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 Mar 31, 2026
143 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| B••••••••• I••• H••••• C••• T••••••••• | term loan first lien | $1.5M | -$18,000 257c | SOFR+450 bp | Dec 3, 2032 |
| E•••••• H•••••••• I••• ••• E••••••• S••••••• | term loan first lien | $1.9M | -$19,000 271c | SOFR+450 bp | Dec 20, 2032 |
| F•••••••• O••••••••• L•• Financial S••••••s | term loan first lien | $1.5M | -$19,000 146c | SOFR+525 bp | Aug 8, 2031 |
| R•••• F••••• L•• F••• P••••••• | term loan first lien | $1.0M | -$20,000 222c | SOFR+475 bp | Apr 30, 2031 |
| S•••• P••••• H••••••• C•••• ••• S•••••• L••••• C••••••••• S••••••s & S••••••• | term loan first lien | $2.1M | -$21,000 420c | SOFR+475 bp | Dec 16, 2032 |
| C••••••• S•••••••• I••• Financial S••••••s | term loan first lien | $2.2M | -$21,000 420c | SOFR+450 bp | Nov 17, 2031 |
| E•••• L•• C••••••••• S••••••s & S••••••• | term loan first lien | $2.1M | -$21,000 111c | SOFR+475 bp | Oct 2, 2031 |
| K•• P••••• H•••••••• I••• S••••••• | term loan first lien | $1.5M | -$22,000 367c | SOFR+450 bp | Mar 12, 2032 |
| Z••••••• U• B•••• I••• ••• G••••• C••••••• L••••••••) | term loan first lien | $2.3M | -$23,000 230c | SOFR+475 bp | Aug 2, 2032 |
| P•• P••••• I••• ••• P••• A••••••••• P••••••••• S••••••s | term loan first lien | $3.4M | -$26,000 93c | SOFR+450 bp | Aug 18, 2031 |
| A••••••••• P••• T••••••••• L•• S••••••• | term loan first lien | $1.8M | -$28,000 165c | SOFR+525 bp | May 28, 2032 |
| e••••••••• L•• Air F•••••• & L•••••••• | term loan first lien | $3.2M | -$32,000 400c | SOFR+450 bp | Dec 23, 2032 |
| P••• H•••••• I••• ••• P••••• D••• H••••• C••• T••••••••• | term loan first lien | $1.6M | -$33,000 220c | SOFR+600 bp | Sep 30, 2031 |
| F•••••••• R••• S••••• O••••••••• L•• C••••••••• S••••••s & S••••••• | term loan first lien | $2.8M | -$35,000 146c | SOFR+475 bp PIK 2.00% | Mar 4, 2032 |
| L•••• P•••••• I••• ••• N•••••• S••••••• | term loan first lien | $1.6M | -$36,000 327c | SOFR+450 bp | Sep 26, 2031 |
| B••••••••• I••• H••••• C••• T••••••••• | term loan first lien | $3.3M | -$41,000 513c | SOFR+450 bp | Dec 3, 2032 |
| E•••• L•• C••••••••• S••••••s & S••••••• | term loan first lien | $4.2M | -$42,000 221c | SOFR+475 bp | Oct 2, 2031 |
| O••• I••• S••••••• C••••••••• S••••••• | term loan first lien | $2.9M | -$43,000 307c | SOFR+450 bp | Dec 6, 2032 |
| E•••••• H•••••••• I••• ••• E••••••• S••••••• | term loan first lien | $4.5M | -$45,000 563c | SOFR+450 bp | Dec 20, 2032 |
| A•••• B•••• H•••••••• I••• ••• R••••• T••••••••• S••••••• | term loan first lien | $4.4M | -$55,000 500c | SOFR+450 bp | Jan 22, 2033 |
| F•••••••• O••••••••• L•• Financial S••••••s | term loan first lien | $4.5M | -$56,000 280c | SOFR+525 bp | Aug 8, 2031 |
| P•• P••••• I••• ••• P••• A••••••••• P••••••••• S••••••s | term loan first lien | $8.6M | -$64,000 164c | SOFR+450 bp | Aug 18, 2032 |
| L•••• P•••••• I••• ••• N•••••• S••••••• | term loan first lien | $3.1M | -$69,000 627c | SOFR+450 bp | Sep 27, 2032 |
| A• S•••••••• I••• ••• R••••••• I••••••••) | term loan first lien | $4.6M | Not disclosed | SOFR+450 bp | Jul 24, 2033 |
| O••••• P••••••••• I••• ••• O••••• A•••• H••••• C••• T••••••••• | term loan first lien | $500,000 | Not disclosed | SOFR+425 bp | May 19, 2032 |
| E••••• M•••• 2• L•• ••• S•• W••••• F••• P••••••• | term loan first lien | $2.5M | Not disclosed | SOFR+475 bp | Mar 2, 2033 |
| E••••• M•••• 2• L•• ••• S•• W••••• F••• P••••••• | term loan first lien | $17.8M | Not disclosed | SOFR+475 bp | Mar 2, 2033 |
| B•••••• P•••••• C•• C•••••••• | term loan first lien | $22.9M | Not disclosed | SOFR+500 bp | Mar 19, 2031 |
| A•••••• L•• P••••••••• S••••••s | term loan first lien | $1.9M | Not disclosed | SOFR+475 bp | Apr 25, 2033 |
| A••••••• C•••••• T••••••••• I••• A•••••••• & D•••••• | term loan first lien | $3.8M | Not disclosed | SOFR+450 bp | Feb 27, 2033 |
| O••••• A••••••••• I••• ••• O••••••••• S••••••• | term loan first lien | $2.8M | Not disclosed | SOFR+475 bp | Apr 1, 2033 |
| A•••••• L•• P••••••••• S••••••s | term loan first lien | $563,000 | Not disclosed | SOFR+475 bp | Apr 25, 2033 |
| T•••• A••••••••• L•• ••• S•••• I••••••••• W••••••• T••••••••• S••••••s | term loan second lien | $16.2M | Not disclosed | SOFR+525 bp | May 1, 2034 |
| A• S•••••••• I••• ••• R••••••• I••••••••) | term loan first lien | $19.4M | Not disclosed | SOFR+450 bp | Jul 24, 2033 |
| B•••••• P•••••• C•• C•••••••• | term loan first lien | $2.5M | Not disclosed | SOFR+500 bp | Mar 19, 2031 |
| S••••• C•• W•••• I••• D••••••••• C••••••• S••••••s | term loan first lien | $4.8M | Not disclosed n/a | SOFR+500 bp | Mar 17, 2032 |
| A•••••• L•• P••••••••• S••••••s | term loan first lien | $300,000 | Not disclosed | SOFR+475 bp | Apr 25, 2033 |
| A• S•••••••• I••• ••• R••••••• I••••••••) | term loan first lien | $2.3M | Not disclosed | SOFR+450 bp | Jul 24, 2032 |
| O••••• A••••••••• I••• ••• O••••••••• S••••••• | term loan first lien | $6.7M | Not disclosed | SOFR+475 bp | Apr 1, 2033 |
| O••••• A••••••••• I••• ••• O••••••••• S••••••• | term loan first lien | $15.6M | Not disclosed | SOFR+475 bp | Apr 1, 2033 |
| E••••• M•••• 2• L•• ••• S•• W••••• F••• P••••••• | term loan first lien | $6.1M | Not disclosed | SOFR+475 bp | Mar 2, 2033 |
| A••••••• C•••••• T••••••••• I••• A•••••••• & D•••••• | term loan first lien | $19.3M | Not disclosed | SOFR+450 bp | Feb 27, 2033 |
| A••••••• I••• Air F•••••• & L•••••••• | term loan first lien | $28.0M | Not disclosed | SOFR+475 bp | Dec 31, 2032 |
Page 2 of 2Previous
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