T-SERIES-BDC-LLC
Morgan Stanley private credit holdings
T-SERIES-BDC-LLC schedule of investments, latest period.
As of 2026-06-30 · compiled 2026-09-09
Manager: Morgan Stanley
$2.3bn
Fair value
408
Positions
+$40k
NAV-if-street
11.1%
PIK share of debt
$45.1m
Non-accrual FV
198
Overlapped credits
Street is the leave-one-out median of other holders' FV/principal on the matched funded facility. Not a NAV restatement. Do not add overlapping-book dollars across funds. NAV-if-street is +$40k (0.2 bps of book).
What the book is exposed to
| Sector | Fair value | Share |
|---|---|---|
| Software | $421.5m | 19.0% |
| Insurance Services | $246.6m | 11.1% |
| Commercial Services & Supplies | $211.7m | 9.6% |
| Health Care Providers & Services | $198.4m | 9.0% |
| Diversified Consumer Services | $122.9m | 5.5% |
| IT Services | $114.0m | 5.1% |
| Financial Services | $102.5m | 4.6% |
| Professional Services | $86.8m | 3.9% |
| Electronic Equipment, Instruments & Components | $74.2m | 3.3% |
| Distributors | $60.5m | 2.7% |
Largest named credits
As-filed ¢ is the printed SOI line for that facility (FV/principal on co-held funded debt). Street is the other holders' median. A book blend is not a mark.
| Credit | Facility | Fair value | As-filed ¢ | Street ¢ | Δ |
|---|---|---|---|---|---|
| Excelitas Technologies Corp. | first lien term loan | $34.7m | 100.6¢ | - | - |
| VRC Companies, LLC | first lien term loan | $33.4m | 99.9¢ | 99.9¢ | +0.0 pt |
| PT Intermediate Holdings III, LLC | first lien term loan | $32.4m | 100.0¢ | 100.0¢ | 0.0 pt |
| World Insurance Associates, LLC | first lien term loan | $30.6m | 99.5¢ | 99.7¢ | -0.2 pt |
| Integrity Marketing Acquisition, LLC | first lien term loan | $29.2m | 100.0¢ | 100.0¢ | 0.0 pt |
| Pareto Health Intermediate Holdings, Inc. | first lien term loan | $28.8m | 99.0¢ | 99.0¢ | 0.0 pt |
| High Street Buyer, Inc. | first lien term loan | $27.2m | 99.2¢ | 99.6¢ | -0.4 pt |
| Zarya Intermediate, LLC | first lien term loan | $26.3m | 98.8¢ | 98.8¢ | 0.0 pt |
| Tank Holding Corp. | first lien term loan | $25.1m | 95.8¢ | 94.7¢ | +1.1 pt |
| Magneto Components Buyco, LLC | first lien term loan | $23.9m | 100.0¢ | 100.0¢ | 0.0 pt |
| Diligent Corporation | first lien term loan | $23.7m | 98.0¢ | 97.8¢ | +0.3 pt |
| Raptor Merger Sub Debt, LLC | first lien term loan | $23.6m | 99.1¢ | 99.1¢ | +0.0 pt |
| Catalis Intermediate, Inc. | first lien term loan | $22.9m | 99.5¢ | 95.5¢ | +4.0 pt |
| Advarra Holdings, Inc. | first lien term loan | $22.7m | 98.5¢ | 98.7¢ | -0.2 pt |
| MRI Software, LLC | first lien term loan | $22.3m | 99.8¢ | 98.3¢ | +1.5 pt |
This is the filing window into that manager's private credit, not the whole platform.
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