Nuveen Churchill Direct Lending Corp 2025年度报告

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of thischapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See thedefinitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting underSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an errorto previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executiveofficers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YesNo The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, on June30, 2025, based on the closing price of $16.19 per share on the NewYork Stock Exchange, was approximately $691.9 million. As of February25, 2026, the registrant had 49,387,065 shares of common stock, $0.01 par value, outstanding. Documents Incorporated by Reference Portions of the registrant’s definitive proxy statement relating to the registrant’s2026annual meeting of shareholders to be filed with the Securities and Exchange Commission within 120days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference into Part III of this Form 10-K as indicated herein. TABLE OF CONTENTS PART I BusinessRisk FactorsUnresolved Staff CommentsCybersecurityPropertiesLegal ProceedingsMine Safety Disclosures Item 1.Item 1A.Item 1B.Item 1C.Item 2.Item 3.Item 4. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity SecuritiesReservedManagement's Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskConsolidated Financial Statements and Supplementary DataReport of Independent Registered Public Accounting FirmConsolidated Statements of Assets and Liabilities as of December 31, 2025 and 2024Consolidated Statements of Operations for the Years Ended December 31, 2025, 2024 and 2023Consolidated Statements of Changes in Net Assets for the Years Ended December 31, 2025, 2024 and 2023Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024 and 2023Consolidated Schedules of Investments for the Years Ended December 31, 2025 and 2024Notes to Consolidated Financial StatementsChanges in and Disagreements with Accountants on Accounting and Financial DisclosureControls and ProceduresOther InformationDisclosure Regarding Foreign Jurisdictions that Prevent Inspections Directors, Executive Officers and Corporate GovernanceExecutive CompensationSecurity Ownership of Certain Beneficial Owners and Management and Related Shareholder MattersCertain Relationships and Related Transactions, and Director IndependencePrincipal Accountant Fees and Services Exhibit and Financial Statement SchedulesForm 10-K Summary FORWARD-LOOKING STATEMENTS This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and otherfactors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on our current expectations and estimates, ourcurrent and prospective portfolio investments, our industry, our