The debt map

We searched the latest 10-Q of all 10 BDCs on our book check for 26 borrower names on Oct 30, 2026. These are the only positions that came up. That doesn’t mean there’s no other exposure: a position can sit under a holding company’s name, and most of this debt is held by funds that file nothing we can read. The tag is the BDC’s own status on our book check, not a grade of the position.

• The most connected companies sit toward the middle. Where a bubble sits has no other meaning.
• A bubble’s size is the company’s market cap, or its last reported private valuation if it isn’t listed, and it’s a snapshot from Oct 30, 2026, not a live price. The extra area above a minimum size follows the value, so small companies stay readable. Click a bubble for the figure, its date and its source. A company with no public value stays at the minimum.
• Size isn’t risk, and it isn’t how much of this debt a company carries. The panel gives that for each company, counting whole deals.
• A deal’s square is its debt where that’s known, otherwise the financing as reported. Each deal page says which. Pick one to see who’s in it.
• Backstop caps are limits, not money owed today, so they’re kept apart from the $368B of financing.
• Talks, letters of intent and deals that failed are shown but not counted. That’s 4 of the 41.
• A rim on a bubble means one of today’s signals names that company: yellow for watch, red for flashing. It’s text matching on our own readings, not a judgment on the company.
• This list is kept by hand, last checked Oct 30, 2026. It won’t have every deal, and we say what we couldn’t find. How the index works. The format owes a debt to Arin Jaff’s The AI money machine. None of its data is used here.
• Logos belong to their owners and only identify each company. None of these companies is connected to us or endorses this page.

Not financial advice.