DFX Intelligence
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W••• B•• B•• L••
A non-traded business development company, managed by G•••••• S•••• A•••• M••••••••• L••, holding $609M across 50 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
- $609M
- Borrowers
- 50
- Mark on cost
- 99.2¢
- First lien
- 97%
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
- 6 → 11loans paying in kind
Loans paying in kind rose from 6 to 11 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.
- $151M → $609Mfair value, 4 quarters
Its portfolio grew 304% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 2020354 · file 814-01758ShowHide
Fair value
$609M
as of Jun 30, 2026
Principal held
$808M
debt pieces, the filer's figure
Cost
$614M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
148
50 borrowers
First lien
97%
100% debt by fair value
Quarters on the tape
8
since Sep 30, 2024
Facilities held
50
18 sponsors financed
Portfolio through time
Fair value by quarter end$609M as of Jun 30, 2026
Sep 30, 2024$11.4M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $609M | 50 | 99c | 11 | 482 bp |
| Mar 31, 2026 | $483M | 49 | 99c | 6 | 477 bp |
| Dec 31, 2025 | $444M | 41 | 100c | 4 | 481 bp |
| Sep 30, 2025 | $295M | 30 | 100c | 3 | 484 bp |
All 8 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $151M | 18 | 100c | 3 | 489 bp |
| Mar 31, 2025 | $581M | 10 | 100c | 3 | 497 bp |
| Dec 31, 2024 | $584M | 4 | 100c | 0 | 475 bp |
| Sep 30, 2024 | $11.4M | 1 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Spread increasedJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Lender left a facilityMar 31, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Spread increasedMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- New lender joined a facilityDec 31, 2025
- Lender left a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Spread increasedDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- New lender joined a facilitySep 30, 2025
Largest facilities held, with co-lenders
- F•••••••• R••• S••••• O••••••••• L•• first lien term loan7 BDCs hold it · matures Mar 4, 2032$28.7M 97c
- A•• D••• C••••••• L•• first lien term loan6 BDCs hold it · matures Nov 27, 2030$28.0M 97c
- H••••••••• I•• first lien term loan4 BDCs hold it · matures Feb 23, 2033 · possible sponsor G•••••• A••••••• S•••••• C••••••• L•••$28.0M 99c
- C••••••••• A••••••••• L•• first lien term loan2 BDCs hold it · matures May 7, 2032 · possible sponsor H•••••• • F••••••• L••$28.0M 99c
- P•• P••••• I•• first lien term loan9 BDCs hold it · matures Aug 18, 2032$27.9M 100c
- S••••••••• I•• first lien term loan7 BDCs hold it · matures Dec 18, 2029$27.8M 99c
- B••••••••• I•• first lien term loan13 BDCs hold it · matures Dec 3, 2032$26.5M 99c
- E••••• M•••• 2• L•• first lien term loan3 BDCs hold it · matures Mar 2, 2033 · possible sponsor Z• C•••••• G••••• L•••••$26.4M n/a
- E•••••• H•••••••• I•• first lien term loan18 BDCs hold it · matures Dec 20, 2032 · possible sponsor V•••••• C•••••• L••$26.1M 98c
- B•••••• P•••••• C• first lien term loan4 BDCs hold it · matures Jun 30, 2031$25.4M 100c
- O••••• A••••••••• I•• first lien term loan15 BDCs hold it · matures Apr 1, 2033 · possible sponsor H•$25.2M 100c
- B•••• P•••••• I•• first lien term loan9 BDCs hold it · matures Apr 25, 2033$24.8M 100c
Schedule of investments at Dec 31, 2024
25 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| I••••••••• a•• I••••••••• i• A••••••••• M•••• M••••• F••• • | unstated lien unstated | Not disclosed | $103M 100c | ||
| I••••••••• i• A••••••••• M•••• M••••• F••• | unstated lien unstated | Not disclosed | $69.0M 100c | ||
| N••••••••• A••••••••• | unstated lien unstated | Not disclosed | $69.0M | ||
| I••••••••• I••••••••• i• A••••••••• M•••• M••••• F••• • 1••• | unstated lien unstated | Not disclosed | $69.0M 100c | ||
| G•••••• S•••• F•••••••• S••••• G••••••••• F••• | equity equity | Not disclosed | $69.0M | ||
| I••••••••• D••• I••••••••• • 5•••• U••••• S••••• • 5•••• 1•• | term loan first lien | Not disclosed | $34.1M 100c | ||
| D••• I••••••••• | unstated lien unstated | Not disclosed | $34.1M 100c | ||
| I••••••••• D••• I••••••••• • 5•••• U••••• S••••• • 5•••• | unstated lien unstated | Not disclosed | $34.1M 100c | ||
| U••••• S••••• | unstated lien unstated | Not disclosed | $34.1M 100c | ||
| T•••• 1•• L••••••••• S•••••• D••• | term loan first lien | Not disclosed | $34.1M 100c | ||
| A•• D••• C••••••• L•• IT S••••••s | term loan first lien | $15.9M | $15.6M 100c | SOFR+475 bp | Nov 27, 2030 |
| R••••••• B••••• L•• ••• R••••••• M•••••••• S•••••••• M•••••••• | term loan first lien | $11.1M | $11.0M 100c | SOFR+475 bp | Dec 26, 2031 |
| T••••••• B••••• L•• ••• T••••••• C•••••• F••• P••••••• | term loan first lien | $7.3M | $7.2M 100c | SOFR+475 bp | Dec 11, 2030 |
| R••••••• B••••• L•• ••• R••••••• M•••••••• S•••••••• M•••••••• | term loan first lien | $1.4M | $305,000 100c | SOFR+475 bp | Dec 26, 2031 |
| T••••••• B••••• L•• ••• T••••••• C•••••• F••• P••••••• | term loan first lien | $1.2M | $176,000 100c | SOFR+475 bp | Dec 11, 2030 |
| R••••••• B••••• L•• ••• R••••••• M•••••••• S•••••••• M•••••••• | term loan first lien | $2.9M | -$14,000 100c | SOFR+475 bp | Dec 26, 2031 |
| A•• D••• C••••••• L•• IT S••••••s | term loan first lien | $2.8M | -$56,000 102c | SOFR+475 bp | Nov 27, 2030 |
| A•• D••• C••••••• L•• IT S••••••s | term loan first lien | $9.3M | -$94,000 102c | SOFR+475 bp | Nov 27, 2030 |
| D••• I••••••••• • 5•••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I••••••••• i• A••••••••• M•••• M••••• F••• • 1••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| U••••• S••••• • 5•••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I••••••••• I••••••••• i• A••••••••• M•••• M••••• F••• • 3••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I••••••••• D••• I••••••••• • 5•••• | unstated lien unstated | Not disclosed | Not disclosed n/a | ||
| U••••• S••••• • 1••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| 1•• L••••••••• S•••••• D••• • 5•••• | term loan first lien | Not disclosed | Not disclosed |
Page 1 of 1
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2025 to 2026reported
- Filings listed
- 8reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-344618reported