Delaware
|
|
27-2326940
|
(State or other jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
Title of each class
|
Trading Symbol
|
Name of each exchange on which registered
|
Common Stock, par value $0.001 per share
|
GBDC
|
The Nasdaq Global Select Market
|
Large accelerated filer þ
|
Accelerated filer o
|
Non-accelerated filer o
|
Smaller reporting company o
|
Emerging growth company o
|
|
Part I. Financial Information
|
|
|
Item 1.
|
Financial Statements
|
|
|
Consolidated Statements of Financial Condition as of December 31, 2019 (unaudited) and September 30, 2019
|
|
|
Consolidated Statements of Operations for the three months ended December 31, 2019 (unaudited) and 2018 (unaudited)
|
|
|
Consolidated Statements of Changes in Net Assets for the three months ended December 31, 2019 (unaudited) and 2018 (unaudited)
|
|
|
Consolidated Statements of Cash Flows for the three months ended December 31, 2019 (unaudited) and 2018 (unaudited)
|
|
|
Consolidated Schedules of Investments as of December 31, 2019 (unaudited) and September 30, 2019
|
|
|
Notes to Consolidated Financial Statements (unaudited)
|
|
Item 2.
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
|
Item 3.
|
Quantitative and Qualitative Disclosures about Market Risk
|
|
Item 4.
|
Controls and Procedures
|
|
Part II. Other Information
|
|
|
Item 1.
|
Legal Proceedings
|
|
Item 1A.
|
Risk Factors
|
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
|
Item 3.
|
Defaults Upon Senior Securities
|
|
Item 4.
|
Mine Safety Disclosures
|
|
Item 5.
|
Other Information
|
|
Item 6.
|
Exhibits
|
|
December 31, 2019
|
|
September 30, 2019
|
||||
|
(unaudited)
|
|
|
||||
Assets
|
|
|
|
|
|
||
Investments, at fair value
|
|
|
|
|
|
||
Non-controlled/non-affiliate company investments
|
$
|
4,298,109
|
|
|
$
|
4,156,713
|
|
Non-controlled affiliate company investments
|
12,089
|
|
|
12,575
|
|
||
Controlled affiliate company investments
|
138,118
|
|
|
123,644
|
|
||
Total investments, at fair value (amortized cost of $4,530,938 and $4,391,770, respectively)
|
4,448,316
|
|
|
4,292,932
|
|
||
Cash and cash equivalents
|
18,914
|
|
|
6,463
|
|
||
Foreign currencies (cost of $512 and $54, respectively)
|
512
|
|
|
54
|
|
||
Restricted cash and cash equivalents
|
112,353
|
|
|
76,370
|
|
||
Restricted foreign currencies (cost of $1,444 and $1,321, respectively)
|
1,444
|
|
|
1,321
|
|
||
Cash collateral held at broker for forward currency contracts
|
1,200
|
|
|
600
|
|
||
Interest receivable
|
14,507
|
|
|
16,790
|
|
||
Other assets
|
223
|
|
|
333
|
|
||
Total Assets
|
$
|
4,597,469
|
|
|
$
|
4,394,863
|
|
Liabilities
|
|
|
|
|
|
||
Debt
|
$
|
2,264,823
|
|
|
$
|
2,124,392
|
|
Less unamortized debt issuance costs
|
5,430
|
|
|
4,939
|
|
||
Debt less unamortized debt issuance costs
|
2,259,393
|
|
|
2,119,453
|
|
||
Other short-term borrowings (proceeds of $64,769 and $0, respectively)
|
65,833
|
|
|
—
|
|
||
Unrealized depreciation on forward currency contracts
|
1,365
|
|
|
115
|
|
||
Interest payable
|
17,324
|
|
|
13,380
|
|
||
Management and incentive fees payable
|
20,896
|
|
|
12,884
|
|
||
Accounts payable and other liabilities
|
3,561
|
|
|
25,970
|
|
||
Accrued trustee fees
|
15
|
|
|
207
|
|
||
Total Liabilities
|
2,368,387
|
|
|
2,172,009
|
|
||
Commitments and Contingencies (Note 8)
|
|
|
|
|
|
||
Net Assets
|
|
|
|
|
|
||
Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2019 and September 30, 2019
|
—
|
|
|
—
|
|
||
Common stock, par value $0.001 per share, 200,000,000 shares authorized, 133,805,764 and 132,658,200 shares issued and outstanding as of December 31, 2019 and September 30, 2019, respectively
|
134
|
|
|
133
|
|
||
Paid in capital in excess of par
|
2,330,806
|
|
|
2,310,610
|
|
||
Distributable earnings
|
(101,858
|
)
|
|
(87,889
|
)
|
||
Total Net Assets
|
2,229,082
|
|
|
2,222,854
|
|
||
Total Liabilities and Total Net Assets
|
$
|
4,597,469
|
|
|
$
|
4,394,863
|
|
Number of common shares outstanding
|
133,805,764
|
|
|
132,658,200
|
|
||
Net asset value per common share
|
$
|
16.66
|
|
|
$
|
16.76
|
|
|
Three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
|
|
|
|
||||
Investment income
|
|
|
|
||||
From non-controlled/non-affiliate company investments:
|
|
|
|
||||
Interest income
|
$
|
75,859
|
|
|
$
|
38,677
|
|
Dividend income
|
34
|
|
|
39
|
|
||
Fee income
|
215
|
|
|
522
|
|
||
Total investment income from non-controlled/non-affiliate company investments
|
76,108
|
|
|
39,238
|
|
||
From non-controlled affiliate company investments:
|
|
|
|
||||
Interest income
|
244
|
|
|
173
|
|
||
From controlled affiliate company investments:
|
|
|
|
||||
Interest income
|
350
|
|
|
—
|
|
||
Dividend income
|
1,905
|
|
|
—
|
|
||
Total investment income from controlled affiliate company investments
|
2,255
|
|
|
—
|
|
||
Total investment income
|
78,607
|
|
|
39,411
|
|
||
Expenses
|
|
|
|
||||
Interest and other debt financing expenses
|
22,278
|
|
|
9,784
|
|
||
Base management fee
|
15,206
|
|
|
6,439
|
|
||
Incentive fee
|
5,904
|
|
|
1,983
|
|
||
Professional fees
|
939
|
|
|
588
|
|
||
Administrative service fee
|
1,402
|
|
|
699
|
|
||
General and administrative expenses
|
147
|
|
|
101
|
|
||
Total expenses
|
45,876
|
|
|
19,594
|
|
||
Net investment income
|
32,731
|
|
|
19,817
|
|
||
Net gain (loss) on investment transactions
|
|
|
|
||||
Net realized gain (loss) from:
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
2,656
|
|
|
(1,948
|
)
|
||
Foreign currency transactions
|
(155
|
)
|
|
(30
|
)
|
||
Net realized gain (loss) on investment transactions
|
2,501
|
|
|
(1,978
|
)
|
||
Net change in unrealized appreciation (depreciation) from:
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
17,472
|
|
|
261
|
|
||
Non-controlled affiliate company investments
|
(427
|
)
|
|
82
|
|
||
Controlled affiliate company investments
|
(829
|
)
|
|
106
|
|
||
Translation of assets and liabilities in foreign currencies
|
(3,150
|
)
|
|
151
|
|
||
Forward currency contracts
|
(1,250
|
)
|
|
—
|
|
||
Net change in unrealized appreciation (depreciation) on investment transactions
|
11,816
|
|
|
600
|
|
||
Net gain (loss) on investment transactions
|
14,317
|
|
|
(1,378
|
)
|
||
Net increase (decrease) in net assets resulting from operations
|
$
|
47,048
|
|
|
$
|
18,439
|
|
Per Common Share Data
|
|
|
|
||||
Basic and diluted earnings (deficit) per common share
|
$
|
0.35
|
|
|
$
|
0.31
|
|
Dividends and distributions declared per common share
|
$
|
0.46
|
|
|
$
|
0.44
|
|
Basic and diluted weighted average common shares outstanding
|
132,683,147
|
|
|
60,176,619
|
|
|
Common Stock
|
|
Paid in Capital in Excess of Par
|
|
Distributable Earnings
|
|
Total Net Assets
|
|||||||||||
|
Shares
|
|
Par Amount
|
|
|
|
||||||||||||
Balance at September 30, 2018
|
60,165,454
|
|
|
$
|
60
|
|
|
$
|
949,547
|
|
|
$
|
19,247
|
|
|
968,854
|
|
|
Net increase in net assets resulting from operations:
|
|
|
|
|
|
|
|
|
|
|||||||||
Net investment income
|
—
|
|
|
—
|
|
|
—
|
|
|
19,817
|
|
|
19,817
|
|
||||
Net realized gain (loss) on investment transactions
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,978
|
)
|
|
(1,978
|
)
|
||||
Net change in unrealized appreciation (depreciation) on investment transactions
|
—
|
|
|
—
|
|
|
—
|
|
|
600
|
|
|
600
|
|
||||
Distributions to stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Stock issued in connection with dividend reinvestment plan
|
256,785
|
|
|
—
|
|
|
4,134
|
|
|
—
|
|
|
4,134
|
|
||||
Distributions from distributable earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
(26,473
|
)
|
|
(26,473
|
)
|
||||
Total increase (decrease) for the period ended December 31, 2018
|
256,785
|
|
|
—
|
|
|
4,134
|
|
|
(8,034
|
)
|
|
(3,900
|
)
|
||||
Balance at December 31, 2018
|
60,422,239
|
|
|
$
|
60
|
|
|
$
|
953,681
|
|
|
$
|
11,213
|
|
|
$
|
964,954
|
|
Balance at September 30, 2019
|
132,658,200
|
|
|
$
|
133
|
|
|
$
|
2,310,610
|
|
|
$
|
(87,889
|
)
|
|
$
|
2,222,854
|
|
Net increase (decrease) in net assets resulting from operations:
|
|
|
|
|
|
|
|
|
|
|||||||||
Net investment income
|
—
|
|
|
—
|
|
|
—
|
|
|
32,731
|
|
|
32,731
|
|
||||
Net realized gain (loss) on investment transactions
|
—
|
|
|
—
|
|
|
—
|
|
|
2,501
|
|
|
2,501
|
|
||||
Net change in unrealized appreciation (depreciation) on investment transactions
|
—
|
|
|
—
|
|
|
—
|
|
|
11,816
|
|
|
11,816
|
|
||||
Distributions to stockholders:
|
|
|
|
|
|
|
|
|
|
|
||||||||
Stock issued in connection with dividend reinvestment plan
|
1,147,564
|
|
|
1
|
|
|
20,196
|
|
|
—
|
|
|
20,197
|
|
||||
Distributions from distributable earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
(61,017
|
)
|
|
(61,017
|
)
|
||||
Total increase (decrease) for the period ended December 31, 2019
|
1,147,564
|
|
|
1
|
|
|
20,196
|
|
|
(13,969
|
)
|
|
6,228
|
|
||||
Balance at December 31, 2019
|
133,805,764
|
|
|
$
|
134
|
|
|
$
|
2,330,806
|
|
|
$
|
(101,858
|
)
|
|
$
|
2,229,082
|
|
|
Three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Cash flows from operating activities
|
|
|
|
|
|
||
Net increase (decrease) in net assets resulting from operations
|
47,048
|
|
|
18,439
|
|
||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations
to net cash (used in) provided by operating activities: |
|
|
|
||||
Amortization of deferred debt issuance costs
|
571
|
|
|
669
|
|
||
Accretion of discounts and amortization of premiums
|
7,869
|
|
|
(1,953
|
)
|
||
Net realized (gain) loss on investments
|
(2,656
|
)
|
|
1,948
|
|
||
Net change in unrealized (appreciation) depreciation on investments
|
(16,216
|
)
|
|
(449
|
)
|
||
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies
|
3,180
|
|
|
(151
|
)
|
||
Net change in unrealized (appreciation) depreciation on forward currency contracts
|
1,250
|
|
|
—
|
|
||
Proceeds from (fundings of) revolving loans, net
|
(239
|
)
|
|
(2,531
|
)
|
||
Fundings of investments
|
(296,814
|
)
|
|
(195,731
|
)
|
||
Proceeds from principal payments and sales of portfolio investments
|
154,305
|
|
|
63,621
|
|
||
PIK interest
|
(1,633
|
)
|
|
(543
|
)
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Interest receivable
|
2,283
|
|
|
315
|
|
||
Cash collateral held at broker for forward currency contracts
|
(600
|
)
|
|
—
|
|
||
Other assets
|
110
|
|
|
(932
|
)
|
||
Interest payable
|
3,944
|
|
|
2,993
|
|
||
Management and incentive fees payable
|
8,012
|
|
|
(2,177
|
)
|
||
Accounts payable and other liabilities
|
(22,409
|
)
|
|
387
|
|
||
Accrued trustee fees
|
(192
|
)
|
|
(4
|
)
|
||
Net cash (used in) provided by operating activities
|
(112,187
|
)
|
|
(116,099
|
)
|
||
Cash flows from financing activities
|
|
|
|
|
|
||
Borrowings on debt
|
332,261
|
|
|
782,122
|
|
||
Repayments of debt
|
(193,946
|
)
|
|
(655,872
|
)
|
||
Capitalized debt issuance costs
|
(1,062
|
)
|
|
(1,531
|
)
|
||
Proceeds from other short-term borrowings
|
64,769
|
|
|
21,719
|
|
||
Distributions paid
|
(40,820
|
)
|
|
(22,339
|
)
|
||
Net cash provided by (used in) financing activities
|
161,202
|
|
|
124,099
|
|
||
Net change in cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies
|
49,015
|
|
|
8,000
|
|
||
Cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies, beginning of period
|
84,208
|
|
|
45,705
|
|
||
Cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies, end of period
|
$
|
133,223
|
|
|
$
|
53,705
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
||
Cash paid during the period for interest
|
$
|
17,763
|
|
|
$
|
6,121
|
|
Distributions declared during the period
|
61,017
|
|
|
26,473
|
|
||
Supplemental disclosure of non-cash operating and financing activities:
|
|
|
|
||||
Stock issued in connection with dividend reinvestment plan
|
20,197
|
|
|
4,134
|
|
|
As of December 31,
|
||||||
|
2019
|
|
2018
|
||||
Cash and cash equivalents
|
$
|
18,914
|
|
|
$
|
12,706
|
|
Foreign currencies (cost of $512 and $296, respectively)
|
512
|
|
|
296
|
|
||
Restricted cash and cash equivalents
|
112,353
|
|
|
40,703
|
|
||
Restricted foreign currencies (cost of $1,444 and $0, respectively)
|
1,444
|
|
|
—
|
|
||
Total cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies shown in the Consolidated Statements of Cash Flows
|
$
|
133,223
|
|
|
$
|
53,705
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
ILC Dover, LP#+!~
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
12/2023
|
|
$
|
6,600
|
|
|
$
|
6,568
|
|
|
0.3
|
|
%
|
$
|
6,600
|
|
|
NTS Technical Systems^*#+!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.94%
|
|
06/2021
|
|
25,584
|
|
|
25,550
|
|
|
1.1
|
|
|
25,584
|
|
||||
NTS Technical Systems#+!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.94%
|
|
06/2021
|
|
4,199
|
|
|
4,192
|
|
|
0.2
|
|
|
4,199
|
|
||||
NTS Technical Systems(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
06/2021
|
|
—
|
|
|
(34
|
)
|
|
—
|
|
|
—
|
|
||||
Tronair Parent, Inc.^+
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.93%
|
|
09/2023
|
|
726
|
|
|
717
|
|
|
—
|
|
|
681
|
|
||||
Tronair Parent, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)(f)
|
|
6.68%
|
|
09/2021
|
|
160
|
|
|
158
|
|
|
—
|
|
|
148
|
|
||||
Whitcraft LLC^*+
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
04/2023
|
|
41,993
|
|
|
42,925
|
|
|
1.9
|
|
|
41,993
|
|
||||
Whitcraft LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
04/2023
|
|
8,280
|
|
|
8,210
|
|
|
0.4
|
|
|
8,280
|
|
||||
Whitcraft LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
04/2023
|
|
4,527
|
|
|
4,524
|
|
|
0.2
|
|
|
4,527
|
|
||||
Whitcraft LLC+
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
04/2023
|
|
1,000
|
|
|
990
|
|
|
0.1
|
|
|
1,000
|
|
||||
Whitcraft LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
04/2023
|
|
70
|
|
|
69
|
|
|
—
|
|
|
70
|
|
||||
|
|
|
|
|
|
|
|
|
|
93,139
|
|
|
93,869
|
|
|
4.2
|
|
|
93,082
|
|
||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Dent Wizard International Corporation#+!~
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
5.80%
|
|
04/2022
|
|
12,307
|
|
|
12,452
|
|
|
0.6
|
|
|
12,307
|
|
||||
Grease Monkey International, LLC^*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2022
|
|
7,814
|
|
|
7,904
|
|
|
0.3
|
|
|
7,735
|
|
||||
Grease Monkey International, LLC#!~
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2022
|
|
2,388
|
|
|
2,480
|
|
|
0.1
|
|
|
2,364
|
|
||||
Grease Monkey International, LLC#!~
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2022
|
|
1,212
|
|
|
1,260
|
|
|
0.1
|
|
|
1,200
|
|
||||
Grease Monkey International, LLC#+!~
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2022
|
|
1,097
|
|
|
1,138
|
|
|
0.1
|
|
|
1,086
|
|
||||
Grease Monkey International, LLC
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2022
|
|
685
|
|
|
688
|
|
|
—
|
|
|
675
|
|
||||
Grease Monkey International, LLC
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2022
|
|
110
|
|
|
111
|
|
|
—
|
|
|
108
|
|
||||
JHCC Holdings LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.21%
|
|
09/2025
|
|
15,749
|
|
|
15,450
|
|
|
0.7
|
|
|
15,749
|
|
||||
JHCC Holdings LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
09/2025
|
|
36
|
|
|
35
|
|
|
—
|
|
|
36
|
|
||||
JHCC Holdings LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
09/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Polk Acquisition Corp.*
|
Senior loan
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2022
|
|
5,171
|
|
|
5,282
|
|
|
0.2
|
|
|
5,015
|
|
||||
Polk Acquisition Corp.
|
Senior loan
|
|
L + 5.25%
|
(a)(f)
|
|
7.09%
|
|
06/2022
|
|
32
|
|
|
31
|
|
|
—
|
|
|
30
|
|
||||
Power Stop, LLC#+!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.44%
|
|
10/2025
|
|
2,864
|
|
|
2,925
|
|
|
0.1
|
|
|
2,864
|
|
||||
Quick Quack Car Wash Holdings, LLC*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
04/2023
|
|
13,184
|
|
|
13,303
|
|
|
0.6
|
|
|
13,184
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.25%
|
|
04/2023
|
|
2,379
|
|
|
2,355
|
|
|
0.1
|
|
|
2,379
|
|
||||
Quick Quack Car Wash Holdings, LLC*+
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
04/2023
|
|
2,078
|
|
|
2,158
|
|
|
0.1
|
|
|
2,078
|
|
||||
Quick Quack Car Wash Holdings, LLC*+
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
04/2023
|
|
1,389
|
|
|
1,442
|
|
|
0.1
|
|
|
1,389
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.19%
|
|
04/2023
|
|
281
|
|
|
351
|
|
|
—
|
|
|
281
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
04/2023
|
|
80
|
|
|
82
|
|
|
—
|
|
|
80
|
|
||||
|
|
|
|
|
|
|
|
|
|
68,856
|
|
|
69,444
|
|
|
3.1
|
|
|
68,560
|
|
||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Abita Brewing Co., L.L.C.+
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.41%
|
|
04/2021
|
|
9,983
|
|
|
10,041
|
|
|
0.5
|
|
|
9,983
|
|
||||
Abita Brewing Co., L.L.C.(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
BJH Holdings III Corp.#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
08/2025
|
|
46,284
|
|
|
47,818
|
|
|
2.1
|
|
|
46,284
|
|
||||
BJH Holdings III Corp.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
08/2025
|
|
360
|
|
|
352
|
|
|
—
|
|
|
360
|
|
||||
C. J. Foods, Inc.^*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2020
|
|
29,104
|
|
|
29,645
|
|
|
1.3
|
|
|
29,104
|
|
||||
C. J. Foods, Inc.^
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2020
|
|
2,201
|
|
|
2,243
|
|
|
0.1
|
|
|
2,201
|
|
||||
C. J. Foods, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
05/2020
|
|
—
|
|
|
27
|
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Beverage, Food and Tobacco - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Cafe Rio Holding, Inc.^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
$
|
18,754
|
|
|
$
|
19,000
|
|
|
0.9
|
|
%
|
$
|
18,754
|
|
|
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
2,265
|
|
|
2,355
|
|
|
0.1
|
|
|
2,265
|
|
||||
Cafe Rio Holding, Inc.*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
1,438
|
|
|
1,495
|
|
|
0.1
|
|
|
1,438
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
1,269
|
|
|
1,320
|
|
|
0.1
|
|
|
1,269
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
334
|
|
|
331
|
|
|
—
|
|
|
334
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
182
|
|
|
182
|
|
|
—
|
|
|
182
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
P + 4.75%
|
(f)
|
|
9.50%
|
|
09/2023
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
||||
Fintech Midco, LLC*
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
08/2024
|
|
24,598
|
|
|
25,009
|
|
|
1.1
|
|
|
24,598
|
|
||||
Fintech Midco, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
08/2024
|
|
1,139
|
|
|
1,185
|
|
|
0.1
|
|
|
1,139
|
|
||||
Fintech Midco, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Fintech Midco, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Flavor Producers, LLC#!~
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.71%
|
|
12/2023
|
|
5,019
|
|
|
4,898
|
|
|
0.2
|
|
|
4,617
|
|
||||
Flavor Producers, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.68%
|
|
12/2022
|
|
30
|
|
|
25
|
|
|
—
|
|
|
20
|
|
||||
FWR Holding Corporation^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
08/2023
|
|
9,179
|
|
|
9,302
|
|
|
0.4
|
|
|
9,179
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
08/2023
|
|
1,834
|
|
|
1,907
|
|
|
0.1
|
|
|
1,834
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
08/2023
|
|
1,160
|
|
|
1,205
|
|
|
0.1
|
|
|
1,160
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
08/2023
|
|
368
|
|
|
379
|
|
|
—
|
|
|
368
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
08/2023
|
|
275
|
|
|
283
|
|
|
—
|
|
|
275
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
08/2023
|
|
114
|
|
|
113
|
|
|
—
|
|
|
114
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
FWR Holding Corporation(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Global ID Corporation*#+!~
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
11/2021
|
|
14,359
|
|
|
14,538
|
|
|
0.7
|
|
|
14,359
|
|
||||
Global ID Corporation*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
11/2021
|
|
819
|
|
|
848
|
|
|
—
|
|
|
819
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
11/2021
|
|
716
|
|
|
741
|
|
|
—
|
|
|
716
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
11/2021
|
|
492
|
|
|
509
|
|
|
—
|
|
|
492
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
11/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
11/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Mendocino Farms, LLC
|
One stop
|
|
L + 8.50%
|
(a)
|
|
2.80% cash/7.50% PIK
|
|
06/2023
|
|
780
|
|
|
810
|
|
|
—
|
|
|
772
|
|
||||
Mendocino Farms, LLC
|
One stop
|
|
L + 8.50%
|
(a)
|
|
2.80% cash/7.50% PIK
|
|
06/2023
|
|
613
|
|
|
637
|
|
|
—
|
|
|
607
|
|
||||
Mendocino Farms, LLC
|
One stop
|
|
L + 8.50%
|
(a)
|
|
2.80% cash/7.50% PIK
|
|
06/2023
|
|
602
|
|
|
598
|
|
|
—
|
|
|
596
|
|
||||
Mendocino Farms, LLC
|
One stop
|
|
L + 1.00%
|
(a)
|
|
2.79% cash/7.50% PIK
|
|
06/2023
|
|
296
|
|
|
294
|
|
|
—
|
|
|
293
|
|
||||
Mendocino Farms, LLC(5)
|
One stop
|
|
L + 1.00%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
||||
Mendocino Farms, LLC(5)
|
One stop
|
|
L + 1.00%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(4
|
)
|
||||
Mid-America Pet Food, L.L.C.^*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
12/2021
|
|
22,457
|
|
|
22,881
|
|
|
1.0
|
|
|
22,457
|
|
||||
Mid-America Pet Food, L.L.C.
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
NBC Intermediate, LLC#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)(c)
|
|
6.24%
|
|
09/2023
|
|
2,359
|
|
|
2,393
|
|
|
0.1
|
|
|
2,359
|
|
||||
NBC Intermediate, LLC*
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.45%
|
|
09/2023
|
|
2,309
|
|
|
2,343
|
|
|
0.1
|
|
|
2,309
|
|
||||
NBC Intermediate, LLC^
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.45%
|
|
09/2023
|
|
2,024
|
|
|
2,011
|
|
|
0.1
|
|
|
2,024
|
|
||||
NBC Intermediate, LLC+
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
09/2023
|
|
1,000
|
|
|
990
|
|
|
0.1
|
|
|
1,000
|
|
||||
NBC Intermediate, LLC
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
09/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
16,151
|
|
|
16,387
|
|
|
0.7
|
|
|
16,151
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
541
|
|
|
559
|
|
|
—
|
|
|
541
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
390
|
|
|
404
|
|
|
—
|
|
|
390
|
|
||||
Purfoods, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
295
|
|
|
305
|
|
|
—
|
|
|
295
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Beverage, Food and Tobacco - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Purfoods, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
$
|
295
|
|
|
$
|
305
|
|
|
—
|
|
%
|
$
|
295
|
|
|
Purfoods, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
294
|
|
|
303
|
|
|
—
|
|
|
294
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
253
|
|
|
256
|
|
|
—
|
|
|
253
|
|
||||
Purfoods, LLC
|
One stop
|
|
N/A
|
|
|
7.00% PIK
|
|
05/2026
|
|
241
|
|
|
246
|
|
|
—
|
|
|
241
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.24%
|
|
05/2021
|
|
150
|
|
|
151
|
|
|
—
|
|
|
150
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
148
|
|
|
153
|
|
|
—
|
|
|
148
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
48
|
|
|
47
|
|
|
—
|
|
|
48
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
28
|
|
|
28
|
|
|
—
|
|
|
28
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
22
|
|
|
22
|
|
|
—
|
|
|
22
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
22
|
|
|
22
|
|
|
—
|
|
|
22
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2021
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
Rubio's Restaurants, Inc.^*
|
Senior loan
|
|
L + 11.50%
|
(c)
|
|
9.46% cash/4.00% PIK
|
|
04/2021
|
|
11,390
|
|
|
11,212
|
|
|
0.5
|
|
|
11,497
|
|
||||
Rubio's Restaurants, Inc.
|
Senior loan
|
|
L + 11.50%
|
(a)(f)
|
|
9.93% cash/4.00% PIK
|
|
04/2021
|
|
160
|
|
|
157
|
|
|
—
|
|
|
162
|
|
||||
SSRG Holdings, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
11/2025
|
|
925
|
|
|
907
|
|
|
—
|
|
|
916
|
|
||||
SSRG Holdings, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
11/2025
|
|
35
|
|
|
34
|
|
|
—
|
|
|
34
|
|
||||
Wood Fired Holding Corp.*
|
One stop
|
|
L + 5.75%
|
(d)
|
|
7.67%
|
|
12/2023
|
|
14,108
|
|
|
14,364
|
|
|
0.6
|
|
|
14,108
|
|
||||
Wood Fired Holding Corp.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Wood Fired Holding Corp.
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
250,342
|
|
|
254,692
|
|
|
11.1
|
|
|
249,998
|
|
||||
Broadcasting and Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TouchTunes Interactive Networks, Inc.^+
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
05/2021
|
|
2,102
|
|
|
2,127
|
|
|
0.1
|
|
|
2,102
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Buildings and Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brooks Equipment Company, LLC^*
|
One stop
|
|
L + 5.00%
|
(b)(c)
|
|
6.91%
|
|
08/2020
|
|
26,097
|
|
|
26,243
|
|
|
1.2
|
|
|
26,097
|
|
||||
Brooks Equipment Company, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2020
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Jensen Hughes, Inc.
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.30%
|
|
03/2024
|
|
1,013
|
|
|
1,052
|
|
|
0.1
|
|
|
1,013
|
|
||||
Jensen Hughes, Inc.+
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.30%
|
|
03/2024
|
|
921
|
|
|
937
|
|
|
—
|
|
|
921
|
|
||||
Jensen Hughes, Inc.
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.30%
|
|
03/2024
|
|
442
|
|
|
459
|
|
|
—
|
|
|
442
|
|
||||
Jensen Hughes, Inc.+
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.30%
|
|
03/2024
|
|
281
|
|
|
286
|
|
|
—
|
|
|
281
|
|
||||
MRI Software LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
41,789
|
|
|
42,186
|
|
|
1.9
|
|
|
41,789
|
|
||||
MRI Software LLC^*+
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
30,613
|
|
|
31,240
|
|
|
1.4
|
|
|
30,613
|
|
||||
MRI Software LLC#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
7,582
|
|
|
7,798
|
|
|
0.3
|
|
|
7,582
|
|
||||
MRI Software LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
6,544
|
|
|
6,805
|
|
|
0.3
|
|
|
6,544
|
|
||||
MRI Software LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
4,592
|
|
|
4,769
|
|
|
0.2
|
|
|
4,592
|
|
||||
MRI Software LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
3,223
|
|
|
3,352
|
|
|
0.1
|
|
|
3,223
|
|
||||
MRI Software LLC#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
2,063
|
|
|
2,146
|
|
|
0.1
|
|
|
2,063
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
1,494
|
|
|
1,491
|
|
|
0.1
|
|
|
1,494
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
1,204
|
|
|
1,250
|
|
|
0.1
|
|
|
1,204
|
|
||||
MRI Software LLC+
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
906
|
|
|
897
|
|
|
—
|
|
|
906
|
|
||||
MRI Software LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
694
|
|
|
706
|
|
|
—
|
|
|
694
|
|
||||
MRI Software LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
292
|
|
|
289
|
|
|
—
|
|
|
292
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Buildings and Real Estate - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
MRI Software LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
$
|
291
|
|
|
$
|
289
|
|
|
—
|
|
%
|
$
|
291
|
|
|
MRI Software LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
192
|
|
|
190
|
|
|
—
|
|
|
192
|
|
||||
MRI Software LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
06/2023
|
|
96
|
|
|
96
|
|
|
—
|
|
|
96
|
|
||||
MRI Software LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Paradigm DKD Group, LLC+(7)
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.16%
|
|
05/2022
|
|
1,654
|
|
|
1,186
|
|
|
0.1
|
|
|
1,036
|
|
||||
Paradigm DKD Group, LLC(5)(7)
|
Senior loan
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
05/2022
|
|
—
|
|
|
(64
|
)
|
|
—
|
|
|
(85
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
131,983
|
|
|
133,599
|
|
|
5.9
|
|
|
131,280
|
|
||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Flexan, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
02/2020
|
|
3,298
|
|
|
3,308
|
|
|
0.1
|
|
|
3,298
|
|
||||
Flexan, LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
02/2020
|
|
1,552
|
|
|
1,557
|
|
|
0.1
|
|
|
1,552
|
|
||||
Flexan, LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
02/2020
|
|
12
|
|
|
13
|
|
|
—
|
|
|
12
|
|
||||
Inhance Technologies Holdings LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
07/2024
|
|
12,799
|
|
|
12,941
|
|
|
0.6
|
|
|
12,799
|
|
||||
Inhance Technologies Holdings LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
07/2024
|
|
853
|
|
|
887
|
|
|
—
|
|
|
853
|
|
||||
Inhance Technologies Holdings LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
07/2024
|
|
140
|
|
|
140
|
|
|
—
|
|
|
140
|
|
||||
|
|
|
|
|
|
|
|
|
|
18,654
|
|
|
18,846
|
|
|
0.8
|
|
|
18,654
|
|
||||
Containers, Packaging and Glass
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
AmerCareRoyal LLC+
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2025
|
|
847
|
|
|
839
|
|
|
—
|
|
|
838
|
|
||||
AmerCareRoyal LLC+
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
11/2025
|
|
153
|
|
|
152
|
|
|
—
|
|
|
151
|
|
||||
|
|
|
|
|
|
|
|
|
|
1,000
|
|
|
991
|
|
|
—
|
|
|
989
|
|
||||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Blackbird Purchaser, Inc. #+!~
|
Senior loan
|
|
L + 4.50%
|
(c)(f)
|
|
6.44%
|
|
04/2026
|
|
13,116
|
|
|
13,448
|
|
|
0.6
|
|
|
13,116
|
|
||||
Blackbird Purchaser, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)(f)
|
|
6.44%
|
|
04/2026
|
|
597
|
|
|
617
|
|
|
—
|
|
|
597
|
|
||||
Blackbird Purchaser, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.44%
|
|
04/2024
|
|
88
|
|
|
86
|
|
|
—
|
|
|
88
|
|
||||
Chase Industries, Inc.#+!~
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
5.94% cash/1.50% PIK
|
|
05/2025
|
|
12,100
|
|
|
12,241
|
|
|
0.5
|
|
|
11,616
|
|
||||
Chase Industries, Inc.
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
5.94% cash/1.50% PIK
|
|
05/2025
|
|
989
|
|
|
1,029
|
|
|
—
|
|
|
950
|
|
||||
Chase Industries, Inc.
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
5.94% cash/1.50% PIK
|
|
05/2023
|
|
226
|
|
|
230
|
|
|
—
|
|
|
214
|
|
||||
Inventus Power, Inc.^*+
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
04/2021
|
|
14,449
|
|
|
13,882
|
|
|
0.6
|
|
|
14,160
|
|
||||
Inventus Power, Inc.
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.29%
|
|
04/2021
|
|
555
|
|
|
525
|
|
|
—
|
|
|
539
|
|
||||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc#+!~
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
5.80%
|
|
07/2025
|
|
13,667
|
|
|
13,926
|
|
|
0.6
|
|
|
13,667
|
|
||||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc
|
Senior loan
|
|
L + 4.00%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
PetroChoice Holdings, Inc.^
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.93%
|
|
08/2022
|
|
3,301
|
|
|
3,310
|
|
|
0.1
|
|
|
3,152
|
|
||||
Protective Industrial Products, Inc.+
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
01/2024
|
|
1,000
|
|
|
990
|
|
|
—
|
|
|
990
|
|
||||
Reladyne, Inc.^*
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
27,225
|
|
|
27,534
|
|
|
1.2
|
|
|
27,225
|
|
||||
Reladyne, Inc.#!~
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
2,360
|
|
|
2,443
|
|
|
0.1
|
|
|
2,360
|
|
||||
Reladyne, Inc.
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
1,732
|
|
|
1,798
|
|
|
0.1
|
|
|
1,732
|
|
||||
Reladyne, Inc.
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
1,557
|
|
|
1,616
|
|
|
0.1
|
|
|
1,557
|
|
||||
Reladyne, Inc.^
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
1,281
|
|
|
1,325
|
|
|
0.1
|
|
|
1,281
|
|
||||
Reladyne, Inc.#!~
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
1,102
|
|
|
1,140
|
|
|
0.1
|
|
|
1,102
|
|
||||
Reladyne, Inc.#!~
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
07/2022
|
|
502
|
|
|
520
|
|
|
—
|
|
|
502
|
|
||||
Togetherwork Holdings, LLC*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
15,684
|
|
|
15,850
|
|
|
0.7
|
|
|
15,684
|
|
||||
Togetherwork Holdings, LLC#+!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
1,817
|
|
|
1,889
|
|
|
0.1
|
|
|
1,817
|
|
||||
Togetherwork Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
1,764
|
|
|
1,830
|
|
|
0.1
|
|
|
1,764
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Manufacturing - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Togetherwork Holdings, LLC*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
$
|
1,719
|
|
|
$
|
1,788
|
|
|
0.1
|
|
%
|
$
|
1,719
|
|
|
Togetherwork Holdings, LLC#+!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
1,661
|
|
|
1,697
|
|
|
0.1
|
|
|
1,661
|
|
||||
Togetherwork Holdings, LLC*+
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
1,600
|
|
|
1,664
|
|
|
0.1
|
|
|
1,600
|
|
||||
Togetherwork Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
1,493
|
|
|
1,548
|
|
|
0.1
|
|
|
1,493
|
|
||||
Togetherwork Holdings, LLC*
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
1,222
|
|
|
1,243
|
|
|
0.1
|
|
|
1,222
|
|
||||
Togetherwork Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
673
|
|
|
699
|
|
|
—
|
|
|
673
|
|
||||
Togetherwork Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
65
|
|
|
67
|
|
|
—
|
|
|
65
|
|
||||
Togetherwork Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
7.95%
|
|
03/2024
|
|
60
|
|
|
58
|
|
|
—
|
|
|
60
|
|
||||
Togetherwork Holdings, LLC#!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
03/2025
|
|
60
|
|
|
62
|
|
|
—
|
|
|
60
|
|
||||
|
|
|
|
|
|
|
|
|
|
123,665
|
|
|
125,055
|
|
|
5.5
|
|
|
122,666
|
|
||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
3ES Innovation, Inc.#+!~(8)(12)
|
One stop
|
|
L + 5.75%
|
(c)(d)
|
|
7.81%
|
|
05/2025
|
|
13,865
|
|
|
14,148
|
|
|
0.6
|
|
|
13,865
|
|
||||
3ES Innovation, Inc.(5)(8)(12)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Accela, Inc.*
|
One stop
|
|
L + 4.89%
|
(a)
|
|
5.04% cash/1.64% PIK
|
|
09/2023
|
|
4,421
|
|
|
4,421
|
|
|
0.2
|
|
|
4,421
|
|
||||
Accela, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
09/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Acquia, Inc.#!~
|
One stop
|
|
L + 7.00%
|
(c)
|
|
8.91%
|
|
10/2025
|
|
7,118
|
|
|
7,048
|
|
|
0.3
|
|
|
7,047
|
|
||||
Acquia, Inc.(5)
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
10/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Agility Recovery Solutions Inc.^*
|
One stop
|
|
L + 6.00%
|
(e)
|
|
8.02%
|
|
03/2023
|
|
22,649
|
|
|
22,804
|
|
|
1.0
|
|
|
22,649
|
|
||||
Agility Recovery Solutions Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
03/2023
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Apptio, Inc. #!~
|
One stop
|
|
L + 7.25%
|
(a)
|
|
8.96%
|
|
01/2025
|
|
57,009
|
|
|
57,846
|
|
|
2.6
|
|
|
57,009
|
|
||||
Apptio, Inc. (5)
|
One stop
|
|
L + 7.25%
|
|
|
N/A(6)
|
|
01/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Arch Global CCT Holdings Corp.#+!~
|
Senior loan
|
|
L + 4.75%
|
(a)(f)
|
|
6.55%
|
|
04/2026
|
|
3,894
|
|
|
3,936
|
|
|
0.2
|
|
|
3,894
|
|
||||
Arch Global CCT Holdings Corp.
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Arch Global CCT Holdings Corp.
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2026
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Astute Holdings, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
04/2025
|
|
10,907
|
|
|
11,096
|
|
|
0.5
|
|
|
10,907
|
|
||||
Astute Holdings, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
04/2025
|
|
86
|
|
|
85
|
|
|
—
|
|
|
86
|
|
||||
Astute Holdings, Inc. (5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Aurora Lux Finco S.A.R.L.(8)(13)
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.93%
|
|
12/2026
|
|
1,000
|
|
|
975
|
|
|
—
|
|
|
975
|
|
||||
AutoQuotes, LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.66%
|
|
11/2024
|
|
9,888
|
|
|
10,048
|
|
|
0.4
|
|
|
9,888
|
|
||||
AutoQuotes, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Axiom Merger Sub Inc.#!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.26%
|
|
04/2026
|
|
5,891
|
|
|
5,952
|
|
|
0.3
|
|
|
5,891
|
|
||||
Axiom Merger Sub Inc.#+!~(8)(9)
|
One stop
|
|
E + 5.50%
|
(g)
|
|
5.50%
|
|
04/2026
|
|
2,428
|
|
|
2,453
|
|
|
0.1
|
|
|
2,441
|
|
||||
Axiom Merger Sub Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
04/2026
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Axiom Merger Sub Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
04/2026
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Bazaarvoice, Inc.*#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
02/2024
|
|
48,492
|
|
|
49,402
|
|
|
2.2
|
|
|
48,492
|
|
||||
Bazaarvoice, Inc.(5)
|
One stop
|
|
L + 0.00%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Bearcat Buyer, Inc.#+!~
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.19%
|
|
07/2026
|
|
2,950
|
|
|
2,975
|
|
|
0.1
|
|
|
2,950
|
|
||||
Bearcat Buyer, Inc.#!~
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.19%
|
|
07/2026
|
|
312
|
|
|
309
|
|
|
—
|
|
|
312
|
|
||||
Bearcat Buyer, Inc.
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.19%
|
|
07/2026
|
|
166
|
|
|
167
|
|
|
—
|
|
|
166
|
|
||||
Bearcat Buyer, Inc.
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Bullhorn, Inc.#+!~(14)
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
10/2025
|
|
67,812
|
|
|
66,836
|
|
|
3.0
|
|
|
67,812
|
|
||||
Bullhorn, Inc.(8)(9)(14)
|
One stop
|
|
L + 6.00%
|
(i)
|
|
6.79%
|
|
10/2025
|
|
12,099
|
|
|
11,926
|
|
|
0.6
|
|
|
13,039
|
|
||||
Bullhorn, Inc.(8)(9)(14)
|
One stop
|
|
E + 5.75%
|
(c)
|
|
5.75%
|
|
10/2025
|
|
4,859
|
|
|
4,789
|
|
|
0.2
|
|
|
4,983
|
|
||||
Bullhorn, Inc.
|
One stop
|
|
L + 7.46%
|
(c)
|
|
7.46%
|
|
10/2025
|
|
78
|
|
|
73
|
|
|
—
|
|
|
78
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Bullhorn, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
10/2025
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
Calabrio, Inc. #!~
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
06/2025
|
|
9,880
|
|
|
10,050
|
|
|
0.4
|
|
|
9,880
|
|
||||
Calabrio, Inc.
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.28%
|
|
06/2025
|
|
120
|
|
|
120
|
|
|
—
|
|
|
120
|
|
||||
Caliper Software, Inc.#!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.94%
|
|
11/2025
|
|
26,071
|
|
|
26,609
|
|
|
1.2
|
|
|
26,071
|
|
||||
Caliper Software, Inc.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.95%
|
|
11/2023
|
|
318
|
|
|
320
|
|
|
—
|
|
|
318
|
|
||||
Centrify Corporation*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.20%
|
|
08/2024
|
|
23,315
|
|
|
23,361
|
|
|
1.0
|
|
|
22,616
|
|
||||
Centrify Corporation
|
One stop
|
|
P + 5.25%
|
(f)
|
|
10.00%
|
|
08/2024
|
|
300
|
|
|
300
|
|
|
—
|
|
|
292
|
|
||||
Clearwater Analytics, LLC^*
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.70%
|
|
09/2022
|
|
16,458
|
|
|
16,453
|
|
|
0.7
|
|
|
16,458
|
|
||||
Clearwater Analytics, LLC+
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.72%
|
|
09/2022
|
|
6,086
|
|
|
6,126
|
|
|
0.3
|
|
|
6,086
|
|
||||
Clearwater Analytics, LLC+
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.20%
|
|
09/2022
|
|
998
|
|
|
978
|
|
|
0.1
|
|
|
998
|
|
||||
Clearwater Analytics, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Cloudbees, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.19% cash/0.50% PIK
|
|
05/2023
|
|
4,198
|
|
|
4,242
|
|
|
0.2
|
|
|
4,198
|
|
||||
Cloudbees, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.19% cash/0.50% PIK
|
|
08/2021
|
|
1,463
|
|
|
1,480
|
|
|
0.1
|
|
|
1,463
|
|
||||
Cloudbees, Inc.
|
One stop
|
|
L + 8.50%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Confluence Technologies, Inc.#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
03/2024
|
|
45,346
|
|
|
45,056
|
|
|
2.0
|
|
|
44,892
|
|
||||
Confluence Technologies, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
03/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(3
|
)
|
||||
Connexin Software, Inc.#!~
|
One stop
|
|
L + 8.50%
|
(a)
|
|
10.30%
|
|
02/2024
|
|
7,550
|
|
|
7,632
|
|
|
0.3
|
|
|
7,550
|
|
||||
Connexin Software, Inc.
|
One stop
|
|
L + 8.50%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Conservice, LLC#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
12/2024
|
|
3,784
|
|
|
3,856
|
|
|
0.2
|
|
|
3,784
|
|
||||
Conservice, LLC
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Convercent, Inc.
|
One stop
|
|
L + 9.00%
|
(c)
|
|
8.25% cash/2.75% PIK
|
|
12/2024
|
|
2,754
|
|
|
2,671
|
|
|
0.1
|
|
|
2,713
|
|
||||
Convercent, Inc.
|
Subordinated debt
|
|
N/A
|
|
|
4.00%
|
|
11/2020
|
|
138
|
|
|
138
|
|
|
—
|
|
|
138
|
|
||||
Convercent, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Convercent, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Daxko Acquisition Corporation^*
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
09/2023
|
|
22,117
|
|
|
22,413
|
|
|
1.0
|
|
|
22,117
|
|
||||
Daxko Acquisition Corporation(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
09/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Digital Guardian, Inc.
|
One stop
|
|
L + 9.50%
|
(c)
|
|
8.60% cash/3.00% PIK
|
|
06/2023
|
|
8,535
|
|
|
8,895
|
|
|
0.4
|
|
|
8,938
|
|
||||
Digital Guardian, Inc.
|
Subordinated debt
|
|
N/A
|
|
|
8.00% PIK
|
|
06/2023
|
|
8
|
|
|
6
|
|
|
—
|
|
|
8
|
|
||||
Digital Guardian, Inc.
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Digital Guardian, Inc.
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
17
|
|
|
—
|
|
|
21
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.#+!~
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.77%
|
|
06/2022
|
|
5,129
|
|
|
5,238
|
|
|
0.2
|
|
|
5,129
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
|
Senior loan
|
|
L + 4.00%
|
|
|
N/A(6)
|
|
06/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
|
Senior loan
|
|
L + 4.00%
|
|
|
N/A(6)
|
|
06/2022
|
|
—
|
|
|
4
|
|
|
—
|
|
|
—
|
|
||||
E2open, LLC*#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.66%
|
|
11/2024
|
|
86,555
|
|
|
87,574
|
|
|
3.9
|
|
|
86,555
|
|
||||
E2open, LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
||||
EGD Security Systems, LLC^*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.78%
|
|
06/2023
|
|
30,092
|
|
|
30,554
|
|
|
1.3
|
|
|
30,092
|
|
||||
EGD Security Systems, LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.81%
|
|
06/2023
|
|
644
|
|
|
668
|
|
|
—
|
|
|
644
|
|
||||
EGD Security Systems, LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.79%
|
|
06/2023
|
|
347
|
|
|
345
|
|
|
—
|
|
|
347
|
|
||||
EGD Security Systems, LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.67%
|
|
06/2023
|
|
36
|
|
|
34
|
|
|
—
|
|
|
36
|
|
||||
GS Acquisitionco, Inc.*#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
54,425
|
|
|
54,897
|
|
|
2.4
|
|
|
54,425
|
|
||||
GS Acquisitionco, Inc.*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
12,854
|
|
|
13,215
|
|
|
0.6
|
|
|
12,854
|
|
||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
3,312
|
|
|
3,406
|
|
|
0.1
|
|
|
3,312
|
|
||||
GS Acquisitionco, Inc.#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
3,055
|
|
|
3,142
|
|
|
0.1
|
|
|
3,055
|
|
||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
1,918
|
|
|
1,973
|
|
|
0.1
|
|
|
1,918
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
$
|
170
|
|
|
$
|
166
|
|
|
—
|
|
%
|
$
|
170
|
|
|
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2024
|
|
11
|
|
|
10
|
|
|
—
|
|
|
11
|
|
||||
HealthcareSource HR, Inc.*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
05/2023
|
|
34,006
|
|
|
34,122
|
|
|
1.5
|
|
|
34,006
|
|
||||
HealthcareSource HR, Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
HSI Halo Acquisition, Inc.#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
08/2026
|
|
4,123
|
|
|
4,175
|
|
|
0.2
|
|
|
4,123
|
|
||||
HSI Halo Acquisition, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.54%
|
|
08/2026
|
|
305
|
|
|
300
|
|
|
—
|
|
|
305
|
|
||||
HSI Halo Acquisition, Inc.
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
09/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Hydraulic Authority III Limited#!~(8)(9)(10)
|
One stop
|
|
L + 6.00%
|
(h)(j)
|
|
7.00%
|
|
11/2025
|
|
12,371
|
|
|
12,608
|
|
|
0.6
|
|
|
13,022
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
One stop
|
|
N/A
|
|
|
11.00% PIK
|
|
11/2028
|
|
199
|
|
|
203
|
|
|
—
|
|
|
209
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.00%
|
|
11/2025
|
|
12
|
|
|
13
|
|
|
—
|
|
|
14
|
|
||||
ICIMS, Inc.#!~
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.29%
|
|
09/2024
|
|
14,355
|
|
|
14,585
|
|
|
0.6
|
|
|
14,355
|
|
||||
ICIMS, Inc.#!~
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.29%
|
|
09/2024
|
|
4,501
|
|
|
4,590
|
|
|
0.2
|
|
|
4,501
|
|
||||
ICIMS, Inc.(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
09/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
III US Holdings, LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Imprivata, Inc.*#+!~
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
5.94%
|
|
10/2023
|
|
9,387
|
|
|
9,614
|
|
|
0.4
|
|
|
9,387
|
|
||||
Imprivata, Inc.(5)
|
Senior loan
|
|
L + 4.00%
|
|
|
N/A(6)
|
|
10/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Infinisource, Inc.#+!~
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
10/2026
|
|
29,402
|
|
|
28,921
|
|
|
1.3
|
|
|
29,108
|
|
||||
Infinisource, Inc.(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
10/2026
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Infinisource, Inc.(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
10/2026
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
||||
Infogix, Inc.*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
04/2024
|
|
7,233
|
|
|
7,391
|
|
|
0.3
|
|
|
7,089
|
|
||||
Infogix, Inc.*+
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
04/2024
|
|
1,115
|
|
|
1,136
|
|
|
0.1
|
|
|
1,094
|
|
||||
Infogix, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
04/2024
|
|
34
|
|
|
35
|
|
|
—
|
|
|
34
|
|
||||
Integral Ad Science, Inc.#!~
|
One stop
|
|
L + 7.25%
|
(a)
|
|
7.80% cash/1.25% PIK
|
|
07/2024
|
|
14,798
|
|
|
15,039
|
|
|
0.7
|
|
|
14,798
|
|
||||
Integral Ad Science, Inc.#!~
|
One stop
|
|
L + 7.25%
|
(a)(c)
|
|
7.80% cash/1.25% PIK
|
|
07/2024
|
|
934
|
|
|
916
|
|
|
—
|
|
|
934
|
|
||||
Integral Ad Science, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(4
|
)
|
||||
Integration Appliance, Inc.^*#!~
|
One stop
|
|
L + 7.25%
|
(c)
|
|
9.43%
|
|
08/2023
|
|
68,335
|
|
|
69,320
|
|
|
3.1
|
|
|
68,335
|
|
||||
Integration Appliance, Inc.(5)
|
One stop
|
|
L + 7.25%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
||||
Internet Truckstop Group LLC*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
6.95%
|
|
04/2025
|
|
22,759
|
|
|
23,433
|
|
|
1.0
|
|
|
22,759
|
|
||||
Internet Truckstop Group LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Invoice Cloud, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
5.15% cash/3.25% PIK
|
|
02/2024
|
|
6,355
|
|
|
6,401
|
|
|
0.3
|
|
|
6,355
|
|
||||
Invoice Cloud, Inc.
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Invoice Cloud, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
JAMF Holdings, Inc.#!~
|
One stop
|
|
L + 7.00%
|
(c)
|
|
0.0891
|
|
11/2022
|
|
13,559
|
|
|
13,786
|
|
|
0.6
|
|
|
13,559
|
|
||||
JAMF Holdings, Inc.
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.80%
|
|
11/2022
|
|
12
|
|
|
12
|
|
|
—
|
|
|
12
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.80%
|
|
06/2022
|
|
10,273
|
|
|
10,436
|
|
|
0.5
|
|
|
10,352
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.80%
|
|
06/2022
|
|
941
|
|
|
961
|
|
|
—
|
|
|
949
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.80%
|
|
06/2022
|
|
753
|
|
|
770
|
|
|
—
|
|
|
759
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
|
|
N/A(6)
|
|
06/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Kaseya Traverse Inc#!~
|
One stop
|
|
L + 6.50%
|
(c)(d)
|
|
7.72% cash/1.00% PIK
|
|
05/2025
|
|
33,234
|
|
|
34,377
|
|
|
1.5
|
|
|
33,234
|
|
||||
Kaseya Traverse Inc
|
One stop
|
|
L + 6.50%
|
(c)(d)
|
|
7.69% cash/1.00% PIK
|
|
05/2025
|
|
499
|
|
|
519
|
|
|
—
|
|
|
499
|
|
||||
Kaseya Traverse Inc
|
One stop
|
|
L + 6.50%
|
(a)(c)
|
|
8.45%
|
|
05/2025
|
|
104
|
|
|
103
|
|
|
—
|
|
|
104
|
|
||||
Learn-it Systems, LLC
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.40%
|
|
03/2025
|
|
2,559
|
|
|
2,622
|
|
|
0.1
|
|
|
2,559
|
|
||||
Learn-it Systems, LLC
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.45%
|
|
03/2025
|
|
166
|
|
|
165
|
|
|
—
|
|
|
166
|
|
||||
Learn-it Systems, LLC
|
Senior loan
|
|
L + 4.50%
|
(a)(c)(f)
|
|
7.09%
|
|
03/2025
|
|
32
|
|
|
33
|
|
|
—
|
|
|
32
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Litera Bidco LLC#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.70%
|
|
05/2026
|
|
$
|
3,379
|
|
|
$
|
3,410
|
|
|
0.2
|
|
%
|
$
|
3,379
|
|
|
Litera Bidco LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.70%
|
|
05/2026
|
|
705
|
|
|
733
|
|
|
—
|
|
|
705
|
|
||||
Litera Bidco LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.70%
|
|
05/2026
|
|
705
|
|
|
734
|
|
|
—
|
|
|
705
|
|
||||
Litera Bidco LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Maverick Bidco Inc.*#!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2023
|
|
39,768
|
|
|
40,050
|
|
|
1.7
|
|
|
38,971
|
|
||||
Maverick Bidco Inc.*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2023
|
|
3,207
|
|
|
3,276
|
|
|
0.1
|
|
|
3,143
|
|
||||
Maverick Bidco Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.22%
|
|
04/2023
|
|
68
|
|
|
65
|
|
|
—
|
|
|
62
|
|
||||
MetricStream, Inc.
|
One stop
|
|
L + 7.00%
|
(c)
|
|
9.00%
|
|
05/2024
|
|
9,131
|
|
|
9,227
|
|
|
0.4
|
|
|
9,194
|
|
||||
MetricStream, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
||||
MetricStream, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
11
|
|
|
—
|
|
|
14
|
|
||||
Mindbody, Inc.#!~
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.79%
|
|
02/2025
|
|
48,351
|
|
|
49,273
|
|
|
2.2
|
|
|
48,351
|
|
||||
Mindbody, Inc.(5)
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
02/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Ministry Brands, LLC+
|
Senior loan
|
|
L + 4.00%
|
(b)
|
|
5.85%
|
|
12/2022
|
|
1,456
|
|
|
1,479
|
|
|
0.1
|
|
|
1,456
|
|
||||
Ministry Brands, LLC+
|
Senior loan
|
|
L + 4.00%
|
(b)
|
|
5.85%
|
|
12/2022
|
|
833
|
|
|
846
|
|
|
—
|
|
|
833
|
|
||||
Ministry Brands, LLC
|
Senior loan
|
|
L + 4.00%
|
(b)
|
|
5.85%
|
|
12/2022
|
|
380
|
|
|
394
|
|
|
—
|
|
|
380
|
|
||||
Namely, Inc.#!~
|
One stop
|
|
L + 7.50%
|
(c)
|
|
8.25% cash/1.25% PIK
|
|
06/2024
|
|
3,546
|
|
|
3,587
|
|
|
0.2
|
|
|
3,546
|
|
||||
Namely, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.25%
|
|
06/2024
|
|
2,020
|
|
|
2,004
|
|
|
0.1
|
|
|
2,020
|
|
||||
Namely, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
06/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Net Health Acquisition Corp.*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
12/2023
|
|
8,619
|
|
|
8,745
|
|
|
0.4
|
|
|
8,619
|
|
||||
Net Health Acquisition Corp.#+!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
12/2023
|
|
6,897
|
|
|
7,044
|
|
|
0.3
|
|
|
6,897
|
|
||||
Net Health Acquisition Corp.*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
12/2023
|
|
1,204
|
|
|
1,222
|
|
|
0.1
|
|
|
1,204
|
|
||||
Net Health Acquisition Corp.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Netsmart Technologies, Inc.(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Nextech Holdings, LLC#+!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
06/2025
|
|
4,043
|
|
|
4,119
|
|
|
0.2
|
|
|
4,043
|
|
||||
Nextech Holdings, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Nextech Holdings, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(22
|
)
|
|
—
|
|
|
—
|
|
||||
Nexus Brands Group, Inc.*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.83%
|
|
11/2023
|
|
9,450
|
|
|
9,565
|
|
|
0.4
|
|
|
9,355
|
|
||||
Nexus Brands Group, Inc.#+!~(8)(9)
|
One stop
|
|
N/A
|
|
|
7.00%
|
|
11/2023
|
|
7,199
|
|
|
7,346
|
|
|
0.3
|
|
|
7,597
|
|
||||
Nexus Brands Group, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
11/2023
|
|
2,001
|
|
|
2,081
|
|
|
0.1
|
|
|
1,981
|
|
||||
Nexus Brands Group, Inc.#!~
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
11/2023
|
|
1,447
|
|
|
1,505
|
|
|
0.1
|
|
|
1,434
|
|
||||
Nexus Brands Group, Inc.#!~
|
One stop
|
|
L + 6.00%
|
(b)
|
|
7.84%
|
|
11/2023
|
|
771
|
|
|
764
|
|
|
—
|
|
|
763
|
|
||||
Nexus Brands Group, Inc.
|
One stop
|
|
L + 6.00%
|
(a)(c)
|
|
7.79%
|
|
11/2023
|
|
30
|
|
|
32
|
|
|
—
|
|
|
28
|
|
||||
Nexus Brands Group, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Nexus Brands Group, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
||||
Nexus Brands Group, Inc.(8)(9)
|
One stop
|
|
N/A
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Nexus Brands Group, Inc.(5)(8)(9)
|
One stop
|
|
N/A
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Onapsis, Inc., Virtual Forge GMBH and Onapsis GMBH
|
One stop
|
|
P + 6.75%
|
(f)
|
|
9.75% cash/1.75% PIK
|
|
10/2024
|
|
2,112
|
|
|
2,091
|
|
|
0.1
|
|
|
2,185
|
|
||||
Onapsis, Inc., Virtual Forge GMBH and Onapsis GMBH
|
One stop
|
|
L + 7.75%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
||||
Onapsis, Inc., Virtual Forge GMBH and Onapsis GMBH
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
||||
Personify, Inc.*+
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
09/2024
|
|
15,575
|
|
|
15,878
|
|
|
0.7
|
|
|
15,575
|
|
||||
Personify, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
09/2024
|
|
40
|
|
|
40
|
|
|
—
|
|
|
40
|
|
||||
PlanSource Holdings, Inc. #!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.15%
|
|
04/2025
|
|
11,416
|
|
|
11,563
|
|
|
0.5
|
|
|
11,416
|
|
||||
PlanSource Holdings, Inc. (5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Project Power Buyer, LLC#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.70%
|
|
05/2026
|
|
11,583
|
|
|
11,822
|
|
|
0.5
|
|
|
11,583
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Project Power Buyer, LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
19,998
|
|
|
20,232
|
|
|
0.9
|
|
|
19,998
|
|
||||
Property Brands, Inc.*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
6,703
|
|
|
6,836
|
|
|
0.3
|
|
|
6,703
|
|
||||
Property Brands, Inc.^#!~
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
3,268
|
|
|
3,396
|
|
|
0.1
|
|
|
3,268
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
1,435
|
|
|
1,490
|
|
|
0.1
|
|
|
1,435
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
1,214
|
|
|
1,260
|
|
|
0.1
|
|
|
1,214
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
1,197
|
|
|
1,245
|
|
|
0.1
|
|
|
1,197
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
01/2024
|
|
506
|
|
|
524
|
|
|
—
|
|
|
506
|
|
||||
Property Brands, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
01/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Property Brands, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
01/2024
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
PT Intermediate Holdings III, LLC#+!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
10/2025
|
|
30,000
|
|
|
29,538
|
|
|
1.3
|
|
|
30,000
|
|
||||
Qgenda Intermediate Holdings, LLC+
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
06/2025
|
|
15,394
|
|
|
15,413
|
|
|
0.7
|
|
|
15,239
|
|
||||
Qgenda Intermediate Holdings, LLC#!~
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
06/2025
|
|
1,000
|
|
|
990
|
|
|
—
|
|
|
990
|
|
||||
Qgenda Intermediate Holdings, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Recordxtechnologies, LLC+
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
12/2025
|
|
749
|
|
|
740
|
|
|
—
|
|
|
742
|
|
||||
Recordxtechnologies, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
12/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Recordxtechnologies, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
12/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
RegEd Aquireco, LLC+
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
12/2024
|
|
11,503
|
|
|
11,498
|
|
|
0.5
|
|
|
11,503
|
|
||||
RegEd Aquireco, LLC
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.01%
|
|
12/2024
|
|
52
|
|
|
52
|
|
|
—
|
|
|
52
|
|
||||
RegEd Aquireco, LLC(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
||||
Saba Software, Inc.^*#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
05/2023
|
|
49,058
|
|
|
50,019
|
|
|
2.2
|
|
|
49,058
|
|
||||
Saba Software, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
05/2023
|
|
10,982
|
|
|
11,102
|
|
|
0.5
|
|
|
10,982
|
|
||||
Saba Software, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
SnapLogic, Inc.
|
One stop
|
|
L + 8.75%
|
(b)
|
|
5.11% cash/5.50% PIK
|
|
09/2024
|
|
5,734
|
|
|
5,654
|
|
|
0.3
|
|
|
5,734
|
|
||||
SnapLogic, Inc.
|
One stop
|
|
L + 3.25%
|
|
|
N/A(6)
|
|
09/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
SnapLogic, Inc.
|
One stop
|
|
L + 3.25%
|
|
|
N/A(6)
|
|
09/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sontatype, Inc.
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.51%
|
|
12/2025
|
|
851
|
|
|
842
|
|
|
—
|
|
|
842
|
|
||||
Sontatype, Inc.(5)
|
One stop
|
|
L + 6.75%
|
|
|
N/A(6)
|
|
12/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Telesoft Holdings LLC#!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
12/2025
|
|
909
|
|
|
889
|
|
|
—
|
|
|
900
|
|
||||
Telesoft Holdings LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
12/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(1
|
)
|
||||
TI Intermediate Holdings, LLC+
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
12/2024
|
|
3,544
|
|
|
3,612
|
|
|
0.2
|
|
|
3,544
|
|
||||
TI Intermediate Holdings, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transact Holdings, Inc.#+!~
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
04/2026
|
|
3,102
|
|
|
3,151
|
|
|
0.1
|
|
|
3,090
|
|
||||
Transaction Data Systems, Inc.*#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2021
|
|
84,117
|
|
|
85,773
|
|
|
3.8
|
|
|
84,117
|
|
||||
Transaction Data Systems, Inc.
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2021
|
|
160
|
|
|
162
|
|
|
—
|
|
|
160
|
|
||||
Trintech, Inc.^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.93%
|
|
12/2023
|
|
22,571
|
|
|
22,988
|
|
|
1.0
|
|
|
22,571
|
|
||||
Trintech, Inc.^
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.93%
|
|
12/2023
|
|
9,359
|
|
|
9,586
|
|
|
0.4
|
|
|
9,359
|
|
||||
Trintech, Inc.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.93%
|
|
12/2023
|
|
80
|
|
|
82
|
|
|
—
|
|
|
80
|
|
||||
True Commerce, Inc.^#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
11/2023
|
|
15,390
|
|
|
15,715
|
|
|
0.7
|
|
|
15,390
|
|
||||
True Commerce, Inc.+(8)(9)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
11/2023
|
|
2,595
|
|
|
2,707
|
|
|
0.1
|
|
|
2,768
|
|
||||
True Commerce, Inc.(8)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
11/2023
|
|
916
|
|
|
955
|
|
|
—
|
|
|
916
|
|
||||
True Commerce, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Upserve, Inc.#!~
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
07/2023
|
|
6,141
|
|
|
6,208
|
|
|
0.3
|
|
|
6,080
|
|
||||
Upserve, Inc.
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
07/2023
|
|
1,451
|
|
|
1,507
|
|
|
0.1
|
|
|
1,437
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Upserve, Inc.
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
07/2023
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
%
|
$
|
—
|
|
|
Vector CS Midco Limited & Cloudsense Ltd.#!~(8)(9)(10)
|
One stop
|
|
N/A
|
|
|
4.50% cash/3.55% PIK
|
|
05/2024
|
|
7,655
|
|
|
7,798
|
|
|
0.4
|
|
|
7,971
|
|
||||
Vector CS Midco Limited & Cloudsense Ltd.(5)(8)(9)(10)
|
One stop
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Velocity Technology Solutions, Inc.*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.91%
|
|
12/2023
|
|
18,417
|
|
|
18,763
|
|
|
0.8
|
|
|
18,417
|
|
||||
Velocity Technology Solutions, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Vendavo, Inc.*#!~
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.41%
|
|
10/2022
|
|
35,638
|
|
|
35,585
|
|
|
1.6
|
|
|
35,638
|
|
||||
Vendavo, Inc.(5)
|
One stop
|
|
L + 8.50%
|
|
|
N/A(6)
|
|
10/2022
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Verisys Corporation*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
01/2023
|
|
8,533
|
|
|
8,700
|
|
|
0.4
|
|
|
8,533
|
|
||||
Verisys Corporation(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
01/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Workforce Software, LLC#!~
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.41%
|
|
07/2025
|
|
27,059
|
|
|
27,867
|
|
|
1.2
|
|
|
27,059
|
|
||||
Workforce Software, LLC(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
1,549,484
|
|
|
1,567,485
|
|
|
68.9
|
|
|
1,549,719
|
|
||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Pace Analytical Services, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
29,871
|
|
|
30,274
|
|
|
1.3
|
|
|
29,871
|
|
||||
Pace Analytical Services, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
2,777
|
|
|
2,822
|
|
|
0.1
|
|
|
2,777
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
1,664
|
|
|
1,726
|
|
|
0.1
|
|
|
1,664
|
|
||||
Pace Analytical Services, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
1,530
|
|
|
1,558
|
|
|
0.1
|
|
|
1,530
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)(c)
|
|
7.32%
|
|
09/2022
|
|
1,274
|
|
|
1,287
|
|
|
0.1
|
|
|
1,274
|
|
||||
Pace Analytical Services, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
1,232
|
|
|
1,277
|
|
|
0.1
|
|
|
1,232
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
1,000
|
|
|
981
|
|
|
0.1
|
|
|
1,000
|
|
||||
Pace Analytical Services, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
682
|
|
|
693
|
|
|
—
|
|
|
682
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
563
|
|
|
584
|
|
|
—
|
|
|
563
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2022
|
|
189
|
|
|
195
|
|
|
—
|
|
|
189
|
|
||||
Pace Analytical Services, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
WRE Holding Corp.*
|
Senior loan
|
|
L + 5.00%
|
(a)(c)
|
|
6.91%
|
|
01/2023
|
|
2,294
|
|
|
2,342
|
|
|
0.1
|
|
|
2,294
|
|
||||
WRE Holding Corp.#!~
|
Senior loan
|
|
L + 5.00%
|
(a)(c)
|
|
6.93%
|
|
01/2023
|
|
947
|
|
|
985
|
|
|
—
|
|
|
947
|
|
||||
WRE Holding Corp.
|
Senior loan
|
|
L + 5.00%
|
(a)(b)(c)
|
|
6.91%
|
|
01/2023
|
|
313
|
|
|
326
|
|
|
—
|
|
|
313
|
|
||||
WRE Holding Corp.
|
Senior loan
|
|
L + 5.00%
|
(a)(b)(c)
|
|
6.75%
|
|
01/2023
|
|
32
|
|
|
33
|
|
|
—
|
|
|
32
|
|
||||
|
|
|
|
|
|
|
|
|
|
44,368
|
|
|
45,082
|
|
|
2.0
|
|
|
44,368
|
|
||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Appriss Holdings, Inc.#+!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
06/2026
|
|
25,158
|
|
|
25,956
|
|
|
1.1
|
|
|
25,158
|
|
||||
Appriss Holdings, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Diligent Corporation*+
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
35,716
|
|
|
36,943
|
|
|
1.6
|
|
|
35,716
|
|
||||
Diligent Corporation*#!~
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
25,802
|
|
|
25,625
|
|
|
1.2
|
|
|
25,802
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
12,506
|
|
|
12,779
|
|
|
0.6
|
|
|
12,506
|
|
||||
Diligent Corporation^*
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
11,279
|
|
|
11,610
|
|
|
0.5
|
|
|
11,279
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(b)(c)
|
|
7.58%
|
|
04/2022
|
|
1,266
|
|
|
1,264
|
|
|
0.1
|
|
|
1,266
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)(d)(f)
|
|
7.42%
|
|
04/2022
|
|
487
|
|
|
505
|
|
|
—
|
|
|
487
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.48%
|
|
04/2022
|
|
285
|
|
|
288
|
|
|
—
|
|
|
285
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
101
|
|
|
100
|
|
|
—
|
|
|
101
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
80
|
|
|
79
|
|
|
—
|
|
|
80
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)(d)(f)
|
|
7.42%
|
|
04/2022
|
|
39
|
|
|
38
|
|
|
—
|
|
|
39
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(d)
|
|
7.56%
|
|
04/2022
|
|
35
|
|
|
35
|
|
|
—
|
|
|
35
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2022
|
|
—
|
|
|
24
|
|
|
—
|
|
|
—
|
|
||||
Episerver, Inc.#!~(8)(9)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
6.00%
|
|
10/2024
|
|
20,698
|
|
|
21,066
|
|
|
0.9
|
|
|
20,667
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Electronics - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Episerver, Inc.#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
10/2024
|
|
$
|
12,278
|
|
|
$
|
12,502
|
|
|
0.6
|
|
%
|
$
|
12,278
|
|
|
Episerver, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
ES Acquisition LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.41%
|
|
11/2025
|
|
667
|
|
|
654
|
|
|
—
|
|
|
660
|
|
||||
ES Acquisition LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.41%
|
|
11/2025
|
|
23
|
|
|
22
|
|
|
—
|
|
|
22
|
|
||||
ES Acquisition LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
11/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Gamma Technologies, LLC^*#!~
|
One stop
|
|
L + 5.00%
|
(a)
|
|
6.80%
|
|
06/2024
|
|
33,327
|
|
|
33,708
|
|
|
1.5
|
|
|
33,327
|
|
||||
Gamma Technologies, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
06/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Red Dawn SEI Buyer, Inc.+
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
11/2025
|
|
756
|
|
|
746
|
|
|
—
|
|
|
748
|
|
||||
Red Dawn SEI Buyer, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
11/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Red Dawn SEI Buyer, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
11/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Silver Peak Systems, Inc.
|
One stop
|
|
L + 7.00%
|
(a)
|
|
8.74%
|
|
04/2024
|
|
5,998
|
|
|
6,017
|
|
|
0.3
|
|
|
6,060
|
|
||||
Silver Peak Systems, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
||||
Sloan Company, Inc., The+(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.44%
|
|
04/2020
|
|
9,839
|
|
|
8,587
|
|
|
0.3
|
|
|
5,715
|
|
||||
Sloan Company, Inc., The(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.44%
|
|
04/2020
|
|
660
|
|
|
577
|
|
|
—
|
|
|
383
|
|
||||
Sloan Company, Inc., The(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.44%
|
|
04/2020
|
|
336
|
|
|
335
|
|
|
—
|
|
|
352
|
|
||||
Sloan Company, Inc., The(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.44%
|
|
04/2020
|
|
104
|
|
|
84
|
|
|
—
|
|
|
60
|
|
||||
Sovos Compliance*+
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
04/2024
|
|
19,614
|
|
|
20,270
|
|
|
0.9
|
|
|
19,614
|
|
||||
Sovos Compliance
|
Second lien
|
|
L + 12.00%
|
|
|
12.00% PIK
|
|
04/2025
|
|
9,114
|
|
|
9,391
|
|
|
0.4
|
|
|
9,114
|
|
||||
Sovos Compliance
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
04/2024
|
|
1,903
|
|
|
1,968
|
|
|
0.1
|
|
|
1,903
|
|
||||
Sovos Compliance
|
Second lien
|
|
L + 12.00%
|
|
|
12.00% PIK
|
|
04/2025
|
|
1,232
|
|
|
1,277
|
|
|
0.1
|
|
|
1,232
|
|
||||
Sovos Compliance
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
04/2024
|
|
768
|
|
|
795
|
|
|
—
|
|
|
768
|
|
||||
Sovos Compliance(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Unison Software Holdings, Inc.^#+!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.44%
|
|
05/2023
|
|
3,798
|
|
|
3,828
|
|
|
0.2
|
|
|
3,769
|
|
||||
Watchfire Enterprises, Inc.
|
Second lien
|
|
L + 8.00%
|
(c)
|
|
9.95%
|
|
10/2021
|
|
9,435
|
|
|
9,378
|
|
|
0.4
|
|
|
9,435
|
|
||||
|
|
|
|
|
|
|
|
|
|
243,304
|
|
|
246,438
|
|
|
10.8
|
|
|
238,859
|
|
||||
Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Institutional Shareholder Services#!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.44%
|
|
03/2026
|
|
18,918
|
|
|
19,356
|
|
|
0.8
|
|
|
18,918
|
|
||||
Institutional Shareholder Services
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.44%
|
|
03/2024
|
|
132
|
|
|
129
|
|
|
—
|
|
|
132
|
|
||||
|
|
|
|
|
|
|
|
|
|
19,050
|
|
|
19,485
|
|
|
0.8
|
|
|
19,050
|
|
||||
Grocery
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Teasdale Quality Foods, Inc.+
|
Senior loan
|
|
L + 5.75%
|
(a)
|
|
7.69%
|
|
10/2020
|
|
349
|
|
|
345
|
|
|
—
|
|
|
321
|
|
||||
Teasdale Quality Foods, Inc.
|
Senior loan
|
|
L + 5.75%
|
(a)
|
|
7.69%
|
|
10/2020
|
|
100
|
|
|
96
|
|
|
—
|
|
|
92
|
|
||||
|
|
|
|
|
|
|
|
|
|
449
|
|
|
441
|
|
|
—
|
|
|
413
|
|
||||
Healthcare, Education and Childcare
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
12/2021
|
|
24,357
|
|
|
24,665
|
|
|
1.1
|
|
|
24,357
|
|
||||
Active Day, Inc.^
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
12/2021
|
|
1,880
|
|
|
1,907
|
|
|
0.1
|
|
|
1,880
|
|
||||
Active Day, Inc.*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
12/2021
|
|
1,211
|
|
|
1,229
|
|
|
0.1
|
|
|
1,211
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
12/2021
|
|
965
|
|
|
999
|
|
|
—
|
|
|
965
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
12/2021
|
|
851
|
|
|
844
|
|
|
—
|
|
|
851
|
|
||||
Active Day, Inc.*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.44%
|
|
12/2021
|
|
837
|
|
|
849
|
|
|
—
|
|
|
837
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
(c)(f)
|
|
8.91%
|
|
12/2021
|
|
94
|
|
|
94
|
|
|
—
|
|
|
94
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.17%
|
|
03/2024
|
|
6,367
|
|
|
6,408
|
|
|
0.3
|
|
|
6,294
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
03/2024
|
|
5,990
|
|
|
6,080
|
|
|
0.3
|
|
|
5,930
|
|
||||
Acuity Eyecare Holdings, LLC#!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
03/2024
|
|
5,630
|
|
|
5,759
|
|
|
0.3
|
|
|
5,573
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Acuity Eyecare Holdings, LLC^#!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
03/2024
|
|
$
|
3,285
|
|
|
$
|
3,409
|
|
|
0.1
|
|
%
|
$
|
3,251
|
|
|
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
03/2024
|
|
794
|
|
|
823
|
|
|
—
|
|
|
786
|
|
||||
Acuity Eyecare Holdings, LLC(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
03/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Acuity Eyecare Holdings, LLC(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
03/2024
|
|
—
|
|
|
(10
|
)
|
|
—
|
|
|
(10
|
)
|
||||
ADCS Clinics Intermediate Holdings, LLC+
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2022
|
|
42,202
|
|
|
42,803
|
|
|
1.9
|
|
|
42,202
|
|
||||
ADCS Clinics Intermediate Holdings, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2022
|
|
212
|
|
|
215
|
|
|
—
|
|
|
212
|
|
||||
ADCS Clinics Intermediate Holdings, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2022
|
|
164
|
|
|
166
|
|
|
—
|
|
|
164
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2022
|
|
70
|
|
|
70
|
|
|
—
|
|
|
70
|
|
||||
ADCS Clinics Intermediate Holdings, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
05/2022
|
|
62
|
|
|
63
|
|
|
—
|
|
|
62
|
|
||||
Advanced Pain Management Holdings, Inc.+(7)
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.94%
|
|
04/2020
|
|
5,261
|
|
|
3,157
|
|
|
0.1
|
|
|
3,157
|
|
||||
Advanced Pain Management Holdings, Inc.(7)
|
Senior loan
|
|
L + 8.50%
|
(c)
|
|
10.44%
|
|
04/2020
|
|
1,823
|
|
|
3
|
|
|
—
|
|
|
3
|
|
||||
Advanced Pain Management Holdings, Inc.+(7)
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.94%
|
|
04/2020
|
|
360
|
|
|
216
|
|
|
—
|
|
|
216
|
|
||||
Advanced Pain Management Holdings, Inc.(7)
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.94%
|
|
04/2020
|
|
263
|
|
|
92
|
|
|
—
|
|
|
92
|
|
||||
Agilitas USA, Inc.*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
04/2022
|
|
10,179
|
|
|
10,222
|
|
|
0.5
|
|
|
10,179
|
|
||||
Agilitas USA, Inc.
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
04/2022
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
Apothecary Products, LLC+
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.45%
|
|
07/2023
|
|
2,956
|
|
|
3,089
|
|
|
0.1
|
|
|
2,956
|
|
||||
Apothecary Products, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC+(7)
|
Senior loan
|
|
L + 5.50%
|
(c)(d)
|
|
7.41%
|
|
03/2021
|
|
5,403
|
|
|
3,240
|
|
|
0.1
|
|
|
1,172
|
|
||||
Aris Teleradiology Company, LLC(7)
|
Senior loan
|
|
L + 5.50%
|
(c)(d)
|
|
7.41%
|
|
03/2021
|
|
1,087
|
|
|
687
|
|
|
—
|
|
|
226
|
|
||||
Aris Teleradiology Company, LLC(7)
|
Senior loan
|
|
L + 5.50%
|
(d)
|
|
7.41%
|
|
03/2021
|
|
224
|
|
|
224
|
|
|
—
|
|
|
224
|
|
||||
Aspen Medical Products, LLC#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
6.99%
|
|
06/2025
|
|
4,292
|
|
|
4,374
|
|
|
0.2
|
|
|
4,292
|
|
||||
Aspen Medical Products, LLC
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
BIO18 Borrower, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
11/2024
|
|
11,160
|
|
|
11,201
|
|
|
0.5
|
|
|
11,160
|
|
||||
BIO18 Borrower, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
11/2024
|
|
3,993
|
|
|
3,989
|
|
|
0.2
|
|
|
3,993
|
|
||||
BIO18 Borrower, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
11/2024
|
|
80
|
|
|
80
|
|
|
—
|
|
|
80
|
|
||||
BIOVT, LLC^*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
01/2021
|
|
34,397
|
|
|
34,918
|
|
|
1.5
|
|
|
34,397
|
|
||||
BIOVT, LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
01/2021
|
|
2,088
|
|
|
2,157
|
|
|
0.1
|
|
|
2,088
|
|
||||
BIOVT, LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
01/2021
|
|
1,961
|
|
|
2,025
|
|
|
0.1
|
|
|
1,961
|
|
||||
BIOVT, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
01/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
BIOVT, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
01/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Blades Buyer, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)(c)
|
|
6.26%
|
|
08/2025
|
|
3,848
|
|
|
3,870
|
|
|
0.2
|
|
|
3,810
|
|
||||
Blades Buyer, Inc.
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Blades Buyer, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
(10
|
)
|
||||
CMI Parent Inc.#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
08/2025
|
|
6,683
|
|
|
6,829
|
|
|
0.3
|
|
|
6,683
|
|
||||
CMI Parent Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
CRH Healthcare Purchaser, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
12/2024
|
|
13,975
|
|
|
14,159
|
|
|
0.6
|
|
|
13,975
|
|
||||
CRH Healthcare Purchaser, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
CRH Healthcare Purchaser, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
DCA Investment Holding, LLC^*+
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
31,655
|
|
|
32,064
|
|
|
1.4
|
|
|
31,655
|
|
||||
DCA Investment Holding, LLC^*#+!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
27,424
|
|
|
27,931
|
|
|
1.2
|
|
|
27,424
|
|
||||
DCA Investment Holding, LLC*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
8,384
|
|
|
8,597
|
|
|
0.4
|
|
|
8,384
|
|
||||
DCA Investment Holding, LLC#!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
4,064
|
|
|
4,210
|
|
|
0.2
|
|
|
4,064
|
|
||||
DCA Investment Holding, LLC#!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
3,697
|
|
|
3,829
|
|
|
0.2
|
|
|
3,697
|
|
||||
DCA Investment Holding, LLC*#!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
2,531
|
|
|
2,622
|
|
|
0.1
|
|
|
2,531
|
|
||||
DCA Investment Holding, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
1,259
|
|
|
1,283
|
|
|
0.1
|
|
|
1,259
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
DCA Investment Holding, LLC
|
One stop
|
|
P + 4.25%
|
(f)
|
|
9.00%
|
|
07/2021
|
|
$
|
810
|
|
|
$
|
805
|
|
|
—
|
|
%
|
$
|
810
|
|
|
DCA Investment Holding, LLC*#!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
300
|
|
|
304
|
|
|
—
|
|
|
300
|
|
||||
DCA Investment Holding, LLC*#!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2021
|
|
94
|
|
|
94
|
|
|
—
|
|
|
94
|
|
||||
Deca Dental Management LLC^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.94%
|
|
12/2021
|
|
11,357
|
|
|
11,630
|
|
|
0.5
|
|
|
11,357
|
|
||||
Deca Dental Management LLC#!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.94%
|
|
12/2021
|
|
1,382
|
|
|
1,416
|
|
|
0.1
|
|
|
1,382
|
|
||||
Deca Dental Management LLC#+!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.94%
|
|
12/2021
|
|
997
|
|
|
1,021
|
|
|
0.1
|
|
|
997
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.94%
|
|
12/2021
|
|
739
|
|
|
766
|
|
|
—
|
|
|
739
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.98%
|
|
12/2021
|
|
40
|
|
|
41
|
|
|
—
|
|
|
40
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Dental Holdings Corporation
|
One stop
|
|
L + 6.00%
|
(b)
|
|
7.84%
|
|
02/2020
|
|
10,198
|
|
|
10,242
|
|
|
0.4
|
|
|
8,669
|
|
||||
Dental Holdings Corporation*
|
One stop
|
|
L + 6.00%
|
(b)
|
|
7.84%
|
|
02/2020
|
|
1,629
|
|
|
1,636
|
|
|
0.1
|
|
|
1,384
|
|
||||
Dental Holdings Corporation
|
One stop
|
|
L + 6.00%
|
(a)(b)
|
|
7.82%
|
|
02/2020
|
|
1,274
|
|
|
1,277
|
|
|
0.1
|
|
|
1,035
|
|
||||
Elite Dental Partners LLC*
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2023
|
|
14,108
|
|
|
13,969
|
|
|
0.6
|
|
|
12,979
|
|
||||
Elite Dental Partners LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2023
|
|
1,870
|
|
|
1,859
|
|
|
0.1
|
|
|
1,721
|
|
||||
Elite Dental Partners LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2023
|
|
1,753
|
|
|
1,742
|
|
|
0.1
|
|
|
1,613
|
|
||||
Elite Dental Partners LLC#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2023
|
|
1,672
|
|
|
1,661
|
|
|
0.1
|
|
|
1,537
|
|
||||
Elite Dental Partners LLC#!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2023
|
|
1,603
|
|
|
1,593
|
|
|
0.1
|
|
|
1,474
|
|
||||
Elite Dental Partners LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.05%
|
|
06/2023
|
|
200
|
|
|
198
|
|
|
—
|
|
|
184
|
|
||||
Elite Dental Partners LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
||||
ERG Buyer, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
05/2024
|
|
19,279
|
|
|
19,219
|
|
|
0.8
|
|
|
18,316
|
|
||||
ERG Buyer, LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
05/2024
|
|
140
|
|
|
134
|
|
|
—
|
|
|
126
|
|
||||
ERG Buyer, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
||||
eSolutions, Inc.^*#+!~
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.30%
|
|
03/2022
|
|
74,048
|
|
|
75,091
|
|
|
3.3
|
|
|
74,048
|
|
||||
eSolutions, Inc.
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
03/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Excelligence Learning Corporation^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.99%
|
|
04/2023
|
|
10,142
|
|
|
9,807
|
|
|
0.4
|
|
|
9,128
|
|
||||
Eyecare Services Partners Holdings LLC+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.16%
|
|
05/2023
|
|
18,083
|
|
|
18,197
|
|
|
0.8
|
|
|
17,721
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.16%
|
|
05/2023
|
|
7,931
|
|
|
8,094
|
|
|
0.4
|
|
|
7,772
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2023
|
|
6,945
|
|
|
7,096
|
|
|
0.3
|
|
|
6,807
|
|
||||
Eyecare Services Partners Holdings LLC*+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2023
|
|
2,372
|
|
|
2,422
|
|
|
0.1
|
|
|
2,325
|
|
||||
Eyecare Services Partners Holdings LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.16%
|
|
05/2023
|
|
2,022
|
|
|
2,056
|
|
|
0.1
|
|
|
1,982
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2023
|
|
1,522
|
|
|
1,554
|
|
|
0.1
|
|
|
1,492
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2023
|
|
1,125
|
|
|
1,150
|
|
|
0.1
|
|
|
1,103
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2023
|
|
991
|
|
|
1,013
|
|
|
—
|
|
|
971
|
|
||||
Eyecare Services Partners Holdings LLC*+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.16%
|
|
05/2023
|
|
640
|
|
|
651
|
|
|
—
|
|
|
628
|
|
||||
Eyecare Services Partners Holdings LLC
|
One stop
|
|
L + 6.25%
|
(a)(c)
|
|
8.18%
|
|
05/2023
|
|
300
|
|
|
298
|
|
|
—
|
|
|
292
|
|
||||
G & H Wire Company, Inc.^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
09/2023
|
|
5,965
|
|
|
5,965
|
|
|
0.3
|
|
|
5,965
|
|
||||
G & H Wire Company, Inc.
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Immucor, Inc.+
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.94%
|
|
06/2021
|
|
3,585
|
|
|
3,652
|
|
|
0.2
|
|
|
3,579
|
|
||||
Joerns Healthcare, LLC^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.91%
|
|
08/2024
|
|
535
|
|
|
507
|
|
|
—
|
|
|
523
|
|
||||
Joerns Healthcare, LLC^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.91%
|
|
08/2024
|
|
514
|
|
|
506
|
|
|
—
|
|
|
503
|
|
||||
Katena Holdings, Inc.^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
06/2021
|
|
12,830
|
|
|
12,968
|
|
|
0.6
|
|
|
12,830
|
|
||||
Katena Holdings, Inc.^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
06/2021
|
|
1,253
|
|
|
1,267
|
|
|
0.1
|
|
|
1,253
|
|
||||
Katena Holdings, Inc.+
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
06/2021
|
|
937
|
|
|
928
|
|
|
—
|
|
|
937
|
|
||||
Katena Holdings, Inc.
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
06/2021
|
|
858
|
|
|
866
|
|
|
—
|
|
|
858
|
|
||||
Katena Holdings, Inc.
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
06/2021
|
|
80
|
|
|
81
|
|
|
—
|
|
|
80
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Krueger-Gilbert Health Physics, LLC#!~
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
05/2025
|
|
$
|
2,377
|
|
|
$
|
2,363
|
|
|
0.1
|
|
%
|
$
|
2,377
|
|
|
Krueger-Gilbert Health Physics, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
05/2025
|
|
1,122
|
|
|
1,167
|
|
|
0.1
|
|
|
1,122
|
|
||||
Krueger-Gilbert Health Physics, LLC
|
Senior loan
|
|
L + 4.75%
|
(b)
|
|
6.59%
|
|
05/2025
|
|
421
|
|
|
419
|
|
|
—
|
|
|
421
|
|
||||
Krueger-Gilbert Health Physics, LLC
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Lombart Brothers, Inc.^*#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2023
|
|
29,181
|
|
|
29,588
|
|
|
1.3
|
|
|
29,181
|
|
||||
Lombart Brothers, Inc.^(8)(9)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2023
|
|
3,142
|
|
|
3,185
|
|
|
0.1
|
|
|
3,142
|
|
||||
Lombart Brothers, Inc.
|
One stop
|
|
P + 5.00%
|
(f)
|
|
9.75%
|
|
04/2023
|
|
116
|
|
|
115
|
|
|
—
|
|
|
116
|
|
||||
Lombart Brothers, Inc.(8)(9)
|
One stop
|
|
L + 6.25%
|
(c)(f)
|
|
8.84%
|
|
04/2023
|
|
14
|
|
|
14
|
|
|
—
|
|
|
14
|
|
||||
MD Now Holdings, Inc.+
|
One stop
|
|
L + 5.00%
|
(c)
|
|
6.94%
|
|
08/2024
|
|
14,654
|
|
|
14,838
|
|
|
0.7
|
|
|
14,654
|
|
||||
MD Now Holdings, Inc.(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
MD Now Holdings, Inc.(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
MWD Management, LLC & MWD Services, Inc.*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
06/2023
|
|
7,070
|
|
|
7,057
|
|
|
0.3
|
|
|
7,000
|
|
||||
MWD Management, LLC & MWD Services, Inc.^
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
06/2023
|
|
4,551
|
|
|
4,651
|
|
|
0.2
|
|
|
4,505
|
|
||||
MWD Management, LLC & MWD Services, Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
||||
MWD Management, LLC & MWD Services, Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
||||
Oliver Street Dermatology Holdings, LLC(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
19,296
|
|
|
17,761
|
|
|
0.6
|
|
|
13,801
|
|
||||
Oliver Street Dermatology Holdings, LLC*(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
2,239
|
|
|
1,933
|
|
|
0.1
|
|
|
1,601
|
|
||||
Oliver Street Dermatology Holdings, LLC(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
2,122
|
|
|
1,944
|
|
|
0.1
|
|
|
1,517
|
|
||||
Oliver Street Dermatology Holdings, LLC^+(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
1,606
|
|
|
1,386
|
|
|
0.1
|
|
|
1,149
|
|
||||
Oliver Street Dermatology Holdings, LLC*+(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
1,419
|
|
|
1,225
|
|
|
0.1
|
|
|
1,015
|
|
||||
Oliver Street Dermatology Holdings, LLC*+(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
1,235
|
|
|
1,066
|
|
|
—
|
|
|
884
|
|
||||
Oliver Street Dermatology Holdings, LLC^+(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
962
|
|
|
831
|
|
|
—
|
|
|
688
|
|
||||
Oliver Street Dermatology Holdings, LLC*+(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
834
|
|
|
720
|
|
|
—
|
|
|
597
|
|
||||
Oliver Street Dermatology Holdings, LLC#+!~(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
515
|
|
|
444
|
|
|
—
|
|
|
368
|
|
||||
Oliver Street Dermatology Holdings, LLC(7)
|
One stop
|
|
L + 6.25%
|
(c)(f)
|
|
8.19%
|
|
05/2022
|
|
292
|
|
|
269
|
|
|
—
|
|
|
210
|
|
||||
Oliver Street Dermatology Holdings, LLC^(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
98
|
|
|
89
|
|
|
—
|
|
|
70
|
|
||||
Oliver Street Dermatology Holdings, LLC*(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
88
|
|
|
82
|
|
|
—
|
|
|
64
|
|
||||
Oliver Street Dermatology Holdings, LLC^(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
70
|
|
|
63
|
|
|
—
|
|
|
50
|
|
||||
Oliver Street Dermatology Holdings, LLC^(7)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
05/2022
|
|
64
|
|
|
59
|
|
|
—
|
|
|
46
|
|
||||
ONsite Mammography, LLC#!~
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.55%
|
|
11/2023
|
|
5,827
|
|
|
5,900
|
|
|
0.3
|
|
|
5,827
|
|
||||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.55%
|
|
11/2023
|
|
1,029
|
|
|
1,029
|
|
|
0.1
|
|
|
1,029
|
|
||||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.55%
|
|
11/2023
|
|
100
|
|
|
102
|
|
|
—
|
|
|
100
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.18%
|
|
08/2021
|
|
19,279
|
|
|
19,557
|
|
|
0.9
|
|
|
19,279
|
|
||||
Pinnacle Treatment Centers, Inc.#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.18%
|
|
08/2021
|
|
714
|
|
|
726
|
|
|
—
|
|
|
714
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.18%
|
|
08/2021
|
|
346
|
|
|
357
|
|
|
—
|
|
|
346
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.18%
|
|
08/2021
|
|
188
|
|
|
192
|
|
|
—
|
|
|
188
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
P + 5.00%
|
(c)(f)
|
|
9.01%
|
|
08/2021
|
|
140
|
|
|
141
|
|
|
—
|
|
|
140
|
|
||||
Pinnacle Treatment Centers, Inc.^
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.18%
|
|
08/2021
|
|
108
|
|
|
110
|
|
|
—
|
|
|
108
|
|
||||
PPT Management Holdings, LLC+
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.69% cash/0.75% PIK
|
|
12/2022
|
|
24,525
|
|
|
22,576
|
|
|
1.0
|
|
|
21,332
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.69% cash/0.75% PIK
|
|
12/2022
|
|
302
|
|
|
287
|
|
|
—
|
|
|
262
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.69% cash/0.75% PIK
|
|
12/2022
|
|
178
|
|
|
169
|
|
|
—
|
|
|
156
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.69% cash/0.75% PIK
|
|
12/2022
|
|
86
|
|
|
76
|
|
|
—
|
|
|
76
|
|
||||
PPT Management Holdings, LLC(5)
|
One stop
|
|
L + 6.75%
|
(a)
|
|
7.69% cash/0.75% PIK
|
|
12/2022
|
|
16
|
|
|
(14
|
)
|
|
—
|
|
|
(38
|
)
|
||||
Pyramid Healthcare, Inc.*+
|
One stop
|
|
L + 6.50%
|
(b)
|
|
8.35%
|
|
08/2020
|
|
2,660
|
|
|
2,657
|
|
|
0.1
|
|
|
2,660
|
|
||||
Pyramid Healthcare, Inc.
|
One stop
|
|
L + 6.50%
|
(b)(c)(f)
|
|
8.43%
|
|
08/2020
|
|
335
|
|
|
343
|
|
|
—
|
|
|
335
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Pyramid Healthcare, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.41%
|
|
08/2020
|
|
$
|
113
|
|
|
$
|
112
|
|
|
—
|
|
%
|
$
|
113
|
|
|
Pyramid Healthcare, Inc.
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
08/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Riverchase MSO, LLC*
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
10/2022
|
|
9,695
|
|
|
9,861
|
|
|
0.4
|
|
|
9,695
|
|
||||
Riverchase MSO, LLC
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
10/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
RXH Buyer Corporation^*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
09/2021
|
|
27,742
|
|
|
28,071
|
|
|
1.2
|
|
|
27,742
|
|
||||
RXH Buyer Corporation*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.69%
|
|
09/2021
|
|
3,139
|
|
|
3,177
|
|
|
0.1
|
|
|
3,139
|
|
||||
RXH Buyer Corporation
|
One stop
|
|
L + 5.75%
|
(c)(f)
|
|
8.58%
|
|
09/2021
|
|
158
|
|
|
159
|
|
|
—
|
|
|
158
|
|
||||
SLMP, LLC^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
05/2023
|
|
12,042
|
|
|
12,139
|
|
|
0.5
|
|
|
12,042
|
|
||||
SLMP, LLC^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
05/2023
|
|
5,798
|
|
|
6,028
|
|
|
0.3
|
|
|
5,798
|
|
||||
SLMP, LLC
|
Subordinated debt
|
|
N/A
|
|
|
7.50% PIK
|
|
05/2027
|
|
223
|
|
|
229
|
|
|
—
|
|
|
223
|
|
||||
SLMP, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
SLMP, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
||||
Spear Education, LLC^
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
02/2020
|
|
7,943
|
|
|
7,943
|
|
|
0.4
|
|
|
7,943
|
|
||||
Spear Education, LLC*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
02/2020
|
|
248
|
|
|
248
|
|
|
—
|
|
|
248
|
|
||||
Spear Education, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
02/2020
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Summit Behavioral Healthcare, LLC^
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.66%
|
|
10/2023
|
|
11,036
|
|
|
10,940
|
|
|
0.5
|
|
|
10,705
|
|
||||
Summit Behavioral Healthcare, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.66%
|
|
10/2023
|
|
180
|
|
|
179
|
|
|
—
|
|
|
175
|
|
||||
Summit Behavioral Healthcare, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.66%
|
|
10/2023
|
|
144
|
|
|
147
|
|
|
—
|
|
|
143
|
|
||||
WHCG Management, LLC*
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
03/2023
|
|
6,240
|
|
|
6,363
|
|
|
0.3
|
|
|
6,240
|
|
||||
WHCG Management, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
03/2023
|
|
998
|
|
|
991
|
|
|
0.1
|
|
|
998
|
|
||||
WHCG Management, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
03/2023
|
|
70
|
|
|
73
|
|
|
—
|
|
|
70
|
|
||||
WHCG Management, LLC(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
03/2023
|
|
—
|
|
|
(17
|
)
|
|
—
|
|
|
—
|
|
||||
WIRB-Copernicus Group, Inc.^*#!~
|
Senior loan
|
|
L + 4.25%
|
|
|
5.87%
|
|
08/2022
|
|
24,520
|
|
|
25,030
|
|
|
1.1
|
|
|
24,520
|
|
||||
WIRB-Copernicus Group, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
08/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
WIRB-Copernicus Group, Inc.
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
08/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
765,771
|
|
|
762,351
|
|
|
33.3
|
|
|
737,023
|
|
||||
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
1A Smart Start LLC#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
02/2022
|
|
1,385
|
|
|
1,406
|
|
|
0.1
|
|
|
1,385
|
|
||||
CST Buyer Company^#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.55%
|
|
10/2025
|
|
11,001
|
|
|
10,888
|
|
|
0.5
|
|
|
11,001
|
|
||||
CST Buyer Company
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
10/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Plano Molding Company, LLC^+
|
One stop
|
|
L + 7.50%
|
(a)
|
|
9.30%
|
|
05/2021
|
|
14,712
|
|
|
14,669
|
|
|
0.6
|
|
|
14,123
|
|
||||
|
|
|
|
|
|
|
|
|
|
27,098
|
|
|
26,963
|
|
|
1.2
|
|
|
26,509
|
|
||||
Hotels, Motels, Inns, and Gaming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Davidson Hotel Company, LLC+
|
One stop
|
|
L + 5.25%
|
(a)
|
|
6.96%
|
|
07/2024
|
|
8,523
|
|
|
8,459
|
|
|
0.4
|
|
|
8,523
|
|
||||
Davidson Hotel Company, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
6.96%
|
|
07/2024
|
|
1,077
|
|
|
1,077
|
|
|
0.1
|
|
|
1,077
|
|
||||
Davidson Hotel Company, LLC
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Davidson Hotel Company, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
9,600
|
|
|
9,523
|
|
|
0.5
|
|
|
9,600
|
|
||||
Insurance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Captive Resources Midco, LLC^*#+!~
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
05/2025
|
|
54,770
|
|
|
54,952
|
|
|
2.5
|
|
|
54,770
|
|
||||
Captive Resources Midco, LLC
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
05/2025
|
|
1,450
|
|
|
1,435
|
|
|
0.1
|
|
|
1,450
|
|
||||
Captive Resources Midco, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(25
|
)
|
|
—
|
|
|
—
|
|
||||
Integrity Marketing Acquisition, LLC#+!~
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.67%
|
|
08/2025
|
|
2,489
|
|
|
2,490
|
|
|
0.1
|
|
|
2,489
|
|
||||
Integrity Marketing Acquisition, LLC
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.79%
|
|
08/2025
|
|
550
|
|
|
546
|
|
|
—
|
|
|
550
|
|
||||
Integrity Marketing Acquisition, LLC
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Insurance - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Integrity Marketing Acquisition, LLC(5)
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
08/2025
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
J.S. Held Holdings, LLC#+!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
7.94%
|
|
07/2025
|
|
3,015
|
|
|
3,029
|
|
|
0.1
|
|
|
3,015
|
|
||||
J.S. Held Holdings, LLC
|
One stop
|
|
P + 5.00%
|
(f)
|
|
9.75%
|
|
07/2025
|
|
72
|
|
|
65
|
|
|
—
|
|
|
72
|
|
||||
J.S. Held Holdings, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(36
|
)
|
|
—
|
|
|
—
|
|
||||
Orchid Underwriters Agency, LLC#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.30%
|
|
12/2024
|
|
4,220
|
|
|
4,281
|
|
|
0.2
|
|
|
4,220
|
|
||||
Orchid Underwriters Agency, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Orchid Underwriters Agency, LLC(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
RSC Acquisition, Inc.#+!~
|
One stop
|
|
L + 5.50%
|
(b)(c)
|
|
7.41%
|
|
10/2026
|
|
23,964
|
|
|
23,496
|
|
|
1.1
|
|
|
23,484
|
|
||||
RSC Acquisition, Inc.
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
10/2026
|
|
107
|
|
|
96
|
|
|
—
|
|
|
96
|
|
||||
RSC Acquisition, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
10/2026
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
90,637
|
|
|
90,324
|
|
|
4.1
|
|
|
90,145
|
|
||||
Leisure, Amusement, Motion Pictures, Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
CR Fitness Holdings, LLC#+!~
|
Senior loan
|
|
L + 4.00%
|
(b)
|
|
5.85%
|
|
07/2025
|
|
2,014
|
|
|
2,027
|
|
|
0.1
|
|
|
2,014
|
|
||||
CR Fitness Holdings, LLC
|
Senior loan
|
|
L + 4.00%
|
(b)
|
|
5.85%
|
|
07/2025
|
|
67
|
|
|
61
|
|
|
—
|
|
|
67
|
|
||||
CR Fitness Holdings, LLC
|
Senior loan
|
|
L + 4.00%
|
(b)(c)
|
|
5.97%
|
|
07/2025
|
|
18
|
|
|
16
|
|
|
—
|
|
|
18
|
|
||||
EOS Fitness Opco Holdings, LLC*
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
01/2025
|
|
8,741
|
|
|
8,875
|
|
|
0.4
|
|
|
8,741
|
|
||||
EOS Fitness Opco Holdings, LLC
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.69%
|
|
01/2025
|
|
668
|
|
|
681
|
|
|
—
|
|
|
668
|
|
||||
EOS Fitness Opco Holdings, LLC
|
One stop
|
|
P + 3.75%
|
(f)
|
|
8.50%
|
|
01/2025
|
|
12
|
|
|
11
|
|
|
—
|
|
|
12
|
|
||||
PADI Holdco, Inc.*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
04/2024
|
|
21,988
|
|
|
22,247
|
|
|
1.0
|
|
|
21,769
|
|
||||
PADI Holdco, Inc.#+!~(8)(9)
|
One stop
|
|
E + 5.50%
|
(g)
|
|
5.50%
|
|
04/2024
|
|
20,796
|
|
|
21,175
|
|
|
0.9
|
|
|
20,430
|
|
||||
PADI Holdco, Inc.#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.29%
|
|
04/2024
|
|
801
|
|
|
793
|
|
|
—
|
|
|
793
|
|
||||
PADI Holdco, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2023
|
|
—
|
|
|
1
|
|
|
—
|
|
|
(3
|
)
|
||||
PADI Holdco, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Planet Fit Indy 10 LLC+
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.19%
|
|
07/2025
|
|
16,786
|
|
|
16,684
|
|
|
0.8
|
|
|
16,786
|
|
||||
Planet Fit Indy 10 LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.14%
|
|
07/2025
|
|
2,331
|
|
|
2,388
|
|
|
0.1
|
|
|
2,331
|
|
||||
Planet Fit Indy 10 LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.17%
|
|
07/2025
|
|
1,058
|
|
|
1,050
|
|
|
0.1
|
|
|
1,058
|
|
||||
Planet Fit Indy 10 LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.18%
|
|
07/2025
|
|
200
|
|
|
199
|
|
|
—
|
|
|
200
|
|
||||
Self Esteem Brands, LLC^*
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
02/2022
|
|
30,835
|
|
|
31,371
|
|
|
1.4
|
|
|
30,835
|
|
||||
Self Esteem Brands, LLC
|
Senior loan
|
|
P + 3.25%
|
(f)
|
|
8.00%
|
|
02/2022
|
|
237
|
|
|
232
|
|
|
—
|
|
|
237
|
|
||||
Sunshine Sub, LLC#!~
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
05/2024
|
|
13,024
|
|
|
13,144
|
|
|
0.6
|
|
|
13,024
|
|
||||
Sunshine Sub, LLC
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
05/2024
|
|
5,697
|
|
|
5,919
|
|
|
0.3
|
|
|
5,697
|
|
||||
Sunshine Sub, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Teaching Company, The*
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.65%
|
|
07/2023
|
|
17,878
|
|
|
18,103
|
|
|
0.8
|
|
|
17,878
|
|
||||
Teaching Company, The
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Titan Fitness, LLC*+
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.44%
|
|
02/2025
|
|
30,547
|
|
|
31,063
|
|
|
1.4
|
|
|
30,547
|
|
||||
Titan Fitness, LLC
|
One stop
|
|
P + 3.75%
|
(f)
|
|
8.50%
|
|
02/2025
|
|
60
|
|
|
58
|
|
|
—
|
|
|
60
|
|
||||
Titan Fitness, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
02/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2024
|
|
8,504
|
|
|
8,573
|
|
|
0.4
|
|
|
8,504
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)(f)
|
|
7.30%
|
|
09/2024
|
|
1,114
|
|
|
1,132
|
|
|
0.1
|
|
|
1,114
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2024
|
|
846
|
|
|
880
|
|
|
—
|
|
|
846
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.24%
|
|
09/2024
|
|
80
|
|
|
80
|
|
|
—
|
|
|
80
|
|
||||
|
|
|
|
|
|
|
|
|
|
184,302
|
|
|
186,758
|
|
|
8.4
|
|
|
183,704
|
|
||||
Oil and Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Drilling Info Holdings, Inc.*#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
07/2025
|
|
36,317
|
|
|
36,925
|
|
|
1.6
|
|
|
36,317
|
|
||||
Drilling Info Holdings, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Oil and Gas - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Drilling Info Holdings, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2025
|
|
$
|
—
|
|
|
$
|
(9
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
36,317
|
|
|
36,914
|
|
|
1.6
|
|
|
36,317
|
|
||||
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Georgica Pine Clothiers, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
11/2023
|
|
10,309
|
|
|
10,455
|
|
|
0.5
|
|
|
10,206
|
|
||||
Georgica Pine Clothiers, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
11/2023
|
|
6,462
|
|
|
6,560
|
|
|
0.3
|
|
|
6,397
|
|
||||
Georgica Pine Clothiers, LLC+
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
11/2023
|
|
1,000
|
|
|
990
|
|
|
—
|
|
|
990
|
|
||||
Georgica Pine Clothiers, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
11/2023
|
|
898
|
|
|
913
|
|
|
—
|
|
|
889
|
|
||||
Georgica Pine Clothiers, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
11/2023
|
|
630
|
|
|
642
|
|
|
—
|
|
|
624
|
|
||||
Georgica Pine Clothiers, LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.25%
|
|
11/2023
|
|
20
|
|
|
20
|
|
|
—
|
|
|
18
|
|
||||
IMPLUS Footwear, LLC#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2024
|
|
30,385
|
|
|
30,867
|
|
|
1.4
|
|
|
30,385
|
|
||||
IMPLUS Footwear, LLC#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2024
|
|
5,189
|
|
|
5,272
|
|
|
0.2
|
|
|
5,189
|
|
||||
IMPLUS Footwear, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
04/2024
|
|
748
|
|
|
777
|
|
|
—
|
|
|
748
|
|
||||
Orthotics Holdings, Inc.*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
05/2020
|
|
11,707
|
|
|
11,733
|
|
|
0.5
|
|
|
11,473
|
|
||||
Orthotics Holdings, Inc.*(8)(9)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
7.80%
|
|
05/2020
|
|
1,920
|
|
|
1,924
|
|
|
0.1
|
|
|
1,881
|
|
||||
Orthotics Holdings, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2020
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
WU Holdco, Inc. #!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
03/2026
|
|
3,009
|
|
|
3,100
|
|
|
0.1
|
|
|
3,009
|
|
||||
WU Holdco, Inc.
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.44%
|
|
03/2026
|
|
58
|
|
|
60
|
|
|
—
|
|
|
58
|
|
||||
WU Holdco, Inc.
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
03/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
72,335
|
|
|
73,312
|
|
|
3.1
|
|
|
71,867
|
|
||||
Personal, Food and Miscellaneous Services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Blue River Pet Care, LLC+
|
One stop
|
|
L + 5.00%
|
(a)(c)
|
|
7.04%
|
|
07/2026
|
|
25,572
|
|
|
25,650
|
|
|
1.1
|
|
|
25,572
|
|
||||
Blue River Pet Care, LLC
|
One stop
|
|
L + 5.00%
|
(a)(c)
|
|
6.89%
|
|
08/2025
|
|
348
|
|
|
344
|
|
|
—
|
|
|
348
|
|
||||
Blue River Pet Care, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
07/2026
|
|
—
|
|
|
(123
|
)
|
|
—
|
|
|
—
|
|
||||
Captain D's, LLC^
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.44%
|
|
12/2023
|
|
6,006
|
|
|
6,060
|
|
|
0.3
|
|
|
6,006
|
|
||||
Captain D's, LLC
|
Senior loan
|
|
P + 3.50%
|
(b)(f)
|
|
7.45%
|
|
12/2023
|
|
49
|
|
|
50
|
|
|
—
|
|
|
49
|
|
||||
Clarkson Eyecare LLC*#+!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
52,800
|
|
|
53,778
|
|
|
2.4
|
|
|
52,800
|
|
||||
Clarkson Eyecare LLC#+!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
6,686
|
|
|
6,750
|
|
|
0.3
|
|
|
6,686
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.02%
|
|
04/2021
|
|
3,004
|
|
|
2,990
|
|
|
0.1
|
|
|
3,004
|
|
||||
Clarkson Eyecare LLC#!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
1,233
|
|
|
1,259
|
|
|
0.1
|
|
|
1,233
|
|
||||
Clarkson Eyecare LLC#!~
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
150
|
|
|
147
|
|
|
—
|
|
|
150
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
37
|
|
|
36
|
|
|
—
|
|
|
37
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
32
|
|
|
32
|
|
|
—
|
|
|
32
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.05%
|
|
04/2021
|
|
31
|
|
|
31
|
|
|
—
|
|
|
31
|
|
||||
Clarkson Eyecare LLC(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
(12
|
)
|
|
—
|
|
|
—
|
|
||||
Encorevet Group LLC(5)
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
||||
Encorevet Group LLC(5)
|
Senior loan
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
(5
|
)
|
||||
Imperial Optical Midco Inc.#!~
|
One stop
|
|
L + 5.25%
|
(b)
|
|
7.10%
|
|
08/2023
|
|
3,641
|
|
|
3,698
|
|
|
0.2
|
|
|
3,641
|
|
||||
Imperial Optical Midco Inc.*
|
One stop
|
|
L + 5.25%
|
(b)
|
|
7.09%
|
|
08/2023
|
|
2,839
|
|
|
2,814
|
|
|
0.1
|
|
|
2,839
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 5.25%
|
(b)
|
|
7.10%
|
|
08/2023
|
|
1,930
|
|
|
1,988
|
|
|
0.1
|
|
|
1,930
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 5.25%
|
(b)
|
|
7.09%
|
|
08/2023
|
|
1,257
|
|
|
1,294
|
|
|
0.1
|
|
|
1,257
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 5.25%
|
(b)
|
|
7.10%
|
|
08/2023
|
|
1,144
|
|
|
1,178
|
|
|
0.1
|
|
|
1,144
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 5.25%
|
(b)
|
|
7.09%
|
|
08/2023
|
|
332
|
|
|
329
|
|
|
—
|
|
|
332
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 5.25%
|
(b)(c)
|
|
7.12%
|
|
08/2023
|
|
191
|
|
|
187
|
|
|
—
|
|
|
191
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 5.25%
|
(b)(c)
|
|
7.10%
|
|
08/2023
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
||||
Midwest Veterinary Partners, LLC+
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
07/2025
|
|
4,306
|
|
|
4,231
|
|
|
0.2
|
|
|
4,306
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Personal, Food and Miscellaneous Services - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Midwest Veterinary Partners, LLC
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.55%
|
|
07/2025
|
|
$
|
156
|
|
|
$
|
155
|
|
|
—
|
|
%
|
$
|
156
|
|
|
Midwest Veterinary Partners, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(49
|
)
|
|
—
|
|
|
—
|
|
||||
PPV Intermediate Holdings II, LLC
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.61%
|
|
05/2020
|
|
3,551
|
|
|
3,603
|
|
|
0.2
|
|
|
3,551
|
|
||||
PPV Intermediate Holdings II, LLC
|
One stop
|
|
N/A
|
|
|
7.90% PIK
|
|
05/2023
|
|
22
|
|
|
23
|
|
|
—
|
|
|
22
|
|
||||
PPV Intermediate Holdings II, LLC
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Ruby Slipper Cafe LLC, The*
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.44%
|
|
01/2023
|
|
1,081
|
|
|
1,077
|
|
|
0.1
|
|
|
1,081
|
|
||||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.44%
|
|
01/2023
|
|
979
|
|
|
995
|
|
|
—
|
|
|
979
|
|
||||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.44%
|
|
01/2023
|
|
10
|
|
|
10
|
|
|
—
|
|
|
10
|
|
||||
Southern Veterinary Partners, LLC*#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2025
|
|
26,795
|
|
|
27,848
|
|
|
1.2
|
|
|
26,527
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2025
|
|
120
|
|
|
119
|
|
|
—
|
|
|
119
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2025
|
|
114
|
|
|
113
|
|
|
—
|
|
|
113
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2025
|
|
112
|
|
|
111
|
|
|
—
|
|
|
111
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
05/2023
|
|
94
|
|
|
93
|
|
|
—
|
|
|
92
|
|
||||
Southern Veterinary Partners, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
||||
Veterinary Specialists of North America, LLC*
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
04/2025
|
|
41,969
|
|
|
43,619
|
|
|
1.9
|
|
|
41,969
|
|
||||
Veterinary Specialists of North America, LLC
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
04/2025
|
|
2,893
|
|
|
2,887
|
|
|
0.1
|
|
|
2,893
|
|
||||
Veterinary Specialists of North America, LLC
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
04/2025
|
|
1,456
|
|
|
1,515
|
|
|
0.1
|
|
|
1,456
|
|
||||
Veterinary Specialists of North America, LLC
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.05%
|
|
04/2025
|
|
108
|
|
|
106
|
|
|
—
|
|
|
108
|
|
||||
Wetzel's Pretzels, LLC*
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.55%
|
|
09/2021
|
|
16,977
|
|
|
17,230
|
|
|
0.8
|
|
|
16,977
|
|
||||
Wetzel's Pretzels, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.55%
|
|
09/2021
|
|
60
|
|
|
61
|
|
|
—
|
|
|
60
|
|
||||
|
|
|
|
|
|
|
|
|
|
208,135
|
|
|
212,265
|
|
|
9.5
|
|
|
207,849
|
|
||||
Printing and Publishing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brandmuscle, Inc.^
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
6.94%
|
|
12/2021
|
|
1,135
|
|
|
1,157
|
|
|
0.1
|
|
|
1,141
|
|
||||
Messenger, LLC#+!~
|
One stop
|
|
L + 6.00%
|
(a)(f)
|
|
7.79%
|
|
08/2023
|
|
9,122
|
|
|
9,226
|
|
|
0.4
|
|
|
9,122
|
|
||||
Messenger, LLC
|
One stop
|
|
P + 5.00%
|
(f)
|
|
9.75%
|
|
08/2023
|
|
36
|
|
|
36
|
|
|
—
|
|
|
36
|
|
||||
Messenger, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
10,293
|
|
|
10,417
|
|
|
0.5
|
|
|
10,299
|
|
||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
2nd Ave. LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.30%
|
|
09/2025
|
|
5,959
|
|
|
5,860
|
|
|
0.3
|
|
|
5,959
|
|
||||
2nd Ave. LLC
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
09/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Batteries Plus Holding Corporation
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.55%
|
|
07/2022
|
|
22,039
|
|
|
22,367
|
|
|
1.0
|
|
|
22,039
|
|
||||
Batteries Plus Holding Corporation(5)
|
One stop
|
|
L + 6.75%
|
|
|
N/A(6)
|
|
07/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Boot Barn, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.46%
|
|
06/2023
|
|
7,596
|
|
|
7,758
|
|
|
0.3
|
|
|
7,596
|
|
||||
Cycle Gear, Inc.^+
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
01/2021
|
|
17,739
|
|
|
17,933
|
|
|
0.8
|
|
|
17,739
|
|
||||
Cycle Gear, Inc.^
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
01/2021
|
|
1,291
|
|
|
1,316
|
|
|
0.1
|
|
|
1,291
|
|
||||
DTLR, Inc.^*+
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.41%
|
|
08/2022
|
|
41,706
|
|
|
42,320
|
|
|
1.9
|
|
|
41,706
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
12/2021
|
|
6,280
|
|
|
6,177
|
|
|
0.3
|
|
|
5,966
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
12/2021
|
|
2,525
|
|
|
2,485
|
|
|
0.1
|
|
|
2,399
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
12/2021
|
|
1,299
|
|
|
1,280
|
|
|
0.1
|
|
|
1,234
|
|
||||
Elite Sportswear, L.P.*
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
12/2021
|
|
426
|
|
|
421
|
|
|
—
|
|
|
405
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
12/2021
|
|
197
|
|
|
194
|
|
|
—
|
|
|
187
|
|
||||
Elite Sportswear, L.P.*
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.19%
|
|
12/2021
|
|
188
|
|
|
186
|
|
|
—
|
|
|
179
|
|
||||
Elite Sportswear, L.P.(5)
|
Senior loan
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
(10
|
)
|
|
—
|
|
|
(39
|
)
|
||||
Elite Sportswear, L.P.(5)
|
Senior loan
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Aerospace and Defense - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
NTS Technical Systems
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
$
|
256
|
|
|
—
|
|
%
|
$
|
391
|
|
||
NTS Technical Systems
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
128
|
|
|
—
|
|
|
221
|
|
||||
Whitcraft LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
11
|
|
|
2,285
|
|
|
0.2
|
|
|
3,423
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
4,175
|
|
|
0.2
|
|
|
4,690
|
|
|||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Grease Monkey International, LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
803
|
|
|
1,304
|
|
|
0.1
|
|
|
2,221
|
|
||||
Polk Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
314
|
|
|
—
|
|
|
217
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
508
|
|
|
—
|
|
|
409
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
2,126
|
|
|
0.1
|
|
|
2,847
|
|
|||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Benihana, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
43
|
|
|
699
|
|
|
0.1
|
|
|
882
|
|
||||
C. J. Foods, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
75
|
|
|
—
|
|
|
605
|
|
||||
Cafe Rio Holding, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
603
|
|
|
—
|
|
|
667
|
|
||||
Global ID Corporation
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
603
|
|
|
0.1
|
|
|
843
|
|
||||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
44
|
|
|
217
|
|
|
—
|
|
|
211
|
|
||||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
20
|
|
|
61
|
|
|
—
|
|
|
59
|
|
||||
Mendocino Farms, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
169
|
|
|
770
|
|
|
0.1
|
|
|
826
|
|
||||
Purfoods, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
736
|
|
|
1,222
|
|
|
0.1
|
|
|
1,917
|
|
||||
Rubio's Restaurants, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
945
|
|
|
0.1
|
|
|
864
|
|
||||
SSRG Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
61
|
|
|
—
|
|
|
61
|
|
||||
Wood Fired Holding Corp.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
437
|
|
|
444
|
|
|
—
|
|
|
433
|
|
||||
Wood Fired Holding Corp.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
437
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
5,700
|
|
|
0.5
|
|
|
7,368
|
|
|||||
Buildings and Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brooks Equipment Company, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
10
|
|
|
1,020
|
|
|
0.1
|
|
|
2,361
|
|
||||
Paradigm DKD Group, LLC+
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
184
|
|
|
70
|
|
|
—
|
|
|
48
|
|
||||
Paradigm DKD Group, LLC+
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
37
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Paradigm DKD Group, LLC+
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,041
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
1,090
|
|
|
0.1
|
|
|
2,409
|
|
|||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Flexan, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
137
|
|
|
—
|
|
|
152
|
|
||||
Flexan, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Inhance Technologies Holdings LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
124
|
|
|
—
|
|
|
88
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
261
|
|
|
—
|
|
|
240
|
|
|||||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Inventus Power, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
372
|
|
|
—
|
|
|
20
|
|
||||
Inventus Power, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
88
|
|
|
—
|
|
|
100
|
|
||||
Inventus Power, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
20
|
|
|
—
|
|
|
39
|
|
||||
Inventus Power, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Reladyne, Inc.
|
LP units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
931
|
|
|
0.1
|
|
|
1,152
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
1,411
|
|
|
0.1
|
|
|
1,311
|
|
|||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Accela, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
670
|
|
|
418
|
|
|
—
|
|
|
176
|
|
||||
Agility Recovery Solutions Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
97
|
|
|
604
|
|
|
—
|
|
|
768
|
|
||||
Astute Holdings, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
294
|
|
|
—
|
|
|
369
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Calabrio, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
26
|
|
|
$
|
205
|
|
|
—
|
|
%
|
$
|
220
|
|
||
Caliper Software, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
2,734
|
|
|
0.1
|
|
|
2,972
|
|
||||
Caliper Software, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
221
|
|
|
283
|
|
|
—
|
|
|
370
|
|
||||
Caliper Software, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
37
|
|
|
—
|
|
|
40
|
|
||||
Centrify Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
691
|
|
|
—
|
|
|
370
|
|
||||
Centrify Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
263
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Cloudbees, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
71
|
|
|
466
|
|
|
—
|
|
|
441
|
|
||||
Cloudbees, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
93
|
|
|
181
|
|
|
—
|
|
|
290
|
|
||||
Confluence Technologies, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
412
|
|
|
—
|
|
|
478
|
|
||||
Connexin Software, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
154
|
|
|
192
|
|
|
—
|
|
|
221
|
|
||||
Convercent, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
325
|
|
|
63
|
|
|
—
|
|
|
63
|
|
||||
Digital Guardian, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
356
|
|
|
434
|
|
|
—
|
|
|
329
|
|
||||
Digital Guardian, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
122
|
|
|
225
|
|
|
—
|
|
|
220
|
|
||||
Digital Guardian, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
74
|
|
|
142
|
|
|
—
|
|
|
134
|
|
||||
Digital Guardian, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
67
|
|
|
123
|
|
|
—
|
|
|
144
|
|
||||
Digital Guardian, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
12
|
|
|
33
|
|
|
—
|
|
|
40
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
154
|
|
|
—
|
|
|
493
|
|
||||
GS Acquisitionco, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
291
|
|
|
—
|
|
|
398
|
|
||||
HealthcareSource HR, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
621
|
|
|
0.1
|
|
|
827
|
|
||||
HSI Halo Acquisition, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
264
|
|
|
—
|
|
|
273
|
|
||||
HSI Halo Acquisition, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
284
|
|
|
384
|
|
|
—
|
|
|
422
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
43
|
|
|
—
|
|
|
134
|
|
||||
Internet Truckstop Group LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
408
|
|
|
447
|
|
|
—
|
|
|
454
|
|
||||
Kareo, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
53
|
|
|
162
|
|
|
—
|
|
|
2
|
|
||||
Kareo, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
8
|
|
|
—
|
|
|
9
|
|
||||
Kareo, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
6
|
|
|
—
|
|
|
14
|
|
||||
Maverick Bidco Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
723
|
|
|
—
|
|
|
550
|
|
||||
MetricStream, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
168
|
|
|
263
|
|
|
—
|
|
|
215
|
|
||||
Namely, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
17
|
|
|
28
|
|
|
—
|
|
|
40
|
|
||||
Net Health Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,440
|
|
|
0.1
|
|
|
1,444
|
|
||||
Nexus Brands Group, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
547
|
|
|
—
|
|
|
549
|
|
||||
Onapsis, Inc., Virtual Forge GMBH and Onapsis GMBH
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
9
|
|
|
—
|
|
|
9
|
|
||||
Personify, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
639
|
|
|
828
|
|
|
0.1
|
|
|
937
|
|
||||
Pride Midco, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
2,594
|
|
|
0.1
|
|
|
2,751
|
|
||||
Project Alpha Intermediate Holding, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
964
|
|
|
0.1
|
|
|
1,091
|
|
||||
Project Alpha Intermediate Holding, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
202
|
|
|
329
|
|
|
0.1
|
|
|
902
|
|
||||
Property Brands, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
63
|
|
|
766
|
|
|
0.1
|
|
|
1,108
|
|
||||
RegEd Aquireco, LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
316
|
|
|
—
|
|
|
302
|
|
||||
RegEd Aquireco, LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
21
|
|
|
—
|
|
|
—
|
|
||||
SnapLogic, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
184
|
|
|
458
|
|
|
—
|
|
|
458
|
|
||||
SnapLogic, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
69
|
|
|
27
|
|
|
—
|
|
|
27
|
|
||||
Telesoft Holdings LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
6
|
|
|
—
|
|
|
6
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Vendavo, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,017
|
|
|
$
|
1,017
|
|
|
0.1
|
|
%
|
$
|
1,703
|
|
||
Verisys Corporation
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
579
|
|
|
712
|
|
|
0.1
|
|
|
895
|
|
||||
Vitalyst, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
61
|
|
|
—
|
|
|
62
|
|
||||
Vitalyst, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
7
|
|
|
—
|
|
|
—
|
|
||||
Workforce Software, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
973
|
|
|
0.1
|
|
|
958
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
474
|
|
|
494
|
|
|
—
|
|
|
550
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
84
|
|
|
64
|
|
|
—
|
|
|
24
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
20
|
|
|
26
|
|
|
—
|
|
|
27
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
22,590
|
|
|
1.1
|
|
|
25,280
|
|
|||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Pace Analytical Services, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
700
|
|
|
0.1
|
|
|
1,012
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Appriss Holdings, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
174
|
|
|
—
|
|
|
180
|
|
||||
Diligent Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
414
|
|
|
1,609
|
|
|
0.1
|
|
|
2,075
|
|
||||
Episerver, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
76
|
|
|
807
|
|
|
0.1
|
|
|
792
|
|
||||
ES Acquisition LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
13
|
|
|
—
|
|
|
14
|
|
||||
Project Silverback Holdings Corp.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
6
|
|
|
—
|
|
|
—
|
|
||||
Red Dawn SEI Buyer, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
13
|
|
|
13
|
|
|
—
|
|
|
13
|
|
||||
Silver Peak Systems, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
67
|
|
|
27
|
|
|
—
|
|
|
31
|
|
||||
Sloan Company, Inc., The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
152
|
|
|
—
|
|
|
—
|
|
||||
Sloan Company, Inc., The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
14
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
2,815
|
|
|
0.2
|
|
|
3,105
|
|
|||||
Healthcare, Education and Childcare
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Active Day, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,099
|
|
|
0.1
|
|
|
1,038
|
|
||||
Acuity Eyecare Holdings, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,158
|
|
|
1,334
|
|
|
0.1
|
|
|
1,623
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,119
|
|
|
0.1
|
|
|
1,118
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
6
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aspen Medical Products, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
77
|
|
|
—
|
|
|
77
|
|
||||
BIO18 Borrower, LLC(17)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
591
|
|
|
1,190
|
|
|
0.1
|
|
|
1,332
|
|
||||
BIOVT, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
1,223
|
|
|
0.1
|
|
|
1,603
|
|
||||
CMI Parent Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
240
|
|
|
—
|
|
|
233
|
|
||||
CMI Parent Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
3
|
|
|
—
|
|
|
3
|
|
||||
CRH Healthcare Purchaser, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
429
|
|
|
469
|
|
|
—
|
|
|
510
|
|
||||
DCA Investment Holding, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
13,890
|
|
|
1,619
|
|
|
0.1
|
|
|
1,944
|
|
||||
DCA Investment Holding, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
140
|
|
|
218
|
|
|
—
|
|
|
476
|
|
||||
Deca Dental Management LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,008
|
|
|
1,278
|
|
|
0.1
|
|
|
1,082
|
|
||||
Dental Holdings Corporation
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,277
|
|
|
891
|
|
|
—
|
|
|
13
|
|
||||
Elite Dental Partners LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
737
|
|
|
—
|
|
|
447
|
|
||||
Encore GC Acquisition, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
26
|
|
|
272
|
|
|
—
|
|
|
283
|
|
||||
Encore GC Acquisition, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
26
|
|
|
52
|
|
|
—
|
|
|
150
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Personal and Non Durable Consumer Products (Mfg. Only) - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Massage Envy, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
749
|
|
|
$
|
210
|
|
|
0.1
|
|
%
|
$
|
1,893
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
449
|
|
|
0.1
|
|
|
2,248
|
|
|||||
Personal, Food and Miscellaneous Services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Blue River Pet Care, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
76
|
|
|
—
|
|
|
74
|
|
||||
Captain D's, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
158
|
|
|
156
|
|
|
—
|
|
|
158
|
|
||||
Clarkson Eyecare LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
279
|
|
|
—
|
|
|
499
|
|
||||
Midwest Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
29
|
|
|
—
|
|
|
29
|
|
||||
Midwest Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
PPV Intermediate Holdings II, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
221
|
|
|
211
|
|
|
—
|
|
|
241
|
|
||||
R.G. Barry Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
161
|
|
|
—
|
|
|
134
|
|
||||
Ruby Slipper Cafe LLC, The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
31
|
|
|
373
|
|
|
—
|
|
|
381
|
|
||||
Southern Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
717
|
|
|
—
|
|
|
865
|
|
||||
Southern Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
147
|
|
|
188
|
|
|
—
|
|
|
511
|
|
||||
Wetzel's Pretzels, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
416
|
|
|
—
|
|
|
523
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
2,606
|
|
|
—
|
|
|
3,415
|
|
|||||
Printing and Publishing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brandmuscle, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
334
|
|
|
—
|
|
|
226
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
2nd Ave. LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
653
|
|
|
653
|
|
|
—
|
|
|
653
|
|
||||
Batteries Plus Holding Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
10
|
|
|
1,287
|
|
|
0.1
|
|
|
1,428
|
|
||||
Cycle Gear, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
27
|
|
|
462
|
|
|
—
|
|
|
672
|
|
||||
DTLR, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
411
|
|
|
—
|
|
|
780
|
|
||||
Elite Sportswear, L.P.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
165
|
|
|
—
|
|
|
—
|
|
||||
Feeders Supply Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
400
|
|
|
—
|
|
|
479
|
|
||||
Feeders Supply Company, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Jet Equipment & Tools Ltd.(8)(9)(12)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
948
|
|
|
0.1
|
|
|
1,173
|
|
||||
Paper Source, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
1,387
|
|
|
—
|
|
|
239
|
|
||||
Pet Holdings ULC(8)(12)
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
677
|
|
|
483
|
|
|
—
|
|
|
321
|
|
||||
Pet Supplies Plus, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
144
|
|
|
181
|
|
|
—
|
|
|
209
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
496
|
|
|
—
|
|
|
555
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
101
|
|
|
—
|
|
|
115
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
6,974
|
|
|
0.2
|
|
|
6,624
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/non-affiliate company equity investments
|
|
|
|
|
|
|
|
|
$
|
75,537
|
|
|
3.7
|
|
%
|
$
|
83,198
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/non-affiliate company investments
|
|
|
|
|
|
|
$
|
4,256,722
|
|
|
$
|
4,371,886
|
|
|
192.8
|
|
%
|
$
|
4,298,109
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Non-controlled affiliate company investments(18)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Debt investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Uinta Brewing Company^+(7)(8)
|
One stop
|
|
L + 4.00%
|
(a)
|
|
5.80%
|
|
08/2021
|
|
$
|
962
|
|
|
$
|
927
|
|
|
—
|
|
%
|
$
|
502
|
|
|
Uinta Brewing Company(7)(8)
|
One stop
|
|
L + 4.00%
|
(a)
|
|
5.80%
|
|
08/2021
|
|
288
|
|
|
284
|
|
|
—
|
|
|
181
|
|
||||
|
|
|
|
|
|
|
|
|
|
1,250
|
|
|
1,211
|
|
|
—
|
|
|
683
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Switchfly LLC(8)
|
One stop
|
|
L + 3.00%
|
(c)
|
|
5.10%
|
|
10/2023
|
|
$
|
5,363
|
|
|
$
|
5,155
|
|
|
0.2
|
|
%
|
$
|
4,827
|
|
|
Switchfly LLC(8)
|
One stop
|
|
L + 3.00%
|
(c)
|
|
5.10%
|
|
10/2023
|
|
448
|
|
|
432
|
|
|
—
|
|
|
403
|
|
||||
Switchfly LLC(8)
|
One stop
|
|
L + 3.00%
|
(c)
|
|
5.10%
|
|
10/2023
|
|
34
|
|
|
33
|
|
|
—
|
|
|
30
|
|
||||
Switchfly LLC(8)
|
One stop
|
|
L + 8.50%
|
|
|
N/A(6)
|
|
10/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
5,845
|
|
|
5,620
|
|
|
0.2
|
|
|
5,260
|
|
||||
Mining, Steel, Iron and Non-Precious Metals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Benetech, Inc.+(8)
|
One stop
|
|
L + 11.00%
|
(a)
|
|
10.80% cash/2.00% PIK
|
|
05/2020
|
|
4,200
|
|
|
4,183
|
|
|
0.2
|
|
|
3,360
|
|
||||
Benetech, Inc.(8)
|
One stop
|
|
P + 9.75%
|
(a)(f)
|
|
12.32% cash/2.00% PIK
|
|
05/2020
|
|
449
|
|
|
443
|
|
|
—
|
|
|
209
|
|
||||
|
|
|
|
|
|
|
|
|
|
4,649
|
|
|
4,626
|
|
|
0.2
|
|
|
3,569
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled affiliate company debt investments
|
|
|
|
|
|
|
$
|
11,744
|
|
|
$
|
11,457
|
|
|
0.4
|
|
%
|
$
|
9,512
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Equity Investments(15)(16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Uinta Brewing Company(8)
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
153
|
|
|
$
|
17
|
|
|
—
|
|
%
|
$
|
—
|
|
||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Switchfly LLC(8)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3,418
|
|
|
2,321
|
|
|
0.1
|
|
|
2,574
|
|
||||
Mining, Steel, Iron and Non-Precious Metals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Benetech, Inc.(8)
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
59
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
3
|
|
||
Benetech, Inc.(8)
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
59
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled affiliate company equity investments
|
|
|
|
|
|
|
|
|
$
|
2,338
|
|
|
0.1
|
|
%
|
$
|
2,577
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled affiliate company investments
|
|
|
|
|
|
|
$
|
11,744
|
|
|
$
|
13,795
|
|
|
0.5
|
|
%
|
$
|
12,089
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Controlled affiliate company investments(19)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Debt Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
MMan Acquisition Co.^*+(7)(8)
|
One stop
|
|
N/A
|
|
|
10.00% PIK
|
|
08/2023
|
|
$
|
22,934
|
|
|
$
|
19,862
|
|
|
0.7
|
|
|
$
|
16,516
|
|
|
MMan Acquisition Co.(7)(8)
|
One stop
|
|
N/A
|
|
|
8.00% PIK
|
|
08/2023
|
|
1,358
|
|
|
1,358
|
|
|
0.1
|
|
|
1,317
|
|
||||
|
|
|
|
|
|
|
|
|
|
24,292
|
|
|
21,220
|
|
|
0.8
|
|
|
17,833
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total controlled affiliate company debt investments
|
|
|
|
|
|
|
$
|
24,292
|
|
|
$
|
21,220
|
|
|
0.8
|
|
%
|
$
|
17,833
|
|
||||
Equity investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
MMan Acquisition Co.^*+(8)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
$
|
925
|
|
|
—
|
|
%
|
$
|
1,207
|
|
||
Investment Funds and Vehicles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
GCIC Senior Loan Fund LLC(8)(20)
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
48,356
|
|
|
52,605
|
|
|
2.2
|
|
|
48,614
|
|
||||
Senior Loan Fund LLC(8)(20)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
70,507
|
|
|
70,507
|
|
|
3.2
|
|
|
70,464
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
123,112
|
|
|
5.4
|
|
|
119,078
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total controlled affiliate company equity investments
|
|
|
|
|
|
|
|
|
$
|
124,037
|
|
|
5.4
|
|
%
|
$
|
120,285
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total controlled affiliate company investments
|
|
|
|
|
|
|
$
|
24,292
|
|
|
$
|
145,257
|
|
|
6.2
|
|
%
|
$
|
138,118
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total investments
|
|
|
|
|
|
|
$
|
4,292,758
|
|
|
$
|
4,530,938
|
|
|
199.5
|
|
%
|
$
|
4,448,316
|
|
|
Investment
Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2)
|
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4) |
|||||||||
Money market funds (included in cash and cash equivalents and restricted cash and cash equivalents)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
BlackRock Liquidity Funds T-Fund Institutional Shares (CUSIP 09248U718)
|
1.52% (21)
|
|
|
|
|
|
|
$
|
34,910
|
|
|
1.6
|
|
%
|
$
|
34,910
|
|
|||||||
Total money market funds
|
|
|
|
|
|
$
|
34,910
|
|
|
1.6
|
|
%
|
$
|
34,910
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total investments and money market funds
|
|
|
|
|
|
$
|
4,565,848
|
|
|
201.1
|
|
%
|
$
|
4,483,226
|
|
^
|
|
Denotes that all or a portion of the loan secures the notes offered in the 2014 Debt Securitization (as defined in Note 7).
|
*
|
|
Denotes that all or a portion of the loan secures the notes offered in the 2018 Debt Securitization (as defined in Note 7).
|
#
|
|
Denotes that all or a portion of the loan secures the notes offered in the GCIC 2018 Debt Securitization (as defined in Note 7).
|
+
|
|
Denotes that all or a portion of the loan collateralizes the WF Credit Facility (as defined in Note 7).
|
!
|
|
Denotes that all or a portion of the loan collateralizes the DB Credit Facility (as defined in Note 7).
|
~
|
|
Denotes that all or a portion of the loan collateralizes the MS Credit Facility II (as defined in Note 7).
|
(1)
|
The majority of the investments bear interest at a rate that is permitted to be determined by reference to London Interbank Offered Rate (“LIBOR” or “L”) denominated in U.S. dollars or U.K. pound sterling (“GBP”), Euro Interbank Offered Rate (“EURIBOR” or “E”) or Prime (“P”) and which reset daily, monthly, quarterly, semiannually, or annually. For each, the Company has provided the spread over LIBOR, EURIBOR or Prime and the weighted average current interest rate in effect as of December 31, 2019. Certain investments are subject to a LIBOR, EURIBOR or Prime interest rate floor. For fixed rate loans, a spread above a reference rate is not applicable. Listed below are the index rates as of December 31, 2019, which was the last business day of the period on which LIBOR or EURIBOR was determined. The actual index rate for each loan listed may not be the applicable index rate outstanding as of December 31, 2019, as the loan may have priced or repriced based on an index rate prior to December 31, 2019.
|
(2)
|
For portfolio companies with multiple interest rate contracts, the interest rate shown is a weighted average current interest rate in effect as of December 31, 2019.
|
(3)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(4)
|
The fair value of the investment was valued using significant unobservable inputs. See Note 6. Fair Value Measurements.
|
(5)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par. The negative amortized cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
|
(6)
|
The entire commitment was unfunded as of December 31, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
Loan was on non-accrual status as of December 31, 2019, meaning that the Company has ceased recognizing interest income on the loan.
|
(8)
|
The investment is treated as a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company can not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of December 31, 2019, total non-qualifying assets at fair value represented 8.4% of the Company's total assets calculated in accordance with the 1940 Act.
|
(9)
|
Investment is denominated in foreign currency and is translated into U.S. dollars as of the valuation date or the date of the transaction. See Note 2. Significant Accounting Policies and Recent Accounting Updates - Foreign Currency Transactions.
|
(10)
|
The headquarters of this portfolio company is located in the United Kingdom.
|
(11)
|
The headquarters of this portfolio company is located in Australia.
|
(12)
|
The headquarters of this portfolio company is located in Canada.
|
(13)
|
The headquarters of this portfolio company is located in Luxembourg.
|
(14)
|
The sale of a portion of this loan does not qualify for sale accounting under ASC Topic 860 - Transfers and Servicing ("ASC Topic 860"), and therefore, the asset remains in the Consolidated Schedule of Investments. See Note 7. Borrowings.
|
(15)
|
Equity investments are non-income producing securities unless otherwise noted.
|
(16)
|
Ownership of certain equity investments occurs through a holding company or partnership.
|
(17)
|
The Company holds an equity investment that entitles it to receive preferential dividends.
|
Portfolio Company
|
|
Fair value as of September 30, 2019
|
|
Purchases (cost)(l)
|
|
Redemptions
(cost)
|
|
Transfer in/out (cost)
|
|
Premium amort/
Discount
accretion
|
|
Net change in unrealized
gain/(loss)
|
|
Fair value as of December 31, 2019
|
|
Net realized gain/(loss)
|
|
Interest and
fee income
|
|
Dividend
income
|
||||||||||||||||||||
Benetech, Inc.
|
|
$
|
3,747
|
|
|
$
|
121
|
|
|
$
|
(301
|
)
|
|
$
|
—
|
|
|
$
|
14
|
|
|
$
|
(9
|
)
|
|
$
|
3,572
|
|
|
$
|
—
|
|
|
$
|
168
|
|
|
$
|
—
|
|
Switchfly LLC
|
|
7,783
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
14
|
|
|
37
|
|
|
7,834
|
|
|
—
|
|
|
76
|
|
|
—
|
|
||||||||||
Uinta Brewing Company
|
|
1,045
|
|
|
96
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
(455
|
)
|
|
683
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||
Total Non-Controlled Affiliates
|
|
$
|
12,575
|
|
|
$
|
217
|
|
|
$
|
(301
|
)
|
|
$
|
—
|
|
|
$
|
25
|
|
|
$
|
(427
|
)
|
|
$
|
12,089
|
|
|
$
|
—
|
|
|
$
|
244
|
|
|
$
|
—
|
|
(l)
|
|
Purchases at cost includes amounts related to payment-in-kind (“PIK”) interest capitalized and added to the principal balance of the respective loans.
|
Portfolio Company
|
|
Fair value as of September 30, 2019
|
|
Purchases (cost)
|
|
Redemptions
(cost)
|
|
Transfer in/out (cost)
|
|
Premium amort/
Discount accretion |
|
Net change in unrealized
gain/(loss)
|
|
Fair value as of December 31, 2019
|
|
Net realized gain/(loss)
|
|
Interest and
fee income
|
|
Dividend
income
|
||||||||||||||||||||
Senior Loan Fund LLC(m)
|
|
$
|
74,386
|
|
|
$
|
—
|
|
|
$
|
(4,375
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
453
|
|
|
$
|
70,464
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
GCIC Senior Loan Fund LLC(n)
|
|
49,258
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(644
|
)
|
|
48,614
|
|
|
—
|
|
|
—
|
|
|
1,905
|
|
||||||||||
MMan Acquisition Co.(o)
|
|
—
|
|
|
2,344
|
|
|
—
|
|
|
16,811
|
|
|
139
|
|
|
(254
|
)
|
|
19,040
|
|
|
—
|
|
|
350
|
|
|
—
|
|
||||||||||
Total Controlled Affiliates
|
|
$
|
123,644
|
|
|
$
|
2,344
|
|
|
$
|
(4,375
|
)
|
|
$
|
16,811
|
|
|
$
|
139
|
|
|
$
|
(445
|
)
|
|
$
|
138,118
|
|
|
$
|
—
|
|
|
$
|
350
|
|
|
$
|
1,905
|
|
(m)
|
|
As of December 31, 2019, together with RGA Reinsurance Company (“RGA”), the Company co-invested through Senior Loan Fund LLC (“SLF”). SLF was capitalized as transactions were completed and all portfolio and investment decisions in respect to SLF were approved by the SLF investment committee consisting of two representatives of the Company and RGA (with unanimous approval required from (i) one representative of each of the Company and RGA or (ii) both representatives of each of the Company and RGA). Therefore, although the Company owned more than 25% of the voting securities of SLF, the Company did not have sole control over significant actions of SLF for purposes of the 1940 Act or otherwise.
|
(n)
|
|
As of December 31, 2019, together with Aurora National Life Assurance Company (“Aurora”), the Company co-invested through GCIC Senior Loan Fund (“GCIC SLF”), following the acquisition of GCIC SLF in the merger with GCIC (described in Note 1). GCIC SLF was capitalized as transactions were completed and all portfolio and investment decisions in respect to GCIC SLF were approved by the GCIC SLF investment committee consisting of two representatives of the Company and Aurora (with unanimous approval required from (i) one representative of each of the Company and Aurora or (ii) both representatives of each of the Company and Aurora). Therefore, although the Company owned more than 25% of the voting securities of GCIC SLF, the Company did not have sole control over significant actions of GCIC SLF for purposes of the 1940 Act or otherwise.
|
(o)
|
|
During the three months ended December 31, 2019, the Company's ownership increased to over twenty-five percent of the portfolio company's voting securities.
|
(20)
|
The Company generally receives quarterly profit distributions from its equity investments in SLF and GCIC SLF. For the three months ended December 31, 2019 , the Company did not receive a profit distribution of its equity investment in SLF. For its equity investment in GCIC SLF, the Company received $1,905 for the three months ended December 31, 2019. See Note 4. Investments.
|
(21)
|
The rate shown is the annualized seven-day yield as of December 31, 2019.
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-controlled/non-affiliate company investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
ILC Dover, LP#+!~
|
Senior loan
|
|
L + 4.75%
|
(a)(c)(d)
|
|
6.94%
|
|
12/2023
|
|
$
|
6,617
|
|
|
$
|
6,583
|
|
|
0.3
|
|
%
|
$
|
6,617
|
|
|
NTS Technical Systems^*#+!~
|
One stop
|
|
L + 6.25%
|
(a)(c)
|
|
8.35%
|
|
06/2021
|
|
25,650
|
|
|
25,611
|
|
|
1.2
|
|
|
25,650
|
|
||||
NTS Technical Systems#+!~
|
One stop
|
|
L + 6.25%
|
(a)(c)
|
|
8.35%
|
|
06/2021
|
|
4,210
|
|
|
4,201
|
|
|
0.2
|
|
|
4,210
|
|
||||
NTS Technical Systems(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
06/2021
|
|
—
|
|
|
(40
|
)
|
|
—
|
|
|
—
|
|
||||
Tronair Parent, Inc.^+
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.93%
|
|
09/2023
|
|
726
|
|
|
717
|
|
|
—
|
|
|
682
|
|
||||
Tronair Parent, Inc.
|
Senior loan
|
|
L + 4.50%
|
(c)(f)
|
|
6.96%
|
|
09/2021
|
|
160
|
|
|
157
|
|
|
—
|
|
|
148
|
|
||||
Whitcraft LLC^*+
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
04/2023
|
|
42,099
|
|
|
43,102
|
|
|
1.9
|
|
|
42,099
|
|
||||
Whitcraft LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
04/2023
|
|
8,300
|
|
|
8,292
|
|
|
0.4
|
|
|
8,300
|
|
||||
Whitcraft LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
87,762
|
|
|
88,622
|
|
|
4.0
|
|
|
87,706
|
|
||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Dent Wizard International Corporation#+!~
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
6.05%
|
|
04/2022
|
|
12,338
|
|
|
12,498
|
|
|
0.6
|
|
|
12,338
|
|
||||
Grease Monkey International, LLC^*
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
11/2022
|
|
7,834
|
|
|
7,934
|
|
|
0.4
|
|
|
7,834
|
|
||||
Grease Monkey International, LLC#!~
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
11/2022
|
|
2,394
|
|
|
2,494
|
|
|
0.1
|
|
|
2,394
|
|
||||
Grease Monkey International, LLC#!~
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
11/2022
|
|
1,215
|
|
|
1,267
|
|
|
0.1
|
|
|
1,215
|
|
||||
Grease Monkey International, LLC#+!~
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
11/2022
|
|
1,100
|
|
|
1,144
|
|
|
0.1
|
|
|
1,100
|
|
||||
Grease Monkey International, LLC
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
11/2022
|
|
126
|
|
|
130
|
|
|
—
|
|
|
126
|
|
||||
Grease Monkey International, LLC
|
Senior loan
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
11/2022
|
|
110
|
|
|
111
|
|
|
—
|
|
|
110
|
|
||||
JHCC Holdings LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
09/2025
|
|
15,788
|
|
|
15,475
|
|
|
0.7
|
|
|
15,630
|
|
||||
JHCC Holdings LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2025
|
|
10
|
|
|
9
|
|
|
—
|
|
|
9
|
|
||||
JHCC Holdings LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
09/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
||||
Polk Acquisition Corp.*
|
Senior loan
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2022
|
|
5,185
|
|
|
5,307
|
|
|
0.2
|
|
|
5,081
|
|
||||
Polk Acquisition Corp.
|
Senior loan
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2022
|
|
30
|
|
|
31
|
|
|
—
|
|
|
30
|
|
||||
Power Stop, LLC#+!~
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.85%
|
|
10/2025
|
|
2,871
|
|
|
2,935
|
|
|
0.1
|
|
|
2,871
|
|
||||
Quick Quack Car Wash Holdings, LLC*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.54%
|
|
04/2023
|
|
13,218
|
|
|
13,345
|
|
|
0.6
|
|
|
13,218
|
|
||||
Quick Quack Car Wash Holdings, LLC*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.54%
|
|
04/2023
|
|
2,084
|
|
|
2,169
|
|
|
0.1
|
|
|
2,084
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)(c)
|
|
8.55%
|
|
04/2023
|
|
1,822
|
|
|
1,897
|
|
|
0.1
|
|
|
1,822
|
|
||||
Quick Quack Car Wash Holdings, LLC*
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.54%
|
|
04/2023
|
|
1,392
|
|
|
1,450
|
|
|
0.1
|
|
|
1,392
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.55%
|
|
04/2023
|
|
80
|
|
|
82
|
|
|
—
|
|
|
80
|
|
||||
|
|
|
|
|
|
|
|
|
|
67,597
|
|
|
68,275
|
|
|
3.2
|
|
|
67,331
|
|
||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Abita Brewing Co., L.L.C.+
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.87%
|
|
04/2021
|
|
9,983
|
|
|
10,051
|
|
|
0.5
|
|
|
9,882
|
|
||||
Abita Brewing Co., L.L.C.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(2
|
)
|
||||
BJH Holdings III Corp.#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
08/2025
|
|
46,400
|
|
|
48,003
|
|
|
2.1
|
|
|
45,936
|
|
||||
BJH Holdings III Corp.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
08/2025
|
|
160
|
|
|
151
|
|
|
—
|
|
|
152
|
|
||||
C. J. Foods, Inc.^*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2020
|
|
29,179
|
|
|
30,052
|
|
|
1.3
|
|
|
29,179
|
|
||||
C. J. Foods, Inc.^
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2020
|
|
2,207
|
|
|
2,275
|
|
|
0.1
|
|
|
2,207
|
|
||||
C. J. Foods, Inc.
|
One stop
|
|
L + 6.25%
|
(a)
|
|
8.30%
|
|
05/2020
|
|
592
|
|
|
636
|
|
|
—
|
|
|
592
|
|
||||
Cafe Rio Holding, Inc.^
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.95%
|
|
09/2023
|
|
18,801
|
|
|
19,065
|
|
|
0.9
|
|
|
18,801
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.95%
|
|
09/2023
|
|
2,270
|
|
|
2,367
|
|
|
0.1
|
|
|
2,270
|
|
||||
Cafe Rio Holding, Inc.*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.95%
|
|
09/2023
|
|
1,442
|
|
|
1,503
|
|
|
0.1
|
|
|
1,442
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.95%
|
|
09/2023
|
|
1,273
|
|
|
1,327
|
|
|
0.1
|
|
|
1,273
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Beverage, Food and Tobacco - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
09/2023
|
|
$
|
335
|
|
|
$
|
332
|
|
|
—
|
|
%
|
$
|
335
|
|
|
Cafe Rio Holding, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
0.0785
|
|
09/2023
|
|
183
|
|
|
183
|
|
|
—
|
|
|
183
|
|
||||
Cafe Rio Holding, Inc.
|
One stop
|
|
P + 4.75%
|
(f)
|
|
0.0975
|
|
09/2023
|
|
60
|
|
|
61
|
|
|
—
|
|
|
60
|
|
||||
Fintech Midco, LLC*
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.30%
|
|
08/2024
|
|
24,661
|
|
|
25,093
|
|
|
1.1
|
|
|
24,661
|
|
||||
Fintech Midco, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.30%
|
|
08/2024
|
|
1,142
|
|
|
1,190
|
|
|
0.1
|
|
|
1,142
|
|
||||
Fintech Midco, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Fintech Midco, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Flavor Producers, LLC#!~
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.85%
|
|
12/2023
|
|
5,031
|
|
|
4,903
|
|
|
0.2
|
|
|
4,630
|
|
||||
Flavor Producers, LLC(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
12/2022
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
(10
|
)
|
||||
FWR Holding Corporation^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
08/2023
|
|
9,203
|
|
|
9,334
|
|
|
0.4
|
|
|
9,203
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
08/2023
|
|
1,839
|
|
|
1,916
|
|
|
0.1
|
|
|
1,839
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
08/2023
|
|
1,163
|
|
|
1,211
|
|
|
0.1
|
|
|
1,163
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
08/2023
|
|
368
|
|
|
381
|
|
|
—
|
|
|
368
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
08/2023
|
|
275
|
|
|
285
|
|
|
—
|
|
|
275
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
08/2023
|
|
34
|
|
|
33
|
|
|
—
|
|
|
34
|
|
||||
FWR Holding Corporation
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Global ID Corporation*#+!~
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
11/2021
|
|
11,798
|
|
|
12,028
|
|
|
0.5
|
|
|
11,798
|
|
||||
Global ID Corporation*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
11/2021
|
|
821
|
|
|
854
|
|
|
—
|
|
|
821
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
11/2021
|
|
719
|
|
|
749
|
|
|
—
|
|
|
719
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
11/2021
|
|
494
|
|
|
513
|
|
|
—
|
|
|
494
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
11/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Global ID Corporation
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
11/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Mendocino Farms, LLC
|
One stop
|
|
L + 8.50%
|
(a)
|
|
3.04% cash/7.50% PIK
|
|
06/2023
|
|
767
|
|
|
799
|
|
|
—
|
|
|
767
|
|
||||
Mendocino Farms, LLC
|
One stop
|
|
L + 8.50%
|
(a)
|
|
3.04% cash/7.50% PIK
|
|
06/2023
|
|
604
|
|
|
628
|
|
|
—
|
|
|
604
|
|
||||
Mendocino Farms, LLC(5)
|
One stop
|
|
L + 1.00%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Mid-America Pet Food, L.L.C.^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
12/2021
|
|
22,514
|
|
|
22,992
|
|
|
1.0
|
|
|
22,514
|
|
||||
Mid-America Pet Food, L.L.C.
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
NBC Intermediate, LLC#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)(c)
|
|
6.40%
|
|
09/2023
|
|
2,365
|
|
|
2,402
|
|
|
0.1
|
|
|
2,365
|
|
||||
NBC Intermediate, LLC*
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.45%
|
|
09/2023
|
|
2,309
|
|
|
2,346
|
|
|
0.1
|
|
|
2,309
|
|
||||
NBC Intermediate, LLC^
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.45%
|
|
09/2023
|
|
2,024
|
|
|
2,010
|
|
|
0.1
|
|
|
2,024
|
|
||||
NBC Intermediate, LLC
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
09/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.62%
|
|
05/2021
|
|
16,176
|
|
|
16,457
|
|
|
0.7
|
|
|
16,176
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
543
|
|
|
564
|
|
|
—
|
|
|
543
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
391
|
|
|
407
|
|
|
—
|
|
|
391
|
|
||||
Purfoods, LLC#!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
296
|
|
|
307
|
|
|
—
|
|
|
296
|
|
||||
Purfoods, LLC#!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
296
|
|
|
307
|
|
|
—
|
|
|
296
|
|
||||
Purfoods, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
295
|
|
|
307
|
|
|
—
|
|
|
295
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.59%
|
|
05/2021
|
|
253
|
|
|
257
|
|
|
—
|
|
|
253
|
|
||||
Purfoods, LLC
|
One stop
|
|
N/A
|
|
|
7.00% PIK
|
|
05/2026
|
|
241
|
|
|
246
|
|
|
—
|
|
|
241
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
149
|
|
|
155
|
|
|
—
|
|
|
149
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
48
|
|
|
48
|
|
|
—
|
|
|
48
|
|
||||
Purfoods, LLC
|
One stop
|
|
L + 5.50%
|
(a)(c)
|
|
7.57%
|
|
05/2021
|
|
40
|
|
|
41
|
|
|
—
|
|
|
40
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Beverage, Food and Tobacco - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
$
|
30
|
|
|
$
|
30
|
|
|
—
|
|
%
|
$
|
30
|
|
|
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
28
|
|
|
28
|
|
|
—
|
|
|
28
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
22
|
|
|
22
|
|
|
—
|
|
|
22
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
22
|
|
|
22
|
|
|
—
|
|
|
22
|
|
||||
Purfoods, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2021
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
Rubio's Restaurants, Inc.^*
|
Senior loan
|
|
L + 7.00%
|
(c)
|
|
9.1%
|
|
10/2019
|
|
11,349
|
|
|
11,330
|
|
|
0.5
|
|
|
11,349
|
|
||||
Rubio's Restaurants, Inc.
|
Senior loan
|
|
L + 7.00%
|
(a)(f)
|
|
9.62%
|
|
10/2019
|
|
90
|
|
|
91
|
|
|
—
|
|
|
90
|
|
||||
Wood Fired Holding Corp.*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
12/2023
|
|
14,180
|
|
|
14,451
|
|
|
0.6
|
|
|
14,180
|
|
||||
Wood Fired Holding Corp.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
12/2023
|
|
40
|
|
|
39
|
|
|
—
|
|
|
40
|
|
||||
Wood Fired Holding Corp.
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
245,555
|
|
|
250,822
|
|
|
10.8
|
|
|
244,569
|
|
||||
Broadcasting and Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
TouchTunes Interactive Networks, Inc.^+
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
05/2021
|
|
2,108
|
|
|
2,136
|
|
|
0.1
|
|
|
2,108
|
|
||||
Buildings and Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brooks Equipment Company, LLC^*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.12%
|
|
08/2020
|
|
26,730
|
|
|
26,930
|
|
|
1.2
|
|
|
26,730
|
|
||||
Brooks Equipment Company, LLC*
|
One stop
|
|
L + 5.00%
|
(b)(c)
|
|
7.13%
|
|
08/2020
|
|
668
|
|
|
671
|
|
|
—
|
|
|
668
|
|
||||
Brooks Equipment Company, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2020
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Jensen Hughes, Inc.
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.55%
|
|
03/2024
|
|
1,015
|
|
|
1,058
|
|
|
0.1
|
|
|
1,015
|
|
||||
Jensen Hughes, Inc.+
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.55%
|
|
03/2024
|
|
923
|
|
|
940
|
|
|
—
|
|
|
923
|
|
||||
Jensen Hughes, Inc.
|
Senior loan
|
|
L + 4.50%
|
(a)(f)
|
|
6.55%
|
|
03/2024
|
|
443
|
|
|
462
|
|
|
—
|
|
|
443
|
|
||||
Jensen Hughes, Inc.+
|
Senior loan
|
|
L + 4.50%
|
(a)(c)
|
|
6.54%
|
|
03/2024
|
|
283
|
|
|
287
|
|
|
—
|
|
|
283
|
|
||||
MRI Software LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
41,896
|
|
|
42,320
|
|
|
1.9
|
|
|
41,896
|
|
||||
MRI Software LLC^*+
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
30,692
|
|
|
31,364
|
|
|
1.4
|
|
|
30,692
|
|
||||
MRI Software LLC#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
7,601
|
|
|
7,834
|
|
|
0.3
|
|
|
7,601
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
6,561
|
|
|
6,841
|
|
|
0.3
|
|
|
6,561
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
4,604
|
|
|
4,793
|
|
|
0.2
|
|
|
4,604
|
|
||||
MRI Software LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
3,231
|
|
|
3,369
|
|
|
0.1
|
|
|
3,231
|
|
||||
MRI Software LLC#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
2,068
|
|
|
2,157
|
|
|
0.1
|
|
|
2,068
|
|
||||
MRI Software LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
1,207
|
|
|
1,256
|
|
|
0.1
|
|
|
1,207
|
|
||||
MRI Software LLC^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
696
|
|
|
708
|
|
|
—
|
|
|
696
|
|
||||
MRI Software LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
292
|
|
|
289
|
|
|
—
|
|
|
292
|
|
||||
MRI Software LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
292
|
|
|
290
|
|
|
—
|
|
|
292
|
|
||||
MRI Software LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
192
|
|
|
191
|
|
|
—
|
|
|
192
|
|
||||
MRI Software LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
06/2023
|
|
97
|
|
|
96
|
|
|
—
|
|
|
97
|
|
||||
MRI Software LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
MRI Software LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Paradigm DKD Group, LLC+(7)
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2022
|
|
1,654
|
|
|
1,207
|
|
|
0.1
|
|
|
1,183
|
|
||||
Paradigm DKD Group, LLC(5)(7)
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
N/A(6)
|
|
05/2022
|
|
—
|
|
|
(64
|
)
|
|
—
|
|
|
(64
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
131,145
|
|
|
132,992
|
|
|
5.8
|
|
|
130,610
|
|
||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Flexan, LLC*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
02/2020
|
|
3,306
|
|
|
3,345
|
|
|
0.1
|
|
|
3,306
|
|
||||
Flexan, LLC^
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
02/2020
|
|
1,556
|
|
|
1,575
|
|
|
0.1
|
|
|
1,556
|
|
||||
Flexan, LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.50%
|
|
02/2020
|
|
30
|
|
|
31
|
|
|
—
|
|
|
30
|
|
||||
Inhance Technologies Holdings LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.57%
|
|
07/2024
|
|
12,832
|
|
|
12,982
|
|
|
0.6
|
|
|
12,832
|
|
||||
Inhance Technologies Holdings LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.57%
|
|
07/2024
|
|
855
|
|
|
890
|
|
|
—
|
|
|
855
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Arch Global CCT Holdings Corp.
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2025
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
%
|
$
|
—
|
|
|
Arch Global CCT Holdings Corp.
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2026
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Astute Holdings, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
04/2025
|
|
10,935
|
|
|
11,132
|
|
|
0.5
|
|
|
10,935
|
|
||||
Astute Holdings, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
04/2025
|
|
40
|
|
|
39
|
|
|
—
|
|
|
40
|
|
||||
Astute Holdings, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
AutoQuotes, LLC
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.88%
|
|
11/2024
|
|
9,888
|
|
|
10,056
|
|
|
0.4
|
|
|
9,888
|
|
||||
AutoQuotes, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Axiom Merger Sub Inc.#!~
|
One stop
|
|
L + 5.50%
|
(b)(c)
|
|
7.85%
|
|
04/2026
|
|
5,906
|
|
|
5,969
|
|
|
0.3
|
|
|
5,906
|
|
||||
Axiom Merger Sub Inc.#+!~(8)(9)
|
One stop
|
|
E + 5.75%
|
(g)
|
|
5.75%
|
|
04/2026
|
|
2,442
|
|
|
2,467
|
|
|
0.1
|
|
|
2,378
|
|
||||
Axiom Merger Sub Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2026
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Axiom Merger Sub Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2026
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Bazaarvoice, Inc.*#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
02/2024
|
|
48,613
|
|
|
49,581
|
|
|
2.2
|
|
|
48,613
|
|
||||
Bazaarvoice, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Bearcat Buyer, Inc.#+!~
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.35%
|
|
07/2026
|
|
2,957
|
|
|
2,983
|
|
|
0.1
|
|
|
2,928
|
|
||||
Bearcat Buyer, Inc.#!~
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.35%
|
|
07/2026
|
|
312
|
|
|
309
|
|
|
—
|
|
|
309
|
|
||||
Bearcat Buyer, Inc.
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.35%
|
|
07/2026
|
|
166
|
|
|
167
|
|
|
—
|
|
|
162
|
|
||||
Bearcat Buyer, Inc.
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Bullhorn, Inc.#!~
|
One stop
|
|
L + 6.75%
|
(b)
|
|
8.91%
|
|
11/2022
|
|
5,082
|
|
|
5,094
|
|
|
0.2
|
|
|
5,132
|
|
||||
Bullhorn, Inc.#!~
|
One stop
|
|
L + 6.75%
|
(b)
|
|
8.91%
|
|
11/2022
|
|
1,217
|
|
|
1,220
|
|
|
0.1
|
|
|
1,229
|
|
||||
Calabrio, Inc.#!~
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
06/2025
|
|
9,880
|
|
|
10,058
|
|
|
0.4
|
|
|
9,880
|
|
||||
Calabrio, Inc.
|
One stop
|
|
L + 6.50%
|
(a)(c)
|
|
8.54%
|
|
06/2025
|
|
84
|
|
|
84
|
|
|
—
|
|
|
84
|
|
||||
Caliper Software, Inc.#!~
|
One stop
|
|
L + 6.00%
|
(c)(f)
|
|
8.10%
|
|
11/2025
|
|
26,137
|
|
|
26,698
|
|
|
1.2
|
|
|
26,137
|
|
||||
Caliper Software, Inc.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
11/2023
|
|
284
|
|
|
287
|
|
|
—
|
|
|
284
|
|
||||
Centrify Corporation*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.36%
|
|
08/2024
|
|
23,375
|
|
|
23,422
|
|
|
1.0
|
|
|
22,674
|
|
||||
Centrify Corporation
|
One stop
|
|
P + 5.25%
|
(f)
|
|
10.25%
|
|
08/2024
|
|
300
|
|
|
300
|
|
|
—
|
|
|
292
|
|
||||
Clearwater Analytics, LLC^*
|
One stop
|
|
L + 7.00%
|
(c)
|
|
9.20%
|
|
09/2022
|
|
16,458
|
|
|
16,452
|
|
|
0.7
|
|
|
16,458
|
|
||||
Clearwater Analytics, LLC+
|
One stop
|
|
L + 7.00%
|
(c)
|
|
9.22%
|
|
07/2025
|
|
6,102
|
|
|
6,134
|
|
|
0.3
|
|
|
6,102
|
|
||||
Clearwater Analytics, LLC(5)
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Cloudbees, Inc.
|
One stop
|
|
L + 9.00%
|
(a)(c)
|
|
10.60% cash/0.50% PIK
|
|
05/2023
|
|
4,193
|
|
|
4,240
|
|
|
0.2
|
|
|
4,172
|
|
||||
Cloudbees, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
10.54% cash/0.50% PIK
|
|
08/2021
|
|
1,462
|
|
|
1,482
|
|
|
0.1
|
|
|
1,421
|
|
||||
Cloudbees, Inc.
|
One stop
|
|
L + 8.50%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Confluence Technologies, Inc.
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.55%
|
|
03/2024
|
|
15,470
|
|
|
15,741
|
|
|
0.7
|
|
|
15,470
|
|
||||
Confluence Technologies, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
03/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Connexin Software, Inc.#!~
|
One stop
|
|
L + 8.50%
|
(a)
|
|
10.54%
|
|
02/2024
|
|
7,550
|
|
|
7,637
|
|
|
0.3
|
|
|
7,475
|
|
||||
Connexin Software, Inc.
|
One stop
|
|
L + 8.50%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Conservice, LLC#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
12/2024
|
|
3,794
|
|
|
3,870
|
|
|
0.2
|
|
|
3,794
|
|
||||
Conservice, LLC
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Daxko Acquisition Corporation^*
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
09/2023
|
|
22,173
|
|
|
22,490
|
|
|
1.0
|
|
|
22,173
|
|
||||
Daxko Acquisition Corporation(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
09/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Digital Guardian, Inc.
|
One stop
|
|
L + 9.50%
|
(c)
|
|
8.82% cash/3.00% PIK
|
|
06/2023
|
|
8,470
|
|
|
8,855
|
|
|
0.4
|
|
|
8,896
|
|
||||
Digital Guardian, Inc.
|
Subordinated debt
|
|
N/A
|
|
|
8.00% PIK
|
|
06/2023
|
|
8
|
|
|
6
|
|
|
—
|
|
|
8
|
|
||||
Digital Guardian, Inc.
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
18
|
|
|
—
|
|
|
19
|
|
||||
Digital Guardian, Inc.
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.#+!~
|
Senior loan
|
|
P + 3.00%
|
(c)(f)
|
|
7.09%
|
|
06/2022
|
|
5,107
|
|
|
5,228
|
|
|
0.2
|
|
|
5,107
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
|
Senior loan
|
|
L + 4.00%
|
(a)(c)(f)
|
|
6.04%
|
|
06/2022
|
|
20
|
|
|
19
|
|
|
—
|
|
|
20
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
DISA Holdings Acquisition Subsidiary Corp.
|
Senior loan
|
|
L + 4.00%
|
|
|
N/A(6)
|
|
06/2022
|
|
$
|
—
|
|
|
$
|
4
|
|
|
—
|
|
%
|
$
|
—
|
|
|
E2open, LLC*#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.87%
|
|
11/2024
|
|
86,772
|
|
|
87,841
|
|
|
3.9
|
|
|
86,772
|
|
||||
E2open, LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
||||
EGD Security Systems, LLC^*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.06%
|
|
06/2023
|
|
30,092
|
|
|
30,588
|
|
|
1.4
|
|
|
30,092
|
|
||||
EGD Security Systems, LLC
|
One stop
|
|
L + 5.75%
|
(b)(c)
|
|
8.06%
|
|
06/2023
|
|
644
|
|
|
669
|
|
|
—
|
|
|
644
|
|
||||
EGD Security Systems, LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
EGD Security Systems, LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
GS Acquisitionco, Inc.*#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
54,564
|
|
|
55,059
|
|
|
2.4
|
|
|
53,881
|
|
||||
GS Acquisitionco, Inc.*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
12,886
|
|
|
13,268
|
|
|
0.6
|
|
|
12,725
|
|
||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
3,320
|
|
|
3,419
|
|
|
0.1
|
|
|
3,279
|
|
||||
GS Acquisitionco, Inc.#+!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
3,064
|
|
|
3,155
|
|
|
0.1
|
|
|
3,025
|
|
||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
1,918
|
|
|
1,976
|
|
|
0.1
|
|
|
1,895
|
|
||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
52
|
|
|
50
|
|
|
—
|
|
|
50
|
|
||||
GS Acquisitionco, Inc.
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.80%
|
|
05/2024
|
|
11
|
|
|
10
|
|
|
—
|
|
|
9
|
|
||||
HealthcareSource HR, Inc.*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
05/2023
|
|
34,095
|
|
|
34,208
|
|
|
1.5
|
|
|
34,095
|
|
||||
HealthcareSource HR, Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
HSI Halo Acquisition, Inc.#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.87%
|
|
08/2026
|
|
4,133
|
|
|
4,187
|
|
|
0.2
|
|
|
4,092
|
|
||||
HSI Halo Acquisition, Inc.
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
09/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
HSI Halo Acquisition, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
08/2026
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
(7
|
)
|
||||
Hydraulic Authority III Limited#!~(8)(9)(10)
|
One stop
|
|
L + 6.00%
|
(i)(j)
|
|
7.00%
|
|
11/2025
|
|
12,439
|
|
|
12,686
|
|
|
0.5
|
|
|
12,102
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
One stop
|
|
N/A
|
|
|
11.00% PIK
|
|
11/2028
|
|
179
|
|
|
184
|
|
|
—
|
|
|
175
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
One stop
|
|
L + 6.00%
|
(i)
|
|
8.10%
|
|
11/2025
|
|
24
|
|
|
24
|
|
|
—
|
|
|
24
|
|
||||
ICIMS, Inc.#!~
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.56%
|
|
09/2024
|
|
14,355
|
|
|
14,597
|
|
|
0.7
|
|
|
14,355
|
|
||||
ICIMS, Inc.#!~
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.56%
|
|
09/2024
|
|
4,501
|
|
|
4,595
|
|
|
0.2
|
|
|
4,501
|
|
||||
ICIMS, Inc.(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
09/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
III US Holdings, LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Imprivata, Inc.*#+!~
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
6.10%
|
|
10/2023
|
|
13,185
|
|
|
13,427
|
|
|
0.6
|
|
|
13,185
|
|
||||
Imprivata, Inc.(5)
|
Senior loan
|
|
L + 4.00%
|
|
|
N/A(6)
|
|
10/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Infogix, Inc.*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
04/2024
|
|
7,252
|
|
|
7,419
|
|
|
0.3
|
|
|
7,107
|
|
||||
Infogix, Inc.*+
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
04/2024
|
|
1,119
|
|
|
1,140
|
|
|
0.1
|
|
|
1,096
|
|
||||
Infogix, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
04/2024
|
|
28
|
|
|
27
|
|
|
—
|
|
|
26
|
|
||||
Integral Ad Science, Inc.#!~
|
One stop
|
|
L + 7.25%
|
(a)
|
|
8.05% cash/1.25% PIK
|
|
07/2024
|
|
14,751
|
|
|
15,006
|
|
|
0.7
|
|
|
14,751
|
|
||||
Integral Ad Science, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(4
|
)
|
||||
Integration Appliance, Inc.^*#!~
|
One stop
|
|
L + 7.25%
|
(c)
|
|
9.43%
|
|
08/2023
|
|
68,335
|
|
|
69,389
|
|
|
3.1
|
|
|
68,335
|
|
||||
Integration Appliance, Inc.
|
One stop
|
|
L + 7.25%
|
(a)
|
|
9.29%
|
|
08/2023
|
|
487
|
|
|
482
|
|
|
—
|
|
|
487
|
|
||||
Internet Truckstop Group LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.61%
|
|
04/2025
|
|
22,816
|
|
|
23,521
|
|
|
1.0
|
|
|
22,816
|
|
||||
Internet Truckstop Group LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Invoice Cloud, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
5.43% cash/3.25% PIK
|
|
02/2024
|
|
6,309
|
|
|
6,360
|
|
|
0.3
|
|
|
6,309
|
|
||||
Invoice Cloud, Inc.
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Invoice Cloud, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
02/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
JAMF Holdings, Inc.#!~
|
One stop
|
|
L + 7.00%
|
(c)
|
|
9.18%
|
|
11/2022
|
|
13,559
|
|
|
13,806
|
|
|
0.6
|
|
|
13,559
|
|
||||
JAMF Holdings, Inc.
|
One stop
|
|
L + 7.00%
|
(a)
|
|
9.05%
|
|
11/2022
|
|
36
|
|
|
36
|
|
|
—
|
|
|
36
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
11.04%
|
|
06/2022
|
|
10,273
|
|
|
10,453
|
|
|
0.5
|
|
|
10,350
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
11.04%
|
|
06/2022
|
|
$
|
940
|
|
|
$
|
963
|
|
|
—
|
|
%
|
$
|
948
|
|
|
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
(a)
|
|
11.04%
|
|
06/2022
|
|
753
|
|
|
772
|
|
|
—
|
|
|
759
|
|
||||
Kareo, Inc.
|
One stop
|
|
L + 9.00%
|
|
|
N/A(6)
|
|
06/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Kaseya Traverse Inc*
|
One stop
|
|
L + 6.50%
|
(c)(d)
|
|
7.72% cash/1.00% PIK
|
|
05/2025
|
|
33,149
|
|
|
34,346
|
|
|
1.5
|
|
|
33,149
|
|
||||
Kaseya Traverse Inc
|
One stop
|
|
L + 6.50%
|
(c)(d)
|
|
7.69% cash/1.00% PIK
|
|
05/2025
|
|
498
|
|
|
519
|
|
|
—
|
|
|
498
|
|
||||
Kaseya Traverse Inc
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
05/2025
|
|
52
|
|
|
51
|
|
|
—
|
|
|
52
|
|
||||
Keais Records Service, LLC
|
One stop
|
|
L + 4.50%
|
(a)
|
|
6.54%
|
|
10/2024
|
|
18,076
|
|
|
18,388
|
|
|
0.8
|
|
|
18,076
|
|
||||
Keais Records Service, LLC(5)
|
One stop
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Keais Records Service, LLC
|
One stop
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Learn-it Systems, LLC
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.65%
|
|
03/2025
|
|
2,567
|
|
|
2,631
|
|
|
0.1
|
|
|
2,567
|
|
||||
Learn-it Systems, LLC
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.61%
|
|
03/2025
|
|
33
|
|
|
32
|
|
|
—
|
|
|
33
|
|
||||
Learn-it Systems, LLC
|
Senior loan
|
|
L + 4.50%
|
(a)(c)(f)
|
|
7.04%
|
|
03/2025
|
|
26
|
|
|
26
|
|
|
—
|
|
|
26
|
|
||||
Litera Bidco LLC#+!~
|
One stop
|
|
L + 5.75%
|
(c)(d)
|
|
7.95%
|
|
05/2026
|
|
3,379
|
|
|
3,411
|
|
|
0.2
|
|
|
3,379
|
|
||||
Litera Bidco LLC
|
One stop
|
|
L + 5.75%
|
(c)(d)
|
|
7.96%
|
|
05/2026
|
|
705
|
|
|
735
|
|
|
—
|
|
|
705
|
|
||||
Litera Bidco LLC
|
One stop
|
|
L + 5.75%
|
(c)(d)
|
|
7.96%
|
|
05/2026
|
|
705
|
|
|
734
|
|
|
—
|
|
|
705
|
|
||||
Litera Bidco LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Maverick Bidco Inc.*#!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2023
|
|
39,870
|
|
|
40,173
|
|
|
1.8
|
|
|
39,073
|
|
||||
Maverick Bidco Inc.*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2023
|
|
3,215
|
|
|
3,289
|
|
|
0.1
|
|
|
3,151
|
|
||||
Maverick Bidco Inc.
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.55%
|
|
04/2023
|
|
68
|
|
|
65
|
|
|
—
|
|
|
62
|
|
||||
MetricStream, Inc.
|
One stop
|
|
L + 7.00%
|
(a)
|
|
9.04%
|
|
05/2024
|
|
9,131
|
|
|
9,232
|
|
|
0.4
|
|
|
9,192
|
|
||||
MetricStream, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
1
|
|
|
—
|
|
|
2
|
|
||||
MetricStream, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
12
|
|
|
—
|
|
|
14
|
|
||||
Mindbody, Inc.#!~
|
One stop
|
|
L + 7.00%
|
(a)
|
|
9.06%
|
|
02/2025
|
|
48,351
|
|
|
49,317
|
|
|
2.2
|
|
|
48,351
|
|
||||
Mindbody, Inc.(5)
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
02/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Ministry Brands, LLC+
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
6.04%
|
|
12/2022
|
|
1,460
|
|
|
1,484
|
|
|
0.1
|
|
|
1,460
|
|
||||
Ministry Brands, LLC+
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
6.04%
|
|
12/2022
|
|
836
|
|
|
849
|
|
|
—
|
|
|
836
|
|
||||
Ministry Brands, LLC
|
Senior loan
|
|
L + 4.00%
|
(a)
|
|
6.04%
|
|
12/2022
|
|
381
|
|
|
397
|
|
|
—
|
|
|
381
|
|
||||
MMan Acquisition Co.^*+
|
One stop
|
|
L + 3.50%
|
(c)
|
|
3.26% cash/2.50% PIK
|
|
08/2023
|
|
22,428
|
|
|
19,646
|
|
|
0.8
|
|
|
16,798
|
|
||||
Namely, Inc.#!~
|
One stop
|
|
L + 7.50%
|
(a)
|
|
6.25% cash/1.25% PIK
|
|
06/2024
|
|
3,546
|
|
|
3,589
|
|
|
0.2
|
|
|
3,546
|
|
||||
Namely, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
06/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Namely, Inc.(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
06/2024
|
|
—
|
|
|
(16
|
)
|
|
—
|
|
|
—
|
|
||||
Net Health Acquisition Corp.*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
12/2023
|
|
8,642
|
|
|
8,775
|
|
|
0.4
|
|
|
8,555
|
|
||||
Net Health Acquisition Corp.#+!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
12/2023
|
|
6,914
|
|
|
7,069
|
|
|
0.3
|
|
|
6,845
|
|
||||
Net Health Acquisition Corp.*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
12/2023
|
|
1,207
|
|
|
1,227
|
|
|
0.1
|
|
|
1,195
|
|
||||
Net Health Acquisition Corp.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Netsmart Technologies, Inc.(5)
|
Senior loan
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Nextech Holdings, LLC#+!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
06/2025
|
|
4,052
|
|
|
4,132
|
|
|
0.2
|
|
|
4,052
|
|
||||
Nextech Holdings, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
06/2025
|
|
100
|
|
|
96
|
|
|
—
|
|
|
100
|
|
||||
Nextech Holdings, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(23
|
)
|
|
—
|
|
|
—
|
|
||||
Nexus Brands Group, Inc.*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.12%
|
|
11/2023
|
|
9,474
|
|
|
9,597
|
|
|
0.4
|
|
|
9,474
|
|
||||
Nexus Brands Group, Inc.#+!~(8)(9)
|
One stop
|
|
N/A
|
|
|
7.00%
|
|
11/2023
|
|
7,240
|
|
|
7,396
|
|
|
0.3
|
|
|
7,060
|
|
||||
Nexus Brands Group, Inc.
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
11/2023
|
|
2,007
|
|
|
2,091
|
|
|
0.1
|
|
|
2,007
|
|
||||
Nexus Brands Group, Inc.#!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
11/2023
|
|
1,452
|
|
|
1,513
|
|
|
0.1
|
|
|
1,452
|
|
||||
Nexus Brands Group, Inc.
|
One stop
|
|
L + 6.00%
|
(a)(c)
|
|
8.13%
|
|
11/2023
|
|
160
|
|
|
162
|
|
|
—
|
|
|
160
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Nexus Brands Group, Inc.(8)(9)
|
One stop
|
|
N/A
|
|
|
N/A(6)
|
|
11/2023
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
%
|
$
|
—
|
|
|
Nexus Brands Group, Inc.(5)(8)(9)
|
One stop
|
|
N/A
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Nexus Brands Group, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Personify, Inc.*+
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
09/2024
|
|
15,614
|
|
|
15,933
|
|
|
0.7
|
|
|
15,614
|
|
||||
Personify, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
09/2024
|
|
40
|
|
|
40
|
|
|
—
|
|
|
40
|
|
||||
PlanSource Holdings, Inc.#!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.81%
|
|
04/2025
|
|
9,330
|
|
|
9,516
|
|
|
0.4
|
|
|
9,330
|
|
||||
PlanSource Holdings, Inc.(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Project Power Buyer, LLC#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.86%
|
|
05/2026
|
|
11,613
|
|
|
11,860
|
|
|
0.5
|
|
|
11,613
|
|
||||
Project Power Buyer, LLC(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
20,049
|
|
|
20,296
|
|
|
0.9
|
|
|
20,049
|
|
||||
Property Brands, Inc.*
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
6,720
|
|
|
6,861
|
|
|
0.3
|
|
|
6,720
|
|
||||
Property Brands, Inc.^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
3,276
|
|
|
3,413
|
|
|
0.2
|
|
|
3,276
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
1,438
|
|
|
1,496
|
|
|
0.1
|
|
|
1,438
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
1,218
|
|
|
1,267
|
|
|
0.1
|
|
|
1,218
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
1,200
|
|
|
1,251
|
|
|
0.1
|
|
|
1,200
|
|
||||
Property Brands, Inc.
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
01/2024
|
|
507
|
|
|
527
|
|
|
—
|
|
|
507
|
|
||||
Property Brands, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
01/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Property Brands, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
01/2024
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Qgenda Intermediate Holdings, LLC+
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
06/2025
|
|
15,432
|
|
|
15,453
|
|
|
0.7
|
|
|
15,432
|
|
||||
Qgenda Intermediate Holdings, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
RegEd Aquireco, LLC+
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
12/2024
|
|
11,532
|
|
|
11,527
|
|
|
0.5
|
|
|
11,532
|
|
||||
RegEd Aquireco, LLC
|
Senior loan
|
|
P + 3.25%
|
(f)
|
|
8.25%
|
|
12/2024
|
|
58
|
|
|
58
|
|
|
—
|
|
|
58
|
|
||||
RegEd Aquireco, LLC(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
||||
Saba Software, Inc.^*#+!~
|
Senior loan
|
|
L + 4.50%
|
(b)
|
|
6.59%
|
|
05/2023
|
|
49,189
|
|
|
50,222
|
|
|
2.2
|
|
|
49,189
|
|
||||
Saba Software, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(b)
|
|
6.59%
|
|
05/2023
|
|
11,011
|
|
|
11,140
|
|
|
0.5
|
|
|
11,011
|
|
||||
Saba Software, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
SnapLogic, Inc.
|
One stop
|
|
L + 8.75%
|
(a)
|
|
5.29% cash/5.50% PIK
|
|
09/2024
|
|
5,734
|
|
|
5,650
|
|
|
0.3
|
|
|
5,671
|
|
||||
SnapLogic, Inc.
|
One stop
|
|
L + 3.25%
|
|
|
N/A(6)
|
|
09/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
SnapLogic, Inc.
|
One stop
|
|
L + 3.25%
|
|
|
N/A(6)
|
|
09/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Telesoft, LLC*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.32%
|
|
07/2022
|
|
7,276
|
|
|
7,437
|
|
|
0.3
|
|
|
7,276
|
|
||||
Telesoft, LLC
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
07/2022
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
TI Intermediate Holdings, LLC+
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.54%
|
|
12/2024
|
|
3,553
|
|
|
3,624
|
|
|
0.2
|
|
|
3,553
|
|
||||
TI Intermediate Holdings, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transact Holdings, Inc.#+!~
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
7.01%
|
|
04/2026
|
|
3,110
|
|
|
3,160
|
|
|
0.1
|
|
|
3,094
|
|
||||
Transaction Data Systems, Inc.*#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.30%
|
|
06/2021
|
|
84,331
|
|
|
86,275
|
|
|
3.8
|
|
|
84,331
|
|
||||
Transaction Data Systems, Inc.
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.30%
|
|
06/2021
|
|
130
|
|
|
133
|
|
|
—
|
|
|
130
|
|
||||
Trintech, Inc.^*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.76%
|
|
12/2023
|
|
22,629
|
|
|
23,071
|
|
|
1.0
|
|
|
22,629
|
|
||||
Trintech, Inc.^
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.76%
|
|
12/2023
|
|
9,383
|
|
|
9,625
|
|
|
0.4
|
|
|
9,383
|
|
||||
Trintech, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.69%
|
|
12/2023
|
|
120
|
|
|
122
|
|
|
—
|
|
|
120
|
|
||||
True Commerce, Inc.^#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
11/2023
|
|
15,428
|
|
|
15,776
|
|
|
0.7
|
|
|
15,428
|
|
||||
True Commerce, Inc.+(8)(9)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
11/2023
|
|
2,616
|
|
|
2,735
|
|
|
0.1
|
|
|
2,572
|
|
||||
True Commerce, Inc.(8)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
11/2023
|
|
919
|
|
|
960
|
|
|
—
|
|
|
919
|
|
||||
True Commerce, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Upserve, Inc.#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
07/2023
|
|
5,141
|
|
|
5,222
|
|
|
0.2
|
|
|
5,141
|
|
||||
Upserve, Inc.
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
07/2023
|
|
1,451
|
|
|
1,511
|
|
|
0.1
|
|
|
1,451
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified Conglomerate/Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Upserve, Inc.
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
07/2023
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
%
|
$
|
—
|
|
Vector CS Midco Limited & Cloudsense Ltd.#!~(8)(9)(10)
|
One stop
|
|
L + 7.25%
|
(c)
|
|
4.50% cash/2.75% PIK
|
|
05/2024
|
|
7,608
|
|
|
7,758
|
|
|
0.3
|
|
|
7,322
|
|
||||
Vector CS Midco Limited & Cloudsense Ltd.(5)(8)(9)(10)
|
One stop
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Velocity Technology Solutions, Inc.*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
12/2023
|
|
18,464
|
|
|
18,832
|
|
|
0.8
|
|
|
18,464
|
|
||||
Velocity Technology Solutions, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Vendavo, Inc.*#!~
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.62%
|
|
10/2022
|
|
35,726
|
|
|
35,670
|
|
|
1.6
|
|
|
35,726
|
|
||||
Vendavo, Inc.
|
One stop
|
|
P + 7.25%
|
(f)
|
|
12.50%
|
|
10/2022
|
|
332
|
|
|
328
|
|
|
—
|
|
|
332
|
|
||||
Verisys Corporation*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
01/2023
|
|
8,555
|
|
|
8,736
|
|
|
0.4
|
|
|
8,555
|
|
||||
Verisys Corporation(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
01/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Workforce Software, LLC#!~
|
One stop
|
|
L + 6.50%
|
(c)
|
|
7.76% cash/1.00% PIK
|
|
07/2025
|
|
27,059
|
|
|
27,903
|
|
|
1.2
|
|
|
26,787
|
|
||||
Workforce Software, LLC(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(2
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
1,419,537
|
|
|
1,439,750
|
|
|
63.2
|
|
|
1,409,960
|
|
||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
29,947
|
|
|
30,387
|
|
|
1.3
|
|
|
29,947
|
|
||||
Pace Analytical Services, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
2,785
|
|
|
2,833
|
|
|
0.1
|
|
|
2,785
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
1,668
|
|
|
1,735
|
|
|
0.1
|
|
|
1,668
|
|
||||
Pace Analytical Services, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
1,534
|
|
|
1,565
|
|
|
0.1
|
|
|
1,534
|
|
||||
Pace Analytical Services, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
1,235
|
|
|
1,284
|
|
|
0.1
|
|
|
1,235
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
836
|
|
|
851
|
|
|
—
|
|
|
836
|
|
||||
Pace Analytical Services, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
684
|
|
|
696
|
|
|
—
|
|
|
684
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
566
|
|
|
588
|
|
|
—
|
|
|
566
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
190
|
|
|
197
|
|
|
—
|
|
|
190
|
|
||||
Pace Analytical Services, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2022
|
|
40
|
|
|
39
|
|
|
—
|
|
|
40
|
|
||||
WRE Holding Corp.*
|
Senior loan
|
|
L + 5.00%
|
(a)(c)
|
|
7.25%
|
|
01/2023
|
|
2,300
|
|
|
2,352
|
|
|
0.1
|
|
|
2,300
|
|
||||
WRE Holding Corp.#!~
|
Senior loan
|
|
L + 5.00%
|
(a)(c)
|
|
7.25%
|
|
01/2023
|
|
949
|
|
|
990
|
|
|
—
|
|
|
949
|
|
||||
WRE Holding Corp.
|
Senior loan
|
|
L + 5.00%
|
(a)(c)
|
|
7.25%
|
|
01/2023
|
|
314
|
|
|
327
|
|
|
—
|
|
|
314
|
|
||||
WRE Holding Corp.
|
Senior loan
|
|
L + 5.00%
|
(a)(c)(f)
|
|
7.23%
|
|
01/2023
|
|
28
|
|
|
29
|
|
|
—
|
|
|
28
|
|
||||
|
|
|
|
|
|
|
|
|
|
43,076
|
|
|
43,873
|
|
|
1.8
|
|
|
43,076
|
|
||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Appriss Holdings, Inc.#+!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
06/2026
|
|
25,221
|
|
|
26,050
|
|
|
1.1
|
|
|
25,221
|
|
||||
Appriss Holdings, Inc.(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
Compusearch Software Holdings, Inc.^#+!~
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.35%
|
|
05/2021
|
|
2,979
|
|
|
3,020
|
|
|
0.1
|
|
|
2,979
|
|
||||
Diligent Corporation*+
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
35,807
|
|
|
37,168
|
|
|
1.6
|
|
|
35,807
|
|
||||
Diligent Corporation*#!~
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
25,868
|
|
|
25,670
|
|
|
1.2
|
|
|
25,868
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
12,538
|
|
|
12,841
|
|
|
0.6
|
|
|
12,538
|
|
||||
Diligent Corporation^*
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
11,308
|
|
|
11,675
|
|
|
0.5
|
|
|
11,308
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.73%
|
|
04/2022
|
|
697
|
|
|
723
|
|
|
—
|
|
|
697
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
04/2022
|
|
489
|
|
|
508
|
|
|
—
|
|
|
489
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.64%
|
|
04/2022
|
|
285
|
|
|
287
|
|
|
—
|
|
|
285
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
101
|
|
|
100
|
|
|
—
|
|
|
101
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
80
|
|
|
79
|
|
|
—
|
|
|
80
|
|
||||
Diligent Corporation
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.81%
|
|
04/2022
|
|
39
|
|
|
38
|
|
|
—
|
|
|
39
|
|
||||
Diligent Corporation#!~
|
One stop
|
|
L + 5.50%
|
(c)(d)
|
|
7.56%
|
|
04/2022
|
|
36
|
|
|
35
|
|
|
—
|
|
|
36
|
|
||||
Episerver, Inc.#~!(8)(9)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
6.00%
|
|
10/2024
|
|
20,821
|
|
|
21,208
|
|
|
0.9
|
|
|
20,139
|
|
||||
Episerver, Inc.*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
10/2024
|
|
12,310
|
|
|
12,545
|
|
|
0.6
|
|
|
12,310
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Electronics - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Episerver, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
10/2024
|
|
$
|
—
|
|
|
$
|
(2
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
Gamma Technologies, LLC^*#!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2024
|
|
33,411
|
|
|
33,814
|
|
|
1.5
|
|
|
33,411
|
|
||||
Gamma Technologies, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
SEI, Inc.*
|
Senior loan
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
07/2023
|
|
9,575
|
|
|
9,805
|
|
|
0.4
|
|
|
9,575
|
|
||||
Silver Peak Systems, Inc.
|
One stop
|
|
L + 7.00%
|
(a)
|
|
9.03%
|
|
04/2024
|
|
5,998
|
|
|
6,018
|
|
|
0.3
|
|
|
6,004
|
|
||||
Silver Peak Systems, Inc.
|
One stop
|
|
L + 7.00%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sloan Company, Inc., The+(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.60%
|
|
04/2020
|
|
9,839
|
|
|
8,623
|
|
|
0.3
|
|
|
6,070
|
|
||||
Sloan Company, Inc., The(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.60%
|
|
04/2020
|
|
659
|
|
|
578
|
|
|
—
|
|
|
406
|
|
||||
Sloan Company, Inc., The(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.60%
|
|
04/2020
|
|
297
|
|
|
298
|
|
|
—
|
|
|
303
|
|
||||
Sloan Company, Inc., The(7)
|
One stop
|
|
L + 8.50%
|
(c)
|
|
10.60%
|
|
04/2020
|
|
104
|
|
|
85
|
|
|
—
|
|
|
64
|
|
||||
Sovos Compliance*+
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
04/2024
|
|
19,614
|
|
|
20,308
|
|
|
0.9
|
|
|
19,614
|
|
||||
Sovos Compliance
|
Second lien
|
|
N/A
|
|
|
12.00% PIK
|
|
04/2025
|
|
8,843
|
|
|
9,133
|
|
|
0.4
|
|
|
8,843
|
|
||||
Sovos Compliance
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
04/2024
|
|
1,903
|
|
|
1,972
|
|
|
0.1
|
|
|
1,903
|
|
||||
Sovos Compliance
|
Second lien
|
|
N/A
|
|
|
12.00% PIK
|
|
04/2025
|
|
1,195
|
|
|
1,242
|
|
|
0.1
|
|
|
1,195
|
|
||||
Sovos Compliance
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
04/2024
|
|
768
|
|
|
797
|
|
|
—
|
|
|
768
|
|
||||
Sovos Compliance(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
04/2024
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Watchfire Enterprises, Inc.
|
Second lien
|
|
L + 8.00%
|
(c)
|
|
10.10%
|
|
10/2021
|
|
9,435
|
|
|
9,370
|
|
|
0.4
|
|
|
9,435
|
|
||||
|
|
|
|
|
|
|
|
|
|
250,220
|
|
|
253,981
|
|
|
11.0
|
|
|
245,488
|
|
||||
Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Institutional Shareholder Services#!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.60%
|
|
03/2026
|
|
18,965
|
|
|
19,421
|
|
|
0.8
|
|
|
18,775
|
|
||||
Institutional Shareholder Services
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.60%
|
|
03/2024
|
|
116
|
|
|
111
|
|
|
—
|
|
|
108
|
|
||||
|
|
|
|
|
|
|
|
|
|
19,081
|
|
|
19,532
|
|
|
0.8
|
|
|
18,883
|
|
||||
Grocery
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Teasdale Quality Foods, Inc.+
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
10/2020
|
|
354
|
|
|
348
|
|
|
—
|
|
|
319
|
|
||||
Teasdale Quality Foods, Inc.
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
10/2020
|
|
102
|
|
|
96
|
|
|
—
|
|
|
92
|
|
||||
|
|
|
|
|
|
|
|
|
|
456
|
|
|
444
|
|
|
—
|
|
|
411
|
|
||||
Healthcare, Education and Childcare
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
12/2021
|
|
24,420
|
|
|
24,768
|
|
|
1.1
|
|
|
24,420
|
|
||||
Active Day, Inc.^
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
12/2021
|
|
1,884
|
|
|
1,915
|
|
|
0.1
|
|
|
1,884
|
|
||||
Active Day, Inc.*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
12/2021
|
|
1,215
|
|
|
1,235
|
|
|
0.1
|
|
|
1,215
|
|
||||
Active Day, Inc.
|
Senior loan
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
12/2021
|
|
967
|
|
|
1,006
|
|
|
—
|
|
|
967
|
|
||||
Active Day, Inc.*
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.60%
|
|
12/2021
|
|
839
|
|
|
852
|
|
|
—
|
|
|
839
|
|
||||
Active Day, Inc.
|
One stop
|
|
L + 6.50%
|
(c)(f)
|
|
8.60%
|
|
12/2021
|
|
70
|
|
|
70
|
|
|
—
|
|
|
70
|
|
||||
Active Day, Inc.(5)
|
One stop
|
|
L + 6.50%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.37%
|
|
03/2023
|
|
5,990
|
|
|
6,108
|
|
|
0.3
|
|
|
5,990
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(b)(c)
|
|
8.43%
|
|
03/2023
|
|
5,643
|
|
|
5,799
|
|
|
0.3
|
|
|
5,643
|
|
||||
Acuity Eyecare Holdings, LLC^
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
03/2023
|
|
3,293
|
|
|
3,434
|
|
|
0.1
|
|
|
3,293
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.39%
|
|
03/2023
|
|
1,593
|
|
|
1,656
|
|
|
0.1
|
|
|
1,593
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.42%
|
|
03/2023
|
|
796
|
|
|
830
|
|
|
—
|
|
|
796
|
|
||||
Acuity Eyecare Holdings, LLC
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
03/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
ADCS Clinics Intermediate Holdings, LLC+
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
05/2022
|
|
42,312
|
|
|
42,976
|
|
|
1.9
|
|
|
42,312
|
|
||||
ADCS Clinics Intermediate Holdings, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
05/2022
|
|
212
|
|
|
216
|
|
|
—
|
|
|
212
|
|
||||
ADCS Clinics Intermediate Holdings, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.85%
|
|
05/2022
|
|
164
|
|
|
167
|
|
|
—
|
|
|
164
|
|
||||
ADCS Clinics Intermediate Holdings, LLC*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
05/2022
|
|
62
|
|
|
64
|
|
|
—
|
|
|
62
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
05/2022
|
|
30
|
|
|
30
|
|
|
—
|
|
|
30
|
|
||||
Advanced Pain Management Holdings, Inc.+(7)
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
12/2019
|
|
5,261
|
|
|
3,281
|
|
|
0.1
|
|
|
3,157
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Healthcare, Education and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Advanced Pain Management Holdings, Inc.(7)
|
Senior loan
|
|
L + 8.50%
|
(c)
|
|
10.60%
|
|
12/2019
|
|
$
|
1,823
|
|
|
$
|
3
|
|
|
—
|
|
%
|
$
|
3
|
|
|
Advanced Pain Management Holdings, Inc.+(7)
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
12/2019
|
|
360
|
|
|
225
|
|
|
—
|
|
|
216
|
|
||||
Advanced Pain Management Holdings, Inc.(5)(7)
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
12/2019
|
|
164
|
|
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
||||
Agilitas USA, Inc.*
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.32%
|
|
04/2022
|
|
10,206
|
|
|
10,252
|
|
|
0.5
|
|
|
10,206
|
|
||||
Agilitas USA, Inc.
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.32%
|
|
04/2022
|
|
20
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
Apothecary Products, LLC+
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.70%
|
|
07/2023
|
|
3,086
|
|
|
3,228
|
|
|
0.1
|
|
|
3,086
|
|
||||
Apothecary Products, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC+(7)
|
Senior loan
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
03/2021
|
|
5,403
|
|
|
3,244
|
|
|
0.1
|
|
|
1,149
|
|
||||
Aris Teleradiology Company, LLC(7)
|
Senior loan
|
|
L + 5.50%
|
(b)(c)(d)
|
|
7.66%
|
|
03/2021
|
|
1,084
|
|
|
684
|
|
|
—
|
|
|
220
|
|
||||
Aspen Medical Products, LLC#+!~
|
One stop
|
|
L + 5.25%
|
(a)(c)
|
|
7.30%
|
|
06/2025
|
|
4,303
|
|
|
4,389
|
|
|
0.2
|
|
|
4,303
|
|
||||
Aspen Medical Products, LLC
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
BIO18 Borrower, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.30%
|
|
11/2024
|
|
11,188
|
|
|
11,231
|
|
|
0.5
|
|
|
11,188
|
|
||||
BIO18 Borrower, LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.30%
|
|
11/2024
|
|
66
|
|
|
66
|
|
|
—
|
|
|
66
|
|
||||
BIO18 Borrower, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
BIOVT, LLC^*
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
01/2021
|
|
34,487
|
|
|
35,136
|
|
|
1.6
|
|
|
34,487
|
|
||||
BIOVT, LLC#!~
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
01/2021
|
|
2,094
|
|
|
2,179
|
|
|
0.1
|
|
|
2,094
|
|
||||
BIOVT, LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
01/2021
|
|
1,966
|
|
|
2,045
|
|
|
0.1
|
|
|
1,966
|
|
||||
BIOVT, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
01/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
BIOVT, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
01/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Blades Buyer, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(b)(c)
|
|
6.75%
|
|
08/2025
|
|
2,848
|
|
|
2,879
|
|
|
0.1
|
|
|
2,827
|
|
||||
Blades Buyer, Inc.
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Blades Buyer, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
||||
CLP Healthcare Services, Inc.^
|
Senior loan
|
|
L + 5.25%
|
(c)
|
|
7.37%
|
|
12/2020
|
|
4,762
|
|
|
4,788
|
|
|
0.2
|
|
|
4,762
|
|
||||
CMI Parent Inc.#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
08/2025
|
|
6,700
|
|
|
6,852
|
|
|
0.3
|
|
|
6,634
|
|
||||
CMI Parent Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(4
|
)
|
||||
CRH Healthcare Purchaser, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.60%
|
|
12/2024
|
|
14,011
|
|
|
14,203
|
|
|
0.6
|
|
|
14,011
|
|
||||
CRH Healthcare Purchaser, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
CRH Healthcare Purchaser, Inc.(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
DCA Investment Holding, LLC^*+
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
31,737
|
|
|
32,216
|
|
|
1.4
|
|
|
31,737
|
|
||||
DCA Investment Holding, LLC^*#+!~
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
27,496
|
|
|
28,087
|
|
|
1.2
|
|
|
27,496
|
|
||||
DCA Investment Holding, LLC*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
8,405
|
|
|
8,655
|
|
|
0.4
|
|
|
8,405
|
|
||||
DCA Investment Holding, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
4,074
|
|
|
4,244
|
|
|
0.2
|
|
|
4,074
|
|
||||
DCA Investment Holding, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
3,706
|
|
|
3,860
|
|
|
0.2
|
|
|
3,706
|
|
||||
DCA Investment Holding, LLC*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
2,537
|
|
|
2,643
|
|
|
0.1
|
|
|
2,537
|
|
||||
DCA Investment Holding, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
678
|
|
|
706
|
|
|
—
|
|
|
678
|
|
||||
DCA Investment Holding, LLC
|
One stop
|
|
P + 4.25%
|
(f)
|
|
9.25%
|
|
07/2021
|
|
309
|
|
|
303
|
|
|
—
|
|
|
309
|
|
||||
DCA Investment Holding, LLC*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
300
|
|
|
306
|
|
|
—
|
|
|
300
|
|
||||
DCA Investment Holding, LLC*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2021
|
|
94
|
|
|
95
|
|
|
—
|
|
|
94
|
|
||||
Deca Dental Management LLC^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
12/2021
|
|
11,386
|
|
|
11,690
|
|
|
0.5
|
|
|
11,386
|
|
||||
Deca Dental Management LLC#!~
|
One stop
|
|
L + 6.00%
|
(a)(c)
|
|
8.11%
|
|
12/2021
|
|
1,385
|
|
|
1,423
|
|
|
0.1
|
|
|
1,385
|
|
||||
Deca Dental Management LLC#+!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
12/2021
|
|
999
|
|
|
1,026
|
|
|
0.1
|
|
|
999
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.00%
|
(a)(c)
|
|
8.21%
|
|
12/2021
|
|
741
|
|
|
771
|
|
|
—
|
|
|
741
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.00%
|
(a)(c)
|
|
8.12%
|
|
12/2021
|
|
32
|
|
|
31
|
|
|
—
|
|
|
32
|
|
||||
Deca Dental Management LLC
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
12/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Healthcare, Education, and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Dental Holdings Corporation
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.12%
|
|
02/2020
|
|
$
|
10,226
|
|
|
$
|
10,340
|
|
|
0.5
|
|
%
|
$
|
10,226
|
|
|
Dental Holdings Corporation*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.12%
|
|
02/2020
|
|
1,632
|
|
|
1,651
|
|
|
0.1
|
|
|
1,632
|
|
||||
Dental Holdings Corporation
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.12%
|
|
02/2020
|
|
828
|
|
|
837
|
|
|
—
|
|
|
828
|
|
||||
Elite Dental Partners LLC*
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2023
|
|
14,145
|
|
|
13,994
|
|
|
0.6
|
|
|
13,437
|
|
||||
Elite Dental Partners LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2023
|
|
1,874
|
|
|
1,862
|
|
|
0.1
|
|
|
1,781
|
|
||||
Elite Dental Partners LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2023
|
|
1,757
|
|
|
1,746
|
|
|
0.1
|
|
|
1,669
|
|
||||
Elite Dental Partners LLC#+!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2023
|
|
1,676
|
|
|
1,665
|
|
|
0.1
|
|
|
1,592
|
|
||||
Elite Dental Partners LLC#!~
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2023
|
|
1,607
|
|
|
1,596
|
|
|
0.1
|
|
|
1,527
|
|
||||
Elite Dental Partners LLC
|
One stop
|
|
L + 5.25%
|
(a)
|
|
7.29%
|
|
06/2023
|
|
200
|
|
|
198
|
|
|
—
|
|
|
190
|
|
||||
Elite Dental Partners LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2023
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
||||
ERG Buyer, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
05/2024
|
|
19,330
|
|
|
19,265
|
|
|
0.8
|
|
|
18,749
|
|
||||
ERG Buyer, LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.50%
|
|
05/2024
|
|
20
|
|
|
14
|
|
|
—
|
|
|
12
|
|
||||
ERG Buyer, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
—
|
|
||||
eSolutions, Inc.^*+
|
One stop
|
|
L + 6.50%
|
(a)
|
|
8.54%
|
|
03/2022
|
|
70,456
|
|
|
71,662
|
|
|
3.2
|
|
|
70,456
|
|
||||
eSolutions, Inc.
|
One stop
|
|
L + 6.50%
|
(d)
|
|
8.56%
|
|
03/2022
|
|
100
|
|
|
100
|
|
|
—
|
|
|
100
|
|
||||
Excelligence Learning Corporation^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
04/2023
|
|
10,171
|
|
|
9,808
|
|
|
0.4
|
|
|
9,154
|
|
||||
Eyecare Services Partners Holdings LLC+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
18,129
|
|
|
18,252
|
|
|
0.8
|
|
|
17,766
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
7,951
|
|
|
8,126
|
|
|
0.4
|
|
|
7,792
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
6,964
|
|
|
7,125
|
|
|
0.3
|
|
|
6,825
|
|
||||
Eyecare Services Partners Holdings LLC*+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
2,377
|
|
|
2,432
|
|
|
0.1
|
|
|
2,330
|
|
||||
Eyecare Services Partners Holdings LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.55%
|
|
05/2023
|
|
2,027
|
|
|
2,064
|
|
|
0.1
|
|
|
1,986
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
1,526
|
|
|
1,561
|
|
|
0.1
|
|
|
1,495
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
1,128
|
|
|
1,155
|
|
|
0.1
|
|
|
1,106
|
|
||||
Eyecare Services Partners Holdings LLC*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
994
|
|
|
1,017
|
|
|
—
|
|
|
974
|
|
||||
Eyecare Services Partners Holdings LLC*+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
05/2023
|
|
641
|
|
|
654
|
|
|
—
|
|
|
629
|
|
||||
Eyecare Services Partners Holdings LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.51%
|
|
05/2023
|
|
200
|
|
|
198
|
|
|
—
|
|
|
192
|
|
||||
G & H Wire Company, Inc.^
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
09/2023
|
|
5,980
|
|
|
5,980
|
|
|
0.3
|
|
|
5,980
|
|
||||
G & H Wire Company, Inc.(5)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
09/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Immucor, Inc.+
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
06/2021
|
|
3,594
|
|
|
3,672
|
|
|
0.2
|
|
|
3,598
|
|
||||
Joerns Healthcare, LLC^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.16%
|
|
08/2024
|
|
535
|
|
|
506
|
|
|
—
|
|
|
535
|
|
||||
Joerns Healthcare, LLC^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.16%
|
|
08/2024
|
|
514
|
|
|
506
|
|
|
—
|
|
|
514
|
|
||||
Katena Holdings, Inc.^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
06/2021
|
|
12,863
|
|
|
13,026
|
|
|
0.6
|
|
|
12,863
|
|
||||
Katena Holdings, Inc.^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
06/2021
|
|
1,256
|
|
|
1,273
|
|
|
0.1
|
|
|
1,256
|
|
||||
Katena Holdings, Inc.
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
06/2021
|
|
860
|
|
|
869
|
|
|
—
|
|
|
860
|
|
||||
Katena Holdings, Inc.
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.50%
|
|
06/2021
|
|
80
|
|
|
82
|
|
|
—
|
|
|
80
|
|
||||
Krueger-Gilbert Health Physics, LLC#!~
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.85%
|
|
05/2025
|
|
2,383
|
|
|
2,368
|
|
|
0.1
|
|
|
2,383
|
|
||||
Krueger-Gilbert Health Physics, LLC
|
One stop
|
|
L + 4.75%
|
(b)(c)
|
|
7.02%
|
|
05/2025
|
|
1,125
|
|
|
1,171
|
|
|
0.1
|
|
|
1,125
|
|
||||
Krueger-Gilbert Health Physics, LLC
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Krueger-Gilbert Health Physics, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Lombart Brothers, Inc.^*#+!~(8)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2023
|
|
29,259
|
|
|
29,693
|
|
|
1.3
|
|
|
29,259
|
|
||||
Lombart Brothers, Inc.^(8)(9)
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2023
|
|
3,150
|
|
|
3,196
|
|
|
0.1
|
|
|
3,150
|
|
||||
Lombart Brothers, Inc.
|
One stop
|
|
P + 5.00%
|
(f)
|
|
10.00%
|
|
04/2023
|
|
98
|
|
|
99
|
|
|
—
|
|
|
98
|
|
||||
Lombart Brothers, Inc.(8)(9)
|
One stop
|
|
P + 5.00%
|
(f)
|
|
10.00%
|
|
04/2023
|
|
14
|
|
|
15
|
|
|
—
|
|
|
14
|
|
||||
MD Now Holdings, Inc.+
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
08/2024
|
|
14,690
|
|
|
14,885
|
|
|
0.7
|
|
|
14,690
|
|
||||
MD Now Holdings, Inc.(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
MD Now Holdings, Inc.(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
MWD Management, LLC & MWD Services, Inc.*
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
06/2023
|
|
7,088
|
|
|
7,074
|
|
|
0.3
|
|
|
6,946
|
|
||||
MWD Management, LLC & MWD Services, Inc.^
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
06/2023
|
|
4,564
|
|
|
4,670
|
|
|
0.2
|
|
|
4,472
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Healthcare, Education, and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
MWD Management, LLC & MWD Services, Inc.(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
06/2022
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
|
—
|
|
%
|
$
|
(4
|
)
|
|
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
19,200
|
|
|
17,574
|
|
|
0.6
|
|
|
14,400
|
|
||||
Oliver Street Dermatology Holdings, LLC*
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
2,241
|
|
|
1,916
|
|
|
0.1
|
|
|
1,680
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
2,099
|
|
|
1,912
|
|
|
0.1
|
|
|
1,575
|
|
||||
Oliver Street Dermatology Holdings, LLC^+
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
1,577
|
|
|
1,344
|
|
|
0.1
|
|
|
1,183
|
|
||||
Oliver Street Dermatology Holdings, LLC*+
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
1,393
|
|
|
1,188
|
|
|
0.1
|
|
|
1,045
|
|
||||
Oliver Street Dermatology Holdings, LLC*+
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
1,213
|
|
|
1,034
|
|
|
—
|
|
|
910
|
|
||||
Oliver Street Dermatology Holdings, LLC^+
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
944
|
|
|
805
|
|
|
—
|
|
|
708
|
|
||||
Oliver Street Dermatology Holdings, LLC*+
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
819
|
|
|
698
|
|
|
—
|
|
|
614
|
|
||||
Oliver Street Dermatology Holdings, LLC#+!~
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
505
|
|
|
430
|
|
|
—
|
|
|
379
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
One stop
|
|
L + 7.25%
|
(c)(f)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
289
|
|
|
263
|
|
|
—
|
|
|
215
|
|
||||
Oliver Street Dermatology Holdings, LLC^
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
98
|
|
|
89
|
|
|
—
|
|
|
74
|
|
||||
Oliver Street Dermatology Holdings, LLC*
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
88
|
|
|
81
|
|
|
—
|
|
|
66
|
|
||||
Oliver Street Dermatology Holdings, LLC^
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
70
|
|
|
63
|
|
|
—
|
|
|
52
|
|
||||
Oliver Street Dermatology Holdings, LLC^
|
One stop
|
|
L + 7.25%
|
(c)
|
|
8.35% cash/1.00% PIK
|
|
05/2022
|
|
64
|
|
|
59
|
|
|
—
|
|
|
48
|
|
||||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.79%
|
|
11/2023
|
|
5,842
|
|
|
5,920
|
|
|
0.3
|
|
|
5,842
|
|
||||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.79%
|
|
11/2023
|
|
1,031
|
|
|
1,075
|
|
|
0.1
|
|
|
1,031
|
|
||||
ONsite Mammography, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.79%
|
|
11/2023
|
|
100
|
|
|
102
|
|
|
—
|
|
|
100
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.01%
|
|
08/2021
|
|
19,329
|
|
|
19,650
|
|
|
0.9
|
|
|
19,329
|
|
||||
Pinnacle Treatment Centers, Inc.#+!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.01%
|
|
08/2021
|
|
716
|
|
|
730
|
|
|
—
|
|
|
716
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.01%
|
|
08/2021
|
|
347
|
|
|
360
|
|
|
—
|
|
|
347
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.01%
|
|
08/2021
|
|
188
|
|
|
193
|
|
|
—
|
|
|
188
|
|
||||
Pinnacle Treatment Centers, Inc.^
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.01%
|
|
08/2021
|
|
108
|
|
|
111
|
|
|
—
|
|
|
108
|
|
||||
Pinnacle Treatment Centers, Inc.
|
One stop
|
|
L + 5.75%
|
(c)(f)
|
|
8.53%
|
|
08/2021
|
|
102
|
|
|
103
|
|
|
—
|
|
|
102
|
|
||||
PPT Management Holdings, LLC+
|
One stop
|
|
L + 6.75%
|
(a)(c)
|
|
8.10% cash/0.75% PIK
|
|
12/2022
|
|
24,533
|
|
|
22,536
|
|
|
0.9
|
|
|
20,846
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(a)(c)
|
|
8.10% cash/0.75% PIK
|
|
12/2022
|
|
302
|
|
|
285
|
|
|
—
|
|
|
256
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(a)(c)
|
|
8.10% cash/0.75% PIK
|
|
12/2022
|
|
178
|
|
|
168
|
|
|
—
|
|
|
152
|
|
||||
PPT Management Holdings, LLC
|
One stop
|
|
L + 6.75%
|
(a)(c)
|
|
8.10% cash/0.75% PIK
|
|
12/2022
|
|
86
|
|
|
76
|
|
|
—
|
|
|
74
|
|
||||
PPT Management Holdings, LLC(5)
|
One stop
|
|
L + 6.75%
|
(a)(c)
|
|
8.10% cash/0.75% PIK
|
|
12/2022
|
|
16
|
|
|
(17
|
)
|
|
—
|
|
|
(46
|
)
|
||||
Pyramid Healthcare, Inc.*+
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.78%
|
|
08/2020
|
|
1,459
|
|
|
1,467
|
|
|
0.1
|
|
|
1,459
|
|
||||
Pyramid Healthcare, Inc.
|
One stop
|
|
L + 6.50%
|
(c)(f)
|
|
8.78%
|
|
08/2020
|
|
337
|
|
|
347
|
|
|
—
|
|
|
337
|
|
||||
Pyramid Healthcare, Inc.
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.62%
|
|
08/2020
|
|
113
|
|
|
117
|
|
|
—
|
|
|
113
|
|
||||
Riverchase MSO, LLC*
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
10/2022
|
|
9,720
|
|
|
9,901
|
|
|
0.4
|
|
|
9,720
|
|
||||
Riverchase MSO, LLC
|
Senior loan
|
|
P + 4.75%
|
(f)
|
|
9.75%
|
|
10/2022
|
|
26
|
|
|
26
|
|
|
—
|
|
|
26
|
|
||||
RXH Buyer Corporation^*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
09/2021
|
|
27,814
|
|
|
28,193
|
|
|
1.3
|
|
|
27,814
|
|
||||
RXH Buyer Corporation*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
09/2021
|
|
3,147
|
|
|
3,192
|
|
|
0.1
|
|
|
3,147
|
|
||||
RXH Buyer Corporation
|
One stop
|
|
L + 5.75%
|
(c)(f)
|
|
8.78%
|
|
09/2021
|
|
158
|
|
|
159
|
|
|
—
|
|
|
158
|
|
||||
SLMP, LLC^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
05/2023
|
|
12,073
|
|
|
12,176
|
|
|
0.5
|
|
|
12,073
|
|
||||
SLMP, LLC^
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
05/2023
|
|
5,813
|
|
|
6,060
|
|
|
0.3
|
|
|
5,813
|
|
||||
SLMP, LLC
|
Subordinated debt
|
|
N/A
|
|
|
7.50% PIK
|
|
05/2027
|
|
223
|
|
|
229
|
|
|
—
|
|
|
223
|
|
||||
SLMP, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Healthcare, Education, and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
SLMP, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2023
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
|
—
|
|
%
|
$
|
—
|
|
|
Spear Education, LLC^
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.07%
|
|
12/2019
|
|
7,964
|
|
|
8,098
|
|
|
0.4
|
|
|
7,964
|
|
||||
Spear Education, LLC*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
8.07%
|
|
12/2019
|
|
249
|
|
|
256
|
|
|
—
|
|
|
249
|
|
||||
Spear Education, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
12/2019
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Summit Behavioral Healthcare, LLC^
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.87%
|
|
10/2023
|
|
11,065
|
|
|
10,961
|
|
|
0.5
|
|
|
10,512
|
|
||||
Summit Behavioral Healthcare, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.87%
|
|
10/2023
|
|
180
|
|
|
178
|
|
|
—
|
|
|
171
|
|
||||
Summit Behavioral Healthcare, LLC
|
Senior loan
|
|
L + 4.75%
|
(c)
|
|
6.87%
|
|
10/2023
|
|
144
|
|
|
141
|
|
|
—
|
|
|
136
|
|
||||
WHCG Management, LLC*
|
Senior loan
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
03/2023
|
|
6,256
|
|
|
6,405
|
|
|
0.3
|
|
|
6,256
|
|
||||
WHCG Management, LLC
|
Senior loan
|
|
L + 6.00%
|
(c)
|
|
8.11%
|
|
03/2023
|
|
200
|
|
|
204
|
|
|
—
|
|
|
200
|
|
||||
WHCG Management, LLC(5)
|
Senior loan
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
03/2023
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
||||
WIRB-Copernicus Group, Inc.^*#!~
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.35%
|
|
08/2022
|
|
24,583
|
|
|
25,145
|
|
|
1.1
|
|
|
24,583
|
|
||||
WIRB-Copernicus Group, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
08/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
WIRB-Copernicus Group, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
08/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
752,215
|
|
|
750,240
|
|
|
32.8
|
|
|
726,960
|
|
||||
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
1A Smart Start LLC#+!~
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.54%
|
|
02/2022
|
|
1,389
|
|
|
1,412
|
|
|
0.1
|
|
|
1,389
|
|
||||
CST Buyer Company^
|
One stop
|
|
L + 5.00%
|
(a)
|
|
7.04%
|
|
03/2023
|
|
5,347
|
|
|
5,441
|
|
|
0.2
|
|
|
5,347
|
|
||||
CST Buyer Company
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
03/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Plano Molding Company, LLC^+
|
One stop
|
|
L + 7.00%
|
(a)
|
|
9.04%
|
|
05/2021
|
|
14,748
|
|
|
14,698
|
|
|
0.6
|
|
|
14,158
|
|
||||
|
|
|
|
|
|
|
|
|
|
21,484
|
|
|
21,551
|
|
|
0.9
|
|
|
20,894
|
|
||||
Hotels, Motels, Inns, and Gaming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Davidson Hotel Company, LLC+
|
One stop
|
|
L + 5.25%
|
(a)(c)
|
|
7.29%
|
|
07/2024
|
|
8,544
|
|
|
8,476
|
|
|
0.4
|
|
|
8,459
|
|
||||
Davidson Hotel Company, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
(27
|
)
|
||||
Davidson Hotel Company, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11
|
)
|
||||
Davidson Hotel Company, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
07/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
8,544
|
|
|
8,463
|
|
|
0.4
|
|
|
8,419
|
|
||||
Insurance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Captive Resources Midco, LLC^*#+!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.20%
|
|
05/2025
|
|
54,907
|
|
|
55,075
|
|
|
2.5
|
|
|
54,907
|
|
||||
Captive Resources Midco, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(28
|
)
|
|
—
|
|
|
—
|
|
||||
Captive Resources Midco, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(27
|
)
|
|
—
|
|
|
—
|
|
||||
Integrity Marketing Acquisition, LLC#+!~
|
Senior loan
|
|
L + 5.75%
|
(c)
|
|
7.88%
|
|
08/2025
|
|
2,489
|
|
|
2,490
|
|
|
0.1
|
|
|
2,452
|
|
||||
Integrity Marketing Acquisition, LLC
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Integrity Marketing Acquisition, LLC(5)
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
(12
|
)
|
||||
Integrity Marketing Acquisition, LLC(5)
|
Senior loan
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(8
|
)
|
||||
J.S. Held Holdings, LLC#+!~
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.10%
|
|
07/2025
|
|
2,930
|
|
|
2,944
|
|
|
0.1
|
|
|
2,930
|
|
||||
J.S. Held Holdings, LLC
|
One stop
|
|
P + 5.00%
|
(f)
|
|
10.00%
|
|
07/2025
|
|
28
|
|
|
21
|
|
|
—
|
|
|
28
|
|
||||
J.S. Held Holdings, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(38
|
)
|
|
—
|
|
|
—
|
|
||||
Orchid Underwriters Agency, LLC#+!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.70%
|
|
12/2024
|
|
4,231
|
|
|
4,295
|
|
|
0.2
|
|
|
4,231
|
|
||||
Orchid Underwriters Agency, LLC
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Orchid Underwriters Agency, LLC(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
RSC Acquisition, Inc.#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)(b)(c)(f)
|
|
6.40%
|
|
11/2022
|
|
36,746
|
|
|
38,166
|
|
|
1.7
|
|
|
36,746
|
|
||||
RSC Acquisition, Inc.*
|
Senior loan
|
|
L + 4.25%
|
(b)
|
|
6.40%
|
|
11/2022
|
|
2,280
|
|
|
2,261
|
|
|
0.1
|
|
|
2,280
|
|
||||
RSC Acquisition, Inc.
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
11/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
RSC Acquisition, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
11/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
103,611
|
|
|
105,148
|
|
|
4.7
|
|
|
103,554
|
|
||||
Leisure, Amusement, Motion Pictures, Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
CR Fitness Holdings, LLC#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
07/2025
|
|
2,019
|
|
|
2,033
|
|
|
0.1
|
|
|
2,019
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Leisure, Amusement, Motion Pictures, Entertainment - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
CR Fitness Holdings, LLC
|
Senior loan
|
|
L + 4.25%
|
(c)
|
|
6.55%
|
|
07/2025
|
|
$
|
67
|
|
|
$
|
61
|
|
|
—
|
|
%
|
$
|
67
|
|
|
CR Fitness Holdings, LLC
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
EOS Fitness Opco Holdings, LLC*
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.85%
|
|
01/2025
|
|
8,763
|
|
|
8,904
|
|
|
0.4
|
|
|
8,763
|
|
||||
EOS Fitness Opco Holdings, LLC
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.86%
|
|
01/2025
|
|
334
|
|
|
347
|
|
|
—
|
|
|
334
|
|
||||
EOS Fitness Opco Holdings, LLC
|
One stop
|
|
P + 3.75%
|
(f)
|
|
8.75%
|
|
01/2025
|
|
12
|
|
|
11
|
|
|
—
|
|
|
12
|
|
||||
PADI Holdco, Inc.*
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.86%
|
|
04/2023
|
|
21,989
|
|
|
22,385
|
|
|
1.0
|
|
|
21,989
|
|
||||
PADI Holdco, Inc.#+!~(8)(9)
|
One stop
|
|
E + 5.75%
|
(g)
|
|
5.75%
|
|
04/2023
|
|
20,870
|
|
|
21,387
|
|
|
0.9
|
|
|
19,859
|
|
||||
PADI Holdco, Inc.
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.96%
|
|
04/2022
|
|
182
|
|
|
185
|
|
|
—
|
|
|
182
|
|
||||
Planet Fit Indy 10 LLC+
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2025
|
|
16,828
|
|
|
16,721
|
|
|
0.8
|
|
|
16,828
|
|
||||
Planet Fit Indy 10 LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.46%
|
|
07/2025
|
|
2,337
|
|
|
2,396
|
|
|
0.1
|
|
|
2,337
|
|
||||
Planet Fit Indy 10 LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
07/2025
|
|
30
|
|
|
29
|
|
|
—
|
|
|
30
|
|
||||
Planet Fit Indy 10 LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
||||
Self Esteem Brands, LLC^*
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
02/2022
|
|
30,835
|
|
|
31,428
|
|
|
1.4
|
|
|
30,835
|
|
||||
Self Esteem Brands, LLC
|
Senior loan
|
|
P + 3.25%
|
(f)
|
|
8.25%
|
|
02/2022
|
|
490
|
|
|
485
|
|
|
—
|
|
|
490
|
|
||||
Sunshine Sub, LLC#!~
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
05/2024
|
|
13,057
|
|
|
13,184
|
|
|
0.6
|
|
|
13,057
|
|
||||
Sunshine Sub, LLC
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
05/2024
|
|
5,711
|
|
|
5,946
|
|
|
0.3
|
|
|
5,711
|
|
||||
Sunshine Sub, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
05/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Teaching Company, The*
|
One stop
|
|
L + 4.75%
|
(c)
|
|
6.93%
|
|
07/2023
|
|
17,878
|
|
|
18,119
|
|
|
0.8
|
|
|
17,878
|
|
||||
Teaching Company, The
|
One stop
|
|
L + 4.75%
|
(a)(f)
|
|
6.77%
|
|
07/2023
|
|
24
|
|
|
24
|
|
|
—
|
|
|
24
|
|
||||
Titan Fitness, LLC*
|
One stop
|
|
L + 4.75%
|
(a)(c)
|
|
6.88%
|
|
02/2025
|
|
30,625
|
|
|
31,165
|
|
|
1.4
|
|
|
30,625
|
|
||||
Titan Fitness, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
02/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Titan Fitness, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
02/2025
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2024
|
|
8,525
|
|
|
8,597
|
|
|
0.4
|
|
|
8,525
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2024
|
|
849
|
|
|
884
|
|
|
—
|
|
|
849
|
|
||||
WBZ Investment LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
09/2024
|
|
457
|
|
|
475
|
|
|
—
|
|
|
457
|
|
||||
WBZ Investment LLC
|
One stop
|
|
P + 4.50%
|
(f)
|
|
9.50%
|
|
09/2024
|
|
10
|
|
|
10
|
|
|
—
|
|
|
10
|
|
||||
|
|
|
|
|
|
|
|
|
|
181,892
|
|
|
184,763
|
|
|
8.2
|
|
|
180,881
|
|
||||
Oil and Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Drilling Info Holdings, Inc.*#+!~
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
07/2025
|
|
35,612
|
|
|
36,252
|
|
|
1.6
|
|
|
35,612
|
|
||||
Drilling Info Holdings, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2023
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Drilling Info Holdings, Inc.(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
35,612
|
|
|
36,237
|
|
|
1.6
|
|
|
35,612
|
|
||||
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Georgica Pine Clothiers, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
11/2022
|
|
10,337
|
|
|
10,503
|
|
|
0.5
|
|
|
10,337
|
|
||||
Georgica Pine Clothiers, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
11/2022
|
|
6,479
|
|
|
6,587
|
|
|
0.3
|
|
|
6,479
|
|
||||
Georgica Pine Clothiers, LLC^
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
11/2022
|
|
902
|
|
|
918
|
|
|
—
|
|
|
902
|
|
||||
Georgica Pine Clothiers, LLC*
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
11/2022
|
|
633
|
|
|
645
|
|
|
—
|
|
|
633
|
|
||||
Georgica Pine Clothiers, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.73%
|
|
11/2022
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
||||
IMPLUS Footwear, LLC#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2024
|
|
30,462
|
|
|
30,970
|
|
|
1.4
|
|
|
30,462
|
|
||||
IMPLUS Footwear, LLC#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.41%
|
|
04/2024
|
|
5,202
|
|
|
5,288
|
|
|
0.2
|
|
|
5,202
|
|
||||
IMPLUS Footwear, LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2024
|
|
750
|
|
|
781
|
|
|
—
|
|
|
750
|
|
||||
Orthotics Holdings, Inc.*(8)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
05/2020
|
|
11,738
|
|
|
11,799
|
|
|
0.5
|
|
|
11,504
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Personal and Non Durable Consumer Products (Mfg. Only) - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Orthotics Holdings, Inc.*(8)(9)
|
One stop
|
|
L + 6.00%
|
(a)
|
|
8.04%
|
|
05/2020
|
|
$
|
1,924
|
|
|
$
|
1,934
|
|
|
0.1
|
|
%
|
$
|
1,886
|
|
|
Orthotics Holdings, Inc.(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
05/2020
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
WU Holdco, Inc. #!~
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.60%
|
|
03/2026
|
|
3,016
|
|
|
3,110
|
|
|
0.1
|
|
|
3,016
|
|
||||
WU Holdco, Inc.
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.62%
|
|
03/2026
|
|
58
|
|
|
61
|
|
|
—
|
|
|
58
|
|
||||
WU Holdco, Inc.
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
03/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
71,551
|
|
|
72,645
|
|
|
3.1
|
|
|
71,279
|
|
||||
Personal, Food and Miscellaneous Services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Blue River Pet Care, LLC+
|
One stop
|
|
L + 5.00%
|
(c)(d)
|
|
7.04%
|
|
07/2026
|
|
25,636
|
|
|
25,716
|
|
|
1.1
|
|
|
25,379
|
|
||||
Blue River Pet Care, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
07/2026
|
|
—
|
|
|
(129
|
)
|
|
—
|
|
|
(129
|
)
|
||||
Blue River Pet Care, LLC(5)
|
One stop
|
|
L + 5.00%
|
|
|
N/A(6)
|
|
08/2025
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
||||
Captain D's, LLC^
|
Senior loan
|
|
L + 4.50%
|
(a)(c)
|
|
6.54%
|
|
12/2023
|
|
6,021
|
|
|
6,078
|
|
|
0.3
|
|
|
6,021
|
|
||||
Captain D's, LLC
|
Senior loan
|
|
L + 4.50%
|
(a)(c)(f)
|
|
7.48%
|
|
12/2023
|
|
40
|
|
|
40
|
|
|
—
|
|
|
40
|
|
||||
Clarkson Eyecare LLC*+
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2021
|
|
52,934
|
|
|
54,106
|
|
|
2.3
|
|
|
51,875
|
|
||||
Clarkson Eyecare LLC#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.37%
|
|
04/2021
|
|
6,703
|
|
|
6,778
|
|
|
0.3
|
|
|
6,569
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.38%
|
|
04/2021
|
|
1,512
|
|
|
1,496
|
|
|
0.1
|
|
|
1,430
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2021
|
|
1,236
|
|
|
1,266
|
|
|
0.1
|
|
|
1,211
|
|
||||
Clarkson Eyecare LLC#!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.39%
|
|
04/2021
|
|
150
|
|
|
147
|
|
|
—
|
|
|
147
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2021
|
|
37
|
|
|
36
|
|
|
—
|
|
|
36
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
04/2021
|
|
32
|
|
|
31
|
|
|
—
|
|
|
31
|
|
||||
Clarkson Eyecare LLC
|
One stop
|
|
L + 6.25%
|
(c)(f)
|
|
8.38%
|
|
04/2021
|
|
32
|
|
|
32
|
|
|
—
|
|
|
31
|
|
||||
Clarkson Eyecare LLC(5)
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
(14
|
)
|
|
—
|
|
|
(15
|
)
|
||||
Community Veterinary Partners, LLC^
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
2,205
|
|
|
2,290
|
|
|
0.1
|
|
|
2,205
|
|
||||
Community Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
1,101
|
|
|
1,143
|
|
|
0.1
|
|
|
1,101
|
|
||||
Community Veterinary Partners, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
873
|
|
|
906
|
|
|
—
|
|
|
873
|
|
||||
Community Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
741
|
|
|
770
|
|
|
—
|
|
|
741
|
|
||||
Community Veterinary Partners, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
657
|
|
|
683
|
|
|
—
|
|
|
657
|
|
||||
Community Veterinary Partners, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
585
|
|
|
608
|
|
|
—
|
|
|
585
|
|
||||
Community Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
315
|
|
|
310
|
|
|
—
|
|
|
315
|
|
||||
Community Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
196
|
|
|
200
|
|
|
—
|
|
|
196
|
|
||||
Community Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
10/2021
|
|
50
|
|
|
49
|
|
|
—
|
|
|
50
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 4.75%
|
(b)(c)
|
|
6.87%
|
|
08/2023
|
|
3,650
|
|
|
3,710
|
|
|
0.2
|
|
|
3,614
|
|
||||
Imperial Optical Midco Inc.*
|
One stop
|
|
L + 4.75%
|
(b)
|
|
6.84%
|
|
08/2023
|
|
2,846
|
|
|
2,820
|
|
|
0.1
|
|
|
2,817
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 4.75%
|
(b)(c)
|
|
6.86%
|
|
08/2023
|
|
1,934
|
|
|
1,996
|
|
|
0.1
|
|
|
1,915
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 4.75%
|
(b)
|
|
6.84%
|
|
08/2023
|
|
1,260
|
|
|
1,300
|
|
|
0.1
|
|
|
1,247
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 4.75%
|
(b)(c)
|
|
6.90%
|
|
08/2023
|
|
1,147
|
|
|
1,183
|
|
|
0.1
|
|
|
1,135
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 4.75%
|
(b)
|
|
6.84%
|
|
08/2023
|
|
125
|
|
|
118
|
|
|
—
|
|
|
118
|
|
||||
Imperial Optical Midco Inc.
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Midwest Veterinary Partners, LLC+
|
One stop
|
|
L + 4.75%
|
(a)
|
|
6.79%
|
|
07/2025
|
|
4,317
|
|
|
4,238
|
|
|
0.2
|
|
|
4,274
|
|
||||
Midwest Veterinary Partners, LLC
|
One stop
|
|
L + 4.75%
|
(a)(b)(c)
|
|
6.81%
|
|
07/2025
|
|
136
|
|
|
135
|
|
|
—
|
|
|
134
|
|
||||
Midwest Veterinary Partners, LLC(5)
|
One stop
|
|
L + 4.75%
|
|
|
N/A(6)
|
|
07/2025
|
|
—
|
|
|
(51
|
)
|
|
—
|
|
|
(52
|
)
|
||||
PPV Intermediate Holdings II, LLC
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.56%
|
|
05/2020
|
|
2,309
|
|
|
2,398
|
|
|
0.1
|
|
|
2,309
|
|
||||
PPV Intermediate Holdings II, LLC
|
One stop
|
|
N/A
|
|
|
7.90% PIK
|
|
05/2023
|
|
22
|
|
|
23
|
|
|
—
|
|
|
22
|
|
||||
PPV Intermediate Holdings II, LLC
|
One stop
|
|
P + 4.00%
|
(f)
|
|
9.00%
|
|
05/2023
|
|
18
|
|
|
17
|
|
|
—
|
|
|
18
|
|
||||
Ruby Slipper Cafe LLC, The*
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.60%
|
|
01/2023
|
|
1,084
|
|
|
1,080
|
|
|
0.1
|
|
|
1,084
|
|
||||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.60%
|
|
01/2023
|
|
602
|
|
|
620
|
|
|
—
|
|
|
602
|
|
||||
Ruby Slipper Cafe LLC, The
|
One stop
|
|
L + 7.50%
|
(c)
|
|
9.60%
|
|
01/2023
|
|
10
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Personal, Food and Miscellaneous Services - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
$
|
5,388
|
|
|
$
|
5,410
|
|
|
0.2
|
|
%
|
$
|
5,388
|
|
|
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
3,799
|
|
|
3,959
|
|
|
0.2
|
|
|
3,799
|
|
||||
Southern Veterinary Partners, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
2,358
|
|
|
2,454
|
|
|
0.1
|
|
|
2,358
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.54%
|
|
05/2025
|
|
2,207
|
|
|
2,205
|
|
|
0.1
|
|
|
2,207
|
|
||||
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
2,068
|
|
|
2,152
|
|
|
0.1
|
|
|
2,068
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
1,626
|
|
|
1,693
|
|
|
0.1
|
|
|
1,626
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
1,518
|
|
|
1,581
|
|
|
0.1
|
|
|
1,518
|
|
||||
Southern Veterinary Partners, LLC
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
1,514
|
|
|
1,576
|
|
|
0.1
|
|
|
1,514
|
|
||||
Southern Veterinary Partners, LLC#!~
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
1,291
|
|
|
1,344
|
|
|
0.1
|
|
|
1,291
|
|
||||
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
1,198
|
|
|
1,246
|
|
|
0.1
|
|
|
1,198
|
|
||||
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
1,094
|
|
|
1,140
|
|
|
0.1
|
|
|
1,094
|
|
||||
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
920
|
|
|
958
|
|
|
—
|
|
|
920
|
|
||||
Southern Veterinary Partners, LLC*
|
One stop
|
|
L + 5.50%
|
(a)
|
|
7.54%
|
|
05/2025
|
|
818
|
|
|
853
|
|
|
—
|
|
|
818
|
|
||||
Southern Veterinary Partners, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
05/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Southern Veterinary Partners, LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
05/2025
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Veterinary Specialists of North America, LLC*
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
04/2025
|
|
42,076
|
|
|
43,803
|
|
|
1.9
|
|
|
42,076
|
|
||||
Veterinary Specialists of North America, LLC
|
Senior loan
|
|
L + 4.25%
|
(a)
|
|
6.29%
|
|
04/2025
|
|
1,459
|
|
|
1,522
|
|
|
0.1
|
|
|
1,459
|
|
||||
Veterinary Specialists of North America, LLC(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
||||
Veterinary Specialists of North America, LLC(5)
|
Senior loan
|
|
L + 4.25%
|
|
|
N/A(6)
|
|
04/2025
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
||||
Wetzel's Pretzels, LLC*
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.79%
|
|
09/2021
|
|
17,023
|
|
|
17,316
|
|
|
0.8
|
|
|
17,023
|
|
||||
Wetzel's Pretzels, LLC
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.79%
|
|
09/2021
|
|
60
|
|
|
61
|
|
|
—
|
|
|
60
|
|
||||
|
|
|
|
|
|
|
|
|
|
206,933
|
|
|
211,396
|
|
|
9.5
|
|
|
205,009
|
|
||||
Printing and Publishing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brandmuscle, Inc.^
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.10%
|
|
12/2021
|
|
1,139
|
|
|
1,163
|
|
|
0.1
|
|
|
1,145
|
|
||||
Messenger, LLC#+!~
|
One stop
|
|
L + 6.00%
|
(a)(f)
|
|
8.05%
|
|
08/2023
|
|
9,145
|
|
|
9,255
|
|
|
0.4
|
|
|
9,053
|
|
||||
Messenger, LLC
|
One stop
|
|
P + 5.00%
|
(f)
|
|
10.00%
|
|
08/2023
|
|
36
|
|
|
37
|
|
|
—
|
|
|
36
|
|
||||
Messenger, LLC(5)
|
One stop
|
|
L + 6.00%
|
|
|
N/A(6)
|
|
08/2023
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
10,320
|
|
|
10,452
|
|
|
0.5
|
|
|
10,231
|
|
||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
2nd Ave. LLC
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.65%
|
|
09/2025
|
|
5,959
|
|
|
5,856
|
|
|
0.3
|
|
|
5,900
|
|
||||
2nd Ave. LLC(5)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
09/2025
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
||||
Batteries Plus Holding Corporation
|
One stop
|
|
L + 6.75%
|
(a)
|
|
8.79%
|
|
07/2022
|
|
22,424
|
|
|
22,782
|
|
|
1.0
|
|
|
22,424
|
|
||||
Batteries Plus Holding Corporation(5)
|
One stop
|
|
L + 6.75%
|
|
|
N/A(6)
|
|
07/2022
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Boot Barn, Inc.#+!~
|
Senior loan
|
|
L + 4.50%
|
(c)
|
|
6.60%
|
|
06/2023
|
|
7,596
|
|
|
7,770
|
|
|
0.3
|
|
|
7,596
|
|
||||
Cycle Gear, Inc.^+
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.32%
|
|
01/2021
|
|
17,784
|
|
|
18,023
|
|
|
0.8
|
|
|
17,784
|
|
||||
Cycle Gear, Inc.^
|
One stop
|
|
L + 5.00%
|
(c)
|
|
7.32%
|
|
01/2021
|
|
1,295
|
|
|
1,325
|
|
|
0.1
|
|
|
1,295
|
|
||||
DTLR, Inc.^*+
|
One stop
|
|
L + 6.50%
|
(c)
|
|
8.77%
|
|
08/2022
|
|
41,813
|
|
|
42,484
|
|
|
1.9
|
|
|
41,813
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
12/2021
|
|
6,297
|
|
|
6,179
|
|
|
0.3
|
|
|
5,919
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
12/2021
|
|
2,532
|
|
|
2,485
|
|
|
0.1
|
|
|
2,380
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
12/2021
|
|
1,303
|
|
|
1,280
|
|
|
0.1
|
|
|
1,225
|
|
||||
Elite Sportswear, L.P.*
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
12/2021
|
|
427
|
|
|
421
|
|
|
—
|
|
|
402
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.49%
|
|
12/2021
|
|
252
|
|
|
241
|
|
|
—
|
|
|
205
|
|
||||
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
12/2021
|
|
198
|
|
|
194
|
|
|
—
|
|
|
186
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Retail stores - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Elite Sportswear, L.P.*
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
12/2021
|
|
$
|
189
|
|
|
$
|
186
|
|
|
—
|
|
%
|
$
|
177
|
|
|
Elite Sportswear, L.P.
|
Senior loan
|
|
L + 6.25%
|
(c)
|
|
8.49%
|
|
12/2021
|
|
7
|
|
|
7
|
|
|
—
|
|
|
6
|
|
||||
Feeders Supply Company, LLC
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
04/2021
|
|
8,723
|
|
|
8,880
|
|
|
0.4
|
|
|
8,723
|
|
||||
Feeders Supply Company, LLC
|
Subordinated debt
|
|
N/A
|
|
|
12.50% cash/7.00% PIK
|
|
04/2021
|
|
138
|
|
|
140
|
|
|
—
|
|
|
138
|
|
||||
Feeders Supply Company, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
04/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Jet Equipment & Tools Ltd.#+!~(8)(9)(12)
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.70%
|
|
11/2024
|
|
18,139
|
|
|
18,485
|
|
|
0.8
|
|
|
18,072
|
|
||||
Jet Equipment & Tools Ltd.*(8)(12)
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
11/2024
|
|
12,490
|
|
|
12,787
|
|
|
0.6
|
|
|
12,490
|
|
||||
Jet Equipment & Tools Ltd.#+!~(8)(12)
|
One stop
|
|
L + 5.75%
|
(a)
|
|
7.79%
|
|
11/2024
|
|
4,349
|
|
|
4,437
|
|
|
0.2
|
|
|
4,349
|
|
||||
Jet Equipment & Tools Ltd.(5)(8)(9)(12)
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
11/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Marshall Retail Group LLC, The^*
|
One stop
|
|
L + 6.00%
|
(c)
|
|
8.32%
|
|
08/2020
|
|
14,935
|
|
|
15,047
|
|
|
0.7
|
|
|
14,935
|
|
||||
Marshall Retail Group LLC, The
|
One stop
|
|
L + 6.00%
|
(c)(f)
|
|
8.15%
|
|
08/2020
|
|
830
|
|
|
834
|
|
|
—
|
|
|
830
|
|
||||
Mills Fleet Farm Group LLC^*#+!~
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.29%
|
|
10/2024
|
|
43,924
|
|
|
44,154
|
|
|
1.9
|
|
|
41,729
|
|
||||
Pet Holdings ULC^*+(8)(12)
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.82%
|
|
07/2022
|
|
46,974
|
|
|
48,263
|
|
|
2.1
|
|
|
46,974
|
|
||||
Pet Holdings ULC^*(8)(12)
|
One stop
|
|
L + 5.50%
|
(c)
|
|
7.82%
|
|
07/2022
|
|
228
|
|
|
231
|
|
|
—
|
|
|
228
|
|
||||
Pet Holdings ULC(5)(8)(12)
|
One stop
|
|
L + 5.50%
|
|
|
N/A(6)
|
|
07/2022
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
||||
Pet Supplies Plus, LLC*+
|
Senior loan
|
|
L + 4.50%
|
(a)
|
|
6.54%
|
|
12/2024
|
|
14,326
|
|
|
14,615
|
|
|
0.6
|
|
|
14,326
|
|
||||
Pet Supplies Plus, LLC(5)
|
Senior loan
|
|
L + 4.50%
|
|
|
N/A(6)
|
|
12/2023
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
PetPeople Enterprises, LLC^
|
One stop
|
|
L + 5.00%
|
(a)
|
|
7.33%
|
|
09/2023
|
|
5,407
|
|
|
5,488
|
|
|
0.2
|
|
|
5,407
|
|
||||
PetPeople Enterprises, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
7.33%
|
|
09/2023
|
|
1,098
|
|
|
1,145
|
|
|
0.1
|
|
|
1,098
|
|
||||
PetPeople Enterprises, LLC
|
One stop
|
|
L + 5.00%
|
(a)
|
|
7.33%
|
|
09/2023
|
|
90
|
|
|
91
|
|
|
—
|
|
|
90
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
10/2024
|
|
7,034
|
|
|
7,054
|
|
|
0.3
|
|
|
7,034
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
One stop
|
|
L + 5.25%
|
(c)
|
|
7.35%
|
|
10/2024
|
|
1,725
|
|
|
1,797
|
|
|
0.1
|
|
|
1,725
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC(5)
|
One stop
|
|
L + 5.25%
|
|
|
N/A(6)
|
|
10/2024
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||
Vermont Aus Pty Ltd#!~(8)(9)(11)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
6.75%
|
|
12/2024
|
|
2,201
|
|
|
2,226
|
|
|
0.1
|
|
|
2,151
|
|
||||
Vermont Aus Pty Ltd(8)(9)(11)
|
One stop
|
|
L + 5.75%
|
(c)
|
|
6.75%
|
|
12/2024
|
|
26
|
|
|
27
|
|
|
—
|
|
|
26
|
|
||||
|
|
|
|
|
|
|
|
|
|
290,713
|
|
|
294,928
|
|
|
13.0
|
|
|
287,636
|
|
||||
Telecommunications
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
NetMotion Wireless Holdings, Inc.^*
|
One stop
|
|
L + 6.25%
|
(c)
|
|
8.35%
|
|
10/2021
|
|
11,627
|
|
|
11,832
|
|
|
0.5
|
|
|
11,627
|
|
||||
NetMotion Wireless Holdings, Inc.
|
One stop
|
|
L + 6.25%
|
|
|
N/A(6)
|
|
10/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
11,627
|
|
|
11,832
|
|
|
0.5
|
|
|
11,627
|
|
||||
Textiles and Leather
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
SHO Holding I Corporation#!~
|
Senior loan
|
|
L + 5.00%
|
(c)
|
|
7.26%
|
|
10/2022
|
|
4,066
|
|
|
4,052
|
|
|
0.2
|
|
|
3,903
|
|
||||
SHO Holding I Corporation
|
Senior loan
|
|
L + 4.00%
|
(c)
|
|
6.31%
|
|
10/2021
|
|
30
|
|
|
28
|
|
|
—
|
|
|
24
|
|
||||
|
|
|
|
|
|
|
|
|
|
4,096
|
|
|
4,080
|
|
|
0.2
|
|
|
3,927
|
|
||||
Utilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Arcos, LLC#!~
|
One stop
|
|
L + 5.75%
|
(c)
|
|
7.85%
|
|
02/2021
|
|
15,833
|
|
|
16,126
|
|
|
0.7
|
|
|
15,833
|
|
||||
Arcos, LLC
|
One stop
|
|
L + 5.75%
|
|
|
N/A(6)
|
|
02/2021
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
15,833
|
|
|
16,126
|
|
|
0.7
|
|
|
15,833
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/non-affiliate company debt investments
|
|
|
|
|
|
|
$
|
4,124,068
|
|
|
$
|
4,173,241
|
|
|
183.2
|
|
%
|
$
|
4,073,336
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Equity Investments (13)(14)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Aerospace and Defense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
NTS Technical Systems
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
$
|
1,506
|
|
|
—
|
|
%
|
$
|
509
|
|
||
NTS Technical Systems
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
256
|
|
|
—
|
|
|
378
|
|
||||
NTS Technical Systems
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
128
|
|
|
—
|
|
|
213
|
|
||||
Whitcraft LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
11
|
|
|
2,285
|
|
|
0.1
|
|
|
2,845
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
4,175
|
|
|
0.1
|
|
|
3,945
|
|
|||||
Automobile
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Grease Monkey International, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
803
|
|
|
1,304
|
|
|
0.1
|
|
|
1,741
|
|
||||
Polk Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
314
|
|
|
—
|
|
|
220
|
|
||||
Quick Quack Car Wash Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
508
|
|
|
—
|
|
|
528
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
2,126
|
|
|
0.1
|
|
|
2,489
|
|
|||||
Beverage, Food and Tobacco
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Benihana, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
43
|
|
|
699
|
|
|
0.1
|
|
|
960
|
|
||||
C. J. Foods, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
75
|
|
|
—
|
|
|
577
|
|
||||
Cafe Rio Holding, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
603
|
|
|
—
|
|
|
650
|
|
||||
Global ID Corporation
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
603
|
|
|
—
|
|
|
694
|
|
||||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
44
|
|
|
217
|
|
|
—
|
|
|
211
|
|
||||
Hopdoddy Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
20
|
|
|
61
|
|
|
—
|
|
|
60
|
|
||||
Mendocino Farms, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
169
|
|
|
770
|
|
|
0.1
|
|
|
739
|
|
||||
Purfoods, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
736
|
|
|
1,222
|
|
|
0.1
|
|
|
1,667
|
|
||||
Rubio's Restaurants, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
945
|
|
|
0.1
|
|
|
985
|
|
||||
Wood Fired Holding Corp.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
437
|
|
|
444
|
|
|
—
|
|
|
431
|
|
||||
Wood Fired Holding Corp.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
437
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
5,639
|
|
|
0.4
|
|
|
6,974
|
|
|||||
Buildings and Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brooks Equipment Company, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
10
|
|
|
1,021
|
|
|
0.1
|
|
|
2,376
|
|
||||
Paradigm DKD Group, LLC+
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,041
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Paradigm DKD Group, LLC+
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
184
|
|
|
70
|
|
|
—
|
|
|
67
|
|
||||
Paradigm DKD Group, LLC+
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
37
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
1,091
|
|
|
0.1
|
|
|
2,443
|
|
|||||
Chemicals, Plastics and Rubber
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Flexan, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Flexan, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
137
|
|
|
—
|
|
|
146
|
|
||||
Inhance Technologies Holdings LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
124
|
|
|
—
|
|
|
97
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
261
|
|
|
—
|
|
|
243
|
|
|||||
Diversified/Conglomerate Manufacturing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Inventus Power, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
372
|
|
|
—
|
|
|
5
|
|
||||
Inventus Power, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Inventus Power, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
88
|
|
|
—
|
|
|
80
|
|
||||
Inventus Power, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
20
|
|
|
—
|
|
|
23
|
|
||||
Reladyne, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
931
|
|
|
0.1
|
|
|
1,279
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
1,411
|
|
|
0.1
|
|
|
1,387
|
|
|||||
Diversified/Conglomerate Service
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Accela, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
670
|
|
|
418
|
|
|
—
|
|
|
208
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Agility Recovery Solutions Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
97
|
|
|
$
|
604
|
|
|
0.1
|
|
%
|
$
|
815
|
|
||
Astute Holdings, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
294
|
|
|
—
|
|
|
348
|
|
||||
Calabrio, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
26
|
|
|
205
|
|
|
—
|
|
|
200
|
|
||||
Caliper Software, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
221
|
|
|
283
|
|
|
—
|
|
|
322
|
|
||||
Caliper Software, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
2,734
|
|
|
0.1
|
|
|
2,862
|
|
||||
Caliper Software, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
36
|
|
|
—
|
|
|
38
|
|
||||
Centrify Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
263
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Centrify Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
691
|
|
|
—
|
|
|
613
|
|
||||
Cloudbees, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
93
|
|
|
181
|
|
|
—
|
|
|
239
|
|
||||
Cloudbees, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
71
|
|
|
466
|
|
|
—
|
|
|
455
|
|
||||
Confluence Technologies, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
286
|
|
|
—
|
|
|
347
|
|
||||
Connexin Software, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
154
|
|
|
192
|
|
|
—
|
|
|
217
|
|
||||
Digital Guardian, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3,562
|
|
|
434
|
|
|
—
|
|
|
419
|
|
||||
Digital Guardian, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,218
|
|
|
225
|
|
|
—
|
|
|
227
|
|
||||
Digital Guardian, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
738
|
|
|
142
|
|
|
—
|
|
|
142
|
|
||||
Digital Guardian, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
124
|
|
|
33
|
|
|
—
|
|
|
40
|
|
||||
DISA Holdings Acquisition Subsidiary Corp.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
154
|
|
|
—
|
|
|
426
|
|
||||
GS Acquisitionco, Inc.(15)
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
291
|
|
|
—
|
|
|
371
|
|
||||
HealthcareSource HR, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
621
|
|
|
—
|
|
|
810
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
284
|
|
|
386
|
|
|
—
|
|
|
382
|
|
||||
Hydraulic Authority III Limited(8)(9)(10)
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
43
|
|
|
—
|
|
|
77
|
|
||||
Internet Truckstop Group LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
408
|
|
|
447
|
|
|
—
|
|
|
438
|
|
||||
Kareo, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
53
|
|
|
162
|
|
|
—
|
|
|
4
|
|
||||
Kareo, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
6
|
|
|
—
|
|
|
11
|
|
||||
Kareo, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
8
|
|
|
—
|
|
|
7
|
|
||||
Maverick Bidco Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
723
|
|
|
—
|
|
|
464
|
|
||||
MetricStream, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
168
|
|
|
263
|
|
|
—
|
|
|
256
|
|
||||
MMan Acquisition Co.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
927
|
|
|
0.1
|
|
|
1,306
|
|
||||
Namely, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
17
|
|
|
28
|
|
|
—
|
|
|
28
|
|
||||
Net Health Acquisition Corp.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,440
|
|
|
0.1
|
|
|
1,437
|
|
||||
Nexus Brands Group, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
444
|
|
|
—
|
|
|
439
|
|
||||
Personify, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
639
|
|
|
828
|
|
|
0.1
|
|
|
950
|
|
||||
Pride Midco, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
2,594
|
|
|
0.1
|
|
|
2,676
|
|
||||
Project Alpha Intermediate Holding, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
202
|
|
|
329
|
|
|
—
|
|
|
636
|
|
||||
Project Alpha Intermediate Holding, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
964
|
|
|
0.1
|
|
|
1,069
|
|
||||
Property Brands, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
63
|
|
|
766
|
|
|
0.1
|
|
|
839
|
|
||||
RegEd Aquireco, LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
21
|
|
|
—
|
|
|
24
|
|
||||
RegEd Aquireco, LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
316
|
|
|
—
|
|
|
320
|
|
||||
SnapLogic, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
184
|
|
|
458
|
|
|
—
|
|
|
458
|
|
||||
SnapLogic, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
69
|
|
|
27
|
|
|
—
|
|
|
27
|
|
||||
Vendavo, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,017
|
|
|
1,017
|
|
|
0.1
|
|
|
1,646
|
|
||||
Verisys Corporation
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
579
|
|
|
712
|
|
|
—
|
|
|
786
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Diversified/Conglomerate Service - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Vitalyst, LLC
|
Equity
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
$
|
7
|
|
|
—
|
|
|
$
|
—
|
|
||
Vitalyst, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
61
|
|
|
—
|
|
|
65
|
|
||||
Workforce Software, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
973
|
|
|
0.1
|
|
|
939
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
474
|
|
|
494
|
|
|
—
|
|
|
534
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
84
|
|
|
64
|
|
|
—
|
|
|
59
|
|
||||
Xmatters, Inc. and Alarmpoint, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
20
|
|
|
26
|
|
|
—
|
|
|
31
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
22,824
|
|
|
1.0
|
|
|
25,007
|
|
|||||
Ecological
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Pace Analytical Services, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
700
|
|
|
0.1
|
|
|
781
|
|
||||
Electronics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Appriss Holdings, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
173
|
|
|
—
|
|
|
172
|
|
||||
Diligent Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
414
|
|
|
1,609
|
|
|
0.1
|
|
|
1,777
|
|
||||
Episerver, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
76
|
|
|
807
|
|
|
0.1
|
|
|
813
|
|
||||
Project Silverback Holdings Corp.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
6
|
|
|
—
|
|
|
—
|
|
||||
SEI, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
547
|
|
|
819
|
|
|
0.1
|
|
|
1,402
|
|
||||
Silver Peak Systems, Inc.
|
Warrant
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
67
|
|
|
27
|
|
|
—
|
|
|
26
|
|
||||
Sloan Company, Inc., The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
13
|
|
|
—
|
|
|
—
|
|
||||
Sloan Company, Inc., The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
152
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
3,606
|
|
|
0.3
|
|
|
4,190
|
|
|||||
Healthcare, Education and Childcare
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Active Day, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,021
|
|
|
0.1
|
|
|
774
|
|
||||
Acuity Eyecare Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,158
|
|
|
1,334
|
|
|
0.1
|
|
|
1,212
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,119
|
|
|
0.1
|
|
|
1,018
|
|
||||
ADCS Clinics Intermediate Holdings, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
6
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aris Teleradiology Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Aspen Medical Products, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
77
|
|
|
—
|
|
|
75
|
|
||||
BIO18 Borrower, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
591
|
|
|
1,190
|
|
|
0.1
|
|
|
1,272
|
|
||||
BIOVT, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
1,223
|
|
|
0.1
|
|
|
1,663
|
|
||||
CMI Parent Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
3
|
|
|
—
|
|
|
3
|
|
||||
CMI Parent Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
240
|
|
|
—
|
|
|
232
|
|
||||
CRH Healthcare Purchaser, Inc.
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
429
|
|
|
469
|
|
|
—
|
|
|
482
|
|
||||
DCA Investment Holding, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
13,890
|
|
|
1,619
|
|
|
0.1
|
|
|
1,908
|
|
||||
DCA Investment Holding, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
140
|
|
|
218
|
|
|
—
|
|
|
528
|
|
||||
Deca Dental Management LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,008
|
|
|
1,278
|
|
|
0.1
|
|
|
1,358
|
|
||||
Dental Holdings Corporation
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1,277
|
|
|
891
|
|
|
—
|
|
|
185
|
|
||||
Elite Dental Partners LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
737
|
|
|
—
|
|
|
666
|
|
||||
Encore GC Acquisition, LLC(15)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
26
|
|
|
272
|
|
|
—
|
|
|
278
|
|
||||
Encore GC Acquisition, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
26
|
|
|
52
|
|
|
—
|
|
|
160
|
|
||||
ERG Buyer, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
4
|
|
|
—
|
|
|
—
|
|
||||
ERG Buyer, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
661
|
|
|
—
|
|
|
510
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Healthcare, Education, and Childcare - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Eyecare Services Partners Holdings LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
$
|
262
|
|
|
$
|
—
|
|
%
|
$
|
171
|
|
|
Eyecare Services Partners Holdings LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
||||
G & H Wire Company, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
336
|
|
|
269
|
|
|
—
|
|
|
207
|
|
||||
IntegraMed America, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
417
|
|
|
—
|
|
|
64
|
|
||||
Joerns Healthcare, LLC^*
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
123
|
|
|
2,852
|
|
|
0.1
|
|
|
1,207
|
|
||||
Katena Holdings, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
573
|
|
|
—
|
|
|
514
|
|
||||
Krueger-Gilbert Health Physics, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
136
|
|
|
152
|
|
|
—
|
|
|
156
|
|
||||
Lombart Brothers, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
440
|
|
|
—
|
|
|
559
|
|
||||
MD Now Holdings, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
15
|
|
|
153
|
|
|
—
|
|
|
152
|
|
||||
MWD Management, LLC & MWD Services, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
412
|
|
|
335
|
|
|
—
|
|
|
282
|
|
||||
Oliver Street Dermatology Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
452
|
|
|
234
|
|
|
—
|
|
|
—
|
|
||||
Pentec Acquisition Sub, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
116
|
|
|
—
|
|
|
106
|
|
||||
Pinnacle Treatment Centers, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
5
|
|
|
74
|
|
|
—
|
|
|
140
|
|
||||
Pinnacle Treatment Centers, Inc.
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
528
|
|
|
—
|
|
|
574
|
|
||||
Radiology Partners, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
43
|
|
|
55
|
|
|
—
|
|
|
327
|
|
||||
Radiology Partners, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
11
|
|
|
68
|
|
|
—
|
|
|
83
|
|
||||
RXH Buyer Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
11
|
|
|
973
|
|
|
—
|
|
|
705
|
|
||||
Sage Dental Management, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
3
|
|
|
3
|
|
|
—
|
|
|
—
|
|
||||
Sage Dental Management, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
249
|
|
|
—
|
|
|
5
|
|
||||
SLMP, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
668
|
|
|
789
|
|
|
0.1
|
|
|
843
|
|
||||
Spear Education, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1
|
|
|
—
|
|
|
38
|
|
||||
Spear Education, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
62
|
|
|
—
|
|
|
82
|
|
||||
SSH Corpration
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
40
|
|
|
—
|
|
|
143
|
|
||||
Summit Behavioral Healthcare, LLC(15)
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
98
|
|
|
—
|
|
|
50
|
|
||||
Summit Behavioral Healthcare, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Surgical Information Systems, LLC(15)
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
414
|
|
|
—
|
|
|
505
|
|
||||
WHCG Management, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
414
|
|
|
—
|
|
|
287
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
21,986
|
|
|
0.9
|
|
|
19,524
|
|
|||||
Insurance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Captive Resources Midco, LLC(15)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
388
|
|
|
—
|
|
|
—
|
|
|
436
|
|
||||
Orchid Underwriters Agency, LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
78
|
|
|
90
|
|
|
—
|
|
|
96
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
90
|
|
|
—
|
|
|
532
|
|
|||||
Leisure, Amusement, Motion Pictures, Entertainment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
LMP TR Holdings, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
712
|
|
|
712
|
|
|
0.1
|
|
|
1,478
|
|
||||
PADI Holdco, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
1,073
|
|
|
0.1
|
|
|
1,114
|
|
||||
WBZ Investment LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
68
|
|
|
117
|
|
|
—
|
|
|
122
|
|
||||
WBZ Investment LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
46
|
|
|
80
|
|
|
—
|
|
|
84
|
|
||||
WBZ Investment LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
38
|
|
|
65
|
|
|
—
|
|
|
69
|
|
||||
WBZ Investment LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
33
|
|
|
58
|
|
|
—
|
|
|
60
|
|
||||
WBZ Investment LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
14
|
|
|
24
|
|
|
—
|
|
|
26
|
|
||||
WBZ Investment LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
2
|
|
|
—
|
|
|
2
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
2,131
|
|
|
0.2
|
|
|
2,955
|
|
|||||
Personal and Non Durable Consumer Products (Mfg. Only)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Georgica Pine Clothiers, LLC(15)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
20
|
|
|
291
|
|
|
—
|
|
|
389
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Personal and Non Durable Consumer Products (Mfg. Only) - (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Massage Envy, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
749
|
|
|
$
|
210
|
|
|
$
|
0.1
|
|
%
|
$
|
1,776
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
501
|
|
|
0.1
|
|
|
2,165
|
|
|||||
Personal, Food and Miscellaneous Services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Blue River Pet Care, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
76
|
|
|
—
|
|
|
74
|
|
||||
Captain D's, LLC
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
158
|
|
|
156
|
|
|
—
|
|
|
147
|
|
||||
Clarkson Eyecare LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
275
|
|
|
—
|
|
|
263
|
|
||||
Community Veterinary Partners, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
597
|
|
|
—
|
|
|
730
|
|
||||
Midwest Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Midwest Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
29
|
|
|
—
|
|
|
29
|
|
||||
PPV Intermediate Holdings II, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
208
|
|
|
198
|
|
|
—
|
|
|
197
|
|
||||
R.G. Barry Corporation
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
161
|
|
|
—
|
|
|
120
|
|
||||
Ruby Slipper Cafe LLC, The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
31
|
|
|
373
|
|
|
—
|
|
|
398
|
|
||||
Southern Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
147
|
|
|
188
|
|
|
—
|
|
|
409
|
|
||||
Southern Veterinary Partners, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
717
|
|
|
0.1
|
|
|
845
|
|
||||
Wetzel's Pretzels, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
416
|
|
|
—
|
|
|
507
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
3,186
|
|
|
0.1
|
|
|
3,719
|
|
|||||
Printing and Publishing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brandmuscle, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
335
|
|
|
—
|
|
|
196
|
|
||||
Retail Stores
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
2nd Ave. LLC
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
653
|
|
|
653
|
|
|
—
|
|
|
653
|
|
||||
Batteries Plus Holding Corporation
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
10
|
|
|
1,287
|
|
|
0.1
|
|
|
1,483
|
|
||||
Cycle Gear, Inc.
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
27
|
|
|
462
|
|
|
—
|
|
|
662
|
|
||||
DTLR, Inc.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
411
|
|
|
0.1
|
|
|
835
|
|
||||
Elite Sportswear, L.P.
|
LLC interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
165
|
|
|
—
|
|
|
—
|
|
||||
Feeders Supply Company, LLC
|
Preferred stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
400
|
|
|
—
|
|
|
413
|
|
||||
Feeders Supply Company, LLC
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Jet Equipment & Tools Ltd.(8)(9)(12)
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
946
|
|
|
0.1
|
|
|
1,097
|
|
||||
Marshall Retail Group LLC, The
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
15
|
|
|
154
|
|
|
—
|
|
|
149
|
|
||||
Paper Source, Inc.
|
Common Stock
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
8
|
|
|
1,387
|
|
|
—
|
|
|
363
|
|
||||
Pet Holdings ULC(8)(12)
|
LP interest
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
677
|
|
|
483
|
|
|
—
|
|
|
282
|
|
||||
Pet Supplies Plus, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
144
|
|
|
181
|
|
|
—
|
|
|
205
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
4
|
|
|
496
|
|
|
—
|
|
|
567
|
|
||||
Sola Franchise, LLC and Sola Salon Studios, LLC
|
LLC units
|
|
N/A
|
|
|
N/A
|
|
N/A
|
|
1
|
|
|
101
|
|
|
—
|
|
|
118
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
7,126
|
|
|
0.3
|
|
|
6,827
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/affiliate company equity investments
|
|
|
|
|
|
|
|
|
$
|
77,188
|
|
|
3.8
|
|
%
|
$
|
83,377
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total non-controlled/non-affiliate company investments
|
|
|
|
|
|
|
$
|
4,124,068
|
|
|
$
|
4,250,429
|
|
|
187.0
|
|
%
|
$
|
4,156,713
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type
|
|
Spread
Above
Index(1)
|
|
Interest
Rate(2) |
|
Maturity
Date
|
|
Principal ($) /
Shares(3)
|
|
Amortized Cost
|
|
Percentage
of Net
Assets
|
|
Fair
Value (4)
|
|||||||||
Money market funds (included in cash and cash equivalents and restricted cash and cash equivalents)
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
BlackRock Liquidity Funds T-Fund Institutional Shares (CUSIP 09248U718)
|
|
1.81% (19)
|
|
|
|
|
|
|
$
|
9,963
|
|
|
0.4
|
|
%
|
$
|
9,963
|
|
||||||
Total money market funds
|
|
$
|
9,963
|
|
|
0.4
|
|
%
|
$
|
9,963
|
|
|||||||||||||
Total investments and money market funds
|
|
|
|
$
|
4,401,733
|
|
|
193.5
|
|
%
|
$
|
4,302,895
|
|
|
^
|
|
Denotes that all or a portion of the loan secures the notes offered in the 2014 Debt Securitization (as defined in Note 7).
|
*
|
|
Denotes that all or a portion of the loan secures the notes offered in the 2018 Debt Securitization (as defined in Note 7).
|
#
|
|
Denotes that all or a portion of the loan secures the notes offered in the GCIC 2018 Debt Securitization (as defined in Note 7).
|
+
|
|
Denotes that all or a portion of the loan collateralizes the WF Credit Facility (as defined in Note 7).
|
!
|
|
Denotes that all or a portion of the loan collateralizes the DB Credit Facility (as defined in Note 7).
|
~
|
|
Denotes that all or a portion of the loan collateralizes the MS Credit Facility II (as defined in Note 7).
|
(1)
|
The majority of the investments bear interest at a rate that is permitted to be determined by reference to LIBOR denominated in U.S. dollars or GBP, EURIBOR or Prime (“P”) and which reset daily, monthly, quarterly, semiannually, or annually. For each, the Company has provided the spread over LIBOR, EURIBOR or Prime and the weighted average current interest rate in effect as of September 30, 2019. Certain investments are subject to a LIBOR, EURIBOR or Prime interest rate floor. For fixed rate loans, a spread above a reference rate is not applicable. Listed below are the index rates as of September 30, 2019, which was the last business day of the period on which LIBOR or EURIBOR was determined. The actual index rate for each loan listed may not be the applicable index rate outstanding as of September 30, 2019, as the loan may have priced or repriced based on an index rate prior to September 30, 2019.
|
(2)
|
For portfolio companies with multiple interest rate contracts, the interest rate shown is a weighted average current interest rate in effect as of September 30, 2019.
|
(3)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(4)
|
The fair value of the investment was valued using significant unobservable inputs. See Note 6. Fair Value Measurements.
|
(5)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par. The negative amortized cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
|
(6)
|
The entire commitment was unfunded as of September 30, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
Loan was on non-accrual status as of September 30, 2019, meaning that the Company has ceased recognizing interest income on the loan.
|
(8)
|
The investment is treated as a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company can not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of September 30, 2019, total non-qualifying assets at fair value represented 7.8% of the Company's total assets calculated in accordance with the 1940 Act.
|
(9)
|
Investment is denominated in foreign currency and is translated into U.S. dollars as of the valuation date or the date of the transaction. See Note 2. Significant Accounting Policies and Recent Accounting Updates - Foreign Currency Transactions.
|
(10)
|
The headquarters of this portfolio company is located in the United Kingdom.
|
(11)
|
The headquarters of this portfolio company is located in Australia.
|
(12)
|
The headquarters of this portfolio company is located in Canada.
|
(13)
|
Equity investments are non-income producing securities unless otherwise noted.
|
(14)
|
Ownership of certain equity investments occurs through a holding company or partnership.
|
(15)
|
The Company holds an equity investment that entitles it to receive preferential dividends.
|
Portfolio Company
|
|
Fair value as of September 30, 2018
|
|
Purchases (cost)(l)
|
|
Redemptions
(cost)
|
|
Transfer in/out (cost)
|
|
Discount
accretion
|
|
Net change in unrealized
gain/(loss)
|
|
Fair value as of September 30, 2019
|
|
Net realized gain/(loss)
|
|
Interest and
fee income
|
|
Dividend
income
|
||||||||||||||||||||
Benetech, Inc.
|
|
$
|
4,496
|
|
|
$
|
535
|
|
|
$
|
(385
|
)
|
|
$
|
205
|
|
|
$
|
(40
|
)
|
|
$
|
(1,064
|
)
|
|
$
|
3,747
|
|
|
$
|
—
|
|
|
$
|
623
|
|
|
$
|
—
|
|
Switchfly LLC
|
|
2,788
|
|
|
408
|
|
|
—
|
|
|
4,983
|
|
|
(339
|
)
|
|
(57
|
)
|
|
7,783
|
|
|
—
|
|
|
139
|
|
|
—
|
|
||||||||||
Uinta Brewing Company(m)
|
|
—
|
|
|
155
|
|
|
—
|
|
|
1,023
|
|
|
(44
|
)
|
|
(89
|
)
|
|
1,045
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||
Total Non-Controlled Affiliates
|
|
$
|
7,284
|
|
|
$
|
1,098
|
|
|
$
|
(385
|
)
|
|
$
|
6,211
|
|
|
$
|
(423
|
)
|
|
$
|
(1,210
|
)
|
|
$
|
12,575
|
|
|
$
|
—
|
|
|
$
|
762
|
|
|
$
|
—
|
|
(l)
|
|
Purchases at cost includes amounts related to payment-in-kind (“PIK") interest capitalized and added to the principal balance of the respective loans.
|
(m)
|
|
During the three months ended March 31, 2019, the Company's ownership increased to over five percent of the portfolio company's voting securities.
|
Portfolio Company
|
|
Fair value as of September 30, 2018
|
|
Purchases (cost)
|
|
Redemptions
(cost)
|
|
Transfer in/out (cost)
|
|
Discount
accretion
|
|
Net change in unrealized
gain/(loss)
|
|
Fair value as of September 30, 2019
|
|
Net realized gain/(loss)
|
|
Interest and
fee income
|
|
Dividend
income
|
||||||||||||||||||||
Senior Loan Fund LLC(n)
|
|
$
|
71,084
|
|
|
$
|
1,750
|
|
|
$
|
(2,275
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,827
|
|
|
$
|
74,386
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
GCIC Senior Loan Fund LLC(o)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
52,605
|
|
|
—
|
|
|
(3,347
|
)
|
|
49,258
|
|
|
—
|
|
|
—
|
|
|
1,219
|
|
||||||||||
Total Controlled Affiliates
|
|
$
|
71,084
|
|
|
$
|
1,750
|
|
|
$
|
(2,275
|
)
|
|
$
|
52,605
|
|
|
$
|
—
|
|
|
$
|
480
|
|
|
$
|
123,644
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,219
|
|
(n)
|
|
As of September 30, 2019, together with RGA Reinsurance Company (“RGA”), the Company co-invested through SLF. SLF was capitalized as transactions were completed and all portfolio and investment decisions in respect to SLF were approved by the SLF investment committee consisting of two representatives of the Company and RGA (with unanimous approval required from (i) one representative of each of the Company and RGA or (ii) both representatives of each of the Company and RGA). Therefore, although the Company owned more than 25% of the voting securities of SLF, the Company did not have sole control over significant actions of SLF for purposes of the 1940 Act or otherwise.
|
(o)
|
|
As of September 30, 2019, together with Aurora National Life Assurance Company (“Aurora”), the Company co-invested through GCIC SLF, following the acquisition of GCIC SLF in the merger with GCIC (described in Note 1). GCIC SLF was capitalized as transactions were completed and all portfolio and investment decisions in respect to GCIC SLF were approved by the GCIC SLF investment committee consisting of two representatives of the Company and Aurora (with unanimous approval required from (i) one representative of each of the Company and Aurora or (ii) both representatives of each of the Company and Aurora). Therefore, although the Company owned more than 25% of the voting securities of GCIC SLF, the Company did not have sole control over significant actions of GCIC SLF for purposes of the 1940 Act or otherwise.
|
(18)
|
The Company generally receives quarterly profit distributions from its equity investments in SLF and GCIC SLF. For the year ended September 30, 2019, the Company did not receive a profit distribution from its equity investments in SLF. For its equity investment in GCIC SLF, the Company received $1,219 for the year ended September 30, 2019. See Note 4. Investments.
|
(19)
|
The rate shown is the annualized seven-day yield as of September 30, 2019.
|
(1)
|
cash and cash equivalents, restricted cash and cash equivalents, fair value of investments, interest receivable, and other assets and liabilities—at the spot exchange rate on the last business day of the period; and
|
(2)
|
purchases and sales of investments, income and expenses—at the exchange rates prevailing on the respective dates of such transactions.
|
•
|
Zero in any calendar quarter in which the Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate;
|
•
|
100% of the Company’s Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than 2.5% in any calendar quarter. This portion of the Company’s Pre-Incentive Fee Net Investment Income (which exceeds the hurdle rate but is less than 2.5%) is referred to as the “catch-up” provision. The catch-up is meant to provide the Investment Adviser with 20.0% of the Pre-Incentive Fee Net Investment Income as if a hurdle rate did not apply if the Company’s Pre-Incentive Fee Net Investment Income exceeds 2.5% in any calendar quarter; and
|
•
|
20.0% of the amount of the Company’s Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.5% in any calendar quarter.
|
•
|
The cumulative aggregate realized capital losses are calculated as the sum of the amounts by which (a) the net sales price of each investment in the Company’s portfolio when sold is less than (b) the accreted or amortized cost basis of such investment.
|
•
|
The cumulative aggregate realized capital gains are calculated as the sum of the differences, if positive, between (a) the net sales price of each investment in the Company’s portfolio when sold and (b) the accreted or amortized cost basis of such investment.
|
•
|
The aggregate unrealized capital depreciation is calculated as the sum of the differences, if negative, between (a) the valuation of each investment in the Company’s portfolio as of the applicable Capital Gain Incentive Fee calculation date and (b) the accreted or amortized cost basis of such investment.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||||||||||||
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
||||||||||||
Senior secured
|
$
|
557,806
|
|
|
$
|
558,976
|
|
|
$
|
545,176
|
|
|
$
|
601,788
|
|
|
$
|
605,606
|
|
|
$
|
589,340
|
|
One stop
|
3,714,661
|
|
|
3,749,488
|
|
|
3,676,789
|
|
|
3,514,266
|
|
|
3,559,030
|
|
|
3,474,116
|
|
||||||
Second lien
|
19,781
|
|
|
20,046
|
|
|
19,781
|
|
|
19,473
|
|
|
19,745
|
|
|
19,473
|
|
||||||
Subordinated debt
|
510
|
|
|
516
|
|
|
510
|
|
|
369
|
|
|
375
|
|
|
369
|
|
||||||
LLC equity interests in the SLFs(1)
|
N/A
|
|
|
123,112
|
|
|
119,078
|
|
|
N/A
|
|
|
127,487
|
|
|
123,644
|
|
||||||
Equity
|
N/A
|
|
|
78,800
|
|
|
86,982
|
|
|
N/A
|
|
|
79,527
|
|
|
85,990
|
|
||||||
Total
|
$
|
4,292,758
|
|
|
$
|
4,530,938
|
|
|
$
|
4,448,316
|
|
|
$
|
4,135,896
|
|
|
$
|
4,391,770
|
|
|
$
|
4,292,932
|
|
|
(1)
|
SLF’s and GCIC SLF's proceeds from the LLC equity interests invested in SLF and GCIC SLF, respectively, were utilized to invest in senior secured loans.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||
Amortized Cost:
|
|
|
|
|
|
|
|
|
|
|
|
||
United States
|
|
|
|
|
|
|
|
|
|
|
|
||
Mid-Atlantic
|
$
|
950,683
|
|
|
21.0
|
%
|
|
$
|
919,868
|
|
|
21.0
|
%
|
Midwest
|
1,008,301
|
|
|
22.3
|
|
|
985,471
|
|
|
22.4
|
|
||
West
|
730,850
|
|
|
16.1
|
|
|
748,104
|
|
|
17.0
|
|
||
Southeast
|
977,527
|
|
|
21.6
|
|
|
944,794
|
|
|
21.5
|
|
||
Southwest
|
430,209
|
|
|
9.5
|
|
|
453,239
|
|
|
10.3
|
|
||
Northeast
|
308,056
|
|
|
6.8
|
|
|
217,138
|
|
|
4.9
|
|
||
Canada
|
101,024
|
|
|
2.2
|
|
|
99,823
|
|
|
2.3
|
|
||
United Kingdom
|
21,048
|
|
|
0.5
|
|
|
21,080
|
|
|
0.5
|
|
||
Australia
|
2,265
|
|
|
0.0
|
*
|
|
2,253
|
|
|
0.1
|
|
||
Luxembourg
|
975
|
|
|
0.0
|
*
|
|
—
|
|
|
—
|
|
||
Total
|
$
|
4,530,938
|
|
|
100.0
|
%
|
|
$
|
4,391,770
|
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
||||||
Fair Value:
|
|
|
|
|
|
|
|
|
|
|
|
||
United States
|
|
|
|
|
|
|
|
|
|
|
|
||
Mid-Atlantic
|
$
|
931,126
|
|
|
20.9
|
%
|
|
$
|
896,202
|
|
|
20.9
|
%
|
Midwest
|
986,016
|
|
|
22.2
|
|
|
959,894
|
|
|
22.4
|
|
||
West
|
717,658
|
|
|
16.1
|
|
|
732,599
|
|
|
17.1
|
|
||
Southeast
|
964,639
|
|
|
21.7
|
|
|
929,922
|
|
|
21.6
|
|
||
Southwest
|
419,931
|
|
|
9.4
|
|
|
442,744
|
|
|
10.3
|
|
||
Northeast
|
304,714
|
|
|
6.9
|
|
|
211,920
|
|
|
4.9
|
|
||
Canada
|
99,204
|
|
|
2.2
|
|
|
97,392
|
|
|
2.3
|
|
||
United Kingdom
|
21,772
|
|
|
0.5
|
|
|
20,082
|
|
|
0.5
|
|
||
Australia
|
2,281
|
|
|
0.1
|
|
|
2,177
|
|
|
0.0
|
*
|
||
Luxembourg
|
975
|
|
|
0.0
|
*
|
|
—
|
|
|
—
|
|
||
Total
|
$
|
4,448,316
|
|
|
100.0
|
%
|
|
$
|
4,292,932
|
|
|
100.0
|
%
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||
Amortized Cost:
|
|
|
|
|
|
|
|
|
|
|
|
||
Aerospace and Defense
|
$
|
98,044
|
|
|
2.2
|
%
|
|
$
|
92,797
|
|
|
2.1
|
%
|
Automobile
|
71,570
|
|
|
1.6
|
|
|
70,401
|
|
|
1.6
|
|
||
Beverage, Food and Tobacco
|
261,620
|
|
|
5.8
|
|
|
257,594
|
|
|
5.9
|
|
||
Broadcasting and Entertainment
|
2,127
|
|
|
0.0
|
*
|
|
2,136
|
|
|
0.0
|
*
|
||
Buildings and Real Estate
|
134,689
|
|
|
3.0
|
|
|
134,083
|
|
|
3.0
|
|
||
Chemicals, Plastics and Rubber
|
19,107
|
|
|
0.4
|
|
|
19,184
|
|
|
0.4
|
|
||
Containers, Packaging and Glass
|
991
|
|
|
0.0
|
*
|
|
—
|
|
|
—
|
|
||
Diversified/Conglomerate Manufacturing
|
126,466
|
|
|
2.8
|
|
|
127,441
|
|
|
2.9
|
|
||
Diversified/Conglomerate Service
|
1,620,161
|
|
|
35.8
|
|
|
1,470,501
|
|
|
33.5
|
|
||
Ecological
|
45,782
|
|
|
1.0
|
|
|
44,573
|
|
|
1.0
|
|
||
Electronics
|
249,253
|
|
|
5.5
|
|
|
257,587
|
|
|
5.9
|
|
||
Finance
|
19,485
|
|
|
0.4
|
|
|
19,532
|
|
|
0.4
|
|
||
Grocery
|
441
|
|
|
0.0
|
*
|
|
444
|
|
|
0.0
|
*
|
||
Healthcare, Education and Childcare
|
784,436
|
|
|
17.3
|
|
|
772,226
|
|
|
17.6
|
|
||
Home and Office Furnishings, Housewares, and Durable Consumer
|
26,963
|
|
|
0.6
|
|
|
21,551
|
|
|
0.5
|
|
||
Hotels, Motels, Inns, and Gaming
|
9,523
|
|
|
0.2
|
|
|
8,463
|
|
|
0.2
|
|
||
Insurance
|
90,414
|
|
|
2.0
|
|
|
105,238
|
|
|
2.4
|
|
||
Investment Funds and Vehicles
|
123,112
|
|
|
2.7
|
|
|
127,487
|
|
|
2.9
|
|
||
Leisure, Amusement, Motion Pictures, Entertainment
|
188,889
|
|
|
4.2
|
|
|
186,894
|
|
|
4.3
|
|
||
Mining, Steel, Iron and Non-Precious Metals
|
4,626
|
|
|
0.1
|
|
|
4,794
|
|
|
0.1
|
|
||
Oil and Gas
|
36,914
|
|
|
0.9
|
|
|
36,237
|
|
|
0.8
|
|
||
Personal and Non Durable Consumer Products (Mfg. Only)
|
73,761
|
|
|
1.6
|
|
|
73,146
|
|
|
1.7
|
|
||
Personal, Food and Miscellaneous Services
|
214,871
|
|
|
4.7
|
|
|
214,582
|
|
|
4.9
|
|
||
Printing and Publishing
|
10,752
|
|
|
0.2
|
|
|
10,787
|
|
|
0.2
|
|
||
Retail Stores
|
286,753
|
|
|
6.3
|
|
|
302,054
|
|
|
6.9
|
|
||
Telecommunications
|
11,239
|
|
|
0.3
|
|
|
11,832
|
|
|
0.3
|
|
||
Textiles and Leather
|
4,113
|
|
|
0.1
|
|
|
4,080
|
|
|
0.1
|
|
||
Utilities
|
14,836
|
|
|
0.3
|
|
|
16,126
|
|
|
0.4
|
|
||
Total
|
$
|
4,530,938
|
|
|
100.0
|
%
|
|
$
|
4,391,770
|
|
|
100.0
|
%
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||
Fair Value:
|
|
|
|
|
|
|
|
|
|
|
|
||
Aerospace and Defense
|
$
|
97,773
|
|
|
2.2
|
%
|
|
$
|
91,651
|
|
|
2.1
|
%
|
Automobile
|
71,409
|
|
|
1.6
|
|
|
69,820
|
|
|
1.6
|
|
||
Beverage, Food and Tobacco
|
258,048
|
|
|
5.8
|
|
|
252,588
|
|
|
5.9
|
|
||
Broadcasting and Entertainment
|
2,102
|
|
|
0.0
|
*
|
|
2,108
|
|
|
0.1
|
|
||
Buildings and Real Estate
|
133,688
|
|
|
3.0
|
|
|
133,053
|
|
|
3.1
|
|
||
Chemicals, Plastics and Rubber
|
18,894
|
|
|
0.5
|
|
|
18,922
|
|
|
0.4
|
|
||
Containers, Packaging and Glass
|
989
|
|
|
0.0
|
*
|
|
—
|
|
|
—
|
|
||
Diversified/Conglomerate Manufacturing
|
123,977
|
|
|
2.8
|
|
|
124,040
|
|
|
2.9
|
|
||
Diversified/Conglomerate Service
|
1,601,872
|
|
|
36.0
|
|
|
1,442,750
|
|
|
33.6
|
|
||
Ecological
|
45,380
|
|
|
1.0
|
|
|
43,857
|
|
|
1.0
|
|
||
Electronics
|
241,965
|
|
|
5.4
|
|
|
249,678
|
|
|
5.8
|
|
||
Finance
|
19,050
|
|
|
0.4
|
|
|
18,883
|
|
|
0.4
|
|
||
Grocery
|
413
|
|
|
0.0
|
*
|
|
411
|
|
|
0.0
|
*
|
||
Healthcare, Education and Childcare
|
755,966
|
|
|
17.0
|
|
|
746,484
|
|
|
17.4
|
|
||
Home and Office Furnishings, Housewares, and Durable Consumer
|
26,509
|
|
|
0.6
|
|
|
20,894
|
|
|
0.5
|
|
||
Hotels, Motels, Inns, and Gaming
|
9,600
|
|
|
0.2
|
|
|
8,419
|
|
|
0.2
|
|
||
Insurance
|
90,668
|
|
|
2.0
|
|
|
104,086
|
|
|
2.4
|
|
||
Investment Funds and Vehicles
|
119,078
|
|
|
2.7
|
|
|
123,644
|
|
|
2.9
|
|
||
Leisure, Amusement, Motion Pictures, Entertainment
|
186,664
|
|
|
4.2
|
|
|
183,836
|
|
|
4.3
|
|
||
Mining, Steel, Iron and Non-Precious Metals
|
3,569
|
|
|
0.1
|
|
|
3,747
|
|
|
0.1
|
|
||
Oil and Gas
|
36,317
|
|
|
0.9
|
|
|
35,612
|
|
|
0.8
|
|
||
Personal and Non Durable Consumer Products (Mfg. Only)
|
74,115
|
|
|
1.7
|
|
|
73,444
|
|
|
1.7
|
|
||
Personal, Food and Miscellaneous Services
|
211,264
|
|
|
4.7
|
|
|
208,728
|
|
|
4.9
|
|
||
Printing and Publishing
|
10,524
|
|
|
0.2
|
|
|
10,427
|
|
|
0.2
|
|
||
Retail Stores
|
278,871
|
|
|
6.3
|
|
|
294,463
|
|
|
6.9
|
|
||
Telecommunications
|
11,059
|
|
|
0.3
|
|
|
11,627
|
|
|
0.3
|
|
||
Textiles and Leather
|
3,960
|
|
|
0.1
|
|
|
3,927
|
|
|
0.1
|
|
||
Utilities
|
14,592
|
|
|
0.3
|
|
|
15,833
|
|
|
0.4
|
|
||
Total
|
$
|
4,448,316
|
|
|
100.0
|
%
|
|
$
|
4,292,932
|
|
|
100.0
|
%
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||||
|
Committed
|
|
Funded(1)
|
|
Committed
|
|
Funded(1)
|
||||||||
LLC equity commitments
|
$
|
200,000
|
|
|
$
|
80,580
|
|
|
$
|
200,000
|
|
|
$
|
85,580
|
|
Total
|
$
|
200,000
|
|
|
$
|
80,580
|
|
|
$
|
200,000
|
|
|
$
|
85,580
|
|
|
(1)
|
Funded LLC equity commitments are presented net of return of capital distributions subject to recall.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||
Senior secured loans(1)
|
$
|
119,781
|
|
|
$
|
154,254
|
|
Weighted average current interest rate on senior secured loans(2)
|
7.4
|
%
|
|
7.4
|
%
|
||
Number of borrowers in SLF
|
21
|
|
|
27
|
|
||
Largest portfolio company investment(1)
|
$
|
10,574
|
|
|
$
|
12,654
|
|
Total of five largest portfolio company investments(1)
|
$
|
46,830
|
|
|
$
|
54,268
|
|
|
(1)
|
At principal amount.
|
(2)
|
Computed as the (a) annual stated interest rate on accruing senior secured loans divided by (b) total senior secured loans at principal amount.
|
SLF Investment Portfolio as of December 31, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($) /
Shares(2)
|
|
Fair
Value(3)
|
||||
1A Smart Start LLC(4)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
%
|
$
|
2,954
|
|
|
$
|
2,953
|
|
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
6.9
|
|
6,172
|
|
|
3,703
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
10.4
|
|
2,139
|
|
|
4
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
6.9
|
|
422
|
|
|
253
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
6.9
|
|
308
|
|
|
108
|
|
||
Boot Barn, Inc.(4)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.5
|
|
6,022
|
|
|
6,022
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.7
|
|
4,418
|
|
|
4,415
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.4
|
|
2,427
|
|
|
2,427
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
22
|
|
|
22
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
5.8
|
|
4,761
|
|
|
4,761
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
5,889
|
|
|
5,889
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
1,636
|
|
|
1,636
|
|
||
Flexan, LLC(4)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.3
|
|
178
|
|
|
178
|
|
||
Gamma Technologies, LLC(4)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
6.8
|
|
10,058
|
|
|
10,058
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
9.8
|
|
4,288
|
|
|
4,288
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
2,271
|
|
|
2,271
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
118
|
|
|
118
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
63
|
|
|
63
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
7.9
|
|
1,338
|
|
|
1,310
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
7.9
|
|
1,286
|
|
|
1,260
|
|
||
Paradigm DKD Group, LLC(4)(5)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.2
|
|
1,480
|
|
|
958
|
|
||
Paradigm DKD Group, LLC(4)(5)(7)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.2
|
|
(16
|
)
|
|
(78
|
)
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(4)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
5.8
|
|
5,251
|
|
|
5,251
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
4,454
|
|
|
4,320
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
61
|
|
|
59
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
52
|
|
|
51
|
|
||
Pyramid Healthcare, Inc.(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
10,021
|
|
|
10,021
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.5
|
|
308
|
|
|
308
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
146
|
|
|
146
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
99
|
|
|
99
|
|
||
Rubio's Restaurants, Inc (4)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
04/2021
|
|
9.46% cash/4.00% PIK
|
|
4,907
|
|
|
4,953
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.35% cash/1.00% PIK
|
|
4,333
|
|
|
3,899
|
|
SLF Investment Portfolio as of December 31, 2019 - (continued)
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($) /
Shares(2)
|
|
Fair
Value(3)
|
||||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
%
|
$
|
70
|
|
|
$
|
63
|
|
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
63
|
|
|
57
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
45
|
|
|
40
|
|
||
Self Esteem Brands, LLC (4)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
6.1
|
|
9,561
|
|
|
9,561
|
|
||
Self Esteem Brands, LLC (4)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
8.0
|
|
201
|
|
|
201
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
4,178
|
|
|
3,844
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
3,276
|
|
|
3,014
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
558
|
|
|
513
|
|
||
Teasdale Quality Foods, Inc.(4)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
417
|
|
|
383
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
207
|
|
|
190
|
|
||
WHCG Management, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
6.7
|
|
7,800
|
|
|
7,800
|
|
||
WIRB-Copernicus Group, Inc(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
5.9
|
|
5,539
|
|
|
5,539
|
|
||
Total senior loan investments
|
|
|
|
|
|
|
|
|
|
$
|
119,781
|
|
|
$
|
112,931
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Joerns Healthcare, LLC(4)(8)(9)
|
|
Healthcare, Education and Childcare
|
|
Common Stock
|
|
N/A
|
|
N/A
|
|
309
|
|
|
$
|
1,477
|
|
|
Paradigm DKD Group, LLC(4)(8)(9)
|
|
Buildings and Real Estate
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
170
|
|
|
45
|
|
||
Paradigm DKD Group, LLC(4)(8)(9)
|
|
Buildings and Real Estate
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
34
|
|
|
—
|
|
||
Paradigm DKD Group, LLC(4)(8)(9)
|
|
Buildings and Real Estate
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
963
|
|
|
—
|
|
||
W3 Co.(8)(9)
|
|
Oil and Gas
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
3
|
|
|
1,632
|
|
||
W3 Co.(8)(9)
|
|
Oil and Gas
|
|
Preferred stock
|
|
N/A
|
|
N/A
|
|
—
|
|
|
224
|
|
||
Total equity investments
|
|
|
|
|
|
|
|
|
|
|
|
$
|
3,378
|
|
||
Total investments
|
|
|
|
|
|
|
|
|
|
$
|
119,781
|
|
|
$
|
116,309
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of December 31, 2019. All interest rates are payable in cash, except where PIK is shown.
|
(2)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(3)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(4)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
(5)
|
Loan was on non-accrual status as of December 31, 2019. As such, no interest is being earned on this investment.
|
(6)
|
The entire commitment was unfunded as of December 31, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
|
(8)
|
Equity investment received as a result of the portfolio company's debt restructuring.
|
(9)
|
Non-income producing.
|
SLF Investment Portfolio as of September 30, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($) /
Shares(2)
|
|
Fair
Value(3)
|
||||
1A Smart Start LLC(4)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.5
|
%
|
$
|
2,961
|
|
|
$
|
2,961
|
|
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
7.1
|
|
6,172
|
|
|
3,703
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
7.1
|
|
422
|
|
|
253
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)(7)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
7.1
|
|
193
|
|
|
(8
|
)
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
10.6
|
|
2,139
|
|
|
4
|
|
||
Boot Barn, Inc.(4)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.6
|
|
6,022
|
|
|
6,022
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.9
|
|
4,418
|
|
|
4,415
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.5
|
|
2,433
|
|
|
2,433
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
17
|
|
|
17
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
8,415
|
|
|
8,415
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
4,239
|
|
|
4,239
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
2,392
|
|
|
2,392
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
1,203
|
|
|
1,203
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
58
|
|
|
58
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
40
|
|
|
40
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
4,773
|
|
|
4,773
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
6.0
|
|
53
|
|
|
53
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
5,905
|
|
|
5,905
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
1,640
|
|
|
1,640
|
|
||
Flexan, LLC(4)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.5
|
|
431
|
|
|
431
|
|
||
Gamma Technologies, LLC(4)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
7.3
|
|
10,084
|
|
|
10,084
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
8.1
|
|
4,288
|
|
|
4,288
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
2,276
|
|
|
2,276
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
118
|
|
|
118
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
63
|
|
|
63
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
8.2
|
|
1,286
|
|
|
1,286
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
8.2
|
|
1,338
|
|
|
1,338
|
|
||
Mediaocean LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
08/2020
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Paradigm DKD Group, LLC(4)(5)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.4
|
|
1,480
|
|
|
1,094
|
|
||
Paradigm DKD Group, LLC(4)(5)(7)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.4
|
|
(16
|
)
|
|
(59
|
)
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(4)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
6.0
|
|
5,264
|
|
|
5,264
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
4,465
|
|
|
4,376
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
60
|
|
|
58
|
|
SLF Investment Portfolio as of September 30, 2019 - (continued)
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($) /
Shares(2)
|
|
Fair
Value(3)
|
||||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
%
|
$
|
52
|
|
|
$
|
51
|
|
Pyramid Healthcare, Inc.(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
10,047
|
|
|
10,047
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.2
|
|
257
|
|
|
257
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
147
|
|
|
147
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
99
|
|
|
99
|
|
||
RSC Acquisition, Inc.(4)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.4
|
|
3,785
|
|
|
3,785
|
|
||
RSC Acquisition, Inc.(4)
|
|
Insurance
|
|
Senior loan
|
|
11/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Rubio's Restaurants, Inc(4)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
10/2019
|
|
9.1
|
|
4,890
|
|
|
4,890
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.35% cash/1.00% PIK
|
|
4,341
|
|
|
3,907
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
70
|
|
|
62
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
63
|
|
|
57
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
45
|
|
|
40
|
|
||
SEI, Inc.(4)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
6.8
|
|
11,004
|
|
|
11,004
|
|
||
SEI, Inc.
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Self Esteem Brands, LLC(4)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
|
9,561
|
|
|
9,561
|
|
||
Self Esteem Brands, LLC(4)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
8.3
|
|
415
|
|
|
415
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
4,190
|
|
|
3,771
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
3,285
|
|
|
2,956
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
567
|
|
|
511
|
|
||
Teasdale Quality Foods, Inc.(4)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
424
|
|
|
382
|
|
||
Teasdale Quality Foods, Inc.
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
210
|
|
|
189
|
|
||
Upstream Intermediate, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2024
|
|
6.0
|
|
2,796
|
|
|
2,796
|
|
||
WHCG Management, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
8.1
|
|
7,820
|
|
|
7,820
|
|
||
WIRB-Copernicus Group, Inc.(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.4
|
|
5,554
|
|
|
5,554
|
|
||
Total senior loan investments
|
|
|
|
|
|
|
|
|
|
$
|
154,254
|
|
|
$
|
147,436
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Paradigm DKD Group, LLC(4)(8)(9)
|
|
Buildings and Real Estate
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
170
|
|
|
$
|
62
|
|
|
Paradigm DKD Group, LLC(4)(8)(9)
|
|
Buildings and Real Estate
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
963
|
|
|
—
|
|
||
Paradigm DKD Group, LLC(4)(8)(9)
|
|
Buildings and Real Estate
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
34
|
|
|
—
|
|
||
Joerns Healthcare, LLC(4)(8)(9)
|
|
Healthcare, Education and Childcare
|
|
Common Stock
|
|
N/A
|
|
N/A
|
|
309
|
|
|
3,017
|
|
||
W3 Co. (8)(9)
|
|
Oil and Gas
|
|
LLC units
|
|
N/A
|
|
N/A
|
|
3
|
|
|
1,526
|
|
||
W3 Co. (8)(9)
|
|
Oil and Gas
|
|
Preferred stock
|
|
N/A
|
|
N/A
|
|
—
|
|
|
218
|
|
||
Total equity investments
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
4,823
|
|
|
Total investments
|
|
|
|
|
|
|
|
|
|
$
|
154,254
|
|
|
$
|
152,259
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of September 30, 2019. All interest rates are payable in cash, except where PIK is shown.
|
(2)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(3)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(4)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
(5)
|
Loan was on non-accrual status as of September 30, 2019. As such, no interest is being earned on this investment.
|
(6)
|
The entire commitment was unfunded as of September 30, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
|
(8)
|
Equity investment received as a result of the portfolio company's debt restructuring.
|
(9)
|
Non-income producing.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||
Selected Balance Sheet Information:
|
|
|
|
|
|
||
Investments, at fair value
|
$
|
116,309
|
|
|
$
|
152,259
|
|
Cash and other assets
|
16,889
|
|
|
8,759
|
|
||
Total assets
|
$
|
133,198
|
|
|
$
|
161,018
|
|
Senior credit facility
|
$
|
52,252
|
|
|
$
|
75,581
|
|
Other liabilities
|
416
|
|
|
424
|
|
||
Total liabilities
|
52,668
|
|
|
76,005
|
|
||
Members’ equity
|
80,530
|
|
|
85,013
|
|
||
Total liabilities and members' equity
|
$
|
133,198
|
|
|
$
|
161,018
|
|
|
|
Three months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Selected Statement of Operations Information:
|
|
|
|
|
|
|
||
Interest income
|
|
$
|
2,800
|
|
|
$
|
3,636
|
|
Fee income
|
|
—
|
|
|
9
|
|
||
Total investment income
|
|
2,800
|
|
|
3,645
|
|
||
Interest and other debt financing expense
|
|
634
|
|
|
1,187
|
|
||
Administrative service fee
|
|
61
|
|
|
80
|
|
||
Other expenses
|
|
(15
|
)
|
|
24
|
|
||
Total expenses
|
|
680
|
|
|
1,291
|
|
||
Net investment income
|
|
2,120
|
|
|
2,354
|
|
||
Net realized gain (loss) on investments
|
|
—
|
|
|
(1,314
|
)
|
||
Net change in unrealized appreciation (depreciation) on investments
|
|
(1,603
|
)
|
|
(918
|
)
|
||
Net increase (decrease) in members' equity
|
|
$
|
517
|
|
|
$
|
122
|
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||||
|
Committed
|
|
Funded(1)
|
|
Committed
|
|
Funded(1)
|
||||||||
LLC equity commitments
|
$
|
125,000
|
|
|
$
|
55,264
|
|
|
$
|
125,000
|
|
|
$
|
55,264
|
|
Total
|
$
|
125,000
|
|
|
$
|
55,264
|
|
|
$
|
125,000
|
|
|
$
|
55,264
|
|
|
(1)
|
Funded LLC equity commitments are presented net of return of capital distributions subject to recall.
|
|
As of
|
|
As of
|
||||
|
December 31, 2019
|
|
September 30, 2019
|
||||
Senior secured loans (1)
|
$
|
96,073
|
|
|
$
|
112,864
|
|
Weighted average current interest rate on senior secured loans (2)
|
7.2
|
%
|
|
7.2
|
%
|
||
Number of borrowers in GCIC SLF
|
22
|
|
|
28
|
|
||
Largest portfolio company investment (1)
|
$
|
8,442
|
|
|
$
|
8,464
|
|
Total of five largest portfolio company investments (1)
|
$
|
34,699
|
|
|
$
|
34,273
|
|
|
(1)
|
At principal amount.
|
(2)
|
Computed as the (a) annual stated interest rate on accruing senior secured loans divided by (b) total senior secured loans at principal amount.
|
GCIC SLF Investment Portfolio as of December 31, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
1A Smart Start LLC(3)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
%
|
$
|
1,906
|
|
|
$
|
1,905
|
|
Boot Barn, Inc.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.5
|
|
3,159
|
|
|
3,159
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.7
|
|
3,800
|
|
|
3,796
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.4
|
|
5,777
|
|
|
5,777
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
41
|
|
|
41
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
2,798
|
|
|
2,659
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
1,126
|
|
|
1,069
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
579
|
|
|
550
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
197
|
|
|
187
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
88
|
|
|
84
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
84
|
|
|
80
|
|
||
Elite Sportswear, L.P.(3)(5)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
(19
|
)
|
||
Elite Sportswear, L.P.(3)(5)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
(1
|
)
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
2,628
|
|
|
2,628
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
730
|
|
|
730
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.3
|
|
79
|
|
|
79
|
|
||
G & H Wire Company, Inc(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2023
|
|
7.6
|
|
5,271
|
|
|
5,271
|
|
||
Gamma Technologies, LLC(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
6.8
|
|
4,323
|
|
|
4,323
|
|
||
III US Holdings, LLC(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
9.8
|
|
4,253
|
|
|
4,253
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
1,953
|
|
|
1,953
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
102
|
|
|
102
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
54
|
|
|
54
|
|
||
Mills Fleet Farm Group LLC(3)
|
|
Retail Stores
|
|
Senior loan
|
|
10/2024
|
|
8.29% cash/0.75% PIK
|
|
5,953
|
|
|
5,477
|
|
||
NBC Intermediate, LLC (3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
6.5
|
|
2,565
|
|
|
2,565
|
|
||
NBC Intermediate, LLC (3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
5.8
|
|
4,901
|
|
|
4,901
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
8,103
|
|
|
7,860
|
|
||
1A Smart Start LLC(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
61
|
|
|
59
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
52
|
|
|
51
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
2,419
|
|
|
2,419
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
366
|
|
|
366
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
146
|
|
|
146
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.5
|
|
82
|
|
|
82
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
5,894
|
|
|
5,894
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
1,149
|
|
|
1,149
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
619
|
|
|
619
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
536
|
|
|
536
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
244
|
|
|
244
|
|
||
Rubio's Restaurants, Inc(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
04/2021
|
|
9.46% cash/4.00% PIK
|
|
1,647
|
|
|
1,663
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
6.1
|
|
5,445
|
|
|
5,445
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
8.0
|
|
241
|
|
|
241
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
5,880
|
|
|
5,704
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
290
|
|
|
288
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
100
|
|
|
96
|
|
GCIC SLF Investment Portfolio as of December 31, 2019 - (continued)
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
%
|
$
|
1,006
|
|
|
$
|
926
|
|
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
789
|
|
|
726
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
135
|
|
|
124
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.7
|
|
50
|
|
|
46
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
6.7
|
|
2,152
|
|
|
2,152
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
6.7
|
|
1,000
|
|
|
1,000
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
WIRB-Copernicus Group, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
5.9
|
|
5,300
|
|
|
5,300
|
|
||
Total investments
|
|
|
|
|
|
|
|
|
|
$
|
96,073
|
|
|
$
|
94,759
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of December 31, 2019. All interest rates are payable in cash except where PIK is shown.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(3)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
(4)
|
The entire commitment was unfunded as of December 31, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(5)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
|
GCIC SLF Investment Portfolio as of September 30, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
1A Smart Start LLC(3)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.5
|
%
|
$
|
1,910
|
|
|
$
|
1,910
|
|
Boot Barn, Inc.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.6
|
|
3,159
|
|
|
3,159
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.9
|
|
3,800
|
|
|
3,797
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
33
|
|
|
33
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.5
|
|
5,792
|
|
|
5,792
|
|
||
CLP Healthcare Services, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
2,007
|
|
|
2,007
|
|
||
CLP Healthcare Services, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
1,011
|
|
|
1,011
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
2,053
|
|
|
2,053
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
1,032
|
|
|
1,032
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
40
|
|
|
40
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
58
|
|
|
58
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.5
|
|
121
|
|
|
99
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
1,128
|
|
|
1,061
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
581
|
|
|
546
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
88
|
|
|
83
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
2,806
|
|
|
2,638
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.5
|
|
7
|
|
|
6
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
84
|
|
|
79
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
198
|
|
|
186
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.5
|
|
192
|
|
|
192
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
2,635
|
|
|
2,635
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
732
|
|
|
732
|
|
||
G & H Wire Company, Inc(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2023
|
|
7.8
|
|
5,284
|
|
|
5,284
|
|
||
Gamma Technologies, LLC(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
7.3
|
|
4,334
|
|
|
4,334
|
|
||
III US Holdings, LLC(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
8.1
|
|
4,253
|
|
|
4,253
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
1,958
|
|
|
1,958
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
102
|
|
|
102
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
54
|
|
|
54
|
|
||
Mediaocean LLC(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
08/2020
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Mills Fleet Farm Group LLC(3)
|
|
Retail Stores
|
|
Senior loan
|
|
10/2024
|
|
8.3
|
|
5,955
|
|
|
5,657
|
|
||
NBC Intermediate, LLC(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
NBC Intermediate, LLC(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
6.5
|
|
2,565
|
|
|
2,565
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
6.0
|
|
4,913
|
|
|
4,913
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
8,125
|
|
|
7,962
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
60
|
|
|
58
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
52
|
|
|
51
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.2
|
|
68
|
|
|
68
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
2,426
|
|
|
2,426
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
147
|
|
|
147
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
367
|
|
|
367
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
5,909
|
|
|
5,909
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
621
|
|
|
621
|
|
GCIC SLF Investment Portfolio as of September 30, 2019 - (continued)
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
%
|
$
|
1,152
|
|
|
$
|
1,152
|
|
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
537
|
|
|
537
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
245
|
|
|
245
|
|
||
RSC Acquisition, Inc.(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
RSC Acquisition, Inc.(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.4
|
|
3,255
|
|
|
3,255
|
|
||
Rubio's Restaurants, Inc(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
10/2019
|
|
9.1
|
|
1,641
|
|
|
1,641
|
|
||
SEI, Inc.(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
6.8
|
|
4,154
|
|
|
4,154
|
|
||
SEI, Inc.(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
|
5,445
|
|
|
5,445
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
8.3
|
|
498
|
|
|
498
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.9
|
|
100
|
|
|
94
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.9
|
|
5,895
|
|
|
5,600
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.9
|
|
290
|
|
|
276
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
1,009
|
|
|
908
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
137
|
|
|
123
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
51
|
|
|
46
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
791
|
|
|
712
|
|
||
Upstream Intermediate, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2024
|
|
6.0
|
|
3,532
|
|
|
3,532
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
8.1
|
|
2,158
|
|
|
2,158
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
WIRB-Copernicus Group, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.4
|
|
5,314
|
|
|
5,314
|
|
||
Total investments
|
|
|
|
|
|
|
|
|
|
$
|
112,864
|
|
|
$
|
111,568
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of September 30, 2019. All interest rates are payable in cash.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(3)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
(4)
|
The entire commitment was unfunded as of September 30, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||
Selected Balance Sheet Information:
|
|
|
|
|
|
||
Investments, at fair value
|
$
|
94,759
|
|
|
$
|
111,568
|
|
Cash and other assets
|
5,545
|
|
|
4,627
|
|
||
Total assets
|
$
|
100,304
|
|
|
$
|
116,195
|
|
Senior credit facility
|
$
|
44,416
|
|
|
$
|
59,559
|
|
Other liabilities
|
329
|
|
|
341
|
|
||
Total liabilities
|
44,745
|
|
|
59,900
|
|
||
Members’ equity
|
55,559
|
|
|
56,295
|
|
||
Total liabilities and members' equity
|
$
|
100,304
|
|
|
$
|
116,195
|
|
|
For the three months ended December 31, 2019
|
||
Selected Statement of Operations Information:
|
|
||
Interest income
|
$
|
2,081
|
|
Total investment income
|
2,081
|
|
|
Interest and other debt financing expenses
|
512
|
|
|
Administrative service fee
|
45
|
|
|
Other expenses
|
(24
|
)
|
|
Total expenses
|
533
|
|
|
Net investment income
|
1,548
|
|
|
Net change in unrealized appreciation (depreciation) on investments
|
(108
|
)
|
|
Net increase in members' equity
|
$
|
1,440
|
|
As of December 31, 2019
|
||||||||||||||||||||
Counterparty
|
|
Currency to be sold
|
|
Currency to be purchased
|
|
Settlement date
|
|
Unrealized appreciation ($)
|
|
Unrealized depreciation ($)
|
||||||||||
Macquarie Bank Limited
|
|
£
|
8,925
|
|
GBP
|
|
$
|
11,219
|
|
USD
|
|
3/2/2023
|
|
$
|
—
|
|
|
$
|
(868
|
)
|
Macquarie Bank Limited
|
|
£
|
3,780
|
|
GBP
|
|
$
|
4,804
|
|
USD
|
|
3/27/2023
|
|
—
|
|
|
(319
|
)
|
||
Macquarie Bank Limited
|
|
€
|
6,760
|
|
EUR
|
|
$
|
8,044
|
|
USD
|
|
4/28/2023
|
|
—
|
|
|
(79
|
)
|
||
Macquarie Bank Limited
|
|
€
|
9,300
|
|
EUR
|
|
$
|
10,861
|
|
USD
|
|
4/29/2022
|
|
—
|
|
|
(99
|
)
|
||
|
|
|
|
|
|
|
|
|
|
$
|
—
|
|
|
$
|
(1,365
|
)
|
As of September 30, 2019
|
||||||||||||||||||||
Counterparty
|
|
Currency to be sold
|
|
Currency to be purchased
|
|
Settlement date
|
|
Unrealized appreciation ($)
|
|
Unrealized depreciation ($)
|
||||||||||
Macquarie Bank Limited
|
|
£
|
8,925
|
|
GBP
|
|
$
|
11,219
|
|
USD
|
|
3/2/2023
|
|
$
|
—
|
|
|
$
|
(114
|
)
|
Macquarie Bank Limited
|
|
£
|
3,780
|
|
GBP
|
|
$
|
4,804
|
|
USD
|
|
3/27/2023
|
|
—
|
|
|
(1
|
)
|
||
|
|
|
|
|
|
|
|
|
|
$
|
—
|
|
|
$
|
(115
|
)
|
As of September 30, 2019
|
||||||||||||||||||||||
Counterparty
|
|
Risk exposure category
|
|
Unrealized appreciation on forward currency contracts
|
|
Unrealized depreciation on forward currency contracts
|
|
Net amounts presented in the Consolidated Statement of Financial Condition
|
|
Collateral (Received) Pledged (1)
|
|
Net Amount (2)
|
||||||||||
Macquarie Bank Limited
|
|
Foreign exchange
|
|
$
|
—
|
|
|
$
|
(115
|
)
|
|
$
|
(115
|
)
|
|
$
|
115
|
|
|
$
|
—
|
|
(2)
|
Represents the net amount due from/(to) counterparties in the event of default.
|
Average U.S. Dollar notional outstanding
|
|
For the three months ended December 31, 2019
|
||
Forward currency contracts
|
|
$
|
29,997
|
|
As of December 31, 2019
|
|
Fair Value Measurements Using
|
||||||||||||||
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets, at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments(1)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4,242,256
|
|
|
$
|
4,242,256
|
|
Equity investments(1)
|
|
—
|
|
|
—
|
|
|
86,982
|
|
|
86,982
|
|
||||
Money market funds(1)(2)
|
|
34,910
|
|
|
—
|
|
|
—
|
|
|
34,910
|
|
||||
Investments measured at NAV(3)(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
119,078
|
|
||||
Total assets, at fair value:
|
|
$
|
34,910
|
|
|
$
|
—
|
|
|
$
|
4,329,238
|
|
|
$
|
4,483,226
|
|
Liabilities at fair value:
|
|
|
|
|
|
|
|
|
||||||||
Forward currency contracts
|
|
$
|
—
|
|
|
$
|
(1,365
|
)
|
|
$
|
—
|
|
|
$
|
(1,365
|
)
|
Total liabilities, at fair value:
|
|
$
|
—
|
|
|
$
|
(1,365
|
)
|
|
$
|
—
|
|
|
$
|
(1,365
|
)
|
As of September 30, 2019
|
|
Fair Value Measurements Using
|
||||||||||||||
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets, at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Debt investments(1)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4,083,298
|
|
|
$
|
4,083,298
|
|
Equity investments(1)
|
|
—
|
|
|
—
|
|
|
85,990
|
|
|
85,990
|
|
||||
Money market funds(1)(2)
|
|
9,963
|
|
|
—
|
|
|
—
|
|
|
9,963
|
|
||||
Investment measured at NAV(3)(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
123,644
|
|
||||
Total assets, at fair value:
|
|
$
|
9,963
|
|
|
$
|
—
|
|
|
$
|
4,169,288
|
|
|
$
|
4,302,895
|
|
Liabilities at fair value:
|
|
|
|
|
|
|
|
|
||||||||
Forward currency contracts
|
|
$
|
—
|
|
|
$
|
(115
|
)
|
|
$
|
—
|
|
|
$
|
(115
|
)
|
Total liabilities, at fair value:
|
|
$
|
—
|
|
|
$
|
(115
|
)
|
|
$
|
—
|
|
|
$
|
(115
|
)
|
|
(1)
|
Refer to the Consolidated Schedules of Investments for further details.
|
(2)
|
Included in cash and cash equivalents, restricted cash and cash equivalents, foreign currencies and restricted foreign currencies on the Consolidated Statements of Financial Condition.
|
(3)
|
Certain investments that are measured at fair value using the NAV have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Financial Condition.
|
(4)
|
Represents the Company's investments in LLC equity interests in the SLFs. The fair value of these investments have been determined using the NAV of the Company’s ownership interest in members’ capital.
|
|
For the three months ended December 31, 2019
|
||||||||||
|
Debt
Investments
|
|
Equity
Investments
|
|
Total
Investments
|
||||||
Fair value, beginning of period
|
$
|
4,083,298
|
|
|
$
|
85,990
|
|
|
$
|
4,169,288
|
|
Net change in unrealized appreciation (depreciation) on investments
|
14,691
|
|
|
1,716
|
|
|
16,407
|
|
|||
Realized gain (loss) on investments
|
59
|
|
|
2,597
|
|
|
2,656
|
|
|||
Funding of (proceeds from) revolving loans, net
|
239
|
|
|
—
|
|
|
239
|
|
|||
Fundings of investments
|
294,799
|
|
|
2,015
|
|
|
296,814
|
|
|||
PIK interest
|
1,633
|
|
|
—
|
|
|
1,633
|
|
|||
Proceeds from principal payments and sales of portfolio investments
|
(144,594
|
)
|
|
(5,336
|
)
|
|
(149,930
|
)
|
|||
Accretion of discounts and amortization of premiums
|
(7,869
|
)
|
|
—
|
|
|
(7,869
|
)
|
|||
Fair value, end of period
|
$
|
4,242,256
|
|
|
$
|
86,982
|
|
|
$
|
4,329,238
|
|
|
For the three months ended December 31, 2018
|
||||||||||
|
Debt
Investments
|
|
Equity
Investments
|
|
Total
Investments
|
||||||
Fair value, beginning of period
|
$
|
1,671,051
|
|
|
$
|
40,706
|
|
|
$
|
1,711,757
|
|
Net change in unrealized appreciation (depreciation) on investments
|
(2,139
|
)
|
|
2,482
|
|
|
343
|
|
|||
Realized gain (loss) on investments
|
164
|
|
|
(2,112
|
)
|
|
(1,948
|
)
|
|||
Funding of (proceeds from) revolving loans, net
|
2,531
|
|
|
—
|
|
|
2,531
|
|
|||
Fundings of investments
|
190,632
|
|
|
5,099
|
|
|
195,731
|
|
|||
PIK interest
|
543
|
|
|
—
|
|
|
543
|
|
|||
Proceeds from principal payments and sales of portfolio investments
|
(60,270
|
)
|
|
(1,076
|
)
|
|
(61,346
|
)
|
|||
Accretion of discounts and amortization of premiums
|
1,953
|
|
|
—
|
|
|
1,953
|
|
|||
Fair value, end of period
|
$
|
1,804,465
|
|
|
$
|
45,099
|
|
|
$
|
1,849,564
|
|
Quantitative information about Level 3 Fair Value Measurements
|
|||||||||
|
Fair value as of December 31, 2019
|
|
Valuation Techniques
|
|
Unobservable Input
|
|
Range (Weighted Average) (1)
|
||
Assets:
|
|
|
|
|
|
|
|
|
|
Senior secured loans(2)
|
$
|
527,931
|
|
|
Market rate approach
|
|
Market interest rate
|
|
4.3% - 12.8% (6.6%)
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
7.0x - 23.5x (12.8x)
|
|
|
11,204
|
|
|
Market comparable
|
|
Broker/dealer bids or quotes
|
|
N/A
|
|
One stop loans(3)(4)
|
$
|
3,629,703
|
|
|
Market rate approach
|
|
Market interest rate
|
|
5.5% - 21.8% (7.9%)
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
5.0x - 33.0x (14.9x)
|
||
|
|
|
|
|
Revenue multiples
|
|
2.0x - 11.0x (6.3x)
|
||
Subordinated debt and second lien loans(5)
|
$
|
20,291
|
|
|
Market rate approach
|
|
Market interest rate
|
|
4.0% - 19.5% (11.0%)
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
9.0x - 17.5x (13.4x)
|
||
|
|
|
|
|
|
Revenue multiples
|
|
4.0x - 5.0x (4.9x)
|
|
Equity(6)(7)
|
$
|
86,982
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
5.0x - 33.0x (14.3x)
|
|
|
|
|
|
Revenue multiples
|
|
2.0x - 6.5x (4.1x)
|
|
(1)
|
Unobservable inputs were weighted by the relative fair value of the instruments.
|
(2)
|
Excludes $6,041 of non-accrual loans at fair value, which the Company valued using the market comparable companies approach.
|
(3)
|
Excludes $47,086 of non-accrual loans at fair value, which the Company valued using the market comparable companies approach.
|
(4)
|
The Company valued $3,220,426 and $409,277 of one stop loans using EBITDA and revenue multiples, respectively. All one stop loans were also valued using the market rate approach.
|
(5)
|
The Company valued $20,145 and $146 of subordinated debt and second lien loans using EBITDA and revenue multiples, respectively. All subordinated debt and second lien loans were also valued using the market rate approach.
|
(6)
|
Excludes $119,078 of LLC equity interests in the SLFs at fair value, which the Company valued using the NAV.
|
(7)
|
The Company valued $75,808 and $11,174 of equity investments using EBITDA and revenue multiples, respectively.
|
Quantitative information about Level 3 Fair Value Measurements
|
|||||||||
|
Fair value as of September 30, 2019
|
|
Valuation Techniques
|
|
Unobservable Input
|
|
Range
(Weighted Average)(1)
|
||
Assets:
|
|
|
|
|
|
|
|
|
|
Senior secured loans(2)
|
$
|
573,582
|
|
|
Market rate approach
|
|
Market interest rate
|
|
4.3% - 11.3% (6.7%)
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
7.0x - 24.0x (12.9x)
|
|
|
9,901
|
|
|
Market comparable
|
|
Broker/dealer bids or quotes
|
|
N/A
|
|
One stop loans(3)(4)
|
$
|
3,466,310
|
|
|
Market rate approach
|
|
Market interest rate
|
|
5.3% - 30.8% (8.2%)
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
5.0x - 28.5x (14.3x)
|
||
|
|
|
|
|
Revenue multiples
|
|
2.0x - 11.0x (5.9x)
|
||
Subordinated debt and second lien loans(5)
|
$
|
19,842
|
|
|
Market rate approach
|
|
Market interest rate
|
|
7.5% - 19.5% (11.1%)
|
|
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
8.5x - 17.5x (13.3x)
|
|
|
|
|
|
|
Revenue multiples
|
|
3.0x - 3.0x (3.0x)
|
||
Equity(6)(7)
|
$
|
85,990
|
|
|
Market comparable companies
|
|
EBITDA multiples
|
|
5.0x - 28.5x (14.1x)
|
|
|
|
|
|
Revenue multiples
|
|
2.0x - 6.5x (4.0x)
|
|
(1)
|
Unobservable inputs were weighted by the relative fair value of the instruments.
|
(2)
|
Excludes $5,857 of non-accrual loans at fair value, which the Company valued using the market comparable companies approach.
|
(3)
|
Excludes $7,806 of non-accrual loans at fair value, which the Company valued using the market comparable companies approach.
|
(4)
|
The Company valued $3,051,629 and $414,681 of one stop loans using EBITDA and revenue multiples, respectively. All one stop loans were also valued using the market rate approach.
|
(5)
|
The Company valued $19,834 and $8 of subordinated debt and second lien loans using EBITDA and revenue multiples, respectively. All subordinated debt and second lien loans were also valued using the market rate approach.
|
(6)
|
Excludes $123,644 of LLC equity interests in SLF at fair value, which the Company valued using the NAV.
|
(7)
|
The Company valued $74,958 and $11,032 of equity investments using EBITDA and revenue multiples, respectively.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||||
|
Carrying Value
|
|
Fair Value
|
|
Carrying Value
|
|
Fair Value
|
||||||||
Debt
|
$
|
2,264,823
|
|
|
$
|
2,262,900
|
|
|
$
|
2,124,392
|
|
|
$
|
2,125,683
|
|
Other short-term borrowings
|
65,833
|
|
|
65,833
|
|
|
—
|
|
|
—
|
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
966
|
|
|
$
|
1,701
|
|
Amortization of debt issuance costs
|
—
|
|
|
110
|
|
||
Total interest and other debt financing expenses
|
$
|
966
|
|
|
$
|
1,811
|
|
Cash paid for interest expense
|
$
|
1,082
|
|
|
$
|
1,698
|
|
Annualized average stated interest rate
|
3.2
|
%
|
|
3.5
|
%
|
||
Average outstanding balance
|
$
|
121,496
|
|
|
$
|
191,216
|
|
Description
|
|
Class A-1-R 2014 Notes
|
|
Class A-2-R 2014 Notes
|
|
Class B-R 2014 Notes
|
Type
|
|
Senior Secured Floating Rate
|
|
Senior Secured Floating Rate
|
|
Senior Secured Floating Rate
|
Amount Outstanding
|
|
$76,751
|
|
$8,037
|
|
$35,000
|
Moody’s Rating
|
|
"Aaa"
|
|
"Aaa"
|
|
"Aa1"
|
S&P Rating
|
|
"AAA"
|
|
"AAA"
|
|
"AA+"
|
Interest Rate
|
|
LIBOR + 0.95%
|
|
LIBOR + 0.95%
|
|
LIBOR + 1.40%
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
3,830
|
|
|
$
|
2,225
|
|
Amortization of debt issuance costs
|
106
|
|
|
53
|
|
||
Total interest and other debt financing expenses
|
$
|
3,936
|
|
|
$
|
2,278
|
|
Cash paid for interest expense
|
$
|
4,040
|
|
|
$
|
—
|
|
Annualized average stated interest rate
|
3.7
|
%
|
|
4.3
|
%
|
||
Average outstanding balance
|
$
|
408,200
|
|
|
$
|
204,100
|
|
Description
|
|
Class A 2018 Notes
|
|
Class B 2018 Notes
|
|
Class C-1 2018 Notes
|
Type
|
|
Senior Secured Floating Rate
|
|
Senior Secured Floating Rate
|
|
Senior Secured Floating Rate
|
Amount Outstanding
|
|
$327,000
|
|
$61,200
|
|
$20,000
|
Fitch Rating
|
|
"AAA"
|
|
"NR"
|
|
"NR"
|
S&P Rating
|
|
"AAA"
|
|
"AA"
|
|
"A"
|
Interest Rate
|
|
LIBOR + 1.48%
|
|
LIBOR + 2.10%
|
|
LIBOR + 2.80%
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
5,178
|
|
|
$
|
—
|
|
Cash paid for interest expense
|
5,431
|
|
|
—
|
|
||
Annualized average stated interest rate
|
3.8
|
%
|
|
N/A
|
|
||
Average outstanding balance
|
$
|
546,500
|
|
|
$
|
—
|
|
Description
|
|
Class A-1 GCIC 2018 Notes
|
|
Class A-2 GCIC 2018 Notes
|
|
Class B-1 GCIC 2018 Notes
|
Type
|
|
Senior Secured Floating Rate
|
|
Senior Secured Fixed Rate
|
|
Senior Secured Floating Rate
|
Amount Outstanding
|
|
$490,000
|
|
$38,500
|
|
$18,000
|
Fitch’s Rating
|
|
"AAA"
|
|
"NR"
|
|
"NR"
|
S&P Rating
|
|
"AAA"
|
|
"AAA"
|
|
"AA"
|
Interest Rate
|
|
LIBOR + 1.48%
|
|
4.67%
|
|
LIBOR + 2.25%
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
2,443
|
|
|
$
|
2,363
|
|
Amortization of debt issuance costs
|
281
|
|
|
218
|
|
||
Total interest and other debt financing expenses
|
$
|
2,724
|
|
|
$
|
2,581
|
|
Cash paid for interest expense
|
$
|
—
|
|
|
$
|
—
|
|
Annualized average stated interest rate
|
3.2
|
%
|
|
3.4
|
%
|
||
Average outstanding balance
|
$
|
301,870
|
|
|
$
|
277,500
|
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
—
|
|
|
$
|
976
|
|
Facility fees
|
—
|
|
|
185
|
|
||
Amortization of debt issuance costs
|
—
|
|
|
98
|
|
||
Total interest and other debt financing expenses
|
$
|
—
|
|
|
$
|
1,259
|
|
Cash paid for interest expense and facility fees
|
$
|
—
|
|
|
$
|
1,249
|
|
Annualized average stated interest rate
|
N/A
|
|
|
4.5
|
%
|
||
Average outstanding balance
|
$
|
—
|
|
|
$
|
86,079
|
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
—
|
|
|
$
|
1,453
|
|
Amortization of debt issuance costs
|
—
|
|
|
190
|
|
||
Total interest and other debt financing expenses
|
$
|
—
|
|
|
$
|
1,643
|
|
Cash paid for interest expense and facility fees
|
$
|
—
|
|
|
$
|
3,174
|
|
Annualized average stated interest rate
|
N/A
|
|
|
4.2
|
%
|
||
Average outstanding balance
|
$
|
—
|
|
|
$
|
135,661
|
|
|
For the three months ended December 31,
|
|||||
|
2019
|
2018
|
||||
Stated interest expense
|
$
|
3,315
|
|
$
|
—
|
|
Facility fees
|
172
|
|
—
|
|
||
Amortization of debt issuance costs
|
184
|
|
—
|
|
||
Total interest and other debt financing expenses
|
$
|
3,671
|
|
$
|
—
|
|
Cash paid for interest expense and facility fees
|
2,161
|
|
—
|
|
||
Annualized average stated interest rate
|
3.8
|
%
|
N/A
|
|
||
Average outstanding balance
|
$
|
344,794
|
|
$
|
—
|
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
2,382
|
|
|
$
|
—
|
|
Facility fees
|
66
|
|
|
—
|
|
||
Total interest and other debt financing expenses
|
$
|
2,448
|
|
|
$
|
—
|
|
Cash paid for interest expense
|
$
|
2,379
|
|
|
$
|
—
|
|
Annualized average stated interest rate
|
3.8
|
%
|
|
N/A
|
|
||
Average outstanding balance
|
$
|
248,653
|
|
|
$
|
—
|
|
|
For the three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Stated interest expense
|
$
|
2,528
|
|
|
$
|
—
|
|
Cash paid for interest expense
|
2,652
|
|
|
—
|
|
||
Annualized average stated interest rate
|
4.1
|
%
|
|
N/A
|
|
||
Average outstanding balance
|
$
|
246,297
|
|
|
$
|
—
|
|
|
Payments Due by Period
|
||||||||||||||||||
|
Total
|
|
Less Than
1 Year
|
|
1 – 3 Years
|
|
3 – 5 Years
|
|
More Than
5 Years
|
||||||||||
2014 Debt Securitization
|
$
|
119,788
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
119,788
|
|
2018 Debt Securitization
|
408,200
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
408,200
|
|
|||||
2018 GCIC Debt Securitization(1)
|
541,145
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
541,145
|
|
|||||
SBA Debentures
|
305,000
|
|
|
—
|
|
|
78,500
|
|
|
60,250
|
|
|
166,250
|
|
|||||
WF Credit Facility
|
273,995
|
|
|
—
|
|
|
—
|
|
|
273,995
|
|
|
—
|
|
|||||
MS Credit Facility II
|
385,199
|
|
|
—
|
|
|
—
|
|
|
385,199
|
|
|
—
|
|
|||||
DB Credit Facility
|
231,496
|
|
|
—
|
|
|
—
|
|
|
231,496
|
|
|
—
|
|
|||||
Other short-term borrowings
|
65,833
|
|
|
65,833
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total borrowings
|
$
|
2,330,656
|
|
|
$
|
65,833
|
|
|
$
|
78,500
|
|
|
$
|
950,940
|
|
|
$
|
1,235,383
|
|
|
|
For the three months ended December 31,
|
||||||
Per share data:(1)
|
|
2019
|
|
2018
|
||||
Net asset value at beginning of period
|
|
$
|
16.76
|
|
|
$
|
16.10
|
|
Net increase in net assets as a result of issuance of DRIP shares(2)
|
|
0.01
|
|
|
—
|
|
||
Distributions declared:
|
|
|
|
|
||||
From net investment income
|
|
(0.38
|
)
|
|
(0.31
|
)
|
||
From capital gains
|
|
(0.08
|
)
|
|
(0.13
|
)
|
||
Net investment income
|
|
0.24
|
|
|
0.33
|
|
||
Net realized gain (loss) on investments and foreign currency transactions
|
|
0.02
|
|
|
(0.03
|
)
|
||
Net change in unrealized appreciation (depreciation) on investments and foreign currency translation
|
|
0.09
|
|
|
0.01
|
|
||
Net asset value at end of period
|
|
$
|
16.66
|
|
|
$
|
15.97
|
|
Per share market value at end of period
|
|
$
|
18.45
|
|
|
$
|
16.49
|
|
Total return based on market value(3)
|
|
0.49
|
%
|
|
(9.65
|
)%
|
||
Number of common shares outstanding
|
|
133,805,764
|
|
|
60,422,239
|
|
|
|
For the three months ended December 31,
|
||||||
Listed below are supplemental data and ratios to the financial highlights:
|
|
2019
|
|
2018
|
||||
Ratio of net investment income to average net assets*
|
|
5.85
|
%
|
|
8.10
|
%
|
||
Ratio of total expenses to average net assets(4)*
|
|
7.41
|
%
|
|
7.40
|
%
|
||
Ratio of incentive fees to average net assets
|
|
0.27
|
%
|
|
0.20
|
%
|
||
Ratio of expenses (without incentive fees) to average net assets*
|
|
7.14
|
%
|
|
7.20
|
%
|
||
Total return based on average net asset value(5)*
|
|
8.41
|
%
|
|
7.54
|
%
|
||
Net assets at end of period
|
|
$
|
2,229,082
|
|
|
$
|
964,954
|
|
Average debt outstanding
|
|
$
|
2,284,590
|
|
|
$
|
911,608
|
|
Average debt outstanding per share
|
|
$
|
17.07
|
|
|
$
|
15.09
|
|
Portfolio turnover*
|
|
13.89
|
%
|
|
13.69
|
%
|
||
Asset coverage ratio(6)
|
|
208.67
|
%
|
|
234.02
|
%
|
||
Asset coverage ratio per unit(7)
|
|
$
|
2,087
|
|
|
$
|
2,340
|
|
Average market value per unit:(8)
|
|
|
|
|
||||
2010 Debt Securitization
|
|
N/A
|
|
|
N/A
|
|
||
2014 Debt Securitization
|
|
N/A
|
|
|
N/A
|
|
||
2018 Debt Securitization
|
|
N/A
|
|
|
N/A
|
|
||
2018 GCIC Debt Securitization
|
|
N/A
|
|
|
N/A
|
|
||
SBA Debentures
|
|
N/A
|
|
|
N/A
|
|
||
GCIC Credit Facility
|
|
N/A
|
|
|
N/A
|
|
||
MS Credit Facility
|
|
N/A
|
|
|
N/A
|
|
||
MS Credit Facility II
|
|
N/A
|
|
|
N/A
|
|
||
Revolver
|
|
N/A
|
|
|
N/A
|
|
||
WF Credit Facility
|
|
N/A
|
|
|
N/A
|
|
||
DB Credit Facility
|
|
N/A
|
|
|
N/A
|
|
||
Adviser Revolver
|
|
N/A
|
|
|
N/A
|
|
||
Adviser Revolver II
|
|
N/A
|
|
|
N/A
|
|
|
(1)
|
Based on actual number of shares outstanding at the end of the corresponding period or the weighted average shares outstanding for the period, unless otherwise noted, as appropriate.
|
(2)
|
Net increase in net assets as a result of issuance of shares related to shares issued through the DRIP.
|
(3)
|
Total return based on market value assumes distributions are reinvested in accordance with the DRIP. Total return does not include sales load.
|
(4)
|
Expenses, other than incentive fees, are annualized for a period less than one year.
|
|
|
Three months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Earnings available to stockholders
|
|
$
|
47,048
|
|
|
$
|
18,439
|
|
Basic and diluted weighted average shares outstanding
|
|
132,683,147
|
|
|
60,176,619
|
|
||
Basic and diluted earnings per share
|
|
$
|
0.35
|
|
|
$
|
0.31
|
|
Date Declared
|
|
Record Date
|
|
Payment Date
|
|
Amount
Per Share
|
|
Cash
Distribution
|
|
DRIP Shares
Issued
|
|
DRIP Shares
Value
|
||||||||
Three months ended December 31, 2019
|
|
|
|
|
|
|
|
|
||||||||||||
|
11/22/2019
|
|
12/12/2019
|
|
12/30/2019
|
|
$
|
0.46
|
|
(1)
|
$
|
40,820
|
|
|
1,147,564
|
|
|
$
|
20,197
|
|
Three months ended December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
11/27/2018
|
|
12/12/2018
|
|
12/28/2018
|
|
$
|
0.44
|
|
(2)
|
$
|
22,339
|
|
|
256,785
|
|
|
$
|
4,134
|
|
|
(1)
|
Includes a special distribution of $0.13 per share.
|
(2)
|
Includes a special distribution of $0.12 per share.
|
•
|
our future operating results;
|
•
|
our business prospects and the prospects of our portfolio companies;
|
•
|
the effect of investments that we expect to make and the competition for those investments;
|
•
|
our contractual arrangements and relationships with third parties;
|
•
|
actual and potential conflicts of interest with GC Advisors LLC, or GC Advisors, and other affiliates of Golub Capital LLC, or collectively, Golub Capital;
|
•
|
the dependence of our future success on the general economy and its effect on the industries in which we invest;
|
•
|
the ability of our portfolio companies to achieve their objectives;
|
•
|
the use of borrowed money to finance a portion of our investments;
|
•
|
the adequacy of our financing sources and working capital;
|
•
|
the timing of cash flows, if any, from the operations of our portfolio companies;
|
•
|
general economic and political trends and other external factors;
|
•
|
the ability of GC Advisors to locate suitable investments for us and to monitor and administer our investments;
|
•
|
the ability of GC Advisors or its affiliates to attract and retain highly talented professionals;
|
•
|
our ability to qualify and maintain our qualification as a regulated investment company, or RIC, and as a business development company;
|
•
|
general price and volume fluctuations in the stock markets;
|
•
|
the impact on our business of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or Dodd-Frank, and the rules and regulations issued thereunder and any actions toward repeal thereof; and
|
•
|
the effect of changes to tax legislation and our tax position.
|
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||
Investment Type
|
|
Investments at
Fair Value
(In thousands)
|
|
Percentage of
Total Investments |
|
Investments at
Fair Value
(In thousands)
|
|
Percentage of
Total
Investments
|
||||||
Senior secured
|
|
$
|
545,176
|
|
|
12.2
|
%
|
|
$
|
589,340
|
|
|
13.7
|
%
|
One stop
|
|
3,676,789
|
|
|
82.7
|
|
|
3,474,116
|
|
|
80.9
|
|
||
Second lien
|
|
19,781
|
|
|
0.4
|
|
|
19,473
|
|
|
0.5
|
|
||
Subordinated debt
|
|
510
|
|
|
0.0
|
*
|
|
369
|
|
|
0.0
|
*
|
||
LLC equity interests in SLF and GCIC SLF(1)
|
|
119,078
|
|
|
2.7
|
|
|
123,644
|
|
|
2.9
|
|
||
Equity
|
|
86,982
|
|
|
2.0
|
|
|
85,990
|
|
|
2.0
|
|
||
Total
|
|
$
|
4,448,316
|
|
|
100.0
|
%
|
|
$
|
4,292,932
|
|
|
100.0
|
%
|
|
*
|
Represents an amount less than 0.1%.
|
(1)
|
Proceeds from limited liability company, or LLC, equity interests invested in Senior Loan Fund LLC, or SLF, and GCIC Senior Loan Fund LLC, or GCIC SLF, were utilized by SLF and GCIC SLF, or the Senior Loan Funds and each a Senior Loan Fund, to invest in senior secured loans.
|
|
|
For the three months ended December 31,
|
||
|
|
2019
|
|
2018
|
Weighted average annualized income yield (1)
|
|
8.0%
|
|
8.6%
|
Weighted average annualized investment income yield (2)
|
|
8.4%
|
|
9.1%
|
Total return based on average net asset value (3)*
|
|
8.4%
|
|
7.5%
|
Total return based on market value (4)
|
|
0.5%
|
|
(9.7)%
|
|
(1)
|
Represents income from interest and fees, excluding amortization of capitalized fees, discounts and purchase premium (as described in Note 2 of the consolidated financial statements), divided by the average fair value of earning portfolio company investments, and does not represent a return to any investor in us.
|
(2)
|
Represents income from interest, fees and amortization of capitalized fees and discounts, excluding amortization of purchase premium (as described in Note 2 of the consolidated financial statements), divided by the average fair value of earning portfolio investments, and does not represent a return to any investor in us.
|
(3)
|
Total return based on average net asset value is calculated as (a) the net increase in net assets resulting from operations divided by (b) the daily average of total net assets. Total return does not include sales load.
|
(4)
|
Total return based on market value assumes distributions are reinvested in accordance with the DRIP. Total return does not include sales load.
|
•
|
calculating our net asset value, or NAV (including the cost and expenses of any independent valuation firm);
|
•
|
fees and expenses incurred by GC Advisors payable to third parties, including agents, consultants or other advisors, in monitoring financial and legal affairs for us and in monitoring our investments and performing due diligence on our prospective portfolio companies or otherwise relating to, or associated with, evaluating and making investments, which fees and expenses include, among other items, due diligence reports, appraisal reports, any studies commissioned by GC Advisors and travel and lodging expenses;
|
•
|
expenses related to unsuccessful portfolio acquisition efforts;
|
•
|
offerings of our common stock and other securities;
|
•
|
administration fees and expenses, if any, payable under the Administration Agreement (including payments based upon our allocable portion of the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent and the allocable portion of the cost of our chief compliance officer, chief financial officer and their respective staffs);
|
•
|
fees payable to third parties, including agents, consultants or other advisors, relating to, or associated with, evaluating and making investments in portfolio companies, including costs associated with meeting financial sponsors;
|
•
|
transfer agent, dividend agent and custodial fees and expenses;
|
•
|
U.S. federal and state registration and franchise fees;
|
•
|
all costs of registration and listing our shares on any securities exchange;
|
•
|
U.S. federal, state and local taxes;
|
•
|
independent directors’ fees and expenses;
|
•
|
costs of preparing and filing reports or other documents required by the SEC or other regulators;
|
•
|
costs of any reports, proxy statements or other notices to stockholders, including printing costs;
|
•
|
costs associated with individual or group stockholders;
|
•
|
costs associated with compliance under the Sarbanes-Oxley Act of 2002, as amended, or the Sarbanes-Oxley Act;
|
•
|
our allocable portion of any fidelity bond, directors and officers/errors and omissions liability insurance, and any other insurance premiums;
|
•
|
direct costs and expenses of administration, including printing, mailing, long distance telephone, copying, secretarial and other staff, independent auditors and outside legal costs;
|
•
|
proxy voting expenses; and
|
•
|
all other expenses incurred by us or the Administrator in connection with administering our business.
|
|
For the three months ended December 31,
|
Variances
|
|||||||||
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
(In thousands)
|
||||||||||
Interest income
|
$
|
84,322
|
|
|
$
|
36,897
|
|
|
$
|
47,425
|
|
Income from accretion of discounts and origination fees
|
3,968
|
|
|
1,953
|
|
|
2,015
|
|
|||
GCIC acquisition purchase premium amortization
|
(11,837
|
)
|
|
—
|
|
|
(11,837
|
)
|
|||
Dividend income from LLC equity interests in SLF and GCIC SLF
|
1,905
|
|
|
—
|
|
|
1,905
|
|
|||
Dividend income
|
34
|
|
|
39
|
|
|
(5
|
)
|
|||
Fee income
|
215
|
|
|
522
|
|
|
(307
|
)
|
|||
Total investment income
|
78,607
|
|
|
39,411
|
|
|
39,196
|
|
|||
Total expenses
|
45,876
|
|
|
19,594
|
|
|
26,282
|
|
|||
Net investment income
|
32,731
|
|
|
19,817
|
|
|
12,914
|
|
|||
Net realized gain (loss) on investment transactions
|
2,501
|
|
|
(1,978
|
)
|
|
4,479
|
|
|||
Net change in unrealized appreciation (depreciation) on investment transactions excluding purchase premium
|
(61
|
)
|
|
600
|
|
|
(661
|
)
|
|||
Net change in unrealized depreciation on investment transactions due to purchase premium
|
11,877
|
|
|
—
|
|
|
11,877
|
|
|||
Net gain (loss) on investment transactions
|
14,317
|
|
|
(1,378
|
)
|
|
15,695
|
|
|||
Net increase (decrease) in net assets resulting from operations
|
$
|
47,048
|
|
|
$
|
18,439
|
|
|
$
|
28,609
|
|
Average earning debt investments, at fair value(1)
|
$
|
4,190,808
|
|
|
$
|
1,723,801
|
|
|
$
|
2,467,007
|
|
|
(1)
|
Does not include our investments in LLC equity interests in SLF and GCIC SLF.
|
•
|
“Adjusted Net Investment Income” - excludes the amortization of the purchase price premium and the accrual for the capital gain incentive fee (including the portion of such accrual that is not payable under the Investment Advisory Agreement or Prior Investment Advisory Agreement) from net investment income calculated in accordance with GAAP;
|
•
|
“Adjusted Net Realized and Unrealized Gain/(Loss)” - excludes the unrealized loss resulting from the purchase premium write-down and the corresponding reversal of the unrealized loss resulting from the amortization of the premium on loans or from the sale of equity investments from the determination of realized and unrealized gain/(loss) determined in accordance with GAAP; and
|
•
|
“Adjusted Net Income” – calculates net income and earnings per share based on Adjusted Net Investment Income and Adjusted Net Realized and Unrealized Gain/(Loss).
|
|
|
For the three months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
|
|
(In thousands)
|
||||||
Net investment income
|
|
$
|
32,731
|
|
|
$
|
19,817
|
|
Add: GCIC acquisition purchase premium amortization
|
|
11,837
|
|
|
—
|
|
||
Less: Accrual (reversal) for capital gain incentive fee
|
|
—
|
|
|
(478
|
)
|
||
Adjusted net investment income
|
|
$
|
44,568
|
|
|
$
|
19,339
|
|
|
|
|
|
|
||||
Net gain (loss) on investment transactions
|
|
$
|
14,317
|
|
|
$
|
(1,378
|
)
|
Add: Net change in unrealized depreciation on investment transactions due to purchase premium
|
|
(11,877
|
)
|
|
—
|
|
||
Adjusted net realized and unrealized gain (loss)
|
|
$
|
2,440
|
|
|
$
|
(1,378
|
)
|
|
|
|
|
|
||||
Net increase (decrease) in net assets resulting from operations
|
|
$
|
47,048
|
|
|
$
|
18,439
|
|
Add: GCIC acquisition purchase premium amortization
|
|
11,837
|
|
|
—
|
|
||
Less: Accrual (reversal) for capital gain incentive fee
|
|
—
|
|
|
(478
|
)
|
||
Add: Net change in unrealized depreciation on investment transactions due to purchase premium
|
|
(11,877
|
)
|
|
—
|
|
||
Add: Realized loss of the purchase premium on sale of investments
|
|
40
|
|
|
—
|
|
||
Adjusted net income
|
|
$
|
47,048
|
|
|
$
|
17,961
|
|
|
For the three months ended December 31,
|
|
Variance
|
||||||||
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
(In thousands)
|
||||||||||
Interest and other debt financing expenses
|
$
|
21,707
|
|
|
$
|
9,115
|
|
|
$
|
12,592
|
|
Amortization of debt issuance costs
|
571
|
|
|
669
|
|
|
(98
|
)
|
|||
Base management fee
|
15,206
|
|
|
6,439
|
|
|
8,767
|
|
|||
Income incentive fee
|
5,904
|
|
|
2,461
|
|
|
3,443
|
|
|||
Capital gain incentive fee
|
—
|
|
|
(478
|
)
|
|
478
|
|
|||
Professional fees
|
939
|
|
|
588
|
|
|
351
|
|
|||
Administrative service fee
|
1,402
|
|
|
699
|
|
|
703
|
|
|||
General and administrative expenses
|
147
|
|
|
101
|
|
|
46
|
|
|||
Total expenses
|
$
|
45,876
|
|
|
$
|
19,594
|
|
|
$
|
26,282
|
|
Average debt outstanding
|
$
|
2,284,590
|
|
|
$
|
911,608
|
|
|
$
|
1,372,982
|
|
|
For the three months ended December 31,
|
|
Variance
|
||||||||
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
(In thousands)
|
|
|
||||||||
Net realized gain (loss) on investments
|
$
|
2,656
|
|
|
$
|
(1,948
|
)
|
|
$
|
4,604
|
|
Foreign currency transactions
|
(155
|
)
|
|
(30
|
)
|
|
(125
|
)
|
|||
Net realized gain (loss) on investment transactions
|
$
|
2,501
|
|
|
$
|
(1,978
|
)
|
|
$
|
4,479
|
|
Unrealized appreciation on investments
|
38,067
|
|
|
16,124
|
|
|
21,943
|
|
|||
Unrealized (depreciation) on investments
|
(21,659
|
)
|
|
(15,781
|
)
|
|
(5,878
|
)
|
|||
Unrealized appreciation (depreciation) on investments in SLF and GCIC SLF(1)
|
(192
|
)
|
|
106
|
|
|
(298
|
)
|
|||
Unrealized appreciation (depreciation) on translation of assets and liabilities in foreign currencies
|
(3,150
|
)
|
|
151
|
|
|
(3,301
|
)
|
|||
Unrealized appreciation (depreciation) on forward currency contracts
|
(1,250
|
)
|
|
—
|
|
|
(1,250
|
)
|
|||
Net change in unrealized appreciation (depreciation) on investment transactions
|
$
|
11,816
|
|
|
$
|
600
|
|
|
$
|
11,216
|
|
|
(1)
|
Unrealized appreciation (depreciation) on investments in SLF and GCIC SLF includes our investments in LLC equity interests in SLF and GCIC SLF. The investment in GCIC SLF was acquired by us in the Merger and was not held during for the three months ended December 31, 2018.
|
|
For the three months ended December 31,
|
||||||||||||
|
2019
|
|
2018
|
||||||||||
|
(In thousands)
|
|
Percentage of
Commitments
|
|
(In thousands)
|
|
Percentage of
Commitments
|
||||||
Senior secured
|
$
|
11,610
|
|
|
4.3
|
%
|
|
$
|
40,956
|
|
|
20.2
|
%
|
One stop
|
257,329
|
|
|
94.9
|
|
|
157,017
|
|
|
77.3
|
|
||
Subordinated debt
|
138
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
||
Equity
|
2,015
|
|
|
0.7
|
|
|
5,098
|
|
|
2.5
|
|
||
Total new investment commitments
|
$
|
271,092
|
|
|
100.0
|
%
|
|
$
|
203,071
|
|
|
100.0
|
%
|
|
As of December 31, 2019(1)
|
|
As of September 30, 2019(2)
|
||||||||||||||||||||
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
|
Principal
|
|
Amortized
Cost
|
|
Fair
Value
|
||||||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||||||||||
Senior secured:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
$
|
541,731
|
|
|
$
|
550,235
|
|
|
$
|
539,135
|
|
|
$
|
586,039
|
|
|
$
|
597,033
|
|
|
$
|
583,483
|
|
Non-accrual(3)
|
16,075
|
|
|
8,741
|
|
|
6,041
|
|
|
15,749
|
|
|
8,573
|
|
|
5,857
|
|
||||||
One stop:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
3,647,340
|
|
|
3,689,602
|
|
|
3,629,703
|
|
|
3,502,213
|
|
|
3,548,330
|
|
|
3,466,310
|
|
||||||
Non-accrual(3)
|
67,321
|
|
|
59,886
|
|
|
47,086
|
|
|
12,053
|
|
|
10,700
|
|
|
7,806
|
|
||||||
Second lien:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
19,781
|
|
|
20,046
|
|
|
19,781
|
|
|
19,473
|
|
|
19,745
|
|
|
19,473
|
|
||||||
Non-accrual(3)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Subordinated debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Performing
|
510
|
|
|
516
|
|
|
510
|
|
|
369
|
|
|
375
|
|
|
369
|
|
||||||
Non-accrual(3)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
LLC equity interests in SLF and GCIC SLF(4)
|
N/A
|
|
|
123,112
|
|
|
119,078
|
|
|
N/A
|
|
|
127,487
|
|
|
123,644
|
|
||||||
Equity
|
N/A
|
|
|
78,800
|
|
|
86,982
|
|
|
N/A
|
|
|
79,527
|
|
|
85,990
|
|
||||||
Total
|
$
|
4,292,758
|
|
|
$
|
4,530,938
|
|
|
$
|
4,448,316
|
|
|
$
|
4,135,896
|
|
|
$
|
4,391,770
|
|
|
$
|
4,292,932
|
|
|
(1)
|
As of December 31, 2019, $229.8 million and $218.5 million of our loans at amortized cost and fair value, respectively, included a feature permitting a portion of the interest due on such loan to be PIK interest.
|
(2)
|
As of September 30, 2019, $218.8 million and $204.6 million of our loans at amortized cost and fair value, respectively, included a feature permitting a portion of the interest due on such loan to be PIK interest.
|
(3)
|
We refer to a loan as non-accrual when we cease recognizing interest income on the loan because we have stopped pursuing repayment of the loan or, in certain circumstances, it is past due 90 days or more on principal and interest or our management has reasonable doubt that principal or interest will be collected. See “— Critical Accounting Policies — Revenue Recognition.”
|
(4)
|
Proceeds from the LLC equity interests invested in SLF and GCIC SLF were utilized by SLF and GCIC SLF to invest in senior secured loans.
|
|
For the three months ended December 31,
|
||
|
2019
|
|
2018
|
Weighted average rate of new investment fundings
|
7.4%
|
|
7.7%
|
Weighted average spread over LIBOR of new floating rate investment fundings
|
5.6%
|
|
5.3%
|
Weighted average fees of new investment fundings
|
1.4%
|
|
1.3%
|
Weighted average rate of sales and payoffs of portfolio investments(1)
|
7.8%
|
|
8.5%
|
|
(1)
|
Excludes exits on investments on non-accrual status.
|
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||
Internal
Performance
Rating
|
|
Investments
at Fair Value
(In thousands)
|
|
Percentage of
Total
Investments
|
|
Investments
at Fair Value
(In thousands)
|
|
Percentage of
Total
Investments
|
||||||
5
|
|
$
|
176,411
|
|
|
4.0
|
%
|
|
$
|
115,318
|
|
|
2.7
|
%
|
4
|
|
3,861,016
|
|
|
86.8
|
|
|
3,787,809
|
|
|
88.2
|
|
||
3
|
|
322,177
|
|
|
7.2
|
|
|
337,358
|
|
|
7.9
|
|
||
2
|
|
88,676
|
|
|
2.0
|
|
|
52,434
|
|
|
1.2
|
|
||
1
|
|
36
|
|
|
0.0*
|
|
|
13
|
|
|
0.0*
|
|
||
Total
|
|
$
|
4,448,316
|
|
|
100.0
|
%
|
|
$
|
4,292,932
|
|
|
100.0
|
%
|
|
*
|
Represents an amount less than 0.1%.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||||
|
Committed
|
|
Funded(1)
|
|
Committed
|
|
Funded(1)
|
||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||
LLC equity commitments
|
$
|
200,000
|
|
|
$
|
80,580
|
|
|
$
|
200,000
|
|
|
$
|
85,580
|
|
Total
|
$
|
200,000
|
|
|
$
|
80,580
|
|
|
$
|
200,000
|
|
|
$
|
85,580
|
|
|
(1)
|
Funded LLC equity commitments are presented net of return of capital distributions subject to recall.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||
|
(Dollars in thousands)
|
||||||
Senior secured loans(1)
|
$
|
119,781
|
|
|
$
|
154,254
|
|
Weighted average current interest rate on senior secured loans(2)
|
7.4
|
%
|
|
7.4
|
%
|
||
Number of borrowers in SLF
|
21
|
|
|
27
|
|
||
Largest portfolio company investment(1)
|
$
|
10,574
|
|
|
$
|
12,654
|
|
Total of five largest portfolio company investments(1)
|
$
|
46,830
|
|
|
$
|
54,268
|
|
|
(1)
|
At principal amount.
|
(2)
|
Computed as the (a) annual stated interest rate on accruing senior secured loans divided by (b) total senior secured loans at principal amount.
|
SLF Investment Portfolio as of December 31, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($) /
Shares(2)
|
|
Fair
Value(3)
|
||||
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
|
|
|||||
1A Smart Start LLC(4)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
%
|
$
|
2,954
|
|
|
$
|
2,953
|
|
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
6.9
|
|
6,172
|
|
|
3,703
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
10.4
|
|
2,139
|
|
|
4
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
6.9
|
|
422
|
|
|
253
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
04/2020
|
|
6.9
|
|
308
|
|
|
108
|
|
||
Boot Barn, Inc.(4)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.5
|
|
6,022
|
|
|
6,022
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.7
|
|
4,418
|
|
|
4,415
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.4
|
|
2,427
|
|
|
2,427
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
22
|
|
|
22
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
5.8
|
|
4,761
|
|
|
4,761
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
5,889
|
|
|
5,889
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
1,636
|
|
|
1,636
|
|
||
Flexan, LLC(4)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.3
|
|
178
|
|
|
178
|
|
||
Gamma Technologies, LLC(4)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
6.8
|
|
10,058
|
|
|
10,058
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
9.8
|
|
4,288
|
|
|
4,288
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
2,271
|
|
|
2,271
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
118
|
|
|
118
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
63
|
|
|
63
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
7.9
|
|
1,338
|
|
|
1,310
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
7.9
|
|
1,286
|
|
|
1,260
|
|
||
Paradigm DKD Group, LLC(4)(5)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.2
|
|
1,480
|
|
|
958
|
|
||
Paradigm DKD Group, LLC(4)(5)(7)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.2
|
|
(16
|
)
|
|
(78
|
)
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(4)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
5.8
|
|
5,251
|
|
|
5,251
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
4,454
|
|
|
4,320
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
61
|
|
|
59
|
|
||
Polk Acquisition Corp.
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
52
|
|
|
51
|
|
||
Pyramid Healthcare, Inc.(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
10,021
|
|
|
10,021
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.5
|
|
308
|
|
|
308
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
146
|
|
|
146
|
|
||
Pyramid Healthcare, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
99
|
|
|
99
|
|
||
Rubio's Restaurants, Inc (4)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
04/2021
|
|
9.46% cash/4.00% PIK
|
|
4,907
|
|
|
4,953
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.35% cash/1.00% PIK
|
|
4,333
|
|
|
3,899
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
70
|
|
|
63
|
|
||
Sage Dental Management, LLC
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
8.4
|
|
63
|
|
|
57
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of December 31, 2019. All interest rates are payable in cash, except where PIK is shown.
|
(2)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(3)
|
Represents the fair value in accordance with ASC Topic 820 - Fair Value Measurements, or ASC Topic 820. The determination of such fair value is not included in our board of directors' valuation process described elsewhere herein.
|
(4)
|
We also hold a portion of the first lien senior secured loan in this portfolio company.
|
(5)
|
Loan was on non-accrual status as of December 31, 2019. As such, no interest is being earned on this investment.
|
(6)
|
The entire commitment was unfunded as of December 31, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
|
(8)
|
Equity investment received as a result of the portfolio company's debt restructuring.
|
(9)
|
Non-income producing.
|
SLF Investment Portfolio as of September 30, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($) /
Shares(2)
|
|
Fair
Value(3)
|
||||
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
|
||||||
1A Smart Start LLC(4)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.5
|
%
|
$
|
2,961
|
|
|
$
|
2,961
|
|
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
7.1
|
|
6,172
|
|
|
3,703
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
7.1
|
|
422
|
|
|
253
|
|
||
Advanced Pain Management Holdings, Inc.(4)(5)(7)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
7.1
|
|
193
|
|
|
(8
|
)
|
||
Advanced Pain Management Holdings, Inc.(4)(5)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2019
|
|
10.6
|
|
2,139
|
|
|
4
|
|
||
Boot Barn, Inc.(4)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.6
|
|
6,022
|
|
|
6,022
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.9
|
|
4,418
|
|
|
4,415
|
|
||
Brandmuscle, Inc.
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.5
|
|
2,433
|
|
|
2,433
|
|
||
Captain D's, LLC(4)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
17
|
|
|
17
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
8,415
|
|
|
8,415
|
|
||
CLP Healthcare Services, Inc.
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
4,239
|
|
|
4,239
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
2,392
|
|
|
2,392
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
1,203
|
|
|
1,203
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
58
|
|
|
58
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
40
|
|
|
40
|
|
||
Community Veterinary Partners, LLC
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
4,773
|
|
|
4,773
|
|
||
DISA Holdings Acquisition Subsidiary Corp.(4)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
06/2022
|
|
6.0
|
|
53
|
|
|
53
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
5,905
|
|
|
5,905
|
|
||
Flexan, LLC
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
1,640
|
|
|
1,640
|
|
||
Flexan, LLC(4)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.5
|
|
431
|
|
|
431
|
|
||
Gamma Technologies, LLC(4)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
7.3
|
|
10,084
|
|
|
10,084
|
|
||
III US Holdings, LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
8.1
|
|
4,288
|
|
|
4,288
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
2,276
|
|
|
2,276
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
118
|
|
|
118
|
|
||
Jensen Hughes, Inc.
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
63
|
|
|
63
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
8.2
|
|
1,286
|
|
|
1,286
|
|
||
Joerns Healthcare, LLC(4)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2024
|
|
8.2
|
|
1,338
|
|
|
1,338
|
|
||
Mediaocean LLC
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
08/2020
|
|
N/A(6)
|
|
—
|
|
|
—
|
|
||
Paradigm DKD Group, LLC(4)(5)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.4
|
|
1,480
|
|
|
1,094
|
|
||
Paradigm DKD Group, LLC(4)(5)(7)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
05/2022
|
|
8.4
|
|
(16
|
)
|
|
(59
|
)
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(4)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
6.0
|
|
5,264
|
|
|
5,264
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
4,465
|
|
|
4,376
|
|
||
Polk Acquisition Corp.(4)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
60
|
|
|
58
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of September 30, 2019. All interest rates are payable in cash, except where PIK is shown.
|
(2)
|
The total principal amount is presented for debt investments while the number of shares or units owned is presented for equity investments.
|
(3)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in our board of directors' valuation process described elsewhere herein.
|
(4)
|
We also hold a portion of the senior secured loan in this portfolio company.
|
(5)
|
Loan was on non-accrual status as of September 30, 2019. As such, no interest is being earned on this investment.
|
(6)
|
The entire commitment was unfunded as of September 30, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(7)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
|
(8)
|
Equity investment received as a result of the portfolio company's debt restructuring.
|
(9)
|
Non-income producing.
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||
|
(In thousands)
|
||||||
Selected Balance Sheet Information, at fair value
|
|
|
|
|
|
||
Investments, at fair value
|
$
|
116,309
|
|
|
$
|
152,259
|
|
Cash and other assets
|
16,889
|
|
|
8,759
|
|
||
Total assets
|
$
|
133,198
|
|
|
$
|
161,018
|
|
Senior credit facility
|
$
|
52,252
|
|
|
$
|
75,581
|
|
Other liabilities
|
416
|
|
|
424
|
|
||
Total liabilities
|
52,668
|
|
|
76,005
|
|
||
Members’ equity
|
80,530
|
|
|
85,013
|
|
||
Total liabilities and members' equity
|
$
|
133,198
|
|
|
$
|
161,018
|
|
|
Three months ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
|
(In thousands)
|
||||||
Selected Statement of Operations Information:
|
|
|
|
||||
Interest income
|
$
|
2,800
|
|
|
$
|
3,636
|
|
Fee income
|
—
|
|
|
9
|
|
||
Total investment income
|
2,800
|
|
|
3,645
|
|
||
Interest and other debt financing expenses
|
634
|
|
|
1,187
|
|
||
Administrative service fee
|
61
|
|
|
80
|
|
||
Other expenses
|
(15
|
)
|
|
24
|
|
||
Total expenses
|
680
|
|
|
1,291
|
|
||
Net investment income
|
2,120
|
|
|
2,354
|
|
||
Net realized gains (losses) on investments
|
—
|
|
|
(1,314
|
)
|
||
Net change in unrealized appreciation (depreciation) on investments
|
(1,603
|
)
|
|
(918
|
)
|
||
Net increase (decrease) in members' equity
|
$
|
517
|
|
|
$
|
122
|
|
|
As of December 31, 2019
|
|
As of September 30, 2019
|
||||||||||||
|
Committed
|
|
Funded (1)
|
|
Committed
|
|
Funded (1)
|
||||||||
|
(In thousands)
|
|
(In thousands)
|
||||||||||||
LLC equity commitments
|
$
|
125,000
|
|
|
$
|
55,264
|
|
|
$
|
125,000
|
|
|
$
|
55,264
|
|
Total
|
$
|
125,000
|
|
|
$
|
55,264
|
|
|
$
|
125,000
|
|
|
$
|
55,264
|
|
|
(1)
|
Funded LLC equity commitments are presented net of return of capital distributions subject to recall.
|
|
December 31, 2019
|
September 30, 2019
|
||||
|
(Dollars in thousands)
|
|||||
Senior secured loans (1)
|
$
|
96,073
|
|
$
|
112,864
|
|
Weighted average current interest rate on senior secured loans (2)
|
7.2
|
%
|
7.2
|
%
|
||
Number of borrowers in GCIC SLF
|
22
|
|
28
|
|
||
Largest portfolio company investment (1)
|
$
|
8,442
|
|
$
|
8,464
|
|
Total of five largest portfolio company investments (1)
|
$
|
34,699
|
|
$
|
34,273
|
|
|
(1)
|
At principal amount.
|
(2)
|
Computed as the (a) annual stated interest rate on accruing senior secured loans divided by (b) total senior secured loans at principal amount.
|
GCIC SLF Investment Portfolio as of December 31, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
|
||||||
1A Smart Start LLC(3)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
%
|
1,906
|
|
|
1,905
|
|
||
Boot Barn, Inc.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.5
|
|
3,159
|
|
|
3,159
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.7
|
|
3,800
|
|
|
3,796
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.4
|
|
5,777
|
|
|
5,777
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
41
|
|
|
41
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
2,798
|
|
|
2,659
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
1,126
|
|
|
1,069
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
579
|
|
|
550
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
197
|
|
|
187
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
88
|
|
|
84
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.2
|
|
84
|
|
|
80
|
|
||
Elite Sportswear, L.P.(3)(5)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
(19
|
)
|
||
Elite Sportswear, L.P.(3)(5)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
(1
|
)
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
2,628
|
|
|
2,628
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.6
|
|
730
|
|
|
730
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.3
|
|
79
|
|
|
79
|
|
||
G & H Wire Company, Inc(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2023
|
|
7.6
|
|
5,271
|
|
|
5,271
|
|
||
Gamma Technologies, LLC(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
6.8
|
|
4,323
|
|
|
4,323
|
|
||
III US Holdings, LLC(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
9.8
|
|
4,253
|
|
|
4,253
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
1,953
|
|
|
1,953
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
102
|
|
|
102
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.3
|
|
54
|
|
|
54
|
|
||
Mills Fleet Farm Group LLC(3)
|
|
Retail Stores
|
|
Senior loan
|
|
10/2024
|
|
8.29% cash/0.75% PIK
|
|
5,953
|
|
|
5,477
|
|
||
NBC Intermediate, LLC (3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
6.5
|
|
2,565
|
|
|
2,565
|
|
||
NBC Intermediate, LLC (3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
5.8
|
|
4,901
|
|
|
4,901
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
8,103
|
|
|
7,860
|
|
||
1A Smart Start LLC(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
61
|
|
|
59
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.1
|
|
52
|
|
|
51
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
2,419
|
|
|
2,419
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
366
|
|
|
366
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.4
|
|
146
|
|
|
146
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.5
|
|
82
|
|
|
82
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
5,894
|
|
|
5,894
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
1,149
|
|
|
1,149
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
619
|
|
|
619
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
536
|
|
|
536
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.1
|
|
244
|
|
|
244
|
|
||
Rubio's Restaurants, Inc(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
04/2021
|
|
9.46% cash/4.00% PIK
|
|
1,647
|
|
|
1,663
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
6.1
|
|
5,445
|
|
|
5,445
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
8.0
|
|
241
|
|
|
241
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
5,880
|
|
|
5,704
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.7
|
|
290
|
|
|
288
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of December 31, 2019. All interest rates are payable in cash except where PIK is shown.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board's valuation process described elsewhere herein.
|
(3)
|
The Company also holds a portion of the first lien senior secured loan in this portfolio company.
|
(4)
|
The entire commitment was unfunded as of December 31, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
(5)
|
The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
|
GCIC SLF Investment Portfolio as of September 30, 2019
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
|
|
|||||
1A Smart Start LLC(3)
|
|
Home and Office Furnishings, Housewares, and Durable Consumer
|
|
Senior loan
|
|
02/2022
|
|
6.5
|
%
|
$
|
1,910
|
|
|
$
|
1,910
|
|
Boot Barn, Inc.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
06/2023
|
|
6.6
|
|
3,159
|
|
|
3,159
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Brandmuscle, Inc.(3)
|
|
Printing and Publishing
|
|
Senior loan
|
|
12/2021
|
|
6.9
|
|
3,800
|
|
|
3,797
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
7.5
|
|
33
|
|
|
33
|
|
||
Captain D's, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
12/2023
|
|
6.5
|
|
5,792
|
|
|
5,792
|
|
||
CLP Healthcare Services, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
2,007
|
|
|
2,007
|
|
||
CLP Healthcare Services, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
12/2020
|
|
7.4
|
|
1,011
|
|
|
1,011
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
2,053
|
|
|
2,053
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
1,032
|
|
|
1,032
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
40
|
|
|
40
|
|
||
Community Veterinary Partners, LLC(3)
|
|
Personal, Food and Miscellaneous Services
|
|
Senior loan
|
|
10/2021
|
|
7.5
|
|
58
|
|
|
58
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.5
|
|
121
|
|
|
99
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
1,128
|
|
|
1,061
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
581
|
|
|
546
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
88
|
|
|
83
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
2,806
|
|
|
2,638
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.5
|
|
7
|
|
|
6
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
84
|
|
|
79
|
|
||
Elite Sportswear, L.P.(3)
|
|
Retail Stores
|
|
Senior loan
|
|
12/2021
|
|
8.4
|
|
198
|
|
|
186
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
9.5
|
|
192
|
|
|
192
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
2,635
|
|
|
2,635
|
|
||
Flexan, LLC(3)
|
|
Chemicals, Plastics and Rubber
|
|
Senior loan
|
|
02/2020
|
|
7.9
|
|
732
|
|
|
732
|
|
||
G & H Wire Company, Inc(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
09/2023
|
|
7.8
|
|
5,284
|
|
|
5,284
|
|
||
Gamma Technologies, LLC(3)
|
|
Electronics
|
|
Senior loan
|
|
06/2024
|
|
7.3
|
|
4,334
|
|
|
4,334
|
|
||
III US Holdings, LLC(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
09/2022
|
|
8.1
|
|
4,253
|
|
|
4,253
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
1,958
|
|
|
1,958
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
102
|
|
|
102
|
|
||
Jensen Hughes, Inc.(3)
|
|
Buildings and Real Estate
|
|
Senior loan
|
|
03/2024
|
|
6.6
|
|
54
|
|
|
54
|
|
||
Mediaocean LLC(3)
|
|
Diversified/Conglomerate Service
|
|
Senior loan
|
|
08/2020
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Mills Fleet Farm Group LLC(3)
|
|
Retail Stores
|
|
Senior loan
|
|
10/2024
|
|
8.3
|
|
5,955
|
|
|
5,657
|
|
||
NBC Intermediate, LLC(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
NBC Intermediate, LLC(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
09/2023
|
|
6.5
|
|
2,565
|
|
|
2,565
|
|
||
Pasternack Enterprises, Inc. and Fairview Microwave, Inc(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2025
|
|
6.0
|
|
4,913
|
|
|
4,913
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
8,125
|
|
|
7,962
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
60
|
|
|
58
|
|
||
Polk Acquisition Corp.(3)
|
|
Automobile
|
|
Senior loan
|
|
06/2022
|
|
7.3
|
|
52
|
|
|
51
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
9.2
|
|
68
|
|
|
68
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
2,426
|
|
|
2,426
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
147
|
|
|
147
|
|
||
Pyramid Healthcare, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2020
|
|
8.8
|
|
367
|
|
|
367
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
5,909
|
|
|
5,909
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
621
|
|
|
621
|
|
||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
1,152
|
|
|
1,152
|
|
GCIC SLF Investment Portfolio as of September 30, 2019 - (continued)
|
||||||||||||||||
Portfolio Company
|
|
Business Description
|
|
Security Type
|
|
Maturity
Date
|
|
Current
Interest
Rate(1)
|
|
Principal ($)
|
|
Fair
Value(2)
|
||||
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
|
|
|||||
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
%
|
$
|
537
|
|
|
$
|
537
|
|
Reladyne, Inc.(3)
|
|
Diversified/Conglomerate Manufacturing
|
|
Senior loan
|
|
07/2022
|
|
7.3
|
|
245
|
|
|
245
|
|
||
RSC Acquisition, Inc.(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2021
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
RSC Acquisition, Inc.(3)
|
|
Insurance
|
|
Senior loan
|
|
11/2022
|
|
6.4
|
|
3,255
|
|
|
3,255
|
|
||
Rubio's Restaurants, Inc(3)
|
|
Beverage, Food and Tobacco
|
|
Senior loan
|
|
10/2019
|
|
9.1
|
|
1,641
|
|
|
1,641
|
|
||
SEI, Inc.(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
6.8
|
|
4,154
|
|
|
4,154
|
|
||
SEI, Inc.(3)
|
|
Electronics
|
|
Senior loan
|
|
07/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
6.3
|
|
5,445
|
|
|
5,445
|
|
||
Self Esteem Brands, LLC(3)
|
|
Leisure, Amusement, Motion Pictures, Entertainment
|
|
Senior loan
|
|
02/2022
|
|
8.3
|
|
498
|
|
|
498
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.9
|
|
100
|
|
|
94
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.9
|
|
5,895
|
|
|
5,600
|
|
||
Summit Behavioral Healthcare, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
10/2023
|
|
6.9
|
|
290
|
|
|
276
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
1,009
|
|
|
908
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
137
|
|
|
123
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
51
|
|
|
46
|
|
||
Teasdale Quality Foods, Inc.(3)
|
|
Grocery
|
|
Senior loan
|
|
10/2020
|
|
7.9
|
|
791
|
|
|
712
|
|
||
Upstream Intermediate, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
01/2024
|
|
6.0
|
|
3,532
|
|
|
3,532
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
8.1
|
|
2,158
|
|
|
2,158
|
|
||
WHCG Management, LLC(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
03/2023
|
|
N/A(4)
|
|
—
|
|
|
—
|
|
||
WIRB-Copernicus Group, Inc.(3)
|
|
Healthcare, Education and Childcare
|
|
Senior loan
|
|
08/2022
|
|
6.4
|
|
5,314
|
|
|
5,314
|
|
||
Total investments
|
|
|
|
|
|
|
|
|
|
$
|
112,864
|
|
|
$
|
111,568
|
|
|
(1)
|
Represents the weighted average annual current interest rate as of September 30, 2019. All interest rates are payable in cash.
|
(2)
|
Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in our board of directors' valuation process described elsewhere herein.
|
(3)
|
We also hold a portion of the first lien senior secured loan in this portfolio company.
|
(4)
|
The entire commitment was unfunded as of September 30, 2019. As such, no interest is being earned on this investment. The investment may be subject to an unused facility fee.
|
|
As of December 31, 2019
|
As of September 30, 2019
|
||||
|
(In thousands)
|
|||||
Selected Balance Sheet Information:
|
|
|
|
|||
Investments, at fair value
|
$
|
94,759
|
|
$
|
111,568
|
|
Cash and other assets
|
5,545
|
|
4,627
|
|
||
Total assets
|
$
|
100,304
|
|
$
|
116,195
|
|
Senior credit facility
|
$
|
44,416
|
|
$
|
59,559
|
|
Other liabilities
|
329
|
|
341
|
|
||
Total liabilities
|
44,745
|
|
59,900
|
|
||
Members’ equity
|
55,559
|
|
56,295
|
|
||
Total liabilities and members' equity
|
$
|
100,304
|
|
$
|
116,195
|
|
|
For the three months ended December 31, 2019
|
||
|
(In thousands)
|
||
Selected Statement of Operations Information:
|
|
|
|
Interest income
|
$
|
2,081
|
|
Total investment income
|
2,081
|
|
|
Interest and other debt financing expense
|
512
|
|
|
Administrative service fee
|
45
|
|
|
Other expenses
|
(24
|
)
|
|
Total expenses
|
533
|
|
|
Net investment income
|
1,548
|
|
|
Net change in unrealized appreciation (depreciation) on investments
|
(108
|
)
|
|
Net increase in members' equity
|
$
|
1,440
|
|
|
Payments Due by Period (In thousands)
|
|||||||||||||
|
Total
|
|
Less Than
1 Year
|
|
1 – 3 Years
|
|
3 – 5 Years
|
|
More Than
5 Years
|
|||||
2014 Debt Securitization
|
119,788
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
119,788
|
|
2018 Debt Securitization
|
408,200
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
408,200
|
|
2018 GCIC Debt Securitization
|
541,145
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
541,145
|
|
SBA debentures
|
305,000
|
|
|
—
|
|
|
78,500
|
|
|
60,250
|
|
|
166,250
|
|
WF Credit Facility
|
273,995
|
|
|
—
|
|
|
—
|
|
|
273,995
|
|
|
—
|
|
MS Credit Facility II
|
385,199
|
|
|
—
|
|
|
—
|
|
|
385,199
|
|
|
—
|
|
DB Credit Facility
|
231,496
|
|
|
—
|
|
|
—
|
|
|
231,496
|
|
|
—
|
|
Other short-term borrowings
|
65,833
|
|
|
65,833
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Unfunded commitments(1)
|
216,432
|
|
|
216,432
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total contractual obligations
|
2,547,088
|
|
|
282,265
|
|
|
78,500
|
|
|
950,940
|
|
|
1,235,383
|
|
|
(1)
|
Unfunded commitments represent unfunded commitments to fund investments, excluding our investments in SLF and GCIC SLF, as of December 31, 2019. These amounts may or may not be funded to the borrowing party now or in the future. The unfunded commitments
|
•
|
We entered into the Investment Advisory Agreement with GC Advisors. Mr. Lawrence Golub, our chairman, is a manager of GC Advisors, and Mr. David Golub, our chief executive officer, is a manager of GC Advisors, and each of Messrs. Lawrence Golub and David Golub owns an indirect pecuniary interest in GC Advisors.
|
•
|
Golub Capital LLC provides, and other affiliates of Golub Capital have historically provided, us with the office facilities and administrative services necessary to conduct day-to-day operations pursuant to our Administration Agreement.
|
•
|
We have entered into a license agreement with Golub Capital LLC, pursuant to which Golub Capital LLC has granted us a non-exclusive, royalty-free license to use the name “Golub Capital.”
|
•
|
Under a staffing agreement, or the Staffing Agreement, Golub Capital LLC has agreed to provide GC Advisors with the resources necessary to fulfill its obligations under the Investment Advisory Agreement. The Staffing Agreement provides that Golub Capital LLC will make available to GC Advisors experienced investment professionals and provide access to the senior investment personnel of Golub Capital LLC for purposes of evaluating, negotiating, structuring, closing and monitoring our investments. The Staffing Agreement also includes a commitment that the members of GC Advisors’ investment committee will serve in such capacity. Services under the Staffing Agreement are provided on a direct cost reimbursement basis. We are not a party to the Staffing Agreement.
|
•
|
GC Advisors serves as collateral manager to the 2014 Issuer, the 2018 Issuer, and the GCIC 2018 Issuer under the 2014 Collateral Management Agreement, the 2018 Collateral Management Agreement, and the GCIC 2018 Collateral Management Agreement, respectively. Fees payable to GC Advisors for providing these services offset against the base management fee payable by us under the Investment Advisory Agreement.
|
•
|
We have entered into the Adviser Revolver with GC Advisors in order to have the ability to borrow funds on a short-term basis.
|
•
|
During the calendar year 2019 and 2018, the Golub Capital Employee Grant Program Rabbi Trust, or the Trust, purchased approximately $47.4 million, or 2,609,558 shares, and $7.2 million, or 396,099 shares, of our common stock, respectively, for the purpose of awarding incentive compensation to employees of Golub Capital.
|
•
|
On September 16, 2019, we completed our acquisition of GCIC pursuant to the Merger Agreement.
|
Change in interest rates
|
|
Increase (decrease) in
interest income
|
|
Increase (decrease) in
interest expense
|
|
Net increase
(decrease) in
investment income
|
||||||
|
|
(In thousands)
|
||||||||||
Down 25 basis points
|
|
$
|
(10,407
|
)
|
|
$
|
(4,803
|
)
|
|
$
|
(5,604
|
)
|
Up 50 basis points
|
|
20,812
|
|
|
9,607
|
|
|
11,205
|
|
|||
Up 100 basis points
|
|
41,626
|
|
|
19,213
|
|
|
22,413
|
|
|||
Up 150 basis points
|
|
62,438
|
|
|
28,820
|
|
|
33,618
|
|
|||
Up 200 basis points
|
|
83,251
|
|
|
38,426
|
|
|
44,825
|
|
|
|
|
|
Number
|
|
Description
|
|
|
|
|
|
|
Purchase Agreement, dated as of January 1, 2020, by and among RGA Reinsurance Company, Aurora National Life Assurance Company, Golub Capital BDC, Inc., Senior Loan Fund LLC and GCIC Senior Loan Fund LLC (Incorporated by reference to Exhibit 10.1 to the Registrant's Form 8-K (File No. 814-00794), filed January 6, 2020.)
|
|
|
|
Statement of Eligibility of Trustee on From T-1.*
|
|
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended.*
|
|
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended.*
|
|
|
|
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
|
|
|
|
Consent of Ernst & Young LLP.*
|
|
|
Golub Capital BDC, Inc.
|
|
|
|
|
Dated: February 7, 2020
|
By
|
/s/ David B. Golub
|
|
|
David B. Golub
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
Dated: February 7, 2020
|
By
|
/s/ Ross A. Teune
|
|
|
Ross A. Teune
|
|
|
Chief Financial Officer
|
|
|
(Principal Accounting and Financial Officer)
|
800 Nicollet Mall
Minneapolis, Minnesota
|
55402
|
(Address of principal executive offices)
|
(Zip Code)
|
Delaware
|
27-2326940
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
|
|
200 Park Avenue, 25th Floor
New York, NY
|
10166
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
a)
|
Name and address of each examining or supervising authority to which it is subject.
|
Items 3-15
|
Items 3-15 are not applicable because to the best of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.
|
Assets
|
9/30/2019
|
||
Cash and Balances Due From Depository Institutions
|
$
|
15,112,079
|
|
Securities
|
119,318,592
|
|
|
Federal Funds
|
3,649,142
|
|
|
Loans & Lease Financing Receivables
|
295,082,725
|
|
|
Fixed Assets
|
6,645,121
|
|
|
Intangible Assets
|
12,676,922
|
|
|
Other Assets
|
24,909,024
|
|
|
Total Assets
|
$
|
477,393,605
|
|
|
|
||
Liabilities
|
|
||
Deposits
|
$
|
372,420,581
|
|
Fed Funds
|
1,053,008
|
|
|
Treasury Demand Notes
|
0
|
|
|
Trading Liabilities
|
991,966
|
|
|
Other Borrowed Money
|
33,643,638
|
|
|
Acceptances
|
0
|
|
|
Subordinated Notes and Debentures
|
3,850,000
|
|
|
Other Liabilities
|
15,002,550
|
|
|
Total Liabilities
|
$
|
426,961,743
|
|
|
|
||
Equity
|
|
||
Common and Preferred Stock
|
18,200
|
|
|
Surplus
|
14,266,915
|
|
|
Undividend Profits
|
35,346,037
|
|
|
Minority Interest in Subsidiaries
|
800,710
|
|
|
Total Equity Capital
|
$
|
50,431,862
|
|
|
|
||
Total Liabilities and Equity Capital
|
$
|
477,393,605
|
|
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange
Act of 1934; and
|
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Company.
|
Date: February 7, 2020
|
/s/ David B. Golub
|
|
David B. Golub
Chief Executive Officer
|
|
|
|
/s/ Ross A. Teune
|
|
Ross A. Teune
Chief Financial Officer
|