New Mountain Guardian IV BDC, L.L.C. 8-K

What Happened
New Mountain Guardian IV BDC, L.L.C. filed a Form 8-K on May 12, 2026 under Regulation FD to disclose its consolidated schedule of investments and how those investments are classified by industry. The company reports portfolio allocations as of March 31, 2026, using 11 industry types with further internal sub-classifications to reflect each portfolio company’s business mix.

Key Details

• The portfolio is grouped into 11 industry types; top group exposures by fair value as of March 31, 2026:
  • Business Services: 36.1%
  • Software: 28.5%
  • Financial Services & Technology: 14.7%
  • Healthcare: 10.6%
• Largest individual sub-classifications include Insurance & Benefits Services at 10.6% and Enterprise Resource Planning (ERP) at 9.1%.
• Remaining allocations: Consumer Services 5.0%, Education 2.1%, Business Products 1.2%, Food & Beverage 0.7%, Packaging 0.7%, Distribution & Logistics 0.3%, Investment Fund 0.1%.
• The filing also included the standard Inline XBRL cover page exhibit.

Why It Matters
This disclosure gives investors a clear snapshot of the fund’s sector concentration and risk profile as of Q1 2026. High concentrations in Business Services and Software (combined ~64.6%) indicate where performance and valuation risk may be concentrated; smaller allocations across other sectors show limited diversification beyond those areas. Retail investors can use these figures to assess sector exposure relative to their own risk tolerance or to compare to peer BDCs and broader benchmarks.