☒ | 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.) | |||||||
100 Park Avenue, 25th Floor New York, New York | 10017 | |||||||
(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 | ||||||||
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||
(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 $1,629,044 and $1,617,126, respectively) | $ | 1,567,403 | $ | 1,581,124 | ||||||||||||||||||||||||
Non-controlled, affiliated investments (amortized cost of $138,586 and $91,476, respectively) | 142,202 | 81,490 | ||||||||||||||||||||||||||
Controlled investments (amortized cost of $84,347 and $83,702, respectively) | 97,443 | 91,425 | ||||||||||||||||||||||||||
Total investments, at fair value (amortized cost of $1,851,977 and $1,792,304, respectively) | 1,807,048 | 1,754,039 | ||||||||||||||||||||||||||
Non-controlled, non-affiliated investments (amortized cost of $1,576,870 and $1,580,844, respectively) | Non-controlled, non-affiliated investments (amortized cost of $1,576,870 and $1,580,844, respectively) | $ | 1,479,976 | $ | 1,525,040 | |||||||||||||||||||||||
Non-controlled, affiliated investments (amortized cost of $169,539 and $140,344, respectively) | Non-controlled, affiliated investments (amortized cost of $169,539 and $140,344, respectively) | 162,785 | 143,876 | |||||||||||||||||||||||||
Controlled investments (amortized cost of $76,900 and $82,421, respectively) | Controlled investments (amortized cost of $76,900 and $82,421, respectively) | 80,591 | 91,114 | |||||||||||||||||||||||||
Total investments, at fair value (amortized cost of $1,823,309 and $1,803,609, respectively) | Total investments, at fair value (amortized cost of $1,823,309 and $1,803,609, respectively) | 1,723,352 | 1,760,030 | |||||||||||||||||||||||||
Cash | Cash | 43,661 | 3,774 | Cash | 96,016 | 82,739 | ||||||||||||||||||||||
Interest receivable on investments | Interest receivable on investments | 26,976 | 21,549 | Interest receivable on investments | 27,333 | 26,526 | ||||||||||||||||||||||
Receivable due on investments sold and repaid | Receivable due on investments sold and repaid | 7,146 | 2,854 | Receivable due on investments sold and repaid | 3,239 | 1,016 | ||||||||||||||||||||||
Dividends receivable on controlled investments | Dividends receivable on controlled investments | — | 1,275 | |||||||||||||||||||||||||
Prepaid expenses and other assets | Prepaid expenses and other assets | 841 | 466 | Prepaid expenses and other assets | 4,552 | 825 | ||||||||||||||||||||||
Total assets | Total assets | $ | 1,885,672 | $ | 1,782,682 | Total assets | $ | 1,854,492 | $ | 1,872,411 |
Liabilities and Shareholders' Equity | Liabilities and Shareholders' Equity | Liabilities and Shareholders' Equity | ||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||
Financing arrangements (net of unamortized debt issuance costs of $7,014 and $7,628, respectively) | $ | 950,486 | $ | 822,372 | ||||||||||||||||||||||||
Payable for investments purchased | — | 11,327 | ||||||||||||||||||||||||||
Financing arrangements (net of unamortized debt issuance costs of $8,316 and $6,178, respectively) | Financing arrangements (net of unamortized debt issuance costs of $8,316 and $6,178, respectively) | $ | 1,002,396 | $ | 951,322 | |||||||||||||||||||||||
Accounts payable and accrued expenses | Accounts payable and accrued expenses | 1,853 | 1,922 | Accounts payable and accrued expenses | 1,075 | 1,012 | ||||||||||||||||||||||
Interest payable | Interest payable | 5,143 | 4,339 | Interest payable | 7,007 | 7,820 | ||||||||||||||||||||||
Accrued management fees | Accrued management fees | 6,943 | 6,673 | Accrued management fees | 6,676 | 6,924 | ||||||||||||||||||||||
Accrued subordinated incentive fee on income | Accrued subordinated incentive fee on income | 5,421 | 3,942 | Accrued subordinated incentive fee on income | 6,334 | 5,065 | ||||||||||||||||||||||
Accrued administrative services expense | Accrued administrative services expense | 604 | 1,595 | Accrued administrative services expense | 694 | 1,703 | ||||||||||||||||||||||
Share repurchases payable | 316 | — | ||||||||||||||||||||||||||
Shareholder distribution payable | Shareholder distribution payable | — | 14,931 | |||||||||||||||||||||||||
Total liabilities | Total liabilities | 970,766 | 852,170 | Total liabilities | 1,024,182 | 988,777 | ||||||||||||||||||||||
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; 56,373,217 | ||||||||||||||||||||||||||||
and 56,958,440 shares issued and 56,262,964 and 56,958,440 shares outstanding, respectively | 57 | 57 | ||||||||||||||||||||||||||
Common stock, $0.001 par value; 500,000,000 shares authorized; 54,961,455 | Common stock, $0.001 par value; 500,000,000 shares authorized; 54,961,455 | |||||||||||||||||||||||||||
and 55,299,484 shares issued and 54,961,455 and 55,299,484 shares outstanding, respectively | and 55,299,484 shares issued and 54,961,455 and 55,299,484 shares outstanding, respectively | 55 | 55 | |||||||||||||||||||||||||
Capital in excess of par value | Capital in excess of par value | 1,053,278 | 1,059,989 | Capital in excess of par value | 1,040,955 | 1,044,547 | ||||||||||||||||||||||
Accumulated distributable losses | Accumulated distributable losses | (138,429) | (129,534) | Accumulated distributable losses | (210,700) | (160,968) | ||||||||||||||||||||||
Total shareholders' equity | Total shareholders' equity | 914,906 | 930,512 | Total shareholders' equity | 830,310 | 883,634 | ||||||||||||||||||||||
Total liabilities and shareholders' equity | Total liabilities and shareholders' equity | $ | 1,885,672 | $ | 1,782,682 | Total liabilities and shareholders' equity | $ | 1,854,492 | $ | 1,872,411 | ||||||||||||||||||
Net asset value per share of common stock at end of period | Net asset value per share of common stock at end of period | $ | 16.26 | $ | 16.34 | Net asset value per share of common stock at end of period | $ | 15.11 | $ | 15.98 |
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | ||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||
Investment income | ||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | ||||||||||||||||||||||||||||||||
Interest income | $ | 37,336 | $ | 31,036 | $ | 100,079 | $ | 87,305 | $ | 119,792 | ||||||||||||||||||||||
Paid-in-kind interest income | 6,876 | 3,969 | 16,095 | 13,957 | 17,306 | |||||||||||||||||||||||||||
Fee income | 4,542 | 1,543 | 8,045 | 3,356 | 5,927 | |||||||||||||||||||||||||||
Dividend income | 57 | 81 | 103 | 254 | 366 | |||||||||||||||||||||||||||
Non-controlled, affiliated investments | ||||||||||||||||||||||||||||||||
Interest income | 1,949 | 1,425 | 4,517 | 3,867 | 4,961 | |||||||||||||||||||||||||||
Paid-in-kind interest income | 1,174 | 776 | 3,493 | 2,655 | 3,160 | |||||||||||||||||||||||||||
Fee income | 19 | — | 525 | — | — | |||||||||||||||||||||||||||
Dividend income | 13 | 3,790 | 66 | 5,550 | 5,576 | |||||||||||||||||||||||||||
Controlled investments | ||||||||||||||||||||||||||||||||
Interest income | 2,197 | — | 6,066 | — | 260 | |||||||||||||||||||||||||||
Paid-in-kind interest income | — | — | 409 | — | — | |||||||||||||||||||||||||||
Total investment income | 54,163 | 42,620 | 139,398 | 116,944 | 157,348 | |||||||||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||||||
Management fees | 6,942 | 8,443 | 20,436 | 24,469 | 31,143 | |||||||||||||||||||||||||||
Administrative services expense | 733 | 722 | 2,234 | 2,103 | 3,069 | |||||||||||||||||||||||||||
Subordinated incentive fee on income | 5,421 | 2,933 | 13,645 | 2,933 | 6,875 | |||||||||||||||||||||||||||
General and administrative | 2,027 | 2,709 | 5,961 | 7,950 | 9,805 | |||||||||||||||||||||||||||
Interest expense | 13,469 | 8,175 | 32,769 | 23,551 | 31,807 | |||||||||||||||||||||||||||
Total operating expenses | 28,592 | 22,982 | 75,045 | 61,006 | 82,699 | |||||||||||||||||||||||||||
Net investment income before taxes | 25,571 | 19,638 | 64,353 | 55,938 | 74,649 | |||||||||||||||||||||||||||
Income tax expense, including excise tax | 14 | 26 | 25 | 41 | 342 | |||||||||||||||||||||||||||
Net investment income after taxes | 25,557 | 19,612 | 64,328 | 55,897 | 74,307 | |||||||||||||||||||||||||||
Realized and unrealized gains (losses) | ||||||||||||||||||||||||||||||||
Net realized (losses) gains on: | ||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | 4,267 | 873 | 4,475 | 1,344 | (4,100) | |||||||||||||||||||||||||||
Non-controlled, affiliated investments | (21,433) | 18,856 | (21,530) | 17,776 | 8,010 | |||||||||||||||||||||||||||
Controlled investments | — | — | — | (3,067) | (3,067) | |||||||||||||||||||||||||||
Foreign currency | (3) | 7 | (3) | (4) | (3) | |||||||||||||||||||||||||||
Net realized (losses) gains | (17,169) | 19,736 | (17,058) | 16,049 | 840 | |||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | (669) | 6,937 | (25,646) | 32,132 | 25,566 | |||||||||||||||||||||||||||
Non-controlled, affiliated investments | 18,966 | (21,177) | 13,609 | (4,354) | 7,261 | |||||||||||||||||||||||||||
Controlled investments | 7,298 | — | 5,373 | 3,067 | 10,790 | |||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 25,595 | (14,240) | (6,664) | 30,845 | 43,617 | |||||||||||||||||||||||||||
Net realized and unrealized gains (losses) | 8,426 | 5,496 | (23,722) | 46,894 | 44,457 | |||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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 | $ | 0.45 | $ | 0.35 | $ | 1.13 | $ | 0.98 | $ | 1.31 | ||||||||||||||||||||||
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 March 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||
2023 | 2022 | 2022 | ||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Investment income | ||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | ||||||||||||||||||||||||||||||||
Interest income | $ | 42,768 | $ | 30,994 | $ | 140,560 | ||||||||||||||||||||||||||
Paid-in-kind interest income | 4,831 | 4,606 | 22,737 | |||||||||||||||||||||||||||||
Fee income | 1,143 | 949 | 9,019 | |||||||||||||||||||||||||||||
Dividend income | — | 46 | 103 | |||||||||||||||||||||||||||||
Non-controlled, affiliated investments | ||||||||||||||||||||||||||||||||
Interest income | 2,474 | 1,023 | 5,865 | |||||||||||||||||||||||||||||
Paid-in-kind interest income | 1,731 | 1,445 | 6,204 | |||||||||||||||||||||||||||||
Fee income | 1,920 | 493 | 525 | |||||||||||||||||||||||||||||
Dividend income | 3,881 | — | 79 | |||||||||||||||||||||||||||||
Controlled investments | ||||||||||||||||||||||||||||||||
Interest income | 1,977 | 2,127 | 6,049 | |||||||||||||||||||||||||||||
Paid-in-kind interest income | — | — | 2,482 | |||||||||||||||||||||||||||||
Dividend income | 4,250 | — | 1,275 | |||||||||||||||||||||||||||||
Total investment income | 64,975 | 41,683 | 194,898 | |||||||||||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||||||
Management fees | 6,676 | 6,655 | 27,361 | |||||||||||||||||||||||||||||
Administrative services expense | 837 | 720 | 3,348 | |||||||||||||||||||||||||||||
Subordinated incentive fee on income | 6,335 | 4,133 | 18,710 | |||||||||||||||||||||||||||||
General and administrative | 1,955 | 2,222 | 7,278 | |||||||||||||||||||||||||||||
Interest expense | 19,309 | 8,459 | 49,624 | |||||||||||||||||||||||||||||
Total operating expenses | 35,112 | 22,189 | 106,321 | |||||||||||||||||||||||||||||
Net investment income before taxes | 29,863 | 19,494 | 88,577 | |||||||||||||||||||||||||||||
Income tax expense, including excise tax | 5 | 11 | 372 | |||||||||||||||||||||||||||||
Net investment income after taxes | 29,858 | 19,483 | 88,205 | |||||||||||||||||||||||||||||
Realized and unrealized (losses) gains | ||||||||||||||||||||||||||||||||
Net realized (losses) gains on: | ||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | (4,525) | 28 | (11,217) | |||||||||||||||||||||||||||||
Non-controlled, affiliated investments | — | (97) | (21,530) | |||||||||||||||||||||||||||||
Foreign currency | — | — | (3) | |||||||||||||||||||||||||||||
Net realized losses | (4,525) | (69) | (32,750) | |||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation on: | ||||||||||||||||||||||||||||||||
Non-controlled, non-affiliated investments | (41,086) | (7,495) | (19,807) | |||||||||||||||||||||||||||||
Non-controlled, affiliated investments | (10,290) | (3,780) | 13,523 | |||||||||||||||||||||||||||||
Controlled investments | (5,002) | (250) | 970 | |||||||||||||||||||||||||||||
Net change in unrealized depreciation | (56,378) | (11,525) | (5,314) | |||||||||||||||||||||||||||||
Net realized and unrealized losses | (60,903) | (11,594) | (38,064) | |||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | $ | (31,045) | $ | 7,889 | $ | 50,141 | ||||||||||||||||||||||||||
Per share information—basic and diluted | ||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets per share resulting from operations | $ | (0.56) | $ | 0.14 | $ | 0.89 | ||||||||||||||||||||||||||
Net investment income per share | $ | 0.54 | $ | 0.34 | $ | 1.56 | ||||||||||||||||||||||||||
Weighted average shares of common stock outstanding | 55,109,482 | 56,958,440 | 56,556,510 |
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | |||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||
Changes in net assets from operations: | |||||||||||||||||||||||||||||||||||
Net investment income | $ | 25,557 | $ | 19,612 | $ | 64,328 | $ | 55,897 | $ | 74,307 | |||||||||||||||||||||||||
Net realized (loss) gain on investments | (17,166) | 19,729 | (17,055) | 16,053 | 843 | ||||||||||||||||||||||||||||||
Net realized (loss) gain on foreign currency | (3) | 7 | (3) | (4) | (3) | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 25,595 | (14,240) | (6,664) | 30,845 | 43,617 | ||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||
Distributions to shareholders | (17,604) | (15,027) | (49,501) | (45,056) | (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: | |||||||||||||||||||||||||||||||||||
Reinvestment of shareholders' distributions | — | 5,065 | — | 15,489 | 15,489 | ||||||||||||||||||||||||||||||
Repurchase of common stock | (6,711) | (13) | (6,711) | (10,467) | (10,467) | ||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from capital share transactions | (6,711) | 5,052 | (6,711) | 5,022 | 5,022 | ||||||||||||||||||||||||||||||
Total increase (decrease) in net assets | 9,668 | 15,133 | (15,606) | 62,757 | 52,256 | ||||||||||||||||||||||||||||||
Net assets at beginning of period | 905,238 | 925,880 | 930,512 | 878,256 | 878,256 | ||||||||||||||||||||||||||||||
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) | $ | 16.26 | $ | 16.52 | $ | 16.26 | $ | 16.52 | $ | 16.34 | |||||||||||||||||||||||||
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 March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||
Changes in net assets from operations: | |||||||||||||||||||||||||||||||||||
Net investment income | $ | 29,858 | $ | 19,483 | $ | 88,205 | |||||||||||||||||||||||||||||
Net realized loss on investments | (4,525) | (69) | (32,747) | ||||||||||||||||||||||||||||||||
Net realized loss on foreign currency | — | — | (3) | ||||||||||||||||||||||||||||||||
Net change in unrealized depreciation on investments | (56,378) | (11,525) | (5,314) | ||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | (31,045) | 7,889 | 50,141 | ||||||||||||||||||||||||||||||||
Changes in net assets from shareholders' distributions: | |||||||||||||||||||||||||||||||||||
Distributions to shareholders | (18,687) | (15,948) | (81,575) | ||||||||||||||||||||||||||||||||
Net decrease in net assets resulting from shareholders' distributions | (18,687) | (15,948) | (81,575) | ||||||||||||||||||||||||||||||||
Changes in net assets from capital share transactions: | |||||||||||||||||||||||||||||||||||
Repurchase of common stock | (3,592) | — | (15,444) | ||||||||||||||||||||||||||||||||
Net decrease in net assets resulting from capital share transactions | (3,592) | — | (15,444) | ||||||||||||||||||||||||||||||||
Total decrease in net assets | (53,324) | (8,059) | (46,878) | ||||||||||||||||||||||||||||||||
Net assets at beginning of period | 883,634 | 930,512 | 930,512 | ||||||||||||||||||||||||||||||||
Net assets at end of period | $ | 830,310 | $ | 922,453 | $ | 883,634 | |||||||||||||||||||||||||||||
Net asset value per share of common stock at end of period | $ | 15.11 | $ | 16.20 | $ | 15.98 | |||||||||||||||||||||||||||||
Shares of common stock outstanding at end of period | 54,961,455 | 56,958,440 | 55,299,484 | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating activities: | Operating activities: | Operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | Net (decrease) increase in net assets resulting from operations | $ | (31,045) | $ | 7,889 | $ | 50,141 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net (decrease) increase in net assets resulting from operations to net cash provided by (used in) operating activities: | Adjustments to reconcile net (decrease) 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 | (4,191) | (3,360) | (9,165) | (9,265) | (11,738) | Net accretion of discount on investments | (4,342) | (2,496) | (11,032) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from principal repayment of investments | Proceeds from principal repayment of investments | 143,291 | 196,449 | 305,001 | 462,420 | 568,907 | Proceeds from principal repayment of investments | 57,462 | 58,747 | 407,174 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of investments | Purchase of investments | (141,276) | (165,033) | (452,323) | (570,765) | (920,039) | Purchase of investments | (23,048) | (137,823) | (550,538) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in-kind interest and dividends capitalized | Paid-in-kind interest and dividends capitalized | (8,049) | (3,779) | (19,997) | (16,597) | (21,734) | Paid-in-kind interest and dividends capitalized | (6,562) | (6,051) | (31,446) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease (increase) in short term investments, net | 4,540 | (67,351) | 78,112 | (42,237) | (14,319) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in short term investments, net | (Increase) decrease in short term investments, net | (55,457) | 72,154 | 77,048 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of investments | Proceeds from sale of investments | 11,581 | 26,765 | 20,456 | 46,896 | 259,050 | Proceeds from sale of investments | 8,812 | 2,284 | 62,586 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized loss (gain) on investments | 17,166 | (19,729) | 17,055 | (16,053) | (843) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (appreciation) depreciation on investments | (25,595) | 14,240 | 6,664 | (30,845) | (43,617) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized loss on investments | Net realized loss on investments | 4,525 | 69 | 32,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized depreciation on investments | Net change in unrealized depreciation on investments | 56,378 | 11,525 | 5,314 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt issuance costs | Amortization of debt issuance costs | 835 | 670 | 2,339 | 2,101 | 2,800 | Amortization of debt issuance costs | 895 | 692 | 3,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in interest receivable on investments | (Increase) decrease in interest receivable on investments | (4,077) | (1,466) | (4,239) | (4,280) | (4,400) | (Increase) decrease in interest receivable on investments | (1,897) | 584 | (2,821) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in dividends receivable on investments | (Increase) decrease in dividends receivable on investments | — | 52 | — | (90) | 45 | (Increase) decrease in dividends receivable on investments | 1,275 | — | (1,275) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in receivable due on investments sold and repaid | (Increase) decrease in receivable due on investments sold and repaid | (4,433) | (10,671) | (4,292) | (13,366) | 3,339 | (Increase) decrease in receivable due on investments sold and repaid | (2,223) | (4,449) | 1,838 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Increase) decrease in prepaid expenses and other assets | (Increase) decrease in prepaid expenses and other assets | 1,271 | (48) | (375) | 1,314 | 1,322 | (Increase) decrease in prepaid expenses and other assets | (3,727) | (3,152) | (359) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in payable for investments purchased | Increase (decrease) in payable for investments purchased | (11,635) | 15,422 | (11,327) | 33,227 | 11,194 | Increase (decrease) in payable for investments purchased | — | (11,327) | (11,327) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in accounts payable and accrued expenses | Increase (decrease) in accounts payable and accrued expenses | 659 | 1,349 | (69) | 2,815 | 1,228 | Increase (decrease) in accounts payable and accrued expenses | 63 | (1,060) | (910) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in interest payable | Increase (decrease) in interest payable | (460) | (1,347) | 804 | 338 | 1,839 | Increase (decrease) in interest payable | (813) | (1,166) | 3,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in accrued management fees | Increase (decrease) in accrued management fees | 104 | 200 | 270 | 775 | (995) | Increase (decrease) in accrued management fees | (248) | (18) | 251 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in accrued administrative services expense | Increase (decrease) in accrued administrative services expense | 74 | 234 | (991) | (126) | 330 | Increase (decrease) in accrued administrative services expense | (1,009) | (1,219) | 108 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in subordinated incentive fee on income payable | Increase (decrease) in subordinated incentive fee on income payable | 1,330 | 2,933 | 1,479 | (1,390) | (381) | Increase (decrease) in subordinated incentive fee on income payable | 1,269 | 191 | 1,123 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | Net cash provided by (used in) operating activities | 308 | (14,626) | 35,278 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing activities: | Financing activities: | Financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | Repurchase of common stock | (6,711) | (13) | (6,711) | (10,467) | (10,467) | Repurchase of common stock | (3,592) | — | (15,444) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders' distributions paid | Shareholders' distributions paid | (17,604) | (9,962) | (49,501) | (29,567) | (56,041) | Shareholders' distributions paid | (33,618) | (15,948) | (66,644) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments under financing arrangements | Repayments under financing arrangements | — | (21,000) | — | (146,000) | (171,000) | Repayments under financing arrangements | (27,500) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings under financing arrangements | Borrowings under financing arrangements | 10,000 | 21,000 | 127,500 | 226,000 | 276,000 | Borrowings under financing arrangements | 80,712 | 45,000 | 127,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs paid | Debt issuance costs paid | — | — | (1,725) | (5,384) | (5,384) | Debt issuance costs paid | (3,033) | (700) | (1,725) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,119 | 663 | 39,887 | (17,755) | (16,140) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and restricted cash, beginning of period | 42,542 | 1,496 | 3,774 | 19,914 | 19,914 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and restricted cash, end of period | $ | 43,661 | $ | 2,159 | $ | 43,661 | $ | 2,159 | $ | 3,774 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by financing activities | Net cash provided by financing activities | 12,969 | 28,352 | 43,687 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in cash | Net increase in cash | 13,277 | 13,726 | 78,965 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash, beginning of period | Cash, beginning of period | 82,739 | 3,774 | 3,774 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash, end of period | Cash, end of period | $ | 96,016 | $ | 17,500 | $ | 82,739 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 13,080 | $ | 8,842 | $ | 29,591 | $ | 21,100 | $ | 27,129 | Cash paid for interest | $ | 19,214 | $ | 8,925 | $ | 42,930 | ||||||||||||||||||||||||||||||||||||||||||||||
Supplemental non-cash financing activities: | Supplemental non-cash financing activities: | Supplemental non-cash financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvestment of shareholders' distributions | $ | — | $ | 5,065 | $ | — | $ | 15,489 | $ | 15,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring of portfolio investment | Restructuring of portfolio investment | $ | 45,162 | $ | 3,169 | $ | 45,162 | $ | 5,455 | $ | 5,455 | Restructuring of portfolio investment | $ | 45,986 | $ | — | $ | 50,554 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 912 | $ | — | $ | — |
Portfolio Company(a) | Portfolio Company(a) | Interest(b) | Maturity | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt - 176.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt - 177.4% | Senior Secured First Lien Debt - 177.4% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(x) | 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 | $ | 11,012 | $ | 11,012 | $ | 10,740 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(x) | Adapt Laser Acquisition, Inc.(t)(x) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | 2,062 | 2,057 | 1,721 | Adapt Laser Acquisition, Inc.(t)(x) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | 2,082 | 2,082 | 1,947 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aegis Toxicology Sciences Corp.(m)(x) | L+550, 1.00% LIBOR Floor | 5/9/2025 | Healthcare & Pharmaceuticals | 6,078 | 6,024 | 6,086 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Afore Insurance Services, LLC(m)(r)(aa) | Afore Insurance Services, LLC(m)(r)(aa) | S+600, 0.00% SOFR Floor | 3/24/2025 | Banking, Finance, Insurance & Real Estate | 4,583 | 4,583 | 4,572 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AHF Parent Holding, Inc.(n)(aa) | AHF Parent Holding, Inc.(n)(aa) | S+625, 0.75% SOFR Floor | 2/1/2028 | Construction & Building | 2,963 | 2,907 | 2,785 | AHF Parent Holding, Inc.(n)(aa) | S+625, 0.75% SOFR Floor | 2/1/2028 | Construction & Building | 2,850 | 2,802 | 2,744 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allen Media, LLC(n)(aa) | Allen Media, LLC(n)(aa) | S+550, 0.00% SOFR Floor | 2/10/2027 | Media: Diversified & Production | 8,886 | 8,812 | 8,442 | Allen Media, LLC(n)(aa) | S+550, 0.00% SOFR Floor | 2/10/2027 | Media: Diversified & Production | 8,841 | 8,775 | 8,553 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALM Media, LLC(m)(n)(x) | 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 | ALM Media, LLC(m)(n)(x) | L+600, 1.00% LIBOR Floor | 11/25/2024 | Media: Advertising, Printing & Publishing | 16,750 | 16,634 | 16,771 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 Clinical Solutions LLC(m)(t)(w) | American Clinical Solutions LLC(m)(t)(w) | L+700, 1.00% LIBOR Floor | 12/31/2024 | Healthcare & Pharmaceuticals | 4,797 | 4,797 | 4,629 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc.(m)(t)(x) | American Consolidated Natural Resources, Inc.(m)(t)(x) | L+1600, 1.00% LIBOR Floor | 9/16/2025 | Metals & Mining | 47 | 35 | 47 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc.(m)(y) | American Health Staffing Group, Inc.(m)(y) | S+600, 1.00% SOFR Floor | 11/19/2026 | Services: Business | 16,500 | 16,378 | 16,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc. | American Health Staffing Group, Inc. | 0.50% Unfunded | 11/19/2026 | Services: Business | 3,333 | (27) | — | American Health Staffing Group, Inc. | 0.50% Unfunded | 11/19/2026 | Services: Business | 3,333 | (24) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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.(q) | American Teleconferencing Services, Ltd.(q) | Prime+550 | 6/30/2022 | Telecommunications | 3,116 | 3,116 | 140 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(o) | American Teleconferencing Services, Ltd.(o) | 0.00% Unfunded | 6/30/2022 | Telecommunications | 235 | — | — | American Teleconferencing Services, Ltd.(o) | 0.50% 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) | Analogic Corp.(m)(n)(x) | L+525, 1.00% LIBOR Floor | 6/21/2024 | Healthcare & Pharmaceuticals | 4,863 | 4,830 | 4,765 | Analogic Corp.(m)(n)(x) | L+525, 1.00% LIBOR Floor | 6/21/2024 | Healthcare & Pharmaceuticals | 4,838 | 4,815 | 4,807 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ancile Solutions, Inc.(m)(t)(x) | Ancile Solutions, Inc.(m)(t)(x) | L+1000, 1.00% LIBOR Floor | 6/22/2026 | High Tech Industries | 11,935 | 11,629 | 11,577 | Ancile Solutions, Inc.(m)(t)(x) | L+1000, 1.00% LIBOR Floor | 6/11/2026 | High Tech Industries | 11,998 | 11,734 | 11,638 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | 0.50% Unfunded | 11/15/2026 | Media: Diversified & Production | 167 | — | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(m)(t)(x) | 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.(m)(t)(x) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 37,076 | 36,932 | 35,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(x) | Anthem Sports & Entertainment Inc.(x) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 3,000 | 3,000 | 2,865 | Anthem Sports & Entertainment Inc.(x) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 3,000 | 3,000 | 2,873 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Anthem Sports & Entertainment Inc. | 0.50% Unfunded | 11/15/2026 | Media: Diversified & Production | 167 | — | (7) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(w) | 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 | 10,807 | 10,789 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(w) | Appalachian Resource Company, LLC(w) | L+500, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 11,137 | 10,452 | 10,677 | Appalachian Resource Company, LLC(w) | L+1000, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 5,000 | 5,000 | 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Archer Systems, LLC(m)(aa) | 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(m)(aa) | S+600, 1.00% SOFR Floor | 8/11/2027 | Services: Business | 18,050 | 17,892 | 18,073 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Archer Systems, LLC | 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 | 1,905 | (17) | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Archer Systems, LLC | 0.50% Unfunded | 8/11/2027 | Services: Business | 1,690 | — | (17) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC(m)(n)(x) | Associated Asphalt Partners, LLC(m)(n)(x) | L+525, 1.00% LIBOR Floor | 4/5/2024 | Construction & Building | 14,221 | 14,020 | 10,974 | Associated Asphalt Partners, LLC(m)(n)(x) | L+525, 1.00% LIBOR Floor | 4/5/2024 | Construction & Building | 14,178 | 14,045 | 10,888 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Atlas Supply LLC | Atlas Supply LLC | 11.00% | 4/29/2025 | Healthcare & Pharmaceuticals | 5,000 | 5,000 | 4,963 | Atlas Supply LLC | 11.00% | 4/29/2025 | Healthcare & Pharmaceuticals | 5,000 | 5,000 | 4,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avison Young (USA) Inc.(m)(w) | Avison Young (USA) Inc.(m)(w) | S+575, 0.00% SOFR Floor | 1/31/2026 | Banking, Finance, Insurance & Real Estate | 2,658 | 2,634 | 2,425 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC(m)(aa) | 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(m)(aa) | S+625, 1.00% SOFR Floor | 2/7/2027 | Services: Business | 20,044 | 19,736 | 19,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC(aa) | 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(aa) | S+625, 1.00% SOFR Floor | 2/7/2027 | Services: Business | 859 | 802 | 843 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | BDS Solutions Intermediateco, LLC | 0.50% Unfunded | 2/7/2027 | Services: Business | 474 | — | (9) | BDS Solutions Intermediateco, LLC | 0.50% Unfunded | 2/7/2027 | Services: Business | 1,998 | — | (37) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc.(r)(z) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | 13,800 | 12,915 | 13,145 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc.(z) | Berlitz Holdings, Inc.(z) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | 13,800 | 13,080 | 13,248 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp.(m)(w) | Bradshaw International Parent Corp.(m)(w) | L+ 575, 1.00% LIBOR Floor | 10/21/2027 | Consumer Goods: Durable | 12,991 | 12,730 | 12,618 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp. | Bradshaw International Parent Corp. | 0.50% Unfunded | 10/21/2026 | Consumer Goods: Durable | 1,076 | — | (28) | Bradshaw International Parent Corp. | 0.50% Unfunded | 10/21/2026 | Consumer Goods: Durable | 1,844 | (33) | (53) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | Portfolio Company(a) | Interest(b) | Maturity | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cabi, LLC(m)(z) | Cabi, LLC(m)(z) | S+950, 1.00% SOFR Floor | 2/28/2027 | Retail | 22,216 | 21,901 | 21,882 | Cabi, LLC(m)(z) | S+950, 1.00% SOFR Floor | 2/28/2027 | Retail | 21,931 | 21,656 | 21,602 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC(m)(n)(t)(x) | Cadence Aerospace, LLC(m)(n)(t)(x) | L+850, 1.00% LIBOR Floor | 11/14/2023 | Aerospace & Defense | 39,272 | 39,079 | 38,683 | Cadence Aerospace, LLC(m)(n)(t)(x) | L+850, 1.00% LIBOR Floor | 11/14/2023 | Aerospace & Defense | 39,491 | 39,388 | 39,195 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc.(n)(r)(z) | Carestream Health, Inc.(n)(r)(z) | S+750, 1.00% SOFR Floor | 9/30/2027 | Healthcare & Pharmaceuticals | 7,596 | 7,596 | 7,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CB URS Holdings Corp.(m)(q)(x) | CB URS Holdings Corp.(m)(q)(x) | L+575, 1.00% LIBOR Floor | 9/1/2024 | Transportation: Cargo | 14,826 | 14,797 | 10,656 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Celerity Acquisition Holdings, LLC(m)(x) | Celerity Acquisition Holdings, LLC(m)(x) | L+850, 1.00% LIBOR Floor | 5/28/2026 | Services: Business | 14,738 | 14,738 | 14,443 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cennox, Inc.(m)(x) | Cennox, Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 22,564 | 22,564 | 22,564 | Cennox, Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 22,455 | 22,455 | 22,371 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cennox, Inc.(n)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 11,915 | 11,853 | 11,915 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cennox, Inc.(m)(n)(x) | Cennox, Inc.(m)(n)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 11,666 | 11,613 | 11,623 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cennox, Inc. | Cennox, Inc. | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 597 | 597 | 597 | Cennox, Inc. | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 2,987 | 2,987 | 2,976 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cennox, Inc. | Cennox, Inc. | 1.00% Unfunded | 11/22/2023 | Services: Business | 7,193 | — | — | Cennox, Inc. | 1.00% Unfunded | 11/22/2023 | Services: Business | 7,193 | — | (27) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | CION/EagleTree Partners, LLC(h)(s)(t) | 14.00% | 12/21/2026 | Diversified Financials | 62,274 | 62,274 | 62,274 | CION/EagleTree Partners, LLC(h)(s)(t) | 14.00% | 12/21/2026 | Diversified Financials | 54,827 | 54,827 | 54,827 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(n)(w) | 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)(n)(w) | L+550, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 26,763 | 26,725 | 26,763 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(w) | 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 | 1/16/2024 | Hotel, Gaming & Leisure | 2,725 | 2,703 | 2,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(w) | CircusTrix Holdings, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 7/16/2023 | Hotel, Gaming & Leisure | 1,563 | 1,513 | 1,866 | CircusTrix Holdings, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 7/16/2023 | Hotel, Gaming & Leisure | 754 | 745 | 900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Tree Service, LLC(aa) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 12,500 | 12,500 | 12,438 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Tree Service, LLC(m)(aa) | Community Tree Service, LLC(m)(aa) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 12,438 | 12,438 | 11,878 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Country Fresh Holdings, LLC(q)(x) | 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 | 877 | 765 | 75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Country Fresh Holdings, LLC(q)(x) | Country Fresh Holdings, LLC(q)(x) | L+500, 1.00% LIBOR Floor | 4/29/2023 | Beverage, Food & Tobacco | 355 | 316 | 37 | Country Fresh Holdings, LLC(q)(x) | L+500, 1.00% LIBOR Floor | 4/29/2023 | Beverage, Food & Tobacco | 355 | 316 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coyote Buyer, LLC | L+600, 1.00% LIBOR Floor | 2/6/2026 | Chemicals, Plastics & Rubber | 34,125 | 33,941 | 33,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(m)(n)(x) | Coyote Buyer, LLC(m)(n)(x) | L+600, 1.00% LIBOR Floor | 2/6/2026 | Chemicals, Plastics & Rubber | 33,950 | 33,798 | 33,611 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(n)(x) | 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(n)(x) | L+800, 1.00% LIBOR Floor | 8/6/2026 | Chemicals, Plastics & Rubber | 6,109 | 6,032 | 6,109 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coyote Buyer, LLC | 0.50% Unfunded | 2/6/2025 | Chemicals, Plastics & Rubber | 2,500 | — | (44) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coyote Buyer, LLC | Coyote Buyer, LLC | 0.50% Unfunded | 2/6/2025 | Chemicals, Plastics & Rubber | 2,500 | — | (25) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(m)(x) | Critical Nurse Staffing, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 12,895 | 12,895 | 12,895 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(m)(x) | Critical Nurse Staffing, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 996 | 996 | 996 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(x) | Critical Nurse Staffing, LLC(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 760 | 760 | 760 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC | Critical Nurse Staffing, LLC | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 12,961 | 12,961 | 12,961 | Critical Nurse Staffing, LLC | 1.00% Unfunded | 11/1/2026 | Healthcare & Pharmaceuticals | 4,899 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC | Critical Nurse Staffing, LLC | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 1,002 | 1,002 | 1,002 | Critical Nurse Staffing, LLC | 0.50% Unfunded | 11/1/2026 | Healthcare & Pharmaceuticals | 240 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC(m)(q)(t)(x) | David's Bridal, LLC(m)(q)(t)(x) | L+1000, 1.00% LIBOR Floor | 5/23/2024 | Retail | 13,166 | 12,419 | 7,702 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC(m)(q)(t)(x) | David's Bridal, LLC(m)(q)(t)(x) | L+1000, 1.00% LIBOR Floor | 5/23/2024 | Retail | 5,426 | 5,426 | 3,038 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC(q)(t)(x) | David's Bridal, LLC(q)(t)(x) | L+1000, 1.00% LIBOR Floor | 12/23/2024 | Retail | 6,014 | 5,457 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC(q)(t)(x) | David's Bridal, LLC(q)(t)(x) | L+700, 1.00% LIBOR Floor | 12/31/2024 | Retail | 865 | 793 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(x) | 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 | Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(x) | L+650, 1.00% LIBOR Floor | 3/25/2024 | Media: Diversified & Production | 2,593 | 2,542 | 130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dermcare Management, LLC(m)(z) | Dermcare Management, LLC(m)(z) | S+600, 1.00% SOFR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 9,332 | 9,165 | 9,251 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dermcare Management, LLC(m)(z) | 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(m)(z) | S+600, 1.00% SOFR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 3,531 | 3,453 | 3,501 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dermcare Management, LLC | Dermcare Management, LLC | L+575, 1.00% LIBOR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 1,333 | 1,333 | 1,333 | Dermcare Management, LLC | Prime+600 | 4/22/2028 | Healthcare & Pharmaceuticals | 358 | 358 | 355 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dermcare Management, LLC | Dermcare Management, LLC | Prime+475 | 4/22/2028 | Healthcare & Pharmaceuticals | 179 | 179 | 179 | Dermcare Management, LLC | 0.50% Unfunded | 10/22/2023 | Healthcare & Pharmaceuticals | 698 | — | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dermcare Management, LLC | 0.50% Unfunded | 10/22/2023 | Healthcare & Pharmaceuticals | 2,917 | — | — |
Portfolio Company(a) | Portfolio Company(a) | Interest(b) | Maturity | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dermcare Management, LLC | Dermcare Management, LLC | 0.50% Unfunded | 4/22/2028 | Healthcare & Pharmaceuticals | 1,164 | — | — | Dermcare Management, LLC | 0.50% Unfunded | 4/22/2028 | Healthcare & Pharmaceuticals | 985 | — | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DMT Solutions Global Corp.(n)(u) | DMT Solutions Global Corp.(n)(u) | L+750, 1.00% LIBOR Floor | 7/2/2024 | Services: Business | 4,039 | 4,105 | 3,877 | DMT Solutions Global Corp.(n)(u) | L+750, 1.00% LIBOR Floor | 7/2/2024 | Services: Business | 3,910 | 3,884 | 3,721 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emerald Technologies (U.S.) Acquisitionco, Inc.(n)(z) | 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 | Emerald Technologies (U.S.) Acquisitionco, Inc.(n)(z) | S+625, 1.00% SOFR Floor | 12/29/2027 | Services: Business | 2,925 | 2,876 | 2,779 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(m)(aa) | Entertainment Studios P&A LLC(m)(aa) | S+850, 1.00% SOFR Floor | 9/28/2027 | Media: Diversified & Production | 23,488 | 23,400 | 23,488 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(j) | Entertainment Studios P&A LLC(j) | 5.00% | 5/18/2037 | Media: Diversified & Production | — | — | 1,512 | Entertainment Studios P&A LLC(j) | 5.00% | 5/18/2037 | Media: Diversified & Production | — | — | 1,368 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flatworld Intermediate Corp.(n)(aa) | Flatworld Intermediate Corp.(n)(aa) | S+600, 1.00% SOFR Floor | 10/3/2027 | Services: Business | 25,072 | 25,072 | 25,260 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flatworld Intermediate Corp. | Flatworld Intermediate Corp. | 0.50% Unfunded | 10/3/2027 | Services: Business | 5,865 | — | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FuseFX, LLC(m)(n)(w) | FuseFX, LLC(m)(n)(w) | L+575, 1.00% LIBOR Floor | 10/1/2024 | Media: Diversified & Production | 19,847 | 19,700 | 19,673 | FuseFX, LLC(m)(n)(w) | S+575, 1.00% SOFR Floor | 10/1/2024 | Media: Diversified & Production | 19,744 | 19,640 | 19,547 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fusion Connect Inc.(m)(x) | L+750, 1.00% LIBOR Floor | 1/18/2027 | High Tech Industries | 20,248 | 19,725 | 19,742 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fusion Connect Inc.(m)(t)(x) | Fusion Connect Inc.(m)(t)(x) | L+850, 1.00% LIBOR Floor | 1/18/2027 | High Tech Industries | 19,677 | 19,222 | 19,677 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future Pak, LLC(m)(w) | Future Pak, LLC(m)(w) | L+800, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 27,021 | 27,021 | 26,413 | Future Pak, LLC(m)(w) | L+1000, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 22,183 | 22,183 | 22,183 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gold Medal Holdings, Inc.(m)(aa) | Gold Medal Holdings, Inc.(m)(aa) | S+700, 1.00% SOFR Floor | 3/17/2027 | Services: Business | 14,759 | 14,621 | 14,575 | Gold Medal Holdings, Inc.(m)(aa) | S+700, 1.00% SOFR Floor | 3/17/2027 | Services: Business | 14,759 | 14,639 | 14,575 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(w) | 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)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 2,404 | 2,329 | 2,094 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | 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+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 935 | 905 | 612 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | GSC Technologies Inc.(r)(t)(w) | L+1000, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 158 | 158 | 158 | GSC Technologies Inc.(r)(t)(w) | L+1000, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 150 | 150 | 150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(m)(x) | 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.(m)(x) | L+575, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 8,828 | 8,763 | 8,828 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(m)(x) | H.W. Lochner, Inc.(m)(x) | S +675, 1.00% SOFR Floor | 7/2/2027 | Construction & Building | 7,439 | 7,229 | 7,215 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(x) | H.W. Lochner, Inc.(x) | L+575, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 775 | 765 | 775 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
H.W. Lochner, Inc. | H.W. Lochner, Inc. | 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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Harland Clarke Holdings Corp.(m)(x) | Harland Clarke Holdings Corp.(m)(x) | S+775, 1.00% SOFR Floor | 6/16/2026 | Services: Business | 9,186 | 9,180 | 7,674 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heritage Power, LLC | Heritage Power, LLC | Prime+500 | 7/30/2026 | Energy: Oil & Gas | 8,622 | 6,908 | 3,837 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP(m)(t)(w) | Hilliard, Martinez & Gonzales, LLP(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2022 | Services: Consumer | 20,983 | 20,960 | 20,983 | Hilliard, Martinez & Gonzales, LLP(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2023 | Services: Consumer | 22,706 | 22,670 | 22,706 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hollander Intermediate LLC(m)(aa) | Hollander Intermediate LLC(m)(aa) | L+875, 2.00% LIBOR Floor | 9/19/2026 | Consumer Goods: Durable | 17,468 | 17,003 | 17,000 | Hollander Intermediate LLC(m)(aa) | S+875, 2.00% SOFR Floor | 9/19/2026 | Consumer Goods: Durable | 17,249 | 16,832 | 16,538 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(m)(q)(t) | Homer City Generation, L.P.(m)(q)(t) | 15.00% | 4/5/2023 | Energy: Oil & Gas | 12,222 | 12,076 | 8,209 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(t) | Homer City Generation, L.P.(t) | 17.00% | 5/31/2023 | Energy: Oil & Gas | 1,000 | 1,000 | 1,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hudson Hospital Opco, LLC(m)(n)(z) | Hudson Hospital Opco, LLC(m)(n)(z) | S+800, 3.00% SOFR Floor | 11/4/2023 | Healthcare & Pharmaceuticals | 2,186 | 2,146 | 2,169 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HUMC Holdco, LLC(m)(x) | HUMC Holdco, LLC(m)(x) | S+800, 3.00% SOFR Floor | 11/4/2023 | Healthcare & Pharmaceuticals | 7,827 | 7,827 | 7,827 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HW Acquisition, LLC(m) | HW Acquisition, LLC(m) | Prime+500 | 9/28/2026 | Capital Equipment | 18,828 | 18,694 | 17,393 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HW Acquisition, LLC | HW Acquisition, LLC | Prime+500 | 9/28/2026 | Capital Equipment | 733 | 710 | 696 | HW Acquisition, LLC | Prime+500 | 9/28/2026 | Capital Equipment | 733 | 713 | 677 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HW Acquisition, LLC | HW Acquisition, LLC | 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 | — | (168) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HW Acquisition, LLC | 0.50% Unfunded | 9/28/2026 | Capital Equipment | 2,200 | — | (113) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ICA Foam Holdings, LLC(m)(aa) | ICA Foam Holdings, LLC(m)(aa) | S+675, 1.00% SOFR Floor | 11/5/2025 | Containers, Packaging & Glass | 19,900 | 19,555 | 19,477 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IJKG Opco LLC(m)(n)(z) | IJKG Opco LLC(m)(n)(z) | S+800, 3.00% SOFR Floor | 11/4/2023 | Healthcare & Pharmaceuticals | 1,457 | 1,432 | 1,446 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(q)(t) | Independent Pet Partners Intermediate Holdings, LLC(q)(t) | 6.00% | 11/20/2023 | Retail | 10,934 | 10,905 | 4,702 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t) | 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+900 | 4/16/2023 | Retail | 2,491 | 2,308 | 2,491 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t)(z) | Independent Pet Partners Intermediate Holdings, LLC(t)(z) | S+1000, 1.00% SOFR Floor | 2/27/2023 | Retail | 1,577 | 1,681 | 1,577 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t) | 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) | Prime+900 | 4/16/2023 | Retail | 1,397 | 1,374 | 1,397 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | Portfolio Company(a) | Interest(b) | Maturity | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inotiv, Inc.(m)(x) | Inotiv, Inc.(m)(x) | L+625, 1.00% LIBOR Floor | 11/5/2026 | Healthcare & Pharmaceuticals | 12,208 | 12,005 | 11,780 | Inotiv, Inc.(m)(x) | S+625, 1.00% SOFR Floor | 11/5/2026 | Healthcare & Pharmaceuticals | 16,391 | 16,154 | 15,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inotiv, Inc. | 1.00% Unfunded | 5/5/2023 | Healthcare & Pharmaceuticals | 2,100 | (36) | (74) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC(m)(n)(r)(t)(w) | 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(m)(n)(r)(t)(w) | L+700, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 40,985 | 40,985 | 24,847 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC(r)(w) | Instant Web, LLC(r)(w) | L+650, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 1,186 | 1,186 | 1,180 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | Instant Web, LLC(r) | Prime+375 | 2/25/2027 | Media: Advertising, Printing & Publishing | 458 | 458 | 457 | Instant Web, LLC(r) | Prime+375 | 2/25/2027 | Media: Advertising, Printing & Publishing | 458 | 458 | 469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC | Instant Web, LLC | L+650, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 105 | 105 | 105 | Instant Web, LLC | 0.50% Unfunded | 2/25/2027 | Media: Advertising, Printing & Publishing | 1,517 | — | (8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | 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 | — | (16) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | 0.50% Unfunded | 2/25/2027 | Media: Advertising, Printing & Publishing | 3,246 | — | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(m)(x) | Invincible Boat Company LLC(m)(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 13,536 | 13,453 | 13,469 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(x) | Invincible Boat Company LLC(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 559 | 559 | 556 | Invincible Boat Company LLC(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 559 | 559 | 556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invincible Boat Company LLC | Invincible Boat Company LLC | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invincible Boat Company LLC | 0.50% Unfunded | 8/28/2025 | Consumer Goods: Durable | 239 | — | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INW Manufacturing, LLC(n)(x) | INW Manufacturing, LLC(n)(x) | L+575, 0.75% LIBOR Floor | 5/7/2027 | Services: Business | 19,000 | 18,540 | 17,908 | INW Manufacturing, LLC(n)(x) | L+575, 0.75% LIBOR Floor | 3/25/2027 | Services: Business | 18,500 | 18,098 | 17,205 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC(n)(aa) | Ironhorse Purchaser, LLC(n)(aa) | S+650, 1.00% SOFR Floor | 9/30/2027 | Services: Business | 7,107 | 7,042 | 7,036 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC(aa) | Ironhorse Purchaser, LLC(aa) | S+650, 1.00% SOFR Floor | 9/30/2027 | Services: Business | 2,036 | 2,018 | 2,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC(aa) | Ironhorse Purchaser, LLC(aa) | S+650, 1.00% SOFR Floor | 9/30/2027 | Services: Business | 109 | 101 | 108 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC | Ironhorse Purchaser, LLC | 0.50% Unfunded | 9/30/2027 | Services: Business | 707 | — | (7) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Isagenix International, LLC(m)(x) | Isagenix International, LLC(m)(x) | L+775, 1.00% LIBOR Floor | 6/14/2025 | Beverage, Food & Tobacco | 16,229 | 15,021 | 13,064 | Isagenix International, LLC(m)(x) | L+775, 1.00% LIBOR Floor | 6/14/2025 | Beverage, Food & Tobacco | 16,229 | 15,192 | 13,916 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc.(t)(x) | L+900, 1.75% LIBOR Floor | 10/1/2024 | Services: Consumer | 11,789 | 11,749 | 9,465 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc.(q)(t)(x) | Jenny C Acquisition, Inc.(q)(t)(x) | L+900, 1.75% LIBOR Floor | 10/1/2024 | Services: Consumer | 11,789 | 11,745 | 2,358 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc.(t)(z) | Jenny C Acquisition, Inc.(t)(z) | S+800, 1.75% SOFR Floor | 10/1/2024 | Services: Consumer | 443 | 443 | 443 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JP Intermediate B, LLC(m)(x) | JP Intermediate B, LLC(m)(x) | L+550, 1.00% LIBOR Floor | 11/20/2025 | Beverage, Food & Tobacco | 13,667 | 13,514 | 10,341 | JP Intermediate B, LLC(m)(x) | L+550, 1.00% LIBOR Floor | 11/20/2025 | Beverage, Food & Tobacco | 13,208 | 13,082 | 7,837 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
K&N Parent, Inc.(t)(z) | K&N Parent, Inc.(t)(z) | S+825, 1.00% SOFR Floor | 8/14/2027 | Consumer Goods: Durable | 5,441 | 5,441 | 5,427 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
K&N Parent, Inc.(z) | K&N Parent, Inc.(z) | S+800, 1.00% SOFR Floor | 2/14/2027 | Consumer Goods: Durable | 4,263 | 4,111 | 4,439 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Klein Hersh, LLC(m)(t)(z) | Klein Hersh, LLC(m)(t)(z) | S+1139, 0.50% SOFR Floor | 4/27/2027 | Services: Business | 20,273 | 20,273 | 20,222 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KNB Holdings Corp.(q)(m)(y) | KNB Holdings Corp.(q)(m)(y) | L+550, 1.00% LIBOR Floor | 4/26/2024 | Consumer Goods: Durable | 7,634 | 7,387 | 1,651 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(t)(aa) | 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+628, 1.00% SOFR Floor | 10/31/2024 | Services: Business | 27,788 | 27,598 | 27,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(t)(aa) | 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 | LAV Gear Holdings, Inc.(m)(n)(t)(aa) | S+628, 1.00% SOFR Floor | 10/31/2024 | Services: Business | 4,558 | 4,555 | 4,541 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LGC US Finco, LLC(m)(w) | LGC US Finco, LLC(m)(w) | L+650, 1.00% LIBOR Floor | 12/20/2025 | Capital Equipment | 11,576 | 11,305 | 11,229 | LGC US Finco, LLC(m)(w) | L+650, 1.00% LIBOR Floor | 12/20/2025 | Capital Equipment | 11,454 | 11,225 | 11,124 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r)(w) | 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)(w) | L+750, 1.00% LIBOR Floor | 6/29/2025 | Services: Consumer | 23,228 | 23,228 | 23,228 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r)(t) | Lift Brands, Inc.(m)(n)(r)(t) | 9.50% | 6/29/2025 | Services: Consumer | 5,642 | 5,583 | 5,332 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r)(t) | Lift Brands, Inc.(m)(n)(r)(t) | 9.50% | 6/29/2025 | Services: Consumer | 5,296 | 4,982 | 4,648 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(aa) | 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+650, 1.00% SOFR Floor | 4/22/2026 | Services: Consumer | 17,759 | 17,670 | 17,404 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(aa) | 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.(m)(aa) | S+650, 1.00% SOFR Floor | 4/22/2026 | Services: Consumer | 7,890 | 7,823 | 7,732 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp. | MacNeill Pride Group Corp. | 1.00% Unfunded | 4/30/2024 | Services: Consumer | 2,017 | — | (30) | MacNeill Pride Group Corp. | 1.00% Unfunded | 4/30/2024 | Services: Consumer | 2,017 | — | (40) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Manus Bio Inc. | Manus Bio Inc. | 11.00% | 8/20/2026 | Healthcare & Pharmaceuticals | 14,850 | 14,757 | 14,850 | Manus Bio Inc. | 13.00% | 8/20/2026 | Healthcare & Pharmaceuticals | 13,719 | 13,644 | 13,719 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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.(m)(x) | Mimeo.com, Inc.(m)(x) | L+680, 1.00% LIBOR Floor | 12/21/2024 | Media: Advertising, Printing & Publishing | 22,156 | 22,156 | 21,990 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mimeo.com, Inc. | Mimeo.com, Inc. | 1.00% Unfunded | 12/21/2024 | Services: Business | 3,000 | — | (23) | Mimeo.com, Inc. | L+680, 1.00% LIBOR Floor | 12/21/2024 | Media: Advertising, Printing & Publishing | 2,256 | 2,256 | 2,239 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mimeo.com, Inc. | Mimeo.com, Inc. | 1.00% Unfunded | 12/21/2024 | Media: Advertising, Printing & Publishing | 3,000 | — | (23) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Moss Holding Company(m)(n)(t)(aa) | Moss Holding Company(m)(n)(t)(aa) | S+700, 1.00% SOFR Floor | 4/17/2024 | Services: Business | 19,627 | 19,535 | 18,891 | Moss Holding Company(m)(n)(t)(aa) | S+650, 1.00% SOFR Floor | 4/17/2024 | Services: Business | 19,526 | 19,464 | 18,842 |
Portfolio Company(a) | Portfolio Company(a) | Interest(b) | Maturity | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Moss Holding Company | Moss Holding Company | 0.50% Unfunded | 4/17/2023 | Services: Business | 2,232 | — | (84) | Moss Holding Company | 6.25% Unfunded | 4/17/2024 | Services: Business | 106 | — | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NASCO Healthcare Inc.(m)(x) | L+550, 1.00% LIBOR Floor | 6/30/2023 | Services: Business | 9,051 | 9,051 | 9,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Moss Holding Company | Moss Holding Company | 0.50% Unfunded | 4/17/2024 | Services: Business | 2,126 | — | (74) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Neptune Flood Inc.(m)(x) | 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 | Neptune Flood Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 10/21/2026 | Banking, Finance, Insurance & Real Estate | 6,208 | 6,175 | 6,270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NewsCycle Solutions, Inc.(m)(n)(x) | 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 | NewsCycle Solutions, Inc.(m)(n)(x) | S +700, 1.00% SOFR Floor | 12/29/2023 | Media: Advertising, Printing & Publishing | 12,413 | 12,408 | 12,413 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(m)(x) | 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(m)(x) | S+800, 1.00% SOFR Floor | 5/7/2026 | High Tech Industries | 12,688 | 12,611 | 12,577 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(x) | NWN Parent Holdings LLC(x) | L+650, 1.00% LIBOR Floor | 5/7/2026 | High Tech Industries | 810 | 792 | 805 | NWN Parent Holdings LLC(x) | S+800, 1.00% SOFR Floor | 5/7/2026 | High Tech Industries | 1,020 | 1,008 | 1,011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC | NWN Parent Holdings LLC | 0.50% Unfunded | 5/7/2026 | High Tech Industries | 990 | — | (6) | NWN Parent Holdings LLC | 0.50% Unfunded | 5/7/2026 | High Tech Industries | 480 | — | (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(m)(z) | 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(m)(z) | S+650, 1.00% SOFR Floor | 8/19/2027 | Healthcare & Pharmaceuticals | 11,315 | 11,205 | 11,315 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OpCo Borrower, LLC | OpCo Borrower, LLC | 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 | 1,042 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OpCo Borrower, LLC | 0.50% Unfunded | 8/19/2027 | Healthcare & Pharmaceuticals | 625 | — | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Optio Rx, LLC(m)(n)(w) | 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(m)(n)(w) | L+700, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 15,929 | 15,900 | 15,610 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Optio Rx, LLC(n)(w) | 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(n)(w) | L+1000, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 2,515 | 2,507 | 2,615 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Optio Rx, LLC(o) | 0.00% Unfunded | 12/21/2022 | Healthcare & Pharmaceuticals | 1,530 | — | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pentec Acquisition Corp.(m)(w) | Pentec Acquisition Corp.(m)(w) | L+600, 1.00% LIBOR Floor | 10/8/2026 | Healthcare & Pharmaceuticals | 24,813 | 24,605 | 24,564 | Pentec Acquisition Corp.(m)(w) | L+600, 1.00% LIBOR Floor | 10/8/2026 | Healthcare & Pharmaceuticals | 24,688 | 24,509 | 24,688 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PH Beauty Holdings III. Inc.(m)(x) | 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 | PH Beauty Holdings III. Inc.(m)(x) | L+500, 0.00% LIBOR Floor | 9/28/2025 | Consumer Goods: Non-Durable | 9,550 | 9,208 | 8,679 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Playboy Enterprises, Inc.(h)(n)(y) | 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 | Playboy Enterprises, Inc.(h)(n)(y) | L+625, 0.50% LIBOR Floor | 5/25/2027 | Consumer Goods: Non-Durable | 19,527 | 19,166 | 18,599 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Project Castle, Inc.(m)(aa) | Project Castle, Inc.(m)(aa) | S+550, 0.50% SOFR Floor | 6/1/2029 | Services: Business | 10,000 | 8,975 | 8,525 | Project Castle, Inc.(m)(aa) | S+550, 0.50% SOFR Floor | 6/1/2029 | Services: Business | 9,950 | 8,985 | 8,520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | 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(m)(aa) | S+675, 1.00% SOFR Floor | 4/8/2026 | Media: Diversified & Production | 10,979 | 10,979 | 10,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | RA Outdoors, LLC(m)(aa) | S+775, 1.00% SOFR Floor | 4/8/2026 | Media: Diversified & Production | 315 | 145 | 314 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RA Outdoors, LLC | RA Outdoors, LLC | 0.50% Unfunded | 4/8/2026 | Media: Diversified & Production | 1,049 | (170) | (3) | RA Outdoors, LLC | 0.50% Unfunded | 4/8/2026 | Media: Diversified & Production | 735 | — | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail Services WIS Corp.(m)(x) | Retail Services WIS Corp.(m)(x) | L+775, 1.00% LIBOR Floor | 5/20/2025 | Services: Business | 9,674 | 9,488 | 9,480 | Retail Services WIS Corp.(m)(x) | L+775, 1.00% LIBOR Floor | 5/20/2025 | Services: Business | 9,423 | 9,264 | 9,140 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P.(m)(t)(w) | 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 | Robert C. Hilliard, L.L.P.(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2023 | Services: Consumer | 1,890 | 1,890 | 1,890 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(m)(t)(ab) | Rogers Mechanical Contractors, LLC(m)(t)(ab) | S+800, 1.00% SOFR Floor | 9/9/2025 | Services: Business | 16,173 | 16,173 | 16,133 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC(t)(ab) | Rogers Mechanical Contractors, LLC(t)(ab) | S+800, 1.00% SOFR Floor | 9/9/2025 | Services: Business | 1,538 | 1,538 | 1,535 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC(m)(t)(ab) | Rogers Mechanical Contractors, LLC(m)(t)(ab) | S+800, 1.00% SOFR Floor | 9/9/2025 | Services: Business | 951 | 951 | 949 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | Rogers Mechanical Contractors, LLC | 1.00% Unfunded | 9/9/2025 | Services: Business | 1,923 | — | (5) | Rogers Mechanical Contractors, LLC | 1.00% Unfunded | 4/28/2023 | Services: Business | 962 | — | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | Rogers Mechanical Contractors, LLC | 0.75% Unfunded | 4/28/2023 | Services: Business | 2,885 | — | (7) | Rogers Mechanical Contractors, LLC | 0.75% Unfunded | 9/9/2025 | Services: Business | 865 | — | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RumbleOn, Inc.(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 4,193 | 4,145 | 3,994 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RumbleOn, Inc.(m)(x) | RumbleOn, Inc.(m)(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 13,860 | 12,994 | 13,202 | RumbleOn, Inc.(m)(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 13,284 | 12,542 | 12,587 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RumbleOn, Inc. | RumbleOn, Inc. | 0.00% Unfunded | 2/28/2023 | Automotive | 1,775 | — | (84) | RumbleOn, Inc. | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 4,019 | 3,992 | 3,808 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(m)(x) | Securus Technologies Holdings, Inc.(m)(x) | L+450, 1.00% LIBOR Floor | 11/1/2024 | Telecommunications | 3,878 | 3,337 | 3,873 | Securus Technologies Holdings, Inc.(m)(x) | L+450, 1.00% LIBOR Floor | 11/1/2024 | Telecommunications | 3,858 | 3,433 | 3,848 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sequoia Healthcare Management, LLC(m)(n)(q) | Sequoia Healthcare Management, LLC(m)(n)(q) | 12.75% | 8/21/2023 | Healthcare & Pharmaceuticals | 8,525 | 8,457 | 6,650 | Sequoia Healthcare Management, LLC(m)(n)(q) | 12.75% | 11/4/2023 | Healthcare & Pharmaceuticals | 8,525 | 8,456 | 10,720 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC(m)(t)(aa) | 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(m)(t)(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 23,091 | 22,763 | 23,091 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 349 | 235 | 344 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC(m)(aa) | Service Compression, LLC(m)(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 4,564 | 4,461 | 4,565 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC | Service Compression, LLC | 0.50% Unfunded | 5/6/2025 | Energy: Oil & Gas | 6,977 | — | (87) | Service Compression, LLC | 0.50% Unfunded | 5/6/2025 | Energy: Oil & Gas | 2,791 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sleep Opco, LLC(m)(x) | Sleep Opco, LLC(m)(x) | L+650, 1.00% LIBOR Floor | 10/12/2026 | Retail | 13,819 | 13,599 | 13,663 | Sleep Opco, LLC(m)(x) | L+650, 1.00% LIBOR Floor | 10/12/2026 | Retail | 13,739 | 13,539 | 13,619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sleep Opco, LLC | Sleep Opco, LLC | 0.50% Unfunded | 10/12/2026 | Retail | 1,750 | (29) | (20) | Sleep Opco, LLC | L+650, 1.00% LIBOR Floor | 10/12/2026 | Retail | 525 | 500 | 520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sleep Opco, LLC(m)(x) | Sleep Opco, LLC(m)(x) | L+700, 1.00%LIBOR Floor | 10/12/2026 | Retail | 400 | 394 | 397 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sleep Opco, LLC | Sleep Opco, LLC | 0.50% Unfunded | 10/12/2026 | Retail | 1,225 | — | (11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 1,136 | 1,136 | 784 | Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 13,855 | 13,851 | 7,343 |
Portfolio Company(a) | Portfolio Company(a) | Interest(b) | Maturity | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | 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 | 5/29/2023 | Healthcare & Pharmaceuticals | 1,231 | 1,231 | 603 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | 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 | 5/29/2023 | Healthcare & Pharmaceuticals | 586 | 586 | 592 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | 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 | 5/29/2023 | Healthcare & Pharmaceuticals | 791 | 710 | 388 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 10/1/2022 | Healthcare & Pharmaceuticals | 588 | 588 | 438 | Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 752 | 752 | 368 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 627 | 562 | 332 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC(r)(t)(z) | STATinMED, LLC(r)(t)(z) | S+950, 2.00% SOFR Floor | 7/1/2027 | Healthcare & Pharmaceuticals | 9,548 | 9,548 | 9,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC(r)(t)(z) | STATinMED, LLC(r)(t)(z) | S+950, 2.00% SOFR Floor | 7/1/2027 | Healthcare & Pharmaceuticals | 8,931 | 8,931 | 8,886 | STATinMED, LLC(r)(t)(z) | S+950, 2.00% SOFR Floor | 7/1/2027 | Healthcare & Pharmaceuticals | 160 | 157 | 162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrill Holdings LLC(m)(aa) | 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(m)(aa) | S+650, 1.00% SOFR Floor | 5/27/2027 | Media: Diversified & Production | 20,265 | 20,265 | 19,940 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrill Holdings LLC(aa) | Thrill Holdings LLC(aa) | S+650, 1.00% SOFR Floor | 5/27/2027 | Media: Diversified & Production | 1,739 | 1,739 | 1,730 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrill Holdings LLC | Thrill Holdings LLC | 1.00% Unfunded | 5/27/2024 | Media: Diversified & Production | 3,261 | — | (16) | 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trademark Global, LLC(m)(t)(w) | Trademark Global, LLC(m)(t)(w) | L+750, 1.00% LIBOR Floor | 7/30/2024 | Consumer Goods: Non-Durable | 15,492 | 15,460 | 15,027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trammell, P.C.(t)(z) | Trammell, P.C.(t)(z) | S+1550, 2.00% SOFR Floor | 4/28/2026 | Services: Consumer | 13,810 | 13,810 | 13,758 | Trammell, P.C.(t)(z) | S+1550, 2.00% SOFR Floor | 4/28/2026 | Services: Consumer | 13,129 | 13,129 | 13,096 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USALCO, LLC(m)(x) | USALCO, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 10/19/2027 | Chemicals, Plastics & Rubber | 24,813 | 24,596 | 24,719 | USALCO, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 10/19/2027 | Chemicals, Plastics & Rubber | 24,688 | 24,493 | 24,441 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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)(t)(aa) | Williams Industrial Services Group, Inc.(n)(t)(aa) | S+1100, 1.00% SOFR Floor | 12/16/2025 | Services: Business | 7,509 | 7,509 | 7,681 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc.(aa) | Williams Industrial Services Group, Inc.(aa) | S+1100, 1.00% SOFR Floor | 12/16/2025 | Services: Business | 429 | 429 | 686 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc. | Williams Industrial Services Group, Inc. | L+900, 1.00% LIBOR Floor | 12/16/2025 | Services: Business | 7,173 | 7,173 | 7,146 | Williams Industrial Services Group, Inc. | 1.00% Unfunded | 4/15/2023 | Services: Business | 1,000 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | Wok Holdings Inc.(m)(x) | L+650, 0.00% LIBOR Floor | 3/1/2026 | Beverage, Food & Tobacco | 25,170 | 24,347 | 22,307 | Wok Holdings Inc.(m)(x) | L+650, 0.00% LIBOR Floor | 3/1/2026 | Beverage, Food & Tobacco | 25,039 | 24,329 | 22,661 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WorkGenius, Inc.(m)(aa) | WorkGenius, Inc.(m)(aa) | S+700, 0.50% SOFR Floor | 6/7/2027 | Services: Business | 12,969 | 12,969 | 12,969 | WorkGenius, Inc.(m)(aa) | S+700, 0.50% SOFR Floor | 6/7/2027 | Services: Business | 10,411 | 10,411 | 10,411 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WorkGenius, Inc.(aa) | WorkGenius, Inc.(aa) | S+700, 0.50% SOFR Floor | 6/7/2027 | Services: Business | 180 | 166 | 180 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WorkGenius, Inc. | WorkGenius, Inc. | 0.50% Unfunded | 6/7/2027 | Services: Business | 570 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Xenon Arc, Inc.(m)(x) | Xenon Arc, Inc.(m)(x) | L+525, 0.75% LIBOR Floor | 12/17/2027 | High Tech Industries | 6,933 | 6,859 | 6,846 | Xenon Arc, Inc.(m)(x) | L+525, 0.75% LIBOR Floor | 12/17/2027 | High Tech Industries | 3,905 | 3,869 | 3,866 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yak Access, LLC(m)(x) | L+500, 0.00% LIBOR Floor | 7/11/2025 | Construction & Building | 4,925 | 3,188 | 3,208 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yak Access, LLC(m)(aa) | Yak Access, LLC(m)(aa) | S+640, 1.00% SOFR Floor | 3/10/2028 | Construction & Building | 2,972 | 2,972 | 2,976 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | Total Senior Secured First Lien Debt | 1,690,919 | 1,616,352 | Total Senior Secured First Lien Debt | 1,567,330 | 1,472,453 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt - 4.7% | Senior Secured Second Lien Debt - 4.7% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Global Tel*Link Corp.(n)(aa) | Global Tel*Link Corp.(n)(aa) | S+1000, 0.00% SOFR Floor | 11/29/2026 | Telecommunications | 11,500 | 11,374 | 11,471 | Global Tel*Link Corp.(n)(aa) | S+1000, 0.00% SOFR Floor | 11/29/2026 | Telecommunications | 11,500 | 11,386 | 11,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(m) | OpCo Borrower, LLC(m) | 12.50% | 2/19/2028 | Healthcare & Pharmaceuticals | 12,500 | 11,625 | 11,375 | OpCo Borrower, LLC(m) | 12.50% | 2/19/2028 | Healthcare & Pharmaceuticals | 12,500 | 11,697 | 11,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premiere Global Services, Inc.(q)(t)(x) | L+950, 1.00% LIBOR | 6/6/2024 | Telecommunications | 3,968 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | RA Outdoors, LLC(m)(aa) | S+900, 1.00% SOFR Floor | 10/8/2026 | Media: Diversified & Production | 1,827 | 1,827 | 1,827 | RA Outdoors, LLC(m)(aa) | S+900, 1.00% SOFR Floor | 10/8/2026 | Media: Diversified & Production | 1,823 | 1,823 | 1,820 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(x) | Securus Technologies Holdings, Inc.(x) | L+825, 1.00% LIBOR Floor | 11/1/2025 | Telecommunications | 2,942 | 2,927 | 2,910 | Securus Technologies Holdings, Inc.(x) | L+825, 1.00% LIBOR Floor | 11/1/2025 | Telecommunications | 2,942 | 2,929 | 2,884 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TMK Hawk Parent, Corp.(x) | TMK Hawk Parent, Corp.(x) | L+800, 1.00% LIBOR Floor | 8/28/2025 | Services: Business | 13,393 | 13,235 | 11,133 | TMK Hawk Parent, Corp.(x) | L+800, 1.00% LIBOR Floor | 8/28/2025 | Services: Business | 13,393 | 13,267 | 11,350 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | Total Senior Secured Second Lien Debt | 40,988 | 38,716 | Total Senior Secured Second Lien Debt | 41,102 | 38,997 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity - 0.1% | Collateralized Securities and Structured Products - Equity - 0.1% | Collateralized Securities and Structured Products - Equity - 0.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,247 | 59 | APIDOS CLO XVI Subordinated Notes(g)(h) | 0.00% Estimated Yield | 1/19/2025 | Diversified Financials | 9,000 | 1,217 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h) | 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 | Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h) | 19.30% Estimated Yield | 4/15/2025 | Diversified Financials | 4,000 | 1,389 | 1,085 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | Total Collateralized Securities and Structured Products - Equity | 2,733 | 1,366 | Total Collateralized Securities and Structured Products - Equity | 2,606 | 1,133 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured Debt - 1.9% | Unsecured Debt - 1.9% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC(q)(t) | Lucky Bucks Holdings LLC(q)(t) | 12.50% | 5/29/2028 | Hotel, Gaming & Leisure | 23,572 | 22,860 | 8,132 |
Portfolio Company(a) | Portfolio Company(a) | Interest | Maturity | 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% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | WPLM Acquisition Corp.(t) | 15.00% | 11/24/2025 | Media: Advertising, Printing & Publishing | 7,623 | 7,571 | 7,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Unsecured Debt | Total Unsecured Debt | 28,738 | 28,319 | Total Unsecured Debt | 30,431 | 15,517 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity - 12.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity - 15.5% | Equity - 15.5% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | 416 | 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 | 1,278 | Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 1,074 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | Carestream Health Holdings Inc., Common Stock(o)(r) | Healthcare & Pharmaceuticals | 613,262 Units | 21,758 | 19,710 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CF Arch Holdings LLC(o) | Services: Business | 380,952 Units | 381 | 381 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 35,169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CF Arch Holdings LLC, Class A Units(o) | CF Arch Holdings LLC, Class A Units(o) | Services: Business | 380,952 Units | 381 | 457 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(s) | CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 25,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 165 | DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A2 Preferred Stock(o) | DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 14 | DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A Preferred Stock(o) | DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 12 | DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series B Preferred Stock(o) | DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 14 | DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Common Stock(o) | DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | 2 | 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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FWS Parent Holdings, LLC, Class A Membership Interests(o) | FWS Parent Holdings, LLC, Class A Membership Interests(o) | Services: Business | 35,242 Units | 800 | 707 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 80 | Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Retail | 1,000,000 Units | 1,000 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 B-2 Preferred Units(m)(o) | Retail | 2,632,771 Units | 2,133 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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, Class C Preferred Units(m)(o) | Retail | 2,632,771 Units | 2,633 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
K&N Holdco, LLC, Membership Units(o) | K&N Holdco, LLC, Membership Units(o) | Consumer Goods: Durable | 458,364 Units | 8,355 | 6,867 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 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 | Language Education Holdings LP, Ordinary Common Units(o)(r) | Services: Business | 366,667 Units | 825 | 1,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 22,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC, Membership Units(r) | Longview Intermediate Holdings C, LLC, Membership Units(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 22,680 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2,333 | Mount Logan Capital Inc., Common Stock(f)(h)(r) | Banking, Finance, Insurance & Real Estate | 1,075,557 Units | 3,534 | 2,204 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Giving Acquisition, Inc.(o) | Healthcare & Pharmaceuticals | 4,630 Units | 633 | 602 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Giving Acquisition, Inc., Warrants(o) | New Giving Acquisition, Inc., Warrants(o) | Healthcare & Pharmaceuticals | 4,630 Units | 633 | 1,152 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Class A Preferred Units(o) | NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 2,053 | NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 1,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Non-Voting Units(o) | High Tech Industries | 346 Units | 393 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Holdco LLC, Voting Units(o) | High Tech Industries | 522 Units | 504 | 453 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Common Equity(o) | NS NWN Acquisition, LLC, Common Equity(o) | High Tech Industries | 346 Units | 393 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NS NWN Holdco LLC, Non-Voting Units(o) | NS NWN Holdco LLC, Non-Voting Units(o) | High Tech Industries | 522 Units | 504 | 227 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 636 | NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 909 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palmetto Clean Technology, Inc., Warrants(o) | Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 471 | 4,279 | Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 471 | 3,577 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RumbleOn, Inc., Warrants(o) | RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 147 | RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC, Warrants(o) | Service Compression, LLC, Warrants(o) | Energy: Oil & Gas | N/A | 509 | 624 | Service Compression, LLC, Warrants(o) | Energy: Oil & Gas | N/A | 509 | 827 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 5,184 |
Portfolio Company(a) | Portfolio Company(a) | Interest | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | Portfolio Company(a) | Interest | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Warrants(o)(r) | Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 2,101 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SRA Holdings, LLC, Membership Units(m)(o)(r) | SRA Holdings, LLC, Membership Units(m)(o)(r) | Banking, Finance, Insurance & Real Estate | 224,865 Units | 23,611 | 23,577 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC, Class A Preferred Units(o)(r) | STATinMed Parent, LLC, Class A Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 6,182 Units | 6,182 | 5,237 | STATinMed Parent, LLC, Class A Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 6,182 Units | 6,182 | 3,076 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC, Class B Preferred Units(o)(r) | STATinMed Parent, LLC, Class B Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 51,221 Units | 3,193 | 705 | STATinMed Parent, LLC, Class B Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 51,221 Units | 3,193 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | WorkGenius, LLC, Class A Units(o) | Services: Business | 500 Units | 500 | 506 | WorkGenius, LLC, Class A Units(o) | Services: Business | 500 Units | 500 | 512 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yak Holding II, LLC, Series A Preferred Units(o) | Yak Holding II, LLC, Series A Preferred Units(o) | Construction & Building | 4,000,000 Units | 2,000 | 4,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yak Holding II, LLC, Series B-1 Preferred Units(o) | Yak Holding II, LLC, Series B-1 Preferred Units(o) | Construction & Building | 1,966,018 Units | 1,966 | 1,907 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yak Holding II, LLC, Series A Common Units(o) | Yak Holding II, LLC, Series A Common Units(o) | Construction & Building | 127,419 Units | — | 99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 78,795 | 112,491 | Total Equity | 115,514 | 128,926 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short Term Investments - 1.1%(k) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short Term Investments - 8.0%(k) | Short Term Investments - 8.0%(k) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares | First American Treasury Obligations Fund, Class Z Shares | 2.83%(l) | 9,804 | 9,804 | First American Treasury Obligations Fund, Class Z Shares | 4.67%(l) | 66,326 | 66,326 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Short Term Investments | Total Short Term Investments | 9,804 | 9,804 | Total Short Term Investments | 66,326 | 66,326 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 197.5% | $ | 1,851,977 | 1,807,048 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (97.5)% | (892,142) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 207.6% | TOTAL INVESTMENTS - 207.6% | $ | 1,823,309 | 1,723,352 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (107.6)% | LIABILITIES IN EXCESS OF OTHER ASSETS - (107.6)% | (893,042) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET ASSETS - 100.0% | NET ASSETS - 100.0% | $ | 914,906 | NET ASSETS - 100.0% | $ | 830,310 |
Three Months Ended March 31, 2023 | Three Months Ended March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-Controlled, Affiliated Investments | Fair Value at December 31, 2022 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at March 31, 2023 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||
Afore Insurance Services, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | $ | — | $ | 4,583 | $ | — | $ | (11) | $ | 4,572 | $ | — | $ | 15 | $ | — | ||||||||||||||||||||||||||||||||||
ARC Financial, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Interests | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 7,539 | 4 | — | (23) | 7,520 | — | 235 | — | ||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | 21,544 | — | — | (1,834) | 19,710 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
DESG Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 246 | — | (82) | (34) | 130 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental Term Loan | 154 | 2 | (6) | — | 150 | — | 5 | — | ||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan A | 2,064 | 7 | — | 23 | 2,094 | — | 67 | — | ||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan B | 388 | 23 | — | 201 | 612 | — | 26 | — | ||||||||||||||||||||||||||||||||||||||||||
Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Instant Web Holdings, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Common Units | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Revolving Loan | 321 | 865 | — | (14) | 1,172 | — | 23 | — | ||||||||||||||||||||||||||||||||||||||||||
Priming Term Loan | 469 | — | — | — | 469 | — | 13 | — | ||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 28,167 | 1,183 | — | (4,503) | 24,847 | — | 1,171 | — | ||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan | — | — | — | (16) | (16) | — | 4 | — | ||||||||||||||||||||||||||||||||||||||||||
Lift Brands, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan A | 23,287 | — | (59) | — | 23,228 | — | 701 | — | ||||||||||||||||||||||||||||||||||||||||||
Term Loan B | 5,154 | 93 | — | 85 | 5,332 | — | 139 | — | ||||||||||||||||||||||||||||||||||||||||||
Term Loan C | 4,732 | 34 | — | (118) | 4,648 | — | 160 | — | ||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Units | 23,995 | — | — | (1,315) | 22,680 | — | — | 3,881 | ||||||||||||||||||||||||||||||||||||||||||
Longview Power, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 2,348 | — | (1,389) | (959) | — | — | 1,306 | — | ||||||||||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | 2,341 | — | — | (137) | 2,204 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Stock | 5,123 | — | — | 61 | 5,184 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Warrants | 2,077 | — | — | 24 | 2,101 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
SRA Holdings, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Units | — | 23,611 | — | (34) | 23,577 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | 9,107 | 326 | — | (100) | 9,333 | — | 334 | — | ||||||||||||||||||||||||||||||||||||||||||
Delayed Draw First Lien Term Loan | 156 | 4 | — | 2 | 162 | — | 6 | — | ||||||||||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Preferred Units | 4,530 | — | — | (1,454) | 3,076 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Class B Preferred Units | 134 | — | — | (134) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Totals | $ | 143,876 | $ | 30,735 | $ | (1,536) | $ | (10,290) | $ | 162,785 | $ | — | $ | 4,205 | $ | 3,881 |
Three Months Ended March 31, 2023 | Three Months Ended March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||
Controlled Investments | Fair Value at December 31, 2022 | Gross Additions (Cost)(1) | Gross Reductions (Cost)(2) | Net Unrealized Gain (Loss) | Fair Value at March 31, 2023 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Note | $ | 60,348 | $ | — | $ | (5,521) | $ | — | $ | 54,827 | $ | — | $ | 1,977 | $ | — | ||||||||||||||||||||||||||||||||||
Participating Preferred Shares | 30,766 | — | — | (5,002) | 25,764 | — | — | 4,250 | ||||||||||||||||||||||||||||||||||||||||||
Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Totals | $ | 91,114 | $ | — | $ | (5,521) | $ | (5,002) | $ | 80,591 | $ | — | $ | 1,977 | $ | 4,250 |
Interest Rate | ||||||||||||||||||||||||||
Portfolio Company | Investment Type | Cash | PIK | All-in-Rate | ||||||||||||||||||||||
Adapt Laser Acquisition, Inc. | Senior Secured First Lien Debt | 14.73% | 2.00% | 16.73% | ||||||||||||||||||||||
American Clinical Solutions LLC | Senior Secured First Lien Debt | 7.00% | 4.81% | 11.81% | ||||||||||||||||||||||
American Consolidated Natural Resources, Inc. | Senior Secured First Lien Debt | 17.82% | 3.00% | 20.82% | ||||||||||||||||||||||
Ancile Solutions, Inc. | Senior Secured First Lien Debt | 12.14% | 3.00% | 15.14% | ||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Senior Secured First Lien Debt | 11.91% | 2.75% | 14.66% | ||||||||||||||||||||||
Cadence Aerospace, LLC | Senior Secured First Lien Debt | 11.33% | 2.00% | 13.33% | ||||||||||||||||||||||
CION/EagleTree Partners, LLC | Senior Secured Note | — | 14.00% | 14.00% | ||||||||||||||||||||||
David's Bridal, LLC | Senior Secured First Lien Debt | 9.82% | 5.00% | 14.82% | ||||||||||||||||||||||
David's Bridal, LLC | Senior Secured First Lien Debt | 1.00% | 9.83% | 10.83% | ||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Senior Secured First Lien Debt | 10.16% | 1.50% | 11.66% | ||||||||||||||||||||||
Fusion Connect Inc. | Senior Secured First Lien Debt | 12.29% | 1.00% | 13.29% | ||||||||||||||||||||||
GSC Technologies Inc. | Senior Secured First Lien Debt | — | 9.66% | 9.66% | ||||||||||||||||||||||
GSC Technologies Inc. | Senior Secured First Lien Debt | 9.66% | 5.00% | 14.66% | ||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP | Senior Secured First Lien Debt | — | 16.78% | 16.78% | ||||||||||||||||||||||
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% | ||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 17.00% | 17.00% | ||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 14.95% | 14.95% | ||||||||||||||||||||||
Instant Web, LLC | Senior Secured First Lien Debt | — | 11.85% | 11.85% | ||||||||||||||||||||||
K&N Parent, Inc. | Senior Secured First Lien Debt | 8.17% | 5.00% | 13.17% | ||||||||||||||||||||||
Klein Hersh, LLC | Senior Secured First Lien Debt | 4.55% | 12.00% | 16.55% | ||||||||||||||||||||||
Lift Brands, Inc. | Senior Secured First Lien Debt | — | 9.50% | 9.50% | ||||||||||||||||||||||
Lucky Bucks Holdings LLC | Unsecured Note | — | 12.50% | 12.50% | ||||||||||||||||||||||
Robert C. Hilliard, L.L.P. | Senior Secured First Lien Debt | — | 16.78% | 16.78% | ||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | Senior Secured First Lien Debt | 11.70% | 1.00% | 12.70% | ||||||||||||||||||||||
Service Compression, LLC | Senior Secured First Lien Debt | 12.91% | 2.00% | 14.91% | ||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc. | Senior Secured First Lien Debt | — | 14.25% | 14.25% | ||||||||||||||||||||||
STATinMED, LLC | Senior Secured First Lien Debt | — | 14.28% | 14.28% | ||||||||||||||||||||||
Trademark Global, LLC | Senior Secured First Lien Debt | 7.84% | 4.50% | 12.34% | ||||||||||||||||||||||
Trammell, P.C. | Senior Secured First Lien Debt | — | 19.94% | 19.94% | ||||||||||||||||||||||
Williams Industrial Services Group, Inc. | Senior Secured First Lien Debt | 10.86% | 5.00% | 15.86% | ||||||||||||||||||||||
WPLM Acquisition Corp. | Unsecured Note | — | 15.00% | 15.00% | ||||||||||||||||||||||
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Senior Secured First Lien Debt - 178.8% | ||||||||||||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(x) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | $ | 11,047 | $ | 11,048 | $ | 10,329 | |||||||||||||||||||||||||||||
Adapt Laser Acquisition, Inc.(t)(x) | L+1200, 1.00% LIBOR Floor | 12/31/2023 | Capital Equipment | 2,072 | 2,072 | 1,875 | ||||||||||||||||||||||||||||||||
AHF Parent Holding, Inc.(n)(aa) | S+625, 0.75% SOFR Floor | 2/1/2028 | Construction & Building | 2,944 | 2,891 | 2,771 | ||||||||||||||||||||||||||||||||
Allen Media, LLC(n)(aa) | S+550, 0.00% SOFR Floor | 2/10/2027 | Media: Diversified & Production | 8,863 | 8,793 | 8,420 | ||||||||||||||||||||||||||||||||
ALM Media, LLC(m)(n)(x) | L+650, 1.00% LIBOR Floor | 11/25/2024 | Media: Advertising, Printing & Publishing | 17,000 | 16,855 | 17,000 | ||||||||||||||||||||||||||||||||
American Clinical Solutions LLC(m)(t)(w) | L+700, 1.00% LIBOR Floor | 12/31/2024 | Healthcare & Pharmaceuticals | 4,250 | 4,250 | 4,122 | ||||||||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc.(m)(t)(x) | L+1600, 1.00% LIBOR Floor | 9/16/2025 | Metals & Mining | 47 | 35 | 47 | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc.(m)(y) | L+600, 1.00% LIBOR Floor | 11/19/2026 | Services: Business | 16,542 | 16,407 | 16,542 | ||||||||||||||||||||||||||||||||
American Health Staffing Group, Inc. | 0.50% Unfunded | 11/19/2026 | Services: Business | 3,333 | (26) | — | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(o)(q) | 0.50% Unfunded | 1/31/23 | Telecommunications | 235 | — | — | ||||||||||||||||||||||||||||||||
American Teleconferencing Services, Ltd.(q) | Prime+550 | 1/31/23 | Telecommunications | 3,116 | 3,116 | 156 | ||||||||||||||||||||||||||||||||
Analogic Corp.(m)(n)(x) | L+525, 1.00% LIBOR Floor | 6/21/2024 | Healthcare & Pharmaceuticals | 4,850 | 4,823 | 4,795 | ||||||||||||||||||||||||||||||||
Ancile Solutions, Inc.(m)(t)(x) | L+1000, 1.00% LIBOR Floor | 6/11/2026 | High Tech Industries | 11,967 | 11,681 | 11,608 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(m)(t)(x) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 36,914 | 36,749 | 35,161 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc.(x) | L+950, 1.00% LIBOR Floor | 11/15/2026 | Media: Diversified & Production | 3,000 | 3,000 | 2,857 | ||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | 0.50% Unfunded | 11/15/2026 | Media: Diversified & Production | 167 | — | (8) | ||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(w) | L+500, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 11,137 | 10,625 | 10,733 | ||||||||||||||||||||||||||||||||
Appalachian Resource Company, LLC(w) | L+1000, 1.00% LIBOR Floor | 9/10/2023 | Metals & Mining | 5,000 | 5,000 | 5,000 | ||||||||||||||||||||||||||||||||
Archer Systems, LLC(m)(z) | S+650, 1.00% SOFR Floor | 8/11/2027 | Services: Business | 18,095 | 17,922 | 17,937 | ||||||||||||||||||||||||||||||||
Archer Systems, LLC | 0.50% Unfunded | 8/11/2027 | Services: Business | 1,905 | (18) | (17) | ||||||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC(m)(n)(w) | L+525, 1.00% LIBOR Floor | 4/5/2024 | Construction & Building | 14,221 | 14,051 | 10,994 | ||||||||||||||||||||||||||||||||
Atlas Supply LLC | 11.00% | 4/29/2025 | Healthcare & Pharmaceuticals | 5,000 | 5,000 | 4,950 | ||||||||||||||||||||||||||||||||
Avison Young (USA) Inc.(h)(m)(w) | S+575, 0.00% SOFR Floor | 1/31/2026 | Banking, Finance, Insurance & Real Estate | 2,665 | 2,638 | 2,505 | ||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC(m)(aa) | S+625, 1.00% SOFR Floor | 2/7/2027 | Services: Business | 17,822 | 17,535 | 17,466 | ||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC(aa) | S+625, 1.00% SOFR Floor | 2/7/2027 | Services: Business | 859 | 802 | 842 | ||||||||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | 0.50% Unfunded | 2/7/2027 | Services: Business | 1,998 | — | (40) | ||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc.(r)(z) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | 13,800 | 12,992 | 13,179 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp.(m)(w) | L+ 575, 1.00% LIBOR Floor | 10/21/2027 | Consumer Goods: Durable | 13,024 | 12,746 | 12,650 | ||||||||||||||||||||||||||||||||
Bradshaw International Parent Corp. | 0.50% Unfunded | 10/21/2026 | Consumer Goods: Durable | 1,844 | (36) | (53) |
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 | 22,073 | 21,772 | 21,742 | ||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC(m)(n)(t)(x) | L+850, 1.00% LIBOR Floor | 11/14/2023 | Aerospace & Defense | 39,383 | 39,225 | 38,842 | ||||||||||||||||||||||||||||||||
Carestream Health, Inc.(n)(r)(z) | S+750, 1.00% SOFR Floor | 9/30/2027 | Healthcare & Pharmaceuticals | 7,596 | 7,596 | 7,539 | ||||||||||||||||||||||||||||||||
CB URS Holdings Corp.(m)(x) | L+575, 1.00% LIBOR Floor | 9/1/2024 | Transportation: Cargo | 14,826 | 14,801 | 12,417 | ||||||||||||||||||||||||||||||||
Celerity Acquisition Holdings, LLC(m)(x) | L+850, 1.00% LIBOR Floor | 5/28/2026 | Services: Business | 14,775 | 14,775 | 14,590 | ||||||||||||||||||||||||||||||||
Cennox, Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 22,509 | 22,509 | 22,425 | ||||||||||||||||||||||||||||||||
Cennox, Inc.(n)(x) | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 11,787 | 11,730 | 11,743 | ||||||||||||||||||||||||||||||||
Cennox, Inc. | L+600, 1.00% LIBOR Floor | 5/4/2026 | Services: Business | 2,614 | 2,614 | 2,604 | ||||||||||||||||||||||||||||||||
Cennox, Inc. | 1.00% Unfunded | 8/11/2023 | Services: Business | 7,193 | — | (27) | ||||||||||||||||||||||||||||||||
Cennox, Inc. | 0.50% Unfunded | 5/4/2026 | Services: Business | 373 | — | (1) | ||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC(h)(s)(t) | 14.00% | 12/21/2026 | Diversified Financials | 60,348 | 60,348 | 60,348 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(n)(w) | L+550, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 26,824 | 26,782 | 26,824 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 1/16/2024 | Hotel, Gaming & Leisure | 2,737 | 2,715 | 2,737 | ||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC(m)(w) | L+550, 1.00% LIBOR Floor | 7/16/2023 | Hotel, Gaming & Leisure | 1,560 | 1,525 | 1,862 | ||||||||||||||||||||||||||||||||
Community Tree Service, LLC(m)(aa) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 12,469 | 12,469 | 12,219 | ||||||||||||||||||||||||||||||||
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 | 34,038 | 33,861 | 33,612 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC(n)(x) | L+800, 1.00% LIBOR Floor | 8/6/2026 | Chemicals, Plastics & Rubber | 6,125 | 6,041 | 6,125 | ||||||||||||||||||||||||||||||||
Coyote Buyer, LLC | 0.50% Unfunded | 2/6/2025 | Chemicals, Plastics & Rubber | 2,500 | — | (31) | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 12,928 | 12,928 | 12,928 | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(x) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 999 | 999 | 999 | ||||||||||||||||||||||||||||||||
Critical Nurse Staffing, LLC(w) | L+600, 1.00% LIBOR Floor | 11/1/2026 | Healthcare & Pharmaceuticals | 300 | 300 | 300 | ||||||||||||||||||||||||||||||||
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 | 700 | — | — | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(m)(t)(x) | L+1000, 1.00% LIBOR Floor | 5/23/2024 | Retail | 13,000 | 12,744 | 13,130 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(x) | L+1000, 1.00% LIBOR Floor | 5/23/2024 | Retail | 5,357 | 5,357 | 5,210 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(t)(x) | L+1000, 1.00% LIBOR Floor | 12/23/2024 | Retail | 5,936 | 5,717 | 2,256 | ||||||||||||||||||||||||||||||||
David's Bridal, LLC(q)(t)(w) | L+700, 1.00% LIBOR Floor | 12/31/2024 | Retail | 845 | 795 | 51 | ||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(x) | L+650, 1.00% LIBOR Floor | 3/25/2024 | Media: Diversified & Production | 2,664 | 2,624 | 246 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC(m)(z) | S+600, 1.00% SOFR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 9,356 | 9,178 | 9,297 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC(z) | S+600, 1.00% SOFR Floor | 4/22/2028 | Healthcare & Pharmaceuticals | 3,540 | 3,458 | 3,518 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC | Prime+500 | 4/22/2028 | Healthcare & Pharmaceuticals | 179 | 179 | 178 | ||||||||||||||||||||||||||||||||
Dermcare Management, LLC | 0.50% Unfunded | 10/22/2023 | Healthcare & Pharmaceuticals | 698 | — | (4) |
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 | — | (7) | ||||||||||||||||||||||||||||||||
DMT Solutions Global Corp.(n)(u) | L+750, 1.00% LIBOR Floor | 7/2/2024 | Services: Business | 3,974 | 3,942 | 3,766 | ||||||||||||||||||||||||||||||||
Emerald Technologies (U.S.) Acquisitionco, Inc.(n)(z) | S+625, 1.00% SOFR Floor | 12/29/2027 | Services: Business | 2,944 | 2,891 | 2,794 | ||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(m)(x)(aa) | S+850, 1.00% SOFR Floor | 9/28/2027 | Media: Diversified & Production | 24,000 | 23,907 | 23,940 | ||||||||||||||||||||||||||||||||
Entertainment Studios P&A LLC(j) | 5.00% | 5/18/2037 | Media: Diversified & Production | — | — | 1,654 | ||||||||||||||||||||||||||||||||
Flatworld Intermediate Corp.(n)(z) | S+600, 1.00% SOFR Floor | 10/3/2027 | Services: Business | 25,135 | 25,135 | 25,135 | ||||||||||||||||||||||||||||||||
Flatworld Intermediate Corp. | 0.50% Unfunded | 10/3/2027 | Services: Business | 5,865 | — | — | ||||||||||||||||||||||||||||||||
FuseFX, LLC(m)(n)(w) | S+575, 1.00% SOFR Floor | 10/1/2024 | Media: Diversified & Production | 19,795 | 19,663 | 19,647 | ||||||||||||||||||||||||||||||||
Fusion Connect Inc.(m)(t)(x) | L+850, 1.00% LIBOR Floor | 1/18/2027 | High Tech Industries | 19,626 | 19,141 | 19,626 | ||||||||||||||||||||||||||||||||
Future Pak, LLC(m)(w) | L+1000, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 24,169 | 24,169 | 23,776 | ||||||||||||||||||||||||||||||||
Gold Medal Holdings, Inc.(m)(aa) | S+700, 1.00% SOFR Floor | 3/17/2027 | Services: Business | 14,759 | 14,628 | 14,575 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 2,404 | 2,322 | 2,064 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(w) | L+500, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 915 | 882 | 388 | ||||||||||||||||||||||||||||||||
GSC Technologies Inc.(r)(t)(x) | L+1000, 1.00% LIBOR Floor | 9/30/2025 | Chemicals, Plastics & Rubber | 154 | 154 | 154 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(m)(x) | L+575, 1.00% LIBOR Floor | 7/2/2027 | Construction & Building | 8,850 | 8,779 | 8,850 | ||||||||||||||||||||||||||||||||
H.W. Lochner, Inc.(m)(aa) | S+675, 1.00% SOFR Floor | 7/2/2027 | Construction & Building | 7,457 | 7,234 | 7,233 | ||||||||||||||||||||||||||||||||
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) | S+775, 1.00% SOFR Floor | 6/16/2026 | Services: Business | 9,186 | 9,177 | 7,625 | ||||||||||||||||||||||||||||||||
Heritage Power, LLC(x) | L+600, 1.00% LIBOR Floor | 7/30/2026 | Energy: Oil & Gas | 8,622 | 6,837 | 4,527 | ||||||||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2023 | Services: Consumer | 21,798 | 21,736 | 21,798 | ||||||||||||||||||||||||||||||||
Hollander Intermediate LLC(m)(w)(aa) | S+875, 2.00% SOFR Floor | 9/19/2026 | Consumer Goods: Durable | 17,358 | 16,915 | 16,794 | ||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(m)(t) | 15.00% | 4/5/2023 | Energy: Oil & Gas | 11,782 | 12,078 | 9,308 | ||||||||||||||||||||||||||||||||
Homer City Generation, L.P. | 17.00% | 5/31/2023 | Energy: Oil & Gas | 1,000 | 1,000 | 1,000 | ||||||||||||||||||||||||||||||||
Homer City Generation, L.P.(o) | 0.00% Unfunded | 1/29/2023 | Energy: Oil & Gas | 3,000 | — | — | ||||||||||||||||||||||||||||||||
Hudson Hospital Opco, LLC(m)(n)(aa) | S+800, 3.00% SOFR Floor | 11/4/2023 | Healthcare & Pharmaceuticals | 1,700 | 1,667 | 1,673 | ||||||||||||||||||||||||||||||||
HUMC Holdco, LLC(m)(aa) | S+800, 3.00% SOFR Floor | 11/4/2023 | Healthcare & Pharmaceuticals | 7,933 | 7,933 | 7,933 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC | Prime+500 | 9/28/2026 | Capital Equipment | 733 | 711 | 686 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC(m) | Prime+500 | 9/28/2026 | Capital Equipment | 18,876 | 18,725 | 17,649 | ||||||||||||||||||||||||||||||||
HW Acquisition, LLC | 0.50% Unfunded | 9/28/2026 | Capital Equipment | 2,200 | — | (143) | ||||||||||||||||||||||||||||||||
ICA Foam Holdings, LLC(m)(aa) | S+675, 1.00% SOFR Floor | 11/5/2025 | Containers, Packaging & Glass | 19,950 | 19,567 | 19,551 | ||||||||||||||||||||||||||||||||
IJKG Opco LLC(m)(n)(aa) | S+800, 3.00% SOFR Floor | 11/4/2023 | Healthcare & Pharmaceuticals | 729 | 714 | 718 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t) | 6.00% | 11/20/2023 | Retail | 10,934 | 10,906 | 10,169 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t) | Prime+550 | 2/27/2023 | Retail | 2,238 | 2,238 | 2,216 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t)(aa) | S+1000, 1.00% SOFR Floor | 2/27/2023 | Retail | 473 | 459 | 473 | ||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC(t)(x) | L+650, 0.00% LIBOR Floor | 2/27/2023 | Retail | 281 | 281 | 278 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
InfoGroup Inc.(m)(n)(x) | L+500, 1.00% LIBOR Floor | 4/3/2023 | Media: Advertising, Printing & Publishing | 15,270 | 15,269 | 15,270 | ||||||||||||||||||||||||||||||||
Inotiv, Inc.(m)(x) | S+625, 1.00% SOFR Floor | 11/5/2026 | Healthcare & Pharmaceuticals | 16,351 | 16,094 | 15,738 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(m)(n)(r)(t)(w) | L+700, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 39,812 | 39,802 | 28,167 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | Prime+375 | 2/25/2027 | Media: Advertising, Printing & Publishing | 458 | 458 | 469 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r)(x) | L+650, 1.00% LIBOR Floor | 2/25/2027 | Media: Advertising, Printing & Publishing | 321 | 321 | 321 | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | 0.50% Unfunded | 2/25/2027 | Media: Advertising, Printing & Publishing | 2,383 | — | — | ||||||||||||||||||||||||||||||||
Instant Web, LLC(r) | 0.50% Unfunded | 2/25/2027 | Media: Advertising, Printing & Publishing | 3,246 | — | — | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(m)(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 13,536 | 13,444 | 13,469 | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC(x) | L+650, 1.50% LIBOR Floor | 8/28/2025 | Consumer Goods: Durable | 239 | 239 | 238 | ||||||||||||||||||||||||||||||||
Invincible Boat Company LLC | 0.50% Unfunded | 8/28/2025 | Consumer Goods: Durable | 559 | — | (3) | ||||||||||||||||||||||||||||||||
INW Manufacturing, LLC(n)(x) | L+575, 0.75% LIBOR Floor | 3/25/2027 | Services: Business | 18,750 | 18,317 | 17,766 | ||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC(n)(aa) | S+650, 1.00% SOFR Floor | 9/30/2027 | Services: Business | 7,125 | 7,056 | 7,054 | ||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC(aa) | S+650, 1.00% SOFR Floor | 9/30/2027 | Services: Business | 388 | 380 | 384 | ||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC | 0.50% Unfunded | 9/30/2027 | Services: Business | 429 | — | (4) | ||||||||||||||||||||||||||||||||
Ironhorse Purchaser, LLC | 1.00% Unfunded | 9/30/2024 | Services: Business | 2,041 | (20) | (20) | ||||||||||||||||||||||||||||||||
Isagenix International, LLC(m)(x) | L+775, 1.00% LIBOR Floor | 6/14/2025 | Beverage, Food & Tobacco | 16,229 | 15,103 | 13,774 | ||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc.(q)(x) | L+900, 1.75% LIBOR Floor | 10/1/2024 | Services: Consumer | 11,789 | 11,745 | 9,241 | ||||||||||||||||||||||||||||||||
JP Intermediate B, LLC(m)(x) | L+550, 1.00% LIBOR Floor | 11/20/2025 | Beverage, Food & Tobacco | 13,438 | 13,296 | 9,809 | ||||||||||||||||||||||||||||||||
K&N Parent, Inc.(x) | L+675, 1.00% LIBOR Floor | 10/20/2023 | Consumer Goods: Durable | 13,090 | 12,898 | 12,435 | ||||||||||||||||||||||||||||||||
K&N Parent, Inc.(aa) | S+800, 1.00% SOFR Floor | 2/15/2023 | Consumer Goods: Durable | 1,200 | 1,152 | 1,220 | ||||||||||||||||||||||||||||||||
Klein Hersh, LLC(m)(z) | S+852, 0.50% SOFR Floor | 4/27/2027 | Services: Business | 19,766 | 19,766 | 19,667 | ||||||||||||||||||||||||||||||||
KNB Holdings Corp.(m)(n)(q)(y) | L+550, 1.00% LIBOR Floor | 4/26/2024 | Consumer Goods: Durable | 7,634 | 7,387 | 3,321 | ||||||||||||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC(m)(x) | L+575, 0.75% LIBOR Floor | 10/12/2027 | Services: Consumer | 3,375 | 3,319 | 3,316 | ||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(aa) | S+550, 1.00% SOFR Floor | 10/31/2024 | Services: Business | 27,854 | 27,625 | 27,366 | ||||||||||||||||||||||||||||||||
LAV Gear Holdings, Inc.(m)(n)(aa) | S+550, 1.00% SOFR Floor | 10/31/2024 | Services: Business | 4,569 | 4,544 | 4,489 | ||||||||||||||||||||||||||||||||
LGC US Finco, LLC(m)(w) | L+650, 1.00% LIBOR Floor | 12/20/2025 | Capital Equipment | 11,515 | 11,263 | 11,184 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r)(w) | L+750, 1.00% LIBOR Floor | 6/29/2025 | Services: Consumer | 23,287 | 23,287 | 23,287 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r) | 9.50% | 6/29/2025 | Services: Consumer | 5,556 | 5,490 | 5,154 | ||||||||||||||||||||||||||||||||
Lift Brands, Inc.(m)(n)(r) | (p) | 6/29/2025 | Services: Consumer | 5,296 | 4,947 | 4,732 | ||||||||||||||||||||||||||||||||
Longview Power, LLC(r)(x) | L+1000, 1.50% LIBOR Floor | 7/30/2025 | Energy: Oil & Gas | 2,073 | 1,390 | 2,348 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(aa) | S+625, 1.00% SOFR Floor | 4/22/2026 | Services: Consumer | 17,804 | 17,702 | 17,448 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp.(m)(aa) | S+625, 1.00% SOFR Floor | 4/22/2026 | Services: Consumer | 7,910 | 7,836 | 7,751 | ||||||||||||||||||||||||||||||||
MacNeill Pride Group Corp. | 1.00% Unfunded | 4/30/2024 | Services: Consumer | 2,017 | — | (40) | ||||||||||||||||||||||||||||||||
Manus Bio Inc. | 11.00% | 8/20/2026 | Healthcare & Pharmaceuticals | 14,213 | 14,128 | 14,212 | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC(x) | L+600, 1.00% LIBOR Floor | 8/11/2028 | Diversified Financials | 6,089 | 5,985 | 6,089 | ||||||||||||||||||||||||||||||||
Marble Point Credit Management LLC(x) | L+600, 1.00% LIBOR Floor | 8/11/2028 | Diversified Financials | 1,437 | 1,418 | 1,437 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc.(x) | L+700, 1.00% LIBOR Floor | 12/21/2024 | Media: Advertising, Printing & Publishing | 22,328 | 22,328 | 22,161 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc.(x) | L+700, 1.00% LIBOR Floor | 12/21/2024 | Media: Advertising, Printing & Publishing | 2,256 | 2,256 | 2,239 | ||||||||||||||||||||||||||||||||
Mimeo.com, Inc. | 1.00% Unfunded | 12/21/2024 | Media: Advertising, Printing & Publishing | 3,000 | — | (23) | ||||||||||||||||||||||||||||||||
Moss Holding Company(m)(n)(aa) | S+625, 1.00% SOFR Floor | 4/17/2024 | Services: Business | 19,576 | 19,500 | 19,185 | ||||||||||||||||||||||||||||||||
Moss Holding Company | 6.25% Unfunded | 4/17/2024 | Services: Business | 106 | — | (2) | ||||||||||||||||||||||||||||||||
Moss Holding Company | 0.50% Unfunded | 4/17/2024 | Services: Business | 2,126 | — | (43) | ||||||||||||||||||||||||||||||||
Neptune Flood Inc.(m)(x) | L+600, 1.00% LIBOR Floor | 10/21/2026 | Banking, Finance, Insurance & Real Estate | 7,789 | 7,742 | 7,867 | ||||||||||||||||||||||||||||||||
NewsCycle Solutions, Inc.(m)(n)(x) | S+700, 1.00% SOFR Floor | 12/29/2023 | Media: Advertising, Printing & Publishing | 12,444 | 12,432 | 12,444 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(m)(x) | S+800, 1.00% SOFR Floor | 5/7/2026 | High Tech Industries | 12,755 | 12,664 | 12,643 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC(x) | S+800, 1.00% SOFR Floor | 5/7/2026 | High Tech Industries | 810 | 798 | 803 | ||||||||||||||||||||||||||||||||
NWN Parent Holdings LLC | 0.50% Unfunded | 5/7/2026 | High Tech Industries | 90 | — | (1) | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(m)(z) | S+650, 1.00% SOFR Floor | 8/19/2027 | Healthcare & Pharmaceuticals | 11,387 | 11,268 | 11,387 | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(z) | S+650, 1.00% SOFR Floor | 8/19/2027 | Healthcare & Pharmaceuticals | 208 | 208 | 208 | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC | 0.50% Unfunded | 8/19/2027 | Healthcare & Pharmaceuticals | 833 | — | — | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(m)(n)(w) | L+700, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 15,929 | 15,892 | 15,749 | ||||||||||||||||||||||||||||||||
Optio Rx, LLC(n)(w) | L+1000, 0.00% LIBOR Floor | 6/28/2024 | Healthcare & Pharmaceuticals | 2,515 | 2,504 | 2,615 | ||||||||||||||||||||||||||||||||
Pentec Acquisition Corp.(m)(w) | L+600, 1.00% LIBOR Floor | 10/8/2026 | Healthcare & Pharmaceuticals | 24,750 | 24,551 | 24,750 | ||||||||||||||||||||||||||||||||
PH Beauty Holdings III. Inc.(m)(x) | L+500, 0.00% LIBOR Floor | 9/28/2025 | Consumer Goods: Non-Durable | 9,575 | 9,195 | 8,677 | ||||||||||||||||||||||||||||||||
Playboy Enterprises, Inc.(h)(n)(x) | L+625, 0.50% LIBOR Floor | 5/25/2027 | Consumer Goods: Non-Durable | 25,202 | 24,729 | 24,257 | ||||||||||||||||||||||||||||||||
Project Castle, Inc.(m)(aa) | S+550, 0.50% SOFR Floor | 6/1/2029 | Services: Business | 9,975 | 8,979 | 8,117 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | S+675, 1.00% SOFR Floor | 4/8/2026 | Media: Diversified & Production | 10,979 | 10,979 | 10,938 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC | 0.50% Unfunded | 4/8/2026 | Media: Diversified & Production | 1,049 | (170) | (1) | ||||||||||||||||||||||||||||||||
Retail Services WIS Corp.(m)(x) | L+775, 1.00% LIBOR Floor | 5/20/2025 | Services: Business | 9,548 | 9,374 | 9,357 | ||||||||||||||||||||||||||||||||
Robert C. Hilliard, L.L.P.(m)(t)(w) | L+1200, 2.00% LIBOR Floor | 12/17/2023 | Services: Consumer | 1,815 | 1,815 | 1,815 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC(m)(t)(aa) | S+800, 1.00% SOFR Floor | 9/9/2025 | Services: Business | 16,365 | 16,365 | 16,324 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC(t)(aa) | S+800, 1.00% SOFR Floor | 9/9/2025 | Services: Business | 962 | 962 | 959 | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 1.00% Unfunded | 4/28/2023 | Services: Business | 962 | — | (2) | ||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 0.75% Unfunded | 9/9/2025 | Services: Business | 2,404 | — | (6) | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(m)(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 13,284 | 12,497 | 12,554 | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(x) | L+825, 1.00% LIBOR Floor | 8/31/2026 | Automotive | 4,019 | 3,976 | 3,798 | ||||||||||||||||||||||||||||||||
RumbleOn, Inc.(o) | 0.00% Unfunded | 2/28/2023 | Automotive | 1,775 | — | (98) | ||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(m)(x) | L+450, 1.00% LIBOR Floor | 11/1/2024 | Telecommunications | 3,868 | 3,383 | 3,848 | ||||||||||||||||||||||||||||||||
Sequoia Healthcare Management, LLC(m)(n)(q) | 12.75% | 11/4/2023 | Healthcare & Pharmaceuticals | 8,525 | 8,457 | 10,209 | ||||||||||||||||||||||||||||||||
Service Compression, LLC(m)(t)(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 22,975 | 22,622 | 22,803 | ||||||||||||||||||||||||||||||||
Service Compression, LLC(aa) | S+1000, 1.00% SOFR Floor | 5/6/2027 | Energy: Oil & Gas | 3,151 | 3,044 | 3,127 |
Portfolio Company(a) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
Service Compression, LLC | 0.50% Unfunded | 5/6/2025 | Energy: Oil & Gas | 4,186 | — | (31) | ||||||||||||||||||||||||||||||||
Sleep Opco, LLC(m)(x) | L+650, 1.00% LIBOR Floor | 10/12/2026 | Retail | 13,779 | 13,568 | 13,641 | ||||||||||||||||||||||||||||||||
Sleep Opco, LLC | 0.50% Unfunded | 10/12/2026 | Retail | 1,750 | (27) | (18) | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 13,401 | 13,385 | 9,649 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 1,191 | 1,191 | 816 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 766 | 677 | 521 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 727 | 727 | 498 | ||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x) | L+950 | 5/29/2023 | Healthcare & Pharmaceuticals | 607 | 536 | 446 | ||||||||||||||||||||||||||||||||
STATinMED, LLC(r)(t)(z) | S+950, 2.00% SOFR Floor | 7/1/2027 | Healthcare & Pharmaceuticals | 9,222 | 9,222 | 9,107 | ||||||||||||||||||||||||||||||||
STATinMED, LLC(r)(t)(z) | S+950, 2.00% SOFR Floor | 3/31/2023 | Healthcare & Pharmaceuticals | 156 | 153 | 156 | ||||||||||||||||||||||||||||||||
STATinMED, LLC(o)(r) | 0.00% Unfunded | 3/31/2023 | Healthcare & Pharmaceuticals | 156 | — | — | ||||||||||||||||||||||||||||||||
Thrill Holdings LLC(m)(aa) | S+650, 1.00% SOFR Floor | 5/27/2027 | Media: Diversified & Production | 20,394 | 20,394 | 20,292 | ||||||||||||||||||||||||||||||||
Thrill Holdings LLC | 1.00% Unfunded | 5/27/2024 | Media: Diversified & Production | 3,261 | — | (16) | ||||||||||||||||||||||||||||||||
Thrill Holdings LLC(aa) | S+650, 1.00% SOFR Floor | 5/27/2027 | Media: Diversified & Production | 1,739 | 1,739 | 1,730 | ||||||||||||||||||||||||||||||||
Trademark Global, LLC(t)(w) | L+750, 1.00% LIBOR Floor | 7/30/2024 | Consumer Goods: Non-Durable | 15,355 | 15,310 | 14,952 | ||||||||||||||||||||||||||||||||
Trammell, P.C.(t)(z) | S+1550, 2.00% SOFR Floor | 4/28/2026 | Services: Consumer | 14,201 | 14,201 | 14,147 | ||||||||||||||||||||||||||||||||
USALCO, LLC(m)(x) | L+600, 1.00% LIBOR Floor | 10/19/2027 | Chemicals, Plastics & Rubber | 24,750 | 24,539 | 24,441 | ||||||||||||||||||||||||||||||||
Vesta Holdings, LLC(m)(t) | P+900 | 2/25/2024 | Banking, Finance, Insurance & Real Estate | 21,071 | 21,071 | 19,938 | ||||||||||||||||||||||||||||||||
Vesta Holdings, LLC(m)(aa) | S+1000, 1.00% SOFR Floor | 3/12/2023 | Banking, Finance, Insurance & Real Estate | 10,392 | 10,159 | 10,392 | ||||||||||||||||||||||||||||||||
Vesta Holdings, LLC(t) | P+900 | 2/25/2024 | Banking, Finance, Insurance & Real Estate | 838 | 838 | 793 | ||||||||||||||||||||||||||||||||
Volta Charging, LLC(m) | 12.00% | 6/19/2024 | Media: Diversified & Production | 5,621 | 5,617 | 6,506 | ||||||||||||||||||||||||||||||||
Volta Charging, LLC(m) | 12.00% | 6/19/2024 | Media: Diversified & Production | 1,500 | 1,499 | 1,736 | ||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc.(n)(t)(x) | L+900, 1.00% LIBOR Floor | 12/16/2025 | Services: Business | 7,173 | 7,173 | 7,182 | ||||||||||||||||||||||||||||||||
Wok Holdings Inc.(m)(x) | L+650, 0.00% LIBOR Floor | 3/1/2026 | Beverage, Food & Tobacco | 25,105 | 24,335 | 21,684 | ||||||||||||||||||||||||||||||||
WorkGenius, Inc.(m)(aa) | S+700, 0.50% SOFR Floor | 6/7/2027 | Services: Business | 12,938 | 12,937 | 12,938 | ||||||||||||||||||||||||||||||||
WorkGenius, Inc. | 0.50% Unfunded | 6/7/2027 | Services: Business | 750 | (15) | — | ||||||||||||||||||||||||||||||||
Xenon Arc, Inc.(m)(x) | L+525, 0.75% LIBOR Floor | 12/17/2027 | High Tech Industries | 6,915 | 6,846 | 6,846 | ||||||||||||||||||||||||||||||||
Yak Access, LLC(m) | L+400, 0.00% LIBOR Floor | 7/11/2025 | Construction & Building | 4,925 | 3,299 | 3,165 | ||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | 1,638,995 | 1,579,512 | ||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt - 4.4% | ||||||||||||||||||||||||||||||||||||||
Global Tel*Link Corp.(n)(aa) | S+1000, 0.00% SOFR Floor | 11/29/2026 | Telecommunications | 11,500 | 11,378 | 11,414 | ||||||||||||||||||||||||||||||||
OpCo Borrower, LLC(m) | 12.50% | 2/19/2028 | Healthcare & Pharmaceuticals | 12,500 | 11,659 | 11,312 | ||||||||||||||||||||||||||||||||
RA Outdoors, LLC(m)(aa) | S+900, 1.00% SOFR Floor | 10/8/2026 | Media: Diversified & Production | 1,827 | 1,827 | 1,825 | ||||||||||||||||||||||||||||||||
Securus Technologies Holdings, Inc.(x) | L+825, 1.00% LIBOR Floor | 11/1/2025 | Telecommunications | 2,942 | 2,926 | 2,884 | ||||||||||||||||||||||||||||||||
TMK Hawk Parent, Corp.(x) | L+800, 1.00% LIBOR Floor | 8/28/2025 | Services: Business | 13,393 | 13,246 | 11,334 | ||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | 41,036 | 38,769 |
Portfolio Company(a) | Interest | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
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 | 1,246 | 71 | ||||||||||||||||||||||||||||||||
Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h) | 19.30% Estimated Yield | 4/15/2025 | Diversified Financials | 4,000 | 1,441 | 1,108 | ||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | 2,687 | 1,179 | ||||||||||||||||||||||||||||||||||||
Unsecured Debt - 2.6% | ||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC(t) | 12.50% | 5/29/2028 | Hotel, Gaming & Leisure | 22,860 | 22,860 | 15,316 | ||||||||||||||||||||||||||||||||
WPLM Acquisition Corp.(t) | 15.00% | 11/24/2025 | Media: Advertising, Printing & Publishing | 7,623 | 7,567 | 7,327 | ||||||||||||||||||||||||||||||||
Total Unsecured Debt | 30,427 | 22,643 | ||||||||||||||||||||||||||||||||||||
Equity - 12.1% | ||||||||||||||||||||||||||||||||||||||
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | — | ||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 1,235 | ||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Warrants(o) | Energy: Oil & Gas | 132,367 Units | 13 | 3 | ||||||||||||||||||||||||||||||||||
Carestream Health Holdings Inc., Common Stock(o)(r) | Healthcare & Pharmaceuticals | 613,262 Units | 21,758 | 21,544 | ||||||||||||||||||||||||||||||||||
CF Arch Holdings LLC, Class A Units(o) | Services: Business | 380,952 Units | 381 | 442 | ||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s) | Diversified Financials | 22,072,841 Units | 22,073 | 30,766 | ||||||||||||||||||||||||||||||||||
CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s) | Diversified Financials | NA | — | — | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | 28 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 2 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 2 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 2 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | — | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Reallocation Rights(o) | Retail | 7,500 Units | — | — | ||||||||||||||||||||||||||||||||||
FWS Parent Holdings, LLC. Class A Membership Interests(o) | Services: Business | 35,242 Units | 800 | 742 | ||||||||||||||||||||||||||||||||||
GSC Technologies Inc., Common Shares(o)(r) | Chemicals, Plastics & Rubber | 807,268 Units | — | — | ||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o) | Retail | 1,000,000 Units | 1,000 | 60 | ||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(m)(o) | Retail | 2,632,771 Units | 2,133 | 3,238 | ||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(m)(o) | Retail | 2,632,771 Units | 2,633 | 2,238 | ||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Retail | 155,880 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)(r) | Services: Business | 366,667 Units | — | — | ||||||||||||||||||||||||||||||||||
Language Education Holdings LP, Ordinary Common Units(o)(r) | Services: Business | 366,667 Units | 825 | 1,173 | ||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC, Membership Units(o)(r) | Energy: Oil & Gas | 653,989 Units | 2,704 | 23,995 | ||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc., Common Stock(f)(h)(r) | Banking, Finance, Insurance & Real Estate | 1,075,557 Units | 3,534 | 2,341 | ||||||||||||||||||||||||||||||||||
New Giving Acquisition, Inc., Warrants(o) | Healthcare & Pharmaceuticals | 4,630 Units | 633 | 786 | ||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Class A Preferred Units(o) | High Tech Industries | 111 Units | 110 | 909 | ||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Common Equity(o) | High Tech Industries | 346 Units | 393 | — |
Portfolio Company(a) | Interest | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | |||||||||||||||||||||||||||||||||
NS NWN Holdco LLC, Non-Voting Units(o) | High Tech Industries | 522 Units | 504 | 200 | ||||||||||||||||||||||||||||||||||
NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 664 | ||||||||||||||||||||||||||||||||||
Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 471 | 3,867 | ||||||||||||||||||||||||||||||||||
RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 1 | ||||||||||||||||||||||||||||||||||
Service Compression, LLC, Warrants(o) | Energy: Oil & Gas | N/A | 509 | 441 | ||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Class A Common Stock(o)(r) | Services: Consumer | 9,858 Units | 3,078 | 5,123 | ||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 2,077 | ||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC, Class A Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 6,182 Units | 6,182 | 4,530 | ||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC, Class B Preferred Units(o)(r) | Healthcare & Pharmaceuticals | 51,221 Units | 3,193 | 134 | ||||||||||||||||||||||||||||||||||
WorkGenius, LLC, Class A Units(o) | Services: Business | 500 Units | 500 | 515 | ||||||||||||||||||||||||||||||||||
Total Equity | 79,595 | 107,058 | ||||||||||||||||||||||||||||||||||||
Short Term Investments - 1.2%(k) | ||||||||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares | 3.95%(l) | 10,869 | 10,869 | |||||||||||||||||||||||||||||||||||
Total Short Term Investments | 10,869 | 10,869 | ||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 199.2% | $ | 1,803,609 | 1,760,030 | |||||||||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (99.2)% | (876,396) | |||||||||||||||||||||||||||||||||||||
NET ASSETS - 100.0% | $ | 883,634 |
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 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 September 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 December 31, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARC Financial, LLC | ARC Financial, LLC | ARC Financial, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Interests | Membership Interests | $ | — | $ | — | $ | — | $ | 416 | $ | 416 | $ | — | $ | — | $ | 25 | Membership Interests | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 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) | — | — | — | 393 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health, Inc. | Carestream Health, Inc. | Carestream Health, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | — | 7,596 | — | — | 7,596 | — | 2 | — | First Lien Term Loan | — | 7,596 | — | (57) | 7,539 | — | 284 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings Inc. | Carestream Health Holdings Inc. | Carestream Health Holdings Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | Common Shares | — | 21,758 | — | — | 21,758 | — | — | — | Common Shares | — | 21,758 | — | (214) | 21,544 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Charming Charlie, LLC | Charming Charlie, LLC | Charming Charlie, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vendor Payment Financing Facility | Vendor Payment Financing Facility | 350 | — | (657) | 307 | — | (657) | — | — | Vendor Payment Financing Facility | 350 | — | (657) | 307 | — | (657) | 26 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DESG Holdings, Inc. | DESG Holdings, Inc. | DESG Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | 1,787 | — | (298) | (1,243) | 246 | — | 5 | — | First Lien Term Loan | 1,787 | — | (306) | (1,235) | 246 | — | 5 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan | Second Lien Term Loan | — | — | (10,017) | 10,017 | — | (10,017) | — | — | 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 | 6 | (18) | — | 158 | — | 17 | — | Incremental Term Loan | 170 | 8 | (24) | — | 154 | — | 22 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan A | First Lien Term Loan A | 2,001 | 20 | — | 1 | 2,022 | — | 129 | — | First Lien Term Loan A | 2,001 | 26 | — | 37 | 2,064 | — | 193 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan B | First Lien Term Loan B | 485 | 47 | — | (129) | 403 | — | 48 | — | First Lien Term Loan B | 485 | 67 | — | (164) | 388 | — | 72 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 753 | (649) | (2) | 102 | — | 17 | — | Revolving Loan | — | 970 | (649) | — | 321 | — | 26 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Priming Term Loan | Priming Term Loan | — | 458 | — | (1) | 457 | — | 24 | — | Priming Term Loan | — | 458 | — | 11 | 469 | — | 36 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | — | 38,717 | — | (11,075) | 27,642 | — | 2,215 | — | First Lien Term Loan | — | 39,802 | — | (11,635) | 28,167 | — | 3,314 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan | First Lien Delayed Draw Term Loan | — | — | — | (4) | (4) | — | 10 | — | First Lien Delayed Draw Term Loan | — | — | — | — | — | — | 14 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | (177) | 117 | 23,346 | — | 1,586 | — | Term Loan A | 23,406 | — | (236) | 117 | 23,287 | — | 2,252 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan B | Term Loan B | 5,156 | 230 | — | (302) | 5,084 | — | 407 | — | Term Loan B | 5,156 | 235 | — | (237) | 5,154 | — | 545 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan C | Term Loan C | 4,700 | 99 | — | (245) | 4,554 | — | 99 | — | Term Loan C | 4,700 | 133 | — | (101) | 4,732 | — | 1,412 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Intermediate Holdings C, LLC | Longview Intermediate Holdings C, LLC | Longview Intermediate Holdings C, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Membership Units | Membership Units | 15,127 | — | — | 7,076 | 22,203 | — | — | — | Membership Units | 15,127 | — | — | 8,868 | 23,995 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Power, LLC | Longview Power, LLC | Longview Power, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | 4,504 | 130 | (1,384) | (952) | 2,298 | — | 1,846 | — | First Lien Term Loan | 4,504 | 156 | (1,391) | (921) | 2,348 | — | 1,952 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mount Logan Capital Inc. | Mount Logan Capital Inc. | Mount Logan Capital Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Common Stock | 3,404 | — | — | (1,071) | 2,333 | — | — | 41 | Common Stock | 3,404 | — | — | (1,063) | 2,341 | — | — | 54 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SIMR, LLC | SIMR, LLC | SIMR, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | 16,000 | 1,447 | (21,261) | 3,814 | — | (2,854) | 804 | — | 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 | — | — | (8,002) | 8,002 | — | (8,002) | — | — | Class B Membership Units | — | — | (8,002) | 8,002 | — | (8,002) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W Membership Units | Class W Membership Units | — | — | — | — | — | — | — | — | Class W Membership Units | — | — | — | — | — | — | — | — |
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 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 September 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 December 31, 2022 | Net Realized Gain (Loss) | Interest Income(3) | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc. | Snap Fitness Holdings, Inc. | Snap Fitness Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Stock | Class A Stock | 3,131 | — | — | 1,679 | 4,810 | — | — | — | Class A Stock | 3,131 | — | — | 1,992 | 5,123 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | Warrants | 1,269 | — | — | 681 | 1,950 | — | — | — | Warrants | 1,269 | — | — | 808 | 2,077 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC | STATinMED, LLC | STATinMED, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan | First Lien Term Loan | — | 9,180 | (250) | (44) | 8,886 | — | 409 | — | First Lien Term Loan | — | 9,472 | (250) | (115) | 9,107 | — | 719 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Delayed Draw First Lien Term Loan | Delayed Draw First Lien Term Loan | — | 153 | — | 3 | 156 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATinMed Parent, LLC | STATinMed Parent, LLC | STATinMed Parent, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Preferred Units | Class A Preferred Units | — | 6,182 | — | (945) | 5,237 | — | — | — | Class A Preferred Units | — | 6,182 | — | (1,652) | 4,530 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Preferred Units | Class B Preferred Units | — | 3,193 | — | (2,488) | 705 | — | — | — | Class B Preferred Units | — | 3,193 | — | (3,059) | 134 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Totals | Totals | $ | 81,490 | $ | 104,897 | $ | (57,794) | $ | 13,609 | $ | 142,202 | $ | (21,530) | $ | 8,010 | $ | 66 | Totals | $ | 81,490 | $ | 106,737 | $ | (57,874) | $ | 13,523 | $ | 143,876 | $ | (21,530) | $ | 12,069 | $ | 79 |
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 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 September 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 December 31, 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 | $ | — | $ | 6,475 | $ | — | Senior Secured Note | $ | 61,629 | $ | 2,718 | $ | (3,999) | $ | — | $ | 60,348 | $ | — | $ | 8,531 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Participating Preferred Shares | Participating Preferred Shares | 29,796 | — | — | 5,373 | 35,169 | — | — | — | Participating Preferred Shares | 29,796 | — | — | 970 | 30,766 | — | — | 1,275 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | Common Shares | — | — | — | — | — | — | — | — | Common Shares | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Totals | Totals | $ | 91,425 | $ | 645 | $ | — | $ | 5,373 | $ | 97,443 | $ | — | $ | 6,475 | $ | — | Totals | $ | 91,425 | $ | 2,718 | $ | (3,999) | $ | 970 | $ | 91,114 | $ | — | $ | 8,531 | $ | 1,275 |
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 | 13.67% | 2.00% | 15.67% | Adapt Laser Acquisition, Inc. | Senior Secured First Lien Debt | 14.76% | 2.00% | 16.76% | ||||||||||||||||||||||||||||||||||||||||||
American Clinical Solutions LLC | American Clinical Solutions LLC | Senior Secured First Lien Debt | 7.00% | 4.27% | 11.27% | |||||||||||||||||||||||||||||||||||||||||||||||
American Consolidated Natural Resources, Inc. | American Consolidated Natural Resources, Inc. | Senior Secured First Lien Debt | 16.08% | 3.00% | 19.08% | American Consolidated Natural Resources, Inc. | Senior Secured First Lien Debt | 17.33% | 3.00% | 20.33% | ||||||||||||||||||||||||||||||||||||||||||
Ancile Solutions, Inc. | Ancile Solutions, Inc. | Senior Secured First Lien Debt | 10.27% | 3.00% | 13.27% | Ancile Solutions, Inc. | Senior Secured First Lien Debt | 11.75% | 3.00% | 14.75% | ||||||||||||||||||||||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Anthem Sports & Entertainment Inc. | Senior Secured First Lien Debt | 10.42% | 2.25% | 12.67% | Anthem Sports & Entertainment Inc. | Senior Secured First Lien Debt | 11.48% | 2.75% | 14.23% | ||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC | Cadence Aerospace, LLC | Senior Secured First Lien Debt | 9.31% | 2.00% | 11.31% | Cadence Aerospace, LLC | Senior Secured First Lien Debt | 10.92% | 2.00% | 12.92% | ||||||||||||||||||||||||||||||||||||||||||
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 | 7.81% | 5.00% | 12.81% | David's Bridal, LLC | Senior Secured First Lien Debt | 9.28% | 5.00% | 14.28% | ||||||||||||||||||||||||||||||||||||||||||
David's Bridal, LLC | David's Bridal, LLC | Senior Secured First Lien Debt | 1.00% | 8.12% | 9.12% | David's Bridal, LLC | Senior Secured First Lien Debt | 1.00% | 9.42% | 10.42% | ||||||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Deluxe Entertainment Services, Inc. | Senior Secured First Lien Debt | 8.67% | 1.50% | 10.17% | Deluxe Entertainment Services, Inc. | Senior Secured First Lien Debt | 9.73% | 1.50% | 11.23% | ||||||||||||||||||||||||||||||||||||||||||
Deluxe Entertainment Services, Inc. | Senior Secured Second Lien Debt | 9.67% | 2.50% | 12.17% | ||||||||||||||||||||||||||||||||||||||||||||||||
Fusion Connect Inc. | Fusion Connect Inc. | Senior Secured First Lien Debt | 11.69% | 1.00% | 12.69% | |||||||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | GSC Technologies Inc. | Senior Secured First Lien Debt | — | 7.56% | 7.56% | GSC Technologies Inc. | Senior Secured First Lien Debt | — | 9.12% | 9.12% | ||||||||||||||||||||||||||||||||||||||||||
GSC Technologies Inc. | GSC Technologies Inc. | Senior Secured First Lien Debt | 7.56% | 5.00% | 12.56% | GSC Technologies Inc. | Senior Secured First Lien Debt | 9.37% | 5.00% | 14.37% | ||||||||||||||||||||||||||||||||||||||||||
Hilliard, Martinez & Gonzales, LLP | Hilliard, Martinez & Gonzales, LLP | Senior Secured First Lien Debt | — | 14.56% | 14.56% | Hilliard, Martinez & Gonzales, LLP | Senior Secured First Lien Debt | — | 16.24% | 16.24% | ||||||||||||||||||||||||||||||||||||||||||
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 | — | 11.75% | 11.75% | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 13.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 9.50% | 9.50% | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 11.26% | 11.26% | ||||||||||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC | Independent Pet Partners Intermediate Holdings, LLC | Senior Secured First Lien Debt | — | 14.42% | 14.42% | |||||||||||||||||||||||||||||||||||||||||||||||
Instant Web, LLC | Instant Web, LLC | Senior Secured First Lien Debt | — | 10.12% | 10.12% | Instant Web, LLC | Senior Secured First Lien Debt | — | 11.38% | 11.38% | ||||||||||||||||||||||||||||||||||||||||||
Jenny C Acquisition, Inc. | Senior Secured First Lien Debt | — | 12.75% | 12.75% | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | Senior Secured First Lien Debt | 10.31% | 0.50% | 10.81% | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 14.56% | 14.56% | Robert C. Hilliard, L.L.P. | Senior Secured First Lien Debt | — | 16.24% | 16.24% | ||||||||||||||||||||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | Rogers Mechanical Contractors, LLC | Senior Secured First Lien Debt | 11.70% | 1.00% | 12.70% | |||||||||||||||||||||||||||||||||||||||||||||||
Service Compression, LLC | Service Compression, LLC | Senior Secured First Lien Debt | 11.80% | 2.00% | 13.80% | Service Compression, LLC | Senior Secured First Lien Debt | 12.83% | 2.00% | 14.83% | ||||||||||||||||||||||||||||||||||||||||||
Spinal USA, Inc. / Precision Medical Inc. | Spinal USA, Inc. / Precision Medical Inc. | Senior Secured First Lien Debt | — | 13.25% | 13.25% | Spinal USA, Inc. / Precision Medical Inc. | Senior Secured First Lien Debt | — | 13.24% | 13.24% | ||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC | STATinMED, LLC | Senior Secured First Lien Debt | — | 12.21% | 12.21% | STATinMED, LLC | Senior Secured First Lien Debt | — | 13.80% | 13.80% | ||||||||||||||||||||||||||||||||||||||||||
STATinMED, LLC | STATinMED, LLC | Senior Secured First Lien Debt | — | 13.94% | 13.94% | |||||||||||||||||||||||||||||||||||||||||||||||
Trademark Global, LLC | Trademark Global, LLC | Senior Secured First Lien Debt | 7.07% | 4.50% | 11.57% | |||||||||||||||||||||||||||||||||||||||||||||||
Trammell, P.C. | Trammell, P.C. | Senior Secured First Lien Debt | — | 18.65% | 18.65% | Trammell, P.C. | Senior Secured First Lien Debt | — | 19.94% | 19.94% | ||||||||||||||||||||||||||||||||||||||||||
Vesta Holdings, LLC | Vesta Holdings, LLC | Senior Secured First Lien Debt | — | 13.14% | 13.14% | Vesta Holdings, LLC | Senior Secured First Lien Debt | — | 21.50% | 21.50% | ||||||||||||||||||||||||||||||||||||||||||
Williams Industrial Services Group, Inc. | Williams Industrial Services Group, Inc. | Senior Secured First Lien Debt | 10.00% | 2.75% | 12.75% | |||||||||||||||||||||||||||||||||||||||||||||||
WPLM Acquisition Corp. | WPLM Acquisition Corp. | Unsecured Note | — | 15.00% | 15.00% | WPLM Acquisition Corp. | Unsecured Note | — | 15.00% | 15.00% |
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) | 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) | 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) | 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) | 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) | Interest(b) | Maturity | Industry | Principal/ Par Amount/ Units(e) | Cost(d) | Fair Value(c) | ||||||||||||||||||||||||||||||||
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 | 55,455 | 38,583 | ||||||||||||||||||||||||||||||||||||
Collateralized Securities and Structured Products - Equity - 0.3% | ||||||||||||||||||||||||||||||||||||||
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) | 5.76% Estimated Yield | 4/15/2025 | Diversified Financials | 4,000 | 1,749 | 2,014 | ||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | 3,885 | 2,998 | ||||||||||||||||||||||||||||||||||||
Unsecured Debt - 2.9% | ||||||||||||||||||||||||||||||||||||||
Lucky Bucks Holdings LLC(t) | 12.50% | 5/29/2028 | Hotel, Gaming & Leisure | 20,219 | 20,219 | 20,219 | ||||||||||||||||||||||||||||||||
WPLM Acquisition Corp.(t) | 15.00% | 11/24/2025 | Media: Advertising, Printing & Publishing | 6,628 | 6,558 | 6,397 | ||||||||||||||||||||||||||||||||
Total Unsecured Debt | 26,777 | 26,616 | ||||||||||||||||||||||||||||||||||||
Equity - 7.6% | ||||||||||||||||||||||||||||||||||||||
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r) | Metals & Mining | NA | — | — | ||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Membership Units(o) | Energy: Oil & Gas | 511,255 Units | 1,642 | 639 | ||||||||||||||||||||||||||||||||||
Ascent Resources - Marcellus, LLC, Warrants(o) | Energy: Oil & Gas | 132,367 Units | 13 | 3 | ||||||||||||||||||||||||||||||||||
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) | Diversified Financials | NA | — | — | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A1 Preferred Stock(o) | Retail | 20,000 Units | 802 | 2,251 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A2 Preferred Stock(o) | Retail | 1,733 Units | — | 182 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series A Preferred Stock(o) | Retail | 1,396 Units | 140 | 164 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Series B Preferred Stock(o) | Retail | 4,183 Units | 410 | 162 | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Common Stock(o) | Retail | 39,423 Units | — | — | ||||||||||||||||||||||||||||||||||
DBI Investors, Inc., Reallocation Rights(o) | Retail | 7,500 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) | Retail | 1,000,000 Units | 1,000 | 20 | ||||||||||||||||||||||||||||||||||
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) | Retail | 2,632,771 Units | 2,633 | 2,791 | ||||||||||||||||||||||||||||||||||
Independent Pet Partners Intermediate Holdings, LLC, Warrants(o) | Retail | 155,880 Units | — | — | ||||||||||||||||||||||||||||||||||
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) | High Tech Industries | 500 Units | 562 | 171 | ||||||||||||||||||||||||||||||||||
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) | High Tech Industries | 111 Units | 110 | 2,382 | ||||||||||||||||||||||||||||||||||
NS NWN Acquisition, LLC, Non-voting Units(o) | High Tech Industries | 346 Units | 393 | — | ||||||||||||||||||||||||||||||||||
NS NWN Holdco LLC, Voting Units (o) | High Tech Industries | 522 Units | 504 | 525 | ||||||||||||||||||||||||||||||||||
NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o) | Consumer Goods: Durable | 1,575 Units | 1,000 | 770 | ||||||||||||||||||||||||||||||||||
Palmetto Clean Technology, Inc., Warrants(o) | High Tech Industries | 724,112 Units | 472 | 3,222 | ||||||||||||||||||||||||||||||||||
RumbleOn, Inc., Warrants(o) | Automotive | 60,606 Units | 927 | 978 |
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) | 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 | 3,131 | ||||||||||||||||||||||||||||
Snap Fitness Holdings, Inc., Warrants(o)(r) | Services: Consumer | 3,996 Units | 1,247 | 1,269 | ||||||||||||||||||||||||||||
Total Equity | 53,379 | 70,936 | ||||||||||||||||||||||||||||||
Short Term Investments - 9.4%(k) | ||||||||||||||||||||||||||||||||
First American Treasury Obligations Fund, Class Z Shares | 0.01%(l) | 87,917 | 87,917 | |||||||||||||||||||||||||||||
Total Short Term Investments | 87,917 | 87,917 | ||||||||||||||||||||||||||||||
TOTAL INVESTMENTS - 188.5% | $ | 1,792,304 | 1,754,039 | |||||||||||||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (88.5)% | (823,527) | |||||||||||||||||||||||||||||||
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% | ||||||||||||||||||||||
Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | 970,223 | 15,489 | 970,223 | 15,489 | Reinvestment of distributions | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total gross shares/proceeds | Total gross shares/proceeds | — | — | 970,223 | 15,489 | 970,223 | 15,489 | Total gross shares/proceeds | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales commissions and dealer manager fees | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net shares/proceeds | — | — | 970,223 | 15,489 | 970,223 | 15,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share repurchase program | Share repurchase program | (695,476) | (6,711) | (658,650) | (10,467) | (658,650) | (10,467) | Share repurchase program | (338,029) | (3,592) | — | — | (1,658,956) | (15,444) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net shares/proceeds from share transactions | Net shares/proceeds from share transactions | (695,476) | $ | (6,711) | 311,573 | $ | 5,022 | 311,573 | $ | 5,022 | Net shares/proceeds from share transactions | (338,029) | $ | (3,592) | — | $ | — | (1,658,956) | $ | (15,444) |
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 | Repurchase Date | Shares Repurchased | Percentage of Shares Tendered That Were Repurchased | Repurchase Price Per Share | Aggregate Consideration for Repurchased Shares | |||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
December 31, 2022 | N/A | 963,480 | N/A | 9.06 | 8,733 | |||||||||||||||||||||||||||
Total for the year ended December 31, 2022 | 1,658,956 | $ | 15,444 | |||||||||||||||||||||||||||||
2023 | ||||||||||||||||||||||||||||||||
March 31, 2023 | N/A | 338,029 | N/A | $ | 10.63 | $ | 3,592 | |||||||||||||||||||||||||
Total for the three months ended March 31, 2023 | 338,029 | $ | 3,592 | |||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entity | Entity | Capacity | Description | 2022 | 2021 | 2022 | 2021 | 2021 | Entity | Capacity | Description | 2023 | 2022 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIM | CIM | Investment adviser | Management fees(1) | $ | 6,942 | $ | 8,443 | $ | 20,436 | $ | 24,469 | $ | 31,143 | CIM | Investment adviser | Management fees(1) | $ | 6,676 | $ | 6,655 | $ | 27,361 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIM | CIM | Investment adviser | Incentive fees(1) | 5,421 | 2,933 | 13,645 | 2,933 | 6,875 | CIM | Investment adviser | Incentive fees(1) | 6,335 | 4,133 | 18,710 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIM | CIM | Administrative services provider | Administrative services expense(1) | 733 | 722 | 2,234 | 2,103 | 3,069 | CIM | Administrative services provider | Administrative services expense(1) | 837 | 720 | 3,348 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apollo Investment Administration, L.P. | Apollo Investment Administration, L.P. | Administrative services provider | Transaction costs(1) | — | 10 | — | 95 | 105 | Apollo Investment Administration, L.P. | Administrative services provider | Transaction costs(1) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 13,096 | $ | 12,108 | $ | 36,315 | $ | 29,600 | $ | 41,192 | $ | 13,848 | $ | 11,508 | $ | 49,419 |
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 |
Distributions | ||||||||||||||
Three Months Ended | Per Share | Amount | ||||||||||||
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 | ||||||||||||
December 31, 2022 (two record dates) | 0.5800 | 32,074 | ||||||||||||
Total distributions for the year ended December 31, 2022 | $ | 1.4500 | $ | 81,575 | ||||||||||
2023 | ||||||||||||||
March 31, 2023 (one record date) | $ | 0.3400 | $ | 18,687 | ||||||||||
Total distributions for the three months ended March 31, 2023 | $ | 0.3400 | $ | 18,687 |
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Source of Distribution | Per Share | Amount | Percentage | Per Share(1) | Amount | Percentage | Per Share | Amount | Percentage | |||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | $ | 0.8700 | $ | 49,501 | 100.0 | % | $ | 0.7944 | $ | 45,056 | 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 | % |
Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Source of Distribution | Per Share | Amount | Percentage | Per Share | Amount | Percentage | Per Share | Amount | Percentage | |||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | $ | 0.3400 | $ | 18,687 | 100.0 | % | $ | 0.2800 | $ | 15,948 | 100.0 | % | $ | 1.4500 | $ | 81,575 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Total distributions | $ | 0.3400 | $ | 18,687 | 100.0 | % | $ | 0.2800 | $ | 15,948 | 100.0 | % | $ | 1.4500 | $ | 81,575 | 100.0 | % |
December 31, | |||||
Undistributed ordinary income | $ | ||||
Other accumulated | |||||
Net unrealized depreciation on investments | |||||
Total accumulated losses | $ |
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 1,690,919 | $ | 1,616,352 | 89.8 | % | $ | 1,564,891 | $ | 1,526,989 | 91.6 | % | Senior secured first lien debt | $ | 1,567,330 | $ | 1,472,453 | 88.8 | % | $ | 1,638,995 | $ | 1,579,512 | 90.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 40,988 | 38,716 | 2.2 | % | 55,455 | 38,583 | 2.3 | % | Senior secured second lien debt | 41,102 | 38,997 | 2.4 | % | 41,036 | 38,769 | 2.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 2,733 | 1,366 | 0.1 | % | 3,885 | 2,998 | 0.2 | % | Collateralized securities and structured products - equity | 2,606 | 1,133 | 0.1 | % | 2,687 | 1,179 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 28,738 | 28,319 | 1.6 | % | 26,777 | 26,616 | 1.6 | % | Unsecured debt | 30,431 | 15,517 | 0.9 | % | 30,427 | 22,643 | 1.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 78,795 | 112,491 | 6.3 | % | 53,379 | 70,936 | 4.3 | % | Equity | 115,514 | 128,926 | 7.8 | % | 79,595 | 107,058 | 6.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,842,173 | 1,797,244 | 100.0 | % | 1,704,387 | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,756,983 | 1,657,026 | 100.0 | % | 1,792,740 | 1,749,161 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 9,804 | 9,804 | 87,917 | 87,917 | Short term investments(2) | 66,326 | 66,326 | 10,869 | 10,869 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,851,977 | $ | 1,807,048 | $ | 1,792,304 | $ | 1,754,039 | Total investments | $ | 1,823,309 | $ | 1,723,352 | $ | 1,803,609 | $ | 1,760,030 |
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 354,725 | 19.7 | % | $ | 240,316 | 14.4 | % | Services: Business | $ | 340,815 | 20.6 | % | $ | 336,055 | 19.2 | % | ||||||||||||||||||||||||||||||||||
Healthcare & Pharmaceuticals | Healthcare & Pharmaceuticals | 279,102 | 15.5 | % | 250,049 | 15.0 | % | Healthcare & Pharmaceuticals | 232,306 | 14.0 | % | 237,082 | 13.6 | % | ||||||||||||||||||||||||||||||||||||||
Media: Diversified & Production | Media: Diversified & Production | 159,236 | 8.9 | % | 139,399 | 8.4 | % | Media: Diversified & Production | 126,177 | 7.6 | % | 134,927 | 7.7 | % | ||||||||||||||||||||||||||||||||||||||
Services: Consumer | Services: Consumer | 117,340 | 6.5 | % | 119,365 | 7.2 | % | Services: Consumer | 106,082 | 6.4 | % | 115,849 | 6.6 | % | ||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | Media: Advertising, Printing & Publishing | 87,247 | 5.3 | % | 105,375 | 6.0 | % | |||||||||||||||||||||||||||||||||||||||||||||
Diversified Financials | Diversified Financials | 106,426 | 5.9 | % | 101,032 | 6.1 | % | Diversified Financials | 81,724 | 4.9 | % | 99,819 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||
High Tech Industries | 81,364 | 4.5 | % | 65,544 | 3.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | 78,855 | 4.4 | % | 94,610 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Chemicals, Plastics & Rubber | Chemicals, Plastics & Rubber | 66,927 | 3.7 | % | 109,860 | 6.6 | % | Chemicals, Plastics & Rubber | 66,992 | 4.0 | % | 66,753 | 3.8 | % | ||||||||||||||||||||||||||||||||||||||
Retail | 64,919 | 3.6 | % | 56,726 | 3.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Energy: Oil & Gas | Energy: Oil & Gas | 62,688 | 3.5 | % | 32,164 | 1.9 | % | Energy: Oil & Gas | 65,343 | 3.9 | % | 68,756 | 3.9 | % | ||||||||||||||||||||||||||||||||||||||
Consumer Goods: Durable | Consumer Goods: Durable | 61,165 | 3.4 | % | 58,124 | 3.5 | % | Consumer Goods: Durable | 62,420 | 3.8 | % | 60,735 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||
Retail | Retail | 57,034 | 3.4 | % | 74,718 | 4.3 | % | |||||||||||||||||||||||||||||||||||||||||||||
High Tech Industries | High Tech Industries | 53,597 | 3.2 | % | 56,501 | 3.2 | % | |||||||||||||||||||||||||||||||||||||||||||||
Construction & Building | Construction & Building | 51,310 | 3.1 | % | 46,007 | 2.6 | % | |||||||||||||||||||||||||||||||||||||||||||||
Beverage, Food & Tobacco | Beverage, Food & Tobacco | 44,519 | 2.7 | % | 45,396 | 2.6 | % | |||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Non-Durable | Consumer Goods: Non-Durable | 42,305 | 2.6 | % | 47,886 | 2.8 | % | |||||||||||||||||||||||||||||||||||||||||||||
Capital Equipment | Capital Equipment | 41,713 | 2.5 | % | 41,580 | 2.4 | % | |||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 39,195 | 2.4 | % | 38,842 | 2.2 | % | |||||||||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | Banking, Finance, Insurance & Real Estate | 39,048 | 2.4 | % | 43,836 | 2.5 | % | |||||||||||||||||||||||||||||||||||||||||||||
Hotel, Gaming & Leisure | Hotel, Gaming & Leisure | 53,065 | 3.0 | % | 50,855 | 3.0 | % | Hotel, Gaming & Leisure | 38,520 | 2.3 | % | 46,739 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||
Beverage, Food & Tobacco | 49,641 | 2.8 | % | 49,054 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Construction & Building | 42,060 | 2.3 | % | 27,585 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Capital Equipment | 41,183 | 2.3 | % | 82,795 | 5.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | 39,631 | 2.2 | % | 40,634 | 2.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | 38,683 | 2.2 | % | 38,279 | 2.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Non-Durable | 35,647 | 2.0 | % | 45,682 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Containers, Packaging & Glass | Containers, Packaging & Glass | 19,477 | 1.2 | % | 19,551 | 1.1 | % | |||||||||||||||||||||||||||||||||||||||||||||
Telecommunications | Telecommunications | 18,842 | 1.0 | % | 24,649 | 1.5 | % | Telecommunications | 18,315 | 1.1 | % | 18,302 | 1.1 | % | ||||||||||||||||||||||||||||||||||||||
Automotive | Automotive | 17,259 | 1.0 | % | 14,367 | 0.9 | % | Automotive | 16,395 | 1.0 | % | 16,255 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||
Metals & Mining | Metals & Mining | 16,202 | 0.9 | % | 10,927 | 0.7 | % | Metals & Mining | 15,836 | 1.0 | % | 15,780 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||
Transportation: Cargo | Transportation: Cargo | 12,284 | 0.7 | % | 14,106 | 0.8 | % | Transportation: Cargo | 10,656 | 0.6 | % | 12,417 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,797,244 | 100.0 | % | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,657,026 | 100.0 | % | 1,749,161 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 9,804 | 87,917 | Short term investments | 66,326 | 10,869 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,807,048 | $ | 1,754,039 | Total investments | $ | 1,723,352 | $ | 1,760,030 |
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 1,787,828 | 99.5 | % | $ | 1,653,615 | 99.3 | % | United States | $ | 1,647,499 | 99.4 | % | $ | 1,739,866 | 99.5 | % | ||||||||||||||||||||||||||||||||||
Canada | Canada | 7,414 | 0.4 | % | 8,739 | 0.5 | % | Canada | 7,485 | 0.4 | % | 7,452 | 0.4 | % | ||||||||||||||||||||||||||||||||||||||
Cayman Islands | Cayman Islands | 1,366 | 0.1 | % | 2,998 | 0.2 | % | Cayman Islands | 1,133 | 0.1 | % | 1,179 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||
Bermuda | Bermuda | 636 | — | 770 | — | Bermuda | 909 | 0.1 | % | 664 | — | |||||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,797,244 | 100.0 | % | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,657,026 | 100.0 | % | 1,749,161 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 9,804 | 87,917 | Short term investments | 66,326 | 10,869 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,807,048 | $ | 1,754,039 | Total investments | $ | 1,723,352 | $ | 1,760,030 |
Portfolio Company | Portfolio Company | Interest(a) | Maturity | 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.(g) | Berlitz Holdings, Inc.(g) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | $ | 1,200 | $ | 1,118 | $ | 1,143 | Berlitz Holdings, Inc.(g) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | $ | 1,200 | $ | 1,133 | $ | 1,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Tree Service, LLC(h) | Community Tree Service, LLC(h) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 500 | 500 | 498 | Community Tree Service, LLC(h) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 498 | 498 | 475 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | Future Pak, LLC(e) | L+1000, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 1,280 | 1,271 | 1,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | Total Senior Secured First Lien Debt | 3,161 | 3,165 | Total Senior Secured First Lien Debt | 2,902 | 2,907 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | Access CIG, LLC(f) | L+775, 0.00% LIBOR Floor | 2/27/2026 | Services: Business | 7,250 | 7,222 | 6,942 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | Dayton Superior Corp.(e) | L+700, 2.00% LIBOR Floor | 12/4/2024 | Construction & Building | 1,006 | 1,006 | 1,004 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | MedPlast Holdings, Inc.(e) | L+775, 0.00% LIBOR Floor | 7/2/2026 | Healthcare & Pharmaceuticals | 6,750 | 6,172 | 6,345 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 29,147 | 28,016 | Total Senior Secured Second Lien Debt | 14,400 | 14,291 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(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 | Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c) | 11.84% Estimated Yield | 2/2/2026 | Diversified Financials | 10,000 | 9,858 | 9,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Collateralized Securities and Structured Products - Equity | Total Collateralized Securities and Structured Products - Equity | 9,874 | 9,579 | Total Collateralized Securities and Structured Products - Equity | 9,858 | 9,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 4,583 | American Clinical Solutions LLC, Class A Membership Interests(d) | Healthcare & Pharmaceuticals | 6,030,384 Units | 5,200 | 5,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,836 | Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d) | Media: Diversified & Production | 1,469 Units | 486 | 1,644 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 320 | Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d) | Media: Diversified & Production | 255 Units | — | 167 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Media: Diversified & Production | 4,746 Units | — | 999 | Anthem Sports and Entertainment Inc., Common Stock Warrants(d) | Media: Diversified & Production | 4,746 Units | — | 315 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | Diversified Financials | N/A | 11,628 | 11,177 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership) | BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership) | Diversified Financials | N/A | 12,966 | 12,573 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings, Inc., Common Stock(d) | Carestream Health Holdings, Inc., Common Stock(d) | Healthcare & Pharmaceuticals | 613,262 Units | 21,759 | 21,759 | Carestream Health Holdings, Inc., Common Stock(d) | Healthcare & Pharmaceuticals | 613,262 Units | 21,759 | 19,710 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 7,809 | 8,495 | CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend | Healthcare & Pharmaceuticals | 2,727,273 Units | 7,973 | 8,995 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 930 | CTS Ultimate Holdings LLC, Class A Preferred Units(d) | Construction & Building | 3,578,701 Units | 1,000 | 644 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton HoldCo, LLC, Membership Units(d) | Dayton HoldCo, LLC, Membership Units(d) | Construction & Building | 37,264 Units | 8,400 | 15,345 | Dayton HoldCo, LLC, Membership Units(d) | Construction & Building | 37,264 Units | 8,400 | 15,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HDNet Holdco LLC, Preferred Unit Call Option(d) | HDNet Holdco LLC, Preferred Unit Call Option(d) | Media: Diversified & Production | 1 Unit | — | 206 | HDNet Holdco LLC, Preferred Unit Call Option(d) | Media: Diversified & Production | 1 Unit | — | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2,062 | 1,600 | HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend | Capital Equipment | 2,000,000 Units | 2,082 | 40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 364 | Language Education Holdings LP, Ordinary Common Units(d) | Services: Business | 133,333 Units | 300 | 468 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Skillsoft Corp., Class A Common Stock(d) | Skillsoft Corp., Class A Common Stock(d) | High Tech Industries | 243,425 Units | 2,000 | 446 | Skillsoft Corp., Class A Common Stock(d) | High Tech Industries | 243,425 Units | 2,000 | 487 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 60,644 | 68,060 | Total Equity | 62,166 | 66,185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS | TOTAL INVESTMENTS | $ | 102,826 | $ | 108,820 | TOTAL INVESTMENTS | $ | 89,326 | $ | 92,722 |
Portfolio Company | Portfolio Company | Interest(a) | Maturity | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Berlitz Holdings, Inc.(g) | Berlitz Holdings, Inc.(g) | S+900, 1.00% SOFR Floor | 2/14/2025 | Services: Business | $ | 1,200 | $ | 1,125 | $ | 1,146 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Tree Service, LLC(h) | Community Tree Service, LLC(h) | S+850, 1.00% SOFR Floor | 6/17/2027 | Construction & Building | 499 | 499 | 489 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future Pak, LLC(e) | Future Pak, LLC(e) | L+800, 2.00% LIBOR Floor | 7/2/2024 | Healthcare & Pharmaceuticals | 1,395 | 1,382 | 1,372 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured First Lien Debt | Total Senior Secured First Lien Debt | 3,006 | 3,007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | Senior Secured Second Lien Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | L+1250, 1.00% LIBOR Floor | 8/8/2023 | Healthcare & Pharmaceuticals | 12,460 | 12,057 | 12,242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton Superior Corp.(f) | L+700, 2.00% LIBOR Floor | 12/4/2024 | Construction & Building | 1,477 | 1,479 | 1,478 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Access CIG, LLC(f) | Access CIG, LLC(f) | L+775, 0.00% LIBOR Floor | 2/27/2026 | Services: Business | 7,250 | 7,220 | 6,933 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dayton Superior Corp.(e) | Dayton Superior Corp.(e) | L+700, 2.00% LIBOR Floor | 12/4/2024 | Construction & Building | 1,010 | 1,010 | 1,007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | MedPlast Holdings, Inc.(e) | L+775, 0.00% LIBOR Floor | 7/2/2026 | Healthcare & Pharmaceuticals | 6,750 | 6,135 | 6,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | Zest Acquisition Corp.(e) | L+700, 1.00% LIBOR Floor | 3/14/2026 | Healthcare & Pharmaceuticals | 15,000 | 14,820 | 14,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Secured Second Lien Debt | Total Senior Secured Second Lien Debt | 48,513 | 49,347 | Total Senior Secured Second Lien Debt | 29,185 | 28,452 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(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 | Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c) | 11.84% Estimated Yield | 2/2/2026 | Diversified Financials | 10,000 | 9,874 | 9,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 9,874 | 9,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 3,618 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,881 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 187 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 580 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership) | Diversified Financials | N/A | 11,118 | 11,224 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings, Inc., Warrants(d) | Healthcare & Pharmaceuticals | 388 Units | 500 | 801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership) | BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership) | Diversified Financials | N/A | 11,436 | 11,058 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carestream Health Holdings, Inc., Common Stock(d) | Carestream Health Holdings, Inc., Common Stock(d) | Healthcare & Pharmaceuticals | 613,262 Units | 21,759 | 21,544 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 7,891 | 8,877 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 859 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 15,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | — | 185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2,082 | 130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Language Education Holdings GP LLC, Common Units(d) | 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 | 427 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 316 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 38,436 | 46,940 | Total Equity | 60,554 | 64,996 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS | TOTAL INVESTMENTS | $ | 96,946 | $ | 106,143 | TOTAL INVESTMENTS | $ | 102,619 | $ | 105,978 |
Selected Balance Sheet Information: | Selected Balance Sheet Information: | September 30, 2022 | December 31, 2021 | Selected Balance Sheet Information: | March 31, 2023 | December 31, 2022 | ||||||||||||||||||||||
Investments, at fair value (amortized cost of $102,826 and $96,946, respectively) | $ | 108,820 | $ | 106,143 | ||||||||||||||||||||||||
Investments, at fair value (amortized cost of $89,326 and $102,619, respectively) | Investments, at fair value (amortized cost of $89,326 and $102,619, respectively) | $ | 92,722 | $ | 105,978 | |||||||||||||||||||||||
Cash and other assets | Cash and other assets | 5,684 | 1,776 | Cash and other assets | 1,739 | 2,476 | ||||||||||||||||||||||
Dividend receivable on investments | Dividend receivable on investments | 310 | 265 | Dividend receivable on investments | 339 | 225 | ||||||||||||||||||||||
Interest receivable on investments | Interest receivable on investments | 301 | 109 | Interest receivable on investments | 282 | 301 | ||||||||||||||||||||||
Total assets | Total assets | $ | 115,115 | $ | 108,293 | Total assets | $ | 95,082 | $ | 108,980 | ||||||||||||||||||
Senior secured notes (net of unamortized debt issuance costs of $100 and $0, respectively) | $ | 73,164 | $ | 72,504 | ||||||||||||||||||||||||
Senior secured notes (net of unamortized debt issuance costs of $88 and $94, respectively) | Senior secured notes (net of unamortized debt issuance costs of $88 and $94, respectively) | $ | 64,414 | $ | 70,904 | |||||||||||||||||||||||
Other liabilities | Other liabilities | 369 | 735 | Other liabilities | 357 | 1,881 | ||||||||||||||||||||||
Total liabilities | Total liabilities | 73,533 | 73,239 | Total liabilities | 64,771 | 72,785 | ||||||||||||||||||||||
Members' capital | Members' capital | 41,582 | 35,054 | Members' capital | 30,311 | 36,195 | ||||||||||||||||||||||
Total liabilities and members' capital | Total liabilities and members' capital | $ | 115,115 | $ | 108,293 | Total liabilities and members' capital | $ | 95,082 | $ | 108,980 |
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 | $ | 4,237 | $ | 7,960 | $ | 688 | |||||||||||
Total expenses | 2,860 | 8,382 | 800 | ||||||||||||||
Net realized gain on investments | 10,153 | 10,153 | — | ||||||||||||||
Net change in unrealized (depreciation) appreciation on investments | (3,050) | (3,203) | 9,197 | ||||||||||||||
Net increase in net assets | $ | 8,480 | $ | 6,528 | $ | 9,085 | |||||||||||
Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
Selected Statement of Operations Information: | Selected Statement of Operations Information: | 2022 | 2021 | 2021 | Selected Statement of Operations Information: | 2023 | 2022 | 2022 | ||||||||||||||||||||||||||||||||||||||
Total revenues | Total revenues | $ | — | $ | 29 | $ | 29 | Total revenues | $ | 1,595 | $ | 1,884 | $ | 9,653 | ||||||||||||||||||||||||||||||||
Total expenses | Total expenses | — | 29 | 29 | Total expenses | 2,692 | 2,720 | 11,120 | ||||||||||||||||||||||||||||||||||||||
Net increase in net assets | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||
Net realized gain on investments | Net realized gain on investments | 176 | — | 9,947 | ||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | Net change in unrealized appreciation (depreciation) on investments | 37 | 542 | (5,839) | ||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets | Net (decrease) increase in net assets | $ | (884) | $ | (294) | $ | 2,641 |
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% | 60,000 | 40,000 | SOFR+3.10% | 50,000 | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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% | 125,000 | 25,000 | November 19, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Notes | Series A Notes | Israel Public Bond Offering | SOFR+3.82% | 80,712 | — | August 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 957,500 | $ | 72,500 | $ | 1,010,712 | $ | 100,000 |
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 7,906 | $ | 4,532 | $ | 18,669 | $ | 13,625 | $ | 18,299 | Stated interest expense | $ | 11,990 | $ | 4,707 | $ | 29,254 | ||||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 576 | 464 | 1,637 | 1,628 | 2,119 | Amortization of deferred financing costs | 564 | 490 | 2,214 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-usage fee | Non-usage fee | 188 | 64 | 451 | 432 | 457 | Non-usage fee | 171 | 70 | 617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 8,670 | $ | 5,060 | $ | 20,757 | $ | 15,685 | $ | 20,875 | Total interest expense | $ | 12,725 | $ | 5,267 | $ | 32,085 | ||||||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 5.32 | % | 3.28 | % | 4.33 | % | 3.41 | % | 3.36 | % | Weighted average interest rate(1) | 8.02 | % | 3.44 | % | 4.99 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 601,739 | $ | 550,000 | $ | 584,066 | $ | 543,681 | $ | 549,110 | Average borrowings | $ | 606,667 | $ | 551,333 | $ | 590,603 |
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 | Three Months Ended March 31, | Year Ended December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | Year Ended December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 1,406 | $ | 1,437 | $ | 4,234 | $ | 3,625 | $ | 5,062 | Stated interest expense | $ | 1,406 | $ | 1,406 | $ | 5,600 | ||||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 135 | 135 | 399 | 339 | 473 | Amortization of deferred financing costs | 131 | 131 | 533 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 1,541 | $ | 1,572 | $ | 4,633 | $ | 3,964 | $ | 5,535 | Total interest expense | $ | 1,537 | $ | 1,537 | $ | 6,133 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 125,000 | $ | 125,000 | $ | 125,000 | $ | 125,000 | $ | 125,000 | Average borrowings | $ | 125,000 | $ | 125,000 | $ | 125,000 |
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 2,006 | $ | 1,000 | $ | 4,686 | $ | 2,795 | $ | 3,731 | Stated interest expense | $ | 2,804 | $ | 1,147 | $ | 7,273 | ||||||||||||||||||||||||||||||||||||||||||||||
Non-usage fee | Non-usage fee | 14 | 74 | 82 | 263 | 349 | Non-usage fee | 23 | 47 | 96 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 2,020 | $ | 1,074 | $ | 4,768 | $ | 3,058 | $ | 4,080 | Total interest expense | $ | 2,827 | $ | 1,194 | $ | 7,369 | ||||||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 5.58 | % | 3.78 | % | 4.64 | % | 3.88 | % | 3.86 | % | Weighted average interest rate(1) | 8.22 | % | 3.82 | % | 5.29 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 142,500 | $ | 111,413 | $ | 135,577 | $ | 103,846 | $ | 104,110 | Average borrowings | $ | 137,639 | $ | 125,000 | $ | 137,322 |
For the Period From February 28, 2023 Through March 31, 2023 | ||||||||||||||||||||
Stated interest expense | $ | 618 | ||||||||||||||||||
Amortization of deferred financing costs | 78 | |||||||||||||||||||
Total interest expense | $ | 696 | ||||||||||||||||||
Weighted average interest rate(1) | 8.62 | % | ||||||||||||||||||
Average borrowings | $ | 80,712 |
Three Months Ended September 30, 2022 | For the Period From April 27, 2022 Through September 30, 2022 | Three Months Ended March 31, 2023 | For the Period From April 27, 2022 Through December 31, 2022 | |||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 715 | $ | 1,125 | Stated interest expense | $ | 1,012 | $ | 2,027 | ||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 52 | 88 | Amortization of deferred financing costs | 51 | 140 | ||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 767 | $ | 1,213 | Total interest expense | $ | 1,063 | $ | 2,167 | ||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 5.59 | % | 5.16 | % | Weighted average interest rate(1) | 8.10 | % | 5.86 | % | ||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 50,000 | $ | 50,000 | Average borrowings | $ | 50,000 | $ | 50,000 |
Three Months Ended March 31, | Year Ended December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated interest expense | Stated interest expense | $ | 399 | $ | 399 | $ | 1,183 | $ | 711 | $ | 1,109 | Stated interest expense | $ | 390 | $ | 390 | $ | 1,582 | ||||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 72 | 71 | 215 | 134 | 208 | Amortization of deferred financing costs | 71 | 71 | 288 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 471 | $ | 470 | $ | 1,398 | $ | 845 | $ | 1,317 | Total interest expense | $ | 461 | $ | 461 | $ | 1,870 | ||||||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate(1) | Weighted average interest rate(1) | 5.20 | % | 5.20 | % | 5.20 | % | 5.20 | % | 5.20 | % | Weighted average interest rate(1) | 5.20 | % | 5.20 | % | 5.20 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Average borrowings | Average borrowings | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | Average borrowings | $ | 30,000 | $ | 30,000 | $ | 30,000 |
September 30, 2022(1) | December 31, 2021(2) | March 31, 2023(1) | December 31, 2022(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 | $ | — | $ | — | $ | 1,616,352 | $ | 1,616,352 | $ | — | $ | — | $ | 1,526,989 | $ | 1,526,989 | Senior secured first lien debt | $ | — | $ | — | $ | 1,472,453 | $ | 1,472,453 | $ | — | $ | — | $ | 1,579,512 | $ | 1,579,512 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | — | — | 38,716 | 38,716 | — | — | 38,583 | 38,583 | Senior secured second lien debt | — | — | 38,997 | 38,997 | — | — | 38,769 | 38,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | — | — | 1,366 | 1,366 | — | — | 2,998 | 2,998 | Collateralized securities and structured products - equity | — | — | 1,133 | 1,133 | — | — | 1,179 | 1,179 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | — | — | 28,319 | 28,319 | — | — | 26,616 | 26,616 | Unsecured debt | — | — | 15,517 | 15,517 | — | — | 22,643 | 22,643 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 2,333 | — | 74,989 | 77,322 | 3,404 | — | 37,736 | 41,140 | Equity | 2,204 | — | 100,958 | 103,162 | 2,341 | — | 73,951 | 76,292 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 9,804 | — | — | 9,804 | 87,917 | — | — | 87,917 | Short term investments | 66,326 | — | — | 66,326 | 10,869 | — | — | 10,869 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Investments | Total Investments | $ | 12,137 | $ | — | $ | 1,759,742 | $ | 1,771,879 | $ | 91,321 | $ | — | $ | 1,632,922 | $ | 1,724,243 | Total Investments | $ | 68,530 | $ | — | $ | 1,629,058 | $ | 1,697,588 | $ | 13,210 | $ | — | $ | 1,716,054 | $ | 1,729,264 |
Three Months Ended September 30, 2022 | Three Months Ended March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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, June 30, 2022 | $ | 1,660,828 | $ | 27,086 | $ | 1,602 | $ | 27,994 | $ | 42,885 | $ | 1,760,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance, December 31, 2022 | Beginning balance, December 31, 2022 | $ | 1,579,512 | $ | 38,769 | $ | 1,179 | $ | 22,643 | $ | 73,951 | $ | 1,716,054 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments purchased | Investments purchased | 142,620 | 18,109 | — | 677 | 32,148 | 193,554 | Investments purchased | 40,752 | — | — | — | 35,933 | 76,685 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) | 10,452 | (19,339) | 24 | — | (8,303) | (17,166) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized loss | Net realized loss | (4,511) | — | — | — | (14) | (4,525) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation | Net change in unrealized (depreciation) appreciation | (2,615) | 13,379 | (128) | (356) | 8,522 | 18,802 | Net change in unrealized (depreciation) appreciation | (35,394) | 163 | 35 | (7,130) | (8,912) | (51,238) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of discount | Accretion of discount | 4,170 | 17 | — | 4 | — | 4,191 | Accretion of discount | 4,269 | 69 | — | 4 | — | 4,342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (199,103) | (536) | (132) | — | (263) | (200,034) | Sales and principal repayments | (112,175) | (4) | (81) | — | — | (112,260) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | $ | (7,793) | $ | (3) | $ | (128) | $ | (356) | $ | 205 | $ | (8,075) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, March 31, 2023 | Ending balance, March 31, 2023 | $ | 1,472,453 | $ | 38,997 | $ | 1,133 | $ | 15,517 | $ | 100,958 | $ | 1,629,058 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of March 31, 2023(1) | Change in net unrealized (depreciation) appreciation on investments still held as of March 31, 2023(1) | $ | (34,672) | $ | 163 | $ | 35 | $ | (7,130) | $ | (8,912) | $ | (50,516) |
Nine Months Ended September 30, 2022 | Three Months Ended March 31, 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) | 460,119 | 19,945 | — | 1,950 | 34,281 | 516,295 | Investments purchased(2) | 141,792 | — | — | 623 | 1,125 | 143,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) | 10,345 | (19,325) | 24 | — | (8,099) | (17,055) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain | Net realized (loss) gain | (73) | 4 | — | — | — | (69) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (depreciation) appreciation | Net change in unrealized (depreciation) appreciation | (36,665) | 14,600 | (480) | (258) | 11,837 | (10,966) | Net change in unrealized (depreciation) appreciation | (12,906) | (1,800) | (176) | 37 | 3,544 | (11,301) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of discount | Accretion of discount | 8,705 | 449 | — | 11 | — | 9,165 | Accretion of discount | 2,404 | 88 | — | 4 | — | 2,496 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (353,141) | (15,536) | (1,176) | — | (766) | (370,619) | Sales and principal repayments | (60,842) | — | (190) | — | — | (61,032) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | $ | (43,281) | $ | 798 | $ | (480) | $ | (257) | $ | 3,442 | $ | (39,778) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance, March 31, 2022 | Ending balance, March 31, 2022 | $ | 1,597,364 | $ | 36,875 | $ | 2,632 | $ | 27,280 | $ | 42,405 | $ | 1,706,556 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in net unrealized (depreciation) appreciation on investments still held as of March 31, 2022(1) | Change in net unrealized (depreciation) appreciation on investments still held as of March 31, 2022(1) | $ | (12,710) | $ | (1,800) | $ | (176) | $ | 37 | $ | 3,544 | $ | (11,105) |
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 |
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 | ||||||||||||||||||||||||||||||||||||||||||
Beginning balance, December 31, 2020 | $ | 1,223,268 | $ | 151,506 | $ | 12,131 | $ | 5,464 | $ | 75,913 | $ | 1,468,282 | |||||||||||||||||||||||||||||||||||
Investments purchased(1) | 580,641 | 1,885 | — | — | 7,783 | 590,309 | |||||||||||||||||||||||||||||||||||||||||
Net realized (loss) gain | (851) | 619 | (309) | — | 19,661 | 19,120 | |||||||||||||||||||||||||||||||||||||||||
Net change in unrealized appreciation | 17,599 | 592 | 2,908 | 76 | 5,373 | 26,548 | |||||||||||||||||||||||||||||||||||||||||
Accretion of discount | 8,742 | 512 | — | 11 | — | 9,265 | |||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments(1) | (400,843) | (55,615) | (1,718) | — | (41,212) | (499,388) | |||||||||||||||||||||||||||||||||||||||||
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) | $ | 14,459 | $ | (880) | $ | 1,962 | $ | 76 | $ | 19,858 | $ | 35,475 |
September 30, 2022 | March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 1,494,773 | Discounted Cash Flow | Discount Rates | 6.5% | — | 32.0% | 13.5% | Senior secured first lien debt | $ | 1,258,936 | Discounted Cash Flow | Discount Rates | 6.5% | — | 35.0% | 13.9% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
82,525 | Broker Quotes | Broker Quotes | N/A | N/A | 124,286 | Broker Quotes | Broker Quotes | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14,330 | Market Comparable Approach | Revenue Multiple | 0.27x | — | 1.65x | 1.47x | 45,643 | Market Comparable Approach | Revenue Multiple | 0.20x | — | 1.55x | 0.62x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4,699 | $ per kW | td31.85 | N/A | 39,376 | EBITDA Multiple | 5.75x | — | 12.5x | 10.45x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3,610 | EBITDA Multiple | 3.00x | — | 4.75x | 3.20x | 3,837 | $ per kW | td31.85 | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16,415 | Other(2) | Other(2) | N/A | N/A | 375 | Other(2) | Other(2) | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 38,716 | Discounted Cash Flow | Discount Rates | 8.8% | — | 20.8% | 16.1% | Senior secured second lien debt | 38,997 | Discounted Cash Flow | Discount Rates | 10.3% | — | 22.5% | 15.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 1,366 | Discounted Cash Flow | Discount Rates | 21.0% | N/A | Collateralized securities and structured products - equity | 1,133 | Discounted Cash Flow | Discount Rates | 21.0% | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 28,319 | Discounted Cash Flow | Discount Rates | 13.7% | — | 16.5% | 14.3% | Unsecured debt | 8,132 | Contingent Claims Analysis | Expected Volatility | 110.0% | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7,385 | Discounted Cash Flow | Discount Rates | 16.5% | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 34,188 | Market Comparable Approach | EBITDA Multiple | 3.75x | — | 14.55x | 6.70x | Equity | 69,263 | Market Comparable Approach | EBITDA Multiple | 3.75x | — | 15.50x | 10.08x | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
22,203 | $ per kW | $387.5 | N/A | 22,680 | $ per kW | $425 | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
17,169 | Revenue Multiple | 0.13x | — | 5.25x | 2.70x | 7,940 | Revenue Multiple | 0.13x | — | 6.00x | 3.25x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,279 | Broker Quotes | Broker Quotes | N/A | N/A | 1,075 | Broker Quotes | Broker Quotes | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
150 | Options Pricing Model | Expected Volatility | 61.1% | — | 90.0% | 89.4% | — | Options Pricing Model | Expected Volatility | 60.0% | — | 95.0% | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,759,742 | Total | $ | 1,629,058 |
December 31, 2021 | December 31, 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 | $ | 1,292,635 | Discounted Cash Flow | Discount Rates | 5.5% | — | 24.7% | 9.9% | Senior secured first lien debt | $ | 1,471,816 | Discounted Cash Flow | Discount Rates | 6.5% | — | 34.0% | 14.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
79,035 | Broker Quotes | Broker Quotes | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
183,768 | Broker Quotes | Broker Quotes | N/A | N/A | 20,050 | Market Comparable Approach | Revenue Multiple | 0.25x | — | 1.70x | 1.19x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
27,557 | Market Comparable Approach | EBITDA Multiple | 3.50x | — | 6.00x | 4.98x | 4,527 | $ per kW | td31.85 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6,327 | Revenue Multiple | 2.25x | N/A | 3,552 | EBITDA Multiple | 2.75x | — | 4.25x | 4.09x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16,702 | Other(2) | Other(2) | N/A | N/A | 532 | Other(2) | Other(2) | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 24,408 | Discounted Cash Flow | Discount Rates | 8.5% | — | 18.6% | 12.7% | Senior secured second lien debt | 38,769 | Discounted Cash Flow | Discount Rates | 14.3% | — | 21.5% | 17.2% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14,175 | Broker Quotes | Broker Quotes | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 2,998 | Discounted Cash Flow | Discount Rates | 16.0% | N/A | Collateralized securities and structured products - equity | 1,179 | Discounted Cash Flow | Discount Rates | 21.0% | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 26,616 | Discounted Cash Flow | Discount Rates | 12.7% | 16.2% | 13.6% | Unsecured debt | 15,316 | Market Comparable Approach | EBITDA Multiple | 9.25x | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7,327 | Discounted Cash Flow | Discount Rates | 17.7% | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 17,596 | Market Comparable Approach | EBITDA Multiple | 3.25x | — | 21.50x | 9.88x | Equity | 33,441 | Market Comparable Approach | EBITDA Multiple | 2.75x | — | 14.55x | 7.02x | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
15,127 | $ per kW | $325 | N/A | 23,995 | $ per kW | $412.5 | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4,032 | Revenue Multiple | 0.68x | — | 2.00x | 1.87x | 13,038 | Revenue Multiple | 0.13x | — | 5.75x | 2.93x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
981 | Options Pricing Model | Expected Volatility | 73.0% | — | 84.2% | 73.0% | 2,238 | Discounted Cash Flow | Discount Rates | 16.8% | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,234 | Broker Quotes | Broker Quotes | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 | Options Pricing Model | Expected Volatility | 80.0% | — | 90.0% | 87.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,632,922 | Total | $ | 1,716,054 |
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Professional fees | Professional fees | $ | 223 | $ | 1,355 | $ | 1,375 | $ | 3,833 | $ | 4,214 | Professional fees | $ | 526 | $ | 633 | $ | 1,778 | ||||||||||||||||||||||||||||||||||||||||
Dues and subscriptions | Dues and subscriptions | 429 | 535 | 791 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer agent expense | Transfer agent expense | 296 | 316 | 890 | 991 | 1,290 | Transfer agent expense | 268 | 291 | 1,124 | ||||||||||||||||||||||||||||||||||||||||||||||||
Dues and subscriptions | 112 | 120 | 727 | 316 | 411 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation expense | Valuation expense | 173 | 179 | 821 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Director fees and expenses | Director fees and expenses | 169 | 154 | 632 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Insurance expense | Insurance expense | 167 | 251 | 833 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting and administrative costs | Accounting and administrative costs | 166 | 157 | 524 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Printing and marketing expense | Printing and marketing expense | 672 | 235 | 705 | 634 | 990 | Printing and marketing expense | 5 | 5 | 708 | ||||||||||||||||||||||||||||||||||||||||||||||||
Insurance expense | 157 | 135 | 662 | 404 | 612 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation expense | 199 | 191 | 590 | 712 | 904 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting and administrative costs | 180 | 194 | 482 | 606 | 759 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Director fees and expenses | 162 | 151 | 477 | 365 | 516 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 26 | 12 | 53 | 89 | 109 | Other expenses | 52 | 17 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total general and administrative expense | Total general and administrative expense | $ | 2,027 | $ | 2,709 | $ | 5,961 | $ | 7,950 | $ | 9,805 | Total general and administrative expense | $ | 1,955 | $ | 2,222 | $ | 7,278 |
Unfunded Commitments | Unfunded Commitments | September 30, 2022(1) | December 31, 2021(1) | Unfunded Commitments | March 31, 2023(1) | December 31, 2022(1) | ||||||||||||||||||||||
Cennox, Inc. | Cennox, Inc. | $ | 9,583 | $ | — | Cennox, Inc. | $ | 7,193 | $ | 7,567 | ||||||||||||||||||
Service Compression, LLC | 6,977 | — | ||||||||||||||||||||||||||
Flatworld Intermediate Corp. | Flatworld Intermediate Corp. | 5,865 | 5,865 | |||||||||||||||||||||||||
Critical Nurse Staffing, LLC | Critical Nurse Staffing, LLC | 5,899 | 5,899 | Critical Nurse Staffing, LLC | 5,139 | 5,599 | ||||||||||||||||||||||
Instant Web, LLC | Instant Web, LLC | 5,845 | 2,704 | Instant Web, LLC | 4,763 | 5,628 | ||||||||||||||||||||||
American Health Staffing Group, Inc. | American Health Staffing Group, Inc. | 3,333 | 3,333 | |||||||||||||||||||||||||
Thrill Holdings LLC | Thrill Holdings LLC | 5,000 | — | Thrill Holdings LLC | 3,261 | 3,261 | ||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | 4,808 | 4,808 | ||||||||||||||||||||||||||
Trademark Global, LLC | 4,615 | 4,615 | ||||||||||||||||||||||||||
Dermcare Management, LLC | 4,081 | — | ||||||||||||||||||||||||||
Homer City Holdings LLC | 4,000 | — | ||||||||||||||||||||||||||
American Health Staffing Group, Inc. | 3,333 | 2,333 | ||||||||||||||||||||||||||
Mimeo.com, Inc. | Mimeo.com, Inc. | 3,000 | 5,000 | Mimeo.com, Inc. | 3,000 | 3,000 | ||||||||||||||||||||||
Service Compression, LLC | Service Compression, LLC | 2,791 | 4,186 | |||||||||||||||||||||||||
Coyote Buyer, LLC | Coyote Buyer, LLC | 2,500 | 2,500 | 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 | 2,200 | ||||||||||||||||||||||
Inotiv, Inc. | 2,100 | 2,100 | ||||||||||||||||||||||||||
Foundation Consumer Healthcare, LLC | 2,094 | 2,094 | ||||||||||||||||||||||||||
MacNeill Pride Group Corp. | MacNeill Pride Group Corp. | 2,017 | — | MacNeill Pride Group Corp. | 2,017 | 2,017 | ||||||||||||||||||||||
RumbleOn, Inc. | 1,775 | 6,000 | ||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | BDS Solutions Intermediateco, LLC | 1,998 | 1,998 | |||||||||||||||||||||||||
Archer Systems, LLC | Archer Systems, LLC | 1,905 | 1,905 | |||||||||||||||||||||||||
Bradshaw International Parent Corp. | Bradshaw International Parent Corp. | 1,844 | 1,844 | |||||||||||||||||||||||||
Rogers Mechanical Contractors, LLC | Rogers Mechanical Contractors, LLC | 1,827 | 3,365 | |||||||||||||||||||||||||
Dermcare Management, LLC | Dermcare Management, LLC | 1,683 | 1,862 | |||||||||||||||||||||||||
Sleep Opco, LLC | Sleep Opco, LLC | 1,750 | 1,750 | Sleep Opco, LLC | 1,225 | 1,750 | ||||||||||||||||||||||
Extreme Reach, Inc. | 1,744 | 1,744 | ||||||||||||||||||||||||||
Archer Systems, LLC | 1,690 | — | ||||||||||||||||||||||||||
Optio Rx, LLC | 1,530 | — | ||||||||||||||||||||||||||
Bradshaw International Parent Corp. | 1,076 | 1,445 | ||||||||||||||||||||||||||
OpCo Borrower, LLC | OpCo Borrower, LLC | 1,042 | 833 | |||||||||||||||||||||||||
Williams Industrial Services Group, Inc. | Williams Industrial Services Group, Inc. | 1,000 | — | |||||||||||||||||||||||||
RA Outdoors, LLC | RA Outdoors, LLC | 1,049 | 1,049 | RA Outdoors, LLC | 735 | 1,049 | ||||||||||||||||||||||
Ironhorse Purchaser, LLC | Ironhorse Purchaser, LLC | 707 | 2,469 | |||||||||||||||||||||||||
WorkGenius, Inc. | WorkGenius, Inc. | 570 | 750 | |||||||||||||||||||||||||
NWN Parent Holdings LLC | NWN Parent Holdings LLC | 990 | 1,380 | NWN Parent Holdings LLC | 480 | 90 | ||||||||||||||||||||||
OpCo Borrower, LLC | 625 | — | ||||||||||||||||||||||||||
BDS Solutions Intermediateco, LLC | 474 | — | ||||||||||||||||||||||||||
Invincible Boat Company LLC | Invincible Boat Company LLC | 239 | 798 | Invincible Boat Company LLC | 239 | 559 | ||||||||||||||||||||||
American Teleconferencing Services, Ltd. | American Teleconferencing Services, Ltd. | 235 | 235 | American Teleconferencing Services, Ltd. | 235 | 235 | ||||||||||||||||||||||
H.W. Lochner, Inc. | H.W. Lochner, Inc. | 225 | 275 | H.W. Lochner, Inc. | 225 | 225 | ||||||||||||||||||||||
Anthem Sports & Entertainment Inc. | Anthem Sports & Entertainment Inc. | 167 | 1,167 | Anthem Sports & Entertainment Inc. | 167 | 167 | ||||||||||||||||||||||
Genesis Healthcare, Inc. | — | 35,000 | ||||||||||||||||||||||||||
West Dermatology Management Holdings, LLC | — | 6,308 | ||||||||||||||||||||||||||
Williams Industrial Services Group, Inc. | — | 5,000 | ||||||||||||||||||||||||||
Molded Devices, Inc. | — | 4,426 | ||||||||||||||||||||||||||
American Media, Inc. | — | 1,702 | ||||||||||||||||||||||||||
Marble Point Credit Management LLC | — | 1,250 | ||||||||||||||||||||||||||
Appalachian Resource Company, LLC | — | 500 | ||||||||||||||||||||||||||
Homer City Holdings LLC | Homer City Holdings LLC | — | 3,000 | |||||||||||||||||||||||||
RumbleOn, Inc. | RumbleOn, Inc. | — | 1,775 | |||||||||||||||||||||||||
STATinMED, LLC | STATinMED, LLC | — | 156 | |||||||||||||||||||||||||
Total | Total | $ | 83,853 | $ | 107,247 | Total | $ | 60,176 | $ | 71,420 |
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Amendment fees | Amendment fees | $ | 2,724 | $ | 395 | $ | 2,633 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commitment fees | Commitment fees | 309 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Administrative agent fees | Administrative agent fees | 30 | 25 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital structuring and other fees | Capital structuring and other fees | $ | 894 | $ | 1,470 | $ | 3,908 | $ | 2,554 | $ | 4,973 | Capital structuring and other fees | — | 1,022 | 4,446 | |||||||||||||||||||||||||||||||||||||||||||
Conversion fees | Conversion fees | 2,365 | — | 2,365 | — | — | Conversion fees | — | — | 2,365 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amendment fees | 1,302 | 73 | 2,272 | 747 | 869 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Administrative agent fees | — | — | 25 | 55 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 4,561 | $ | 1,543 | $ | 8,570 | $ | 3,356 | $ | 5,927 | Total | $ | 3,063 | $ | 1,442 | $ | 9,544 |
Nine Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2021 | 2023 | 2022 | 2022 | |||||||||||||||||||||||||||||||||||
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 | $ | 15.98 | $ | 16.34 | $ | 16.34 | ||||||||||||||||||||||||||
Results of operations: | Results of operations: | Results of operations: | ||||||||||||||||||||||||||||||||||||||
Net investment income | Net investment income | 1.13 | 0.98 | 1.31 | Net investment income | 0.54 | 0.34 | 1.56 | ||||||||||||||||||||||||||||||||
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) | 0.71 | 1.81 | 2.10 | |||||||||||||||||||||||||||||||||||||
Net realized loss and net change in unrealized depreciation on investments and loss on foreign currency(2) | Net realized loss and net change in unrealized depreciation on investments and loss on foreign currency(2) | (1.10) | (0.20) | (0.68) | ||||||||||||||||||||||||||||||||||||
Net (decrease) increase in net assets resulting from operations(2) | Net (decrease) increase in net assets resulting from operations(2) | (0.56) | 0.14 | 0.88 | ||||||||||||||||||||||||||||||||||||
Shareholder distributions: | Shareholder distributions: | Shareholder distributions: | ||||||||||||||||||||||||||||||||||||||
Distributions from net investment income | Distributions from net investment income | (0.87) | (0.79) | (1.26) | Distributions from net investment income | (0.34) | (0.28) | (1.44) | ||||||||||||||||||||||||||||||||
Net decrease in net assets resulting from shareholders' distributions | Net decrease in net assets resulting from shareholders' distributions | (0.87) | (0.79) | (1.26) | Net decrease in net assets resulting from shareholders' distributions | (0.34) | (0.28) | (1.44) | ||||||||||||||||||||||||||||||||
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 below net asset value(4) | Repurchases of common stock below net asset value(4) | 0.08 | — | — | Repurchases of common stock below net asset value(4) | 0.03 | — | 0.20 | ||||||||||||||||||||||||||||||||
Net increase in net assets resulting from capital share transactions | Net increase in net assets resulting from capital share transactions | 0.08 | — | — | Net increase in net assets resulting from capital share transactions | 0.03 | — | 0.20 | ||||||||||||||||||||||||||||||||
Net asset value at end of period | Net asset value at end of period | $ | 16.26 | $ | 16.52 | $ | 16.34 | Net asset value at end of period | $ | 15.11 | $ | 16.20 | $ | 15.98 | ||||||||||||||||||||||||||
Shares of common stock outstanding at end of period | Shares of common stock outstanding at end of period | 56,262,964 | 56,958,440 | 56,958,440 | Shares of common stock outstanding at end of period | 54,961,455 | 56,958,440 | 55,299,484 | ||||||||||||||||||||||||||||||||
Total investment return-net asset value(5) | Total investment return-net asset value(5) | 7.43 | % | 11.98 | % | 14.43 | % | Total investment return-net asset value(5) | (2.17) | % | 1.01 | % | 10.44 | % | ||||||||||||||||||||||||||
Total investment return-market value(6) | Total investment return-market value(6) | (29.81) | % | — | 3.87 | % | Total investment return-market value(6) | 4.75 | % | 15.38 | % | (14.87) | % | |||||||||||||||||||||||||||
Net assets at beginning of period | Net assets at beginning of period | $ | 930,512 | $ | 878,256 | $ | 878,256 | Net assets at beginning of period | $ | 883,634 | $ | 930,512 | $ | 930,512 | ||||||||||||||||||||||||||
Net assets at end of period | Net assets at end of period | $ | 914,906 | $ | 941,013 | $ | 930,512 | Net assets at end of period | $ | 830,310 | $ | 922,453 | $ | 883,634 | ||||||||||||||||||||||||||
Average net assets | Average net assets | $ | 922,203 | $ | 911,856 | $ | 918,824 | Average net assets | $ | 875,337 | $ | 931,165 | $ | 917,781 | ||||||||||||||||||||||||||
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 | 6.98 | % | 6.13 | % | 8.09 | % | Ratio of net investment income to average net assets | 3.41 | % | 2.09 | % | 9.61 | % | ||||||||||||||||||||||||||
Ratio of gross operating expenses to average net assets(7) | 8.14 | % | 6.69 | % | 9.04 | % | ||||||||||||||||||||||||||||||||||
Ratio of net operating expenses to average net assets | Ratio of net operating expenses to average net assets | 8.14 | % | 6.69 | % | 9.04 | % | Ratio of net operating expenses to average net assets | 4.01 | % | 2.38 | % | 11.63 | % | ||||||||||||||||||||||||||
Portfolio turnover rate | Portfolio turnover rate | 18.66 | % | 32.40 | % | 52.04 | % | Portfolio turnover rate | 1.35 | % | 3.60 | % | 26.81 | % | ||||||||||||||||||||||||||
Total amount of senior securities outstanding | Total amount of senior securities outstanding | $ | 957,500 | $ | 805,000 | $ | 830,000 | Total amount of senior securities outstanding | $ | 1,010,712 | $ | 875,000 | $ | 957,500 | ||||||||||||||||||||||||||
Asset coverage ratio | Asset coverage ratio | 1.96 | 2.17 | 2.12 | Asset coverage ratio | 1.82 | 2.05 | 1.92 |
Three Months Ended September 30, | Year Ended December 31, | Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Activity | Net Investment Activity | 2022 | 2021 | 2021 | Net Investment Activity | 2023 | 2022 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases and drawdowns | Purchases and drawdowns | Purchases and drawdowns | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured first lien debt | Senior secured first lien debt | $ | 119,789 | $ | 160,124 | $ | 868,031 | Senior secured first lien debt | $ | 22,221 | $ | 136,698 | $ | 524,293 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 18,108 | — | — | Senior secured second lien debt | — | — | 19,932 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured debt | — | — | 20,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 3,379 | 4,909 | 32,008 | Equity | 2,000 | 1,125 | 6,313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and principal repayments | Sales and principal repayments | (154,872) | (223,214) | (827,958) | Sales and principal repayments | (66,274) | (61,031) | (469,760) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net portfolio activity | Net portfolio activity | $ | (13,596) | $ | (58,181) | $ | 92,081 | Net portfolio activity | $ | (42,053) | $ | 76,792 | $ | 80,778 |
September 30, 2022 | March 31, 2023 | |||||||||||||||||||||||||||||||||||||||
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 | $ | 1,690,919 | $ | 1,616,352 | 89.8 | % | Senior secured first lien debt | $ | 1,567,330 | $ | 1,472,453 | 88.8 | % | ||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 40,988 | 38,716 | 2.2 | % | Senior secured second lien debt | 41,102 | 38,997 | 2.4 | % | ||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 2,733 | 1,366 | 0.1 | % | Collateralized securities and structured products - equity | 2,606 | 1,133 | 0.1 | % | ||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 28,738 | 28,319 | 1.6 | % | Unsecured debt | 30,431 | 15,517 | 0.9 | % | ||||||||||||||||||||||||||||||
Equity | Equity | 78,795 | 112,491 | 6.3 | % | Equity | 115,514 | 128,926 | 7.8 | % | ||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,842,173 | 1,797,244 | 100.0 | % | Subtotal/total percentage | 1,756,983 | 1,657,026 | 100.0 | % | ||||||||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 9,804 | 9,804 | Short term investments(2) | 66,326 | 66,326 | ||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,851,977 | $ | 1,807,048 | Total investments | $ | 1,823,309 | $ | 1,723,352 | ||||||||||||||||||||||||||||||
Number of portfolio companies | Number of portfolio companies | 119 | Number of portfolio companies | 109 | ||||||||||||||||||||||||||||||||||||
Average annual EBITDA of portfolio companies | Average annual EBITDA of portfolio companies | $57.2 million | Average annual EBITDA of portfolio companies | $56.0 million | ||||||||||||||||||||||||||||||||||||
Median annual EBITDA of portfolio companies | Median annual EBITDA of portfolio companies | $37.3 million | Median annual EBITDA of portfolio companies | $35.0 million | ||||||||||||||||||||||||||||||||||||
Purchased at a weighted average price of par | Purchased at a weighted average price of par | 97.19 | % | Purchased at a weighted average price of par | 97.81 | % | ||||||||||||||||||||||||||||||||||
Gross annual portfolio yield based upon the purchase price(3) | Gross annual portfolio yield based upon the purchase price(3) | 10.33 | % | Gross annual portfolio yield based upon the purchase price(3) | 11.18 | % |
December 31, 2021 | December 31, 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 | $ | 1,564,891 | $ | 1,526,989 | 91.6 | % | Senior secured first lien debt | $ | 1,638,995 | $ | 1,579,512 | 90.3 | % | ||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 55,455 | 38,583 | 2.3 | % | Senior secured second lien debt | 41,036 | 38,769 | 2.2 | % | ||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 3,885 | 2,998 | 0.2 | % | Collateralized securities and structured products - equity | 2,687 | 1,179 | 0.1 | % | ||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 26,777 | 26,616 | 1.6 | % | Unsecured debt | 30,427 | 22,643 | 1.3 | % | ||||||||||||||||||||||||
Equity | Equity | 53,379 | 70,936 | 4.3 | % | Equity | 79,595 | 107,058 | 6.1 | % | ||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,704,387 | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,792,740 | 1,749,161 | 100.0 | % | ||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 87,917 | 87,917 | Short term investments(2) | 10,869 | 10,869 | ||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,792,304 | $ | 1,754,039 | Total investments | $ | 1,803,609 | $ | 1,760,030 | ||||||||||||||||||||||||
Number of portfolio companies | Number of portfolio companies | 113 | Number of portfolio companies | 113 | ||||||||||||||||||||||||||||||
Average annual EBITDA of portfolio companies | Average annual EBITDA of portfolio companies | $50.4 million | Average annual EBITDA of portfolio companies | $55.2 million | ||||||||||||||||||||||||||||||
Median annual EBITDA of portfolio companies | Median annual EBITDA of portfolio companies | $36.3 million | Median annual EBITDA of portfolio companies | $35.0 million | ||||||||||||||||||||||||||||||
Purchased at a weighted average price of par | Purchased at a weighted average price of par | 98.13 | % | Purchased at a weighted average price of par | 97.81 | % | ||||||||||||||||||||||||||||
Gross annual portfolio yield based upon the purchase price(3) | Gross annual portfolio yield based upon the purchase price(3) | 8.62 | % | Gross annual portfolio yield based upon the purchase price(3) | 11.80 | % |
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 1,561,760 | $ | 1,489,416 | 82.9 | % | $ | 1,454,429 | $ | 1,403,097 | 84.2 | % | Floating interest rate investments | $ | 1,480,336 | $ | 1,390,918 | 84.0 | % | $ | 1,539,214 | $ | 1,477,630 | 84.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed interest rate investments | Fixed interest rate investments | 193,971 | 188,045 | 10.5 | % | 176,326 | 172,162 | 10.3 | % | Fixed interest rate investments | 158,527 | 134,681 | 8.1 | % | 166,297 | 157,006 | 9.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-income producing investments | Non-income producing investments | 75,261 | 110,018 | 6.1 | % | 49,845 | 67,532 | 4.1 | % | Non-income producing investments | 87,203 | 78,278 | 4.7 | % | 76,061 | 104,619 | 6.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income producing investments | Other income producing investments | 11,181 | 9,765 | 0.5 | % | 23,787 | 23,331 | 1.4 | % | Other income producing investments | 30,917 | 53,149 | 3.2 | % | 11,168 | 9,906 | 0.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,842,173 | $ | 1,797,244 | 100.0 | % | $ | 1,704,387 | $ | 1,666,122 | 100.0 | % | Total investments | $ | 1,756,983 | $ | 1,657,026 | 100.0 | % | $ | 1,792,740 | $ | 1,749,161 | 100.0 | % |
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 354,725 | 19.7 | % | $ | 240,316 | 14.4 | % | Services: Business | $ | 340,815 | 20.6 | % | $ | 336,055 | 19.2 | % | ||||||||||||||||||||||||||||||||||
Healthcare & Pharmaceuticals | Healthcare & Pharmaceuticals | 279,102 | 15.5 | % | 250,049 | 15.0 | % | Healthcare & Pharmaceuticals | 232,306 | 14.0 | % | 237,082 | 13.6 | % | ||||||||||||||||||||||||||||||||||||||
Media: Diversified & Production | Media: Diversified & Production | 159,236 | 8.9 | % | 139,399 | 8.4 | % | Media: Diversified & Production | 126,177 | 7.6 | % | 134,927 | 7.7 | % | ||||||||||||||||||||||||||||||||||||||
Services: Consumer | Services: Consumer | 117,340 | 6.5 | % | 119,365 | 7.2 | % | Services: Consumer | 106,082 | 6.4 | % | 115,849 | 6.6 | % | ||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | Media: Advertising, Printing & Publishing | 87,247 | 5.3 | % | 105,375 | 6.0 | % | |||||||||||||||||||||||||||||||||||||||||||||
Diversified Financials | Diversified Financials | 106,426 | 5.9 | % | 101,032 | 6.1 | % | Diversified Financials | 81,724 | 4.9 | % | 99,819 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||
High Tech Industries | 81,364 | 4.5 | % | 65,544 | 3.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Media: Advertising, Printing & Publishing | 78,855 | 4.4 | % | 94,610 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Chemicals, Plastics & Rubber | Chemicals, Plastics & Rubber | 66,927 | 3.7 | % | 109,860 | 6.6 | % | Chemicals, Plastics & Rubber | 66,992 | 4.0 | % | 66,753 | 3.8 | % | ||||||||||||||||||||||||||||||||||||||
Retail | 64,919 | 3.6 | % | 56,726 | 3.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Energy: Oil & Gas | Energy: Oil & Gas | 62,688 | 3.5 | % | 32,164 | 1.9 | % | Energy: Oil & Gas | 65,343 | 3.9 | % | 68,756 | 3.9 | % | ||||||||||||||||||||||||||||||||||||||
Consumer Goods: Durable | Consumer Goods: Durable | 61,165 | 3.4 | % | 58,124 | 3.5 | % | Consumer Goods: Durable | 62,420 | 3.8 | % | 60,735 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||
Retail | Retail | 57,034 | 3.4 | % | 74,718 | 4.3 | % | |||||||||||||||||||||||||||||||||||||||||||||
High Tech Industries | High Tech Industries | 53,597 | 3.2 | % | 56,501 | 3.2 | % | |||||||||||||||||||||||||||||||||||||||||||||
Construction & Building | Construction & Building | 51,310 | 3.1 | % | 46,007 | 2.6 | % | |||||||||||||||||||||||||||||||||||||||||||||
Beverage, Food & Tobacco | Beverage, Food & Tobacco | 44,519 | 2.7 | % | 45,396 | 2.6 | % | |||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Non-Durable | Consumer Goods: Non-Durable | 42,305 | 2.6 | % | 47,886 | 2.8 | % | |||||||||||||||||||||||||||||||||||||||||||||
Capital Equipment | Capital Equipment | 41,713 | 2.5 | % | 41,580 | 2.4 | % | |||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 39,195 | 2.4 | % | 38,842 | 2.2 | % | |||||||||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | Banking, Finance, Insurance & Real Estate | 39,048 | 2.4 | % | 43,836 | 2.5 | % | |||||||||||||||||||||||||||||||||||||||||||||
Hotel, Gaming & Leisure | Hotel, Gaming & Leisure | 53,065 | 3.0 | % | 50,855 | 3.0 | % | Hotel, Gaming & Leisure | 38,520 | 2.3 | % | 46,739 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||
Beverage, Food & Tobacco | 49,641 | 2.8 | % | 49,054 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Construction & Building | 42,060 | 2.3 | % | 27,585 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Capital Equipment | 41,183 | 2.3 | % | 82,795 | 5.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Banking, Finance, Insurance & Real Estate | 39,631 | 2.2 | % | 40,634 | 2.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | 38,683 | 2.2 | % | 38,279 | 2.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer Goods: Non-Durable | 35,647 | 2.0 | % | 45,682 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Containers, Packaging & Glass | Containers, Packaging & Glass | 19,477 | 1.2 | % | 19,551 | 1.1 | % | |||||||||||||||||||||||||||||||||||||||||||||
Telecommunications | Telecommunications | 18,842 | 1.0 | % | 24,649 | 1.5 | % | Telecommunications | 18,315 | 1.1 | % | 18,302 | 1.1 | % | ||||||||||||||||||||||||||||||||||||||
Automotive | Automotive | 17,259 | 1.0 | % | 14,367 | 0.9 | % | Automotive | 16,395 | 1.0 | % | 16,255 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||
Metals & Mining | Metals & Mining | 16,202 | 0.9 | % | 10,927 | 0.7 | % | Metals & Mining | 15,836 | 1.0 | % | 15,780 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||
Transportation: Cargo | Transportation: Cargo | 12,284 | 0.7 | % | 14,106 | 0.8 | % | Transportation: Cargo | 10,656 | 0.6 | % | 12,417 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,797,244 | 100.0 | % | 1,666,122 | 100.0 | % | Subtotal/total percentage | 1,657,026 | 100.0 | % | 1,749,161 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||
Short term investments | Short term investments | 9,804 | 87,917 | Short term investments | 66,326 | 10,869 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,807,048 | $ | 1,754,039 | Total investments | $ | 1,723,352 | $ | 1,760,030 |
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. |
September 30, 2022 | December 31, 2021 | March 31, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 63,230 | 3.5 | % | $ | 47,221 | 2.8 | % | 1 | $ | 1,530 | 0.1 | % | $ | 24,450 | 1.4 | % | ||||||||||||||||||||||||||||||||||
2 | 2 | 1,521,269 | 84.7 | % | 1,373,509 | 82.5 | % | 2 | 1,410,148 | 85.1 | % | 1,424,681 | 81.5 | % | ||||||||||||||||||||||||||||||||||||||
3 | 3 | 204,993 | 11.4 | % | 233,223 | 14.0 | % | 3 | 187,757 | 11.3 | % | 260,662 | 14.9 | % | ||||||||||||||||||||||||||||||||||||||
4 | 4 | 7,035 | 0.4 | % | 8,201 | 0.5 | % | 4 | 31,414 | 1.9 | % | 39,032 | 2.2 | % | ||||||||||||||||||||||||||||||||||||||
5 | 5 | 717 | — | 3,968 | 0.2 | % | 5 | 26,177 | 1.6 | % | 336 | — | ||||||||||||||||||||||||||||||||||||||||
$ | 1,797,244 | 100.0 | % | $ | 1,666,122 | 100.0 | % | $ | 1,657,026 | 100.0 | % | $ | 1,749,161 | 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 | $ | 1,625,390 | 90.0 | % | Senior secured first lien debt | $ | 1,424,228 | 87.1 | % | ||||||||||||||||||||||||||||||
Senior secured second lien debt | Senior secured second lien debt | 38,716 | 2.1 | % | Senior secured second lien debt | 38,992 | 2.4 | % | ||||||||||||||||||||||||||||||||
Collateralized securities and structured products - equity | Collateralized securities and structured products - equity | 1,366 | 0.1 | % | Collateralized securities and structured products - equity | 1,133 | 0.1 | % | ||||||||||||||||||||||||||||||||
Unsecured debt | Unsecured debt | 28,319 | 1.6 | % | Unsecured debt | 15,517 | 0.9 | % | ||||||||||||||||||||||||||||||||
Equity | Equity | 112,459 | 6.2 | % | Equity | 155,883 | 9.5 | % | ||||||||||||||||||||||||||||||||
Subtotal/total percentage | Subtotal/total percentage | 1,806,250 | 100.0 | % | Subtotal/total percentage | 1,635,753 | 100.0 | % | ||||||||||||||||||||||||||||||||
Short term investments(2) | Short term investments(2) | 15,885 | Short term investments(2) | 66,876 | ||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,822,135 | Total investments | $ | 1,702,629 | ||||||||||||||||||||||||||||||||||
Number of portfolio companies | Number of portfolio companies | 119 | Number of portfolio companies | 109 | ||||||||||||||||||||||||||||||||||||
Average annual EBITDA of portfolio companies | Average annual EBITDA of portfolio companies | $56.9 million | Average annual EBITDA of portfolio companies | $55.6 million | ||||||||||||||||||||||||||||||||||||
Median annual EBITDA of portfolio companies | Median annual EBITDA of portfolio companies | $39.3 million | Median annual EBITDA of portfolio companies | $33.7 million | ||||||||||||||||||||||||||||||||||||
Purchased at a weighted average price of par | Purchased at a weighted average price of par | 97.93 | % | Purchased at a weighted average price of par | 97.78 | % | ||||||||||||||||||||||||||||||||||
Gross annual portfolio yield based upon the purchase price(2) | Gross annual portfolio yield based upon the purchase price(2) | 10.35 | % | Gross annual portfolio yield based upon the purchase price(2) | 10.99 | % |
Three Months Ended September 30, | Three Months Ended March 31, | |||||||||||||||||||||
2022 | 2021 | 2023 | 2022 | |||||||||||||||||||
Investment income | Investment income | $ | 54,163 | $ | 42,620 | Investment income | $ | 64,975 | $ | 41,683 | ||||||||||||
Operating expenses and income taxes | Operating expenses and income taxes | 28,606 | 23,008 | Operating expenses and income taxes | 35,117 | 22,200 | ||||||||||||||||
Net investment income after taxes | Net investment income after taxes | 25,557 | 19,612 | Net investment income after taxes | 29,858 | 19,483 | ||||||||||||||||
Net realized (loss) gain on investments and foreign currency | (17,169) | 19,736 | ||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 25,595 | (14,240) | ||||||||||||||||||||
Net realized loss on investments and foreign currency | Net realized loss on investments and foreign currency | (4,525) | (69) | |||||||||||||||||||
Net change in unrealized depreciation on investments | Net change in unrealized depreciation on investments | (56,378) | (11,525) | |||||||||||||||||||
Net increase in net assets resulting from operations | $ | 33,983 | $ | 25,108 | ||||||||||||||||||
Net (decrease) increase in net assets resulting from operations | Net (decrease) increase in net assets resulting from operations | $ | (31,045) | $ | 7,889 |
Three Months Ended September 30, | |||||||||||
2022 | 2021 | ||||||||||
Management fees | $ | 6,942 | $ | 8,443 | |||||||
Administrative services expense | 733 | 722 | |||||||||
Subordinated incentive fee on income | 5,421 | 2,933 | |||||||||
General and administrative | 2,027 | 2,709 | |||||||||
Interest expense | 13,469 | 8,175 | |||||||||
Income tax expense, including excise tax | 14 | 26 | |||||||||
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, | Three Months Ended March 31, | |||||||||||||||||||||
2022 | 2021 | 2023 | 2022 | |||||||||||||||||||
Management fees | Management fees | $ | 20,436 | $ | 24,469 | Management fees | $ | 6,676 | $ | 6,655 | ||||||||||||
Administrative services expense | Administrative services expense | 2,234 | 2,103 | Administrative services expense | 837 | 720 | ||||||||||||||||
Subordinated incentive fee on income | Subordinated incentive fee on income | 13,645 | 2,933 | Subordinated incentive fee on income | 6,335 | 4,133 | ||||||||||||||||
General and administrative | General and administrative | 5,961 | 7,950 | General and administrative | 1,955 | 2,222 | ||||||||||||||||
Interest expense | Interest expense | 32,769 | 23,551 | Interest expense | 19,309 | 8,459 | ||||||||||||||||
Income tax expense, including excise tax | Income tax expense, including excise tax | 25 | 41 | Income tax expense, including excise tax | 5 | 11 | ||||||||||||||||
Total operating expenses and income taxes | Total operating expenses and income taxes | $ | 75,070 | $ | 61,047 | Total operating expenses and income taxes | $ | 35,117 | $ | 22,200 |
Nine Months Ended September 30, | |||||||||||
2022 | 2021 | ||||||||||
Professional fees | $ | 1,375 | $ | 3,833 | |||||||
Transfer agent expense | 890 | 991 | |||||||||
Dues and subscriptions | 727 | 316 | |||||||||
Printing and marketing expense | 705 | 634 | |||||||||
Insurance expense | 662 | 404 | |||||||||
Valuation expense | 590 | 712 | |||||||||
Accounting and administrative costs | 482 | 606 | |||||||||
Director fees and expenses | 477 | 365 | |||||||||
Other expenses | 53 | 89 | |||||||||
Total general and administrative expense | $ | 5,961 | $ | 7,950 |
Three Months Ended March 31, | |||||||||||
2023 | 2022 | ||||||||||
Professional fees | $ | 526 | $ | 633 | |||||||
Dues and subscriptions | 429 | 535 | |||||||||
Transfer agent expense | 268 | 291 | |||||||||
Valuation expense | 173 | 179 | |||||||||
Director fees and expenses | 169 | 154 | |||||||||
Insurance expense | 167 | 251 | |||||||||
Accounting and administrative costs | 166 | 157 | |||||||||
Printing and marketing expense | 5 | 5 | |||||||||
Other expenses | 52 | 17 | |||||||||
Total general and administrative expense | $ | 1,955 | $ | 2,222 |
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 |
Distributions | ||||||||||||||
Three Months Ended | Per Share | Amount | ||||||||||||
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 | ||||||||||||
December 31, 2022 (two record dates) | 0.5800 | 32,074 | ||||||||||||
Total distributions for the year ended December 31, 2022 | $ | 1.4500 | $ | 81,575 | ||||||||||
2023 | ||||||||||||||
March 31, 2023 (one record date) | $ | 0.3400 | $ | 18,687 | ||||||||||
Total distributions for the three months ended March 31, 2023 | $ | 0.3400 | $ | 18,687 |
Basis Point Change in Interest Rates | Basis Point Change in Interest Rates | (Decrease) Increase 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 300 basis points | $ | (14,417) | (14.3) | % | ||||||||||||||||||
Down 200 basis points | Down 200 basis points | (10,866) | (9.3) | % | Down 200 basis points | (9,783) | (9.7) | % | ||||||||||||||||||||
Down 100 basis points | Down 100 basis points | (6,390) | (5.5) | % | Down 100 basis points | (4,926) | (4.9) | % | ||||||||||||||||||||
Down 50 basis points | Down 50 basis points | (3,247) | (2.8) | % | Down 50 basis points | (2,486) | (2.5) | % | ||||||||||||||||||||
No change to current base rate (3.16% as of September 30, 2022) | — | — | ||||||||||||||||||||||||||
No change to current base rate (4.96% as of March 31, 2023) | No change to current base rate (4.96% as of March 31, 2023) | — | — | |||||||||||||||||||||||||
Up 50 basis points | Up 50 basis points | 3,341 | 2.9 | % | Up 50 basis points | 2,395 | 2.4 | % | ||||||||||||||||||||
Up 100 basis points | Up 100 basis points | 6,824 | 5.8 | % | Up 100 basis points | 4,835 | 4.8 | % | ||||||||||||||||||||
Up 200 basis points | Up 200 basis points | 13,791 | 11.8 | % | Up 200 basis points | 9,716 | 9.6 | % | ||||||||||||||||||||
Up 300 basis points | Up 300 basis points | 20,757 | 17.8 | % | Up 300 basis points | 14,596 | 14.5 | % |
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) |
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 | ||||||||||||||||||||||
January 1 to January 31, 2023 | 129,882 | $ | 10.58 | 129,882 | (1) | |||||||||||||||||||||
February 1 to February 28, 2023 | 114,733 | 11.06 | 114,733 | (1) | ||||||||||||||||||||||
March 1 to March 31, 2023 | 93,423 | 10.17 | 93,423 | (1) | ||||||||||||||||||||||
Total | 338,038 | $ | 10.63 | 338,038 | (1) |
Exhibit Number | Description of Document | |||||||
2.1 | ||||||||
3.1 | ||||||||
3.2 | ||||||||
3.3 | ||||||||
4.1 | ||||||||
4.2 | ||||||||
4.3 | ||||||||
10.1 | ||||||||
10.2 | ||||||||
Exhibit Number | Description of Document | |||||||
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)). | ||||||||
10.26 | ||||||||
14.1 | ||||||||
21.1 | ||||||||
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) |