license: other
license_name: tensorust-sample-license
license_link: https://tensorust.com/datasets/bdc-software-borrower-exposure/
pretty_name: Private Credit Software Exposure (free sample)
language:
- en
tags:
- tensorust
- sample
- private-credit-and-finance
- government-data
- finance
size_categories:
- n<1K
configs:
- config_name: sample
data_files:
- split: train
path: sample.csv
- config_name: summary
data_files:
- split: train
path: summary_by_software_basis.csv
Private Credit Software Exposure: free sample (Tensorust LLC)
Every BDC loan to a software or IT borrower, with marks, mark trends and which lenders hold the most.
Headline: Software is private credit's largest sector, and AI tools put many SaaS revenue models at risk.
This repository is a free teaser, not the dataset. It holds 25 example rows and a summary table with no names in it. The full file has 6,860 rows and is sold by Tensorust LLC: https://tensorust.com/datasets/bdc-software-borrower-exposure/.
Files here
| file | what it is |
|---|---|
sample.csv |
25 rows of the full file (the same sample shown on tensorust.com) |
summary_by_software_basis.csv |
row counts and totals by software basis across the full file, no entity names (groups with fewer than 3 rows are folded into "Other") |
Summary by software basis (largest groups)
| Software basis | rows | Principal (USD) | Fair value (USD) |
|---|---|---|---|
| tagged software or IT by this BDC | 3,947 | 47,205,482,885 | 41,428,380,464 |
| tagged software or IT by another BDC holding the borrower | 2,913 | 54,921,380,589 | 49,453,976,295 |
| TOTAL | 6,860 | 102,126,863,474 | 90,882,356,759 |
Full table: summary_by_software_basis.csv.
What the full file has
- 6,860 rows
- Key fields: software_basis, below_90, bdc, cik, fam, company, ckey, name_source, kind, ident
- Parquet and CSV, a README with sources, method and limits, and the build script
- Free 25-row sample (no personal contact data)
Coverage: Positions of $100K or more principal in 174 Jun 30 2026 BDC filings where the BDC's industry text or tag, or another lender's tag for the same borrower, says software or IT. Jun 30 2026 schedules; built Nov 6 2026
Columns in the full file
| column | meaning |
|---|---|
software_basis |
Why the position counts as software or IT |
below_90 |
Funded term debt bought near par marked under 90% of par |
bdc |
BDC (fund) name |
cik |
BDC SEC CIK |
fam |
Manager family |
company |
Borrower name (cross-manager vote or XBRL issuer) |
ckey |
Borrower key used to match lenders |
name_source |
How the borrower name was found |
kind |
Instrument kind (first lien or senior, second lien, subordinated, revolver or delayed draw, other) |
ident |
Investment identifier as filed |
sector_tag |
Industry tag where the BDC tagged one |
principal |
Principal (par) USD |
cost |
Amortized cost USD |
fv |
Fair value USD |
mark |
Fair value divided by principal |
fv_to_cost |
Fair value divided by cost |
cost_ratio |
Cost divided by principal |
mark_q1 |
Same position's mark at Mar 31 2026 |
mark_change_q1_q2 |
Mark change Mar 31 to Jun 30 2026 |
spread |
Spread over base rate |
rate |
Interest rate |
pik |
PIK rate where tagged |
pik_flag |
PIK tagged or named in the identifier |
maturity_date |
Maturity date |
maturity_source |
XBRL maturity tag or parsed from the identifier |
acq_date |
Acquisition date |
affil |
Affiliation (control or affiliate) where tagged |
lenders_bdcs |
BDCs holding debt of the same borrower |
lenders_families |
Manager families holding the same borrower |
lender_bdcs |
Names of BDCs holding the borrower (up to 12) |
borrower_principal_all_bdcs |
Principal across all BDCs for the borrower |
borrower_fv_all_bdcs |
Fair value across all BDCs |
borrower_min_mark |
Lowest mark any BDC carries |
borrower_max_mark |
Highest mark any BDC carries |
borrower_ontology_oid |
Tensorust ontology organization id (name match) |
filed |
Filing date |
url |
SEC filing (inline XBRL) |
Get the full file
| tier | price | includes |
|---|---|---|
| Software exposure dataset | $2,500 | All 6,860 BDC positions in software and IT borrowers at Jun 30 2026 with fair value, mark, Q1 mark, spread, maturity, lender concentration and every other BDC in the borrower, plus a lender roll-up. |
| Quarter-close license | $7,500 a year | Rebuilt every quarter as filings post, with mark changes, new software borrowers and the AI-disruption watch list (software borrowers marked down quarter over quarter) flagged. |
| Fund license | $30,000 a year | Quarterly rebuilds plus the full BDC position table and borrower history, for hedge funds, LPs and allocators sizing AI substitution risk in private credit. One firm, unlimited seats. |
Email mattbusel@tensorust.com with the tier and a billing contact, and we will send a proper invoice (ACH or card). The file is delivered once the invoice is paid. Details and the live sample: https://tensorust.com/datasets/bdc-software-borrower-exposure/. All datasets: https://tensorust.com/datasets/
Method and limits
Tag a position software when its identifier or industry tag matches software, SaaS or IT terms, extend the tag to every position in the same borrower, attach Q1 marks and the cross-lender view.
Not a full sector classification (BDCs that file no industry text are only caught through another lender's tag), not an AI-risk score for any borrower, not investment advice. No personal data.
Sources
- SEC DERA Business Development Company Data Sets, schedule of investments (soi.tsv) and financial statements (num.tsv), May to Oct 2026 monthly files
- Tensorust cross-lender borrower matching (newdata/bdc/bdc_marks.py method)
- Tensorust ontology (borrower name join)
- newdata/ai_economy/FINDINGS.md (Tensorust AI substitution research) for context
License
The sample and summary here are free to view, analyze and cite with attribution to "Tensorust LLC, https://tensorust.com/datasets/bdc-software-borrower-exposure/". The full dataset is licensed separately per tier. No resale or redistribution of Tensorust data without a written license.
Tensorust LLC, Tuckahoe NY. mattbusel@tensorust.com | https://tensorust.com