DFX Intelligence
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S•••• P•••• C••••• I••••• F•••
Business development companymanaged by S•••• P•••• C••••• I••••• A•••••• L••Non-traded· GREENWICH, CT
A non-traded business development company, managed by S•••• P•••• C••••• I••••• A•••••• L••, holding $790M across 114 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
- $790M
- Borrowers
- 114
- Mark on cost
- 99.2¢
- First lien
- 89%
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¢$5.09M principal
1 position across 1 borrower marked below 80¢ on cost, $5.09M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 103 → 114borrowers
Added a net 11 borrowers in the quarter to Jun 30, 2026, to 114.
Q2 2026 · The book is turning over faster than usual.
- $348M → $790Mfair value, 4 quarters
Its portfolio grew 127% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 2031283 · file 814-01783ShowHide
Fair value
$790M
as of Jun 30, 2026
Principal held
$799M
debt pieces, the filer's figure
Cost
$793M
99c on cost, debt pieces
Unfunded
$233M
commitments not yet drawn
Positions
315
114 borrowers
First lien
89%
99% debt by fair value
Quarters on the tape
7
since Dec 31, 2024
Facilities held
225
17 sponsors financed
Portfolio through time
Fair value by quarter end$790M as of Jun 30, 2026
Dec 31, 2024$0 then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $790M | 114 | 99c | 9 | 490 bp |
| Mar 31, 2026 | $718M | 103 | 99c | 8 | 490 bp |
| Dec 31, 2025 | $600M | 106 | 100c | 11 | 493 bp |
| Sep 30, 2025 | $433M | 81 | 100c | 0 | 497 bp |
All 8 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $348M | 67 | 100c | 0 | 500 bp |
| Mar 31, 2025 | $268M | 52 | 100c | 0 | 510 bp |
| Jan 21, 2025 | $0 | 1 | n/a | 0 | n/a |
| Dec 31, 2024 | $0 | 55 | n/a | 0 | n/a |
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
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 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
- New lender joined a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
Largest facilities held, with co-lenders
- W•••• S••••• R•••••• A••••••••• L•• first lien term loan6 BDCs hold it · matures Sep 16, 2032$22.3M 100c
- B•••••• B••••• I•• first lien term loan2 BDCs hold it · matures Mar 8, 2030$21.5M 100c
- T••••• I••••••••• H•••••••• L•• first lien delayed draw term loan2 BDCs hold it · matures Oct 2, 2028$18.0M 100c
- A•••••••• P••••••• L•• first lien term loan10 BDCs hold it · matures Nov 17, 2031$16.3M 100c
- S••••••• B•••••••• I••• L•• first lien term loan3 BDCs hold it · matures May 27, 2033$15.6M 100c
- F••••• I•• first lien term loan12 BDCs hold it · matures Mar 31, 2033$14.8M 100c
- M••••••• A••••••••• I•• first lien term loan14 BDCs hold it · matures Jun 3, 2030 · possible sponsor P•••••••• C•••••• P•••••••$13.9M 100c
- P••••• C••••••••• unsecured or subordinated notes2 BDCs hold it · matures Oct 28, 2030$13.8M 96c
- F••• T•••••• H••••••• L•• first lien term loan3 BDCs hold it · matures Oct 29, 2031$13.6M 100c
- C••••••••• L•• first lien term loan12 BDCs hold it · matures Apr 22, 2032 · possible sponsor T• A•••••••••$13.3M 100c
- A•••• A••••••• G••••• L•• first lien delayed draw term loan12 BDCs hold it · matures Aug 1, 2031$13.2M 99c
- A••••• I••••••••• H•••••••• L•• first lien delayed draw term loan4 BDCs hold it · matures May 28, 2027$13.1M 100c
Schedule of investments at Mar 31, 2025
163 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C•••••• G••••• L•• | revolver first lien | $0 | -$2,413 | S+450 bp | Sep 17, 2031 |
| D••••••• C••••••••• | revolver first lien | $0 | -$2,580 | S+500 bp | Aug 6, 2030 |
| A••••• B••••••• C•••••• T•••••• L•• | revolver first lien | $0 | -$3,429 | S+500 bp | Jul 2, 2031 |
| B•••• T•••• A••••••• G••••• L••• | delayed draw term loan first lien | $0 | -$3,593 | S+475 bp | Jun 3, 2026 |
| V•••• C••• B•••• L•• | revolver first lien | $0 | -$4,063 | S+450 bp | Jul 30, 2031 |
| F••••••••• R••• P•••••••• C•••• | revolver first lien | $0 | -$4,496 | S+500 bp | Oct 29, 2029 |
| C•••••• G••••• L•• | delayed draw term loan first lien | $0 | -$4,825 | S+450 bp | Sep 17, 2026 |
| B•••• T•••• A••••••• G••••• L••• | revolver first lien | $0 | -$5,035 | S+475 bp | Jun 3, 2030 |
| A•••••••• H••••••• L•• | revolver first lien | $0 | -$6,542 145c | S+500 bp | Aug 31, 2028 |
| A•••••••• H••••••• L•• | delayed draw term loan first lien | $0 | -$7,080 201c | S+500 bp | Aug 31, 2029 |
| T•••• H••• I••••••••• L•• | revolver first lien | $0 | -$7,122 | S+575 bp | May 31, 2030 |
| T•••• H••• I••••••••• L•• | delayed draw term loan first lien | $0 | -$8,547 | S+575 bp | Jun 2, 2026 |
| o•••••• F•••••••• S••••••• L•• | revolver first lien | $0 | -$10,168 | S+500 bp | Oct 7, 2031 |
| A•••••••• P••••••• L•• | revolver first lien | $0 | -$10,435 | S+525 bp | Nov 17, 2031 |
| D••••••• C••••••••• | delayed draw term loan first lien | $0 | -$10,676 | S+500 bp | Apr 30, 2026 |
| C••••••••• B•••• I••• | revolver first lien | $0 | -$14,160 112c | S+450 bp | Apr 2, 2031 |
| R•• N••• P••••••••• L•• | revolver first lien | $0 | -$19,590 101c | S+500 bp | Mar 19, 2032 |
| W•••• I•••••••• A••••••••• L•• | delayed draw term loan first lien | $0 | -$20,000 218c | S+500 bp | Aug 14, 2026 |
| R•••••• P••••••••• I••• | revolver first lien | $0 | -$21,648 101c | S+500 bp | Mar 3, 2031 |
| R•• N••• P••••••••• L•• | delayed draw term loan first lien | $0 | -$27,985 204c | S+500 bp | Mar 19, 2027 |
| R•••••• S••••••• G••••• L•• | delayed draw term loan first lien | $0 | -$29,553 | S+525 bp | Jan 3, 2027 |
| C••••••••• B•••• I••• | delayed draw term loan first lien | $0 | -$30,504 211c | S+450 bp | Aug 14, 2027 |
| T••••• I••••••••• H•••••••• L•• | delayed draw term loan first lien | $0 | -$34,839 | S+500 bp | Oct 2, 2028 |
| P•• P••••• I••• | delayed draw term loan first lien | $0 | -$36,000 | S+475 bp | Jun 26, 2026 |
| R•••••• P••••••••• I••• | delayed draw term loan first lien | $0 | -$45,962 207c | S+500 bp | Mar 3, 2027 |
| C••••••• B••••• I•• | delayed draw term loan first lien | $0 | -$62,500 105c | S+550 bp | Feb 26, 2027 |
| A••••• I••••••••• H•••••••• L•• | delayed draw term loan first lien | $23,809 | -$76,191 590c | S+525 bp | Oct 28, 2026 |
| o•••••• F•••••••• S••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| C•••••• G••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| A••••• I••••••••• H•••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+525 bp | |
| F••••••••• R••• P•••••••• C•••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+500 bp | |
| G••••• B••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| M••• C•••••• I• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| V•••• C••• B•••• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| A•••••••• H••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| D••••••• C••••••••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| T•••• H••• I••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+575 bp | |
| R•• N••• P••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| P•• P••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| K••• A••••••••• I••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+575 bp | |
| G••••• B••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+450 bp | |
| A•••••••• R••••••••• M••••••••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| S••••••• A• B••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+525 bp | |
| T••••• I••••••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| C••••••••• B•••• I••• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| G••••••••• H••••••• I•• | revolver first lien | Not disclosed | Not disclosed | S+425 bp | |
| T•• A••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| A•••••••• S••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+525 bp | |
| F••••••••• R••• P•••••••• C•••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| A•••• I•••••••• S••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+525 bp | |
| A••••• B••••••• C•••••• T•••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| B•••••• B••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+650 bp | |
| M•• C•••••• M••••••••• I••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| B•••••• B••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+575 bp | |
| H••• I••••••••• I•• L•• | revolver first lien | Not disclosed | Not disclosed | S+450 bp | |
| M•• D••••• S••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+550 bp | |
| M•• D••••• S••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+550 bp | |
| P•••• B•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+575 bp | |
| T••••• I••••••••• H•••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| W•••• I•••••••• A••••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| R•••••• P••••••••• I••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | |
| B•••• T•••• A••••••• G••••• L••• | revolver first lien | Not disclosed | Not disclosed | S+475 bp | |
| A•••••••• P••••••• L•• | revolver first lien | Not disclosed | Not disclosed | S+525 bp |
Page 2 of 2Previous
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
- 0002031283-26-000012reported