Consolidated Schedule of Investments In and Advances to Affiliates

v3.26.1

Consolidated Schedule of Investments In and Advances to Affiliates	3 Months Ended
	Mar. 31, 2026
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, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Control Investments BDB Holdings, LLC Preferred Equity (7) $ —  $ (3,240) $ —  $ 8,430  $ —  $ 3,241  $ 5,189  12.00% Secured Debt (7) —  —  35  1,182  —  —  1,182  Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  140  —  390  140  —  530  GRT Rubber Technologies LLC 9.79% SF+ 6.00% Secured Debt (8) —  (1) 39  1,550  1  1  1,550  11.79% SF+ 8.00% Secured Debt (8) —  (12) 601  19,944  12  12  19,944  Member Units (8) —  (1,150) 497  22,830  —  1,150  21,680  Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) —  60  —  1,897  60  —  1,957  Volusion, LLC 10.00% Secured Debt (8) —  —  23  900  —  —  900  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) —  (249) —  1,249  —  379  870  Common Stock (8) —  —  —  —  —  —  —  Other Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  —  —  —  —  —  Total Control investments $ —  $ (4,452) $ 1,195  $ 58,372  $ 213  $ 4,783  $ 53,802  Affiliate Investments American Nuts, LLC Preferred Equity (9) $ —  $ (130) $ —  $ 1,210  $ —  $ 130  $ 1,080  12.31% SF+ 8.50% 12.31% Secured Debt (9) —  —  72  2,325  72  —  2,397  12.31% SF+ 8.50% 12.31% Secured Debt (9) —  31  72  1,875  103  —  1,978  12.36% SF+ 8.50% 12.36% Secured Debt (9) —  —  —  —  89  —  89  Analytical Systems Keco Holdings, LLC 13.25% Secured Debt (8) —  —  32  965  1  38  928  Preferred Member Units (8) —  110  —  30  110  —  140  Preferred Member Units (8) —  —  —  1,510  —  —  1,510  Warrants (8) —  —  —  —  —  —  —  Batjer TopCo, LLC 10.00% Secured Debt (8) —  (1) 28  1,105  1  13  1,093  Preferred Stock (8) —  70  65  970  70  —  1,040  Bettercloud, Inc. Common Equity (6) (1,656) 354  —  4,550  354  4,904  —  SF+ 8.25% Secured Debt (6) —  —  90  1,747  670  2,417  —  Brewer Crane Holdings, LLC 13.79% SF+ 10.00% Secured Debt (9) —  —  43  1,254  —  —  1,254  Preferred Member Units (9) —  (120) 8  860  —  120  740  15.00% 15.00% Preferred Member Units (9) —  —  3  84  3  —  87  Centre Technologies Holdings, LLC SF+ 8.00% Secured Debt (12) (8) —  —  1  —  60  60  —  11.79% SF+ 8.00% Secured Debt (8) —  (2) 180  6,021  2  2  6,021  Preferred Member Units (8) —  810  8  10,680  810  —  11,490  Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  (2) 3  —  2  2  —  11.86% SF+ 8.00% Secured Debt (8) —  (14) 326  10,505  14  214  10,305  Member Units (8) —  1,000  381  8,880  1,000  —  9,880  Member Units (8) —  (23) 6  1,043  —  23  1,020  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, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Charps, LLC Preferred Member Units (5) —  —  —  4,010  —  —  4,010  Clad-Rex Steel, LLC Secured Debt (12) (5) —  —  2  —  —  —  —  10.00% Secured Debt (5) —  (2) 60  2,370  2  62  2,310  10.00% Secured Debt (5) —  —  6  232  —  3  229  Member Units (5) —  190  106  3,530  190  —  3,720  Member Units (5) —  60  —  317  60  —  377  Cody Pools, Inc. Secured Debt (12) (8) —  2  4  —  314  314  —  12.50% Secured Debt (8) —  (7) 188  5,891  7  115  5,783  Preferred Member Units (8) —  (200) 97  16,270  —  200  16,070  Colonial Electric Company LLC Secured Debt (12) (6) —  —  1  —  —  —  —  9.00% Secured Debt (6) —  22  52  2,195  —  —  2,195  Preferred Member Units (6) —  530  364  4,210  530  —  4,740  Compass Systems & Sales, LLC Secured Debt (5) —  —  1  (12) 1  —  (11) 13.50% Secured Debt (5) —  —  155  4,249  10  251  4,008  Preferred Equity (5) —  60  15  1,800  60  —  1,860  Datacom, LLC 7.50% Secured Debt (8) —  —  1  75  15  15  75  10.00% Secured Debt (8) —  (113) 22  463  —  120  343  Preferred Member Units (8) —  —  —  —  —  —  —  Digital Products Holdings LLC 13.69% SF+ 10.00% Secured Debt (5) —  —  105  2,834  3  —  2,837  Preferred Member Units (5) —  —  13  2,459  —  —  2,459  Direct Marketing Solutions, Inc. Secured Debt (12) (9) —  18  10  315  285  600  —  14.00% Secured Debt (9) —  (1) 55  4,501  —  4,501  —  14.00% Secured Debt (9) —  215  194  —  8,726  —  8,726  Preferred Stock (9) —  1,109  —  4,940  2,309  40  7,209  DMA Industries, LLC 10.00% Secured Debt (7) —  —  4  140  —  —  140  10.00% Secured Debt (7) —  (2) 82  3,200  2  2  3,200  Preferred Equity (7) —  1,120  —  2,296  1,120  —  3,416  15.00% 15.00% Preferred Equity (7) —  580  35  1,358  615  —  1,973  Flame King Holdings, LLC Preferred Equity (9) —  280  397  13,660  280  —  13,940  12.00% Secured Debt (9) —  (16) 511  16,500  16  16  16,500  Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (5) —  —  —  193  —  —  193  Gamber-Johnson Holdings, LLC 11.19% SF+ 7.50% Secured Debt (5) —  —  4  —  400  —  400  11.19% SF+ 7.50% Secured Debt (5) —  10  534  17,632  1,110  —  18,742  Member Units (5) —  1,010  274  28,450  1,010  —  29,460  Member Units (5) —  —  —  99  —  23  76  GFG Group, LLC 8.00% Secured Debt (5) —  (7) 77  3,513  7  7  3,513  Preferred Member Units (5) —  —  35  2,740  —  —  2,740  Harris Preston Fund Investments LP Interests (HPEP 3, L.P.) (12) (8) —  (128) —  4,116  —  380  3,736  IG Investor, LLC 13.00% Secured Debt (12) (6) —  (1) 14  400  1  201  200  13.00% Secured Debt (6) —  (16) 295  8,766  16  216  8,566  Common Equity (6) —  180  —  7,010  180  —  7,190  Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  —  —  6,790  —  —  6,790  Integral Energy Services 11.42% SF+ 7.50% Secured Debt (8) —  (316) 425  14,071  15  316  13,770  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, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) 10.00% 10.00% Preferred Equity (8) —  —  8  490  8  —  498  Common Stock (8) —  (80) —  410  —  80  330  10.00% 10.00% Preferred Equity (8) —  —  —  480  —  —  480  Kickhaefer Manufacturing Company, LLC 11.50% Secured Debt (5) —  —  74  2,547  1  —  2,548  9.00% Secured Debt (5) —  —  22  970  —  3  967  Preferred Equity (5) —  300  —  4,290  300  —  4,590  Member Units (5) —  —  6  1,048  —  —  1,048  KMS, LLC 12.50% Secured Debt (5) —  27  52  1,433  33  —  1,466  12.50% Secured Debt (5) —  —  39  1,259  —  —  1,259  Preferred Equity (5) —  —  —  7,830  —  —  7,830  9.20% SF+ 5.50% Secured Debt (12) (5) —  45  19  (49) 1,678  —  1,629  Mills Fleet Farm Group, LLC Preferred Equity (5) —  (898) 224  10,134  224  898  9,460  9.81% SF+ 5.50% 9.81% Secured Debt (5) —  —  58  2,256  58  —  2,314  9.17% SF+ 5.50% 9.17% Secured Debt (5) —  —  32  1,344  32  —  1,376  Nello Industries Investco, LLC 12.50% Secured Debt (5) —  (156) 243  8,018  —  8,018  —  12.50% Secured Debt (5) —  51  204  —  10,318  —  10,318  Preferred Equity (5) —  1,560  69  5,830  1,560  —  7,390  NexRev LLC Preferred Member Units (8) —  (70) 6  3,210  —  70  3,140  NuStep, LLC 10.29% SF+ 6.50% Secured Debt (5) —  —  16  250  400  —  650  12.00% Secured Debt (5) —  —  143  4,610  —  68  4,542  Preferred Member Units (5) —  (320) —  3,050  —  320  2,730  Preferred Member Units (5) —  40  —  1,530  40  —  1,570  Oneliance, LLC Preferred Stock (7) —  —  3  810  —  —  810  Orttech Holdings, LLC SF+ 11.00% Secured Debt (5) —  (1) 5  153  1  154  —  14.79% SF+ 11.00% Secured Debt (5) —  (5) 197  5,190  5  5  5,190  Preferred Stock (5) —  —  15  3,360  —  —  3,360  Pinnacle TopCo, LLC Secured Debt (12) (8) —  —  1  —  —  —  —  13.00% Secured Debt (8) —  (11) 228  6,800  11  211  6,600  Preferred Equity (8) —  —  83  5,110  —  —  5,110  RA Outdoors LLC 10.56% SF+ 6.75% 10.56% Secured Debt (8) —  —  37  1,142  36  —  1,178  10.56% SF+ 6.75% 10.56% Secured Debt (8) —  (2) 384  11,937  385  2  12,320  10.59% SF+ 6.75% 10.59% Secured Debt (8) —  (77) —  —  449  77  372  10.59% SF+ 6.75% 10.59% Secured Debt (8) —  (75) —  —  438  75  363  Robbins Bros. Jewelry, Inc. Secured Debt (9) —  —  3  (12) —  1  (13) 12.50% 10.00% Secured Debt (9) —  25  —  1,559  —  7  1,552  Preferred Equity (9) —  —  —  —  —  —  —  SI East, LLC 11.80% Secured Debt (12) (7) —  —  24  750  —  —  750  12.86% Secured Debt (7) —  (3) 719  22,283  3  3  22,283  Preferred Member Units (7) —  —  90  5,730  —  —  5,730  Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  219  —  1,598  219  —  1,817  8.50% 8.50% Secured Debt (6) —  —  5  866  5  —  871  Tedder Industries, LLC 12.00% 12.00% Secured Debt (9) —  (21) 108  241  108  21  328  12.00% 12.00% Secured Debt (9) —  638  —  707  637  —  1,344  Preferred Member Units (9) —  —  —  —  —  —  —  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, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Trantech Radiator Topco, LLC 11.50% Secured Debt (7) —  —  1  —  400  —  400  13.50% Secured Debt (7) —  (18) 69  2,250  —  2,250  —  13.50% Secured Debt (7) —  164  43  —  7,820  —  7,820  Common Stock (7) —  889  —  3,730  1,230  —  4,960  Common Equity (7) —  —  —  174  —  —  174  9.00% Secured Debt (7) —  —  12  510  —  —  510  9.00% Secured Debt (7) —  2  1  —  500  —  500  9.00% Secured Debt (7) —  —  —  —  100  —  100  Urgent DSO LLC 13.50% Secured Debt (5) —  (50) 78  2,168  3  49  2,122  Preferred Equity (5) —  (450) —  1,089  —  449  640  Victory Energy Operations, LLC 13.00% Secured Debt (12) (8) —  —  7  127  274  69  332  13.00% Secured Debt (8) —  —  263  7,575  12  —  7,587  Preferred Equity (8) —  40  17  3,760  40  —  3,800  VVS Holdco LLC SF+ 6.00% Secured Debt (5) —  —  1  —  —  —  —  11.50% Secured Debt (5) —  —  182  5,967  9  —  5,976  Preferred Equity (5) —  —  —  3,060  —  —  3,060  Other Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  —  —  —  —  —  Total Affiliate investments $ (1,656) $ 8,423  $ 9,247  $ 406,771  $ 47,982  $ 28,135  $ 426,618  _________________________ (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, dividends and fees 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 March 31, 2026 for Affiliate investments located in this region was $158,958. This represented 22.1% of net assets as of March 31, 2026. (6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Affiliate investments located in this region was $32,369. This represented 4.5% of net assets as of March 31, 2026. (7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $6,371. This represented 0.9% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $52,766. This represented 7.3% of net assets as of March 31, 2026. (8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $46,901. This represented 6.5% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $125,314. This represented 17.4% of net assets as of March 31, 2026. (9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $530. This represented 0.1% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $57,211. This represented 8.0% of net assets as of March 31, 2026. (10)All of the Fund’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, 2026 (see Note I — Commitments and Contingencies). 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, 2024 Fair Value Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Control Investments BDB Holdings, LLC Preferred Equity (7) $ —  $ —  $ —  $ 12,610  $ —  $ —  $ 12,610  12.00% Secured Debt (12) (7) —  —  3  —  280  —  280  Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  —  —  530  —  16  514  GRT Rubber Technologies LLC 10.48% SF+ 6.00% Secured Debt (12) (8) —  (1) 42  1,550  1  1  1,550  12.48% SF+ 8.00% Secured Debt (8) —  (12) 632  19,944  12  12  19,944  Member Units (8) —  —  742  22,600  —  —  22,600  Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) —  (166) —  8,740  80  165  8,655  Volusion, LLC 10.00% Secured Debt (8) —  —  23  900  —  —  900  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) 9  (654) —  3,004  10  794  2,220  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 $ 9  $ (833) $ 1,442  $ 69,878  $ 383  $ 988  $ 69,273  Affiliate Investments American Nuts, LLC Preferred Equity (9) $ —  $ —  $ —  $ —  $ 2,556  $ —  $ 2,556  12.95% SF+ 8.50% 12.95% Secured Debt (9) —  —  3  —  2,111  —  2,111  12.95% SF+ 8.50% 12.95% Secured Debt (9) —  —  3  —  2,111  —  2,111  Analytical Systems Keco Holdings, LLC Secured Debt (8) —  —  —  —  —  —  —  17.50% Secured Debt (8) —  —  45  1,012  1  13  1,000  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) —  (40) —  1,330  —  40  1,290  Warrants (8) —  —  —  —  —  —  —  Barfly Ventures, LLC Member Units (5) —  (33) 368  1,953  —  33  1,920  Batjer TopCo, LLC 11.00% Secured Debt (12) (8) —  —  1  50  —  30  20  11.00% Secured Debt (12) (8) —  —  1  30  —  —  30  11.00% Secured Debt (8) —  —  32  1,165  1  —  1,166  Preferred Stock (8) —  —  21  570  —  —  570  Brewer Crane Holdings, LLC 14.48% SF+ 10.00% Secured Debt (9) —  —  45  1,254  —  —  1,254  Preferred Member Units (9) —  (140) 8  1,170  —  140  1,030  Centre Technologies Holdings, LLC SF+ 10.00% Secured Debt (12) (8) —  —  1  —  —  —  —  14.48% SF+ 10.00% Secured Debt (8) —  (3) 225  6,384  2  270  6,116  Preferred Member Units (8) —  460  8  3,110  460  —  3,570  Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  (6) 6  —  6  6  —  12.49% SF+ 8.00% Secured Debt (8) —  2  125  3,905  400  —  4,305  Member Units (8) —  280  698  8,280  280  —  8,560  Member Units (8) —  20  6  888  20  —  908  Charps, LLC Preferred Member Units (5) —  —  82  3,900  —  —  3,900  Clad-Rex Steel, LLC Secured Debt (12) (5) —  —  —  —  —  —  —  9.00% Secured Debt (5) —  —  40  1,690  —  60  1,630  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, 2024 Fair Value Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) 10.00% Secured Debt (5) —  —  6  243  —  2  241  Member Units (5) —  10  111  2,750  10  —  2,760  Member Units (5) —  80  —  237  80  —  317  Cody Pools, Inc. Secured Debt (12) (8) —  —  1  —  —  —  —  12.50% Secured Debt (8) —  (2) 203  6,598  2  273  6,327  Preferred Member Units (8) —  420  321  16,950  420  —  17,370  Colonial Electric Company LLC Secured Debt (12) (6) —  —  1  —  —  —  —  12.00% Secured Debt (6) —  (5) 110  3,578  5  84  3,499  Preferred Member Units (6) —  190  104  3,390  190  —  3,580  Compass Systems & Sales, LLC Secured Debt (5) —  —  1  (16) 1  —  (15) 13.50% Secured Debt (5) —  —  151  4,201  6  —  4,207  Preferred Equity (5) —  3  15  1,860  3  —  1,863  Datacom, LLC 7.50% Secured Debt (8) —  —  1  55  64  15  104  10.00% Secured Debt (8) —  —  27  878  6  8  876  Preferred Member Units (8) —  —  —  30  —  —  30  Digital Products Holdings LLC 14.38% SF+ 10.00% Secured Debt (5) —  —  113  3,105  4  83  3,026  Preferred Member Units (5) —  —  13  2,459  —  —  2,459  Direct Marketing Solutions, Inc. Secured Debt (9) —  —  1  —  —  —  —  14.00% Secured Debt (9) —  (3) 165  4,668  3  87  4,584  Preferred Stock (9) —  140  —  4,480  140  —  4,620  DMA Industries, LLC 12.00% Secured Debt (7) —  —  4  138  —  —  138  12.00% Secured Debt (7) —  —  128  4,161  2  —  4,163  Preferred Equity (7) —  —  —  1,486  —  —  1,486  15.00% 15.00% Preferred Equity (7) —  —  30  810  30  —  840  Flame King Holdings, LLC Preferred Equity (9) —  860  574  8,980  860  —  9,840  Freeport Financial Funds LP Interests (Freeport First Lien Loan Fund III LP) (5) —  —  —  1,263  —  965  298  Gamber-Johnson Holdings, LLC SF+ 7.50% Secured Debt (12) (5) —  —  —  —  —  —  —  11.50% SF+ 7.50% Secured Debt (12) (5) —  (10) 535  18,282  10  10  18,282  Member Units (5) —  —  414  28,690  —  —  28,690  GFG Group, LLC 8.00% Secured Debt (5) —  (3) 44  2,046  3  3  2,046  Preferred Member Units (5) —  (230) 109  2,640  —  230  2,410  Gulf Publishing Holdings, LLC SF+ 9.50% Secured Debt (8) —  —  —  —  —  —  —  12.50% 12.50% Secured Debt (8) —  80  —  378  56  —  434  Preferred Equity (8) —  —  —  —  —  —  —  Member Units (8) —  —  —  —  —  —  —  HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (12) (8) —  194  —  4,472  194  204  4,462  IG Investor, LLC 13.00% Secured Debt (12) (6) —  19  15  379  21  —  400  13.00% Secured Debt (6) —  168  300  8,693  183  110  8,766  Common Equity (6) —  390  —  4,060  390  —  4,450  Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  (200) —  7,290  —  200  7,090  Integral Energy Services 12.07% SF+ 7.50% Secured Debt (8) —  —  471  14,872  15  —  14,887  10.00% 10.00% Preferred Equity (8) —  —  7  535  7  —  542  Common Stock (8) —  —  —  640  —  —  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, 2024 Fair Value Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Kickhaefer Manufacturing Company, LLC 11.50% Secured Debt (5) —  —  107  3,741  2  200  3,543  9.00% Secured Debt (5) —  —  22  982  —  3  979  Preferred Equity (5) —  160  —  3,060  160  —  3,220  Member Units (5) —  —  7  678  —  —  678  KMS, LLC 14.50% SF+ 9.75% Secured Debt (5) (511) 409  —  829  —  829  —  14.50% SF+ 9.75% Secured Debt (5) (3,790) 3,202  —  5,973  —  5,973  —  SF+ 9.75% 14.23% Secured Debt (5) —  —  9  562  —  562  —  SF+ 9.75% 14.23% Secured Debt (5) —  —  9  550  —  550  —  14.23% SF+ 9.75% 14.23% Secured Debt (5) —  —  4  —  —  —  —  12.50% 12.50% Secured Debt (12) (5) —  —  26  —  1,343  —  1,343  12.50% 12.50% Secured Debt (5) —  —  25  —  1,430  —  1,430  Preferred Equity (5) —  —  —  —  6,113  —  6,113  Mills Fleet Farm Group, LLC Common Equity (5) —  (396) —  11,166  —  396  10,770  9.79% SF+ 5.50% Secured Debt (5) —  —  35  —  2,140  —  2,140  Mystic Logistics Holdings, LLC Secured Debt (12) (6) —  —  —  —  —  —  —  10.00% Secured Debt (6) —  —  36  1,436  —  —  1,436  Common Stock (6) —  —  236  6,590  —  —  6,590  Nello Industries Investco, LLC SF+ 6.50% Secured Debt (5) —  —  12  (12) 12  —  —  13.50% Secured Debt (5) —  —  240  6,619  10  —  6,629  Common Equity (5) —  230  43  3,890  230  —  4,120  NexRev LLC Secured Debt (8) —  —  —  —  —  —  —  Secured Debt (8) —  (3) 38  2,453  3  2,456  —  Preferred Member Units (8) —  380  103  2,970  380  —  3,350  NuStep, LLC 10.98% SF+ 6.50% Secured Debt (5) —  —  25  900  —  —  900  12.00% Secured Debt (5) —  —  139  4,610  —  —  4,610  Preferred Member Units (5) —  160  —  2,890  160  —  3,050  Preferred Member Units (5) —  —  —  1,500  —  —  1,500  Oneliance, LLC Preferred Stock (7) —  60  13  640  60  —  700  Orttech Holdings, LLC SF+ 11.00% Secured Debt (12) (5) —  —  —  —  —  —  —  15.48% SF+ 11.00% Secured Debt (5) —  (6) 215  5,490  6  106  5,390  Preferred Stock (5) —  —  15  3,360  —  —  3,360  Pinnacle TopCo, LLC Secured Debt (12) (8) —  —  1  —  —  —  —  13.00% Secured Debt (8) —  (9) 242  7,160  9  9  7,160  Preferred Equity (8) —  440  195  4,590  440  —  5,030  RA Outdoors LLC 11.25% SF+ 6.75% Secured Debt (8) —  (19) 38  1,215  1  57  1,159  11.25% SF+ 6.75% Secured Debt (8) —  (199) 394  12,710  10  599  12,121  Common Equity (8) —  —  —  —  —  —  —  Robbins Bros. Jewelry, Inc. 10.00% Secured Debt (9) —  —  —  (7) —  1  (8) 12.50% 10.00% Secured Debt (9) —  —  —  1,617  —  22  1,595  Preferred Equity (9) —  —  —  —  —  —  —  SI East, LLC 11.75% Secured Debt (12) (7) —  —  24  750  —  —  750  12.82% Secured Debt (7) —  (2) 724  22,554  2  2  22,554  Preferred Member Units (7) —  (400) —  4,550  —  400  4,150  Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  (827) —  1,826  —  826  1,000  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, 2024 Fair Value Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Preferred Equity (6) —  —  —  —  —  —  —  8.50% 8.50% Secured Debt (6) —  748  5  227  753  —  980  Tedder Industries, LLC 12.00% 12.00% Secured Debt (9) —  (23) —  412  —  23  389  12.00% 12.00% Secured Debt (9) —  (99) —  901  —  99  802  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Trantech Radiator Topco, LLC Secured Debt (12) (7) —  —  —  (1) —  —  (1) 13.50% Secured Debt (7) —  —  69  1,962  1  —  1,963  Common Stock (7) —  —  7  2,140  —  —  2,140  Urgent DSO LLC 13.50% Secured Debt (5) —  —  78  2,145  3  —  2,148  9.00% 9.00% Preferred Equity (5) —  —  24  1,080  24  —  1,104  Victory Energy Operations, LLC Secured Debt (8) —  —  1  (5) —  —  (5) 13.00% Secured Debt (8) —  —  263  7,529  11  —  7,540  Preferred Equity (8) —  —  19  3,644  —  —  3,644  VVS Holdco LLC SF+ 6.00% Secured Debt (12) (5) —  —  1  —  —  —  —  11.50% Secured Debt (5) —  —  195  6,366  9  —  6,375  Preferred Equity (5) —  —  25  3,060  —  —  3,060  Other Amounts related to investments transferred to or from other 1940 Act classification during the period 4,301  (3,611) (22) (7,914) —  —  —  Total Affiliate investments $ —  $ 2,836  $ 9,335  $ 351,360  $ 23,965  $ 15,979  $ 367,260  ___________________________________________________ (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, dividends and fees 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 March 31, 2025 for Affiliate investments located in this region was $146,496. This represented 20.4% of net assets as of March 31, 2025. (6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Affiliate investments located in this region was $37,791. This represented 5.3% of net assets as of March 31, 2025. (7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Affiliate investments located in this region was $38,883. This represented 5.4% of net assets as of March 31, 2025. (8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $55,869. This represented 7.8% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $113,206. This represented 15.7% of net assets as of March 31, 2025. (9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $514. This represented 0.1% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $30,884. This represented 4.3% of net assets as of March 31, 2025. (10)All of the Fund’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, 2025 (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.