This page provides access to Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) SEC filings, offering detailed insight into the company’s operations as a specialty finance business and business development company. NCDL focuses primarily on investing in senior secured loans to private equity-owned U.S. middle market companies and reports extensively on these activities in its regulatory documents.
Through its annual reports on Form 10-K and quarterly reports on Form 10-Q, NCDL discloses investment income, expenses, net investment income, and realized and unrealized gains and losses on its portfolio of non-controlled, non-affiliated company investments. These filings also describe the composition of the portfolio by first-lien debt, subordinated debt, and equity investments, as well as internal risk ratings, non-accrual positions, and net asset value per share.
Current reports on Form 8-K, such as those furnished in connection with quarterly earnings releases, provide timely updates on results of operations and financial condition. They often include attached press releases and earnings presentations as exhibits, giving additional context on portfolio performance, leverage, liquidity, and distribution declarations.
Investors can also use NCDL’s SEC filings to track information about its capital structure, including secured borrowings, unsecured notes offerings, revolving credit facilities, and debt-to-equity metrics. Disclosures about advisory arrangements, management fees, and incentive fee waivers are set out in the notes to the financial statements and related sections of these reports.
On Stock Titan, NCDL’s filings are paired with AI-powered summaries that highlight key points from lengthy documents, helping readers quickly understand the main drivers of performance, changes in portfolio composition, and important risk disclosures without having to parse every line of the original filings.
Nuveen Churchill Direct Lending Corp. (NCDL) reported third-quarter net investment income of $18.776 million ($0.38 per share), versus $21.386 million in the year-earlier quarter. Net increase in net assets from operations was $15.991 million ($0.32 per share), compared with $18.658 million. Investment income was $43.674 million, versus $51.106 million. Net asset value was $17.13 per share at September 30, 2026, compared with $17.19 at June 30, 2026.
The board declared a fourth-quarter distribution of $0.38 per share, comprising $0.36 regular and $0.02 supplemental, payable on or around January 28, 2027 to shareholders of record as of December 31, 2026. From October 1, 2026 through October 30, 2026, NCDL repurchased 278,294 shares for approximately $3.0 million under its 10b5-1 plan.
At September 30, the portfolio’s fair value was $1.862 billion across 258 companies; nine companies were on non-accrual, representing 1.5% of fair value. Cash and cash equivalents were $39.1 million, and $216.0 million was available for additional revolving-credit borrowings, subject to borrowing-base and other conditions. NCDL formed NCDL Senior Loan Fund I LLC during the quarter.
Nuveen Churchill Direct Lending Corp. (NCDL) reported third-quarter 2026 total investment income of $43.674 million, compared with $51.106 million in the third quarter of 2025. Net investment income was $18.776 million versus $21.386 million, and net increase in net assets resulting from operations was $15.991 million versus $18.658 million. For the nine months ended September 30, 2026, net investment income was $59.041 million versus $71.694 million, and the net increase in net assets resulting from operations was $28.272 million versus $49.695 million. Net realized and unrealized losses on investments for the nine months were $30.769 million, compared with $21.999 million.
At September 30, 2026, investments had a fair value of $1,862.013 million and total assets were $1,921.354 million. Debt, net of deferred financing costs and unamortized discount, was $1,027.584 million, compared with $1,115.052 million at December 31, 2025. Net assets were $846.188 million, or $17.13 per share, compared with $875.180 million, or $17.72 per share, at year-end. Net cash provided by operating activities for the nine months was $110.897 million, versus $165.589 million a year earlier, and declared shareholder distributions were $57.264 million versus $72.784 million.
Nuveen Churchill Direct Lending Corp. (NCDL) reported insider activity by Chief Financial Officer and Treasurer Shaul Vichness. On September 14, 2026, a trust associated with him purchased 5,000 shares of common stock at $12.25 per share, held as indirect ownership by the trust.
Earlier, on July 27, 2026, he acquired 431.156 shares of common stock directly through the company’s Dividend Reinvestment Plan (DRIP), bringing his directly held shares to 14,491.926. After the September purchase, the trust’s indirect holdings rose to 36,646.796 shares. No Rule 10b5-1 trading plan is reported.
Nuveen Churchill Direct Lending Corp. reported second‑quarter 2026 net investment income of $20.2 million, or $0.41 per share, on investment income of $44.3 million versus $53.1 million a year earlier. After $11.3 million of realized losses and $5.4 million of net unrealized losses, the net increase in net assets from operations was $3.6 million, or $0.07 per share. Net asset value per share was $17.19, down from $17.50 at March 31, 2026.
The board declared a third‑quarter 2026 distribution of $0.38 per share (regular $0.36 plus $0.02 supplemental), matching the total paid for the second quarter on July 28, 2026. The investment portfolio totaled $1.9 billion at fair value across 244 companies and was 89.6% first‑lien debt, 7.3% subordinated debt and 3.1% equity. Investments in nine portfolio companies were on non‑accrual status, representing 1.5% of total investments at fair value.
As of June 30, 2026, the company held $45.8 million in cash and cash equivalents, $1.1 billion of debt and $849.0 million of net assets, for a debt‑to‑equity ratio of 1.29x (1.23x net). Subsequent actions included redeeming a $297.9 million CLO at par with $302.5 million of proceeds, forming a joint venture with an institutional investor, and issuing an additional $100 million of 2030 Notes alongside a $100 million interest‑rate swap.
Nuveen Churchill Direct Lending Corp. issued an additional $100.0 million in aggregate principal amount of its 6.650% Notes due 2030, under an underwriting agreement with SMBC Nikko Securities America, Inc.
These additional notes form a single series with the existing $300.0 million of 6.650% Notes due 2030, bringing total 2030 Notes outstanding to $400.0 million. The notes pay interest semi-annually and mature on March 15, 2030, with an issuer call option before February 15, 2030 at par plus a make-whole premium.
The company intends to use net proceeds to repay a portion of its senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation, with the ability to re-borrow under that facility for investments and general corporate purposes. The notes are direct unsecured obligations and rank pari passu with other unsubordinated unsecured debt and are effectively and structurally subordinated as described in the Indenture.
Nuveen Churchill Direct Lending Corp. is offering $100,000,000 aggregate principal amount of additional 6.650% Notes due March 15, 2030, as a further issuance that will form a single series with the $300,000,000 Existing Notes, bringing the outstanding principal to $400,000,000. The Notes bear interest at 6.650% payable semi-annually on March 15 and September 15 and are unsecured obligations ranking pari passu with our other senior unsecured indebtedness. Net proceeds are intended to repay amounts outstanding under the Company’s Revolving Credit Facility.
Nuveen Churchill Direct Lending Corp. intends to offer an additional issuance of its 6.650% Notes due March 15, 2030, which will form a single series and be fungible with the $300,000,000 principal amount of 6.650% notes issued on January 22, 2025. The prospectus supplement states the proceeds are intended to be used to repay amounts outstanding under the Revolving Credit Facility, with subsequent re-borrowings available to support new investments in accordance with the company’s investment strategy.
Nuveen Churchill Direct Lending Corp. vice president and secretary John McCally bought 7,500 shares of common stock in an open-market purchase at $13.27 per share. After this transaction, he directly holds 15,245 shares, including 315 shares acquired through the company’s Dividend Reinvestment Plan.