ncdlc-20250630

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

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


	June 30, 2025		December 31, 2024

Assets	(Unaudited)
Investments
Non-controlled/non-affiliated company investments, at fair value (amortized cost of $2,019,803 and $2,098,575, respectively)	$	1,992,804	$	2,081,379
Cash and cash equivalents	44,008		43,254
Restricted cash	—		50


Interest receivable	17,201		17,971
Derivative asset, at fair value (Note 4)	18,850		—
Receivable for investments sold	943		1,024


Other assets	590		47
Total assets	$	2,074,396	$	2,143,725

Liabilities
Debt (net of $9,713 and $6,668 deferred financing costs, respectively, and net of unamortized discount of $527 and $0, respectively) (See Note 7)	$	1,114,844	$	1,108,261
Payable for investments purchased	99		14,973
Interest payable	20,137		12,967
Incentive fees payable	2,827		—


Management fees payable	5,179		3,956
Collateral due to broker	18,570		—
Distributions payable	22,297		29,468
Directors’ fees payable	156		128
Accounts payable and accrued expenses	2,549		3,652
Total liabilities	$	1,186,658	$	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, 49,548,098 and 53,387,277 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	$	495	$	534
Paid-in-capital in excess of par value	933,268		996,286
Total distributable earnings (loss)	(46,025)		(26,500)
Total net assets	$	887,738	$	970,320

Total liabilities and net assets	$	2,074,396	$	2,143,725

Net asset value per share (See Note 11)	$	17.92	$	18.18


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Investment income:
Non-controlled/non-affiliated company investments:
Interest income	$	50,213	$	53,018	$	101,059	$	102,096
Payment-in-kind interest income	2,264		1,529		4,629		3,521
Dividend income	116		33		116		341
Other income	539		509		914		726
Total investment income	53,132		55,089		106,718		106,684

Expenses:
Interest and debt financing expenses	20,105		18,721		40,748		35,662
Management fees (See Note 6)	5,179		3,590		9,093		6,854
Incentive fees on net investment income (See Note 6)	2,827		3,075		5,080		7,534

Professional fees	1,108		693		1,601		1,403
Directors' fees	156		127		312		255
Administration fees (See Note 6)	490		484		1,076		1,026
Other general and administrative expenses	411		466		753		743
Total expenses before incentive fees waived	30,276		27,156		58,663		53,477

Incentive fees waived (See Note 6)	—		(3,075)		(2,253)		(7,534)
Net expenses after incentive fees waived	30,276		24,081		56,410		45,943


Net investment income	22,856		31,008		50,308		60,741

Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	(10,702)		1,017		(9,599)		(2,608)
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated company investments	3,770		(12,102)		(9,803)		(8,045)
Income tax (provision) benefit	92		282		131		141
Total net change in unrealized appreciation (depreciation):	3,862		(11,820)		(9,672)		(7,904)
Total net realized and unrealized gain (loss) on investments	(6,840)		(10,803)		(19,271)		(10,512)

Net increase (decrease) in net assets resulting from operations	$	16,016	$	20,205	$	31,037	$	50,229

Per share data:
Net investment income per share - basic and diluted	$	0.46	$	0.57	$	0.98	$	1.13
Net increase (decrease) in net assets resulting from operations per share - basic and diluted	$	0.32	$	0.37	$	0.61	$	0.93
Weighted average common shares outstanding - basic and diluted	50,183,714		54,789,044		51,191,926		53,773,698


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Increase (decrease) in net assets resulting from operations:
Net investment income	$	22,856	$	31,008	$	50,308	$	60,741
Net realized gain (loss) on investments	(10,702)		1,017		(9,599)		(2,608)
Total net change in unrealized appreciation (depreciation)	3,862		(11,820)		(9,672)		(7,904)
Net increase (decrease) in net assets resulting from operations	16,016		20,205		31,037		50,229
Shareholder distributions:
Distributions declared from distributable earnings	(22,297)		(30,108)		(50,562)		(54,775)
Net increase (decrease) in net assets resulting from shareholder distributions	(22,297)		(30,108)		(50,562)		(54,775)
Capital share transactions:
Issuance of common shares, net	—		—		—		241,657
Reinvestment of shareholder distributions	—		3,191		—		6,525
Repurchases of common shares	(26,001)		(5,149)		(63,057)		(5,149)
Net increase (decrease) in net assets resulting from capital share transactions	(26,001)		(1,958)		(63,057)		243,033
Total increase (decrease) in net assets	(32,282)		(11,861)		(82,582)		238,487
Net assets, beginning of period	920,020		998,233		970,320		747,885
Net assets, end of period	$	887,738	$	986,372	$	887,738	$	986,372

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


	Six Months Ended June 30,
	2025		2024
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	31,037	$	50,229

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchase of investments	(234,080)		(509,305)
Proceeds from principal repayments and sales of investments	310,552		154,873
Payment-in-kind interest	(4,629)		(3,521)
Amortization of (premium)/accretion of discount, net	(2,670)		(1,870)
Net realized (gain) loss on investments	9,599		2,608
Net change in unrealized (appreciation) depreciation on investments	9,803		8,045
Net fair value adjustment for hedging transaction	(39)		—
Interest receivable payment on swap transaction	(7,983)		—
Amortization of deferred financing costs and original issue discount	2,598		1,960

Changes in operating assets and liabilities:

Interest receivable	770		(625)
Receivable for investments sold	81		1,269

Prepaid expenses	—		(80)
Other assets	(543)		127
Payable for investments purchased	(14,874)		17,790
Interest payable	7,170		11,455
Due to adviser for expense support	—		(632)
Incentive fee payable	2,827		—

Management fees payable	1,223		584
Collateral due to broker	18,570		—
Directors’ fees payable	28		31

Accounts payable and accrued expenses	(1,103)		145
Net cash provided by (used in) operating activities	128,337		(266,917)

Cash flows from financing activities:

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

Shareholder distributions	(57,733)		(40,825)
Repurchases of common shares	(63,057)		(5,149)
Proceeds from debt	849,322		546,250
Repayments on debt	(850,571)		(469,377)
Payments of deferred financing costs	(5,594)		(2,048)
Net cash provided by (used in) financing activities	(127,633)		270,508

Net increase (decrease) in cash and cash equivalents and restricted cash	704		3,591
Cash and cash equivalents and restricted cash, beginning of period	43,304		67,445
Cash and cash equivalents and restricted cash, end of period	$	44,008	$	71,036


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
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt	S + 4.75%	9.08	%	7/25/2030	$	1,559	$	1,542	$	1,545	0.17	%
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.06	%	7/25/2030	893		891		885		0.10	%
PAG Holding Corp. (Precision Aviation Group)	(6)	First Lien Debt	S + 4.75%	9.05	%	12/21/2029	14,814		14,578		14,824		1.67	%
PAG Holding Corp. (Precision Aviation Group)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	12/21/2029	4,911		4,874		4,914		0.55	%
STS Holding, Inc.	(6)	First Lien Debt	S + 4.75%	9.05	%	11/12/2030	3,726		3,693		3,644		0.41	%
Turbine Engine Specialists, Inc.	(10) (12)	Subordinated Debt	S + 9.50%	13.93	%	3/1/2029	2,518		2,472		2,533		0.29	%
Valkyrie Intermediate, LLC	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,880		2,851		2,842		0.32	%
Total Aerospace & Defense									30,901		31,187		3.51	%

Automotive
Covercraft Parent III, Inc.	(12)	Subordinated Debt	N/A	10.00% (Cash) 0.75% (PIK)		2/20/2028	7,562		7,491		4,001		0.45	%
High Bar Brands Operating, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	13.00	%	6/19/2030	596		(6)		(18)		—	%
High Bar Brands Operating, LLC	(12)	Subordinated Debt	N/A	13.00	%	6/19/2030	2,088		2,048		2,025		0.23	%
JEGS Automotive	(12)	First Lien Debt	S + 7.00%	4.30% (Cash) 7.00% (PIK)		12/31/2029	1,292		1,292		1,292		0.15	%
JEGS Automotive	(12)	Revolving Loan	S + 7.00%	4.30% (Cash) 7.00% (PIK)		12/31/2029	215		215		215		0.02	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(6)	First Lien Debt	S + 5.00%	9.32	%	4/18/2028	12,563		12,499		12,477		1.41	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(12)	First Lien Debt	S + 5.00%	9.32	%	4/18/2028	2,413		2,395		2,397		0.27	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 4.75%	9.16	%	3/1/2029	1,141		1,135		1,125		0.13	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 4.75%	9.18	%	3/1/2029	19,933		19,774		19,655		2.21	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 4.75%	9.18	%	3/1/2029	1,699		1,699		1,675		0.19	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 4.75%	9.18	%	3/1/2029	97		97		95		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	$	6,753	$	6,715	$	6,659	0.75	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.29	%	11/1/2029	3,736		2,300		2,238		0.25	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(6) (9)	First Lien Debt	S + 5.00%	9.29	%	11/1/2029	10,969		10,832		10,786		1.21	%
Total Automotive									68,486		64,622		7.28	%

Banking, Finance, Insurance, Real Estate
Ascend Partner Services LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.74	%	8/11/2031	12,642		8,953		9,040		1.02	%
Ascend Partner Services LLC	(6)	First Lien Debt	S + 4.50%	8.75	%	8/11/2031	7,321		7,258		7,341		0.83	%
Big Apple Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.81	%	11/18/2031	4,305		(20)		12		—	%
Big Apple Advisory, LLC	(11) (12)	Revolving Loan	S + 4.50%	8.81	%	11/18/2031	1,740		(16)		5		—	%
Big Apple Advisory, LLC	(12)	First Lien Debt	S + 4.50%	8.81	%	11/18/2031	8,933		8,851		8,957		1.01	%
Cohen Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.78	%	12/31/2031	4,825		194		181		0.02	%
Cohen Advisory, LLC	(6)	First Lien Debt	S + 4.50%	8.78	%	12/31/2031	8,642		8,563		8,579		0.97	%
Illumifin Corporation (Long Term Care Group)	(9) (12)	First Lien Debt	S + 6.00%	10.53	%	9/8/2027	7,309		7,303		6,919		0.78	%
Patriot Growth Insurance Services, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.45	%	10/16/2028	7,064		7,025		6,941		0.78	%
Smith & Howard Advisory LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.29	%	11/26/2030	2,351		1,106		1,089		0.12	%
Smith & Howard Advisory LLC	(6)	First Lien Debt	S + 5.00%	9.29	%	11/26/2030	2,908		2,882		2,881		0.32	%
Vensure Employer Services, Inc.	(9) (12)	First Lien Debt	S + 4.75%	9.08	%	9/27/2031	2,985		2,962		2,980		0.34	%
Vensure Employer Services, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.08	%	9/27/2031	301		(1)		—		—	%
World Insurance Associates, LLC	(9) (12)	First Lien Debt	S + 5.00%	9.30	%	4/3/2030	14,694		14,691		14,645		1.65	%
Total Banking, Finance, Insurance, Real Estate									69,751		69,570		7.84	%

Beverage, Food & Tobacco
AmerCareRoyal, LLC	(6)	First Lien Debt	S + 5.00%	9.33	%	9/10/2030	716		710		696		0.08	%
AmerCareRoyal, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	9/10/2030	165		—		(5)		—	%
AmerCareRoyal, LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	9/10/2030	114		114		111		0.01	%
Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(12)	Subordinated Debt	S + 7.75%	12.01	%	8/30/2027	9,300		9,208		9,261		1.04	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (9)	Subordinated Debt	S + 7.25%	11.69	%	6/8/2029	9,000		8,904		8,854		1.00	%
Boardwalk Buyer LLC (Death Wish Coffee)	(6) (9)	First Lien Debt	S + 4.75%	9.15	%	9/28/2028	9,650		9,613		9,650		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)
Commercial Bakeries Corp.	(6) (10)	First Lien Debt	S + 5.50%	9.80	%	9/25/2029	$	17,022	$	16,772	$	16,689	1.88	%
Commercial Bakeries Corp.	(6) (10)	First Lien Debt	S + 5.50%	9.82	%	9/25/2029	2,014		2,001		1,975		0.22	%
FoodScience, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.67	%	11/14/2031	6,317		1,838		1,742		0.20	%
FoodScience, LLC	(6)	First Lien Debt	S + 4.50%	8.72	%	11/14/2031	5,897		5,844		5,794		0.65	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.86% (Cash) 5.13% (PIK)		4/3/2029	4,183		4,120		4,060		0.46	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.86% (Cash) 5.13% (PIK)		4/3/2029	835		821		811		0.09	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.86% (Cash) 5.13% (PIK)		4/3/2029	988		970		959		0.11	%
Nellson Nutraceutical, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	4/17/2031	72		—		(1)		—	%
Nellson Nutraceutical, LLC	(9) (12)	First Lien Debt	S + 5.75%	10.05	%	4/17/2031	928		918		919		0.10	%
Palmetto Acquisitionco, Inc. (Tech24)	(6)	First Lien Debt	S + 5.75%	10.05	%	9/18/2029	13,114		12,941		12,714		1.42	%
Palmetto Acquisitionco, Inc. (Tech24)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.03	%	9/18/2029	4,804		3,682		3,548		0.40	%
Refresh Buyer, LLC (Sunny Sky Products)	(12)	First Lien Debt	S + 4.75%	9.05	%	12/23/2028	6,987		6,937		6,861		0.77	%
Refresh Buyer, LLC (Sunny Sky Products)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	12/23/2028	1,769		1,769		1,737		0.20	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(12)	First Lien Debt	S +4.75%	9.20	%	7/30/2027	10,437		10,351		10,333		1.16	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(12)	First Lien Debt	S + 4.75%	9.18	%	7/30/2027	9,486		9,459		9,392		1.06	%
Watermill Express, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.79	%	4/30/2031	2,373		2,368		2,373		0.27	%
Watermill Express, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 4.50%	8.79	%	4/30/2031	3,154		3,154		3,154		0.36	%
Watermill Express, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.80	%	4/30/2031	6,295		6,247		6,295		0.71	%
Watermill Express, LLC	(6) (9)	First Lien Debt	S + 4.50%	8.80	%	4/30/2031	3,211		3,200		3,211		0.36	%
Watermill Express, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 4.50%	8.80	%	4/30/2031	310		310		310		0.03	%
Watermill Express, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.83	%	4/30/2031	1,880		(7)		—		—	%
Watermill Express, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.80	%	4/30/2031	2,741		2,715		2,741		0.31	%
WCHG Buyer, Inc. (Handgards, LLC)	(6)	First Lien Debt	S + 5.00%	9.17	%	4/10/2031	24,219		24,015		23,836		2.69	%
Total Beverage, Food & Tobacco									148,974		148,020		16.67	%


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)
Capital Equipment
Clean Solutions Buyer, Inc.	(6)	First Lien Debt	S + 4.50%	8.83	%	9/9/2030	$	983	$	975	$	974	0.11	%
Engineered Fastener Company, LLC (EFC International)	(12)	Subordinated Debt	N/A	11.00%(Cash) 2.50% (PIK)		5/1/2028	3,310		3,251		3,268		0.37	%
FirstCall Mechanical Group, LLC	(6)	First Lien Debt	S + 4.75%	9.05	%	6/27/2030	9,900		9,816		9,812		1.11	%
FirstCall Mechanical Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05%		6/27/2030	19,922		15,504		15,345		1.73	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(9) (12)	First Lien Debt	S + 6.00%	10.40	%	12/15/2026	6,367		6,349		6,176		0.70	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.40	%	12/15/2026	5,522		5,513		5,356		0.60	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.40	%	12/15/2026	2,532		2,532		2,456		0.28	%
Hyperion Materials & Technologies, Inc.	(12) (14)	First Lien Debt	S + 4.50%	9.02	%	8/30/2028	2,613		2,613		2,527		0.28	%
Jetson Buyer, Inc. (E-Technologies Group, Inc.)	(6)	First Lien Debt	S + 5.50%	9.80	%	4/9/2030	7,240		7,180		7,043		0.79	%
Ovation Holdings, Inc	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	2/4/2030	7,874		6,487		6,549		0.74	%
Ovation Holdings, Inc	(6)	First Lien Debt	S + 5.00%	9.28	%	2/4/2030	943		935		942		0.11	%
Ovation Holdings, Inc	(6)	First Lien Debt	S + 5.00%	9.28	%	2/4/2030	7,914		7,801		7,906		0.89	%
Ovation Holdings, Inc	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.28	%	2/4/2030	1,873		1,857		1,871		0.21	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6)	First Lien Debt	S + 5.25%	9.69	%	4/4/2029	9,475		9,358		9,340		1.05	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.70	%	4/4/2029	1,822		1,817		1,796		0.20	%
Vessco Midco Holdings, LLC	(6) (9)	First Lien Debt	S + 4.75%	9.05	%	7/24/2031	13,706		13,583		13,579		1.52	%
Vessco Midco Holdings, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.04	%	7/24/2031	4,569		1,762		1,740		0.20	%
Vessco Midco Holdings, LLC	(9) (11) (12)	Revolving Loan	S + 4.75%	9.08	%	7/24/2031	1,726		(15)		(16)		—	%
Total Capital Equipment									97,318		96,664		10.89	%

Chemicals, Plastics, & Rubber
Boulder Scientific Company, LLC	(6)	First Lien Debt	S + 4.50%	8.79	%	12/31/2027	1,984		1,992		1,963		0.22	%
Chroma Color Corporation	(6)	First Lien Debt	S + 4.25%	8.53	%	4/23/2029	6,219		6,133		6,127		0.69	%
Chroma Color Corporation	(6)	First Lien Debt (Delayed Draw)	S + 4.25%	8.55	%	4/23/2029	1,373		1,364		1,352		0.15	%
New Spartech Holdings LLC	(12)	First Lien Debt	S + 7.00%	11.31	%	3/31/2030	1,445		1,417		1,445		0.16	%
New Spartech Holdings LLC	(9) (12)	First Lien Debt	S + 5.25%	9.56	%	9/30/2030	2,361		2,361		2,361		0.27	%
Olympic Buyer, Inc. (Ascensus)	(9) (12)	First Lien Debt	S + 4.25%	8.68	%	6/30/2028	9,581		9,484		8,323		0.94	%
Total Chemicals, Plastics, & Rubber									22,751		21,571		2.43	%


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)
Construction & Building
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt	N/A	6.00% (Cash) 8.00% (PIK)		4/26/2030	$	2,365	$	2,317	$	2,267	0.26	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	6.00% (Cash) 8.00% (PIK)		4/26/2030	4,501		4,457		4,315		0.49	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	6.00% (Cash) 8.00% (PIK)		4/26/2030	5,711		5,653		5,475		0.62	%
Athlete Buyer, LLC (Allstar Holdings)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	14.00% (PIK)		4/26/2030	2,510		(29)		(104)		(0.01	%)
Cobalt Service Partners, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	10/13/2031	3,164		862		847		0.10	%
Cobalt Service Partners, LLC	(6) (9)	First Lien Debt	S + 4.75%	9.05	%	10/13/2031	1,831		1,814		1,814		0.20	%
Erie Construction Mid-West, LLC (Erie Construction)	(6)	First Lien Debt	S + 4.75%	9.18	%	7/30/2027	9,329		9,293		9,329		1.05	%
Gannett Fleming, Inc.	(9) (12)	First Lien Debt	S + 4.75%	8.96	%	8/5/2030	17,735		17,504		17,607		1.98	%
Gannett Fleming, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	8.96	%	8/5/2030	2,131		(27)		(15)		—	%
Heartland Paving Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.94	%	8/9/2030	5,714		5,081		5,043		0.57	%
Heartland Paving Partners, LLC	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.89	%	8/9/2030	5,709		5,697		5,658		0.64	%
Heartland Paving Partners, LLC	(6)	First Lien Debt	S + 4.75%	8.97	%	8/9/2030	8,507		8,433		8,431		0.95	%
ICE USA Infrastructure, Inc.	(6)	First Lien Debt	S + 5.75%	10.05	%	3/15/2030	6,539		6,485		6,363		0.72	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.28	%	12/15/2027	4,845		4,825		4,825		0.54	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(6) (9)	First Lien Debt	S + 5.00%	9.28	%	12/15/2027	9,173		9,088		9,134		1.03	%
MEI Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	6/29/2029	2,099		—		—		—	%
MEI Buyer LLC	(6)	First Lien Debt	S + 5.00%	9.33	%	6/29/2029	11,259		11,093		11,260		1.27	%
MEI Buyer LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	6/29/2029	1,800		1,795		1,801		0.20	%
Rose Paving, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	12.00	%	5/7/2030	191		(1)		—		—	%
Rose Paving, LLC	(12)	Subordinated Debt	N/A	12.00	%	5/7/2030	2,937		2,906		2,939		0.33	%
Royal Holdco Corporation (RMA Companies)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.83	%	12/30/2030	3,434		372		371		0.04	%
Royal Holdco Corporation (RMA Companies)	(6)	First Lien Debt	S + 4.50%	8.81	%	12/30/2030	16,482		16,389		16,322		1.83	%
SCIC Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S +5.00%	9.30	%	3/28/2031	3,106		(7)		(18)		—	%
SCIC Buyer, Inc.	(6)	First Lien Debt	S + 5.00%	9.30	%	3/28/2031	14,776		14,631		14,690		1.65	%
WSB Engineering Holdings Inc.	(6)	First Lien Debt	S + 4.50%	8.83	%	8/31/2029	6,421		6,352		6,358		0.72	%
WSB Engineering Holdings Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.78	%	8/31/2029	4,306		3,764		3,739		0.42	%
Total Construction & Building									138,747		138,451		15.60	%


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)
Consumer Goods: Durable
DRS Holdings III, Inc.	(6) (9)	First Lien Debt	S + 5.25%	9.58	%	11/1/2028	$	2,991	$	2,991	$	2,977	0.34	%
Momentum Textiles, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		9/25/2029	5,039		4,955		4,938		0.55	%
XpressMyself.com LLC (SmartSign)	(12)	First Lien Debt	S + 5.50%	9.91	%	9/7/2028	9,725		9,673		9,725		1.09	%
XpressMyself.com LLC (SmartSign)	(6)	First Lien Debt	S + 5.75%	10.17	%	9/7/2028	4,949		4,884		4,949		0.56	%
Total Consumer Goods: Durable									22,503		22,589		2.54	%

Consumer Goods: Non-durable
ACP Tara Holdings, Inc.	(6) (9)	First Lien Debt	S + 4.50%	8.90	%	9/10/2027	12,411		12,362		12,411		1.40	%
ACP Tara Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.75%	10.15	%	9/10/2027	1,047		1,035		1,047		0.12	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(6)	First Lien Debt	S + 5.25%	9.63	%	6/30/2028	6,686		6,651		6,686		0.75	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.67	%	6/30/2028	3,113		2,461		2,476		0.28	%
MPG Parent Holdings, LLC (Market Performance Group)	(6)	First Lien Debt	S + 5.00%	9.30	%	1/8/2030	12,461		12,365		12,525		1.41	%
MPG Parent Holdings, LLC (Market Performance Group)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	1/8/2030	3,059		3,059		3,075		0.35	%
Total Consumer Goods: Non-durable									37,933		38,220		4.31	%

Containers, Packaging & Glass
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(12)	First Lien Debt	S + 6.75%	11.13	%	10/7/2026	14,209		14,201		13,838		1.57	%
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)	First Lien Debt	S + 4.50%	8.98	%	12/1/2027	8,699		8,660		8,699		0.98	%
good2grow LLC	(12)	First Lien Debt	S + 5.50%	9.98	%	12/1/2027	4,029		3,992		4,029		0.45	%
good2grow LLC	(6)	First Lien Debt	S + 4.75%	9.23	%	12/1/2027	14,194		14,098		14,194		1.60	%
Ivex Holdco Inc. (Specialized Packaging Group)	(6)	First Lien Debt	S + 5.50%	9.95	%	12/17/2027	10,102		10,075		10,062		1.13	%
Ivex Holdco Inc. (Specialized Packaging Group)	(10) (12)	First Lien Debt	S + 5.50%	9.95	%	12/17/2027	4,343		4,330		4,325		0.49	%
Ivex Holdco Inc. (Specialized Packaging Group)	(10) (12)	First Lien Debt	S + 5.50%	9.95	%	12/17/2027	6,791		6,768		6,764		0.76	%
Ivex Holdco Inc. (Specialized Packaging Group)	(12)	First Lien Debt	S + 5.50%	9.95	%	12/17/2027	3,274		3,265		3,261		0.37	%


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)
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	11.50% (PIK)		1/6/2029	$	2,631	$	2,604	$	2,460	0.28	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	13.00% (PIK)		1/6/2029	490		483		479		0.05	%
Online Labels Group, LLC	(12)	First Lien Debt	S + 5.25%	9.55	%	12/19/2029	3,279		3,253		3,279		0.37	%
Online Labels Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	12/19/2029	403		201		201		0.02	%
Online Labels Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S +5.25%	9.55	%	12/19/2029	403		—		—		—	%
Performance Packaging Buyer, LLC	(6)	First Lien Debt	S + 4.50%	8.63	%	4/15/2031	7,012		6,944		6,947		0.78	%
Total Containers, Packaging & Glass									78,986		78,648		8.86	%

Energy: Electricity
Matador US Buyer, LLC (Insulation Technology Group)	(6) (10)	First Lien Debt	S + 5.00%	9.33	%	6/25/2030	22,242		22,052		22,029		2.48	%
Matador US Buyer, LLC (Insulation Technology Group)	(10) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	6/25/2030	5,884		5,603		5,546		0.62	%
US MetalCo Holdings LLC (MGM Transformer Company)	(6)	First Lien Debt	S + 5.50%	9.79	%	10/31/2029	23,258		22,991		23,490		2.65	%
US MetalCo Holdings LLC (MGM Transformer Company)	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.80	%	10/31/2029	6,324		6,314		6,387		0.72	%
Total Energy: Electricity									56,960		57,452		6.47	%

Environmental Industries
CLS Management Services, LLC (Contract Land Staff)	(12)	First Lien Debt	S + 5.00%	9.30	%	3/27/2030	7,469		7,407		7,406		0.83	%
CLS Management Services, LLC (Contract Land Staff)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	3/27/2030	3,003		2,997		2,977		0.34	%
CLS Management Services, LLC (Contract Land Staff)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	3/27/2030	4,999		(10)		(42)		—	%
Impact Parent Corporation (Impact Environmental Group)	(12)	First Lien Debt	S + 5.25%	9.65	%	3/23/2029	6,674		6,578		6,580		0.74	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	3/23/2029	3,118		3,107		3,074		0.35	%
Impact Parent Corporation (Impact Environmental Group)	(12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	3/23/2029	6,758		6,736		6,663		0.75	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Debt	S + 5.25%	9.65	%	3/23/2029	1,710		1,685		1,686		0.19	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Debt	S + 5.75%	10.09	%	11/30/2027	4,797		4,779		4,704		0.53	%
NFM & J, L.P. (The Facilities Group)	(9) (12)	First Lien Debt	S + 5.75%	10.13	%	11/30/2027	8,899		8,847		8,726		0.98	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.18	%	11/30/2027	4,877		4,877		4,782		0.54	%
NFM & J, L.P. (The Facilities Group)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.18	%	11/30/2027	5,023		558		460		0.05	%
Nutrition 101 Buyer, LLC (101 Inc)	(6)	First Lien Debt	S + 5.25%	9.63	%	8/31/2028	6,547		6,513		6,224		0.70	%


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 Debt	S + 5.50%	9.80	%	7/3/2029	$	8,421	$	8,327	$	8,429	0.95	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.77	%	7/3/2029	6,381		4,700		4,715		0.53	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6)	First Lien Debt	S + 5.50%	9.80	%	7/3/2029	1,581		1,567		1,582		0.18	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.82	%	7/3/2029	13,446		—		12		—	%
SI Solutions, LLC	(6)	First Lien Debt	S + 4.75%	8.88	%	8/15/2030	11,813		11,712		11,767		1.33	%
SI Solutions, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.06	%	8/15/2030	5,601		1,108		1,098		0.12	%
Total Environmental Industries									81,488		80,843		9.11	%

Healthcare & Pharmaceuticals
AB Centers Acquisition Corporation (Action Behavior Centers)	(12)	First Lien Debt	S + 5.00%	9.33	%	7/2/2031	1,474		1,468		1,503		0.17	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(6)	First Lien Debt	S + 5.00%	9.32	%	7/2/2031	15,595		15,458		15,906		1.79	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.32	%	7/2/2031	2,845		1,017		1,080		0.12	%
ACP Maverick Holdings, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	3/18/2031	3,636		(17)		(35)		—	%
ACP Maverick Holdings, Inc.	(6) (9)	First Lien Debt	S + 4.75%	9.05	%	3/18/2031	16,323		16,164		16,166		1.81	%
Affinity Hospice Intermediate Holdings, LLC	(6)	First Lien Debt	S + 4.75%	9.15	%	12/17/2027	7,752		7,716		6,321		0.71	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	12.75% (PIK)		10/15/2028	3,282		3,277		1,237		0.14	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/15/2028	1,972		1,970		1,199		0.14	%
Anne Arundel Dermatology Management, LLC	(12)	First Lien Debt	N/A	4.71% (PIK)		1/15/2028	546		546		546		0.06	%
Anne Arundel Dermatology Management, LLC	(11) (12) (16)	Subordinated Debt (Delayed Draw)	N/A	13.25% (PIK)		4/15/2028	2,396		2,028		1,090		0.12	%
Bluebird PM Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	2/3/2032	1,153		(3)		(9)		—	%
Bluebird PM Buyer, Inc.	(6)	First Lien Debt	S + 4.75%	9.05	%	2/3/2032	8,434		8,358		8,370		0.94	%
Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.49	%	12/22/2031	4,822		(23)		(104)		(0.01	%)
Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.49	%	12/22/2031	2,754		2,190		2,143		0.24	%
Bridges Consumer Healthcare Intermediate LLC	(6)	First Lien Debt	S + 5.25%	9.49	%	12/22/2031	5,785		5,732		5,660		0.64	%
Coding Solutions Acquisition, Inc.	(9) (12)	First Lien Debt	S + 5.00%	9.33	%	8/7/2031	12,664		12,593		12,612		1.42	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	8/7/2031	1,434		(3)		(6)		—	%


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)
Coding Solutions Acquisition, Inc.	(9) (11) (12)	Revolving Loan	S + 5.00%	9.33	%	8/7/2031	$	1,246	$	(11)	$	(5)	—	%
Dermatology Intermediate Holdings III, Inc. (Forefront Dermatology)	(6) (9)	First Lien Debt	S + 4.25%	8.53	%	3/30/2029	3,264		3,230		3,106		0.35	%
Eyesouth Eye Care Holdco LLC	(12)	First Lien Debt	S + 5.50%	9.93	%	10/5/2029	7,360		7,310		7,237		0.82	%
Eyesouth Eye Care Holdco LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.93	%	10/5/2029	2,413		2,413		2,372		0.27	%
FH DMI Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.03	%	10/11/2030	1,104		486		479		0.05	%
FH DMI Buyer, Inc.	(6)	First Lien Debt	S + 4.75%	8.97	%	10/11/2030	1,982		1,965		1,964		0.22	%
Genesee Scientific LLC	(6) (9)	First Lien Debt	S + 5.75%	10.15	%	9/30/2027	5,867		5,845		5,199		0.59	%
Genesee Scientific LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.15	%	9/30/2027	1,536		1,536		1,361		0.15	%
GHR Healthcare, LLC	(6) (9)	First Lien Debt	S + 5.25%	9.63	%	12/9/2027	6,303		6,276		5,991		0.67	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.63	%	12/9/2027	1,972		1,972		1,874		0.21	%
GHR Healthcare, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.63	%	12/9/2027	1,946		—		(96)		(0.01	%)
GHR Healthcare, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.63	%	12/9/2027	648		—		(32)		—	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt	S + 5.25%	9.63	%	12/9/2027	4,907		4,855		4,664		0.53	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt	S + 5.25%	9.63	%	12/9/2027	8,008		7,951		7,611		0.86	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt	S + 5.25%	9.63	%	12/9/2027	3,723		3,696		3,539		0.40	%
Health Management Associates, Inc.	(6)	First Lien Debt	S + 6.25%	10.57	%	3/30/2029	8,264		8,149		8,207		0.92	%
Health Management Associates, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 6.25%	10.56	%	3/30/2029	1,072		1,053		1,065		0.12	%
Healthspan Buyer, LLC (Thorne HealthTech)	(6)	First Lien Debt	S + 5.25%	9.55	%	10/16/2030	10,492		10,409		10,337		1.16	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	7.50% (Cash) 7.00% (PIK)		9/10/2028	10,365		10,365		10,280		1.16	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	7.50% (Cash) 7.00% (PIK)		9/10/2028	3,763		3,763		3,732		0.42	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		9/10/2028	2,073		2,058		2,056		0.23	%
HemaSource, Inc.	(12)	Subordinated Debt	N/A	13.50	%	2/28/2030	5,292		5,179		5,227		0.59	%
HMN Acquirer Corp.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.80	%	11/5/2031	2,426		(5)		(38)		—	%
HMN Acquirer Corp.	(6)	First Lien Debt	S + 4.50%	8.80	%	11/5/2031	6,565		6,506		6,463		0.73	%
Impact Advisors, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	3/19/2032	7,143		(34)		(70)		(0.01	%)
Impact Advisors, LLC	(6)	First Lien Debt	S + 4.75%	9.05	%	3/19/2032	12,825		12,700		12,700		1.43	%
Infucare Rx Inc	(6)	First Lien Debt	S + 4.25%	8.52	%	1/4/2028	2,712		2,701		2,712		0.31	%
JKC Buyer, Inc. (J. Knipper and Company Inc)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	2/13/2032	2,102		2,092		2,091		0.24	%
JKC Buyer, Inc. (J. Knipper and Company Inc)	(6)	First Lien Debt	S + 5.00%	9.31	%	2/13/2032	6,073		6,022		6,040		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)
Lavie Group, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.42	%	10/10/2029	$	736	$	(3)	$	(7)	—	%
Lavie Group, Inc.	(9) (12)	First Lien Debt	S + 5.25%	9.42	%	10/12/2029	2,755		2,729		2,728		0.31	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	1,920		1,891		1,817		0.20	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 2.25% (PIK)		2/7/2030	512		508		484		0.05	%
Midwest Eye Services, LLC	(6)	First Lien Debt	S + 4.50%	8.95	%	8/20/2027	8,883		8,852		8,805		0.99	%
Promptcare Infusion Buyer, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.38	%	9/1/2027	2,860		1,423		1,365		0.15	%
Promptcare Infusion Buyer, Inc.	(6) (9)	First Lien Debt	S + 6.00%	10.39	%	9/1/2027	8,078		8,057		7,915		0.89	%
Promptcare Infusion Buyer, Inc.	(6) (9)	First Lien Debt (Delayed Draw)	S + 6.00%	10.38	%	9/1/2027	1,258		1,257		1,233		0.14	%
QHR Health, LLC	(6)	First Lien Debt	S + 5.25%	9.68	%	5/28/2027	7,562		7,529		7,562		0.85	%
QHR Health, LLC	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.68	%	5/28/2027	3,199		3,196		3,199		0.36	%
QHR Health, LLC	(12)	First Lien Debt	S + 5.25%	9.68	%	5/28/2027	3,199		3,171		3,199		0.36	%
Real Chemistry Intermediate III, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.80	%	4/12/2032	3,288		(8)		(14)		—	%
Real Chemistry Intermediate III, Inc.	(11) (12)	Revolving Loan	S + 4.50%	8.80	%	4/12/2032	1,780		(9)		(8)		—	%
Real Chemistry Intermediate III, Inc.	(6)	First Lien Debt	S + 4.50%	8.80	%	4/12/2032	7,397		7,362		7,366		0.83	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6)	First Lien Debt	S + 6.25%	10.68	%	9/19/2028	7,833		7,687		7,751		0.87	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6)	First Lien Debt	S + 6.25%	10.45	%	9/19/2028	9,353		9,222		9,255		1.04	%
Smile Brands Inc.	(12)	Subordinated Debt	S + 8.50%	6.40% (Cash) 6.50% (PIK)		4/12/2028	12,069		12,049		9,753		1.10	%
Swoop Intermediate III, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.83	%	4/12/2032	4,928		(12)		(21)		—	%
Swoop Intermediate III, Inc.	(11) (12)	Revolving Loan	S + 4.50%	8.83	%	4/12/2032	1,776		(9)		(8)		—	%
Swoop Intermediate III, Inc.	(12)	First Lien Debt	S + 4.50%	8.83	%	4/12/2032	6,981		6,947		6,951		0.78	%
TBRS, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.08	%	11/22/2031	2,209		849		812		0.09	%
TBRS, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	9.08	%	11/22/2030	1,406		74		57		0.01	%
TBRS, Inc.	(6) (9)	First Lien Debt	S + 4.75%	9.08	%	11/22/2031	8,061		7,988		7,888		0.89	%
Tidi Legacy Products, Inc.	(6) (9)	First Lien Debt	S + 4.50%	8.83	%	12/19/2029	15,290		15,173		15,443		1.74	%
Tidi Legacy Products, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.83	%	12/19/2029	4,085		—		41		—	%
VMG Holdings LLC (VMG Health)	(6)	First Lien Debt	S + 5.00%	9.33	%	4/16/2030	1,136		1,126		1,126		0.13	%
VMG Holdings LLC (VMG Health)	(6)	First Lien Debt	S + 5.00%	9.33	%	4/16/2030	15,812		15,681		15,675		1.77	%
Wellspring Pharmaceutical Corporation	(6)	First Lien Debt	S + 5.00%	9.27	%	8/22/2028	7,275		7,240		7,285		0.82	%
Wellspring Pharmaceutical Corporation	(6)	First Lien Debt	S + 5.00%	9.27	%	8/22/2028	3,222		3,185		3,226		0.36	%


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	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.27	%	8/22/2028	$	1,547	$	1,542	$	1,549	0.17	%
Wellspring Pharmaceutical Corporation	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.27	%	8/22/2028	2,548		2,542		2,551		0.29	%
Wellspring Pharmaceutical Corporation	(12)	First Lien Debt	S + 5.00%	9.27	%	8/22/2028	1,227		1,212		1,229		0.14	%
YI, LLC (Young Innovations)	(6) (9)	First Lien Debt	S + 5.75%	10.06	%	12/3/2029	16,303		16,180		15,958		1.80	%
Total Healthcare & Pharmaceuticals									351,584		341,910		38.51	%

High Tech Industries
Alta Buyer, LLC (GoEngineer)	(6) (9)	First Lien Debt	S + 5.00%	9.30	%	12/21/2027	11,395		11,374		11,395		1.28	%
Alta Buyer, LLC (GoEngineer)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	12/21/2027	3,104		3,090		3,104		0.35	%
Alta Buyer, LLC (GoEngineer)	(9) (12)	First Lien Debt	S + 5.00%	9.30	%	12/21/2027	5,311		5,272		5,311		0.60	%
Eliassen Group, LLC	(6) (9)	First Lien Debt	S + 5.75%	10.05	%	4/14/2028	11,886		11,825		11,794		1.32	%
Eliassen Group, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.08	%	4/14/2028	856		855		849		0.10	%
Emburse, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	8.55	%	5/28/2032	13		—		—		—	%
Emburse, Inc.	(9) (11) (12)	Revolving Loan	S + 4.25%	8.55	%	5/28/2032	14		—		—		—	%
Emburse, Inc.	(9) (12)	First Lien Debt	S + 4.25%	8.55	%	5/28/2032	73		73		73		0.01	%
Exterro, Inc.	(6)	First Lien Debt	S + 5.50%	9.97	%	6/1/2027	9,435		9,402		9,529		1.07	%
Infobase Acquisition, Inc.	(6)	First Lien Debt	S + 5.50%	9.92	%	6/14/2028	4,265		4,241		4,239		0.48	%
North Haven CS Acquisition, Inc.	(6)	First Lien Debt	S + 5.25%	9.68	%	1/22/2027	5,682		5,682		5,682		0.64	%
North Haven CS Acquisition, Inc.	(12)	First Lien Debt	S + 5.25%	9.68	%	1/22/2027	22,075		21,959		22,075		2.48	%
Prosci, Inc.	(6)	First Lien Debt	S + 4.25%	8.68	%	10/21/2026	4,733		4,720		4,733		0.53	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.20	%	4/15/2027	740		739		704		0.08	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.20	%	4/15/2027	1,073		1,070		1,021		0.12	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.18	%	4/15/2027	238		238		226		0.03	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9)	First Lien Debt (Delayed Draw)	S + 5.75%	10.20	%	4/15/2027	3,438		3,434		3,272		0.37	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (12)	First Lien Debt	S + 4.50%	8.80	%	9/30/2031	682		676		675		0.08	%
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)	First Lien Debt	S + 6.00%	10.43	%	11/5/2026	8,677		8,641		7,764		0.87	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		6/30/2028	1,907		1,888		1,806		0.20	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.50% (PIK)		6/30/2028	821		812		788		0.09	%


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)
Solve Industrial Motion Group LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 2.00% (PIK)		6/30/2028	$	2,184	$	2,184	$	2,069	0.23	%
VALIDITY INC	(12)	First Lien Debt	S + 5.25%	9.58	%	4/7/2032	100		99		99		0.01	%
Venture Buyer, LLC (Velosio)	(6) (9)	First Lien Debt	S + 5.25%	9.53	%	3/1/2030	6,170		6,121		6,170		0.70	%
Venture Buyer, LLC (Velosio)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.58	%	3/1/2030	1,284		224		224		0.03	%
Total High Tech Industries									104,639		103,621		11.67	%

Hotel, Game & Leisure
Davidson Hotel Company LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	10/31/2031	1,052		40		37		—	%
Davidson Hotel Company LLC	(6)	First Lien Debt	S + 5.00%	9.33	%	10/31/2031	3,156		3,128		3,142		0.36	%
Total Hotel, Game & Leisure									3,168		3,179		0.36	%

Media: Advertising, Printing & Publishing
Calienger Acquisition, L.L.C. (Wpromote, LLC)	(12)	First Lien Debt	S + 6.00%	10.42	%	10/23/2028	4,313		4,259		4,287		0.48	%
Tinuiti Inc.	(9) (12)	First Lien Debt	S + 5.25%	9.65	%	12/10/2026	2,902		2,892		2,854		0.32	%
Tinuiti Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	12/10/2026	1,897		1,897		1,866		0.21	%
Tinuiti Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.65	%	12/10/2026	9,713		9,713		9,551		1.08	%
Total Media: Advertising, Printing & Publishing									18,761		18,558		2.09	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,753		3,712		3,599		0.41	%
Corporate Visions, Inc. (CVI Parent, Inc.)	(12)	First Lien Debt	S + 1.00%	5.40% (Cash) 4.00% (PIK)		8/12/2027	2,631		2,614		1,950		0.22	%
Corporate Visions, Inc. (CVI Parent, Inc.)	(12)	First Lien Debt	S + 1.00%	5.40% (Cash) 4.00% (PIK)		8/12/2027	2,998		2,987		2,222		0.25	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt	S + 6.00%	10.33	%	12/9/2026	8,262		8,254		7,236		0.81	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.33	%	12/9/2026	2,940		2,933		2,575		0.29	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.33	%	12/9/2026	448		448		393		0.04	%
Total Media: Diversified & Production									20,948		17,975		2.02	%


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)
Services: Business
ALKU Intermediate Holdings, LLC	(12)	First Lien Debt	S + 6.25%	10.47	%	5/23/2029	$	4,451	$	4,387	$	4,433	0.50	%
All4 Buyer, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.78	%	1/23/2032	2,385		(11)		(23)		—	%
All4 Buyer, LLC	(6)	First Lien Debt	S + 4.50%	8.78	%	1/23/2032	2,855		2,828		2,827		0.32	%
Archer Acquisition, LLC (ARMstrong)	(6)	First Lien Debt	S + 5.00%	9.40	%	10/8/2029	11,275		11,146		11,176		1.26	%
Archer Acquisition, LLC (ARMstrong)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.39	%	10/8/2029	1,095		390		386		0.04	%
Bounteous, Inc.	(6)	First Lien Debt	S + 4.75%	9.18	%	8/2/2027	5,265		5,245		5,254		0.59	%
Bounteous, Inc.	(12)	First Lien Debt	S + 4.75%	9.18	%	8/2/2027	2,155		2,146		2,151		0.24	%
Bounteous, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.18	%	8/2/2027	2,725		2,715		2,719		0.31	%
Bounteous, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.18	%	8/2/2027	3,523		3,523		3,515		0.40	%
Bullhorn, Inc.	(6) (9)	First Lien Debt	S + 5.00%	9.33	%	10/1/2029	13,671		13,628		13,517		1.52	%
Businessolver.com, Inc.	(6) (9)	First Lien Debt	S + 5.50%	9.90	%	12/1/2027	7,623		7,589		7,623		0.86	%
Businessolver.com, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.90	%	12/1/2027	1,143		935		937		0.11	%
Caldwell & Gregory LLC	(12)	Subordinated Debt	S + 9.25%	13.55% (PIK)		3/31/2031	1,107		1,089		1,122		0.13	%
CDL Marketing Group, LLC (Career Now)	(12)	Subordinated Debt	N/A	13.00% (PIK)		3/30/2027	3,990		3,966		1,327		0.15	%
Cornerstone Advisors of Arizona, LLC	(9) (12)	First Lien Debt	S + 4.75%	9.05	%	5/13/2032	100		100		100		0.01	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(12)	First Lien Debt	S + 5.00%	9.46	%	9/15/2028	7,377		7,290		7,298		0.82	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.47	%	9/15/2028	2,348		2,335		2,323		0.26	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.41	%	9/15/2028	1,547		1,543		1,531		0.17	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6)	First Lien Debt	S + 5.00%	9.45	%	9/15/2028	3,413		3,367		3,377		0.38	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.42	%	9/15/2028	5,118		4,299		4,263		0.48	%
Element 78 Partners, LLC (E78)	(12)	First Lien Debt	S + 5.50%	9.93	%	12/1/2027	5,514		5,490		5,514		0.62	%
Element 78 Partners, LLC (E78)	(12)	First Lien Debt	S + 5.50%	9.93	%	12/1/2027	1,416		1,409		1,416		0.16	%
Element 78 Partners, LLC (E78)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.93	%	12/1/2027	15,233		—		—		—	%
Element 78 Partners, LLC (E78)	(6)	First Lien Debt (Delayed Draw)	S + 5.50%	9.93	%	12/1/2027	4,146		4,128		4,146		0.47	%
Element 78 Partners, LLC (E78)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.93	%	12/1/2027	3,508		3,223		3,223		0.36	%
Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC)	(6) (9)	First Lien Debt	S + 6.25%	10.67	%	12/23/2026	9,650		9,599		9,650		1.09	%
Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.17	%	12/23/2026	6,689		6,606		6,689		0.75	%


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)
Esquire Deposition Solutions, LLC	(12)	Subordinated Debt	N/A	14.00% (PIK)		6/30/2029	$	1,927	$	1,891	$	1,893	0.21	%
Gabriel Partners, LLC	(12)	First Lien Debt	S + 1.80%	6.28% (Cash) 4.45% (PIK)		9/21/2026	667		666		647		0.07	%
Gabriel Partners, LLC	(6) (9)	First Lien Debt	S + 1.80%	6.28% (Cash) 4.45% (PIK)		9/21/2026	9,150		9,133		8,866		1.00	%
Gabriel Partners, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 1.80%	6.28% (Cash) 4.45% (PIK)		9/21/2026	1,524		1,524		1,477		0.17	%
Gabriel Partners, LLC	(9) (12)	First Lien Debt	S + 1.80%	6.28% (Cash) 4.45% (PIK)		9/21/2026	3,778		3,769		3,660		0.41	%
Integrated Power Services Holdings, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.94	%	11/22/2028	2,505		(5)		—		—	%
Integrated Power Services Holdings, Inc.	(12)	First Lien Debt	S + 4.50%	8.94	%	11/22/2028	4,621		4,619		4,621		0.52	%
KENG Acquisition, Inc. (Enagage PEO)	(6) (9)	First Lien Debt	S + 5.00%	9.28	%	8/1/2029	9,522		9,412		9,442		1.06	%
KENG Acquisition, Inc. (Enagage PEO)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.28	%	8/1/2029	9,256		5,741		5,678		0.64	%
KENG Acquisition, Inc. (Enagage PEO)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.28	%	8/1/2029	1,074		(2)		(9)		—	%
KRIV Acquisition, Inc. (Riveron)	(6)	First Lien Debt	S + 5.75%	10.05	%	7/6/2029	10,602		10,383		10,553		1.19	%
KRIV Acquisition, Inc. (Riveron)	(12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.05	%	7/6/2029	1,590		1,577		1,583		0.18	%
LRN Corporation (Lion Merger Sub, Inc.)	(9) (12)	First Lien Debt	S + 6.50%	10.90	%	12/17/2025	7,208		7,200		7,208		0.81	%
LRN Corporation (Lion Merger Sub, Inc.)	(9) (12)	First Lien Debt	S + 6.50%	10.90	%	12/17/2025	7,185		7,169		7,185		0.81	%
Olympus US Bidco LLC (Phaidon International)	(10) (12)	First Lien Debt	S + 5.50%	9.93	%	8/22/2029	13,260		13,178		12,923		1.46	%
Output Services Group, Inc.	(10) (12)	First Lien Debt	S + 8.00%	12.71	%	5/30/2028	155		155		155		0.02	%
Output Services Group, Inc.	(12)	First Lien Debt	S + 6.25%	10.96	%	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		13,287		12,298		1.39	%
RailPros Parent, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.83	%	5/24/2032	21		—		—		—	%
RailPros Parent, LLC	(9) (11) (12)	Revolving Loan	S + 4.50%	8.83	%	5/24/2032	11		—		—		—	%
RailPros Parent, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.83	%	5/24/2032	68		68		68		0.01	%
Redwood Services Group, LLC (Evergreen Services Group)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.56	%	6/15/2029	2,958		988		977		0.11	%
Redwood Services Group, LLC (Evergreen Services Group)	(6) (9)	First Lien Debt	S + 5.25%	9.55	%	6/15/2029	14,099		13,925		13,982		1.58	%
Redwood Services Group, LLC (Evergreen Services Group)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.55	%	6/15/2029	2,820		2,802		2,796		0.31	%
Safety Infrastructure Services Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	7/21/2028	3,967		704		634		0.07	%
Safety Infrastructure Services Intermediate LLC	(6)	First Lien Debt	S + 5.00%	9.30	%	7/21/2028	7,068		7,012		6,928		0.78	%
Sagebrush Buyer, LLC (Province)	(6)	First Lien Debt	S + 5.00%	9.33	%	7/1/2030	4,673		4,633		4,631		0.52	%
Scaled Agile, Inc.	(9) (12)	First Lien Debt	S + 2.25%	6.65% (Cash) 3.75% (PIK)		12/15/2028	7,963		7,919		6,669		0.75	%


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)
Scaled Agile, Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 2.25%	6.65% (Cash) 3.75% (PIK)		12/15/2028	$	388	$	388	$	325	0.04	%
Tau Buyer, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	2/2/2032	3,427		892		867		0.10	%
Tau Buyer, LLC	(9) (11) (12)	Revolving Loan	S + 4.75%	9.05	%	2/2/2032	1,720		121		117		0.01	%
Tau Buyer, LLC	(6) (9)	First Lien Debt	S + 4.75%	9.05	%	2/2/2032	9,853		9,762		9,735		1.10	%
Thompson Safety LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.30	%	6/25/2032	91		—		—		—	%
Thompson Safety LLC	(11) (12)	Revolving Loan	S + 5.00%	9.30	%	6/25/2032	9		—		—		—	%
Transit Buyer, LLC (Propark Mobility)	(6)	First Lien Debt	S + 5.00%	9.33	%	1/31/2029	6,720		6,636		6,720		0.76	%
Transit Buyer, LLC (Propark Mobility)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	1/31/2029	3,093		3,055		3,093		0.35	%
Transit Buyer, LLC (Propark Mobility)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	1/31/2029	10,122		10,104		10,122		1.14	%
Trilon Group, LLC	(6)	First Lien Debt	S + 5.50%	9.76	%	5/27/2029	27,616		27,482		27,422		3.09	%
Trilon Group, LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.79	%	5/29/2029	1,865		1,858		1,852		0.21	%
TSS Buyer, LLC (Technical Safety Services)	(6)	First Lien Debt	S + 5.50%	9.93	%	6/22/2029	6,669		6,626		6,669		0.75	%
TSS Buyer, LLC (Technical Safety Services)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.93	%	6/22/2029	6,334		5,208		5,264		0.59	%
TSS Buyer, LLC (Technical Safety Services)	(12)	First Lien Debt	S + 5.50%	9.93	%	6/22/2029	1,861		1,841		1,861		0.21	%
Victors CCC Buyer LLC (CrossCountry Consulting)	(6) (9)	First Lien Debt	S + 4.75%	9.07	%	6/1/2029	8,050		7,947		8,050		0.91	%
Victors CCC Buyer LLC (CrossCountry Consulting)	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.07	%	6/1/2029	826		821		826		0.09	%
VRC Companies, LLC (Vital Records Control)	(6) (9)	First Lien Debt	S + 5.25%	9.53	%	6/29/2027	4,512		4,491		4,502		0.51	%
VRC Companies, LLC (Vital Records Control)	(6) (9)	First Lien Debt	S + 5.50%	9.82	%	6/29/2027	329		327		329		0.04	%
Total Services: Business									325,109		319,950		36.06	%

Services: Consumer
360 Holdco, Inc. (360 Training)	(6)	First Lien Debt	S + 5.00%	9.33	%	8/2/2028	3,420		3,395		3,420		0.39	%
360 Holdco, Inc. (360 Training)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	8/2/2028	3,093		—		—		—	%
ADPD Holdings LLC (NearU)	(9) (12)	First Lien Debt	S + 6.00%	10.52	%	8/16/2028	9,749		9,728		9,300		1.05	%
ADPD Holdings LLC (NearU)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.58	%	8/16/2028	101		—		(5)		—	%
ADPD Holdings LLC (NearU)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	10.58	%	8/16/2028	1,427		—		(66)		(0.01	%)
AMS Parent, LLC (All My Sons)	(6)	First Lien Debt	S + 4.75%	9.19	%	10/25/2028	5,176		5,149		5,157		0.58	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.31	%	10/24/2030	154		153		153		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)
Apex Service Partners, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	10/24/2030	155		154		154		0.02	%
Apex Service Partners, LLC	(9) (11) (12)	Revolving Loan	S + 5.00%	9.33	%	10/24/2029	55		—		—		—	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt	S + 5.00%	9.33	%	10/24/2030	630		625		627		0.07	%
Columbia Home Services LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	12.00	%	11/27/2031	22		—		—		—	%
Columbia Home Services LLC	(12)	Subordinated Debt	N/A	12.00	%	11/27/2031	78		76		76		0.01	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	890		872		850		0.10	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(12)	Subordinated Debt (Delayed Draw)	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	680		673		649		0.07	%
Excel Fitness Holdings, Inc.	(6)	First Lien Debt	S + 5.25%	9.55	%	4/27/2029	9,800		9,728		9,800		1.10	%
Excel Fitness Holdings, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.80	%	4/27/2029	2,369		458		472		0.05	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(12)	First Lien Debt	S + 5.25%	9.70	%	1/9/2029	10,008		9,878		9,968		1.12	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.70	%	1/9/2029	4,665		4,652		4,646		0.52	%
Legacy Service Partners, LLC	(12)	First Lien Debt	S + 5.25%	9.70	%	1/9/2029	2,919		2,895		2,907		0.33	%
Liberty Buyer, Inc. (Liberty Group)	(9) (12)	First Lien Debt	S + 5.75%	10.07	%	6/15/2028	3,869		3,849		3,746		0.42	%
Liberty Buyer, Inc. (Liberty Group)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.09	%	6/15/2028	$	291	$	291	$	282	0.03	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		3/18/2029	727		718		624		0.07	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	2,676		2,646		2,299		0.26	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	231		231		199		0.02	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	5,002		591		531		0.06	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	4,419		4,419		4,365		0.49	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 5.00% (PIK)		5/17/2029	6,374		6,374		6,297		0.71	%
North Haven Spartan US Holdco LLC	(6)	First Lien Debt	S + 5.75%	10.06	%	6/8/2026	2,463		2,463		2,463		0.28	%
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	(12)	First Lien Debt (Delayed Draw)	S + 5.75%	10.06	%	6/8/2026	1,626		1,622		1,626		0.18	%
Perennial Services Group, LLC	(6)	First Lien Debt	S + 5.50%	9.93	%	9/7/2029	6,631		6,561		6,698		0.75	%
Perennial Services Group, LLC	(6)	First Lien Debt (Delayed Draw)	S + 5.50%	9.93	%	9/7/2029	5,935		5,930		5,994		0.68	%
Total Services: Consumer									84,345		83,446		9.39	%

Sovereign & Public Finance


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)
Renaissance Buyer, LLC (LMI Consulting, LLC)	(6)	First Lien Debt	S + 5.25%	9.57	%	7/18/2028	12,071	11,985	12,192	1.37	%
Total Sovereign & Public Finance								11,985	12,192	1.37	%

Telecommunications
BCM One, Inc.	(6)	First Lien Debt	S + 4.50%	8.79	%	11/17/2027	5,681	5,681	5,681	0.64	%
BCM One, Inc.	(6)	First Lien Debt (Delayed Draw)	S + 4.50%	8.84	%	11/17/2027	1,799	1,799	1,799	0.20	%
MBS Holdings, Inc.	(9) (12)	First Lien Debt	S + 5.00%	9.28	%	4/16/2027	1,043	1,033	1,043	0.12	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.00%	9.35	%	4/16/2027	1,801	1,784	1,801	0.20	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.00%	9.35	%	4/16/2027	9,899	9,872	9,899	1.12	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.00%	9.35	%	4/16/2027	1,295	1,282	1,295	0.15	%
Mobile Communications America, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.28	%	10/16/2029	1,654	—	(4)	—	%
Mobile Communications America, Inc.	(6)	First Lien Debt	S + 5.00%	9.28	%	10/16/2029	18,228	18,043	18,184	2.05	%


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.	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.28	%	10/16/2029	$	4,295	$	4,272	$	4,285	0.48	%
Sapphire Telecom, Inc.	(6)	First Lien Debt	S + 5.00%	9.30	%	6/27/2029	18,943		18,789		18,945		2.13	%
Tyto Athene, LLC	(6)	First Lien Debt	S + 4.75%	9.19	%	4/3/2028	7,125		7,091		6,842		0.77	%
Total Telecommunications									69,646		69,770		7.86	%

Transportation: Cargo
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.19	%	8/3/2026	260		260		231		0.03	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(6) (9)	First Lien Debt	S + 6.75%	11.19	%	8/3/2026	903		901		802		0.09	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.19	%	8/3/2026	183		182		162		0.02	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.19	%	8/3/2026	4,408		4,407		3,914		0.44	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12)	First Lien Debt	S + 6.75%	11.19	%	8/3/2026	1,372		1,372		1,218		0.14	%
Armstrong Midco, LLC (Armstrong Transport Group)	(12)	Subordinated Debt	N/A	17.00% (PIK)		6/30/2027	1,204		1,190		1,177		0.13	%
Armstrong Transport Group, LLC	(12)	Subordinated Debt	N/A	7.00% (Cash) 7.00% (PIK)		6/30/2027	7,888		7,787		7,711		0.87	%
FSK Pallet Holding Corp. (Kamps Pallets)	(12)	First Lien Debt	S + 6.00%	10.43	%	12/23/2026	9,322		9,251		9,127		1.02	%
Kenco PPC Buyer LLC	(6)	First Lien Debt	S + 4.75%	9.00	%	11/15/2029	21,771		21,636		21,567		2.42	%
Kenco PPC Buyer LLC	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.98	%	11/15/2029	3,599		3,578		3,565		0.40	%
Kenco PPC Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	11/15/2029	4,111		(33)		(39)		—	%
R1 Holdings, LLC (RoadOne)	(12)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	5,069		4,974		4,932		0.56	%
SEKO Global Logistics Network, LLC	(12)	First Lien Debt	S + 8.00%	12.32	%	11/27/2029	435		428		435		0.05	%
SEKO Global Logistics Network, LLC	(12)	First Lien Debt	S + 7.00%	6.32% (Cash) 5.00% (PIK)		5/27/2030	1,651		1,651		1,651		0.19	%
TI Acquisition NC, LLC	(6)	First Lien Debt	S + 4.75%	9.05	%	3/19/2027	2,737		2,700		2,737		0.31	%
Total Transportation: Cargo									60,284		59,190		6.67	%


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)
Transportation: Consumer
American Student Transportation Partners, Inc.	(12)	Subordinated Debt	N/A	13.50	%	9/11/2029	$	2,264	$	2,221	$	2,252	0.25	%
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)	(6) (9)	First Lien Debt	S + 5.50%	9.83	%	2/14/2031	10,507		10,423		10,415		1.17	%
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.83	%	2/14/2031	3,040		—		(26)		—	%
Total Transportation: Consumer									12,644		12,641		1.42	%

Utilities: Electric
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (12)	First Lien Debt	S + 5.00%	9.33	%	8/27/2031	10,408		10,315		10,435		1.18	%
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	9.33	%	8/27/2031	2,615		(11)		7		—	%
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (11) (12)	Revolving Loan	S + 5.00%	9.33	%	8/27/2031	1,925		(17)		5		—	%
DMC Holdco, LLC (DMC Power)	(6)	First Lien Debt	S + 4.75%	9.07	%	7/13/2029	4,925		4,871		4,951		0.56	%
DMC Holdco, LLC (DMC Power)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.07	%	7/13/2029	1,671		(3)		9		—	%
Low Voltage Holdings Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	4/28/2032	735		—		(2)		—	%
Low Voltage Holdings Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	9.05	%	4/28/2032	352		(1)		(1)		—	%
Low Voltage Holdings Inc.	(6) (9)	First Lien Debt	S + 4.75%	9.05	%	4/28/2032	2,363		2,355		2,356		0.27	%
Pinnacle Supply Partners, LLC	(6)	First Lien Debt	S + 6.25%	10.67	%	4/3/2030	6,236		6,145		6,200		0.69	%
Pinnacle Supply Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 6.25%	10.61	%	4/3/2030	3,616		1,964		1,959		0.22	%
Total Utilities: Electric									25,618		25,919		2.92	%

Utilities: Water
USA Water Intermediate Holdings, LLC	(6)	First Lien Debt	S + 4.75%	9.03	%	2/21/2031	7,798		7,737		7,798		0.88	%
USA Water Intermediate Holdings, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	9.05	%	2/21/2031	3,033		1,521		1,521		0.17	%
Total Utilities: Water									9,258		9,319		1.05	%

Wholesale
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.98	%	1/19/2029	1,951		1,928		1,933		0.22	%
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(6)	First Lien Debt	S + 5.50%	9.98	%	1/19/2029	11,475		11,344		11,368		1.29	%
ISG Enterprises, LLC (Industrial Service Group)	(6)	First Lien Debt	S + 5.75%	10.03	%	12/7/2028	6,426		6,344		6,277		0.71	%


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)
ISG Enterprises, LLC (Industrial Service Group)	(6)	First Lien Debt (Delayed Draw)	S + 5.75%	10.03	%	12/7/2028	3,346		3,337		3,268		0.37	%
TPC Wire & Cable Corp.	(12)	Subordinated Debt	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	$	2,286	$	2,274	$	2,257	0.25	%
TPC Wire & Cable Corp.	(12)	Subordinated Debt (Delayed Draw)	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	936		936		924		0.10	%
TPC Wire & Cable Corp.	(12)	Subordinated Debt (Delayed Draw)	N/A	11.00% (Cash) 1.50% (PIK)		2/16/2028	1,743		1,743		1,721		0.19	%
Total Wholesale									27,906		27,748		3.13	%

Total Debt Investments									1,980,693		1,953,255		220.03	%


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	$	2,008	0.23	%
Total Aerospace & Defense					1,530		2,008		0.23	%

Automotive
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	LP Interests	12/31/2024	998,311	402		423		0.05	%
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	LP Interests	12/31/2024	1,836,884	404		7		—	%
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		305		0.03	%
Pegasus Aggregator Holdings LP (S&S Truck Parts)	(8) (12)	LP Interests	12/31/2024	7	668		621		0.07	%
Phoenix Topco Holdings LP (S&S Truck Parts)	(8) (10) (12)	Partnership Interests	6/3/2024	1,000	974		1,134		0.13	%
Phoenix Topco Holdings LP (S&S Truck Parts)	(8) (10) (12)	Warrants	6/3/2024	1,000	1		—		—	%
Total Automotive					3,520		2,490		0.28	%


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	15,373	$	2,008	$	2,580	0.29	%
VCP Tech24 Co-Invest Aggregator LP (Tech24)	(8) (12) (17)	Company Unit	10/5/2023	954	954		966		0.11	%
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		475		0.05	%
Total Beverage, Food & Tobacco					3,665		4,021		0.45	%

Capital Equipment
CMG HoldCo, LLC (Crete)	(8) (12)	Equity Co-Investment	5/19/2022	24	249		854		0.10	%
EFC Holdings, LLC (EFC International)	(8) (10) (12)	Class A Common Units	3/1/2023	148	60		67		0.01	%
EFC Holdings, LLC (EFC International)	(8) (10) (12)	Series A Preferred Units	3/1/2023	148	148		179		0.02	%
E-Tech Holdings Partnership, L.P. (E-Technologies Group, Inc.)	(8) (12)	Partnership Interests	5/22/2024	1,000,000	1,000		885		0.10	%
Lapmaster Co-Investment, LLC (Precision Surfacing Solutions)	(8) (10) (12)	Common Units	10/5/2022	3,750,000	3,750		5,553		0.62	%
Total Capital Equipment					5,207		7,538		0.85	%

Chemicals, Plastics & Rubber
New Spartech Holdings LLC	(8) (12)	Common Units	6/6/2025	315,000	1,595		1,595		0.18	%
Total Chemicals, Plastics & Rubber					1,595		1,595		0.18	%


Construction & Building
Erie Construction, LLC (Erie Construction)	(8) (10) (12)	Common Units	9/3/2021	166	166		911		0.10	%
GreyLion TGNL Holdings	(8) (10) (12) (17)	Common Units	5/2/2025	1,000,000	1,021		1,000		0.11	%
Oceansound Partners Co-Invest II, LP (Gannett Fleming)	(8) (12)	Series F Units	5/26/2023	1,272,139	1,272		1,837		0.21	%
OSP Gannett Aggregator, LP (Gannett Fleming)	(8) (12) (15)	Limited Partnership Interests	12/20/2022	894,607	895		1,292		0.15	%
RPI Investments LP (Rose Paving)	(8) (12)	Limited Partnership Interests	11/27/2024	690	100		105		0.01	%
Total Construction & Building					3,454		5,145		0.58	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Consumer Goods: Non-durable
Ultima Health Holdings, LLC	(8) (12)	Preferred Units	9/12/2022	15	$	170	$	254	0.03	%
Total Consumer Goods: Non-durable					170		254		0.03	%

Containers, Packaging & Glass
Conversion Holdings, L.P. (Specialized Packaging Group)	(8) (10) (12)	Class A Units	12/17/2020	147,708	148		177		0.02	%
Oliver Investors, LP (Oliver Packaging)	(8) (12)	Class A Units	4/22/2025	283	14		15		—	%
Oliver Investors, LP (Oliver Packaging)	(8) (12)	Class A Common Units	7/12/2022	11,916	1,131		387		0.04	%
Total Containers, Packaging & Glass					1,293		579		0.06	%

Healthcare & Pharmaceuticals
HMA Equity, LP (Health Management Associates)	(8) (12)	AA Equity Co-Invest	3/30/2023	399,904	400		429		0.05	%
MDC Group Holdings, LP (Mosaic Dental)	(8) (10) (12)	AA Equity Co-Invest	2/7/2023	245	245		100		0.01	%
NP/BF Holdings, L.P.	(8) (12)	AA Equity Co-Invest	4/30/2025	1,000	1,000		1,000		0.11	%
RCP Nats Co-Investment Fund LP	(8) (12) (17)	LP Interests	3/17/2025	1,000,000	1,000		1,000		0.11	%
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		762		0.09	%
Total Healthcare & Pharmaceuticals					4,102		3,291		0.37	%

High Tech Industries
Solve Group Holdings, L.P. (Solve Industrial)	(8) (12)	LP Interests	6/30/2021	313	313		108		0.01	%
Total High Tech Industries					313		108		0.01	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(8) (12)	Series A-3 Preferred Units	10/4/2022	56,899	853		566		0.06	%
Total Media: Diversified & Production					853		566		0.06	%

Services: Business
BayPine Monarch Co-Invest, LP	(8) (12) (17)	Common Equity	6/3/2025	100,000	100		100		0.01	%
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		—		—	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Concord FG Holdings, LP (E78)	(8) (10) (12)	Class A Common Units	12/1/2021	816	$	860	$	865	0.10	%
Geds Equity Investors, LP (Esquire Deposition Services)	(8) (12)	Class A Common Units	7/1/2024	2,424	320		270		0.03	%
KRIV Co-Invest Holdings, L.P. (Riveron)	(8) (12) (17)	Class A Common Units	7/17/2023	790	790		954		0.11	%
North Haven Terrapin IntermediateCo, LLC (Apex Companies)	(8) (10) (12)	Class A Common Units	1/31/2023	1,173	117		177		0.02	%
OSG Topco Holdings, LLC (Output Services Group, Inc.)	(8) (10) (12)	Class A Units	11/30/2023	47,021	833		788		0.09	%
Total Services: Business					3,666		3,154		0.36	%

Services: Consumer
CHS Investors, LLC	(8) (10) (12)	Class B Units	5/27/2025	576	83		83		0.01	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(8) (12)	Class B Units	7/31/2023	997,000	1,117		1,010		0.11	%
FS NU Investors, LP (NearU)	(8) (9) (12)	Class B Units	8/11/2022	2,432	243		173		0.02	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(8) (12)	Class B Units	1/9/2023	121	14		16		—	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(8) (12)	Class B Units	1/9/2023	4,907	491		640		0.07	%
Perennial Services Investors LLC (Perennial Services Group)	(8) (10) (12)	Class A Units	9/8/2023	7,784	778		1,050		0.12	%
Repipe Aggregator, LLC (Repipe Specialists)	(8) (10) (11) (12)	Purchased Units	3/31/2022	282	282		86		0.01	%
Total Services: Consumer					3,008		3,058		0.34	%

Sovereign & Public Finance
CMP Ren Partners I-A LP (LMI Consulting, LLC)	(8) (11) (12)	Limited Partnership Interests	6/30/2022	633,980	634		1,309		0.15	%
Total Sovereign & Public Finance					634		1,309		0.15	%

Transportation: Cargo
Red Griffin TopCo, LLC (Seko Global Logistics LLC)	(8) (12)	Partnership Units	11/27/2024	778	2,820		1,706		0.20	%
Red Griffin TopCo, LLC (Seko Global Logistics LLC)	(8) (12)	Partnership Units	11/27/2024	409	1,481		896		0.10	%
REP RO Coinvest IV-A, LP (RoadOne)	(8) (11) (12)	Partnership Units	12/29/2022	938,576	939		830		0.09	%
Total Transportation: Cargo					5,240		3,432		0.39	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Transportation: Consumer
ASTP Holdings CO-Investment LP (American Student Transportation Partners)	(8) (11) (12)	Limited Partnership Interest	9/11/2023	102,475	$	102	$	128	0.01	%
Total Transportation: Consumer					102		128		0.01	%

Utilities: Electric
Helios Aggregator Holdings I LP (Pinnacle Supply Partners, LLC)	(8) (12)	Subject Partnership Units	4/3/2023	279,687	280		227		0.03	%
Total Utilities: Electric					280		227		0.03	%

Utilities: Water
USAW Parent LLC (USA Water)	(8) (10) (12)	Common Units	2/21/2024	4,781	478		646		0.07	%
Total Utilities: Water					478		646		0.07	%

Total Equity Investments					39,110		39,549		4.45	%

(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 +


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	4.21%	40,654,703	$	40,655	$	40,655	4.58	%
First American Government Obligations Fund - Class Z	4.22%	142,654	143		143		0.02	%
Total Cash Equivalents			$	40,798	$	40,798	4.60	%
Total Investments and Cash Equivalents			$	2,060,601	$	2,033,602	229.08	%


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)	March 2030 Notes	6.65%	S + 2.3015%	3/15/2030	$	300,000	$	18,850	$	18,850	—
Total Derivatives - Interest Rate Swaps								$	18,850	$	18,850	—


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


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


	June 30, 2025		June 30, 2024
Cash	$	3,210	$	3,301
Cash equivalents	40,798		67,685
Restricted cash	—		50
Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows	$	44,008	$	71,036