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 Mar 31, 2025
1,143 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| P•••••••• C••••••••• M••••• I••• C••••••••• and P•••••••• | delayed draw term loan first lien | $13.0M | -$94,000 | SOFR+475 bp | Jan 22, 2032 |
| D• I••••••••• H•••••• I••• | delayed draw term loan first lien | Not disclosed | -$111,000 | ||
| R•••••• L••••••••• L•• | delayed draw term loan first lien | Not disclosed | -$136,000 | ||
| F••••• E••••••••• L•• | delayed draw term loan lien unstated | Not disclosed | -$142,000 | ||
| M• S•• I• L•• M•••• | term loan first lien | $2.0M | -$158,000 -8c | SOFR+425 bp | Dec 31, 2031 |
| W••••• E••••••••• G••••• L•• | delayed draw term loan first lien | Not disclosed | -$206,000 | ||
| F••••••••• R••• P•••••••• C•••• | delayed draw term loan lien unstated | Not disclosed | -$315,000 | ||
| T•••• U••••••• C••••••••• | unstated lien unstated | Not disclosed | -$3.7M | ||
| C••••• P••••••• E••••• H•••••• L•• Financial S••••••s | delayed draw term loan first lien | $5.0M | Not disclosed n/a | SOFR+525 bp | Jul 28, 2029 |
| T••••••••• H••••••••• S••••••••• L•• H••••••••• P•••••••• and S••••••s | revolver first lien | $257,000 | Not disclosed | SOFR+475 bp | Jul 14, 2027 |
| N•••• L•• H••••••••• P•••••••• and S••••••s | revolver first lien | $184,000 | Not disclosed | SOFR+525 bp | Jun 14, 2025 |
| E•••••••• T••••••••• C•••• E••••••••• E••••••••, I••••••••• and C••••••••• | delayed draw term loan first lien | $5.0M | Not disclosed n/a | SOFR+525 bp | Aug 12, 2029 |
| T•••• A••••••••• I••• IT S••••••s | delayed draw term loan first lien | Not disclosed | Not disclosed | S+600 bp | Feb 19, 2030 |
| E•••••• H•••••••• I••• S••••••• | delayed draw term loan first lien | $44,000 | Not disclosed n/a | SOFR+550 bp | Dec 24, 2029 |
| K••• B••••• L•• S••••••• | revolver first lien | $365,000 | Not disclosed n/a | SOFR+475 bp | Jan 27, 2026 |
| K••••• I••• M•••• | revolver first lien | $813,000 | Not disclosed | SOFR+450 bp | Mar 31, 2028 |
| K••• A••••••••• I••• I•••••••• | revolver first lien | $326,000 | Not disclosed | SOFR+525 bp | Feb 28, 2030 |
| H•••••• B••••• L•• Financial S••••••s | delayed draw term loan first lien | $620,000 | Not disclosed | SOFR+575 bp | Aug 25, 2028 |
| E•••••• H•••••••• I••• S••••••• | revolver first lien | $174,000 | Not disclosed n/a | SOFR+550 bp | Dec 24, 2029 |
| B••••••• T••••••• I••• S••••••• | revolver first lien | $637,000 | Not disclosed n/a | SOFR+550 bp | Jul 27, 2027 |
| S••••••• A• B••••• L•• H•••••, R••••••••• and L•••••• | revolver first lien | $2.2M | Not disclosed n/a | SOFR+525 bp | Mar 2, 2028 |
| C••••••••• H•••••••• I•• H••••• C••• T••••••••• | revolver first lien | $670,000 | Not disclosed n/a | SOFR+475 bp | Oct 31, 2028 |
| F• H••• I••••••••• H•••••••• I••• C••••••••• S••••••s and S••••••• | revolver first lien | $1.2M | Not disclosed | SOFR+450 bp | Feb 22, 2030 |
| 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 |
| K••• A••••••••• I••• Financial S••••••s | delayed draw term loan first lien | $8.3M | Not disclosed n/a | SOFR+650 bp | Jul 6, 2029 |
| O••••• P••••••••• S•••••••• L•• H••••••••• P•••••••• and S••••••s | revolver first lien | $297,000 | Not disclosed n/a | SOFR+425 bp | May 2, 2028 |
| D•• A••••••••• C•••• C•••••••• | delayed draw term loan first lien | $4.4M | Not disclosed n/a | SOFR+475 bp | Jun 13, 2031 |
| H••••••• B••••••• L•• C••••••••• S••••••s and S••••••• | revolver first lien | $329,000 | Not disclosed | SOFR+625 bp | Dec 14, 2026 |
| D••••••• G•••• H•••••••• I••• M•••••••• | revolver first lien | $1.2M | Not disclosed | Prime+450 bp | Jun 30, 2026 |
| S•••• P•• B•••• L•• F••• P••••••• | delayed draw term loan first lien | $6.8M | Not disclosed n/a | SOFR+525 bp | Oct 2, 2030 |
| E•••• L•• Oil, Gas and C••••••••• F•••• | delayed draw term loan first lien | $72,000 | Not disclosed | SOFR+475 bp | Dec 8, 2027 |
| U••• H•••••••• I••• P••••••••• S••••••s | revolver first lien | $2.3M | Not disclosed n/a | SOFR+550 bp | Dec 31, 2029 |
| P•••••• P••••••••• I••• H••••••••• P•••••••• and S••••••s | revolver first lien | $2.7M | Not disclosed n/a | SOFR+500 bp | Sep 19, 2031 |
| W••••• E••••••••• G••••• L•• Financial S••••••s | revolver first lien | $1.1M | Not disclosed n/a | SOFR+500 bp | Oct 2, 2028 |
| Q•• P•••••• I••• S••••••• | revolver first lien | $450,000 | Not disclosed n/a | SOFR+475 bp | Nov 7, 2031 |
| R•••• T•••• U• B••••• I••• IT S••••••s | equity equity | $34,000 | Not disclosed n/a | ||
| R•• A••••••••• L•• Capital M•••••• | delayed draw term loan first lien | $771,000 | Not disclosed n/a | SOFR+575 bp | Aug 31, 2030 |
| C••••• B•••••• A••••••• L•• Financial S••••••s | revolver first lien | $226,000 | Not disclosed n/a | SOFR+550 bp | Jun 30, 2028 |
| P•• I••••••••• H•••••••• L•• D••••••••• C••••••• S••••••s | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp PIK 13.75% | Aug 31, 2030 |
| I•• I••••••• H•••••••• I••• H••••• C••• T••••••••• | revolver first lien | $1.5M | Not disclosed | SOFR+500 bp | May 11, 2028 |
| D•• A••••••••• C•••• C•••••••• | revolver first lien | $4.4M | Not disclosed n/a | SOFR+500 bp | Jun 13, 2031 |
| A•••••••• R••• M••••••••• I••• I•••••••• | delayed draw term loan first lien | $694,000 | Not disclosed n/a | SOFR+550 bp | Nov 1, 2029 |
| K••• A••••••••• I••• Financial S••••••s | revolver first lien | $377,000 | Not disclosed n/a | SOFR+525 bp | Jul 6, 2029 |
Page 12 of 12Previous
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