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Valuation Pack
ScopeNSNS SBIC FundShow whole portfolio
QuarterQ2 2026
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.
Reconciliation · Incomplete
2 areas are open for this quarter.
Regulatory trial balance · 15 fields need attention
These fund-level items have no posted value or supported account mapping for this quarter.
View the 15 affected fields
| Regulatory item | Needed |
|---|---|
| Licensee Type | Value and account mapping |
| Regulatory Capital | Value and account mapping |
| Treasury Stock | Value and account mapping |
| Leverageable Capital | Value and account mapping |
| Outstanding Leverage | Value and account mapping |
| Undistributed Net Realized Earnings | Value and account mapping |
| Includible Non Cash Gains | Value and account mapping |
| Equity Capital Investments At Cost Pct | Value and account mapping |
| Unrealized Appreciation Class1 | Value and account mapping |
| Unrealized Appreciation Class2 | Value and account mapping |
| Unrealized Appreciation Other | Value and account mapping |
| Unrealized Depreciation | Value and account mapping |
| Estimated Future Tax On Gains | Value and account mapping |
| Borrowings Against Pledged Appreciated Securities | Value and account mapping |
| Filed Capital Impairment Pct | Value and account mapping |
ACCOUNTING TERMS MISSING · 7 items
Loan lacks sourced supported accounting terms.
Review affected items and evidence
BluePeak Healthcare Solutions · Unitranche · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Brakeholt Engineered Products Co. · Unitranche · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Grainmoor Food Distribution · Senior Term Loan · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Havenmark Logistics Group · Senior Term Loan · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Kilnbrace Specialty Products · Senior Term Loan · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Meridian Industrial Services · Senior Term Loan · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Summit Software Holdings · Unitranche · Source Evidence
Loan lacks sourced supported accounting terms.
2026-06-30
Source evidence
null
Evidence coverage by holding (10)
| Holding | Financial evidence | Covenant evidence | Accounting |
|---|---|---|---|
| BluePeak Healthcare Solutions · Unitranche | supported | supported | missing · Missing sourced loan terms. |
| Brakeholt Engineered Products Co. · Unitranche | supported | supported | missing · Missing sourced loan terms. |
| Grainmoor Food Distribution · Senior Term Loan | supported | supported | missing · Missing sourced loan terms. |
| Havenmark Logistics Group · Senior Term Loan | supported | supported | missing · Missing sourced loan terms. |
| Kilnbrace Specialty Products · Equity Co Invest | supported | not applicable | not applicable · Loan carrying calculations do not apply. |
| Kilnbrace Specialty Products · Senior Term Loan | supported | supported | missing · Missing sourced loan terms. |
| Meridian Industrial Services · Equity Co Invest | supported | not applicable | not applicable · Loan carrying calculations do not apply. |
| Meridian Industrial Services · Senior Term Loan | supported | supported | missing · Missing sourced loan terms. |
| Summit Software Holdings · Equity Co Invest | supported | not applicable | not applicable · Loan carrying calculations do not apply. |
| Summit Software Holdings · Unitranche | supported | supported | missing · Missing sourced loan terms. |
Audit details · 37 unresolved checks, sources and calculation version
Dependency hash: 04ffc7c81f69f4ae5c0cd8102d951bd23ce88a6c80a7ee019020f5baf07aca8b
11 source references recorded, each tied to its document and cell.
GAAP to SBA bridge
Synthetic demoNSNS SBIC Fund · 10 positions · USD · 0 rows with missing inputs. Incomplete totals are Not known.
Fund valuation policy
CM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate
| Position | GAAP | Less appreciation above cost | Other difference to filed SBA | Filed SBA | Cost | SBA depreciation | Reported − computed depreciation |
|---|---|---|---|---|---|---|---|
| BluePeak Healthcare Solutions Unitranche | $22,000,000.00 | $0.00 | $0.00 | $22,000,000.00 | $22,000,000.00 | $0.00 | $0.00 |
| Brakeholt Engineered Products Co. Unitranche | $11,400,000.00 | $0.00 | $0.00 | $11,400,000.00 | $12,000,000.00 | $600,000.00 | $0.00 |
| Grainmoor Food Distribution Senior Term Loan | $10,200,000.00 | $0.00 | $0.00 | $10,200,000.00 | $12,000,000.00 | $1,800,000.00 | $0.00 |
| Havenmark Logistics Group Senior Term Loan | $8,400,000.00 | $0.00 | $0.00 | $8,400,000.00 | $14,200,000.00 | $5,800,000.00 | $0.00 |
| Kilnbrace Specialty Products Equity Co-Invest | $0.00 | $0.00 | $0.00 | $0.00 | $1,500,000.00 | $1,500,000.00 | $0.00 |
| Kilnbrace Specialty Products Senior Term Loan | $6,100,000.00 | $100,000.00 | $0.00 | $6,000,000.00 | $6,000,000.00 | $0.00 | $0.00 |
| Meridian Industrial Services Equity Co-Invest | $2,900,000.00 | $400,000.00 | $0.00 | $2,500,000.00 | $2,500,000.00 | $0.00 | $0.00 |
| Meridian Industrial Services Senior Term Loan | $18,200,000.00 | $200,000.00 | $0.00 | $18,000,000.00 | $18,000,000.00 | $0.00 | $0.00 |
| Summit Software Holdings Equity Co-Invest | $4,600,000.00 | $1,600,000.00 | $0.00 | $3,000,000.00 | $3,000,000.00 | $0.00 | $0.00 |
| Summit Software Holdings Unitranche | $17,500,000.00 | $1,500,000.00 | $0.00 | $16,000,000.00 | $16,000,000.00 | $0.00 | $0.00 |
| Fund total | $101,300,000.00 | $3,800,000.00 | $0.00 | $97,500,000.00 | $107,200,000.00 | $9,700,000.00 | $0.00 |
GAAP → SBA
- GAAP
- $101,300,000.00
- Less appreciation above cost
- $3,800,000.00
- Other difference to filed SBA
- $0.00
- Filed SBA
- $97,500,000.00
GAAP − appreciation above cost + other difference = filed SBA.
Cost → SBA
- Cost
- $107,200,000.00
- Less SBA depreciation
- $9,700,000.00
- Cost less depreciation
- $97,500,000.00
- Filed SBA
- $97,500,000.00
Cost-to-SBA tie: Ties.
Depreciation → capital impairment
Not known — no stored capital run for this fund and quarter.
Position valuations
Synthetic demoNSNS SBIC Fund · 10 positions · USD. Reviewed SBA values are shown separately from filed values.
Expand a position for findings, prior values and sources.| Position | SBA cost | Filed SBA | Reviewed SBA | Reported GAAP | Review findings | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BluePeak Healthcare Solutions · Unitranche Unitranche | $22,000,000.00 | $22,000,000.00 | Missing | $22,000,000.00 | No calculation flags | |||||||||||||||
Review details for BluePeak Healthcare Solutions · UnitrancheAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $0.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Brakeholt Engineered Products Co. · Unitranche Unitranche | $12,000,000.00 | $11,400,000.00 | Missing | $11,400,000.00 | No calculation flags | |||||||||||||||
Review details for Brakeholt Engineered Products Co. · UnitrancheAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $600,000.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Grainmoor Food Distribution · Senior Term Loan Senior Term Loan | $12,000,000.00 | $10,200,000.00 | Missing | $10,200,000.00 | No calculation flags | |||||||||||||||
Review details for Grainmoor Food Distribution · Senior Term LoanAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $1,800,000.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Havenmark Logistics Group · Senior Term Loan Senior Term Loan | $14,200,000.00 | $8,400,000.00 | Missing | $8,400,000.00 | No calculation flags | |||||||||||||||
Review details for Havenmark Logistics Group · Senior Term LoanAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $5,800,000.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Kilnbrace Specialty Products · Equity Co-Invest Equity Co-Invest | $1,500,000.00 | $0.00 | Missing | $0.00 | No calculation flags | |||||||||||||||
Review details for Kilnbrace Specialty Products · Equity Co-InvestAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $1,500,000.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Kilnbrace Specialty Products · Senior Term Loan Senior Term Loan | $6,000,000.00 | $6,000,000.00 | Missing | $6,100,000.00 | No calculation flags | |||||||||||||||
Review details for Kilnbrace Specialty Products · Senior Term LoanAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $0.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Meridian Industrial Services · Equity Co-Invest Equity Co-Invest | $2,500,000.00 | $2,500,000.00 | Missing | $2,900,000.00 | No calculation flags | |||||||||||||||
Review details for Meridian Industrial Services · Equity Co-InvestAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $0.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Meridian Industrial Services · Senior Term Loan Senior Term Loan | $18,000,000.00 | $18,000,000.00 | Missing | $18,200,000.00 | No calculation flags | |||||||||||||||
Review details for Meridian Industrial Services · Senior Term LoanAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $0.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Summit Software Holdings · Equity Co-Invest Equity Co-Invest | $3,000,000.00 | $3,000,000.00 | Missing | $4,600,000.00 | No calculation flags | |||||||||||||||
Review details for Summit Software Holdings · Equity Co-InvestAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $0.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
| ||||||||||||||||||||
| Summit Software Holdings · Unitranche Unitranche | $16,000,000.00 | $16,000,000.00 | Missing | $17,500,000.00 | No calculation flags | |||||||||||||||
Review details for Summit Software Holdings · UnitrancheAccounting values
Quarter movements
GAAP to SBA bridgeCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate GAAP → SBA
GAAP − appreciation above cost + other difference = filed SBA. Cost → SBA
Cost-to-SBA tie: Ties. Reported − computed depreciation: $0.00. This position contributes $0.00 of SBA depreciation to the fund total used in capital impairment. Valuation methodCM-SBA-1: lower of reviewed cost and original approved GAAP appraisal; no elected appreciation; original GAAP remains separate Source references
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