Quarterly report pursuant to Section 13 or 15(d)

Consolidated Schedule of Investments In and Advances to Affiliates

v3.23.1
Consolidated Schedule of Investments In and Advances to Affiliates
3 Months Ended
Mar. 31, 2023
Investments in and Advances to Affiliates [Abstract]  
Consolidated Schedule of Investments In and Advances to Affiliates
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2022 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2023 Fair Value (13)
Control Investments
GRT Rubber Technologies LLC 10.66% L+ 6.00% Secured Debt (12) (8) $ —  $ $ 13  $ 330  $ 145  $ —  $ 475 
12.66% L+ 8.00% Secured Debt (8) —  (12) 634  19,943  13  12  19,944 
Member Units (8) —  —  21  21,890  —  —  21,890 
Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) 631  (675) 141  7,552  1,031  1,574  7,009 
Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  —  —  588  —  —  588 
Other
Amounts related to
investments transferred to
or from other
1940 Act classification
during the period
—  —  —  —  —  —  — 
Total Control Investments $ 631  $ (686) $ 809  $ 50,303  $ 1,189  $ 1,586  $ 49,906 
Affiliate Investments
AFG Capital Group, LLC Preferred Member Units (8) $ —  $ —  $ —  $ 2,350  $ —  $ —  $ 2,350 
ASK (Analytical Systems Keco Holdings, LLC) L+ 10.00% Secured Debt (8) —  —  (2) —  —  (2)
14.75% L+ 10.00% Secured Debt (8) —  —  47  1,135  18  1,122 
14.13% Preferred Member Units (8) —  —  —  —  —  —  — 
Preferred Member Units (8) —  20  —  880  20  —  900 
Warrants (8) —  —  —  —  —  —  — 
ATX Networks Corp. L+ 7.50% Secured Debt (6) —  (102) 682  6,368  545  6,913  — 
10.00% Unsecured Debt (6) —  (276) 1,135  2,614  1,135  3,749  — 
Common Stock (6) 3,178  (3,290) —  3,290  3,178  6,468  — 
Barfly Ventures, LLC Member Units (5) —  (93) —  1,107  —  94  1,013 
Batjer TopCo, LLC Secured Debt (8) —  —  —  (1) —  —  (1)
11.00% Secured Debt (8) —  —  36  1,205  50  1,157 
Preferred Stock (8) —  225  19  455  225  —  680 
Brewer Crane Holdings, LLC 14.66% L+ 10.00% Secured Debt (9) —  —  53  1,491  —  31  1,460 
Preferred Member Units (9) —  (130) 1,770  —  130  1,640 
Centre Technologies Holdings, LLC L+ 9.00% Secured Debt (12) (8) —  —  —  —  —  — 
13.75% L+ 9.00% Secured Debt (8) —  —  130  3,731  —  3,733 
Preferred Member Units (8) —  150  2,170  150  —  2,320 
Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  —  —  —  —  — 
12.86% SF+ 8.00% Secured Debt (8) —  (3) 137  4,236  4,236 
Member Units (8) —  (30) 71  5,728  —  28  5,700 
Member Units (8) —  30  678  30  —  708 
Charps, LLC Preferred Member Units (5) —  60  49  3,330  60  —  3,390 
Clad-Rex Steel, LLC SF+ 9.00% Secured Debt (12) (5) —  —  —  —  —  —  — 
13.79% SF+ 9.00% Secured Debt (5) —  —  89  2,620  —  120  2,500 
10.00% Secured Debt (5) —  —  260  —  258 
Member Units (5) —  (270) 13  2,060  —  270  1,790 
Member Units (5) —  55  —  152  55  —  207 
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2022 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2023 Fair Value (13)
Cody Pools, Inc. 15.50% L+ 10.50% Secured Debt (12) (8) —  11  273  80  196 
15.50% L+ 10.50% Secured Debt (8) —  (7) 268  6,882  83  6,806 
Preferred Member Units (8) —  240  14,550  240  —  14,790 
Colonial Electric Company LLC Secured Debt (12) (6) —  —  —  —  —  —  — 
12.00% Secured Debt (6) —  —  181  5,729  79  5,659 
Preferred Member Units (6) —  (240) (318) 2,290  —  240  2,050 
Datacom, LLC 7.50% Secured Debt (8) —  —  —  25  25  —  50 
10.00% Secured Debt (8) —  —  30  865  864 
Preferred Member Units (8) —  —  —  300  —  —  300 
Digital Products Holdings LLC 14.75% L+ 10.00% Secured Debt (5) —  —  144  3,878  82  3,801 
Preferred Member Units (5) —  —  13  2,459  —  —  2,459 
Direct Marketing Solutions, Inc. Secured Debt (12) (9) —  —  —  —  —  — 
14.00% Secured Debt (9) —  (4) 189  5,352  84  5,272 
Preferred Stock (9) —  (130) 43  5,558  —  128  5,430 
Flame King Holdings, LLC 11.25% L+ 6.50% Secured Debt (12) (9) —  (1) 54  1,900  1,900 
13.75% L+ 9.00% Secured Debt (9) —  (8) 188  5,300  5,300 
Preferred Equity (9) —  900  134  4,400  900  —  5,300 
Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (12) (5) —  —  134  5,848  —  536  5,312 
Gamber-Johnson Holdings, LLC SF+ 8.50% Secured Debt (12) (5) —  —  —  —  —  —  — 
11.50% SF+ 8.50% Secured Debt (5) —  (17) 474  16,020  17  217  15,820 
Member Units (5) —  2,117  393  12,720  2,120  —  14,840 
GFG Group, LLC. 9.00% Secured Debt (5) —  (4) 68  2,836  2,836 
Preferred Member Units (5) —  110  10  1,790  110  —  1,900 
Gulf Publishing Holdings, LLC L+ 9.50% Secured Debt (12) (8) —  —  —  —  —  —  — 
12.50% Secured Debt (8) —  —  19  571  —  —  571 
Preferred Equity (8) —  —  —  950  —  —  950 
Member Units (8) —  —  —  —  —  —  — 
HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (8) —  113  —  4,331  113  508  3,936 
Kickhaefer Manufacturing Company, LLC 12.00% Secured Debt (5) —  —  199  5,093  53  —  5,146 
9.00% Secured Debt (5) —  —  22  961  —  958 
Preferred Equity (5) —  —  —  1,800  —  —  1,800 
Member Units (5) —  (18) 713  —  18  695 
Market Force Information, LLC 12.00% 12.00% Secured Debt (9) —  (403) —  403  —  403  — 
Member Units (9) —  —  —  —  —  —  — 
MH Corbin Holding LLC 13.00% Secured Debt (5) —  238  49  1,137  238  29  1,346 
Preferred Member Units (5) —  —  —  —  —  —  — 
Preferred Member Units (5) —  —  —  —  —  —  — 
Mystic Logistics Holdings, LLC Secured Debt (12) (6) —  —  —  —  —  —  — 
10.00% Secured Debt (6) —  —  36  1,436  —  —  1,436 
Common Stock (6) —  545  248  5,708  545  —  6,253 
NexRev LLC Secured Debt (8) —  —  —  —  —  —  — 
11.00% Secured Debt (8) —  249  81  2,119  255  157  2,217 
Preferred Member Units (8) —  470  33  280  470  —  750 
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2022 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2023 Fair Value (13)
NuStep, LLC 11.25% L+ 6.50% Secured Debt (5) —  —  31  1,100  —  —  1,100 
12.00% Secured Debt (5) —  —  139  4,603  —  4,604 
Preferred Member Units (5) —  (100) —  2,010  —  100  1,910 
Preferred Member Units (5) —  —  —  1,290  —  —  1,290 
Oneliance, LLC 15.75% L+ 11.00% Secured Debt (7) —  —  56  1,380  21  1,361 
Preferred Stock (7) —  —  —  264  —  —  264 
Orttech Holdings, LLC L+ 11.00% Secured Debt (12) (5) —  —  —  (2) —  —  (2)
15.75% L+ 11.00% Secured Debt (5) —  —  236  5,814  200  5,623 
Preferred Stock (5) —  430  67  2,940  430  —  3,370 
Robbins Bros. Jewelry, Inc. Secured Debt (12) (9) —  —  (8) —  (7)
12.50% Secured Debt (9) —  —  127  3,902  24  3,882 
Preferred Equity (9) —  (550) —  1,650  —  550  1,100 
SI East, LLC Secured Debt (12) (7) —  —  —  —  —  — 
9.50% Secured Debt (7) —  (55) 755  29,929  55  1,805  28,179 
Preferred Member Units (7) —  —  114  4,550  —  —  4,550 
Sonic Systems International, LLC 12.26% L+ 7.50% Secured Debt (8) —  (19) 583  18,425  19  19  18,425 
Common Stock (8) —  (60) 13  1,490  —  60  1,430 
Student Resource Center, LLC 13.69% L+ 8.50% Secured Debt (6) —  —  118  5,063  —  —  5,063 
Preferred Equity (6) —  —  —  —  —  —  — 
Tedder Industries, LLC 12.00% Secured Debt (9) —  —  14  460  —  —  460 
12.00% Secured Debt (9) —  —  115  3,780  —  3,781 
Preferred Member Units (9) —  (202) —  1,920  —  202  1,718 
Preferred Member Units (9) —  28  —  —  83  —  83 
Trantech Radiator Topco, LLC Secured Debt (12) (7) —  (1) —  — 
12.00% Secured Debt (7) —  (3) 63  1,980  1,980 
Common Stock (7) —  380  1,950  380  —  2,330 
Volusion, LLC 10.00% Secured Debt (8) —  —  —  —  900  —  900 
Secured Debt (8) (1,366) 780  71  6,392  —  6,392  — 
Unsecured Convertible Debt (8) (175) 175  —  —  175  175  — 
Preferred Member Units (8) —  —  —  —  —  —  — 
Preferred Member Units (8) —  —  —  —  4,906  —  4,906 
Preferred Member Units (8) —  —  —  —  —  —  — 
Common Stock (8) —  (1,104) —  —  1,104  1,104  — 
Warrants (8) —  1,104  —  —  —  —  — 
VVS Holdco, LLC L+ 6.00% Secured Debt (12) (5) —  —  (5) (5)
11.50% Secured Debt (5) —  —  230  7,421  11  —  7,432 
Preferred Equity (5) —  20  2,990  20  —  3,010 
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2022 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2023 Fair Value (13)
Other
Amounts related to
investments transferred to
or from other
1940 Act classification
during the period
—  —  (71) (6,392) (175) (6,567) — 
Total Affiliate investments $ 1,637  $ 1,321  $ 7,894  $ 277,000  $ 18,474  $ 24,633  $ 270,841 
_________________________
(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
(2)Represents the total amount of interest, fees and dividends credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred from other 1940 Act classifications during the period.”
(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.
(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for affiliate investments located in this region was $94,403. This represented 15.5% of net assets as of March 31, 2023.
(6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for affiliate investments located in this region was $20,461. This represented 3.4% of net assets as of March 31, 2023.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for affiliate investments located in this region was $38,664. This represented 6.4% of net assets as of March 31, 2023.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $49,318. This represented 8.1% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $79,994. This represented 13.2% of net assets as of March 31, 2023.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $588. This represented 0.1% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $37,319. This represented 6.1% of net assets as of March 31, 2023.
(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.
(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.
(12)Investment has an unfunded commitment as of March 31, 2023 (see Note I). The fair value of the investment includes the impact of the fair value of any unfunded commitments.
(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2021 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2022 Fair Value
Control Investments
GRT Rubber Technologies LLC 8.23% L+ 8.00% Secured Debt (8) $ —  $ (12) $ 401  $ 19,152  $ $ —  $ 19,153 
Member Units (8) —  —  600  22,750  —  —  22,750 
Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) —  189  —  3,971  346  —  4,317 
LP Interests (2717 HPP-MS, L.P.) (8) —  —  —  —  —  —  — 
Copper Trail Energy Fund I, LP - CTMH LP Interests (CTMH, LP) (9) —  —  —  710  —  —  710 
Other Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  —  —  —  —  — 
Total Control investments $ —  $ 177  $ 1,001  $ 46,583  $ 347  $ —  $ 46,930 
Affiliate Investments
AFG Capital Group, LLC 10.00% Secured Debt (8) $ —  $ —  $ $ 36  $ —  $ 22  $ 14 
Preferred Member Units (8) —  160  —  1,930  160  —  2,090 
ASK (Analytical Systems Keco Holdings, LLC) 12.00% L+ 10.00% Secured Debt (8) —  —  42  1,178  17  1,168 
Preferred Member Units (8) —  (140) —  1,220  —  140  1,080 
Warrants (8) —  —  —  —  —  —  — 
ATX Networks Corp. 8.50% L+ 7.50% Secured Debt (6) —  235  —  7,121  235  96  7,260 
10.00% 10.00% Unsecured Debt (6) —  84  74  1,977  159  —  2,136 
Barfly Ventures, LLC Preferred Member Units (5) —  40  —  643  40  —  683 
Batjer TopCo, LLC 11.00% Secured Debt (8) —  —  10  —  1,201  —  1,201 
Member Units (8) —  —  —  —  453  —  453 
Brewer Crane Holdings, LLC 11.00% L+ 10.00% Secured Debt (9) —  —  57  2,005  31  1,976 
Preferred Member Units (9) —  10  66  1,930  10  —  1,940 
Centre Technologies Holdings, LLC 12.00% L+ 10.00% Secured Debt (8) —  —  73  2,216  38  2,181 
Preferred Member Units (8) —  —  1,460  —  —  1,460 
Chamberlin Holding LLC 9.00% L+ 8.00% Secured Debt (8) —  (11) 110  4,454  11  45  4,420 
Member Units (8) —  (27) 78  6,415  —  27  6,388 
Charps, LLC 10.00% Unsecured Debt (5) —  —  —  —  —  —  — 
Preferred Member Units (5) —  20  52  3,500  20  —  3,520 
Clad-Rex Steel, LLC 10.50% L+ 9.50% Secured Debt (5) —  —  69  2,620  —  —  2,620 
10.00% Secured Debt (5) —  —  268  —  266 
Member Units (5) —  20  87  2,693  20  2,712 
Cody Pools, Inc. 12.25% L+ 10.50% Secured Debt (8) —  234  7,181  649  640  7,190 
Preferred Member Units (8) —  —  172  11,910  —  —  11,910 
Colonial Electric Company LLC 12.00% Secured Debt (6) —  —  192  6,007  10  79  5,938 
Preferred Member Units (6) —  —  93  2,280  —  —  2,280 
Datacom, LLC 7.50% Secured Debt (8) —  —  25  852  851 
Preferred Member Units (8) —  10  290  10  —  300 
Digital Products Holdings LLC 11.00% L+ 10.00% Secured Debt (5) —  —  120  4,186  83  4,109 
Preferred Member Units (5) —  —  13  2,459  —  —  2,459 
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2021 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2022 Fair Value
Direct Marketing Solutions, Inc. 12.00% L+ 11.00% Secured Debt (9) —  150  4,698  14  75  4,637 
Preferred Stock (9) —  1,020  86  4,590  1,020  —  5,610 
Flame King Holdings, LLC 12.00% L+ 11.00% Secured Debt (9) —  —  167  5,145  —  5,153 
7.50% L+ 6.50% Secured Debt (9) —  —  35  1,581  301  —  1,882 
Preferred Equity (9) —  —  70  2,600  —  —  2,600 
Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (5) —  —  88  7,231  —  —  7,231 
Gamber-Johnson Holdings, LLC 10.50% L+ 8.50% Secured Debt (5) —  (1) 130  5,400  5,400 
Member Units (5) —  (1,151) 45  12,430  —  1,151  11,279 
GFG Group, LLC. 12.00% Secured Debt (5) —  (5) 99  3,136  3,136 
Preferred Member Units (5) —  —  63  1,750  —  —  1,750 
Gulf Publishing Holdings, LLC 10.50% L+ 9.50% 5.25% Secured Debt (8) —  —  64  —  —  64 
12.50% 6.25% Secured Debt (8) —  (430) 53  2,429  —  429  2,000 
HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (8) 446  (280) —  4,712  —  280  4,432 
Kickhaefer Manufacturing Company, LLC 11.50% Secured Debt (5) —  —  155  5,040  —  5,049 
9.00% Secured Debt (5) —  —  22  970  —  967 
Member Units (5) —  (20) —  3,695  —  20  3,675 
Member Units (5) —  —  —  —  —  — 
Market Force Information, LLC 12.00% L+ 11.00% Secured Debt (9) —  —  2,234  —  2,237 
MH Corbin Holding LLC 13.00% Secured Debt (5) —  (374) 68  1,484  394  1,092 
Preferred Member Units (5) —  —  —  —  —  —  — 
Oneliance, LLC Preferred Stock (7) —  —  —  264  —  —  264 
12.00% L+ 11.00% Secured Debt (7) —  —  44  1,374  —  1,375 
Orttech Holdings, LLC 12.00% L+ 11.00% Secured Debt (5) —  —  189  5,978  —  5,984 
Preferred Stock (5) —  —  48  2,500  —  —  2,500 
Mystic Logistics Holdings, LLC 10.00% Secured Debt (6) —  —  39  1,595  —  71  1,524 
Common Stock (6) —  555  142  2,210  554  —  2,764 
NexRev LLC 11.00% Secured Debt (8) —  —  215  3,510  54  3,462 
Preferred Member Units (8) —  —  670  —  —  670 
NuStep, LLC 7.50% L+ 6.50% Secured Debt (5) —  11  430  300  —  730 
12.00% Secured Debt (5) —  —  126  4,310  —  —  4,310 
Preferred Member Units (5) —  —  —  3,380  —  3,379 
Robbins Bros. Jewelry, Inc. 12.00% L+ 11.00% Secured Debt (9) —  —  126  —  3,955  —  3,955 
Preferred Equity (9) —  —  16  —  1,230  —  1,230 
SI East, LLC (Stavig) 10.25% Secured Debt (7) —  106  569  21,950  —  102  21,848 
Preferred Member Units (7) —  320  30  3,860  320  —  4,180 
Sonic Systems International, LLC 8.50% L+ 7.50% Secured Debt (8) —  —  312  13,738  14  —  13,752 
Common Stock (8) —  (70) 13  1,250  —  70  1,180 
Tedder Industries, LLC 12.00% Secured Debt (9) —  —  142  4,013  157  —  4,170 
Preferred Member Units (9) —  —  —  2,145  —  —  2,145 
Trantech Radiator Topco, LLC Secured Debt (7) —  —  71  2,174  11  105  2,080 
12.00% Common Stock (7) —  —  2,160  —  —  2,160 
VVS Holdco, LLC 11.50% Secured Debt (5) —  —  230  7,375  11  —  7,386 
Company Total Rate Base Rate Spread PIK Rate Type of Investment(1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income(2)
December 31,
2021 Fair Value
Gross
Additions(3)
Gross
Reductions(4)
March 31,
2022 Fair Value
7.00% L+ 6.00% Secured Debt (5) —  —  292  —  99  193 
Preferred Equity (5) —  —  38  2,960  —  —  2,960 
Other Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  —  —  —  —  — 
Total Affiliate investments $ 446  $ 77  $ 5,206  $ 234,158  $ 10,930  $ 4,088  $ 241,000 
___________________________________________________
(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
(2)Represents the total amount of interest, fees and dividends credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred from other 1940 Act classifications during the period.”
(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.
(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2022 for affiliate investments located in this region was $83,390. This represented 13.5% of net assets as of March 31, 2022.
(6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2022 for affiliate investments located in this region was $21,902. This represented 3.6% of net assets as of March 31, 2022.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2022 for affiliate investments located in this region was $31,907. This represented 5.2% of net assets as of March 31, 2022.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2022 for control investments located in this region was $46,220. This represented 7.5% of net assets as of March 31, 2022. The fair value as of March 31, 2022 for affiliate investments located in this region was $66,266. This represented 10.7% of net assets as of March 31, 2022.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2022 for control investments located in this region was $710. This represented 0.1% of net assets as of March 31, 2022. The fair value as of March 31, 2022 for affiliate investments located in this region was $37,535. This represented 6.1% of net assets as of March 31, 2022.
(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.
(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.