ncdlc-20230630

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on our current expectations and estimates, our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

Although we believe that the assumptions on which these forward-looking statements are based on are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. Important assumptions include our ability to originate new loans and investments, certain margins and levels of profitability and the availability of additional capital. In light of these and other uncertainties, the inclusion of forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These forward-looking statements apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements except as otherwise provided by law.


	June 30, 2023		December 31, 2022
	(Unaudited)
Assets
Investments
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $1,391,333 and $1,225,573, respectively)	$	1,350,757	$	1,200,376
Cash and cash equivalents	45,448		39,270
Restricted cash	50		50
Due from adviser expense support (See Note 4)	865		1,147

Interest receivable	13,076		11,898
Receivable for investments sold	766		719
Contribution receivable	3		458
Prepaid expenses	100		41

Total assets	$	1,411,065	$	1,253,959

Liabilities
Secured borrowings (net of $6,897 and $5,675 deferred financing costs, respectively) (See Note 5)	$	818,550	$	699,772
Payable for investments purchased	—		56
Interest payable	11,321		8,812
Due to adviser expense support (See Note 4)	1,101		1,147

Management fees payable	2,474		2,211
Distributions payable	17,105		14,325
Directors’ fees payable	96		96
Accounts payable and accrued expenses	2,921		2,583
Total liabilities	$	853,568	$	729,002

Commitments and contingencies (See Note 6)

Net Assets: (See Note 7)

Common shares, $0.01 par value, 500,000,000 and 500,000,000 shares authorized, 31,099,618 and 28,650,548 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively	$	311	$	287
Paid-in-capital in excess of par value	593,043		548,600
Total distributable earnings (loss)	(35,857)		(23,930)
Total net assets	$	557,497	$	524,957

Total liabilities and net assets	$	1,411,065	$	1,253,959

Net asset value per share (See Note 8)	$	17.93	$	18.32


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Investment income:
Non-controlled/non-affiliated company investments:
Interest income	$	36,292	$	15,883	$	69,679	$	29,667
Payment-in-kind interest income	551		186		872		328
Dividend income	24		—		40		—
Other income	234		392		470		605
Total investment income	$	37,101	$	16,461	71,061		30,600

Expenses:
Interest and debt financing expenses	$	14,298	$	4,237	27,041		7,258
Management fees (See Note 4)	2,475		1,732		4,781		3,252
Professional fees	964		264		1,554		445

Directors' fees	95		95		191		191
Administration fees (See Note 4)	350		189		659		405
Other general and administrative expenses	733		254		1,290		313
Total expenses before expense support	18,915		6,771		35,516		11,864
Expense support (See Note 4)	(144)		(43)		(158)		(94)
Net expenses after expense support	18,771		6,728		35,358		11,770


Net investment income	18,330		9,733		35,703		18,830

Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	218		56		6,699		92
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments	(4,242)		(12,509)		(15,379)		(14,891)
Total net realized and unrealized gain (loss) on investments	(4,024)		(12,453)		(8,680)		(14,799)

Net increase (decrease) in net assets resulting from operations	$	14,306	$	(2,720)	$	27,023	$	4,031

Per share data:
Net investment income per share - basic and diluted	$	0.60	$	0.44	$	1.20	$	0.88
Net increase (decrease) in net assets resulting from operations per share - basic and diluted	$	0.47	$	(0.12)	$	0.91	$	0.19
Weighted average common shares outstanding - basic and diluted	30,621,009		22,212,400		29,679,378		21,366,638


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Increase (decrease) in net assets resulting from operations:
Net investment income	$	18,330	$	9,733	$	35,703	$	18,830
Net realized gain (loss) on investments	218		56		6,699		92
Net change in unrealized appreciation (depreciation) on investments	(4,242)		(12,509)		(15,379)		(14,891)
Net increase (decrease) in net assets resulting from operations	14,306		(2,720)		27,023		4,031
Shareholder distributions:
Distributions declared from net investment income	(17,106)		(9,757)		(32,915)		(18,309)
Distributions declared from realized gains	—		—		(6,036)		—
Net increase (decrease) in net assets resulting from shareholder distributions	(17,106)		(9,757)		(38,951)		(18,309)
Capital share transactions:
Issuance of common shares, net	39,977		34,946		39,977		64,930
Reinvestment of shareholder distributions, net	2,776		627		4,491		1,070

Net increase (decrease) in net assets resulting from capital share transactions	42,753		35,573		44,468		66,000
Total increase (decrease) in net assets	39,953		23,096		32,540		51,722
Net assets, at beginning of period	517,544		402,677		524,957		374,051
Net assets, at end of period	$	557,497	$	425,773	$	557,497	$	425,773


	Six Months Ended June 30,
	2023		2022
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	27,023	$	4,031

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	(202,017)		(248,039)
Proceeds from principal repayments and sales of investments	45,361		29,746
Payment-in-kind interest	(872)		(312)
Amortization of premium/accretion of discount, net	(1,533)		(890)
Net realized (gain) loss on investments	(6,699)		(92)
Net change in unrealized (appreciation) depreciation on investments	15,379		14,891
Amortization of deferred financing costs	884		622
Amortization of offering costs	(23)		(34)
Changes in operating assets and liabilities:
Due from adviser expense support	282		(125)
Interest receivable	(1,178)		(5,441)
Receivable for investments sold	(47)		3,354

Prepaid expenses	(59)		(23)

Payable for investments purchased	(56)		(25,744)
Interest payable	2,509		478
Due to adviser expense support	(46)		125

Management fees payable	263		356


Accounts payable and accrued expenses	338		215
Net cash provided by (used in) operating activities	(120,491)		(226,882)

Cash flows from financing activities:

Proceeds from issuance of common shares	40,455		64,964

Shareholder distributions	(31,680)		(15,122)
Proceeds from secured borrowings	179,000		544,600
Repayments of secured borrowings	(59,000)		(367,000)
Payments of deferred financing costs	(2,106)		(2,783)
Net cash provided by (used in) financing activities	126,669		224,659

Net increase (decrease) in Cash and Cash Equivalents and Restricted Cash	6,178		(2,223)
Cash and Cash Equivalents and Restricted Cash, beginning of period	39,320		35,236
Cash and Cash Equivalents and Restricted Cash, end of period	$	45,498	$	33,013

Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$	23,648	$	7,114



Supplemental disclosure of non-cash flow Information:
Reinvestment of shareholder distributions	$	4,491	$	1,070


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Investments
Debt Investments
Aerospace & Defense
AEgis Technologies	(6) (13)	First Lien Term Loan	S + 6.00%	11.27	%	10/31/2025	$	14,732	$	14,656	$	14,349	2.57	%
Arotech	(6) (13)	First Lien Term Loan	S + 6.25%	11.52	%	10/22/2026	9,249		9,166		8,792		1.58	%
Arotech (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 6.25%	11.52	%	10/22/2026	450		448		428		0.08	%
Loc Performance Products	(6) (13)	First Lien Term Loan	S + 5.25%	10.39	%	12/22/2026	6,595		6,534		6,209		1.11	%
Valkyrie	(17)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,822		2,775		2,717		0.49	%
Total Aerospace & Defense									33,579		32,495		5.83	%

Automotive
American Auto Auction Group	(6) (13)	First Lien Term Loan	S + 5.00%	10.27	%	12/30/2027	10,573		10,489		9,761		1.75	%
Classic Collision (Delayed Draw) (Incremental)	(6) (13)	First Lien Term Loan	L + 5.75%	11.51	%	1/14/2026	6,976		6,976		6,778		1.22	%
Classic Collision (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	1/14/2026	7,791		7,738		7,569		1.36	%
Collision Right	(13) (17)	First Lien Term Loan	S + 4.75%	10.02	%	4/14/2028	4,816		4,790		4,727		0.85	%
Collision Right	(17)	Subordinated Debt	N/A	9.00% (Cash) 3.75% (PIK)		10/14/2028	1,385		1,352		1,344		0.24	%
Collision Right (Delayed Draw)	(17)	First Lien Term Loan	S + 4.75%	10.02	%	4/14/2028	506		503		497		0.09	%
Collision Right (Delayed Draw)	(17)	Subordinated Debt	N/A	9.00% (Cash) 3.75% (PIK)		10/14/2028	978		966		949		0.17	%
Covercraft	(17)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/21/2028	7,450		7,338		6,981		1.25	%
Covercraft (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/21/2028	4,386		—		(276)		(0.05	%)
JEGS Automotive	(6)	First Lien Term Loan	L + 6.00%	11.55	%	12/22/2027	4,009		3,978		3,311		0.59	%
JEGS Automotive (Delayed Draw)	(11) (17)	First Lien Term Loan	L + 6.00%	11.55	%	12/22/2027	930		—		(162)		(0.03	%)
OEP Glass Purchaser	(6) (13)	First Lien Term Loan	S + 5.25%	10.64	%	4/18/2028	14,813		14,693		14,370		2.58	%
Randys Holdings, Inc	(9) (13)	First Lien Term Loan	S + 6.50%	11.77	%	11/1/2028	11,194		10,987		10,988		1.97	%
Randys Holdings, Inc (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 6.50%	11.77	%	11/1/2028	3,750		—		(69)		(0.01	%)
S&S Truck Parts	(6) (13)	First Lien Term Loan	S + 4.75%	10.14	%	3/1/2029	6,893		6,834		6,752		1.21	%
S&S Truck Parts	(13)	First Lien Term Loan	S + 4.75%	9.89	%	3/1/2029	1,165		1,155		1,141		0.20	%
S&S Truck Parts (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 4.75%	10.02	%	3/1/2029	98		—		(2)		—	%
S&S Truck Parts (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 4.75%	9.89	%	3/1/2029	1,732		1,584		1,549		0.28	%
Total Automotive									79,383		76,208		13.67	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Banking, Finance, Insurance, Real Estate
Allied Benefit Systems	(6) (13)	First Lien Term Loan	S + 4.50%	9.77	%	11/18/2026	5,960	5,927	5,889	1.06	%
Bankruptcy Management Solutions Inc	(6)	First Lien Term Loan	S + 4.50%	9.64	%	2/28/2025	3,830	3,849	3,830	0.69	%
Coding Solutions Acquisitions	(6) (9) (13)	First Lien Term Loan	S + 5.50%	10.64	%	5/11/2028	6,464	6,410	6,358	1.14	%
Coding Solutions Acquisitions (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.50%	10.64	%	5/11/2028	1,967	206	173	0.03	%
Long Term Care Group	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.27	%	9/8/2027	6,620	6,570	5,781	1.04	%
Patriot Growth Insurance Service (Delayed Draw) (Incremental)	(9) (11) (17)	First Lien Term Loan	S + 5.75%	11.02	%	10/14/2028	7,185	3,708	3,583	0.64	%
Risk Strategies (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.50%	10.77	%	11/1/2026	3,545	2,061	2,008	0.36	%
Risk Strategies (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 5.50%	10.77	%	11/1/2026	11,399	11,399	11,140	2.00	%
Vensure Employer Services	(6) (13)	First Lien Term Loan	S + 4.75%	10.02	%	3/26/2027	14,731	14,695	14,382	2.58	%
World Insurance Associates	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.02	%	4/1/2026	1,971	1,958	1,916	0.34	%
World Insurance Associates (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 5.75%	11.02	%	4/1/2026	5,005	5,005	4,866	0.87	%
World Insurance Associates (Delayed Draw)	(6) (9) (17)	First Lien Term Loan	S + 5.75%	11.02	%	4/1/2026	7,980	7,980	7,758	1.39	%
Total Banking, Finance, Insurance, Real Estate								69,768	67,684	12.14	%

Beverage, Food & Tobacco
Bardstown PPC Holdings LLC	(17)	Subordinated Debt	S + 7.75%	13.02	%	8/30/2027	9,300	9,142	9,224	1.65	%
Death Wish Coffee	(6) (9) (13)	First Lien Term Loan	S + 4.75%	10.02	%	9/28/2027	9,850	9,778	9,850	1.77	%
Dessert Holdings	(6) (17)	Subordinated Debt	S + 7.25%	12.52	%	6/8/2029	9,000	8,869	7,785	1.40	%
Fresh Edge	(17)	Subordinated Debt	S + 4.50%	9.77% (Cash) 5.13% (PIK)		4/3/2029	3,770	3,685	3,678	0.66	%
Fresh Edge (Incremental)	(17)	Subordinated Debt	S + 4.50%	9.77% (Cash) 5.13% (PIK)		4/3/2029	753	734	734	0.13	%
GA Foods	(16) (17)	First Lien Term Loan	L + 5.50%	10.49% (Cash) 0.50% (PIK)		12/1/2026	14,769	14,684	2,518	0.45	%
Handgards	(6) (13)	First Lien Term Loan	L + 7.00%	12.55	%	10/14/2026	14,588	14,419	14,588	2.62	%
Harvest Hill Beverage Company	(17)	Subordinated Debt	S + 9.00%	14.14	%	2/28/2029	3,640	3,536	3,535	0.63	%
KSLB Holdings LLC	(13)	First Lien Term Loan	L + 4.50%	9.72	%	7/30/2025	2,865	2,848	2,659	0.48	%
Rise Baking	(6) (9) (13)	First Lien Term Loan	S + 6.50%	11.64	%	8/13/2027	14,775	14,617	14,775	2.65	%
Watermill Express, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.25%	10.52	%	4/20/2027	3,273	3,251	3,214	0.58	%
Watermill Express, LLC (Delayed Draw)	(9) (17)	First Lien Term Loan	L + 5.25%	10.80	%	4/20/2027	316	316	310	0.06	%
Total Beverage, Food & Tobacco								85,879	72,870	13.08	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Capital Equipment
Blackbird Purchaser Inc.	(6) (13) (17)	First Lien Term Loan	S + 4.50%	9.64	%	4/8/2026	9,862	9,828	9,709	1.74	%
Crete Mechanical Group	(6) (13)	First Lien Term Loan	S + 5.00%	10.27	%	5/19/2028	4,847	4,807	4,764	0.85	%
Crete Mechanical Group (Delayed Draw)	(6)	First Lien Term Loan	S + 5.00%	10.27	%	5/19/2028	2,860	2,819	2,811	0.50	%
Crete Mechanical Group (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.00%	10.27	%	5/19/2028	7,178	4,452	4,328	0.78	%
EFC Holdings, LLC	(17)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,146	3,058	3,057	0.55	%
Heartland Home Services		First Lien Term Loan	S + 6.00%	11.14	%	12/15/2026	6,500	6,458	6,367	1.14	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	L + 6.00%	11.22	%	12/15/2026	5,636	5,615	5,521	0.99	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.14	%	12/15/2026	2,585	2,585	2,532	0.45	%
Ovation Holdings, Inc.	(13)	First Lien Term Loan	S + 6.25%	11.52	%	2/3/2029	8,076	7,907	7,903	1.42	%
Ovation Holdings, Inc. (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.25%	11.52	%	2/3/2029	1,904	(22)	(41)	(0.01	%)
Precision Surfacing	(17)	Subordinated Debt	N/A 15.00%	15.00	%	6/30/2024	469	469	469	0.08	%
PT Intermediate Holdings III, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.98%	11.24	%	11/1/2028	8,779	8,753	8,556	1.53	%
PT Intermediate Holdings III, LLC (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 5.98%	11.24	%	11/1/2028	1,073	1,064	1,046	0.19	%
Repipe Specialists	(17)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	2,420	2,379	2,288	0.41	%
Repipe Specialists (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	900	209	160	0.03	%
RTH Buyer LLC (dba "Rhino Tool House)	(13) (17)	First Lien Term Loan	S + 6.25%	11.64	%	4/4/2029	8,092	7,936	7,937	1.42	%
RTH Buyer LLC (dba "Rhino Tool House) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.25%	11.64	%	4/4/2029	1,887	(9)	(36)	(0.01	%)
Total Capital Equipment								68,308	67,371	12.06	%

Chemicals, Plastics, & Rubber
Ascensus	(9) (17)	Subordinated Debt	S + 6.50%	11.77	%	8/2/2029	9,000	8,935	8,360	1.50	%
Ascensus Specialties	(6) (9) (13)	First Lien Term Loan	S + 4.35%	9.49	%	6/30/2028	9,781	9,629	9,413	1.69	%
Boulder Scientific Company LLC	(6)	First Lien Term Loan	S + 4.25%	9.52	%	12/29/2025	2,076	2,086	2,056	0.37	%
Chroma Color Corporation (dba "Chroma Color")	(13)	First Lien Term Loan	S + 6.00%	11.27	%	4/21/2029	6,346	6,222	6,223	1.12	%
Chroma Color Corporation (dba "Chroma Color") (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.00%	11.27	%	4/21/2029	1,379	(13)	(27)	—	%
Spartech	(6) (9) (13)	First Lien Term Loan	S + 4.75%	10.02	%	5/8/2028	14,844	14,772	13,509	2.42	%
Total Chemicals, Plastics, & Rubber								41,631	39,534	7.10	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)


Construction & Building
Erie Construction	(6) (13)	First Lien Term Loan	S + 4.75%	10.14	%	7/30/2027	10,427	10,351	10,428	1.87	%
Gannett Fleming	(13)	First Lien Term Loan	S + 6.60%	11.87	%	12/20/2028	9,950	9,768	9,777	1.75	%
MEI Rigging & Crating	(13) (17)	First Lien Term Loan	S + 6.50%	11.64	%	6/29/2029	11,460	11,230	11,230	2.01	%
MEI Rigging & Crating (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.50%	11.64	%	6/29/2029	1,814	(9)	(36)	(0.01	%)
Sciens Building Solutions, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.02	%	12/15/2027	9,362	9,216	8,991	1.61	%
Sciens Building Solutions, LLC (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	S + 5.75%	11.02	%	12/15/2027	4,930	1,590	1,432	0.26	%
Total Construction & Building								42,146	41,822	7.49	%

Consumer Goods: Durable
Halo Buyer Inc	(6) (15)	First Lien Term Loan	S + 4.50%	9.64	%	6/30/2025	5,698	5,664	5,149	0.92	%
Petmate	(6) (9) (13) (15)	First Lien Term Loan	L + 5.50%	11.05	%	9/15/2028	9,850	9,773	6,402	1.15	%
Xpressmyself.com LLC (a/k/a SmartSign)	(13)	First Lien Term Loan	S + 4.75%	10.02	%	9/7/2028	9,925	9,839	9,632	1.73	%
Xpressmyself.com LLC (a/k/a SmartSign)	(6) (17)	First Lien Term Loan	S + 5.75%	11.02	%	9/7/2028	5,050	4,950	4,950	0.89	%
Total Consumer Goods: Durable								30,226	26,133	4.69	%

Consumer Goods: Non-durable
Arcadia Consumer Health	(6) (9) (13)	First Lien Term Loan	S + 4.50%	9.77	%	9/10/2027	12,668	12,576	12,102	2.17	%
Arcadia Consumer Health (Incremental)	(13) (17)	First Lien Term Loan	S + 5.75%	10.89	%	9/10/2027	2,267	2,222	2,238	0.40	%
Badger Sportswear Acquisition Inc	(6)	First Lien Term Loan	L + 4.50%	10.05	%	12/24/2023	3,821	3,809	3,776	0.68	%
Elevation Labs	(13)	First Lien Term Loan	S + 5.25%	10.52	%	6/30/2028	6,823	6,764	6,735	1.21	%
Elevation Labs (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.25%	10.52	%	6/30/2028	3,125	(26)	(40)	(0.01	%)
FoodScience	(6) (13)	First Lien Term Loan	L + 5.00%	10.55	%	3/1/2027	7,784	7,728	6,928	1.24	%
FoodScience	(6) (13)	First Lien Term Loan	L + 5.00%	10.55	%	3/1/2027	6,916	6,865	6,156	1.10	%
Market Performance Group	(6) (13)	First Lien Term Loan	S + 5.50%	10.77	%	12/29/2026	2,518	2,500	2,533	0.45	%
Market Performance Group	(6) (13)	First Lien Term Loan	S + 5.50%	10.77	%	12/29/2026	7,313	7,291	7,356	1.32	%
Protective Industrial Products (“PIP”)	(9) (13) (17)	First Lien Term Loan	S + 5.00%	10.14	%	12/29/2027	4,872	4,679	4,680	0.84	%
Ultima Health Holdings, LLC	(17)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		3/12/2029	1,721	1,691	1,666	0.30	%
Total Consumer Goods: Non-durable								56,099	54,130	9.70	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Containers, Packaging & Glass
B2B Packaging	(6) (13)	First Lien Term Loan	S + 6.75%	11.89	%	10/7/2026	14,771	14,736	14,440	2.59	%
B2B Packaging (Delayed Draw)	(6)	First Lien Term Loan	S + 6.75%	11.89	%	10/7/2026	117	114	114	0.02	%
Five Star Packing	(6) (13)	First Lien Term Loan	S + 4.25%	9.64	%	5/5/2029	7,615	7,515	7,487	1.34	%
Good2Grow	(6) (13)	First Lien Term Loan	S + 4.50%	9.77	%	12/1/2027	9,642	9,569	9,510	1.71	%
Oliver Packaging	(17)	Subordinated Debt	N/A	11.00	%	1/6/2029	2,510	2,468	2,417	0.43	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	L + 5.50%	11.05%		12/17/2025	2,998	2,980	2,924	0.52	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	L + 5.50%	11.05	%	12/17/2025	7,313	7,270	7,133	1.28	%
Specialized Packaging Group (Incremental)	(7) (10) (13)	First Lien Term Loan	L + 6.25%	12.01	%	12/17/2025	4,431	4,365	4,393	0.79	%
Total Containers, Packaging & Glass								49,017	48,418	8.68	%

Environmental Industries
Impact Parent Corporation (d/b/a Impact Environmental Group)	(13) (17)	First Lien Term Loan	S + 6.00%	11.39	%	3/23/2029	6,810	6,676	6,682	1.20	%
Impact Parent Corporation (d/b/a Impact Environmental Group) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.00%	11.39	%	3/23/2029	3,173	(15)	(60)	(0.01	%)
Nutrition 101 Buyer LLC (a/k/a 101, Inc.)	(13)	First Lien Term Loan	S + 5.25%	10.52	%	8/31/2028	6,682	6,625	6,590	1.18	%
The Facilities Group	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	11/30/2027	4,897	4,862	4,716	0.85	%
The Facilities Group (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	L + 5.75%	11.30	%	11/30/2027	4,975	4,518	4,334	0.78	%
Total Environmental Industries								22,666	22,262	4.00	%

Healthcare & Pharmaceuticals
Affinity Hospice	(6) (13) (17)	First Lien Term Loan	S + 4.75%	10.02	%	12/17/2027	7,912	7,851	7,473	1.34	%
Affinity Hospice (Delayed Draw)	(11) (17)	First Lien Term Loan	L + 4.75%	10.30	%	12/17/2027	1,981	—	(110)	(0.02	%)
Anne Arundel	(17)	Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	3,076	3,035	2,809	0.50	%
Anne Arundel	(17)	Subordinated Debt	N/A	11.00	%	4/16/2026	1,866	1,847	1,747	0.31	%
Anne Arundel (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	11.00	%	4/16/2026	2,258	1,882	1,747	0.31	%
Forefront Dermatology	(6) (9) (13) (15)	First Lien Term Loan	S + 4.25%	9.52	%	4/2/2029	5,333	5,239	5,279	0.95	%
Forefront Dermatology (Delayed Draw)	(9) (11) (15) (17)	First Lien Term Loan	S + 4.25%	9.39	%	4/2/2029	999	978	968	0.17	%
Genesee Scientific	(6) (9)	First Lien Term Loan	S + 5.25%	10.64	%	9/30/2027	5,989	5,949	5,776	1.04	%
Genesee Scientific (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	L + 5.25%	10.80	%	9/30/2027	2,023	1,415	1,343	0.24	%
GHR Healthcare	(6) (9)	First Lien Term Loan	S + 4.75%	10.14	%	12/9/2027	6,434	6,387	6,347	1.14	%
GHR Healthcare (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 4.75%	10.14	%	12/9/2027	2,012	2,012	1,985	0.36	%
GHR Healthcare (Incremental)	(9) (13)	First Lien Term Loan	S + 4.75%	10.14	%	12/9/2027	5,008	4,921	4,941	0.89	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Health Management Associates	(13) (17)	First Lien Term Loan	S + 6.50%	11.64	%	3/30/2029	8,492	8,326	8,324	1.49	%
Health Management Associates (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.50%	11.64	%	3/30/2029	1,508	453	453	0.08	%
Heartland Veterinary Partners LLC (Incremental)	(17)	Subordinated Debt	S + 7.50%	12.64	%	12/10/2027	1,900	1,869	1,851	0.33	%
Heartland Veterinary Partners LLC (Incremental) (Delayed Draw)	(11) (17)	Subordinated Debt	S + 7.50%	12.64	%	12/10/2027	9,500	874	630	0.11	%
InfuCare RX	(6) (13)	First Lien Term Loan	S + 4.50%	9.77	%	1/4/2028	9,850	9,775	9,211	1.65	%
MDC Intermediate Holdings II, LLC	(17)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	1,745	1,705	1,703	0.31	%
MDC Intermediate Holdings II, LLC (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	10.00% (Cash), 2.25% (PIK)		2/7/2030	720	(8)	(17)	—	%
Midwest Eye Consultants	(6) (13)	First Lien Term Loan	S + 4.50%	9.89	%	8/20/2027	9,067	9,003	8,672	1.56	%
PromptCare	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.14	%	9/1/2027	8,246	8,146	8,068	1.45	%
PromptCare (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	S + 6.00%	11.14	%	9/1/2027	3,021	1,267	1,219	0.22	%
Quorum Health Resources, LLC	(6) (13)	First Lien Term Loan	S + 5.75%	11.14	%	5/28/2027	7,719	7,663	7,490	1.34	%
Quorum Health Resources, LLC (Delayed Draw) (Incremental)	(11) (17)	First Lien Term Loan	S + 6.25%	11.64	%	5/28/2027	3,264	(8)	(49)	(0.01	%)
Quorum Health Resources, LLC (Incremental)	(13) (17)	First Lien Term Loan	S + 6.25%	11.64	%	5/28/2027	3,264	3,215	3,215	0.58	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(13)	First Lien Term Loan	S + 5.75%	11.14	%	9/19/2028	9,625	9,360	9,628	1.73	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners)	(13)	First Lien Term Loan	S + 5.75%	10.89	%	10/5/2029	7,511	7,443	7,373	1.32	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.75%	10.89	%	10/5/2029	2,450	401	356	0.06	%
SM Wellness Holdings, Inc	(6) (13)	First Lien Term Loan	S + 4.75%	9.89	%	4/17/2028	14,740	14,643	13,941	2.50	%
US Fertility	(17)	Subordinated Debt	N/A	13.75% (PIK)		6/21/2028	11,572	11,236	11,230	2.01	%
Wellspring Pharmaceutical	(13)	First Lien Term Loan	S + 5.75%	11.14	%	8/22/2028	3,395	3,337	3,296	0.59	%
Wellspring Pharmaceutical (Delayed Draw)	(17)	First Lien Term Loan	S + 5.75%	11.14	%	8/22/2028	1,579	1,569	1,533	0.27	%
Wellspring Pharmaceutical (Delayed Draw) (Incremental)	(11) (17)	First Lien Term Loan	S + 5.75%	11.14	%	8/22/2028	3,756	(18)	(73)	(0.01	%)
Wellspring Pharmaceutical (Incremental)	(13) (17)	First Lien Term Loan	S + 5.75%	11.14	%	8/22/2028	1,252	1,228	1,228	0.22	%
Total Healthcare & Pharmaceuticals								142,995	139,587	25.03	%

High Tech Industries
Acclaim MidCo, LLC (dba ClaimLogiQ)	(13) (17)	First Lien Term Loan	S + 6.25%	11.52	%	6/13/2029	8,062	7,901	7,902	1.43	%
Acclaim MidCo, LLC (dba ClaimLogiQ) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.50%	10.77	%	6/13/2029	3,225	(16)	(64)	(0.01	%)
Argano, LLC	(6) (13)	First Lien Term Loan	S + 5.50%	10.64	%	6/10/2026	5,662	5,627	5,422	0.97	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Argano, LLC (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.50%	10.64	%	6/10/2026	2,507	2,507	2,401	0.43	%
Argano, LLC (Delayed Draw) (Incremental)	(6)	First Lien Term Loan	S + 5.50%	10.64	%	6/10/2026	1,713	1,680	1,641	0.29	%
Diligent Corporation	(6) (9) (17)	First Lien Term Loan	S + 6.25%	11.39	%	8/4/2025	12,534	12,511	12,042	2.16	%
Diligent Corporation	(9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	8/4/2025	3,404	3,387	3,241	0.58	%
Diligent Corporation	(9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	8/4/2025	1,483	1,476	1,412	0.25	%
Diligent Corporation (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 6.25%	11.39	%	8/4/2025	169	169	162	0.03	%
Diligent Corporation (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 6.25%	11.39	%	8/4/2025	106	106	102	0.02	%
Eliassen Group LLC	(6) (9) (13)	First Lien Term Loan	S + 5.50%	10.89	%	4/14/2028	12,131	12,032	11,936	2.14	%
Eliassen Group LLC (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.50%	10.77	%	4/14/2028	2,775	408	369	0.07	%
Exterro	(6) (9) (13)	First Lien Term Loan	S + 5.50%	10.77	%	5/31/2024	9,474	9,448	9,537	1.71	%
Fineline Merger	(17)	Subordinated Debt	S + 9.00%	14.14	%	8/22/2028	2,941	2,909	2,909	0.52	%
Go Engineer	(6) (9) (13)	First Lien Term Loan	S + 5.63%	11.02	%	12/21/2027	11,631	11,542	11,295	2.03	%
Go Engineer (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 5.63%	11.02	%	12/21/2027	3,168	3,144	3,076	0.55	%
Infinite Bidco LLC (Infinite Electronics) (Incremental)	(9) (13)	First Lien Term Loan	S + 6.25%	11.64	%	3/2/2028	6,345	6,282	6,169	1.11	%
Infobase Acquisition, Inc.	(13)	First Lien Term Loan	S + 5.50%	10.89	%	6/14/2028	4,353	4,316	4,290	0.77	%
Infobase Acquisition, Inc. (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.50%	10.89	%	6/14/2028	721	—	(11)	—	%
ITSavvy LLC	(6) (13)	First Lien Term Loan	S + 5.50%	10.89	%	8/8/2028	7,833	7,766	7,868	1.41	%
ITSavvy LLC (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.50%	10.89	%	8/8/2028	1,682	1,510	1,531	0.27	%
North Haven CS Acquisition Inc	(6)	First Lien Term Loan	S + 5.25%	10.52	%	1/23/2025	5,822	5,822	5,822	1.04	%
Northern Star Industries Inc	(6)	First Lien Term Loan	S + 4.50%	9.77	%	3/28/2025	3,269	3,260	3,269	0.59	%
Prosci, Inc.	(6)	First Lien Term Loan	S + 4.50%	9.64	%	10/21/2026	4,733	4,701	4,684	0.84	%
Revalize (Delayed Draw)	(9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	4/15/2027	4,264	4,254	3,995	0.72	%
Revalize (Delayed Draw)	(6) (9) (17)	First Lien Term Loan	S + 5.75%	10.89	%	4/15/2027	1,095	1,088	1,026	0.18	%
Revalize (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 5.75%	10.89	%	4/15/2027	244	243	229	0.04	%
SmartWave	(6) (13)	First Lien Term Loan	S + 6.00%	11.27	%	11/5/2026	9,261	9,188	7,944	1.42	%
Solve Industrial Motion Group	(17)	Subordinated Debt	N/A	10.75	%	6/28/2028	1,777	1,749	1,711	0.31	%
Solve Industrial Motion Group	(17)	Subordinated Debt	N/A	12.50	%	6/28/2028	758	744	743	0.13	%
Solve Industrial Motion Group (Delayed Draw)	(17)	Subordinated Debt	N/A	10.75	%	6/28/2028	2,035	2,035	1,960	0.35	%
Total High Tech Industries								127,789	124,613	22.35	%

Media: Advertising, Printing & Publishing
Tinuiti	(6) (9) (13)	First Lien Term Loan	S + 5.00%	10.27	%	12/10/2026	2,963	2,941	2,861	0.51	%
Tinuiti (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.00%	10.27	%	12/10/2026	1,936	1,935	1,869	0.34	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Tinuiti (Delayed Draw) (Incremental)	(6) (9) (17)	First Lien Term Loan	S + 5.00%	10.14	%	12/10/2026	9,913	9,913	9,571	1.72	%
Wpromote	(13)	First Lien Term Loan	S + 6.00%	11.14	%	10/23/2028	4,401	4,321	4,341	0.78	%
Wpromote (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.00%	11.14	%	10/23/2028	588	(4)	(8)	—	%
Total Media: Advertising, Printing & Publishing								19,106	18,634	3.35	%

Media: Diversified & Production
Corporate Visions	(6) (13)	First Lien Term Loan	S + 4.50%	9.64	%	8/12/2027	2,902	2,881	2,764	0.50	%
Corporate Visions	(6) (13)	First Lien Term Loan	S + 4.50%	9.64	%	8/12/2027	2,550	2,520	2,430	0.44	%
Spectrio II	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.27	%	12/9/2026	8,082	8,034	7,760	1.39	%
Spectrio II (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.27	%	12/9/2026	2,871	2,854	2,757	0.49	%
Spectrio II (Delayed Draw)	(9) (13)	First Lien Term Loan	L + 5.75%	11.30	%	12/9/2026	438	436	417	0.07	%
Total Media: Diversified & Production								16,725	16,128	2.89	%

Retail
Syndigo	(6) (9) (13)	First Lien Term Loan	L + 4.50%	9.72	%	12/15/2027	5,865	5,883	5,632	1.01	%
Total Retail								5,883	5,632	1.01	%

Services: Business
ALKU Intermediate Holdings, LLC	(13) (17)	First Lien Term Loan	S + 6.25%	11.39	%	5/22/2029	4,530	4,440	4,441	0.81	%
Apex Companies Holdings, LLC	(17)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		1/31/2029	3,914	3,825	3,821	0.69	%
Apex Companies Holdings, LLC (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		1/31/2029	1,196	67	53	0.01	%
Big Truck Rental	(17)	Subordinated Debt	L + 8.00%	13.22	%	9/30/2027	10,000	9,847	10,000	1.79	%
Big Truck Rental	(17)	Subordinated Debt	L + 8.00%	13.22	%	9/30/2027	2,500	2,500	2,500	0.45	%
Bounteous	(6) (13)	First Lien Term Loan	S + 5.25%	10.64	%	8/2/2027	5,375	5,335	5,029	0.90	%
Bounteous	(6) (13)	First Lien Term Loan	S + 5.25%	10.52	%	8/2/2027	2,200	2,183	2,058	0.37	%
Bounteous (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.25%	10.64	%	8/2/2027	2,782	2,763	2,603	0.47	%
Bounteous (Delayed Draw)	(11) (17)	First Lien Term Loan	L + 5.25%	10.80	%	8/2/2027	4,467	—	(287)	(0.05	%)
BroadcastMed Holdco, LLC	(17)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,483	3,421	3,354	0.60	%
Bullhorn Inc	(6) (9) (13) (17)	First Lien Term Loan	S + 5.75%	10.89	%	9/30/2026	13,777	13,670	13,777	2.47	%
BusinesSolver	(6) (9) (13)	First Lien Term Loan	S + 5.50%	10.77	%	12/1/2027	7,780	7,720	7,651	1.37	%
BusinesSolver (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.50%	10.77	%	12/1/2027	2,120	173	145	0.03	%
Career Now	(17)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/30/2027	3,070	3,025	2,861	0.51	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Cornerstone Advisors of Arizona LLC	(6) (13)	First Lien Term Loan	S + 5.50%	10.89	%	9/24/2026	310	308	310	0.06	%
Cornerstone Advisors of Arizona LLC	(6) (13)	First Lien Term Loan	S + 5.50%	10.89	%	9/24/2026	2,307	2,294	2,307	0.41	%
Cornerstone Advisors of Arizona LLC (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.50%	10.89	%	9/24/2026	211	211	211	0.04	%
CrossCountry Consulting	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	6/1/2029	8,216	8,073	8,216	1.47	%
CrossCountry Consulting (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.75%	10.89	%	6/1/2029	3,320	(28)	—	—	%
D&H United Fueling Solutions	(13)	First Lien Term Loan	S + 5.25%	10.52	%	9/16/2028	7,529	7,395	7,231	1.30	%
D&H United Fueling Solutions (Delayed Draw)	(6)	First Lien Term Loan	S + 5.25%	10.52	%	9/16/2028	2,396	2,375	2,301	0.41	%
D&H United Fueling Solutions (Delayed Draw) (Incremental)	(11) (17)	First Lien Term Loan	S + 5.25%	10.52	%	9/16/2028	1,567	(8)	(31)	(0.01	%)
D&H United Fueling Solutions (Incremental)	(13) (17)	First Lien Term Loan	S + 5.25%	10.52	%	9/16/2028	3,483	3,413	3,413	0.61	%
E78	(6)	First Lien Term Loan	S + 5.50%	10.64	%	12/1/2027	5,629	5,586	5,528	0.99	%
E78 (Incremental)	(13)	First Lien Term Loan	S + 5.50%	10.64	%	12/1/2027	1,445	1,433	1,419	0.25	%
E78 (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.50%	10.64	%	12/1/2027	4,232	4,200	4,157	0.75	%
E78 (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.50%	10.64	%	12/1/2027	3,555	984	921	0.17	%
Evergreen Services Group	(6) (9) (13)	First Lien Term Loan	S + 6.15%	11.42	%	6/15/2029	12,027	11,814	11,633	2.09	%
Evergreen Services Group (Delayed Draw)	(9) (17)	First Lien Term Loan	S + 6.15%	11.42	%	6/15/2029	2,877	2,852	2,783	0.50	%
Gabriel Partners LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	9/21/2026	9,239	9,183	9,239	1.66	%
Gabriel Partners LLC (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	L + 5.75%	11.30	%	9/21/2026	1,539	1,539	1,539	0.28	%
Gabriel Partners LLC (Incremental)	(9) (13)	First Lien Term Loan	L + 5.75%	11.30	%	9/21/2026	3,814	3,788	3,814	0.68	%
Lion Merger Sub Inc	(9) (13)	First Lien Term Loan	L + 6.00%	11.55	%	12/17/2025	7,358	7,315	7,263	1.30	%
Lion Merger Sub Inc (Incremental)	(9) (13)	First Lien Term Loan	S + 6.00%	11.27	%	12/17/2025	7,336	7,255	7,241	1.30	%
LSCS Holdings Inc.	(6) (13)	First Lien Term Loan	L + 4.50%	9.72	%	12/16/2028	9,850	9,809	9,540	1.71	%
LYNX FRANCHISING, LLC	(6) (9) (13)	First Lien Term Loan	L + 6.25%	12.01	%	12/23/2026	9,850	9,775	9,616	1.72	%
Output Services Group, Inc.	(16) (17)	First Lien Term Loan	S + 6.75%	10.16% (Cash) 1.50% (PIK)		6/29/2026	3,882	3,434	2,135	0.38	%
Phaidon International	(7) (10) (13)	First Lien Term Loan	S + 5.50%	10.64	%	8/22/2029	14,625	14,497	14,507	2.60	%
Plaze	(17)	Subordinated Debt	S + 7.50%	12.64	%	7/7/2028	15,000	14,647	13,682	2.45	%
RoadOne (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	1,397	(19)	(30)	(0.01	%)
RoadOne	(17)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	4,583	4,457	4,484	0.80	%
Scaled Agile	(6) (9) (13)	First Lien Term Loan	S + 5.50%	10.77	%	12/15/2028	7,976	7,911	7,806	1.40	%
Scaled Agile (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.50%	10.77	%	12/15/2028	1,923	392	351	0.06	%
Smile Brands	(17)	Subordinated Debt	L + 8.50%	14.26	%	4/13/2026	9,597	9,506	8,383	1.50	%
Soliant Health	(6) (13)	First Lien Term Loan	S + 5.25%	10.39	%	3/31/2028	8,461	8,417	8,461	1.52	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Technical Safety Services	(13)	First Lien Term Loan	S + 4.50%	9.77	%	6/22/2029	6,806	6,747	6,689	1.20	%
Technical Safety Services (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 4.50%	9.77	%	6/22/2029	3,117	2,075	2,048	0.37	%
TouchTunes Interactive	(6) (13)	First Lien Term Loan	S + 5.00%	10.27	%	4/2/2029	9,925	9,839	9,815	1.76	%
Transit Buyer LLC (dba“Propark”)	(13)	First Lien Term Loan	S + 6.25%	11.64	%	1/31/2029	6,858	6,732	6,729	1.21	%
Transit Buyer LLC (dba“Propark”) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.25%	11.64	%	1/31/2029	3,125	(58)	(59)	(0.01	%)
Trilon Group, LLC	(13)	First Lien Term Loan	S + 6.25%	11.52	%	5/28/2029	2,993	2,972	2,903	0.52	%
Trilon Group, LLC	(13)	First Lien Term Loan	S + 6.25%	11.52	%	5/27/2029	7,444	7,380	7,220	1.30	%
Trilon Group, LLC (Delayed Draw)	(17)	First Lien Term Loan	S + 6.25%	11.52	%	5/27/2029	7,463	7,463	7,238	1.30	%
Trilon Group, LLC (Delayed Draw)	(17)	First Lien Term Loan	S + 6.25%	11.52	%	5/28/2029	1,995	1,995	1,935	0.35	%
Vital Records Control	(6) (9) (13)	First Lien Term Loan	S + 5.50%	10.64	%	6/29/2027	4,606	4,563	4,477	0.80	%
Vital Records Control	(9) (13)	First Lien Term Loan	S + 5.75%	11.14	%	6/29/2027	152	150	149	0.03	%
Vital Records Control (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.75%	11.02	%	6/29/2027	184	167	166	0.03	%
Worldwide Clinical Trials Holdings Inc	(6)	First Lien Term Loan	S + 4.25%	9.52	%	12/5/2024	3,838	3,829	3,838	0.69	%
Worldwide Clinical Trials Holdings Inc (Incremental)	(6) (13)	First Lien Term Loan	S + 4.25%	9.52	%	12/5/2024	6,089	6,064	6,089	1.09	%
Total Services: Business								281,695	275,673	49.45	%

Services: Consumer
ADPD Holdings, LLC (a/k/a NearU)	(6) (9) (13) (17)	First Lien Term Loan	S + 6.00%	11.39	%	8/16/2028	8,495	8,495	8,242	1.49	%
ADPD Holdings, LLC (a/k/a NearU) (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 6.00%	11.39	%	8/16/2028	1,577	—	(47)	(0.01	%)
ADPD Holdings, LLC (a/k/a NearU) (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 6.00%	11.39	%	8/16/2028	1,714	—	(51)	(0.01	%)
All My Sons	(6) (13)	First Lien Term Loan	S + 4.75%	9.89	%	10/25/2028	5,290	5,249	5,052	0.91	%
Allstar Holdings	(17)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	2,070	2,009	2,010	0.36	%
Allstar Holdings (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	4,026	(59)	(118)	(0.02	%)
Apex Services Partners, LLC (Delayed Draw) (Incremental)	(9) (17)	First Lien Term Loan	S + 5.50%	10.77	%	7/31/2025	4,963	4,962	4,963	0.89	%
Apex Services Partners, LLC (Incremental)	(9) (13)	First Lien Term Loan	S + 5.50%	10.77	%	7/31/2025	4,963	4,927	4,963	0.89	%
Excel Fitness	(6) (13)	First Lien Term Loan	S + 5.25%	10.64	%	4/27/2029	9,925	9,824	9,514	1.71	%
Fairway Lawns	(17)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	2,695	2,623	2,620	0.47	%
Fairway Lawns (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	6,232	3,877	3,703	0.66	%
Legacy Service Partners, LLC (“LSP”)	(13)	First Lien Term Loan	S + 6.50%	11.77	%	1/9/2029	10,213	10,024	10,023	1.80	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Legacy Service Partners, LLC (“LSP”) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.50%	11.77	%	1/9/2029	4,753	3,533	3,467	0.62	%
Liberty Buyer	(9) (13)	First Lien Term Loan	S + 5.50%	10.77	%	6/15/2028	3,949	3,915	3,918	0.70	%
Liberty Buyer (Delayed Draw)	(9) (11) (17)	First Lien Term Loan	S + 5.50%	10.77	%	6/15/2028	746	297	291	0.05	%
NJEye LLC	(6)	First Lien Term Loan	S + 4.75%	10.14	%	9/16/2024	5,368	5,352	5,263	0.94	%
NJEye LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.14	%	9/16/2024	703	703	690	0.12	%
NJEye LLC (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 4.75%	10.14	%	9/16/2024	1,373	882	857	0.15	%
NJEye LLC (Delayed Draw)	(17)	First Lien Term Loan	S + 4.75%	10.14	%	9/16/2024	895	895	877	0.16	%
North Haven Spartan US Holdco LLC	(6)	First Lien Term Loan	S + 6.25%	11.52	%	6/6/2025	2,516	2,514	2,478	0.44	%
North Haven Spartan US Holdco LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 6.25%	11.52	%	6/6/2025	218	218	215	0.04	%
One World Fitness PFF LLC	(6)	First Lien Term Loan	L + 5.25%	10.80	%	11/26/2025	3,869	3,870	3,496	0.63	%
Total Services: Consumer								74,110	72,426	12.99	%

Sovereign & Public Finance
LMI Consulting, LLC (LMI)	(13)	First Lien Term Loan	S + 6.50%	11.77	%	7/18/2028	4,373	4,297	4,282	0.77	%
LMI Consulting, LLC (LMI) (Incremental)	(6)	First Lien Term Loan	S + 6.50%	11.77	%	7/18/2028	4,963	4,963	4,859	0.87	%
Total Sovereign & Public Finance								9,260	9,141	1.64	%

Telecommunications
BCM One	(6) (13)	First Lien Term Loan	S + 4.50%	9.89	%	11/17/2027	6,106	6,106	5,909	1.06	%
BCM One (Delayed Draw)	(6)	First Lien Term Loan	S + 4.50%	9.77	%	11/17/2027	1,836	1,836	1,777	0.32	%
Corbett Technology Solutions, Inc. ("CTSI")	(6) (10) (13)	First Lien Term Loan	S + 5.75%	11.02	%	10/29/2027	5,785	5,743	5,659	1.02	%
Corbett Technology Solutions, Inc. ("CTSI") (Delayed Draw)	(6) (10) (13)	First Lien Term Loan	S + 5.75%	11.02	%	10/29/2027	4,065	4,064	3,976	0.71	%
Mobile Communications America, Inc.	(6)	First Lien Term Loan	S + 5.38%	10.65	%	3/4/2025	3,836	3,841	3,823	0.69	%
Mobile Communications America, Inc.	(13)	First Lien Term Loan	S + 5.50%	10.77	%	3/4/2025	4,281	4,220	4,241	0.76	%
Mobile Communications America, Inc. (Incremental)	(6)	First Lien Term Loan	S + 5.38%	10.65	%	3/4/2025	680	679	677	0.12	%
Momentum Telecom II	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.89	%	4/16/2027	10,105	10,039	9,790	1.76	%
Sapphire Telecom Inc	(6) (9)	First Lien Term Loan	L + 5.25%	10.80	%	11/20/2025	6,685	6,658	6,565	1.18	%
Tyto Athene, LLC	(6) (13)	First Lien Term Loan	S + 5.50%	10.77	%	4/3/2028	7,157	7,103	6,541	1.17	%
Total Telecommunications								50,289	48,958	8.79	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Transportation: Cargo
FSK Pallet Holding Corp. (DBA Kamps Pallets)	(13)	First Lien Term Loan	S + 5.50%	10.77	%	12/23/2026	9,925	9,753	9,698	1.75	%
Kenco Group, Inc.	(13)	First Lien Term Loan	S + 5.00%	10.27	%	11/15/2029	8,541	8,384	8,421	1.51	%
Kenco Group, Inc. (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 5.00%	10.27	%	11/15/2029	1,416	(26)	(20)	—	%
Quantix (f/k/a A&R Logistics Holdings, Inc.) (Incremental)	(6) (9)	First Lien Term Loan	S + 6.00%	11.27	%	5/5/2025	259	258	257	0.05	%
Quantix (f/k/a A&R Logistics Holdings, Inc.) (Incremental)	(9) (13)	First Lien Term Loan	S + 5.50%	10.77	%	5/5/2025	899	895	885	0.16	%
Quantix (f/k/a A&R Logistics Holdings, Inc.) (Incremental)	(6) (9)	First Lien Term Loan	S + 6.00%	11.27	%	5/5/2025	182	181	181	0.03	%
Quantix (f/k/a A&R Logistics Holdings, Inc.) (Incremental)	(6) (9)	First Lien Term Loan	S + 6.00%	11.27	%	5/5/2025	4,390	4,369	4,359	0.78	%
Quantix (f/k/a A&R Logistics Holdings, Inc.) (Incremental)	(9) (13)	First Lien Term Loan	S + 6.00%	11.27	%	5/5/2025	1,366	1,345	1,356	0.24	%
SEKO Global Logistics	(17)	Subordinated Debt	L + 9.00%	14.55	%	6/30/2027	5,805	5,726	5,805	1.04	%
SEKO Global Logistics	(17)	Subordinated Debt	L + 9.00%	14.55	%	6/30/2027	4,029	3,970	4,029	0.72	%
SEKO Global Logistics	(6)	First Lien Term Loan	S + 4.75%	10.02	%	12/30/2026	1,131	1,123	1,118	0.20	%
SEKO Global Logistics (Delayed Draw) (Incremental)	(11) (17)	First Lien Term Loan	L + 4.75%	10.30	%	12/30/2026	4,507	1,694	1,643	0.29	%
SEKO Global Logistics (Incremental)	(13)	First Lien Term Loan	S + 4.75%	10.02	%	12/30/2026	1,525	1,513	1,508	0.27	%
TI ACQUISITION NC LLC	(6)	First Lien Term Loan	S + 4.50%	9.77	%	3/19/2027	2,795	2,726	2,664	0.48	%
Total Transportation: Cargo								41,911	41,904	7.52	%

Utilities: Electric
Pinnacle Supply Partners, LLC	(13)	First Lien Term Loan	S + 6.00%	0.1127		4/3/2030	6,364	6,240	6,241	1.12	%
Pinnacle Supply Partners, LLC (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.00%	0.1127		4/3/2030	3,636	(34)	(70)	(0.01	%)
TPC Wire & Cable	(17)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		2/16/2028	2,205	2,184	2,147	0.39	%
TPC Wire & Cable (Delayed Draw)	(11) (17)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		2/16/2028	1,780	1,774	1,733	0.31	%
Total Utilities: Electric								10,164	10,051	1.81	%

Wholesale
INS Intermediate II, LLC (Ergotech Controls, Inc. – d/b/a INS)	(13)	First Lien Term Loan	S + 6.50%	11.77	%	1/19/2029	8,001	7,853	7,852	1.42	%
INS Intermediate II, LLC (Ergotech Controls, Inc. – d/b/a INS) (Delayed Draw)	(11) (17)	First Lien Term Loan	S + 6.50%	11.77	%	1/19/2029	1,979	(37)	(37)	(0.01	%)
ISG Merger Sub, LLC (dba Industrial Service Group)	(13)	First Lien Term Loan	S + 6.25%	11.52	%	12/7/2028	6,558	6,436	6,437	1.15	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Equity Investments
Automotive
Covercraft	(8) (14) (17)	Equity Investments	8/20/2021	768	768	516	0.10	%
S&S Truck Parts	(8) (14) (17)	Equity Investments	3/31/2022	4	378	302	0.05	%
S&S Truck Parts	(8) (14) (17)	Equity Investments	8/1/2022	78,541	79	63	0.01	%
Total Automotive					1,225	881	0.16	%

Beverage, Food & Tobacco
Bardstown PPC Holdings LLC	(8) (14) (17)	Equity Investments	7/13/2022	14,777	1,860	2,169	0.39	%
Fresh Edge - Common	(8) (14) (17)	Class B Units	10/3/2022	667	—	79	0.01	%
Fresh Edge - Preferred	(8) (14) (17)	Preferred Units	10/3/2022	667	667	717	0.13	%
Total Beverage, Food & Tobacco					2,527	2,965	0.53	%

Capital Equipment
Crete Mechanical Group	(8) (14) (17)	Equity Investments	5/19/2022	23	230	347	0.06	%
EFC Holdings, LLC	(8) (10) (14) (17)	Common Units	3/1/2023	148	60	64	0.01	%
EFC Holdings, LLC	(8) (10) (14) (17)	Preferred Units	3/1/2023	148	148	152	0.03	%
Precision Surfacing - Common	(8) (10) (14) (17)	Preferred Units	10/5/2022	3,750,000	3,750	6,675	1.20	%
Repipe Specialists	(8) (14) (17)	Equity Investments	3/31/2022	239	239	185	0.03	%
Total Capital Equipment					4,427	7,423	1.33	%

Construction & Building
Erie Construction	(8) (17)	Equity Investments	7/30/2021	166	166	583	0.10	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)
Gannett Fleming	(8) (14) (17)	Limited Partnership Interest	12/20/2022	424,742	425	423	0.08	%
Gannett Fleming	(8) (14) (17)	Series F Units	5/27/2023	569,505	570	567	0.10	%
Total Construction & Building					1,161	1,573	0.28	%

Consumer Goods: Non-durable
FoodScience	(8) (14) (17)	Equity Investments	3/1/2021	98	98	27	—	%
FoodScience	(8) (14) (17)	Equity Investments	3/1/2021	5,168	5	—	—	%
Ultima Health Holdings, LLC	(8) (14) (17)	Preferred Units	9/12/2022	15	170	154	0.03	%
Total Consumer Goods: Non-durable					273	181	0.03	%

Containers, Packaging & Glass
Oliver Packaging	(8) (14) (17)	Class A Common Units	7/12/2022	10,230	1,023	955	0.17	%
Specialized Packaging Group	(7) (8) (10) (14) (17)	Class A Common Units	12/17/2020	147,708	148	148	0.03	%
Total Containers, Packaging & Glass					1,171	1,103	0.20	%

Healthcare & Pharmaceuticals
AG MDC Holdings, Inc	(8) (10) (14) (17)	Equity Investments	2/7/2023	245	245	248	0.05	%
Anne Arundel	(8) (14) (17)	Equity Investments	10/16/2020	10,061	816	509	0.09	%
Health Management Associates	(8) (14) (17)	Class A Common Units	3/31/2023	399,904	400	443	0.08	%
Total Healthcare & Pharmaceuticals					1,461	1,200	0.22	%

High Tech Industries
ITSavvy LLC	(8) (14) (17)	Class A Common Units	8/8/2022	522	522	796	0.14	%
Solve Industrial Motion Group	(8) (14) (17)	Equity Investments	6/30/2021	313	313	264	0.05	%
Total High Tech Industries					835	1,060	0.19	%

Services: Business
Apex Companies Holdings, LLC	(8) (10) (14) (17)	Equity Investments	1/31/2023	1,173	117	121	0.02	%
BroadcastMed Holdco, LLC	(8) (17)	Preferred Units	10/4/2022	56,899	853	812	0.15	%
Career Now	(8) (14) (17)	Equity Investments	9/30/2021	624	624	379	0.07	%
E78	(8) (14) (17)	Equity Investments	12/1/2021	816	860	1,043	0.19	%
RoadOne - Common	(8) (14) (17)	Equity Investments	12/29/2022	1,173,220	938	1,635	0.29	%
Total Services: Business					3,392	3,990	0.72	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost		Fair Value (4)		% of Net Assets (5)

Services: Consumer
ADPD Holdings, LLC (a/k/a NearU)	(8) (14) (17)	Equity Investments	8/11/2022	2,432	243		223		0.04	%
Legacy Service Partners, LLC (“LSP”)	(8) (14) (17)	Class B Units	1/9/2023	4,907	491		497		0.09	%
Total Services: Consumer					734		720		0.13	%

Sovereign & Public Finance
LMI Renaissance	(8) (14) (17)	Limited Partnership Interest	6/30/2022	648,627	649		1,269		0.23	%
Total Sovereign & Public Finance					649		1,269		0.23	%

Transportation: Cargo
SEKO Global Logistics	(8) (17)	Equity Investments	12/30/2020	671,203	332		2,249		0.40	%
Total Transportation: Cargo					332		2,249		0.40	%

Utilities: Electric
Pinnacle Supply Partners, LLC	(8) (14) (17)	Subject Partnership Units	4/3/2023	279,687	280		280		0.05	%
Total Utilities: Electric					280		280		0.05	%

Total Equity Investments					18,467		24,894		4.47	%
Cash equivalents	(12)				35,350		35,350		6.34	%
Total Investments and Cash Equivalents					$	1,426,683	$	1,386,107	248.63	%

(1)All investments are non-controlled/non-affiliated investments as defined by the Investment Company Act of 1940, as amended (the "1940 Act"). The 1940 Act classifies investments based on the level of control that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a portfolio company is generally presumed to be “non-controlled” when the Company owns 25% or less of the portfolio company’s voting securities and “controlled” when the Company owns more than 25% of the portfolio company’s voting securities. The 1940 Act also classifies investments further based on the level of ownership that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when the Company owns less than 5% of a portfolio company’s voting securities and “affiliated” when the Company owns 5% or more of a portfolio company’s voting securities.

(3)The majority of the investments bear interest at rates that may be determined by reference to Secured Overnight Financing Rate ("SOFR" or "S"), which reset monthly or quarterly. For each such investment, the Company has provided the spread over SOFR and LIBOR and the current contractual interest rate in effect at June 30, 2023. As of June 30, 2023, rate for 1M S, 3M S, 6M S, 12M S ("SOFR") are 5.14%, 5.27%, 5.39%, and 5.40% respectively. As of June 30, 2023, effective rates for 1M L, 3M L, 6M L and 12M L are 5.22%, 5.55%, 5.76% and 6.04% respectively. For portfolio companies with multiple interest rate contracts, the interest rate shown is a weighted average current interest rate in effect as of June 30, 2023. Certain investments are subject to a SOFR or LIBOR floor. For fixed rate loans, a spread above a reference rate is not applicable.

(13)Denotes that all or a portion of the assets are owned by SPV II and/or SPV III (each as defined in Note 1 "Organization"). SPV II has entered into a senior secured revolving credit facility (the “SMBC Financing Facility”). The lenders of the SMBC Financing Facility have a first lien security interest in substantially all of the assets of SPV II. Accordingly, such assets are not available to other creditors of the Company. SPV III has entered into a senior secured revolving credit facility (the “Wells Fargo Financing Facility”). The lenders of the Wells Fargo Financing Facility have a first lien security interest in substantially all of the assets of SPV III. Accordingly, such assets are not available to other creditors of the Company.


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Investments
Debt Investments
Aerospace & Defense
AEgis Technologies	(6) (13)	First Lien Term Loan	L + 6.00%	10.77	%	10/31/2025	$	14,807	$	14,700	$	14,375	2.74	%
Arotech	(6) (13)	First Lien Term Loan	L + 6.25%	10.64	%	10/22/2026	9,297		9,200		8,614		1.64	%
Arotech (Delayed Draw)	(6) (13)	First Lien Term Loan	L + 6.25%	11.02	%	10/22/2026	452		450		419		0.08	%
Loc Performance Products	(6) (13)	First Lien Term Loan	S + 5.25%	9.84	%	12/22/2026	7,350		7,272		6,954		1.33	%
Valkyrie		Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,808		2,754		2,748		0.52	%
Total Aerospace & Defense									34,376		33,110		6.31	%

Automotive
American Auto Auction Group	(6) (13) (15)	First Lien Term Loan	S + 5.00%	9.59	%	12/30/2027	10,627		10,533		8,348		1.59	%
Classic Collision (Delayed Draw) (Incremental)	(6) (11) (13)	First Lien Term Loan	L + 5.75%	10.89	%	1/14/2026	7,010		6,293		6,093		1.16	%
Classic Collision (Incremental)	(6) (9) (13)	First Lien Term Loan	L + 5.75%	10.89	%	1/14/2026	7,830		7,766		7,607		1.45	%
Collision Right	(13)	First Lien Term Loan	S + 4.75%	9.34	%	4/14/2028	4,838		4,808		4,733		0.90	%
Collision Right (Delayed Draw)	(11)	First Lien Term Loan	S + 4.75%	9.34	%	4/14/2028	506		(4)		(11)		—	%
Covercraft		Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/21/2028	7,422		7,299		7,167		1.37	%
Covercraft (Delayed Draw)	(11)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/21/2028	4,386		—		(150)		(0.03	%)
JEGS Automotive	(6)	First Lien Term Loan	L + 6.00%	10.77	%	12/22/2027	4,029		3,995		3,773		0.72	%
JEGS Automotive (Delayed Draw)	(11)	First Lien Term Loan	L + 5.75%	10.52	%	12/22/2027	930		—		(59)		(0.01	%)
OEP Glass Purchaser	(6) (13)	First Lien Term Loan	S + 5.25%	9.84	%	4/18/2028	14,888		14,751		14,443		2.75	%
Randys Holdings, Inc	(9) (13)	First Lien Term Loan	S + 6.50%	11.09	%	11/1/2028	11,250		11,028		11,031		2.10	%
Randys Holdings, Inc (Delayed Draw)	(9) (11)	First Lien Term Loan	S + 6.50%	11.09	%	11/1/2028	3,750		—		(73)		(0.01	%)
S&S Truck Parts	(6) (13)	First Lien Term Loan	S + 4.75%	9.34	%	3/1/2029	6,928		6,865		6,890		1.31	%
S&S Truck Parts	(13)	First Lien Term Loan	S + 4.75%	9.11	%	3/1/2029	1,171		1,160		1,164		0.22	%
S&S Truck Parts (Delayed Draw)	(11)	First Lien Term Loan	S + 4.75%	9.34	%	3/1/2029	98		—		(1)		—	%
S&S Truck Parts (Delayed Draw)	(11)	First Lien Term Loan	S + 4.75%	9.11	%	3/1/2029	1,740		1,592		1,583		0.30	%
Total Automotive									76,086		72,538		13.82	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Banking, Finance, Insurance, Real Estate
Allied Benefit Systems	(6) (13)	First Lien Term Loan	S + 4.50%	9.09	%	11/18/2026	5,991	5,951	5,889	1.12	%
Bankruptcy Management Solutions Inc	(6)	First Lien Term Loan	S + 4.50%	8.86	%	2/28/2025	3,850	3,869	3,824	0.73	%
Coding Solutions Acquisitions	(6) (9) (13)	First Lien Term Loan	S + 5.50%	9.86	%	5/11/2028	6,497	6,436	6,367	1.21	%
Coding Solutions Acquisitions (Delayed Draw)	(9) (11)	First Lien Term Loan	S + 5.75%	10.11	%	5/11/2028	1,967	—	(39)	(0.01	%)
Long Term Care Group	(6) (9) (13)	First Lien Term Loan	L + 6.00%	10.39	%	9/8/2027	6,654	6,598	6,521	1.25	%
Patriot Growth Insurance Service (Delayed Draw) (Incremental)	(9) (11)	First Lien Term Loan	L + 5.75%	10.52	%	10/14/2028	7,199	450	319	0.06	%
Risk Strategies (Delayed Draw)	(9) (11)	First Lien Term Loan	S + 5.50%	10.09	%	11/1/2026	11,045	332	145	0.03	%
Risk Strategies (Delayed Draw)	(9)	First Lien Term Loan	S + 5.50%	10.09	%	11/1/2026	3,945	3,945	3,839	0.73	%
Vensure Employer Services	(6) (13)	First Lien Term Loan	S + 4.75%	9.34	%	3/26/2027	14,806	14,754	14,486	2.76	%
World Insurance Associates	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.34	%	4/1/2026	1,981	1,965	1,912	0.36	%
World Insurance Associates (Delayed Draw)	(9) (11)	First Lien Term Loan	S + 5.75%	10.34	%	4/1/2026	5,005	2,472	2,298	0.44	%
World Insurance Associates (Delayed Draw)	(9)	First Lien Term Loan	S + 5.75%	10.34	%	4/1/2026	8,000	8,000	7,721	1.47	%
Total Banking, Finance, Insurance, Real Estate								54,772	53,282	10.15	%

Beverage, Food & Tobacco
Bardstown PPC Holdings LLC		Subordinated Debt	S + 7.75%	12.34	%	8/30/2027	9,300	9,125	9,216	1.76	%
Death Wish Coffee	(6) (9) (13)	First Lien Term Loan	L + 4.75%	9.52	%	9/28/2027	9,900	9,819	9,832	1.87	%
Dessert Holdings	(6)	Subordinated Debt	L + 7.25%	12.02	%	6/8/2029	9,000	8,860	8,325	1.59	%
Fresh Edge		Subordinated Debt	S + 9.00%	13.36	%	4/3/2029	3,770	3,679	3,679	0.70	%
GA Foods	(13) (16)	First Lien Term Loan	L + 5.50%	9.77% (Cash) 0.50% (PIK)		12/1/2026	14,781	14,676	8,898	1.69	%
Handgards	(6) (13)	First Lien Term Loan	L + 7.00%	11.77	%	10/14/2026	14,663	14,466	14,663	2.79	%
KSLB Holdings LLC	(13)	First Lien Term Loan	L + 4.50%	8.89	%	7/30/2025	2,888	2,867	2,633	0.50	%
Rise Baking	(6) (9) (13)	First Lien Term Loan	L + 6.50%	11.27	%	8/13/2027	14,850	14,672	13,769	2.62	%
Watermill Express, LLC	(6) (9) (13)	First Lien Term Loan	L + 5.50%	10.27	%	4/20/2027	3,290	3,264	3,225	0.62	%
Watermill Express, LLC (Delayed Draw)	(9) (11)	First Lien Term Loan	L + 5.50%	10.27	%	4/20/2027	318	197	191	0.04	%
Total Beverage, Food & Tobacco								81,625	74,431	14.18	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Capital Equipment
Blackbird Purchaser Inc.	(6) (13)	First Lien Term Loan	L +4.50%	8.89	%	4/8/2026	7,201	7,159	7,018	1.34	%
Blackbird Purchaser Inc. (Delayed Draw)	(11)	First Lien Term Loan	L +4.50%	8.89	%	4/8/2026	2,709	(22)	(69)	(0.01	%)
Crete Mechanical Group	(6) (13)	First Lien Term Loan	S +5.25%	9.84	%	5/19/2028	4,872	4,825	4,785	0.91	%
Crete Mechanical Group (Delayed Draw)	(6)	First Lien Term Loan	S + 5.25%	9.84	%	5/19/2028	2,875	2,828	2,824	0.54	%
Crete Mechanical Group (Delayed Draw)	(11)	First Lien Term Loan	S + 5.00%	9.59	%	5/19/2028	7,211	4,484	4,356	0.83	%
Heartland Home Services	(6) (9) (13)	First Lien Term Loan	L +6.00%	10.39	%	12/15/2026	6,534	6,486	6,368	1.21	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	L + 6.00%	10.39	%	12/15/2026	5,665	5,642	5,521	1.05	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	L + 6.00%	10.39	%	12/15/2026	2,598	2,598	2,532	0.48	%
PT Intermediate Holdings III, LLC	(6) (9) (13)	First Lien Term Loan	L + 5.50%	10.27	%	11/1/2028	8,824	8,790	8,624	1.64	%
PT Intermediate Holdings III, LLC (Incremental)	(6) (9) (13)	First Lien Term Loan	L + 5.50%	10.27	%	11/1/2028	1,079	1,069	1,054	0.20	%
Repipe Specialists		Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	2,408	2,364	2,292	0.44	%
Repipe Specialists (Delayed Draw)	(11)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	900	—	(44)	(0.01	%)
Total Capital Equipment								46,223	45,261	8.62	%

Chemicals, Plastics, & Rubber
Ascensus	(9)	Subordinated Debt	L + 6.50%	11.27	%	8/2/2029	9,000	8,929	8,447	1.61	%
Ascensus Specialties	(6) (9) (13)	First Lien Term Loan	L + 4.25%	8.64	%	6/30/2028	9,831	9,669	9,504	1.81	%
Boulder Scientific Company LLC	(6)	First Lien Term Loan	L + 4.25%	9.02	%	12/29/2025	2,088	2,098	2,061	0.39	%
Spartech	(6) (9) (13)	First Lien Term Loan	L + 4.75%	9.52	%	5/8/2028	14,919	14,837	14,517	2.77	%
Total Chemicals, Plastics, & Rubber								35,533	34,529	6.58	%

Construction & Building
Erie Construction	(6) (13)	First Lien Term Loan	S + 4.75%	9.53	%	7/30/2027	10,702	10,612	10,702	2.04	%
Gannett Fleming	(13)	First Lien Term Loan	S + 6.50%	11.09	%	12/20/2028	10,000	9,801	9,801	1.87	%
Sciens Building Solutions, LLC	(6) (9) (13)	First Lien Term Loan	L + 5.75%	10.52	%	12/15/2027	9,410	9,250	8,917	1.70	%
Sciens Building Solutions, LLC (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	L + 5.75%	10.52	%	12/15/2027	4,938	1,594	1,377	0.26	%
Total Construction & Building								31,257	30,797	5.87	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Consumer Goods: Durable
Halo Buyer Inc	(6) (15)	First Lien Term Loan	L + 4.50%	8.89	%	6/30/2025	5,728	5,686	5,062	0.97	%
Petmate	(6) (9) (13)	First Lien Term Loan	L + 5.50%	10.27	%	9/15/2028	9,900	9,815	7,951	1.51	%
Xpressmyself.com LLC (a/k/a SmartSign)	(13)	First Lien Term Loan	S + 5.00%	9.59	%	9/7/2028	9,975	9,881	9,881	1.88	%
Total Consumer Goods: Durable								25,382	22,894	4.36	%

Consumer Goods: Non-durable
Arcadia Consumer Health	(6) (9) (13)	First Lien Term Loan	S + 4.75%	9.11	%	9/10/2027	12,733	12,628	12,609	2.40	%
Badger Sportswear Acquisition Inc	(6)	First Lien Term Loan	L + 4.50%	8.89	%	12/24/2023	3,842	3,816	3,746	0.71	%
Elevation Labs	(13)	First Lien Term Loan	S + 5.25%	9.84	%	6/30/2028	6,858	6,793	6,784	1.29	%
Elevation Labs (Delayed Draw)	(11)	First Lien Term Loan	S + 5.25%	9.84	%	6/30/2028	3,125	(29)	(34)	(0.01	%)
FoodScience	(6) (13)	First Lien Term Loan	L + 4.75%	9.52	%	3/1/2027	7,823	7,762	7,055	1.35	%
FoodScience	(6) (13)	First Lien Term Loan	L + 4.75%	9.52	%	3/1/2027	6,951	6,897	6,269	1.20	%
Market Performance Group	(6) (13)	First Lien Term Loan	L + 5.75%	10.52	%	12/29/2026	2,531	2,510	2,531	0.48	%
Market Performance Group	(6) (13)	First Lien Term Loan	L + 5.75%	10.52	%	12/29/2026	7,350	7,324	7,350	1.40	%
Ultima Health Holdings, LLC		Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		3/12/2029	1,708	1,676	1,671	0.32	%
Total Consumer Goods: Non-durable								49,377	47,981	9.14	%

Containers, Packaging & Glass
B2B Packaging	(6) (13)	First Lien Term Loan	S + 6.75%	11.34	%	10/7/2026	12,613	12,571	12,313	2.35	%
B2B Packaging (Delayed Draw)	(13)	First Lien Term Loan	S + 6.75%	11.53	%	10/7/2026	2,232	2,232	2,179	0.41	%
B2B Packaging (Delayed Draw)	(6)	First Lien Term Loan	S + 6.75%	11.34	%	10/7/2026	118	115	115	0.02	%
Five Star Packing	(6) (13)	First Lien Term Loan	S + 4.25%	9.03	%	5/5/2029	7,653	7,545	7,516	1.43	%
Good2Grow	(6) (13)	First Lien Term Loan	L + 4.50%	9.27	%	12/1/2027	9,925	9,842	9,720	1.85	%
Oliver Packaging		Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		1/6/2029	2,523	2,476	2,395	0.46	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	L + 5.50%	10.64	%	12/17/2025	3,013	2,992	2,995	0.57	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	L + 5.50%	10.64	%	12/17/2025	7,350	7,301	7,304	1.39	%
Total Containers, Packaging & Glass								45,074	44,537	8.48	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Environmental Industries
Cadmus	(6)	First Lien Term Loan	S + 5.25%	9.84	%	9/14/2027	3,292	3,266	3,208	0.61	%
Cadmus (Delayed Draw)	(11)	First Lien Term Loan	L + 5.25%	9.64	%	9/14/2027	1,663	1,152	1,110	0.21	%
Nutrition 101 Buyer LLC (a/k/a 101, Inc.)	(13)	First Lien Term Loan	S + 5.25%	9.61	%	8/31/2028	6,715	6,651	6,649	1.27	%
The Facilities Group	(6) (9) (13)	First Lien Term Loan	L + 5.75%	10.14	%	11/30/2027	4,922	4,879	4,810	0.92	%
The Facilities Group (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	L + 5.75%	10.52	%	11/30/2027	4,996	4,114	4,001	0.76	%
Total Environmental Industries								20,062	19,778	3.77	%

Healthcare & Pharmaceuticals
Affinity Hospice	(6) (13)	First Lien Term Loan	L + 4.75%	9.52	%	12/17/2027	7,953	7,885	7,731	1.47	%
Affinity Hospice (Delayed Draw)	(11)	First Lien Term Loan	L + 4.75%	9.52	%	12/17/2027	1,981	—	(55)	(0.01	%)
Anne Arundel		Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	2,888	2,838	2,688	0.51	%
Anne Arundel		Subordinated Debt	N/A	11.00	%	4/16/2026	1,838	1,815	1,734	0.33	%
Anne Arundel (Delayed Draw)	(11)	Subordinated Debt	N/A	11.00	%	4/16/2026	2,258	1,880	1,730	0.33	%
Forefront Dermatology	(6) (9) (13)	First Lien Term Loan	S + 4.25%	8.61	%	4/2/2029	5,360	5,259	5,222	0.99	%
Forefront Dermatology (Delayed Draw)	(9) (11)	First Lien Term Loan	S + 4.25%	8.61	%	4/2/2029	1,007	895	869	0.17	%
Genesee Scientific	(6) (9)	First Lien Term Loan	L + 5.00%	9.77	%	9/30/2027	6,019	5,971	5,897	1.12	%
Genesee Scientific (Delayed Draw)	(9) (11)	First Lien Term Loan	L + 5.50%	10.27	%	9/30/2027	2,027	—	(41)	(0.01	%)
GHR Healthcare	(6) (9)	First Lien Term Loan	S + 4.75%	9.34	%	12/9/2027	6,467	6,411	6,467	1.23	%
GHR Healthcare (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	S + 4.75%	9.34	%	12/9/2027	3,444	2,023	2,023	0.39	%
GHR Healthcare (Incremental)	(9) (13)	First Lien Term Loan	S + 4.75%	9.53	%	12/9/2027	5,033	4,938	5,033	0.96	%
Heartland Veterinary Partners LLC (Incremental)		Subordinated Debt	S + 7.50%	12.09	%	12/10/2027	1,900	1,865	1,862	0.35	%
Heartland Veterinary Partners LLC (Incremental) (Delayed Draw)	(11)	Subordinated Debt	S + 7.50%	12.09	%	12/10/2027	9,500	—	(190)	(0.04	%)
InfuCare RX	(6) (13)	First Lien Term Loan	S + 4.50%	9.09	%	1/4/2028	9,900	9,814	9,695	1.85	%
Midwest Eye Consultants	(6) (13)	First Lien Term Loan	S + 4.50%	9.09	%	8/20/2027	9,113	9,039	8,579	1.63	%
PromptCare	(6) (9) (13)	First Lien Term Loan	L + 6.00%	10.39	%	9/1/2027	8,288	8,169	8,031	1.53	%
PromptCare (Delayed Draw)	(6) (9) (11) (13)	First Lien Term Loan	L + 6.00%	10.39	%	9/1/2027	3,025	777	711	0.14	%
Quorum Health Resources, LLC	(6) (13)	First Lien Term Loan	L + 5.25%	10.02	%	5/28/2027	7,759	7,695	7,445	1.42	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(13)	First Lien Term Loan	S + 6.00%	10.78	%	9/19/2028	9,875	9,587	9,589	1.83	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

SCP Eye Care Holdco, LLC (DBA EyeSouth Partners)	(13)	First Lien Term Loan	S + 5.75%	10.34	%	10/5/2029	7,549	7,475	7,404	1.41	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners) (Delayed Draw)	(11)	First Lien Term Loan	S + 5.75%	10.34	%	10/5/2029	2,451	—	(47)	(0.01	%)
SM Wellness Holdings, Inc	(6) (13)	First Lien Term Loan	L + 4.75%	9.52	%	4/17/2028	14,815	14,704	14,254	2.72	%
Wellspring Pharmaceutical	(13)	First Lien Term Loan	S + 5.75%	10.53	%	8/22/2028	3,413	3,348	3,350	0.64	%
Wellspring Pharmaceutical (Delayed Draw)	(11)	First Lien Term Loan	S + 5.75%	10.53	%	8/22/2028	1,579	(11)	(29)	(0.01	%)
Total Healthcare & Pharmaceuticals								112,377	109,952	20.94	%

High Tech Industries
Argano, LLC	(6) (13)	First Lien Term Loan	S + 5.50%	9.86	%	6/10/2026	5,691	5,648	5,508	1.05	%
Argano, LLC (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.50%	9.86	%	6/10/2026	2,520	2,520	2,439	0.47	%
Argano, LLC (Delayed Draw) (Incremental)	(6)	First Lien Term Loan	S + 5.50%	9.86	%	6/10/2026	1,722	1,683	1,666	0.32	%
Diligent Corporation	(6) (9)	First Lien Term Loan	L + 6.25%	11.39	%	8/4/2025	12,599	12,570	12,136	2.31	%
Diligent Corporation	(9) (13)	First Lien Term Loan	L + 5.75%	10.52	%	8/4/2025	3,422	3,399	3,269	0.62	%
Diligent Corporation	(9) (13)	First Lien Term Loan	L + 5.75%	10.89	%	8/4/2025	1,491	1,481	1,425	0.27	%
Diligent Corporation (Delayed Draw)	(9)	First Lien Term Loan	L + 6.25%	11.02	%	8/4/2025	170	170	163	0.03	%
Diligent Corporation (Delayed Draw)	(9)	First Lien Term Loan	L + 6.25%	11.02	%	8/4/2025	107	107	103	0.02	%
Eliassen Group LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.34	%	4/14/2028	12,192	12,080	12,021	2.29	%
Eliassen Group LLC (Delayed Draw)	(9) (11)	First Lien Term Loan	S + 5.75%	10.34	%	4/14/2028	2,777	409	377	0.07	%
Exterro	(6) (9) (13)	First Lien Term Loan	L + 5.50%	10.27	%	5/31/2024	9,474	9,435	9,474	1.81	%
Fineline Merger		Subordinated Debt	L + 8.75%	13.52	%	8/22/2028	2,941	2,905	2,926	0.56	%
Go Engineer	(6) (9) (13)	First Lien Term Loan	S + 5.63%	10.21	%	12/21/2027	11,690	11,590	11,260	2.14	%
Go Engineer (Delayed Draw)	(9)	First Lien Term Loan	S + 5.63%	9.98	%	12/21/2027	3,184	3,157	3,066	0.58	%
Infobase Acquisition, Inc.	(13)	First Lien Term Loan	S + 5.50%	10.09	%	6/14/2028	4,375	4,334	4,319	0.82	%
Infobase Acquisition, Inc. (Delayed Draw)	(11)	First Lien Term Loan	S + 5.50%	10.09	%	6/14/2028	721	—	(9)	—	%
ITSavvy LLC	(6) (13)	First Lien Term Loan	S + 5.25%	10.03	%	8/8/2028	7,873	7,797	7,871	1.50	%
ITSavvy LLC (Delayed Draw)	(11)	First Lien Term Loan	S + 5.50%	10.09	%	8/8/2028	2,107	(20)	—	—	%
North Haven CS Acquisition Inc	(6)	First Lien Term Loan	L + 5.25%	10.02	%	1/23/2025	5,857	5,857	5,857	1.12	%
Northern Star Industries Inc	(6)	First Lien Term Loan	L + 4.50%	8.89	%	3/28/2025	3,286	3,275	3,227	0.62	%
Prosci, Inc.	(6)	First Lien Term Loan	L + 4.50%	8.89	%	10/21/2026	4,733	4,695	4,665	0.89	%


Portfolio Company (1) (2)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)

Revalize (Delayed Draw)	(9) (13)	First Lien Term Loan	S + 5.75%	10.34	%	4/15/2027	4,286	4,273	3,985	0.76	%
Revalize (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.75%	10.34	%	4/15/2027	1,101	1,092	1,023	0.19	%
Revalize (Delayed Draw)	(9)	First Lien Term Loan	S + 5.75%	10.34	%	4/15/2027	244	243	227	0.04	%
SmartWave	(6) (13)	First Lien Term Loan	L + 6.00%	10.77	%	11/5/2026	9,309	9,223	8,116	1.55	%
Solve Industrial Motion Group		Subordinated Debt	N/A	10.75	%	6/28/2028	1,763	1,732	1,669	0.32	%
Solve Industrial Motion Group (Delayed Draw)		Subordinated Debt	N/A	10.75	%	6/28/2028	2,019	2,019	1,912	0.36	%
Total High Tech Industries								111,674	108,695	20.71	%

Media: Advertising, Printing & Publishing
Tinuiti	(6) (9) (13)	First Lien Term Loan	L + 4.50%	9.27	%	12/10/2026	2,978	2,953	2,933	0.56	%
Tinuiti (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	L + 4.50%	8.89	%	12/10/2026	1,946	1,945	1,916	0.36	%
Tinuiti (Delayed Draw) (Incremental)	(9) (11)	First Lien Term Loan	L + 4.50%	9.27	%	12/10/2026	9,963	5,935	5,781	1.10	%
Wpromote	(13)	First Lien Term Loan	S + 6.00%	10.36	%	10/23/2028	4,412	4,325	4,326	0.83	%
Wpromote (Delayed Draw)	(11)	First Lien Term Loan	S + 6.00%	10.36	%	10/23/2028	588	(4)	(11)	—	%
Total Media: Advertising, Printing & Publishing								15,154	14,945	2.85	%

Media: Diversified & Production
Corporate Visions	(6) (13)	First Lien Term Loan	L + 4.50%	8.89	%	8/12/2027	2,916	2,893	2,842	0.54	%
Corporate Visions	(6) (13)	First Lien Term Loan	L + 4.50%	8.89	%	8/12/2027	2,563	2,529	2,498	0.48	%
Spectrio II	(6) (9) (13)	First Lien Term Loan	L + 6.00%	10.77	%	12/9/2026	8,123	8,067	7,784	1.48	%
Spectrio II (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	L + 6.00%	10.77	%	12/9/2026	2,886	2,866	2,765	0.53	%
Spectrio II (Delayed Draw)


Maryland						84-3613224
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)
430 Park Avenue, 14th Floor, New York, NY						10022
(Address of principal executive offices)						(Zip Code)


ý			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


¨			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	June 30, 2023		June 30, 2022
Cash and cash equivalents	$	45,448	$	32,963
Restricted cash	50		50
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows	$	45,498	$	33,013