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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 Dec 31, 2024
224 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
K••• S•••••••• I••• • 1• 8••• 9••preferred equity equityNot disclosedNot disclosed
F••••••••• A••••••••• U••• L•• • 6•••• s•••••equity equityNot disclosedNot disclosed
O••• E•••••••• I••• • 3••• 8•• C•••••unstated lien unstatedNot disclosedNot disclosed
n/a
D•• O••••••••• L•• • 1• 0••preferred equity equityNot disclosedNot disclosed
D•• O••••••••• L•• • 1• 0••equity equityNot disclosedNot disclosed
F•• I••••••••• H••••• L•• •••• 0•• C•••••••••notes lien unstatedNot disclosedNot disclosed
F••••••••• A••••••••• U••• L•• • 6•••• s•••••equity equityNot disclosedNot disclosed
I•• A••••••••• L•• 1• 1••preferred equity equityNot disclosedNot disclosed
n/a
D•• O••••••••• L•• • •• 0••• 2•• T•••notes lien unstatedNot disclosedNot disclosedSep 30, 2026
S•••••• I••• • 1••• 6••preferred equity equityNot disclosedNot disclosed
T••••• T••••••••• M••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
N•• a•••••unstated lien unstatedNot disclosedNot disclosed
c•••••• t• i•••••••••unstated lien unstatedNot disclosedNot disclosed
I•• A••••••••• L•• • •• 2••• 8•• F••••• A•••••• a•• R••••••• T•••notes lien unstatedNot disclosedNot disclosed3.00%
PIK 11.00%
Dec 31, 2024
A•••••• I••••• I•••warrants equityNot disclosedNot disclosed
I•• A••••••••• L•• 1• 9••equity equityNot disclosedNot disclosed
r•••••• s••• o• l••••••••• D•• O••••••••• L•• e••••• r••••••unstated lien unstatedNot disclosedNot disclosed
S•••••• I••• • 1••• 5••preferred equity equityNot disclosedNot disclosed
C•••••• I••• • 1••equity equityNot disclosedNot disclosed
n/a
r•••••• s••• o• l••••••••• F••••••••• A••••••••• U••unstated lien unstatedNot disclosedNot disclosed
r•••••• s••• o• l••••••••• P••••••• P••unstated lien unstatedNot disclosedNot disclosed
K••• S•••••••• I•••unstated lien unstatedNot disclosedNot disclosed
c•••••• t• i••••••••• C•••••unstated lien unstatedNot disclosedNot disclosed
c•••••• t• i•••••••••unstated lien unstatedNot disclosedNot disclosed
Page 3 of 3Previous
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