- What are the top holdings of NCDL?
- A machine-readable holdings disclosure for Nuveen Churchill Direct Lending Corp. (NCDL) is not available from our data sources — fund families sometimes register portfolio filings under a sibling share class or outside the SEC's structured datasets. Rather than estimate, we leave the section blank; the issuer's website carries the authoritative portfolio list.
- What sectors does NCDL invest in?
- Nuveen Churchill Direct Lending Corp. (NCDL) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.
- What sector is NCDL most exposed to?
- NCDL's full sector breakdown is on the Sectors tab. The largest sector weight is shown there along with the rest of the allocation.
- Is NCDL a US-only fund?
- The country allocation card on this page shows NCDL's geographic exposure. Funds with > 95% US weight are effectively US-only; international or global funds will show meaningful weights across multiple countries.
- What does NCDL invest in?
- Nuveen Churchill Direct Lending Corp. (NCDL), initially formed as a Delaware limited liability company on March 13, 2018, and subsequently restructured into a Maryland corporation on June 18, 2019, prior to commencing its business activities, operates as a closed-end, externally managed, non-diversified investment company. It has chosen to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940, as amended. The firm's principal investment goal is to generate appealing risk-adjusted returns, primarily through current income. This is achieved by predominantly investing in senior secured loans provided to private equity-backed U.S. middle market companies, which NCDL identifies as enterprises with annual earnings before interest, taxes, depreciation, and amortization (EBITDA) generally ranging from $10.0 million to $100.0 million. Its portfolio will largely comprise what it refers to as "Senior Loans," primarily consisting of privately originated first-lien senior secured debt and unitranche loans (excluding "last-out" positions) to these performing U.S. middle market businesses. Additionally, the company selectively pursues "Junior Capital Investments," which include instruments such as second-lien loans, subordinated debt, last-out unitranche loan positions, and various equity-related securities.
