Nuveen Churchill Direct Lending Corp
Inside Nuveen Churchill Direct Lending Corp’s $2.0B private-credit portfolio — 554 portfolio holdings disclosed in SEC filings.
Filing Information
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public).
Top Portfolio Holdings
| Company | Sector | Investment | Coupon | Maturity | Cost | Fair Value |
|---|---|---|---|---|---|---|
| Trilon Group, LLC | First Lien Debt Senior Secured | SOFR + 4.50% | $27,294,000 | $27,299,000 | ||
| Matador US Buyer, LLC (Insulation Technology Group) | First Lien Debt Senior Secured | SOFR + 5.00% | $21,906,000 | $22,133,000 | ||
| Kenco PPC Buyer LLC | First Lien Debt Senior Secured | SOFR + 4.25% | $21,488,000 | $21,511,000 | ||
| WCHG Buyer, Inc. (Handgards, LLC) | First Lien Debt Senior Secured | SOFR + 4.75% | $20,026,000 | $20,176,000 | ||
| FirstCall Mechanical Group, LLC | First Lien Debt Senior Secured | SOFR + 4.75% | $19,783,000 | $19,669,000 | ||
| RA Parent Holdings LP (S&S Truck Parts) | First Lien Debt Senior Secured | SOFR + 4.75% | $19,648,000 | $19,606,000 | ||
| Sapphire Telecom, Inc. | First Lien Debt Senior Secured | SOFR + 5.00% | $18,693,000 | $18,794,000 | ||
| Mobile Communications America, Inc. | First Lien Debt Senior Secured | SOFR + 4.75% | $17,932,000 | $17,982,000 | ||
| Gannett Fleming, Inc. | First Lien Debt Senior Secured | SOFR + 4.25% | $17,400,000 | $17,489,000 | ||
| Legacy Service Partners, LLC | First Lien Debt Senior Secured | SOFR + 4.50% | $17,448,000 | $17,394,000 | ||
| Alta Buyer, LLC | First Lien Debt Senior Secured | SOFR + 4.50% | $17,437,000 | $17,330,000 | ||
| Commercial Bakeries Corp. | First Lien Debt Senior Secured | SOFR + 5.25% | $16,684,000 | $16,806,000 | ||
| ACP Maverick Holdings, Inc. | First Lien Debt Senior Secured | SOFR + 4.75% | $16,061,000 | $16,126,000 | ||
| Royal Holdco Corporation (RMA Companies) | First Lien Debt Senior Secured | SOFR + 4.50% | $16,281,000 | $16,061,000 | ||
| YI, LLC (Young Innovations) | First Lien Debt Senior Secured | SOFR + 5.75% | $16,077,000 | $15,882,000 | ||
| VMG Holdings LLC (VMG Health) | First Lien Debt Senior Secured | SOFR + 5.00% | $15,578,000 | $15,574,000 | ||
| AB Centers Acquisition Corporation (Action Behavior Centers) | First Lien Debt Senior Secured | SOFR + 5.25% | $15,352,000 | $15,287,000 | ||
| Tidi Legacy Products, Inc. | First Lien Debt Senior Secured | SOFR + 4.50% | $15,073,000 | $15,173,000 | ||
| SCIC Buyer, Inc. | First Lien Debt Senior Secured | SOFR + 4.75% | $14,537,000 | $14,958,000 | ||
| PAG Holding Corp. (Precision Aviation Group) | First Lien Debt Senior Secured | SOFR + 4.75% | $14,502,000 | $14,701,000 | ||
| World Insurance Associates, LLC | First Lien Debt Senior Secured | SOFR + 5.00% | $14,580,000 | $14,401,000 | ||
| good2grow LLC | First Lien Debt Senior Secured | SOFR + 4.75% | $14,022,000 | $14,058,000 | ||
| Redwood Services Group, LLC (Evergreen Services Group) | First Lien Debt Senior Secured | SOFR + 5.00% | $13,848,000 | $13,991,000 | ||
| Java Buyer, Inc. | First Lien Debt Senior Secured | SOFR + 4.75% | $13,870,000 | $13,920,000 | ||
| B2B Industrial Products, LLC (AMW Acquisition Company, Inc.) | First Lien Debt Senior Secured | SOFR + 6.75% | $14,096,000 | $13,781,000 |
Loan-Pricing Trend
Fair-value-weighted average credit spread and average mark across this BDC’s Schedule-of-Investments debt holdings, by filing quarter. Spread and mark are shown in the units reported in the filing. Source: SEC EDGAR (public).
| Quarter | Priced Loans | Wtd-Avg Spread | Avg Mark | Debt Fair Value |
|---|---|---|---|---|
| 2022-06-30 | 16 | 5.31 | — | $82K |
| 2022-09-30 | 17 | 5.27 | — | $81K |
| 2022-12-31 | 16 | 5.47 | — | $89K |
| 2023-03-31 | 14 | 5.59 | — | $78K |
| 2023-06-30 | 217 | 5.58 | 80.1 | $1.1B |
| 2023-09-30 | 236 | 5.68 | 80.2 | $1.2B |
| 2023-12-31 | 247 | 5.73 | 80.7 | $1.4B |
| 2024-03-31 | 273 | 5.62 | 81.2 | $1.6B |
| 2024-06-30 | 286 | 5.41 | 81.1 | $1.8B |
| 2024-09-30 | 262 | 5.30 | 80.0 | $1.6B |
| 2024-12-31 | 182 | 5.12 | 82.6 | $969M |
| 2025-03-31 | 180 | 5.10 | 84.5 | $1.0B |
| 2025-06-30 | 171 | 5.18 | 86.6 | $927M |
| 2025-09-30 | 175 | 5.15 | 89.1 | $952M |
| 2025-12-31 | 207 | 5.05 | 85.9 | $974M |
| 2026-03-31 | 421 | 5.01 | 82.2 | $1.9B |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
About Nuveen Churchill Direct Lending Corp
Nuveen Churchill Direct Lending Corp (NCDL) is a publicly traded Business Development Company (BDC) — essentially a publicly listed fund that lends money to mid-sized private companies. In plain English: BDCs raise money from public investors and lend it to businesses that are too small for Wall Street banks. By law, they must pay out at least 90% of their profits as dividends, which is why BDC yields are often 8–12%. Nuveen Churchill Direct Lending Corp discloses its full loan portfolio through SEC filings.
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