* Industry diversification based on Moody's industry classification. Measured as the fair value of investments for each category against the total fair value of all investments. Totals may not sum due to rounding.
A balanced portfolio built on the cornerstones of diversification and selectivity
Anchored in senior secured loans, NCDL has built a scaled and diversified portfolio by industry, investment type and portfolio company. Selectivity, diversification and rigorous underwriting are key to our investment philosophy, enabling strong credit performance since inception.
Portfolio holdings
Top ten positions
Represents the top ten positions in NCDL based on Fair Value as of June 30, 2024
Company | Fair value ($ in thousands) | Industry | Asset Types | Pricing1 |
---|---|---|---|---|
Kenco Group, Inc. (Delayed Draw) | 35,698 | Transportation: Cargo | First Lien Term Loan | S +5.00% |
Kenco Group, Inc. (Delayed Draw) (Incremental) | 38,234 | Transportation: Cargo | First Lien Term Loan | S +5.00% |
JEGS Automotive | 2,650,445 | Automotive | First Lien Term Loan | S +6.00% |
ITSavvy LLC (Delayed Draw) | 259,089 | High Tech Industries | First Lien Term Loan | S +5.25% |
Integrated Power Services (Incremental) | 1,397,266 | Services: Business | First Lien Term Loan | S +4.50% |
ITSavvy LLC | 7,754,399 | High Tech Industries | First Lien Term Loan | S +5.25% |
AEgis Technologies | 14,531,630 | Aerospace & Defense | First Lien Term Loan | S +4.75% |
Affinity Hospice | 6,906,592 | Healthcare & Pharmaceuticals | First Lien Term Loan | S +4.75% |
Anne Arundel | 516,000 | Healthcare & Pharmaceuticals | First Lien Term Loan | S +2.75% |
Ascensus Specialties | 8,246,497 | Chemicals, Plastics & Rubber | First Lien Term Loan | S +4.35% |
Crete Mechanical Group | 4,817,635 | Capital Equipment | First Lien Term Loan | S +4.75% |
Crete Mechanical Group (Delayed Draw) | 2,842,271 | Capital Equipment | First Lien Term Loan | S +4.75% |
Crete Mechanical Group (Delayed Draw) | 7,142,471 | Capital Equipment | First Lien Term Loan | S +4.75% |
B2B Packaging | 14,057,893 | Containers, Packaging & Glass | First Lien Term Loan | S +6.75% |
Corporate Visions | 2,625,356 | Media: Diversified & Production | First Lien Term Loan | S +4.50% |
Cornerstone Advisors of Arizona LLC (Delayed Draw) | 209,185 | Services: Business | First Lien Term Loan | S +5.50% |
Cornerstone Advisors of Arizona, LLC (Incremental) | 3,440,182 | Services: Business | First Lien Term Loan | S +5.50% |
Corporate Visions | 2,307,712 | Media: Diversified & Production | First Lien Term Loan | S +4.50% |
CrossCountry Consulting | 8,093,170 | Services: Business | First Lien Term Loan | S +4.75% |
CrossCountry Consulting (Delayed Draw) | -16,167 | Services: Business | First Lien Term Loan | S +4.75% |
Death Wish Coffee | 9,750,000 | Beverage, Food & Tobacco | First Lien Term Loan | S +5.00% |
Dessert Holdings | 5,409,795 | Beverage, Food & Tobacco | First Lien Term Loan | S +4.00% |
Diligent Corporation | -17,016 | High Tech Industries | First Lien Term Loan | S +5.00% |
D&H United Fueling Solutions (Incremental) | 3,422,649 | Services: Business | First Lien Term Loan | S +5.75% |
D&H United Fueling Solutions (Delayed Draw) (Incremental) | 1,551,428 | Services: Business | First Lien Term Loan | S +5.75% |
Arotech (Delayed Draw) | 731,674 | Aerospace & Defense | First Lien Term Loan | S +6.25% |
D&H United Fueling Solutions | 7,273,398 | Services: Business | First Lien Term Loan | S +5.50% |
D&H United Fueling Solutions (Delayed Draw) | 2,314,942 | Services: Business | First Lien Term Loan | S +5.25% |
Cornerstone Advisors of Arizona LLC | 2,283,247 | Services: Business | First Lien Term Loan | S +5.50% |
Cornerstone Advisors of Arizona LLC | 306,764 | Services: Business | First Lien Term Loan | S +5.50% |
1. The majority of the investments bear interest at rates that may be determined by reference to Secured Overnight Financing Rate ("SOFR" or "S"), which reset monthly or quarterly. For each such investment, the Company has provided the spread over SOFR and the current contractual interest rate in effect at June 30, 2024. As of June 30, 2024, rates for 1M S, 3M S, 6M S, 12M S ("SOFR") are 5.34%, 5.32%, 5.25%, and 5.04% respectively. Certain investments are subject to a SOFR floor. For fixed rate loans, a spread above a reference rate is not applicable.