Borrower-level reference data from public filings, for underwriting. We show what 14 BDCs' filings disclose about a borrower — and name the places where they disclose nothing.
Strict leave-one-filer-out AUC 0.5892 [95% CI 0.53, 0.65] on disclosed non-accrual (97 events); union AUC 0.6916 [95% CI 0.67, 0.72] on non-accrual or a mark below 0.85× cost (545 events).
Out-of-filer evaluation: each BDC is held out in turn. This is a disclosed-impairment score. It is not a validated probability of default.
The panel is the latest quarter on file for every filer: period ended 2026-09-30 for 13 of 14, and 2026-06-30 for GBDC, whose fiscal year ends 2026-09-30 and whose annual report for it is not yet filed; scores describe that panel, not today.
Panel as of 2026-09-30 filings (GBDC 2026-06-30) · filed 2026-08-03 to 2026-11-06 · re-measured 2026-11-09.
Panel as of 2026-09-30 filings (GBDC 2026-06-30). Built by an automated parser from 14 BDCs' Schedules of Investments; a small number of rows (under 1% of positions) are known to carry an instrument description instead of a borrower name or a mis-scaled principal. Counts and totals are checked against each filer's own printed total (fair value, filings for 2026-09-30, measured 2026-11-09): 9 of 14 filers sit within 1%; the largest gap is -1.29% (BBDC). Not reconciled: BXSL, HTGC, MAIN, PSEC.
Each scored borrower carries the impairment score (the chance a lender first files its loan on non-accrual within two quarters) and the lender marks and loan terms that drove it. Where a filing does not disclose what the score needs, the borrower is refused by name instead of estimated.
1,033 loan-level impairment flags: tranches the filer reports as non-accrual or carries at a fair value below 85% of cost.
Loss-given-default by lien seniority, L1 (real data, not validated): lien-mean leave-one-out error 0.28 (out-of-filer 0.306; a historical-mean benchmark scores 0.305; at the exit of 75 non-accrual positions the lien priors err 0.249 vs 0.261 for an average), re-measured 2026-11-09 on the 7,639-tranche Q3-2026 panel; about 1.4% of impaired rows carry no lien detail.
Every score links back to the filer, the filing, the tranche and the as-of date it was read from, so a reviewer can check the source in one step.
A first read on a borrower before the model is built: what other BDCs disclose about it, and where they disclose nothing.
Manager diligence against public filings: how a BDC marks and describes positions that other filers also hold.
Impairment flags and refusals across a book, with the filing behind each one.
176 lenders from SEC BDC Data Sets (every BDC that tags its schedule of investments): 158 current at their own latest quarter (the newest well-reported quarter is 2026-06-30) and 18 listed as stale with their last filing. A lender is its SEC CIK, so one lender filing under two tickers counts once.
| Lender | Quarter | Filed | Status | Filing |
|---|---|---|---|---|
| BLACKSTONE PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-12 | current | SEC |
| BLUE OWL CREDIT INCOME CORP. | 2026-06-30 | 2026-08-06 | current | SEC |
| HPS CORPORATE LENDING FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| ARES CAPITAL CORP (ARCC) | 2026-09-30 | 2026-10-27 | current | SEC |
| ARES STRATEGIC INCOME FUND | 2026-06-30 | 2026-08-07 | current | SEC |
| APOLLO DEBT SOLUTIONS BDC | 2026-06-30 | 2026-08-10 | current | SEC |
| BLACKSTONE SECURED LENDING FUND (BXSL) | 2026-06-30 | 2026-08-06 | current | SEC |
| GOLDMAN SACHS PRIVATE CREDIT CORP. | 2026-06-30 | 2026-08-10 | current | SEC |
| BLUE OWL TECHNOLOGY FINANCE CORP. | 2026-06-30 | 2026-08-05 | current | SEC |
| BLUE OWL CAPITAL CORP (OBDC) | 2026-06-30 | 2026-08-05 | current | SEC |
| FS KKR CAPITAL CORP (FSK) | 2026-06-30 | 2026-08-06 | current | SEC |
| GOLUB CAPITAL PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-11 | current | SEC |
| GOLUB CAPITAL BDC, INC. (GBDC) | 2026-06-30 | 2026-08-03 | current | SEC |
| OAKTREE STRATEGIC CREDIT FUND | 2026-06-30 | 2026-08-12 | current | SEC |
| MONROE CAPITAL INCOME PLUS CORP | 2026-06-30 | 2026-08-07 | current | SEC |
| PROSPECT CAPITAL CORP (PSEC) | 2026-06-30 | 2026-08-20 | current | SEC |
| BARINGS PRIVATE CREDIT CORP | 2026-06-30 | 2026-08-05 | current | SEC |
| NORTH HAVEN PRIVATE INCOME FUND LLC | 2026-06-30 | 2026-08-10 | current | SEC |
| TPG TWIN BROOK CAPITAL INCOME FUND | 2026-06-30 | 2026-08-10 | current | SEC |
| BLUE OWL TECHNOLOGY INCOME CORP. | 2026-06-30 | 2026-08-06 | current | SEC |
| HERCULES CAPITAL, INC. (HTGC) | 2026-09-30 | 2026-10-29 | current | SEC |
| FRANKLIN BSP CAPITAL CORP | 2026-06-30 | 2026-08-12 | current | SEC |
| MAIN STREET CAPITAL CORP (MAIN) | 2026-06-30 | 2026-08-07 | current | SEC |
| STEPSTONE PRIVATE CREDIT FUND LLC | 2026-06-30 | 2026-08-14 | current | SEC |
| CARLYLE SECURED LENDING, INC. (CGBD) | 2026-06-30 | 2026-08-06 | current | SEC |
| NEW MOUNTAIN FINANCE CORP (NMFC) | 2026-06-30 | 2026-08-03 | current | SEC |
| NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND | 2026-06-30 | 2026-08-12 | current | SEC |
| ANTARES STRATEGIC CREDIT FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| MORGAN STANLEY DIRECT LENDING FUND | 2026-06-30 | 2026-08-06 | current | SEC |
| T. ROWE PRICE OHA SELECT PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| KKR FS INCOME TRUST | 2026-06-30 | 2026-08-12 | current | SEC |
| GOLUB CAPITAL BDC 4, INC. | 2026-06-30 | 2026-08-06 | current | SEC |
| CARLYLE CREDIT SOLUTIONS, INC. | 2026-06-30 | 2026-08-11 | current | SEC |
| OAKTREE SPECIALTY LENDING CORP | 2026-06-30 | 2026-08-05 | current | SEC |
| STONE POINT CREDIT CORP | 2026-06-30 | 2026-08-14 | current | SEC |
| CAPITAL SOUTHWEST CORP (CSWC) | 2026-06-30 | 2026-08-03 | current | SEC |
| APS BDC, LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| NEW MOUNTAIN GUARDIAN IV BDC, L.L.C. | 2026-06-30 | 2026-08-11 | current | SEC |
| BARINGS BDC, INC. (BBDC) | 2026-06-30 | 2026-08-05 | current | SEC |
| NEW MOUNTAIN PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-11 | current | SEC |
| HPS CORPORATE CAPITAL SOLUTIONS FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| AB PRIVATE CREDIT INVESTORS CORP | 2026-06-30 | 2026-08-14 | current | SEC |
| NUVEEN CHURCHILL DIRECT LENDING CORP. | 2026-06-30 | 2026-08-06 | current | SEC |
| PENNANTPARK FLOATING RATE CAPITAL LTD. | 2026-06-30 | 2026-08-10 | current | SEC |
| GOLDMAN SACHS BDC, INC. | 2026-06-30 | 2026-08-06 | current | SEC |
| MSD INVESTMENT CORP. | 2026-06-30 | 2026-08-14 | current | SEC |
| T SERIES BDC LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| BLACKROCK PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-06 | current | SEC |
| JEFFERIES CREDIT PARTNERS BDC INC. | 2026-06-30 | 2026-08-12 | current | SEC |
| KKR FS INCOME TRUST SELECT | 2026-06-30 | 2026-08-12 | current | SEC |
| DIAMETER CREDIT CO | 2026-06-30 | 2026-08-10 | current | SEC |
| NMF SLF I, INC. | 2026-06-30 | 2026-08-12 | current | SEC |
| TRINITY CAPITAL INC. | 2026-06-30 | 2026-08-05 | current | SEC |
| CION INVESTMENT CORP | 2026-06-30 | 2026-08-06 | current | SEC |
| APOLLO ORIGINATION II (LEVERED) CAPITAL TRUST | 2026-06-30 | 2026-08-13 | current | SEC |
| SLR INVESTMENT CORP. (SLRC) | 2026-06-30 | 2026-08-04 | current | SEC |
| ANTARES PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| AGL PRIVATE CREDIT INCOME FUND | 2026-06-30 | 2026-08-05 | current | SEC |
| BARINGS CAPITAL INVESTMENT CORP | 2026-06-30 | 2026-08-05 | current | SEC |
| MSC INCOME FUND, INC. | 2026-06-30 | 2026-08-07 | current | SEC |
| MIDCAP FINANCIAL INVESTMENT CORP | 2026-06-30 | 2026-08-06 | current | SEC |
| VISTA CREDIT STRATEGIC LENDING CORP. | 2026-06-30 | 2026-08-07 | current | SEC |
| KAYNE ANDERSON BDC, INC. | 2026-06-30 | 2026-08-10 | current | SEC |
| OAKTREE GARDENS OLP, LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| WILLOW TREE CAPITAL CORP | 2026-06-30 | 2026-08-12 | current | SEC |
| LAFAYETTE SQUARE USA, INC. | 2026-06-30 | 2026-08-03 | current | SEC |
| FORTRESS PRIVATE LENDING FUND | 2026-06-30 | 2026-08-11 | current | SEC |
| BAIN CAPITAL PRIVATE CREDIT | 2026-06-30 | 2026-08-14 | current | SEC |
| GOLUB CAPITAL DIRECT LENDING CORP | 2026-06-30 | 2026-08-13 | current | SEC |
| BAIN CAPITAL SPECIALTY FINANCE, INC. | 2026-06-30 | 2026-08-10 | current | SEC |
| STONE POINT CREDIT INCOME FUND | 2026-06-30 | 2026-08-14 | current | SEC |
| PENNANTPARK INVESTMENT CORP | 2026-06-30 | 2026-08-10 | current | SEC |
| PALMER SQUARE CAPITAL BDC INC. | 2026-06-30 | 2026-08-05 | current | SEC |
| GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| FIDELITY PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-12 | current | SEC |
| FIDELITY PRIVATE CREDIT CO LLC | 2026-03-31 | 2026-05-08 | current | SEC |
| CCS IX PORTFOLIO HOLDINGS, LLC | 2026-06-30 | 2026-08-14 | current | SEC |
| PHILLIP STREET BDC LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| BLUE OWL CAPITAL CORP II | 2026-06-30 | 2026-08-07 | current | SEC |
| CRESTLINE LENDING SOLUTIONS, LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| SL INVESTMENT FUND II LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| TRIPLEPOINT VENTURE GROWTH BDC CORP. | 2026-06-30 | 2026-08-05 | current | SEC |
| CRESCENT CAPITAL BDC, INC. | 2026-06-30 | 2026-08-10 | current | SEC |
| ARES CORE INFRASTRUCTURE FUND | 2026-06-30 | 2026-08-07 | current | SEC |
| APOLLO ORIGINATION II (UL) CAPITAL TRUST | 2026-06-30 | 2026-08-13 | current | SEC |
| SENIOR CREDIT INVESTMENTS, LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| NEW MOUNTAIN GUARDIAN IV INCOME FUND, L.L.C. | 2026-06-30 | 2026-08-12 | current | SEC |
| NORTH HAVEN PRIVATE INCOME FUND A LLC | 2026-06-30 | 2026-08-10 | current | SEC |
| CRESCENT PRIVATE CREDIT INCOME CORP | 2026-06-30 | 2026-08-14 | current | SEC |
| 5C LENDING PARTNERS CORP. | 2026-06-30 | 2026-08-05 | current | SEC |
| BLACKROCK TCP CAPITAL CORP. (TCPC) | 2026-06-30 | 2026-08-06 | current | SEC |
| WEST BAY BDC LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| OHA SENIOR PRIVATE LENDING FUND (U) LLC | 2026-06-30 | 2026-08-14 | current | SEC |
| GOLUB CAPITAL PRIVATE INCOME FUND I | 2026-06-30 | 2026-08-14 | current | SEC |
| LGAM PRIVATE CREDIT LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| GOLUB CAPITAL DIRECT LENDING UNLEVERED CORP | 2026-06-30 | 2026-08-07 | current | SEC |
| SILVER POINT SPECIALTY LENDING FUND | 2026-06-30 | 2026-08-06 | current | SEC |
| AB PRIVATE LENDING FUND | 2026-06-30 | 2026-08-14 | current | SEC |
| MIDCAP APOLLO INSTITUTIONAL PRIVATE LENDING | 2026-06-30 | 2026-08-13 | current | SEC |
| KENNEDY LEWIS CAPITAL CO | 2026-06-30 | 2026-08-13 | current | SEC |
| WTI FUND X, INC. | 2026-06-30 | 2026-08-13 | current | SEC |
| VARAGON CAPITAL CORP | 2026-06-30 | 2026-08-11 | current | SEC |
| TRIPLEPOINT PRIVATE VENTURE CREDIT INC. | 2026-06-30 | 2026-08-14 | current | SEC |
| JOHN HANCOCK COMVEST PRIVATE INCOME FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| ADVANCED FLOWER CAPITAL INC. | 2026-06-30 | 2026-08-13 | current | SEC |
| OVERLAND ADVANTAGE | 2026-06-30 | 2026-08-12 | current | SEC |
| BRIGHTWOOD CAPITAL CORP I | 2026-06-30 | 2026-08-11 | current | SEC |
| SILVER POINT PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-07 | current | SEC |
| WHITEHORSE FINANCE, INC. | 2026-06-30 | 2026-08-10 | current | SEC |
| GOLUB CAPITAL PRIVATE INCOME FUND S | 2026-06-30 | 2026-08-14 | current | SEC |
| SOUND POINT DIRECT LENDING BDC | 2026-06-30 | 2026-08-14 | current | SEC |
| MONROE CAPITAL ENHANCED CORPORATE LENDING FUND | 2026-06-30 | 2026-08-10 | current | SEC |
| TCW STEEL CITY SENIOR LENDING BDC | 2026-06-30 | 2026-08-12 | current | SEC |
| ONEX DIRECT LENDING BDC FUND | 2026-06-30 | 2026-08-07 | current | SEC |
| KAYNE DL 2021, INC. | 2026-06-30 | 2026-08-10 | current | SEC |
| FIRST EAGLE PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| CIFC DIRECT LENDING EVERGREEN FUND | 2026-06-30 | 2026-08-14 | current | SEC |
| ANDALUSIAN CREDIT COMPANY, LLC | 2026-06-30 | 2026-08-14 | current | SEC |
| BCP INVESTMENT CORP | 2026-06-30 | 2026-08-06 | current | SEC |
| SILVER CAPITAL HOLDINGS LLC | 2026-06-30 | 2026-08-11 | current | SEC |
| EAGLE POINT TRINITY SENIOR SECURED LENDING CO | 2026-06-30 | 2026-08-14 | current | SEC |
| ANTARES STRATEGIC CREDIT FUND II LLC | 2026-06-30 | 2026-08-13 | current | SEC |
| STELLUS CAPITAL INVESTMENT CORP | 2026-06-30 | 2026-08-10 | current | SEC |
| AUDAX PRIVATE CREDIT FUND, LLC | 2026-06-30 | 2026-08-14 | current | SEC |
| PHENIXFIN CORP | 2026-06-30 | 2026-08-05 | current | SEC |
| PGIM PRIVATE CREDIT FUND | 2026-06-30 | 2026-08-13 | current | SEC |
| BC PARTNERS LENDING CORP | 2026-06-30 | 2026-08-07 | current | SEC |
| PIMCO CAPITAL SOLUTIONS BDC CORP. | 2026-06-30 | 2026-08-11 | current | SEC |
| BLACKROCK DIRECT LENDING CORP. | 2026-06-30 | 2026-08-06 | current | SEC |
| TCW DIRECT LENDING VII LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| WTI FUND XI, INC. | 2026-06-30 | 2026-08-13 | current | SEC |
| PENNANTPARK PRIVATE INCOME FUND | 2026-06-30 | 2026-08-10 | current | SEC |
| TCW SPECIALTY LENDING LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| RUNWAY GROWTH FINANCE CORP. | 2026-06-30 | 2026-08-06 | current | SEC |
| TCW DIRECT LENDING VIII LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| SLR HC BDC LLC | 2026-06-30 | 2026-08-04 | current | SEC |
| SCP PRIVATE CREDIT INCOME BDC LLC | 2026-06-30 | 2026-08-04 | current | SEC |
| STELLUS PRIVATE CREDIT BDC | 2026-06-30 | 2026-08-12 | current | SEC |
| PROSPECT FLOATING RATE & ALTERNATIVE INCOME FUND, INC. | 2026-06-30 | 2026-09-28 | current | SEC |
| COMMONWEALTH CREDIT PARTNERS BDC I, INC. | 2026-06-30 | 2026-08-11 | current | SEC |
| FIDUS INVESTMENT CORP | 2026-06-30 | 2026-08-06 | current | SEC |
| OXFORD SQUARE CAPITAL CORP. | 2026-06-30 | 2026-08-10 | current | SEC |
| INVESTCORP CREDIT MANAGEMENT BDC, INC. | 2026-06-30 | 2026-08-14 | current | SEC |
| THIRD POINT PRIVATE CAPITAL PARTNERS | 2026-06-30 | 2026-08-13 | current | SEC |
| AUDAX CREDIT BDC INC. | 2026-06-30 | 2026-08-13 | current | SEC |
| GLADSTONE CAPITAL CORP | 2026-06-30 | 2026-08-04 | current | SEC |
| VENTURE LENDING & LEASING IX, INC. | 2026-03-31 | 2026-05-14 | current | SEC |
| SLR PRIVATE CREDIT BDC II LLC | 2026-06-30 | 2026-08-04 | current | SEC |
| GREAT ELM CAPITAL CORP. | 2026-06-30 | 2026-08-05 | current | SEC |
| TCW STAR DIRECT LENDING LLC | 2026-06-30 | 2026-08-12 | current | SEC |
| MUZINICH CORPORATE LENDING INCOME FUND, INC. | 2026-06-30 | 2026-08-13 | current | SEC |
| OFS CAPITAL CORP | 2026-09-30 | 2026-10-30 | current | SEC |
| INVESTCORP US PRIVATE CREDIT BDC II | 2026-03-31 | 2026-05-15 | current | SEC |
| CHICAGO ATLANTIC BDC, INC. | 2026-06-30 | 2026-08-13 | current | SEC |
| LAGO EVERGREEN CREDIT | 2026-06-30 | 2026-08-10 | current | SEC |
| NEXPOINT CAPITAL, INC. | 2026-06-30 | 2026-08-14 | current | SEC |
| GLADSTONE INVESTMENT CORPORATIONDE | 2026-06-30 | 2026-08-06 | current | SEC |
| HANCOCK PARK CORPORATE INCOME, INC. | 2026-06-30 | 2026-08-07 | current | SEC |
| NUVEEN CHURCHILL BDC V | 2025-12-31 | 2026-03-02 | stale | SEC |
| MONROE CAPITAL CORP | 2025-12-31 | 2026-03-05 | stale | SEC |
| AG TWIN BROOK BDC, INC. | 2023-03-31 | 2023-05-12 | stale | SEC |
| BLACKROCK CAPITAL INVESTMENT CORP | 2023-12-31 | 2024-03-05 | stale | SEC |
| BLUE OWL CAPITAL CORP III | 2024-09-30 | 2024-11-06 | stale | SEC |
| BLUE OWL TECHNOLOGY FINANCE CORP. II | 2024-12-31 | 2025-03-04 | stale | SEC |
| CARLYLE SECURED LENDING III | 2024-09-30 | 2024-11-13 | stale | SEC |
| FRANKLIN BSP LENDING CORP | 2023-09-30 | 2023-11-13 | stale | SEC |
| FS SPECIALTY LENDING FUND | 2025-06-30 | 2025-08-14 | stale | SEC |
| GOLDMAN SACHS MIDDLE MARKET LENDING CORP. II | 2025-06-30 | 2025-08-12 | stale | SEC |
| GOLUB CAPITAL BDC 3, INC. | 2024-03-31 | 2024-05-08 | stale | SEC |
| INVESTCORP US INSTITUTIONAL PRIVATE CREDIT FUND | 2023-09-30 | 2023-11-13 | stale | SEC |
| LOGAN RIDGE FINANCE CORP. | 2025-03-31 | 2025-05-08 | stale | SEC |
| NEW MOUNTAIN GUARDIAN III BDC, L.L.C. | 2024-09-30 | 2024-11-12 | stale | SEC |
| NEWTEK BUSINESS SERVICES CORP. | 2022-09-30 | 2022-11-08 | stale | SEC |
| REDWOOD ENHANCED INCOME CORP. | 2025-09-30 | 2025-11-13 | stale | SEC |
| SL INVESTMENT CORP. | 2024-03-31 | 2024-05-14 | stale | SEC |
| TCW DIRECT LENDING LLC | 2022-12-31 | 2023-05-11 | stale | SEC |
1,080 borrowers are refused by name: holdings a lending BDC reports as its own 1940 Act control or affiliate investment, borrowers already on non-accrual, and borrowers no BDC lender's debt position resolves to in the SEC BDC Data Sets. They are listed, with the reason, rather than quietly estimated.
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