Portfolio reports show the current active book. Closed and archived borrowers, including their history, are available in All Borrowers.
Equity Co-Invest Ledger
Cost basis, distributions and MOIC across the co-invest book — the equity side of names the credit pages track
NSNS SBIC Fund · Q2 2026 · entire fund values
- Known cost
- $107,200,000.00
- 0 missing
- Reported SBA
- $97,500,000.00
- 0 missing
- Reported GAAP
- $101,300,000.00
- 0 missing
- Computed SBA depreciation
- $9,700,000.00
- 0 missing
10 positions have covenant definitions or results. Missing inputs are excluded from totals; reported zeros are included.
NSNS SBIC Fund equity subset, 2026-Q2: 3/3 marked. 0 missing marks excluded from known unrealized value; missing inputs prevent a complete MOIC.
Missing acquisition costs: 0. Missing marks: 0. Known invested and unrealized totals exclude missing inputs.
Co-Invest Positions
| Company | Ownership | Invested | Realized | Current FV | MOIC | Held | Events |
|---|---|---|---|---|---|---|---|
| Kilnbrace Specialty Products Industrials | 10.0% | $1.5M | $0.0M | $0.0M | 0.00x | 2.8 yrs realized out | 1 |
| Meridian Industrial Services Industrials | 8.0% | $2.5M | $1.6M | $2.9M | 1.80x | 3.0 yrs | 2 |
| Summit Software Holdings Technology | 6.0% | $3.8M | $0.0M | $4.6M | 1.21x | 2.4 yrs | 1 |
Event History
| Date | Company | Event | Amount | Note |
|---|---|---|---|---|
| 2026-06-30 | Kilnbrace Specialty Products | Write-off | — | Equity written to zero; credit position remains |
| 2026-03-20 | Meridian Industrial Services | Partial realization | $1.2M | Secondary sale of 40% of position |
| 2025-11-15 | Meridian Industrial Services | Distribution | $0.4M | Recap dividend, pro-rata |
| 2025-06-30 | Summit Software Holdings | Follow-on | $0.8M | Pro-rata in Series B extension |
MOIC is (realized + unrealized) / invested, blended across the book as the ratio of the sums rather than the average of the ratios — averaging would weight a small write-off the same as a large winner. Unrealized value is the latest recorded mark for the selected quarter; NSight never proposes one. 1 of 3 positions is realized out, and its holding period stops at the exit. There is deliberately no IRR: the dates in this book are too sparse to make one honest, and a wrong IRR is worse than none.