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R••• C•••••• C•••

Business development companymanaged by R••• C•••••• M•••••••••Listed: R•••· BUFFALO, NY

A business development company traded as R•••, managed by R••• C•••••• M•••••••••, holding $56.5M across 26 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$56.5M
Schedule of investments, 10-Q and 10-K
Borrowers
26
Schedule of investments, 10-Q and 10-K
Mark on cost
80.4¢
Schedule of investments, 10-Q and 10-K
First lien
1%
Schedule of investments, 10-Q and 10-K
Schedule of investments (95)Quarter by quarter
As of · the latest schedule of investments read for this BDC

What matters now

  1. $4.57M
    on non-accrual, 3 borrowers

    3 borrowers on non-accrual, $4.57M principal; the largest is A••••••••• • • ($2.28M).

    Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.

    FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen A••••••••• • • →
  2. $4.57M
    newly on non-accrual

    3 borrowers newly placed on non-accrual in Q2 2026, $4.57M principal: A••••••••• • • ($2.28M), 2• ($2.28M), B•• S•••••• H••••• ($0).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open A••••••••• • • →
  3. 78.8¢ → 80.4¢
    book mark on cost

    Marked its book up from 78.8¢ to 80.4¢ on the dollar in the quarter to Jun 30, 2026.

    Q2 2026 · The whole portfolio was marked up.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
  4. 23 → 25
    loans paying in kind

    Loans paying in kind rose from 23 to 25 positions in the quarter to Jun 30, 2026.

    Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.

    Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
Every headline figure, and the identifiersCIK 81955 · file 814-00235Show
Fair value
$56.5M
as of Jun 30, 2026
Principal held
$49.2M
debt pieces, the filer's figure
Cost
$67.5M
80c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
95
26 borrowers
First lien
1%
79% debt by fair value
Quarters on the tape
16
since Dec 31, 2021
Facilities held
47
0 sponsors financed
Portfolio through time
Fair value by quarter end$80.7M as of Jun 30, 2026
Dec 31, 2021$129M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$80.7M2680c25325 bp
Mar 31, 2026$76.5M2579c23325 bp
Dec 31, 2025$85.3M2980c29n/a
Sep 30, 2025$63.1M2382c30n/a
All 16 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$79.6M2390c27n/a
Mar 31, 2025$417M2691c29n/a
Dec 31, 2024$541M3493c37n/a
Sep 30, 2024$471M28100c32n/a
Jun 30, 2024$546M29100c28n/a
Mar 31, 2024$511M32100c26n/a
Dec 31, 2023$509M38100c22n/a
Sep 30, 2023$473M34100c15n/a
Jun 30, 2023$259M35100c13n/a
Mar 31, 2023$265M35100c13n/a
Dec 31, 2022$394M35100c12n/a
Dec 31, 2021$129M11n/a0n/a
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 Jun 30, 2023
138 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
B•• F••• S•••••• S••••• H•••••• L••unstated lien unstatedNot disclosedNot disclosed
B•• F••• S•••••• S••••• H•••••• L•• • •• 8••• 0•• T•••notes lien unstatedNot disclosedNot disclosedNov 22, 2027
D•• O••••••••• L•• • •• 0••• 2•• T•••notes lien unstatedNot disclosedNot disclosedSep 30, 2026
N••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
O••• E•••••••• I•• • 3••• 8•• C•••••unstated lien unstatedNot disclosedNot disclosed
n/a
I•• A••••••••• L•• • •• 2••• 8•• T•••notes lien unstatedNot disclosedNot disclosed12.00%
PIK 5.00%
R••••••• I••• • 5••• 4••preferred equity equityNot disclosedNot disclosed
n/a
F••••••••• A••••••••• U••• L•• • 2• 2••• 7•• T•••notes lien unstatedNot disclosedNot disclosed3.00%
F••••••••• A••••••••• U••• L•• • 2• 2••• 7•• T•••notes lien unstatedNot disclosedNot disclosed
D•• O••••••••• L•• • 1• 0••equity equityNot disclosedNot disclosed
P••••••• P••• I••• • •• 0••• 0•• T•••notes lien unstated$3.0MNot disclosed12.00%Jan 19, 2028
I•• A••••••••• L•• • 1• 1••preferred equity equityNot disclosedNot disclosed
n/a
I•• A••••••••• L•• • •• 2••• 8•• T•••notes lien unstated$2.3MNot disclosed12.00%Jun 21, 2026
F••••••••• A••••••••• U••• L•• • 6•••• s•••••equity equityNot disclosedNot disclosed
F••••••••• A••••••••• U••• L•• • •• 2••• 7•• T•••notes lien unstated$2.3MNot disclosed6.00%
A•••••• I••••• I•••warrants equityNot disclosedNot disclosed
R••••••• I•••unstated lien unstatedNot disclosedNot disclosed
n/a
D•• O••••••••• L••unstated lien unstatedNot disclosedNot disclosed
F••••••••• A••••••••• U••• L•• • •• 2••• 7•• T•••notes lien unstatedNot disclosedNot disclosed
N•• A••••• • 1•••unstated lien unstatedNot disclosedNot disclosed
R••••••• I••• • 5•• 5•• C•••••unstated lien unstatedNot disclosedNot disclosed
A•••••• I••••• I•••warrants equityNot disclosedNot disclosed
S•••••••• B•••••••• C••••••••• • •• 1••• 4•• T•••notes lien unstated$4.1MNot disclosed12.00%Jan 19, 2026
C•••••• a•• A•••••••• I•••••••••unstated lien unstatedNot disclosedNot disclosed
F••••••••• A••••••••• U••• L•• • •• 2••• 7•• T•••notes lien unstatedNot disclosedNot disclosed12.00%
L••••••••• I• E••••• O• O•••• A•••••unstated lien unstatedNot disclosedNot disclosed
T••••• T••••••••• M••••••••• I•••equity equityNot disclosedNot disclosed
T••••• T••••••••• M••••••••• I••• • •••• d••••••• p•••••• q••••••••unstated lien unstatedNot disclosedNot disclosed
K••• S•••••••• I••• • 9••• 5••preferred equity equityNot disclosedNot disclosed
n/a
C••••••• S•••• L•• • 6••••••equity equityNot disclosedNot disclosed
N•• a•••••unstated lien unstatedNot disclosedNot disclosed
F••••••••• A••••••••• U••• L•• D•• A••••••••• • •• 2••• 7•• T•••notes lien unstatedNot disclosedNot disclosed3.00%
PIK 11.00%
Jun 30, 2023
C•••••• I••••••••• • 6••• o• n•• a•••••unstated lien unstatedNot disclosedNot disclosed
N•• a•••••unstated lien unstatedNot disclosedNot disclosed
B•• S•••••• H•••••• L•• • •• 6••• 0•• T•••notes lien unstatedNot disclosedNot disclosed12.00%May 31, 2028
I•• A••••••••• L•• • •• 5••• 0•• T•••notes lien unstated$1.5MNot disclosed12.00%Jun 21, 2026
M•••••••• I•••preferred equity equityNot disclosedNot disclosed
n/a
I••••••••• E••••••••• A••••• L••unstated lien unstatedNot disclosedNot disclosed
Page 2 of 2Previous
Registration
Fiscal year end
1231reported
Incorporated
NYreported
On the SEC BDC report
2012 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Latest schedule
0001193125-26-333983reported