DFX Intelligence
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S• I••••••••• F••• I• L••
A non-traded business development company, managed by M• C•••••• P••••••• A•••••• I•••, holding $723M across 97 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
- $723M
- Borrowers
- 97
- Mark on cost
- 99.3¢
- First lien
- 100%
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
- 2 below 80¢$38K principal
2 positions across 2 borrowers marked below 80¢ on cost, $38K principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 87 → 97borrowers
Added a net 10 borrowers in the quarter to Jun 30, 2026, to 97.
Q2 2026 · The book is turning over faster than usual.
- $407M → $723Mfair value, 4 quarters
Its portfolio grew 78% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 2028686 · file 814-01754ShowHide
Fair value
$723M
as of Jun 30, 2026
Principal held
$733M
debt pieces, the filer's figure
Cost
$728M
99c on cost, debt pieces
Unfunded
$203M
commitments not yet drawn
Positions
372
97 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
7
since Dec 31, 2024
Facilities held
234
19 sponsors financed
Portfolio through time
Fair value by quarter end$723M as of Jun 30, 2026
Dec 31, 2024$624M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $723M | 97 | 99c | 14 | 486 bp |
| Mar 31, 2026 | $654M | 87 | 100c | 13 | 482 bp |
| Dec 31, 2025 | $583M | 80 | 100c | 5 | 479 bp |
| Sep 30, 2025 | $454M | 64 | 100c | 5 | 483 bp |
All 7 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $407M | 60 | 101c | 5 | 488 bp |
| Mar 31, 2025 | $349M | 52 | 100c | 5 | 493 bp |
| Dec 31, 2024 | $624M | 45 | 101c | 4 | 493 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
Largest facilities held, with co-lenders
- A••••••••• I•• first lien term loan9 BDCs hold it · matures Jul 14, 2031 · possible sponsor H•$23.7M 98c
- M•• S••••••• L•• first lien term loan31 BDCs hold it · matures Feb 29, 2028$19.3M 100c
- M•••••••• L• first lien term loan10 BDCs hold it · matures Sep 30, 2032 · possible sponsor T••• W••• C•••••• M••••••••• L•••$18.4M 101c
- V•••••• P••••••••• L•• first lien term loan18 BDCs hold it · matures Dec 23, 2032 · possible sponsor W•••••• P••••• L••$18.4M 101c
- I•••••••• M•••••••• A••••••••• L•• first lien term loan35 BDCs hold it · matures Aug 31, 2028 · possible sponsor S••••• L••• T••••••••• M••••••••• L••$17.5M 100c
- A••• S•••••• P•••••••• L•• first lien term loan26 BDCs hold it · matures Oct 24, 2030 · possible sponsor A••••• I••••••••$16.9M 101c
- F••••• I•• first lien term loan12 BDCs hold it · matures Mar 31, 2033$16.3M 100c
- N••••• C••••••••• O•••• I•• first lien term loan1 BDC hold it · matures Jan 27, 2032$14.9M 101c
- D••••••• C••••••••• E••••••• I•• first lien term loan1 BDC hold it · matures May 28, 2032$14.7M 100c
- T• P•••••• B••••• I•• first lien term loan6 BDCs hold it · matures Dec 12, 2032$14.6M 99c
- P••••• H••••• I••••••••• H•••••••• I•• first lien term loan14 BDCs hold it · matures Jun 3, 2030$14.6M 100c
- T••••• B••••• I•• first lien term loan6 BDCs hold it · matures Feb 2, 2032$14.2M 96c
Schedule of investments at Jun 30, 2025
249 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A••• S•••••• P•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| A••••• A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| E••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+425 bp | |
| A••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| C•••• R•••• a•• I••••• C••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| D• B•••••• C•••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| D• B•••••• C•••• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| G••••••• S•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| H•• H••• A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| G•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+575 bp | |
| E••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+425 bp | |
| B••••••••• T••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| V••••• M•••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| B••••• S••••••• H•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | |
| T•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•••• I••••••••• H•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| C••• L••••••• H•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| U•• A•••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| P••••••••• F••• • S•••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| A••••• A••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| E••••••••• H•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| I•••••••• M•••••••• A••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| T••••• B••••• I••• •••••• N•••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| R••••••• P•••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| S••••• B•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+600 bp | |
| R•••• T•••• U• B••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| I••••••••• O•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| N••••• C••••••••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| M•• S•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| M•••• N• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| N•• G••••• H••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| P•••••• P••••• B••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | |
| R••••••• P•••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| T••••• B••••• I••• •••••• N•••••••• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| I••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| I••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| E•••••••• S••••••• H•••••• C••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| D••••••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| B••••• S••••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | |
| P••••••••• F••• • S•••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| G••••••• S•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| A•• H•••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| M•• S•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+475 bp | |
| P•• P••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | |
| R•••• T•••• U• B••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| U•• A•••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| E•••••••• S••••••• H•••••• C••••••••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| N•• G••••• H••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+450 bp |
Page 3 of 3Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2025 to 2026reported
- Filings listed
- 7reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-346866reported