ncdlc-20250331

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.


	March 31, 2025		December 31, 2024

Assets	(Unaudited)
Investments
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $2,108,339 and $2,098,575, respectively)	$	2,077,570	$	2,081,379
Cash and cash equivalents	49,178		43,254
Restricted cash	—		50


Interest receivable	20,701		17,971
Derivative asset, at fair value (Note 4)	8,184		—
Receivable for investments sold	16,563		1,024


Other assets	388		47
Total assets	$	2,172,584	$	2,143,725

Liabilities
Debt (net of $10,315 and $6,668 deferred financing costs, respectively, and net of unamortized discount of $555 and $0, respectively) (See Note 7)	$	1,199,570	$	1,108,261
Payable for investments purchased	6,650		14,973
Interest payable	10,416		12,967


Management fees payable	3,914		3,956
Distributions payable	28,266		29,468
Directors’ fees payable	156		128
Accounts payable and accrued expenses	3,592		3,652
Total liabilities	$	1,252,564	$	1,173,405

Commitments and contingencies (See Note 8)

Net Assets: (See Note 9)

Common shares, $0.01 par value, 500,000,000 and 500,000,000 shares authorized, 51,217,252 and 53,387,277 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively	$	512	$	534
Paid-in-capital in excess of par value	959,251		996,286
Total distributable earnings (loss)	(39,743)		(26,500)
Total net assets	$	920,020	$	970,320

Total liabilities and net assets	$	2,172,584	$	2,143,725

Net asset value per share (See Note 11)	$	17.96	$	18.18


	Three Months Ended March 31,
		2025		2024
Investment income:
Non-controlled/non-affiliated company investments:
Interest income		$	50,846	$	49,078
Payment-in-kind interest income		2,365		1,992
Dividend income		—		308
Other income		375		217
Total investment income		53,586		51,595

Expenses:
Interest and debt financing expenses		20,643		16,941
Management fees (See Note 6)		3,914		3,264
Incentive fees on net investment income		2,253		4,459

Professional fees		493		710
Directors' fees		156		128
Administration fees (See Note 6)		586		542
Other general and administrative expenses		342		277
Total expenses before incentive fees waived		28,387		26,321

Incentive fees waived (See Note 6)		(2,253)		(4,459)
Net expenses after incentive fees waived		26,134		21,862


Net investment income		27,452		29,733

Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments		1,103		(3,625)
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated company investments		(13,573)		4,057
Income tax (provision) benefit		39		(141)
Total net change in unrealized gain (loss)		(13,534)		3,916
Total net realized and unrealized gain (loss) on investments		(12,431)		291

Net increase (decrease) in net assets resulting from operations		$	15,021	$	30,024

Per share data:
Net investment income per share - basic and diluted		$	0.53	$	0.56
Net increase (decrease) in net assets resulting from operations per share - basic and diluted		$	0.29	$	0.57
Weighted average common shares outstanding - basic and diluted		52,211,340		52,758,353


	Three Months Ended March 31,
		2025		2024
Increase (decrease) in net assets resulting from operations:
Net investment income		$	27,452	$	29,733
Net realized gain (loss) on investments		1,103		(3,625)
Net change in unrealized appreciation (depreciation) on investments		(13,534)		3,916
Net increase (decrease) in net assets resulting from operations		15,021		30,024
Shareholder distributions:
Distributions declared from distributable earnings		(28,265)		(24,667)
Net increase (decrease) in net assets resulting from shareholder distributions		(28,265)		(24,667)
Capital share transactions:
Issuance of common shares, net		—		241,657
Reinvestment of shareholder distributions		—		3,334
Repurchases of common stock		(37,056)		—
Net increase (decrease) in net assets resulting from capital share transactions		(37,056)		244,991
Total increase (decrease) in net assets		(50,300)		250,348
Net assets, beginning of period		970,320		747,885
Net assets, end of period		$	920,020	$	998,233

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


	Three Months Ended March 31,
	2025		2024
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	15,021	$	30,024

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	(153,019)		(204,329)
Proceeds from principal repayments and sales of investments	148,350		54,896
Payment-in-kind interest	(2,365)		(1,992)
Amortization of (premium)/accretion of discount, net	(1,627)		(1,016)
Net realized (gain) loss on investments	(1,103)		3,625
Net change in unrealized (appreciation) depreciation on investments	13,573		(4,057)
Net fair value adjustment for hedging transaction	(36)		—
Amortization of deferred financing costs	1,956		1,296

Changes in operating assets and liabilities:

Interest receivable	(2,730)		1,607
Receivable for investments sold	(15,539)		3,497

Prepaid expenses	—		(105)
Other assets	(341)		2
Payable for investments purchased	(8,323)		16,877
Interest payable	(2,551)		1,185
Due to adviser for expense support	—		(632)

Management fees payable	(42)		258
Directors’ fees payable	28		32

Accounts payable and accrued expenses	(60)		1,276
Net cash provided by (used in) operating activities	(8,808)		(97,556)

Cash flows from financing activities:

Proceeds from issuance of common shares, net	—		241,657

Shareholder distributions	(29,467)		(19,332)
Repurchases of common shares	(37,056)		—
Proceeds from debt	796,845		323,000
Repayments on debt	(710,037)		(449,377)
Payments of deferred financing costs	(5,603)		(1,641)
Net cash provided by (used in) financing activities	14,682		94,307

Net increase (decrease) in Cash and Cash Equivalents and Restricted Cash	5,874		(3,249)
Cash and Cash Equivalents and Restricted Cash, beginning of period	43,304		67,445
Cash and Cash Equivalents and Restricted Cash, end of period	$	49,178	$	64,196

Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$	21,238	$	14,460
Cash paid during the period for excise taxes	$	—	$	6
Supplemental disclosure of non-cash flow financing activity:
Distributions payable	$	28,266	$	24,684
Reinvestment of shareholder distributions	$	—	$	3,334


Portfolio Company (1) (2) (7)	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
BlueHalo Global Holdings, LLC (AEgis Technologies)	(6) (12)	First Lien Debt	S + 6.00%	10.31	%	10/31/2025	$	19,916	$	19,882	$	19,916	2.16	%
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt	S + 5.00%	9.32	%	7/25/2030	1,563		1,545		1,548		0.17	%
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	7/25/2030	895		894		887		0.10	%
PAG Holding Corp. (Precision Aviation Group)	(6) (12)	First Lien Debt	S + 4.75%	9.05	%	12/21/2029	14,851		14,607		14,821		1.60	%
PAG Holding Corp. (Precision Aviation Group)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	12/21/2029	4,923		4,885		4,913		0.53	%
Signia Aerospace, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 3.00%	7.32	%	12/11/2031	122		—		—		—	%
Signia Aerospace, LLC	(6) (9)	First Lien Debt	S + 3.00%	7.32	%	12/11/2031	1,470		1,467		1,466		0.16	%
STS Holding, Inc.	(6)	First Lien Debt	S + 4.75%	9.05	%	11/12/2030	3,856		3,820		3,834		0.42	%
Turbine Engine Specialists, Inc.	(12)	Subordinated Debt	S + 9.50%	13.92	%	3/1/2029	2,524		2,475		2,534		0.28	%
Valkyrie Intermediate, LLC	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,872		2,841		2,832		0.31	%
Total Aerospace & Defense									52,416		52,751		5.73	%

Automotive
Covercraft Parent III, Inc.	(12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	7,548		7,473		5,802		0.63	%
High Bar Brands Operating, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	13.00	%	6/19/2030	596		(6)		(7)		—	%
High Bar Brands Operating, LLC	(12)	Subordinated Debt	N/A	13.00	%	6/19/2030	2,088		2,046		2,062		0.22	%
JEGS Automotive	(12)	First Lien Debt	S + 7.00%	11.30	%	12/22/2029	1,256		1,256		1,256		0.14	%
JEGS Automotive	(12)	Revolving Loan	S + 7.00%	11.30	%	12/22/2029	209		209		209		0.02	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(6) (12)	First Lien Debt	S + 5.00%	9.39	%	4/18/2028	12,563		12,492		12,521		1.36	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(12)	First Lien Debt	S + 5.00%	9.39	%	4/18/2028	2,419		2,399		2,411		0.26	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 4.75%	9.16	%	3/1/2029	1,144		1,138		1,131		0.12	%
RA Parent Holdings LP (S&S Truck Parts)	(6) (12)	First Lien Debt	S + 4.75%	9.17	%	3/1/2029	19,983		19,814		19,749		2.15	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 4.75%	9.16	%	3/1/2029	1,703		1,703		1,683		0.18	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 4.75%	9.17	%	3/1/2029	97		97		96		0.01	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 4.75%	9.16	%	3/1/2029	$	6,771	$	6,730	$	6,692	0.73	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	11/1/2029	3,742		2,137		2,089		0.23	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(6) (9) (12)	First Lien Debt	S + 5.00%	9.29	%	11/1/2029	10,997		10,850		10,857		1.18	%
Total Automotive									68,338		66,551		7.23	%

Banking, Finance, Insurance, Real Estate
Accession Risk Management Group, Inc. (f/k/a RSC Acquisition Inc)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	11/1/2029	9,719		9,719		9,690		1.05	%
Ascend Partner Services LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.75	%	8/11/2031	12,642		3,510		3,601		0.39	%
Ascend Partner Services LLC	(6) (12)	First Lien Debt	S + 4.50%	8.75	%	8/11/2031	7,339		7,273		7,360		0.80	%
Big Apple Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.79	%	11/18/2031	4,305		(20)		(43)		—	%
Big Apple Advisory, LLC	(11) (12)	Revolving Loan	S + 4.50%	8.79	%	11/18/2031	1,740		(16)		(17)		—	%
Big Apple Advisory, LLC	(12)	First Lien Debt	S + 4.50%	8.79	%	11/18/2031	8,955		8,870		8,866		0.96	%
Cohen Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.80	%	12/31/2031	4,825		194		181		0.02	%
Cohen Advisory, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.80	%	12/31/2031	8,664		8,582		8,599		0.93	%
Illumifin Corporation (Long Term Care Group)	(9) (12)	First Lien Debt	S + 6.00%	10.55	%	9/8/2027	7,326		7,312		6,826		0.74	%
Patriot Growth Insurance Services, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.45	%	10/16/2028	7,082		7,039		7,082		0.77	%
Smith & Howard Advisory LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	11/26/2030	2,351		1,105		1,088		0.12	%
Smith & Howard Advisory LLC	(6)	First Lien Debt	S + 4.75%	9.07	%	11/26/2030	2,915		2,888		2,887		0.31	%
Vensure Employer Services, Inc.	(9) (12)	First Lien Debt	S + 5.00%	9.30	%	9/27/2031	2,751		2,728		2,735		0.30	%
Vensure Employer Services, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	9/27/2031	542		(3)		(3)		—	%
World Insurance Associates, LLC	(6) (9)	First Lien Debt	S + 5.00%	9.30	%	4/3/2030	971		966		967		0.11	%
World Insurance Associates, LLC	(9) (12)	First Lien Debt	S + 5.00%	9.30	%	4/3/2030	13,761		13,756		13,707		1.49	%
Total Banking, Finance, Insurance, Real Estate									73,903		73,526		7.99	%

Beverage, Food & Tobacco
AmerCareRoyal, LLC	(6)	First Lien Debt	S + 5.00%	9.32	%	9/10/2030	718		712		712		0.08	%
AmerCareRoyal, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	9/10/2030	165		—		(2)		—	%
AmerCareRoyal, LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	9/10/2030	114		114		113		0.01	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(12)	Subordinated Debt	S + 7.75%	12.05	%	8/30/2027	$	9,300	$	9,199	$	9,260	1.01	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (9) (12) (14)	Subordinated Debt	S + 7.25%	11.69	%	6/8/2029	9,000		8,899		8,694		0.94	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (12) (14)	First Lien Debt	S + 4.00%	8.44	%	6/9/2028	10,491		10,075		10,265		1.12	%
Boardwalk Buyer LLC (Death Wish Coffee)	(6) (9) (12)	First Lien Debt	S + 5.00%	9.40	%	9/28/2027	9,675		9,635		9,675		1.05	%
Commercial Bakeries Corp.	(6) (10) (12)	First Lien Debt	S + 5.50%	9.80	%	9/25/2029	17,066		16,804		16,869		1.83	%
Commercial Bakeries Corp.	(6) (10)	First Lien Debt	S + 5.50%	9.82	%	9/25/2029	2,019		2,006		1,996		0.22	%
FoodScience, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.97	%	11/14/2031	6,322		(15)		(13)		—	%
FoodScience, LLC	(6) (12)	First Lien Debt	S + 4.75%	8.97	%	11/14/2031	5,912		5,857		5,899		0.64	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.90% (Cash) 5.13% (PIK)		4/3/2029	4,130		4,065		4,020		0.44	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.90% (Cash) 5.13% (PIK)		4/3/2029	825		810		803		0.09	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.90% (Cash) 5.13% (PIK)		4/3/2029	976		957		950		0.10	%
Palmetto Acquisitionco, Inc. (Tech24)	(6) (12)	First Lien Debt	S + 5.75%	10.05	%	9/18/2029	13,148		12,967		12,844		1.40	%
Palmetto Acquisitionco, Inc. (Tech24)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	9/18/2029	4,813		3,085		2,987		0.32	%
Refresh Buyer, LLC (Sunny Sky Products)	(6) (12)	First Lien Debt	S + 4.75%	9.05	%	12/23/2028	7,005		6,953		6,926		0.75	%
Refresh Buyer, LLC (Sunny Sky Products)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.07	%	12/23/2028	1,773		1,773		1,754		0.19	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(12)	First Lien Debt	S + 4.75%	9.20	%	7/30/2027	10,463		10,366		10,377		1.13	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(6) (12)	First Lien Debt	S + 4.75%	9.19	%	7/30/2027	9,511		9,460		9,432		1.03	%
Watermill Express, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.21	%	7/5/2029	2,373		1,094		1,099		0.12	%
Watermill Express, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.70	%	7/5/2029	3,154		3,154		3,154		0.34	%
Watermill Express, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.70	%	7/5/2029	6,295		6,245		6,295		0.68	%
Watermill Express, LLC	(6) (9)	First Lien Debt	S + 5.25%	9.70	%	7/5/2029	3,211		3,198		3,211		0.35	%
Watermill Express, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.25%	9.70	%	7/5/2029	310		310		310		0.03	%
WCHG Buyer, Inc. (Handgards, LLC)	(6) (12)	First Lien Debt	S + 5.00%	9.30	%	4/10/2031	24,294		24,080		24,035		2.61	%
Total Beverage, Food & Tobacco									151,803		151,665		16.48	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Capital Equipment
Clean Solutions Buyer, Inc.	(6)	First Lien Debt	S + 4.50%	8.82	%	9/9/2030	$	995	$	986	$	986	0.11	%
Engineered Fastener Company, LLC (EFC International)	(12)	Subordinated Debt	N/A	11.00%(Cash) 2.50% (PIK)		5/1/2028	3,289		3,226		3,287		0.36	%
FirstCall Mechanical Group, LLC	(6) (12)	First Lien Debt	S + 4.75%	9.05	%	6/27/2030	9,925		9,838		9,834		1.06	%
FirstCall Mechanical Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05%		6/27/2030	19,961		9,142		8,977		0.97	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt	S + 6.00%	10.40	%	12/15/2026	6,384		6,363		6,139		0.67	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.40	%	12/15/2026	5,536		5,527		5,324		0.58	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.40	%	12/15/2026	2,538		2,538		2,441		0.27	%
Hyperion Materials & Technologies, Inc.	(12)	First Lien Debt	S + 4.50%	9.01	%	8/30/2028	2,620		2,619		2,538		0.28	%
Jetson Buyer, Inc. (E-Technologies Group, Inc.)	(6) (12)	First Lien Debt	S + 5.50%	9.82	%	4/9/2030	7,259		7,196		7,089		0.77	%
Ovation Holdings, Inc	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	2/4/2030	7,890		4,130		4,195		0.46	%
Ovation Holdings, Inc	(6)	First Lien Debt	S + 5.00%	9.29	%	2/4/2030	946		937		945		0.10	%
Ovation Holdings, Inc	(6)	First Lien Debt	S + 5.00%	9.29	%	2/4/2030	7,934		7,813		7,926		0.86	%
Ovation Holdings, Inc	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.29	%	2/4/2030	1,877		1,861		1,876		0.20	%
PT Intermediate Holdings III, LLC	(6) (9) (12)	First Lien Debt	S + 3.25%	7.55% (Cash) 1.75% (PIK)		4/9/2030	7,536		7,514		7,498		0.81	%
PT Intermediate Holdings III, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 3.25%	7.55% (Cash) 1.75% (PIK)		4/9/2030	879		(1)		(4)		—	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6) (12)	First Lien Debt	S + 5.25%	9.72	%	4/4/2029	9,501		9,376		9,436		1.03	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.78	%	4/4/2029	1,826		1,821		1,814		0.20	%
Thermostat Purchaser III, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	8.55	%	8/31/2028	2,267		—		3		—	%
Thermostat Purchaser III, Inc.	(6) (9)	First Lien Debt	S + 4.25%	8.55	%	8/31/2028	1,078		1,078		1,079		0.12	%
Vessco Midco Holdings, LLC	(6) (9) (12)	First Lien Debt	S + 4.75%	9.05	%	7/24/2031	13,706		13,579		13,575		1.47	%
Vessco Midco Holdings, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.06	%	7/24/2031	4,569		1,183		1,160		0.13	%
Vessco Midco Holdings, LLC	(9) (11) (12)	Revolving Loan	S + 4.75%	9.07	%	7/24/2031	1,726		(16)		(16)		—	%
Total Capital Equipment									96,710		96,102		10.45	%

Chemicals, Plastics, & Rubber
Boulder Scientific Company, LLC	(6)	First Lien Debt	S + 4.75%	9.06	%	12/31/2027	2,034		2,043		1,986		0.22	%
Chroma Color Corporation	(6)	First Lien Debt	S + 4.25%	8.54	%	4/23/2029	6,235		6,143		6,191		0.67	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Chroma Color Corporation	(6)	First Lien Debt (Delayed Draw)	S + 4.25%	8.55	%	4/23/2029	$	1,376	$	1,367	$	1,366	0.15	%
Olympic Buyer, Inc. (Ascensus)	(6) (9) (12)	First Lien Debt	S + 4.35%	8.67	%	6/30/2028	9,606		9,501		8,227		0.89	%
TJC Spartech Acquisition Corp.	(9) (12) (16)	First Lien Debt	S + 4.75%	9.04	%	5/6/2028	14,579		14,532		4,781		0.52	%
Total Chemicals, Plastics, & Rubber									33,586		22,551		2.45	%

Construction & Building
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt	N/A	14.00% (PIK)		4/26/2030	2,318		2,268		2,240		0.24	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	14.00% (PIK)		4/26/2030	4,412		4,366		4,264		0.46	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	14.00% (PIK)		4/26/2030	5,598		5,537		5,411		0.59	%
Cobalt Service Partners, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	10/13/2031	3,165		727		711		0.08	%
Cobalt Service Partners, LLC	(6) (9)	First Lien Debt	S + 4.75%	9.05	%	10/13/2031	1,835		1,818		1,818		0.20	%
Erie Construction Mid-West, LLC (Erie Construction)	(6) (12)	First Lien Debt	S + 4.75%	9.19	%	7/30/2027	9,467		9,424		9,467		1.03	%
Gannett Fleming, Inc.	(9) (12)	First Lien Debt	S + 4.75%	9.04	%	8/5/2030	17,779		17,538		17,610		1.90	%
Gannett Fleming, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	9.07	%	8/5/2030	2,131		(29)		(20)		—	%
Heartland Paving Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.81	%	8/9/2030	5,714		(13)		(53)		(0.01	%)
Heartland Paving Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.81	%	8/9/2030	5,714		2,273		2,233		0.24	%
Heartland Paving Partners, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.72	%	8/9/2030	8,529		8,451		8,450		0.92	%
ICE USA Infrastructure, Inc.	(6) (12)	First Lien Debt	S + 5.75%	10.05	%	3/15/2030	6,555		6,500		6,497		0.71	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	12/15/2027	4,858		4,836		4,836		0.53	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(6) (9) (12)	First Lien Debt	S + 5.00%	9.30	%	12/15/2027	9,196		9,104		9,155		1.00	%
MEI Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	6/29/2029	2,099		—		—		—	%
MEI Buyer LLC	(6) (12)	First Lien Debt	S + 5.00%	9.32	%	6/29/2029	11,288		11,114		11,289		1.23	%
MEI Buyer LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	6/29/2029	1,805		1,799		1,805		0.20	%
Rose Paving, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	12.00	%	5/7/2030	191		(1)		(2)		—	%
Rose Paving, LLC	(12)	Subordinated Debt	N/A	12.00	%	5/7/2030	2,937		2,904		2,906		0.32	%
Royal Holdco Corporation (RMA Companies)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.79	%	12/30/2030	3,435		(34)		(34)		—	%
Royal Holdco Corporation (RMA Companies)	(6) (12)	First Lien Debt	S + 4.50%	8.79	%	12/30/2030	16,523		16,429		16,358		1.77	%
SCIC Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	3/14/2031	3,106		(8)		(31)		—	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

SCIC Buyer, Inc.	(6) (12)	First Lien Debt	S + 5.00%	9.30	%	3/14/2031	$	14,813	$	14,665	$	14,667	1.59	%
WSB Engineering Holdings Inc.	(6)	First Lien Debt	S + 6.00%	10.31	%	8/31/2029	6,438		6,365		6,416		0.70	%
WSB Engineering Holdings Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.29	%	8/31/2029	4,315		3,769		3,778		0.41	%
Total Construction & Building									129,802		129,771		14.11	%

Consumer Goods: Durable
DRS Holdings III, Inc.	(6) (9)	First Lien Debt	S + 5.25%	9.55	%	11/1/2028	2,999		2,999		2,984		0.32	%
Momentum Textiles, LLC	(12)	Subordinated Debt	N/A	8.00% (Cash) 5.50% (PIK)		3/28/2029	5,000		4,913		4,913		0.53	%
XpressMyself.com LLC (SmartSign)	(6) (12)	First Lien Debt	S + 5.50%	9.89	%	9/7/2028	9,750		9,695		9,750		1.06	%
XpressMyself.com LLC (SmartSign)	(6)	First Lien Debt	S + 5.75%	10.14	%	9/7/2028	4,962		4,893		4,962		0.55	%
Total Consumer Goods: Durable									22,500		22,609		2.46	%

Consumer Goods: Non-durable
ACP Tara Holdings, Inc.	(6) (9) (12)	First Lien Debt	S + 4.50%	8.90	%	9/10/2027	12,443		12,391		12,443		1.35	%
ACP Tara Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.75%	10.15	%	9/10/2027	1,376		1,360		1,376		0.15	%
Gloves Buyer, Inc. (PIP)	(6) (12)	First Lien Debt	S + 4.00%	8.44	%	12/29/2027	9,028		9,017		9,028		0.98	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(6) (12)	First Lien Debt	S + 5.25%	9.64	%	6/30/2028	6,703		6,665		6,703		0.73	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	6/30/2028	3,116		911		928		0.10	%
MPG Parent Holdings, LLC (Market Performance Group)	(6) (12)	First Lien Debt	S + 5.00%	9.30	%	1/8/2030	12,493		12,391		12,595		1.37	%
MPG Parent Holdings, LLC (Market Performance Group)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	1/8/2030	3,067		3,067		3,092		0.34	%
Ultima Health Holdings, Inc.	(12)	Subordinated Debt	N/A	12.50	%	3/12/2029	1,767		1,744		1,767		0.19	%
Total Consumer Goods: Non-durable									47,546		47,932		5.21	%

Containers, Packaging & Glass
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(6) (12)	First Lien Debt	S + 6.75%	11.43	%	10/7/2026	14,247		14,235		13,856		1.51	%
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(12)	First Lien Debt	S + 6.75%	11.25	%	10/7/2026	113		112		110		0.01	%
good2grow LLC	(6) (12)	First Lien Debt	S + 4.50%	8.96	%	12/1/2027	8,699		8,658		8,699		0.95	%
good2grow LLC	(6) (12)	First Lien Debt	S + 5.50%	9.96	%	12/1/2027	4,981		4,932		4,981		0.54	%
good2grow LLC	(6) (12)	First Lien Debt	S + 4.75%	9.21	%	12/1/2027	14,230		14,126		14,230		1.55	%
Ivex Holdco Inc. (Specialized Packaging Group)	(6) (12)	First Lien Debt	S + 5.50%	9.96	%	12/17/2027	10,128		10,099		10,030		1.09	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Ivex Holdco Inc. (Specialized Packaging Group)	(10) (12)	First Lien Debt	S + 5.50%	9.96	%	12/17/2027	$	4,354	$	4,334	$	4,312	0.47	%
Ivex Holdco Inc. (Specialized Packaging Group)	(6) (10) (12)	First Lien Debt	S + 5.50%	9.96	%	12/17/2027	6,808		6,774		6,742		0.73	%
Ivex Holdco Inc. (Specialized Packaging Group)	(12)	First Lien Debt	S + 5.50%	9.96	%	12/17/2027	3,283		3,268		3,251		0.35	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	11.50% (PIK)		1/6/2029	2,556		2,527		2,381		0.26	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	13.00% (PIK)		1/6/2029	475		466		463		0.05	%
Online Labels Group, LLC	(12)	First Lien Debt	S + 5.25%	9.55	%	12/19/2029	3,287		3,261		3,287		0.36	%
Online Labels Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	12/19/2029	403		202		202		0.02	%
Online Labels Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	12/19/2029	403		—		—		—	%
Total Containers, Packaging & Glass									72,994		72,544		7.89	%

Energy: Electricity
Matador US Buyer, LLC (Insulation Technology Group)	(6) (10) (12)	First Lien Debt	S + 5.00%	9.32	%	6/25/2030	22,298		22,102		22,076		2.41	%
Matador US Buyer, LLC (Insulation Technology Group)	(10) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	6/25/2030	5,898		5,617		5,558		0.60	%
US MetalCo Holdings LLC (MGM Transformer Company)	(6) (12)	First Lien Debt	S + 5.50%	9.81	%	10/31/2029	23,317		23,035		23,384		2.54	%
US MetalCo Holdings LLC (MGM Transformer Company)	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.80	%	10/31/2029	6,340		6,329		6,358		0.69	%
Total Energy: Electricity									57,083		57,376		6.24	%

Environmental Industries
CLS Management Services, LLC (Contract Land Staff)	(6) (12)	First Lien Debt	S + 5.00%	9.30	%	3/27/2030	7,488		7,424		7,422		0.81	%
CLS Management Services, LLC (Contract Land Staff)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	3/27/2030	3,010		3,005		2,984		0.32	%
CLS Management Services, LLC (Contract Land Staff)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	3/27/2030	4,999		(11)		(44)		—	%
Impact Parent Corporation (Impact Environmental Group)	(6) (12)	First Lien Debt	S + 5.25%	9.65	%	3/23/2029	6,691		6,591		6,646		0.72	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	3/23/2029	3,126		3,114		3,105		0.34	%
Impact Parent Corporation (Impact Environmental Group)	(12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	3/23/2029	6,775		6,752		6,730		0.73	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Debt	S + 5.25%	9.65	%	3/23/2029	1,714		1,688		1,703		0.19	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Debt	S + 5.75%	10.09	%	11/30/2027	4,810		4,790		4,785		0.52	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

NFM & J, L.P. (The Facilities Group)	(6) (9) (12)	First Lien Debt	S + 5.75%	10.13	%	11/30/2027	$	8,925	$	8,867	$	8,878	0.96	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.16	%	11/30/2027	4,889		4,889		4,864		0.53	%
NFM & J, L.P. (The Facilities Group)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.16	%	11/30/2027	5,024		559		533		0.06	%
Nutrition 101 Buyer, LLC (101 Inc)	(6)	First Lien Debt	S + 5.25%	9.64	%	8/31/2028	6,564		6,528		6,141		0.67	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6)	First Lien Debt	S + 5.50%	9.80	%	7/3/2029	8,443		8,343		8,414		0.91	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.79	%	7/3/2029	6,393		4,711		4,700		0.51	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6)	First Lien Debt	S + 5.50%	9.80	%	7/3/2029	1,585		1,570		1,579		0.17	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.80	%	7/3/2029	13,446		—		(46)		—	%
SI Solutions, LLC	(6)	First Lien Debt	S + 4.75%	9.04	%	8/15/2030	11,843		11,736		11,857		1.28	%
SI Solutions, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	8/15/2030	5,601		(13)		7		—	%
Total Environmental Industries									80,543		80,258		8.72	%

Healthcare & Pharmaceuticals
AB Centers Acquisition Corporation (Action Behavior Centers)	(12)	First Lien Debt	S + 5.00%	9.32	%	7/2/2031	1,477		1,471		1,507		0.16	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(6) (12)	First Lien Debt	S + 5.00%	9.32	%	7/2/2031	15,634		15,492		15,946		1.73	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	7/2/2031	2,847		862		925		0.10	%
ACP Maverick Holdings, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	3/18/2031	3,636		(18)		(36)		—	%
ACP Maverick Holdings, Inc.	(6) (9) (12)	First Lien Debt	S + 4.75%	9.05	%	3/18/2031	16,364		16,201		16,202		1.76	%
Affinity Hospice Intermediate Holdings, LLC	(6) (12)	First Lien Debt	S + 4.75%	9.15	%	12/17/2027	7,772		7,733		6,655		0.72	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	3,282		3,272		863		0.09	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/16/2026	1,972		1,968		899		0.10	%
Anne Arundel Dermatology Management, LLC	(12)	First Lien Debt	N/A	4.71% (PIK)		1/15/2026	540		540		540		0.06	%
Anne Arundel Dermatology Management, LLC	(11) (12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/16/2026	2,396		2,027		726		0.08	%
Bluebird PM Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	2/3/2032	1,153		(3)		(11)		—	%
Bluebird PM Buyer, Inc.	(6) (12)	First Lien Debt	S + 4.75%	9.05	%	2/3/2032	8,456		8,376		8,375		0.91	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	12/22/2031	$	4,822	$	(24)	$	(47)	(0.01	%)
Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.49	%	12/22/2031	2,760		2,195		2,181		0.24	%
Bridges Consumer Healthcare Intermediate LLC	(6) (12)	First Lien Debt	S + 5.25%	9.47	%	12/22/2031	5,799		5,745		5,742		0.62	%
Coding Solutions Acquisition, Inc.	(9) (12)	First Lien Debt	S + 5.00%	9.32	%	8/7/2031	12,257		12,183		12,222		1.33	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.43	%	8/7/2031	1,872		(4)		(5)		—	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	Revolving Loan	S + 5.00%	9.32	%	8/7/2031	1,246		1,079		1,087		0.12	%
Dermatology Intermediate Holdings III, Inc. (Forefront Dermatology)	(6) (9) (14)	First Lien Debt	S + 4.25%	8.54	%	3/30/2029	3,273		3,237		3,082		0.33	%
Eyesouth Eye Care Holdco LLC	(6) (12)	First Lien Debt	S + 5.50%	9.92	%	10/5/2029	7,379		7,326		7,251		0.79	%
Eyesouth Eye Care Holdco LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.92	%	10/5/2029	2,419		2,419		2,377		0.26	%
FH DMI Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.22	%	10/11/2030	1,104		202		194		0.02	%
FH DMI Buyer, Inc.	(6)	First Lien Debt	S + 5.00%	9.22	%	10/11/2030	1,987		1,969		1,969		0.21	%
Genesee Scientific LLC	(6) (9) (12)	First Lien Debt	S + 5.75%	10.15	%	9/30/2027	5,883		5,859		5,113		0.56	%
Genesee Scientific LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.15	%	9/30/2027	1,540		1,540		1,339		0.15	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.69	%	12/9/2027	6,320		6,290		6,098		0.66	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.69	%	12/9/2027	1,977		1,977		1,907		0.21	%
GHR Healthcare, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.69	%	12/9/2027	1,946		—		(68)		(0.01	%)
GHR Healthcare, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.69	%	12/9/2027	648		—		(23)		—	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.69	%	12/9/2027	4,920		4,863		4,747		0.52	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.69	%	12/9/2027	8,028		7,966		7,746		0.84	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.69	%	12/9/2027	3,733		3,703		3,602		0.39	%
Health Management Associates, Inc.	(6) (12)	First Lien Debt	S + 6.25%	10.57	%	3/30/2029	8,264		8,144		8,205		0.89	%
Health Management Associates, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 6.25%	10.56	%	3/30/2029	1,497		1,047		1,063		0.12	%
Healthspan Buyer, LLC (Thorne HealthTech)	(6) (12)	First Lien Debt	S + 5.25%	9.55	%	10/16/2030	10,519		10,432		10,470		1.14	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	3,698		3,698		3,694		0.40	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	10,187		10,187		10,176		1.11	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		12/10/2027	2,037		2,021		2,035		0.22	%
HemaSource, Inc.	(12)	Subordinated Debt	N/A	8.50% (Cash) 5.00% (PIK)		2/28/2030	5,292		5,174		5,277		0.57	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

HMN Acquirer Corp.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	11/5/2031	$	2,426	$	(6)	$	(23)	—	%
HMN Acquirer Corp.	(6)	First Lien Debt	S + 4.75%	9.05	%	11/5/2031	6,581		6,521		6,518		0.71	%
Impact Advisors, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.06	%	3/19/2032	7,143		(36)		(71)		(0.01	%)
Impact Advisors, LLC	(6) (12)	First Lien Debt	S + 4.75%	9.06	%	3/19/2032	12,857		12,729		12,730		1.38	%
Infucare Rx Inc	(6) (12)	First Lien Debt	S + 4.25%	8.65	%	1/4/2028	4,250		4,230		4,250		0.46	%
JKC Buyer, Inc. (J. Knipper and Company Inc)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	2/13/2032	2,102		(10)		(20)		—	%
JKC Buyer, Inc. (J. Knipper and Company Inc)	(6)	First Lien Debt	S + 5.00%	9.32	%	2/13/2032	6,073		6,017		6,015		0.65	%
Lavie Group, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.59	%	10/10/2029	736		(3)		(7)		—	%
Lavie Group, Inc.	(9) (12)	First Lien Debt	S + 5.25%	9.59	%	10/10/2029	2,762		2,734		2,734		0.30	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	1,799		1,769		1,715		0.19	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	480		476		457		0.05	%
Midwest Eye Services, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.95	%	8/20/2027	8,906		8,870		8,836		0.96	%
Promptcare Infusion Buyer, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.42	%	9/1/2027	2,864		1,427		1,427		0.16	%
Promptcare Infusion Buyer, Inc.	(6) (9)	First Lien Debt	S + 6.00%	10.42	%	9/1/2027	8,099		8,069		8,099		0.88	%
Promptcare Infusion Buyer, Inc.	(6) (9)	First Lien Debt (Delayed Draw)	S + 6.00%	10.42	%	9/1/2027	1,262		1,260		1,262		0.14	%
QHR Health, LLC	(6) (12)	First Lien Debt	S + 5.25%	9.93	%	5/28/2027	7,581		7,544		7,581		0.82	%
QHR Health, LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.67	%	5/28/2027	3,207		3,204		3,207		0.35	%
QHR Health, LLC	(6) (12)	First Lien Debt	S + 5.25%	9.67	%	5/28/2027	3,207		3,176		3,207		0.35	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6) (12)	First Lien Debt	S + 6.25%	10.63	%	9/19/2028	7,833		7,679		7,759		0.84	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6) (12)	First Lien Debt	S + 6.25%	10.80	%	9/19/2028	9,481		9,340		9,391		1.02	%
SM Wellness Holdings, Inc. (Solis Mammography)	(6) (12)	First Lien Debt	S + 4.50%	9.05	%	4/17/2028	12,989		12,934		12,891		1.40	%
Smile Brands Inc.	(12)	Subordinated Debt	S + 8.50%	12.90	%	4/12/2028	11,723		11,692		9,390		1.02	%
TBRS, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.08	%	11/22/2031	2,209		(10)		(21)		—	%
TBRS, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	9.08	%	11/22/2030	1,406		71		71		0.01	%
TBRS, Inc.	(6) (9) (12)	First Lien Debt	S + 4.75%	9.08	%	11/22/2031	8,081		8,004		8,002		0.87	%
Tidi Legacy Products, Inc.	(6) (9) (12)	First Lien Debt	S + 5.25%	9.57	%	12/19/2029	15,329		15,207		15,454		1.68	%
Tidi Legacy Products, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.57	%	12/19/2029	4,085		—		33		—	%
VMG Holdings LLC (VMG Health)	(12)	First Lien Debt	S + 4.75%	9.05	%	4/16/2030	1,139		1,128		1,128		0.12	%
VMG Holdings LLC (VMG Health)	(6) (12)	First Lien Debt	S + 4.75%	9.05	%	4/16/2030	15,852		15,714		15,710		1.71	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Wellspring Pharmaceutical Corporation	(6) (12)	First Lien Debt	S + 5.00%	9.40	%	8/22/2028	$	7,294	$	7,253	$	7,283	0.79	%
Wellspring Pharmaceutical Corporation	(6)	First Lien Debt	S + 5.00%	9.40	%	8/22/2028	3,336		3,293		3,331		0.36	%
Wellspring Pharmaceutical Corporation	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.40	%	8/22/2028	1,551		1,544		1,549		0.17	%
Wellspring Pharmaceutical Corporation	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.40	%	8/22/2028	3,744		2,542		2,549		0.28	%
Wellspring Pharmaceutical Corporation	(6) (12)	First Lien Debt	S + 5.00%	9.40	%	8/22/2028	1,230		1,213		1,228		0.13	%
YI, LLC (Young Innovations)	(6) (9) (12)	First Lien Debt	S + 5.75%	10.05	%	12/3/2029	16,345		16,215		16,132		1.75	%
YI, LLC (Young Innovations)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	12/3/2029	3,448		—		(45)		—	%
Total Healthcare & Pharmaceuticals									348,939		339,777		36.93	%

High Tech Industries
Alta Buyer, LLC (GoEngineer)	(6) (9) (12)	First Lien Debt	S + 5.00%	9.30	%	12/21/2027	11,425		11,403		11,347		1.23	%
Alta Buyer, LLC (GoEngineer)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	12/21/2027	3,112		3,097		3,091		0.34	%
Alta Buyer, LLC (GoEngineer)	(9) (12)	First Lien Debt	S + 5.00%	9.30	%	12/21/2027	5,324		5,282		5,288		0.57	%
Diligent Corporation (fka Diamond Merger Sub II, Corp.)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	8/2/2030	2,553		(11)		(13)		—	%
Diligent Corporation (fka Diamond Merger Sub II, Corp.)	(9) (12)	First Lien Debt	S + 5.00%	9.31	%	8/2/2030	2,553		2,542		2,540		0.28	%
Diligent Corporation (fka Diamond Merger Sub II, Corp.)	(9) (12)	First Lien Debt	S + 5.00%	9.31	%	8/2/2030	14,894		14,830		14,819		1.62	%
Eliassen Group, LLC	(6) (9) (12)	First Lien Debt	S + 5.75%	10.05	%	4/14/2028	11,917		11,849		11,875		1.29	%
Eliassen Group, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	4/14/2028	858		857		855		0.09	%
Ensono, Inc.	(6) (12) (14)	First Lien Debt	S + 4.00%	8.44	%	5/26/2028	14,009		13,978		13,824		1.50	%
Exterro, Inc.	(6) (12)	First Lien Debt	S + 5.50%	9.97	%	6/1/2027	9,474		9,438		9,569		1.04	%
Infobase Acquisition, Inc.	(6)	First Lien Debt	S + 5.50%	10.03	%	6/14/2028	4,276		4,251		4,276		0.46	%
North Haven CS Acquisition, Inc.	(6) (12)	First Lien Debt	S + 5.25%	9.70	%	1/22/2027	5,699		5,699		5,699		0.62	%
North Haven CS Acquisition, Inc.	(6) (12)	First Lien Debt	S + 5.25%	9.70	%	1/22/2027	22,131		21,992		22,131		2.42	%
Prosci, Inc.	(6)	First Lien Debt	S + 4.50%	8.92	%	10/21/2026	4,733		4,717		4,733		0.51	%
Quartz Holding Company (Quickbase)	(6) (12)	First Lien Debt	S + 3.50%	7.82	%	10/2/2028	6,815		6,799		6,800		0.74	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.19	%	4/15/2027	742		741		709		0.08	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.19	%	4/15/2027	1,076		1,072		1,028		0.11	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.19	%	4/15/2027	239		238		228		0.02	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Revalize Inc. (f/k/a AQ Holdco Inc.)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.19	%	4/15/2027	$	3,447	$	3,443	$	3,295	0.36	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (12)	First Lien Debt	S + 4.50%	8.80	%	9/30/2031	683		677		677		0.07	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.80	%	9/30/2031	236		(1)		(2)		—	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (11) (12)	Revolving Loan	S + 4.50%	8.80	%	3/31/2031	79		21		21		—	%
Smart Wave Technologies, Inc.	(6) (12)	First Lien Debt	S + 6.00%	10.44	%	11/5/2026	8,701		8,660		7,651		0.83	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00%(PIK)		6/30/2028	1,897		1,878		1,801		0.20	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		6/30/2028	816		806		786		0.09	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 2.00% (PIK)		6/30/2028	2,173		2,173		2,063		0.22	%
Venture Buyer, LLC (Velosio)	(6) (9) (12)	First Lien Debt	S + 5.25%	9.54	%	3/1/2030	6,185		6,135		6,191		0.67	%
Venture Buyer, LLC (Velosio)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.57	%	3/1/2030	1,284		—		1		—	%
Total High Tech Industries									142,566		141,283		15.36	%

Hotel, Game & Leisure
Davidson Hotel Company LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	10/31/2031	1,052		(2)		(9)		—	%
Davidson Hotel Company LLC	(6)	First Lien Debt	S + 5.00%	9.32	%	10/31/2031	3,156		3,127		3,129		0.34	%
Total Hotel, Game & Leisure									3,125		3,120		0.34	%

Media: Advertising, Printing & Publishing
Calienger Acquisition, L.L.C. (Wpromote, LLC)	(6) (12)	First Lien Debt	S + 5.75%	10.17	%	10/23/2028	4,324		4,267		4,296		0.47	%
Tinuiti Inc.	(6) (9) (12)	First Lien Debt	S + 5.25%	9.65	%	12/10/2026	2,910		2,899		2,869		0.31	%
Tinuiti Inc.	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	12/10/2026	1,902		1,902		1,875		0.20	%
Tinuiti Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	12/10/2026	9,738		9,738		9,599		1.05	%
Total Media: Advertising, Printing & Publishing									18,806		18,639		2.03	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,753		3,710		3,590		0.39	%
Corporate Visions, Inc. (CVI Parent, Inc.)	(6) (12)	First Lien Debt	S + 1.00%	5.40% (Cash) 4.00% (PIK)		8/12/2027	2,609		2,590		2,014		0.22	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Corporate Visions, Inc. (CVI Parent, Inc.)	(6) (12)	First Lien Debt	S + 1.00%	5.40% (Cash) 4.00% (PIK)		8/12/2027	$	2,968	$	2,956	$	2,291	0.25	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt	S + 6.00%	7.81% (Cash) 2.50% (PIK)		12/9/2026	8,230		8,213		7,458		0.81	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	7.81% (Cash) 2.50% (PIK)		12/9/2026	2,929		2,918		2,654		0.29	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	7.81% (Cash) 2.50% (PIK)		12/9/2026	447		446		405		0.04	%
Total Media: Diversified & Production									20,833		18,412		2.00	%

Services: Business
ALKU Intermediate Holdings, LLC	(12)	First Lien Debt	S + 6.25%	10.47	%	5/23/2029	4,462		4,394		4,462		0.48	%
All4 Buyer, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.89	%	1/23/2032	2,385		(12)		(22)		—	%
All4 Buyer, LLC	(6)	First Lien Debt	S + 4.50%	8.79	%	1/23/2032	2,862		2,834		2,835		0.31	%
Archer Acquisition, LLC (ARMstrong)	(6) (12)	First Lien Debt	S + 5.00%	9.40	%	10/8/2029	11,304		11,167		11,200		1.21	%
Archer Acquisition, LLC (ARMstrong)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.41	%	10/8/2029	1,096		297		293		0.03	%
Bounteous, Inc.	(6) (12)	First Lien Debt	S + 4.75%	9.17	%	8/2/2027	5,279		5,257		5,269		0.57	%
Bounteous, Inc.	(12)	First Lien Debt	S + 4.75%	9.17	%	8/2/2027	2,161		2,151		2,157		0.23	%
Bounteous, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.17	%	8/2/2027	2,732		2,721		2,727		0.30	%
Bounteous, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.17	%	8/2/2027	3,532		3,532		3,525		0.38	%
Bullhorn, Inc.	(6) (9) (12)	First Lien Debt	S + 5.00%	9.32	%	10/1/2029	13,671		13,618		13,671		1.49	%
Businessolver.com, Inc.	(6) (9)	First Lien Debt	S + 5.50%	9.90	%	12/1/2027	7,642		7,606		7,642		0.83	%
Businessolver.com, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.90	%	12/1/2027	1,146		271		273		0.03	%
Caldwell & Gregory LLC	(12)	Subordinated Debt	S + 9.25%	13.55% (PIK)		3/31/2031	1,071		1,052		1,082		0.12	%
CDL Marketing Group, LLC (Career Now)	(12)	Subordinated Debt	N/A	13.00% (PIK)		3/30/2027	3,863		3,837		2,518		0.27	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Debt	S + 5.50%	9.82	%	9/24/2026	304		303		304		0.03	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Debt	S + 5.50%	9.82	%	9/24/2026	2,265		2,258		2,265		0.25	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Debt (Delayed Draw)	S + 5.50%	9.82	%	9/24/2026	208		207		208		0.02	%
Cornerstone Advisors of Arizona, LLC	(6)	First Lien Debt	S + 5.50%	9.82	%	9/24/2026	3,414		3,395		3,414		0.37	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6) (12)	First Lien Debt	S + 5.00%	9.45	%	9/15/2028	7,396		7,304		7,265		0.79	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.47	%	9/15/2028	2,354		2,341		2,312		0.25	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

DH United Holdings, LLC (D&H United Fueling Solutions)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.45	%	9/15/2028	$	1,551	$	1,547	$	1,524	0.17	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6) (12)	First Lien Debt	S + 5.00%	9.45	%	9/15/2028	3,422		3,373		3,361		0.37	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.58	%	9/15/2028	5,129		4,309		4,238		0.46	%
Element 78 Partners, LLC (E78)	(6) (12)	First Lien Debt	S + 5.50%	9.92	%	12/1/2027	5,529		5,501		5,529		0.60	%
Element 78 Partners, LLC (E78)	(12)	First Lien Debt	S + 5.50%	9.92	%	12/1/2027	1,420		1,412		1,420		0.15	%
Element 78 Partners, LLC (E78)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.92	%	12/1/2027	15,233		—		—		—	%
Element 78 Partners, LLC (E78)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.92	%	12/1/2027	4,157		4,137		4,157		0.45	%
Element 78 Partners, LLC (E78)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.92	%	12/1/2027	3,516		3,110		3,110		0.34	%
Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC)	(6) (9) (12)	First Lien Debt	S + 6.25%	10.70	%	12/23/2026	9,675		9,620		9,675		1.05	%
Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.20	%	12/23/2026	6,706		6,611		6,706		0.73	%
Esquire Deposition Solutions, LLC	(12)	Subordinated Debt	N/A	14.00% (PIK)		6/30/2029	1,862		1,825		1,844		0.20	%
Gabriel Partners, LLC	(12)	First Lien Debt	S + 6.25%	10.71	%	9/21/2026	662		659		639		0.07	%
Gabriel Partners, LLC	(6) (9) (12)	First Lien Debt	S + 6.25%	10.71	%	9/21/2026	9,072		9,051		8,767		0.95	%
Gabriel Partners, LLC	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.25%	10.71	%	9/21/2026	1,511		1,511		1,461		0.16	%
Gabriel Partners, LLC	(6) (9) (12)	First Lien Debt	S + 6.25%	10.71	%	9/21/2026	3,745		3,734		3,619		0.39	%
Integrated Power Services Holdings, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.94	%	11/22/2028	3,165		(7)		—		—	%
Integrated Power Services Holdings, Inc.	(12)	First Lien Debt	S + 4.50%	8.94	%	11/22/2028	3,973		3,971		3,973		0.43	%
KENG Acquisition, Inc. (Enagage PEO)	(6) (9) (12)	First Lien Debt	S + 5.00%	9.32	%	8/1/2029	9,546		9,431		9,462		1.03	%
KENG Acquisition, Inc. (Enagage PEO)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	8/1/2029	9,270		5,755		5,688		0.62	%
KENG Acquisition, Inc. (Enagage PEO)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	8/1/2029	1,074		(2)		(9)		—	%
KRIV Acquisition, Inc. (Riveron)	(6) (12)	First Lien Debt	S + 5.75%	10.05	%	7/6/2029	10,629		10,398		10,578		1.15	%
KRIV Acquisition, Inc. (Riveron)	(12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	7/6/2029	1,594		1,580		1,587		0.17	%
LRN Corporation (Lion Merger Sub, Inc.)	(9) (12)	First Lien Debt	S + 6.50%	10.90	%	12/17/2025	7,227		7,216		7,160		0.78	%
LRN Corporation (Lion Merger Sub, Inc.)	(9) (12)	First Lien Debt	S + 6.50%	10.90	%	12/17/2025	7,204		7,181		7,137		0.78	%
OCM System One Buyer CTB, LLC (System One)	(6)	First Lien Debt	S + 3.75%	8.05	%	3/2/2028	3,196		3,196		3,189		0.35	%
Olympus US Bidco LLC (Phaidon International)	(6) (10) (12)	First Lien Debt	S + 5.50%	9.92	%	8/22/2029	13,260		13,174		12,993		1.41	%
Output Services Group, Inc.	(10) (12)	First Lien Debt	S + 8.00%	12.86	%	5/30/2028	155		155		155		0.02	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Output Services Group, Inc.	(12)	First Lien Debt	S + 6.25%	11.11	%	11/30/2028	$	837	$	837	$	837	0.09	%
PLZ Corp (PLZ Aeroscience)	(12)	Subordinated Debt	S + 7.50%	11.94	%	7/7/2028	13,500		13,272		12,240		1.33	%
Redwood Services Group, LLC (Evergreen Services Group)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	6/15/2029	2,958		(14)		(26)		—	%
Redwood Services Group, LLC (Evergreen Services Group)	(6) (9) (12)	First Lien Debt	S + 5.25%	9.55	%	6/15/2029	14,135		13,953		14,009		1.52	%
Redwood Services Group, LLC (Evergreen Services Group)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	6/15/2029	2,827		2,808		2,802		0.30	%
Safety Infrastructure Services Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	7/21/2028	3,969		705		599		0.07	%
Safety Infrastructure Services Intermediate LLC	(6) (12)	First Lien Debt	S + 4.75%	9.05	%	7/21/2028	7,085		7,025		6,879		0.75	%
Sagebrush Buyer, LLC (Province)	(6) (12)	First Lien Debt	S + 5.00%	9.32	%	7/1/2030	4,793		4,750		4,749		0.52	%
Scaled Agile, Inc.	(6) (9) (12)	First Lien Debt	S + 2.35%	6.65% (Cash) 3.75% (PIK)		12/15/2028	7,908		7,863		6,843		0.74	%
Scaled Agile, Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 2.35%	6.65% (Cash) 3.75% (PIK)		12/15/2028	385		385		334		0.04	%
Secretariat Advisors LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.00%	8.31	%	2/24/2032	910		—		(4)		—	%
Secretariat Advisors LLC	(6) (12)	First Lien Debt	S + 4.00%	8.31	%	2/24/2032	7,549		7,512		7,514		0.82	%
Tau Buyer, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	2/2/2032	3,427		120		105		0.01	%
Tau Buyer, LLC	(9) (11) (12)	Revolving Loan	S + 4.75%	9.05	%	2/2/2032	1,720		(17)		(16)		—	%
Tau Buyer, LLC	(6) (9) (12)	First Lien Debt	S + 4.75%	9.05	%	2/2/2032	9,853		9,759		9,760		1.06	%
Transit Buyer, LLC (Propark Mobility)	(6)	First Lien Debt	S + 5.00%	9.32	%	1/31/2029	6,738		6,648		6,760		0.73	%
Transit Buyer, LLC (Propark Mobility)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	1/31/2029	3,101		2,638		2,689		0.29	%
Transit Buyer, LLC (Propark Mobility)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	1/31/2029	10,147		10,129		10,181		1.11	%
Trilon Group, LLC	(6) (12)	First Lien Debt	S + 5.50%	9.80	%	5/25/2029	27,686		27,541		27,882		3.03	%
Trilon Group, LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.81	%	5/25/2029	1,870		1,862		1,883		0.20	%
TSS Buyer, LLC (Technical Safety Services)	(6)	First Lien Debt	S + 5.50%	9.94	%	6/22/2029	6,686		6,642		6,686		0.73	%
TSS Buyer, LLC (Technical Safety Services)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.94	%	6/22/2029	6,347		5,090		5,147		0.56	%
TSS Buyer, LLC (Technical Safety Services)	(6) (12)	First Lien Debt	S + 5.50%	9.94	%	6/22/2029	1,866		1,845		1,866		0.20	%
Victors CCC Buyer LLC (CrossCountry Consulting)	(6) (9)	First Lien Debt	S + 4.75%	9.07	%	6/1/2029	8,071		7,963		8,151		0.89	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Victors CCC Buyer LLC (CrossCountry Consulting)	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.07	%	6/1/2029	$	828	$	823	$	836	0.09	%
VRC Companies, LLC (Vital Records Control)	(6) (9)	First Lien Debt	S + 5.50%	10.05	%	6/29/2027	4,524		4,500		4,507		0.49	%
VRC Companies, LLC (Vital Records Control)	(6) (9)	First Lien Debt	S + 5.75%	10.07	%	6/29/2027	330		327		330		0.04	%
Total Services: Business									337,947		334,906		36.40	%

Services: Consumer
360 Holdco, Inc. (360 Training)	(6)	First Lien Debt	S + 5.00%	9.32	%	8/2/2028	3,429		3,402		3,429		0.37	%
360 Holdco, Inc. (360 Training)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	8/2/2028	3,093		—		—		—	%
ADPD Holdings LLC (NearU)	(9) (12)	First Lien Debt	S + 6.00%	10.47	%	8/16/2028	9,739		9,706		9,304		1.01	%
ADPD Holdings LLC (NearU)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.70	%	8/16/2028	253		—		(11)		—	%
ADPD Holdings LLC (NearU)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.70	%	8/16/2028	1,427		—		(64)		(0.01	%)
AMS Parent, LLC (All My Sons)	(6)	First Lien Debt	S + 5.00%	9.44	%	10/25/2028	5,190		5,161		5,166		0.56	%
Apex Service Partners, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	10/24/2030	154		98		97		0.01	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	10/24/2030	155		154		154		0.02	%
Apex Service Partners, LLC	(9) (11) (12)	Revolving Loan	S + 5.00%	9.31	%	10/24/2029	55		46		46		—	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt	S + 5.00%	9.31	%	10/24/2030	632		626		628		0.07	%
Athlete Buyer, LLC (Allstar Holdings)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	14.00% (PIK)		1/7/2032	2,510		(30)		(84)		(0.01	%)
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	881		863		840		0.09	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(12)	Subordinated Debt (Delayed Draw)	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	673		666		641		0.07	%
Excel Fitness Holdings, Inc.	(6) (12)	First Lien Debt	S + 5.25%	9.55	%	4/27/2029	9,825		9,748		9,825		1.07	%
Excel Fitness Holdings, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.80	%	4/27/2029	2,370		459		473		0.05	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(6) (12)	First Lien Debt	S + 5.25%	9.70	%	1/9/2029	10,033		9,894		9,991		1.08	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.70	%	1/9/2029	4,676		4,663		4,657		0.51	%
Legacy Service Partners, LLC	(12)	First Lien Debt	S + 5.25%	9.70	%	1/9/2029	2,926		2,900		2,914		0.32	%
Liberty Buyer, Inc. (Liberty Group)	(6) (9) (12)	First Lien Debt	S + 5.75%	10.11	%	6/15/2028	3,879		3,858		3,759		0.41	%
Liberty Buyer, Inc. (Liberty Group)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.09	%	6/15/2028	292		292		283		0.03	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		3/18/2029	723		714		615		0.07	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	1.00% (Cash) 10.00% (PIK)		3/18/2029	2,670		2,638		2,271		0.25	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt (Delayed Draw)	N/A	1.00% (Cash) 10.00% (PIK)		3/18/2029	$	231	$	231	$	196	0.02	%
NJEye LLC	(6)	First Lien Debt	S + 4.75%	9.20	%	6/14/2025	4,678		4,677		4,678		0.51	%
NJEye LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.26	%	6/14/2025	613		613		613		0.07	%
NJEye LLC	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.23	%	6/14/2025	785		785		785		0.09	%
NJEye LLC	(6)	First Lien Debt	S + 4.75%	9.22	%	6/14/2025	780		780		780		0.08	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	5,000		—		(64)		(0.01	%)
North Haven Fairway Buyer, LLC (Fairway Lawns)	(12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	4,380		4,380		4,324		0.47	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	6,324		4,684		4,603		0.50	%
North Haven Spartan US Holdco LLC	(6)	First Lien Debt	S + 5.75%	10.04	%	6/8/2026	2,470		2,470		2,470		0.27	%
North Haven Spartan US Holdco LLC	(6)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	6/8/2026	214		214		214		0.02	%
North Haven Spartan US Holdco LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.04	%	6/8/2026	3,260		808		815		0.09	%
One World Fitness PFF, LLC	(6)	First Lien Debt	S + 5.25%	9.65% (Cash) 1.00% (PIK)		11/26/2025	3,883		3,884		3,798		0.41	%
Perennial Services Group, LLC	(6)	First Lien Debt	S + 5.50%	9.91	%	9/7/2029	6,648		6,575		6,715		0.73	%
Perennial Services Group, LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.91	%	9/7/2029	5,950		5,945		6,009		0.65	%
Wrench Group LLC	(6) (9)	First Lien Debt	S + 4.00%	8.56	%	10/30/2028	9,950		9,940		9,713		1.06	%
Total Services: Consumer									101,844		100,583		10.93	%

Sovereign & Public Finance
Renaissance Buyer, LLC (LMI Consulting, LLC)	(6) (12)	First Lien Debt	S + 5.50%	9.79	%	7/18/2028	12,102		12,010		12,204		1.33	%
Total Sovereign & Public Finance									12,010		12,204		1.33	%

Telecommunications
BCM One, Inc.	(6)	First Lien Debt	S + 4.50%	8.87	%	11/17/2027	5,697		5,697		5,697		0.62	%
BCM One, Inc.	(6)	First Lien Debt (Delayed Draw)	S + 4.50%	8.84	%	11/17/2027	1,803		1,803		1,803		0.20	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 6.25%	10.60	%	4/16/2027	1,805		1,786		1,823		0.20	%
MBS Holdings, Inc.	(6) (9) (12)	First Lien Debt	S + 5.75%	10.10	%	4/16/2027	9,925		9,892		9,925		1.08	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 6.50%	10.85	%	4/16/2027	1,298		1,283		1,311		0.14	%
Mobile Communications America, Inc.	(6) (12)	First Lien Debt	S + 5.25%	9.55	%	10/16/2029	18,274		18,077		18,364		2.00	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Mobile Communications America, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	10/16/2029	$	5,960	$	1,676	$	1,739	0.19	%
Sapphire Telecom, Inc.	(6) (12)	First Lien Debt	S + 5.00%	9.30	%	6/27/2029	18,995		18,834		19,143		2.07	%
Tyto Athene, LLC	(6) (12)	First Lien Debt	S + 4.75%	9.21	%	4/3/2028	7,157		7,119		6,978		0.76	%
Total Telecommunications									66,167		66,783		7.26	%

Transportation: Cargo
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.21	%	8/3/2026	260		260		240		0.03	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(6) (9)	First Lien Debt	S + 6.75%	11.21	%	8/3/2026	902		902		833		0.09	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 5.50%	9.96	%	8/3/2026	183		182		169		0.02	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.21	%	8/3/2026	4,405		4,403		4,066		0.44	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.21	%	8/3/2026	1,371		1,370		1,265		0.14	%
Armstrong Midco, LLC (Armstrong Transport Group)	(12)	Subordinated Debt	N/A	17.00% (PIK)		6/30/2027	1,155		1,140		1,132		0.12	%
Armstrong Transport Group, LLC	(12)	Subordinated Debt	N/A	7.00% (Cash) 7.00% (PIK)		6/30/2027	7,751		7,642		7,596		0.83	%
FSK Pallet Holding Corp. (Kamps Pallets)	(6) (12)	First Lien Debt	S + 6.00%	10.44	%	12/23/2026	9,750		9,665		9,515		1.03	%
Kenco PPC Buyer LLC	(6) (12)	First Lien Debt	S + 4.75%	9.00	%	11/15/2029	21,827		21,680		21,613		2.34	%
Kenco PPC Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	11/15/2029	3,839		1,051		1,037		0.11	%
Kenco PPC Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	11/15/2029	4,111		(35)		(40)		—	%
R1 Holdings, LLC (RoadOne)	(12)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	5,006		4,907		4,864		0.52	%
SEKO Global Logistics Network, LLC	(12)	First Lien Debt	S + 8.00%	12.32	%	11/27/2029	426		418		426		0.05	%
SEKO Global Logistics Network, LLC	(12)	First Lien Debt	S + 5.00%	9.32	%	5/27/2030	1,626		1,626		1,626		0.18	%
TI Acquisition NC, LLC	(6)	First Lien Debt	S + 4.75%	9.03	%	3/19/2027	2,744		2,703		2,744		0.30	%
Total Transportation: Cargo									57,914		57,086		6.20	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Transportation: Consumer
American Student Transportation Partners, Inc.	(12)	Subordinated Debt	N/A	13.50	%	9/11/2029	$	2,264	$	2,220	$	2,214	0.24	%
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)	(6) (9) (12)	First Lien Debt	S + 5.50%	9.82	%	2/14/2031	10,533		10,446		10,439		1.13	%
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.82	%	2/14/2031	3,040		—		(27)		—	%
Total Transportation: Consumer									12,666		12,626		1.37	%

Utilities: Electric
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (12)	First Lien Debt	S + 5.00%	9.32	%	8/27/2031	10,434		10,339		10,461		1.14	%
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	8/27/2031	2,615		(12)		7		—	%
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (11) (12)	Revolving Loan	S + 5.00%	9.32	%	8/27/2031	1,925		983		1,006		0.11	%
DMC Holdco, LLC (DMC Power)	(6)	First Lien Debt	S + 4.75%	9.07	%	7/13/2029	4,937		4,881		4,965		0.54	%
DMC Holdco, LLC (DMC Power)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.07	%	7/13/2029	1,671		(3)		9		—	%
Pinnacle Supply Partners, LLC	(6)	First Lien Debt	S + 6.25%	10.67	%	4/3/2030	6,252		6,157		6,155		0.67	%
Pinnacle Supply Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 6.25%	10.65	%	10/3/2026	3,621		1,966		1,928		0.21	%
Total Utilities: Electric									24,311		24,531		2.67	%

Utilities: Water
USA Water Intermediate Holdings, LLC	(6) (12)	First Lien Debt	S + 4.75%	9.04	%	2/21/2031	7,818		7,753		7,818		0.85	%
USA Water Intermediate Holdings, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	2/21/2031	3,035		611		611		0.07	%
Total Utilities: Water									8,364		8,429		0.92	%

Wholesale
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(6)	First Lien Debt	S + 5.50%	9.94	%	1/19/2029	3,775		3,738		3,738		0.41	%
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(6)	First Lien Debt	S + 5.50%	9.94	%	1/19/2029	7,861		7,755		7,784		0.84	%
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.94	%	1/19/2029	1,979		1,954		1,959		0.21	%
ISG Enterprises, LLC (Industrial Service Group)	(6)	First Lien Debt	S + 5.75%	10.04	%	12/7/2028	6,443		6,356		6,333		0.68	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

ISG Enterprises, LLC (Industrial Service Group)	(6)	First Lien Debt (Delayed Draw)	S + 5.75%	10.04	%	12/7/2028	$	3,355	$	3,346	$	3,297	0.36	%
Micronics Filtration Holdings, Inc.	(12)	Subordinated Debt	S + 5.50%	9.81	%	2/17/2027	2,450		2,420		2,450		0.27	%
TPC Wire & Cable Corp.	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	2,278		2,265		2,246		0.24	%
TPC Wire & Cable Corp.	(12)	Subordinated Debt (Delayed Draw)	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	932		932		919		0.10	%
TPC Wire & Cable Corp.	(12)	Subordinated Debt (Delayed Draw)	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	1,736		1,737		1,712		0.19	%
Total Wholesale									30,503		30,438		3.30	%

Total Debt Investments									2,073,219		2,042,453		222.00	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)

Equity Investments
Aerospace & Defense
BPC Kodiak LLC (Turbine Engine Specialists)	(8) (12) (15)	Class A-1 Units	9/1/2023	1,530,000	$	1,530	$	1,897	0.21	%
Total Aerospace & Defense					1,530		1,897		0.21	%

Automotive
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	LP Interests	12/31/2024	998,311	402		403		0.04	%
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	LP Interests	12/31/2024	1,836,884	404		—		—	%
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	LP Interests	12/31/2024	998,311	—		—		—	%
Covercraft Parent III, Inc.	(8) (12)	LP Interests	8/20/2021	768	768		—		—	%
HBB Parent, LLC (High Bar Brands)	(8) (10) (12)	LP Interests	12/19/2023	303,000	303		341		0.04	%
Pegasus Aggregator Holdings LP (S&S Truck Parts)	(8) (12)	LP Interests	12/31/2024	7	668		658		0.07	%
Phoenix Topco Holdings LP (S&S Truck Parts)	(8) (10) (12)	Partnership Interests	6/3/2024	1,000	974		1,092		0.12	%
Phoenix Topco Holdings LP (S&S Truck Parts)	(8) (10) (12)	Warrants	6/3/2024	1,000	1		—		—	%
Total Automotive					3,520		2,494		0.27	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Beverage, Food & Tobacco
Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(8) (10) (12)	Common Units	7/13/2022	14,777	$	1,860	$	2,374	0.26	%
VCP Tech24 Co-Invest Aggregator LP (Tech24)	(8) (12)	Company Unit	10/5/2023	954	954		841		0.09	%
WPP Fairway Aggregator B, L.P (Fresh Edge)	(8) (12)	Class B Common Units	10/3/2022	698	5		—		—	%
WPP Fairway Aggregator B, L.P (Fresh Edge)	(8) (12)	Class A Preferred Units	10/3/2022	698	698		569		0.06	%
Total Beverage, Food & Tobacco					3,517		3,784		0.41	%

Capital Equipment
CMG HoldCo, LLC (Crete)	(8) (12)	Equity Co-Investment	5/19/2022	24	249		814		0.09	%
EFC Holdings, LLC (EFC International)	(8) (10) (12)	Class A Common Units	3/1/2023	148	60		121		0.01	%
EFC Holdings, LLC (EFC International)	(8) (10) (12)	Series A Preferred Units	3/1/2023	148	148		175		0.02	%
E-Tech Holdings Partnership, L.P. (E-Technologies Group, Inc.)	(8) (12)	Partnership Interests	5/22/2024	1,000,000	1,000		654		0.07	%
Lapmaster Co-Investment, LLC (Precision Surfacing Solutions)	(8) (10) (12)	Common Units	10/5/2022	3,750,000	3,750		6,086		0.66	%
Total Capital Equipment					5,207		7,850		0.85	%

Construction & Building
Erie Construction, LLC (Erie Construction)	(8) (10) (12)	Common Units	9/3/2021	166	166		571		0.06	%
Oceansound Partners Co-Invest II, LP (Gannett Fleming)	(8) (12)	Series F Units	5/26/2023	1,272,139	1,272		1,313		0.15	%
OSP Gannett Aggregator, LP (Gannett Fleming)	(8) (12) (15)	Limited Partnership Interests	12/20/2022	894,607	895		923		0.10	%
RPI Investments LP (Rose Paving)	(8) (12)	Limited Partnership Interests	11/27/2024	690	100		98		0.01	%
Total Construction & Building					2,433		2,905		0.32	%

Consumer Goods: Non-durable
Ultima Health Holdings, LLC	(8) (12)	Preferred Units	9/12/2022	15	170		247		0.03	%
Total Consumer Goods: Non-durable					170		247		0.03	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Containers, Packaging & Glass
Conversion Holdings, L.P. (Specialized Packaging Group)	(8) (10) (12)	Class A Units	12/17/2020	147,708	$	148	$	156	0.02	%
Oliver Investors, LP (Oliver Packaging)	(8) (12)	Class A Common Units	7/12/2022	11,916	1,131		423		0.04	%
Total Containers, Packaging & Glass					1,279		579		0.06	%

Healthcare & Pharmaceuticals
HMA Equity, LP (Health Management Associates)	(8) (12)	AA Equity Co-Invest	3/30/2023	399,904	400		446		0.05	%
MDC Group Holdings, LP (Mosaic Dental)	(8) (10) (12)	AA Equity Co-Invest	2/7/2023	245	245		146		0.02	%
RCP Nats Co-Investment Fund LP	(8) (12)	LP Interests	3/18/2025	1,000,000	1,000		1,000		0.10	%
REP Coinvest III AAD, L.P. (Anne Arundel)	(8) (12)	AA Equity Co-Invest	10/16/2020	12,175	880		—		—	%
REP HS Holdings, LLC (HemaSource)	(8) (12)	LP Interests	8/31/2023	577,000	577		800		0.09	%
Total Healthcare & Pharmaceuticals					3,102		2,392		0.26	%

High Tech Industries
Solve Group Holdings, L.P. (Solve Industrial)	(8) (12)	LP Interests	6/30/2021	313	313		153		0.02	%
Total High Tech Industries					313		153		0.02	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(8) (12)	Series A-3 Preferred Units	10/4/2022	56,899	853		637		0.07	%
Total Media: Diversified & Production					853		637		0.07	%

Services: Business
CDL Marketing Group, LLC (Career Now)	(8) (12)	Common Equity	9/30/2021	624	624		—		—	%
CDL Marketing Group, LLC (Career Now)	(8) (12)	Series B Limited Partnership Units	10/23/2023	222	22		—		—	%
Concord FG Holdings, LP (E78)	(8) (10) (12)	Class A Common Units	12/1/2021	816	860		907		0.10	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Geds Equity Investors, LP (Esquire Deposition Services)	(8) (12)	Class A Common Units	7/1/2024	2,424	$	320	$	291	0.03	%
KRIV Co-Invest Holdings, L.P. (Riveron)	(8) (12)	Class A Common Units	7/17/2023	790	790		723		0.08	%
North Haven Terrapin IntermediateCo, LLC (Apex Companies)	(8) (10) (12)	Class A Common Units	1/31/2023	1,173	117		147		0.02	%
OSG Topco Holdings, LLC (Output Services Group, Inc.)	(8) (10) (12)	Class A Units	11/30/2023	47,021	833		833		0.09	%
Total Services: Business					3,566		2,901		0.32	%

Services: Consumer
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(8) (12)	Class B Units	7/31/2023	997,000	1,117		929		0.10	%
FS NU Investors, LP (NearU)	(8) (9) (12)	Class B Units	8/11/2022	2,432	243		155		0.02	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(8) (12)	Class B Units	2/28/2025	121	14		15		—	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(8) (12)	Class B Units	1/9/2023	4,907	491		592		0.06	%
Perennial Services Investors LLC (Perennial Services Group)	(8) (10) (12)	Class A Units	9/8/2023	7,784	778		1,030		0.11	%
Repipe Aggregator, LLC (Repipe Specialists)	(8) (10) (12)	Purchased Units	3/31/2022	253	253		66		0.01	%
Total Services: Consumer					2,896		2,787		0.30	%

Sovereign & Public Finance
CMP Ren Partners I-A LP (LMI Consulting, LLC)	(8) (12)	Limited Partnership Interests	6/30/2022	633,980	634		1,206		0.13	%
Total Sovereign & Public Finance					634		1,206		0.13	%

Transportation: Cargo
Red Griffin TopCo, LLC (Seko Global Logistics LLC)	(8) (12)	Partnership Units	11/27/2024	778	2,820		2,366		0.25	%
Red Griffin TopCo, LLC (Seko Global Logistics LLC)	(8) (12)	Partnership Units	11/27/2024	409	1,481		1,243		0.14	%
REP RO Coinvest IV-A, LP (RoadOne)	(8) (12)	Partnership Units	12/29/2022	938,576	939		760		0.08	%
Total Transportation: Cargo					5,240		4,369		0.47	%

Transportation: Consumer
ASTP Holdings CO-Investment LP (American Student Transportation Partners)	(8) (12)	Limited Partnership Interest	9/11/2023	102,475	102		143		0.02	%
Total Transportation: Consumer					102		143		0.02	%

(1)Unless otherwise indicated, 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.


Portfolio Company (1) (2) (7)	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
Arotech Corporation	(6) (12)	First Lien Term Loan	S + 6.00%	10.69	%	10/22/2026	$	14,965	$	14,459	$	14,965	1.54	%
Arotech Corporation	(6) (12)	First Lien Term Loan (Delayed Draw)	S + 6.00%	10.45	%	10/22/2026	728		705		728		0.08	%
BlueHalo Global Holdings, LLC (AEgis Technologies)	(6) (12) (13)	First Lien Term Loan	S + 6.00%	10.41	%	10/31/2025	19,949		19,888		19,852		2.05	%
ERA Industries, LLC (BTX Precision)	(12)	First Lien Term Loan	S + 5.00%	9.36	%	7/25/2030	1,567		1,548		1,549		0.16	%
ERA Industries, LLC (BTX Precision)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.43	%	7/25/2030	898		743		735		0.08	%
PAG Holding Corp. (Precision Aviation Group)	(6) (13)	First Lien Term Loan	S + 5.25%	9.58	%	12/21/2029	14,889		14,628		14,836		1.53	%
PAG Holding Corp. (Precision Aviation Group)	(12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.58	%	12/21/2029	4,936		4,894		4,918		0.51	%
Signia Aerospace, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 3.00%	7.40	%	12/11/2031	122		—		—		—	%
Signia Aerospace, LLC	(6) (9)	First Lien Term Loan	S + 3.00%	7.40	%	12/11/2031	1,470		1,466		1,467		0.15	%
STS Holding, Inc.	(6)	First Lien Term Loan	S + 4.75%	9.08	%	10/31/2030	3,865		3,827		3,829		0.39	%
Turbine Engine Specialists, Inc.	(12)	Subordinated Debt	S + 9.50%	13.96	%	3/1/2029	2,530		2,478		2,530		0.26	%
Valkyrie Intermediate, LLC	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,865		2,830		2,823		0.29	%
Total Aerospace & Defense									67,466		68,232		7.04	%

Automotive
Covercraft Parent III, Inc.	(12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	7,534		7,454		6,701		0.69	%
High Bar Brands Operating, LLC	(12)	Subordinated Debt	N/A	13.00	%	6/19/2030	2,088		2,043		2,061		0.21	%
High Bar Brands Operating, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	13.00	%	6/19/2030	596		(6)		(8)		—	%
JEGS Automotive	(12)	Revolving Loan	S + 6.00%	11.33	%	12/22/2029	203		203		203		0.02	%
JEGS Automotive	(6)	First Lien Term Loan	S + 6.00%	11.33	%	12/22/2029	1,222		1,222		1,222		0.13	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(6) (13)	First Lien Term Loan	S + 5.00%	9.39	%	4/18/2028	12,563		12,485		12,484		1.29	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(12)	First Lien Term Loan	S + 5.00%	9.39	%	4/18/2028	2,425		2,403		2,410		0.25	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(6) (9) (12) (13)	First Lien Term Loan	S + 5.00%	9.57	%	11/1/2028	11,025		10,865		10,908		1.12	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.57	%	11/1/2028	3,744		1,108		1,068		0.11	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Term Loan	S + 5.00%	9.62	%	3/1/2029	$	7,935	$	7,883	$	7,830	0.81	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.46	%	3/1/2029	97		97		96		0.01	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.61	%	3/1/2029	1,707		1,707		1,685		0.17	%
RA Parent Holdings LP (S&S Truck Parts)	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.46	%	3/1/2029	20,033		19,849		19,767		2.04	%
Total Automotive									67,313		66,427		6.85	%

Banking, Finance, Insurance, Real Estate
Accession Risk Management Group, Inc. (f/k/a RSC Acquisition Inc)	(6) (9) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.08	%	11/1/2029	9,744		9,744		9,620		0.99	%
Ascend Partner Services LLC	(12) (13)	First Lien Term Loan	S + 4.50%	8.86	%	8/11/2031	7,358		7,286		7,289		0.75	%
Ascend Partner Services LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.50%	8.86	%	8/11/2031	12,642		(60)		(119)		(0.01	%)
Big Apple Advisory, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	P + 3.50%	11.00	%	11/18/2031	4,305		(21)		(41)		—	%
Big Apple Advisory, LLC	(11) (12)	Revolving Loan	P + 3.50%	11.00	%	11/18/2031	1,740		(17)		(17)		—	%
Big Apple Advisory, LLC	(12)	First Lien Term Loan	P + 3.50%	11.00	%	11/18/2031	8,955		8,866		8,869		0.91	%
Cohen Advisory, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.50%	8.83	%	12/31/2031	4,825		(24)		(48)		—	%
Cohen Advisory, LLC	(12)	First Lien Term Loan	S + 4.50%	8.83	%	12/31/2031	8,685		8,599		8,599		0.88	%
Illumifin Corporation (Long Term Care Group)	(6) (9) (12)	First Lien Term Loan	S + 3.27%	11.88	%	9/8/2027	7,274		7,257		6,650		0.69	%
Patriot Growth Insurance Services, LLC	(9) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.48	%	10/16/2028	7,100		7,052		7,091		0.73	%
Smith & Howard Advisory LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.23	%	11/26/2030	2,351		(6)		(23)		—	%
Smith & Howard Advisory LLC	(6)	First Lien Term Loan	S + 4.75%	9.11	%	11/26/2030	2,915		2,886		2,887		0.30	%
Vensure Employer Services, Inc.	(9) (12)	First Lien Term Loan	S + 5.00%	9.34	%	9/27/2031	2,733		2,708		2,718		0.28	%
Vensure Employer Services, Inc.	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.65	%	9/27/2031	567		(3)		(3)		—	%
World Insurance Associates, LLC	(6) (9) (12)	First Lien Term Loan	S + 6.00%	10.33	%	4/3/2028	14,731		14,720		14,716		1.51	%
Total Banking, Finance, Insurance, Real Estate									68,987		68,188		7.03	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Beverage, Food & Tobacco
AmerCareRoyal, LLC	(6)	First Lien Term Loan	S + 5.00%	9.36	%	9/10/2030	$	720	$	713	$	713	0.07	%
AmerCareRoyal, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.36	%	9/10/2030	165		—		(2)		—	%
AmerCareRoyal, LLC	(12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.36	%	9/10/2030	115		114		114		0.01	%
Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(12)	Subordinated Debt	S + 7.75%	12.96	%	8/30/2027	9,300		9,188		9,221		0.95	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (9) (12) (14)	Subordinated Debt	S + 7.25%	11.72	%	6/8/2029	9,000		8,891		8,359		0.86	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (10) (13) (14)	First Lien Term Loan	S + 4.00%	8.47	%	6/9/2028	10,518		10,070		10,147		1.05	%
Boardwalk Buyer LLC (Death Wish Coffee)	(6) (9) (13)	First Lien Term Loan	S + 5.00%	9.43	%	9/28/2027	9,700		9,653		9,700		1.00	%
Commercial Bakeries Corp.	(6) (10) (12)	First Lien Term Loan	S + 5.50%	9.83	%	9/25/2029	17,109		16,829		16,905		1.74	%
Commercial Bakeries Corp.	(6) (10)	First Lien Term Loan	S + 5.50%	9.99	%	9/25/2029	2,024		2,009		2,000		0.21	%
FoodScience, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.08	%	11/14/2031	6,322		(16)		(61)		(0.01	%)
FoodScience, LLC	(12)	First Lien Term Loan	S + 4.75%	9.08	%	11/14/2031	5,927		5,868		5,870		0.60	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	9.16% (Cash) 5.13% (PIK)		4/3/2029	4,077		4,007		3,963		0.41	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	9.16% (Cash) 5.13% (PIK)		4/3/2029	814		798		791		0.08	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	9.16% (Cash) 5.13% (PIK)		4/3/2029	963		943		937		0.10	%
LHS Acquistion, LLC (Summit Hill Foods)	(6)	First Lien Term Loan	S + 5.75%	10.26	%	11/29/2029	8,053		7,946		8,024		0.83	%
Palmetto Acquisitionco, Inc. (Tech24)	(6)	First Lien Term Loan	S + 5.75%	10.08	%	9/18/2029	13,181		12,987		12,986		1.33	%
Palmetto Acquisitionco, Inc. (Tech24)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.24	%	9/18/2029	4,821		3,091		3,035		0.31	%
Refresh Buyer, LLC (Sunny Sky Products)	(6) (12)	First Lien Term Loan	S + 4.50%	9.58	%	12/23/2028	7,023		6,965		6,963		0.72	%
Refresh Buyer, LLC (Sunny Sky Products)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.50%	9.58	%	12/23/2028	1,773		—		(15)		—	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)		First Lien Term Loan	S + 4.50%	9.24	%	7/30/2025	2,820		2,815		2,762		0.28	%
Watermill Express, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.23	%	7/5/2029	2,374		573		578		0.06	%
Watermill Express, LLC	(9) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.77	%	7/5/2029	3,162		3,162		3,162		0.33	%
Watermill Express, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.25%	9.73	%	7/5/2029	6,311		6,256		6,311		0.65	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Watermill Express, LLC	(6) (9)	First Lien Term Loan	S + 5.25%	9.73	%	7/5/2029	$	3,220	$	3,205	$	3,220	0.33	%
Watermill Express, LLC	(6) (9)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.73	%	7/5/2029	311		311		311		0.03	%
WCHG Buyer, Inc. (Handgards, LLC)	(6) (12) (13)	First Lien Term Loan	S + 5.50%	9.75	%	4/10/2031	24,369		24,140		24,613		2.54	%
Total Beverage, Food & Tobacco									140,518		140,607		14.48	%

Capital Equipment
Clean Solutions Buyer, Inc.	(6)	First Lien Term Loan	S + 4.50%	8.86	%	9/9/2030	998		988		988		0.10	%
Engineered Fastener Company, LLC (EFC International)	(12)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,269		3,199		3,266		0.34	%
FirstCall Mechanical Group, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.08%		6/27/2030	19,984		6,361		6,196		0.64	%
FirstCall Mechanical Group, LLC	(12) (13)	First Lien Term Loan	S + 4.75%	9.08%		6/27/2030	9,950		9,857		9,856		1.02	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9)	First Lien Term Loan	S + 6.00%	10.43%		12/15/2026	6,400		6,375		6,123		0.63	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (13)	First Lien Term Loan (Delayed Draw)	S + 6.00%	10.43%		12/15/2026	5,550		5,538		5,310		0.55	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (13)	First Lien Term Loan (Delayed Draw)	S + 6.00%	10.43	%	12/15/2026	2,545		2,545		2,435		0.25	%
Hyperion Materials & Technologies, Inc.	(12) (13) (14)	First Lien Term Loan	S + 4.50%	9.06	%	8/30/2028	2,627		2,625		2,588		0.27	%
Jetson Buyer, Inc. (E-Technologies Group, Inc.)	(6) (13)	First Lien Term Loan	S + 5.50%	9.86	%	4/9/2030	7,277		7,209		7,138		0.74	%
Ovation Holdings, Inc	(6) (13)	First Lien Term Loan	S + 5.00%	9.59	%	2/4/2030	7,954		7,824		7,946		0.82	%
Ovation Holdings, Inc	(12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.59	%	2/4/2030	1,882		1,864		1,880		0.19	%
Ovation Holdings, Inc	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.59	%	2/4/2030	7,901		(78)		(8)		—	%
Ovation Holdings, Inc	(12)	First Lien Term Loan	S + 5.00%	9.50	%	2/4/2030	948		939		947		0.10	%
PT Intermediate Holdings III, LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 3.25%	7.58% (Cash) 1.75% (PIK)		4/9/2030	12,276		12,238		12,352		1.26	%
PT Intermediate Holdings III, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 3.25%	7.58% (Cash) 1.75% (PIK)		4/9/2030	1,106		(1)		7		—	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6) (12)	First Lien Term Loan	S + 5.25%	9.79	%	4/4/2029	9,524		9,389		9,456		0.97	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	10.14	%	4/4/2029	1,831		1,825		1,818		0.19	%
Service Logic Acquisition, Inc.	(6) (9)	First Lien Term Loan	S + 3.50%	8.09	%	10/29/2027	7,919		7,934		7,939		0.82	%
Thermostat Purchaser III, Inc.	(6) (9) (12)	First Lien Term Loan	S + 4.25%	8.58	%	8/31/2028	4,635		4,633		4,635		0.48	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Thermostat Purchaser III, Inc.	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.25%	8.58	%	8/31/2028	$	2,787	$	—	$	—	—	%
Vessco Midco Holdings, LLC	(6) (9) (12) (13)	First Lien Term Loan	S + 4.75%	9.43	%	7/24/2031	13,706		13,570		13,573		1.39	%
Vessco Midco Holdings, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.43	%	7/24/2031	4,569		1,181		1,159		0.12	%
Vessco Midco Holdings, LLC	(9) (11) (12)	Revolving Loan	S + 4.75%	9.43	%	7/24/2031	1,726		(16)		(17)		—	%
Total Capital Equipment									105,999		105,587		10.88	%

Chemicals, Plastics, & Rubber
Boulder Scientific Company, LLC	(6)	First Lien Term Loan	S + 4.75%	9.45	%	12/31/2027	2,040		2,049		1,975		0.20	%
Chroma Color Corporation	(6)	First Lien Term Loan	S + 6.00%	10.63	%	4/23/2029	6,250		6,153		6,205		0.64	%
Chroma Color Corporation	(12)	First Lien Term Loan (Delayed Draw)	S + 6.00%	10.35	%	4/23/2029	1,379		1,370		1,369		0.14	%
Olympic Buyer, Inc. (Ascensus)	(6) (9) (13)	First Lien Term Loan	S + 4.35%	8.71	%	6/30/2028	9,631		9,516		8,132		0.84	%
TJC Spartech Acquisition Corp.	(6) (9) (12) (14)	First Lien Term Loan	S + 4.75%	9.41	%	5/6/2028	14,617		14,563		10,616		1.09	%
Total Chemicals, Plastics, & Rubber									33,651		28,297		2.91	%

Construction & Building
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	2,239		2,187		2,162		0.22	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	4,263		4,213		4,114		0.42	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	5,409		5,344		5,221		0.54	%
Cobalt Service Partners, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.08	%	10/13/2031	3,165		137		123		0.01	%
Cobalt Service Partners, LLC	(6) (9)	First Lien Term Loan	S + 4.75%	9.08	%	10/13/2031	1,835		1,817		1,818		0.19	%
Erie Construction Mid-West, LLC (Erie Construction)	(6) (13)	First Lien Term Loan	S + 4.75%	10.09	%	7/30/2027	9,604		9,554		9,604		0.99	%
Gannett Fleming, Inc.	(9) (12) (13)	First Lien Term Loan	S + 4.75%	9.23	%	8/5/2030	17,824		17,568		17,669		1.83	%
Gannett Fleming, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	9.23	%	8/5/2030	2,131		(30)		(19)		—	%
Heartland Paving Partners, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.08	%	8/9/2030	5,714		(14)		(54)		(0.01	%)
Heartland Paving Partners, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.08	%	8/9/2030	5,714		(14)		(54)		(0.01	%)
Heartland Paving Partners, LLC	(6)	First Lien Term Loan	S + 4.75%	9.08	%	8/9/2030	8,550		8,466		8,469		0.87	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

ICE USA Infrastructure, Inc.	(6) (13)	First Lien Term Loan	S + 5.25%	9.58	%	3/15/2030	$	6,572	$	6,512	$	6,511	0.67	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(6) (9)	First Lien Term Loan	S + 5.75%	10.20	%	12/15/2027	9,220		9,118		9,220		0.95	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(6) (9) (12)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.39	%	12/15/2027	4,870		4,845		4,870		0.50	%
MEI Buyer LLC	(6) (12) (13)	First Lien Term Loan	S + 5.00%	9.36	%	6/29/2029	11,316		11,130		11,319		1.17	%
MEI Buyer LLC	(12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.48	%	6/29/2029	1,810		1,803		1,810		0.19	%
Rose Paving, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	12.50	%	5/7/2030	191		(1)		(2)		—	%
Rose Paving, LLC	(12)	Subordinated Debt	N/A	12.50	%	5/7/2030	2,937		2,900		2,901		0.30	%
Royal Holdco Corporation (RMA Companies)	(6)	First Lien Term Loan	S + 4.75%	9.24	%	12/30/2027	5,229		5,178		5,178		0.53	%
Royal Holdco Corporation (RMA Companies)	(6) (12)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.44	%	12/30/2027	4,582		4,575		4,582		0.47	%
Royal Holdco Corporation (RMA Companies)	(12)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.31	%	12/30/2027	3,132		3,127		3,132		0.32	%
Royal Holdco Corporation (RMA Companies)	(6)	First Lien Term Loan	S + 5.75%	10.44	%	12/30/2027	3,087		3,053		3,087		0.32	%
WSB Engineering Holdings Inc.	(6) (12)	First Lien Term Loan	S + 6.00%	10.51	%	8/31/2029	6,454		6,376		6,432		0.66	%
WSB Engineering Holdings Inc.	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 6.00%	10.59	%	8/31/2029	4,325		3,733		3,743		0.39	%
Total Construction & Building									111,577		111,836		11.52	%

Consumer Goods: Durable
Halo Buyer, Inc.	(6) (14)	First Lien Term Loan	S + 4.50%	8.96	%	6/30/2025	5,607		5,597		5,348		0.55	%
XpressMyself.com LLC (SmartSign)	(6) (13)	First Lien Term Loan	S + 5.50%	10.03	%	9/7/2028	9,775		9,713		9,775		1.01	%
XpressMyself.com LLC (SmartSign)	(6)	First Lien Term Loan	S + 5.75%	10.25	%	9/7/2028	4,974		4,900		4,974		0.51	%
Total Consumer Goods: Durable									20,210		20,097		2.07	%

Consumer Goods: Non-durable
ACP Tara Holdings, Inc.	(6) (9) (13)	First Lien Term Loan	S + 4.50%	8.93	%	9/10/2027	12,475		12,415		12,475		1.29	%
ACP Tara Holdings, Inc.	(6) (9)	First Lien Term Loan	S + 5.75%	10.18	%	9/10/2027	1,706		1,683		1,706		0.18	%
Gloves Buyer, Inc. (PIP)	(6) (13)	First Lien Term Loan	S + 4.00%	8.47	%	12/29/2027	9,052		9,037		9,052		0.93	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(6)	First Lien Term Loan	S + 5.25%	9.94	%	6/30/2028	6,720		6,677		6,721		0.69	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.70	%	6/30/2028	3,118		912		931		0.10	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

MPG Parent Holdings, LLC (Market Performance Group)	(6) (13)	First Lien Term Loan	S + 5.00%	9.33	%	1/8/2030	$	12,525	$	12,413	$	12,650	1.31	%
MPG Parent Holdings, LLC (Market Performance Group)	(12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.59	%	1/8/2030	3,075		3,075		3,106		0.32	%
Ultima Health Holdings, Inc.	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		3/12/2029	1,761		1,737		1,761		0.18	%
Total Consumer Goods: Non-durable									47,949		48,402		5.00	%

Containers, Packaging & Glass
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(6) (13)	First Lien Term Loan	S + 6.75%	11.43	%	10/7/2026	14,284		14,266		13,536		1.40	%
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(6)	First Lien Term Loan	S + 6.75%	11.41	%	10/7/2026	113		112		107		0.01	%
Five Star Lower Holding LLC (Five Star Packaging)	(6) (13) (14)	First Lien Term Loan	S + 4.25%	8.68	%	5/5/2029	7,500		7,421		7,468		0.77	%
good2grow LLC	(6) (13)	First Lien Term Loan	S + 4.50%	9.16	%	12/1/2027	8,699		8,653		8,699		0.90	%
good2grow LLC	(6) (12)	First Lien Term Loan	S + 5.50%	10.16	%	12/1/2027	4,981		4,927		4,981		0.51	%
good2grow LLC	(6) (13)	First Lien Term Loan	S + 4.75%	9.41	%	12/1/2027	14,266		14,149		14,408		1.48	%
Ivex Holdco Inc. (Specialized Packaging Group)	(10)	First Lien Term Loan	S + 5.50%	10.19	%	12/17/2027	4,365		4,336		4,333		0.45	%
Ivex Holdco Inc. (Specialized Packaging Group)	(6) (10) (12)	First Lien Term Loan	S + 6.25%	10.99	%	12/17/2027	6,825		6,777		6,776		0.70	%
Ivex Holdco Inc. (Specialized Packaging Group)	(12)	First Lien Term Loan	S + 5.75%	10.49	%	12/17/2027	3,291		3,271		3,267		0.34	%
Ivex Holdco Inc. (Specialized Packaging Group)	(6) (13)	First Lien Term Loan	S + 5.50%	10.19	%	12/17/2027	10,153		10,119		10,080		1.04	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	11.00	%	1/6/2029	2,510		2,479		2,366		0.24	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	12.50	%	1/6/2029	465		456		460		0.05	%
Online Labels Group, LLC	(13)	First Lien Term Loan	S + 5.25%	9.58	%	12/19/2029	3,295		3,267		3,295		0.34	%
Online Labels Group, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.58	%	12/19/2029	403		—		—		—	%
Online Labels Group, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.58	%	12/19/2029	403		—		—		—	%
Total Containers, Packaging & Glass									80,233		79,776		8.23	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Energy: Electricity
Matador US Buyer, LLC (Insulation Technology Group)	(6) (10) (12) (13)	First Lien Term Loan	S + 5.00%	9.36	%	6/25/2030	$	22,354	$	22,142	$	22,155	2.28	%
Matador US Buyer, LLC (Insulation Technology Group)	(10) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.36	%	6/25/2030	5,912		—		(53)		(0.01	%)
US MetalCo Holdings LLC (MGM Transformer Company)	(6) (12)	First Lien Term Loan	S + 5.50%	10.09	%	10/31/2029	23,376		23,073		23,511		2.43	%
US MetalCo Holdings LLC (MGM Transformer Company)	(12)	First Lien Term Loan (Delayed Draw)	S + 5.50%	9.83	%	10/31/2029	6,356		6,342		6,393		0.66	%
Total Energy: Electricity									51,557		52,006		5.36	%

Environmental Industries
CLS Management Services, LLC (Contract Land Staff)	(6) (13)	First Lien Term Loan	S + 5.00%	9.33	%	3/27/2030	7,507		7,437		7,439		0.77	%
CLS Management Services, LLC (Contract Land Staff)	(6)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.62	%	3/27/2030	3,018		3,011		2,990		0.31	%
CLS Management Services, LLC (Contract Land Staff)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.62	%	3/27/2030	4,999		(12)		(45)		—	%
Impact Parent Corporation (Impact Environmental Group)	(6) (12)	First Lien Term Loan	S + 5.00%	9.43	%	3/23/2029	6,708		6,600		6,661		0.69	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.43	%	3/23/2029	3,134		3,121		3,112		0.32	%
Impact Parent Corporation (Impact Environmental Group)	(12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.43	%	3/23/2029	6,792		6,766		6,745		0.70	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Term Loan	S + 5.00%	9.43	%	3/23/2029	1,718		1,691		1,706		0.18	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Term Loan	S + 5.75%	10.44	%	11/30/2027	4,822		4,799		4,806		0.50	%
NFM & J, L.P. (The Facilities Group)	(6) (9) (13)	First Lien Term Loan	S + 5.75%	10.37	%	11/30/2027	8,950		8,885		8,920		0.92	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.44	%	11/30/2027	4,902		4,902		4,885		0.50	%
NFM & J, L.P. (The Facilities Group)	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.42	%	11/30/2027	5,026		561		544		0.06	%
Nutrition 101 Buyer, LLC (101 Inc)	(6)	First Lien Term Loan	S + 5.25%	9.94	%	8/31/2028	6,581		6,541		6,109		0.63	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6) (12)	First Lien Term Loan	S + 5.50%	9.83	%	7/3/2029	8,464		8,356		8,359		0.86	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.50%	10.48	%	7/3/2029	6,405		4,721		4,654		0.48	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

Orion Group FM Holdings, LLC (Leo Facilities)	(6)	First Lien Term Loan	S + 5.50%	9.75	%	7/3/2029	$	1,589	$	1,573	$	1,569	0.16	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.50%	10.58	%	7/3/2029	13,446		—		(167)		(0.02	%)
SI Solutions, LLC	(6)	First Lien Term Loan	S + 4.75%	9.34	%	8/15/2030	11,872		11,758		11,888		1.22	%
SI Solutions, LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 4.75%	9.34	%	8/15/2030	5,601		(13)		7		—	%
Total Environmental Industries									80,697		80,182		8.28	%

Healthcare & Pharmaceuticals
AB Centers Acquisition Corporation (Action Behavior Centers)	(12) (13)	First Lien Term Loan	S + 5.25%	9.84	%	7/2/2031	15,673		15,520		15,588		1.60	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.80	%	7/2/2031	2,850		189		180		0.02	%
AB Centers Acquisition Corporation (Action Behavior Centers)		First Lien Term Loan	S + 5.25%	9.61	%	7/2/2031	1,477		1,470		1,469		0.15	%
Affinity Hospice Intermediate Holdings, LLC	(6) (12)	First Lien Term Loan	S + 4.75%	9.18	%	12/17/2027	7,792		7,748		6,531		0.67	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	12.75% (PIK)		10/16/2026	3,282		3,266		535		0.06	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/16/2026	1,972		1,965		780		0.08	%
Anne Arundel Dermatology Management, LLC	(12)	First Lien Term Loan	N/A	4.71% (PIK)		1/15/2026	533		533		533		0.05	%
Anne Arundel Dermatology Management, LLC	(11) (12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/16/2026	2,396		2,026		581		0.06	%
Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.53	%	12/20/2031	2,760		(14)		(27)		—	%
Bridges Consumer Healthcare Intermediate LLC	(6) (12)	First Lien Term Loan	S + 5.25%	9.53	%	12/20/2031	5,814		5,756		5,756		0.59	%
Coding Solutions Acquisition, Inc.	(9) (12) (13)	First Lien Term Loan	S + 5.00%	9.25	%	8/7/2031	12,288		12,207		12,193		1.25	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.43	%	8/7/2031	1,872		(4)		(14)		—	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	Revolving Loan	S + 5.00%	9.43	%	8/7/2031	1,246		1,079		1,081		0.11	%
Dermatology Intermediate Holdings III, Inc. (Forefront Dermatology)	(6) (9) (14)	First Lien Term Loan	S + 4.25%	8.84	%	3/30/2029	3,281		3,242		3,174		0.33	%
Eyesouth Eye Care Holdco LLC	(6) (13)	First Lien Term Loan	S + 5.50%	9.96	%	10/5/2029	7,398		7,341		7,264		0.75	%
Eyesouth Eye Care Holdco LLC	(12)	First Lien Term Loan (Delayed Draw)	S + 5.50%	10.00	%	10/5/2029	2,425		2,425		2,381		0.25	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount		Amortized Cost		Fair Value (4)		% of Net Assets (5)

FH DMI Buyer, Inc.	(11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.00%	9.33	%	10/11/2030	$	1,104	$	(3)	$	(10)	—	%
FH DMI Buyer, Inc.	(6)	First Lien Term Loan	S + 5.00%	9.33	%	10/11/2030	1,987		1,968		1,969		0.20	%
Genesee Scientific LLC	(6) (9)	First Lien Term Loan	S + 5.75%	10.10	%	9/30/2027	5,898		5,870		5,176		0.53	%
Genesee Scientific LLC	(9) (12)	First Lien Term Loan (Delayed Draw)	S + 5.75%	10.10	%	9/30/2027	1,544		1,544		1,355		0.14	%
GHR Healthcare, LLC	(6) (9)	First Lien Term Loan	S + 5.25%	9.99	%	12/9/2027	6,336		6,302		6,183		0.64	%
GHR Healthcare, LLC	(6) (9)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.99	%	12/9/2027	1,982		1,982		1,934		0.20	%
GHR Healthcare, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.99	%	12/9/2027	1,946		—		(47)		—	%
GHR Healthcare, LLC	(9) (11) (12)	First Lien Term Loan (Delayed Draw)	S + 5.25%	9.99	%	12/9/2027	648		—		(16)		—	%
GHR Healthcare, LLC	(6) (9)	First Lien Term Loan	S + 5.25%	9.99	%	12/9/2027	4,933		4,870		4,814		0.50	%
GHR Healthcare, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.25%	9.99	%	12/9/2027	8,048		7,979		7,854		0.81	%
GHR Healthcare, LLC	(6) (9) (13)	First Lien Term Loan	S + 5.25%	9.99	%	12/9/2027	3,742		3,710		3,652		0.38	%
Health Management Associates, Inc.	(6) (12)	First Lien Term Loan	S + 6.25%	10.82


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) (7)	Interest Rate	Shares/Units	Amortized Cost		Fair Value (4)		% of Net Assets (5)
Cash Equivalents
BlackRock Liquidity Funds T-Fund - Institutional Class	4.22%	47,219,803	$	47,220	$	47,220	5.13	%
First American Government Obligations Fund - Class Z	4.23%	27,386	27		27		—	%
Total Cash Equivalents			$	47,247	$	47,247	5.13	%
Total Investments and Cash Equivalents			$	2,155,586	$	2,124,817	230.95	%


Counterparty	Footnotes	Hedged Instrument	Company Receives	Company Pays	Maturity Date	Notional Amount		Fair Value		Unrealized Appreciation (Depreciation)		Upfront Payments/Receipts
Derivatives - Interest Rate Swaps
Wells Fargo Bank, N.A.	(13) (14)	2030 Notes	6.65%	S + 2.3015%	3/15/2030	$	300,000	$	8,184	$	8,184	—
Total Derivatives - Interest Rate Swaps								$	8,184	$	8,184	—


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


	March 31, 2025		March 31, 2024
Cash	$	1,931	$	11,373
Cash equivalents	47,247		52,773
Restricted cash	—		50
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows	$	49,178	$	64,196