PhenixFin Corporation
Inside PhenixFin Corporation’s $49M private-credit portfolio — 12 holdings disclosed in SEC filings.
Aug 5 · SEC EDGAR
Credit Snapshot
How PHEN’s own Schedule of Investments reads as a credit. Fair values are the manager’s own estimates; balance-sheet metrics (NAV, leverage) appear once annual financials are on file.
| Metric | Value | What healthy looks like |
|---|---|---|
| Top-5 Borrower Concentration | 99% of portfolio FV largest: FlexFIN, LLC (71.6% of FV) | Measured against NAV, not just portfolio value: leverage means one borrower’s writedown hits book value harder than its portfolio share suggests. Diversified BDCs typically keep any single name to a low single-digit share of the portfolio. |
| Debt Marked Below 90 | 0.0% of marked debt FV (100% coverage) | Loans marked below 90 cents on the dollar are the book’s watchlist; a growing tail often precedes non-accrual. |
| Non-Accruals | — not yet parsed | 1–3% of debt fair value is normal; 5%+ is a warning sign. We don’t parse this yet — check the latest 10-Q. |
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public). As of the 2026-08-05 filing.
Quarter-over-quarter changes
Borrowers added to and dropped from the book between the 2026-05-05 and 2026-08-05 filings, and the largest weighted-mark moves on borrowers held across both. Aggregated to the borrower so a company’s exposure is counted once even when its loan tranches are re-cut quarter to quarter; entries and exits under $0.5M are omitted as parse noise.
Exited 27
- Nvtn Llc$20M
- Ecc Capital Corp.$17M
- Whi Global, Llc$15M
- Ss Acquisition, Llc (Dba Soccer Shots Franchising)$14M
- Ngs-Wcs Group Holdings - Jfl-Ngs-Wcs Partners, Llc$13M
- Mb Precision Investment Holdings Llc$13M
Top Portfolio Holdings
| # | Company | Type | Coupon | Maturity | Fair Value | % of FV |
|---|---|---|---|---|---|---|
| 1 | FlexFIN, LLC | Debt | — | — | $35M | 71.6% |
| 2 | - Common Units4 reporting lines · Equity + Equity + Equity | Equity | — | — | $5M | 10.8% |
| 3 | - Preferred Units | Equity | — | — | $4M | 8.1% |
| 4 | - Class E Preferred Units2 reporting lines · Equity + Equity | Equity | — | — | $3M | 6.4% |
| 5 | - Class C Preferred Units | Equity | — | — | $889K | 1.8% |
| 6 | - Class F Preferred Units | Equity | — | — | $419K | 0.8% |
| 7 | Delayed Draw Term Loan (14.00%) | 1L Sr Secured | — | Aug 2029 | $222K | 0.4% |
| 8 | - Membership Units | Equity | — | — | — | — |
| Full schedule — all 12 holdings, sortable and screenable → | ||||||
This page is the public file — the Ledge adds
Borrower cross-reference
Search any borrower, see every BDC exposed to it.
Quarterly diffs
What entered and exited the book each quarter.
Book-structure risk
Senior-secured, floating-rate and PIK share — how the book is built.
Questions this page answers
How large is PhenixFin Corporation's portfolio?
PhenixFin Corporation reported $49M in portfolio fair value across 12 holdings and 8 unique borrowers as of its 2026-08-05 SEC filing.
Where does this data come from?
This data is parsed by Oxford Ledge from PhenixFin Corporation's Schedule of Investments in its SEC EDGAR filings. Fair values are the manager's own estimates as of the 2026-08-05 filing date.
About PhenixFin Corporation
PhenixFin Corporation (PHEN) 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. To qualify for pass-through tax treatment, they distribute at least 90% of their taxable investment income to shareholders, which is why BDC yields are often 8–12%. PhenixFin Corporation discloses its full loan portfolio through SEC filings.