Consolidated Schedule of Investments In and Advances to Affiliates

v3.25.1

Consolidated Schedule of Investments In and Advances to Affiliates	12 Months Ended
	Dec. 31, 2024
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, 2023 Fair Value (13) Gross Additions (3) Gross Reductions (4) December 31, 2024 Fair Value (13) Control Investments BDB Holdings, LLC Preferred Equity (7) $ —  $ (415) $ —  $ —  $ 13,025  $ 415  $ 12,610  Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  —  —  568  —  38  530  GRT Rubber Technologies LLC 10.66% SF+ 6.00% Secured Debt (12) (8) —  2  167  1,182  368  —  1,550  12.66% SF+ 8.00% Secured Debt (8) —  (50) 2,746  19,944  50  50  19,944  Member Units (8) —  710  113  21,890  710  —  22,600  Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) 147  2,691  311  6,050  2,837  147  8,740  Volusion, LLC 10.00% Secured Debt (8) —  —  91  900  —  —  900  Preferred Member Units (8) —  —  13  —  —  —  —  Preferred Member Units (8) —  1,895  —  3,110  1,895  2,001  3,004  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 $ 147  $ 4,833  $ 3,441  $ 53,644  $ 18,885  $ 2,651  $ 69,878  Affiliate Investments Analytical Systems Keco Holdings, LLC Secured Debt (12) (8) $ —  $ —  $ 4  $ 54  $ —  $ 54  $ —  13.75% Secured Debt (8) —  —  175  1,020  79  87  1,012  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) —  120  —  1,210  120  —  1,330  Warrants (8) —  —  —  —  —  —  —  Barfly Ventures, LLC Member Units (5) —  573  —  1,380  573  —  1,953  Batjer TopCo, LLC 10.00% Secured Debt (12) (8) —  (1) 5  —  51  1  50  10.00% Secured Debt (12) (8) —  —  3  30  —  —  30  10.00% Secured Debt (8) —  (15) 124  1,175  5  15  1,165  Preferred Stock (8) —  (110) 85  680  —  110  570  Brewer Crane Holdings, LLC 14.66% SF+ 10.00% Secured Debt (9) —  —  205  1,374  4  124  1,254  Preferred Member Units (9) —  (230) 30  1,400  —  230  1,170  Centre Technologies Holdings, LLC SF+ 9.00% Secured Debt (12) (8) —  —  3  —  —  —  —  13.66% SF+ 9.00% Secured Debt (8) —  28  79  —  6,564  180  6,384  SF+ 10.00% Secured Debt (8) —  —  725  —  919  919  —  Secured Debt (8) —  (29) 84  4,394  —  4,394  —  Preferred Member Units (8) —  284  30  2,760  350  —  3,110  Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  (22) 25  —  22  22  —  12.74% SF+ 8.00% Secured Debt (8) —  (1) 530  3,905  1  1  3,905  Member Units (8) —  950  1,179  7,330  950  —  8,280  Member Units (8) —  173  23  715  174  1  888  Charps, LLC Preferred Member Units (5) —  (20) 200  3,920  —  20  3,900  Clad-Rex Steel, LLC Secured Debt (12) (5) —  —  1  —  —  —  —  9.00% Secured Debt (5) —  46  219  2,103  37  450  1,690  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 (13) Gross Additions (3) Gross Reductions (4) December 31, 2024 Fair Value (13) 10.00% Secured Debt (5) —  2  25  251  2  10  243  Member Units (5) —  1,450  173  1,300  1,450  —  2,750  Member Units (5) —  (45) —  282  —  45  237  Cody Pools, Inc. Secured Debt (12) (8) —  1  8  —  236  236  —  12.50% Secured Debt (8) —  (8) 873  7,111  7  520  6,598  Preferred Member Units (8) —  (1,170) 407  18,120  —  1,170  16,950  Colonial Electric Company LLC Secured Debt (12) (6) —  —  2  —  —  —  —  12.00% Secured Debt (6) —  64  598  5,407  106  1,935  3,578  Preferred Member Units (6) —  (360) 503  600  —  600  —  Preferred Member Units (6) —  1,470  577  1,920  1,470  —  3,390  Compass Systems & Sales, LLC Secured Debt (5) —  —  19  —  584  600  (16) 13.50% Secured Debt (5) —  —  616  4,175  26  —  4,201  Preferred Equity (5) —  (3) 60  1,863  —  3  1,860  Datacom, LLC 7.50% Secured Debt (8) —  —  4  49  66  60  55  10.00% Secured Debt (8) —  43  114  844  64  30  878  Preferred Member Units (8) —  20  —  10  20  —  30  Digital Products Holdings LLC 14.56% SF+ 10.00% Secured Debt (5) —  (18) 532  3,673  14  582  3,105  Preferred Member Units (5) —  —  50  2,459  —  —  2,459  Direct Marketing Solutions, Inc. Secured Debt (9) —  (2) 11  217  302  519  —  14.00% Secured Debt (9) —  (14) 700  5,002  14  348  4,668  Preferred Stock (9) —  (700) —  5,180  —  700  4,480  DMA Industries, LLC 12.00% Secured Debt (7) —  —  9  —  138  —  138  12.00% Secured Debt (7) —  (58) 555  4,700  19  558  4,161  Preferred Equity (7) —  (434) —  1,920  —  434  1,486  15.00% 15.00% Preferred Equity (7) —  —  43  —  810  —  810  Flame King Holdings, LLC Preferred Equity (9) —  2,010  1,229  6,970  2,010  —  8,980  Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (5) —  59  41  3,705  58  2,500  1,263  Gamber-Johnson Holdings, LLC SF+ 7.00% Secured Debt (12) (5) —  —  2  —  —  —  —  11.00% SF+ 7.00% Secured Debt (12) (5) —  115  181  —  18,282  —  18,282  SF+ 7.00% Secured Debt (5) —  (184) 1,395  13,520  —  13,520  —  Member Units (5) —  4,510  1,984  24,180  4,510  —  28,690  GFG Group, LLC 8.00% Secured Debt (5) —  (17) 198  2,336  17  307  2,046  Preferred Member Units (5) —  (230) 453  2,870  —  230  2,640  Gulf Publishing Holdings, LLC SF+ 9.50% Secured Debt (12) (8) —  —  —  —  —  —  —  12.50% 12.50% Secured Debt (8) —  (173) 20  571  —  193  378  Preferred Equity (8) —  (620) —  620  —  620  —  Member Units (8) —  —  —  —  —  —  —  HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (12) (8) —  247  1  4,225  247  —  4,472  IG Investor, LLC 13.00% Secured Debt (12) (6) —  —  33  (27) 406  —  379  13.00% Secured Debt (6) —  —  1,259  9,069  64  440  8,693  Common Equity (6) —  460  —  3,600  460  —  4,060  Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  970  —  6,320  970  —  7,290  Integral Energy Services 12.35% SF+ 7.50% Secured Debt (8) —  390  2,138  16,232  475  1,835  14,872  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 (13) Gross Additions (3) Gross Reductions (4) December 31, 2024 Fair Value (13) 10.00% 10.00% Preferred Equity (8) —  153  32  350  185  —  535  Common Stock (8) —  450  50  190  450  —  640  Kickhaefer Manufacturing Company, LLC 11.50% Secured Debt (5) —  —  543  4,933  8  1,200  3,741  9.00% Secured Debt (5) —  —  88  951  42  11  982  Preferred Equity (5) —  640  —  2,420  640  —  3,060  Member Units (5) —  (5) 31  683  —  5  678  MH Corbin Holding LLC Secured Debt (5) (960) 95  139  1,256  94  1,350  —  Preferred Member Units (5) (1,100) 1,020  —  80  1,020  1,100  —  Preferred Member Units (5) (1,500) 1,500  —  —  1,500  1,500  —  Mills Fleet Farm Group, LLC SF+ 7.00% Secured Debt (5) (5,022) 339  1,820  17,524  —  17,524  —  Common Equity (5) —  —  —  —  11,166  —  11,166  Mystic Logistics Holdings, LLC Secured Debt (12) (6) —  —  1  —  —  —  —  10.00% Secured Debt (6) —  4  147  1,436  —  —  1,436  Common Stock (6) —  (8) 950  6,598  —  8  6,590  Nello Industries Investco, LLC SF+ 6.50% Secured Debt (5) —  —  248  —  5,388  5,400  (12) 13.50% Secured Debt (5) —  —  538  —  6,619  —  6,619  Common Equity (5) —  860  234  —  3,890  —  3,890  NexRev LLC Secured Debt (12) (8) —  —  30  —  844  844  —  9.00% Secured Debt (8) —  3  260  2,435  18  —  2,453  Preferred Member Units (8) —  1,380  244  1,590  1,380  —  2,970  NuStep, LLC 11.16% SF+ 6.50% Secured Debt (5) —  —  110  899  1  —  900  12.00% Secured Debt (5) —  —  566  4,606  4  —  4,610  Preferred Member Units (5) —  164  —  2,310  580  —  2,890  Preferred Member Units (5) —  29  —  1,290  210  —  1,500  Oneliance, LLC SF+ 10.00% Secured Debt (7) —  7  142  1,339  21  1,360  —  Preferred Stock (7) —  358  3  282  358  —  640  Orttech Holdings, LLC SF+ 11.00% Secured Debt (12) (5) —  (1) 1  —  1  1  —  15.66% SF+ 11.00% Secured Debt (5) —  (23) 932  5,510  23  43  5,490  Preferred Stock (5) —  (900) 112  4,260  —  900  3,360  Pinnacle TopCo, LLC Secured Debt (12) (8) —  8  5  105  10  115  —  13.00% Secured Debt (8) —  141  1,033  7,472  188  500  7,160  Preferred Equity (8) —  1,455  530  3,135  1,455  —  4,590  RA Outdoors LLC 11.74% SF+ 6.75% 11.74% Secured Debt (8) —  (44) 65  745  519  49  1,215  11.74% SF+ 6.75% 11.74% Secured Debt (8) —  (460) 685  12,089  850  229  12,710  Common Equity (8) —  —  —  —  —  —  —  Robbins Bros. Jewelry, Inc. 10.00% Secured Debt (9) —  —  1  (6) —  1  (7) 12.50% 10.00% Secured Debt (9) —  (1,663) 123  3,421  —  1,804  1,617  Preferred Equity (9) —  —  —  —  —  —  —  SI East, LLC 11.75% Secured Debt (12) (7) —  —  88  375  750  375  750  Secured Debt (7) —  (161) 947  18,179  —  18,179  —  12.79% Secured Debt (7) —  21  1,948  —  22,554  —  22,554  Preferred Member Units (7) —  (1,840) 541  6,390  —  1,840  4,550  Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  (1,717) —  3,543  —  1,717  1,826  Preferred Equity (6) —  —  —  —  —  —  —  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 (13) Gross Additions (3) Gross Reductions (4) December 31, 2024 Fair Value (13) 8.50% 8.50% Secured Debt (6) —  —  5  —  227  —  227  Tedder Industries, LLC 12.00% 12.00% Secured Debt (9) —  (15) 14  432  —  20  412  12.00% 12.00% Secured Debt (9) —  (2,626) 115  3,565  —  2,664  901  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Trantech Radiator Topco, LLC Secured Debt (12) (7) —  (1) 1  —  —  1  (1) 13.50% Secured Debt (7) —  (6) 274  1,980  —  18  1,962  Common Stock (7) —  (1,040) 29  3,180  —  1,040  2,140  Urgent DSO LLC 13.50% Secured Debt (5) —  —  280  —  2,145  —  2,145  9.00% 9.00% Preferred Equity (5) —  —  80  —  1,080  —  1,080  Victory Energy Operations, LLC Secured Debt (8) —  —  1  —  —  5  (5) 13.00% Secured Debt (8) —  —  263  —  7,529  —  7,529  Preferred Equity (8) —  —  —  —  4,198  554  3,644  VVS Holdco LLC SF+ 6.00% Secured Debt (12) (5) —  —  4  —  —  —  —  11.50% Secured Debt (5) —  —  843  6,926  50  610  6,366  Preferred Equity (5) —  —  100  3,060  —  —  3,060  Other Amounts related to investments transferred to or from other 1940 Act classification during the period 5,022  153  (2,516) (36,978) —  —  —  Total Affiliate investments $ (3,560) $ 7,791  $ 31,222  $ 291,279  $ 118,673  $ 95,570  $ 351,360  ___________________________________________________ (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 8. Consolidated Financial Statements and Supplementary Data of this Annual Report on Form 10-K. (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 to or 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 December 31, 2024 for affiliate investments located in this region was $136,828. This represented 21.9% of net assets as of December 31, 2024. (6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of December 31, 2024 for affiliate investments located in this region was $37,469. This represented 6.0% of net assets as of December 31, 2024. (7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of December 31, 2024 for affiliate investments located in this region was $39,190. This represented 6.3% of net assets as of December 31, 2024. (8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of December 31, 2024 for control investments located in this region was $56,738. This represented 9.1% of net assets as of December 31, 2024. The fair value as of December 31, 2024 for affiliate investments located in this region was $114,398. This represented 18.3% of net assets as of December 31, 2024. (9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of December 31, 2024 for control investments located in this region was $530. This represented 0.1% of net assets as of December 31, 2024. The fair value as of December 31, 2024 for affiliate investments located in this region was $23,475. This represented 3.8% of net assets as of December 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 8. Consolidated Financial Statements and Supplementary Data of this Annual Report on Form 10-K. 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 December 31, 2024 (see Note I — Commitments and Contingencies included in Item 8. Consolidated Financial Statements and Supplementary Data of this Annual Report on Form 10-K). 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 (13) Gross Additions(3) Gross Reductions(4) December 31, 2023 Fair Value (13) Control Investments Copper Trail Fund Investments LP Interests (CTMH, LP) (9) $ —  $ —  $ 38  $ 588  $ —  $ 20  $ 568  GRT Rubber Technologies LLC 11.48% SF+ 6.00% Secured Debt (12) (8) —  3  88  330  852  —  1,182  13.48% SF+ 8.00% Secured Debt (8) —  (50) 2,696  19,943  51  50  19,944  Member Units (8) —  —  90  21,890  —  —  21,890  Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) 2,223  (952) 142  7,552  2,796  4,298  6,050  Volusion, LLC 10.00% Secured Debt (8) —  —  69  —  900  —  900  11.50% Secured Debt (8) (1,366) 780  71  6,392  —  6,392  —  8.00% Unsecured Convertible Debt (8) (175) 175  —  —  175  175  —  Preferred Member Units (8) —  —  1  —  —  —  —  Preferred Member Units (8) —  (596) —  —  4,906  1,796  3,110  Preferred Member Units (8) —  —  —  —  —  —  —  Common Stock (8) —  (1,104) —  —  1,104  1,104  —  Warrants (8) —  1,104  —  —  —  —  —  Other Amounts related to investments transferred to or from other 1940 Act classification during the period 1,541  (649) (94) (6,392) 6,392  —  —  Total Control Investments $ 2,223  $ (1,289) $ 3,101  $ 50,303  $ 17,176  $ 13,835  $ 53,644  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 15.38% SF+ 10.00% Secured Debt (12) (8) —  —  4  (2) 56  —  54  15.38% SF+ 10.00% Secured Debt (8) —  —  188  1,135  21  136  1,020  14.13% Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) —  330  —  880  330  —  1,210  Warrants (8) —  —  —  —  —  —  —  ATX Networks Corp. L+ 7.50% Secured Debt (6) —  (102) 856  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) —  273  —  1,107  273  —  1,380  Batjer TopCo, LLC 10.00% Secured Debt (12) (8) —  1  —  (1) 1  —  —  10.00% Secured Debt (12) (8) —  —  2  —  70  40  30  10.00% Secured Debt (8) —  15  129  1,205  21  51  1,175  Preferred Stock (8) —  225  76  455  225  —  680  Brewer Crane Holdings, LLC 15.46% L+ 10.00% Secured Debt (9) —  —  224  1,491  8  125  1,374  Preferred Member Units (9) —  (370) 30  1,770  —  370  1,400  Centre Technologies Holdings, LLC SF+ 9.00% Secured Debt (12) (8) —  —  3  —  —  —  —  14.48% SF+ 9.00% Secured Debt (8) —  29  572  3,731  663  —  4,394  Preferred Member Units (8) —  590  30  2,170  590  —  2,760  Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  49  11  —  —  —  —  13.49% SF+ 8.00% Secured Debt (8) —  (4) 553  4,236  4  335  3,905  Member Units (8) —  1,599  1,045  5,728  1,602  —  7,330  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 (13) Gross Additions(3) Gross Reductions(4) December 31, 2023 Fair Value (13) Member Units (8) —  37  23  678  38  1  715  Charps, LLC Preferred Member Units (5) —  590  366  3,330  590  —  3,920  Clad-Rex Steel, LLC 11.50% Secured Debt (12) (5) —  —  —  —  —  —  —  11.50% Secured Debt (5) —  (37) 284  2,620  —  517  2,103  10.00% Secured Debt (5) —  —  26  260  —  9  251  Member Units (5) —  (760) 69  2,060  —  760  1,300  Member Units (5) —  55  —  152  130  —  282  Cody Pools, Inc. 12.50% Secured Debt (12) (8) —  2  1  —  —  —  —  12.50% Secured Debt (8) —  22  562  —  7,872  761  7,111  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) —  3,570  1,219  14,550  3,570  —  18,120  Colonial Electric Company LLC Secured Debt (6) —  —  12  —  400  400  —  12.00% Secured Debt (6) —  (41) 471  5,729  34  356  5,407  Preferred Member Units (6) —  360  —  —  600  —  600  Preferred Member Units (6) —  (370) —  2,290  —  370  1,920  Compass Systems & Sales, LLC 13.50% Secured Debt (5) —  —  —  —  —  —  —  13.50% Secured Debt (5) —  —  69  —  4,175  —  4,175  Preferred Equity (5) —  —  —  —  1,863  —  1,863  Datacom, LLC 7.50% Secured Debt (8) —  —  4  25  89  65  49  10.00% Secured Debt (8) —  (14) 107  865  22  43  844  Preferred Member Units (8) —  (290) —  300  —  290  10  Digital Products Holdings LLC 15.38% SF+ 10.00% Secured Debt (5) —  (17) 586  3,878  —  205  3,673  Preferred Member Units (5) —  —  50  2,459  —  —  2,459  Direct Marketing Solutions, Inc. 14.00% Secured Debt (9) —  (2) 13  —  227  10  217  14.00% Secured Debt (9) —  (19) 730  5,352  19  369  5,002  Preferred Stock (9) —  (380) 43  5,558  —  378  5,180  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) —  2,570  814  4,400  2,570  —  6,970  Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (12) (5) —  —  598  5,848  —  2,143  3,705  Gamber-Johnson Holdings, LLC SF+ 7.50% Secured Debt (12) (5) —  —  2  —  —  —  —  10.50% SF+ 7.50% Secured Debt (5) —  (88) 1,727  16,020  88  2,588  13,520  Member Units (5) —  11,460  1,491  12,720  11,460  —  24,180  GFG Group, LLC 8.00% Secured Debt (5) —  (25) 263  2,836  25  525  2,336  Preferred Member Units (5) —  1,080  200  1,790  1,080  —  2,870  Gulf Publishing Holdings, LLC SF+ 9.50% Secured Debt (12) (8) —  —  —  —  —  —  —  12.50% Secured Debt (8) —  —  73  571  —  —  571  Preferred Equity (8) —  (330) —  950  —  330  620  Member Units (8) —  —  —  —  —  —  —  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 (13) Gross Additions(3) Gross Reductions(4) December 31, 2023 Fair Value (13) HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (12) (8) —  156  4  4,331  403  509  4,225  IG Investor, LLC Secured Debt (12) (6) —  —  5  —  173  200  (27) 13.00% Secured Debt (6) —  —  692  —  9,179  110  9,069  Common Equity (6) —  —  —  —  3,774  174  3,600  Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  (220) —  —  6,540  220  6,320  Integral Energy Services 13.16% SF+ 7.50% Secured Debt (8) —  (787) 2,773  18,425  94  2,287  16,232  10.00% 10.00% Preferred Equity (8) —  85  —  —  350  —  350  Common Stock (8) —  (1,300) 50  1,490  —  1,300  190  Kickhaefer Manufacturing Company, LLC 12.00% Secured Debt (5) —  (18) 668  5,093  58  218  4,933  9.00% Secured Debt (5) —  —  86  961  —  10  951  Preferred Equity (5) —  620  —  1,800  620  —  2,420  Member Units (5) —  (30) 29  713  —  30  683  Market Force Information, LLC L+ 11.00% Secured Debt (9) (6,465) 6,060  —  403  6,060  6,463  —  Member Units (9) (4,160) 4,160  —  —  4,160  4,160  —  MH Corbin Holding LLC 13.00% Secured Debt (5) —  307  190  1,137  308  189  1,256  Preferred Member Units (5) —  80  —  —  80  —  80  Preferred Member Units (5) —  —  —  —  —  —  —  Mystic Logistics Holdings, LLC Secured Debt (12) (6) —  —  1  —  —  —  —  10.00% Secured Debt (6) —  —  146  1,436  —  —  1,436  Common Stock (6) —  890  1,131  5,708  890  —  6,598  NexRev LLC 10.00% Secured Debt (12) (8) —  —  —  —  —  —  —  10.00% Secured Debt (8) —  708  289  2,119  729  413  2,435  Preferred Member Units (8) —  1,310  166  280  1,310  —  1,590  NuStep, LLC 11.98% SF+ 6.50% Secured Debt (5) —  (2) 120  1,100  1  202  899  12.00% Secured Debt (5) —  —  564  4,603  3  —  4,606  Preferred Member Units (5) —  300  —  2,010  300  —  2,310  Preferred Member Units (5) —  —  —  1,290  —  —  1,290  Oneliance, LLC 16.48% SF+ 11.00% Secured Debt (7) —  (7) 231  1,380  6  47  1,339  Preferred Stock (7) —  —  —  264  18  —  282  Orttech Holdings, LLC SF+ 11.00% Secured Debt (12) (5) —  2  1  (2) 2  —  —  16.48% SF+ 11.00% Secured Debt (5) —  58  955  5,814  86  390  5,510  Preferred Stock (5) —  1,320  274  2,940  1,320  —  4,260  Pinnacle TopCo, LLC 8.00% Secured Debt (12) (8) —  —  1  —  105  —  105  13.00% Secured Debt (8) —  —  34  —  7,472  —  7,472  Preferred Equity (8) —  —  —  —  3,135  —  3,135  Robbins Bros. Jewelry, Inc. 12.50% Secured Debt (9) —  —  4  (8) 2  —  (6) 12.50% Secured Debt (9) —  (323) 507  3,902  18  499  3,421  Preferred Equity (9) —  (1,650) —  1,650  —  1,650  —  SI East, LLC 11.25% Secured Debt (12) (7) —  6  28  —  625  250  375  12.47% Secured Debt (7) —  161  1,278  —  18,179  —  18,179  9.50% Secured Debt (7) —  (134) 1,403  29,929  —  29,929  —  Preferred Member Units (7) —  1,737  399  4,550  1,840  —  6,390  Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  (1,881) 364  5,063  244  1,764  3,543  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 (13) Gross Additions(3) Gross Reductions(4) December 31, 2023 Fair Value (13) Preferred Equity (6) —  —  —  —  —  —  —  Tedder Industries, LLC 12.00% Secured Debt (9) —  (28) 56  460  —  28  432  12.00% Secured Debt (9) —  (218) 466  3,780  3  218  3,565  Preferred Member Units (9) —  (1,920) —  1,920  —  1,920  —  Preferred Member Units (9) —  (141) —  —  124  124  —  Preferred Member Units (9) —  (165) —  —  165  165  —  Trantech Radiator Topco, LLC 8.00% Secured Debt (12) (7) —  (2) 3  —  2  2  —  12.00% Secured Debt (7) —  (14) 255  1,980  14  14  1,980  Common Stock (7) —  1,230  29  1,950  1,230  —  3,180  VVS Holdco LLC SF+ 6.00% Secured Debt (12) (5) —  —  10  (5) 5  —  —  11.50% Secured Debt (5) —  —  904  7,421  55  550  6,926  Preferred Equity (5) —  (30) 54  2,990  100  30  3,060  Other Amounts related to investments transferred to or from other 1940 Act classification during the period (1,541) 649  (151) —  —  —  —  Total Affiliate investments $ (7,188) $ 25,116  $ 29,805  $ 277,000  $ 115,308  $ 101,029  $ 291,279  ___________________________________________________ (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 8. Consolidated Financial Statements and Supplementary Data of this Annual Report on Form 10-K. (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 to or 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 December 31, 2023 for affiliate investments located in this region was $107,201. This represented 17.2% of net assets as of December 31, 2023. (6)Portfolio company located in the Northeast region as determined by location of the corporate headquarters. The fair value as of December 31, 2023 for affiliate investments located in this region was $38,466. This represented 6.2% of net assets as of December 31, 2023. (7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of December 31, 2023 for affiliate investments located in this region was $31,725. This represented 5.1% of net assets as of December 31, 2023. (8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of December 31, 2023 for control investments located in this region was $53,076. This represented 8.5% of net assets as of December 31, 2023. The fair value as of December 31, 2023 for affiliate investments located in this region was $86,332. This represented 13.9% of net assets as of December 31, 2023. (9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of December 31, 2023 for control investments located in this region was $568. This represented 0.1% of net assets as of December 31, 2023. The fair value as of December 31, 2023 for affiliate investments located in this region was $27,555. This represented 4.4% of net assets as of December 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 8. Consolidated Financial Statements and Supplementary Data of this Annual Report on Form 10-K. 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 December 31, 2023 (see Note I — Commitments and Contingencies included in Item 8. Consolidated Financial Statements and Supplementary Data of this Annual Report on Form 10-K). 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.