ncdlc-20240630

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 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 statements 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, 2024		December 31, 2023

Assets	(Unaudited)
Investments
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $2,023,384 and $1,666,169, respectively)	$	1,990,856	$	1,641,686
Cash and cash equivalents	70,986		67,395
Restricted cash	50		50


Interest receivable	18,299		17,674
Receivable for investments sold	2,650		3,919

Prepaid expenses	93		13
Other assets	—		127
Total assets	$	2,082,934	$	1,730,864

Liabilities
Secured borrowings (net of $8,029 and $7,941 deferred financing costs, respectively) (See Note 6)	$	1,020,721	$	943,936
Payable for investments purchased	17,790		—
Interest payable	21,292		9,837
Due to adviser for expense support (See Note 5)	—		632

Management fees payable	3,590		3,006
Distributions payable	30,108		22,683
Directors’ fees payable	127		96
Accounts payable and accrued expenses	2,934		2,789
Total liabilities	$	1,096,562	$	982,979

Commitments and contingencies (See Note 7)

Net Assets: (See Note 8)

Common shares, $0.01 par value, 500,000,000 and 500,000,000 shares authorized, 54,705,779 and 41,242,105 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	$	547	$	412
Paid-in-capital in excess of par value	1,019,617		776,719
Total distributable earnings (loss)	(33,792)		(29,246)
Total net assets	$	986,372	$	747,885

Total liabilities and net assets	$	2,082,934	$	1,730,864

Net asset value per share (See Note 9)	$	18.03	$	18.13


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Investment income:
Non-controlled/non-affiliated company investments:
Interest income	$	53,018	$	36,292	$	102,096	$	69,679
Payment-in-kind interest income	1,529		551		3,521		872
Dividend income	33		24		341		40
Other income	509		234		726		470
Total investment income	55,089		37,101		106,684		71,061

Expenses:
Interest and debt financing expenses	18,721		14,298		35,662		27,041
Management fees (See Note 5)	3,590		2,475		6,854		4,781
Incentive fees on net investment income	3,075		—		7,534		—
Professional fees	693		964		1,403		1,554
Directors' fees	127		95		255		191
Administration fees (See Note 5)	484		350		1,026		659
Other general and administrative expenses	466		357		743		528
Total expenses before expense support and Incentive fees waived	27,156		18,539		53,477		34,754
Expense support (See Note 5)	—		(144)		—		(158)
Incentive fees waived (See Note 5)	(3,075)		—		(7,534)		—
Net Expenses after expense support	24,081		18,395		45,943		34,596


Net investment income	31,008		18,706		60,741		36,465

Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	1,017		218		(2,608)		6,699
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated company investments	(12,102)		(4,242)		(8,045)		(15,379)
Income tax (provision) benefit	282		(376)		141		(762)
Total net change in unrealized gain (loss)	(11,820)		(4,618)		(7,904)		(16,141)
Total net realized and unrealized gain (loss) on investments	(10,803)		(4,400)		(10,512)		(9,442)

Net increase (decrease) in net assets resulting from operations	$	20,205	$	14,306	$	50,229	$	27,023

Per share data:
Net investment income per share - basic and diluted	$	0.57	$	0.61	$	1.13	$	1.23
Net increase (decrease) in net assets resulting from operations per share - basic and diluted	$	0.37	$	0.47	$	0.93	$	0.91
Weighted average common shares outstanding - basic and diluted	54,789,044		30,621,009		53,773,698		29,679,378


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Increase (decrease) in net assets resulting from operations:
Net investment income	$	31,008	$	18,706	$	60,741	$	36,465
Net realized gain (loss) on investments	1,017		218		(2,608)		6,699
Net change in unrealized appreciation (depreciation) on investments	(11,820)		(4,618)		(7,904)		(16,141)
Net increase (decrease) in net assets resulting from operations	20,205		14,306		50,229		27,023
Shareholder distributions:
Distributions declared from net investment income	(30,108)		(17,106)		(54,775)		(38,951)
Net increase (decrease) in net assets resulting from shareholder distributions	(30,108)		(17,106)		(54,775)		(38,951)
Capital share transactions:
Issuance of common shares, net	—		39,977		241,657		39,977
Reinvestment of shareholder distributions	3,191		2,776		6,525		4,491
Repurchase of common stock	(5,149)		—		(5,149)		—
Net increase (decrease) in net assets resulting from capital share transactions	(1,958)		42,753		243,033		44,468
Total increase (decrease) in net assets	(11,861)		39,953		238,487		32,540
Net assets, beginning of period	998,233		517,544		747,885		524,957
Net assets, end of period	$	986,372	$	557,497	$	986,372	$	557,497

(dollars in thousands, except share and per share data)


	Six Months Ended June 30,
	2024		2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	50,229	$	27,023

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	(509,305)		(202,017)
Proceeds from principal repayments and sales of investments	154,873		45,361
Payment-in-kind interest	(3,521)		(872)
Amortization of (premium)/accretion of discount, net	(1,870)		(1,533)
Net realized (gain) loss on investments	2,608		(6,699)
Net change in unrealized (appreciation) depreciation on investments	8,045		15,379
Amortization of deferred financing costs	1,960		884
Amortization of offering costs	—		(23)
Changes in operating assets and liabilities:
Due from adviser for expense support	—		282
Interest receivable	(625)		(1,178)
Receivable for investments sold	1,269		(47)

Prepaid expenses	(80)		(59)
Other assets	127		—
Payable for investments purchased	17,790		(56)
Interest payable	11,455		2,509
Due to adviser for expense support	(632)		(46)

Management fees payable	584		263
Directors’ fees payable	31		—

Accounts payable and accrued expenses	145		338
Net cash provided by (used in) operating activities	(266,917)		(120,491)

Cash flows from financing activities:

Proceeds from issuance of common shares	241,657		40,455

Shareholder distributions	(40,825)		(31,680)
Repurchases of common shares	(5,149)		—
Proceeds from secured borrowings	546,250		179,000
Repayments of secured borrowings	(469,377)		(59,000)
Payments of deferred financing costs	(2,048)		(2,106)
Net cash provided by (used in) financing activities	270,508		126,669

Net increase (decrease) in Cash and Cash Equivalents and Restricted Cash	3,591		6,178
Cash and Cash Equivalents and Restricted Cash, beginning of period	67,445		39,320
Cash and Cash Equivalents and Restricted Cash, end of period	$	71,036	$	45,498

Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$	22,247	$	23,648
Cash paid during the period for excise taxes	$	6	$	—


Supplemental disclosure of non-cash flow Information:
Reinvestment of shareholder distributions	$	6,525	$	4,491


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) (12) (13)	First Lien Term Loan	S + 4.75%	10.08	%	10/31/2025	$	14,585	$	14,541	$	14,532	1.47	%
AEgis Technologies	(6) (12) (13)	First Lien Term Loan	S + 4.75%	10.08	%	10/31/2025	3,030		3,004		3,019		0.31	%
Arotech	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.68	%	10/22/2026	15,043		14,418		15,040		1.52	%
Arotech (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 6.25%	11.69	%	10/22/2026	732		703		732		0.07	%
Loc Performance Products	(6)	First Lien Term Loan	S + 5.25%	10.69	%	12/22/2026	6,520		6,474		6,374		0.65	%
Precision Aviation Group	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.83	%	12/21/2029	14,964		14,683		14,879		1.51	%
Precision Aviation Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	10.83	%	12/21/2029	4,961		753		771		0.08	%
Turbine Engine Specialist, Inc	(12)	Subordinated Debt	S + 9.50%	14.94	%	3/1/2029	2,543		2,486		2,536		0.26	%
Valkyrie	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,851		2,812		2,783		0.28	%
Total Aerospace & Defense									59,874		60,666		6.15	%

Automotive
Covercraft	(12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	7,506		7,411		6,791		0.69	%
High Bar Brands	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		6/19/2030	2,088		2,040		2,059		0.21	%
High Bar Brands (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		6/19/2030	596		(7)		(8)		—	%
JEGS Automotive	(6) (16)	First Lien Term Loan	S + 6.00%	11.47	%	12/22/2027	3,988		3,963		2,650		0.27	%
OEP Glass Purchaser	(6) (13)	First Lien Term Loan	S + 5.00%	10.48	%	4/18/2028	12,563		12,478		12,563		1.27	%
Randys Holdings, Inc	(6) (9) (12) (13)	First Lien Term Loan	S + 6.25%	11.56	%	11/1/2028	11,081		10,906		10,952		1.11	%
Randys Holdings, Inc (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.25%	11.56	%	11/1/2028	3,749		689		645		0.07	%
S&S Truck Parts	(6)	First Lien Term Loan	S + 4.75%	10.48	%	3/1/2029	6,823		6,773		6,752		0.68	%
S&S Truck Parts	(6)	First Lien Term Loan	S + 4.75%	10.48	%	3/1/2029	1,153		1,145		1,141		0.12	%
S&S Truck Parts (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.50	%	3/1/2029	98		98		97		0.01	%
S&S Truck Parts (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.48	%	3/1/2029	1,716		1,716		1,698		0.17	%
S&S Truck Parts (Incremental)	(6) (12) (13)	First Lien Term Loan	S + 5.00%	10.35	%	3/1/2029	20,134		19,935		19,925		2.02	%
Total Automotive									67,147		65,265		6.62	%


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
Coding Solutions Acquisitions	(6) (9)	First Lien Term Loan	S + 5.50%	10.84	%	5/11/2028	6,399	6,354	6,353	0.64	%
Coding Solutions Acquisitions (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.50%	10.84	%	5/11/2028	1,956	1,956	1,942	0.20	%
Long Term Care Group	(6) (9) (12)	First Lien Term Loan	S + 4.62%	10.21% (Cash) 2.38% (PIK)		9/8/2027	7,055	7,020	6,220	0.63	%
Patriot Growth Insurance Service (Delayed Draw) (Incremental)	(9) (12)	First Lien Term Loan	S + 5.00%	10.48	%	10/16/2028	7,136	7,084	7,040	0.71	%
Risk Strategies (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.50%	10.98	%	11/1/2029	14,794	14,794	14,617	1.48	%
Vensure Employer Services	(6) (13)	First Lien Term Loan	S + 4.75%	10.08	%	3/26/2027	14,581	14,561	14,543	1.47	%
World Insurance Associates	(6) (9) (12)	First Lien Term Loan	S + 6.00%	11.33	%	4/3/2028	14,806	14,796	14,767	1.50	%
Total Banking, Finance, Insurance, Real Estate								66,565	65,482	6.63	%

Beverage, Food & Tobacco
Bakeovations Intermediate, LLC (d/b/a Commercial Bakeries)	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 5.75%	11.08	%	9/25/2029	17,196	16,892	16,977	1.72	%
Bakeovations Intermediate, LLC (d/b/a Commercial Bakeries) (Incremental)	(6) (7) (10)	First Lien Term Loan	S + 5.75%	11.08	%	9/25/2029	2,034	2,016	2,009	0.20	%
Bardstown PPC Holdings LLC	(12)	Subordinated Debt	S + 7.75%	13.08	%	8/30/2027	9,300	9,171	9,199	0.93	%
Death Wish Coffee	(6) (9) (13)	First Lien Term Loan	S + 5.00%	10.43	%	9/28/2027	9,750	9,696	9,750	0.99	%
Dessert Holdings	(6) (9) (12)	Subordinated Debt	S + 7.25%	12.71	%	6/8/2029	9,000	8,885	8,123	0.82	%
Dessert Holdings	(13)	First Lien Term Loan	S + 4.00%	9.46	%	6/9/2028	5,559	5,415	5,410	0.55	%
Fresh Edge	(12)	Subordinated Debt	S + 4.50%	9.76% (Cash) 5.13% (PIK)		4/3/2029	3,954	3,880	3,871	0.39	%
Fresh Edge (Incremental)	(12)	Subordinated Debt	S + 4.50%	9.76% (Cash) 5.13% (PIK)		4/3/2029	790	773	773	0.08	%
Fresh Edge (Incremental)	(12)	Subordinated Debt	S + 4.50%	9.76% (Cash) 5.13% (PIK)		4/3/2029	934	913	915	0.09	%
Handgards, LLC	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.83	%	4/10/2031	30,000	29,707	29,722	3.02	%
KSLB Holdings LLC	(13)	First Lien Term Loan	S + 4.50%	9.93	%	7/30/2025	2,843	2,833	2,749	0.28	%
Palmetto Acquisitionco, Inc.	(6) (12) (13)	First Lien Term Loan	S + 5.75%	11.08	%	9/18/2029	13,248	13,038	13,037	1.32	%
Palmetto Acquisitionco, Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.08	%	9/18/2029	4,834	1,772	1,711	0.17	%
Rise Baking	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.69	%	8/13/2027	14,625	14,500	14,747	1.50	%
Rise Baking (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	10.94	%	8/13/2027	4,432	4,414	4,381	0.44	%
Rise Baking (Incremental)	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.94	%	8/13/2027	10,846	10,793	10,722	1.09	%
Summit Hill Foods	(6)	First Lien Term Loan	S + 6.00%	11.35	%	11/29/2029	9,377	9,248	9,341	0.95	%
Sunny Sky Products	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.83	%	12/23/2028	7,058	6,994	6,994	0.71	%


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)

Sunny Sky Products (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.83	%	12/23/2028	1,773	—	(16)	—	%
Watermill Express (Delayed Draw) (Incremental)	(9) (12)	First Lien Term Loan	S + 5.75%	11.22	%	7/5/2029	3,178	3,178	3,170	0.32	%
Watermill Express (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.23	%	7/5/2029	6,343	6,284	6,327	0.64	%
Watermill Express, LLC	(6) (9)	First Lien Term Loan	S + 5.75%	11.23	%	7/5/2029	3,238	3,221	3,230	0.33	%
Watermill Express, LLC (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.75%	11.23	%	7/5/2029	313	313	312	0.03	%
Total Beverage, Food & Tobacco								163,936	163,454	16.57	%

Capital Equipment
Crete Mechanical Group	(6)	First Lien Term Loan	S + 4.75%	10.08	%	5/19/2028	4,798	4,766	4,818	0.49	%
Crete Mechanical Group (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.08	%	5/19/2028	2,831	2,797	2,842	0.29	%
Crete Mechanical Group (Delayed Draw)	(12)	First Lien Term Loan	S + 4.75%	10.32	%	5/19/2028	7,114	7,114	7,142	0.72	%
EFC Holdings, LLC	(12)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,207	3,132	3,204	0.32	%
E-Technologies	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.84	%	4/9/2030	7,313	7,242	7,246	0.73	%
Firstcall Mechanical Group	(12) (13)	First Lien Term Loan	S + 4.75%	10.09	%	6/27/2030	10,000	9,900	9,900	1.00	%
Firstcall Mechanical Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	10.09	%	6/27/2030	20,000	(25)	(199)	(0.02	%)
Heartland Home Services	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.34	%	12/15/2026	6,434	6,401	6,170	0.63	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.34	%	12/15/2026	5,579	5,564	5,350	0.54	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.43	%	12/15/2026	2,558	2,558	2,453	0.25	%
Hyperion	(12) (13) (14)	First Lien Term Loan	S + 4.50%	10.11	%	8/30/2028	2,641	2,638	2,579	0.26	%
MSHC Inc	(6) (9)	First Lien Term Loan	S + 4.00%	9.59	%	10/29/2027	7,959	7,978	7,969	0.81	%
Ovation Holdings, Inc.	(6) (13)	First Lien Term Loan	S + 6.25%	11.73	%	2/5/2029	7,995	7,852	7,987	0.81	%
Ovation Holdings, Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.73	%	2/5/2029	1,891	1,529	1,546	0.16	%
Precision Surfacing	(12)	First Lien Term Loan	N/A	15.00	%	10/13/2024	713	713	713	0.07	%
PT Intermediate Holdings III, LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 3.25%	8.58	%	4/9/2030	12,035	11,996	12,014	1.22	%
PT Intermediate Holdings III, LLC (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 3.25%	8.58	%	4/9/2030	1,238	(1)	(2)	—	%
Rhino Tool House	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.73	%	4/4/2029	8,013	7,875	8,025	0.81	%
Rhino Tool House	(12)	First Lien Term Loan	S + 5.25%	10.73	%	4/4/2029	748	741	749	0.08	%
Rhino Tool House (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.72	%	4/4/2029	1,876	1,834	1,843	0.19	%
Total Capital Equipment								92,604	92,349	9.36	%


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)

Chemicals, Plastics, & Rubber
Ascensus Specialties	(6) (9) (13)	First Lien Term Loan	S + 4.35%	9.69	%	6/30/2028	9,681	9,554	8,246	0.84	%
Boulder Scientific Company LLC	(6)	First Lien Term Loan	S + 5.00%	10.49	%	12/28/2025	2,052	2,061	1,968	0.20	%
Chroma Color Corporation (dba Chroma Color)	(6)	First Lien Term Loan	S + 6.00%	11.33	%	4/23/2029	6,282	6,176	6,234	0.63	%
Chroma Color Corporation (dba Chroma Color) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.33	%	4/23/2029	1,379	(11)	(10)	—	%
Spartech	(6) (9) (12) (13) (14)	First Lien Term Loan	S + 4.75%	10.06	%	5/6/2028	14,693	14,633	11,433	1.16	%
Total Chemicals, Plastics, & Rubber								32,413	27,871	2.83	%

Construction & Building
Allstar Holdings	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	2,146	2,091	2,089	0.21	%
Allstar Holdings (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	4,087	2,850	2,794	0.28	%
Allstar Holdings (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	6,188	(82)	(165)	(0.02	%)
Erie Construction	(6) (13)	First Lien Term Loan	S + 4.75%	10.31	%	7/30/2027	9,878	9,820	9,816	1.00	%
Gannett Fleming	(6) (13)	First Lien Term Loan	S + 6.25%	11.65	%	12/20/2028	9,850	9,692	9,905	1.00	%
ICE USA Infrastructure	(6) (13)	First Lien Term Loan	S + 5.75%	11.08	%	3/15/2030	6,605	6,541	6,541	0.66	%
MEI Rigging & Crating	(6) (12) (13)	First Lien Term Loan	S + 5.00%	10.34	%	6/29/2029	11,374	11,173	11,376	1.16	%
MEI Rigging & Crating (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.34	%	6/29/2029	1,814	(8)	—	—	%
RMA Companies (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 5.75%	11.19	%	12/30/2027	4,605	4,597	4,578	0.46	%
RMA Companies (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.19	%	12/30/2027	3,134	338	327	0.03	%
Royal Holdco Corporation (Incremental)	(6)	First Lien Term Loan	S + 5.75%	11.19	%	12/30/2027	3,102	3,063	3,084	0.31	%
Sciens Building Solutions, LLC	(6) (9)	First Lien Term Loan	S + 5.75%	11.19	%	12/15/2027	9,267	9,149	9,238	0.95	%
Sciens Building Solutions, LLC (Delayed Draw)	(6) (9) (12) (13)	First Lien Term Loan	S + 5.75%	11.15	%	12/15/2027	4,894	4,865	4,879	0.49	%
Tencate	(6) (9) (12) (13) (14)	First Lien Term Loan	S + 4.00%	9.33	%	2/21/2031	7,034	7,002	7,075	0.72	%
Tencate (Delayed Draw)	(9) (11) (12) (14)	First Lien Term Loan	S + 4.00%	9.33	%	2/21/2031	1,540	—	9	—	%
WSB Engineering Holdings Inc.	(6) (12)	First Lien Term Loan	S + 6.00%	11.10	%	8/31/2029	6,487	6,400	6,399	0.65	%
WSB Engineering Holdings Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.08	%	8/31/2029	4,342	3,007	2,976	0.30	%
Total Construction & Building								80,498	80,921	8.20	%


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) (14)	First Lien Term Loan	S + 4.50%	9.94	%	6/30/2025	5,637	5,619	5,043	0.51	%
SmartSign	(6) (13)	First Lien Term Loan	S + 5.50%	10.94	%	9/7/2028	9,825	9,753	9,825	0.99	%
SmartSign	(6)	First Lien Term Loan	S + 5.75%	11.18	%	9/7/2028	5,000	4,915	5,000	0.51	%
Total Consumer Goods: Durable								20,287	19,868	2.01	%

Consumer Goods: Non-durable
Arcadia Consumer Health	(6) (9) (13)	First Lien Term Loan	S + 4.50%	9.93	%	9/10/2027	12,540	12,468	12,490	1.27	%
Arcadia Consumer Health (Incremental)	(6) (9)	First Lien Term Loan	S + 5.75%	11.18	%	9/10/2027	1,926	1,896	1,945	0.20	%
Elevation Labs	(6) (13)	First Lien Term Loan	S + 5.75%	11.00	%	6/30/2028	6,755	6,707	6,725	0.68	%
Elevation Labs (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.18	%	6/30/2028	3,123	914	922	0.09	%
FoodScience	(6) (12)	First Lien Term Loan	S + 5.50%	11.08	%	3/1/2027	14,549	14,439	14,018	1.42	%
Market Performance Group	(6) (13)	First Lien Term Loan	S + 5.25%	10.58	%	1/8/2030	12,588	12,471	12,714	1.29	%
Market Performance Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.58	%	1/8/2030	3,086	—	31	—	%
Protective Industrial Products (“PIP”)	(6) (13)	First Lien Term Loan	S + 4.00%	9.46	%	12/29/2027	9,099	9,081	9,076	0.92	%
Ultima Health Holdings, LLC	(12)	Subordinated Debt	N/A	11.00	%	3/12/2029	1,747	1,721	1,751	0.18	%
Total Consumer Goods: Non-durable								59,697	59,672	6.05	%

Containers, Packaging & Glass
B2B Packaging	(6) (13)	First Lien Term Loan	S + 6.75%	12.31	%	10/7/2026	14,621	14,597	14,058	1.43	%
B2B Packaging (Delayed Draw)	(6)	First Lien Term Loan	S + 6.75%	12.33	%	10/7/2026	116	114	111	0.01	%
Five Star Packing	(6) (13) (14)	First Lien Term Loan	S + 4.25%	9.58	%	5/5/2029	7,538	7,452	6,996	0.71	%
Good2Grow	(6) (13)	First Lien Term Loan	S + 4.50%	10.00	%	12/1/2027	9,265	9,207	9,134	0.93	%
Good2Grow	(6) (12) (13)	First Lien Term Loan	S + 5.50%	11.00	%	12/1/2027	6,330	6,249	6,393	0.65	%
Good2Grow (Incremental)	(12) (13)	First Lien Term Loan	S + 4.75%	10.25	%	12/1/2027	14,338	14,200	14,240	1.44	%
Oliver Packaging	(12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		1/6/2029	2,510	2,475	2,349	0.24	%
Online Labels Group	(13)	First Lien Term Loan	S + 5.25%	10.58	%	12/19/2029	3,312	3,281	3,312	0.34	%
Online Labels Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.58	%	12/19/2029	403	—	—	—	%
Online Labels Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.58	%	12/19/2029	403	—	—	—	%
Proampac	(9) (12) (13) (14)	First Lien Term Loan	S + 4.00%	9.32%		9/15/2028	4,503	4,503	4,519	0.46	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	11.04	%	12/17/2025	2,968	2,956	2,931	0.30	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	11.04	%	12/17/2025	7,238	7,206	7,148	0.72	%


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)

Specialized Packaging Group (Incremental)	(7) (10) (13)	First Lien Term Loan	S + 6.25%	11.79	%	12/17/2025	4,387	4,345	4,377	0.44	%
Specialized Packaging Group (Incremental)	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 6.25%	11.79	%	12/17/2025	6,860	6,786	6,844	0.69	%
Specialized Packaging Group (Incremental)	(7) (12)	First Lien Term Loan	S + 5.75%	11.17	%	12/17/2025	3,307	3,276	3,271	0.33	%
Total Containers, Packaging & Glass								86,647	85,683	8.69	%

Energy: Electricity
Insulation Technology Group	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 5.50%	10.84	%	6/25/2030	22,466	22,242	22,246	2.26	%
Insulation Technology Group (Delayed Draw)	(7) (10) (11) (12)	First Lien Term Loan	S + 5.50%	10.84	%	6/25/2030	5,912	—	(58)	(0.01	%)
MGM Transformer Company	(6) (12) (13)	First Lien Term Loan	S + 6.00%	10.80	%	10/31/2029	23,494	23,332	23,275	2.36	%
MGM Transformer Company (Delayed Draw)	(12)	First Lien Term Loan	S + 5.50%	10.85	%	10/31/2029	6,388	6,374	6,328	0.64	%
National Power	(6) (12)	First Lien Term Loan	S + 6.00%	11.10	%	10/22/2029	5,646	5,568	5,624	0.57	%
National Power (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.10	%	10/22/2029	3,051	(7)	(12)	—	%
Total Energy: Electricity								57,509	57,403	5.82	%

Environmental Industries
Contract Land Staff	(6) (12) (13)	First Lien Term Loan	S + 5.00%	10.33	%	3/27/2030	7,545	7,471	7,472	0.76	%
Contract Land Staff (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.33	%	3/27/2030	3,025	(7)	(29)	—	%
Impact Environmental Group	(6) (12)	First Lien Term Loan	S + 5.00%	10.43	%	3/23/2029	6,742	6,625	6,741	0.68	%
Impact Environmental Group (Delayed Draw)	(12)	First Lien Term Loan	S + 5.00%	10.43	%	3/23/2029	3,150	3,135	3,149	0.32	%
Impact Environmental Group (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 5.00%	10.43	%	3/23/2029	6,808	2,851	2,880	0.29	%
Impact Environmental Group (Incremental)	(12)	First Lien Term Loan	S + 5.00%	10.43	%	3/23/2029	1,727	1,697	1,727	0.18	%
Nutrition 101 Buyer LLC (a/k/a 101, Inc.)	(6)	First Lien Term Loan	S + 5.25%	10.68	%	8/31/2028	6,614	6,568	6,343	0.64	%
Orion Group FM Holdings, LLC (dba Leo Facilities Maintenance)	(6) (12)	First Lien Term Loan	S + 6.25%	11.51	%	7/3/2029	8,507	8,392	8,396	0.85	%


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)

Orion Group FM Holdings, LLC (dba Leo Facilities Maintenance) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.58	%	7/3/2029	6,429	4,744	4,673	0.47	%
The Facilities Group	(6) (9)	First Lien Term Loan	S + 5.75%	11.18	%	11/30/2027	4,847	4,819	4,787	0.49	%
The Facilities Group	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.17	%	11/30/2027	9,001	8,924	8,889	0.90	%
The Facilities Group (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.75%	11.18	%	11/30/2027	4,927	4,927	4,866	0.49	%
The Facilities Group (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	11.19	%	11/30/2027	5,028	167	105	0.01	%
Total Environmental Industries								60,313	59,999	6.08	%

Healthcare & Pharmaceuticals
Affinity Hospice	(6) (12)	First Lien Term Loan	S + 4.75%	10.18	%	12/17/2027	7,832	7,782	6,907	0.70	%
Anne Arundel	(12) (16)	Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	3,282	3,257	245	0.02	%
Anne Arundel	(12) (16)	Subordinated Debt	N/A	11.00% (PIK)		4/16/2026	1,972	1,961	660	0.07	%
Anne Arundel	(12)	First Lien Term Loan	S + 2.75%	8.08% (Cash) 4.25% (PIK)		1/15/2026	516	516	516	0.05	%
Anne Arundel (Delayed Draw)	(11) (12) (16)	Subordinated Debt	N/A	11.00% (PIK)		4/16/2026	2,396	2,024	435	0.04	%
Forefront Dermatology	(6) (9) (14)	First Lien Term Loan	S + 4.25%	9.58	%	3/30/2029	3,298	3,256	3,204	0.32	%
Genesee Scientific	(6) (9)	First Lien Term Loan	S + 5.75%	11.19	%	9/30/2027	5,928	5,896	5,526	0.56	%
Genesee Scientific (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	11.09	%	9/30/2027	1,552	1,552	1,447	0.15	%
GHR Healthcare	(6) (9)	First Lien Term Loan	S + 5.00%	10.44	%	12/9/2027	6,369	6,330	6,096	0.62	%
GHR Healthcare (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.00%	10.44	%	12/9/2027	1,992	1,992	1,907	0.19	%
GHR Healthcare (Delayed Draw) (Incremental)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	10.44	%	12/9/2027	1,946	—	(83)	(0.01	%)
GHR Healthcare (Delayed Draw) (Incremental)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	10.44	%	12/9/2027	648	—	(28)	—	%
GHR Healthcare (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 5.00%	10.48	%	12/9/2027	4,958	4,887	4,745	0.48	%
GHR Healthcare (Incremental)	(9) (12) (13)	First Lien Term Loan	S + 5.00%	10.44	%	12/9/2027	8,088	8,010	7,741	0.78	%
GHR Healthcare (Incremental)	(9) (12) (13)	First Lien Term Loan	S + 5.00%	10.44	%	12/9/2027	3,761	3,724	3,599	0.36	%
Health Management Associates	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.70	%	3/30/2029	8,264	8,123	8,242	0.84	%
Health Management Associates (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.70	%	3/30/2029	1,497	714	738	0.07	%
Heartland Veterinary Partners LLC (Delayed Draw) (Incremental)	(11) (12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	3,600	—	(58)	(0.01	%)
Heartland Veterinary Partners LLC (Delayed Draw) (Incremental)	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	9,667	9,667	9,511	0.96	%
Heartland Veterinary Partners LLC (Incremental)	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	1,933	1,910	1,902	0.19	%
HemaSource Inc.	(12)	Subordinated Debt	N/A	8.50% (Cash) 5.00% (PIK)		2/28/2030	5,292	5,162	5,217	0.53	%
InfuCare RX	(6) (12) (13)	First Lien Term Loan	S + 4.50%	9.93	%	1/4/2028	9,248	9,190	9,248	0.94	%


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)

MDC Intermediate Holdings II, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	1,769	1,734	1,713	0.17	%
MDC Intermediate Holdings II, LLC (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	726	465	448	0.05	%
Midwest Eye Consultants	(6) (13)	First Lien Term Loan	S + 4.50%	9.94	%	8/20/2027	8,975	8,926	8,965	0.91	%
Prompt Care (Delayed Draw) (Incremental)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.44	%	9/1/2027	2,875	1,437	1,425	0.14	%
PromptCare	(6) (9)	First Lien Term Loan	S + 6.00%	11.44	%	9/1/2027	8,162	8,099	8,127	0.82	%
PromptCare (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 6.00%	11.40	%	9/1/2027	1,271	1,267	1,266	0.13	%
Quorum Health Resources, LLC	(6) (13)	First Lien Term Loan	S + 5.75%	10.79	%	5/28/2027	7,640	7,595	7,429	0.75	%
Quorum Health Resources, LLC (Delayed Draw) (Incremental)	(6) (10)	First Lien Term Loan	S + 6.25%	10.68	%	5/28/2027	3,231	3,225	3,142	0.32	%
Quorum Health Resources, LLC (Incremental)	(6) (10) (13)	First Lien Term Loan	S + 5.25%	10.69	%	5/28/2027	3,231	3,190	3,142	0.32	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6) (12) (13)	First Lien Term Loan	S + 6.00%	11.36	%	9/19/2028	7,833	7,650	7,794	0.79	%
Sandlot Buyer, LLC (Prime Time Healthcare) (Incremental)	(12) (13)	First Lien Term Loan	S + 6.00%	11.27	%	9/19/2028	9,866	9,689	9,816	1.00	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners)	(6) (13)	First Lien Term Loan	S + 5.75%	10.94	%	10/5/2029	7,436	7,375	7,292	0.74	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	10.93	%	10/5/2029	2,435	1,550	1,503	0.15	%
SM Wellness Holdings, Inc	(6) (12) (13)	First Lien Term Loan	S + 4.50%	10.09	%	4/17/2028	14,590	14,511	14,328	1.45	%
Smile Brands	(12)	Subordinated Debt	S + 9.50%	14.91% (PIK)		4/12/2028	10,721	10,661	9,143	0.93	%
Southern Veterinary Partners	(9) (13) (14)	First Lien Term Loan	S + 3.75%	9.09	%	10/5/2027	4,772	4,766	4,788	0.49	%
Team Services Group	(6)	First Lien Term Loan	S + 5.00%	10.58%		12/20/2027	6,633	6,602	6,603	0.67	%
Thorne HealthTech	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.83	%	10/16/2030	10,599	10,501	10,619	1.08	%
TIDI Products	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.84	%	12/19/2029	15,445	15,303	15,548	1.58	%
TIDI Products (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.84	%	12/19/2029	4,085	—	27	—	%
US Fertility	(12)	Subordinated Debt	N/A	13.75% (PIK)		6/21/2028	12,831	12,554	12,661	1.28	%
VMG Health	(6) (13)	First Lien Term Loan	S + 5.00%	10.33%		4/16/2030	15,932	15,776	15,783	1.61	%
Wellspring Pharmaceutical	(6)	First Lien Term Loan	S + 5.75%	11.11	%	8/22/2028	3,361	3,311	3,344	0.34	%
Wellspring Pharmaceutical (Delayed Draw)	(12)	First Lien Term Loan	S + 5.75%	11.11	%	8/22/2028	1,563	1,554	1,555	0.16	%
Wellspring Pharmaceutical (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 6.00%	11.33	%	8/22/2028	3,756	(14)	12	—	%
Wellspring Pharmaceutical (Incremental)	(6) (12) (13)	First Lien Term Loan	S + 6.00%	11.33	%	8/22/2028	1,240	1,219	1,244	0.13	%
Young Innovations	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.08	%	12/3/2029	16,469	16,320	16,316	1.66	%
Young Innovations (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	11.08	%	12/3/2029	3,448	—	(32)	—	%
Total Healthcare & Pharmaceuticals								261,219	251,718	25.52	%


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)

High Tech Industries
Acclaim MidCo, LLC (dba ClaimLogiQ)	(6) (12)	First Lien Term Loan	S + 6.00%	11.33	%	6/13/2029	7,981	7,840	7,954	0.81	%
Acclaim MidCo, LLC (dba ClaimLogiQ) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.33	%	6/13/2029	3,225	(13)	(11)	—	%
Ahead Data Blue LLC	(6) (14)	First Lien Term Loan	S + 4.25%	9.58	%	2/1/2031	5,118	5,071	5,141	0.52	%
Ahead Data Blue LLC	(13) (14)	First Lien Term Loan	S + 3.75%	9.08	%	2/1/2031	4,870	4,858	4,892	0.50	%
Argano, LLC	(6)	First Lien Term Loan	S + 6.25%	12.23	%	6/10/2026	5,605	5,579	5,605	0.57	%
Argano, LLC (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 6.25%	12.23	%	6/10/2026	2,482	2,482	2,482	0.25	%
Argano, LLC (Delayed Draw) (Incremental)	(6)	First Lien Term Loan	S + 6.25%	12.23	%	6/10/2026	1,696	1,673	1,696	0.17	%
Diligent Corporation	(9) (11) (12)	First Lien Term Loan	S + 5.00%	10.34	%	8/2/2030	3,830	(19)	(17)	—	%
Diligent Corporation	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	10.34	%	8/2/2030	3,830	3,811	3,813	0.39	%
Diligent Corporation	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	10.34	%	8/2/2030	22,340	22,229	22,241	2.25	%
Eliassen Group LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.08	%	4/14/2028	12,008	11,925	12,008	1.22	%
Eliassen Group LLC (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	11.08	%	4/14/2028	864	863	864	0.09	%
Evergreen Services Group II	(6) (9) (12) (13)	First Lien Term Loan	S + 5.75%	11.08	%	10/4/2030	16,075	15,850	16,282	1.64	%
Evergreen Services Group II (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 6.00%	11.08	%	10/4/2030	12,993	12,965	13,160	1.33	%
Exterro	(6) (13)	First Lien Term Loan	S + 5.50%	11.00	%	6/1/2027	9,474	9,474	9,531	0.97	%
Fineline Merger	(12)	Subordinated Debt	S + 8.75%	14.35	%	8/19/2028	2,453	2,430	2,453	0.25	%
Go Engineer	(6) (9) (13)	First Lien Term Loan	S + 5.38%	10.86	%	12/21/2027	11,513	11,439	11,513	1.17	%
Go Engineer (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.38%	10.86	%	12/21/2027	3,136	3,116	3,136	0.32	%
Infobase Acquisition, Inc.	(6)	First Lien Term Loan	S + 5.50%	11.01	%	6/14/2028	4,309	4,278	4,309	0.44	%
ITSavvy LLC	(6)	First Lien Term Loan	S + 5.25%	10.75	%	8/8/2028	7,754	7,699	7,754	0.79	%
ITSavvy LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.73	%	8/8/2028	417	256	259	0.03	%
North Haven CS Acquisition Inc	(6)	First Lien Term Loan	S + 5.50%	10.97	%	1/23/2025	5,752	5,752	5,774	0.59	%
North Haven CS Acquisition Inc (Incremental)	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.97	%	1/22/2027	22,299	22,100	22,384	2.27	%
Prosci, Inc.	(6)	First Lien Term Loan	S + 4.25%	9.69	%	10/21/2026	4,733	4,709	4,733	0.48	%
Quickbase	(12) (13)	First Lien Term Loan	S + 4.00%	9.33	%	10/2/2028	6,337	6,309	6,306	0.64	%
Revalize (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.23	%	4/15/2027	4,221	4,213	3,956	0.40	%
Revalize (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.75%	11.23	%	4/15/2027	1,084	1,078	1,016	0.10	%
Revalize (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	11.23	%	4/15/2027	244	243	229	0.02	%
SmartWave	(6) (12)	First Lien Term Loan	S + 6.00%	11.48	%	11/5/2026	8,917	8,861	6,720	0.68	%
Solve Industrial Motion Group	(12)	Subordinated Debt	N/A	5.00% (Cash) 8.00% (PIK)		6/30/2028	1,868	1,844	1,744	0.18	%
Solve Industrial Motion Group	(12)	Subordinated Debt	N/A	5.00% (Cash) 8.00% (PIK)		6/30/2028	801	789	760	0.08	%


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)

Solve Industrial Motion Group (Delayed Draw)	(12)	Subordinated Debt	N/A	5.00% (Cash) 8.00% (PIK)		6/30/2028	2,140	2,140	1,998	0.20	%
Velosio	(6) (9) (13)	First Lien Term Loan	S + 5.25%	10.56	%	3/1/2030	6,232	6,173	6,172	0.63	%
Velosio (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.25%	10.56	%	3/1/2030	1,284	—	(12)	—	%
Total High Tech Industries								198,017	196,845	19.98	%

Media: Advertising, Printing & Publishing
Tinuiti	(6) (9)	First Lien Term Loan	S + 5.25%	10.68	%	12/10/2026	2,933	2,916	2,844	0.29	%
Tinuiti (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.25%	10.68	%	12/10/2026	1,917	1,916	1,859	0.19	%
Tinuiti (Delayed Draw) (Incremental)	(6) (9) (12)	First Lien Term Loan	S + 5.25%	10.68	%	12/10/2026	9,813	9,813	9,517	0.96	%
Wpromote	(6) (13)	First Lien Term Loan	S + 5.75%	11.18	%	10/23/2028	4,357	4,289	4,362	0.44	%
Wpromote (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.18	%	10/23/2028	588	(3)	1	—	%
Total Media: Advertising, Printing & Publishing								18,931	18,583	1.88	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,615	3,563	3,456	0.35	%
Corporate Visions	(6)	First Lien Term Loan	S + 4.50%	9.93	%	8/12/2027	2,525	2,500	2,308	0.23	%
Corporate Visions	(6)	First Lien Term Loan	S + 4.50%	9.93	%	8/12/2027	2,872	2,856	2,625	0.27	%
Spectrio II	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.35	%	12/9/2026	8,204	8,169	7,539	0.75	%
Spectrio II (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 6.00%	11.35	%	12/9/2026	2,915	2,897	2,678	0.27	%
Spectrio II (Delayed Draw)	(9) (13)	First Lien Term Loan	S + 6.00%	11.35	%	12/9/2026	444	443	406	0.04	%
Total Media: Diversified & Production								20,428	19,012	1.91	%

Retail
Syndigo	(6)	First Lien Term Loan	S + 4.50%	9.96	%	12/15/2027	5,805	5,818	5,772	0.59	%
Total Retail								5,818	5,772	0.59	%

Services: Business
ALKU Intermediate Holdings, LLC	(12) (13)	First Lien Term Loan	S + 6.25%	11.59	%	5/23/2029	4,496	4,418	4,538	0.46	%
Apex Companies Holdings, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		1/31/2029	4,014	3,936	4,004	0.41	%
Apex Companies Holdings, LLC (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		1/31/2029	1,085	72	80	0.01	%
Aramsco	(6) (9) (14)	First Lien Term Loan	S + 4.75%	10.08	%	10/10/2030	1,699	1,699	1,705	0.17	%


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)

Aramsco (Delayed Draw)	(9) (11) (12) (14)	First Lien Term Loan	S + 4.75%	10.08	%	10/10/2030	297	—	1	—	%
ARMstrong	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.68	%	10/8/2029	11,390	11,233	11,343	1.15	%
ARMstrong (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.65	%	10/8/2029	3,847	234	244	0.02	%
Bounteous	(6) (12) (13)	First Lien Term Loan	S + 4.75%	10.20	%	8/2/2027	5,320	5,289	5,320	0.54	%
Bounteous	(6) (12)	First Lien Term Loan	S + 4.75%	10.20	%	8/2/2027	2,177	2,165	2,177	0.22	%
Bounteous (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 4.75%	10.20	%	8/2/2027	2,753	2,739	2,753	0.28	%
Bounteous (Delayed Draw)	(12)	First Lien Term Loan	S + 5.00%	10.20	%	8/2/2027	3,558	3,558	3,558	0.36	%
Bullhorn Inc	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.34	%	10/1/2029	13,671	13,593	13,721	1.39	%
BusinesSolver	(6) (9)	First Lien Term Loan	S + 5.50%	10.93	%	12/1/2027	7,702	7,653	7,702	0.78	%
BusinesSolver (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.93	%	12/1/2027	1,148	272	275	0.03	%
Career Now	(12)	Subordinated Debt	N/A	13.00% (PIK)		3/30/2027	3,505	3,469	2,445	0.25	%
Cornerstone Advisors of Arizona LLC	(6)	First Lien Term Loan	S + 5.50%	10.83	%	9/24/2026	307	305	307	0.03	%
Cornerstone Advisors of Arizona LLC	(6)	First Lien Term Loan	S + 5.50%	10.83	%	9/24/2026	2,283	2,273	2,283	0.23	%
Cornerstone Advisors of Arizona LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 5.50%	10.86	%	9/24/2026	209	209	209	0.02	%
Cornerstone Advisors of Arizona, LLC (Incremental)	(6)	First Lien Term Loan	S + 5.50%	10.93	%	9/24/2026	3,440	3,410	3,440	0.35	%
CrossCountry Consulting	(6) (9)	First Lien Term Loan	S + 4.75%	10.08	%	6/1/2029	8,133	8,007	8,093	0.82	%
CrossCountry Consulting (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 4.75%	10.08	%	6/1/2029	3,320	(23)	(16)	—	%
D&H United Fueling Solutions	(6) (13)	First Lien Term Loan	S + 5.50%	10.74	%	9/15/2028	7,453	7,340	7,273	0.74	%
D&H United Fueling Solutions (Delayed Draw)	(6)	First Lien Term Loan	S + 5.25%	10.75	%	9/15/2028	2,372	2,355	2,315	0.23	%
D&H United Fueling Solutions (Delayed Draw) (Incremental)	(12)	First Lien Term Loan	S + 5.75%	11.25	%	9/15/2028	1,563	1,557	1,551	0.16	%
D&H United Fueling Solutions (Incremental)	(6) (13)	First Lien Term Loan	S + 5.75%	11.23	%	9/15/2028	3,448	3,389	3,423	0.35	%
E78	(6)	First Lien Term Loan	S + 5.50%	10.94	%	12/1/2027	5,571	5,537	5,530	0.56	%
E78	(13)	First Lien Term Loan	S + 5.50%	10.94	%	12/1/2027	1,430	1,421	1,420	0.14	%
E78	(11) (12)	First Lien Term Loan	S + 5.50%	10.92	%	12/1/2027	15,233	—	(113)	(0.01	%)
E78 (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.50%	10.94	%	12/1/2027	4,189	4,163	4,158	0.42	%
E78 (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.92	%	12/1/2027	3,539	3,133	3,107	0.31	%
Evergreen Services Group	(6) (9) (12) (13)	First Lien Term Loan	S + 6.25%	11.68	%	6/15/2029	11,905	11,718	11,890	1.21	%
Evergreen Services Group (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 6.25%	11.66	%	6/15/2029	2,849	2,826	2,845	0.29	%
Gabriel Partners LLC	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.75	%	9/21/2026	9,144	9,105	9,144	0.93	%
Gabriel Partners LLC (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.75	%	9/21/2026	1,523	1,523	1,523	0.15	%


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)

Gabriel Partners LLC (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.69	%	9/21/2026	3,774	3,757	3,774	0.38	%
HireRight	(12) (13) (14)	First Lien Term Loan	S + 4.00%	9.34	%	9/27/2030	6,771	6,703	6,757	0.69	%
Image First	(6) (12) (13)	First Lien Term Loan	S + 4.25%	9.58	%	4/27/2028	7,648	7,633	7,668	0.78	%
Image First (Delayed Draw)	(12)	First Lien Term Loan	S + 4.25%	9.59	%	4/27/2028	142	142	143	0.01	%
Integrated Power Services (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.50%	9.96	%	11/22/2028	5,765	263	279	0.03	%
Integrated Power Services (Incremental)	(12)	First Lien Term Loan	S + 4.50%	9.96	%	11/22/2028	1,397	1,394	1,397	0.14	%
Keng Acquisition, Inc. (Engage Group Holdings, LLC)	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.33	%	8/1/2029	9,618	9,488	9,582	0.97	%
Keng Acquisition, Inc. (Engage Group Holdings, LLC) (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.33	%	8/1/2029	9,306	1,852	1,837	0.19	%
KRIV Acquisition, Inc	(6) (12) (13)	First Lien Term Loan	S + 6.50%	11.83	%	7/6/2029	10,710	10,443	10,424	1.06	%
KRIV Acquisition, Inc (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.50%	11.83	%	7/6/2029	1,607	(17)	(43)	—	%
Lion Merger Sub Inc	(9) (13)	First Lien Term Loan	S + 6.00%	11.43	%	12/17/2025	7,304	7,277	7,165	0.73	%
Lion Merger Sub Inc (Incremental)	(9) (12) (13)	First Lien Term Loan	S + 6.00%	11.43	%	12/17/2025	7,279	7,229	7,141	0.72	%
LSCS Holdings Inc.	(6) (12) (13) (14)	First Lien Term Loan	S + 4.50%	9.96	%	12/16/2028	14,962	14,878	14,821	1.50	%
Lynx Franchising, LLC	(6) (9)	First Lien Term Loan	S + 6.75%	12.23	%	12/23/2026	9,750	9,678	9,697	0.98	%
Lynx Franchising, LLC (Incremental)	(9) (12) (13)	First Lien Term Loan	S + 6.75%	12.09	%	12/23/2026	6,757	6,622	6,856	0.70	%
Output Services Group, Inc.	(10) (12)	First Lien Term Loan	S + 8.00%	13.75	%	5/30/2028	155	155	155	0.02	%
Output Services Group, Inc.	(12)	First Lien Term Loan	S + 6.25%	12.00	%	11/30/2028	837	837	837	0.08	%
Phaidon International	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 5.50%	10.94	%	8/22/2029	13,635	13,532	13,468	1.37	%
Plaze	(12)	Subordinated Debt	S + 7.50%	12.94	%	7/7/2028	13,500	13,231	12,642	1.28	%
Press Ganey	(9) (12) (13)	First Lien Term Loan	S + 3.50%	8.84	%	4/30/2031	5,855	5,797	5,801	0.59	%
Propark Mobility	(6)	First Lien Term Loan	S + 6.25%	11.56	%	1/31/2029	6,789	6,683	6,722	0.68	%
Propark Mobility (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.58	%	1/31/2029	3,118	1,274	1,291	0.13	%
Propark Mobility (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 6.25%	11.56	%	1/31/2029	10,198	(25)	(101)	(0.01	%)
Scaled Agile	(6) (9)	First Lien Term Loan	S + 5.50%	10.93	%	12/15/2028	7,895	7,839	7,191	0.73	%
Scaled Agile (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	10.93	%	12/15/2028	388	388	354	0.04	%
Soliant Health	(6) (12)	First Lien Term Loan	S + 4.00%	9.46	%	3/31/2028	3,678	3,683	3,678	0.37	%
Soliant Holdings LLC	(6) (12) (13)	First Lien Term Loan	S + 3.75%	9.08	%	6/20/2031	11,198	11,086	11,086	1.12	%
System One	(6) (12)	First Lien Term Loan	S + 3.75%	9.23	%	3/2/2028	3,220	3,220	3,224	0.33	%
Technical Safety Services	(6)	First Lien Term Loan	S + 5.50%	10.98	%	6/22/2029	6,738	6,685	6,738	0.68	%
Technical Safety Services (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.98	%	6/22/2029	6,383	4,686	4,752	0.48	%


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)

Technical Safety Services (Incremental)	(6) (12)	First Lien Term Loan	S + 5.50%	10.98	%	6/22/2029	1,880	1,855	1,880	0.19	%
TouchTunes Interactive	(6) (13)	First Lien Term Loan	S + 4.75%	10.09	%	4/2/2029	9,850	9,787	9,872	1.00	%
Trilon Group, LLC	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.98	%	5/29/2029	27,896	27,728	27,623	2.80	%
Trilon Group, LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.98	%	5/29/2029	1,875	(9)	(18)	—	%
Vistage	(6) (9)	First Lien Term Loan	S + 4.75%	10.08	%	7/13/2029	6,965	6,932	7,017	0.71	%
Vital Records Control	(6) (9)	First Lien Term Loan	S + 5.50%	11.09	%	6/29/2027	4,559	4,526	4,558	0.46	%
Vital Records Control	(6) (9)	First Lien Term Loan	S + 5.75%	11.08	%	6/29/2027	332	329	332	0.03	%
Total Services: Business								346,139	344,848	34.96	%

Services: Consumer
360 Training	(13)	First Lien Term Loan	S + 5.00%	10.34	%	8/2/2028	3,456	3,424	3,441	0.35	%
360 Training (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.34	%	8/2/2028	3,093	—	(13)	—	%
All My Sons	(6)	First Lien Term Loan	S + 4.75%	10.21	%	10/25/2028	5,233	5,198	5,207	0.53	%
COP Exterminators Acquisition, Inc.	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	855	834	838	0.08	%
COP Exterminators Acquisition, Inc. (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	654	538	533	0.05	%
Excel Fitness	(6) (13)	First Lien Term Loan	S + 5.25%	10.73	%	4/27/2029	9,850	9,761	9,762	0.99	%
Excel Fitness (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.73	%	4/27/2029	2,371	(17)	—	—	%
Fairway Lawns	(12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	2,800	2,739	2,732	0.28	%
Fairway Lawns (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	6,437	6,311	6,154	0.62	%
Fairway Lawns (Delayed Draw) (Incremental)	(11) (12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	6,201	—	(151)	(0.02	%)
Legacy Service Partners, LLC (“LSP”)	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.73	%	1/9/2029	10,110	9,947	10,062	1.02	%
Legacy Service Partners, LLC (“LSP”) (Delayed Draw)	(12)	First Lien Term Loan	S + 5.25%	10.74	%	1/9/2029	4,712	4,695	4,690	0.48	%
Liberty Buyer	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.12	%	6/15/2028	3,909	3,881	3,909	0.40	%
Liberty Buyer (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	11.00	%	6/15/2028	743	294	294	0.03	%
NearU	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.51	%	8/16/2028	8,473	8,431	7,958	0.81	%
NearU (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.51	%	8/16/2028	1,313	—	(80)	(0.01	%)
NearU (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.51	%	8/16/2028	1,427	—	(87)	(0.01	%)
NearU (Delayed Draw) (Incremental)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.51	%	8/16/2028	294	—	(18)	—	%
NJEye LLC	(6)	First Lien Term Loan	S + 4.75%	10.17	%	3/14/2025	5,312	5,310	5,308	0.54	%
NJEye LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.17	%	3/14/2025	696	696	696	0.07	%
NJEye LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	9.45	%	3/14/2025	1,373	884	883	0.09	%
NJEye LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.31	%	3/14/2025	886	886	885	0.09	%


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)

North Haven Spartan US Holdco LLC	(6)	First Lien Term Loan	S + 6.25%	11.58	%	6/8/2026	2,490	2,489	2,490	0.25	%
North Haven Spartan US Holdco LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 6.25%	11.58	%	6/8/2026	216	216	216	0.02	%
North Haven Spartan US Holdco LLC (Delayed Draw) (Incremental)	(11) (13)	First Lien Term Loan	S + 6.25%	11.58	%	6/8/2026	3,260	(8)	—	—	%
One World Fitness PFF LLC	(6)	First Lien Term Loan	S + 5.25%	10.66% (Cash) 1.00% (PIK)		11/26/2025	3,876	3,877	3,719	0.38	%
Perennial Services, Group, LLC	(6)	First Lien Term Loan	S + 5.50%	10.94	%	9/7/2029	6,699	6,611	6,672	0.68	%
Perennial Services, Group, LLC (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 5.50%	10.94	%	9/7/2029	5,995	5,986	5,971	0.61	%
Repipe Specialists	(12)	Subordinated Debt	N/A	3.33% (Cash) 9.17% (PIK)		3/18/2029	2,494	2,457	1,895	0.19	%
Repipe Specialists (Delayed Draw)	(12)	Subordinated Debt	N/A	3.33% (Cash) 9.17% (PIK)		3/18/2029	216	216	164	0.02	%
Wrench Group	(9) (13)	First Lien Term Loan	S + 4.00%	9.60	%	10/30/2028	4,489	4,480	4,499	0.46	%
Total Services: Consumer								90,136	88,629	9.00	%

Sovereign & Public Finance
LMI Renaissance	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.84	%	7/18/2028	12,193	12,083	12,208	1.24	%
Total Sovereign & Public Finance								12,083	12,208	1.24	%

Telecommunications
BCM One	(6)	First Lien Term Loan	S + 4.50%	9.94	%	11/17/2027	5,861	5,861	5,861	0.59	%
BCM One (Delayed Draw)	(6)	First Lien Term Loan	S + 4.50%	9.94	%	11/17/2027	1,817	1,817	1,817	0.18	%
MBS Holdings, Inc.	(6) (9)	First Lien Term Loan	S + 6.25%	11.69	%	4/16/2027	1,819	1,792	1,838	0.19	%
Mobile Communications America Inc	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.84	%	10/16/2029	18,413	18,190	18,271	1.85	%
Mobile Communications America Inc (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	10.83	%	10/16/2029	5,970	259	253	0.03	%
Momentum Telecom II	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.19	%	4/16/2027	10,002	9,951	9,985	1.01	%
Momentum Telecom II (Incremental)	(6) (9)	First Lien Term Loan	S + 6.50%	11.94	%	4/16/2027	1,308	1,287	1,321	0.13	%
Sapphire Telecom Inc	(6) (12) (13)	First Lien Term Loan	S + 5.00%	10.34	%	6/27/2029	19,139	18,948	18,948	1.92	%
Tyto Athene, LLC	(6) (12)	First Lien Term Loan	S + 5.50%	10.95	%	4/3/2028	7,157	7,112	6,568	0.67	%
Total Telecommunications								65,217	64,862	6.57	%

Transportation: Cargo
Armstrong Transport Group	(12)	Subordinated Debt	N/A	17.00% (PIK)		6/30/2027	1,017	997	997	0.10	%
Armstrong Transport Group	(12)	Subordinated Debt	N/A	7.00% (Cash) 7.00% (PIK)		6/30/2027	7,350	7,208	7,205	0.73	%


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)

AIT Logistics	(6) (14)	First Lien Term Loan	S + 4.75%	10.18	%	4/6/2028	625	624	626	0.06	%
FSK Pallet Holding Corp. (DBA Kamps Pallets)	(6) (13)	First Lien Term Loan	S + 6.00%	11.48	%	12/23/2026	9,825	9,699	9,503	0.96	%
Kenco Group, Inc.	(6) (12) (13)	First Lien Term Loan	S + 5.00%	10.29	%	11/15/2029	21,994	21,824	22,199	2.25	%
Kenco Group, Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.29	%	11/15/2029	3,839	(28)	36	—	%
Kenco Group, Inc. (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 5.00%	10.29	%	11/15/2029	4,111	(41)	38	—	%
Quantix (Incremental)	(6) (9)	First Lien Term Loan	S + 6.75%	12.20	%	8/3/2026	256	256	247	0.03	%
Quantix (Incremental)	(6) (9)	First Lien Term Loan	S + 6.75%	12.20	%	8/3/2026	890	888	858	0.09	%
Quantix (Incremental)	(6) (9)	First Lien Term Loan	S + 6.75%	12.20	%	8/3/2026	180	179	173	0.02	%
Quantix (Incremental)	(6) (9)	First Lien Term Loan	S + 6.75%	12.20	%	8/3/2026	4,345	4,333	4,187	0.42	%
Quantix (Incremental)	(9) (13)	First Lien Term Loan	S + 6.75%	11.90	%	8/3/2026	1,352	1,342	1,303	0.13	%
RoadOne	(12)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	4,819	4,706	4,682	0.47	%
RoadOne (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	1,397	(16)	(40)	—	%
SEKO Global Logistics	(12) (16)	Subordinated Debt	S + 5.00%	15.98% (PIK)		6/30/2027	5,905	5,839	381	0.04	%
SEKO Global Logistics	(12) (16)	Subordinated Debt	S + 5.00%	15.98% (PIK)		6/30/2027	4,098	4,049	264	0.03	%
SEKO Global Logistics	(6) (16)	First Lien Term Loan	S + 5.00%	10.48	%	12/30/2026	1,122	1,116	806	0.08	%
SEKO Global Logistics (Delayed Draw)	(12) (16)	Subordinated Debt	S + 5.00%	15.98% (PIK)		6/30/2027	923	923	60	0.01	%
SEKO Global Logistics (Delayed Draw) (Incremental)	(6) (12) (16)	First Lien Term Loan	S + 5.00%	10.47	%	12/30/2026	4,473	4,473	3,212	0.33	%
SEKO Global Logistics (Incremental)	(6) (16)	First Lien Term Loan	S + 5.00%	10.48	%	12/30/2026	1,513	1,504	1,087	0.11	%
TI ACQUISITION NC LLC	(6)	First Lien Term Loan	S + 4.75%	10.04	%	3/19/2027	2,766	2,711	2,702	0.27	%
Total Transportation: Cargo								72,586	60,526	6.13	%

Transportation: Consumer
Alternative Logistics Technologies Buyer, LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.84	%	2/14/2031	10,613	10,515	10,511	1.07	%
Alternative Logistics Technologies Buyer, LLC (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.84	%	2/14/2031	3,040	—	(29)	—	%
American Student Transportaton Partners, Inc	(12)	Subordinated Debt	N/A	6.00% (Cash) 8.50% (PIK)		9/11/2029	2,170	2,120	2,098	0.21	%
Total Transportation: Consumer								12,635	12,580	1.28	%

Utilities: Electric
DMC HoldCo LLC (DMC Power)	(6)	First Lien Term Loan	S + 5.75%	11.08	%	7/13/2029	4,975	4,909	5,005	0.51	%
DMC HoldCo LLC (DMC Power) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.08	%	7/13/2029	1,671	(4)	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)

Pinnacle Supply Partners, LLC	(6)	First Lien Term Loan	S + 6.25%	11.69	%	4/3/2030	6,300	6,191	6,258	0.63	%
Pinnacle Supply Partners, LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.65	%	4/3/2030	3,633	1,365	1,366	0.14	%
Total Utilities: Electric								12,461	12,639	1.28	%

Utilities: Water
USA Water	(6) (12)	First Lien Term Loan	S + 4.75%	10.08	%	2/21/2031	7,877	7,805	7,819	0.79	%
USA Water (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	10.08	%	2/21/2031	3,037	—	(22)	—	%
Total Utilities: Water								7,805	7,797	0.79	%

Wholesale
Industrial Service Group	(6)	First Lien Term Loan	S + 5.75%	11.09	%	12/7/2028	6,492	6,387	6,427	0.65	%
Industrial Service Group (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 5.75%	11.09	%	12/7/2028	3,380	3,367	3,346	0.34	%
INS Intermediate II, LLC (Ergotech Controls, Inc. – d/b/a INS)	(6) (13)	First Lien Term Loan	S + 6.50%	11.98	%	1/19/2029	7,885	7,761	7,895	0.81	%
INS Intermediate II, LLC (Ergotech Controls, Inc. – d/b/a INS) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.50%	11.98	%	1/19/2029	1,979	(30)	3	—	%
Micronics	(12)	Subordinated Debt	S + 5.25%	10.81	%	2/17/2027	2,450	2,409	2,406	0.24	%
TPC Wire & Cable	(12)	Subordinated Debt	N/A	11.00	%	2/16/2028	2,252	2,234	2,214	0.22	%
TPC Wire & Cable (Delayed Draw)	(12)	Subordinated Debt	N/A	11.00	%	2/16/2028	922	921	906	0.09	%
TPC Wire & Cable Corp (Delayed Draw) (Incremental)	(11) (12)	Subordinated Debt	N/A	11.00	%	2/16/2028	1,717	860	831	0.08	%
Total Wholesale								23,909	24,028	2.43	%

Total Debt Investments								1,994,874	1,958,680	198.57	%


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

Equity Investments
Aerospace & Defense
BPC Kodiak LLC (Turbine Engine Specialist, Inc)	(8) (12) (15)	Class A-1 Units	9/1/2023	1,530,000	1,530	1,975	0.20	%
Total Aerospace & Defense					1,530	1,975	0.20	%

Automotive
Covercraft	(8) (12)	LP Interests	8/20/2021	768	768	181	0.02	%
High Bar Brands	(8) (10) (12)	Class A Units	12/19/2023	303,000	303	331	0.03	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)
S&S Truck Parts	(8) (12)	Partnership Units	3/1/2022	4	378	369	0.04	%
S&S Truck Parts	(8) (12)	Common Units	8/1/2022	78,543	290	75	0.01	%
S&S Truck Parts	(8) (10) (12)	Partnership Interests	6/3/2024	1,000	1,000	1,000	0.10	%
S&S Truck Parts	(8) (10) (12)	Warrants	6/3/2024	1,000	1	1	—	%
Total Automotive					2,740	1,957	0.20	%

Beverage, Food & Tobacco
Bardstown PPC Holdings LLC	(8) (10) (12)	Common Units	7/13/2022	14,777	1,860	1,933	0.21	%
Fresh Edge - Common	(8) (12)	Class B Common Units	10/3/2022	682	3	39	—	%
Fresh Edge - Preferred	(8) (12)	Class A Preferred Units	10/3/2022	682	682	694	0.07	%
Tech24	(8) (12)	Company Unit	10/5/2023	954	954	1,030	0.10	%
Total Beverage, Food & Tobacco					3,499	3,696	0.38	%

Capital Equipment
Crete Mechanical Group	(8) (12)	Equity Co-Investment	5/7/2022	24	249	715	0.07	%
EFC Holdings, LLC	(8) (10) (12)	Class A Common Units	2/28/2023	148	60	153	0.02	%
EFC Holdings, LLC	(8) (10) (12)	Series A Preferred Units	2/28/2023	148	148	164	0.02	%
E-Technologies	(8) (12)	Partnership Interests	5/22/2024	1,000,000	1,000	1,000	0.10	%
Precision Surfacing - Common	(8) (10) (12)	Common Units	10/3/2022	3,750,000	3,750	6,450	0.64	%
Total Capital Equipment					5,207	8,482	0.85	%

Construction & Building
Erie Construction	(8) (12)	Common Units	7/27/2021	166	166	447	0.05	%
Gannett Fleming	(8) (12)	Series F Units	5/26/2023	711,481	711	1,229	0.13	%
Gannett Fleming	(8) (12) (15)	Limited Partnership Interests	12/20/2022	530,629	531	916	0.09	%
Total Construction & Building					1,408	2,592	0.27	%

Consumer Goods: Non-durable
FoodScience	(8) (12)	Class B Units	3/1/2021	5,168	5	—	—	%
FoodScience	(8) (12)	Class A Units	3/1/2021	98	98	109	0.01	%
Ultima Health Holdings, LLC	(8) (12)	Preferred Units	9/12/2022	15	170	240	0.02	%
Total Consumer Goods: Non-durable					273	349	0.03	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)
Containers, Packaging & Glass
Oliver Packaging	(8) (12)	Class A Common Units	7/6/2022	10,230	1,023	438	0.04	%
Specialized Packaging Group	(7) (8) (10) (12)	Class A Units	12/17/2020	147,708	148	172	0.02	%
Total Containers, Packaging & Glass					1,171	610	0.06	%

Healthcare & Pharmaceuticals
AG MDC Holdings, Inc	(8) (10) (12)	Class A2 Units	2/7/2023	245	245	196	0.02	%
Anne Arundel	(8) (12)	AA Equity Co-Invest	9/14/2023	12,175	880	—	—	%
Health Management Associates	(8) (12)	Class A Common Units	3/31/2023	399,904	400	495	0.05	%
REP HS Topco Holdings (HemaSource Inc.)	(8) (12)	LP Interests	8/31/2023	577,000	577	691	0.07	%
Total Healthcare & Pharmaceuticals					2,102	1,382	0.14	%

High Tech Industries
ITSavvy LLC	(8) (12)	Class A Common Units	8/8/2022	522	522	1,477	0.15	%
Solve Industrial Motion Group	(8) (12)	LP Interests	6/30/2021	313	313	116	0.01	%
Total High Tech Industries					835	1,593	0.16	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(8) (12)	Series A-3 Preferred Units	10/4/2022	56,899	853	687	0.07	%
Total Media: Diversified & Production					853	687	0.07	%

Services: Business
Apex Companies Holdings, LLC	(8) (10) (12)	Class A Membership Interests	1/31/2023	1,173	117	134	0.01	%
Career Now	(8) (12)	Common Equity	9/30/2021	624	624	—	—	%
Career Now	(8) (12)	Series B Limited Partnership Units	10/14/2023	222	22	—	—	%
E78	(8) (12)	Class A Common Units	12/1/2021	816	860	845	0.10	%
KRIV Acquisition, Inc	(8) (12)	Class A Units	7/17/2023	790	790	698	0.07	%
Output Services Group, Inc.	(8) (10) (12)	Class A Units	11/30/2023	47,021	833	900	0.09	%
Total Services: Business					3,246	2,577	0.27	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)
Services: Consumer
COP Exterminators Investment, LLC	(8) (12)	Class A Units	7/31/2023	997,000	1,117	1,215	0.11	%
Legacy Service Partners, LLC (“LSP”)	(8) (12)	Class B Units	1/9/2023	4,907	491	569	0.06	%
NearU	(8) (9) (12)	Limited Partnership Interests	8/8/2022	2,432	243	152	0.02	%
Perennial Services Investors LLC	(8) (10) (12)	Class A Units	9/8/2023	7,784	778	1,078	0.11	%
Repipe Specialists	(8) (12)	Purchased Units	3/18/2022	253	253	—	—	%
Total Services: Consumer					2,882	3,014	0.30	%

Sovereign & Public Finance
LMI Renaissance	(8) (12)	Limited Partnership Interests	7/18/2022	633,980	634	1,220	0.12	%
Total Sovereign & Public Finance					634	1,220	0.12	%

Transportation: Cargo
RoadOne - Common	(8) (12)	Partnership Units	12/29/2022	1,173,220	939	1,139	0.12	%
SEKO Global Logistics	(8) (12)	Equity Co-Invest	12/30/2020	671,203	332	—	—	%
Total Transportation: Cargo					1,271	1,139	0.12	%

Transportation: Consumer
ASTP Holdings Co-Investment LP	(8) (12)	Limited Partnership Interest	9/11/2023	101,041	101	88	0.01	%
Total Transportation: Consumer					101	88	0.01	%

Utilities: Electric
Pinnacle Supply Partners, LLC	(8) (12)	Subject Partnership Units	4/3/2023	279,687	280	302	0.03	%
Total Utilities: Electric					280	302	0.03	%

Utilities: Water
USA Water	(8) (10) (12)	Common Units	2/21/2024	4,781	478	513	0.05	%
Total Utilities: Water					478	513	0.05	%

Total Equity Investments					28,510	32,176	3.26	%

(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.

(13)Denotes that all or a portion of the assets are owned by SPV IV and/or SPV V (each as defined in Note 1 "Organization"). SPV IV 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 IV. Accordingly, such assets are not available to other creditors of the Company. SPV V 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 V. 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) (12) (13)	First Lien Term Loan	S + 6.50%	12.04	%	10/31/2025	$	14,657	$	14,592	$	14,311	1.91	%
Arotech	(6) (12)	First Lien Term Loan	S + 6.25%	11.70	%	10/22/2026	9,202		9,127		8,945		1.20	%
Arotech (Delayed Draw)	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.70	%	10/22/2026	448		446		435		0.06	%
Loc Performance Products	(6) (12)	First Lien Term Loan	S + 5.25%	10.71	%	12/22/2026	6,557		6,502		6,270		0.84	%
Precision Aviation Group	(6) (12) (13)	First Lien Term Loan	S + 5.75%	11.12	%	12/21/2029	15,039		14,740		14,740		1.97	%
Precision Aviation Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.12	%	12/21/2029	4,961		(49)		(99)		(0.01	%)
Turbine Engine Specialist, Inc	(12)	Subordinated Debt	S + 9.50%	14.96	%	3/1/2029	2,556		2,494		2,509		0.33	%
Valkyrie	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,836		2,792		2,740		0.37	%
Total Aerospace & Defense									50,644		49,851		6.67	%

Automotive
American Auto Auction Group	(6) (12)	First Lien Term Loan	S + 5.00%	10.50	%	12/30/2027	10,520		10,443		10,266		1.37	%
Classic Collision (Delayed Draw) (Incremental Tranche A-4)	(11) (12)	First Lien Term Loan	S + 5.75%	11.29	%	1/14/2026	25,225		3,304		3,016		0.40	%
Classic Collision (Delayed Draw) (Incremental)	(6) (12) (13)	First Lien Term Loan	S + 5.75%	11.29	%	1/14/2026	6,941		6,941		6,847		0.92	%
Classic Collision (Incremental)	(6) (12)	First Lien Term Loan	S + 5.75%	11.29	%	1/14/2026	7,751		7,707		7,646		1.02	%
Collision Right	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.50	%	4/14/2028	5,294		5,269		5,282		0.71	%
Collision Right	(12)	Subordinated Debt	N/A	9.00% (Cash) 3.75% (PIK)		10/14/2028	1,411		1,380		1,371		0.18	%
Collision Right (Delayed Draw)	(12)	Subordinated Debt	N/A	9.00% (Cash) 3.75% (PIK)		10/14/2028	996		985		968		0.13	%
Covercraft	(12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	7,478		7,373		6,892		0.92	%
Covercraft (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	4,386		—		(344)		(0.04	%)
High Bar Brands	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		6/19/2030	2,088		2,035		2,036		0.27	%
High Bar Brands (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		6/19/2030	596		(7)		(15)		—	%
JEGS Automotive	(6)	First Lien Term Loan	S + 6.00%	11.46	%	12/22/2027	3,999		3,970		3,381		0.45	%


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)

OEP Glass Purchaser	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.55	%	4/18/2028	12,563	12,467	12,508	1.67	%
Randys Holdings, Inc	(6) (9) (12) (13)	First Lien Term Loan	S + 6.50%	11.88	%	11/1/2028	11,138	10,943	10,997	1.47	%
Randys Holdings, Inc (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.50%	11.88	%	11/1/2028	3,750	—	(47)	(0.01	%)
S&S Truck Parts	(6)	First Lien Term Loan	S + 5.00%	10.19	%	3/1/2029	6,858	6,803	6,779	0.91	%
S&S Truck Parts	(13)	First Lien Term Loan	S + 5.00%	10.19	%	3/1/2029	1,159	1,150	1,146	0.15	%
S&S Truck Parts (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.19	%	3/1/2029	98	—	(1)	—	%
S&S Truck Parts (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.19	%	3/1/2029	1,724	1,576	1,556	0.21	%
Total Automotive								82,339	80,284	10.73	%

Banking, Finance, Insurance, Real Estate
Coding Solutions Acquisitions	(6) (9)	First Lien Term Loan	S + 5.75%	11.11	%	5/11/2028	6,432	6,380	6,304	0.84	%
Coding Solutions Acquisitions (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	11.11	%	5/11/2028	1,966	1,966	1,927	0.26	%
Long Term Care Group	(6) (9) (12)	First Lien Term Loan	S + 1.00%	6.66% (Cash) 6.00% (PIK)		9/8/2027	6,858	6,812	5,916	0.79	%
Patriot Growth Insurance Service (Delayed Draw) (Incremental)	(9) (12)	First Lien Term Loan	S + 5.75%	11.25	%	10/14/2028	7,166	7,109	7,003	0.94	%
Risk Strategies (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	11.00	%	11/2/2026	14,869	14,869	14,606	1.95	%
Vensure Employer Services	(6) (13)	First Lien Term Loan	S + 4.75%	10.12	%	3/26/2027	14,656	14,628	14,326	1.92	%
World Insurance Associates (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 6.00%	11.35	%	4/3/2028	14,881	14,869	14,841	1.98	%
Total Banking, Finance, Insurance, Real Estate								66,633	64,923	8.68	%

Beverage, Food & Tobacco
Bakeovations Intermediate, LLC (d/b/a Commercial Bakeries)	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 6.25%	11.60	%	9/25/2029	17,282	16,958	16,940	2.27	%
Bardstown PPC Holdings LLC	(12)	Subordinated Debt	S + 7.75%	13.18	%	8/28/2027	9,300	9,154	9,154	1.22	%
Death Wish Coffee	(6) (9) (13)	First Lien Term Loan	S + 4.75%	10.20	%	9/28/2027	9,800	9,739	9,800	1.31	%
Dessert Holdings		Subordinated Debt	S + 7.25%	12.72	%	6/10/2029	9,000	8,874	7,628	1.02	%
Fresh Edge	(12)	Subordinated Debt	S + 4.50%	10.07% (Cash) 5.13% (PIK)		4/3/2029	3,853	3,772	3,765	0.50	%


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)

Fresh Edge (Incremental)	(12)	Subordinated Debt	S + 4.50%	9.98% (Cash) 5.13% (PIK)		4/3/2029	914	891	893	0.12	%
Fresh Edge (Incremental)	(12)	Subordinated Debt	S + 4.50%	9.76% (Cash) 5.13% (PIK)		4/3/2029	769	752	752	0.10	%
Handgards	(6) (13)	First Lien Term Loan	S + 7.00%	12.54	%	10/14/2026	14,513	14,364	14,513	1.94	%
Harvest Hill Beverage Company	(12)	Subordinated Debt	S + 9.00%	14.46	%	2/28/2029	3,640	3,540	3,573	0.48	%
KSLB Holdings LLC	(13)	First Lien Term Loan	S + 4.50%	10.03	%	7/30/2025	2,858	2,844	2,712	0.36	%
Palmetto Acquisitionco, Inc.	(6) (12) (13)	First Lien Term Loan	S + 5.75%	11.10	%	9/18/2029	13,314	13,091	13,085	1.74	%
Palmetto Acquisitionco, Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.10	%	9/18/2029	4,842	1,169	1,103	0.15	%
Rise Baking	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.71	%	8/13/2027	14,700	14,554	14,852	1.99	%
Rise Baking (Delayed Draw)	(9) (12)	First Lien Term Loan	S +5.50%	10.96	%	8/13/2027	4,454	4,432	4,400	0.59	%
Summit Hill Foods	(6)	First Lien Term Loan	S + 6.00%	11.39	%	11/29/2029	9,835	9,689	9,690	1.30	%
Sunny Sky Products (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.60	%	12/23/2028	1,773	—	(17)	—	%
Sunny Sky Products	(12) (13)	First Lien Term Loan	S + 5.25%	10.60	%	12/23/2028	7,093	7,025	7,026	0.94	%
Watermill Express, LLC	(6) (9)	First Lien Term Loan	S + 5.00%	10.50	%	4/20/2027	3,256	3,236	3,241	0.43	%
Watermill Express, LLC (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.00%	10.50	%	4/20/2027	314	315	313	0.04	%
Total Beverage, Food & Tobacco								124,399	123,423	16.50	%

Capital Equipment
Crete Mechanical Group	(6)	First Lien Term Loan	S +5.00%	10.37	%	5/19/2028	4,823	4,785	4,708	0.63	%
Crete Mechanical Group (Delayed Draw)	(6)	First Lien Term Loan	S +5.00%	10.37	%	5/19/2028	2,846	2,807	2,778	0.37	%
Crete Mechanical Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S +5.00%	10.37	%	5/19/2028	7,153	5,710	5,539	0.74	%
EFC Holdings, LLC	(12)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,167	3,083	3,137	0.42	%
Heartland Home Services	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.36	%	12/15/2026	6,467	6,428	6,382	0.85	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.36	%	12/15/2026	5,608	5,589	5,533	0.74	%
Heartland Home Services (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.36	%	12/15/2026	2,571	2,571	2,537	0.34	%
Ovation Holdings, Inc.	(6) (13)	First Lien Term Loan	S +6.25%	11.78	%	2/3/2029	8,035	7,876	7,949	1.06	%
Ovation Holdings, Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.78	%	2/3/2029	1,899	1,535	1,536	0.21	%
Precision Surfacing	(12)	First Lien Term Loan	N/A	15.00	%	6/30/2024	713	713	713	0.09	%
PT Intermediate Holdings III, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.98%	11.52	%	11/1/2028	8,735	8,711	8,664	1.16	%


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)

PT Intermediate Holdings III, LLC (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 5.98%	11.47	%	11/1/2028	1,068	1,059	1,059	0.14	%
Repipe Specialists	(12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	2,433	2,393	2,207	0.30	%
Repipe Specialists (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	901	210	126	0.01	%
RTH Buyer LLC (dba Rhino Tool House)	(12) (13)	First Lien Term Loan	S + 6.25%	11.97	%	4/4/2029	8,052	7,902	7,986	1.07	%
RTH Buyer LLC (dba Rhino Tool House) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.97	%	4/4/2029	1,885	956	949	0.13	%
Total Capital Equipment								62,328	61,803	8.26	%

Chemicals, Plastics, & Rubber
Ascensus	(12) (15)	Subordinated Debt	S + 6.50%	12.18	%	8/2/2029	9,000	8,935	8,691	1.16	%
Ascensus Specialties	(6) (9) (13)	First Lien Term Loan	S + 4.25%	9.71	%	6/30/2028	9,731	9,589	8,776	1.17	%
Boulder Scientific Company LLC	(6)	First Lien Term Loan	S + 4.50%	10.04	%	12/28/2025	2,064	2,073	1,996	0.27	%
Chroma Color Corporation (dba Chroma Color)	(6) (13)	First Lien Term Loan	S + 6.00%	11.41	%	4/21/2029	6,314	6,197	6,199	0.83	%
Chroma Color Corporation (dba Chroma Color) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.41	%	4/21/2029	1,379	(12)	(25)	—	%
Spartech	(6) (9) (12) (13)	First Lien Term Loan	S + 4.75%	10.16	%	5/6/2028	14,768	14,699	11,898	1.59	%
Total Chemicals, Plastics, & Rubber								41,481	37,535	5.02	%

Construction & Building
Allstar Holdings	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	2,114	2,053	2,054	0.27	%
Allstar Holdings (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	4,043	2,803	2,745	0.37	%
Allstar Holdings (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	6,188	(88)	(175)	(0.02	%)
Erie Construction	(6) (13)	First Lien Term Loan	S + 4.75%	10.21	%	7/30/2027	10,153	10,083	10,153	1.36	%
Gannett Fleming	(6) (13)	First Lien Term Loan	S + 6.60%	11.95	%	12/20/2028	9,900	9,730	9,913	1.32	%
MEI Rigging & Crating	(6) (12) (13)	First Lien Term Loan	S + 6.50%	11.86	%	6/30/2029	11,431	11,212	11,329	1.51	%
MEI Rigging & Crating (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.50%	11.86	%	6/30/2029	1,814	(8)	(16)	—	%
Royal Holdco Corporation (Delayed Draw A)	(11) (12)	First Lien Term Loan	S + 5.75%	11.21	%	12/30/2027	4,690	4,303	4,246	0.57	%
Royal Holdco Corporation (Delayed Draw B)	(11) (12)	First Lien Term Loan	S + 5.75%	11.21	%	12/30/2027	3,134	(7)	(45)	(0.01	%)


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)

Royal Holdco Corporation (Incremental)	(10) (12) (13)	First Lien Term Loan	S + 5.75%	11.21	%	12/30/2027	3,118	3,074	3,073	0.41	%
Sciens Building Solutions, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.23	%	12/15/2027	9,315	9,183	9,128	1.22	%
Sciens Building Solutions, LLC (Delayed Draw)	(6) (9) (11) (12) (13)	First Lien Term Loan	S + 5.75%	11.23	%	12/15/2027	4,915	3,259	3,193	0.43	%
WSB Engineering Holdings Inc.	(12) (13)	First Lien Term Loan	S + 6.00%	11.39	%	8/31/2029	6,519	6,426	6,424	0.86	%
WSB Engineering Holdings Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.39	%	8/31/2029	4,357	(31)	(64)	(0.01	%)
Total Construction & Building								61,992	61,958	8.28	%

Consumer Goods: Durable
Halo Buyer Inc	(6) (15)	First Lien Term Loan	S + 4.50%	9.96	%	6/28/2025	5,668	5,641	4,284	0.57	%
Petmate	(6) (9) (12)	First Lien Term Loan	S + 5.50%	11.23	%	9/15/2028	9,825	9,753	5,846	0.78	%
Xpressmyself.com LLC (a/k/a SmartSign)	(6) (13)	First Lien Term Loan	S + 5.50%	10.98	%	9/7/2028	9,875	9,796	9,701	1.30	%
Xpressmyself.com LLC (a/k/a SmartSign)	(6)	First Lien Term Loan	S + 5.75%	11.22	%	9/7/2028	5,025	4,932	4,983	0.67	%
Total Consumer Goods: Durable								30,122	24,814	3.32	%

Consumer Goods: Non-durable
Arcadia Consumer Health	(6) (9) (13)	First Lien Term Loan	S + 4.50%	9.98	%	9/10/2027	12,604	12,522	12,192	1.63	%
Arcadia Consumer Health (Incremental)	(9) (12) (13)	First Lien Term Loan	S + 5.75%	11.23	%	9/10/2027	2,256	2,216	2,251	0.30	%
Badger Sportswear Acquisition Inc	(6)	First Lien Term Loan	S + 4.50%	10.03	%	1/7/2024	3,800	3,800	3,800	0.51	%
FoodScience	(6) (12)	First Lien Term Loan	S + 6.00%	11.73	%	3/1/2027	7,744	7,696	7,081	0.95	%
FoodScience	(6) (12)	First Lien Term Loan	S + 6.00%	12.23	%	3/1/2027	6,880	6,831	6,291	0.84	%
Protective Industrial Products (“PIP”)	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	10.47	%	12/29/2027	4,860	4,684	4,909	0.66	%
Elevation Labs	(6) (13)	First Lien Term Loan	S + 5.75%	11.23	%	6/30/2028	6,789	6,733	6,335	0.85	%
Elevation Labs (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.23	%	6/30/2028	3,125	(24)	(209)	(0.03	%)
Market Performance Group	(6) (13)	First Lien Term Loan	S + 5.50%	11.03	%	12/29/2026	2,505	2,489	2,505	0.33	%
Market Performance Group	(6) (13)	First Lien Term Loan	S + 5.50%	11.03	%	12/29/2026	7,275	7,256	7,275	0.97	%
Ultima Health Holdings, LLC	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		3/12/2029	1,734	1,706	1,704	0.23	%
Total Consumer Goods: Non-durable								55,909	54,134	7.24	%


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%	12.28	%	10/7/2026	14,696	14,663	14,398	1.93	%
B2B Packaging (Delayed Draw)	(6)	First Lien Term Loan	S + 6.75%	12.29	%	10/7/2026	116	114	114	0.02	%
Five Star Packing	(6) (13) (15)	First Lien Term Loan	S + 4.25%	9.63	%	5/6/2029	7,576	7,482	7,482	1.00	%
Good2Grow	(12) (13)	First Lien Term Loan	S + 5.50%	11.04	%	12/1/2027	6,362	6,270	6,362	0.85	%
Good2Grow	(6) (13)	First Lien Term Loan	S + 4.50%	10.04	%	12/1/2027	9,265	9,201	9,137	1.22	%
Oliver Packaging	(12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		1/6/2029	2,510	2,471	2,377	0.32	%
Online Labels Group	(13)	First Lien Term Loan	S + 5.25%	10.61	%	12/19/2029	3,328	3,295	3,296	0.44	%
Online Labels Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.61	%	12/19/2029	403	—	(4)	—	%
Online Labels Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.61	%	12/19/2029	403	—	(4)	—	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	11.23	%	12/17/2025	2,983	2,968	2,921	0.39	%
Specialized Packaging Group	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	11.23	%	12/17/2025	7,275	7,236	7,123	0.95	%
Specialized Packaging Group (Incremental)	(7) (10) (13)	First Lien Term Loan	S + 6.25%	11.98	%	12/17/2025	4,409	4,354	4,375	0.58	%
Specialized Packaging Group (Incremental)	(7) (10) (12) (13)	First Lien Term Loan	S + 6.25%	11.78	%	12/17/2025	6,894	6,798	6,751	0.90	%
Total Containers, Packaging & Glass								64,852	64,328	8.60	%

Energy: Electricity
MGM Transformer Company (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.38	%	10/31/2029	6,388	(16)	(92)	(0.01	%)
MGM Transformer Company	(6) (12) (13)	First Lien Term Loan	S + 6.00%	11.38	%	10/31/2029	23,612	23,259	23,271	3.11	%
National Power	(12) (13)	First Lien Term Loan	S + 6.00%	11.36	%	10/20/2029	5,674	5,589	5,593	0.75	%
National Power (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.36	%	10/20/2029	3,051	(7)	(44)	(0.01	%)
Total Energy: Electricity								28,825	28,728	3.84	%

Environmental Industries
Impact Environmental Group	(12) (13)	First Lien Term Loan	S + 6.00%	11.28	%	3/23/2029	6,776	6,650	6,721	0.90	%
Impact Environmental Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.28	%	3/23/2029	3,166	2,770	2,759	0.37	%
Impact Environmental Group (Incremental)	(12)	First Lien Term Loan	S + 6.00%	11.28	%	3/23/2029	1,736	1,703	1,722	0.23	%


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)

Impact Environmental Group (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 6.00%	11.28	%	3/23/2029	6,822	(32)	(55)	(0.01	%)
Nutrition 101 Buyer LLC (a/k/a 101, Inc.)	(6) (13)	First Lien Term Loan	S + 5.25%	10.73	%	8/31/2028	6,648	6,596	6,518	0.87	%
Orion Group FM Holdings, LLC (dba Leo Facilities Maintenance)	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.65	%	7/1/2029	8,550	8,426	8,429	1.13	%
Orion Group FM Holdings, LLC (dba Leo Facilities Maintenance) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.65	%	7/1/2029	6,429	(15)	(91)	(0.01	%)
The Facilities Group	(6) (9)	First Lien Term Loan	S + 5.75%	11.23	%	11/30/2027	4,872	4,840	4,847	0.64	%
The Facilities Group (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	11.22	%	11/30/2027	5,028	—	(25)	—	%
The Facilities Group	(9) (13)	First Lien Term Loan	S + 5.75%	11.22	%	11/30/2027	9,051	8,963	9,006	1.20	%
The Facilities Group (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.75%	11.22	%	11/30/2027	4,952	4,952	4,927	0.66	%
Total Environmental Industries								44,853	44,758	5.98	%

Healthcare & Pharmaceuticals
Affinity Hospice	(6) (12)	First Lien Term Loan	S + 4.75%	10.20	%	12/17/2027	7,872	7,817	7,048	0.94	%
Anne Arundel	(12)	Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	3,282	3,247	2,656	0.36	%
Anne Arundel	(12)	Subordinated Debt	N/A	11.00% (PIK)		4/16/2026	1,972	1,957	1,776	0.24	%
Anne Arundel (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	11.00% (PIK)		4/16/2026	2,396	2,022	1,790	0.24	%
Forefront Dermatology	(6) (9) (12) (15)	First Lien Term Loan	S + 4.25%	9.63	%	4/1/2029	3,315	3,268	3,215	0.43	%
Genesee Scientific	(6) (9)	First Lien Term Loan	S + 5.50%	10.95	%	9/30/2027	5,959	5,922	5,839	0.78	%
Genesee Scientific (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	10.95	%	9/30/2027	1,560	1,560	1,528	0.20	%
GHR Healthcare	(6) (9)	First Lien Term Loan	S + 5.00%	10.50	%	12/8/2027	6,401	6,359	6,255	0.84	%
GHR Healthcare (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.00%	10.50	%	12/9/2027	2,002	2,002	1,957	0.26	%
GHR Healthcare (Incremental)	(13)	First Lien Term Loan	S + 5.00%	10.50	%	12/9/2027	4,983	4,904	4,869	0.65	%
Health Management Associates	(12) (13)	First Lien Term Loan	S + 6.50%	11.73	%	3/31/2029	8,307	8,154	8,233	1.10	%
Health Management Associates (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.50%	11.73	%	3/31/2029	1,499	444	460	0.06	%
Heartland Veterinary Partners LLC (Incremental)	(12)	Subordinated Debt	S + 7.50%	12.96	%	12/10/2027	1,900	1,872	1,875	0.25	%
Heartland Veterinary Partners LLC (Incremental) (Delayed Draw)	(12)	Subordinated Debt	S +7.50%	12.96	%	12/10/2027	9,500	9,500	9,377	1.25	%


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)

HemaSource Inc.	(12)	Subordinated Debt	N/A	8.50% (Cash) 5.00% (PIK)		2/28/2030	5,292	5,153	5,147	0.69	%
InfuCare RX	(6) (12) (13)	First Lien Term Loan	S + 4.50%	9.95	%	1/4/2028	9,248	9,182	9,045	1.21	%
MDC Intermediate Holdings II, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	1,749	1,711	1,690	0.23	%
MDC Intermediate Holdings II, LLC (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	721	160	143	0.02	%
Midwest Eye Consultants	(6) (13)	First Lien Term Loan	S + 4.50%	10.04	%	8/20/2027	9,021	8,962	8,790	1.18	%
PromptCare	(6) (9) (13)	First Lien Term Loan	S + 6.00%	11.46	%	9/1/2027	8,204	8,121	8,079	1.08	%
PromptCare (Delayed Draw)	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.46	%	9/1/2027	1,278	1,271	1,258	0.17	%
Quorum Health Resources, LLC	(6) (13)	First Lien Term Loan	S + 5.75%	11.50	%	5/28/2027	7,680	7,627	7,552	1.01	%
Quorum Health Resources, LLC (Delayed Draw) (Incremental)	(6) (10) (12)	First Lien Term Loan	S + 6.25%	11.68	%	5/28/2027	3,248	3,240	3,240	0.43	%
Quorum Health Resources, LLC (Incremental)	(10) (12) (13)	First Lien Term Loan	S + 6.25%	11.68	%	5/28/2027	3,248	3,201	3,240	0.43	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6) (12) (13)	First Lien Term Loan	S + 6.00%	11.28	%	9/19/2028	8,958	8,729	8,854	1.18	%
Sandlot Buyer, LLC (Prime Time Healthcare) (Incremental)	(12) (13)	First Lien Term Loan	S + 6.00%	11.52	%	9/19/2028	10,122	9,924	10,004	1.34	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners)	(6) (13)	First Lien Term Loan	S + 5.75%	11.21	%	10/7/2029	7,474	7,408	7,382	0.99	%
SCP Eye Care Holdco, LLC (DBA EyeSouth Partners) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.21	%	10/7/2029	2,443	1,558	1,528	0.21	%
SM Wellness Holdings, Inc	(6) (12) (13)	First Lien Term Loan	S + 4.75%	10.14	%	4/15/2028	14,665	14,573	14,187	1.90	%
Thorne HealthTech	(6) (12) (13)	First Lien Term Loan	S + 5.75%	11.10	%	10/16/2030	10,652	10,549	10,553	1.41	%
TIDI Products	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.86	%	12/19/2029	15,523	15,368	15,369	2.05	%
TIDI Products (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.86	%	12/19/2029	4,085	—	(40)	(0.01	%)
US Fertility	(12)	Subordinated Debt	N/A	13.75% (PIK)		6/21/2028	12,391	12,084	12,066	1.61	%
Wellspring Pharmaceutical	(13)	First Lien Term Loan	S + 5.75%	11.03	%	8/22/2028	3,378	3,323	3,298	0.44	%
Wellspring Pharmaceutical (Delayed Draw)	(12)	First Lien Term Loan	S + 5.75%	11.03	%	8/22/2028	1,571	1,561	1,534	0.21	%
Wellspring Pharmaceutical (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 6.00%	11.18	%	8/22/2028	3,756	(16)	(55)	(0.01	%)
Wellspring Pharmaceutical (Incremental)	(12) (13)	First Lien Term Loan	S + 6.00%	11.18	%	8/22/2028	1,246	1,223	1,228	0.16	%
Young Innovations (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	11.09	%	12/1/2029	3,448	—	(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)

Young Innovations	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.09	%	12/1/2029	16,552	16,386	16,391	2.19	%
Total Healthcare & Pharmaceuticals								210,326	207,327	27.72	%

High Tech Industries
Acclaim MidCo, LLC (dba ClaimLogiQ)	(6) (12) (13)	First Lien Term Loan	S + 6.00%	11.35	%	6/13/2029	8,021	7,870	7,951	1.06	%
Acclaim MidCo, LLC (dba ClaimLogiQ) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.35	%	6/13/2029	3,225	(15)	(28)	—	%
Argano, LLC	(6)	First Lien Term Loan	S + 5.50%	11.69	%	6/10/2026	5,634	5,602	5,510	0.74	%
Argano, LLC (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.50%	11.69	%	6/10/2026	2,494	2,494	2,440	0.33	%
Argano, LLC (Delayed Draw) (Incremental)	(6)	First Lien Term Loan	S + 5.50%	11.69	%	6/10/2026	1,705	1,676	1,667	0.22	%
Diligent Corporation	(6) (9) (12)	First Lien Term Loan	S + 6.25%	11.78	%	7/31/2025	12,469	12,451	12,366	1.65	%
Diligent Corporation	(9) (12) (13)	First Lien Term Loan	S + 5.75%	11.28	%	7/31/2025	3,387	3,372	3,334	0.45	%
Diligent Corporation	(9) (12)	First Lien Term Loan	S + 5.75%	11.28	%	8/4/2025	1,476	1,469	1,453	0.19	%
Diligent Corporation (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 6.25%	11.78	%	7/31/2025	168	168	166	0.02	%
Diligent Corporation (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 6.25%	11.78	%	7/31/2025	106	106	105	0.01	%
Eliassen Group LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.85	%	4/14/2028	12,069	11,976	12,083	1.62	%
Eliassen Group LLC (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.85	%	4/14/2028	2,771	864	872	0.11	%
Evergreen Services Group II (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.35	%	10/4/2030	13,014	8,495	8,342	1.11	%
Evergreen Services Group II	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.35	%	10/4/2030	16,156	15,917	15,926	2.13	%
Exterro	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	11.03	%	6/1/2027	9,474	9,462	9,503	1.27	%
Fineline Merger	(12)	Subordinated Debt	S + 9.26%	14.61	%	8/22/2028	2,453	2,427	2,453	0.33	%
Go Engineer	(6) (9) (13)	First Lien Term Loan	S + 5.38%	10.87	%	12/21/2027	11,572	11,490	11,409	1.53	%
Go Engineer (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.38%	10.87	%	12/21/2027	3,152	3,130	3,107	0.42	%
Infinite Electronics (Incremental)	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.88	%	3/2/2028	6,313	6,152	6,100	0.82	%
Infobase Acquisition, Inc.	(6) (13)	First Lien Term Loan	S + 5.50%	10.93	%	6/14/2028	4,331	4,297	4,297	0.57	%
Infobase Acquisition, Inc. (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.93	%	6/14/2028	721	—	(6)	—	%
ITSavvy LLC	(6) (13)	First Lien Term Loan	S + 5.25%	10.89	%	8/8/2028	7,794	7,730	7,794	1.04	%
ITSavvy LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.89	%	8/8/2028	1,049	883	891	0.12	%


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)

North Haven CS Acquisition Inc	(6)	First Lien Term Loan	S + 5.25%	10.78	%	1/23/2025	5,787	5,787	5,787	0.77	%
Prosci, Inc.	(6)	First Lien Term Loan	S + 4.50%	9.99	%	10/21/2026	4,733	4,704	4,708	0.63	%
Revalize (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.21	%	4/15/2027	4,243	4,232	4,064	0.54	%
Revalize (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.75%	11.21	%	4/15/2027	1,090	1,083	1,044	0.14	%
Revalize (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	11.25	%	4/15/2027	244	243	234	0.03	%
SmartWave	(6) (12)	First Lien Term Loan	S + 6.00%	11.53	%	11/5/2026	9,214	9,145	7,744	1.04	%
Solve Industrial Motion Group	(12)	Subordinated Debt	N/A	5.00% (Cash) 8.00% (PIK)		6/30/2028	1,786	1,760	1,700	0.23	%
Solve Industrial Motion Group	(12)	Subordinated Debt	N/A	5.00% (Cash) 8.00% (PIK)		6/28/2028	763	749	739	0.10	%
Solve Industrial Motion Group (Delayed Draw)	(12)	Subordinated Debt	N/A	5.00% (Cash) 8.00% (PIK)		6/30/2028	2,046	2,046	1,947	0.26	%
Total High Tech Industries								147,765	145,702	19.48	%

Media: Advertising, Printing & Publishing
Tinuiti	(6) (9)	First Lien Term Loan	S + 5.25%	10.70	%	12/10/2026	2,948	2,928	2,823	0.38	%
Tinuiti (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.25%	10.70	%	12/10/2026	1,926	1,926	1,845	0.25	%
Tinuiti (Delayed Draw) (Incremental)	(6) (12)	First Lien Term Loan	S + 5.25%	10.70	%	12/10/2026	9,863	9,863	9,445	1.26	%
Wpromote	(13)	First Lien Term Loan	S + 5.75%	11.19	%	10/21/2028	4,379	4,304	4,344	0.58	%
Wpromote (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.19	%	10/21/2028	588	(4)	(5)	—	%
Total Media: Advertising, Printing & Publishing								19,017	18,452	2.47	%

Media: Diversified & Production
Corporate Visions	(6)	First Lien Term Loan	S + 4.50%	9.96	%	8/12/2027	2,887	2,867	2,752	0.37	%
Corporate Visions	(6)	First Lien Term Loan	S + 4.50%	9.96	%	8/12/2027	2,538	2,509	2,419	0.32	%
Spectrio II	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	6.50% (Cash) 5.00% (PIK)		12/9/2026	8,143	8,100	7,556	1.01	%
Spectrio II (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 6.00%	6.50% (Cash) 5.00% (PIK)		12/9/2026	2,893	2,875	2,684	0.36	%
Spectrio II (Delayed Draw)	(9) (13)	First Lien Term Loan	S + 6.00%	6.50% (Cash) 5.00% (PIK)		12/9/2026	441	440	407	0.06	%
Total Media: Diversified & Production								16,791	15,818	2.12	%
Retail
Syndigo	(6)	First Lien Term Loan	S + 4.50%	9.97	%	12/14/2027	5,835	5,850	5,747	0.77	%
Total Retail								5,850	5,747	0.77	%


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)

Services: Business
ALKU Intermediate Holdings, LLC	(12) (13)	First Lien Term Loan	S + 6.25%	11.61	%	5/23/2029	4,519	4,434	4,480	0.60	%
Apex Companies Holdings, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		1/31/2029	3,964	3,879	3,953	0.53	%
Apex Companies Holdings, LLC (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		1/31/2029	1,197	69	79	0.01	%
ARMstrong (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.70	%	10/6/2029	3,847	(28)	(55)	(0.01	%)
ARMstrong	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.70	%	10/6/2029	11,447	11,279	11,284	1.51	%
Big Truck Rental	(12)	Subordinated Debt	S + 8.00%	13.47	%	9/30/2027	10,000	9,858	10,000	1.34	%
Big Truck Rental	(12)	Subordinated Debt	S + 8.00%	13.47	%	9/30/2027	2,500	2,500	2,500	0.33	%
Bounteous	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.74	%	8/2/2027	5,347	5,310	5,083	0.68	%
Bounteous	(6) (12)	First Lien Term Loan	S + 5.25%	10.74	%	8/2/2027	2,189	2,173	2,080	0.28	%
Bounteous (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 5.25%	10.74	%	8/2/2027	2,768	2,750	2,631	0.35	%
Bounteous (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.74	%	8/2/2027	4,467	—	(221)	(0.03	%)
BroadcastMed Holdco, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,483	3,424	3,369	0.45	%
Bullhorn Inc	(6) (9) (12) (13)	First Lien Term Loan	S + 5.75%	10.96	%	9/30/2026	13,706	13,609	13,706	1.83	%
BusinesSolver	(6) (9) (12)	First Lien Term Loan	S + 5.50%	10.96	%	12/1/2027	7,741	7,686	7,738	1.03	%
BusinesSolver (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.96	%	12/1/2027	1,149	176	179	0.02	%
Career Now	(12)	Subordinated Debt	N/A	13.00% (PIK)		3/27/2027	3,277	3,237	2,425	0.32	%
Cornerstone Advisors of Arizona LLC	(6)	First Lien Term Loan	S + 5.50%	11.07	%	9/24/2026	308	306	308	0.04	%
Cornerstone Advisors of Arizona LLC	(6)	First Lien Term Loan	S + 5.50%	11.07	%	9/24/2026	2,295	2,283	2,295	0.31	%
Cornerstone Advisors of Arizona LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 5.50%	11.07	%	9/24/2026	210	210	210	0.03	%
CrossCountry Consulting	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.21	%	6/1/2029	8,174	8,037	8,217	1.10	%
CrossCountry Consulting (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	11.21	%	6/1/2029	3,320	(26)	17	—	%
D&H United Fueling Solutions	(6) (13)	First Lien Term Loan	S + 5.50%	11.03	%	9/16/2028	7,491	7,368	7,290	0.97	%
D&H United Fueling Solutions (Delayed Draw)	(6)	First Lien Term Loan	S + 5.50%	11.03	%	9/16/2028	2,384	2,365	2,320	0.31	%
D&H United Fueling Solutions (Delayed Draw) (Incremental)	(11) (12)	First Lien Term Loan	S + 6.00%	11.50	%	9/16/2028	1,567	(7)	(13)	—	%
D&H United Fueling Solutions (Incremental)	(6) (13)	First Lien Term Loan	S + 6.00%	11.50	%	9/16/2028	3,465	3,401	3,436	0.46	%
E78	(6)	First Lien Term Loan	S + 5.75%	11.21	%	12/1/2027	5,600	5,560	5,489	0.74	%


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)

E78	(13)	First Lien Term Loan	S + 5.75%	11.21	%	12/1/2027	1,438	1,426	1,409	0.19	%
E78 (Delayed Draw)	(6) (13)	First Lien Term Loan	S + 5.75%	11.21	%	12/1/2027	4,210	4,180	4,127	0.55	%
E78 (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.21	%	12/1/2027	3,550	979	909	0.12	%
Evergreen Services Group	(6) (9) (12) (13)	First Lien Term Loan	S + 6.25%	11.70	%	6/15/2029	11,966	11,766	11,733	1.57	%
Evergreen Services Group (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 6.25%	11.70	%	6/15/2029	2,863	2,839	2,807	0.38	%
Gabriel Partners LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.53	%	9/21/2026	9,192	9,144	9,192	1.23	%
Gabriel Partners LLC (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.53	%	9/21/2026	1,531	1,531	1,531	0.20	%
Gabriel Partners LLC (Incremental)	(9) (13)	First Lien Term Loan	S + 5.75%	11.53	%	9/21/2026	3,794	3,771	3,794	0.51	%
Keng Acquisition, Inc. (Engage Group Holdings, LLC)	(9) (12) (13)	First Lien Term Loan	S + 6.25%	11.60	%	8/1/2029	9,667	9,526	9,528	1.27	%
Keng Acquisition, Inc. (Engage Group Holdings, LLC) (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.25%	11.60	%	8/1/2029	9,314	1,179	1,067	0.14	%
KRIV Acquisition, Inc	(6) (12) (13)	First Lien Term Loan	S + 6.50%	11.85	%	7/6/2029	10,764	10,476	10,453	1.40	%
KRIV Acquisition, Inc (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.50%	11.85	%	7/6/2029	1,607	(19)	(46)	(0.01	%)
Lion Merger Sub Inc	(9) (13)	First Lien Term Loan	S + 6.00%	11.45	%	12/17/2025	7,342	7,308	7,259	0.97	%
Lion Merger Sub Inc (Incremental)	(9) (12) (13)	First Lien Term Loan	S + 6.00%	11.45	%	12/17/2025	7,317	7,252	7,234	0.97	%
LSCS Holdings Inc.	(6) (13) (15)	First Lien Term Loan	S + 4.50%	9.86	%	12/16/2028	9,800	9,762	9,675	1.30	%
LYNX FRANCHISING, LLC	(6) (9)	First Lien Term Loan	S + 6.75%	12.47	%	12/23/2026	9,800	9,725	9,699	1.30	%
Micronics	(12)	Subordinated Debt	S + 5.25%	10.00	%	2/17/2027	2,450	2,401	2,401	0.32	%
Output Services Group, Inc.	(10) (12)	First Lien Term Loan	S + 8.00%	13.39	%	5/30/2028	155	155	155	0.02	%
Output Services Group, Inc.	(12)	First Lien Term Loan	S + 6.25%	7.32% (Cash) 4.75% (PIK)		5/30/2028	837	837	837	0.11	%
Phaidon International	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 5.50%	10.96	%	8/22/2029	14,010	13,892	14,010	1.88	%
Plaze	(12)	Subordinated Debt	S + 7.50%	12.97	%	7/7/2028	13,500	13,201	12,465	1.67	%
Scaled Agile	(6) (9)	First Lien Term Loan	S +5.50%	10.95	%	12/16/2028	7,936	7,875	7,623	1.02	%
Scaled Agile (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	10.95	%	12/16/2028	390	390	375	0.05	%
Smile Brands	(12)	Subordinated Debt	S + 8.50%	14.99% (PIK)		4/12/2028	9,947	9,866	8,665	1.16	%
Soliant Health	(6)	First Lien Term Loan	S + 4.00%	9.47	%	4/1/2028	2,628	2,615	2,628	0.35	%
Technical Safety Services	(6) (13)	First Lien Term Loan	S + 5.50%	11.00	%	6/22/2029	6,772	6,716	6,712	0.90	%
Technical Safety Services (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	11.00	%	6/22/2029	6,404


Maryland						84-3613224
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)
375 Park Avenue, 9th Floor, New York, NY						10152
(Address of principal executive offices)						(Zip Code)


Portfolio Company (1) (2)	Interest Rate	Shares/Units	Amortized Cost		Fair Value (4)		% of Net Assets (5)
Cash Equivalents
BlackRock Liquidity Funds T-Fund - Institutional Class	5.19%	67,654	67,654		67,654		6.87	%
First American Government Obligations Fund - Class Z	5.19%	31	31		31		—	%
Total Cash Equivalents			$	67,685	$	67,685	6.87	%
Total Investments and Cash Equivalents			$	2,091,069	$	2,058,541	208.70	%


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, 2024		June 30, 2023
Cash	$	3,301	$	10,098
Cash equivalents	67,685		35,350
Restricted cash	50		50
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows	$	71,036	$	45,498