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S• I••••••••• F••• I• L••

Business development companymanaged by M• C•••••• P••••••• A•••••• I•••Non-traded· NEW YORK, NY

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.

Fair value
$723M
Schedule of investments, 10-Q and 10-K
Borrowers
97
Schedule of investments, 10-Q and 10-K
Mark on cost
99.3¢
Schedule of investments, 10-Q and 10-K
First lien
100%
Schedule of investments, 10-Q and 10-K
Schedule of investments (372)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. 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
  2. 87 → 97
    borrowers

    Added a net 10 borrowers in the quarter to Jun 30, 2026, to 97.

    Q2 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
  3. $407M → $723M
    fair 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.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 2028686 · file 814-01754Show
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
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$723M9799c14486 bp
Mar 31, 2026$654M87100c13482 bp
Dec 31, 2025$583M80100c5479 bp
Sep 30, 2025$454M64100c5483 bp
All 7 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$407M60101c5488 bp
Mar 31, 2025$349M52100c5493 bp
Dec 31, 2024$624M45101c4493 bp
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Dec 31, 2025
423 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
S•••• B••••• L••revolver first lienNot disclosedNot disclosedS+525 bp
T•••••• T••••••••• L••delayed draw term loan first lienNot disclosedNot disclosedS+500 bp
V•••• P•••••• S••••••••• L••revolver first lienNot disclosedNot disclosedS+475 bp
V•••• P••••••••• L••revolver first lienNot disclosedNot disclosedS+550 bp
U••••••• I•••delayed draw term loan first lienNot disclosedNot disclosedS+500 bp
I•••••• 3••• L••revolver first lienNot disclosedNot disclosedS+475 bp
T• P•••••• B••••• I•••delayed draw term loan first lienNot disclosedNot disclosedS+450 bp
R••••••• P•••••• L••delayed draw term loan first lienNot disclosedNot disclosedS+425 bp
N•• H•••••••• I•••revolver first lienNot disclosedNot disclosed
I•••••• M••• L••delayed draw term loan first lienNot disclosedNot disclosed
M•• C•••••• M••••••••• I••••••••• L••delayed draw term loan first lienNot disclosedNot disclosed
L•• B•••••••• L••revolver first lienNot disclosedNot disclosed
I••••••••• I•••delayed draw term loan first lienNot disclosedNot disclosedS+450 bp
E••••••• I•••revolver first lienNot disclosedNot disclosedS+425 bp
C••••• P•••••••• L••revolver first lienNot disclosedNot disclosedS+450 bp
C••••• P•••••••• L••delayed draw term loan first lienNot disclosedNot disclosedS+450 bp
C••• L••••••• H•••••••• I•••revolver first lienNot disclosedNot disclosedS+475 bp
B••••• S••••••• H•••••••• L••revolver first lienNot disclosedNot disclosedS+550 bp
D••••••• C•••••••••delayed draw term loan first lienNot disclosedNot disclosedS+500 bp
H••• S••••• B••••• I•••delayed draw term loan first lienNot disclosedNot disclosedS+450 bp
U••••••• I•••revolver first lienNot disclosedNot disclosedS+500 bp
N•• G••••• H••••••• I•••delayed draw term loan first lienNot disclosedNot disclosedS+450 bp
M•• S•••••••• L••revolver first lienNot disclosedNot disclosedS+475 bp
Page 5 of 5Previous
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