DFX Intelligence
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A•••••• S•••••••• C••••• F•••
A non-traded business development company, managed by A•••••• C•••••• C••••• A••••••• L••, holding $4.6B across 445 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
- $4.6B
- Borrowers
- 445
- Mark on cost
- 99.0¢
- First lien
- 96%
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
- 11 below 80¢$33.4M principal
11 positions across 11 borrowers marked below 80¢ on cost, $33.4M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 36 → 39loans paying in kind
Loans paying in kind rose from 36 to 39 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.
- $3.2B → $4.6Bfair value, 4 quarters
Its portfolio grew 46% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1993402 · file 814-01700ShowHide
Fair value
$4.6B
as of Jun 30, 2026
Principal held
$5.5B
debt pieces, the filer's figure
Cost
$4.7B
99c on cost, debt pieces
Unfunded
$992M
commitments not yet drawn
Positions
1,488
445 borrowers
First lien
96%
96% debt by fair value
Quarters on the tape
10
since Mar 31, 2024
Facilities held
939
70 sponsors financed
Portfolio through time
Fair value by quarter end$4.6B as of Jun 30, 2026
Mar 31, 2024$2.5B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $4.6B | 445 | 99c | 39 | 469 bp |
| Mar 31, 2026 | $4.5B | 452 | 99c | 36 | 467 bp |
| Dec 31, 2025 | $4.7B | 450 | 100c | 37 | 472 bp |
| Sep 30, 2025 | $3.6B | 418 | 100c | 29 | 469 bp |
All 10 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $3.2B | 428 | 100c | 33 | 477 bp |
| Mar 31, 2025 | $13B | 404 | 100c | 25 | 484 bp |
| Dec 31, 2024 | $12B | 372 | 100c | 13 | 505 bp |
| Sep 30, 2024 | $7.8B | 359 | 100c | 17 | 517 bp |
| Jun 30, 2024 | $5.5B | 342 | 100c | 16 | 516 bp |
| Mar 31, 2024 | $2.5B | 278 | 100c | 16 | 556 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Full timeline · 20 eventsShow fewer
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- C•• P•••••• I•• first lien term loan2 BDCs hold it · matures Dec 7, 2028$51.1M 100c
- I••••••••• P•••• S••••••• H•••••••• I•• first lien term loan4 BDCs hold it · matures Nov 22, 2031 · possible sponsor S••••••••• C•••••• P•••••••$48.1M 99c
- M••••••• B•••• I•• first lien term loan9 BDCs hold it · matures Dec 2, 2031$47.3M 99c
- N• K••••• B••••• I•• first lien term loan3 BDCs hold it · matures Jan 31, 2033 · possible sponsor C••••••• C•••••• M••••••••• L••$46.5M 100c
- W••••• E••••••••• G••••• L•• first lien delayed draw term loan8 BDCs hold it · matures Oct 4, 2028 · possible sponsor L•••••••• C•••••• L••$43.3M 100c
- E•••••• H•••••••• I•• first lien term loan18 BDCs hold it · matures Dec 20, 2032 · possible sponsor V•••••• C•••••• L••$42.5M 99c
- K••• A••••••••• I•• first lien delayed draw term loan3 BDCs hold it · matures Dec 12, 2029 · possible sponsor K••••••• • C••••••$40.7M 99c
- O••••••••• L•• first lien term loan25 BDCs hold it · matures Dec 23, 2032 · possible sponsor F•••••••• P•••••••$38.5M 99c
- G•• H••••••• L•• first lien term loan2 BDCs hold it · matures Oct 18, 2030$38.4M 100c
- V••••• M•••• H•••••••• L•• first lien term loan25 BDCs hold it · matures Nov 3, 2032$37.8M 100c
- C••••• P••••••• E••••• H•••••• L•• first lien term loan5 BDCs hold it · matures Jul 28, 2031$37.3M 99c
- A••••••••• G•••••• L•• first lien term loan3 BDCs hold it · matures Oct 25, 2032$36.3M 99c
Schedule of investments at Jun 30, 2024
831 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| Y•• H•••••••• I••• C••••••••• S••••••s and S••••••• | delayed draw term loan first lien | Not disclosed | -$27,000 -208c | S+500 bp | Nov 2, 2026 |
| M•• I••••••• A••••••••• I•• | revolver lien unstated | Not disclosed | -$27,000 | ||
| M••••• A••••••• •••••• I••• | revolver lien unstated | Not disclosed | -$31,000 | ||
| G••••••• B••••• I••• T•••••• Companies and D••••••••• | delayed draw term loan first lien | $2.2M | -$32,000 400c | S+550 bp | Aug 10, 2027 |
| G••••••• B••••• I••• | delayed draw term loan first lien | Not disclosed | -$32,000 | ||
| C••••• P••••••• E••••• H•••••• L•• | revolver first lien | Not disclosed | -$33,000 | ||
| C••••• P••••••• E••••• H•••••• L•• D••••••••• Financial S••••••s | revolver first lien | $3.3M | -$33,000 367c | S+525 bp | Jul 28, 2028 |
| H•••••••• T••••••••• U•• L•• C••••••••• & E••••••••• | revolver first lien | $2.4M | -$36,000 75c | S+550 bp | Jun 3, 2030 |
| H•••••••• T••••••••• U•• L•• | revolver lien unstated | Not disclosed | -$36,000 | ||
| A•••••••• H••••••• L•• | delayed draw term loan first lien | Not disclosed | -$37,000 | ||
| M••••• A••••••• •••••• I••• H•••••, R••••••••• and L•••••• | delayed draw term loan first lien | $3.5M | -$38,000 100c | S+525 bp | May 29, 2030 |
| T••••• G••••• L•• C••••••••• & E••••••••• | delayed draw term loan first lien | $4.1M | -$41,000 216c | S+550 bp | May 25, 2029 |
| T••••• G••••• L•• | delayed draw term loan first lien | Not disclosed | -$41,000 | ||
| I••••••••• P•••• S••••••• H•••••••• I••• | delayed draw term loan lien unstated | Not disclosed | -$42,000 | ||
| M••••• A••••••• •••••• I••• | delayed draw term loan lien unstated | Not disclosed | -$51,000 | ||
| F••• C•••••• S••••••••• I••• | delayed draw term loan first lien | Not disclosed | -$58,000 | ||
| A••• M••••• L•• D••••••••• Financial S••••••s | delayed draw term loan first lien | $4.7M | -$59,000 211c | S+575 bp | Apr 11, 2029 |
| A••• M••••• L•• | delayed draw term loan lien unstated | Not disclosed | -$59,000 | ||
| H••••• B•••• L•• D••••••••• C••••••• S••••••s | delayed draw term loan first lien | Not disclosed | -$60,000 -194c | S+550 bp | Apr 27, 2029 |
| H••••• B•••• L•• | delayed draw term loan lien unstated | Not disclosed | -$60,000 | ||
| M••••••• A••••••••• I••• D••••••••• Financial S••••••s | delayed draw term loan first lien | $8.1M | -$81,000 198c | S+500 bp | Jun 3, 2030 |
| M••••••• A••••••••• I••• | delayed draw term loan lien unstated | Not disclosed | -$81,000 | ||
| R•••••• L••••••••• L•• | delayed draw term loan first lien | Not disclosed | -$133,000 | ||
| R•••••• L••••••••• L•• P••••••••• S••••••s | delayed draw term loan first lien | $11.9M | -$133,000 233c | S+575 bp | Dec 1, 2028 |
| R•••• I•••••• L•• | delayed draw term loan lien unstated | Not disclosed | -$135,000 | ||
| R•• F•• C• A••••••••• C••••••••• | delayed draw term loan lien unstated | Not disclosed | -$204,000 | ||
| C••••• P••••••• E••••• H•••••• L•• | delayed draw term loan first lien | Not disclosed | -$269,000 | ||
| C••••• P••••••• E••••• H•••••• L•• D••••••••• Financial S••••••s | delayed draw term loan first lien | $26.9M | -$269,000 401c | S+525 bp | Jul 28, 2029 |
| T•••• U••••••• C••••••••• | unstated lien unstated | Not disclosed | -$1.8M | ||
| V••••• G•••• H••••••• L•• D••••••••• C••••••• S••••••s | delayed draw term loan unsecured or subordinated | Not disclosed | Not disclosed | PIK 13.75% | Aug 31, 2030 |
| P••••••••• I••• S••••••• | term loan first lien | Not disclosed | Not disclosed | S+300 bp | Aug 31, 2028 |
Page 9 of 9Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2024 to 2026reported
- Filings listed
- 10reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-349216reported