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V•••••• L•••••• • L•••••• I•• I•••

Business development companymanaged by W•••••• T••••••••• I••••••••• ••••Non-traded· PORTOLA VALLEY, CA

A non-traded business development company, managed by W•••••• T••••••••• I••••••••• ••••, holding $56.2M across 61 borrowers at Mar 31, 2026.

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

Fair value
$56.2M
Schedule of investments, 10-Q and 10-K
Borrowers
61
Schedule of investments, 10-Q and 10-K
Mark on cost
61.0¢
Schedule of investments, 10-Q and 10-K
First lien
100%
Schedule of investments, 10-Q and 10-K
Schedule of investments (65)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. 66.4¢ → 61.0¢
    book mark on cost

    Marked its book down from 66.4¢ to 61.0¢ on the dollar in the quarter to Mar 31, 2026.

    Q1 2026 · The whole portfolio was marked down; net asset value follows.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
  2. 26 below 80¢
    $48.5M principal

    26 positions across 26 borrowers marked below 80¢ on cost, $48.5M principal.

    Q1 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 31 Mar 2026
  3. 68 → 61
    borrowers

    Lost a net 7 borrowers in the quarter to Mar 31, 2026, to 61.

    Q1 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
  4. $130M → $56.2M
    fair value, 4 quarters

    Its portfolio shrank 57% at fair value over the last four quarters.

    Q1 2026 · The book is shrinking.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 1717310 · file 814-01253Show
Fair value
$56.2M
as of Mar 31, 2026
Principal held
$107M
debt pieces, the filer's figure
Cost
$92.2M
61c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
65
61 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
14
since Dec 31, 2022
Facilities held
61
1 sponsors financed
Portfolio through time
Fair value by quarter end$56.2M as of Mar 31, 2026
Dec 31, 2022$490M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Mar 31, 2026$56.2M6161c0n/a
Dec 31, 2025$78.1M6866c0n/a
Sep 30, 2025$90.9M7964c0n/a
Jun 30, 2025$105M8867c0n/a
All 14 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Mar 31, 2025$130M9874c0n/a
Dec 31, 2024$302M10678c0n/a
Sep 30, 2024$175M11975c0n/a
Jun 30, 2024$203M13079c0n/a
Mar 31, 2024$253M14283c0n/a
Dec 31, 2023$347M15586c0n/a
Sep 30, 2023$355M16188c0n/a
Jun 30, 2023$406M16992c0n/a
Mar 31, 2023$464M18393c0n/a
Dec 31, 2022$490M19194c0n/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 Mar 31, 2026
65 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
S••••••••• L••••• P•••••••• L••term loan first lien$14.7M$11.9M
86c
12.50%
R•••••• E•••••• I•••term loan first lien$7.2M$6.6M
91c
13.50%
Q•••••••• C••••term loan first lien$7.3M$5.1M
100c
12.00%
R••••••••• I•••term loan first lien$5.8M$4.8M
100c
11.30%
K•••• K••••• I•••term loan first lien$3.6M$3.4M
100c
13.00%
D•••••••• I•••term loan first lien$5.4M$2.8M
100c
11.00%
H••••• G••••• E••••••••• I•••term loan first lien$2.2M$2.0M
100c
15.00%
E••••• T••••••••• I•••term loan first lien$3.1M$1.7M
62c
12.00%
P•••• P•••••• I•••term loan first lien$2.9M$1.6M
88c
11.60%
B••••• I•••term loan first lien$1.7M$1.0M
59c
10.00%
All 65 positionslargest fair value first
BorrowerInstrumentPrincipalFair valueRateMaturity
C•••••• A•••••••• I•••term loan first lien$1.4M$989,800
78c
12.00%
C•••••••• I•••term loan first lien$1.1M$961,868
100c
11.00%
J••• M•••••• I•••term loan first lien$1.1M$930,916
100c
12.00%
i••••••••• I•••term loan first lien$3.0M$930,703
31c
12.30%
S•••••••• I•••term loan first lien$1.8M$922,530
55c
13.70%
M••••••••• I•••term loan first lien$1.5M$854,761
66c
11.10%
B•••••••• I•••term loan first lien$859,238$705,991
88c
14.10%
V••• H••••••• L••••••term loan first lien$2.5M$671,129
73c
12.00%
G••• C••••••• I•••term loan first lien$614,592$582,248
100c
12.30%
E•••••••• I•••term loan first lien$1.2M$547,096
46c
12.00%
D•• S••••• I•••term loan first lien$726,630$536,550
100c
10.00%
J•• M•••••••• I••term loan first lien$484,083$493,620
100c
12.00%
A••••• I•••term loan first lien$957,356$453,370
50c
12.80%
A••••• I•••term loan first lien$396,897$391,130
100c
13.50%
R••••••••• U••• L••term loan first lien$404,606$368,062
88c
12.00%
V••••• H•••••• I•••term loan first lien$711,734$362,797
59c
12.00%
B•••••••• I•••term loan first lien$344,400$344,400
100c
11.30%
T••••••• A•••• I•••term loan first lien$603,216$326,896
69c
12.00%
L•••••••• S•••••••• P••• L•••term loan first lien$352,381$318,146
100c
12.10%
S• I••••••••• I•••term loan first lien$296,704$296,704
100c
13.50%
R••• G••••••• I•••term loan first lien$1.4M$270,549
23c
11.80%
U••• I•••term loan first lien$266,219$264,990
100c
11.50%
D••••••• T•••••••• I•••term loan first lien$333,554$247,799
100c
13.50%
S• I••••••••• I•••term loan first lien$224,983$224,983
100c
13.50%
C•••••• L••••••term loan first lien$206,242$204,871
100c
15.50%
U•••• L••• I•••term loan first lien$195,535$195,117
100c
13.50%
C••••• S••• I••term loan first lien$192,437$191,019
100c
11.00%
H•••••• H••••• I•••term loan first lien$1.2M$179,051
19c
12.50%
C••••• S••• I••term loan first lien$155,933$155,932
100c
11.00%
S• I••••••••• I•••term loan first lien$153,355$151,375
100c
13.50%
V•••• H••••••• I•••term loan first lien$134,189$133,823
100c
11.80%
V•••• H••••••• I•••term loan first lien$134,189$133,147
100c
11.80%
1••••• P•• L•••term loan first lien$5.5M$117,000
2c
12.00%
F••••••••• T••••••••• I•••term loan first lien$116,000$115,076
100c
13.50%
T••••••••• I•••term loan first lien$246,357$99,354
100c
12.00%
O•••••••• I•••term loan first lien$92,921$91,422
100c
12.30%
T•••••••• I•••term loan first lien$74,798$76,108
100c
12.00%
P•••••• I•••term loan first lien$2.0M$57,840
4c
12.50%
C•••••••• I•••term loan first lien$392,046$56,206
16c
15.00%
G••••••••• I•••term loan first lien$122,796$47,976
48c
11.50%
I••••• R••••••• G••••• L•••term loan first lien$61,044$39,718
100c
13.00%
S••• S••••••••• I•••term loan first lien$32,313$32,285
100c
11.50%
K••• I•••term loan first lien$29,153$28,817
100c
14.00%
H•••• I•••term loan first lien$204,304$26,811
100c
13.50%
B•••• C••• T••••••••• I•••term loan first lien$738,617$24,574
4c
12.00%
Y••• B••••••••• I•••term loan first lien$19,387$19,185
100c
13.30%
G••••••• I•••term loan first lien$16,370$16,340
100c
11.50%
F••••••• I•••term loan first lien$547,646$0
0c
11.80%
L•••••••• I•••term loan first lien$2.4M$0
0c
14.10%
F••• R••••••• I•••term loan first lien$585,436$0
0c
11.00%
L••••••• H••••••• I•••term loan first lien$4.0M$0
0c
10.30%
A••••• M••••••• I•••term loan first lien$398,742$0
0c
18.00%
M••••••••• C••••••••• I•••term loan first lien$10.0M$0
0c
18.00%
T••••••••• I•••term loan first lien$623,478$0
0c
18.00%
Z••• T••••••••• I•••term loan first lien$251,129$0
0c
10.00%
Page 1 of 1
Registration
Fiscal year end
1231reported
Incorporated
MDreported
On the SEC BDC report
2018 to 2026reported
Filings listed
18reported10-Q and 10-K since 2022
Former names
Venture Lending & L•••••• Fund IX, Inc.reported
Latest schedule
0001717310-26-000009reported