Quarterly report pursuant to Section 13 or 15(d)

Consolidated Schedule of Investments In and Advances to Affiliates (Tables)

v3.24.1.1.u2
Consolidated Schedule of Investments In and Advances to Affiliates (Tables)
3 Months Ended
Mar. 31, 2024
Investments in and Advances to Affiliates [Abstract]  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments
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,
2023 Fair Value
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Control Investments
Copper Trail Fund Investments LP Interests (CTMH, LP) (9) $ —  $ —  $ —  $ 568  $ —  $ —  $ 568 
GRT Rubber Technologies LLC 11.48% SF+ 6.00% Secured Debt (12) (8) —  (1) 35  1,182  1,182 
13.48% SF+ 8.00% Secured Debt (8) —  (12) 692  19,944  12  12  19,944 
Member Units (8) —  —  21  21,890  —  —  21,890 
Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) 10  —  40  6,050  10  10  6,050 
Volusion, LLC 10.00% Secured Debt (8) —  —  23  900  —  —  900 
Preferred Member Units (8) —  —  —  —  —  —  — 
Preferred Member Units (8) —  435  —  3,110  435  435  3,110 
Preferred Member Units (8) —  —  —  —  —  —  — 
Common Stock (8) —  —  —  —  —  —  — 
Other
Amounts related to
investments transferred to
or from other
1940 Act classification
during the period
—  —  —  —  —  —  — 
Total Control Investments $ 10  $ 422  $ 811  $ 53,644  $ 458  $ 458  $ 53,644 
Affiliate Investments
Analytical Systems Keco Holdings, LLC 15.38% SF+ 10.00% Secured Debt (12) (8) —  —  54  —  —  54 
15.38% SF+ 10.00% Secured Debt (8) —  —  44  1,020  18  1,007 
14.13% Preferred Member Units (8) —  —  —  —  —  —  — 
Preferred Member Units (8) —  180  —  1,210  180  —  1,390 
Warrants (8) —  —  —  —  —  —  — 
Barfly Ventures, LLC Member Units (5) —  160  —  1,380  160  —  1,540 
Batjer TopCo, LLC 10.00% Secured Debt (12) (8) —  —  —  50  —  50 
10.00% Secured Debt (12) (8) —  —  30  —  —  30 
10.00% Secured Debt (8) —  (1) 31  1,175  1,175 
Preferred Stock (8) —  —  39  680  —  —  680 
Brewer Crane Holdings, LLC 15.48% SF+ 10.00% Secured Debt (9) —  —  52  1,374  —  31  1,343 
Preferred Member Units (9) —  30  1,400  30  —  1,430 
Centre Technologies Holdings, LLC 14.48% SF+ 9.00% Secured Debt (12) (8) —  —  —  —  —  — 
14.48% SF+ 9.00% Secured Debt (8) —  66  128  —  5,494  —  5,494 
14.48% SF+ 9.00% Secured Debt (8) —  (29) 84  4,394  —  4,394  — 
Preferred Member Units (8) —  280  2,760  280  —  3,040 
Chamberlin Holding LLC 11.49% SF+ 6.00% Secured Debt (12) (8) —  (6) —  — 
13.49% SF+ 8.00% Secured Debt (8) —  —  133  3,905  —  —  3,905 
Member Units (8) —  60  366  7,330  60  —  7,390 
Member Units (8) —  35  715  35  —  750 
Charps, LLC Preferred Member Units (5) —  90  —  3,920  90  —  4,010 
Clad-Rex Steel, LLC 12.00% Secured Debt (12) (5) —  —  —  —  —  —  — 
12.00% Secured Debt (5) —  —  64  2,103  —  2,100 
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,
2023 Fair Value
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
10.00% Secured Debt (5) —  —  251  —  249 
Member Units (5) —  (290) —  1,300  —  290  1,010 
Member Units (5) —  (45) —  282  —  45  237 
Cody Pools, Inc. 12.50% Secured Debt (12) (8) —  —  236  236  — 
12.50% Secured Debt (8) —  (2) 223  7,111  117  6,996 
Preferred Member Units (8) —  430  153  18,120  430  —  18,550 
Colonial Electric Company LLC 12.00% Secured Debt (6) —  —  —  —  —  — 
12.00% Secured Debt (6) —  41  173  5,407  53  498  4,962 
Preferred Member Units (6) —  —  —  600  —  —  600 
Preferred Member Units (6) —  160  24  1,920  160  —  2,080 
Compass Systems & Sales, LLC 13.50% Secured Debt (5) —  —  —  —  —  —  — 
13.50% Secured Debt (5) —  —  153  4,175  —  4,182 
Preferred Equity (5) —  —  15  1,863  —  —  1,863 
Datacom, LLC 7.50% Secured Debt (8) —  —  49  25  20  54 
10.00% Secured Debt (8) —  —  29  844  842 
Preferred Member Units (8) —  10  —  10  10  —  20 
Digital Products Holdings LLC 15.38% SF+ 10.00% Secured Debt (5) —  —  146  3,673  364  3,315 
Preferred Member Units (5) —  —  13  2,459  —  —  2,459 
Direct Marketing Solutions, Inc. 14.00% Secured Debt (9) —  —  217  225  442  — 
14.00% Secured Debt (9) —  (4) 179  5,002  88  4,918 
Preferred Stock (9) —  (120) —  5,180  —  120  5,060 
Flame King Holdings, LLC Preferred Equity (9) —  —  170  6,970  —  —  6,970 
Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (12) (5) —  —  138  3,705  —  —  3,705 
Gamber-Johnson Holdings, LLC 10.00% SF+ 7.00% Secured Debt (12) (5) —  —  —  —  —  —  — 
10.00% SF+ 7.00% Secured Debt (5) —  (17) 353  13,520  17  417  13,120 
Member Units (5) —  2,460  372  24,180  2,460  —  26,640 
GFG Group, LLC 8.00% Secured Debt (5) —  (4) 51  2,336  2,336 
Preferred Member Units (5) —  (410) 164  2,870  —  410  2,460 
Gulf Publishing Holdings, LLC 14.98% SF+ 9.50% Secured Debt (12) (8) —  —  —  —  —  —  — 
12.50% Secured Debt (8) —  —  19  571  —  —  571 
Preferred Equity (8) —  (240) —  620  —  240  380 
Member Units (8) —  —  —  —  —  —  — 
HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (12) (8) —  —  —  4,225  —  —  4,225 
IG Investor, LLC 13.00% Secured Debt (12) (6) —  —  (27) —  (25)
13.00% Secured Debt (6) —  —  319  9,069  17  111  8,975 
Common Equity (6) —  —  —  3,600  —  —  3,600 
Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  80  —  6,320  80  —  6,400 
Integral Energy Services 13.09% SF+ 7.50% Secured Debt (8) —  277  595  16,232  312  1,585  14,959 
10.00% 10.00% Preferred Equity (8) —  —  10  350  10  —  360 
Common Stock (8) —  170  13  190  170  —  360 
Kickhaefer Manufacturing Company, LLC 12.00% Secured Debt (5) —  —  152  4,933  —  4,934 
9.00% Secured Debt (5) —  —  22  951  —  949 
Preferred Equity (5) —  220  —  2,420  220  —  2,640 
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,
2023 Fair Value
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Member Units (5) —  —  683  —  —  683 
MH Corbin Holding LLC 14.00% Secured Debt (5) —  —  46  1,256  —  20  1,236 
Preferred Member Units (5) —  —  —  80  —  —  80 
Preferred Member Units (5) —  —  —  —  —  —  — 
Mystic Logistics Holdings, LLC 10.00% Secured Debt (12) (6) —  —  —  —  —  —  — 
10.00% Secured Debt (6) —  36  1,436  —  —  1,436 
Common Stock (6) —  —  248  6,598  —  —  6,598 
NexRev LLC 10.00% Secured Debt (12) (8) —  —  —  —  400  —  400 
10.00% Secured Debt (8) —  —  66  2,435  —  2,439 
Preferred Member Units (8) —  460  26  1,590  460  —  2,050 
NuStep, LLC 11.98% SF+ 6.50% Secured Debt (5) —  —  28  899  —  —  899 
12.00% Secured Debt (5) —  —  141  4,606  —  4,607 
Preferred Member Units (5) —  240  —  2,310  240  —  2,550 
Preferred Member Units (5) —  —  —  1,290  —  —  1,290 
Oneliance, LLC 16.48% SF+ 11.00% Secured Debt (7) —  58  1,339  21  1,327 
Preferred Stock (7) —  —  —  282  —  —  282 
Orttech Holdings, LLC 16.48% SF+ 11.00% Secured Debt (12) (5) —  —  —  —  —  —  — 
16.48% SF+ 11.00% Secured Debt (5) —  (6) 235  5,510  26  5,490 
Preferred Stock (5) —  (170) 15  4,260  —  170  4,090 
Pinnacle TopCo, LLC 8.00% Secured Debt (12) (8) —  —  105  —  59  46 
13.00% Secured Debt (8) —  —  261  7,472  —  7,481 
Preferred Equity (8) —  —  79  3,135  —  —  3,135 
Robbins Bros. Jewelry, Inc. 12.50% Secured Debt (9) —  —  (6) —  (5)
12.50% Secured Debt (9) —  (669) 123  3,421  717  2,708 
Preferred Equity (9) —  —  —  —  —  —  — 
SI East, LLC 11.25% Secured Debt (12) (7) —  —  13  375  —  —  375 
12.45% Secured Debt (7) —  (9) 584  18,179  18,179 
Preferred Member Units (7) —  —  39  6,390  —  —  6,390 
Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  (1,618) —  3,543  —  1,618  1,925 
Preferred Equity (6) —  —  —  —  —  —  — 
Tedder Industries, LLC 12.00% Secured Debt (9) —  —  14  432  —  —  432 
12.00% Secured Debt (9) —  (1,580) 115  3,565  —  1,580  1,985 
Preferred Member Units (9) —  —  —  —  —  —  — 
Preferred Member Units (9) —  —  —  —  —  —  — 
Preferred Member Units (9) —  —  —  —  —  —  — 
Trantech Radiator Topco, LLC 11.50% Secured Debt (12) (7) —  —  —  —  —  —  — 
13.50% Secured Debt (7) —  18  64  1,980  —  —  1,980 
Common Stock (7) —  (280) 3,180  —  280  2,900 
VVS Holdco LLC 11.48% SF+ 6.00% Secured Debt (12) (5) —  —  —  —  —  — 
11.50% Secured Debt (5) —  —  216  6,926  11  —  6,937 
Preferred Equity (5) —  —  25  3,060  —  —  3,060 
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,
2023 Fair Value
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Other
Amounts related to
investments transferred to
or from other
1940 Act classification
during the period
—  —  —  —  —  —  — 
Total Affiliate investments $ —  $ (19) $ 6,929  $ 291,279  $ 12,001  $ 13,951  $ 289,329 
_________________________
(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, 2024 for affiliate investments located in this region was $108,671. This represented 17.6% of net assets as of March 31, 2024.
(6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for affiliate investments located in this region was $36,551. This represented 5.9% of net assets as of March 31, 2024.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for affiliate investments located in this region was $31,433. This represented 5.1% of net assets as of March 31, 2024.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $53,076. This represented 8.6% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $87,833. This represented 14.2% of net assets as of March 31, 2024.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $568. This represented 0.1% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $24,841. This represented 4.0% of net assets as of March 31, 2024.
(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, 2024 (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,
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 
Cody Pools, Inc. 15.50% L+ 10.50% Secured Debt (12) (8) —  11  273  80  196 
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)
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 
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 
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(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.