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.

BDC portfolio

Aps BDC, LLC

BDCnon-tradedCIK 2083477file 814-01953NEW YORK, NYmanaged by OHA PRIVATE CREDIT ADVISORS II, L.P.

Fair value

$2.1B

as of Jun 30, 2026

Principal held

$2.3B

debt pieces, the filer's figure

Cost

$2.1B

99c on cost

Unfunded

$105M

commitments not yet drawn

Positions

196

56 borrowers

First lien

n/a

100% debt by fair value

Quarters on the tape

since Mar 31, 2026

Facilities held

16 sponsors financed

Portfolio through time

Fair value by quarter end$2.1B as of Jun 30, 2026

Mar 31, 2026$1.8B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$2.1B	56	99c	9	537 bp
Mar 31, 2026	$1.8B	53	99c	8	534 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
APS BDC, LLC joins AVSC Holding Corp other (unknown) held by 7 other BDCs
New lender joined a facilityJun 30, 2026
APS BDC, LLC joins Minotaur Acquisition, Inc other (unknown) held by 6 other BDCs
New lender joined a facilityJun 30, 2026
APS BDC, LLC joins GI Apple Midco LLC other (unknown) held by 3 other BDCs
Marked down (one lender)Jun 30, 2026
APS BDC, LLC: fair value markdown in BVI Medical, Inc (95 to 84 cents on cost)
Spread increasedJun 30, 2026
APS BDC, LLC: spread increased in NCWS Intermediate, Inc (5.50% to 7.50%)
PIK interest appearsJun 30, 2026
APS BDC, LLC: pik added in PDI TA Holdings, Inc (0.00% to 2.50%)
PIK interest appearsJun 30, 2026
APS BDC, LLC: pik added in GovDelivery Holdings, LLC (0.00% to 2.25%)
New lender joined a facilityJun 30, 2026
APS BDC, LLC joins AVSC Holding Corp revolver (unknown) held by 3 other BDCs
New lender joined a facilityJun 30, 2026
APS BDC, LLC joins Minotaur Acquisition, Inc revolver (unknown) held by 4 other BDCs
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Denali Midco 2, LLC other after 2026-03-31; 4 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Blazing Star Shields Direct Parent, LLC other after 2026-03-31; 1 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Digicert, Inc other after 2026-03-31; 5 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds CF Newco, Inc other after 2026-03-31; 1 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Navex Global Holdings Corporation other after 2026-03-31; 5 BDC(s) still hold it
New borrower on a BDC scheduleMar 31, 2026
Quality Collision Group, LLC first appears in a BDC schedule (3 lenders)
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Baker Tilly Advisory Group, LP other after 2026-03-31; 3 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Hyland Software, Inc other after 2026-03-31; 2 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds PT Intermediate Holdings III, LLC other after 2026-03-31; 1 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds Mammoth Holdings, LLC other after 2026-03-31; 1 BDC(s) still hold it
Lender left a facilityMar 31, 2026
APS BDC, LLC no longer holds MAI Capital Management Intermediate, LLC other after 2026-03-31; 7 BDC(s) still hold it

Every position change, including routine ones

Largest facilities held, with co-lenders

Denali Midco 2, LLC revolver
6 BDCs hold it · matures Aug 26, 2032 · Clearlake Capital Group, L.P.
$261M 99c
Gainwell Acquisition Corp other
7 BDCs hold it · matures Oct 2, 2028 · Veritas Capital Fund Management, L.L.C.
$234M 101c
AVSC Holding Corp other
8 BDCs hold it · matures Dec 5, 2031
$150M 100c
Polaris Newco, LLC other
7 BDCs hold it · matures Jun 2, 2028 · Novacap Management Inc.
$149M 97c
Starlight Parent, LLC other
3 BDCs hold it · matures Apr 18, 2033 · Turn/river Management, L.P.
$147M 88c
Blazing Star Shields Direct Parent, LLC revolver
1 BDC hold it · matures Aug 28, 2030 · Sycamore Partners
$104M 102c
Truck-Lite Co., LLC other
11 BDCs hold it · matures Feb 13, 2032
$100M 100c
Minotaur Acquisition, Inc other
7 BDCs hold it · matures May 10, 2030 · Parthenon Capital Partners
$99.7M 100c
USIC Holdings, Inc other
14 BDCs hold it · matures Sep 10, 2031
$97.8M 101c
Digicert, Inc revolver
2 BDCs hold it · matures Jul 30, 2030 · Crosspoint Capital Partners, LP
$94.4M 98c
Shape Technologies Group, Inc other
1 BDC hold it · matures Sep 6, 2030
$89.4M 101c
BVI Medical, Inc other
3 BDCs hold it · matures Mar 7, 2032
$79.0M 84c

Schedule of investments at Jun 30, 2026

196 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
Denali Intermediate Holdings, Inc	revolver lien unstated	$147M	$144M 99c	S+550 bp	Aug 26, 2032
AVSC Holding Corp.	unstated lien unstated	$135M	$133M 100c	S+500 bp	Dec 5, 2031
Polaris Newco LLC	unstated lien unstated	$149M	$130M 97c	S+400 bp	Jun 2, 2028
Blazing Star Shields Direct Parent, LLC	revolver lien unstated	$100M	$100M 102c	S+600 bp	Aug 28, 2030
Denali Intermediate Holdings, Inc	revolver lien unstated	$101M	$99.3M 100c	S+550 bp	Aug 26, 2032
Gainwell Acquisition Corp	unstated lien unstated	$99.5M	$98.1M 102c	S+400 bp	Oct 1, 2027
Gainwell Acquisition Corp	unstated lien unstated	$93.0M	$91.1M 101c	S+800 bp	Oct 2, 2028
Shape Technologies Group, Inc.	unstated lien unstated	$89.4M	$87.4M 101c	S+725 bp PIK 3.00%	Sep 6, 2030
DigiCert Inc	revolver lien unstated	$88.2M	$85.3M 98c	S+575 bp	Jul 10, 2030
Starlight Parent, LLC	unstated lien unstated	$99.5M	$83.6M 90c	S+400 bp	Apr 16, 2032
USIC Holdings, Inc	unstated lien unstated	$63.3M	$63.0M 101c	S+550 bp	Sep 10, 2031
BVI Medical, Inc.	unstated lien unstated	$70.7M	$59.3M 85c	S+625 bp PIK 5.00%	Mar 7, 2032
Minotaur Acquisition, Inc	unstated lien unstated	$58.7M	$58.6M 100c	S+500 bp	May 10, 2030
Navex Topco, Inc	revolver lien unstated	$58.1M	$58.0M 100c	S+500 bp	Oct 14, 2032
Cambium Learning Group, Inc.	unstated lien unstated	$56.3M	$54.2M 96c	S+550 bp	Jul 20, 2028
Truck-Lite Co, LLC	unstated lien unstated	$51.6M	$51.3M 99c	S+475 bp	Feb 13, 2032
LOCI Bidco Limited	unstated lien unstated	$50.0M	$48.3M 98c	S+498 bp	May 14, 2031
CF Newco, Inc	revolver lien unstated	$39.9M	$39.0M 98c	S+600 bp	Dec 10, 2029
Starlight Parent, LLC	unstated lien unstated	$47.5M	$38.6M 84c	S+600 bp	Apr 18, 2033
Gainwell Acquisition Corp	unstated lien unstated	$38.5M	$38.0M 100c	S+400 bp	Oct 1, 2027
OD Intermediate Subi Holdco II LLC	unstated lien unstated	$33.3M	$33.3M 100c	S+1250 bp	Feb 25, 2029
Associations, Inc.	unstated lien unstated	$29.0M	$29.0M 101c	S+650 bp	Jul 3, 2028
CF Newco, Inc	revolver lien unstated	$25.6M	$25.0M 99c	S+625 bp	Dec 10, 2029
Wheels Bidco, Inc	unstated lien unstated	$25.0M	$25.0M 100c	S+525 bp	Oct 31, 2031
Truck-Lite Co, LLC	unstated lien unstated	$22.4M	$22.3M 100c	S+475 bp	Feb 13, 2032
Wheels Bidco, Inc	unstated lien unstated	$19.4M	$19.4M 101c	S+525 bp	Oct 31, 2031
USIC Holdings, Inc	unstated lien unstated	$19.0M	$18.9M 100c	S+550 bp	Sep 10, 2031
Quality Collision Group LLC	unstated lien unstated	$16.5M	$16.4M 101c	S+550 bp	Mar 30, 2033
Hyland Software, Inc	revolver lien unstated	$15.7M	$15.7M 100c	S+475 bp	Sep 19, 2030
Minotaur Acquisition, Inc	unstated lien unstated	$15.5M	$15.4M 100c	S+500 bp	May 10, 2030
Shelf Bidco Ltd.	unstated lien unstated	$15.4M	$15.4M 100c	S+475 bp	Aug 21, 2031
Baker Tilly Advisory Group, LP	revolver lien unstated	$15.1M	$15.1M 100c	S+475 bp	Jun 3, 2031
Greenway Health, LLC	unstated lien unstated	$14.9M	$14.9M 100c	S+675 bp	Apr 2, 2029
NCWS Intermediate, Inc.	unstated lien unstated	$15.3M	$14.2M 96c	S+750 bp PIK 2.25%	Dec 31, 2029
Everbridge Holdings, LLC	unstated lien unstated	$12.6M	$12.6M 100c	S+500 bp	Jul 2, 2031
Minotaur Acquisition, Inc	unstated lien unstated	$10.0M	$9.9M 100c	S+500 bp	May 10, 2030
Poly-Wood LLC	revolver lien unstated	$9.4M	$9.3M 100c	S+488 bp	Mar 20, 2030
Minotaur Acquisition, Inc	unstated lien unstated	$9.4M	$9.3M 100c	S+500 bp	May 10, 2030
KAWP Acquisition, Inc	unstated lien unstated	$9.4M	$9.3M 100c	S+591 bp PIK 3.28%	Dec 22, 2032
PT Intermediate Holdings III, LLC	delayed draw term loan lien unstated	$8.1M	$8.1M 101c	S+475 bp	Apr 9, 2030
PDI TA Holdings, Inc	revolver lien unstated	$7.9M	$7.6M 98c	S+600 bp PIK 2.50%	Feb 3, 2031
USIC Holdings, Inc	unstated lien unstated	$8.2M	$7.3M 101c	S+525 bp	Sep 10, 2031
TEI Intermediate LLC	unstated lien unstated	$7.2M	$7.2M 100c	S+525 bp PIK 2.88%	Dec 15, 2031
STV Group, Incorporated	unstated lien unstated	$7.1M	$7.1M 100c	S+475 bp	Mar 20, 2031
Coding Solutions Acquisition, Inc.	unstated lien unstated	$6.8M	$6.7M 100c	S+500 bp	Aug 7, 2031
Mammoth Holdings, LLC	revolver lien unstated	$6.6M	$6.4M 98c	S+600 bp	Nov 15, 2030
Jensen Hughes, Inc.	unstated lien unstated	$6.3M	$6.3M 100c	S+475 bp	Sep 1, 2031
AI Titan Parent, Inc.	unstated lien unstated	$5.9M	$5.9M 100c	S+450 bp	Aug 29, 2031
Mountain Parent, Inc	unstated lien unstated	$5.7M	$5.7M 100c	S+475 bp	Jun 27, 2031
Integrity Marketing Acquisition, LLC	unstated lien unstated	$5.6M	$5.6M 100c	S+500 bp	Aug 25, 2028
Navex Topco, Inc	revolver lien unstated	$5.6M	$5.6M 100c	S+500 bp	Oct 14, 2032
THG Acquisition, LLC	unstated lien unstated	$5.3M	$5.3M 100c	S+475 bp	Oct 31, 2031
NextGen Healthcare, Inc.	revolver lien unstated	$5.2M	$5.2M 100c	S+525 bp	Nov 12, 2030
Rimkus Consulting Group, Inc	unstated lien unstated	$5.0M	$4.9M 99c	S+525 bp	Apr 1, 2031
Cliffwater LLC	revolver lien unstated	$4.7M	$4.6M 100c	S+450 bp	Apr 22, 2032
Mercury Merger Sub 1 LLC	unstated lien unstated	$4.5M	$4.5M 100c	S+575 bp	Dec 17, 2029
Truck-Lite Co, LLC	unstated lien unstated	$10.7M	$4.2M 100c	S+475 bp	Feb 13, 2032
GC Waves Holdings, Inc.	unstated lien unstated	$3.8M	$3.8M 100c	S+450 bp	Oct 4, 2030
FloWorks International LLC	unstated lien unstated	$3.8M	$3.8M 100c	S+475 bp	Nov 26, 2031
MHH Healthcare, L.P.	unstated lien unstated	$4.7M	$3.5M
Gainwell Acquisition Corp	unstated lien unstated	$3.5M	$3.4M 101c	S+800 bp	Oct 2, 2028
GovDelivery Holdings, LLC	revolver lien unstated	$3.4M	$3.4M 100c	S+575 bp PIK 2.25%	Jan 17, 2031
Associations, Inc.	unstated lien unstated	$3.3M	$3.3M 101c	S+650 bp	Jul 2, 2028
USIC Holdings, Inc	unstated lien unstated	$3.8M	$3.0M 101c	S+550 bp	Sep 10, 2031
Associations, Inc.	unstated lien unstated	$3.0M	$3.0M 101c	S+650 bp	Jul 2, 2028
BCPE HIPH Parent, Inc.	unstated lien unstated	$2.3M	$2.3M 101c	S+575 bp	Oct 7, 2030
USIC Holdings, Inc	unstated lien unstated	$2.5M	$2.2M 100c	S+525 bp	Sep 10, 2031
NRO Holdings III Corp	unstated lien unstated	$2.2M	$2.2M 100c	S+525 bp	Jul 15, 2031
Mai Capital Management Intermediate LLC	revolver lien unstated	$2.1M	$2.1M 100c	S+475 bp	Aug 29, 2031
CF Newco, Inc	revolver lien unstated	$6.5M	$2.1M 96c	S+600 bp	Dec 10, 2029
BCPE HIPH Parent, Inc.	unstated lien unstated	$2.1M	$2.1M 101c	S+575 bp	Oct 7, 2030
Saturn Sound Bidco Limited	delayed draw term loan lien unstated	$1.9M	$1.9M 100c	S+525 bp	Dec 3, 2031
GI Apple Intermediate Inc	unstated lien unstated	$1.9M	$1.9M 100c	S+675 bp	Apr 19, 2030
BVI Medical, Inc.	unstated lien unstated	$2.9M	$1.7M 80c	S+600 bp	Mar 5, 2032
ASP Meteor Acquisition Co LLC	unstated lien unstated	$1.7M	$1.7M 100c	S+575 bp	Sep 1, 2029
Evergreen IX Borrower 2023, LLC	unstated lien unstated	$1.7M	$1.7M 100c	S+475 bp	Sep 30, 2030
Denali Intermediate Holdings, Inc	revolver lien unstated	$10.2M	$1.6M 99c	S+550 bp	Aug 26, 2032
TEI Intermediate LLC	unstated lien unstated	$2.3M	$1.6M 101c	S+475 bp	Dec 15, 2031
Mammoth Holdings, LLC	revolver lien unstated	$1.7M	$1.6M 98c	S+600 bp	Nov 15, 2030
AVSC Holding Corp.	unstated lien unstated	$14.6M	$1.5M 100c	S+500 bp	Dec 5, 2029
GC Waves Holdings, Inc.	unstated lien unstated	$1.4M	$1.4M 100c	S+450 bp	Oct 4, 2030
Associations, Inc.	unstated lien unstated	$1.4M	$1.4M 100c	S+650 bp	Jul 3, 2028
Mai Capital Management Intermediate LLC	revolver lien unstated	$1.3M	$1.3M 101c	S+475 bp	Aug 29, 2031
Everbridge Holdings, LLC	unstated lien unstated	$3.2M	$1.2M 100c	S+500 bp	Jul 2, 2031
Associations, Inc.	unstated lien unstated	$2.3M	$1.2M 101c	S+650 bp	Jul 3, 2028
Truck-Lite Co, LLC	unstated lien unstated	$1.1M	$1.1M 99c	S+475 bp	Feb 13, 2032
Truck-Lite Co, LLC	unstated lien unstated	$1.1M	$1.1M 99c	S+475 bp	Feb 13, 2032
USIC Holdings, Inc	unstated lien unstated	$1.1M	$903,000 100c	S+550 bp	Sep 10, 2031
THG Acquisition, LLC	unstated lien unstated	$1.2M	$876,000 100c	S+475 bp	Oct 31, 2031
PDI TA Holdings, Inc	revolver lien unstated	$659,000	$629,000 98c	S+550 bp	Feb 3, 2031
Mountain Parent, Inc	unstated lien unstated	$590,000	$587,000 100c	S+475 bp	Jun 27, 2031
GovDelivery Holdings, LLC	revolver lien unstated	$507,000	$507,000 100c	S+525 bp PIK 2.25%	Jan 17, 2031
NRO Holdings III Corp	unstated lien unstated	$694,000	$497,000 101c	S+525 bp	Jul 15, 2031
NCWS Intermediate, Inc.	unstated lien unstated	$1.7M	$485,000 85c	S+525 bp	Dec 31, 2029
Truck-Lite Co, LLC	unstated lien unstated	$483,000	$480,000 100c	S+475 bp	Feb 13, 2032
FloWorks International LLC	unstated lien unstated	$476,000	$474,000 100c	S+475 bp	Nov 26, 2031
Denali Intermediate Holdings, Inc	revolver lien unstated	$2.7M	$436,000 91c	S+550 bp	Aug 26, 2032
NRO Holdings III Corp	unstated lien unstated	$469,000	$386,000 99c	S+525 bp	Jul 15, 2030
KAWP Acquisition, Inc	unstated lien unstated	$1.5M	$377,000 99c	S+525 bp	Dec 22, 2032
Rimkus Consulting Group, Inc	unstated lien unstated	$343,000	$339,000 99c	S+525 bp	Apr 1, 2031

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Registration

Fiscal year end: 1231reported
Incorporated: DEreported
On the SEC BDC report: 2026 to 2026reported
Filings listed: 2reported10-Q and 10-K since 2022
Latest schedule: 0002083477-26-000008reported