Varagon Capital Corp

CIK 0001784700Varagon

Varagon Capital Corp is a non-traded business development company advised by Varagon. With $896 million in total assets, it is one of the smaller funds in the coverage universe. The portfolio is concentrated in direct lending, with 78% in first-lien senior secured loans and 78% in floating-rate debt by fair value, at a weighted-average spread of 559 bps over the base rate. Its largest sector exposure is Health Care (11% of holdings).

NAV/Share

$9.23

AUM

$895.8M

Positions

454

Strategy

Private Credit

Wtd. Avg. Coupon

9.4%

Wtd. Avg. Spread

6 bps

Wtd. Avg. Maturity

5.0 yrs

99% coverage

Top 10 Concentration

32.6%

PIK in Terms

8.8%

Instrument type

Share of portfolio fair value

First Lien

78%

of fair value

First Lien77.9%

Equity1.0%

Fund Vehicles20.9%

Other0.1%

Industry exposure

Share of holdings fair value

Top 5

96%

of holdings

Health Care11.2%

Industrials4.3%

Consumer Discretionary2.6%

Consumer Staples2.1%

Materials1.8%

Information Technology1.0%

Energy1.0%

Other0.0%

Financials0.0%

Unknown76.0%

Unknown sector positions lack GICS classification in the source filing or could not be reconciled.

Maturity profile

Share of debt fair value by years to maturity.