☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
CĪON Investment Corporation | ||||||||
(Exact name of registrant as specified in its charter) |
Maryland | 45-3058280 | |||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
New York, New York | ||||||||
(Address of principal executive offices) | (Zip Code) |
(212) 418-4700 | ||||||||
(Registrant’s telephone number, including area code) | ||||||||
(Former name, former address and former fiscal year, if changed since last report) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Common stock, par value $0.001 per share | CION | The New York Stock Exchange |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||||||||||||||||
Non-accelerated filer | ☒ | Smaller reporting company | ☐ | |||||||||||||||||
Emerging growth company | ☐ |
Page | ||||||||
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||
Investments, at fair value: | Investments, at fair value: | Investments, at fair value: | ||||||||||||||||||||||||||
Non-controlled, non-affiliated investments (amortized cost of $1,660,187 and $1,617,126, respectively) | $ | 1,601,753 | $ | 1,581,124 | ||||||||||||||||||||||||
Non-controlled, affiliated investments (amortized cost of $131,439 and $91,476, respectively) | 113,554 | 81,490 | ||||||||||||||||||||||||||
Non-controlled, non-affiliated investments (amortized cost of $1,629,044 and $1,617,126, respectively) | Non-controlled, non-affiliated investments (amortized cost of $1,629,044 and $1,617,126, respectively) | $ | 1,567,403 | $ | 1,581,124 | |||||||||||||||||||||||
Non-controlled, affiliated investments (amortized cost of $138,586 and $91,476, respectively) | Non-controlled, affiliated investments (amortized cost of $138,586 and $91,476, respectively) | 142,202 | 81,490 | |||||||||||||||||||||||||
Controlled investments (amortized cost of $84,347 and $83,702, respectively) | Controlled investments (amortized cost of $84,347 and $83,702, respectively) | 90,145 | 91,425 | Controlled investments (amortized cost of $84,347 and $83,702, respectively) | 97,443 | 91,425 | ||||||||||||||||||||||
Total investments, at fair value (amortized cost of $1,875,973 and $1,792,304, respectively) | 1,805,452 | 1,754,039 | ||||||||||||||||||||||||||
Total investments, at fair value (amortized cost of $1,851,977 and $1,792,304, respectively) | Total investments, at fair value (amortized cost of $1,851,977 and $1,792,304, respectively) | 1,807,048 | 1,754,039 | |||||||||||||||||||||||||
Cash | Cash | 42,542 | 3,774 | Cash | 43,661 | 3,774 | ||||||||||||||||||||||
Interest receivable on investments | Interest receivable on investments | 21,962 | 21,549 | Interest receivable on investments | 26,976 | 21,549 | ||||||||||||||||||||||
Receivable due on investments sold and repaid | Receivable due on investments sold and repaid | 2,713 | 2,854 | Receivable due on investments sold and repaid | 7,146 | 2,854 | ||||||||||||||||||||||
Prepaid expenses and other assets | Prepaid expenses and other assets | 2,112 | 466 | Prepaid expenses and other assets | 841 | 466 | ||||||||||||||||||||||
Total assets | Total assets | $ | 1,874,781 | $ | 1,782,682 | Total assets | $ | 1,885,672 | $ | 1,782,682 |
Liabilities and Shareholders' Equity | Liabilities and Shareholders' Equity | Liabilities and Shareholders' Equity | ||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||
Financing arrangements (net of unamortized debt issuance costs of $7,849 and $7,628, respectively) | $ | 939,651 | $ | 822,372 | ||||||||||||||||||||||||
Financing arrangements (net of unamortized debt issuance costs of $7,014 and $7,628, respectively) | Financing arrangements (net of unamortized debt issuance costs of $7,014 and $7,628, respectively) | $ | 950,486 | $ | 822,372 | |||||||||||||||||||||||
Payable for investments purchased | Payable for investments purchased | 11,635 | 11,327 | Payable for investments purchased | — | 11,327 | ||||||||||||||||||||||
Accounts payable and accrued expenses | Accounts payable and accrued expenses | 1,194 | 1,922 | Accounts payable and accrued expenses | 1,853 | 1,922 | ||||||||||||||||||||||
Interest payable | Interest payable | 5,603 | 4,339 | Interest payable | 5,143 | 4,339 | ||||||||||||||||||||||
Accrued management fees | Accrued management fees | 6,839 | 6,673 | Accrued management fees | 6,943 | 6,673 | ||||||||||||||||||||||
Accrued subordinated incentive fee on income | Accrued subordinated incentive fee on income | 4,091 | 3,942 | Accrued subordinated incentive fee on income | 5,421 | 3,942 | ||||||||||||||||||||||
Accrued administrative services expense | Accrued administrative services expense | 530 | 1,595 | Accrued administrative services expense | 604 | 1,595 | ||||||||||||||||||||||
Share repurchases payable | Share repurchases payable | 316 | — | |||||||||||||||||||||||||
Total liabilities | Total liabilities | 969,543 | 852,170 | Total liabilities | 970,766 | 852,170 | ||||||||||||||||||||||
Commitments and contingencies (Note 4 and Note 11) | Commitments and contingencies (Note 4 and Note 11) | Commitments and contingencies (Note 4 and Note 11) | ||||||||||||||||||||||||||
Shareholders' Equity | Shareholders' Equity | Shareholders' Equity | ||||||||||||||||||||||||||
Common stock, $0.001 par value; 500,000,000 shares authorized; | ||||||||||||||||||||||||||||
56,958,440 and 56,958,440 shares issued and outstanding, respectively | 57 | 57 | ||||||||||||||||||||||||||
Common stock, $0.001 par value; 500,000,000 shares authorized; 56,373,217 | Common stock, $0.001 par value; 500,000,000 shares authorized; 56,373,217 | |||||||||||||||||||||||||||
and 56,958,440 shares issued and 56,262,964 and 56,958,440 shares outstanding, respectively | and 56,958,440 shares issued and 56,262,964 and 56,958,440 shares outstanding, respectively | 57 | 57 | |||||||||||||||||||||||||
Capital in excess of par value | Capital in excess of par value | 1,059,989 | 1,059,989 | Capital in excess of par value | 1,053,278 | 1,059,989 | ||||||||||||||||||||||
Accumulated distributable losses | Accumulated distributable losses | (154,808) | (129,534) | Accumulated distributable losses | (138,429) | (129,534) | ||||||||||||||||||||||
Total shareholders' equity | Total shareholders' equity | 905,238 | 930,512 | Total shareholders' equity | 914,906 | 930,512 | ||||||||||||||||||||||
Total liabilities and shareholders' equity | Total liabilities and shareholders' equity | $ | 1,874,781 | $ | 1,782,682 | Total liabilities and shareholders' equity | $ | 1,885,672 | $ | 1,782,682 | ||||||||||||||||||
Net asset value per share of common stock at end of period | Net asset value per share of common stock at end of period | $ | 15.89 | $ | 16.34 | Net asset value per share of common stock at end of period | $ | 16.26 | $ | 16.34 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment income | Investment income | Investment income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | Non-controlled, non-affiliated investments | Non-controlled, non-affiliated investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | Interest income | $ | 31,749 | $ | 30,167 | $ | 62,743 | $ | 56,269 | $ | 119,792 | Interest income | $ | 37,336 | $ | 31,036 | $ | 100,079 | $ | 87,305 | $ | 119,792 | ||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest income | Paid-in-kind interest income | 4,613 | 3,853 | 9,219 | 9,988 | 17,306 | Paid-in-kind interest income | 6,876 | 3,969 | 16,095 | 13,957 | 17,306 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fee income | Fee income | 2,554 | 880 | 3,503 | 1,813 | 5,927 | Fee income | 4,542 | 1,543 | 8,045 | 3,356 | 5,927 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend income | Dividend income | — | 91 | 46 | 173 | 366 | Dividend income | 57 | 81 | 103 | 254 | 366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlled, affiliated investments | Non-controlled, affiliated investments | Non-controlled, affiliated investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | Interest income | 1,545 | 1,041 | 2,568 | 2,442 | 4,961 | Interest income | 1,949 | 1,425 | 4,517 | 3,867 | 4,961 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest income | Paid-in-kind interest income | 874 | 1,056 | 2,319 | 1,879 | 3,160 | Paid-in-kind interest income | 1,174 | 776 | 3,493 | 2,655 | 3,160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fee income | Fee income | 13 | — | 506 | — | — | Fee income | 19 | — | 525 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend income | Dividend income | 53 | 933 | 53 | 1,760 | 5,576 | Dividend income | 13 | 3,790 | 66 | 5,550 | 5,576 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Controlled investments | Controlled investments | Controlled investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | Interest income | 1,742 | — | 3,869 | — | 260 | Interest income | 2,197 | — | 6,066 | — | 260 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest income | Paid-in-kind interest income | 409 | — | 409 | — | — | Paid-in-kind interest income | — | — | 409 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investment income | Total investment income | 43,552 | 38,021 | 85,235 | 74,324 | 157,348 | Total investment income | 54,163 | 42,620 | 139,398 | 116,944 | 157,348 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating expenses | Operating expenses | Operating expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Management fees | Management fees | 6,839 | 8,243 | 13,494 | 16,026 | 31,143 | Management fees | 6,942 | 8,443 | 20,436 | 24,469 | 31,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Administrative services expense | Administrative services expense | 781 | 697 | 1,501 | 1,381 | 3,069 | Administrative services expense | 733 | 722 | 2,234 | 2,103 | 3,069 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated incentive fee on income | Subordinated incentive fee on income | 4,091 | — | 8,224 | — | 6,875 | Subordinated incentive fee on income | 5,421 | 2,933 | 13,645 | 2,933 | 6,875 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative | General and administrative | 1,712 | 2,563 | 3,934 | 5,241 | 9,805 | General and administrative | 2,027 | 2,709 | 5,961 | 7,950 | 9,805 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | Interest expense | 10,841 | 7,828 | 19,300 | 15,376 | 31,807 | Interest expense | 13,469 | 8,175 | 32,769 | 23,551 | 31,807 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total operating expenses | Total operating expenses | 24,264 | 19,331 | 46,453 | 38,024 | 82,699 | Total operating expenses | 28,592 | 22,982 | 75,045 | 61,006 | 82,699 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income before taxes | Net investment income before taxes | 19,288 | 18,690 | 38,782 | 36,300 | 74,649 | Net investment income before taxes | 25,571 | 19,638 | 64,353 | 55,938 | 74,649 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Income tax expense, including excise tax | Income tax expense, including excise tax | — | 4 | 11 | 15 | 342 | Income tax expense, including excise tax | 14 | 26 | 25 | 41 | 342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income after taxes | Net investment income after taxes | 19,288 | 18,686 | 38,771 | 36,285 | 74,307 | Net investment income after taxes | 25,557 | 19,612 | 64,328 | 55,897 | 74,307 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized gains (losses) | Realized and unrealized gains (losses) | Realized and unrealized gains (losses) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gains (losses) on: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (losses) gains on: | Net realized (losses) gains on: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | Non-controlled, non-affiliated investments | 180 | 445 | 208 | 471 | (4,100) | Non-controlled, non-affiliated investments | 4,267 | 873 | 4,475 | 1,344 | (4,100) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlled, affiliated investments | Non-controlled, affiliated investments | — | — | (97) | (1,080) | 8,010 | Non-controlled, affiliated investments | (21,433) | 18,856 | (21,530) | 17,776 | 8,010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Controlled investments | Controlled investments | — | — | — | (3,067) | (3,067) | Controlled investments | — | — | — | (3,067) | (3,067) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency | Foreign currency | — | (4) | — | (11) | (3) | Foreign currency | (3) | 7 | (3) | (4) | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gains (losses) | 180 | 441 | 111 | (3,687) | 840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation on: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (losses) gains | Net realized (losses) gains | (17,169) | 19,736 | (17,058) | 16,049 | 840 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | Net change in unrealized appreciation (depreciation) on: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | Non-controlled, non-affiliated investments | (17,482) | 5,957 | (24,977) | 25,195 | 25,566 | Non-controlled, non-affiliated investments | (669) | 6,937 | (25,646) | 32,132 | 25,566 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlled, affiliated investments | Non-controlled, affiliated investments | (1,577) | 2,885 | (5,357) | 16,823 | 7,261 | Non-controlled, affiliated investments | 18,966 | (21,177) | 13,609 | (4,354) | 7,261 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Controlled investments | Controlled investments | (1,675) | — | (1,925) | 3,067 | 10,790 | Controlled investments | 7,298 | — | 5,373 | 3,067 | 10,790 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation | (20,734) | 8,842 | (32,259) | 45,085 | 43,617 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized (losses) gains | (20,554) | 9,283 | (32,148) | 41,398 | 44,457 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | $ | (1,266) | $ | 27,969 | $ | 6,623 | $ | 77,683 | $ | 118,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | Net change in unrealized appreciation (depreciation) | 25,595 | (14,240) | (6,664) | 30,845 | 43,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gains (losses) | Net realized and unrealized gains (losses) | 8,426 | 5,496 | (23,722) | 46,894 | 44,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in net assets resulting from operations | Net increase in net assets resulting from operations | $ | 33,983 | $ | 25,108 | $ | 40,606 | $ | 102,791 | $ | 118,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Per share information—basic and diluted(1) | Per share information—basic and diluted(1) | Per share information—basic and diluted(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets per share resulting from operations | $ | (0.02) | $ | 0.49 | $ | 0.12 | $ | 1.37 | $ | 2.09 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in net assets per share resulting from operations | Net increase in net assets per share resulting from operations | $ | 0.60 | $ | 0.44 | $ | 0.71 | $ | 1.81 | $ | 2.09 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income per share | Net investment income per share | $ | 0.34 | $ | 0.33 | $ | 0.68 | $ | 0.64 | $ | 1.31 | Net investment income per share | $ | 0.45 | $ | 0.35 | $ | 1.13 | $ | 0.98 | $ | 1.31 | ||||||||||||||||||||||||||||||||||||||||||
Weighted average shares of common stock outstanding | Weighted average shares of common stock outstanding | 56,958,440 | 56,747,687 | 56,958,440 | 56,750,588 | 56,808,960 | Weighted average shares of common stock outstanding | 56,816,992 | 56,774,323 | 56,910,773 | 56,758,586 | 56,808,960 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in net assets from operations: | Changes in net assets from operations: | Changes in net assets from operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | Net investment income | $ | 19,288 | $ | 18,686 | $ | 38,771 | $ | 36,285 | $ | 74,307 | Net investment income | $ | 25,557 | $ | 19,612 | $ | 64,328 | $ | 55,897 | $ | 74,307 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on investments | 180 | 445 | 111 | (3,676) | 843 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized loss on foreign currency | — | (4) | — | (11) | (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation on investments | (20,734) | 8,842 | (32,259) | 45,085 | 43,617 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain on investments | Net realized (loss) gain on investments | (17,166) | 19,729 | (17,055) | 16,053 | 843 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain on foreign currency | Net realized (loss) gain on foreign currency | (3) | 7 | (3) | (4) | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | Net change in unrealized appreciation (depreciation) on investments | 25,595 | (14,240) | (6,664) | 30,845 | 43,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | (1,266) | 27,969 | 6,623 | 77,683 | 118,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in net assets resulting from operations | Net increase in net assets resulting from operations | 33,983 | 25,108 | 40,606 | 102,791 | 118,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in net assets from shareholders' distributions: | Changes in net assets from shareholders' distributions: | Changes in net assets from shareholders' distributions: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to shareholders | Distributions to shareholders | (15,949) | (15,000) | (31,897) | (30,029) | (71,530) | Distributions to shareholders | (17,604) | (15,027) | (49,501) | (45,056) | (71,530) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net decrease in net assets resulting from shareholders' distributions | Net decrease in net assets resulting from shareholders' distributions | (15,949) | (15,000) | (31,897) | (30,029) | (71,530) | Net decrease in net assets resulting from shareholders' distributions | (17,604) | (15,027) | (49,501) | (45,056) | (71,530) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in net assets from capital share transactions: | Changes in net assets from capital share transactions: | Changes in net assets from capital share transactions: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvestment of shareholders' distributions | Reinvestment of shareholders' distributions | — | 5,132 | — | 10,424 | 15,489 | Reinvestment of shareholders' distributions | — | 5,065 | — | 15,489 | 15,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | Repurchase of common stock | — | (5,163) | — | (10,454) | (10,467) | Repurchase of common stock | (6,711) | (13) | (6,711) | (10,467) | (10,467) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from capital share transactions | Net (decrease) increase in net assets resulting from capital share transactions | — | (31) | — | (30) | 5,022 | Net (decrease) increase in net assets resulting from capital share transactions | (6,711) | 5,052 | (6,711) | 5,022 | 5,022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total (decrease) increase in net assets | (17,215) | 12,938 | (25,274) | 47,624 | 52,256 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total increase (decrease) in net assets | Total increase (decrease) in net assets | 9,668 | 15,133 | (15,606) | 62,757 | 52,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net assets at beginning of period | Net assets at beginning of period | 922,453 | 912,942 | 930,512 | 878,256 | 878,256 | Net assets at beginning of period | 905,238 | 925,880 | 930,512 | 878,256 | 878,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net assets at end of period | Net assets at end of period | $ | 905,238 | $ | 925,880 | $ | 905,238 | $ | 925,880 | $ | 930,512 | Net assets at end of period | $ | 914,906 | $ | 941,013 | $ | 914,906 | $ | 941,013 | $ | 930,512 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per share of common stock at end of period(1) | Net asset value per share of common stock at end of period(1) | $ | 15.89 | $ | 16.34 | $ | 15.89 | $ | 16.34 | $ | 16.34 | Net asset value per share of common stock at end of period(1) | $ | 16.26 | $ | 16.52 | $ | 16.26 | $ | 16.52 | $ | 16.34 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares of common stock outstanding at end of period(1) | Shares of common stock outstanding at end of period(1) | 56,958,440 | 56,648,478 | 56,958,440 | 56,648,478 | 56,958,440 | Shares of common stock outstanding at end of period(1) | 56,262,964 | 56,958,440 | 56,262,964 | 56,958,440 | 56,958,440 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating activities: | Operating activities: | Operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | $ | (1,266) | $ | 27,969 | $ | 6,623 | $ | 77,683 | $ | 118,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net (decrease) increase in net assets resulting from operations to net cash used in operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in net assets resulting from operations | Net increase in net assets resulting from operations | $ | 33,983 | $ | 25,108 | $ | 40,606 | $ | 102,791 | $ | 118,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities: | Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net accretion of discount on investments | Net accretion of discount on investments | (2,478) | (2,733) | (4,974) | (5,905) | (11,738) | Net accretion of discount on investments | (4,191) | (3,360) | (9,165) | (9,265) | (11,738) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from principal repayment of investments | Proceeds from principal repayment of investments | 102,963 | 91,697 | 161,710 | 265,971 | 568,907 | Proceeds from principal repayment of investments | 143,291 | 196,449 | 305,001 | 462,420 | 568,907 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of investments | Purchase of investments | (173,224) | (222,098) | (311,047) | (405,732) | (920,039) | Purchase of investments | (141,276) | (165,033) | (452,323) | (570,765) | (920,039) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest and dividends capitalized | Paid-in-kind interest and dividends capitalized | (5,897) | (5,303) | (11,948) | (12,818) | (21,734) | Paid-in-kind interest and dividends capitalized | (8,049) | (3,779) | (19,997) | (16,597) | (21,734) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease (increase) in short term investments, net | Decrease (increase) in short term investments, net | 1,418 | 39,110 | 73,572 | 25,114 | (14,319) | Decrease (increase) in short term investments, net | 4,540 | (67,351) | 78,112 | (42,237) | (14,319) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of investments | Proceeds from sale of investments | 6,591 | 5,131 | 8,875 | 20,131 | 259,050 | Proceeds from sale of investments | 11,581 | 26,765 | 20,456 | 46,896 | 259,050 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (gain) loss on investments | (180) | (445) | (111) | 3,676 | (843) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized depreciation (appreciation) on investments | 20,734 | (8,842) | 32,259 | (45,085) | (43,617) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized loss (gain) on investments | Net realized loss (gain) on investments | 17,166 | (19,729) | 17,055 | (16,053) | (843) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (appreciation) depreciation on investments | Net change in unrealized (appreciation) depreciation on investments | (25,595) | 14,240 | 6,664 | (30,845) | (43,617) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt issuance costs | Amortization of debt issuance costs | 812 | 682 | 1,504 | 1,431 | 2,800 | Amortization of debt issuance costs | 835 | 670 | 2,339 | 2,101 | 2,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in interest receivable on investments | (Increase) decrease in interest receivable on investments | (746) | (2,092) | (162) | (2,814) | (4,400) | (Increase) decrease in interest receivable on investments | (4,077) | (1,466) | (4,239) | (4,280) | (4,400) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in dividends receivable on investments | (Increase) decrease in dividends receivable on investments | — | 128 | — | (142) | 45 | (Increase) decrease in dividends receivable on investments | — | 52 | — | (90) | 45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in receivable due on investments sold and repaid | (Increase) decrease in receivable due on investments sold and repaid | 4,590 | 31,027 | 141 | (2,695) | 3,339 | (Increase) decrease in receivable due on investments sold and repaid | (4,433) | (10,671) | (4,292) | (13,366) | 3,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in prepaid expenses and other assets | (Increase) decrease in prepaid expenses and other assets | 1,506 | 241 | (1,646) | 1,362 | 1,322 | (Increase) decrease in prepaid expenses and other assets | 1,271 | (48) | (375) | 1,314 | 1,322 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in payable for investments purchased | Increase (decrease) in payable for investments purchased | 11,635 | (22,279) | 308 | 17,805 | 11,194 | Increase (decrease) in payable for investments purchased | (11,635) | 15,422 | (11,327) | 33,227 | 11,194 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in accounts payable and accrued expenses | Increase (decrease) in accounts payable and accrued expenses | 332 | 1,239 | (728) | 1,466 | 1,228 | Increase (decrease) in accounts payable and accrued expenses | 659 | 1,349 | (69) | 2,815 | 1,228 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in interest payable | Increase (decrease) in interest payable | 2,430 | 1,468 | 1,264 | 1,685 | 1,839 | Increase (decrease) in interest payable | (460) | (1,347) | 804 | 338 | 1,839 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in accrued management fees | Increase (decrease) in accrued management fees | 184 | 460 | 166 | 575 | (995) | Increase (decrease) in accrued management fees | 104 | 200 | 270 | 775 | (995) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in accrued administrative services expense | Increase (decrease) in accrued administrative services expense | 154 | 516 | (1,065) | (360) | 330 | Increase (decrease) in accrued administrative services expense | 74 | 234 | (991) | (126) | 330 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in subordinated incentive fee on income payable | Increase (decrease) in subordinated incentive fee on income payable | (42) | — | 149 | (4,323) | (381) | Increase (decrease) in subordinated incentive fee on income payable | 1,330 | 2,933 | 1,479 | (1,390) | (381) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash used in operating activities | (30,484) | (64,124) | (45,110) | (62,975) | (49,248) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in share repurchase payable | Increase (decrease) in share repurchase payable | 316 | — | 316 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | Net cash provided by (used in) operating activities | 15,434 | 10,638 | (29,676) | (52,337) | (49,248) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing activities: | Financing activities: | Financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | Repurchase of common stock | — | (5,163) | — | (10,454) | (10,467) | Repurchase of common stock | (6,711) | (13) | (6,711) | (10,467) | (10,467) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders' distributions paid | Shareholders' distributions paid | (15,949) | (9,868) | (31,897) | (19,605) | (56,041) | Shareholders' distributions paid | (17,604) | (9,962) | (49,501) | (29,567) | (56,041) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments under financing arrangements | Repayments under financing arrangements | — | — | — | (125,000) | (171,000) | Repayments under financing arrangements | — | (21,000) | — | (146,000) | (171,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings under financing arrangements | Borrowings under financing arrangements | 72,500 | 80,000 | 117,500 | 205,000 | 276,000 | Borrowings under financing arrangements | 10,000 | 21,000 | 127,500 | 226,000 | 276,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs paid | Debt issuance costs paid | (1,025) | (990) | (1,725) | (5,384) | (5,384) | Debt issuance costs paid | — | — | (1,725) | (5,384) | (5,384) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by financing activities | 55,526 | 63,979 | 83,878 | 44,557 | 33,108 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by financing activities | Net cash (used in) provided by financing activities | (14,315) | (9,975) | 69,563 | 34,582 | 33,108 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and restricted cash | Net increase (decrease) in cash and restricted cash | 25,042 | (145) | 38,768 | (18,418) | (16,140) | Net increase (decrease) in cash and restricted cash | 1,119 | 663 | 39,887 | (17,755) | (16,140) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and restricted cash, beginning of period | Cash and restricted cash, beginning of period | 17,500 | 1,641 | 3,774 | 19,914 | 19,914 | Cash and restricted cash, beginning of period | 42,542 | 1,496 | 3,774 | 19,914 | 19,914 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and restricted cash, end of period | Cash and restricted cash, end of period | $ | 42,542 | $ | 1,496 | $ | 42,542 | $ | 1,496 | $ | 3,774 | Cash and restricted cash, end of period | $ | 43,661 | $ | 2,159 | $ | 43,661 | $ | 2,159 | $ | 3,774 | ||||||||||||||||||||||||||||||||||||||||||
Supplemental disclosure of cash flow information: | Supplemental disclosure of cash flow information: | Supplemental disclosure of cash flow information: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash paid for interest | Cash paid for interest | $ | 7,586 | $ | 5,676 | $ | 16,511 | $ | 12,258 | $ | 27,129 | Cash paid for interest | $ | 13,080 | $ | 8,842 | $ | 29,591 | $ | 21,100 | $ | 27,129 | ||||||||||||||||||||||||||||||||||||||||||
Supplemental non-cash financing activities: | Supplemental non-cash financing activities: | Supplemental non-cash financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvestment of shareholders' distributions | Reinvestment of shareholders' distributions | $ | — | $ | 5,132 | $ | — | $ | 10,424 | $ | 15,489 | Reinvestment of shareholders' distributions | $ | — | $ | 5,065 | $ | — | $ | 15,489 | $ | 15,489 | ||||||||||||||||||||||||||||||||||||||||||
Restructuring of portfolio investment | Restructuring of portfolio investment | $ | — | $ | 2,286 | $ | — | $ | 2,286 | $ | 5,455 | Restructuring of portfolio investment | $ | 45,162 | $ | 3,169 | $ | 45,162 | $ | 5,455 | $ | 5,455 | ||||||||||||||||||||||||||||||||||||||||||
Cash interest receivable exchanged for additional securities | Cash interest receivable exchanged for additional securities | $ | — | $ | — | $ | — | $ | 1,304 | $ | 1,304 | Cash interest receivable exchanged for additional securities | $ | — | $ | — | $ | — | $ | 1,304 | $ | 1,304 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Senior Secured First Lien Debt - 183.4% | ||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc., L+1200, 1.00% LIBOR Floor, 12/31/2023(t) | 3 Month LIBOR | Capital Equipment | $ | 11,114 | $ | 11,114 | $ | 9,781 | ||||||||||||||||||||||||
Adapt Laser Acquisition, Inc., L+1200, 1.00% LIBOR Floor, 12/31/2023(t) | 3 Month LIBOR | Capital Equipment | 2,051 | 2,051 | 1,754 | |||||||||||||||||||||||||||
Aegis Toxicology Sciences Corp., L+550, 1.00% LIBOR Floor, 5/9/2025(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 6,104 | 6,046 | 6,119 | |||||||||||||||||||||||||||
AHF Parent Holding, Inc., S+625, 0.75% SOFR Floor, 2/1/2028(n) | 3 Month SOFR | Construction & Building | 2,981 | 2,924 | 2,853 | |||||||||||||||||||||||||||
Allen Media, LLC, S+550, 0.00% SOFR Floor, 2/10/2027(n) | 3 Month SOFR | Media: Diversified & Production | 8,909 | 8,832 | 8,530 | |||||||||||||||||||||||||||
ALM Media, LLC, L+650, 1.00% LIBOR Floor, 11/25/2024(m)(n) | 1 Month LIBOR | Media: Advertising, Printing & Publishing | 17,500 | 17,319 | 17,238 | |||||||||||||||||||||||||||
Alpine US Bidco, LLC, L+525, 1.00% LIBOR Floor, 5/3/2028(i)(n) | 3 Month LIBOR | Beverage, Food & Tobacco | 2,000 | 1,870 | 1,855 | |||||||||||||||||||||||||||
American Clinical Solutions LLC, 7.00%, 12/31/2022(m) | None | Healthcare & Pharmaceuticals | 3,500 | 3,482 | 3,439 | |||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc., L+1600, 1.00% LIBOR Floor, 9/16/2025(m)(t) | 1 Month LIBOR | Metals & Mining | 225 | 173 | 229 | |||||||||||||||||||||||||||
American Health Staffing Group, Inc., L+600, 1.00% LIBOR Floor, 11/19/2026(m) | 6 Month LIBOR | Services: Business | 16,625 | 16,480 | 16,625 | |||||||||||||||||||||||||||
American Health Staffing Group, Inc., 0.50% Unfunded, 11/19/2026 | None | Services: Business | 3,333 | (29) | — | |||||||||||||||||||||||||||
American Teleconferencing Services, Ltd., Prime+550, 6/30/2022(q) | Prime | Telecommunications | 3,116 | 3,116 | 1,772 | |||||||||||||||||||||||||||
American Teleconferencing Services, Ltd., Prime+550, 6/8/2023(q) | Prime | Telecommunications | 16,154 | 15,621 | — | |||||||||||||||||||||||||||
American Teleconferencing Services, Ltd., 0.00% Unfunded, 6/30/2022(o) | None | Telecommunications | 235 | — | — | |||||||||||||||||||||||||||
Analogic Corp., L+525, 1.00% LIBOR Floor, 6/21/2024(m)(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 4,875 | 4,838 | 4,771 | |||||||||||||||||||||||||||
Ancile Solutions, Inc., L+1000, 1.00% LIBOR Floor, 6/22/2026(m)(t) | 3 Month LIBOR | High Tech Industries | 11,903 | 11,581 | 11,546 | |||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc., L+900, 1.00% LIBOR Floor, 11/15/2026(m)(t) | 3 Month LIBOR | Media: Diversified & Production | 37,116 | 36,943 | 35,632 | |||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc., L+950, 1.00% LIBOR Floor, 11/15/2026 | 3 Month LIBOR | Media: Diversified & Production | 1,000 | 1,000 | 960 | |||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc., 0.50% Unfunded, 11/15/2026 | None | Media: Diversified & Production | 1,167 | — | (47) | |||||||||||||||||||||||||||
Appalachian Resource Company, LLC, L+500, 1.00% LIBOR Floor, 9/10/2023 | 1 Month LIBOR | Metals & Mining | 11,137 | 10,285 | 10,552 | |||||||||||||||||||||||||||
Appalachian Resource Company, LLC, L+1000, 1.00% LIBOR Floor, 9/10/2023 | 1 Month LIBOR | Metals & Mining | 5,000 | 5,000 | 4,994 | |||||||||||||||||||||||||||
Associated Asphalt Partners, LLC, L+525, 1.00% LIBOR Floor, 4/5/2024(m)(n) | 1 Month LIBOR | Construction & Building | 14,307 | 14,075 | 10,122 | |||||||||||||||||||||||||||
Atlas Supply LLC, 11.00%, 4/29/2025 | None | Retail | 5,000 | 5,000 | 4,988 | |||||||||||||||||||||||||||
Avison Young (USA) Inc., L+575, 0.00% LIBOR Floor, 1/31/2026(h)(m) | (u) | Banking, Finance, Insurance & Real Estate | 2,679 | 2,648 | 2,638 | |||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC, S+650, 1.00% SOFR Floor, 2/7/2027(m) | 3 Month SOFR | Services: Business | 17,912 | 17,599 | 17,554 | |||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC, S+650, 1.00% SOFR Floor, 2/7/2027 | 3 Month SOFR | Services: Business | 2,383 | 2,326 | 2,335 | |||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC, 0.50% Unfunded, 2/7/2027 | None | Services: Business | 474 | — | (9) | |||||||||||||||||||||||||||
Berlitz Holdings, Inc., S+900, 1.00% SOFR Floor, 2/14/2025 | 1 Month SOFR | Services: Business | 13,800 | 12,840 | 13,007 | |||||||||||||||||||||||||||
Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2027(m) | 1 Month LIBOR | Consumer Goods: Durable | 13,090 | 12,790 | 12,746 | |||||||||||||||||||||||||||
Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2026 | 1 Month LIBOR | Consumer Goods: Durable | 307 | 267 | 299 | |||||||||||||||||||||||||||
Bradshaw International Parent Corp., 0.50% Unfunded, 10/21/2026 | None | Consumer Goods: Durable | 1,537 | — | (40) | |||||||||||||||||||||||||||
Cabi, LLC, S+950, 1.00% SOFR Floor, 2/28/2027(m) | 1 Month SOFR | Retail | 22,358 | 22,033 | 22,022 | |||||||||||||||||||||||||||
Cadence Aerospace, LLC, L+850, 1.00% LIBOR Floor, 11/14/2023(m)(n)(t) | 3 Month LIBOR | Aerospace & Defense | 39,168 | 38,939 | 38,531 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt - 176.7% | ||||||||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(x) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | $ | 11,081 | $ | 11,081 | $ | 9,696 | |||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(x) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | 2,062 | 2,057 | 1,721 | ||||||||||||||||||||||||||||||||
Aegis Toxicology Sciences Corp.(m)(x) | L+550, 1.00% LIBOR Floor | 5/9/2025 | Healthcare & Pharmaceuticals | 6,078 | 6,024 | 6,086 | ||||||||||||||||||||||||||||||||
AHF Parent Holding, Inc.(n)(aa) | S+625, 0.75% SOFR Floor | 2/1/2028 | Construction & Building | 2,963 | 2,907 | 2,785 | ||||||||||||||||||||||||||||||||
Allen Media, LLC(n)(aa) | S+550, 0.00% SOFR Floor | 2/10/2027 | Media: Diversified & Production | 8,886 | 8,812 | 8,442 | ||||||||||||||||||||||||||||||||
ALM Media, LLC(m)(n)(x) | L+650, 1.00% LIBOR Floor | 11/25/2024 | Media: Advertising, Printing & Publishing | 17,250 | 17,088 | 17,099 | ||||||||||||||||||||||||||||||||
Alpine US Bidco, LLC(n)(w) | L+525, 1.00% LIBOR Floor | 5/3/2028 | Beverage, Food & Tobacco | 4,000 | 3,744 | 3,800 | ||||||||||||||||||||||||||||||||
American Clinical Solutions LLC(m) | 7.00% | 12/31/2022 | Healthcare & Pharmaceuticals | 3,500 | 3,491 | 3,308 | ||||||||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc.(m)(t) | L+1600, 1.00% LIBOR Floor | 9/16/2025 | Metals & Mining | 109 | 84 | 109 | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc. | 0.50% Unfunded | 11/19/2026 | Services: Business | 3,333 | (27) | — | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc.(m)(y) | L+600, 1.00% LIBOR Floor | 11/19/2026 | Services: Business | 16,583 | 16,444 | 16,583 | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(o) | 0.00% Unfunded | 6/30/2022 | Telecommunications | 235 | — | — | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(q) | Prime+550 | 6/30/2022 | Telecommunications | 3,116 | 3,116 | 588 | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(q) | Prime+550 | 6/8/2023 | Telecommunications | 16,154 | 15,621 | — | ||||||||||||||||||||||||||||||||
Analogic Corp.(m)(n)(x) | L+525, 1.00% LIBOR Floor | 6/21/2024 | Healthcare & Pharmaceuticals | 4,863 | 4,830 | 4,765 | ||||||||||||||||||||||||||||||||
Ancile Solutions, Inc.(m)(t)(x) | L+1000, 1.00% LIBOR Floor | 6/22/2026 | High Tech Industries | 11,935 | 11,629 | 11,577 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | 0.50% Unfunded | 11/15/2026 | Media: Diversified & Production | 167 | — | (7) | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(m)(t)(x) | L+900, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 36,753 | 36,585 | 35,099 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(x) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 3,000 | 3,000 | 2,865 | ||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(w) | L+1000, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 5,000 | 5,000 | 5,000 | ||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(w) | L+500, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 11,137 | 10,452 | 10,677 | ||||||||||||||||||||||||||||||||
Archer Systems, LLC(m)(aa) | S+650, 1.00% SOFR Floor | 8/11/2027 | Services: Business | 18,095 | 17,918 | 17,914 | ||||||||||||||||||||||||||||||||
Archer Systems, LLC | S+650, 1.00% SOFR Floor | 8/11/2027 | Services: Business | 214 | 196 | 212 | ||||||||||||||||||||||||||||||||
Archer Systems, LLC | 0.50% Unfunded | 8/11/2027 | Services: Business | 1,690 | — | (17) | ||||||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC(m)(n)(x) | L+525, 1.00% LIBOR Floor | 4/5/2024 | Construction & Building | 14,221 | 14,020 | 10,974 | ||||||||||||||||||||||||||||||||
Atlas Supply LLC | 11.00% | 4/29/2025 | Healthcare & Pharmaceuticals | 5,000 | 5,000 | 4,963 | ||||||||||||||||||||||||||||||||
Avison Young (USA) Inc.(h)(m)(w) | L+575, 0.00% LIBOR Floor | 1/31/2026 | Banking, Finance, Insurance & Real Estate | 2,672 | 2,643 | 2,498 | ||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC(m)(aa) | S+625, 1.00% SOFR Floor | 2/7/2027 | Services: Business | 17,867 | 17,567 | 17,510 | ||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC(aa) | S+625, 1.00% SOFR Floor | 2/7/2027 | Services: Business | 2,383 | 2,326 | 2,335 | ||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | 0.50% Unfunded | 2/7/2027 | Services: Business | 474 | — | (9) | ||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc.(r)(z) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | 13,800 | 12,915 | 13,145 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp. | 0.50% Unfunded | 10/21/2026 | Consumer Goods: Durable | 1,076 | — | (28) | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp.(w) | L+575, 1.00% LIBOR Floor | 10/21/2026 | Consumer Goods: Durable | 768 | 730 | 748 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp.(m)(w) | L+ 575, 1.00% LIBOR Floor | 10/21/2027 | Consumer Goods: Durable | 13,057 | 12,767 | 12,714 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Cardenas Markets LLC, L+625, 1.00% LIBOR Floor, 6/3/2027(m) | 6 Month LIBOR | Retail | 10,890 | 10,791 | 10,890 | |||||||||||||||||||||||||||
CB URS Holdings Corp., L+575, 1.00% LIBOR Floor, 9/1/2024(m) | 6 Month LIBOR | Transportation: Cargo | 15,090 | 15,057 | 12,374 | |||||||||||||||||||||||||||
Celerity Acquisition Holdings, LLC, L+850, 1.00% LIBOR Floor, 5/28/2026 | 3 Month LIBOR | Services: Business | 14,850 | 14,850 | 14,702 | |||||||||||||||||||||||||||
Cennox, Inc., L+600, 1.00% LIBOR Floor, 5/4/2026(m) | 3 Month LIBOR | Services: Business | 22,618 | 22,618 | 22,618 | |||||||||||||||||||||||||||
Cennox, Inc., L+600, 1.00% LIBOR Floor, 5/4/2026(n) | 3 Month LIBOR | Services: Business | 6,243 | 6,243 | 6,243 | |||||||||||||||||||||||||||
Cennox, Inc., L+600, 1.00% LIBOR Floor, 5/4/2026 | 3 Month LIBOR | Services: Business | 1,680 | 1,680 | 1,680 | |||||||||||||||||||||||||||
Cennox, Inc., 1.00% Unfunded, 11/22/2023 | None | Services: Business | 12,979 | (44) | — | |||||||||||||||||||||||||||
Cennox, Inc., 0.50% Unfunded, 5/4/2026 | None | Services: Business | 1,307 | — | — | |||||||||||||||||||||||||||
Charming Charlie LLC, 20.00%, 4/24/2023(q)(r) | None | Retail | 662 | 560 | 17 | |||||||||||||||||||||||||||
CHC Solutions Inc., 12.00%, 7/20/2023(n)(t) | None | Healthcare & Pharmaceuticals | 8,128 | 8,128 | 8,067 | |||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, 14.00%, 12/21/2026(h)(s)(t) | None | Diversified Financials | 62,274 | 62,274 | 62,274 | |||||||||||||||||||||||||||
CircusTrix Holdings, LLC, L+550, 1.00% LIBOR Floor, 1/16/2024(m)(n) | 1 Month LIBOR | Hotel, Gaming & Leisure | 26,918 | 26,874 | 26,414 | |||||||||||||||||||||||||||
CircusTrix Holdings, LLC, L+550, 1.00% LIBOR Floor, 1/16/2024(m) | 1 Month LIBOR | Hotel, Gaming & Leisure | 2,740 | 2,718 | 2,689 | |||||||||||||||||||||||||||
CircusTrix Holdings, LLC, L+550, 1.00% LIBOR Floor, 7/16/2023(m) | 1 Month LIBOR | Hotel, Gaming & Leisure | 1,565 | 1,500 | 1,858 | |||||||||||||||||||||||||||
Community Tree Service, LLC, S+850, 1.00% SOFR Floor, 6/17/2027 | 3 Month SOFR | Construction & Building | 12,500 | 12,500 | 12,500 | |||||||||||||||||||||||||||
Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(q) | 3 Month LIBOR | Beverage, Food & Tobacco | 877 | 765 | 114 | |||||||||||||||||||||||||||
Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(q) | 3 Month LIBOR | Beverage, Food & Tobacco | 355 | 316 | 46 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, L+600, 1.00% LIBOR Floor, 2/6/2026(m)(n) | 6 Month LIBOR | Chemicals, Plastics & Rubber | 34,213 | 34,019 | 33,699 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, L+800, 1.00% LIBOR Floor, 8/6/2026(n) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 6,156 | 6,064 | 6,156 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, L+600, 1.00% LIBOR Floor, 2/6/2025(n) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 750 | 750 | 739 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, 0.50% Unfunded, 2/6/2025 | None | Chemicals, Plastics & Rubber | 1,750 | — | (26) | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 12,993 | 12,993 | 12,993 | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 1,004 | 1,004 | 1,004 | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, 1.00% Unfunded, 11/1/2026 | None | Healthcare & Pharmaceuticals | 4,899 | — | — | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, 0.50% Unfunded, 11/1/2026 | None | Healthcare & Pharmaceuticals | 1,000 | — | — | |||||||||||||||||||||||||||
David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 6/23/2023(t) | 3 Month LIBOR | Retail | 5,760 | 5,338 | 5,587 | |||||||||||||||||||||||||||
David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 5/23/2024(t) | 3 Month LIBOR | Retail | 5,222 | 5,222 | 5,105 | |||||||||||||||||||||||||||
David's Bridal, LLC, L+600, 1.00% LIBOR Floor, 6/30/2023(t) | 3 Month LIBOR | Retail | 820 | 768 | 734 | |||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc., L+650, 1.00% LIBOR Floor, 3/25/2024(m)(q)(r)(t) | 3 Month LIBOR | Media: Diversified & Production | 2,652 | 2,632 | 245 | |||||||||||||||||||||||||||
DMT Solutions Global Corp., L+750, 1.00% LIBOR Floor, 7/2/2024(n) | (v) | Services: Business | 9,403 | 9,299 | 8,909 | |||||||||||||||||||||||||||
Emerald Technologies (U.S.) Acquisitionco, Inc., S+625, 1.00% SOFR Floor, 12/29/2027(n) | 1 Month SOFR | Services: Business | 2,981 | 2,925 | 2,881 | |||||||||||||||||||||||||||
Entertainment Studios P&A LLC, 5.71%, 5/18/2037(j)(m) | None | Media: Diversified & Production | 11,280 | 11,185 | 9,390 | |||||||||||||||||||||||||||
Entertainment Studios P&A LLC, 5.00%, 5/18/2037(j) | None | Media: Diversified & Production | — | — | 1,848 | |||||||||||||||||||||||||||
Extreme Reach, Inc., L+700, 1.25% LIBOR Floor, 3/29/2024(m)(n) | 1 Month LIBOR | Media: Diversified & Production | 18,367 | 18,282 | 18,367 | |||||||||||||||||||||||||||
Extreme Reach, Inc., 0.50% Unfunded, 3/29/2024(m)(n) | None | Media: Diversified & Production | 1,744 | — | — |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Cabi, LLC(m)(z) | S+950, 1.00% SOFR Floor | 2/28/2027 | Retail | 22,216 | 21,901 | 21,882 | ||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC(m)(n)(t)(x) | L+850, 1.00% LIBOR Floor | 11/14/2023 | Aerospace & Defense | 39,272 | 39,079 | 38,683 | ||||||||||||||||||||||||||||||||
Carestream Health, Inc.(r)(z) | S+750, 1.00% SOFR Floor | 9/30/2027 | Healthcare & Pharmaceuticals | 7,596 | 7,596 | 7,596 | ||||||||||||||||||||||||||||||||
CB URS Holdings Corp.(m)(x) | L+575, 1.00% LIBOR Floor | 9/1/2024 | Transportation: Cargo | 14,958 | 14,927 | 12,284 | ||||||||||||||||||||||||||||||||
Celerity Acquisition Holdings, LLC(x) | L+850, 1.00% LIBOR Floor | 5/28/2026 | Services: Business | 14,813 | 14,813 | 14,664 | ||||||||||||||||||||||||||||||||
Cennox, Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 22,564 | 22,564 | 22,564 | ||||||||||||||||||||||||||||||||
Cennox, Inc.(n)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 11,915 | 11,853 | 11,915 | ||||||||||||||||||||||||||||||||
Cennox, Inc. | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 597 | 597 | 597 | ||||||||||||||||||||||||||||||||
Cennox, Inc. | 1.00% Unfunded | 11/22/2023 | Services: Business | 7,193 | — | — | ||||||||||||||||||||||||||||||||
Cennox, Inc. | 0.50% Unfunded | 5/4/2026 | Services: Business | 2,390 | — | — | ||||||||||||||||||||||||||||||||
Charming Charlie LLC(q)(r) | 20.00% | 4/24/2023 | Retail | 662 | — | — | ||||||||||||||||||||||||||||||||
CHC Solutions Inc.(n)(t) | 12.00% | 7/20/2023 | Healthcare & Pharmaceuticals | 8,210 | 8,210 | 8,210 | ||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC(h)(s)(t) | 14.00% | 12/21/2026 | Diversified Financials | 62,274 | 62,274 | 62,274 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(n)(w) | L+550, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 26,885 | 26,842 | 26,549 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 2,737 | 2,715 | 2,703 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 7/16/2023 | Hotel, Gaming & Leisure | 1,563 | 1,513 | 1,866 | ||||||||||||||||||||||||||||||||
Community Tree Service, LLC(aa) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 12,500 | 12,500 | 12,438 | ||||||||||||||||||||||||||||||||
Country Fresh Holdings, LLC(q)(x) | L+500, 1.00% LIBOR Floor | 4/29/2023 | Beverage, Food & Tobacco | 877 | 765 | 92 | ||||||||||||||||||||||||||||||||
Country Fresh Holdings, LLC(q)(x) | L+500, 1.00% LIBOR Floor | 4/29/2023 | Beverage, Food & Tobacco | 355 | 316 | 37 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(m)(n)(x) | L+600, 1.00% LIBOR Floor | 2/6/2026 | Chemicals, Plastics & Rubber | 34,125 | 33,941 | 33,528 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(n)(x) | L+800, 1.00% LIBOR Floor | 8/6/2026 | Chemicals, Plastics & Rubber | 6,141 | 6,052 | 6,141 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC | 0.50% Unfunded | 2/6/2025 | Chemicals, Plastics & Rubber | 2,500 | — | (44) | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 12,961 | 12,961 | 12,961 | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 1,002 | 1,002 | 1,002 | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC | 1.00% Unfunded | 11/1/2026 | Healthcare & Pharmaceuticals | 4,899 | — | — | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC | 0.50% Unfunded | 11/1/2026 | Healthcare & Pharmaceuticals | 1,000 | — | — | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(x) | L+1000, 1.00% LIBOR Floor | 5/23/2024 | Retail | 5,288 | 5,288 | 5,156 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(x) | L+1000, 1.00% LIBOR Floor | 6/23/2023 | Retail | 5,832 | 5,506 | 5,628 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(w) | L+600, 1.00% LIBOR Floor | 6/30/2023 | Retail | 835 | 795 | 250 | ||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(x) | L+650, 1.00% LIBOR Floor | 3/25/2024 | Media: Diversified & Production | 2,662 | 2,632 | 246 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC(m)(z) | L+575, 1.00% LIBOR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 9,379 | 9,119 | 9,380 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC(z) | L+575, 1.00% LIBOR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 1,333 | 1,333 | 1,333 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC | Prime+475 | 4/22/2028 | Healthcare & Pharmaceuticals | 179 | 179 | 179 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC | 0.50% Unfunded | 10/22/2023 | Healthcare & Pharmaceuticals | 2,917 | — | — |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC, L+550, 1.00% LIBOR Floor, 2/12/2027(m)(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 29,291 | 29,071 | 29,291 | |||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC, 0.50% Unfunded, 2/12/2027 | None | Healthcare & Pharmaceuticals | 2,094 | — | — | |||||||||||||||||||||||||||
FuseFX, LLC, L+575, 1.00% LIBOR Floor, 10/1/2024(m)(n) | 1 Month LIBOR | Media: Diversified & Production | 19,898 | 19,737 | 19,724 | |||||||||||||||||||||||||||
Fusion Connect Inc., L+750, 1.00% LIBOR Floor, 1/18/2027(m) | 3 Month LIBOR | High Tech Industries | 19,900 | 19,354 | 19,303 | |||||||||||||||||||||||||||
Future Pak, LLC, L+800, 2.00% LIBOR Floor, 7/2/2024(m) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 28,908 | 28,908 | 28,583 | |||||||||||||||||||||||||||
Gold Medal Holdings, Inc., S+700, 1.00% SOFR Floor, 3/17/2027(m) | 3 Month SOFR | Services: Business | 14,759 | 14,618 | 14,575 | |||||||||||||||||||||||||||
GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 2,404 | 2,309 | 1,986 | |||||||||||||||||||||||||||
GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r)(t) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 884 | 846 | 410 | |||||||||||||||||||||||||||
GSC Technologies Inc., L+1000, 1.00% LIBOR Floor, 9/30/2025(r)(t) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 162 | 162 | 161 | |||||||||||||||||||||||||||
H.W. Lochner, Inc., L+575, 1.00% LIBOR Floor, 7/2/2027(m) | 3 Month LIBOR | Construction & Building | 11,910 | 11,809 | 11,850 | |||||||||||||||||||||||||||
H.W. Lochner, Inc., L+575, 1.00% LIBOR Floor, 7/2/2027 | 3 Month LIBOR | Construction & Building | 325 | 315 | 323 | |||||||||||||||||||||||||||
H.W. Lochner, Inc., 0.50% Unfunded, 7/2/2027 | None | Construction & Building | 675 | — | (3) | |||||||||||||||||||||||||||
Harland Clarke Holdings Corp., L+775, 1.00% LIBOR Floor, 6/16/2026(m) | 3 Month LIBOR | Services: Business | 9,343 | 9,333 | 7,288 | |||||||||||||||||||||||||||
Heritage Power, LLC, L+600, 1.00% LIBOR Floor, 7/30/2026(i) | 6 Month LIBOR | Energy: Oil & Gas | 8,622 | 6,719 | 5,173 | |||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP, L+1200, 2.00% LIBOR Floor, 12/17/2022(m)(t) | 1 Month LIBOR | Services: Consumer | 20,251 | 20,207 | 20,251 | |||||||||||||||||||||||||||
Homer City Generation, L.P., 15.00%, 4/5/2023(m)(t) | None | Energy: Oil & Gas | 10,943 | 11,267 | 8,481 | |||||||||||||||||||||||||||
Homer City Generation, L.P., 0.00% Unfunded, 1/29/2023(o) | None | Energy: Oil & Gas | 4,000 | — | (90) | |||||||||||||||||||||||||||
Hoover Group, Inc., L+825, 1.25% LIBOR Floor, 10/1/2024(n) | 3 Month LIBOR | Services: Business | 5,104 | 5,092 | 5,047 | |||||||||||||||||||||||||||
HUMC Holdco, LLC, 9.00%, 12/31/2022(m) | None | Healthcare & Pharmaceuticals | 8,843 | 8,843 | 8,799 | |||||||||||||||||||||||||||
HW Acquisition, LLC, L+600, 1.00% LIBOR Floor, 9/28/2026(m) | 3 Month LIBOR | Capital Equipment | 18,971 | 18,808 | 18,378 | |||||||||||||||||||||||||||
HW Acquisition, LLC, L+600, 1.00% LIBOR Floor, 9/28/2026 | 3 Month LIBOR | Capital Equipment | 733 | 708 | 710 | |||||||||||||||||||||||||||
HW Acquisition, LLC, 0.50% Unfunded, 9/28/2026 | None | Capital Equipment | 2,200 | — | (69) | |||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, 6.00%, 11/20/2023(t) | None | Retail | 10,608 | 10,565 | 9,839 | |||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Prime+550, 12/22/2022(t) | Prime | Retail | 2,127 | 2,127 | 2,127 | |||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, L+650, 0.00% LIBOR Floor, 12/22/2022(t) | 3 Month LIBOR | Retail | 268 | 268 | 268 | |||||||||||||||||||||||||||
InfoGroup Inc., L+500, 1.00% LIBOR Floor, 4/3/2023(m)(n) | 3 Month LIBOR | Media: Advertising, Printing & Publishing | 15,351 | 15,348 | 14,603 | |||||||||||||||||||||||||||
Inotiv, Inc., L+625, 1.00% LIBOR Floor, 11/5/2026(m) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 12,239 | 12,024 | 11,933 | |||||||||||||||||||||||||||
Inotiv, Inc., L+625, 1.00% LIBOR Floor, 11/5/2026(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 2,090 | 2,052 | 2,037 | |||||||||||||||||||||||||||
Inotiv, Inc., 1.00% Unfunded, 5/5/2023 | None | Healthcare & Pharmaceuticals | 2,100 | (39) | (53) | |||||||||||||||||||||||||||
Instant Web, LLC, L+700, 1.00% LIBOR Floor, 2/25/2027(m)(n)(r)(t) | 1 Month LIBOR | Media: Advertising, Printing & Publishing | 37,844 | 37,833 | 27,295 | |||||||||||||||||||||||||||
Instant Web, LLC, Prime+375, 2/25/2027(r) | Prime | Media: Advertising, Printing & Publishing | 458 | 458 | 457 | |||||||||||||||||||||||||||
Instant Web, LLC, L+650, 1.00% LIBOR Floor, 2/25/2027(r) | 1 Month LIBOR | Media: Advertising, Printing & Publishing | 321 | 321 | 320 | |||||||||||||||||||||||||||
Instant Web, LLC, 0.50% Unfunded, 2/25/2027(r) | None | Media: Advertising, Printing & Publishing | 2,383 | — | (6) | |||||||||||||||||||||||||||
Instant Web, LLC, 0.50% Unfunded, 2/25/2027(r) | None | Media: Advertising, Printing & Publishing | 3,246 | — | (8) | |||||||||||||||||||||||||||
Invincible Boat Company LLC, L+650, 1.50% LIBOR Floor, 8/28/2025(m) | 3 Month LIBOR | Consumer Goods: Durable | 13,536 | 13,461 | 13,536 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC | 0.50% Unfunded | 4/22/2028 | Healthcare & Pharmaceuticals | 1,164 | — | — | ||||||||||||||||||||||||||||||||
DMT Solutions Global Corp.(n)(u) | L+750, 1.00% LIBOR Floor | 7/2/2024 | Services: Business | 4,039 | 4,105 | 3,877 | ||||||||||||||||||||||||||||||||
Emerald Technologies (U.S.) Acquisitionco, Inc.(n)(z) | S+625, 1.00% SOFR Floor | 12/29/2027 | Services: Business | 2,963 | 2,908 | 2,840 | ||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(j) | 5.00% | 5/18/2037 | Media: Diversified & Production | — | — | 1,512 | ||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(m)(aa) | S+850, 1.00% SOFR Floor | 9/28/2027 | Media: Diversified & Production | 24,000 | 23,903 | 24,000 | ||||||||||||||||||||||||||||||||
Extreme Reach, Inc.(m)(n)(w) | L+700, 1.25% LIBOR Floor | 3/29/2024 | Media: Diversified & Production | 17,960 | 17,886 | 17,960 | ||||||||||||||||||||||||||||||||
Extreme Reach, Inc. | 0.50% Unfunded | 3/29/2024 | Media: Diversified & Production | 1,744 | — | — | ||||||||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC(m)(n)(x) | L+550, 1.00% LIBOR Floor | 2/12/2027 | Healthcare & Pharmaceuticals | 27,169 | 26,972 | 27,440 | ||||||||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC | 0.50% Unfunded | 2/12/2027 | Healthcare & Pharmaceuticals | 2,094 | — | 21 | ||||||||||||||||||||||||||||||||
FuseFX, LLC(m)(n)(w) | L+575, 1.00% LIBOR Floor | 10/1/2024 | Media: Diversified & Production | 19,847 | 19,700 | 19,673 | ||||||||||||||||||||||||||||||||
Fusion Connect Inc.(m)(x) | L+750, 1.00% LIBOR Floor | 1/18/2027 | High Tech Industries | 20,248 | 19,725 | 19,742 | ||||||||||||||||||||||||||||||||
Future Pak, LLC(m)(w) | L+800, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 27,021 | 27,021 | 26,413 | ||||||||||||||||||||||||||||||||
Gold Medal Holdings, Inc.(m)(aa) | S+700, 1.00% SOFR Floor | 3/17/2027 | Services: Business | 14,759 | 14,621 | 14,575 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 2,404 | 2,315 | 2,022 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 897 | 862 | 403 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | L+1000, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 158 | 158 | 158 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(m)(x) | L+575, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 11,880 | 11,782 | 11,880 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(x) | L+575, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 775 | 765 | 775 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc. | 0.50% Unfunded | 7/2/2027 | Construction & Building | 225 | — | — | ||||||||||||||||||||||||||||||||
Harland Clarke Holdings Corp. (m)(x) | L+775, 1.00% LIBOR Floor | 6/16/2026 | Services: Business | 9,186 | 9,176 | 7,154 | ||||||||||||||||||||||||||||||||
Heritage Power, LLC(x) | L+600, 1.00% LIBOR Floor | 7/30/2026 | Energy: Oil & Gas | 8,622 | 6,772 | 4,699 | ||||||||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2022 | Services: Consumer | 20,983 | 20,960 | 20,983 | ||||||||||||||||||||||||||||||||
Hollander Intermediate LLC(m)(aa) | L+875, 2.00% LIBOR Floor | 9/19/2026 | Consumer Goods: Durable | 17,468 | 17,003 | 17,000 | ||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(m)(t) | 15.00% | 4/5/2023 | Energy: Oil & Gas | 11,357 | 11,667 | 8,802 | ||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(o) | 0.00% Unfunded | 1/29/2023 | Energy: Oil & Gas | 4,000 | — | (50) | ||||||||||||||||||||||||||||||||
Hoover Group, Inc.(n)(x) | L+825, 1.25% LIBOR Floor | 10/1/2024 | Services: Business | 5,065 | 5,054 | 5,027 | ||||||||||||||||||||||||||||||||
HUMC Holdco, LLC(m) | 9.00% | 12/31/2022 | Healthcare & Pharmaceuticals | 8,822 | 8,822 | 8,778 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC | Prime+500 | 9/28/2026 | Capital Equipment | 733 | 710 | 696 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC(m) | Prime+500 | 9/28/2026 | Capital Equipment | 18,924 | 18,766 | 17,954 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC | 0.50% Unfunded | 9/28/2026 | Capital Equipment | 2,200 | — | (113) | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t) | 6.00% | 11/20/2023 | Retail | 10,771 | 10,734 | 9,963 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t) | Prime+550 | 12/22/2022 | Retail | 2,177 | 2,177 | 2,177 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t)(x) | L+650, 0.00% LIBOR Floor | 12/22/2022 | Retail | 273 | 273 | 273 | ||||||||||||||||||||||||||||||||
InfoGroup Inc.(m)(n)(x) | L+500, 1.00% LIBOR Floor | 4/3/2023 | Media: Advertising, Printing & Publishing | 15,311 | 15,309 | 14,711 | ||||||||||||||||||||||||||||||||
Inotiv, Inc.(m)(x) | L+625, 1.00% LIBOR Floor | 11/5/2026 | Healthcare & Pharmaceuticals | 2,090 | 2,055 | 2,016 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Invincible Boat Company LLC, L+650, 1.50% LIBOR Floor, 8/28/2025 | 1 Month LIBOR | Consumer Goods: Durable | 239 | 239 | 239 | |||||||||||||||||||||||||||
Invincible Boat Company LLC, 0.50% Unfunded, 8/28/2025 | None | Consumer Goods: Durable | 559 | — | — | |||||||||||||||||||||||||||
INW Manufacturing, LLC, L+575, 0.75% LIBOR Floor, 5/7/2027(n) | 3 Month LIBOR | Services: Business | 19,250 | 18,766 | 18,191 | |||||||||||||||||||||||||||
Isagenix International, LLC, L+575, 1.00% LIBOR Floor, 6/14/2025(m) | 3 Month LIBOR | Beverage, Food & Tobacco | 15,994 | 14,706 | 13,755 | |||||||||||||||||||||||||||
Jenny C Acquisition, Inc., L+900, 1.75% LIBOR Floor, 10/1/2024(m)(t) | 3 Month LIBOR | Services: Consumer | 11,664 | 11,620 | 9,687 | |||||||||||||||||||||||||||
JP Intermediate B, LLC, L+550, 1.00% LIBOR Floor, 11/20/2025(m) | 3 Month LIBOR | Beverage, Food & Tobacco | 13,896 | 13,732 | 11,638 | |||||||||||||||||||||||||||
K&N Parent, Inc., L+475, 1.00% LIBOR Floor, 10/20/2023 | 3 Month LIBOR | Consumer Goods: Durable | 13,090 | 12,647 | 12,370 | |||||||||||||||||||||||||||
Klein Hersh, LLC, S+750, 0.50% SOFR Floor, 4/27/2027(m) | 3 Month SOFR | Services: Business | 19,922 | 19,922 | 19,922 | |||||||||||||||||||||||||||
KNB Holdings Corp., L+550, 1.00% LIBOR Floor, 4/26/2024(m) | 6 Month LIBOR | Consumer Goods: Durable | 7,744 | 7,677 | 4,346 | |||||||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC, L+575, 0.75% LIBOR Floor, 10/12/2027(m) | 3 Month LIBOR | Services: Consumer | 9,950 | 9,772 | 9,807 | |||||||||||||||||||||||||||
LAV Gear Holdings, Inc., S+750, 1.00% SOFR Floor, 10/31/2024(m)(n)(t) | 3 Month SOFR | Services: Business | 27,914 | 27,640 | 27,077 | |||||||||||||||||||||||||||
LAV Gear Holdings, Inc., S+750, 1.00% SOFR Floor, 10/31/2024(m)(n)(t) | 3 Month SOFR | Services: Business | 4,579 | 4,550 | 4,442 | |||||||||||||||||||||||||||
LGC US Finco, LLC, L+650, 1.00% LIBOR Floor, 12/20/2025(m) | 1 Month LIBOR | Capital Equipment | 11,699 | 11,409 | 11,348 | |||||||||||||||||||||||||||
LH Intermediate Corp., L+750, 1.00% LIBOR Floor, 6/2/2026(m) | 3 Month LIBOR | Consumer Goods: Durable | 14,063 | 13,880 | 14,063 | |||||||||||||||||||||||||||
Lift Brands, Inc., L+750, 1.00% LIBOR Floor, 6/29/2025(m)(n) | 1 Month LIBOR | Services: Consumer | 23,405 | 23,405 | 23,288 | |||||||||||||||||||||||||||
Lift Brands, Inc., 9.50%, 6/29/2025(m)(n) | None | Services: Consumer | 5,556 | 5,481 | 5,126 | |||||||||||||||||||||||||||
Lift Brands, Inc., 6/29/2025(m)(n)(p) | None | Services: Consumer | 5,296 | 4,880 | 4,594 | |||||||||||||||||||||||||||
Longview Power, LLC, L+1000, 1.50% LIBOR Floor, 7/30/2025(r) | 3 Month LIBOR | Energy: Oil & Gas | 4,168 | 2,693 | 4,533 | |||||||||||||||||||||||||||
MacNeill Pride Group Corp., S+625, 1.00% SOFR Floor, 4/28/2026(m) | 3 Month SOFR | Services: Consumer | 17,895 | 17,780 | 17,626 | |||||||||||||||||||||||||||
MacNeill Pride Group Corp., S+625, 1.00% SOFR Floor, 4/28/2026(m) | 3 Month SOFR | Services: Consumer | 7,949 | 7,887 | 7,830 | |||||||||||||||||||||||||||
MacNeill Pride Group Corp., 1.00% Unfunded, 4/30/2024 | None | Services: Consumer | 2,017 | (18) | (30) | |||||||||||||||||||||||||||
Manus Bio Inc., 11.00%, 8/20/2026 | None | Healthcare & Pharmaceuticals | 15,000 | 14,902 | 15,000 | |||||||||||||||||||||||||||
Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028 | 3 Month LIBOR | Diversified Financials | 6,253 | 6,141 | 6,245 | |||||||||||||||||||||||||||
Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028 | 3 Month LIBOR | Diversified Financials | 1,474 | 1,454 | 1,473 | |||||||||||||||||||||||||||
Marble Point Credit Management LLC, 0.50% Unfunded, 8/11/2028 | None | Diversified Financials | — | — | — | |||||||||||||||||||||||||||
Mimeo.com, Inc., L+640, 1.00% LIBOR Floor, 12/21/2024 | 3 Month LIBOR | Services: Business | 22,673 | 22,673 | 22,503 | |||||||||||||||||||||||||||
Mimeo.com, Inc., L+640, 1.00% LIBOR Floor, 12/21/2024 | 3 Month LIBOR | Services: Business | 1,256 | 1,256 | 1,246 | |||||||||||||||||||||||||||
Mimeo.com, Inc., 1.00% Unfunded, 12/21/2024 | None | Services: Business | 4,000 | — | (30) | |||||||||||||||||||||||||||
Molded Devices, Inc., L+600, 1.00% LIBOR Floor, 11/1/2026(m) | 3 Month LIBOR | Services: Business | 15,496 | 15,361 | 15,496 | |||||||||||||||||||||||||||
Molded Devices, Inc., L+600, 1.00% LIBOR Floor, 11/1/2026 | 3 Month LIBOR | Services: Business | 1,098 | 1,082 | 1,098 | |||||||||||||||||||||||||||
Molded Devices, Inc., 1.00% Unfunded, 11/1/2026 | None | Services: Business | 673 | — | — | |||||||||||||||||||||||||||
Molded Devices, Inc., 0.50% Unfunded, 11/1/2026 | None | Services: Business | 2,656 | (11) | — | |||||||||||||||||||||||||||
Moss Holding Company, S+700, 1.00% SOFR Floor, 4/17/2024(m)(n)(t) | 3 Month SOFR | Services: Business | 19,660 | 19,553 | 18,628 | |||||||||||||||||||||||||||
Moss Holding Company, 7.00% Unfunded, 4/17/2023 | None | Services: Business | 106 | — | — | |||||||||||||||||||||||||||
Moss Holding Company, 0.50% Unfunded, 4/17/2023 | None | Services: Business | 2,126 | — | (117) | |||||||||||||||||||||||||||
NASCO Healthcare Inc., L+550, 1.00% LIBOR Floor, 6/30/2023(m) | 3 Month LIBOR | Services: Business | 9,536 | 9,536 | 9,536 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Inotiv, Inc.(m)(x) | L+625, 1.00% LIBOR Floor | 11/5/2026 | Healthcare & Pharmaceuticals | 12,208 | 12,005 | 11,780 | ||||||||||||||||||||||||||||||||
Inotiv, Inc. | 1.00% Unfunded | 5/5/2023 | Healthcare & Pharmaceuticals | 2,100 | (36) | (74) | ||||||||||||||||||||||||||||||||
Instant Web, LLC(m)(n)(r)(t)(w) | L+700, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 38,727 | 38,717 | 27,642 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | Prime+375 | 2/25/2027 | Media: Advertising, Printing & Publishing | 458 | 458 | 457 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r)(w) | L+650, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 105 | 105 | 105 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | 0.50% Unfunded | 2/25/2027 | Media: Advertising, Printing & Publishing | 2,599 | — | (3) | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | 0.50% Unfunded | 2/25/2027 | Media: Advertising, Printing & Publishing | 3,246 | — | (4) | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 559 | 559 | 556 | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(m)(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 13,536 | 13,439 | 13,469 | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC | 0.50% Unfunded | 8/28/2025 | Consumer Goods: Durable | 239 | — | (1) | ||||||||||||||||||||||||||||||||
INW Manufacturing, LLC(n)(x) | L+575, 0.75% LIBOR Floor | 5/7/2027 | Services: Business | 19,000 | 18,540 | 17,908 | ||||||||||||||||||||||||||||||||
Isagenix International, LLC(m)(x) | L+775, 1.00% LIBOR Floor | 6/14/2025 | Beverage, Food & Tobacco | 16,229 | 15,021 | 13,064 | ||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc.(t)(x) | L+900, 1.75% LIBOR Floor | 10/1/2024 | Services: Consumer | 11,789 | 11,749 | 9,465 | ||||||||||||||||||||||||||||||||
JP Intermediate B, LLC(m)(x) | L+550, 1.00% LIBOR Floor | 11/20/2025 | Beverage, Food & Tobacco | 13,667 | 13,514 | 10,341 | ||||||||||||||||||||||||||||||||
K&N Parent, Inc.(w) | L+475, 1.00% LIBOR Floor | 10/20/2023 | Consumer Goods: Durable | 13,055 | 12,693 | 12,419 | ||||||||||||||||||||||||||||||||
Klein Hersh, LLC(m)(z) | S+750, 0.50% SOFR Floor | 4/27/2027 | Services: Business | 19,844 | 19,844 | 19,844 | ||||||||||||||||||||||||||||||||
KNB Holdings Corp.(m)(y) | L+550, 1.00% LIBOR Floor | 4/26/2024 | Consumer Goods: Durable | 7,689 | 7,629 | 3,652 | ||||||||||||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC(m)(x) | L+575, 0.75% LIBOR Floor | 10/12/2027 | Services: Consumer | 6,384 | 6,273 | 6,280 | ||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(t)(aa) | S+625, 1.00% SOFR Floor | 10/31/2024 | Services: Business | 27,920 | 27,668 | 27,292 | ||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(t)(aa) | S+625, 1.00% SOFR Floor | 10/31/2024 | Services: Business | 4,580 | 4,553 | 4,477 | ||||||||||||||||||||||||||||||||
LGC US Finco, LLC(m)(w) | L+650, 1.00% LIBOR Floor | 12/20/2025 | Capital Equipment | 11,576 | 11,305 | 11,229 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r)(w) | L+750, 1.00% LIBOR Floor | 6/29/2025 | Services: Consumer | 23,346 | 23,346 | 23,346 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r) | 9.50% | 6/29/2025 | Services: Consumer | 5,556 | 5,485 | 5,084 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r) | (p) | 6/29/2025 | Services: Consumer | 5,296 | 4,914 | 4,554 | ||||||||||||||||||||||||||||||||
Longview Power, LLC(r)(x) | L+1000, 1.50% LIBOR Floor | 7/30/2025 | Energy: Oil & Gas | 2,084 | 1,371 | 2,298 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(aa) | S+625, 1.00% SOFR Floor | 4/22/2026 | Services: Consumer | 17,850 | 17,741 | 17,582 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(aa) | S+625, 1.00% SOFR Floor | 4/22/2026 | Services: Consumer | 7,930 | 7,853 | 7,811 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp. | 1.00% Unfunded | 4/30/2024 | Services: Consumer | 2,017 | — | (30) | ||||||||||||||||||||||||||||||||
Manus Bio Inc. | 11.00% | 8/20/2026 | Healthcare & Pharmaceuticals | 14,850 | 14,757 | 14,850 | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC(x) | L+600, 1.00% LIBOR Floor | 8/11/2028 | Diversified Financials | 1,456 | 1,436 | 1,454 | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC(x) | L+600, 1.00% LIBOR Floor | 8/11/2028 | Diversified Financials | 6,171 | 6,063 | 6,163 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc.(x) | L+680, 1.00% LIBOR Floor | 12/21/2024 | Services: Business | 2,256 | 2,256 | 2,239 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc.(x) | L+680, 1.00% LIBOR Floor | 12/21/2024 | Services: Business | 22,501 | 22,501 | 22,332 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc. | 1.00% Unfunded | 12/21/2024 | Services: Business | 3,000 | — | (23) | ||||||||||||||||||||||||||||||||
Moss Holding Company(m)(n)(t)(aa) | S+700, 1.00% SOFR Floor | 4/17/2024 | Services: Business | 19,627 | 19,535 | 18,891 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Neptune Flood Inc., L+600, 1.00% LIBOR Floor, 10/21/2026(m) | 3 Month LIBOR | Banking, Finance, Insurance & Real Estate | 9,117 | 9,058 | 9,117 | |||||||||||||||||||||||||||
NewsCycle Solutions, Inc., L+700, 1.00% LIBOR Floor, 12/29/2022(m)(n) | 3 Month LIBOR | Media: Advertising, Printing & Publishing | 12,508 | 12,483 | 12,508 | |||||||||||||||||||||||||||
Novum Orthopedic Partners Management, LLC, L+525, 1.00% LIBOR Floor, 12/29/2027(m) | 6 Month LIBOR | Healthcare & Pharmaceuticals | 10,083 | 9,936 | 10,083 | |||||||||||||||||||||||||||
Novum Orthopedic Partners Management, LLC, 1.00% Unfunded, 12/29/2023 | None | Healthcare & Pharmaceuticals | 4,891 | (47) | — | |||||||||||||||||||||||||||
NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026(m) | 3 Month LIBOR | High Tech Industries | 13,033 | 12,929 | 13,000 | |||||||||||||||||||||||||||
NWN Parent Holdings LLC, 0.50% Unfunded, 5/7/2026 | None | High Tech Industries | 1,800 | (18) | (5) | |||||||||||||||||||||||||||
Optio Rx, LLC, L+700, 0.00% LIBOR Floor, 6/28/2024(m)(n) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 22,719 | 22,649 | 22,548 | |||||||||||||||||||||||||||
Optio Rx, LLC, L+1000, 0.00% LIBOR Floor, 6/28/2024(n) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 2,515 | 2,501 | 2,631 | |||||||||||||||||||||||||||
Optio Rx, LLC, 0.00% Unfunded, 12/21/2022(m)(n)(o) | None | Healthcare & Pharmaceuticals | 1,530 | — | (11) | |||||||||||||||||||||||||||
Pentec Acquisition Corp., L+600, 1.00% LIBOR Floor, 10/8/2026(m) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 24,875 | 24,660 | 24,564 | |||||||||||||||||||||||||||
PH Beauty Holdings III. Inc., L+500, 0.00% LIBOR Floor, 9/28/2025(m) | 3 Month LIBOR | Consumer Goods: Non-Durable | 9,625 | 9,183 | 8,759 | |||||||||||||||||||||||||||
Playboy Enterprises, Inc., L+575, 0.50% LIBOR Floor, 5/25/2027(h)(n) | 3 Month LIBOR | Consumer Goods: Non-Durable | 28,463 | 27,917 | 25,901 | |||||||||||||||||||||||||||
Polymer Additives, Inc., L+600, 0.00% LIBOR Floor, 7/31/2025(m) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 19,300 | 19,107 | 18,624 | |||||||||||||||||||||||||||
Project Castle, Inc., S+550, 0.50% SOFR Floor, 6/1/2029(i)(m) | 1 Month SOFR | Services: Business | 10,000 | 8,950 | 8,950 | |||||||||||||||||||||||||||
RA Outdoors, LLC, S+675, 1.00% SOFR Floor, 4/8/2026(m) | 3 Month SOFR | Media: Diversified & Production | 10,979 | 10,979 | 10,938 | |||||||||||||||||||||||||||
RA Outdoors, LLC, 0.50% Unfunded, 4/8/2026 | None | Media: Diversified & Production | 1,049 | (170) | (4) | |||||||||||||||||||||||||||
Retail Services WIS Corp., L+775, 1.00% LIBOR Floor, 5/20/2025(m) | 3 Month LIBOR | Services: Business | 9,799 | 9,601 | 9,652 | |||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P., L+1200, 2.00% LIBOR Floor, 12/17/2022(m)(t) | 1 Month LIBOR | Services: Consumer | 1,686 | 1,686 | 1,686 | |||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC, L+650, 1.00% LIBOR Floor, 9/9/2025(m) | 1 Month LIBOR | Services: Business | 16,808 | 16,808 | 16,808 | |||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC, 1.00% Unfunded, 9/9/2025 | None | Services: Business | 1,923 | — | — | |||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC, 0.75% Unfunded, 9/9/2022 | None | Services: Business | 2,885 | — | — | |||||||||||||||||||||||||||
RumbleOn, Inc., L+825, 1.00% LIBOR Floor, 8/31/2026 | 3 Month LIBOR | Automotive | 4,204 | 4,171 | 3,983 | |||||||||||||||||||||||||||
RumbleOn, Inc., L+825, 1.00% LIBOR Floor, 8/31/2026(m) | 3 Month LIBOR | Automotive | 13,895 | 12,983 | 13,166 | |||||||||||||||||||||||||||
RumbleOn, Inc., 0.00% Unfunded, 2/28/2023(o) | None | Automotive | 1,775 | (18) | (93) | |||||||||||||||||||||||||||
Securus Technologies Holdings, Inc., L+450, 1.00% LIBOR Floor, 11/1/2024(m) | 3 Month LIBOR | Telecommunications | 3,888 | 3,291 | 3,888 | |||||||||||||||||||||||||||
Sequoia Healthcare Management, LLC, 12.75%, 8/21/2023(m)(n)(q) | None | Healthcare & Pharmaceuticals | 8,525 | 8,457 | 6,394 | |||||||||||||||||||||||||||
Service Compression, LLC, S+1000, 1.00% SOFR Floor, 5/6/2027(m)(t) | 3 Month SOFR | Energy: Oil & Gas | 22,674 | 22,297 | 22,277 | |||||||||||||||||||||||||||
Service Compression, LLC, 0.50% Unfunded, 5/6/2025 | None | Energy: Oil & Gas | 7,326 | (120) | (128) | |||||||||||||||||||||||||||
SIMR, LLC, L+1700, 2.00% LIBOR Floor, 9/7/2023(q)(r)(t) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 22,066 | 21,277 | 18,094 | |||||||||||||||||||||||||||
Sleep Opco, LLC, L+650, 1.00% LIBOR Floor, 10/12/2026(m) | 3 Month LIBOR | Retail | 13,184 | 12,954 | 13,068 | |||||||||||||||||||||||||||
Sleep Opco, LLC, 0.50% Unfunded, 10/12/2026 | None | Retail | 1,750 | (30) | (15) | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 12,465 | 12,456 | 9,972 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 1,106 | 1,106 | 841 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 723 | 674 | 546 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Moss Holding Company | 0.50% Unfunded | 4/17/2023 | Services: Business | 2,232 | — | (84) | ||||||||||||||||||||||||||||||||
NASCO Healthcare Inc.(m)(x) | L+550, 1.00% LIBOR Floor | 6/30/2023 | Services: Business | 9,051 | 9,051 | 9,051 | ||||||||||||||||||||||||||||||||
Neptune Flood Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 10/21/2026 | Banking, Finance, Insurance & Real Estate | 8,733 | 8,679 | 8,821 | ||||||||||||||||||||||||||||||||
NewsCycle Solutions, Inc.(m)(n)(x) | L+700, 1.00% LIBOR Floor | 12/29/2022 | Media: Advertising, Printing & Publishing | 12,476 | 12,463 | 12,476 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(m)(x) | L+650, 1.00% LIBOR Floor | 5/7/2026 | High Tech Industries | 12,999 | 12,900 | 12,918 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(x) | L+650, 1.00% LIBOR Floor | 5/7/2026 | High Tech Industries | 810 | 792 | 805 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC | 0.50% Unfunded | 5/7/2026 | High Tech Industries | 990 | — | (6) | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(m)(z) | S+650, 1.00% SOFR Floor | 8/19/2027 | Healthcare & Pharmaceuticals | 11,458 | 11,333 | 11,344 | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(z) | S+650, 1.00% SOFR Floor | 8/19/2027 | Healthcare & Pharmaceuticals | 417 | 417 | 413 | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC | 0.50% Unfunded | 8/19/2027 | Healthcare & Pharmaceuticals | 625 | — | (6) | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(m)(n)(w) | L+700, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 22,406 | 22,345 | 22,322 | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(n)(w) | L+1000, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 2,515 | 2,502 | 2,622 | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(o) | 0.00% Unfunded | 12/21/2022 | Healthcare & Pharmaceuticals | 1,530 | — | (6) | ||||||||||||||||||||||||||||||||
Pentec Acquisition Corp.(m)(w) | L+600, 1.00% LIBOR Floor | 10/8/2026 | Healthcare & Pharmaceuticals | 24,813 | 24,605 | 24,564 | ||||||||||||||||||||||||||||||||
PH Beauty Holdings III. Inc.(m)(x) | L+500, 0.00% LIBOR Floor | 9/28/2025 | Consumer Goods: Non-Durable | 9,600 | 9,188 | 8,640 | ||||||||||||||||||||||||||||||||
Playboy Enterprises, Inc.(h)(n)(y) | L+625, 0.50% LIBOR Floor | 5/25/2027 | Consumer Goods: Non-Durable | 28,391 | 27,852 | 27,007 | ||||||||||||||||||||||||||||||||
Project Castle, Inc.(m)(aa) | S+550, 0.50% SOFR Floor | 6/1/2029 | Services: Business | 10,000 | 8,975 | 8,525 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | S+675, 1.00% SOFR Floor | 4/8/2026 | Media: Diversified & Production | 10,979 | 10,979 | 10,952 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC | 0.50% Unfunded | 4/8/2026 | Media: Diversified & Production | 1,049 | (170) | (3) | ||||||||||||||||||||||||||||||||
Retail Services WIS Corp.(m)(x) | L+775, 1.00% LIBOR Floor | 5/20/2025 | Services: Business | 9,674 | 9,488 | 9,480 | ||||||||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P.(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2022 | Services: Consumer | 1,747 | 1,747 | 1,747 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC(m)(w) | L+650, 1.00% LIBOR Floor | 9/9/2025 | Services: Business | 16,587 | 16,587 | 16,545 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 1.00% Unfunded | 9/9/2025 | Services: Business | 1,923 | — | (5) | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 0.75% Unfunded | 4/28/2023 | Services: Business | 2,885 | — | (7) | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 4,193 | 4,145 | 3,994 | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(m)(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 13,860 | 12,994 | 13,202 | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(o) | 0.00% Unfunded | 2/28/2023 | Automotive | 1,775 | — | (84) | ||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(m)(x) | L+450, 1.00% LIBOR Floor | 11/1/2024 | Telecommunications | 3,878 | 3,337 | 3,873 | ||||||||||||||||||||||||||||||||
Sequoia Healthcare Management, LLC(m)(n)(q) | 12.75% | 8/21/2023 | Healthcare & Pharmaceuticals | 8,525 | 8,457 | 6,650 | ||||||||||||||||||||||||||||||||
Service Compression, LLC(m)(t)(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 22,860 | 22,495 | 22,574 | ||||||||||||||||||||||||||||||||
Service Compression, LLC(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 349 | 235 | 344 | ||||||||||||||||||||||||||||||||
Service Compression, LLC | 0.50% Unfunded | 5/6/2025 | Energy: Oil & Gas | 6,977 | — | (87) | ||||||||||||||||||||||||||||||||
Sleep Opco, LLC(m)(x) | L+650, 1.00% LIBOR Floor | 10/12/2026 | Retail | 13,819 | 13,599 | 13,663 | ||||||||||||||||||||||||||||||||
Sleep Opco, LLC | 0.50% Unfunded | 10/12/2026 | Retail | 1,750 | (29) | (20) | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 1,136 | 1,136 | 784 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 681 | 679 | 518 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 573 | 534 | 467 | |||||||||||||||||||||||||||
Tenere Inc., L+850, 1.00% LIBOR Floor, 5/5/2025(m)(n) | 3 Month LIBOR | Capital Equipment | 18,080 | 18,071 | 18,080 | |||||||||||||||||||||||||||
Thrill Holdings LLC, S+650, 1.00% SOFR Floor, 5/27/2027(m) | 6 Month SOFR | Media: Diversified & Production | 20,652 | 20,652 | 20,652 | |||||||||||||||||||||||||||
Thrill Holdings LLC, 1.00% Unfunded, 5/27/2024 | None | Media: Diversified & Production | 3,261 | — | — | |||||||||||||||||||||||||||
Thrill Holdings LLC, 0.50% Unfunded, 5/27/2027 | None | Media: Diversified & Production | 1,739 | — | — | |||||||||||||||||||||||||||
Tony's Finer Foods Enterprises, LLC, S+600, 1.00% SOFR Floor, 4/20/2028(n) | 3 Month SOFR | Services: Consumer | 17,674 | 17,503 | 17,674 | |||||||||||||||||||||||||||
Tony's Finer Foods Enterprises, LLC, 0.50% Unfunded, 4/20/2027 | None | Services: Consumer | 2,326 | — | — | |||||||||||||||||||||||||||
Trademark Global, LLC, L+625, 1.00% LIBOR Floor, 7/30/2024 | 1 Month LIBOR | Services: Business | 15,269 | 15,215 | 14,449 | |||||||||||||||||||||||||||
Trademark Global, LLC, 1.00% Unfunded, 7/30/2023 | None | Services: Business | 4,615 | (17) | (248) | |||||||||||||||||||||||||||
Trammell, P.C., S+1550, 2.00% SOFR Floor, 4/28/2026(t) | 1 Month SOFR | Services: Consumer | 13,211 | 13,211 | 13,211 | |||||||||||||||||||||||||||
USALCO, LLC, L+600, 1.00% LIBOR Floor, 10/19/2027(m) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 24,875 | 24,653 | 24,782 | |||||||||||||||||||||||||||
Vesta Holdings, LLC, L+1000, 1.00% LIBOR Floor, 2/25/2024(m) | 1 Month LIBOR | Banking, Finance, Insurance & Real Estate | 23,782 | 23,782 | 23,782 | |||||||||||||||||||||||||||
Volta Charging, LLC, 12.00%, 6/19/2024(m) | None | Media: Diversified & Production | 12,000 | 11,989 | 13,035 | |||||||||||||||||||||||||||
Volta Charging, LLC, 12.00%, 6/19/2024(m) | None | Media: Diversified & Production | 6,000 | 6,000 | 6,518 | |||||||||||||||||||||||||||
Williams Industrial Services Group, Inc., L+900, 1.00% LIBOR Floor, 12/16/2025(n) | 1 Month LIBOR | Services: Business | 9,625 | 9,625 | 9,588 | |||||||||||||||||||||||||||
Wind River Systems, Inc., L+675, 1.00% LIBOR Floor, 6/24/2024(n) | 3 Month LIBOR | High Tech Industries | 23,026 | 22,889 | 23,026 | |||||||||||||||||||||||||||
Wok Holdings Inc., L+625, 0.00% LIBOR Floor, 3/1/2026(m) | 3 Month LIBOR | Beverage, Food & Tobacco | 20,235 | 19,831 | 18,414 | |||||||||||||||||||||||||||
WorkGenius, Inc., S+700, 0.50% SOFR Floor, 6/7/2027(m) | 3 Month SOFR | Services: Business | 13,000 | 13,000 | 13,000 | |||||||||||||||||||||||||||
Xenon Arc, Inc., L+525, 0.75% LIBOR Floor, 12/17/2027(m) | 3 Month LIBOR | High Tech Industries | 9,950 | 9,840 | 9,776 | |||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | 1,732,780 | 1,660,828 | ||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt - 3.0% | ||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc., L+850, 1.00% LIBOR Floor, 9/25/2024(m)(q)(r)(t) | 3 Month LIBOR | Media: Diversified & Production | 10,666 | 10,017 | — | |||||||||||||||||||||||||||
Global Tel*Link Corp., S+1000, 0.00% SOFR Floor, 11/29/2026(n) | 1 Month SOFR | Telecommunications | 11,500 | 11,369 | 11,471 | |||||||||||||||||||||||||||
Premiere Global Services, Inc., L+950, 1.00% LIBOR Floor, 6/6/2024(q)(t) | 3 Month LIBOR | Telecommunications | 3,968 | 3,364 | — | |||||||||||||||||||||||||||
RA Outdoors, LLC, S+900, 1.00% SOFR Floor, 10/8/2026(m) | 3 Month SOFR | Media: Diversified & Production | 1,836 | 1,836 | 1,832 | |||||||||||||||||||||||||||
Securus Technologies Holdings, Inc., L+825, 1.00% LIBOR Floor, 11/1/2025 | 3 Month LIBOR | Telecommunications | 2,942 | 2,926 | 2,935 | |||||||||||||||||||||||||||
TMK Hawk Parent, Corp., L+800, 1.00% LIBOR Floor, 8/28/2025 | 1 Month LIBOR | Services: Business | 13,393 | 13,225 | 10,848 | |||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | 42,737 | 27,086 | ||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity - 0.2% | ||||||||||||||||||||||||||||||||
APIDOS CLO XVI Subordinated Notes, 0.00% Estimated Yield, 1/19/2025(h) | (g) | Diversified Financials | 9,000 | 1,279 | 89 | |||||||||||||||||||||||||||
Galaxy XV CLO Ltd. Class A Subordinated Notes, 19.30% Estimated Yield, 4/15/2025(h) | (g) | Diversified Financials | 4,000 | 1,562 | 1,513 | |||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | 2,841 | 1,602 | ||||||||||||||||||||||||||||||
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 12,894 | 12,894 | 9,412 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 742 | 742 | 512 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 700 | 700 | 483 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 588 | 588 | 438 | ||||||||||||||||||||||||||||||||
STATinMED, LLC(r)(t)(z) | S+950, 2.00% SOFR Floor | 7/1/2027 | Healthcare & Pharmaceuticals | 8,931 | 8,931 | 8,886 | ||||||||||||||||||||||||||||||||
Thrill Holdings LLC(m)(aa) | S+650, 1.00% SOFR Floor | 5/27/2027 | Media: Diversified & Production | 20,523 | 20,523 | 20,420 | ||||||||||||||||||||||||||||||||
Thrill Holdings LLC | 1.00% Unfunded | 5/27/2024 | Media: Diversified & Production | 3,261 | — | (16) | ||||||||||||||||||||||||||||||||
Thrill Holdings LLC | 0.50% Unfunded | 5/27/2027 | Media: Diversified & Production | 1,739 | — | (9) | ||||||||||||||||||||||||||||||||
Trademark Global, LLC(w) | L+625, 1.00% LIBOR Floor | 7/30/2024 | Services: Business | 15,231 | 15,180 | 14,469 | ||||||||||||||||||||||||||||||||
Trademark Global, LLC | 1.00% Unfunded | 7/30/2023 | Services: Business | 4,615 | (15) | (231) | ||||||||||||||||||||||||||||||||
Trammell, P.C.(t)(z) | S+1550, 2.00% SOFR Floor | 4/28/2026 | Services: Consumer | 13,810 | 13,810 | 13,758 | ||||||||||||||||||||||||||||||||
USALCO, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 10/19/2027 | Chemicals, Plastics & Rubber | 24,813 | 24,596 | 24,719 | ||||||||||||||||||||||||||||||||
Vesta Holdings, LLC(m)(t)(w) | L+1000, 1.00% LIBOR Floor | 2/25/2024 | Banking, Finance, Insurance & Real Estate | 25,979 | 25,979 | 25,979 | ||||||||||||||||||||||||||||||||
Volta Charging, LLC(m) | 12.00% | 6/19/2024 | Media: Diversified & Production | 12,000 | 11,988 | 13,020 | ||||||||||||||||||||||||||||||||
Volta Charging, LLC(m) | 12.00% | 6/19/2024 | Media: Diversified & Production | 3,000 | 3,000 | 3,255 | ||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc.(n)(x) | L+900, 1.00% LIBOR Floor | 12/16/2025 | Services: Business | 7,173 | 7,173 | 7,146 | ||||||||||||||||||||||||||||||||
Wind River Systems, Inc.(n)(x) | L+625, 1.00% LIBOR Floor | 6/24/2024 | High Tech Industries | 22,697 | 22,577 | 22,697 | ||||||||||||||||||||||||||||||||
Wok Holdings Inc.(m)(x) | L+650, 0.00% LIBOR Floor | 3/1/2026 | Beverage, Food & Tobacco | 25,170 | 24,347 | 22,307 | ||||||||||||||||||||||||||||||||
WorkGenius, Inc.(m)(aa) | S+700, 0.50% SOFR Floor | 6/7/2027 | Services: Business | 12,969 | 12,969 | 12,969 | ||||||||||||||||||||||||||||||||
Xenon Arc, Inc.(m)(x) | L+525, 0.75% LIBOR Floor | 12/17/2027 | High Tech Industries | 6,933 | 6,859 | 6,846 | ||||||||||||||||||||||||||||||||
Yak Access, LLC(m)(x) | L+500, 0.00% LIBOR Floor | 7/11/2025 | Construction & Building | 4,925 | 3,188 | 3,208 | ||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | 1,690,919 | 1,616,352 | ||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt - 4.2% | ||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(x) | L+850, 1.00% LIBOR Floor | 9/25/2024 | Media: Diversified & Production | 10,735 | — | — | ||||||||||||||||||||||||||||||||
Global Tel*Link Corp.(n)(aa) | S+1000, 0.00% SOFR Floor | 11/29/2026 | Telecommunications | 11,500 | 11,374 | 11,471 | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(m) | 12.50% | 2/19/2028 | Healthcare & Pharmaceuticals | 12,500 | 11,625 | 11,375 | ||||||||||||||||||||||||||||||||
Premiere Global Services, Inc.(q)(t)(x) | L+950, 1.00% LIBOR | 6/6/2024 | Telecommunications | 3,968 | — | — | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | S+900, 1.00% SOFR Floor | 10/8/2026 | Media: Diversified & Production | 1,827 | 1,827 | 1,827 | ||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(x) | L+825, 1.00% LIBOR Floor | 11/1/2025 | Telecommunications | 2,942 | 2,927 | 2,910 | ||||||||||||||||||||||||||||||||
TMK Hawk Parent, Corp.(x) | L+800, 1.00% LIBOR Floor | 8/28/2025 | Services: Business | 13,393 | 13,235 | 11,133 | ||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | 40,988 | 38,716 | ||||||||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity - 0.1% | ||||||||||||||||||||||||||||||||||||||
APIDOS CLO XVI Subordinated Notes(g)(h) | 0.00% Estimated Yield | 1/19/2025 | Diversified Financials | 9,000 | 1,247 | 59 | ||||||||||||||||||||||||||||||||
Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h) | 19.30% Estimated Yield | 4/15/2025 | Diversified Financials | 4,000 | 1,486 | 1,307 | ||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | 2,733 | 1,366 |
Portfolio Company(a) | Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | Portfolio Company(a) | Interest | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured Debt - 3.1% | Unsecured Debt - 3.1% | Unsecured Debt - 3.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC, 12.50%, 5/29/2028(t) | None | Hotel, Gaming & Leisure | 21,492 | 21,492 | 21,465 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WPLM Acquisition Corp., 15.00%, 11/24/2025(t) | None | Media: Advertising, Printing & Publishing | 6,628 | 6,565 | 6,529 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC(t) | Lucky Bucks Holdings LLC(t) | 12.50% | 5/29/2028 | Hotel, Gaming & Leisure | 22,169 | 22,169 | 21,947 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WPLM Acquisition Corp.(t) | WPLM Acquisition Corp.(t) | 15.00% | 11/24/2025 | Media: Advertising, Printing & Publishing | 6,628 | 6,569 | 6,372 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Unsecured Debt | Total Unsecured Debt | 28,057 | 27,994 | Total Unsecured Debt | 28,738 | 28,319 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity - 8.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity - 12.3% | Equity - 12.3% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | — | ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | 416 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Membership Units(o) | Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 1,169 | Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 1,278 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Warrants(o) | Ascent Resources - Marcellus, LLC, Warrants(o) | Energy: Oil & Gas | 132,367 Units | 13 | 3 | Ascent Resources - Marcellus, LLC, Warrants(o) | Energy: Oil & Gas | 132,367 Units | 13 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings Inc., Common Stock(o)(r) | Carestream Health Holdings Inc., Common Stock(o)(r) | Healthcare & Pharmaceuticals | 613,262 Units | 21,759 | 21,758 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CF Arch Holdings LLC(o) | CF Arch Holdings LLC(o) | Services: Business | 380,952 Units | 381 | 381 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 27,871 | CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 35,169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | Diversified Financials | NA | — | — | CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | Diversified Financials | NA | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A1 Preferred Stock(o) | DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | 2,326 | DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | 165 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A2 Preferred Stock(o) | DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 192 | DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A Preferred Stock(o) | DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 168 | DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series B Preferred Stock(o) | DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 138 | DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Common Stock(o) | DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | 30 | DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Reallocation Rights(o) | DBI Investors, Inc., Reallocation Rights(o) | Retail | 7,500 Units | — | 2 | DBI Investors, Inc., Reallocation Rights(o) | Retail | 7,500 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc., Common Shares(o)(r) | GSC Technologies Inc., Common Shares(o)(r) | Chemicals, Plastics & Rubber | 807,268 Units | — | — | GSC Technologies Inc., Common Shares(o)(r) | Chemicals, Plastics & Rubber | 807,268 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Retail | 1,000,000 Units | 1,000 | 90 | Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Retail | 1,000,000 Units | 1,000 | 80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(o) | Retail | 2,632,771 Units | 2,133 | 3,739 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(o) | Retail | 2,632,771 Units | 2,633 | 2,264 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(m)(o) | Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(m)(o) | Retail | 2,632,771 Units | 2,133 | 3,396 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(m)(o) | Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(m)(o) | Retail | 2,632,771 Units | 2,633 | 2,264 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Retail | 155,880 Units | — | — | Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Retail | 155,880 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web Holdings, LLC, Class A Common Units(o)(r) | Instant Web Holdings, LLC, Class A Common Units(o)(r) | Media: Advertising, Printing & Publishing | 10,819 Units | — | — | Instant Web Holdings, LLC, Class A Common Units(o)(r) | Media: Advertising, Printing & Publishing | 10,819 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings GP LLC, Common Units(o) | Services: Business | 366,667 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings LP, Ordinary Common Units(o) | Services: Business | 366,667 Units | 825 | 887 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings GP LLC, Common Units(o)(r) | Language Education Holdings GP LLC, Common Units(o)(r) | Services: Business | 366,667 Units | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings LP, Ordinary Common Units(o)(r) | Language Education Holdings LP, Ordinary Common Units(o)(r) | Services: Business | 366,667 Units | 825 | 1,001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 18,979 | Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 22,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mooregate ITC Acquisition, LLC, Class A Units(o) | High Tech Industries | 500 Units | 562 | 252 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc., Common Stock(f)(h)(r) | Mount Logan Capital Inc., Common Stock(f)(h)(r) | Banking, Finance, Insurance & Real Estate | 1,075,557 Units | 3,534 | 2,841 | Mount Logan Capital Inc., Common Stock(f)(h)(r) | Banking, Finance, Insurance & Real Estate | 1,075,557 Units | 3,534 | 2,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Giving Acquisition, Inc.(o) | New Giving Acquisition, Inc.(o) | Healthcare & Pharmaceuticals | 4,630 Units | 633 | 602 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Class A Preferred Units(o) | NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 2,018 | NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 2,053 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Non-Voting Units(o) | NS NWN Acquisition, LLC, Non-Voting Units(o) | High Tech Industries | 346 Units | 393 | — | NS NWN Acquisition, LLC, Non-Voting Units(o) | High Tech Industries | 346 Units | 393 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Holdco LLC, Voting Units(o) | NS NWN Holdco LLC, Voting Units(o) | High Tech Industries | 522 Units | 504 | 445 | NS NWN Holdco LLC, Voting Units(o) | High Tech Industries | 522 Units | 504 | 453 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 644 | NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 636 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palmetto Clean Technology, Inc., Warrants(o) | Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 472 | 3,186 | Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 471 | 4,279 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RumbleOn, Inc., Warrants(o) | RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 91 | RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC, Warrants(o) | Service Compression, LLC, Warrants(o) | Energy: Oil & Gas | N/A | 509 | 540 | Service Compression, LLC, Warrants(o) | Energy: Oil & Gas | N/A | 509 | 624 |
Portfolio Company(a) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||
SIMR Parent, LLC, Class B Common Units(o)(r) | Healthcare & Pharmaceuticals | 12,283,163 Units | 8,002 | — | ||||||||||||||||||||||||||||
SIMR Parent, LLC, Class W Units(o)(r) | Healthcare & Pharmaceuticals | 1,778,219 Units | — | — | ||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Class A Common Stock(o)(r) | Services: Consumer | 9,858 Units | 3,078 | 3,716 | ||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 1,506 | ||||||||||||||||||||||||||||
WorkGenius, LLC, Class A Units(o) | Services: Business | 500 Units | 500 | 500 | ||||||||||||||||||||||||||||
Total Equity | 55,213 | 73,597 | ||||||||||||||||||||||||||||||
Short Term Investments - 1.6%(k) | ||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares, 1.76%(l) | 14,345 | 14,345 | ||||||||||||||||||||||||||||||
Total Short Term Investments | 14,345 | 14,345 | ||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 199.4% | $ | 1,875,973 | 1,805,452 | |||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (99.4)% | (900,214) | |||||||||||||||||||||||||||||||
NET ASSETS - 100% | $ | 905,238 |
Portfolio Company(a) | Interest | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||||||||
STATinMed Parent, LLC, Class A Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 6,182 Units | 6,182 | 5,237 | ||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC, Class B Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 51,221 Units | 3,193 | 705 | ||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Class A Common Stock(o)(r) | Services: Consumer | 9,858 Units | 3,077 | 4,810 | ||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 1,950 | ||||||||||||||||||||||||||||||||||
WorkGenius, LLC, Class A Units(o) | Services: Business | 500 Units | 500 | 506 | ||||||||||||||||||||||||||||||||||
Total Equity | 78,795 | 112,491 | ||||||||||||||||||||||||||||||||||||
Short Term Investments - 1.1%(k) | ||||||||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares | 2.83%(l) | 9,804 | 9,804 | |||||||||||||||||||||||||||||||||||
Total Short Term Investments | 9,804 | 9,804 | ||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 197.5% | $ | 1,851,977 | 1,807,048 | |||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (97.5)% | (892,142) | |||||||||||||||||||||||||||||||||||||
NET ASSETS - 100.0% | $ | 914,906 |
Six Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Controlled, Affiliated Investments | Non-Controlled, Affiliated Investments | Fair Value at December 31, 2021 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at June 30, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | Non-Controlled, Affiliated Investments | Fair Value at December 31, 2021 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at September 30, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARC Financial, LLC | ARC Financial, LLC | ARC Financial, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Interests | Membership Interests | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 25 | Membership Interests | $ | — | $ | — | $ | — | $ | 416 | $ | 416 | $ | — | $ | — | $ | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc. | Berlitz Holdings, Inc. | Berlitz Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | — | 13,956 | (13,956) | — | — | — | 392 | — | First Lien Term Loan | — | 13,956 | (13,956) | — | — | — | 392 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc. | Carestream Health, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | — | 7,596 | — | — | 7,596 | — | 2 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings Inc. | Carestream Health Holdings Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | Common Shares | — | 21,758 | — | — | 21,758 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Charming Charlie, LLC | Charming Charlie, LLC | Charming Charlie, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vendor Payment Financing Facility | Vendor Payment Financing Facility | 350 | — | (97) | (236) | 17 | (97) | — | — | Vendor Payment Financing Facility | 350 | — | (657) | 307 | — | (657) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DESG Holdings, Inc. | DESG Holdings, Inc. | DESG Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | 1,787 | — | (298) | (1,244) | 245 | — | 5 | — | First Lien Term Loan | 1,787 | — | (298) | (1,243) | 246 | — | 5 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan | Second Lien Term Loan | — | — | — | — | — | — | — | — | Second Lien Term Loan | — | — | (10,017) | 10,017 | — | (10,017) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | GSC Technologies Inc. | GSC Technologies Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental Term Loan | Incremental Term Loan | 170 | 4 | (12) | (1) | 161 | — | 13 | — | Incremental Term Loan | 170 | 6 | (18) | — | 158 | — | 17 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan A | First Lien Term Loan A | 2,001 | 13 | — | (28) | 1,986 | — | 85 | — | First Lien Term Loan A | 2,001 | 20 | — | 1 | 2,022 | — | 129 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan B | First Lien Term Loan B | 485 | 31 | — | (106) | 410 | — | 31 | — | First Lien Term Loan B | 485 | 47 | — | (129) | 403 | — | 48 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | Common Shares | — | — | — | — | — | — | — | — | Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web Holdings, LLC | Instant Web Holdings, LLC | Instant Web Holdings, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Common Units | Class A Common Units | — | — | — | — | — | — | — | — | Class A Common Units | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC | Instant Web, LLC | Instant Web, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revolving Loan | Revolving Loan | — | 537 | (216) | (7) | 314 | — | 10 | — | Revolving Loan | — | 753 | (649) | (2) | 102 | — | 17 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Priming Term Loan | Priming Term Loan | — | 458 | — | (1) | 457 | — | 13 | — | Priming Term Loan | — | 458 | — | (1) | 457 | — | 24 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | — | 35,296 | — | (8,001) | 27,295 | — | 1,329 | — | First Lien Term Loan | — | 38,717 | — | (11,075) | 27,642 | — | 2,215 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan | First Lien Delayed Draw Term Loan | — | — | — | (8) | (8) | — | 6 | — | First Lien Delayed Draw Term Loan | — | — | — | (4) | (4) | — | 10 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings GP LLC | Language Education Holdings GP LLC | Language Education Holdings GP LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Units | Common Units | — | — | — | — | — | — | — | — | Common Units | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings LP | Language Education Holdings LP | Language Education Holdings LP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary Common Units | Ordinary Common Units | — | 1,125 | (1,125) | — | — | — | — | — | Ordinary Common Units | — | 1,125 | (1,125) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lift Brands, Inc. | Lift Brands, Inc. | Lift Brands, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan A | Term Loan A | 23,406 | — | (118) | — | 23,288 | — | 1,005 | — | Term Loan A | 23,406 | — | (177) | 117 | 23,346 | — | 1,586 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan B | Term Loan B | 5,156 | 226 | — | (256) | 5,126 | — | 270 | — | Term Loan B | 5,156 | 230 | — | (302) | 5,084 | — | 407 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan C | Term Loan C | 4,700 | 66 | — | (172) | 4,594 | — | 66 | — | Term Loan C | 4,700 | 99 | — | (245) | 4,554 | — | 99 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC | Longview Intermediate Holdings C, LLC | Longview Intermediate Holdings C, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Units | Membership Units | 15,127 | — | — | 3,852 | 18,979 | — | — | — | Membership Units | 15,127 | — | — | 7,076 | 22,203 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Power, LLC | Longview Power, LLC | Longview Power, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | 4,504 | 90 | (22) | (39) | 4,533 | — | 337 | — | First Lien Term Loan | 4,504 | 130 | (1,384) | (952) | 2,298 | — | 1,846 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc. | Mount Logan Capital Inc. | Mount Logan Capital Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Common Stock | 3,404 | — | — | (563) | 2,841 | — | — | 28 | Common Stock | 3,404 | — | — | (1,071) | 2,333 | — | — | 41 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SIMR, LLC | SIMR, LLC | SIMR, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | 16,000 | 1,463 | — | 631 | 18,094 | — | 1,325 | — | First Lien Term Loan | 16,000 | 1,447 | (21,261) | 3,814 | — | (2,854) | 804 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SIMR Parent, LLC | SIMR Parent, LLC | SIMR Parent, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Membership Units | Class B Membership Units | — | — | — | — | — | — | — | — | Class B Membership Units | — | — | (8,002) | 8,002 | — | (8,002) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W Membership Units | Class W Membership Units | — | — | — | — | — | — | — | — | Class W Membership Units | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Stock | 3,131 | — | — | 585 | 3,716 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | 1,269 | — | — | 237 | 1,506 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Totals | $ | 81,490 | $ | 53,265 | $ | (15,844) | $ | (5,357) | $ | 113,554 | $ | (97) | $ | 4,887 | $ | 53 |
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-Controlled, Affiliated Investments | Fair Value at December 31, 2021 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at September 30, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Stock | 3,131 | — | — | 1,679 | 4,810 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Warrants | 1,269 | — | — | 681 | 1,950 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | — | 9,180 | (250) | (44) | 8,886 | — | 409 | — | ||||||||||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Preferred Units | — | 6,182 | — | (945) | 5,237 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Class B Preferred Units | — | 3,193 | — | (2,488) | 705 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Totals | $ | 81,490 | $ | 104,897 | $ | (57,794) | $ | 13,609 | $ | 142,202 | $ | (21,530) | $ | 8,010 | $ | 66 |
Six Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Controlled Investments | Controlled Investments | Fair Value at December 31, 2021 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at June 30, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | Controlled Investments | Fair Value at December 31, 2021 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at September 30, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC | CION/EagleTree Partners, LLC | CION/EagleTree Partners, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Note | Senior Secured Note | $ | 61,629 | $ | 645 | $ | — | $ | — | $ | 62,274 | $ | — | $ | 4,278 | $ | — | Senior Secured Note | $ | 61,629 | $ | 645 | $ | — | $ | — | $ | 62,274 | $ | — | $ | 6,475 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Participating Preferred Shares | Participating Preferred Shares | 29,796 | — | — | (1,925) | 27,871 | — | — | — | Participating Preferred Shares | 29,796 | — | — | 5,373 | 35,169 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | Common Shares | — | — | — | — | — | — | — | — | Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Totals | Totals | $ | 91,425 | $ | 645 | $ | — | $ | (1,925) | $ | 90,145 | $ | — | $ | 4,278 | $ | — | Totals | $ | 91,425 | $ | 645 | $ | — | $ | 5,373 | $ | 97,443 | $ | — | $ | 6,475 | $ | — |
Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Portfolio Company | Portfolio Company | Investment Type | Cash | PIK | All-in-Rate | Portfolio Company | Investment Type | Cash | PIK | All-in-Rate | ||||||||||||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc. | Adapt Laser Acquisition, Inc. | Senior Secured First Lien Debt | 12.25% | 2.00% | 14.25% | Adapt Laser Acquisition, Inc. | Senior Secured First Lien Debt | 13.67% | 2.00% | 15.67% | ||||||||||||||||||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc. | American Consolidated Natural Resources, Inc. | Senior Secured First Lien Debt | 14.64% | 3.00% | 17.64% | American Consolidated Natural Resources, Inc. | Senior Secured First Lien Debt | 16.08% | 3.00% | 19.08% | ||||||||||||||||||||||||||||||||||||||||||
Ancile Solutions, Inc. | Ancile Solutions, Inc. | Senior Secured First Lien Debt | 8.74% | 3.00% | 11.74% | Ancile Solutions, Inc. | Senior Secured First Lien Debt | 10.27% | 3.00% | 13.27% | ||||||||||||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Anthem Sports & Entertainment Inc. | Senior Secured First Lien Debt | 9.00% | 2.25% | 11.25% | Anthem Sports & Entertainment Inc. | Senior Secured First Lien Debt | 10.42% | 2.25% | 12.67% | ||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC | Cadence Aerospace, LLC | Senior Secured First Lien Debt | 7.74% | 2.00% | 9.74% | Cadence Aerospace, LLC | Senior Secured First Lien Debt | 9.31% | 2.00% | 11.31% | ||||||||||||||||||||||||||||||||||||||||||
CHC Solutions Inc. | CHC Solutions Inc. | Senior Secured First Lien Debt | 8.00% | 4.00% | 12.00% | CHC Solutions Inc. | Senior Secured First Lien Debt | 8.00% | 4.00% | 12.00% | ||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC | CION/EagleTree Partners, LLC | Senior Secured Note | — | 14.00% | 14.00% | CION/EagleTree Partners, LLC | Senior Secured Note | — | 14.00% | 14.00% | ||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC | David's Bridal, LLC | Senior Secured First Lien Debt | 6.10% | 5.00% | 11.10% | David's Bridal, LLC | Senior Secured First Lien Debt | 7.81% | 5.00% | 12.81% | ||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC | David's Bridal, LLC | Senior Secured First Lien Debt | 1.00% | 6.67% | 7.67% | David's Bridal, LLC | Senior Secured First Lien Debt | 1.00% | 8.12% | 9.12% | ||||||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Deluxe Entertainment Services, Inc. | Senior Secured First Lien Debt | 7.25% | 1.50% | 8.75% | Deluxe Entertainment Services, Inc. | Senior Secured First Lien Debt | 8.67% | 1.50% | 10.17% | ||||||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Deluxe Entertainment Services, Inc. | Senior Secured Second Lien Debt | 8.25% | 2.50% | 10.75% | Deluxe Entertainment Services, Inc. | Senior Secured Second Lien Debt | 9.67% | 2.50% | 12.17% | ||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | GSC Technologies Inc. | Senior Secured First Lien Debt | — | 6.00% | 6.00% | GSC Technologies Inc. | Senior Secured First Lien Debt | — | 7.56% | 7.56% | ||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | GSC Technologies Inc. | Senior Secured First Lien Debt | 6.00% | 5.00% | 11.00% | GSC Technologies Inc. | Senior Secured First Lien Debt | 7.56% | 5.00% | 12.56% | ||||||||||||||||||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP | Hilliard, Martinez & Gonzales, LLP | Senior Secured First Lien Debt | — | 14.00% | 14.00% | Hilliard, Martinez & Gonzales, LLP | Senior Secured First Lien Debt | — | 14.56% | 14.56% | ||||||||||||||||||||||||||||||||||||||||||
Homer City Generation, L.P. | Homer City Generation, L.P. | Senior Secured First Lien Debt | — | 15.00% | 15.00% | Homer City Generation, L.P. | Senior Secured First Lien Debt | — | 15.00% | 15.00% | ||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 6.00% | 6.00% | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 6.00% | 6.00% | ||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 10.25% | 10.25% | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 11.75% | 11.75% | ||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 7.28% | 7.28% | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 9.50% | 9.50% | ||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC | Instant Web, LLC | Senior Secured First Lien Debt | — | 8.24% | 8.24% | Instant Web, LLC | Senior Secured First Lien Debt | — | 10.12% | 10.12% | ||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc. | Jenny C Acquisition, Inc. | Senior Secured First Lien Debt | — | 11.25% | 11.25% | Jenny C Acquisition, Inc. | Senior Secured First Lien Debt | — | 12.75% | 12.75% | ||||||||||||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc. | LAV Gear Holdings, Inc. | Senior Secured First Lien Debt | 7.70% | 2.00% | 9.70% | LAV Gear Holdings, Inc. | Senior Secured First Lien Debt | 7.95% | 2.00% | 9.95% | ||||||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC | Lucky Bucks Holdings LLC | Unsecured Note | — | 12.50% | 12.50% | Lucky Bucks Holdings LLC | Unsecured Note | — | 12.50% | 12.50% | ||||||||||||||||||||||||||||||||||||||||||
Moss Holding Company | Moss Holding Company | Senior Secured First Lien Debt | 8.82% | 0.50% | 9.32% | Moss Holding Company | Senior Secured First Lien Debt | 10.31% | 0.50% | 10.81% | ||||||||||||||||||||||||||||||||||||||||||
Premiere Global Services, Inc. | Premiere Global Services, Inc. | Senior Secured Second Lien Debt | 0.50% | 10.00% | 10.50% | Premiere Global Services, Inc. | Senior Secured Second Lien Debt | 0.50% | 11.48% | 11.98% | ||||||||||||||||||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P. | Robert C. Hilliard, L.L.P. | Senior Secured First Lien Debt | — | 14.00% | 14.00% | Robert C. Hilliard, L.L.P. | Senior Secured First Lien Debt | — | 14.56% | 14.56% | ||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC | Service Compression, LLC | Senior Secured First Lien Debt | 10.30% | 2.00% | 12.30% | Service Compression, LLC | Senior Secured First Lien Debt | 11.80% | 2.00% | 13.80% | ||||||||||||||||||||||||||||||||||||||||||
SIMR, LLC | Senior Secured First Lien Debt | — | 19.00% | 19.00% | ||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc. | Spinal USA, Inc. / Precision Medical Inc. | Senior Secured First Lien Debt | — | 10.47% | 10.47% | Spinal USA, Inc. / Precision Medical Inc. | Senior Secured First Lien Debt | — | 13.25% | 13.25% | ||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC | STATinMED, LLC | Senior Secured First Lien Debt | — | 12.21% | 12.21% | |||||||||||||||||||||||||||||||||||||||||||||||
Trammell, P.C. | Trammell, P.C. | Senior Secured First Lien Debt | — | 17.50% | 17.50% | Trammell, P.C. | Senior Secured First Lien Debt | — | 18.65% | 18.65% | ||||||||||||||||||||||||||||||||||||||||||
Vesta Holdings, LLC | Vesta Holdings, LLC | Senior Secured First Lien Debt | — | 13.14% | 13.14% | |||||||||||||||||||||||||||||||||||||||||||||||
WPLM Acquisition Corp. | WPLM Acquisition Corp. | Unsecured Note | — | 15.00% | 15.00% | WPLM Acquisition Corp. | Unsecured Note | — | 15.00% | 15.00% |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Senior Secured First Lien Debt - 164.1% | ||||||||||||||||||||||||||||||||
ABB/CON-CISE Optical Group LLC, L+500, 1.00% LIBOR Floor, 6/15/2023(i)(n) | 6 Month LIBOR | Consumer Goods: Non-Durable | $ | 8,473 | $ | 8,263 | $ | 8,219 | ||||||||||||||||||||||||
Adapt Laser Acquisition, Inc., L+1200, 1.00% LIBOR Floor, 12/31/2023(t) | 3 Month LIBOR | Capital Equipment | 11,181 | 11,181 | 9,392 | |||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc., L+1000, 1.00% LIBOR Floor, 12/31/2023 | 3 Month LIBOR | Capital Equipment | 2,000 | 2,000 | 1,680 | |||||||||||||||||||||||||||
Aegis Toxicology Sciences Corp., L+550, 1.00% LIBOR Floor, 5/9/2025(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 7,186 | 7,105 | 7,186 | |||||||||||||||||||||||||||
Alchemy US Holdco 1, LLC, L+550, 10/10/2025(m) | 1 Month LIBOR | Construction & Building | 2,287 | 2,270 | 2,289 | |||||||||||||||||||||||||||
Allen Media, LLC, L+550, 0.00% LIBOR Floor, 2/10/2027(n) | 3 Month LIBOR | Media: Diversified & Production | 8,955 | 8,868 | 8,955 | |||||||||||||||||||||||||||
ALM Media, LLC, L+700, 1.00% LIBOR Floor, 11/25/2024(m)(n) | 3 Month LIBOR | Media: Advertising, Printing & Publishing | 18,000 | 17,774 | 17,460 | |||||||||||||||||||||||||||
American Clinical Solutions LLC, 7.00%, 12/31/2022(m) | None | Healthcare & Pharmaceuticals | 3,500 | 3,462 | 3,447 | |||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc., L+1600, 1.00% LIBOR Floor, 9/16/2025(m)(t) | 3 Month LIBOR | Metals & Mining | 379 | 284 | 389 | |||||||||||||||||||||||||||
American Health Staffing Group, Inc., L+600, 1.00% LIBOR Floor, 11/19/2026(m) | 3 Month LIBOR | Services: Business | 16,667 | 16,502 | 16,500 | |||||||||||||||||||||||||||
American Health Staffing Group, Inc., Prime+500, 11/19/2026 | Prime | Services: Business | 1,000 | 1,000 | 990 | |||||||||||||||||||||||||||
American Health Staffing Group, Inc., 0.50% Unfunded, 11/19/2026 | None | Services: Business | 2,333 | (33) | (23) | |||||||||||||||||||||||||||
American Media, LLC, L+675, 1.50% LIBOR Floor, 12/31/2023(m) | 3 Month LIBOR | Media: Advertising, Printing & Publishing | 9,847 | 9,735 | 9,847 | |||||||||||||||||||||||||||
American Media, LLC, 0.50% Unfunded, 12/31/2023(m) | None | Media: Advertising, Printing & Publishing | 1,702 | (17) | — | |||||||||||||||||||||||||||
American Teleconferencing Services, Ltd., Prime+550, 6/8/2023(m)(q) | Prime | Telecommunications | 16,154 | 15,621 | 3,211 | |||||||||||||||||||||||||||
American Teleconferencing Services, Ltd., Prime+550, 3/31/2022(m) | Prime | Telecommunications | 3,116 | 3,033 | 3,116 | |||||||||||||||||||||||||||
American Teleconferencing Services, Ltd., 0.00% Unfunded, 3/31/2022(m)(o) | None | Telecommunications | 235 | — | — | |||||||||||||||||||||||||||
Analogic Corp., L+525, 1.00% LIBOR Floor, 6/21/2024(m)(n) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 4,900 | 4,853 | 4,820 | |||||||||||||||||||||||||||
Ancile Solutions, Inc., L+1000, 1.00% LIBOR Floor, 6/22/2026(t) | 1 Month LIBOR | High Tech Industries | 12,537 | 12,194 | 12,161 | |||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc., L+900, 1.00% LIBOR Floor, 11/15/2026(m)(t) | 3 Month LIBOR | Media: Diversified & Production | 37,966 | 37,758 | 36,543 | |||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc., L+950, 1.00% LIBOR Floor, 11/15/2026 | 3 Month LIBOR | Media: Diversified & Production | 1,000 | 1,000 | 962 | |||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc., 0.50% Unfunded, 11/15/2026 | None | Media: Diversified & Production | 1,167 | — | (44) | |||||||||||||||||||||||||||
Appalachian Resource Company, LLC, L+500, 1.00% LIBOR Floor, 9/10/2023 | 1 Month LIBOR | Metals & Mining | 11,137 | 9,959 | 10,538 | |||||||||||||||||||||||||||
Appalachian Resource Company, LLC, 0.00% Unfunded, 9/10/2023(o) | None | Metals & Mining | 500 | — | — | |||||||||||||||||||||||||||
Associated Asphalt Partners, LLC, L+525, 1.00% LIBOR Floor, 4/5/2024(m)(n) | 1 Month LIBOR | Construction & Building | 14,393 | 14,095 | 12,666 | |||||||||||||||||||||||||||
Avison Young (USA) Inc., L+500, 0.00% LIBOR Floor, 1/31/2026(h)(m) | 3 Month LIBOR | Banking, Finance, Insurance & Real Estate | 2,692 | 2,658 | 2,679 | |||||||||||||||||||||||||||
Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2027(m) | 1 Month LIBOR | Consumer Goods: Durable | 13,156 | 12,831 | 12,827 | |||||||||||||||||||||||||||
Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2026 | 1 Month LIBOR | Consumer Goods: Durable | 400 | 387 | 390 | |||||||||||||||||||||||||||
Bradshaw International Parent Corp., 0.50% Unfunded, 10/21/2026 | None | Consumer Goods: Durable | 1,445 | (32) | (36) | |||||||||||||||||||||||||||
Cadence Aerospace, LLC, L+850, 1.00% LIBOR Floor, 11/14/2023(m)(n)(t) | 3 Month LIBOR | Aerospace & Defense | 38,960 | 38,623 | 38,279 | |||||||||||||||||||||||||||
Cardenas Markets LLC, L+625, 1.00% LIBOR Floor, 6/3/2027 | 6 Month LIBOR | Retail | 10,945 | 10,840 | 10,972 | |||||||||||||||||||||||||||
CB URS Holdings Corp., L+575, 1.00% LIBOR Floor, 9/1/2024(m) | 6 Month LIBOR | Transportation: Cargo | 15,354 | 15,310 | 14,106 | |||||||||||||||||||||||||||
Celerity Acquisition Holdings, LLC, L+850, 1.00% LIBOR Floor, 5/28/2026 | 1 Month LIBOR | Services: Business | 14,925 | 14,925 | 14,944 | |||||||||||||||||||||||||||
Charming Charlie LLC, 20.00%, 4/24/2023(q)(r) | None | Retail | 662 | 657 | 350 | |||||||||||||||||||||||||||
CHC Solutions Inc., 12.00%, 7/20/2023(n)(t) | None | Healthcare & Pharmaceuticals | 7,966 | 7,966 | 7,916 | |||||||||||||||||||||||||||
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt - 164.1% | ||||||||||||||||||||||||||||||||||||||
ABB/CON-CISE Optical Group LLC(i)(n)(x) | L+500, 1.00% LIBOR Floor | 6/15/2023 | Consumer Goods: Non-Durable | $ | 8,473 | $ | 8,263 | $ | 8,219 | |||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(w) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | 11,181 | 11,181 | 9,392 | ||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(w) | L+1000, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | 2,000 | 2,000 | 1,680 | ||||||||||||||||||||||||||||||||
Aegis Toxicology Sciences Corp.(m)(w) | L+550, 1.00% LIBOR Floor | 5/9/2025 | Healthcare & Pharmaceuticals | 7,186 | 7,105 | 7,186 | ||||||||||||||||||||||||||||||||
Alchemy US Holdco 1, LLC(m)(v) | L+550 | 10/10/2025 | Construction & Building | 2,287 | 2,270 | 2,289 | ||||||||||||||||||||||||||||||||
Allen Media, LLC(n)(w) | L+550, 0.00% LIBOR Floor | 2/10/2027 | Media: Diversified & Production | 8,955 | 8,868 | 8,955 | ||||||||||||||||||||||||||||||||
ALM Media, LLC(m)(n)(w) | L+700, 1.00% LIBOR Floor | 11/25/2024 | Media: Advertising, Printing & Publishing | 18,000 | 17,774 | 17,460 | ||||||||||||||||||||||||||||||||
American Clinical Solutions LLC(m) | 7.00% | 12/31/2022 | Healthcare & Pharmaceuticals | 3,500 | 3,462 | 3,447 | ||||||||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc.(m)(t)(w) | L+1600, 1.00% LIBOR Floor | 9/16/2025 | Metals & Mining | 379 | 284 | 389 | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc.(m)(w) | L+600, 1.00% LIBOR Floor | 11/19/2026 | Services: Business | 16,667 | 16,502 | 16,500 | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc. | Prime+500 | 11/19/2026 | Services: Business | 1,000 | 1,000 | 990 | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc. | 0.50% Unfunded | 11/19/2026 | Services: Business | 2,333 | (33) | (23) | ||||||||||||||||||||||||||||||||
American Media, LLC(m)(w) | L+675, 1.50% LIBOR Floor | 12/31/2023 | Media: Advertising, Printing & Publishing | 9,847 | 9,735 | 9,847 | ||||||||||||||||||||||||||||||||
American Media, LLC(m) | 0.50% Unfunded | 12/31/2023 | Media: Advertising, Printing & Publishing | 1,702 | (17) | — | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(m)(q) | Prime+550 | 6/8/2023 | Telecommunications | 16,154 | 15,621 | 3,211 | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(m) | Prime+550 | 3/31/2022 | Telecommunications | 3,116 | 3,033 | 3,116 | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(m)(o) | 0.00% Unfunded | 3/31/2022 | Telecommunications | 235 | — | — | ||||||||||||||||||||||||||||||||
Analogic Corp.(m)(n)(v) | L+525, 1.00% LIBOR Floor | 6/21/2024 | Healthcare & Pharmaceuticals | 4,900 | 4,853 | 4,820 | ||||||||||||||||||||||||||||||||
Ancile Solutions, Inc.(t)(v) | L+1000, 1.00%LIBOR Floor | 6/22/2026 | High Tech Industries | 12,537 | 12,194 | 12,161 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(m)(t)(w) | L+900, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 37,966 | 37,758 | 36,543 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(w) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 1,000 | 1,000 | 962 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | 0.50% Unfunded | 11/15/2026 | Media: Diversified & Production | 1,167 | — | (44) | ||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(v) | L+500, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 11,137 | 9,959 | 10,538 | ||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(o) | 0.00% Unfunded | 9/10/2023 | Metals & Mining | 500 | — | — | ||||||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC(m)(n)(v) | L+525, 1.00% LIBOR Floor | 4/5/2024 | Construction & Building | 14,393 | 14,095 | 12,666 | ||||||||||||||||||||||||||||||||
Avison Young (USA) Inc.(h)(m)(w) | L+500, 0.00% LIBOR Floor | 1/31/2026 | Banking, Finance, Insurance & Real Estate | 2,692 | 2,658 | 2,679 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp.(m)(v) | L+575, 1.00% LIBOR Floor | 10/21/2027 | Consumer Goods: Durable | 13,156 | 12,831 | 12,827 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp.(v) | L+575, 1.00% LIBOR Floor | 10/21/2026 | Consumer Goods: Durable | 400 | 387 | 390 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp. | 0.50% Unfunded | 10/21/2026 | Consumer Goods: Durable | 1,445 | (32) | (36) | ||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC(m)(n)(t)(w) | L+850, 1.00% LIBOR Floor | 11/14/2023 | Aerospace & Defense | 38,960 | 38,623 | 38,279 | ||||||||||||||||||||||||||||||||
Cardenas Markets LLC(x) | L+625, 1.00% LIBOR Floor | 6/3/2027 | Retail | 10,945 | 10,840 | 10,972 | ||||||||||||||||||||||||||||||||
CB URS Holdings Corp.(m)(x) | L+575, 1.00% LIBOR Floor | 9/1/2024 | Transportation: Cargo | 15,354 | 15,310 | 14,106 | ||||||||||||||||||||||||||||||||
Celerity Acquisition Holdings, LLC(v) | L+850, 1.00% LIBOR Floor | 5/28/2026 | Services: Business | 14,925 | 14,925 | 14,944 | ||||||||||||||||||||||||||||||||
Charming Charlie LLC(q)(r) | 20.00% | 4/24/2023 | Retail | 662 | 657 | 350 | ||||||||||||||||||||||||||||||||
CHC Solutions Inc.(n)(t) | 12.00% | 7/20/2023 | Healthcare & Pharmaceuticals | 7,966 | 7,966 | 7,916 | ||||||||||||||||||||||||||||||||
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, 14.00%, 12/21/2026(h)(s)(t) | None | Diversified Financials | 61,629 | 61,629 | 61,629 | |||||||||||||||||||||||||||
CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 1/16/2024(m)(n)(t) | 1 Month LIBOR | Hotel, Gaming & Leisure | 26,754 | 26,734 | 25,718 | |||||||||||||||||||||||||||
CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 1/16/2024(m)(t) | 1 Month LIBOR | Hotel, Gaming & Leisure | 2,723 | 2,723 | 2,618 | |||||||||||||||||||||||||||
CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 7/16/2023(m)(t) | 1 Month LIBOR | Hotel, Gaming & Leisure | 1,953 | 1,836 | 2,300 | |||||||||||||||||||||||||||
Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(q) | 3 Month LIBOR | Beverage, Food & Tobacco | 1,020 | 984 | 168 | |||||||||||||||||||||||||||
Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(m)(q) | 3 Month LIBOR | Beverage, Food & Tobacco | 414 | 414 | 68 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, L+600, 1.00% LIBOR Floor, 2/6/2026(m)(n) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 34,388 | 34,157 | 34,302 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, L+800, 1.00% LIBOR Floor, 8/6/2026(n) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 6,188 | 6,084 | 6,188 | |||||||||||||||||||||||||||
Coyote Buyer, LLC, 0.50% Unfunded, 2/6/2025 | None | Chemicals, Plastics & Rubber | 2,500 | — | (6) | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 13,059 | 13,059 | 13,059 | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 1,009 | 1,009 | 1,009 | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, 1.00% Unfunded, 11/1/2026 | None | Healthcare & Pharmaceuticals | 4,899 | — | — | |||||||||||||||||||||||||||
Critical Nurse Staffing, LLC, 0.50% Unfunded, 11/1/2026 | None | Healthcare & Pharmaceuticals | 1,000 | — | — | |||||||||||||||||||||||||||
David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 6/23/2023(t) | 3 Month LIBOR | Retail | 5,617 | 5,008 | 5,617 | |||||||||||||||||||||||||||
David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 5/23/2024(t) | 3 Month LIBOR | Retail | 5,093 | 5,093 | 5,093 | |||||||||||||||||||||||||||
David's Bridal, LLC, L+600, 1.00% LIBOR Floor, 6/30/2023(t) | 3 Month LIBOR | Retail | 791 | 719 | 791 | |||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc., L+650, 1.00% LIBOR Floor, 3/25/2024(m)(q)(r)(t) | 3 Month LIBOR | Media: Diversified & Production | 2,930 | 2,930 | 1,787 | |||||||||||||||||||||||||||
DMT Solutions Global Corp., L+750, 1.00% LIBOR Floor, 7/2/2024(m) | (u) | Services: Business | 9,696 | 9,563 | 9,503 | |||||||||||||||||||||||||||
Entertainment Studios P&A LLC, 5.71%, 5/18/2037(j)(m) | None | Media: Diversified & Production | 11,649 | 11,554 | 10,047 | |||||||||||||||||||||||||||
Entertainment Studios P&A LLC, 5.00%, 5/18/2037(j) | None | Media: Diversified & Production | — | — | 2,182 | |||||||||||||||||||||||||||
EnTrans International, LLC, L+600, 0.00% LIBOR Floor, 11/1/2024(m) | 1 Month LIBOR | Capital Equipment | 24,750 | 24,617 | 23,430 | |||||||||||||||||||||||||||
Extreme Reach, Inc., L+700, 1.25% LIBOR Floor, 3/29/2024(m)(n) | 1 Month LIBOR | Media: Diversified & Production | 18,774 | 18,662 | 18,844 | |||||||||||||||||||||||||||
Extreme Reach, Inc., 0.50% Unfunded, 3/29/2024(m)(n) | None | Media: Diversified & Production | 1,744 | — | 7 | |||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC, L+638, 1.00% LIBOR Floor, 2/12/2027(m)(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 30,799 | 30,535 | 31,145 | |||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC, 0.50% Unfunded, 11/2/2023 | None | Healthcare & Pharmaceuticals | 2,094 | — | 24 | |||||||||||||||||||||||||||
FuseFX, LLC, L+575, 1.00% LIBOR Floor, 10/1/2024(m)(n) | 1 Month LIBOR | Media: Diversified & Production | 20,000 | 19,800 | 19,800 | |||||||||||||||||||||||||||
Future Pak, LLC, L+800, 2.00% LIBOR Floor, 7/2/2024(m) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 33,764 | 33,565 | 33,426 | |||||||||||||||||||||||||||
Genesis Healthcare, Inc., 0.50% Unfunded, 3/6/2023(h) | None | Healthcare & Pharmaceuticals | 35,000 | — | — | |||||||||||||||||||||||||||
GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 2,404 | 2,294 | 2,001 | |||||||||||||||||||||||||||
GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r)(t) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 858 | 814 | 485 | |||||||||||||||||||||||||||
GSC Technologies Inc., L+1000, 1.00% LIBOR Floor, 9/30/2025(r)(t) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 170 | 170 | 170 | |||||||||||||||||||||||||||
H.W. Lochner, Inc., L+625, 1.00% LIBOR Floor, 7/2/2027 | 3 Month LIBOR | Construction & Building | 11,970 | 11,856 | 11,910 | |||||||||||||||||||||||||||
H.W. Lochner, Inc., L+625, 1.00% LIBOR Floor, 7/2/2027 | 3 Month LIBOR | Construction & Building | 725 | 715 | 721 | |||||||||||||||||||||||||||
H.W. Lochner, Inc., 0.50% Unfunded, 7/2/2027 | None | Construction & Building | 275 | — | (1) | |||||||||||||||||||||||||||
Harland Clarke Holdings Corp., L+775, 1.00% LIBOR Floor, 6/16/2026(m) | 1 Month LIBOR | Services: Business | 9,657 | 9,641 | 8,848 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC(h)(s)(t) | 14.00% | 12/21/2026 | Diversified Financials | 61,629 | 61,629 | 61,629 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(n)(t)(v) | L+800, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 26,754 | 26,734 | 25,718 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(t)(v) | L+800, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 2,723 | 2,723 | 2,618 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(t)(v) | L+800, 1.00% LIBOR Floor | 7/16/2023 | Hotel, Gaming & Leisure | 1,953 | 1,836 | 2,300 | ||||||||||||||||||||||||||||||||
Country Fresh Holdings, LLC(q)(w) | L+500, 1.00% LIBOR Floor | 4/29/2023 | Beverage, Food & Tobacco | 1,020 | 984 | 168 | ||||||||||||||||||||||||||||||||
Country Fresh Holdings, LLC(m)(q)(w) | L+500, 1.00% LIBOR Floor | 4/29/2023 | Beverage, Food & Tobacco | 414 | 414 | 68 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(m)(n)(w) | L+600, 1.00% LIBOR Floor | 2/6/2026 | Chemicals, Plastics & Rubber | 34,388 | 34,157 | 34,302 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(n)(w) | L+800, 1.00% LIBOR Floor | 8/6/2026 | Chemicals, Plastics & Rubber | 6,188 | 6,084 | 6,188 | ||||||||||||||||||||||||||||||||
Coyote Buyer , LLC | 0.50% Unfunded | 2/6/2025 | Chemicals, Plastics & Rubber | 2,500 | — | (6) | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(m)(w) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 13,059 | 13,059 | 13,059 | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(w) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 1,009 | 1,009 | 1,009 | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC | 1.00% Unfunded | 11/1/2026 | Healthcare & Pharmaceuticals | 4,899 | — | — | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC | 0.50% Unfunded | 11/1/2026 | Healthcare & Pharmaceuticals | 1,000 | — | — | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(w) | L+1000, 1.00% LIBOR Floor | 6/23/2023 | Retail | 5,617 | 5,008 | 5,617 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(w) | L+1000, 1.00% LIBOR Floor | 5/23/2024 | Retail | 5,093 | 5,093 | 5,093 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(w) | L+600, 1.00% LIBOR Floor | 6/30/2023 | Retail | 791 | 719 | 791 | ||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(w) | L+650, 1.00% LIBOR Floor | 3/25/2024 | Media: Diversified & Production | 2,930 | 2,930 | 1,787 | ||||||||||||||||||||||||||||||||
DMT Solutions Global Corp.(m)(u) | L+750, 1.00% LIBOR Floor | 7/2/2024 | Services: Business | 9,696 | 9,563 | 9,503 | ||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(j)(m) | 5.71% | 5/18/2037 | Media: Diversified & Production | 11,649 | 11,554 | 10,047 | ||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(j) | 5.00% | 5/18/2037 | Media: Diversified & Production | — | — | 2,182 | ||||||||||||||||||||||||||||||||
EnTrans International, LLC(m)(v) | L+600, 0.00% LIBOR Floor | 11/1/2024 | Capital Equipment | 24,750 | 24,617 | 23,430 | ||||||||||||||||||||||||||||||||
Extreme Reach, Inc.(m)(n)(v) | L+700, 1.25% LIBOR Floor | 3/29/2024 | Media: Diversified & Production | 18,774 | 18,662 | 18,844 | ||||||||||||||||||||||||||||||||
Extreme Reach, Inc.(m)(n) | 0.50% Unfunded | 3/29/2024 | Media: Diversified & Production | 1,744 | — | 7 | ||||||||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC(m)(n)(w) | L+638, 1.00% LIBOR Floor | 2/12/2027 | Healthcare & Pharmaceuticals | 30,799 | 30,535 | 31,145 | ||||||||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC | 0.50% Unfunded | 11/2/2023 | Healthcare & Pharmaceuticals | 2,094 | — | 24 | ||||||||||||||||||||||||||||||||
FuseFX, LLC(m)(n)(v) | L+575, 1.00% LIBOR Floor | 10/1/2024 | Media: Diversified & Production | 20,000 | 19,800 | 19,800 | ||||||||||||||||||||||||||||||||
Future Pak, LLC(m)(v) | L+800, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 33,764 | 33,565 | 33,426 | ||||||||||||||||||||||||||||||||
Genesis Healthcare, Inc.(h) | 0.50% Unfunded | 3/6/2023 | Healthcare & Pharmaceuticals | 35,000 | — | — | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 2,404 | 2,294 | 2,001 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 858 | 814 | 485 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | L+1000, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 170 | 170 | 170 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(w) | L+625, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 11,970 | 11,856 | 11,910 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(w) | L+625, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 725 | 715 | 721 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc. | 0.50% Unfunded | 7/2/2027 | Construction & Building | 275 | — | (1) | ||||||||||||||||||||||||||||||||
Harland Clarke Holdings Corp.(m)(v) | L+775, 1.00% LIBOR Floor | 6/16/2026 | Services: Business | 9,657 | 9,641 | 8,848 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Heritage Power, LLC, L+600, 1.00% LIBOR Floor, 7/30/2026 | 6 Month LIBOR | Energy: Oil & Gas | 4,854 | 4,692 | 3,956 | |||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP, L+1800, 2.00% LIBOR Floor, 12/17/2022(m)(t) | 1 Month LIBOR | Services: Consumer | 22,885 | 22,752 | 21,947 | |||||||||||||||||||||||||||
Homer City Generation, L.P., 15.00%, 4/5/2023(m)(t) | None | Energy: Oil & Gas | 10,173 | 10,521 | 7,935 | |||||||||||||||||||||||||||
Hoover Group, Inc., L+850, 1.25% LIBOR Floor, 10/1/2024(n) | 3 Month LIBOR | Services: Business | 5,156 | 5,139 | 5,079 | |||||||||||||||||||||||||||
HUMC Holdco, LLC, 9.00%, 1/14/2022(m) | None | Healthcare & Pharmaceuticals | 9,346 | 9,346 | 9,323 | |||||||||||||||||||||||||||
HW Acquisition, LLC, L+600, 1.00% LIBOR Floor, 9/28/2026m) | 3 Month LIBOR | Capital Equipment | 19,067 | 18,885 | 18,828 | |||||||||||||||||||||||||||
HW Acquisition, LLC, 0.50% Unfunded, 9/28/2026 | None | Capital Equipment | 2,933 | (28) | (37) | |||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, 6.00%, 11/20/2023(m)(t) | None | Retail | 10,295 | 10,235 | 9,085 | |||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Prime+500, 12/22/2022(m) | Prime | Retail | 2,085 | 2,085 | 2,085 | |||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, L+600, 0.00% LIBOR Floor, 12/22/2022(m) | 3 Month LIBOR | Retail | 264 | 264 | 264 | |||||||||||||||||||||||||||
InfoGroup Inc., L+500, 1.00% LIBOR Floor, 4/3/2023(m)(n) | 3 Month LIBOR | Media: Advertising, Printing & Publishing | 15,432 | 15,428 | 14,815 | |||||||||||||||||||||||||||
Inotiv, Inc., L+625, 1.00% LIBOR Floor, 11/5/2026(m) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 9,900 | 9,709 | 9,764 | |||||||||||||||||||||||||||
Inotiv, Inc., 1.00% Unfunded, 5/5/2023 | None | Healthcare & Pharmaceuticals | 2,100 | (41) | (29) | |||||||||||||||||||||||||||
Instant Web, LLC, L+650, 1.00% LIBOR Floor, 12/15/2022(m)(n) | 1 Month LIBOR | Media: Advertising, Printing & Publishing | 36,605 | 36,580 | 34,042 | |||||||||||||||||||||||||||
Instant Web, LLC, 0.50% Unfunded, 12/15/2022 | None | Media: Advertising, Printing & Publishing | 2,704 | — | — | |||||||||||||||||||||||||||
Invincible Boat Company LLC, L+650, 1.50% LIBOR Floor, 8/28/2025 | 3 Month LIBOR | Consumer Goods: Durable | 14,034 | 13,937 | 14,034 | |||||||||||||||||||||||||||
Invincible Boat Company LLC, 0.50% Unfunded, 8/28/2025 | None | Consumer Goods: Durable | 798 | — | (8) | |||||||||||||||||||||||||||
INW Manufacturing, LLC, L+575, 0.75% LIBOR Floor, 5/7/2027(n) | 3 Month LIBOR | Services: Business | 19,625 | 19,087 | 19,232 | |||||||||||||||||||||||||||
Isagenix International, LLC, L+575, 1.00% LIBOR Floor, 6/14/2025(m) | 3 Month LIBOR | Beverage, Food & Tobacco | 16,663 | 15,160 | 15,122 | |||||||||||||||||||||||||||
Island Medical Management Holdings, LLC, L+650, 1.00% LIBOR Floor, 9/1/2023(m)(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 11,049 | 11,028 | 11,049 | |||||||||||||||||||||||||||
Jenny C Acquisition, Inc., L+900, 1.75% LIBOR Floor, 10/1/2024(m)(t) | 3 Month LIBOR | Services: Consumer | 11,123 | 11,069 | 10,157 | |||||||||||||||||||||||||||
JP Intermediate B, LLC, L+550, 1.00% LIBOR Floor, 11/20/2025(m) | 3 Month LIBOR | Beverage, Food & Tobacco | 14,355 | 14,160 | 13,458 | |||||||||||||||||||||||||||
K&N Parent, Inc., L+475, 1.00% LIBOR Floor, 10/20/2023 | 3 Month LIBOR | Consumer Goods: Durable | 11,154 | 10,779 | 10,373 | |||||||||||||||||||||||||||
KNB Holdings Corp., L+550, 1.00% LIBOR Floor, 4/26/2024(m) | 6 Month LIBOR | Consumer Goods: Durable | 7,854 | 7,774 | 5,517 | |||||||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC, L+575, 1.00% LIBOR Floor, 10/12/2027(m) | 3 Month LIBOR | Services: Consumer | 10,000 | 9,805 | 9,963 | |||||||||||||||||||||||||||
LAV Gear Holdings, Inc., L+750, 1.00% LIBOR Floor, 10/31/2024(m)(n)(t) | 3 Month LIBOR | Services: Business | 26,408 | 26,103 | 24,988 | |||||||||||||||||||||||||||
LAV Gear Holdings, Inc., L+750, 1.00% LIBOR Floor, 10/31/2024(m)(n)(t) | 3 Month LIBOR | Services: Business | 4,555 | 4,518 | 4,310 | |||||||||||||||||||||||||||
LGC US Finco, LLC, L+650, 1.00% LIBOR Floor, 12/20/2025(m) | 1 Month LIBOR | Capital Equipment | 11,760 | 11,431 | 11,422 | |||||||||||||||||||||||||||
LH Intermediate Corp., L+750, 1.00% LIBOR Floor, 6/2/2026(m) | 3 Month LIBOR | Consumer Goods: Durable | 14,438 | 14,230 | 14,257 | |||||||||||||||||||||||||||
Lift Brands, Inc., L+750, 1.00% LIBOR Floor, 6/29/2025(m)(n)(r) | 1 Month LIBOR | Services: Consumer | 23,523 | 23,523 | 23,406 | |||||||||||||||||||||||||||
Lift Brands, Inc., 9.50%, 6/29/2025(m)(n)(r)(t) | None | Services: Consumer | 5,343 | 5,255 | 5,156 | |||||||||||||||||||||||||||
Lift Brands, Inc., 6/29/2025(m)(n)(p)(r) | None | Services: Consumer | 5,296 | 4,814 | 4,700 | |||||||||||||||||||||||||||
Longview Power, LLC, L+1000, 1.50% LIBOR Floor, 7/30/2025(r) | 3 Month LIBOR | Energy: Oil & Gas | 4,189 | 2,624 | 4,504 | |||||||||||||||||||||||||||
MacNeill Pride Group Corp., L+625, 1.00% LIBOR Floor, 4/20/2026(m) | 3 Month LIBOR | Services: Consumer | 14,925 | 14,790 | 14,776 | |||||||||||||||||||||||||||
MacNeill Pride Group Corp., L+625, 1.00% LIBOR Floor, 4/20/2026 | 3 Month LIBOR | Services: Consumer | 4,992 | 4,947 | 4,942 | |||||||||||||||||||||||||||
Manus Bio Inc., 11.00%, 8/20/2026 | None | Healthcare & Pharmaceuticals | 10,000 | 10,000 | 10,000 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Heritage Power, LLC(x) | L+600, 1.00% LIBOR Floor | 7/30/2026 | Energy: Oil & Gas | 4,854 | 4,692 | 3,956 | ||||||||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP(m)(t)(v) | L+1800, 2.00% LIBOR Floor | 12/17/2022 | Services: Consumer | 22,885 | 22,752 | 21,947 | ||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(m)(t) | 15.00% | 4/5/2023 | Energy: Oil & Gas | 10,173 | 10,521 | 7,935 | ||||||||||||||||||||||||||||||||
Hoover Group, Inc.(n)(w) | L+850, 1.25% LIBOR Floor | 10/1/2024 | Services: Business | 5,156 | 5,139 | 5,079 | ||||||||||||||||||||||||||||||||
HUMC Holdco, LLC(m) | 9.00% | 1/14/2022 | Healthcare & Pharmaceuticals | 9,346 | 9,346 | 9,323 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC(m)(w) | L+600, 1.00% LIBOR Floor | 9/28/2026 | Capital Equipment | 19,067 | 18,885 | 18,828 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC | 0.50% Unfunded | 9/28/2026 | Capital Equipment | 2,933 | (28) | (37) | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(m)(t) | 6.00% | 11/20/2023 | Retail | 10,295 | 10,235 | 9,085 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(m) | Prime+500 | 12/22/2022 | Retail | 2,085 | 2,085 | 2,085 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(m)(w) | L+600, 0.00% LIBOR Floor | 12/22/2022 | Retail | 264 | 264 | 264 | ||||||||||||||||||||||||||||||||
InfoGroup Inc.(m)(n)(w) | L+500, 1.00% LIBOR Floor | 4/3/2023 | Media: Advertising, Printing & Publishing | 15,432 | 15,428 | 14,815 | ||||||||||||||||||||||||||||||||
Inotiv, Inc.(m)(v) | L+625, 1.00% LIBOR Floor | 11/5/2026 | Healthcare & Pharmaceuticals | 9,900 | 9,709 | 9,764 | ||||||||||||||||||||||||||||||||
Inotiv, Inc. | 1.00% Unfunded | 5/5/2023 | Healthcare & Pharmaceuticals | 2,100 | (41) | (29) | ||||||||||||||||||||||||||||||||
Instant Web, LLC(m)(n)(v) | L+650, 1.00% LIBOR Floor | 12/15/2022 | Media: Advertising, Printing & Publishing | 36,605 | 36,580 | 34,042 | ||||||||||||||||||||||||||||||||
Instant Web, LLC | 0.50% Unfunded | 12/15/2022 | Media: Advertising, Printing & Publishing | 2,704 | — | — | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(w) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 14,034 | 13,937 | 14,034 | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC | 0.50% Unfunded | 8/28/2025 | Consumer Goods: Durable | 798 | — | (8) | ||||||||||||||||||||||||||||||||
INW Manufacturing, LLC(n)(w) | L+575, 0.75% LIBOR Floor | 5/7/2027 | Services: Business | 19,625 | 19,087 | 19,232 | ||||||||||||||||||||||||||||||||
Isagenix International, LLC(m)(w) | L+575, 1.00% LIBOR Floor | 6/14/2025 | Beverage, Food & Tobacco | 16,663 | 15,160 | 15,122 | ||||||||||||||||||||||||||||||||
Island Medical Management Holdings, LLC(m)(n)(w) | L+650, 1.00% LIBOR Floor | 9/1/2023 | Healthcare & Pharmaceuticals | 11,049 | 11,028 | 11,049 | ||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc.(m)(t)(w) | L+900, 1.75% LIBOR Floor | 10/1/2024 | Services: Consumer | 11,123 | 11,069 | 10,157 | ||||||||||||||||||||||||||||||||
JP Intermediate B, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 11/20/2025 | Beverage, Food & Tobacco | 14,355 | 14,160 | 13,458 | ||||||||||||||||||||||||||||||||
K&N Parent, Inc.(w) | L+475, 1.00% LIBOR Floor | 10/20/2023 | Consumer Goods: Durable | 11,154 | 10,779 | 10,373 | ||||||||||||||||||||||||||||||||
KNB Holdings Corp.(m)(x) | L+550, 1.00% LIBOR Floor | 4/26/2024 | Consumer Goods: Durable | 7,854 | 7,774 | 5,517 | ||||||||||||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC(m)(w) | L+575, 1.00% LIBOR Floor | 10/12/2027 | Services: Consumer | 10,000 | 9,805 | 9,963 | ||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(t)(w) | L+750, 1.00% LIBOR Floor | 10/31/2024 | Services: Business | 26,408 | 26,103 | 24,988 | ||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(t)(w) | L+750, 1.00% LIBOR Floor | 10/31/2024 | Services: Business | 4,555 | 4,518 | 4,310 | ||||||||||||||||||||||||||||||||
LGC US Finco, LLC(m)(v) | L+650, 1.00% LIBOR Floor | 12/20/2025 | Capital Equipment | 11,760 | 11,431 | 11,422 | ||||||||||||||||||||||||||||||||
LH Intermediate Corp.(m)(w) | L+750, 1.00% LIBOR Floor | 6/2/2026 | Consumer Goods: Durable | 14,438 | 14,230 | 14,257 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r) (v) | L+750, 1.00% LIBOR Floor | 6/29/2025 | Services: Consumer | 23,523 | 23,523 | 23,406 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r)(t) | 9.50% | 6/29/2025 | Services: Consumer | 5,343 | 5,255 | 5,156 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r) | (p) | 6/29/2025 | Services: Consumer | 5,296 | 4,814 | 4,700 | ||||||||||||||||||||||||||||||||
Longview Power, LLC(r)(w) | L+1000, 1.50% LIBOR Floor | 7/30/2025 | Energy: Oil & Gas | 4,189 | 2,624 | 4,504 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(w) | L+625, 1.00% LIBOR Floor | 4/20/2026 | Services: Consumer | 14,925 | 14,790 | 14,776 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(w) | L+625, 1.00% LIBOR Floor | 4/20/2026 | Services: Consumer | 4,992 | 4,947 | 4,942 | ||||||||||||||||||||||||||||||||
Manus Bio Inc. | 11.00% | 8/20/2026 | Healthcare & Pharmaceuticals | 10,000 | 10,000 | 10,000 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028 | 1 Month LIBOR | Diversified Financials | 6,418 | 6,294 | 6,370 | |||||||||||||||||||||||||||
Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028 | 1 Month LIBOR | Diversified Financials | 250 | 241 | 248 | |||||||||||||||||||||||||||
Marble Point Credit Management LLC, 0.50% Unfunded, 8/11/2028 | None | Diversified Financials | 1,250 | — | (9) | |||||||||||||||||||||||||||
Mimeo.com, Inc., L+640, 1.00% LIBOR Floor, 12/21/2023 | 3 Month LIBOR | Services: Business | 23,018 | 23,018 | 23,018 | |||||||||||||||||||||||||||
Mimeo.com, Inc., L+640, 1.00% LIBOR Floor, 12/21/2023 | 3 Month LIBOR | Services: Business | 256 | 256 | 256 | |||||||||||||||||||||||||||
Mimeo.com, Inc., 1.00% Unfunded, 12/21/2023 | None | Services: Business | 5,000 | — | — | |||||||||||||||||||||||||||
Molded Devices, Inc., Prime + 500, 11/1/2026(m) | Prime | Services: Business | 15,574 | 15,407 | 15,418 | |||||||||||||||||||||||||||
Molded Devices, Inc., 1.00% Unfunded, 11/1/2026 | None | Services: Business | 1,771 | (17) | (18) | |||||||||||||||||||||||||||
Molded Devices, Inc., 0.50% Unfunded, 11/1/2026 | None | Services: Business | 2,656 | — | (27) | |||||||||||||||||||||||||||
Moss Holding Company, L+700, 1.00% LIBOR Floor, 4/17/2024(m)(n)(t) | 3 Month LIBOR | Services: Business | 19,641 | 19,506 | 17,922 | |||||||||||||||||||||||||||
Moss Holding Company, 0.50% Unfunded, 4/17/2024 | None | Services: Business | 2,126 | — | — | |||||||||||||||||||||||||||
Moss Holding Company, 7.00% Unfunded, 4/17/2024 | None | Services: Business | 106 | — | — | |||||||||||||||||||||||||||
Napa Management Services Corp., L+500, 1.00% LIBOR Floor, 4/19/2023 | 1 Month LIBOR | Healthcare & Pharmaceuticals | 5,318 | 5,267 | 5,324 | |||||||||||||||||||||||||||
NASCO Healthcare Inc., L+550, 1.00% LIBOR Floor, 6/30/2023(m) | 6 Month LIBOR | Services: Business | 17,458 | 17,458 | 17,218 | |||||||||||||||||||||||||||
Neptune Flood Inc., L+600, 1.00% LIBOR Floor, 10/21/2026(m) | 3 Month LIBOR | Banking, Finance, Insurance & Real Estate | 9,667 | 9,596 | 9,618 | |||||||||||||||||||||||||||
NewsCycle Solutions, Inc., L+700, 1.00% LIBOR Floor, 12/29/2022(m)(n) | 3 Month LIBOR | Media: Advertising, Printing & Publishing | 12,064 | 12,020 | 12,049 | |||||||||||||||||||||||||||
NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026 | 3 Month LIBOR | High Tech Industries | 13,100 | 12,980 | 13,100 | |||||||||||||||||||||||||||
NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026 | 3 Month LIBOR | High Tech Industries | 420 | 420 | 421 | |||||||||||||||||||||||||||
NWN Parent Holdings LLC, 0.50% Unfunded, 5/7/2026 | None | High Tech Industries | 1,380 | (18) | 3 | |||||||||||||||||||||||||||
Optio Rx, LLC, L+700, 0.00% LIBOR Floor, 6/28/2024(m)(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 23,344 | 23,255 | 22,994 | |||||||||||||||||||||||||||
Optio Rx, LLC, L+1000, 0.00% LIBOR Floor, 6/28/2024(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 2,515 | 2,498 | 2,647 | |||||||||||||||||||||||||||
Pentec Acquisition Corp., L+600, 1.00% LIBOR Floor, 10/8/2026 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 25,000 | 24,756 | 24,750 | |||||||||||||||||||||||||||
PetroChoice Holdings, Inc., L+500, 1.00% LIBOR Floor, 8/20/2022 | 3 Month LIBOR | Chemicals, Plastics & Rubber | 3,896 | 3,836 | 3,725 | |||||||||||||||||||||||||||
PH Beauty Holdings III. Inc., L+500, 0.00% LIBOR Floor, 9/28/2025(m) | 3 Month LIBOR | Consumer Goods: Non-Durable | 9,675 | 9,172 | 9,143 | |||||||||||||||||||||||||||
Playboy Enterprises, Inc., L+575, 0.50% LIBOR Floor, 5/25/2027(h)(n) | 3 Month LIBOR | Consumer Goods: Non-Durable | 28,606 | 28,043 | 28,320 | |||||||||||||||||||||||||||
Polymer Additives, Inc., L+600, 0.00% LIBOR Floor, 7/31/2025(m) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 19,400 | 19,173 | 18,963 | |||||||||||||||||||||||||||
RA Outdoors, LLC, L+675, 1.00% LIBOR Floor, 4/8/2026(m) | 3 Month LIBOR | Media: Diversified & Production | 15,911 | 15,911 | 15,772 | |||||||||||||||||||||||||||
RA Outdoors, LLC, 0.50% Unfunded, 4/8/2026 | None | Media: Diversified & Production | 1,049 | (170) | (9) | |||||||||||||||||||||||||||
Retail Services WIS Corp., L+775, 1.00% LIBOR Floor, 5/20/2025(m) | 3 Month LIBOR | Services: Business | 9,924 | 9,699 | 9,788 | |||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P., L+1800, 2.00% LIBOR Floor, 12/17/2022(m)(t) | 1 Month LIBOR | Services: Consumer | 1,905 | 1,905 | 1,827 | |||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC, L+650, 1.00% LIBOR Floor, 9/9/2025(m) | 1 Month LIBOR | Services: Business | 17,250 | 17,250 | 17,250 | |||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC, 0.75% Unfunded, 9/9/2025 | None | Services: Business | 2,885 | — | — | |||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC, 1.00% Unfunded, 9/9/2022 | None | Services: Business | 1,923 | — | — | |||||||||||||||||||||||||||
RumbleOn, Inc., L+825, 1.00% LIBOR Floor, 8/31/2026(m)(t) | 3 Month LIBOR | Automotive | 13,965 | 12,962 | 13,389 | |||||||||||||||||||||||||||
RumbleOn, Inc., 0.00% Unfunded, 2/28/2023(o) | None | Automotive | 6,000 | (56) | — | |||||||||||||||||||||||||||
Securus Technologies Holdings, Inc., L+450, 1.00% LIBOR Floor, 11/1/2024(m) | 3 Month LIBOR | Telecommunications | 3,908 | 3,201 | 3,908 | |||||||||||||||||||||||||||
Sequoia Healthcare Management, LLC, 12.75%, 8/21/2023(m)(n)(q) | None | Healthcare & Pharmaceuticals | 8,525 | 8,457 | 6,394 | |||||||||||||||||||||||||||
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC(v) | L+600, 1.00% LIBOR Floor | 8/11/2028 | Diversified Financials | 6,418 | 6,294 | 6,370 | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC(v) | L+600, 1.00% LIBOR Floor | 8/11/2028 | Diversified Financials | 250 | 241 | 248 | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC | 0.50% Unfunded | 8/11/2028 | Diversified Financials | 1,250 | — | (9) | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc.(w) | L+640, 1.00% LIBOR Floor | 12/21/2023 | Services: Business | 23,018 | 23,018 | 23,018 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc.(w) | L+640, 1.00% LIBOR Floor | 12/21/2023 | Services: Business | 256 | 256 | 256 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc. | 1.00% Unfunded | 12/21/2023 | Services: Business | 5,000 | — | — | ||||||||||||||||||||||||||||||||
Molded Devices, Inc.(m) | Prime + 500 | 11/1/2026 | Services: Business | 15,574 | 15,407 | 15,418 | ||||||||||||||||||||||||||||||||
Molded Devices, Inc. | 1.00% Unfunded | 11/1/2026 | Services: Business | 1,771 | (17) | (18) | ||||||||||||||||||||||||||||||||
Molded Devices, Inc. | 0.50% Unfunded | 11/1/2026 | Services: Business | 2,656 | — | (27) | ||||||||||||||||||||||||||||||||
Moss Holding Company(m)(n)(t)(w) | L+700, 1.00% LIBOR Floor | 4/17/2024 | Services: Business | 19,641 | 19,506 | 17,922 | ||||||||||||||||||||||||||||||||
Moss Holding Company | 0.50% Unfunded | 4/17/2024 | Services: Business | 2,126 | — | — | ||||||||||||||||||||||||||||||||
Moss Holding Company | 7.00% Unfunded | 4/17/2024 | Services: Business | 106 | — | — | ||||||||||||||||||||||||||||||||
Napa Management Services Corp.(v) | L+500, 1.00% LIBOR Floor | 4/19/2023 | Healthcare & Pharmaceuticals | 5,318 | 5,267 | 5,324 | ||||||||||||||||||||||||||||||||
NASCO Healthcare Inc.(m)(x) | L+550, 1.00% LIBOR Floor | 6/30/2023 | Services: Business | 17,458 | 17,458 | 17,218 | ||||||||||||||||||||||||||||||||
Neptune Flood Inc.(m)(w) | L+600, 1.00% LIBOR Floor | 10/21/2026 | Banking, Finance, Insurance & Real Estate | 9,667 | 9,596 | 9,618 | ||||||||||||||||||||||||||||||||
NewsCycle Solutions, Inc.(m)(n)(w) | L+700, 1.00% LIBOR Floor | 12/29/2022 | Media: Advertising, Printing & Publishing | 12,064 | 12,020 | 12,049 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(w) | L+650, 1.00% LIBOR Floor | 5/7/2026 | High Tech Industries | 13,100 | 12,980 | 13,100 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(w) | L+650, 1.00% LIBOR Floor | 5/7/2026 | High Tech Industries | 420 | 420 | 421 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC | 0.50% Unfunded | 5/7/2026 | High Tech Industries | 1,380 | (18) | 3 | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(m)(n)(w) | L+700, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 23,344 | 23,255 | 22,994 | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(n)(w) | L+1000, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 2,515 | 2,498 | 2,647 | ||||||||||||||||||||||||||||||||
Pentec Acquisition Corp.(w) | L+600, 1.00% LIBOR Floor | 10/8/2026 | Healthcare & Pharmaceuticals | 25,000 | 24,756 | 24,750 | ||||||||||||||||||||||||||||||||
PetroChoice Holdings, Inc.(w) | L+500, 1.00% LIBOR Floor | 8/20/2022 | Chemicals, Plastics & Rubber | 3,896 | 3,836 | 3,725 | ||||||||||||||||||||||||||||||||
PH Beauty Holdings III. Inc.(m)(w) | L+500, 0.00% LIBOR Floor | 9/28/2025 | Consumer Goods: Non-Durable | 9,675 | 9,172 | 9,143 | ||||||||||||||||||||||||||||||||
Playboy Enterprises, Inc.(h)(n)(w) | L+575, 0.50% LIBOR Floor | 5/25/2027 | Consumer Goods: Non-Durable | 28,606 | 28,043 | 28,320 | ||||||||||||||||||||||||||||||||
Polymer Additives, Inc.(m)(w) | L+600, 0.00% LIBOR Floor | 7/31/2025 | Chemicals, Plastics & Rubber | 19,400 | 19,173 | 18,963 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(w) | L+675, 1.00% LIBOR Floor | 4/8/2026 | Media: Diversified & Production | 15,911 | 15,911 | 15,772 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC | 0.50% Unfunded | 4/8/2026 | Media: Diversified & Production | 1,049 | (170) | (9) | ||||||||||||||||||||||||||||||||
Retail Services WIS Corp.(m)(w) | L+775, 1.00% LIBOR Floor | 5/20/2025 | Services: Business | 9,924 | 9,699 | 9,788 | ||||||||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P.(m)(t)(v) | L+1800, 2.00% LIBOR Floor | 12/17/2022 | Services: Consumer | 1,905 | 1,905 | 1,827 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC(m)(v) | L+650, 1.00% LIBOR Floor | 9/9/2025 | Services: Business | 17,250 | 17,250 | 17,250 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 0.75% Unfunded | 9/9/2025 | Services: Business | 2,885 | — | — | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 1.00% Unfunded | 9/9/2022 | Services: Business | 1,923 | — | — | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(m)(t)(w) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 13,965 | 12,962 | 13,389 | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(o) | 0.00% Unfunded | 2/28/2023 | Automotive | 6,000 | (56) | — | ||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(m)(w) | L+450, 1.00% LIBOR Floor | 11/1/2024 | Telecommunications | 3,908 | 3,201 | 3,908 | ||||||||||||||||||||||||||||||||
Sequoia Healthcare Management, LLC(m)(n)(q) | 12.75% | 8/21/2023 | Healthcare & Pharmaceuticals | 8,525 | 8,457 | 6,394 |
Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||
SIMR, LLC, L+1700, 2.00% LIBOR Floor, 9/7/2023(r)(t) | 1 Month LIBOR | Healthcare & Pharmaceuticals | 19,938 | 19,813 | 16,000 | |||||||||||||||||||||||||||
Sleep Opco, LLC, L+650, 1.00% LIBOR Floor, 10/12/2026(m) | 3 Month LIBOR | Retail | 13,250 | 12,991 | 12,985 | |||||||||||||||||||||||||||
Sleep Opco, LLC, 0.50% Unfunded, 10/12/2026(m) | None | Retail | 1,750 | (34) | (35) | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 12,526 | 12,491 | 11,743 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 1,054 | 1,054 | 991 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 689 | 600 | 644 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 649 | 647 | 609 | |||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 546 | 475 | 560 | |||||||||||||||||||||||||||
Tenere Inc., L+850, 1.00% LIBOR Floor, 7/1/2025(m)(n) | 3 Month LIBOR | Capital Equipment | 18,080 | 18,080 | 18,080 | |||||||||||||||||||||||||||
Tensar Corp., L+675, 1.00% LIBOR Floor, 11/20/2025(m) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 4,950 | 4,850 | 4,982 | |||||||||||||||||||||||||||
Trademark Global, LLC, L+600, 1.00% LIBOR Floor, 7/30/2024 | 1 Month LIBOR | Services: Business | 15,346 | 15,278 | 15,250 | |||||||||||||||||||||||||||
Trademark Global, LLC, 1.00% Unfunded, 7/30/2023 | None | Services: Business | 4,615 | (21) | (29) | |||||||||||||||||||||||||||
Trammell, P.C., L+1800, 2.00% LIBOR Floor, 6/25/2022(i)(t) | 1 Month LIBOR | Services: Consumer | 18,091 | 18,091 | 18,091 | |||||||||||||||||||||||||||
USALCO, LLC, L+600, 1.00% LIBOR Floor, 10/19/2027(m) | 3 Month LIBOR | Chemicals, Plastics & Rubber | 25,000 | 24,753 | 24,875 | |||||||||||||||||||||||||||
Vesta Holdings, LLC, L+1000, 1.00% LIBOR Floor, 2/25/2024(m)(t) | 1 Month LIBOR | Banking, Finance, Insurance & Real Estate | 24,933 | 24,933 | 24,933 | |||||||||||||||||||||||||||
Volta Charging, LLC, 12.00%, 6/19/2024(m) | None | Media: Diversified & Production | 12,000 | 11,984 | 13,095 | |||||||||||||||||||||||||||
Volta Charging, LLC, 12.00%, 6/19/2024(m) | None | Media: Diversified & Production | 10,500 | 10,500 | 11,458 | |||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m)(n) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 9,441 | 9,396 | 9,417 | |||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 3,562 | 3,553 | 3,553 | |||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC, L+750, 1.00% LIBOR Floor, 2/11/2025 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 1,179 | 1,179 | 1,191 | |||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m) | 3 Month LIBOR | Healthcare & Pharmaceuticals | 1,105 | 1,094 | 1,102 | |||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC, 0.50% Unfunded, 2/11/2025(m) | None | Healthcare & Pharmaceuticals | 552 | — | (1) | |||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC, 0.75% Unfunded, 2/11/2022 | None | Healthcare & Pharmaceuticals | 5,755 | (13) | (8) | |||||||||||||||||||||||||||
Williams Industrial Services Group, Inc, L+900, 1.00% LIBOR Floor, 12/16/2025(n) | 1 Month LIBOR | Services: Business | 9,775 | 9,775 | 9,861 | |||||||||||||||||||||||||||
Williams Industrial Services Group, Inc, 0.50% Unfunded, 12/16/2025 | None | Services: Business | 5,000 | — | 44 | |||||||||||||||||||||||||||
Wind River Systems, Inc., L+675, 1.00% LIBOR Floor, 6/24/2024(n) | 3 Month LIBOR | High Tech Industries | 23,684 | 23,507 | 23,684 | |||||||||||||||||||||||||||
Wok Holdings Inc., L+625, 0.00% LIBOR Floor, 3/1/2026(m) | 1 Month LIBOR | Beverage, Food & Tobacco | 20,340 | 19,882 | 20,238 | |||||||||||||||||||||||||||
Xenon Arc, Inc., L+600, 0.75% LIBOR Floor, 12/17/2027(m) | 3 Month LIBOR | High Tech Industries | 10,000 | 9,875 | 9,875 | |||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | 1,564,891 | 1,526,989 | ||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt - 4.1% | ||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc., L+850, 1.00% LIBOR Floor, 9/25/2024(m)(q)(r)(t) | 3 Month LIBOR | Media: Diversified & Production | 10,534 | 10,017 | — | |||||||||||||||||||||||||||
Global Tel*Link Corp., L+825, 0.00% LIBOR Floor, 11/29/2026(n) | 1 Month LIBOR | Telecommunications | 11,500 | 11,356 | 11,471 | |||||||||||||||||||||||||||
PetroChoice Holdings, Inc., L+875, 1.00% LIBOR Floor, 8/21/2023 | 3 Month LIBOR | Chemicals, Plastics & Rubber | 15,000 | 14,524 | 14,175 | |||||||||||||||||||||||||||
Premiere Global Services, Inc., L+950, 1.00% LIBOR Floor, 6/6/2024(q)(t) | 3 Month LIBOR | Telecommunications | 3,775 | 3,435 | — | |||||||||||||||||||||||||||
Securus Technologies Holdings, Inc., L+825, 1.00% LIBOR Floor, 11/1/2025 | 3 Month LIBOR | Telecommunications | 2,942 | 2,924 | 2,943 | |||||||||||||||||||||||||||
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
SIMR, LLC(r)(t)(v) | L+1700, 2.00% LIBOR Floor | 9/7/2023 | Healthcare & Pharmaceuticals | 19,938 | 19,813 | 16,000 | ||||||||||||||||||||||||||||||||
Sleep Opco, LLC(m)(w) | L+650, 1.00% LIBOR Floor | 10/12/2026 | Retail | 13,250 | 12,991 | 12,985 | ||||||||||||||||||||||||||||||||
Sleep Opco, LLC(m) | 0.50% Unfunded | 10/12/2026 | Retail | 1,750 | (34) | (35) | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(w) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 12,526 | 12,491 | 11,743 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(w) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 1,054 | 1,054 | 991 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(w) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 689 | 600 | 644 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(w) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 649 | 647 | 609 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(w) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 546 | 475 | 560 | ||||||||||||||||||||||||||||||||
Tenere Inc.(m)(n)(w) | L+850, 1.00% LIBOR Floor | 7/1/2025 | Capital Equipment | 18,080 | 18,080 | 18,080 | ||||||||||||||||||||||||||||||||
Tensar Corp.(m)(w) | L+675, 1.00% LIBOR Floor | 11/20/2025 | Chemicals, Plastics & Rubber | 4,950 | 4,850 | 4,982 | ||||||||||||||||||||||||||||||||
Trademark Global, LLC(v) | L+600, 1.00% LIBOR Floor | 7/30/2024 | Services: Business | 15,346 | 15,278 | 15,250 | ||||||||||||||||||||||||||||||||
Trademark Global, LLC | 1.00% Unfunded | 7/30/2023 | Services: Business | 4,615 | (21) | (29) | ||||||||||||||||||||||||||||||||
Trammell, P.C.(i)(t)(v) | L+1800, 2.00% LIBOR Floor | 6/25/2022 | Services: Consumer | 18,091 | 18,091 | 18,091 | ||||||||||||||||||||||||||||||||
USALCO, LLC(m)(w) | L+600, 1.00% LIBOR Floor | 10/19/2027 | Chemicals, Plastics & Rubber | 25,000 | 24,753 | 24,875 | ||||||||||||||||||||||||||||||||
Vesta Holdings, LLC(m)(t)(v) | L+1000, 1.00% LIBOR Floor | 2/25/2024 | Banking, Finance, Insurance & Real Estate | 24,933 | 24,933 | 24,933 | ||||||||||||||||||||||||||||||||
Volta Charging, LLC(m) | 12.00% | 6/19/2024 | Media: Diversified & Production | 12,000 | 11,984 | 13,095 | ||||||||||||||||||||||||||||||||
Volta Charging, LLC(m) | 12.00% | 6/19/2024 | Media: Diversified & Production | 10,500 | 10,500 | 11,458 | ||||||||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC(m)(n)(w) | L+600, 1.00% LIBOR Floor | 2/11/2025 | Healthcare & Pharmaceuticals | 9,441 | 9,396 | 9,417 | ||||||||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC(w) | L+600, 1.00% LIBOR Floor | 2/11/2025 | Healthcare & Pharmaceuticals | 3,562 | 3,553 | 3,553 | ||||||||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC(w) | L+750, 1.00% LIBOR Floor | 2/11/2025 | Healthcare & Pharmaceuticals | 1,179 | 1,179 | 1,191 | ||||||||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC(m)(w) | L+600, 1.00% LIBOR Floor | 2/11/2025 | Healthcare & Pharmaceuticals | 1,105 | 1,094 | 1,102 | ||||||||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC(m) | 0.50% Unfunded | 2/11/2025 | Healthcare & Pharmaceuticals | 552 | — | (1) | ||||||||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC(m) | 0.75% Unfunded | 2/11/2022 | Healthcare & Pharmaceuticals | 5,755 | (13) | (8) | ||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc(n)(v) | L+900, 1.00% LIBOR Floor | 12/16/2025 | Services: Business | 9,775 | 9,775 | 9,861 | ||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc | 0.50% Unfunded | 12/16/2025 | Services: Business | 5,000 | — | 44 | ||||||||||||||||||||||||||||||||
Wind River Systems, Inc.(n)(w) | L+675, 1.00% LIBOR Floor | 6/24/2024 | High Tech Industries | 23,684 | 23,507 | 23,684 | ||||||||||||||||||||||||||||||||
Wok Holdings Inc.(m)(v) | L+625, 0.00% LIBOR Floor | 3/1/2026 | Beverage, Food & Tobacco | 20,340 | 19,882 | 20,238 | ||||||||||||||||||||||||||||||||
Xenon Arc, Inc.(m)(w) | L+600, 0.75% LIBOR Floor | 12/17/2027 | High Tech Industries | 10,000 | 9,875 | 9,875 | ||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | 1,564,891 | 1,526,989 | ||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt - 4.1% | ||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(w) | L+850, 1.00% LIBOR Floor | 9/25/2024 | Media: Diversified & Production | 10,534 | 10,017 | — | ||||||||||||||||||||||||||||||||
Global Tel*Link Corp.(n)(v) | L+825, 0.00% LIBOR Floor | 11/29/2026 | Telecommunications | 11,500 | 11,356 | 11,471 | ||||||||||||||||||||||||||||||||
PetroChoice Holdings, Inc.(w) | L+875, 1.00% LIBOR Floor | 8/21/2023 | Chemicals, Plastics & Rubber | 15,000 | 14,524 | 14,175 | ||||||||||||||||||||||||||||||||
Premiere Global Services, Inc.(q)(t)(w) | L+950, 1.00% LIBOR Floor | 6/6/2024 | Telecommunications | 3,775 | 3,435 | — | ||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(w) | L+825, 1.00% LIBOR Floor | 11/1/2025 | Telecommunications | 2,942 | 2,924 | 2,943 |
Portfolio Company(a) | Portfolio Company(a) | Index Rate(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TMK Hawk Parent, Corp., L+800, 1.00% LIBOR Floor, 8/28/2025 | 1 Month LIBOR | Services: Business | 13,393 | 13,199 | 9,994 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TMK Hawk Parent, Corp.(v) | TMK Hawk Parent, Corp.(v) | L+800, 1.00% LIBOR Floor | 8/28/2025 | Services: Business | 13,393 | 13,199 | 9,994 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | Total Senior Secured Second Lien Debt | 55,455 | 38,583 | Total Senior Secured Second Lien Debt | 55,455 | 38,583 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity - 0.3% | Collateralized Securities and Structured Products - Equity - 0.3% | Collateralized Securities and Structured Products - Equity - 0.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APIDOS CLO XVI Subordinated Notes, 0.00% Estimated Yield, 1/19/2025(h) | (g) | Diversified Financials | 9,000 | 2,136 | 984 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy XV CLO Ltd. Class A Subordinated Notes, 5.76% Estimated Yield, 4/15/2025(h) | (g) | Diversified Financials | 4,000 | 1,749 | 2,014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APIDOS CLO XVI Subordinated Notes(g)(h) | APIDOS CLO XVI Subordinated Notes(g)(h) | 0.00% Estimated Yield | 1/19/2025 | Diversified Financials | 9,000 | 2,136 | 984 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h) | Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h) | 5.76% Estimated Yield | 4/15/2025 | Diversified Financials | 4,000 | 1,749 | 2,014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | Total Collateralized Securities and Structured Products - Equity | 3,885 | 2,998 | Total Collateralized Securities and Structured Products - Equity | 3,885 | 2,998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured Debt - 2.9% | Unsecured Debt - 2.9% | Unsecured Debt - 2.9% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC, 12.50%, 5/29/2028(t) | None | Hotel, Gaming & Leisure | 20,219 | 20,219 | 20,219 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WPLM Acquisition Corp., 15.00%, 11/24/2025(t) | None | Media: Advertising, Printing & Publishing | 6,628 | 6,558 | 6,397 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC(t) | Lucky Bucks Holdings LLC(t) | 12.50% | 5/29/2028 | Hotel, Gaming & Leisure | 20,219 | 20,219 | 20,219 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WPLM Acquisition Corp.(t) | WPLM Acquisition Corp.(t) | 15.00% | 11/24/2025 | Media: Advertising, Printing & Publishing | 6,628 | 6,558 | 6,397 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Unsecured Debt | Total Unsecured Debt | 26,777 | 26,616 | Total Unsecured Debt | 26,777 | 26,616 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity - 7.6% | Equity - 7.6% | Equity - 7.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | — | ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Membership Units(o) | Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 639 | Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Warrants(o) | Ascent Resources - Marcellus, LLC, Warrants(o) | Energy: Oil & Gas | 132,367 Units | 13 | 3 | Ascent Resources - Marcellus, LLC, Warrants(o) | Energy: Oil & Gas | 132,367 Units | 13 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 29,796 | CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 29,796 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | Diversified Financials | NA | — | — | CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | Diversified Financials | NA | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A1 Preferred Stock(o) | DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | 2,251 | DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | 2,251 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A2 Preferred Stock(o) | DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 182 | DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 182 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A Preferred Stock(o) | DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 164 | DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 164 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series B Preferred Stock(o) | DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 162 | DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Common Stock(o) | DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | — | DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Reallocation Rights(o) | DBI Investors, Inc., Reallocation Rights(o) | Retail | 7,500 Units | — | — | DBI Investors, Inc., Reallocation Rights(o) | Retail | 7,500 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc., Common Shares(o)(r) | GSC Technologies Inc., Common Shares(o)(r) | Chemicals, Plastics & Rubber | 807,268 Units | — | — | GSC Technologies Inc., Common Shares(o)(r) | Chemicals, Plastics & Rubber | 807,268 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Retail | 1,000,000 Units | 1,000 | 20 | Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Retail | 1,000,000 Units | 1,000 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(o) | Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(o) | Retail | 2,632,771 Units | 2,133 | 3,949 | Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(o) | Retail | 2,632,771 Units | 2,133 | 3,949 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(o) | Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(o) | Retail | 2,632,771 Units | 2,633 | 2,791 | Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(o) | Retail | 2,632,771 Units | 2,633 | 2,791 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Retail | 155,880 Units | — | — | Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Retail | 155,880 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 15,127 | Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 15,127 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mooregate ITC Acquisition, LLC, Class A Units(o) | Mooregate ITC Acquisition, LLC, Class A Units(o) | High Tech Industries | 500 Units | 562 | 171 | Mooregate ITC Acquisition, LLC, Class A Units(o) | High Tech Industries | 500 Units | 562 | 171 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc., Common Stock(f)(h)(r) | Mount Logan Capital Inc., Common Stock(f)(h)(r) | Banking, Finance, Insurance & Real Estate | 1,075,557 Units | 3,534 | 3,404 | Mount Logan Capital Inc., Common Stock(f)(h)(r) | Banking, Finance, Insurance & Real Estate | 1,075,557 Units | 3,534 | 3,404 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Class A Preferred Units(o) | NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 2,382 | NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 2,382 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Non-voting Units(o) | NS NWN Acquisition, LLC, Non-voting Units(o) | High Tech Industries | 346 Units | 393 | — | NS NWN Acquisition, LLC, Non-voting Units(o) | High Tech Industries | 346 Units | 393 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Holdco LLC, Voting Units (o) | NS NWN Holdco LLC, Voting Units (o) | High Tech Industries | 522 Units | 504 | 525 | NS NWN Holdco LLC, Voting Units (o) | High Tech Industries | 522 Units | 504 | 525 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 770 | NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 770 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palmetto Clean Technology, Inc., Warrants(o) | Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 472 | 3,222 | Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 472 | 3,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RumbleOn, Inc., Warrants(o) | RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 978 | RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 978 |
Portfolio Company(a) | Portfolio Company(a) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | Portfolio Company(a) | Interest(b) | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SIMR Parent, LLC, Class B Common Units(o)(r) | SIMR Parent, LLC, Class B Common Units(o)(r) | Healthcare & Pharmaceuticals | 12,283,163 Units | 8,002 | — | SIMR Parent, LLC, Class B Common Units(o)(r) | Healthcare & Pharmaceuticals | 12,283,163 Units | 8,002 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SIMR Parent, LLC, Class W Units(o)(r) | SIMR Parent, LLC, Class W Units(o)(r) | Healthcare & Pharmaceuticals | 1,778,219 Units | — | — | SIMR Parent, LLC, Class W Units(o)(r) | Healthcare & Pharmaceuticals | 1,778,219 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Class A Common Stock(o)(r) | Snap Fitness Holdings, Inc., Class A Common Stock(o)(r) | Services: Consumer | 9,858 Units | 3,078 | 3,131 | Snap Fitness Holdings, Inc., Class A Common Stock(o)(r) | Services: Consumer | 9,858 Units | 3,078 | 3,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Warrants(o)(r) | Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 1,269 | Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 1,269 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 53,379 | 70,936 | Total Equity | 53,379 | 70,936 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short Term Investments - 9.5%(k) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares, 0.01% (l) | 87,917 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short Term Investments - 9.4%(k) | Short Term Investments - 9.4%(k) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares | First American Treasury Obligations Fund, Class Z Shares | 0.01%(l) | 87,917 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Short Term Investments | Total Short Term Investments | 87,917 | 87,917 | Total Short Term Investments | 87,917 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 188.5% | TOTAL INVESTMENTS - 188.5% | $ | 1,792,304 | 1,754,039 | TOTAL INVESTMENTS - 188.5% | $ | 1,792,304 | 1,754,039 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (88.5%) | (823,527) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS - 100% | $ | 930,512 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (88.5)% | LIABILITIES IN EXCESS OF OTHER ASSETS - (88.5)% | (823,527) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS - 100.0% | NET ASSETS - 100.0% | $ | 930,512 |
Year Ended December 31, 2021 | Year Ended December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-Controlled, Affiliated Investments | Fair Value at December 31, 2020 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at December 31, 2021 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||
Alert 360 Opco, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | $ | — | $ | 12,240 | $ | (12,240) | $ | — | $ | — | $ | — | $ | 796 | $ | — | ||||||||||||||||||||||||||||||||||
Common Stock | — | 3,624 | (3,624) | — | — | (117) | — | — | ||||||||||||||||||||||||||||||||||||||||||
American Clinical Solutions LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tranche I Term Loan | 3,124 | 35 | (3,421) | 262 | — | — | 282 | — | ||||||||||||||||||||||||||||||||||||||||||
First Amendment Tranche I Term Loan | 242 | — | (250) | 8 | — | — | 18 | — | ||||||||||||||||||||||||||||||||||||||||||
Class A Membership Interests | 663 | — | (1,658) | 995 | — | 3,542 | — | — | ||||||||||||||||||||||||||||||||||||||||||
ARC Financial, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Interests | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes Fund LP | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Interests | 12,611 | 5,377 | (18,241) | 253 | — | 33 | — | 1,078 | ||||||||||||||||||||||||||||||||||||||||||
Charming Charlie, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Vendor Payment Financing Facility | 350 | — | — | — | 350 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Conisus Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock | 16,481 | 951 | (16,094) | (1,338) | — | — | — | 4,428 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock | 12,401 | — | (200) | (12,201) | — | 19,110 | — | — | ||||||||||||||||||||||||||||||||||||||||||
DESG Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 3,978 | 48 | (1,176) | (1,063) | 1,787 | 180 | (291) | — | ||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Common Stock | — | — | (13,675) | 13,675 | — | (13,675) | — | — | ||||||||||||||||||||||||||||||||||||||||||
F+W Media, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan B-1 | — | — | (1,115) | 1,115 | — | (1,080) | — | — | ||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental Term Loan | — | 176 | (6) | — | 170 | — | 5 | — | ||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan A | 2,289 | 18 | (17) | (289) | 2,001 | 1 | 165 | — | ||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan B | 755 | 58 | — | (328) | 485 | — | 58 | — | ||||||||||||||||||||||||||||||||||||||||||
Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Lift Brands, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan A | 23,642 | — | (118) | (118) | 23,406 | — | 2,036 | — | ||||||||||||||||||||||||||||||||||||||||||
Term Loan B | 4,751 | 502 | — | (97) | 5,156 | — | 503 | — | ||||||||||||||||||||||||||||||||||||||||||
Term Loan C | 4,687 | 129 | — | (116) | 4,700 | — | 129 | — | ||||||||||||||||||||||||||||||||||||||||||
Longview Power, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 2,414 | 2,019 | (26) | 97 | 4,504 | 16 | 581 | — | ||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Units | 7,988 | 179 | — | 6,960 | 15,127 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | 2,409 | — | — | 995 | 3,404 | — | — | 70 | ||||||||||||||||||||||||||||||||||||||||||
SIMR, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 13,347 | 3,839 | — | (1,186) | 16,000 | — | 3,839 | — | ||||||||||||||||||||||||||||||||||||||||||
SIMR Parent, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Membership Units | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Class W Membership Units | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Stock | 3,389 | — | — | (258) | 3,131 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Warrants | 1,374 | — | — | (105) | 1,269 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Totals | $ | 116,895 | $ | 29,195 | $ | (71,861) | $ | 7,261 | $ | 81,490 | $ | 8,010 | $ | 8,121 | $ | 5,576 |
Year Ended December 31, 2021 | Year Ended December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Controlled Investments | Fair Value at December 31, 2020 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at December 31, 2021 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||
CION SOF Funding, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Interests | $ | 12,472 | $ | — | $ | (15,539) | $ | 3,067 | $ | — | $ | (3,067) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Note | — | 61,629 | — | — | 61,629 | — | 260 | — | ||||||||||||||||||||||||||||||||||||||||||
Participating Preferred Shares | — | 22,073 | — | 7,723 | 29,796 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Totals | $ | 12,472 | $ | 83,702 | $ | (15,539) | $ | 10,790 | $ | 91,425 | $ | (3,067) | $ | 260 | $ | — |
Interest Rate | ||||||||||||||||||||||||||
Portfolio Company | Investment Type | Cash | PIK | All-in-Rate | ||||||||||||||||||||||
Adapt Laser Acquisition, Inc. | Senior Secured First Lien Debt | 11.00% | 2.00% | 13.00% | ||||||||||||||||||||||
American Consolidated Natural Resources, Inc. | Senior Secured First Lien Debt | 14.00% | 3.00% | 17.00% | ||||||||||||||||||||||
Ancile Solutions, Inc. | Senior Secured First Lien Debt | 8.00% | 3.00% | 11.00% | ||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Senior Secured First Lien Debt | 7.75% | 2.25% | 10.00% | ||||||||||||||||||||||
Cadence Aerospace, LLC | Senior Secured First Lien Debt | 7.50% | 2.00% | 9.50% | ||||||||||||||||||||||
CHC Solutions Inc. | Senior Secured First Lien Debt | 8.00% | 4.00% | 12.00% | ||||||||||||||||||||||
CION/EagleTree Partners, LLC | Senior Secured Note | — | 14.00% | 14.00% | ||||||||||||||||||||||
CircusTrix Holdings, LLC | Senior Secured First Lien Debt | 6.50% | 2.50% | 9.00% | ||||||||||||||||||||||
David's Bridal, LLC | Senior Secured First Lien Debt | 6.00% | 5.00% | 11.00% | ||||||||||||||||||||||
David's Bridal, LLC | Senior Secured First Lien Debt | 1.00% | 6.00% | 7.00% | ||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Senior Secured First Lien Debt | 6.00% | 1.50% | 7.50% | ||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Senior Secured Second Lien Debt | 7.00% | 2.50% | 9.50% | ||||||||||||||||||||||
GSC Technologies Inc. | Senior Secured First Lien Debt | — | 6.00% | 6.00% | ||||||||||||||||||||||
GSC Technologies Inc. | Senior Secured First Lien Debt | 6.00% | 5.00% | 11.00% | ||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP | Senior Secured First Lien Debt | — | 20.00% | 20.00% | ||||||||||||||||||||||
Homer City Generation, L.P. | Senior Secured First Lien Debt | — | 15.00% | 15.00% | ||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 6.00% | 6.00% | ||||||||||||||||||||||
LAV Gear Holdings, Inc. | Senior Secured First Lien Debt | 6.50% | 2.00% | 8.50% | ||||||||||||||||||||||
Lift Brands, Inc. | Senior Secured First Lien Debt | — | 9.50% | 9.50% | ||||||||||||||||||||||
Lucky Bucks Holdings LLC | Unsecured Note | — | 12.50% | 12.50% | ||||||||||||||||||||||
Moss Holding Company | Senior Secured First Lien Debt | 7.50% | 0.50% | 8.00% | ||||||||||||||||||||||
Premiere Global Services, Inc. | Senior Secured Second Lien Debt | 0.50% | 10.00% | 10.50% | ||||||||||||||||||||||
Robert C. Hilliard, L.L.P. | Senior Secured First Lien Debt | — | 20.00% | 20.00% | ||||||||||||||||||||||
RumbleOn, Inc. | Senior Secured First Lien Debt | 8.25% | 1.00% | 9.25% | ||||||||||||||||||||||
SIMR, LLC | Senior Secured First Lien Debt | 12.00% | 7.00% | 19.00% | ||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc. | Senior Secured First Lien Debt | — | 9.63% | 9.63% | ||||||||||||||||||||||
Trammell, P.C. | Senior Secured First Lien Debt | — | 20.00% | 20.00% | ||||||||||||||||||||||
Vesta Holdings, LLC | Senior Secured First Lien Debt | 7.00% | 4.00% | 11.00% | ||||||||||||||||||||||
WPLM Acquisition Corp. | Unsecured Note | — | 15.00% | 15.00% | ||||||||||||||||||||||
Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | |||||||||||||||||||
Weighted average number of shares of common stock outstanding (as reported) | 113,495,366 | 113,501,166 | ||||||||||||||||||
Weighted average number of shares of common stock outstanding (pro-forma) | 56,747,687 | 56,750,588 | ||||||||||||||||||
Net increase in net assets per share resulting from operations (as reported) | $ | 0.25 | $ | 0.68 | ||||||||||||||||
Net increase in net assets per share resulting from operations (pro-forma) | $ | 0.49 | $ | 1.37 |
Six Months Ended June 30, | Year Ended December 31, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross shares/proceeds from the offering | Gross shares/proceeds from the offering | — | $ | — | — | $ | — | — | $ | — | Gross shares/proceeds from the offering | — | $ | — | — | $ | — | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvestment of distributions | Reinvestment of distributions | — | — | 659,488 | 10,424 | 970,223 | 15,489 | Reinvestment of distributions | — | — | 970,223 | 15,489 | 970,223 | 15,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total gross shares/proceeds | Total gross shares/proceeds | — | — | 659,488 | 10,424 | 970,223 | 15,489 | Total gross shares/proceeds | — | — | 970,223 | 15,489 | 970,223 | 15,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales commissions and dealer manager fees | Sales commissions and dealer manager fees | — | — | — | — | — | — | Sales commissions and dealer manager fees | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net shares/proceeds | Net shares/proceeds | — | — | 659,488 | 10,424 | 970,223 | 15,489 | Net shares/proceeds | — | — | 970,223 | 15,489 | 970,223 | 15,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share repurchase program | Share repurchase program | — | — | (657,877) | (10,454) | (658,650) | (10,467) | Share repurchase program | (695,476) | (6,711) | (658,650) | (10,467) | (658,650) | (10,467) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net shares/proceeds from share transactions | Net shares/proceeds from share transactions | — | $ | — | 1,611 | $ | (30) | 311,573 | $ | 5,022 | Net shares/proceeds from share transactions | (695,476) | $ | (6,711) | 311,573 | $ | 5,022 | 311,573 | $ | 5,022 |
Three Months Ended | Repurchase Date | Shares Repurchased(1) | Percentage of Shares Tendered That Were Repurchased | Repurchase Price Per Share(1) | Aggregate Consideration for Repurchased Shares | |||||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||||||||
March 31, 2021 | March 24, 2021 | 337,731 | 6% | $ | 15.67 | $ | 5,291 | |||||||||||||||||||||||||
June 30, 2021 | June 23, 2021 | 320,127 | 7% | 16.13 | 5,163 | |||||||||||||||||||||||||||
September 30, 2021(2) | N/A | 792 | N/A | 16.13 | 13 | |||||||||||||||||||||||||||
December 31, 2021 | N/A | — | N/A | N/A | — | |||||||||||||||||||||||||||
Total for the year ended December 31, 2021 | 658,650 | $ | 10,467 | |||||||||||||||||||||||||||||
2022 | ||||||||||||||||||||||||||||||||
March 31, 2022 | N/A | — | N/A | N/A | $ | — | ||||||||||||||||||||||||||
June 30, 2022 | N/A | — | N/A | N/A | — | |||||||||||||||||||||||||||
Total for the year ended December 31, 2022 | — | $ | — | |||||||||||||||||||||||||||||
Three Months Ended | Repurchase Date | Shares Repurchased(1) | Percentage of Shares Tendered That Were Repurchased | Repurchase Price Per Share(1) | Aggregate Consideration for Repurchased Shares | |||||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||||||||
March 31, 2021 | March 24, 2021 | 337,731 | 6% | $ | 15.67 | $ | 5,291 | |||||||||||||||||||||||||
June 30, 2021 | June 23, 2021 | 320,127 | 7% | 16.13 | 5,163 | |||||||||||||||||||||||||||
September 30, 2021(2) | N/A | 792 | N/A | 16.13 | 13 | |||||||||||||||||||||||||||
December 31, 2021 | N/A | — | N/A | N/A | — | |||||||||||||||||||||||||||
Total for the year ended December 31, 2021 | 658,650 | $ | 10,467 | |||||||||||||||||||||||||||||
2022 | ||||||||||||||||||||||||||||||||
March 31, 2022 | N/A | — | N/A | N/A | $ | — | ||||||||||||||||||||||||||
June 30, 2022 | N/A | — | N/A | N/A | — | |||||||||||||||||||||||||||
September 30, 2022 | N/A | 695,476 | N/A | 9.65 | 6,711 | |||||||||||||||||||||||||||
Total for the year ended December 31, 2022 | 695,476 | $ | 6,711 | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entity | Entity | Capacity | Description | 2022 | 2021 | 2022 | 2021 | 2021 | Entity | Capacity | Description | 2022 | 2021 | 2022 | 2021 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIM | CIM | Investment adviser | Management fees(1) | $ | 6,839 | $ | 8,243 | $ | 13,494 | $ | 16,026 | $ | 31,143 | CIM | Investment adviser | Management fees(1) | $ | 6,942 | $ | 8,443 | $ | 20,436 | $ | 24,469 | $ | 31,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIM | CIM | Investment adviser | Incentive fees(1) | 4,091 | — | 8,224 | — | 6,875 | CIM | Investment adviser | Incentive fees(1) | 5,421 | 2,933 | 13,645 | 2,933 | 6,875 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIM | CIM | Administrative services provider | Administrative services expense(1) | 781 | 697 | 1,501 | 1,381 | 3,069 | CIM | Administrative services provider | Administrative services expense(1) | 733 | 722 | 2,234 | 2,103 | 3,069 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apollo Investment Administration, L.P. | Apollo Investment Administration, L.P. | Administrative services provider | Transaction costs(1) | — | 38 | — | 85 | 105 | Apollo Investment Administration, L.P. | Administrative services provider | Transaction costs(1) | — | 10 | — | 95 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 11,711 | $ | 8,978 | $ | 23,219 | $ | 17,492 | $ | 41,192 | $ | 13,096 | $ | 12,108 | $ | 36,315 | $ | 29,600 | $ | 41,192 |
Distributions | Distributions | |||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Per Share | Amount | Three Months Ended | Per Share | Amount | ||||||||||||||||||||||
2021 | 2021 | 2021 | ||||||||||||||||||||||||||
March 31, 2021 (three record dates)(1) | March 31, 2021 (three record dates)(1) | $ | 0.2648 | $ | 15,029 | March 31, 2021 (three record dates)(1) | $ | 0.2648 | $ | 15,029 | ||||||||||||||||||
June 30, 2021 (three record dates)(1) | June 30, 2021 (three record dates)(1) | 0.2648 | 15,000 | June 30, 2021 (three record dates)(1) | 0.2648 | 15,000 | ||||||||||||||||||||||
September 30, 2021 (three record dates) | September 30, 2021 (three record dates) | 0.2648 | 15,027 | September 30, 2021 (three record dates) | 0.2648 | 15,027 | ||||||||||||||||||||||
December 31, 2021 (two record dates) | December 31, 2021 (two record dates) | 0.4648 | 26,474 | December 31, 2021 (two record dates) | 0.4648 | 26,474 | ||||||||||||||||||||||
Total distributions for the year ended December 31, 2021 | Total distributions for the year ended December 31, 2021 | $ | 1.2592 | $ | 71,530 | Total distributions for the year ended December 31, 2021 | $ | 1.2592 | $ | 71,530 | ||||||||||||||||||
2022 | 2022 | 2022 | ||||||||||||||||||||||||||
March 31, 2022 (one record date) | March 31, 2022 (one record date) | $ | 0.2800 | $ | 15,948 | March 31, 2022 (one record date) | $ | 0.2800 | $ | 15,948 | ||||||||||||||||||
June 30, 2022 (one record date) | June 30, 2022 (one record date) | $ | 0.2800 | $ | 15,949 | June 30, 2022 (one record date) | 0.2800 | 15,949 | ||||||||||||||||||||
Total distributions for the six months ended June 30, 2022 | $ | 0.5600 | $ | 31,897 | ||||||||||||||||||||||||
September 30, 2022 (one record date) | September 30, 2022 (one record date) | 0.3100 | 17,604 | |||||||||||||||||||||||||
Total distributions for the nine months ended September 30, 2022 | Total distributions for the nine months ended September 30, 2022 | $ | 0.8700 | $ | 49,501 |
Six Months Ended June 30, | Year Ended December 31, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Source of Distribution | Source of Distribution | Per Share | Amount | Percentage | Per Share(1) | Amount | Percentage | Per Share | Amount | Percentage | Source of Distribution | Per Share | Amount | Percentage | Per Share(1) | Amount | Percentage | Per Share | Amount | Percentage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | Net investment income | $ | 0.5600 | $ | 31,897 | 100.0 | % | $ | 0.5296 | $ | 30,029 | 100.0 | % | $ | 1.2592 | $ | 71,530 | 100.0 | % | Net investment income | $ | 0.8700 | $ | 49,501 | 100.0 | % | $ | 0.7944 | $ | 45,056 | 100.0 | % | $ | 1.2592 | $ | 71,530 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total distributions | Total distributions | $ | 0.5600 | $ | 31,897 | 100.0 | % | $ | 0.5296 | $ | 30,029 | 100.0 | % | $ | 1.2592 | $ | 71,530 | 100.0 | % | Total distributions | $ | 0.8700 | $ | 49,501 | 100.0 | % | $ | 0.7944 | $ | 45,056 | 100.0 | % | $ | 1.2592 | $ | 71,530 | 100.0 | % |
December 31, 2021 | |||||
Undistributed ordinary income | $ | 7,156 | |||
Other accumulated losses | (59,977) | ||||
Net unrealized depreciation on investments | (76,059) | ||||
Total accumulated losses | $ | (128,880) |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost(1) | Fair Value | Percentage of Investment Portfolio | Cost(1) | Fair Value | Percentage of Investment Portfolio | Cost(1) | Fair Value | Percentage of Investment Portfolio | Cost(1) | Fair Value | Percentage of Investment Portfolio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | 1,732,780 | $ | 1,660,828 | 92.7 | % | $ | 1,564,891 | $ | 1,526,989 | 91.6 | % | Senior secured first lien debt | $ | 1,690,919 | $ | 1,616,352 | 89.8 | % | $ | 1,564,891 | $ | 1,526,989 | 91.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 42,737 | 27,086 | 1.5 | % | 55,455 | 38,583 | 2.3 | % | Senior secured second lien debt | 40,988 | 38,716 | 2.2 | % | 55,455 | 38,583 | 2.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 2,841 | 1,602 | 0.1 | % | 3,885 | 2,998 | 0.2 | % | Collateralized securities and structured products - equity | 2,733 | 1,366 | 0.1 | % | 3,885 | 2,998 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 28,057 | 27,994 | 1.6 | % | 26,777 | 26,616 | 1.6 | % | Unsecured debt | 28,738 | 28,319 | 1.6 | % | 26,777 | 26,616 | 1.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 55,213 | 73,597 | 4.1 | % | 53,379 | 70,936 | 4.3 | % | Equity | 78,795 | 112,491 | 6.3 | % | 53,379 | 70,936 | 4.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,861,628 | 1,791,107 | 100.0 | % | 1,704,387 | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,842,173 | 1,797,244 | 100.0 | % | 1,704,387 | 1,666,122 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 14,345 | 14,345 | 87,917 | 87,917 | Short term investments(2) | 9,804 | 9,804 | 87,917 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,875,973 | $ | 1,805,452 | $ | 1,792,304 | $ | 1,754,039 | Total investments | $ | 1,851,977 | $ | 1,807,048 | $ | 1,792,304 | $ | 1,754,039 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Industry Classification | Industry Classification | Investments at Fair Value | Percentage of Investment Portfolio | Investments at Fair Value | Percentage of Investment Portfolio | Industry Classification | Investments at Fair Value | Percentage of Investment Portfolio | Investments at Fair Value | Percentage of Investment Portfolio | ||||||||||||||||||||||||||||||||||||||||||
Services: Business | Services: Business | $ | 355,881 | 19.9 | % | $ | 240,316 | 14.4 | % | Services: Business | $ | 354,725 | 19.7 | % | $ | 240,316 | 14.4 | % | ||||||||||||||||||||||||||||||||||
Healthcare & Pharmaceuticals | Healthcare & Pharmaceuticals | 228,630 | 12.8 | % | 250,049 | 15.0 | % | Healthcare & Pharmaceuticals | 279,102 | 15.5 | % | 250,049 | 15.0 | % | ||||||||||||||||||||||||||||||||||||||
Media: Diversified & Production | Media: Diversified & Production | 147,620 | 8.2 | % | 139,399 | 8.4 | % | Media: Diversified & Production | 159,236 | 8.9 | % | 139,399 | 8.4 | % | ||||||||||||||||||||||||||||||||||||||
Services: Consumer | Services: Consumer | 135,972 | 7.6 | % | 119,365 | 7.2 | % | Services: Consumer | 117,340 | 6.5 | % | 119,365 | 7.2 | % | ||||||||||||||||||||||||||||||||||||||
Diversified Financials | Diversified Financials | 99,465 | 5.6 | % | 101,032 | 6.1 | % | Diversified Financials | 106,426 | 5.9 | % | 101,032 | 6.1 | % | ||||||||||||||||||||||||||||||||||||||
High Tech Industries | High Tech Industries | 81,364 | 4.5 | % | 65,544 | 3.9 | % | |||||||||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | Media: Advertising, Printing & Publishing | 78,855 | 4.4 | % | 94,610 | 5.7 | % | |||||||||||||||||||||||||||||||||||||||||||||
Chemicals, Plastics & Rubber | Chemicals, Plastics & Rubber | 86,531 | 4.8 | % | 109,860 | 6.6 | % | Chemicals, Plastics & Rubber | 66,927 | 3.7 | % | 109,860 | 6.6 | % | ||||||||||||||||||||||||||||||||||||||
Retail | Retail | 83,579 | 4.7 | % | 56,726 | 3.4 | % | Retail | 64,919 | 3.6 | % | 56,726 | 3.4 | % | ||||||||||||||||||||||||||||||||||||||
High Tech Industries | 82,547 | 4.6 | % | 65,544 | 3.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | 78,936 | 4.4 | % | 94,610 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Energy: Oil & Gas | Energy: Oil & Gas | 60,937 | 3.4 | % | 32,164 | 1.9 | % | Energy: Oil & Gas | 62,688 | 3.5 | % | 32,164 | 1.9 | % | ||||||||||||||||||||||||||||||||||||||
Capital Equipment | 59,982 | 3.3 | % | 82,795 | 5.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Durable | Consumer Goods: Durable | 58,203 | 3.2 | % | 58,124 | 3.5 | % | Consumer Goods: Durable | 61,165 | 3.4 | % | 58,124 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||
Hotel, Gaming & Leisure | Hotel, Gaming & Leisure | 52,426 | 2.9 | % | 50,855 | 3.0 | % | Hotel, Gaming & Leisure | 53,065 | 3.0 | % | 50,855 | 3.0 | % | ||||||||||||||||||||||||||||||||||||||
Beverage, Food & Tobacco | Beverage, Food & Tobacco | 45,822 | 2.6 | % | 49,054 | 2.9 | % | Beverage, Food & Tobacco | 49,641 | 2.8 | % | 49,054 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||
Construction & Building | Construction & Building | 42,060 | 2.3 | % | 27,585 | 1.7 | % | |||||||||||||||||||||||||||||||||||||||||||||
Capital Equipment | Capital Equipment | 41,183 | 2.3 | % | 82,795 | 5.0 | % | |||||||||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | Banking, Finance, Insurance & Real Estate | 39,631 | 2.2 | % | 40,634 | 2.4 | % | |||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 38,531 | 2.2 | % | 38,279 | 2.3 | % | Aerospace & Defense | 38,683 | 2.2 | % | 38,279 | 2.3 | % | ||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | 38,378 | 2.1 | % | 40,634 | 2.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Construction & Building | 37,645 | 2.1 | % | 27,585 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Non-Durable | Consumer Goods: Non-Durable | 34,660 | 1.9 | % | 45,682 | 2.7 | % | Consumer Goods: Non-Durable | 35,647 | 2.0 | % | 45,682 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||
Telecommunications | Telecommunications | 20,066 | 1.1 | % | 24,649 | 1.5 | % | Telecommunications | 18,842 | 1.0 | % | 24,649 | 1.5 | % | ||||||||||||||||||||||||||||||||||||||
Automotive | Automotive | 17,147 | 1.0 | % | 14,367 | 0.9 | % | Automotive | 17,259 | 1.0 | % | 14,367 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||
Metals & Mining | Metals & Mining | 15,775 | 0.9 | % | 10,927 | 0.7 | % | Metals & Mining | 16,202 | 0.9 | % | 10,927 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||
Transportation: Cargo | Transportation: Cargo | 12,374 | 0.7 | % | 14,106 | 0.8 | % | Transportation: Cargo | 12,284 | 0.7 | % | 14,106 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,791,107 | 100.0 | % | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,797,244 | 100.0 | % | 1,666,122 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 14,345 | 87,917 | Short term investments | 9,804 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,805,452 | $ | 1,754,039 | Total investments | $ | 1,807,048 | $ | 1,754,039 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Geographic Dispersion(1) | Geographic Dispersion(1) | Investments at Fair Value | Percentage of Investment Portfolio | Investments at Fair Value | Percentage of Investment Portfolio | Geographic Dispersion(1) | Investments at Fair Value | Percentage of Investment Portfolio | Investments at Fair Value | Percentage of Investment Portfolio | ||||||||||||||||||||||||||||||||||||||||||
United States | United States | $ | 1,780,825 | 99.5 | % | $ | 1,653,615 | 99.3 | % | United States | $ | 1,787,828 | 99.5 | % | $ | 1,653,615 | 99.3 | % | ||||||||||||||||||||||||||||||||||
Canada | Canada | 8,036 | 0.4 | % | 8,739 | 0.5 | % | Canada | 7,414 | 0.4 | % | 8,739 | 0.5 | % | ||||||||||||||||||||||||||||||||||||||
Cayman Islands | Cayman Islands | 1,602 | 0.1 | % | 2,998 | 0.2 | % | Cayman Islands | 1,366 | 0.1 | % | 2,998 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||
Bermuda | Bermuda | 644 | — | 770 | — | Bermuda | 636 | — | 770 | — | ||||||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,791,107 | 100.0 | % | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,797,244 | 100.0 | % | 1,666,122 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 14,345 | 87,917 | Short term investments | 9,804 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,805,452 | $ | 1,754,039 | Total investments | $ | 1,807,048 | $ | 1,754,039 |
Portfolio Company | Portfolio Company | Index Rate(a) | Industry | Principal/ Par Amount/ Units | Cost(b) | Fair Value | Portfolio Company | Interest(a) | Maturity | Industry | Principal/ Par Amount/ Units | Cost(b) | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt | Senior Secured First Lien Debt | Senior Secured First Lien Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc., S+900, 1.00% SOFR Floor, 2/14/2025 | 1 Month SOFR | Services: Business | $ | 1,200 | $ | 1,111 | $ | 1,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Tree Service, LLC, S+8.50%, 1.00% SOFR Floor, 6/17/2027 | 3 Month SOFR | Construction & Building | 500 | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future Pak, LLC, L+800, 2.00% LIBOR Floor, 7/2/2024 | 1 Month LIBOR | Healthcare & Pharmaceuticals | 1,668 | 1,650 | 1,650 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc.(g) | Berlitz Holdings, Inc.(g) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | $ | 1,200 | $ | 1,118 | $ | 1,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Tree Service, LLC(h) | Community Tree Service, LLC(h) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 500 | 500 | 498 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future Pak, LLC(e) | Future Pak, LLC(e) | L+800, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 1,559 | 1,543 | 1,524 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | Total Senior Secured First Lien Debt | 3,261 | 3,281 | Total Senior Secured First Lien Debt | 3,161 | 3,165 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Access CIG, LLC, L+775, 0.00% LIBOR Floor, 2/27/2026 | 1 Month LIBOR | Services: Business | 7,250 | 7,217 | 6,960 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc., L+1250, 1.00% LIBOR Floor, 8/8/2023 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 12,967 | 12,684 | 12,561 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton Superior Corp., L+700, 2.00% LIBOR Floor, 12/4/2024 | 1 Month LIBOR | Construction & Building | 1,470 | 1,471 | 1,462 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MedPlast Holdings, Inc., L+775, 0.00% LIBOR Floor, 7/2/2026 | 1 Month LIBOR | Healthcare & Pharmaceuticals | 6,750 | 6,072 | 6,283 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zest Acquisition Corp., L+750, 1.00% LIBOR Floor, 3/14/2026 | 1 Month LIBOR | Healthcare & Pharmaceuticals | 15,000 | 14,802 | 14,025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Access CIG, LLC(f) | Access CIG, LLC(f) | L+775, 0.00% LIBOR Floor | 2/27/2026 | Services: Business | 7,250 | 7,219 | 6,915 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton Superior Corp.(e) | Dayton Superior Corp.(e) | L+700, 2.00% LIBOR Floor | 12/4/2024 | Construction & Building | 1,014 | 1,015 | 1,008 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MedPlast Holdings, Inc.(e) | MedPlast Holdings, Inc.(e) | L+775, 0.00% LIBOR Floor | 7/2/2026 | Healthcare & Pharmaceuticals | 6,750 | 6,103 | 6,218 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zest Acquisition Corp.(e) | Zest Acquisition Corp.(e) | L+750, 1.00% LIBOR Floor | 3/14/2026 | Healthcare & Pharmaceuticals | 15,000 | 14,810 | 13,875 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | Total Senior Secured Second Lien Debt | 42,246 | 41,291 | Total Senior Secured Second Lien Debt | 29,147 | 28,016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity | Collateralized Securities and Structured Products - Equity | Collateralized Securities and Structured Products - Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, 11.84% Estimated Yield, 2/2/2026 | (c) | Diversified Financials | 10,000 | 9,918 | 9,710 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c) | Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c) | 11.84% Estimated Yield | 2/2/2026 | Diversified Financials | 10,000 | 9,874 | 9,579 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | Total Collateralized Securities and Structured Products - Equity | 9,918 | 9,710 | Total Collateralized Securities and Structured Products - Equity | 9,874 | 9,579 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Clinical Solutions LLC, Class A Membership Interests(d) | American Clinical Solutions LLC, Class A Membership Interests(d) | Healthcare & Pharmaceuticals | 6,030,384 Units | 5,200 | 6,030 | American Clinical Solutions LLC, Class A Membership Interests(d) | Healthcare & Pharmaceuticals | 6,030,384 Units | 5,200 | 4,583 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Media: Diversified & Production | 1,469 Units | 486 | 1,792 | Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Media: Diversified & Production | 1,469 Units | 486 | 1,836 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Media: Diversified & Production | 255 Units | — | 312 | Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Media: Diversified & Production | 255 Units | — | 320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Media: Diversified & Production | 4,746 Units | — | 1,867 | Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Media: Diversified & Production | 4,746 Units | — | 999 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | Diversified Financials | N/A | 11,628 | 11,255 | BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | Diversified Financials | N/A | 11,628 | 11,177 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings, Inc., Warrants(d) | Healthcare & Pharmaceuticals | 388 Units | 500 | 370 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings, Inc., Common Stock(d) | Carestream Health Holdings, Inc., Common Stock(d) | Healthcare & Pharmaceuticals | 613,262 Units | 21,759 | 21,759 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | Healthcare & Pharmaceuticals | 2,727,273 Units | 7,727 | 8,155 | CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | Healthcare & Pharmaceuticals | 2,727,273 Units | 7,809 | 8,495 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CTS Ultimate Holdings LLC, Class A Preferred Units(d) | CTS Ultimate Holdings LLC, Class A Preferred Units(d) | Construction & Building | 3,578,701 Units | 1,000 | 1,000 | CTS Ultimate Holdings LLC, Class A Preferred Units(d) | Construction & Building | 3,578,701 Units | 1,000 | 930 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton HoldCo, LLC, Membership Units(d) | Dayton HoldCo, LLC, Membership Units(d) | Construction & Building | 37,264 Units | 8,400 | 13,046 | Dayton HoldCo, LLC, Membership Units(d) | Construction & Building | 37,264 Units | 8,400 | 15,345 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HDNet Holdco LLC, Preferred Unit Call Option(d) | HDNet Holdco LLC, Preferred Unit Call Option(d) | Media: Diversified & Production | 1 Unit | — | 312 | HDNet Holdco LLC, Preferred Unit Call Option(d) | Media: Diversified & Production | 1 Unit | — | 206 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | Capital Equipment | 2,000,000 Units | 2,042 | 1,690 | HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | Capital Equipment | 2,000,000 Units | 2,062 | 1,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings GP LLC, Common Units(d) | Language Education Holdings GP LLC, Common Units(d) | Services: Business | 133,333 Units | — | — | Language Education Holdings GP LLC, Common Units(d) | Services: Business | 133,333 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings LP, Ordinary Common Units(d) | Language Education Holdings LP, Ordinary Common Units(d) | Services: Business | 133,333 Units | 300 | 323 | Language Education Holdings LP, Ordinary Common Units(d) | Services: Business | 133,333 Units | 300 | 364 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Skillsoft Corp., Class A Common Stock(d) | Skillsoft Corp., Class A Common Stock(d) | High Tech Industries | 243,425 Units | 2,000 | 857 | Skillsoft Corp., Class A Common Stock(d) | High Tech Industries | 243,425 Units | 2,000 | 446 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., Warrants(d) | Spinal USA, Inc. / Precision Medical Inc., Warrants(d) | Healthcare & Pharmaceuticals | 20,667,324 Units | — | — | Spinal USA, Inc. / Precision Medical Inc., Warrants(d) | Healthcare & Pharmaceuticals | 20,667,324 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tenere Inc., Warrants(d) | Capital Equipment | N/A | 1,166 | 3,628 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 40,449 | 50,637 | Total Equity | 60,644 | 68,060 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS | TOTAL INVESTMENTS | $ | 95,874 | $ | 104,919 | TOTAL INVESTMENTS | $ | 102,826 | $ | 108,820 |
Portfolio Company | Portfolio Company | Index Rate(a) | Industry | Principal/ Par Amount/ Units | Cost(b) | Fair Value | Portfolio Company | Interest(a) | Maturity | Industry | Principal/ Par Amount/ Units | Cost(b) | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Access CIG, LLC, L+775, 0.00% LIBOR Floor, 2/27/2026 | 1 Month LIBOR | Services: Business | $ | 7,250 | $ | 7,214 | $ | 7,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc., L+1250, 1.00% LIBOR Floor, 8/8/2023 | 3 Month LIBOR | Healthcare & Pharmaceuticals | 12,460 | 12,057 | 12,242 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton Superior Corp., L+700, 2.00% LIBOR Floor, 12/4/2024 | 3 Month LIBOR | Construction & Building | 1,477 | 1,479 | 1,478 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MedPlast Holdings, Inc., L+775, 0.00% LIBOR Floor, 7/2/2026 | 1 Month LIBOR | Healthcare & Pharmaceuticals | 6,750 | 6,004 | 6,446 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ministry Brands, LLC, L+925, 1.00% LIBOR Floor, 6/2/2023 | 1 Month LIBOR | Services: Business | 7,000 | 6,983 | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zest Acquisition Corp., L+750, 1.00% LIBOR Floor, 3/14/2026 | 1 Month LIBOR | Healthcare & Pharmaceuticals | 15,000 | 14,776 | 14,925 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Access CIG, LLC(e) | Access CIG, LLC(e) | L+775, 0.00% LIBOR Floor | 2/27/2026 | Services: Business | $ | 7,250 | $ | 7,214 | $ | 7,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc.(f) | Carestream Health, Inc.(f) | L+1250, 1.00% LIBOR Floor | 8/8/2023 | Healthcare & Pharmaceuticals | 12,460 | 12,057 | 12,242 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton Superior Corp.(f) | Dayton Superior Corp.(f) | L+700, 2.00% LIBOR Floor | 12/4/2024 | Construction & Building | 1,477 | 1,479 | 1,478 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MedPlast Holdings, Inc.(e) | MedPlast Holdings, Inc.(e) | L+775, 0.00% LIBOR Floor | 7/2/2026 | Healthcare & Pharmaceuticals | 6,750 | 6,004 | 6,446 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ministry Brands, LLC(e) | Ministry Brands, LLC(e) | L+925, 1.00% LIBOR Floor | 6/2/2023 | Services: Business | 7,000 | 6,983 | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zest Acquisition Corp.(e) | Zest Acquisition Corp.(e) | L+750, 1.00% LIBOR Floor | 3/14/2026 | Healthcare & Pharmaceuticals | 15,000 | 14,776 | 14,925 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | Total Senior Secured Second Lien Debt | 48,513 | 49,347 | Total Senior Secured Second Lien Debt | 48,513 | 49,347 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity | Collateralized Securities and Structured Products - Equity | Collateralized Securities and Structured Products - Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, 11.84% Estimated Yield, 2/2/2026 | (c) | Diversified Financials | 10,000 | 9,997 | 9,856 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c) | Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c) | 11.84% Estimated Yield | 2/2/2026 | Diversified Financials | 10,000 | 9,997 | 9,856 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | Total Collateralized Securities and Structured Products - Equity | 9,997 | 9,856 | Total Collateralized Securities and Structured Products - Equity | 9,997 | 9,856 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Clinical Solutions LLC, Class A Membership Interests(d) | American Clinical Solutions LLC, Class A Membership Interests(d) | Healthcare & Pharmaceuticals | 6,030,384 Units | 5,200 | 5,729 | American Clinical Solutions LLC, Class A Membership Interests(d) | Healthcare & Pharmaceuticals | 6,030,384 Units | 5,200 | 5,729 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Media: Diversified & Production | 1,469 Units | 486 | 1,704 | Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Media: Diversified & Production | 1,469 Units | 486 | 1,704 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Media: Diversified & Production | 255 Units | — | 297 | Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Media: Diversified & Production | 255 Units | — | 297 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Media: Diversified & Production | 4,746 Units | — | 2,572 | Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Media: Diversified & Production | 4,746 Units | — | 2,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | Diversified Financials | N/A | 11,118 | 11,224 | BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | Diversified Financials | N/A | 11,118 | 11,224 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings, Inc., Warrants(d) | Carestream Health Holdings, Inc., Warrants(d) | Healthcare & Pharmaceuticals | 388 Units | 500 | 801 | Carestream Health Holdings, Inc., Warrants(d) | Healthcare & Pharmaceuticals | 388 Units | 500 | 801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | Healthcare & Pharmaceuticals | 2,727,273 Units | 7,564 | 7,964 | CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | Healthcare & Pharmaceuticals | 2,727,273 Units | 7,564 | 7,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton HoldCo, LLC, Membership Units(d) | Dayton HoldCo, LLC, Membership Units(d) | Construction & Building | 37,264 Units | 8,400 | 11,166 | Dayton HoldCo, LLC, Membership Units(d) | Construction & Building | 37,264 Units | 8,400 | 11,166 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HDNet Holdco LLC, Preferred Unit Call Option(d) | HDNet Holdco LLC, Preferred Unit Call Option(d) | Media: Diversified & Production | 1 Unit | — | — | HDNet Holdco LLC, Preferred Unit Call Option(d) | Media: Diversified & Production | 1 Unit | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | Capital Equipment | 2,000,000 Units | 2,002 | 2,021 | HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | Capital Equipment | 2,000,000 Units | 2,002 | 2,021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Skillsoft Corp., Class A Common Stock(d) | Skillsoft Corp., Class A Common Stock(d) | High Tech Industries | 243,425 Units | 2,000 | 2,227 | Skillsoft Corp., Class A Common Stock(d) | High Tech Industries | 243,425 Units | 2,000 | 2,227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc., Warrants(d) | Spinal USA, Inc. / Precision Medical Inc., Warrants(d) | Healthcare & Pharmaceuticals | 20,667,324 Units | — | — | Spinal USA, Inc. / Precision Medical Inc., Warrants(d) | Healthcare & Pharmaceuticals | 20,667,324 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tenere Inc., Warrants(d) | Tenere Inc., Warrants(d) | Capital Equipment | N/A | 1,166 | 1,235 | Tenere Inc., Warrants(d) | Capital Equipment | N/A | 1,166 | 1,235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 38,436 | 46,940 | Total Equity | 38,436 | 46,940 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS | TOTAL INVESTMENTS | $ | 96,946 | $ | 106,143 | TOTAL INVESTMENTS | $ | 96,946 | $ | 106,143 |
Selected Balance Sheet Information: | June 30, 2022 | December 31, 2021 | ||||||||||||
Investments, at fair value (amortized cost of $95,874 and $96,946, respectively) | $ | 104,919 | $ | 106,143 | ||||||||||
Cash and other assets | 2,949 | 1,776 | ||||||||||||
Dividend receivable on investments | 273 | 265 | ||||||||||||
Interest receivable on investments | 316 | 109 | ||||||||||||
Total assets | $ | 108,457 | $ | 108,293 | ||||||||||
Senior secured notes (net of unamortized debt issuance costs of $106 and $0, respectively) | $ | 73,158 | $ | 72,504 | ||||||||||
Other liabilities | 2,197 | 735 | ||||||||||||
Total liabilities | 75,355 | 73,239 | ||||||||||||
Members' capital | 33,102 | 35,054 | ||||||||||||
Total liabilities and members' capital | $ | 108,457 | $ | 108,293 |
Selected Balance Sheet Information: | September 30, 2022 | December 31, 2021 | ||||||||||||
Investments, at fair value (amortized cost of $102,826 and $96,946, respectively) | $ | 108,820 | $ | 106,143 | ||||||||||
Cash and other assets | 5,684 | 1,776 | ||||||||||||
Dividend receivable on investments | 310 | 265 | ||||||||||||
Interest receivable on investments | 301 | 109 | ||||||||||||
Total assets | $ | 115,115 | $ | 108,293 | ||||||||||
Senior secured notes (net of unamortized debt issuance costs of $100 and $0, respectively) | $ | 73,164 | $ | 72,504 | ||||||||||
Other liabilities | 369 | 735 | ||||||||||||
Total liabilities | 73,533 | 73,239 | ||||||||||||
Members' capital | 41,582 | 35,054 | ||||||||||||
Total liabilities and members' capital | $ | 115,115 | $ | 108,293 |
Selected Statement of Operations Information: | Selected Statement of Operations Information: | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | Period From December 21, 2021 (Commencement of Operations) Through December 31, 2021 | Selected Statement of Operations Information: | Three Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | Period From December 21, 2021 (Commencement of Operations) Through December 31, 2021 | ||||||||||||||||||||||||||
Total revenues | Total revenues | $ | 1,839 | $ | 3,723 | $ | 688 | Total revenues | $ | 4,237 | $ | 7,960 | $ | 688 | ||||||||||||||||||||
Total expenses | Total expenses | 2,802 | 5,522 | 800 | Total expenses | 2,860 | 8,382 | 800 | ||||||||||||||||||||||||||
Net realized gain on investments | Net realized gain on investments | 10,153 | 10,153 | — | ||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation on investments | Net change in unrealized (depreciation) appreciation on investments | (695) | (153) | 9,197 | Net change in unrealized (depreciation) appreciation on investments | (3,050) | (3,203) | 9,197 | ||||||||||||||||||||||||||
Net (decrease) increase in net assets | $ | (1,658) | $ | (1,952) | $ | 9,085 | ||||||||||||||||||||||||||||
Net increase in net assets | Net increase in net assets | $ | 8,480 | $ | 6,528 | $ | 9,085 |
Six Months Ended June 30, | Year Ended December 31, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
Selected Statement of Operations Information: | Selected Statement of Operations Information: | 2022 | 2021 | 2021 | Selected Statement of Operations Information: | 2022 | 2021 | 2021 | ||||||||||||||||||||||||||||||||||||||
Total revenues | Total revenues | $ | — | $ | 29 | $ | 29 | Total revenues | $ | — | $ | 29 | $ | 29 | ||||||||||||||||||||||||||||||||
Total expenses | Total expenses | — | 29 | 29 | Total expenses | — | 29 | 29 | ||||||||||||||||||||||||||||||||||||||
Net increase in net assets | Net increase in net assets | $ | — | $ | — | $ | — | Net increase in net assets | $ | — | $ | — | $ | — |
Financing Arrangement | Financing Arrangement | Type of Financing Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | Financing Arrangement | Type of Financing Arrangement | Rate | Amount Outstanding | Amount Available | Maturity Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||
JPM Credit Facility | JPM Credit Facility | Term Loan Credit Facility | L+3.10% | $ | 550,000 | $ | 25,000 | May 15, 2024 | JPM Credit Facility | Term Loan Credit Facility | L+3.10% | $ | 550,000 | $ | 25,000 | May 15, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||
SOFR+3.10% | 50,000 | 50,000 | SOFR+3.10% | 60,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2026 Notes(1) | 2026 Notes(1) | Note Purchase Agreement | 4.50% | 125,000 | — | February 11, 2026 | 2026 Notes(1) | Note Purchase Agreement | 4.50% | 125,000 | — | February 11, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
UBS Facility | UBS Facility | Repurchase Agreement | L+3.375% | 142,500 | 7,500 | November 19, 2023 | UBS Facility | Repurchase Agreement | L+3.375% | 142,500 | 7,500 | November 19, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 More Term Loan | 2022 More Term Loan | Term Loan Facility Agreement | SOFR+3.50% | 50,000 | — | April 27, 2027 | 2022 More Term Loan | Term Loan Facility Agreement | SOFR+3.50% | 50,000 | — | April 27, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 More Term Loan(2) | 2021 More Term Loan(2) | Term Loan Facility Agreement | 5.20% | 30,000 | — | September 30, 2024 | 2021 More Term Loan(2) | Term Loan Facility Agreement | 5.20% | 30,000 | — | September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 947,500 | $ | 82,500 | $ | 957,500 | $ | 72,500 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 6,056 | $ | 4,275 | $ | 10,763 | $ | 9,093 | $ | 18,299 | Stated interest expense | $ | 7,906 | $ | 4,532 | $ | 18,669 | $ | 13,625 | $ | 18,299 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 571 | 487 | 1,061 | 1,164 | 2,119 | Amortization of deferred financing costs | 576 | 464 | 1,637 | 1,628 | 2,119 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-usage fee | Non-usage fee | 193 | 149 | 263 | 368 | 457 | Non-usage fee | 188 | 64 | 451 | 432 | 457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 6,820 | $ | 4,911 | $ | 12,087 | $ | 10,625 | $ | 20,875 | Total interest expense | $ | 8,670 | $ | 5,060 | $ | 20,757 | $ | 15,685 | $ | 20,875 | ||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 4.12 | % | 3.40 | % | 3.81 | % | 3.48 | % | 3.36 | % | Weighted average interest rate(1) | 5.32 | % | 3.28 | % | 4.33 | % | 3.41 | % | 3.36 | % | ||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 598,571 | $ | 515,934 | $ | 575,083 | $ | 540,470 | $ | 549,110 | Average borrowings | $ | 601,739 | $ | 550,000 | $ | 584,066 | $ | 543,681 | $ | 549,110 |
Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | For the Period From February 11, 2021 Through June 30, 2021 | For the Period From February 11, 2021 Through December 31, 2021 | Three Months Ended September 30, 2022 | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2022 | For the Period From February 11, 2021 Through September 30, 2021 | For the Period From February 11, 2021 Through December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 1,422 | $ | 1,422 | $ | 2,828 | $ | 2,188 | $ | 5,062 | Stated interest expense | $ | 1,406 | $ | 1,437 | $ | 4,234 | $ | 3,625 | $ | 5,062 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 133 | 132 | 264 | 204 | 473 | Amortization of deferred financing costs | 135 | 135 | 399 | 339 | 473 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 1,555 | $ | 1,554 | $ | 3,092 | $ | 2,392 | $ | 5,535 | Total interest expense | $ | 1,541 | $ | 1,572 | $ | 4,633 | $ | 3,964 | $ | 5,535 | ||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 4.50 | % | 4.50 | % | 4.50 | % | 4.50 | % | 4.50 | % | Weighted average interest rate(1) | 4.50 | % | 4.50 | % | 4.50 | % | 4.50 | % | 4.50 | % | ||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 125,000 | $ | 125,000 | $ | 125,000 | $ | 125,000 | $ | 125,000 | Average borrowings | $ | 125,000 | $ | 125,000 | $ | 125,000 | $ | 125,000 | $ | 125,000 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 1,533 | $ | 893 | $ | 2,680 | $ | 1,795 | $ | 3,731 | Stated interest expense | $ | 2,006 | $ | 1,000 | $ | 4,686 | $ | 2,795 | $ | 3,731 | ||||||||||||||||||||||||||||||||||||||||||
Non-usage fee | Non-usage fee | 21 | 95 | 68 | 189 | 349 | Non-usage fee | 14 | 74 | 82 | 263 | 349 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 1,554 | $ | 988 | $ | 2,748 | $ | 1,984 | $ | 4,080 | Total interest expense | $ | 2,020 | $ | 1,074 | $ | 4,768 | $ | 3,058 | $ | 4,080 | ||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 4.42 | % | 3.98 | % | 4.14 | % | 3.94 | % | 3.86 | % | Weighted average interest rate(1) | 5.58 | % | 3.78 | % | 4.64 | % | 3.88 | % | 3.86 | % | ||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 139,038 | $ | 100,000 | $ | 132,058 | $ | 100,000 | $ | 104,110 | Average borrowings | $ | 142,500 | $ | 111,413 | $ | 135,577 | $ | 103,846 | $ | 104,110 |
Three Months Ended September 30, 2022 | For the Period From April 27, 2022 Through September 30, 2022 | |||||||||||||||||||
Stated interest expense | $ | 715 | $ | 1,125 | ||||||||||||||||
Amortization of deferred financing costs | 52 | 88 | ||||||||||||||||||
Total interest expense | $ | 767 | $ | 1,213 | ||||||||||||||||
Weighted average interest rate(1) | 5.59 | % | 5.16 | % | ||||||||||||||||
Average borrowings | $ | 50,000 | $ | 50,000 |
Three Months Ended June 30, 2022 | For the Period From April 14, 2021 Through June 30, 2021 | Six Months Ended June 30, 2022 | For the Period From April 14, 2021 Through December 31, 2021 | Three Months Ended September 30, 2022 | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2022 | For the Period From April 14, 2021 Through September 30, 2021 | For the Period From April 14, 2021 Through December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 394 | $ | 312 | $ | 784 | $ | 1,109 | Stated interest expense | $ | 399 | $ | 399 | $ | 1,183 | $ | 711 | $ | 1,109 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 72 | 63 | 143 | 208 | Amortization of deferred financing costs | 72 | 71 | 215 | 134 | 208 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 466 | $ | 375 | $ | 927 | $ | 1,317 | Total interest expense | $ | 471 | $ | 470 | $ | 1,398 | $ | 845 | $ | 1,317 | ||||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 5.20 | % | 5.20 | % | 5.20 | % | 5.20 | % | Weighted average interest rate(1) | 5.20 | % | 5.20 | % | 5.20 | % | 5.20 | % | 5.20 | % | ||||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | Average borrowings | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 |
June 30, 2022(1) | December 31, 2021(2) | September 30, 2022(1) | December 31, 2021(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | — | $ | — | $ | 1,660,828 | $ | 1,660,828 | $ | — | $ | — | $ | 1,526,989 | $ | 1,526,989 | Senior secured first lien debt | $ | — | $ | — | $ | 1,616,352 | $ | 1,616,352 | $ | — | $ | — | $ | 1,526,989 | $ | 1,526,989 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | — | — | 27,086 | 27,086 | — | — | 38,583 | 38,583 | Senior secured second lien debt | — | — | 38,716 | 38,716 | — | — | 38,583 | 38,583 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | — | — | 1,602 | 1,602 | — | — | 2,998 | 2,998 | Collateralized securities and structured products - equity | — | — | 1,366 | 1,366 | — | — | 2,998 | 2,998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | — | — | 27,994 | 27,994 | — | — | 26,616 | 26,616 | Unsecured debt | — | — | 28,319 | 28,319 | — | — | 26,616 | 26,616 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 2,841 | — | 42,885 | 45,726 | 3,404 | — | 37,736 | 41,140 | Equity | 2,333 | — | 74,989 | 77,322 | 3,404 | — | 37,736 | 41,140 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 14,345 | — | — | 14,345 | 87,917 | — | — | 87,917 | Short term investments | 9,804 | — | — | 9,804 | 87,917 | — | — | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Investments | Total Investments | $ | 17,186 | $ | — | $ | 1,760,395 | $ | 1,777,581 | $ | 91,321 | $ | — | $ | 1,632,922 | $ | 1,724,243 | Total Investments | $ | 12,137 | $ | — | $ | 1,759,742 | $ | 1,771,879 | $ | 91,321 | $ | — | $ | 1,632,922 | $ | 1,724,243 |
Three Months Ended June 30, 2022 | Three Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance, March 31, 2022 | $ | 1,597,364 | $ | 36,875 | $ | 2,632 | $ | 27,280 | $ | 42,405 | $ | 1,706,556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance, June 30, 2022 | Beginning balance, June 30, 2022 | $ | 1,660,828 | $ | 27,086 | $ | 1,602 | $ | 27,994 | $ | 42,885 | $ | 1,760,395 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments purchased(2) | Investments purchased(2) | 175,707 | 1,836 | — | 650 | 1,008 | 179,201 | Investments purchased(2) | 142,620 | 18,109 | — | 677 | 32,148 | 193,554 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain | (34) | 10 | — | — | 204 | 180 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) | Net realized gain (loss) | 10,452 | (19,339) | 24 | — | (8,303) | (17,166) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation | Net change in unrealized (depreciation) appreciation | (21,144) | 3,021 | (176) | 61 | (229) | (18,467) | Net change in unrealized (depreciation) appreciation | (2,615) | 13,379 | (128) | (356) | 8,522 | 18,802 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of discount | Accretion of discount | 2,131 | 344 | — | 3 | — | 2,478 | Accretion of discount | 4,170 | 17 | — | 4 | — | 4,191 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (93,196) | (15,000) | (854) | — | (503) | (109,553) | Sales and principal repayments | (199,103) | (536) | (132) | — | (263) | (200,034) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, June 30, 2022 | $ | 1,660,828 | $ | 27,086 | $ | 1,602 | $ | 27,994 | $ | 42,885 | $ | 1,760,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1) | $ | (21,519) | $ | 525 | $ | (176) | $ | 61 | $ | (229) | $ | (21,338) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, September 30, 2022 | Ending balance, September 30, 2022 | $ | 1,616,352 | $ | 38,716 | $ | 1,366 | $ | 28,319 | $ | 74,989 | $ | 1,759,742 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of September 30, 2022(1) | Change in net unrealized (depreciation) appreciation on investments still held as of September 30, 2022(1) | $ | (7,793) | $ | (3) | $ | (128) | $ | (356) | $ | 205 | $ | (8,075) |
Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance, December 31, 2021 | Beginning balance, December 31, 2021 | $ | 1,526,989 | $ | 38,583 | $ | 2,998 | $ | 26,616 | $ | 37,736 | $ | 1,632,922 | Beginning balance, December 31, 2021 | $ | 1,526,989 | $ | 38,583 | $ | 2,998 | $ | 26,616 | $ | 37,736 | $ | 1,632,922 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments purchased(2) | Investments purchased(2) | 317,499 | 1,836 | — | 1,273 | 2,133 | 322,741 | Investments purchased(2) | 460,119 | 19,945 | — | 1,950 | 34,281 | 516,295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain | (107) | 14 | — | — | 204 | 111 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) | Net realized gain (loss) | 10,345 | (19,325) | 24 | — | (8,099) | (17,055) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation | Net change in unrealized (depreciation) appreciation | (34,050) | 1,221 | (352) | 98 | 3,315 | (29,768) | Net change in unrealized (depreciation) appreciation | (36,665) | 14,600 | (480) | (258) | 11,837 | (10,966) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of discount | Accretion of discount | 4,535 | 432 | — | 7 | — | 4,974 | Accretion of discount | 8,705 | 449 | — | 11 | — | 9,165 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (154,038) | (15,000) | (1,044) | — | (503) | (170,585) | Sales and principal repayments | (353,141) | (15,536) | (1,176) | — | (766) | (370,619) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, June 30, 2022 | $ | 1,660,828 | $ | 27,086 | $ | 1,602 | $ | 27,994 | $ | 42,885 | $ | 1,760,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1) | $ | (34,992) | $ | 873 | $ | (352) | $ | 98 | $ | 3,315 | $ | (31,058) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, September 30, 2022 | Ending balance, September 30, 2022 | $ | 1,616,352 | $ | 38,716 | $ | 1,366 | $ | 28,319 | $ | 74,989 | $ | 1,759,742 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of September 30, 2022(1) | Change in net unrealized (depreciation) appreciation on investments still held as of September 30, 2022(1) | $ | (43,281) | $ | 798 | $ | (480) | $ | (257) | $ | 3,442 | $ | (39,778) |
Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | ||||||||||||||||||||||||||||||||||||
Beginning balance, March 31, 2021 | $ | 1,255,426 | $ | 154,626 | $ | 13,840 | $ | 5,493 | $ | 91,409 | $ | 1,520,794 | |||||||||||||||||||||||||||||
Investments purchased(2)(3) | 224,407 | 614 | — | — | 2,843 | 227,864 | |||||||||||||||||||||||||||||||||||
Net realized (loss) gain | (341) | — | — | — | 805 | 464 | |||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 4,756 | (877) | 920 | 11 | 3,362 | 8,172 | |||||||||||||||||||||||||||||||||||
Accretion of discount | 2,555 | 174 | — | 4 | — | 2,733 | |||||||||||||||||||||||||||||||||||
Sales and principal repayments(3) | (79,579) | (12,827) | (665) | — | (6,062) | (99,133) | |||||||||||||||||||||||||||||||||||
Ending balance, June 30, 2021 | $ | 1,407,224 | $ | 141,710 | $ | 14,095 | $ | 5,508 | $ | 92,357 | $ | 1,660,894 | |||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments still held as of June 30, 2021(1) | $ | 6,482 | $ | (815) | $ | 920 | $ | 11 | $ | 4,076 | $ | 10,674 |
Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | ||||||||||||||||||||||||||||||||||||
Beginning balance, June 30, 2021 | $ | 1,407,224 | $ | 141,710 | $ | 14,095 | $ | 5,508 | $ | 92,357 | $ | 1,660,894 | |||||||||||||||||||||||||||||
Investments purchased | 167,208 | 244 | — | — | 3,642 | 171,094 | |||||||||||||||||||||||||||||||||||
Net realized gain (loss) | 563 | 619 | (309) | — | 18,856 | 19,729 | |||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation | (2,075) | (461) | 126 | 39 | (12,187) | (14,558) | |||||||||||||||||||||||||||||||||||
Accretion of discount | 3,185 | 171 | — | 4 | — | 3,360 | |||||||||||||||||||||||||||||||||||
Sales and principal repayments(1) | (147,549) | (42,784) | (900) | — | (35,150) | (226,383) | |||||||||||||||||||||||||||||||||||
Ending balance, September 30, 2021 | $ | 1,428,556 | $ | 99,499 | $ | 13,012 | $ | 5,551 | $ | 67,518 | $ | 1,614,136 | |||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of September 30, 2021(2) | $ | (430) | $ | 140 | $ | (536) | $ | 39 | $ | 10,145 | $ | 9,358 |
Six Months Ended June 30, 2021 | Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | Senior Secured First Lien Debt | Senior Secured Second Lien Debt | Collateralized Securities and Structured Products - Equity | Unsecured Debt | Equity | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance, December 31, 2020 | Beginning balance, December 31, 2020 | $ | 1,223,268 | $ | 151,506 | $ | 12,131 | $ | 5,464 | $ | 75,913 | $ | 1,468,282 | Beginning balance, December 31, 2020 | $ | 1,223,268 | $ | 151,506 | $ | 12,131 | $ | 5,464 | $ | 75,913 | $ | 1,468,282 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments purchased | Investments purchased | 413,433 | 1,641 | — | — | 4,141 | 419,215 | Investments purchased | 580,641 | 1,885 | — | — | 7,783 | 590,309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain | Net realized (loss) gain | (1,414) | — | — | — | 805 | (609) | Net realized (loss) gain | (851) | 619 | (309) | — | 19,661 | 19,120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation | Net change in unrealized appreciation | 19,674 | 1,053 | 2,782 | 37 | 17,560 | 41,106 | Net change in unrealized appreciation | 17,599 | 592 | 2,908 | 76 | 5,373 | 26,548 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of discount | Accretion of discount | 5,557 | 341 | — | 7 | — | 5,905 | Accretion of discount | 8,742 | 512 | — | 11 | — | 9,265 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (253,294) | (12,831) | (818) | — | (6,062) | (273,005) | Sales and principal repayments | (400,843) | (55,615) | (1,718) | — | (41,212) | (499,388) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, June 30, 2021 | $ | 1,407,224 | $ | 141,710 | $ | 14,095 | $ | 5,508 | $ | 92,357 | $ | 1,660,894 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments still held as of June 30, 2021(1) | $ | 17,778 | $ | (218) | $ | 2,782 | $ | 37 | $ | 18,507 | $ | 38,886 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, September 30, 2021 | Ending balance, September 30, 2021 | $ | 1,428,556 | $ | 99,499 | $ | 13,012 | $ | 5,551 | $ | 67,518 | $ | 1,614,136 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments still held as of September 30, 2021(2) | Change in net unrealized appreciation (depreciation) on investments still held as of September 30, 2021(2) | $ | 14,459 | $ | (880) | $ | 1,962 | $ | 76 | $ | 19,858 | $ | 35,475 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation Techniques/ Methodologies | Unobservable Inputs | Range | Weighted Average(1) | Fair Value | Valuation Techniques/ Methodologies | Unobservable Inputs | Range | Weighted Average(1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | 1,510,246 | Discounted Cash Flow | Discount Rates | 6.5% | — | 31.0% | 12.6% | Senior secured first lien debt | $ | 1,494,773 | Discounted Cash Flow | Discount Rates | 6.5% | — | 32.0% | 13.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
100,757 | Broker Quotes | Broker Quotes | N/A | N/A | 82,525 | Broker Quotes | Broker Quotes | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
18,504 | Market Comparable Approach | EBITDA Multiple | 4.75x | — | 29.00x | 28.46x | 14,330 | Market Comparable Approach | Revenue Multiple | 0.27x | — | 1.65x | 1.47x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
17,245 | Revenue Multiple | 0.38x | — | 1.60x | 1.34x | 4,699 | $ per kW | td31.85 | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5,173 | $ per kW | $142 | N/A | 3,610 | EBITDA Multiple | 3.00x | — | 4.75x | 3.20x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8,903 | Other(2) | Other(2) | N/A | N/A | 16,415 | Other(2) | Other(2) | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 27,086 | Discounted Cash Flow | Discount Rates | 10.3% | — | 20.5% | 16.0% | Senior secured second lien debt | 38,716 | Discounted Cash Flow | Discount Rates | 8.8% | — | 20.8% | 16.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 1,602 | Discounted Cash Flow | Discount Rates | 19.0% | N/A | Collateralized securities and structured products - equity | 1,366 | Discounted Cash Flow | Discount Rates | 21.0% | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 27,994 | Discounted Cash Flow | Discount Rates | 13.4% | — | 16.0% | 14.0% | Unsecured debt | 28,319 | Discounted Cash Flow | Discount Rates | 13.7% | — | 16.5% | 14.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 18,979 | Market Comparable Approach | $ per kW | $387.5 | N/A | Equity | 34,188 | Market Comparable Approach | EBITDA Multiple | 3.75x | — | 14.55x | 6.70x | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13,273 | Revenue Multiple | 0.13x | — | 2.00x | 0.96x | 22,203 | $ per kW | $387.5 | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9,370 | EBITDA Multiple | 3.75x | — | 29.00x | 9.98x | 17,169 | Revenue Multiple | 0.13x | — | 5.25x | 2.70x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,169 | Broker Quotes | Broker Quotes | N/A | N/A | 1,279 | Broker Quotes | Broker Quotes | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
94 | Options Pricing Model | Expected Volatility | 61% | — | 100% | 99% | 150 | Options Pricing Model | Expected Volatility | 61.1% | — | 90.0% | 89.4% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,760,395 | Total | $ | 1,759,742 |
December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation Techniques/ Methodologies | Unobservable Inputs | Range | Weighted Average(1) | ||||||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | $ | 1,292,635 | Discounted Cash Flow | Discount Rates | 5.5% | — | 24.7% | 9.9% | ||||||||||||||||||||||||||||||||||||
183,768 | Broker Quotes | Broker Quotes | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||
27,557 | Market Comparable Approach | EBITDA Multiple | 3.50x | — | 6.00x | 4.98x | ||||||||||||||||||||||||||||||||||||||
6,327 | Revenue Multiple | 2.25x | N/A | |||||||||||||||||||||||||||||||||||||||||
16,702 | Other(2) | Other(2) | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | 24,408 | Discounted Cash Flow | Discount Rates | 8.5% | — | 18.6% | 12.7% | |||||||||||||||||||||||||||||||||||||
14,175 | Broker Quotes | Broker Quotes | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | 2,998 | Discounted Cash Flow | Discount Rates | 16.0% | N/A | |||||||||||||||||||||||||||||||||||||||
Unsecured debt | 26,616 | Discounted Cash Flow | Discount Rates | 12.7% | 16.2% | 13.6% | ||||||||||||||||||||||||||||||||||||||
Equity | 17,596 | Market Comparable Approach | EBITDA Multiple | 3.25x | — | 21.50x | 9.88x | |||||||||||||||||||||||||||||||||||||
15,127 | $ per kW | $325 | N/A | |||||||||||||||||||||||||||||||||||||||||
4,032 | Revenue Multiple | 0.68x | — | 2.00x | 1.87x | |||||||||||||||||||||||||||||||||||||||
981 | Options Pricing Model | Expected Volatility | 73.0% | — | 84.2% | 73.0% | ||||||||||||||||||||||||||||||||||||||
Total | $ | 1,632,922 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Professional fees | Professional fees | $ | 519 | $ | 1,213 | $ | 1,152 | $ | 2,478 | $ | 4,214 | Professional fees | $ | 223 | $ | 1,355 | $ | 1,375 | $ | 3,833 | $ | 4,214 | ||||||||||||||||||||||||||||||||||||
Transfer agent expense | Transfer agent expense | 296 | 316 | 890 | 991 | 1,290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dues and subscriptions | Dues and subscriptions | 80 | 27 | 615 | 196 | 411 | Dues and subscriptions | 112 | 120 | 727 | 316 | 411 | ||||||||||||||||||||||||||||||||||||||||||||||
Transfer agent expense | 303 | 253 | 594 | 675 | 1,290 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Printing and marketing expense | Printing and marketing expense | 672 | 235 | 705 | 634 | 990 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Insurance expense | Insurance expense | 254 | 137 | 505 | 269 | 612 | Insurance expense | 157 | 135 | 662 | 404 | 612 | ||||||||||||||||||||||||||||||||||||||||||||||
Valuation expense | Valuation expense | 212 | 269 | 391 | 521 | 904 | Valuation expense | 199 | 191 | 590 | 712 | 904 | ||||||||||||||||||||||||||||||||||||||||||||||
Accounting and administrative costs | Accounting and administrative costs | 180 | 194 | 482 | 606 | 759 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Director fees and expenses | Director fees and expenses | 161 | 111 | 315 | 214 | 516 | Director fees and expenses | 162 | 151 | 477 | 365 | 516 | ||||||||||||||||||||||||||||||||||||||||||||||
Accounting and administrative costs | 145 | 175 | 302 | 412 | 759 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Printing and marketing expense | 28 | 355 | 33 | 399 | 990 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 10 | 23 | 27 | 77 | 109 | Other expenses | 26 | 12 | 53 | 89 | 109 | ||||||||||||||||||||||||||||||||||||||||||||||
Total general and administrative expense | Total general and administrative expense | $ | 1,712 | $ | 2,563 | $ | 3,934 | $ | 5,241 | $ | 9,805 | Total general and administrative expense | $ | 2,027 | $ | 2,709 | $ | 5,961 | $ | 7,950 | $ | 9,805 |
Unfunded Commitments | Unfunded Commitments | June 30, 2022(1) | December 31, 2021(1) | Unfunded Commitments | September 30, 2022(1) | December 31, 2021(1) | ||||||||||||||||||||||
Cennox, Inc. | Cennox, Inc. | $ | 14,286 | $ | — | Cennox, Inc. | $ | 9,583 | $ | — | ||||||||||||||||||
Service Compression, LLC | Service Compression, LLC | 7,326 | — | Service Compression, LLC | 6,977 | — | ||||||||||||||||||||||
Critical Nurse Staffing, LLC | Critical Nurse Staffing, LLC | 5,899 | 5,899 | Critical Nurse Staffing, LLC | 5,899 | 5,899 | ||||||||||||||||||||||
Instant Web, LLC | Instant Web, LLC | 5,628 | 2,704 | Instant Web, LLC | 5,845 | 2,704 | ||||||||||||||||||||||
Thrill Holdings LLC | Thrill Holdings LLC | 5,000 | — | Thrill Holdings LLC | 5,000 | — | ||||||||||||||||||||||
Novum Orthopedic Partners Management, LLC | 4,891 | — | ||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | Rogers Mechanical Contractors, LLC | 4,808 | 4,808 | Rogers Mechanical Contractors, LLC | 4,808 | 4,808 | ||||||||||||||||||||||
Trademark Global, LLC | Trademark Global, LLC | 4,615 | 4,615 | Trademark Global, LLC | 4,615 | 4,615 | ||||||||||||||||||||||
Mimeo.com, Inc. | 4,000 | 5,000 | ||||||||||||||||||||||||||
Dermcare Management, LLC | Dermcare Management, LLC | 4,081 | — | |||||||||||||||||||||||||
Homer City Holdings LLC | Homer City Holdings LLC | 4,000 | — | Homer City Holdings LLC | 4,000 | — | ||||||||||||||||||||||
American Health Staffing Group, Inc. | American Health Staffing Group, Inc. | 3,333 | 2,333 | American Health Staffing Group, Inc. | 3,333 | 2,333 | ||||||||||||||||||||||
Molded Devices, Inc. | 3,329 | 4,426 | ||||||||||||||||||||||||||
Tony's Finer Foods Enterprises, LLC | 2,326 | — | ||||||||||||||||||||||||||
Mimeo.com, Inc. | Mimeo.com, Inc. | 3,000 | 5,000 | |||||||||||||||||||||||||
Coyote Buyer, LLC | Coyote Buyer, LLC | 2,500 | 2,500 | |||||||||||||||||||||||||
Moss Holding Company | Moss Holding Company | 2,232 | 2,232 | Moss Holding Company | 2,232 | 2,232 | ||||||||||||||||||||||
HW Acquisition, LLC | HW Acquisition, LLC | 2,200 | 2,933 | HW Acquisition, LLC | 2,200 | 2,933 | ||||||||||||||||||||||
Inotiv, Inc. | Inotiv, Inc. | 2,100 | 2,100 | Inotiv, Inc. | 2,100 | 2,100 | ||||||||||||||||||||||
Foundation Consumer Healthcare, LLC | Foundation Consumer Healthcare, LLC | 2,094 | 2,094 | Foundation Consumer Healthcare, LLC | 2,094 | 2,094 | ||||||||||||||||||||||
MacNeill Pride Group Corp. | MacNeill Pride Group Corp. | 2,017 | — | MacNeill Pride Group Corp. | 2,017 | — | ||||||||||||||||||||||
NWN Parent Holdings LLC | 1,800 | 1,380 | ||||||||||||||||||||||||||
RumbleOn, Inc. | RumbleOn, Inc. | 1,775 | 6,000 | RumbleOn, Inc. | 1,775 | 6,000 | ||||||||||||||||||||||
Coyote Buyer, LLC | 1,750 | 2,500 | ||||||||||||||||||||||||||
Sleep Opco, LLC | Sleep Opco, LLC | 1,750 | 1,750 | Sleep Opco, LLC | 1,750 | 1,750 | ||||||||||||||||||||||
Extreme Reach, Inc. | Extreme Reach, Inc. | 1,744 | 1,744 | Extreme Reach, Inc. | 1,744 | 1,744 | ||||||||||||||||||||||
Archer Systems, LLC | Archer Systems, LLC | 1,690 | — | |||||||||||||||||||||||||
Optio Rx, LLC | Optio Rx, LLC | 1,530 | — | |||||||||||||||||||||||||
Bradshaw International Parent Corp. | Bradshaw International Parent Corp. | 1,537 | 1,445 | Bradshaw International Parent Corp. | 1,076 | 1,445 | ||||||||||||||||||||||
Optio Rx, LLC | 1,530 | — | ||||||||||||||||||||||||||
RA Outdoors, LLC | RA Outdoors, LLC | 1,049 | 1,049 | |||||||||||||||||||||||||
NWN Parent Holdings LLC | NWN Parent Holdings LLC | 990 | 1,380 | |||||||||||||||||||||||||
OpCo Borrower, LLC | OpCo Borrower, LLC | 625 | — | |||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | BDS Solutions Intermediateco, LLC | 474 | — | |||||||||||||||||||||||||
Invincible Boat Company LLC | Invincible Boat Company LLC | 239 | 798 | |||||||||||||||||||||||||
American Teleconferencing Services, Ltd. | American Teleconferencing Services, Ltd. | 235 | 235 | |||||||||||||||||||||||||
H.W. Lochner, Inc. | H.W. Lochner, Inc. | 225 | 275 | |||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Anthem Sports & Entertainment Inc. | 1,167 | 1,167 | Anthem Sports & Entertainment Inc. | 167 | 1,167 | ||||||||||||||||||||||
RA Outdoors, LLC | 1,049 | 1,049 | ||||||||||||||||||||||||||
H.W. Lochner, Inc. | 675 | 275 | ||||||||||||||||||||||||||
Invincible Boat Company LLC | 559 | 798 | ||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | 474 | — | ||||||||||||||||||||||||||
American Teleconferencing Services, Ltd. | 235 | 235 | ||||||||||||||||||||||||||
Genesis Healthcare, Inc. | Genesis Healthcare, Inc. | — | 35,000 | Genesis Healthcare, Inc. | — | 35,000 | ||||||||||||||||||||||
West Dermatology Management Holdings, LLC | West Dermatology Management Holdings, LLC | — | 6,308 | West Dermatology Management Holdings, LLC | — | 6,308 | ||||||||||||||||||||||
Williams Industrial Services Group, Inc. | Williams Industrial Services Group, Inc. | — | 5,000 | Williams Industrial Services Group, Inc. | — | 5,000 | ||||||||||||||||||||||
Molded Devices, Inc. | Molded Devices, Inc. | — | 4,426 | |||||||||||||||||||||||||
American Media, Inc. | American Media, Inc. | — | 1,702 | American Media, Inc. | — | 1,702 | ||||||||||||||||||||||
Marble Point Credit Management LLC | Marble Point Credit Management LLC | — | 1,250 | Marble Point Credit Management LLC | — | 1,250 | ||||||||||||||||||||||
Appalachian Resource Company, LLC | Appalachian Resource Company, LLC | — | 500 | Appalachian Resource Company, LLC | — | 500 | ||||||||||||||||||||||
Total | Total | $ | 96,129 | $ | 107,247 | Total | $ | 83,853 | $ | 107,247 |
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Capital structuring and other fees | Capital structuring and other fees | $ | 1,992 | $ | 790 | $ | 3,014 | $ | 1,084 | $ | 4,973 | Capital structuring and other fees | $ | 894 | $ | 1,470 | $ | 3,908 | $ | 2,554 | $ | 4,973 | ||||||||||||||||||||||||||||||||||||
Conversion fees | Conversion fees | 2,365 | — | 2,365 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amendment fees | Amendment fees | 575 | 90 | 970 | 674 | 869 | Amendment fees | 1,302 | 73 | 2,272 | 747 | 869 | ||||||||||||||||||||||||||||||||||||||||||||||
Administrative agent fees | Administrative agent fees | — | — | 25 | 55 | 85 | Administrative agent fees | — | — | 25 | 55 | 85 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,567 | $ | 880 | $ | 4,009 | $ | 1,813 | $ | 5,927 | Total | $ | 4,561 | $ | 1,543 | $ | 8,570 | $ | 3,356 | $ | 5,927 |
Six Months Ended June 30, | Year Ended December 31, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||
Per share data:(1) | Per share data:(1) | Per share data:(1) | ||||||||||||||||||||||||||||||||||||||
Net asset value at beginning of period | Net asset value at beginning of period | $ | 16.34 | $ | 15.50 | $ | 15.50 | Net asset value at beginning of period | $ | 16.34 | $ | 15.50 | $ | 15.50 | ||||||||||||||||||||||||||
Results of operations: | Results of operations: | Results of operations: | ||||||||||||||||||||||||||||||||||||||
Net investment income | Net investment income | 0.68 | 0.64 | 1.31 | Net investment income | 1.13 | 0.98 | 1.31 | ||||||||||||||||||||||||||||||||
Net realized (loss) gain and net change in unrealized (depreciation) appreciation on investments and (loss) gain on foreign currency(2) | Net realized (loss) gain and net change in unrealized (depreciation) appreciation on investments and (loss) gain on foreign currency(2) | (0.57) | 0.73 | 0.79 | Net realized (loss) gain and net change in unrealized (depreciation) appreciation on investments and (loss) gain on foreign currency(2) | (0.42) | 0.83 | 0.79 | ||||||||||||||||||||||||||||||||
Net increase in net assets resulting from operations(2) | Net increase in net assets resulting from operations(2) | 0.11 | 1.37 | 2.10 | Net increase in net assets resulting from operations(2) | 0.71 | 1.81 | 2.10 | ||||||||||||||||||||||||||||||||
Shareholder distributions: | Shareholder distributions: | Shareholder distributions: | ||||||||||||||||||||||||||||||||||||||
Distributions from net investment income | Distributions from net investment income | (0.56) | (0.53) | (1.26) | Distributions from net investment income | (0.87) | (0.79) | (1.26) | ||||||||||||||||||||||||||||||||
Net decrease in net assets resulting from shareholders' distributions | Net decrease in net assets resulting from shareholders' distributions | (0.56) | (0.53) | (1.26) | Net decrease in net assets resulting from shareholders' distributions | (0.87) | (0.79) | (1.26) | ||||||||||||||||||||||||||||||||
Capital share transactions: | Capital share transactions: | Capital share transactions: | ||||||||||||||||||||||||||||||||||||||
Issuance of common stock above net asset value(3) | Issuance of common stock above net asset value(3) | — | — | — | Issuance of common stock above net asset value(3) | — | — | — | ||||||||||||||||||||||||||||||||
Repurchases of common stock(4) | — | — | — | |||||||||||||||||||||||||||||||||||||
Repurchases of common stock below net asset value(4) | Repurchases of common stock below net asset value(4) | 0.08 | — | — | ||||||||||||||||||||||||||||||||||||
Net increase in net assets resulting from capital share transactions | Net increase in net assets resulting from capital share transactions | — | — | — | Net increase in net assets resulting from capital share transactions | 0.08 | — | — | ||||||||||||||||||||||||||||||||
Net asset value at end of period | Net asset value at end of period | $ | 15.89 | $ | 16.34 | $ | 16.34 | Net asset value at end of period | $ | 16.26 | $ | 16.52 | $ | 16.34 | ||||||||||||||||||||||||||
Shares of common stock outstanding at end of period | Shares of common stock outstanding at end of period | 56,958,440 | 56,648,478 | 56,958,440 | Shares of common stock outstanding at end of period | 56,262,964 | 56,958,440 | 56,958,440 | ||||||||||||||||||||||||||||||||
Total investment return-net asset value | Total investment return-net asset value | 1.87 | % | 9.00 | % | 14.43 | % | Total investment return-net asset value | 7.43 | % | 11.98 | % | 14.43 | % | ||||||||||||||||||||||||||
Total investment return-market value | Total investment return-market value | (30.29) | % | — | 3.87 | % | Total investment return-market value | (29.81) | % | — | 3.87 | % | ||||||||||||||||||||||||||||
Net assets at beginning of period | Net assets at beginning of period | $ | 930,512 | $ | 878,256 | $ | 878,256 | Net assets at beginning of period | $ | 930,512 | $ | 878,256 | $ | 878,256 | ||||||||||||||||||||||||||
Net assets at end of period | Net assets at end of period | $ | 905,238 | $ | 925,880 | $ | 930,512 | Net assets at end of period | $ | 914,906 | $ | 941,013 | $ | 930,512 | ||||||||||||||||||||||||||
Average net assets | Average net assets | $ | 926,144 | $ | 903,354 | $ | 918,824 | Average net assets | $ | 922,203 | $ | 911,856 | $ | 918,824 | ||||||||||||||||||||||||||
Ratio/Supplemental data: | Ratio/Supplemental data: | Ratio/Supplemental data: | ||||||||||||||||||||||||||||||||||||||
Ratio of net investment income to average net assets | Ratio of net investment income to average net assets | 4.19 | % | 4.02 | % | 8.09 | % | Ratio of net investment income to average net assets | 6.98 | % | 6.13 | % | 8.09 | % | ||||||||||||||||||||||||||
Ratio of gross operating expenses to average net assets | Ratio of gross operating expenses to average net assets | 5.02 | % | 4.21 | % | 9.04 | % | Ratio of gross operating expenses to average net assets | 8.14 | % | 6.69 | % | 9.04 | % | ||||||||||||||||||||||||||
Ratio of net operating expenses to average net assets | Ratio of net operating expenses to average net assets | 5.02 | % | 4.21 | % | 9.04 | % | Ratio of net operating expenses to average net assets | 8.14 | % | 6.69 | % | 9.04 | % | ||||||||||||||||||||||||||
Portfolio turnover rate | Portfolio turnover rate | 9.96 | % | 18.43 | % | 52.04 | % | Portfolio turnover rate | 18.66 | % | 32.40 | % | 52.04 | % | ||||||||||||||||||||||||||
Total amount of senior securities outstanding | Total amount of senior securities outstanding | $ | 947,500 | $ | 805,000 | $ | 830,000 | Total amount of senior securities outstanding | $ | 957,500 | $ | 805,000 | $ | 830,000 | ||||||||||||||||||||||||||
Asset coverage ratio(10) | 1.96 | 2.15 | 2.12 | |||||||||||||||||||||||||||||||||||||
Asset coverage ratio(9) | Asset coverage ratio(9) | 1.96 | 2.17 | 2.12 |
Three Months Ended June 30, | Year Ended December 31, | Three Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Activity | Net Investment Activity | 2022 | 2021 | 2021 | Net Investment Activity | 2022 | 2021 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases and drawdowns | Purchases and drawdowns | Purchases and drawdowns | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | 170,379 | $ | 221,361 | $ | 868,031 | Senior secured first lien debt | $ | 119,789 | $ | 160,124 | $ | 868,031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 1,836 | — | — | Senior secured second lien debt | 18,108 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | — | — | 20,000 | Unsecured debt | — | — | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 1,009 | 737 | 32,008 | Equity | 3,379 | 4,909 | 32,008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (109,553) | (96,828) | (827,958) | Sales and principal repayments | (154,872) | (223,214) | (827,958) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net portfolio activity | Net portfolio activity | $ | 63,671 | $ | 125,270 | $ | 92,081 | Net portfolio activity | $ | (13,596) | $ | (58,181) | $ | 92,081 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||
Investments Cost(1) | Investments Fair Value | Percentage of Investment Portfolio | Investments Cost(1) | Investments Fair Value | Percentage of Investment Portfolio | |||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | 1,732,780 | $ | 1,660,828 | 92.7 | % | Senior secured first lien debt | $ | 1,690,919 | $ | 1,616,352 | 89.8 | % | ||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 42,737 | 27,086 | 1.5 | % | Senior secured second lien debt | 40,988 | 38,716 | 2.2 | % | ||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 2,841 | 1,602 | 0.1 | % | Collateralized securities and structured products - equity | 2,733 | 1,366 | 0.1 | % | ||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 28,057 | 27,994 | 1.6 | % | Unsecured debt | 28,738 | 28,319 | 1.6 | % | ||||||||||||||||||||||||||||||
Equity | Equity | 55,213 | 73,597 | 4.1 | % | Equity | 78,795 | 112,491 | 6.3 | % | ||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,861,628 | 1,791,107 | 100.0 | % | Subtotal/total percentage | 1,842,173 | 1,797,244 | 100.0 | % | ||||||||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 14,345 | 14,345 | Short term investments(2) | 9,804 | 9,804 | ||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,875,973 | $ | 1,805,452 | Total investments | $ | 1,851,977 | $ | 1,807,048 | ||||||||||||||||||||||||||||||
Number of portfolio companies | Number of portfolio companies | 121 | Number of portfolio companies | 119 | ||||||||||||||||||||||||||||||||||||
Average annual EBITDA of portfolio companies | Average annual EBITDA of portfolio companies | $49.6 million | Average annual EBITDA of portfolio companies | $57.2 million | ||||||||||||||||||||||||||||||||||||
Median annual EBITDA of portfolio companies | Median annual EBITDA of portfolio companies | $33.7 million | Median annual EBITDA of portfolio companies | $37.3 million | ||||||||||||||||||||||||||||||||||||
Purchased at a weighted average price of par | Purchased at a weighted average price of par | 97.99 | % | Purchased at a weighted average price of par | 97.19 | % | ||||||||||||||||||||||||||||||||||
Gross annual portfolio yield based upon the purchase price(3) | Gross annual portfolio yield based upon the purchase price(3) | 8.90 | % | Gross annual portfolio yield based upon the purchase price(3) | 10.33 | % |
December 31, 2021 | |||||||||||||||||
Investments Cost(1) | Investments Fair Value | Percentage of Investment Portfolio | |||||||||||||||
Senior secured first lien debt | $ | 1,564,891 | $ | 1,526,989 | 91.6 | % | |||||||||||
Senior secured second lien debt | 55,455 | 38,583 | 2.3 | % | |||||||||||||
Collateralized securities and structured products - equity | 3,885 | 2,998 | 0.2 | % | |||||||||||||
Unsecured debt | 26,777 | 26,616 | 1.6 | % | |||||||||||||
Equity | 53,379 | 70,936 | 4.3 | % | |||||||||||||
Subtotal/total percentage | 1,704,387 | 1,666,122 | 100.0 | % | |||||||||||||
Short term investments(2) | 87,917 | 87,917 | |||||||||||||||
Total investments | $ | 1,792,304 | $ | 1,754,039 | |||||||||||||
Number of portfolio companies | 113 | ||||||||||||||||
Average annual EBITDA of portfolio companies | $50.4 million | ||||||||||||||||
Median annual EBITDA of portfolio companies | $36.3 million | ||||||||||||||||
Purchased at a weighted average price of par | 98.13 | % | |||||||||||||||
Gross annual portfolio yield based upon the purchase price(3) | 8.62 | % |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Allocation | Interest Rate Allocation | Investments Cost | Investments Fair Value | Percentage of Investment Portfolio | Investments Cost | Investments Fair Value | Percentage of Investment Portfolio | Interest Rate Allocation | Investments Cost | Investments Fair Value | Percentage of Investment Portfolio | Investments Cost | Investments Fair Value | Percentage of Investment Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Floating interest rate investments | Floating interest rate investments | $ | 1,603,065 | $ | 1,521,137 | 84.9 | % | $ | 1,454,429 | $ | 1,403,097 | 84.2 | % | Floating interest rate investments | $ | 1,561,760 | $ | 1,489,416 | 82.9 | % | $ | 1,454,429 | $ | 1,403,097 | 84.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed interest rate investments | Fixed interest rate investments | 184,462 | 179,133 | 10.0 | % | 176,326 | 172,162 | 10.3 | % | Fixed interest rate investments | 193,971 | 188,045 | 10.5 | % | 176,326 | 172,162 | 10.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-income producing investments | Non-income producing investments | 51,661 | 70,562 | 4.0 | % | 49,845 | 67,532 | 4.1 | % | Non-income producing investments | 75,261 | 110,018 | 6.1 | % | 49,845 | 67,532 | 4.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income producing investments | Other income producing investments | 22,440 | 20,275 | 1.1 | % | 23,787 | 23,331 | 1.4 | % | Other income producing investments | 11,181 | 9,765 | 0.5 | % | 23,787 | 23,331 | 1.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,861,628 | $ | 1,791,107 | 100.0 | % | $ | 1,704,387 | $ | 1,666,122 | 100.0 | % | Total investments | $ | 1,842,173 | $ | 1,797,244 | 100.0 | % | $ | 1,704,387 | $ | 1,666,122 | 100.0 | % |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Industry Classification | Industry Classification | Investments Fair Value | Percentage of Investment Portfolio | Investments Fair Value | Percentage of Investment Portfolio | Industry Classification | Investments Fair Value | Percentage of Investment Portfolio | Investments Fair Value | Percentage of Investment Portfolio | ||||||||||||||||||||||||||||||||||||||||||
Services: Business | Services: Business | $ | 355,881 | 19.9 | % | $ | 240,316 | 14.4 | % | Services: Business | $ | 354,725 | 19.7 | % | $ | 240,316 | 14.4 | % | ||||||||||||||||||||||||||||||||||
Healthcare & Pharmaceuticals | Healthcare & Pharmaceuticals | 228,630 | 12.8 | % | 250,049 | 15.0 | % | Healthcare & Pharmaceuticals | 279,102 | 15.5 | % | 250,049 | 15.0 | % | ||||||||||||||||||||||||||||||||||||||
Media: Diversified & Production | Media: Diversified & Production | 147,620 | 8.2 | % | 139,399 | 8.4 | % | Media: Diversified & Production | 159,236 | 8.9 | % | 139,399 | 8.4 | % | ||||||||||||||||||||||||||||||||||||||
Services: Consumer | Services: Consumer | 135,972 | 7.6 | % | 119,365 | 7.2 | % | Services: Consumer | 117,340 | 6.5 | % | 119,365 | 7.2 | % | ||||||||||||||||||||||||||||||||||||||
Diversified Financials | Diversified Financials | 99,465 | 5.6 | % | 101,032 | 6.1 | % | Diversified Financials | 106,426 | 5.9 | % | 101,032 | 6.1 | % | ||||||||||||||||||||||||||||||||||||||
High Tech Industries | High Tech Industries | 81,364 | 4.5 | % | 65,544 | 3.9 | % | |||||||||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | Media: Advertising, Printing & Publishing | 78,855 | 4.4 | % | 94,610 | 5.7 | % | |||||||||||||||||||||||||||||||||||||||||||||
Chemicals, Plastics & Rubber | Chemicals, Plastics & Rubber | 86,531 | 4.8 | % | 109,860 | 6.6 | % | Chemicals, Plastics & Rubber | 66,927 | 3.7 | % | 109,860 | 6.6 | % | ||||||||||||||||||||||||||||||||||||||
Retail | Retail | 83,579 | 4.7 | % | 56,726 | 3.4 | % | Retail | 64,919 | 3.6 | % | 56,726 | 3.4 | % | ||||||||||||||||||||||||||||||||||||||
High Tech Industries | 82,547 | 4.6 | % | 65,544 | 3.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | 78,936 | 4.4 | % | 94,610 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Energy: Oil & Gas | Energy: Oil & Gas | 60,937 | 3.4 | % | 32,164 | 1.9 | % | Energy: Oil & Gas | 62,688 | 3.5 | % | 32,164 | 1.9 | % | ||||||||||||||||||||||||||||||||||||||
Capital Equipment | 59,982 | 3.3 | % | 82,795 | 5.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Durable | Consumer Goods: Durable | 58,203 | 3.2 | % | 58,124 | 3.5 | % | Consumer Goods: Durable | 61,165 | 3.4 | % | 58,124 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||
Hotel, Gaming & Leisure | Hotel, Gaming & Leisure | 52,426 | 2.9 | % | 50,855 | 3.0 | % | Hotel, Gaming & Leisure | 53,065 | 3.0 | % | 50,855 | 3.0 | % | ||||||||||||||||||||||||||||||||||||||
Beverage, Food & Tobacco | Beverage, Food & Tobacco | 45,822 | 2.6 | % | 49,054 | 2.9 | % | Beverage, Food & Tobacco | 49,641 | 2.8 | % | 49,054 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||
Construction & Building | Construction & Building | 42,060 | 2.3 | % | 27,585 | 1.7 | % | |||||||||||||||||||||||||||||||||||||||||||||
Capital Equipment | Capital Equipment | 41,183 | 2.3 | % | 82,795 | 5.0 | % | |||||||||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | Banking, Finance, Insurance & Real Estate | 39,631 | 2.2 | % | 40,634 | 2.4 | % | |||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 38,531 | 2.2 | % | 38,279 | 2.3 | % | Aerospace & Defense | 38,683 | 2.2 | % | 38,279 | 2.3 | % | ||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | 38,378 | 2.1 | % | 40,634 | 2.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Construction & Building | 37,645 | 2.1 | % | 27,585 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Non-Durable | Consumer Goods: Non-Durable | 34,660 | 1.9 | % | 45,682 | 2.7 | % | Consumer Goods: Non-Durable | 35,647 | 2.0 | % | 45,682 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||
Telecommunications | Telecommunications | 20,066 | 1.1 | % | 24,649 | 1.5 | % | Telecommunications | 18,842 | 1.0 | % | 24,649 | 1.5 | % | ||||||||||||||||||||||||||||||||||||||
Automotive | Automotive | 17,147 | 1.0 | % | 14,367 | 0.9 | % | Automotive | 17,259 | 1.0 | % | 14,367 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||
Metals & Mining | Metals & Mining | 15,775 | 0.9 | % | 10,927 | 0.7 | % | Metals & Mining | 16,202 | 0.9 | % | 10,927 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||
Transportation: Cargo | Transportation: Cargo | 12,374 | 0.7 | % | 14,106 | 0.8 | % | Transportation: Cargo | 12,284 | 0.7 | % | 14,106 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,791,107 | 100.0 | % | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,797,244 | 100.0 | % | 1,666,122 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 14,345 | 87,917 | Short term investments | 9,804 | 87,917 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,805,452 | $ | 1,754,039 | Total investments | $ | 1,807,048 | $ | 1,754,039 |
Investment Rating | Description | |||||||
1 | Indicates the least amount of risk to our initial cost basis. The trends and risk factors for this investment since origination or acquisition are generally favorable, which may include the performance of the portfolio company or a potential exit. | |||||||
2 | Indicates a level of risk to our initial cost basis that is similar to the risk to our initial cost basis at the time of origination or acquisition. This portfolio company is generally performing in accordance with our analysis of its business and the full return of principal and interest or dividend is expected. | |||||||
3 | Indicates that the risk to our ability to recoup the cost of such investment has increased since origination or acquisition, but full return of principal and interest or dividend is expected. A portfolio company with an investment rating of 3 requires closer monitoring. | |||||||
4 | Indicates that the risk to our ability to recoup the cost of such investment has increased significantly since origination or acquisition, including as a result of factors such as declining performance and noncompliance with debt covenants, and we expect some loss of interest, dividend or capital appreciation, but still expect an overall positive internal rate of return on the investment. | |||||||
5 | Indicates that the risk to our ability to recoup the cost of such investment has increased materially since origination or acquisition and the portfolio company likely has materially declining performance. Loss of interest or dividend and some loss of principal investment is expected, which would result in an overall negative internal rate of return on the investment. |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investment Rating | Investment Rating | Investments Fair Value | Percentage of Investment Portfolio | Investments Fair Value | Percentage of Investment Portfolio | Investment Rating | Investments Fair Value | Percentage of Investment Portfolio | Investments Fair Value | Percentage of Investment Portfolio | ||||||||||||||||||||||||||||||||||||||||||
1 | 1 | $ | 130,882 | 7.3 | % | $ | 47,221 | 2.8 | % | 1 | $ | 63,230 | 3.5 | % | $ | 47,221 | 2.8 | % | ||||||||||||||||||||||||||||||||||
2 | 2 | 1,482,352 | 82.8 | % | 1,373,509 | 82.5 | % | 2 | 1,521,269 | 84.7 | % | 1,373,509 | 82.5 | % | ||||||||||||||||||||||||||||||||||||||
3 | 3 | 150,849 | 8.4 | % | 233,223 | 14.0 | % | 3 | 204,993 | 11.4 | % | 233,223 | 14.0 | % | ||||||||||||||||||||||||||||||||||||||
4 | 4 | 26,595 | 1.5 | % | 8,201 | 0.5 | % | 4 | 7,035 | 0.4 | % | 8,201 | 0.5 | % | ||||||||||||||||||||||||||||||||||||||
5 | 5 | 429 | — | 3,968 | 0.2 | % | 5 | 717 | — | 3,968 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||
$ | 1,791,107 | 100.0 | % | $ | 1,666,122 | 100.0 | % | $ | 1,797,244 | 100.0 | % | $ | 1,666,122 | 100.0 | % |
Investments Fair Value | Percentage of Investment Portfolio | Investments Fair Value | Percentage of Investment Portfolio | |||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | 1,549,613 | 91.8 | % | Senior secured first lien debt | $ | 1,625,390 | 90.0 | % | ||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 27,091 | 1.6 | % | Senior secured second lien debt | 38,716 | 2.1 | % | ||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 1,526 | 0.1 | % | Collateralized securities and structured products - equity | 1,366 | 0.1 | % | ||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 27,994 | 1.6 | % | Unsecured debt | 28,319 | 1.6 | % | ||||||||||||||||||||||||||||||||
Equity | Equity | 82,380 | 4.9 | % | Equity | 112,459 | 6.2 | % | ||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,688,604 | 100.0 | % | Subtotal/total percentage | 1,806,250 | 100.0 | % | ||||||||||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 32,832 | Short term investments(2) | 15,885 | ||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,721,436 | Total investments | $ | 1,822,135 | ||||||||||||||||||||||||||||||||||
Number of portfolio companies | Number of portfolio companies | 114 | Number of portfolio companies | 119 | ||||||||||||||||||||||||||||||||||||
Average annual EBITDA of portfolio companies | Average annual EBITDA of portfolio companies | $50.7 million | Average annual EBITDA of portfolio companies | $56.9 million | ||||||||||||||||||||||||||||||||||||
Median annual EBITDA of portfolio companies | Median annual EBITDA of portfolio companies | $36.3 million | Median annual EBITDA of portfolio companies | $39.3 million | ||||||||||||||||||||||||||||||||||||
Purchased at a weighted average price of par | Purchased at a weighted average price of par | 97.96 | % | Purchased at a weighted average price of par | 97.93 | % | ||||||||||||||||||||||||||||||||||
Gross annual portfolio yield based upon the purchase price(2) | Gross annual portfolio yield based upon the purchase price(2) | 9.46 | % | Gross annual portfolio yield based upon the purchase price(2) | 10.35 | % |
Three Months Ended June 30, | Three Months Ended September 30, | |||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
Investment income | Investment income | $ | 43,552 | $ | 38,021 | Investment income | $ | 54,163 | $ | 42,620 | ||||||||||||
Operating expenses and income taxes | Operating expenses and income taxes | 24,264 | 19,335 | Operating expenses and income taxes | 28,606 | 23,008 | ||||||||||||||||
Net investment income after taxes | Net investment income after taxes | 19,288 | 18,686 | Net investment income after taxes | 25,557 | 19,612 | ||||||||||||||||
Net realized gain on investments and foreign currency | 180 | 441 | ||||||||||||||||||||
Net change in unrealized (depreciation) appreciation on investments | (20,734) | 8,842 | ||||||||||||||||||||
Net realized (loss) gain on investments and foreign currency | Net realized (loss) gain on investments and foreign currency | (17,169) | 19,736 | |||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | Net change in unrealized appreciation (depreciation) on investments | 25,595 | (14,240) | |||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | $ | (1,266) | $ | 27,969 | ||||||||||||||||||
Net increase in net assets resulting from operations | Net increase in net assets resulting from operations | $ | 33,983 | $ | 25,108 |
Three Months Ended June 30, | |||||||||||
2022 | 2021 | ||||||||||
Management fees | $ | 6,839 | $ | 8,243 | |||||||
Administrative services expense | 781 | 697 | |||||||||
Subordinated incentive fee on income | 4,091 | — | |||||||||
General and administrative | 1,712 | 2,563 | |||||||||
Interest expense | 10,841 | 7,828 | |||||||||
Income tax expense, including excise tax | — | 4 | |||||||||
Total operating expenses and income taxes | $ | 24,264 | $ | 19,335 | |||||||
Three Months Ended June 30, | |||||||||||
2022 | 2021 | ||||||||||
Professional fees | $ | 519 | $ | 1,213 | |||||||
Transfer agent expense | 303 | 253 | |||||||||
Insurance expense | 254 | 137 | |||||||||
Valuation expense | 212 | 269 | |||||||||
Director fees and expenses | 161 | 111 | |||||||||
Accounting and administrative costs | 145 | 175 | |||||||||
Dues and subscriptions | 80 | 27 | |||||||||
Printing and marketing expense | 28 | 355 | |||||||||
Other expenses | 10 | 23 | |||||||||
Total general and administrative expense | $ | 1,712 | $ | 2,563 |
Six Months Ended June 30, | |||||||||||
2022 | 2021 | ||||||||||
Investment income | $ | 85,235 | $ | 74,324 | |||||||
Operating expenses and income taxes | 46,464 | 38,039 | |||||||||
Net investment income after taxes | 38,771 | 36,285 | |||||||||
Net realized gain (loss) on investments and foreign currency | 111 | (3,687) | |||||||||
Net change in unrealized (depreciation) appreciation on investments | (32,259) | 45,085 | |||||||||
Net increase in net assets resulting from operations | $ | 6,623 | $ | 77,683 |
Six Months Ended June 30, | Three Months Ended September 30, | |||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
Management fees | Management fees | $ | 13,494 | $ | 16,026 | Management fees | $ | 6,942 | $ | 8,443 | ||||||||||||
Administrative services expense | Administrative services expense | 1,501 | 1,381 | Administrative services expense | 733 | 722 | ||||||||||||||||
Subordinated incentive fee on income | Subordinated incentive fee on income | 8,224 | — | Subordinated incentive fee on income | 5,421 | 2,933 | ||||||||||||||||
General and administrative | General and administrative | 3,934 | 5,241 | General and administrative | 2,027 | 2,709 | ||||||||||||||||
Interest expense | Interest expense | 19,300 | 15,376 | Interest expense | 13,469 | 8,175 | ||||||||||||||||
Income tax expense, including excise tax | Income tax expense, including excise tax | 11 | 15 | Income tax expense, including excise tax | 14 | 26 | ||||||||||||||||
Total operating expenses and income taxes | Total operating expenses and income taxes | $ | 46,464 | $ | 38,039 | Total operating expenses and income taxes | $ | 28,606 | $ | 23,008 |
Three Months Ended September 30, | |||||||||||
2022 | 2021 | ||||||||||
Printing and marketing expense | $ | 672 | $ | 235 | |||||||
Transfer agent expense | 296 | 316 | |||||||||
Professional fees | 223 | 1,355 | |||||||||
Valuation expense | 199 | 191 | |||||||||
Accounting and administrative costs | 180 | 194 | |||||||||
Director fees and expenses | 162 | 151 | |||||||||
Insurance expense | 157 | 135 | |||||||||
Dues and subscriptions | 112 | 120 | |||||||||
Other expenses | 26 | 12 | |||||||||
Total general and administrative expense | $ | 2,027 | $ | 2,709 |
Nine Months Ended September 30, | |||||||||||
2022 | 2021 | ||||||||||
Investment income | $ | 139,398 | $ | 116,944 | |||||||
Operating expenses and income taxes | 75,070 | 61,047 | |||||||||
Net investment income after taxes | 64,328 | 55,897 | |||||||||
Net realized (loss) gain on investments and foreign currency | (17,058) | 16,049 | |||||||||
Net change in unrealized (depreciation) appreciation on investments | (6,664) | 30,845 | |||||||||
Net increase in net assets resulting from operations | $ | 40,606 | $ | 102,791 |
Nine Months Ended September 30, | |||||||||||
2022 | 2021 | ||||||||||
Management fees | $ | 20,436 | $ | 24,469 | |||||||
Administrative services expense | 2,234 | 2,103 | |||||||||
Subordinated incentive fee on income | 13,645 | 2,933 | |||||||||
General and administrative | 5,961 | 7,950 | |||||||||
Interest expense | 32,769 | 23,551 | |||||||||
Income tax expense, including excise tax | 25 | 41 | |||||||||
Total operating expenses and income taxes | $ | 75,070 | $ | 61,047 | |||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
Professional fees | Professional fees | $ | 1,152 | $ | 2,478 | Professional fees | $ | 1,375 | $ | 3,833 | ||||||||||||
Transfer agent expense | Transfer agent expense | 890 | 991 | |||||||||||||||||||
Dues and subscriptions | Dues and subscriptions | 615 | 196 | Dues and subscriptions | 727 | 316 | ||||||||||||||||
Transfer agent expense | 594 | 675 | ||||||||||||||||||||
Printing and marketing expense | Printing and marketing expense | 705 | 634 | |||||||||||||||||||
Insurance expense | Insurance expense | 505 | 269 | Insurance expense | 662 | 404 | ||||||||||||||||
Valuation expense | Valuation expense | 391 | 521 | Valuation expense | 590 | 712 | ||||||||||||||||
Accounting and administrative costs | Accounting and administrative costs | 482 | 606 | |||||||||||||||||||
Director fees and expenses | Director fees and expenses | 315 | 214 | Director fees and expenses | 477 | 365 | ||||||||||||||||
Accounting and administrative costs | 302 | 412 | ||||||||||||||||||||
Printing and marketing expense | 33 | 399 | ||||||||||||||||||||
Other expenses | Other expenses | 27 | 77 | Other expenses | 53 | 89 | ||||||||||||||||
Total general and administrative expense | Total general and administrative expense | $ | 3,934 | $ | 5,241 | Total general and administrative expense | $ | 5,961 | $ | 7,950 |
Distributions | ||||||||||||||
Three Months Ended | Per Share | Amount | ||||||||||||
2021 | ||||||||||||||
March 31, 2021 (three record dates)(1) | $ | 0.2648 | $ | 15,029 | ||||||||||
June 30, 2021 (three record dates)(1) | 0.2648 | 15,000 | ||||||||||||
September 30, 2021 (three record dates) | 0.2648 | 15,027 | ||||||||||||
December 31, 2021 (two record dates) | 0.4648 | 26,474 | ||||||||||||
Total distributions for the year ended December 31, 2021 | $ | 1.2592 | $ | 71,530 | ||||||||||
2022 | ||||||||||||||
March 31, 2022 (one record date) | $ | 0.2800 | $ | 15,948 | ||||||||||
June 30, 2022 (one record date) | 0.2800 | 15,949 | ||||||||||||
September 30, 2022 (one record date) | 0.3100 | 17,604 | ||||||||||||
Total distributions for the nine months ended September 30, 2022 | $ | 0.8700 | $ | 49,501 |
Basis Point Change in Interest Rates | Basis Point Change in Interest Rates | Increase (Decrease) in Net Interest Income(1) | Percentage Change in Net Interest Income | Basis Point Change in Interest Rates | (Decrease) Increase in Net Interest Income(1) | Percentage Change in Net Interest Income | ||||||||||||||||||||||
Down 300 basis points | Down 300 basis points | $ | (7,733) | (6.6) | % | |||||||||||||||||||||||
Down 200 basis points | Down 200 basis points | (10,866) | (9.3) | % | ||||||||||||||||||||||||
Down 100 basis points | Down 100 basis points | $ | (2,171) | (2.0) | % | Down 100 basis points | (6,390) | (5.5) | % | |||||||||||||||||||
Down 50 basis points | Down 50 basis points | (2,501) | (2.3) | % | Down 50 basis points | (3,247) | (2.8) | % | ||||||||||||||||||||
No change to current base rate (1.68% as of June 30, 2022) | — | — | ||||||||||||||||||||||||||
No change to current base rate (3.16% as of September 30, 2022) | No change to current base rate (3.16% as of September 30, 2022) | — | — | |||||||||||||||||||||||||
Up 50 basis points | Up 50 basis points | 3,566 | 3.2 | % | Up 50 basis points | 3,341 | 2.9 | % | ||||||||||||||||||||
Up 100 basis points | Up 100 basis points | 7,300 | 6.6 | % | Up 100 basis points | 6,824 | 5.8 | % | ||||||||||||||||||||
Up 200 basis points | Up 200 basis points | 14,786 | 13.3 | % | Up 200 basis points | 13,791 | 11.8 | % | ||||||||||||||||||||
Up 300 basis points | Up 300 basis points | 22,273 | 20.0 | % | Up 300 basis points | 20,757 | 17.8 | % |
Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs | ||||||||||||||||||||||
July 1 to July 31, 2022 | — | $ | — | — | — | |||||||||||||||||||||
August 1 to August 31, 2022 | 170,424 | 10.52 | 170,424 | (1) | ||||||||||||||||||||||
September 1 to September 30, 2022 | 525,052 | 9.37 | 525,052 | (1) | ||||||||||||||||||||||
Total | 695,476 | $ | 9.65 | 695,476 | (1) |
Exhibit Number | Description of Document | |||||||
2.1 | ||||||||
3.1 | ||||||||
3.2 | ||||||||
3.3 | ||||||||
4.1 | ||||||||
4.2 | ||||||||
4.3 | ||||||||
10.1 | ||||||||
10.2 | ||||||||
10.3 | ||||||||
10.4 |
Number | ||||||||
10.5 | ||||||||
10.6 | ||||||||
10.7 | ||||||||
10.8 | ||||||||
10.9 | ||||||||
10.10 | ||||||||
10.11 | ||||||||
10.12 | ||||||||
10.13 |
Exhibit Number | Description of Document | |||||||
10.14 | ||||||||
10.15 | ||||||||
10.16 | ||||||||
10.17 | ||||||||
10.18 | ||||||||
10.19 | ||||||||
10.20 | ||||||||
10.21 | ||||||||
10.22 | ||||||||
10.23 | First Amendment to Third Amended and Restated Loan and Security Agreement, dated as of March 28, 2022, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on March 29, 2022 (File No. 814-00941)). | |||||||
10.24 | ||||||||
31.1 | ||||||||
31.2 | ||||||||
31.3 | ||||||||
32.1 | ||||||||
32.2 | ||||||||
32.3 | ||||||||
101.INS | Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document. | |||||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document. | |||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |||||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |||||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | |||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |||||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |
By: /s/ Michael A. Reisner | ||
Michael A. Reisner | ||
Co-Chief Executive Officer | ||
(Principal Executive Officer) |
By: /s/ Mark Gatto | ||
Mark Gatto | ||
Co-Chief Executive Officer | ||
(Principal Executive Officer) |
By: /s/ Keith S. Franz | ||
Keith S. Franz | ||
Chief Financial Officer | ||
(Principal Financial and Accounting Officer) |