DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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BDC portfolio
N•• M••••••• P•••••• C••••• F•••
Fair value
$1.8B
as of Jun 30, 2026
Principal held
$2.1B
debt pieces, the filer's figure
Cost
$1.9B
97c on cost
Unfunded
n/a
commitments not yet drawn
Positions
368
126 borrowers
First lien
85%
95% debt by fair value
Quarters on the tape
8
since Dec 31, 2023
Facilities held
143
35 sponsors financed
Portfolio through time
Fair value by quarter end$1.8B as of Jun 30, 2026
Dec 31, 2023$2.0B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $1.8B | 126 | 98c | 32 | 487 bp |
| Mar 31, 2026 | $2.0B | 129 | 98c | 35 | 491 bp |
| Dec 31, 2025 | $4.1B | 129 | 99c | 68 | 493 bp |
| Sep 30, 2025 | $1.6B | 110 | 96c | 36 | 503 bp |
| Jun 30, 2025 | $1.5B | 98 | 97c | 29 | 515 bp |
| Mar 31, 2025 | $1.6B | 91 | 98c | 30 | 527 bp |
| Dec 31, 2024 | $3.2B | 78 | 98c | 54 | 544 bp |
| Dec 31, 2023 | $2.0B | 99 | 98c | 32 | 581 bp |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity shortened (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
Largest facilities held, with co-lenders
- D••••• T••• H•••••••• L•• preferred equity3 BDCs hold it · T• A•••••••••$96.9M 103c
- N•••••• term loan1 BDC hold it$68.0M 100c
- I• I••••••••• H•••••••• L•• first lien term loan26 BDCs hold it · matures Dec 1, 2029 · D••••••• C•••••• M••••••••• L•••$55.3M 100c
- M••• B•••• L•• first lien term loan8 BDCs hold it · matures Dec 22, 2031$55.2M 104c
- C••••• B••••• I•• first lien term loan3 BDCs hold it · matures Dec 1, 2028$52.6M 83c
- G• A••••••••• I•• first lien term loan31 BDCs hold it · matures May 25, 2028 · G•••••• C••••••$45.7M 94c
- L•••• S•••• H•••••••• L•• first lien term loan6 BDCs hold it · matures May 1, 2029$42.2M 100c
- A•• T••••• L•• first lien term loan15 BDCs hold it · matures Dec 31, 2027 · B•••••• P•••• C•••••• A•••••••• L••$41.6M 100c
- O••••••••• L•• first lien term loan27 BDCs hold it · matures Dec 23, 2032 · F•••••••• P•••••••$41.3M 98c
- B••••••••• I•• first lien term loan18 BDCs hold it · matures Dec 3, 2032$41.2M 100c
- P••• C••• first lien term loan14 BDCs hold it · matures Dec 20, 2032$41.0M 100c
- A••••••• I•• first lien term loan27 BDCs hold it · matures Jun 21, 2029$40.6M 99c
Schedule of investments at Jun 30, 2026
368 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| T•• U•••••• G•••• M••••• L•• | term loan first lien | $719,000 | $-4,000 133c | Jul 1, 2032 | |
| M••• B•••• L•• | term loan first lien | $898,000 | $-4,000 | Dec 1, 2031 | |
| A••••••• B••••• I••. | term loan first lien | $888,000 | $-4,000 100c | Dec 1, 2032 | |
| L•• V•••••• H••••••• I••. | term loan first lien | $1.0M | $-4,000 50c | Apr 1, 2032 | |
| L•• V•••••• H••••••• I••. | term loan first lien | $1.4M | $-5,000 167c | Oct 1, 2027 | |
| W••••• G•••• L•• | term loan first lien | $1.1M | $-5,000 | Sep 1, 2027 | |
| W••••• G•••• L•• | term loan first lien | $1.1M | $-5,000 100c | Sep 1, 2031 | |
| P•••••••• C••••••••• M••••• I••. | term loan first lien | $910,000 | $-5,000 125c | Oct 1, 2032 | |
| D•••••••• I••. | term loan first lien | $706,000 | $-5,000 125c | Jul 1, 2030 | |
| A•••• A• B•••• P•• L••. | term loan first lien | $325,000 | $-6,000 600c | Dec 1, 2028 | |
| K••• A••••••••• I••. | term loan first lien | $803,000 | $-6,000 | Jan 1, 2027 | |
| Y••• N•• S•• 2• L•• | term loan first lien | $2.8M | $-7,000 | Dec 1, 2027 | |
| J••••••• H•••••••• L•• | term loan first lien | $2.7M | $-7,000 100c | Nov 1, 2032 | |
| M••• B•••• L•• | term loan first lien | $1.4M | $-7,000 | Dec 1, 2027 | |
| L••••••••• B••••, Inc. | term loan first lien | $1.5M | $-8,000 100c | Dec 1, 2031 | |
| J••••••••• P•••••• I••. | term loan first lien | $1.5M | $-8,000 | Jan 1, 2033 | |
| J••••••••• P•••••• I••. | term loan first lien | $1.5M | $-8,000 114c | Jan 1, 2033 | |
| B••••••••• I••. | term loan first lien | $3.5M | $-9,000 113c | Dec 1, 2032 | |
| T•• U•••••• G•••• M••••• L•• | term loan first lien | $1.9M | $-10,000 | Jul 1, 2032 | |
| M••••••• B•••• I••.. | term loan first lien | $973,000 | $-10,000 500c | Dec 1, 2031 | |
| F•••••••• O••••••••• LLC | term loan first lien | $2.1M | $-10,000 | Aug 1, 2027 | |
| P••• C•••oration | term loan first lien | $4.4M | $-11,000 110c | Dec 1, 2032 | |
| V•••• P••••••••• L•• | term loan first lien | $2.9M | $-11,000 122c | May 1, 2028 | |
| N• T••••• L•• | term loan first lien | $1.1M | $-11,000 183c | Sep 1, 2031 | |
| B••••••••• I••. | term loan first lien | $4.9M | $-12,000 | Dec 1, 2027 | |
| M•• S••••••• L•• | term loan first lien | $692,000 | $-12,000 | Oct 1, 2027 | |
| M••••••• B•••• I••.. | term loan first lien | $1.2M | $-13,000 | Dec 1, 2027 | |
| P•••••••• C••••••••• M••••• I••. | term loan first lien | $2.7M | $-14,000 117c | Oct 1, 2032 | |
| S••••• B••••••• H••••••• L•• | term loan first lien | $2.4M | $-15,000 | Dec 1, 2032 | |
| B••••••• L•• | term loan first lien | $637,000 | $-15,000 | Mar 1, 2032 | |
| P••• C•••oration | term loan first lien | $6.5M | $-16,000 | Dec 1, 2028 | |
| A•••• B••••••• 2025, Inc. | term loan first lien | $1.1M | $-17,000 1700c | Oct 1, 2032 | |
| P•••••••• C••••••••• M••••• I••. | term loan first lien | $3.6M | $-18,000 | Oct 1, 2032 | |
| P•••••••• C••••••••• M••••• I••. | term loan first lien | $3.6M | $-18,000 | Oct 1, 2032 | |
| P•••••• C••••••••• | term loan first lien | $1.4M | $-18,000 | Oct 1, 2027 | |
| A•••••••• H•••••••• I••. | term loan first lien | $5.9M | $-20,000 | Jul 1, 2032 | |
| M••• H•••••••• L•• | term loan first lien | $977,000 | $-20,000 500c | Jul 1, 2032 | |
| V•••• B••••• I••. | term loan first lien | $1.0M | $-22,000 440c | Jan 1, 2032 | |
| B•••• T•••• A••••••• G••••• L• | term loan first lien | $1.4M | $-23,000 329c | Jun 1, 2030 | |
| T••••••••• I••.. | term loan first lien | $2.6M | $-26,000 289c | Aug 1, 2029 | |
| L•••• S•••• H•••••••• L•• (fka Bottomline Technologies, Inc.) | term loan first lien | $4.2M | $-31,000 238c | May 1, 2028 | |
| D•••••• B•••• | term loan first lien | $4.5M | $-31,000 | Oct 1, 2029 | |
| O••••••••• L•• | term loan first lien | $2.6M | $-36,000 | Dec 1, 2028 | |
| S••••• B••••••• H••••••• L•• | term loan first lien | $6.1M | $-39,000 | Dec 1, 2027 | |
| B••••••• L•• | term loan first lien | $1.7M | $-40,000 | Oct 1, 2027 | |
| H•••••• P•••••• I••. | term loan first lien | $638,000 | $-42,000 840c | Nov 1, 2029 | |
| O••••••••• L•• | term loan first lien | $3.3M | $-45,000 | Dec 1, 2032 | |
| M••• H•••••••• L•• | term loan first lien | $2.3M | $-46,000 | Jul 1, 2027 | |
| L••••••••• B••••, Inc. | term loan first lien | $9.7M | $-48,000 | Dec 1, 2028 | |
| E••••••• P•••••• I••. | term loan first lien | $2.8M | $-67,000 319c | Jan 1, 2031 | |
| A••••••• P••••••• M••••••••• I••. | term loan first lien | $1.2M | $-67,000 3350c | Feb 1, 2028 | |
| V•••• B••••• I••. | term loan first lien | $4.1M | $-88,000 | Feb 1, 2027 | |
| D••••••••• A••••••••• I••. | term loan first lien | $2.6M | $-102,000 | Sep 1, 2032 | |
| B•••• P••••• H•••••••• I••. | term loan first lien | $3.2M | $-105,000 2625c | Nov 1, 2030 | |
| i••••• I••. | term loan first lien | $1.8M | $-114,000 | Aug 1, 2028 | |
| V•••• B••••• I••. | term loan first lien | $7.4M | $-162,000 | Sep 1, 2027 | |
| D••••••••• A••••••••• I••. | term loan first lien | $5.7M | $-229,000 | Sep 1, 2027 | |
| P•••••••• C••••••••• M••••• I••. | term loan first lien | n/a | n/a | ||
| P•••••• B•••• I• L•• | term loan first lien | n/a | n/a | ||
| W••••• E••••••••• G••••• L•• | term loan first lien | $1.4M | n/a | Oct 1, 2028 | |
| K••• I••••••••• I• I••. | equity equity | $5.4M | n/a | ||
| M••• B•••• L•• | term loan first lien | n/a | n/a | ||
| S••••• B••••••• H••••••• L•• | term loan first lien | n/a | n/a | S+475 bp | Dec 1, 2032 |
| K••••••• I••••••••• H••••••• I• I•• | preferred equity equity | $8.5M | n/a | ||
| D•••••• B•••• | term loan first lien | n/a | n/a | ||
| D••••••• P•••••••• I•••••• I••. | preferred equity equity | $8.3M | n/a | ||
| D••••• T••• H•••••••• L•• | preferred equity equity | $48.5M | n/a | ||
| N•••••••• B••••, LLC | equity equity | $837,000 | n/a |
Page 4 of 4Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2025 to 2026reported
- Filings listed
- 7reported10-Q and 10-K since 2022
- Latest schedule
- 0002037804-26-000015reported