warrants equity | Not disclosed | $297,412 | ||
| T••••••••• E•••••••• A••••••• | warrants equity | Not disclosed | $297,412 | ||
| P••••••• P••••• L•• • C•••••••• H••••••••• | notes lien unstated | $300,000 | $266,413 101c | 8.75% | Apr 17, 2032 |
| C•••• S••••••• G•• I•• • C•••••••• T••••••••• | notes lien unstated | $250,000 | $243,978 99c | 6.50% | Jun 30, 2032 |
| O•••••• W•••• U• H••••••• C••••• C•••••••• C•••••••• | notes lien unstated | $200,000 | $191,045 99c | 4.25% | Oct 1, 2027 |
| A•• T••• H••••••• I••• C••••••••• | term loan first lien | $160,000 | $160,533 101c | 7.51% | Sep 17, 2032 |
| R••••••••• P••••• L•• Capital G•••• | term loan first lien | $152,174 | $151,270 100c | 6.42% | Feb 28, 2033 |
| N••••••••• I••••••••• • C•••••••• B••• I••••••••• A••••••• • | notes lien unstated | $139,583 | $139,635 101c | 5.50% | Apr 20, 2026 |
| S••••••• • D•• E••••••••• I••• | term loan first lien | $124,375 | $124,867 100c | 7.17% | Oct 7, 2030 |
| F••••••••• • S•••• A••••••••• I••• | term loan first lien | $46,764 | $46,773 100c | 6.92% | Feb 19, 2032 |
| L••••••••• i• E••••• o• O•••• A••••• | unstated lien unstated | Not disclosed | -$565,716 |
Page 2 of 2Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2024 to 2026reported
- Filings listed
- 12reported10-Q and 10-K since 2022
- Former names
- M••••••• Direct Lending Income Fund, Inc.reported
- Latest schedule
- 0001213900-26-089203reported