| Consolidated Schedule of Investments In and Advances to Affiliates |
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| 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) |
|
June 30,
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) |
|
— |
|
|
5 |
|
|
76 |
|
|
1,182 |
|
|
368 |
|
|
— |
|
|
1,550 |
|
|
13.48% |
SF+ |
8.00% |
|
Secured Debt |
|
(8) |
|
— |
|
|
(25) |
|
|
1,383 |
|
|
19,944 |
|
|
25 |
|
|
25 |
|
|
19,944 |
|
|
|
|
|
|
Member Units |
|
(8) |
|
— |
|
|
— |
|
|
41 |
|
|
21,890 |
|
|
— |
|
|
1 |
|
|
21,889 |
|
| Harris Preston Fund Investments |
|
|
|
|
LP Interests (2717 MH, L.P.) |
|
(8) |
|
57 |
|
|
2,941 |
|
|
278 |
|
|
6,050 |
|
|
2,998 |
|
|
57 |
|
|
8,991 |
|
| Volusion, LLC |
10.00% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
— |
|
|
46 |
|
|
900 |
|
|
— |
|
|
— |
|
|
900 |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
798 |
|
|
— |
|
|
3,110 |
|
|
799 |
|
|
909 |
|
|
3,000 |
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
$ |
57 |
|
|
$ |
3,719 |
|
|
$ |
1,824 |
|
|
$ |
53,644 |
|
|
$ |
4,190 |
|
|
$ |
992 |
|
|
$ |
56,842 |
|
| Affiliate Investments |
|
|
|
|
|
|
|
|
|
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|
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|
|
| Analytical Systems Keco Holdings, LLC |
15.38% |
SF+ |
10.00% |
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
— |
|
|
3 |
|
|
54 |
|
|
1 |
|
|
— |
|
|
55 |
|
|
15.38% |
SF+ |
10.00% |
|
Secured Debt |
|
(8) |
|
— |
|
|
— |
|
|
87 |
|
|
1,020 |
|
|
10 |
|
|
49 |
|
|
981 |
|
|
14.13% |
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
190 |
|
|
— |
|
|
1,210 |
|
|
190 |
|
|
— |
|
|
1,400 |
|
|
|
|
|
|
Warrants |
|
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Barfly Ventures, LLC |
|
|
|
|
Member Units |
|
(5) |
|
— |
|
|
193 |
|
|
— |
|
|
1,380 |
|
|
193 |
|
|
— |
|
|
1,573 |
|
| Batjer TopCo, LLC |
10.00% |
|
|
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
(1) |
|
|
2 |
|
|
— |
|
|
50 |
|
|
1 |
|
|
49 |
|
|
10.00% |
|
|
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
— |
|
|
2 |
|
|
30 |
|
|
— |
|
|
— |
|
|
30 |
|
|
10.00% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
(15) |
|
|
62 |
|
|
1,175 |
|
|
2 |
|
|
15 |
|
|
1,162 |
|
|
|
|
|
|
Preferred Stock |
|
(8) |
|
— |
|
|
(50) |
|
|
45 |
|
|
680 |
|
|
— |
|
|
50 |
|
|
630 |
|
| Brewer Crane Holdings, LLC |
15.48% |
SF+ |
10.00% |
|
Secured Debt |
|
(9) |
|
— |
|
|
— |
|
|
107 |
|
|
1,374 |
|
|
4 |
|
|
62 |
|
|
1,316 |
|
|
|
|
|
|
Preferred Member Units |
|
(9) |
|
— |
|
|
(70) |
|
|
15 |
|
|
1,400 |
|
|
— |
|
|
70 |
|
|
1,330 |
|
| Centre Technologies Holdings, LLC |
|
SF+ |
10.00% |
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
15.48% |
SF+ |
10.00% |
|
Secured Debt |
|
(8) |
|
— |
|
|
58 |
|
|
344 |
|
|
— |
|
|
5,494 |
|
|
378 |
|
|
5,116 |
|
|
|
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
(29) |
|
|
84 |
|
|
4,394 |
|
|
— |
|
|
4,394 |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
120 |
|
|
15 |
|
|
2,760 |
|
|
120 |
|
|
— |
|
|
2,880 |
|
| Chamberlin Holding LLC |
|
SF+ |
6.00% |
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
(11) |
|
|
12 |
|
|
— |
|
|
11 |
|
|
11 |
|
|
— |
|
|
13.49% |
SF+ |
8.00% |
|
Secured Debt |
|
(8) |
|
— |
|
|
— |
|
|
267 |
|
|
3,905 |
|
|
— |
|
|
— |
|
|
3,905 |
|
|
|
|
|
|
Member Units |
|
(8) |
|
— |
|
|
180 |
|
|
849 |
|
|
7,330 |
|
|
180 |
|
|
— |
|
|
7,510 |
|
|
|
|
|
|
Member Units |
|
(8) |
|
— |
|
|
72 |
|
|
12 |
|
|
715 |
|
|
74 |
|
|
1 |
|
|
788 |
|
| Charps, LLC |
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
(20) |
|
|
39 |
|
|
3,920 |
|
|
— |
|
|
20 |
|
|
3,900 |
|
| Clad-Rex Steel, LLC |
|
|
|
|
Secured Debt (12) |
|
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
11.50% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
127 |
|
|
2,103 |
|
|
— |
|
|
155 |
|
|
1,948 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
| 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) |
|
June 30,
2024 Fair Value (13) |
|
10.00% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
13 |
|
|
251 |
|
|
— |
|
|
5 |
|
|
246 |
|
|
|
|
|
|
Member Units |
|
(5) |
|
— |
|
|
250 |
|
|
105 |
|
|
1,300 |
|
|
250 |
|
|
— |
|
|
1,550 |
|
|
|
|
|
|
Member Units |
|
(5) |
|
— |
|
|
(45) |
|
|
— |
|
|
282 |
|
|
— |
|
|
45 |
|
|
237 |
|
| Cody Pools, Inc. |
|
|
|
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
2 |
|
|
5 |
|
|
— |
|
|
236 |
|
|
236 |
|
|
— |
|
|
12.50% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
(4) |
|
|
443 |
|
|
7,111 |
|
|
4 |
|
|
234 |
|
|
6,881 |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
500 |
|
|
377 |
|
|
18,120 |
|
|
501 |
|
|
— |
|
|
18,621 |
|
| Colonial Electric Company LLC |
|
|
|
|
Secured Debt (12) |
|
(6) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
12.00% |
|
|
|
Secured Debt |
|
(6) |
|
— |
|
|
82 |
|
|
326 |
|
|
5,407 |
|
|
106 |
|
|
978 |
|
|
4,535 |
|
|
|
|
|
|
Preferred Member Units |
|
(6) |
|
— |
|
|
(360) |
|
|
360 |
|
|
600 |
|
|
— |
|
|
600 |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
|
(6) |
|
— |
|
|
1,020 |
|
|
139 |
|
|
1,920 |
|
|
1,020 |
|
|
— |
|
|
2,940 |
|
| Compass Systems & Sales, LLC |
13.50% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
3 |
|
|
— |
|
|
388 |
|
|
— |
|
|
388 |
|
|
13.50% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
306 |
|
|
4,175 |
|
|
13 |
|
|
— |
|
|
4,188 |
|
|
|
|
|
|
Preferred Equity |
|
(5) |
|
— |
|
|
117 |
|
|
30 |
|
|
1,863 |
|
|
117 |
|
|
— |
|
|
1,980 |
|
| Datacom, LLC |
7.50% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
— |
|
|
2 |
|
|
49 |
|
|
25 |
|
|
45 |
|
|
29 |
|
|
10.00% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
— |
|
|
57 |
|
|
844 |
|
|
11 |
|
|
15 |
|
|
840 |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
10 |
|
|
— |
|
|
10 |
|
|
10 |
|
|
— |
|
|
20 |
|
| Digital Products Holdings LLC |
15.38% |
SF+ |
10.00% |
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
279 |
|
|
3,673 |
|
|
8 |
|
|
363 |
|
|
3,318 |
|
|
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
— |
|
|
25 |
|
|
2,459 |
|
|
1 |
|
|
— |
|
|
2,460 |
|
| Direct Marketing Solutions, Inc. |
|
|
|
|
Secured Debt |
|
(9) |
|
— |
|
|
(1) |
|
|
7 |
|
|
217 |
|
|
226 |
|
|
443 |
|
|
— |
|
|
14.00% |
|
|
|
Secured Debt |
|
(9) |
|
— |
|
|
(7) |
|
|
354 |
|
|
5,002 |
|
|
7 |
|
|
174 |
|
|
4,835 |
|
|
|
|
|
|
Preferred Stock |
|
(9) |
|
— |
|
|
(280) |
|
|
— |
|
|
5,180 |
|
|
— |
|
|
280 |
|
|
4,900 |
|
| Flame King Holdings, LLC |
|
|
|
|
Preferred Equity |
|
(9) |
|
— |
|
|
1,970 |
|
|
393 |
|
|
6,970 |
|
|
1,970 |
|
|
— |
|
|
8,940 |
|
| Freeport Financial Funds |
|
|
|
|
LP Interests (Freeport First Lien Loan Fund III LP) (12) |
|
(5) |
|
— |
|
|
— |
|
|
255 |
|
|
3,705 |
|
|
— |
|
|
1,109 |
|
|
2,596 |
|
| Gamber-Johnson Holdings, LLC |
|
SF+ |
7.50% |
|
Secured Debt (12) |
|
(5) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10.50% |
SF+ |
7.50% |
|
Secured Debt |
|
(5) |
|
— |
|
|
(37) |
|
|
713 |
|
|
13,520 |
|
|
37 |
|
|
1,237 |
|
|
12,320 |
|
|
|
|
|
|
Member Units |
|
(5) |
|
— |
|
|
2,460 |
|
|
751 |
|
|
24,180 |
|
|
2,460 |
|
|
— |
|
|
26,640 |
|
| GFG Group, LLC |
8.00% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
(7) |
|
|
102 |
|
|
2,336 |
|
|
7 |
|
|
7 |
|
|
2,336 |
|
|
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
(410) |
|
|
195 |
|
|
2,870 |
|
|
— |
|
|
410 |
|
|
2,460 |
|
| Gulf Publishing Holdings, LLC |
|
SF+ |
9.50% |
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
12.50% |
|
|
12.50% |
Secured Debt |
|
(8) |
|
— |
|
|
(84) |
|
|
19 |
|
|
571 |
|
|
— |
|
|
84 |
|
|
487 |
|
|
|
|
|
|
Preferred Equity |
|
(8) |
|
— |
|
|
(620) |
|
|
— |
|
|
620 |
|
|
— |
|
|
620 |
|
|
— |
|
|
|
|
|
|
Member Units |
|
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| HPEP 3, L.P. |
|
|
|
|
LP Interests (HPEP 3, L.P.) (12) |
|
(8) |
|
— |
|
|
97 |
|
|
— |
|
|
4,225 |
|
|
97 |
|
|
— |
|
|
4,322 |
|
| IG Investor, LLC |
|
|
|
|
Secured Debt (12) |
|
(6) |
|
— |
|
|
— |
|
|
5 |
|
|
(27) |
|
|
3 |
|
|
— |
|
|
(24) |
|
|
13.00% |
|
|
|
Secured Debt |
|
(6) |
|
— |
|
|
— |
|
|
634 |
|
|
9,069 |
|
|
33 |
|
|
221 |
|
|
8,881 |
|
|
|
|
|
|
Common Equity |
|
(6) |
|
— |
|
|
— |
|
|
— |
|
|
3,600 |
|
|
— |
|
|
— |
|
|
3,600 |
|
| Independent Pet Partners Intermediate Holdings, LLC |
|
|
|
|
Common Equity |
|
(6) |
|
— |
|
|
150 |
|
|
— |
|
|
6,320 |
|
|
150 |
|
|
— |
|
|
6,470 |
|
| Integral Energy Services |
13.06% |
SF+ |
7.50% |
|
Secured Debt |
|
(8) |
|
— |
|
|
388 |
|
|
1,113 |
|
|
16,232 |
|
|
442 |
|
|
1,835 |
|
|
14,839 |
|
|
10.00% |
|
|
10.00% |
Preferred Equity |
|
(8) |
|
— |
|
|
153 |
|
|
17 |
|
|
350 |
|
|
170 |
|
|
— |
|
|
520 |
|
|
|
|
|
|
Common Stock |
|
(8) |
|
— |
|
|
450 |
|
|
25 |
|
|
190 |
|
|
450 |
|
|
— |
|
|
640 |
|
| Kickhaefer Manufacturing Company, LLC |
12.00% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
294 |
|
|
4,933 |
|
|
5 |
|
|
601 |
|
|
4,337 |
|
|
9.00% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
44 |
|
|
951 |
|
|
41 |
|
|
5 |
|
|
987 |
|
|
|
|
|
|
Preferred Equity |
|
(5) |
|
— |
|
|
560 |
|
|
— |
|
|
2,420 |
|
|
560 |
|
|
— |
|
|
2,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
June 30,
2024 Fair Value (13) |
|
|
|
|
|
Member Units |
|
(5) |
|
— |
|
|
(60) |
|
|
16 |
|
|
683 |
|
|
— |
|
|
60 |
|
|
623 |
|
| MH Corbin Holding LLC |
14.00% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
92 |
|
|
1,256 |
|
|
— |
|
|
40 |
|
|
1,216 |
|
|
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
— |
|
|
— |
|
|
80 |
|
|
— |
|
|
— |
|
|
80 |
|
|
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Mystic Logistics Holdings, LLC |
|
|
|
|
Secured Debt (12) |
|
(6) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10.00% |
|
|
|
Secured Debt |
|
(6) |
|
— |
|
|
5 |
|
|
73 |
|
|
1,436 |
|
|
— |
|
|
— |
|
|
1,436 |
|
|
|
|
|
|
Common Stock |
|
(6) |
|
— |
|
|
(68) |
|
|
481 |
|
|
6,598 |
|
|
— |
|
|
68 |
|
|
6,530 |
|
| Nello Industries Investco, LLC |
11.88% |
SF+ |
6.50% |
|
Secured Debt (12) |
|
(5) |
|
— |
|
|
— |
|
|
22 |
|
|
— |
|
|
2,729 |
|
|
— |
|
|
2,729 |
|
|
13.50% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
66 |
|
|
— |
|
|
6,017 |
|
|
— |
|
|
6,017 |
|
|
|
|
|
|
Common Equity |
|
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,030 |
|
|
— |
|
|
3,030 |
|
| NexRev LLC |
10.00% |
|
|
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
— |
|
|
11 |
|
|
— |
|
|
400 |
|
|
— |
|
|
400 |
|
|
10.00% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
10 |
|
|
132 |
|
|
2,435 |
|
|
18 |
|
|
— |
|
|
2,453 |
|
|
|
|
|
|
Preferred Member Units |
|
(8) |
|
— |
|
|
457 |
|
|
118 |
|
|
1,590 |
|
|
460 |
|
|
— |
|
|
2,050 |
|
| NuStep, LLC |
11.98% |
SF+ |
6.50% |
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
55 |
|
|
899 |
|
|
— |
|
|
— |
|
|
899 |
|
|
12.00% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
281 |
|
|
4,606 |
|
|
2 |
|
|
— |
|
|
4,608 |
|
|
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
240 |
|
|
— |
|
|
2,310 |
|
|
240 |
|
|
— |
|
|
2,550 |
|
|
|
|
|
|
Preferred Member Units |
|
(5) |
|
— |
|
|
— |
|
|
— |
|
|
1,290 |
|
|
— |
|
|
— |
|
|
1,290 |
|
| Oneliance, LLC |
15.48% |
SF+ |
10.00% |
|
Secured Debt |
|
(7) |
|
— |
|
|
18 |
|
|
111 |
|
|
1,339 |
|
|
21 |
|
|
60 |
|
|
1,300 |
|
|
|
|
|
|
Preferred Stock |
|
(7) |
|
— |
|
|
128 |
|
|
— |
|
|
282 |
|
|
128 |
|
|
— |
|
|
410 |
|
| Orttech Holdings, LLC |
|
SF+ |
11.00% |
|
Secured Debt (12) |
|
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
16.48% |
SF+ |
11.00% |
|
Secured Debt |
|
(5) |
|
— |
|
|
(11) |
|
|
469 |
|
|
5,510 |
|
|
11 |
|
|
31 |
|
|
5,490 |
|
|
|
|
|
|
Preferred Stock |
|
(5) |
|
— |
|
|
(490) |
|
|
66 |
|
|
4,260 |
|
|
— |
|
|
490 |
|
|
3,770 |
|
| Pinnacle TopCo, LLC |
|
|
|
|
Secured Debt (12) |
|
(8) |
|
— |
|
|
— |
|
|
3 |
|
|
105 |
|
|
1 |
|
|
115 |
|
|
(9) |
|
|
13.00% |
|
|
|
Secured Debt |
|
(8) |
|
— |
|
|
— |
|
|
522 |
|
|
7,472 |
|
|
18 |
|
|
— |
|
|
7,490 |
|
|
|
|
|
|
Preferred Equity |
|
(8) |
|
— |
|
|
705 |
|
|
213 |
|
|
3,135 |
|
|
705 |
|
|
— |
|
|
3,840 |
|
| Robbins Bros. Jewelry, Inc. |
|
|
|
10.00% |
Secured Debt |
|
(9) |
|
— |
|
|
— |
|
|
1 |
|
|
(6) |
|
|
1 |
|
|
— |
|
|
(5) |
|
|
12.50% |
|
|
10.00% |
Secured Debt |
|
(9) |
|
— |
|
|
(1,444) |
|
|
123 |
|
|
3,421 |
|
|
5 |
|
|
1,494 |
|
|
1,932 |
|
|
|
|
|
|
Preferred Equity |
|
(9) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| SI East, LLC |
11.75% |
|
|
|
Secured Debt (12) |
|
(7) |
|
— |
|
|
1 |
|
|
39 |
|
|
375 |
|
|
750 |
|
|
375 |
|
|
750 |
|
|
|
|
|
|
Secured Debt |
|
(7) |
|
— |
|
|
(161) |
|
|
947 |
|
|
18,179 |
|
|
— |
|
|
18,179 |
|
|
— |
|
|
12.62% |
|
|
|
Secured Debt |
|
(7) |
|
— |
|
|
24 |
|
|
483 |
|
|
— |
|
|
22,554 |
|
|
— |
|
|
22,554 |
|
|
|
|
|
|
Preferred Member Units |
|
(7) |
|
— |
|
|
(500) |
|
|
619 |
|
|
6,390 |
|
|
— |
|
|
500 |
|
|
5,890 |
|
| Student Resource Center, LLC |
8.50% |
|
|
8.50% |
Secured Debt |
|
(6) |
|
— |
|
|
(1,717) |
|
|
— |
|
|
3,543 |
|
|
— |
|
|
1,717 |
|
|
1,826 |
|
|
|
|
|
|
Preferred Equity |
|
(6) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Tedder Industries, LLC |
12.00% |
|
|
12.00% |
Secured Debt |
|
(9) |
|
— |
|
|
— |
|
|
14 |
|
|
432 |
|
|
— |
|
|
— |
|
|
432 |
|
|
12.00% |
|
|
12.00% |
Secured Debt |
|
(9) |
|
— |
|
|
(2,401) |
|
|
115 |
|
|
3,565 |
|
|
— |
|
|
2,401 |
|
|
1,164 |
|
|
|
|
|
|
Preferred Member Units |
|
(9) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
|
(9) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
|
(9) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Trantech Radiator Topco, LLC |
|
|
|
|
Secured Debt (12) |
|
(7) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
13.50% |
|
|
|
Secured Debt |
|
(7) |
|
— |
|
|
17 |
|
|
133 |
|
|
1,980 |
|
|
— |
|
|
— |
|
|
1,980 |
|
|
|
|
|
|
Common Stock |
|
(7) |
|
— |
|
|
(740) |
|
|
15 |
|
|
3,180 |
|
|
— |
|
|
740 |
|
|
2,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
June 30,
2024 Fair Value (13) |
| VVS Holdco LLC |
|
SF+ |
6.00% |
|
Secured Debt (12) |
|
(5) |
|
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
11.50% |
|
|
|
Secured Debt |
|
(5) |
|
— |
|
|
— |
|
|
429 |
|
|
6,926 |
|
|
26 |
|
|
290 |
|
|
6,662 |
|
|
|
|
|
|
Preferred Equity |
|
(5) |
|
— |
|
|
— |
|
|
51 |
|
|
3,060 |
|
|
— |
|
|
— |
|
|
3,060 |
|
Other
Amounts related to
investments transferred to
or from other
1940 Act classification
during the period |
|
|
|
|
|
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Total Affiliate investments |
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
984 |
|
|
$ |
15,171 |
|
|
$ |
291,279 |
|
|
$ |
52,793 |
|
|
$ |
41,313 |
|
|
$ |
302,759 |
|
_________________________
(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 June 30, 2024 for affiliate investments located in this region was $118,468. This represented 19.0% of net assets as of June 30, 2024.
(6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of June 30, 2024 for affiliate investments located in this region was $36,194. This represented 5.8% of net assets as of June 30, 2024.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of June 30, 2024 for affiliate investments located in this region was $35,324. This represented 5.7% of net assets as of June 30, 2024.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of June 30, 2024 for control investments located in this region was $56,274. This represented 9.0% of net assets as of June 30, 2024. The fair value as of June 30, 2024 for affiliate investments located in this region was $87,929. This represented 14.1% of net assets as of June 30, 2024.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of June 30, 2024 for control investments located in this region was $568. This represented 0.1% of net assets as of June 30, 2024. The fair value as of June 30, 2024 for affiliate investments located in this region was $24,844. This represented 4.0% of net assets as of June 30, 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 June 30, 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) |
|
June 30,
2023 Fair Value (13) |
| Control Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GRT Rubber Technologies LLC |
11.17% |
L+ |
6.00% |
|
Secured Debt (12) |
(8) |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
31 |
|
|
$ |
330 |
|
|
$ |
310 |
|
|
$ |
— |
|
|
$ |
640 |
|
|
13.17% |
L+ |
8.00% |
|
Secured Debt |
(8) |
|
— |
|
|
(24) |
|
|
1,304 |
|
|
19,943 |
|
|
26 |
|
|
25 |
|
|
19,944 |
|
|
|
|
|
|
Member Units |
(8) |
|
— |
|
|
— |
|
|
41 |
|
|
21,890 |
|
|
— |
|
|
— |
|
|
21,890 |
|
| Harris Preston Fund Investments |
|
|
|
|
LP Interests (2717 MH, L.P.) |
(8) |
|
1,677 |
|
|
(675) |
|
|
141 |
|
|
7,552 |
|
|
2,077 |
|
|
3,283 |
|
|
6,346 |
|
| 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 |
|
|
|
|
|
|
|
$ |
1,677 |
|
|
$ |
(698) |
|
|
$ |
1,517 |
|
|
$ |
50,303 |
|
|
$ |
2,413 |
|
|
$ |
3,308 |
|
|
$ |
49,408 |
|
| Affiliate Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| AFG Capital Group, LLC |
|
|
|
|
Preferred Member Units |
(8) |
|
$ |
1,800 |
|
|
$ |
(2,050) |
|
|
$ |
— |
|
|
$ |
2,350 |
|
|
$ |
1,800 |
|
|
$ |
4,150 |
|
|
$ |
— |
|
| Analytical Systems Keco Holdings, LLC |
|
L+ |
10.00% |
|
Secured Debt |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
(2) |
|
|
— |
|
|
— |
|
|
(2) |
|
|
15.25% |
L+ |
10.00% |
|
Secured Debt |
(8) |
|
— |
|
|
— |
|
|
95 |
|
|
1,135 |
|
|
10 |
|
|
35 |
|
|
1,110 |
|
|
14.13% |
|
|
|
Preferred Member Units |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
(8) |
|
— |
|
|
140 |
|
|
— |
|
|
880 |
|
|
140 |
|
|
— |
|
|
1,020 |
|
|
|
|
|
|
Warrants |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| ATX Networks Corp. |
|
L+ |
7.50% |
|
Secured Debt |
(6) |
|
— |
|
|
(102) |
|
|
856 |
|
|
6,368 |
|
|
545 |
|
|
6,913 |
|
|
— |
|
|
|
|
|
|
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 (12) |
(8) |
|
— |
|
|
1 |
|
|
— |
|
|
(1) |
|
|
1 |
|
|
— |
|
|
— |
|
|
10.00% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
17 |
|
|
66 |
|
|
1,205 |
|
|
20 |
|
|
50 |
|
|
1,175 |
|
|
|
|
|
|
Preferred Stock |
(8) |
|
— |
|
|
225 |
|
|
64 |
|
|
455 |
|
|
225 |
|
|
— |
|
|
680 |
|
| Brewer Crane Holdings, LLC |
15.17% |
L+ |
10.00% |
|
Secured Debt |
(9) |
|
— |
|
|
(16) |
|
|
107 |
|
|
1,491 |
|
|
— |
|
|
78 |
|
|
1,413 |
|
|
|
|
|
|
Preferred Member Units |
(9) |
|
— |
|
|
(180) |
|
|
15 |
|
|
1,770 |
|
|
— |
|
|
180 |
|
|
1,590 |
|
| Centre Technologies Holdings, LLC |
|
L+ |
9.00% |
|
Secured Debt (12) |
(8) |
|
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
14.25% |
L+ |
9.00% |
|
Secured Debt |
(8) |
|
— |
|
|
22 |
|
|
266 |
|
|
3,731 |
|
|
27 |
|
|
— |
|
|
3,758 |
|
|
|
|
|
|
Preferred Member Units |
(8) |
|
— |
|
|
430 |
|
|
15 |
|
|
2,170 |
|
|
430 |
|
|
— |
|
|
2,600 |
|
| Chamberlin Holding LLC |
|
SF+ |
6.00% |
|
Secured Debt (12) |
(8) |
|
— |
|
|
19 |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
13.36% |
SF+ |
8.00% |
|
Secured Debt |
(8) |
|
— |
|
|
(4) |
|
|
275 |
|
|
4,236 |
|
|
4 |
|
|
138 |
|
|
4,102 |
|
|
|
|
|
|
Member Units |
(8) |
|
— |
|
|
262 |
|
|
373 |
|
|
5,728 |
|
|
262 |
|
|
— |
|
|
5,990 |
|
|
|
|
|
|
Member Units |
(8) |
|
— |
|
|
30 |
|
|
12 |
|
|
678 |
|
|
30 |
|
|
— |
|
|
708 |
|
| Charps, LLC |
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
120 |
|
|
62 |
|
|
3,330 |
|
|
120 |
|
|
— |
|
|
3,450 |
|
| Clad-Rex Steel, LLC |
|
|
|
|
Secured Debt (12) |
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
11.50% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
(21) |
|
|
151 |
|
|
2,620 |
|
|
— |
|
|
211 |
|
|
2,409 |
|
|
10.00% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
— |
|
|
13 |
|
|
260 |
|
|
— |
|
|
4 |
|
|
256 |
|
|
|
|
|
|
Member Units |
(5) |
|
— |
|
|
(460) |
|
|
69 |
|
|
2,060 |
|
|
— |
|
|
460 |
|
|
1,600 |
|
|
|
|
|
|
Member Units |
(5) |
|
— |
|
|
55 |
|
|
— |
|
|
152 |
|
|
130 |
|
|
— |
|
|
282 |
|
| Cody Pools, Inc. |
|
|
|
|
Secured Debt (12) |
(8) |
|
— |
|
|
2 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
June 30,
2023 Fair Value (13) |
|
12.50% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
28 |
|
|
79 |
|
|
— |
|
|
7,871 |
|
|
— |
|
|
7,871 |
|
|
|
L+ |
10.50% |
|
Secured Debt |
(8) |
|
— |
|
|
(11) |
|
|
26 |
|
|
273 |
|
|
14 |
|
|
287 |
|
|
— |
|
|
|
L+ |
10.50% |
|
Secured Debt |
(8) |
|
— |
|
|
(96) |
|
|
500 |
|
|
6,882 |
|
|
— |
|
|
6,882 |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
(8) |
|
— |
|
|
1,730 |
|
|
362 |
|
|
14,550 |
|
|
1,730 |
|
|
— |
|
|
16,280 |
|
| Colonial Electric Company LLC |
|
|
|
|
Secured Debt |
(6) |
|
— |
|
|
— |
|
|
12 |
|
|
— |
|
|
400 |
|
|
400 |
|
|
— |
|
|
12.00% |
|
|
|
Secured Debt |
(6) |
|
— |
|
|
(77) |
|
|
362 |
|
|
5,729 |
|
|
17 |
|
|
234 |
|
|
5,512 |
|
|
|
|
|
|
Preferred Member Units |
(6) |
|
— |
|
|
360 |
|
|
— |
|
|
— |
|
|
600 |
|
|
— |
|
|
600 |
|
|
|
|
|
|
Preferred Member Units |
(6) |
|
— |
|
|
(370) |
|
|
(295) |
|
|
2,290 |
|
|
— |
|
|
370 |
|
|
1,920 |
|
| Datacom, LLC |
7.50% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
— |
|
|
1 |
|
|
25 |
|
|
64 |
|
|
10 |
|
|
79 |
|
|
10.00% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
— |
|
|
59 |
|
|
865 |
|
|
11 |
|
|
14 |
|
|
862 |
|
|
|
|
|
|
Preferred Member Units |
(8) |
|
— |
|
|
(40) |
|
|
— |
|
|
300 |
|
|
— |
|
|
40 |
|
|
260 |
|
| Digital Products Holdings LLC |
15.25% |
SF+ |
10.00% |
|
Secured Debt |
(5) |
|
— |
|
|
— |
|
|
288 |
|
|
3,878 |
|
|
— |
|
|
195 |
|
|
3,683 |
|
|
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
— |
|
|
25 |
|
|
2,459 |
|
|
— |
|
|
— |
|
|
2,459 |
|
| Direct Marketing Solutions, Inc. |
|
|
|
|
Secured Debt (12) |
(9) |
|
— |
|
|
(1) |
|
|
3 |
|
|
— |
|
|
1 |
|
|
1 |
|
|
— |
|
|
13.00% |
|
|
|
Secured Debt |
(9) |
|
— |
|
|
(11) |
|
|
372 |
|
|
5,352 |
|
|
11 |
|
|
174 |
|
|
5,189 |
|
|
|
|
|
|
Preferred Stock |
(9) |
|
— |
|
|
280 |
|
|
86 |
|
|
5,558 |
|
|
282 |
|
|
— |
|
|
5,840 |
|
| Flame King Holdings, LLC |
|
L+ |
6.50% |
|
Secured Debt |
(9) |
|
— |
|
|
(15) |
|
|
121 |
|
|
1,900 |
|
|
15 |
|
|
1,915 |
|
|
— |
|
|
|
L+ |
9.00% |
|
Secured Debt |
(9) |
|
— |
|
|
(123) |
|
|
478 |
|
|
5,300 |
|
|
123 |
|
|
5,423 |
|
|
— |
|
|
|
|
|
|
Preferred Equity |
(9) |
|
— |
|
|
1,690 |
|
|
513 |
|
|
4,400 |
|
|
1,690 |
|
|
— |
|
|
6,090 |
|
| Freeport Financial Funds |
|
|
|
|
LP Interests (Freeport First Lien Loan Fund III LP) (12) |
(5) |
|
— |
|
|
— |
|
|
291 |
|
|
5,848 |
|
|
— |
|
|
536 |
|
|
5,312 |
|
| Gamber-Johnson Holdings, LLC |
|
SF+ |
8.50% |
|
Secured Debt (12) |
(5) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
11.00% |
SF+ |
8.00% |
|
Secured Debt |
(5) |
|
— |
|
|
(44) |
|
|
925 |
|
|
16,020 |
|
|
44 |
|
|
1,144 |
|
|
14,920 |
|
|
|
|
|
|
Member Units |
(5) |
|
— |
|
|
4,820 |
|
|
727 |
|
|
12,720 |
|
|
4,820 |
|
|
— |
|
|
17,540 |
|
| GFG Group, LLC |
9.00% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
(9) |
|
|
137 |
|
|
2,836 |
|
|
9 |
|
|
9 |
|
|
2,836 |
|
|
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
290 |
|
|
26 |
|
|
1,790 |
|
|
290 |
|
|
— |
|
|
2,080 |
|
| Gulf Publishing Holdings, LLC |
|
L+ |
9.50% |
|
Secured Debt (12) |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
12.50% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
— |
|
|
38 |
|
|
571 |
|
|
— |
|
|
— |
|
|
571 |
|
|
|
|
|
|
Preferred Equity |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
950 |
|
|
— |
|
|
— |
|
|
950 |
|
|
|
|
|
|
Member Units |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| HPEP 3, L.P. |
|
|
|
|
LP Interests (HPEP 3, L.P.) (12) |
(8) |
|
— |
|
|
283 |
|
|
— |
|
|
4,331 |
|
|
283 |
|
|
508 |
|
|
4,106 |
|
| IG Investor, LLC |
|
|
|
|
Secured Debt (12) |
(6) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
170 |
|
|
200 |
|
|
(30) |
|
|
13.00% |
|
|
|
Secured Debt |
(6) |
|
— |
|
|
— |
|
|
39 |
|
|
— |
|
|
9,148 |
|
|
— |
|
|
9,148 |
|
|
|
|
|
|
Common Equity |
(6) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,774 |
|
|
— |
|
|
3,774 |
|
| Independent Pet Partners Intermediate Holdings, LLC |
|
|
|
|
Common Equity |
(6) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
6,540 |
|
|
— |
|
|
6,540 |
|
| Integral Energy Services |
13.04% |
L+ |
7.50% |
|
Secured Debt |
(8) |
|
— |
|
|
(265) |
|
|
1,208 |
|
|
18,425 |
|
|
39 |
|
|
265 |
|
|
18,199 |
|
|
|
|
|
|
Common Stock |
(8) |
|
— |
|
|
(530) |
|
|
13 |
|
|
1,490 |
|
|
— |
|
|
530 |
|
|
960 |
|
| Kickhaefer Manufacturing Company, LLC |
12.00% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
— |
|
|
355 |
|
|
5,093 |
|
|
54 |
|
|
— |
|
|
5,147 |
|
|
9.00% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
— |
|
|
44 |
|
|
961 |
|
|
— |
|
|
5 |
|
|
956 |
|
|
|
|
|
|
Preferred Equity |
(5) |
|
— |
|
|
130 |
|
|
— |
|
|
1,800 |
|
|
130 |
|
|
— |
|
|
1,930 |
|
|
|
|
|
|
Member Units |
(5) |
|
— |
|
|
(18) |
|
|
15 |
|
|
713 |
|
|
— |
|
|
18 |
|
|
695 |
|
| Market Force Information, LLC |
|
|
|
|
Secured Debt |
(9) |
|
(6,463) |
|
|
6,060 |
|
|
— |
|
|
403 |
|
|
6,060 |
|
|
6,463 |
|
|
— |
|
|
|
|
|
|
Member Units |
(9) |
|
(4,160) |
|
|
4,160 |
|
|
— |
|
|
— |
|
|
4,160 |
|
|
4,160 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
June 30,
2023 Fair Value (13) |
| MH Corbin Holding LLC |
13.00% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
288 |
|
|
98 |
|
|
1,137 |
|
|
288 |
|
|
49 |
|
|
1,376 |
|
|
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Mystic Logistics Holdings, LLC |
|
|
|
|
Secured Debt (12) |
(6) |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10.00% |
|
|
|
Secured Debt |
(6) |
|
— |
|
|
— |
|
|
72 |
|
|
1,436 |
|
|
— |
|
|
— |
|
|
1,436 |
|
|
|
|
|
|
Common Stock |
(6) |
|
— |
|
|
1,080 |
|
|
494 |
|
|
5,708 |
|
|
1,080 |
|
|
— |
|
|
6,788 |
|
| NexRev LLC |
|
|
|
|
Secured Debt (12) |
(8) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10.00% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
373 |
|
|
156 |
|
|
2,119 |
|
|
386 |
|
|
413 |
|
|
2,092 |
|
|
|
|
|
|
Preferred Member Units |
(8) |
|
— |
|
|
580 |
|
|
38 |
|
|
280 |
|
|
580 |
|
|
— |
|
|
860 |
|
| NuStep, LLC |
11.75% |
L+ |
6.50% |
|
Secured Debt |
(5) |
|
— |
|
|
(1) |
|
|
63 |
|
|
1,100 |
|
|
1 |
|
|
1 |
|
|
1,100 |
|
|
12.00% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
— |
|
|
280 |
|
|
4,603 |
|
|
3 |
|
|
— |
|
|
4,606 |
|
|
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
90 |
|
|
— |
|
|
2,010 |
|
|
90 |
|
|
— |
|
|
2,100 |
|
|
|
|
|
|
Preferred Member Units |
(5) |
|
— |
|
|
— |
|
|
— |
|
|
1,290 |
|
|
— |
|
|
— |
|
|
1,290 |
|
| Oneliance, LLC |
16.25% |
L+ |
11.00% |
|
Secured Debt |
(7) |
|
— |
|
|
(7) |
|
|
113 |
|
|
1,380 |
|
|
3 |
|
|
27 |
|
|
1,356 |
|
|
|
|
|
|
Preferred Stock |
(7) |
|
— |
|
|
— |
|
|
— |
|
|
264 |
|
|
18 |
|
|
— |
|
|
282 |
|
| Orttech Holdings, LLC |
|
L+ |
11.00% |
|
Secured Debt (12) |
(5) |
|
— |
|
|
2 |
|
|
— |
|
|
(2) |
|
|
2 |
|
|
— |
|
|
— |
|
|
16.25% |
L+ |
11.00% |
|
Secured Debt |
(5) |
|
— |
|
|
72 |
|
|
472 |
|
|
5,814 |
|
|
87 |
|
|
201 |
|
|
5,700 |
|
|
|
|
|
|
Preferred Stock |
(5) |
|
— |
|
|
1,200 |
|
|
134 |
|
|
2,940 |
|
|
1,200 |
|
|
— |
|
|
4,140 |
|
| Robbins Bros. Jewelry, Inc. |
|
|
|
|
Secured Debt (12) |
(9) |
|
— |
|
|
— |
|
|
2 |
|
|
(8) |
|
|
1 |
|
|
— |
|
|
(7) |
|
|
12.50% |
|
|
|
Secured Debt |
(9) |
|
— |
|
|
(22) |
|
|
255 |
|
|
3,902 |
|
|
9 |
|
|
97 |
|
|
3,814 |
|
|
|
|
|
|
Preferred Equity |
(9) |
|
— |
|
|
(970) |
|
|
— |
|
|
1,650 |
|
|
— |
|
|
970 |
|
|
680 |
|
| SI East, LLC |
|
|
|
|
Secured Debt (12) |
(7) |
|
— |
|
|
— |
|
|
5 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
12.78% |
|
|
|
Secured Debt |
(7) |
|
— |
|
|
179 |
|
|
100 |
|
|
— |
|
|
18,179 |
|
|
— |
|
|
18,179 |
|
|
|
|
|
|
Secured Debt |
(7) |
|
— |
|
|
(134) |
|
|
1,403 |
|
|
29,929 |
|
|
— |
|
|
29,929 |
|
|
— |
|
|
|
|
|
|
Preferred Member Units |
(7) |
|
— |
|
|
608 |
|
|
213 |
|
|
4,550 |
|
|
710 |
|
|
— |
|
|
5,260 |
|
| Student Resource Center, LLC |
8.50% |
|
|
8.50% |
Secured Debt |
(6) |
|
— |
|
|
— |
|
|
239 |
|
|
5,063 |
|
|
237 |
|
|
— |
|
|
5,300 |
|
|
|
|
|
|
Preferred Equity |
(6) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| Tedder Industries, LLC |
12.00% |
|
|
|
Secured Debt |
(9) |
|
— |
|
|
— |
|
|
28 |
|
|
460 |
|
|
— |
|
|
— |
|
|
460 |
|
|
12.00% |
|
|
|
Secured Debt |
(9) |
|
— |
|
|
— |
|
|
232 |
|
|
3,780 |
|
|
3 |
|
|
— |
|
|
3,783 |
|
|
|
|
|
|
Preferred Member Units |
(9) |
|
— |
|
|
(347) |
|
|
— |
|
|
1,920 |
|
|
— |
|
|
347 |
|
|
1,573 |
|
|
|
|
|
|
Preferred Member Units |
(9) |
|
— |
|
|
44 |
|
|
— |
|
|
— |
|
|
133 |
|
|
— |
|
|
133 |
|
| Trantech Radiator Topco, LLC |
|
|
|
|
Secured Debt (12) |
(7) |
|
— |
|
|
(1) |
|
|
2 |
|
|
— |
|
|
1 |
|
|
1 |
|
|
— |
|
|
12.00% |
|
|
|
Secured Debt |
(7) |
|
— |
|
|
(7) |
|
|
126 |
|
|
1,980 |
|
|
7 |
|
|
7 |
|
|
1,980 |
|
|
|
|
|
|
Common Stock |
(7) |
|
— |
|
|
990 |
|
|
15 |
|
|
1,950 |
|
|
990 |
|
|
— |
|
|
2,940 |
|
| Volusion, LLC |
10.00% |
|
|
|
Secured Debt |
(8) |
|
— |
|
|
— |
|
|
23 |
|
|
— |
|
|
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) |
|
— |
|
|
(306) |
|
|
— |
|
|
— |
|
|
4,906 |
|
|
306 |
|
|
4,600 |
|
|
|
|
|
|
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) |
|
— |
|
|
— |
|
|
4 |
|
|
(5) |
|
|
3 |
|
|
— |
|
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
June 30,
2023 Fair Value (13) |
|
11.50% |
|
|
|
Secured Debt |
(5) |
|
— |
|
|
— |
|
|
462 |
|
|
7,421 |
|
|
29 |
|
|
311 |
|
|
7,139 |
|
|
|
|
|
|
Preferred Equity |
(5) |
|
— |
|
|
(30) |
|
|
54 |
|
|
2,990 |
|
|
— |
|
|
30 |
|
|
2,960 |
|
Other
Amounts related to
investments transferred to
or from other
1940 Act classification
during the period |
|
|
|
|
|
|
|
— |
|
|
— |
|
|
(245) |
|
|
(6,392) |
|
|
6,392 |
|
|
— |
|
|
— |
|
| Total Affiliate investments |
|
|
|
|
|
|
|
$ |
(7,186) |
|
|
$ |
17,688 |
|
|
$ |
15,299 |
|
|
$ |
277,000 |
|
|
$ |
93,924 |
|
|
$ |
92,673 |
|
|
$ |
278,251 |
|
___________________________________________________
(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 June 30, 2023 for affiliate investments located in this region was $96,977. This represented 15.8% of net assets as of June 30, 2023.
(6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of June 30, 2023 for affiliate investments located in this region was $40,988. This represented 6.7% of net assets as of June 30, 2023.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of June 30, 2023 for affiliate investments located in this region was $29,997. This represented 4.9% of net assets as of June 30, 2023.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of June 30, 2023 for control investments located in this region was $48,820. This represented 8.0% of net assets as of June 30, 2023. The fair value as of June 30, 2023 for affiliate investments located in this region was $79,731. This represented 13.0% of net assets as of June 30, 2023.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of June 30, 2023 for control investments located in this region was $588. This represented 0.1% of net assets as of June 30, 2023. The fair value as of June 30, 2023 for affiliate investments located in this region was $30,558. This represented 5.0% of net assets as of June 30, 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 June 30, 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.
|