DFX Intelligence
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A•• P•••••• C••••• I••••• F•••
A non-traded business development company, managed by A•• U• D• M••••••••• L••, holding $1.3B across 48 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
- $1.3B
- Borrowers
- 48
- Mark on cost
- 99.9¢
- 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
- 1 below 80¢$105K principal
1 position across 1 borrower marked below 80¢ on cost, $105K principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 2 → 4loans paying in kind
Loans paying in kind rose from 2 to 4 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.
- $894M → $1.3Bfair value, 4 quarters
Its portfolio grew 43% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 2011498 · file 814-01782ShowHide
Fair value
$1.3B
as of Jun 30, 2026
Principal held
$1.2B
debt pieces, the filer's figure
Cost
$1.3B
100c on cost, debt pieces
Unfunded
$265M
commitments not yet drawn
Positions
180
48 borrowers
First lien
96%
96% debt by fair value
Quarters on the tape
7
since Dec 31, 2024
Facilities held
110
10 sponsors financed
Portfolio through time
Fair value by quarter end$1.3B as of Jun 30, 2026
Dec 31, 2024$1.8B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $1.3B | 48 | 100c | 4 | 483 bp |
| Mar 31, 2026 | $1.3B | 47 | 100c | 2 | 481 bp |
| Dec 31, 2025 | $1.5B | 43 | 100c | 2 | 484 bp |
| Sep 30, 2025 | $1.2B | 39 | 99c | 2 | 495 bp |
All 7 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $894M | 31 | 100c | 1 | 487 bp |
| Mar 31, 2025 | $2.8B | 23 | 100c | 1 | 487 bp |
| Dec 31, 2024 | $1.8B | 18 | 100c | 0 | 492 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity shortened (observed)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- New borrower on a BDC scheduleDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
Largest facilities held, with co-lenders
- M••••••• P••••• L•• first lien term loan1 BDC hold it · matures May 4, 2031$57.2M 101c
- I••••••• I•• first lien term loan4 BDCs hold it · matures Jun 9, 2032$53.4M 100c
- M••••••• P•••••• I•• first lien term loan3 BDCs hold it · matures Jun 27, 2031$53.2M 101c
- F•••••• S••••••• L•• first lien term loan24 BDCs hold it · matures Aug 31, 2032$52.0M 99c
- S••••• S•••• B•••• L•••••• first lien term loan2 BDCs hold it · matures Dec 3, 2031$44.3M 100c
- C••••••••• L•• first lien term loan12 BDCs hold it · matures Apr 22, 2032 · possible sponsor T• A•••••••••$44.1M 100c
- S••••••• B•••••• L•• first lien delayed draw term loan7 BDCs hold it · matures Jul 25, 2028 · possible sponsor A••••• H••••••• M••••••••• C•••••• L••$44.0M 100c
- S•••••••• I•• first lien term loan4 BDCs hold it · matures Feb 19, 2032 · possible sponsor A••••••• S••••••••• L••$42.9M 100c
- P••••••• P•••••• L•• first lien term loan5 BDCs hold it · matures Apr 16, 2032 · possible sponsor P•••••• S••••• C••••••• L•$41.2M 95c
- M•• S••••••• L•• first lien term loan31 BDCs hold it · matures Feb 29, 2028$40.8M 100c
- C••••• S•••••••• A••••••••• I•• first lien term loan12 BDCs hold it · matures Aug 7, 2031$40.7M 100c
- A••••••• I•• first lien term loan21 BDCs hold it · matures Jun 21, 2029$39.8M 100c
Schedule of investments at Sep 30, 2025
144 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| S•••• I••••••• D••• 7•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| M•• S••••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| M••••••• P•••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| A••• S•••••• P•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| C•••••• G••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| C••••••• H••• I••••••••• H••••••• L•• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | ||
| S•••• I••••••• D••• 6•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| C••••• S•••••••• A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| E•• B••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| F••••••• C•••••••• L••• | equity equity | Not disclosed | Not disclosed | ||
| S•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| S•••• M••••••••• B••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| M••••••• P•••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| T••••••• S••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| S•••• I••••••• D••• 1•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I• I••••••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| E•••• P••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| K•••• I••••••••• H•••••••• I••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | ||
| S••••••• B•••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| A•• B••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| C••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| E•• B••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| I••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| S•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| S•••• I••••••• D••• 9•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G••••• B••••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| S••••••• B•••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| C••••• S•••••••• A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| X••••• I••• | revolver lien unstated | Not disclosed | Not disclosed | ||
| C••••• S•••••••• A••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| S••• H••••••• B••••• I••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | ||
| S••••••• H•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| C•••• A••••••••• C••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| T•••• B• B••••••• L••• | delayed draw term loan lien unstated | Not disclosed | Not disclosed | ||
| F••••••• A••••••••• C•••• I•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| S••••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | ||
| C•••••• G••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| E•••• P••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| F••••••• A••••••••• C•••• I••• | revolver first lien | Not disclosed | Not disclosed | ||
| K•••• I••••••••• H•••••••• I••• | revolver lien unstated | Not disclosed | Not disclosed | ||
| S••••• S•••• B•••• L•••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | ||
| S••• H••••••• B••••• I••• | revolver lien unstated | Not disclosed | Not disclosed | ||
| G••••• B••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed |
Page 2 of 2Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2025 to 2026reported
- Filings listed
- 9reported10-Q and 10-K since 2022
- Former names
- A•• P•••••• C••••• I••••• F••• LPreported
- Latest schedule
- 0001193125-26-334994reported