Here are the 10-Q quarterly reports from Nuveen Churchill Direct Lending Corp (NCDL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NCDL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NCDL filings page.
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. reports softer results for the quarter ended September 30, 2025. Total assets were $2.04 billion, down from $2.14 billion at December 31, 2024, with investment portfolio fair value of $1.97 billion versus cost of $1.999 billion. Debt outstanding was $1.11 billion, supporting a diversified loan book across sectors such as automotive, food and beverage, construction, and business services.
Net asset value was $881.5 million, down from $970.3 million, and NAV per share slipped to $17.85 from $18.18 as shares outstanding fell to 49.4 million from 53.4 million. For the quarter, net investment income was $21.4 million versus $31.5 million a year earlier, while net increase in net assets from operations was $18.7 million versus $36.6 million, reflecting lower interest income and higher net realized and unrealized losses on investments. The company paid $22.2 million of distributions in the quarter and generated $165.6 million of operating cash flow over the first nine months of 2025.