* 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 |
---|---|---|---|---|
E78 | 5,530,244 | Services: Business | First Lien Term Loan | S +5.50% |
Genesee Scientific | 5,525,787 | Healthcare & Pharmaceuticals | First Lien Term Loan | S +5.75% |
Dessert Holdings | 5,409,795 | Beverage, Food & Tobacco | First Lien Term Loan | S +4.00% |
Heartland Home Services (Delayed Draw) | 5,350,016 | Capital Equipment | First Lien Term Loan | S +6.00% |
Bounteous | 5,320,042 | Services: Business | First Lien Term Loan | S +4.75% |
NJEye LLC | 5,307,652 | Services: Consumer | First Lien Term Loan | S +4.75% |
HemaSource Inc. | 5,216,623 | Healthcare & Pharmaceuticals | Subordinated Debt | 8.50% (Cash) 5.00% (PIK) |
All My Sons | 5,206,643 | Services: Consumer | First Lien Term Loan | S +4.75% |
Ahead Data Blue LLC | 5,141,491 | High Tech Industries | First Lien Term Loan | S +4.25% |
Halo Buyer Inc | 5,043,040 | Consumer Goods: Durable | First Lien Term Loan | S +4.50% |
DMC HoldCo LLC (DMC Power) | 5,005,365 | Utilities: Electric | First Lien Term Loan | S +5.75% |
SmartSign | 4,999,500 | Consumer Goods: Durable | First Lien Term Loan | S +5.75% |
Ahead Data Blue LLC | 4,891,599 | High Tech Industries | First Lien Term Loan | S +3.75% |
Sciens Building Solutions, LLC (Delayed Draw) | 4,878,912 | Construction & Building | First Lien Term Loan | S +5.75% |
The Facilities Group (Delayed Draw) | 4,865,839 | Environmental Industries | First Lien Term Loan | S +5.75% |
Crete Mechanical Group | 4,817,635 | Capital Equipment | First Lien Term Loan | S +4.75% |
Southern Veterinary Partners | 4,787,515 | Healthcare & Pharmaceuticals | First Lien Term Loan | S +3.75% |
The Facilities Group | 4,786,951 | Environmental Industries | First Lien Term Loan | S +5.75% |
Technical Safety Services (Delayed Draw) | 4,752,272 | Services: Business | First Lien Term Loan | S +5.50% |
GHR Healthcare (Incremental) | 4,745,124 | Healthcare & Pharmaceuticals | First Lien Term Loan | S +5.00% |
Prosci, Inc. | 4,733,333 | High Tech Industries | First Lien Term Loan | S +4.25% |
Legacy Service Partners, LLC (“LSP”) (Delayed Draw) | 4,689,572 | Services: Consumer | First Lien Term Loan | S +5.25% |
RoadOne | 4,681,593 | Transportation: Cargo | Subordinated Debt | 8.75% (Cash) 5.00% (PIK) |
Orion Group FM Holdings, LLC (dba Leo Facilities Maintenance) (Delayed Draw) | 4,672,929 | Environmental Industries | First Lien Term Loan | S +6.25% |
RMA Companies (Delayed Draw) | 4,578,100 | Construction & Building | First Lien Term Loan | S +5.75% |
Vital Records Control | 4,558,480 | Services: Business | First Lien Term Loan | S +5.50% |
ALKU Intermediate Holdings, LLC | 4,538,489 | Services: Business | First Lien Term Loan | S +6.25% |
Proampac | 4,518,867 | Containers, Packaging & Glass | First Lien Term Loan | S +4.00% |
Wrench Group | 4,498,388 | Services: Consumer | First Lien Term Loan | S +4.00% |
Rise Baking (Delayed Draw) | 4,381,032 | Beverage, Food & Tobacco | 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.