On Our Radar · February 23, 2026

Software & Tech Exposure in Leveraged Credit

By Sardis Group

Today, we want to share the below chart that breaks down exposures to software and technology across various subsectors of leveraged credit. This topic has been a major discussion point in meetings lately.

Software and Tech Exposure Across Leveraged Credit — Source: PitchBook | LCD, Morningstar, S&P Global, ICE BofA, Morgan Stanley Research

It’s hard not to compare to the rise of energy exposure within the high yield market between 2010–2014.

HY Exposure To Energy, 2010 to 2018 — Source: ICE BofA, Morgan Stanley Research

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Important Disclosures

This is neither an offer to sell nor a solicitation to purchase any security. Investors should consider the investment objectives, risks, charges and expenses of the Sardis Credit Opportunities Fund (“Fund”) carefully before investing. This and other information are contained in the Fund’s prospectus, which may be obtained by contacting your financial professional, calling 404-282-5552, or visiting www.sardisgroup.com.

Information speaks as of the date hereof and is subject to change at any time without prior notice. Any discussion about the market and economic environment, including our opinions and expectations related thereto, represents an assessment at a specific point in time taking into account all information currently available to us and is not intended to be a forecast of future events nor a guarantee of future results.

This material includes information which has been obtained from unaffiliated third parties and does not necessarily reflect the views and opinions of Sardis Group. Although obtained from sources believed to be reliable, Sardis Group has not independently verified and does not guarantee the accuracy, correctness or completeness of such information, nor is such information intended to be used as a primary basis for investment decisions.

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