ncdlc-20240930

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.


	September 30, 2024		December 31, 2023

Assets	(Unaudited)
Investments
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $2,075,365 and $1,666,169, respectively)	$	2,046,887	$	1,641,686
Cash and cash equivalents	69,304		67,395
Restricted cash	50		50


Interest receivable	18,127		17,674
Receivable for investments sold	5,657		3,919

Prepaid expenses	85		13
Other assets	—		127
Total assets	$	2,140,110	$	1,730,864

Liabilities
Secured borrowings (net of $7,503 and $7,941 deferred financing costs, respectively) (See Note 6)	$	1,094,461	$	943,936
Payable for investments purchased	2,545		—
Interest payable	15,462		9,837
Due to adviser for expense support (See Note 5)	—		632

Management fees payable	3,873		3,006
Distributions payable	30,037		22,683
Directors’ fees payable	128		96
Accounts payable and accrued expenses	2,995		2,789
Total liabilities	$	1,149,501	$	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, 54,571,650 and 41,242,105 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	$	546	$	412
Paid-in-capital in excess of par value	1,017,248		776,719
Total distributable earnings (loss)	(27,185)		(29,246)
Total net assets	$	990,609	$	747,885

Total liabilities and net assets	$	2,140,110	$	1,730,864

Net asset value per share (See Note 10)	$	18.15	$	18.13


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Investment income:
Non-controlled/non-affiliated company investments:
Interest income	$	57,317	$	40,370	$	159,413	$	110,049
Payment-in-kind interest income	2,503		951		6,024		1,823
Dividend income	16		16		357		56
Other income	444		409		1,170		879
Total investment income	60,280		41,746		166,964		112,807

Expenses:
Interest and debt financing expenses	23,198		16,048		58,860		43,089
Management fees (See Note 5)	3,873		2,722		10,727		7,503
Incentive fees on net investment income	5,496		—		13,030		—
Professional fees	912		730		2,315		2,284
Directors' fees	128		96		383		287
Administration fees (See Note 5)	535		370		1,561		1,029
Other general and administrative expenses	145		125		888		653
Total expenses before expense support and incentive fees waived	34,287		20,091		87,764		54,845
Expense support (See Note 5)	—		—		—		(158)
Incentive fees waived (See Note 5)	(5,496)		—		(13,030)		—
Net Expenses after expense support	28,791		20,091		74,734		54,687


Net investment income	31,489		21,655		92,230		58,120

Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	1,086		(13,107)		(1,522)		(6,408)
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated company investments	4,050		11,574		(3,995)		(3,805)
Income tax (provision) benefit	18		27		159		(735)
Total net change in unrealized gain (loss)	4,068		11,601		(3,836)		(4,540)
Total net realized and unrealized gain (loss) on investments	5,154		(1,506)		(5,358)		(10,948)

Net increase (decrease) in net assets resulting from operations	$	36,643	$	20,149	$	86,872	$	47,172

Per share data:
Net investment income per share - basic and diluted	$	0.58	$	0.62	$	1.71	$	1.85
Net increase (decrease) in net assets resulting from operations per share - basic and diluted	$	0.67	$	0.58	$	1.61	$	1.50
Weighted average common shares outstanding - basic and diluted	54,688,860		34,812,720		54,080,979		31,409,296


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Increase (decrease) in net assets resulting from operations:
Net investment income	$	31,489	$	21,655	$	92,230	$	58,120
Net realized gain (loss) on investments	1,086		(13,107)		(1,522)		(6,408)
Net change in unrealized appreciation (depreciation) on investments	4,068		11,601		(3,836)		(4,540)
Net increase (decrease) in net assets resulting from operations	36,643		20,149		86,872		47,172
Shareholder distributions:
Distributions declared from net investment income	(30,036)		(19,572)		(84,811)		(58,523)
Net increase (decrease) in net assets resulting from shareholder distributions	(30,036)		(19,572)		(84,811)		(58,523)
Capital share transactions:
Issuance of common shares, net	—		78,565		241,657		118,542
Reinvestment of shareholder distributions	3,560		2,320		10,085		6,811
Repurchases of common stock	(5,930)		—		(11,079)		—
Net increase (decrease) in net assets resulting from capital share transactions	(2,370)		80,885		240,663		125,353
Total increase (decrease) in net assets	4,237		81,462		242,724		114,002
Net assets, beginning of period	986,372		557,497		747,885		524,957
Net assets, end of period	$	990,609	$	638,959	$	990,609	$	638,959

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


	Nine Months Ended September 30,
	2024		2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	86,872	$	47,172

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	(712,464)		(352,883)
Proceeds from principal repayments and sales of investments	310,489		65,851
Payment-in-kind interest	(6,024)		(1,823)
Amortization of (premium)/accretion of discount, net	(2,719)		(1,994)
Net realized (gain) loss on investments	1,522		6,408
Net change in unrealized (appreciation) depreciation on investments	3,995		3,805
Amortization of deferred financing costs	2,638		1,424
Amortization of offering costs	—		(23)
Changes in operating assets and liabilities:
Due from adviser for expense support	—		515
Interest receivable	(453)		(3,888)
Receivable for investments sold	(1,738)		(4,399)

Prepaid expenses	(72)		(16)
Other assets	127		—
Payable for investments purchased	2,545		(56)
Interest payable	5,625		3,808
Due to adviser for expense support	(632)		(282)

Management fees payable	867		511
Directors’ fees payable	32		—

Accounts payable and accrued expenses	206		1,053
Net cash provided by (used in) operating activities	(309,184)		(234,817)

Cash flows from financing activities:

Proceeds from issuance of common shares	241,657		118,988

Shareholder distributions	(67,372)		(46,464)
Repurchases of common shares	(11,079)		—
Proceeds from secured borrowings	717,750		340,600
Repayments of secured borrowings	(567,663)		(179,500)
Payments of deferred financing costs	(2,200)		(2,106)
Net cash provided by (used in) financing activities	311,093		231,518

Net increase (decrease) in Cash and Cash Equivalents and Restricted Cash	1,909		(3,299)
Cash and Cash Equivalents and Restricted Cash, beginning of period	67,445		39,320
Cash and Cash Equivalents and Restricted Cash, end of period	$	69,354	$	36,021

Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$	50,597	$	37,857
Cash paid during the period for excise taxes	$	6	$	—


Supplemental disclosure of non-cash flow financing activity:
Reinvestment of shareholder distributions	$	10,085	$	6,811


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 + 6.00%	10.70	%	10/31/2025	$	14,548	$	14,510	$	14,352	1.45	%
AEgis Technologies	(6) (12) (13)	First Lien Term Loan	S + 6.00%	10.70	%	10/31/2025	3,022		2,998		2,982		0.30	%
Arotech Corporation	(6) (13)	First Lien Term Loan	S + 6.25%	11.20	%	10/22/2026	15,004		14,437		15,004		1.51	%
Arotech Corporation (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 6.25%	11.29	%	10/22/2026	730		704		730		0.07	%
BTX Precision	(12)	First Lien Term Loan	S + 5.00%	9.85	%	7/25/2030	1,571		1,551		1,552		0.16	%
BTX Precision (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	7/25/2030	539		(3)		(6)		—	%
BTX Precision (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	7/25/2030	359		—		(4)		—	%
Precision Aviation Group	(6) (12) (13)	First Lien Term Loan	S + 5.25%	9.85	%	12/21/2029	14,927		14,654		14,775		1.50	%
Precision Aviation Group (Delayed Draw)	(12)	First Lien Term Loan	S + 5.25%	9.97	%	12/21/2029	4,948		4,905		4,898		0.49	%
Prime Buyer, L.L.C.	(6)	First Lien Term Loan	S + 5.25%	10.20	%	12/22/2026	6,501		6,458		6,501		0.66	%
Turbine Engine Specialists	(12)	Subordinated Debt	S + 9.50%	14.25	%	3/1/2029	2,537		2,482		2,533		0.26	%
Valkyrie / Hill Technical Solutions	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,858		2,821		2,813		0.28	%
Total Aerospace & Defense									65,517		66,130		6.68	%

Automotive
Covercraft	(12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	7,520		7,432		6,886		0.70	%
High Bar Brands	(12)	Subordinated Debt	N/A	13.00%		6/19/2030	2,088		2,041		2,060		0.21	%
High Bar Brands (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	13.00	%	6/19/2030	596		(7)		(8)		—	%
JEGS Automotive	(6) (16)	First Lien Term Loan	S + 6.00%	11.43	%	12/22/2027	3,988		3,965		2,556		0.26	%
PGW Auto Glass	(6) (13)	First Lien Term Loan	S + 5.00%	10.43	%	4/18/2028	12,563		12,482		12,493		1.26	%
PGW Auto Glass	(12)	First Lien Term Loan	S + 5.00%	10.25	%	4/18/2028	2,431		2,408		2,418		0.24	%
Randy's Worldwide Automotive	(6) (9) (12) (13)	First Lien Term Loan	S + 6.25%	11.54	%	11/1/2028	11,053		10,886		10,928		1.10	%
Randy's Worldwide Automotive (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.25%	11.51	%	11/1/2028	3,747		1,111		1,069		0.11	%
S&S Truck Parts	(6)	First Lien Term Loan	S + 5.00%	10.39	%	3/1/2029	6,806		6,757		6,737		0.68	%
S&S Truck Parts	(6)	First Lien Term Loan	S + 5.00%	10.39	%	3/1/2029	1,150		1,142		1,139		0.11	%
S&S Truck Parts (Delayed Draw)	(6)	First Lien Term Loan	S + 5.00%	9.95	%	3/1/2029	98		98		97		0.01	%
S&S Truck Parts (Delayed Draw)	(6)	First Lien Term Loan	S + 5.00%	10.35	%	3/1/2029	1,712		1,712		1,694		0.17	%
S&S Truck Parts	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.95	%	3/1/2029	20,084		19,894		19,882		2.01	%
Total Automotive									69,921		67,951		6.86	%


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
Ascend	(12) (13)	First Lien Term Loan	S + 4.50%	9.35	%	8/11/2031	7,358	7,285	7,288	0.74	%
Ascend (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.50%	9.35	%	8/11/2031	12,642	(62)	(120)	(0.01	%)
Long Term Care Group	(6) (9) (12)	First Lien Term Loan	S + 1.00%	6.54% (Cash) 6.00% (PIK)		9/8/2027	7,162	7,140	6,465	0.65	%
Patriot Growth (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.00%	9.75	%	10/16/2028	7,118	7,068	7,040	0.71	%
RSC Acquisition Inc (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 4.75%	9.69	%	11/1/2029	9,769	9,769	9,720	0.98	%
Vensure	(9) (12)	First Lien Term Loan	S + 5.00%	9.64	%	9/27/2031	2,570	2,545	2,546	0.26	%
Vensure (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.64	%	9/27/2031	730	(4)	(7)	—	%
World Insurance Associates, LLC	(6) (9) (12)	First Lien Term Loan	S + 6.00%	10.60	%	4/3/2028	14,769	14,759	14,755	1.48	%
Total Banking, Finance, Insurance, Real Estate								48,500	47,687	4.81	%

Beverage, Food & Tobacco
AmerCareRoyal	(6)	First Lien Term Loan	S + 5.00%	9.85	%	9/10/2030	720	713	713	0.07	%
AmerCareRoyal (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	9/10/2030	165	—	(2)	—	%
AmerCareRoyal (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	9/10/2030	115	(1)	(1)	—	%
Bardstown Bourbon Company	(12)	Subordinated Debt	S + 7.75%	12.96	%	8/30/2027	9,300	9,178	9,214	0.93	%
Commercial Bakeries	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	10.10	%	9/25/2029	17,152	16,858	16,936	1.71	%
Commercial Bakeries	(6) (7) (10)	First Lien Term Loan	S + 5.50%	10.60	%	9/25/2029	2,029	2,013	2,004	0.20	%
Death Wish Coffee	(6) (9) (13)	First Lien Term Loan	S + 4.75%	9.45	%	9/28/2027	9,725	9,673	9,725	0.98	%
Dessert Holdings	(6) (9) (12)	Subordinated Debt	S + 7.25%	12.21	%	6/8/2029	9,000	8,888	8,014	0.81	%
Dessert Holdings	(10) (13) (14)	First Lien Term Loan	S + 4.00%	8.96	%	6/9/2028	5,545	5,408	5,263	0.53	%
Fresh Edge	(12)	Subordinated Debt	S + 4.50%	9.92% (Cash) 5.13% (PIK)		4/3/2029	4,006	3,934	3,924	0.40	%
Fresh Edge	(12)	Subordinated Debt	S + 4.50%	9.92% (Cash) 5.13% (PIK)		4/3/2029	800	784	783	0.08	%
Fresh Edge	(12)	Subordinated Debt	S + 4.50%	9.92% (Cash) 5.13% (PIK)		4/3/2029	947	926	927	0.09	%
Handgards, LLC	(6) (12) (13)	First Lien Term Loan	S + 5.50%	9.86%		4/10/2031	29,925	29,636	30,218	3.05	%
KSLB Holdings LLC	(13)	First Lien Term Loan	S + 4.50%	9.90	%	7/30/2025	2,828	2,820	2,743	0.28	%
Rise Baking	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.41	%	8/13/2027	14,588	14,465	14,588	1.47	%
Rise Baking (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	10.66	%	8/13/2027	4,421	4,403	4,421	0.45	%
Rise Baking	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.66	%	8/13/2027	10,819	10,767	10,819	1.09	%
Summit Hill Foods	(6)	First Lien Term Loan	S + 5.75%	10.81	%	11/29/2029	8,944	8,822	8,910	0.90	%
Sunny Sky Products	(6) (12) (13)	First Lien Term Loan	S + 4.75%	9.35	%	12/23/2028	7,040	6,979	6,976	0.70	%


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

Sunny Sky Products (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	9.35	%	12/23/2028	1,773	—	(16)	—	%
Tech24	(6) (12) (13)	First Lien Term Loan	S + 5.75%	10.35	%	9/18/2029	13,214	13,011	13,008	1.31	%
Tech24 (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	10.64	%	9/18/2029	4,828	2,194	2,135	0.22	%
Watermill Express (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	10.50	%	7/5/2029	2,376	574	580	0.06	%
Watermill Express (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	10.60	%	7/5/2029	3,170	3,170	3,170	0.32	%
Watermill Express	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.50	%	7/5/2029	6,327	6,270	6,327	0.64	%
Watermill Express	(6) (9)	First Lien Term Loan	S + 5.75%	10.50	%	7/5/2029	3,229	3,213	3,229	0.33	%
Watermill Express (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.75%	10.50	%	7/5/2029	312	312	312	0.03	%
Total Beverage, Food & Tobacco								165,010	164,920	16.65	%

Capital Equipment
Clean Solutions Buyer	(6)	First Lien Term Loan	S + 4.50%	9.35	%	9/9/2030	1,000	990	990	0.10	%
Crete	(6)	First Lien Term Loan	S + 4.75%	9.35	%	5/19/2028	4,786	4,755	4,805	0.49	%
Crete (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	9.87	%	5/19/2028	2,823	2,791	2,834	0.29	%
Crete (Delayed Draw)	(12)	First Lien Term Loan	S + 4.75%	9.36%		5/19/2028	7,097	7,097	7,125	0.72	%
EFC International	(12)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,248	3,175	3,245	0.33	%
E-Technologies / Superior	(6) (13)	First Lien Term Loan	S + 5.50%	10.35	%	4/9/2030	7,295	7,226	7,149	0.72	%
Firstcall Mechanical Group	(12) (13)	First Lien Term Loan	S + 4.75%	9.35	%	6/27/2030	9,975	9,878	9,876	1.00	%
Firstcall Mechanical Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	9.61	%	6/27/2030	20,000	(24)	(198)	(0.02	%)
Helios Buyer, Inc.	(6) (9) (13)	First Lien Term Loan	S + 6.00%	10.70	%	12/15/2026	6,417	6,387	6,080	0.61	%
Helios Buyer, Inc. (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	10.70	%	12/15/2026	5,565	5,550	5,272	0.53	%
Helios Buyer, Inc. (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.00%	10.70	%	12/15/2026	2,552	2,552	2,417	0.24	%
Hyperion	(12) (13) (14)	First Lien Term Loan	S + 4.50%	9.46	%	8/30/2028	2,634	2,630	2,458	0.25	%
Ovation Holdings	(6) (13)	First Lien Term Loan	S + 5.00%	10.40	%	2/5/2029	7,974	7,838	7,967	0.80	%
Ovation Holdings (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.40	%	2/5/2029	1,887	1,526	1,543	0.16	%
Precision Surfacing Solutions	(12)	First Lien Term Loan	N/A	15.00	%	11/30/2024	713	713	713	0.07	%
PT Intermediate Holdings III, LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 3.25%	5.33% (Cash) 3.25% (PIK)		4/9/2030	12,222	12,183	12,240	1.24	%
PT Intermediate Holdings III, LLC (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 3.25%	5.33% (Cash) 3.25% (PIK)		4/9/2030	1,106	(1)	2	—	%
Rhino Tool House	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.43	%	4/4/2029	8,737	8,604	8,670	0.88	%
Rhino Tool House (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.61	%	4/4/2029	1,871	1,829	1,821	0.18	%
Service Logic	(6) (9)	First Lien Term Loan	S + 3.50%	8.31	%	10/29/2027	7,939	7,956	7,939	0.80	%


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

Vessco	(6) (9) (12) (13)	First Lien Term Loan	S + 5.25%	10.22	%	7/24/2031	13,706	13,570	13,577	1.37	%
Vessco (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.25%	9.54	%	7/24/2031	4,569	648	627	0.06	%
Vessco	(9) (11) (12)	Revolving Loan	S + 5.25%	10.39	%	7/24/2031	1,726	(17)	(16)	—	%
Total Capital Equipment								107,856	107,136	10.82	%

Chemicals, Plastics, & Rubber
Ascensus	(6) (9) (13)	First Lien Term Loan	S + 4.25%	9.20	%	6/30/2028	9,656	9,535	8,234	0.83	%
Boulder Scientific Company LLC	(6)	First Lien Term Loan	S + 5.00%	10.38	%	12/28/2025	2,046	2,055	1,973	0.20	%
Chroma Color	(6)	First Lien Term Loan	S + 6.00%	11.28	%	4/23/2029	6,266	6,165	6,220	0.63	%
Chroma Color (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.28	%	4/23/2029	1,379	(11)	(10)	—	%
Spartech	(6) (9) (12) (13) (14)	First Lien Term Loan	S + 4.75%	10.05	%	5/6/2028	14,655	14,598	11,458	1.15	%
Total Chemicals, Plastics, & Rubber								32,342	27,875	2.81	%

Construction & Building
Allstar Holdings	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	2,162	2,109	2,107	0.21	%
Allstar Holdings (Delayed Draw)	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	4,115	4,065	4,010	0.40	%
Allstar Holdings (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	6,212	5,142	5,062	0.51	%
Erie Construction	(6) (13)	First Lien Term Loan	S + 4.75%	10.09	%	7/30/2027	9,741	9,688	9,741	0.98	%
Gannett Fleming	(9) (12) (13)	First Lien Term Loan	S + 4.50%	9.67	%	8/5/2030	17,869	17,605	17,606	1.78	%
Gannett Fleming	(9) (11) (12)	Revolving Loan	S + 4.50%	9.67	%	8/5/2030	2,131	(31)	(31)	—	%
Heartland Paving Partners (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.60	%	8/9/2030	5,714	(14)	(54)	(0.01	%)
Heartland Paving Partners (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.60	%	8/9/2030	5,714	(14)	(54)	(0.01	%)
Heartland Paving Partners	(6)	First Lien Term Loan	S + 5.00%	9.60	%	8/9/2030	8,571	8,486	8,490	0.87	%
ICE USA Infrastructure LLC	(6) (13)	First Lien Term Loan	S + 5.25%	9.85	%	3/15/2030	6,588	6,526	6,524	0.66	%
MEI Buyer LLC	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.85	%	6/29/2029	11,345	11,151	11,347	1.15	%
MEI Buyer LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	6/29/2029	1,814	(7)	—	—	%
RMA Companies (Delayed Draw)	(6) (10) (12)	First Lien Term Loan	S + 5.75%	10.70	%	12/30/2027	4,593	4,586	4,568	0.46	%
RMA Companies (Delayed Draw)	(10) (11) (12)	First Lien Term Loan	S + 5.75%	10.70	%	12/30/2027	3,133	1,184	1,173	0.12	%
RMA Companies	(6) (10)	First Lien Term Loan	S + 5.75%	10.70	%	12/30/2027	3,095	3,057	3,078	0.31	%
Sciens Building Solutions, LLC	(6) (9)	First Lien Term Loan	S + 5.75%	10.79	%	12/15/2027	9,243	9,132	9,243	0.94	%
Sciens Building Solutions, LLC (Delayed Draw)	(6) (9) (12) (13)	First Lien Term Loan	S + 5.75%	11.04	%	12/15/2027	4,882	4,855	4,882	0.49	%


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)

WSB / EST	(6) (12)	First Lien Term Loan	S + 6.00%	11.06	%	8/31/2029	6,470	6,387	6,384	0.64	%
WSB / EST (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.00%	11.25	%	8/31/2029	4,334	3,000	2,969	0.30	%
Total Construction & Building								96,907	97,045	9.80	%

Consumer Goods: Durable
Halo Buyer, Inc.	(6) (14)	First Lien Term Loan	S + 4.50%	9.45	%	6/30/2025	5,622	5,608	5,171	0.52	%
SmartSign	(6) (13)	First Lien Term Loan	S + 5.50%	10.55	%	9/7/2028	9,800	9,732	9,800	0.99	%
SmartSign	(6)	First Lien Term Loan	S + 5.75%	10.78	%	9/7/2028	4,987	4,907	4,987	0.50	%
Total Consumer Goods: Durable								20,247	19,958	2.01	%

Consumer Goods: Non-durable
ACP Tara Holdings, Inc.	(6) (9) (13)	First Lien Term Loan	S + 4.50%	9.20	%	9/10/2027	12,507	12,440	12,507	1.26	%
ACP Tara Holdings, Inc.	(6) (9)	First Lien Term Loan	S + 5.75%	10.45	%	9/10/2027	1,816	1,790	1,834	0.19	%
Elevation Labs	(6) (13)	First Lien Term Loan	S + 5.25%	10.60	%	6/30/2028	6,738	6,692	6,724	0.68	%
Elevation Labs (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.45	%	6/30/2028	3,120	913	927	0.09	%
FoodScience LLC	(6) (12)	First Lien Term Loan	S + 5.25%	10.20	%	3/1/2027	14,512	14,411	14,512	1.46	%
Market Performance Group	(6) (13)	First Lien Term Loan	S + 5.25%	9.85	%	1/8/2030	12,556	12,442	12,682	1.28	%
Market Performance Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.51	%	1/8/2030	3,083	1,231	1,262	0.13	%
PIP	(6) (13)	First Lien Term Loan	S + 4.00%	8.96	%	12/29/2027	9,075	9,059	9,054	0.91	%
Ultima	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		3/12/2029	1,754	1,728	1,754	0.18	%
Total Consumer Goods: Non-durable								60,706	61,256	6.18	%

Containers, Packaging & Glass
B2B/AMW Acquisition Company, Inc.	(6) (13)	First Lien Term Loan	S + 6.75%	12.31	%	10/7/2026	14,584	14,562	13,809	1.39	%
B2B/AMW Acquisition Company, Inc.	(6)	First Lien Term Loan	S + 6.75%	12.33	%	10/7/2026	115	114	109	0.01	%
Five Star Packaging	(6) (13) (14)	First Lien Term Loan	S + 4.25%	9.19	%	5/5/2029	7,519	7,436	7,365	0.74	%
Good2Grow	(6) (13)	First Lien Term Loan	S + 4.50%	9.71	%	12/1/2027	8,699	8,648	8,624	0.87	%
Good2Grow	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.71	%	12/1/2027	6,314	6,238	6,314	0.64	%
Good2Grow	(6) (13)	First Lien Term Loan	S + 4.75%	9.96	%	12/1/2027	14,302	14,173	14,277	1.44	%
Oliver Inc	(12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		1/6/2029	2,510	2,477	2,359	0.24	%
Oliver Inc	(12)	Subordinated Debt	N/A	12.50	%	1/6/2029	465	456	460	0.05	%
Online Labels Group	(13)	First Lien Term Loan	S + 5.25%	9.85	%	12/19/2029	3,304	3,274	3,304	0.33	%
Online Labels Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	9.85	%	12/19/2029	403	—	—	—	%


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)

Online Labels Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	9.85	%	12/19/2029	403	—	—	—	%
Specialized Packaging Group (SPG)	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	10.80	%	12/17/2025	2,960	2,950	2,924	0.30	%
Specialized Packaging Group (SPG)	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	10.80	%	12/17/2025	7,219	7,190	7,131	0.72	%
Specialized Packaging Group (SPG)	(7) (10) (13)	First Lien Term Loan	S + 6.25%	11.55	%	12/17/2025	4,376	4,340	4,360	0.44	%
Specialized Packaging Group (SPG)	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 6.25%	11.55	%	12/17/2025	6,843	6,780	6,818	0.69	%
Specialized Packaging Group (SPG)	(7) (10) (12)	First Lien Term Loan	S + 5.75%	10.70	%	12/17/2025	3,299	3,273	3,263	0.33	%
Total Containers, Packaging & Glass								81,911	81,117	8.19	%

Energy: Electricity
Insulation Technology Group	(6) (7) (10) (12) (13)	First Lien Term Loan	S + 5.50%	10.35	%	6/25/2030	22,410	22,192	22,196	2.24	%
Insulation Technology Group (Delayed Draw)	(7) (10) (11) (12)	First Lien Term Loan	S + 5.50%	10.35	%	6/25/2030	5,912	—	(57)	(0.01	%)
MGM Transformer Company	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.82	%	10/31/2029	23,435	23,276	23,237	2.34	%
MGM Transformer Company (Delayed Draw)	(12)	First Lien Term Loan	S + 5.50%	10.10	%	10/31/2029	6,372	6,358	6,318	0.64	%
National Power	(6) (12)	First Lien Term Loan	S + 5.75%	10.60	%	10/22/2029	5,632	5,557	5,609	0.57	%
National Power (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	10.60	%	10/22/2029	3,051	(6)	(12)	—	%
Total Energy: Electricity								57,377	57,291	5.78	%

Environmental Industries
101 Inc	(6)	First Lien Term Loan	S + 5.25%	10.60	%	8/31/2028	6,598	6,554	6,038	0.61	%
Contract Land Staff	(6) (13)	First Lien Term Loan	S + 4.75%	9.35	%	3/27/2030	7,526	7,453	7,454	0.75	%
Contract Land Staff (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	9.86	%	3/27/2030	3,025	3,018	2,996	0.30	%
Contract Land Staff (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	10.28	%	3/27/2030	4,999	(12)	(48)	—	%
Impact Environmental Group	(6) (12)	First Lien Term Loan	S + 5.00%	9.70	%	3/23/2029	6,725	6,612	6,724	0.68	%
Impact Environmental Group (Delayed Draw)	(6)	First Lien Term Loan	S + 5.00%	9.70	%	3/23/2029	3,142	3,128	3,142	0.32	%
Impact Environmental Group (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.71	%	3/23/2029	6,800	3,117	3,145	0.32	%
Impact Environmental Group	(6)	First Lien Term Loan	S + 5.00%	9.70	%	3/23/2029	1,723	1,694	1,723	0.17	%
Leo Facilities	(6) (12)	First Lien Term Loan	S + 5.50%	10.76	%	7/3/2029	8,486	8,374	8,375	0.85	%
Leo Facilities (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.48	%	7/3/2029	6,417	4,732	4,661	0.47	%
Leo Facilities	(6)	First Lien Term Loan	S + 5.50%	9.75	%	7/3/2029	1,593	1,577	1,572	0.16	%
Leo Facilities (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.76	%	7/3/2029	13,446	—	(176)	(0.02	%)
SI Solutions	(6)	First Lien Term Loan	S + 4.75%	9.60	%	8/15/2030	11,902	11,785	11,788	1.19	%


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)

SI Solutions (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	9.60	%	8/15/2030	5,601	(14)	(54)	(0.01	%)
The Facilities Group	(6) (9)	First Lien Term Loan	S + 5.75%	11.10	%	11/30/2027	4,835	4,809	4,793	0.48	%
The Facilities Group	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.96	%	11/30/2027	8,975	8,903	8,899	0.91	%
The Facilities Group (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.75%	10.64	%	11/30/2027	4,914	4,914	4,873	0.49	%
The Facilities Group (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	10.59	%	11/30/2027	5,027	166	124	0.01	%
Total Environmental Industries								76,810	76,029	7.68	%

Healthcare & Pharmaceuticals
Action Behavior Centers	(12) (13)	First Lien Term Loan	S + 5.25%	10.57	%	7/2/2031	15,673	15,518	15,529	1.58	%
Action Behavior Centers (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.57	%	7/2/2031	2,850	(7)	(26)	—	%
Affinity Hospice	(6) (12)	First Lien Term Loan	S + 4.75%	9.45	%	12/17/2027	7,812	7,764	6,881	0.69	%
Anne Arundel	(12) (16)	Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	3,282	3,261	540	0.05	%
Anne Arundel	(12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/16/2026	1,972	1,963	746	0.08	%
Anne Arundel	(12)	First Lien Term Loan	N/A	4.71% (PIK)		1/15/2026	516	516	516	0.05	%
Anne Arundel (Delayed Draw)	(11) (12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/16/2026	2,396	2,025	539	0.05	%
Coding Solutions Acquisition Inc.	(9) (12) (13)	First Lien Term Loan	S + 5.00%	9.25	%	8/7/2031	11,995	11,913	11,881	1.20	%
Coding Solutions Acquisition Inc. (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	10.01	%	8/7/2031	2,165	(5)	(21)	—	%
Coding Solutions Acquisition Inc.	(9) (11) (12)	Revolving Loan	S + 5.00%	10.01	%	8/7/2031	1,246	299	300	0.03	%
EyeSouth	(6) (13)	First Lien Term Loan	S + 5.50%	10.45	%	10/5/2029	7,417	7,358	7,275	0.73	%
EyeSouth (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.46	%	10/5/2029	2,431	1,546	1,500	0.15	%
Forefront Dermatology	(6) (9) (14)	First Lien Term Loan	S + 4.25%	9.10	%	3/30/2029	3,289	3,249	3,143	0.32	%
Genesee Scientific LLC	(6) (9)	First Lien Term Loan	S + 5.75%	10.10	%	9/30/2027	5,913	5,882	5,329	0.54	%
Genesee Scientific LLC (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	10.10	%	9/30/2027	1,548	1,548	1,395	0.14	%
GHR Healthcare	(6) (9)	First Lien Term Loan	S + 5.00%	9.95	%	12/9/2027	6,352	6,315	6,205	0.63	%
GHR Healthcare (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.00%	9.95	%	12/9/2027	1,987	1,987	1,941	0.20	%
GHR Healthcare (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.25%	10.20	%	12/9/2027	1,946	—	(45)	—	%
GHR Healthcare (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.25%	10.20	%	12/9/2027	648	—	(15)	—	%
GHR Healthcare	(6) (9) (13)	First Lien Term Loan	S + 5.00%	9.95	%	12/9/2027	4,945	4,878	4,830	0.49	%
GHR Healthcare	(9) (12) (13)	First Lien Term Loan	S + 5.00%	9.95	%	12/9/2027	8,068	7,993	7,881	0.80	%
GHR Healthcare	(6) (9) (13)	First Lien Term Loan	S + 5.25%	10.20	%	12/9/2027	3,751	3,716	3,664	0.37	%
Health Management Associates	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.37	%	3/30/2029	8,264	8,128	8,242	0.83	%
Health Management Associates (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.22	%	3/30/2029	1,497	715	738	0.07	%
Heartland Veterinary Partners (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	14.50	%	12/10/2027	3,600	1,400	1,371	0.14	%


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)

Heartland Veterinary Partners (Delayed Draw)	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	9,841	9,841	9,760	0.99	%
Heartland Veterinary Partners	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	1,968	1,946	1,952	0.20	%
HemaSource	(12)	Subordinated Debt	N/A	8.50% (Cash) 5.00% (PIK)		2/28/2030	5,292	5,165	5,276	0.53	%
Infucare	(6) (13)	First Lien Term Loan	S + 4.25%	8.95	%	1/4/2028	6,942	6,900	6,942	0.70	%
Midwest Eye Services, LLC	(6) (13)	First Lien Term Loan	S + 4.50%	9.45	%	8/20/2027	8,952	8,906	8,946	0.90	%
Mosaic Dental	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	1,779	1,745	1,725	0.17	%
Mosaic Dental (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	728	468	452	0.05	%
Prime Time Healthcare	(6) (12) (13)	First Lien Term Loan	S + 6.00%	11.36	%	9/19/2028	7,833	7,657	7,803	0.79	%
Prime Time Healthcare	(12) (13)	First Lien Term Loan	S + 6.00%	11.21	%	9/19/2028	9,738	9,571	9,700	0.98	%
Prompt Care (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	10.95	%	9/1/2027	2,871	1,434	1,425	0.14	%
Prompt Care	(6) (9)	First Lien Term Loan	S + 6.00%	11.02	%	9/1/2027	8,141	8,087	8,117	0.82	%
Prompt Care (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 6.00%	11.02	%	9/1/2027	1,268	1,264	1,264	0.13	%
QHR Holdco, Inc.	(6) (10) (13)	First Lien Term Loan	S + 5.25%	10.20	%	5/28/2027	7,621	7,577	7,678	0.78	%
QHR Holdco, Inc. (Delayed Draw)	(6)	First Lien Term Loan	S + 5.25%	10.20	%	5/28/2027	3,223	3,217	3,247	0.33	%
QHR Holdco, Inc.	(6) (13)	First Lien Term Loan	S + 5.25%	10.20	%	5/28/2027	3,223	3,185	3,247	0.33	%
Smile Brands	(12)	Subordinated Debt	S + 9.62%	14.69% (PIK)		4/12/2028	11,139	11,087	9,428	0.95	%
Solis Mammography	(6) (12) (13)	First Lien Term Loan	S + 4.50%	10.01	%	4/17/2028	13,056	12,989	12,925	1.30	%
Southern Veterinary Partners	(9) (13) (14)	First Lien Term Loan	S + 3.75%	8.00	%	10/5/2027	4,760	4,755	4,775	0.48	%
Team Services Group	(6) (14)	First Lien Term Loan	S + 5.00%	10.51	%	12/20/2027	6,616	6,585	6,554	0.66	%
Thorne HealthTech	(6) (13)	First Lien Term Loan	S + 5.50%	10.35%		10/16/2030	10,572	10,477	10,592	1.07	%
TIDI Products	(6) (9) (12) (13)	First Lien Term Loan	S + 5.50%	10.35	%	12/19/2029	15,406	15,268	15,450	1.56	%
TIDI Products (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.35	%	12/19/2029	4,085	—	12	—	%
US Fertility	(12)	Subordinated Debt	N/A	4.00% (Cash) 9.75% (PIK)		6/21/2028	13,475	13,211	13,411	1.35	%
VMG Health	(6) (13)	First Lien Term Loan	S + 5.00%	9.60	%	4/16/2030	15,932	15,779	15,777	1.59	%
Wellspring	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.70%		8/22/2028	7,330	7,283	7,259	0.73	%
Wellspring	(6)	First Lien Term Loan	S + 5.00%	10.36	%	8/22/2028	3,353	3,305	3,320	0.34	%
Wellspring (Delayed Draw)	(12)	First Lien Term Loan	S + 5.00%	9.70	%	8/22/2028	1,559	1,551	1,544	0.16	%
Wellspring (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.70	%	8/22/2028	3,756	2,553	2,530	0.26	%
Wellspring	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.70	%	8/22/2028	1,236	1,217	1,224	0.12	%
Young Innovations	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.87	%	12/3/2029	16,428	16,283	16,276	1.64	%
Young Innovations (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	10.87	%	12/3/2029	3,448	—	(32)	—	%
Total Healthcare & Pharmaceuticals								297,268	288,918	29.19	%


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
AQ Holdco Inc. (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.15	%	4/15/2027	4,210	4,203	3,962	0.40	%
AQ Holdco Inc. (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.75%	11.15	%	4/15/2027	1,081	1,076	1,018	0.10	%
AQ Holdco Inc. (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	11.15	%	4/15/2027	244	243	230	0.02	%
Diligent Corporation (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	10.09	%	8/2/2030	3,830	(18)	—	—	%
Diligent Corporation	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	10.09	%	8/2/2030	3,830	3,811	3,830	0.39	%
Diligent Corporation	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	10.09	%	8/2/2030	22,340	22,230	22,342	2.25	%
Eliassen Group, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.35	%	4/14/2028	11,978	11,898	11,978	1.21	%
Eliassen Group, LLC (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.75%	10.88	%	4/14/2028	862	861	862	0.09	%
Evergreen Services Group II	(6) (9) (12) (13)	First Lien Term Loan	S + 5.75%	10.35	%	10/4/2030	16,034	15,815	16,243	1.64	%
Evergreen Services Group II (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.75%	10.35	%	10/4/2030	12,963	12,936	13,132	1.33	%
Exterro, Inc.	(6) (13)	First Lien Term Loan	S + 5.50%	10.67	%	6/1/2027	9,474	9,474	9,593	0.97	%
FineLine	(12)	Subordinated Debt	S + 8.75%	13.62	%	8/19/2028	2,453	2,430	2,453	0.25	%
Go Engineer	(6) (9) (13)	First Lien Term Loan	S + 5.00%	9.60	%	12/21/2027	11,484	11,453	11,355	1.15	%
Go Engineer (Delayed Draw)	(6) (9)	First Lien Term Loan	S + 5.00%	9.60	%	12/21/2027	3,128	3,109	3,092	0.31	%
Go Engineer	(9) (13)	First Lien Term Loan	S + 5.00%	9.60	%	12/21/2027	5,351	5,300	5,291	0.53	%
Infobase	(6)	First Lien Term Loan	S + 5.50%	11.01	%	6/14/2028	4,298	4,268	4,298	0.43	%
ITSavvy	(6)	First Lien Term Loan	S + 5.25%	10.20	%	8/8/2028	7,735	7,682	7,735	0.78	%
North Haven CS Acquisition Inc	(6)	First Lien Term Loan	S + 5.50%	10.93	%	1/23/2025	5,734	5,734	5,792	0.58	%
North Haven CS Acquisition Inc	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.93	%	1/22/2027	22,243	22,062	22,465	2.26	%
Options IT	(9) (12)	First Lien Term Loan	S + 4.75%	9.35	%	9/30/2031	685	678	678	0.07	%
Options IT (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 4.75%	9.35	%	9/30/2031	236	(1)	(2)	—	%
Options IT	(9) (11) (12)	Revolving Loan	S + 4.75%	9.35	%	3/31/2031	79	11	11	—	%
Prosci, Inc.	(6)	First Lien Term Loan	S + 4.50%	9.45	%	10/21/2026	4,733	4,711	4,733	0.48	%
Quickbase	(12) (13)	First Lien Term Loan	S + 4.00%	8.85	%	10/2/2028	6,320	6,295	6,291	0.64	%
SmartWave	(6) (12)	First Lien Term Loan	S + 6.00%	11.40	%	11/5/2026	8,869	8,817	7,486	0.76	%
Solve Industrial	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		6/30/2028	1,878	1,855	1,772	0.18	%
Solve Industrial	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		6/30/2028	806	794	772	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 (Delayed Draw)	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		6/30/2028	2,151	2,151	2,029	0.20	%
Velosio	(6) (9) (13)	First Lien Term Loan	S + 5.25%	10.56	%	3/1/2030	6,216	6,160	6,223	0.63	%
Velosio (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.25%	10.56	%	3/1/2030	1,284	—	1	—	%
Total High Tech Industries								176,038	175,665	17.73	%

Media: Advertising, Printing & Publishing
Tinuiti Inc.	(6) (9) (12)	First Lien Term Loan	S + 5.25%	9.95	%	12/10/2026	2,925	2,909	2,872	0.29	%
Tinuiti Inc. (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 5.25%	9.95	%	12/10/2026	1,912	1,911	1,877	0.19	%
Tinuiti Inc. (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.25%	9.95	%	12/10/2026	9,788	9,788	9,609	0.97	%
Wpromote	(6) (13)	First Lien Term Loan	S + 5.75%	11.05	%	10/23/2028	4,346	4,280	4,351	0.44	%
Wpromote (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.05	%	10/23/2028	588	(3)	1	—	%
Total Media: Advertising, Printing & Publishing								18,885	18,710	1.89	%

Media: Diversified & Production
BroadcastMed	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,615	3,565	3,466	0.35	%
CVI Parent, Inc.	(6)	First Lien Term Loan	S + 4.50%	9.20	%	8/12/2027	2,525	2,502	2,188	0.22	%
CVI Parent, Inc.	(6)	First Lien Term Loan	S + 4.50%	9.20	%	8/12/2027	2,872	2,856	2,489	0.25	%
Spectrio	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.06	%	12/9/2026	8,184	8,152	7,427	0.75	%
Spectrio (Delayed Draw)	(6) (9) (12)	First Lien Term Loan	S + 6.00%	11.06	%	12/9/2026	2,907	2,891	2,638	0.27	%
Spectrio (Delayed Draw)	(9) (13)	First Lien Term Loan	S + 6.00%	11.06	%	12/9/2026	443	442	400	0.04	%
Total Media: Diversified & Production								20,408	18,608	1.88	%

Retail
Syndigo	(6)	First Lien Term Loan	S + 4.50%	9.46	%	12/15/2027	5,790	5,801	5,776	0.58	%
Total Retail								5,801	5,776	0.58	%

Services: Business
ALKU	(12) (13)	First Lien Term Loan	S + 6.25%	10.50	%	5/23/2029	4,485	4,410	4,526	0.46	%
ARMstrong	(6) (13)	First Lien Term Loan	S + 5.75%	10.45	%	10/8/2029	11,361	11,209	11,316	1.13	%
ARMstrong (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.13	%	10/8/2029	3,846	281	290	0.03	%
Bounteous	(12) (13)	First Lien Term Loan	S + 4.75%	9.91	%	8/2/2027	5,306	5,277	5,306	0.54	%
Bounteous	(12)	First Lien Term Loan	S + 4.75%	9.91	%	8/2/2027	2,172	2,160	2,172	0.22	%
Bounteous (Delayed Draw)	(12)	First Lien Term Loan	S + 4.75%	9.91	%	8/2/2027	2,746	2,733	2,746	0.28	%


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)

Bounteous (Delayed Draw)	(12)	First Lien Term Loan	S + 4.75%	9.91	%	8/2/2027	3,550	3,550	3,550	0.36	%
Bullhorn	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	9.85	%	10/1/2029	13,671	13,600	13,632	1.37	%
BusinesSolver	(6) (9)	First Lien Term Loan	S + 5.50%	10.20	%	12/1/2027	7,682	7,636	7,682	0.78	%
BusinesSolver (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.20	%	12/1/2027	1,147	271	274	0.03	%
Caldwell & Gregory	(12)	Subordinated Debt	S + 9.25%	13.85% (PIK)		3/29/2030	1,000	980	980	0.10	%
Career Now	(12)	Subordinated Debt	N/A	13.00% (PIK)		3/30/2027	3,621	3,588	2,560	0.26	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Term Loan	S + 5.50%	9.85	%	9/24/2026	306	304	306	0.03	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Term Loan	S + 5.50%	9.85	%	9/24/2026	2,277	2,268	2,277	0.23	%
Cornerstone Advisors of Arizona, LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 5.50%	9.85	%	9/24/2026	209	208	209	0.02	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Term Loan	S + 5.50%	9.85	%	9/24/2026	3,432	3,404	3,432	0.35	%
CrossCountry Consulting	(6) (9)	First Lien Term Loan	S + 4.75%	9.85	%	6/1/2029	8,112	7,991	8,151	0.82	%
CrossCountry Consulting (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 4.75%	9.85	%	6/1/2029	3,320	(22)	16	—	%
D&H United Fueling Solutions	(6) (13)	First Lien Term Loan	S + 5.50%	10.51	%	9/15/2028	7,434	7,327	7,322	0.74	%
D&H United Fueling Solutions (Delayed Draw)	(6)	First Lien Term Loan	S + 5.50%	10.67	%	9/15/2028	2,366	2,350	2,330	0.24	%
D&H United Fueling Solutions (Delayed Draw)	(6)	First Lien Term Loan	S + 6.00%	11.42	%	9/15/2028	1,559	1,553	1,561	0.16	%
D&H United Fueling Solutions	(6) (13)	First Lien Term Loan	S + 6.00%	10.75	%	9/15/2028	3,439	3,382	3,443	0.35	%
D&H United Fueling Solutions (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.50%	10.90	%	9/15/2028	5,153	1,617	1,563	0.16	%
E78	(12)	First Lien Term Loan	S + 5.50%	10.45	%	12/1/2027	5,557	5,524	5,531	0.56	%
E78	(13)	First Lien Term Loan	S + 5.50%	10.45	%	12/1/2027	1,427	1,418	1,420	0.14	%
E78 (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.51	%	12/1/2027	15,233	—	(71)	(0.01	%)
E78 (Delayed Draw)	(12) (13)	First Lien Term Loan	S + 5.50%	10.45	%	12/1/2027	4,178	4,154	4,159	0.42	%
E78 (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.51	%	12/1/2027	3,531	3,126	3,109	0.31	%
Engage	(6) (9) (13)	First Lien Term Loan	S + 5.00%	9.85	%	8/1/2029	9,594	9,467	9,502	0.96	%
Engage (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	8/1/2029	9,295	4,136	4,066	0.41	%
Engage (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	8/1/2029	1,074	(3)	(10)	—	%
Esquire Deposition Services	(12)	Subordinated Debt	N/A	14.00% (PIK)		6/30/2029	1,738	1,698	1,696	0.17	%
Evergreen Services Group	(6) (9) (12) (13)	First Lien Term Loan	S + 6.25%	10.96	%	6/15/2029	11,875	11,694	11,875	1.20	%
Evergreen Services Group (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 6.25%	10.96	%	6/15/2029	2,841	2,820	2,841	0.29	%
Gabriel Partners, LLC	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.46	%	9/21/2026	9,120	9,085	9,120	0.92	%
Gabriel Partners, LLC (Delayed Draw)	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.46	%	9/21/2026	1,519	1,519	1,519	0.15	%
Gabriel Partners, LLC	(6) (9) (13)	First Lien Term Loan	S + 6.25%	11.46	%	9/21/2026	3,765	3,749	3,765	0.38	%


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)

Image First	(6) (12) (13)	First Lien Term Loan	S + 4.25%	8.85	%	4/27/2028	7,771	7,756	7,771	0.78	%
Integrated Power Services (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.50%	9.46	%	11/22/2028	5,112	(13)	—	—	%
Integrated Power Services	(12)	First Lien Term Loan	S + 4.50%	9.46	%	11/22/2028	2,045	2,042	2,045	0.21	%
Lion Merger Sub, Inc.	(9) (13)	First Lien Term Loan	S + 6.50%	11.20	%	12/17/2025	7,265	7,242	7,124	0.72	%
Lion Merger Sub, Inc.	(9) (12) (13)	First Lien Term Loan	S + 6.50%	11.20	%	12/17/2025	7,241	7,198	7,101	0.72	%
LSCS Holdings, Inc. (Dohmen)	(6) (12) (13)	First Lien Term Loan	S + 4.50%	9.46	%	12/16/2028	9,936	9,897	9,891	1.00	%
LYNX FRANCHISING, LLC	(6) (9)	First Lien Term Loan	S + 6.25%	11.46	%	12/23/2026	9,725	9,656	9,713	0.98	%
LYNX FRANCHISING, LLC	(9) (12) (13)	First Lien Term Loan	S + 6.25%	11.46	%	12/23/2026	6,740	6,616	6,798	0.69	%
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	(6) (7) (10) (13)	First Lien Term Loan	S + 5.50%	10.45	%	8/22/2029	13,448	13,348	13,194	1.33	%
PLZ Aeroscience	(12)	Subordinated Debt	S + 7.50%	12.46	%	7/7/2028	13,500	13,242	12,399	1.25	%
Press Ganey	(9) (12) (13) (14)	First Lien Term Loan	S + 3.50%	8.35	%	4/30/2031	5,855	5,798	5,849	0.59	%
Propark Mobility	(6)	First Lien Term Loan	S + 5.00%	9.85	%	1/31/2029	6,772	6,670	6,766	0.68	%
Propark Mobility (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.80	%	1/31/2029	3,114	2,647	2,690	0.27	%
Propark Mobility (Delayed Draw)	(12)	First Lien Term Loan	S + 6.25%	10.31	%	1/31/2029	10,198	10,173	10,190	1.03	%
Province	(12) (13)	First Lien Term Loan	S + 5.25%	10.10	%	7/1/2030	5,194	5,143	5,146	0.52	%
Riveron	(6) (12) (13)	First Lien Term Loan	S + 6.25%	11.10	%	7/6/2029	10,683	10,425	10,576	1.07	%
Riveron (Delayed Draw)	(12)	First Lien Term Loan	S + 6.25%	11.04	%	7/6/2029	1,603	1,586	1,586	0.16	%
Safety Infrastructure Services	(12) (13)	First Lien Term Loan	S + 4.75%	9.35	%	7/21/2028	7,103	7,034	7,035	0.71	%
Scaled Agile	(6) (9)	First Lien Term Loan	S + 5.50%	10.20	%	12/15/2028	7,875	7,820	7,048	0.71	%
Scaled Agile (Delayed Draw)	(9) (12)	First Lien Term Loan	S + 5.50%	10.89	%	12/15/2028	387	387	347	0.04	%
System One	(6) (12)	First Lien Term Loan	S + 3.75%	8.50	%	3/2/2028	3,212	3,212	3,212	0.32	%
Technical Safety Services	(6)	First Lien Term Loan	S + 5.50%	10.45	%	6/22/2029	6,720	6,669	6,720	0.68	%
Technical Safety Services (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.45	%	6/22/2029	6,371	4,677	4,740	0.48	%
Technical Safety Services	(6) (12)	First Lien Term Loan	S + 5.50%	10.45	%	6/22/2029	1,876	1,851	1,876	0.19	%
Trilon Group	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.95	%	5/27/2029	27,826	27,663	27,561	2.77	%
Trilon Group (Delayed Draw)	(12)	First Lien Term Loan	S + 5.50%	10.90	%	5/29/2029	1,875	1,866	1,857	0.19	%
Vistage	(6) (9)	First Lien Term Loan	S + 4.75%	9.35	%	7/13/2029	4,952	4,929	4,959	0.50	%
Vital Records Control	(6) (9)	First Lien Term Loan	S + 5.50%	11.01	%	6/29/2027	4,547	4,517	4,547	0.46	%
Vital Records Control	(6) (9)	First Lien Term Loan	S + 5.75%	10.88	%	6/29/2027	331	328	331	0.03	%
Total Services: Business								335,835	334,230	33.74	%

Services: Consumer
360 Training	(13)	First Lien Term Loan	S + 5.00%	9.85	%	8/2/2028	3,447	3,416	3,447	0.35	%


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)

360 Training (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	8/2/2028	3,093	—	—	—	%
All My Sons	(6)	First Lien Term Loan	S + 4.75%	9.71	%	10/25/2028	5,219	5,185	5,186	0.52	%
Apex Services (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.86	%	10/24/2030	154	16	16	—	%
Apex Services (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.86	%	10/24/2030	156	(1)	(2)	—	%
Apex Services	(9) (11) (12)	Revolving Loan	S + 5.00%	9.86	%	10/24/2029	55	(1)	(1)	—	%
Apex Services	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.86	%	10/24/2030	635	(6)	(6)	—	%
Excel Fitness	(6) (13)	First Lien Term Loan	S + 5.25%	9.85	%	4/27/2029	9,850	9,763	9,761	0.99	%
Excel Fitness (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.50%	10.10	%	4/27/2029	2,371	(16)	—	—	%
Fairway Lawns	(12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	2,871	2,813	2,804	0.28	%
Fairway Lawns (Delayed Draw)	(12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	6,597	6,597	6,443	0.65	%
Fairway Lawns (Delayed Draw)	(11) (12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	6,234	2,874	2,729	0.28	%
Legacy Service Partners	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.00	%	1/9/2029	10,085	9,927	10,037	1.02	%
Legacy Service Partners (Delayed Draw)	(6)	First Lien Term Loan	S + 5.25%	10.14	%	1/9/2029	4,700	4,683	4,678	0.47	%
Liberty Group	(6) (9) (13)	First Lien Term Loan	S + 5.75%	11.12	%	6/15/2028	3,899	3,872	3,899	0.39	%
Liberty Group (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.75%	10.93	%	6/15/2028	742	293	293	0.03	%
NearU	(6) (9) (12) (13)	First Lien Term Loan	S + 6.00%	11.03	%	8/16/2028	8,673	8,633	8,270	0.83	%
NearU (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.54	%	8/16/2028	1,220	—	(57)	(0.01	%)
NearU (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.54	%	8/16/2028	1,427	—	(66)	(0.01	%)
NearU (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 6.00%	11.54	%	8/16/2028	145	—	(7)	—	%
NJEye, LLC	(6)	First Lien Term Loan	S + 4.75%	10.25	%	3/14/2025	5,298	5,291	5,298	0.53	%
NJEye, LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 4.75%	10.23	%	3/14/2025	694	694	694	0.07	%
NJEye, LLC (Delayed Draw)	(12)	First Lien Term Loan	S + 4.75%	10.03	%	3/14/2025	884	883	884	0.09	%
NJEye, LLC	(6)	First Lien Term Loan	S + 4.75%	10.31	%	3/14/2025	883	883	883	0.09	%
North Haven Spartan US Holdco LLC	(6)	First Lien Term Loan	S + 5.75%	10.69	%	6/8/2026	2,483	2,482	2,483	0.25	%
North Haven Spartan US Holdco LLC (Delayed Draw)	(6)	First Lien Term Loan	S + 5.75%	10.85	%	6/8/2026	215	215	215	0.02	%
North Haven Spartan US Holdco LLC (Delayed Draw)	(11) (13)	First Lien Term Loan	S + 5.75%	11.00	%	6/8/2026	3,260	(8)	—	—	%
One World Fitness PFF, LLC	(6)	First Lien Term Loan	S + 5.25%	9.95% (Cash) 1.00% (PIK)		11/26/2025	3,879	3,880	3,670	0.37	%
Palmetto Exterminators	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	864	844	843	0.09	%
Palmetto Exterminators (Delayed Draw)	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	660	652	644	0.07	%
Perennial Services Group	(6)	First Lien Term Loan	S + 5.50%	10.66	%	9/7/2029	6,682	6,598	6,749	0.68	%
Perennial Services Group (Delayed Draw)	(6) (12)	First Lien Term Loan	S + 5.50%	10.66	%	9/7/2029	5,980	5,971	6,040	0.61	%


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)

Repipe Specialists	(12)	Subordinated Debt	N/A	3.33% (Cash) 9.17% (PIK)		3/18/2029	2,552	2,516	2,005	0.20	%
Repipe Specialists (Delayed Draw)	(12)	Subordinated Debt	N/A	3.33% (Cash) 9.17% (PIK)		3/18/2029	221	221	173	0.02	%
Total Services: Consumer								89,170	88,005	8.88	%

Sovereign & Public Finance
LMI	(6) (12) (13)	First Lien Term Loan	S + 5.50%	10.36	%	7/18/2028	12,163	12,058	12,216	1.23	%
Total Sovereign & Public Finance								12,058	12,216	1.23	%

Telecommunications
BCM One	(6)	First Lien Term Loan	S + 4.50%	9.08	%	11/17/2027	5,729	5,729	5,729	0.58	%
BCM One (Delayed Draw)	(6)	First Lien Term Loan	S + 4.50%	9.45	%	11/17/2027	1,813	1,813	1,813	0.18	%
MBS Holdings, Inc.	(6) (9)	First Lien Term Loan	S + 6.25%	11.09	%	4/16/2027	1,814	1,790	1,832	0.18	%
MBS Holdings, Inc.	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.59	%	4/16/2027	9,976	9,930	9,976	1.01	%
MBS Holdings, Inc.	(6) (9)	First Lien Term Loan	S + 6.50%	11.34	%	4/16/2027	1,305	1,285	1,318	0.13	%
Mobile Communications America Inc	(6) (12) (13)	First Lien Term Loan	S + 5.25%	10.26	%	10/16/2029	18,367	18,148	18,530	1.87	%
Mobile Communications America Inc (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.25%	10.44	%	10/16/2029	5,968	763	854	0.09	%
Sapphire Telecom Inc	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.60	%	6/27/2029	19,091	18,905	19,051	1.92	%
Tyto Athene	(6) (12)	First Lien Term Loan	S + 4.75%	10.23	%	4/3/2028	7,157	7,112	6,863	0.69	%
Total Telecommunications								65,475	65,966	6.65	%

Transportation: Cargo
Armstrong Transport Group	(12)	Subordinated Debt	N/A	17.00% (PIK)		6/30/2027	1,062	1,043	1,043	0.11	%
Armstrong Transport Group	(12)	Subordinated Debt	N/A	7.00% (Cash) 7.00% (PIK)		6/30/2027	7,484	7,349	7,350	0.74	%
Kamps Pallets	(6) (13)	First Lien Term Loan	S + 6.00%	11.41	%	12/23/2026	9,800	9,686	9,503	0.95	%
Kenco	(6) (12) (13)	First Lien Term Loan	S + 4.25%	8.99	%	11/15/2029	21,939	21,773	22,140	2.24	%
Kenco (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.25%	8.99	%	11/15/2029	3,839	(27)	35	—	%
Kenco (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.25%	8.99	%	11/15/2029	4,111	(39)	38	—	%
Quantix SCS, LLC	(6) (9)	First Lien Term Loan	S + 6.75%	12.22	%	8/3/2026	256	255	242	0.02	%
Quantix SCS, LLC	(6) (9)	First Lien Term Loan	S + 6.75%	12.22	%	8/3/2026	888	886	840	0.08	%
Quantix SCS, LLC	(6) (9)	First Lien Term Loan	S + 6.75%	12.22	%	8/3/2026	180	179	170	0.02	%
Quantix SCS, LLC	(6) (9)	First Lien Term Loan	S + 6.75%	12.22	%	8/3/2026	4,333	4,324	4,102	0.41	%
Quantix SCS, LLC	(9) (13)	First Lien Term Loan	S + 6.75%	12.22	%	8/3/2026	1,348	1,341	1,277	0.13	%
RoadOne	(12)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	4,882	4,772	4,749	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)

Seko Global Logistics LLC	(12) (16)	Subordinated Debt	S + 9.62%	10.48% (Cash) 5.50% (PIK)		6/30/2027	5,905	5,844	973	0.10	%
Seko Global Logistics LLC	(12) (16)	Subordinated Debt	S + 9.62%	10.48% (Cash) 5.50% (PIK)		6/30/2027	4,098	4,051	675	0.07	%
Seko Global Logistics LLC	(6) (16)	First Lien Term Loan	S + 8.00%	13.43	%	12/30/2026	1,122	1,117	788	0.08	%
Seko Global Logistics LLC (Delayed Draw)	(12) (16)	Subordinated Debt	S + 8.00%	7.93% (Cash) 5.50% (PIK)		6/30/2027	923	923	152	0.02	%
Seko Global Logistics LLC (Delayed Draw)	(6) (12) (16)	First Lien Term Loan	S + 8.00%	13.43	%	12/30/2026	4,473	4,473	3,143	0.32	%
Seko Global Logistics LLC	(6) (16)	First Lien Term Loan	S + 8.00%	13.43	%	12/30/2026	1,513	1,505	1,063	0.11	%
TI Acquisition NC, LLC	(6)	First Lien Term Loan	S + 4.75%	9.35	%	3/19/2027	2,759	2,708	2,729	0.28	%
Total Transportation: Cargo								72,163	61,012	6.16	%

Transportation: Consumer
Alternative Logistics Technologies Buyer, LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 5.25%	10.10	%	2/14/2031	10,586	10,490	10,484	1.05	%
Alternative Logistics Technologies Buyer, LLC (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.25%	10.10	%	2/14/2031	3,040	—	(29)	—	%
American Student Transportation Partners	(12)	Subordinated Debt	N/A	6.00% (Cash) 8.50% (PIK)		9/11/2029	2,216	2,168	2,161	0.22	%
Total Transportation: Consumer								12,658	12,616	1.27	%

Utilities: Electric
CRCI Holdings Inc	(9) (12) (13)	First Lien Term Loan	S + 5.00%	9.85	%	8/27/2031	10,460	10,356	10,359	1.05	%
CRCI Holdings Inc (Delayed Draw)	(9) (11) (12)	First Lien Term Loan	S + 5.00%	9.85	%	8/27/2031	2,615	(13)	(25)	—	%
CRCI Holdings Inc	(9) (11) (12)	Revolving Loan	S + 5.00%	9.85	%	8/27/2031	1,925	944	944	0.10	%
DMC Power	(6)	First Lien Term Loan	S + 5.75%	11.05	%	7/13/2029	4,962	4,899	4,992	0.50	%
DMC Power (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 5.75%	11.05	%	7/13/2029	1,671	(3)	10	—	%
Pinnacle Supply Partners, LLC	(6)	First Lien Term Loan	S + 6.25%	11.37	%	4/3/2030	6,284	6,178	6,243	0.63	%
Pinnacle Supply Partners, LLC (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.25%	11.68	%	4/3/2030	3,629	1,364	1,363	0.14	%
Total Utilities: Electric								23,725	23,886	2.42	%

Utilities: Water
USA Water	(6) (12)	First Lien Term Loan	S + 4.75%	9.60	%	2/21/2031	7,857	7,786	7,849	0.79	%
USA Water (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 4.75%	10.01	%	2/21/2031	3,037	334	331	0.04	%
Total Utilities: Water								8,120	8,180	0.83	%

Wholesale
Ergotech (INS)	(6) (13)	First Lien Term Loan	S + 6.50%	11.91	%	1/19/2029	7,885	7,766	7,895	0.80	%


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

Ergotech (INS) (Delayed Draw)	(11) (12)	First Lien Term Loan	S + 6.50%	11.91	%	1/19/2029	1,979	(29)	3	—	%
Industrial Service Group	(6)	First Lien Term Loan	S + 5.75%	11.00	%	12/7/2028	6,476	6,376	6,405	0.65	%
Industrial Service Group (Delayed Draw)	(6)	First Lien Term Loan	S + 5.75%	11.00	%	12/7/2028	3,372	3,359	3,335	0.34	%
Micronics	(12)	Subordinated Debt	S + 5.25%	10.12	%	2/17/2027	2,450	2,412	2,409	0.24	%
TPC Wire & Cable Corp	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	2,261	2,244	2,225	0.22	%
TPC Wire & Cable Corp (Delayed Draw)	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	925	924	911	0.09	%
TPC Wire & Cable Corp (Delayed Draw)	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	1,723	1,723	1,696	0.17	%
Total Wholesale								24,775	24,879	2.51	%

Total Debt Investments								2,045,483	2,013,062	203.23	%


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

Equity Investments
Aerospace & Defense
Turbine Engine Specialists	(8) (12) (15)	Class A-1 Units	9/1/2023	1,530,000	1,530	1,728	0.17	%
Total Aerospace & Defense					1,530	1,728	0.17	%

Automotive
Covercraft	(8) (12)	LP Interests	8/20/2021	768	768	299	0.03	%
High Bar Brands	(8) (10) (12)	Class A Units	12/19/2023	303,000	303	396	0.04	%
S&S Truck Parts	(8) (12)	Partnership Units	3/1/2022	4	378	343	0.03	%
S&S Truck Parts	(8) (12)	Common Units	8/1/2022	78,543	290	71	0.01	%
S&S Truck Parts	(8) (10) (12)	Partnership Interests	6/3/2024	1,000	1,000	977	0.10	%
S&S Truck Parts	(8) (12)	Warrants	6/3/2024	1,000	1	—	—	%
Total Automotive					2,740	2,086	0.21	%

Beverage, Food & Tobacco
Bardstown Bourbon Company	(8) (10) (12)	Common Units	7/13/2022	14,777	1,860	2,016	0.20	%
Fresh Edge	(8) (12)	Class B Common Units	10/3/2022	698	5	71	0.01	%
Fresh Edge	(8) (12)	Class A Preferred Units	10/3/2022	698	698	801	0.08	%
Tech24	(8) (12)	Company Unit	10/5/2023	954	954	1,005	0.10	%
Total Beverage, Food & Tobacco					3,517	3,893	0.39	%


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

Capital Equipment
Crete	(8) (12)	Equity Co-Investment	5/7/2022	24	249	843	0.09	%
EFC International	(8) (10) (12)	Class A Common Units	2/28/2023	148	60	146	0.01	%
EFC International	(8) (10) (12)	Series A Preferred Units	2/28/2023	148	148	168	0.02	%
E-Technologies / Superior	(8) (12)	Partnership Interests	5/22/2024	1,000,000	1,000	806	0.08	%
Precision Surfacing Solutions	(8) (10) (12)	Common Units	10/3/2022	3,750,000	3,750	6,000	0.61	%
Total Capital Equipment					5,207	7,963	0.81	%

Construction & Building
Erie Construction	(8) (12)	Common Units	7/27/2021	166	166	528	0.05	%
Gannett Fleming	(8) (12)	Series F Units	5/26/2023	1,272,139	1,272	1,622	0.17	%
Gannett Fleming	(8) (12) (15)	Limited Partnership Interests	12/20/2022	894,607	895	1,141	0.12	%
Total Construction & Building					2,333	3,291	0.34	%

Consumer Goods: Non-durable
FoodScience LLC	(8) (12)	Class B Units	3/1/2021	5,168	5	112	0.01	%
FoodScience LLC	(8) (12)	Class A Units	3/1/2021	98	98	137	0.01	%
Ultima	(8) (12)	Preferred Units	9/12/2022	15	170	226	0.02	%
Total Consumer Goods: Non-durable					273	475	0.04	%

Containers, Packaging & Glass
Oliver Inc	(8) (12)	Class A Common Units	7/6/2022	11,916	1,131	742	0.07	%
Specialized Packaging Group (SPG)	(7) (8) (10) (12)	Class A Units	12/17/2020	147,708	148	168	0.02	%
Total Containers, Packaging & Glass					1,279	910	0.09	%

Healthcare & Pharmaceuticals
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	485	0.05	%
HemaSource	(8) (12)	LP Interests	8/31/2023	577,000	577	726	0.07	%
Mosaic Dental	(8) (10) (12)	Class A2 Units	2/7/2023	245	245	212	0.02	%
Total Healthcare & Pharmaceuticals					2,102	1,423	0.14	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)
High Tech Industries
ITSavvy	(8) (12)	Class A Common Units	8/8/2022	522	522	1,791	0.18	%
Solve Industrial	(8) (12)	LP Interests	6/30/2021	313	313	140	0.01	%
Total High Tech Industries					835	1,931	0.19	%

Media: Diversified & Production
BroadcastMed	(8) (12)	Series A-3 Preferred Units	10/4/2022	56,899	853	741	0.07	%
Total Media: Diversified & Production					853	741	0.07	%

Services: Business
Apex Companies	(8) (10) (12)	Class A Membership Interests	1/31/2023	1,173	117	139	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	900	0.09	%
Esquire Deposition Services	(8) (12)	Class A Limited Partnership Units	7/1/2024	2,424	320	242	0.02	%
Output Services Group, Inc.	(8) (10) (12)	Class A Units	11/30/2023	47,021	833	907	0.10	%
Riveron	(8) (12)	Class A Units	7/17/2023	790	790	776	0.08	%
Total Services: Business					3,566	2,964	0.30	%

Services: Consumer
Legacy Service Partners	(8) (12)	Class B Units	1/9/2023	4,907	491	606	0.06	%
NearU	(8) (9) (12)	Limited Partnership Interests	8/8/2022	2,432	243	186	0.02	%
Palmetto Exterminators	(8) (12)	Class A Units	7/31/2023	997,000	1,117	1,202	0.13	%
Perennial Services Group	(8) (10) (12)	Class A Units	9/8/2023	7,784	778	1,125	0.11	%
Repipe Specialists	(8) (10) (12)	Purchased Units	3/18/2022	253	253	12	—	%
Total Services: Consumer					2,882	3,131	0.32	%

Sovereign & Public Finance
LMI	(8) (12)	Limited Partnership Interests	7/18/2022	633,980	634	1,295	0.13	%
Total Sovereign & Public Finance					634	1,295	0.13	%


Portfolio Company (1) (2)	Footnotes	Investment	Acquisition Date	Shares/Units	Amortized Cost	Fair Value (4)	% of Net Assets (5)
Transportation: Cargo
RoadOne	(8) (12)	Partnership Units	12/29/2022	1,173,220	939	1,093	0.11	%
Seko Global Logistics LLC	(8) (12)	Equity Co-Invest	12/30/2020	671,203	332	—	—	%
Total Transportation: Cargo					1,271	1,093	0.11	%

Transportation: Consumer
American Student Transportation Partners	(8) (12)	Limited Partnership Interest	9/11/2023	102,475	102	94	0.01	%
Total Transportation: Consumer					102	94	0.01	%

Utilities: Electric
Pinnacle Supply Partners, LLC	(8) (12)	Subject Partnership Units	4/3/2023	279,687	280	251	0.03	%
Total Utilities: Electric					280	251	0.03	%

Utilities: Water
USA Water	(8) (10) (12)	Common Units	2/21/2024	4,781	478	556	0.06	%
Total Utilities: Water					478	556	0.06	%

Total Equity Investments					29,882	33,825	3.41	%

(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


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	4.76%	62,452	62,452		62,452		6.30	%
First American Government Obligations Fund - Class Z	4.75%	28	28		28		—	%
Total Cash Equivalents			$	62,480	$	62,480	6.30	%
Total Investments and Cash Equivalents			$	2,137,845	$	2,109,367	212.94	%


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


	September 30, 2024		September 30, 2023
Cash	$	6,824	$	1,771
Cash equivalents	62,480		34,200
Restricted cash	50		50
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows	$	69,354	$	36,021