Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 441

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 441
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0.5 million and $1.6 million, respectively, for the three and nine months then ended. As of September 30, 2025, our investment in National HME had an Orange Risk Rating.

During the second quarter of 2024, we placed our investment in our junior preferred shares in Eclipse Topco Holdings, Inc. (fka Transcendia Holdings, Inc.) ("Transcendia") on non-accrual status. As of September 30, 2025, our junior preferred shares in Transcendia had an aggregate cost basis of $2.6 million, an aggregate fair value of $2.7 million and total unearned income of $0.1 million and $0.3 million, respectively, for the three and nine months then ended. As of September 30, 2025, our investment in Transcendia had a Green Risk Rating.

During the third quarter of 2025, we placed our first lien term loans in Notorious Topco, LLC ("BIG") on non-accrual status. As of  September 30, 2025, our positions in BIG had an aggregate cost basis of $21.8 million, and aggregate fair value of $13.7 million and total and total unearned income of $0.9 million and $0.9 million, respectively, for the three and nine months then ended. As of September 30, 2025, our investment in BIG had a Red Risk Rating.

127

During the year ended December 31, 2019, our security purchased under collateralized agreements to resell was placed on non-accrual. As of September 30, 2025, our investment in this security had a Yellow Risk Rating and had an aggregate cost basis of $30.0 million and an aggregate fair value of approximately $13.5 million.

Portfolio and Investment Activity

The fair value of our investments, as determined in good faith by our board of directors, was approximately $2,943.6 million in 126 portfolio companies at September 30, 2025 and approximately $3,091.0 million in 120 portfolio companies at December 31, 2024.

The following table shows our portfolio and investment activity for the nine months ended September 30, 2025 and September 30, 2024:

 Nine Months Ended(in millions)September 30, 2025September 30,