ncdlc-20260331

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

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


	March 31, 2026		December 31, 2025

Assets	(Unaudited)
Investments
Non-controlled/non-affiliated company investments, at fair value (cost of $2,022,433 and $2,001,207, respectively)	$	1,975,862	$	1,962,449
Cash	15,269		8,554
Cash equivalents	35,131		53,927



Interest receivable	14,253		13,729
Derivative asset, at fair value (Note 4)	7,500		14,965
Receivable for investments sold	352		518


Other assets	331		327
Total assets	$	2,048,698	$	2,054,469

Liabilities
Debt (net of $8,568 and $8,511 deferred financing and issuance costs, respectively, and net of unamortized discount of $443 and $471, respectively) (See Note 7)	$	1,137,789	$	1,115,052

Interest payable	8,391		15,350
Incentive fees payable	1,535		2,809


Management fees payable	4,940		5,048
Collateral due to broker	7,000		14,750
Distributions payable	19,755		22,224
Directors’ fees payable	142		156
Accounts payable and accrued expenses	5,034		3,900
Total liabilities	1,184,586		1,179,289

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, 49,387,065 and 49,387,065 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	494		494
Paid-in-capital in excess of par value	930,393		930,393
Total distributable earnings (loss)	(66,775)		(55,707)
Total net assets	864,112		875,180

Total liabilities and net assets	$	2,048,698	$	2,054,469

Net asset value per share (See Note 11)	$	17.50	$	17.72


	Three Months Ended March 31,
	2026		2025
Investment income:
Non-controlled/non-affiliated company investments:
Interest income	$	42,862	$	50,846
Payment-in-kind interest income	3,122		2,365

Other income	274		375
Total investment income	46,258		53,586

Expenses:
Interest and debt financing expenses	17,749		20,643
Management fees (See Note 6)	4,940		3,914
Incentive fees on net investment income (See Note 6)	1,535		2,253

Professional fees	763		493
Directors' fees	162		156
Administration fees (See Note 6)	680		586
Other general and administrative expenses	385		342
Total expenses before incentive fees waived	26,214		28,387

Incentive fees waived (See Note 6)	—		(2,253)
Net expenses after incentive fees waived	26,214		26,134


Net investment income	20,044		27,452

Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on non-controlled/non-affiliated company investments	(3,289)		1,103
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated company investments	(7,813)		(13,573)
Income tax (provision) benefit	(255)		39
Total net change in unrealized appreciation (depreciation)	(8,068)		(13,534)
Total net realized and unrealized gain (loss) on investments	(11,357)		(12,431)

Net increase (decrease) in net assets resulting from operations	$	8,687	$	15,021

Per share data:

Net increase (decrease) in net assets resulting from operations per share - basic and diluted	$	0.18	$	0.29
Weighted average common shares outstanding - basic and diluted	49,387,065		52,211,340


	Three Months Ended March 31,
	2026		2025
Increase (decrease) in net assets resulting from operations:
Net investment income	$	20,044	$	27,452
Net realized gain (loss) on investments	(3,289)		1,103
Total net change in unrealized appreciation (depreciation)	(8,068)		(13,534)
Net increase (decrease) in net assets resulting from operations	8,687		15,021
Shareholder distributions:
Distributions declared from distributable earnings	(19,755)		(28,265)
Net increase (decrease) in net assets resulting from shareholder distributions	(19,755)		(28,265)
Capital share transactions:


Repurchases of common shares	—		(37,056)
Net increase (decrease) in net assets resulting from capital share transactions	—		(37,056)
Total increase (decrease) in net assets	(11,068)		(50,300)
Net assets, beginning of period	875,180		970,320
Net assets, end of period	$	864,112	$	920,020

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


	Three Months Ended March 31,
	2026		2025
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	8,687	$	15,021

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities
Purchases of investments	(85,359)		(153,019)
Proceeds from principal repayments and sales of investments	65,015		148,350
Payment-in-kind interest	(3,122)		(2,365)
Amortization of (premium)/accretion of discount, net	(1,049)		(1,627)
Net realized (gain) loss on investments	3,289		(1,103)
Net change in unrealized (appreciation) depreciation on investments	7,813		13,573
Net adjustment for hedging transaction	4,925		(36)

Amortization of deferred financing costs and original issue discount	1,396		1,956

Changes in operating assets and liabilities:

Interest receivable	(524)		(2,730)
Receivable for investments sold	166		(15,539)


Other assets	(4)		(341)
Payable for investments purchased	—		(8,323)
Interest payable	(6,959)		(2,551)

Incentive fee payable	(1,274)		—

Management fees payable	(108)		(42)
Collateral due to broker	(7,750)		—
Directors’ fees payable	(14)		28

Accounts payable and accrued expenses	1,134		(60)
Net cash provided by (used in) operating activities	(13,738)		(8,808)

Cash flows from financing activities:



Shareholder distributions	(22,224)		(29,467)
Repurchases of common shares	—		(37,056)
Proceeds from debt	272,500		796,845
Repayments on debt	(247,194)		(710,037)
Payments of deferred financing costs	(1,425)		(5,603)
Net cash provided by (used in) financing activities	1,657		14,682

Net increase (decrease) in cash and cash equivalents and restricted cash	(12,081)		5,874
Cash and cash equivalents and restricted cash, beginning of period	62,481		43,304
Cash and cash equivalents and restricted cash, end of period	$	50,400	$	49,178
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$	23,312	$	21,238


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 + 5.00%	8.67	%	7/25/2030	$	1,547	$	1,532	$	1,554	0.18	%
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	7/25/2030	887		885		890		0.10	%
PAG Holding Corp. (Precision Aviation Group)	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	12/21/2029	14,701		14,502		14,701		1.70	%
PAG Holding Corp. (Precision Aviation Group)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	12/21/2029	4,874		4,843		4,874		0.56	%
STS Holding, Inc.	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	11/12/2030	3,491		3,463		3,343		0.39	%
Turbine Engine Specialists, Inc.	(12)	Subordinated Debt	S + 9.50%	13.27	%	3/1/2029	811		793		812		0.09	%
Turbine Engine Specialists, Inc.	(12)	Subordinated Debt	S + 9.50%	13.27	%	3/1/2029	2,498		2,459		2,500		0.29	%
Valkyrie Intermediate, LLC	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,902		2,881		2,873		0.33	%
Total Aerospace & Defense									31,358		31,547		3.64	%

Automotive
Covercraft Parent III, Inc.	(12) (16)	Subordinated Debt	N/A	14.50% (PIK)		2/20/2028	7,562		7,491		680		0.08	%
High Bar Brands Operating, LLC	(12)	Subordinated Debt	N/A	13.00	%	6/19/2030	2,088		2,054		2,000		0.23	%
JEGS Automotive	(12)	Revolving Loan	S + 7.00%	10.67% (PIK)		12/31/2029	227		227		227		0.03	%
JEGS Automotive	(12)	First Lien Debt	S + 7.00%	10.67% (PIK)		12/31/2029	1,363		1,363		1,363		0.16	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 4.75%	8.53	%	3/1/2029	1,133		1,127		1,123		0.13	%
RA Parent Holdings LP (S&S Truck Parts)	(6) (12)	First Lien Debt	S + 4.75%	8.53	%	3/1/2029	19,781		19,648		19,606		2.27	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 4.75%	8.53	%	3/1/2029	1,685		1,685		1,671		0.19	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 4.75%	8.53	%	3/1/2029	96		96		95		0.01	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 4.75%	8.53	%	3/1/2029	6,701		6,670		6,642		0.77	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	11/1/2029	3,715		3,585		3,533		0.41	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(6) (9) (12)	First Lien Debt	S + 5.00%	8.67	%	11/1/2029	10,884		10,803		10,730		1.24	%
Total Automotive									54,749		47,670		5.52	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)
Banking, Finance, Insurance, Real Estate
Aprio Advisory Group, LLC	(11) (12)	Revolving Loan	S + 4.75%	8.42	%	8/1/2031	8	3	3	—	%
Aprio Advisory Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	8/1/2031	92	—	(1)	—	%
Ascend Partner Services LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.13	%	8/11/2031	12,587	12,539	12,211	1.41	%
Ascend Partner Services LLC	(6)	First Lien Debt	S + 4.50%	8.13	%	8/11/2031	7,266	7,209	7,049	0.82	%
Big Apple Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	11/18/2031	4,302	1,134	1,114	0.13	%
Big Apple Advisory, LLC	(11) (12)	Revolving Loan	S + 4.50%	8.17	%	11/18/2031	1,740	(14)	(15)	—	%
Big Apple Advisory, LLC	(12)	First Lien Debt	S + 4.50%	8.17	%	11/18/2031	8,866	8,792	8,788	1.02	%
Cohen Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	12/31/2031	4,823	195	215	0.02	%
Cohen Advisory, LLC	(6)	First Lien Debt	S + 4.50%	8.20	%	12/31/2031	8,577	8,506	8,577	0.99	%
Compex Legal Services, Inc.	(12)	First Lien Debt	S + 5.75%	9.51	%	3/31/2028	100	99	99	0.01	%
Illumifin Corporation (Long Term Care Group)	(9) (12)	First Lien Debt	S + 6.00%	9.93	%	9/8/2027	7,258	7,259	6,983	0.81	%
Knight AcquireCo, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.16	%	11/8/2032	1,250	—	(4)	—	%
Knight AcquireCo, LLC	(6) (9)	First Lien Debt	S + 4.50%	8.16	%	11/8/2032	3,750	3,742	3,738	0.43	%
Patriot Growth Insurance Services, LLC	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.85	%	10/16/2028	7,010	6,979	6,925	0.80	%
Smith & Howard Advisory LLC	(6) (12)	First Lien Debt	S + 5.00%	8.66	%	11/26/2030	5,112	5,089	4,998	0.58	%
Vensure Employer Services, Inc.	(9) (12)	First Lien Debt	S + 5.00%	8.67	%	9/27/2031	3,262	3,242	3,234	0.37	%
World Insurance Associates, LLC	(6) (9) (12)	First Lien Debt	S + 5.00%	8.70	%	4/3/2030	14,584	14,580	14,401	1.67	%
Total Banking, Finance, Insurance, Real Estate								79,354	78,315	9.06	%

Beverage, Food & Tobacco
AmerCareRoyal, LLC	(6)	First Lien Debt	S + 5.00%	8.67	%	9/10/2030	711	705	702	0.08	%
AmerCareRoyal, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	9/10/2030	165	—	(2)	—	%
AmerCareRoyal, LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	9/10/2030	113	113	112	0.01	%
Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(12)	Subordinated Debt	S + 7.75%	11.43	%	8/30/2027	9,300	9,238	8,841	1.02	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (9) (14)	Subordinated Debt	S + 7.25%	11.03	%	6/8/2029	6,245	6,187	6,184	0.72	%
Boardwalk Buyer LLC (Death Wish Coffee)	(6) (9)	First Lien Debt	S + 4.75%	8.55	%	9/28/2028	9,575	9,551	9,575	1.11	%
Commercial Bakeries Corp.	(6) (10) (12)	First Lien Debt	S + 5.25%	8.95	%	9/25/2029	16,892	16,684	16,806	1.94	%
Commercial Bakeries Corp.	(6) (10)	First Lien Debt	S + 5.25%	8.90	%	9/25/2029	1,999	1,988	1,989	0.23	%


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)
FoodScience, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.36	%	11/14/2031	6,301	2,061	2,066	0.24	%
FoodScience, LLC	(6) (12)	First Lien Debt	S + 4.75%	8.49	%	11/14/2031	5,852	5,805	5,845	0.68	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.26% (Cash) 5.13% (PIK)		4/3/2029	4,349	4,300	4,216	0.49	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.26% (Cash) 5.13% (PIK)		4/3/2029	869	857	842	0.10	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.26% (Cash) 5.13% (PIK)		4/3/2029	1,028	1,013	996	0.12	%
Naturpak PPC Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	12/22/2032	1,111	—	(3)	—	%
Naturpak PPC Buyer LLC	(6)	First Lien Debt	S + 4.50%	8.20	%	12/22/2032	4,889	4,867	4,874	0.56	%
Nellson Nutraceutical, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.45	%	4/17/2031	72	—	—	—	%
Nellson Nutraceutical, LLC	(9) (12)	First Lien Debt	S + 5.75%	9.45	%	4/17/2031	923	915	924	0.11	%
Palmetto Acquisitionco, Inc. (Tech24)	(6) (12)	First Lien Debt	S + 5.75%	9.45	%	9/18/2029	13,015	12,870	12,493	1.45	%
Palmetto Acquisitionco, Inc. (Tech24)	(12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.45	%	9/18/2029	3,666	3,659	3,519	0.41	%
Razor Light, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	2/6/2032	1,435	(7)	(6)	—	%
Razor Light, Inc.	(11) (12)	Revolving Loan	S + 4.75%	8.45	%	2/6/2032	1,103	(5)	(5)	—	%
Razor Light, Inc.	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	2/6/2032	7,462	7,427	7,428	0.86	%
Refresh Buyer, LLC (Sunny Sky Products)	(6) (12)	First Lien Debt	S + 4.75%	8.35	%	12/23/2028	6,934	6,895	6,808	0.79	%
Refresh Buyer, LLC (Sunny Sky Products)	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.35	%	12/23/2028	1,756	1,756	1,724	0.20	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(12)	First Lien Debt	S + 5.00%	8.82	%	7/30/2027	10,358	10,302	10,102	1.17	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(12)	First Lien Debt	S + 5.00%	8.82	%	7/30/2027	9,410	9,343	9,177	1.06	%
Watermill Express, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	4/30/2031	2,373	2,369	2,387	0.28	%
Watermill Express, LLC	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	4/30/2031	3,154	3,154	3,174	0.37	%
Watermill Express, LLC	(6) (9) (12)	First Lien Debt	S + 4.50%	8.20	%	4/30/2031	6,295	6,255	6,334	0.73	%
Watermill Express, LLC	(6) (9)	First Lien Debt	S + 4.50%	8.20	%	4/30/2031	3,211	3,204	3,231	0.37	%
Watermill Express, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	4/30/2031	310	310	312	0.04	%
Watermill Express, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	4/30/2031	1,880	(6)	11	—	%
Watermill Express, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.20	%	4/30/2031	2,741	2,716	2,758	0.32	%
WCHG Buyer, Inc. (Handgards, LLC)	(6) (12)	First Lien Debt	S + 4.75%	8.42	%	4/10/2031	20,181	20,026	20,176	2.33	%
Total Beverage, Food & Tobacco								154,552	153,590	17.79	%


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.	(12)	First Lien Debt	S + 4.50%	8.17	%	9/9/2030	967	959	951	0.11	%
Engineered Fastener Company, LLC (EFC International)	(12)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,373	3,328	3,317	0.38	%
FirstCall Mechanical Group, LLC	(6)	First Lien Debt	S + 4.75%	8.45	%	6/27/2031	9,825	9,753	9,763	1.13	%
FirstCall Mechanical Group, LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	6/27/2031	19,794	19,783	19,669	2.28	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(9) (12)	First Lien Debt	S + 6.00%	9.80	%	12/15/2026	6,317	6,312	6,226	0.72	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.80	%	12/15/2026	5,479	5,476	5,399	0.62	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.80	%	12/15/2026	2,512	2,512	2,476	0.29	%
Hyperion Materials & Technologies, Inc.	(12) (14)	First Lien Debt	S + 4.50%	8.43	%	8/30/2028	2,593	2,593	2,214	0.26	%
Jetson Buyer, Inc. (E-Technologies Group, Inc.)	(6) (12)	First Lien Debt	S + 5.50%	9.20	%	4/9/2030	7,186	7,133	6,928	0.80	%
Ovation Holdings, Inc	(12)	First Lien Debt (Delayed Draw)	S +4.75%	8.45	%	2/4/2030	7,819	7,759	7,780	0.90	%
Ovation Holdings, Inc	(6)	First Lien Debt	S +4.75%	8.45	%	2/4/2030	936	929	932	0.11	%
Ovation Holdings, Inc	(6)	First Lien Debt	S +4.75%	8.45	%	2/4/2030	7,853	7,763	7,814	0.90	%
Ovation Holdings, Inc	(6)	First Lien Debt (Delayed Draw)	S +4.75%	8.45	%	2/4/2030	1,858	1,845	1,849	0.21	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6)	First Lien Debt	S +5.25%	9.15	%	4/4/2029	9,403	9,306	9,231	1.07	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.16	%	4/4/2029	1,808	1,804	1,775	0.21	%
SkyMark Refuelers, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	12/16/2032	914	616	612	0.07	%
SkyMark Refuelers, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	12/16/2032	1,364	—	(7)	—	%
SkyMark Refuelers, LLC	(6)	First Lien Debt	S + 4.50%	8.17	%	12/16/2032	2,722	2,709	2,709	0.31	%
Specialty Manufacturing Holdings, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	3/31/2033	17	—	—	—	%
Specialty Manufacturing Holdings, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.20	%	3/31/2033	83	83	83	0.01	%
USA Industries Holdings LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.91	%	12/10/2032	36	—	—	—	%
USA Industries Holdings LLC	(12)	First Lien Debt	S + 4.25%	7.91	%	12/10/2032	63	63	63	0.01	%
Vessco Midco Holdings, LLC	(6) (9) (12)	First Lien Debt	S + 4.50%	8.17	%	7/24/2031	13,706	13,593	13,447	1.56	%
Vessco Midco Holdings, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	7/24/2031	4,569	4,201	4,132	0.48	%
Vessco Midco Holdings, LLC	(9) (11) (12)	Revolving Loan	S + 4.50%	8.24	%	7/24/2031	1,726	(13)	(33)	—	%
Total Capital Equipment								108,507	107,330	12.43	%


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)
Chemicals, Plastics, & Rubber
Boulder Scientific Company, LLC	(6)	First Lien Debt	S + 4.50%	8.16	%	12/31/2027	1,984	1,992	1,970	0.23	%
Chroma Color Corporation	(6)	First Lien Debt	S + 4.25%	7.95	%	4/23/2029	6,171	6,101	6,096	0.71	%
Chroma Color Corporation	(6)	First Lien Debt (Delayed Draw)	S + 4.25%	7.95	%	4/23/2029	1,362	1,355	1,346	0.16	%
New Spartech Holdings LLC	(12)	First Lien Debt	S + 7.00%	10.67	%	3/31/2030	1,434	1,410	1,434	0.17	%
New Spartech Holdings LLC	(9) (12)	First Lien Debt	S + 1.00%	4.67% (Cash) 4.25% (PIK)		9/30/2030	2,439	2,439	2,081	0.24	%
Olympic Buyer, Inc. (Ascensus)	(9) (12)	First Lien Debt	S + 4.35%	8.02	%	6/30/2028	9,506	9,430	8,130	0.94	%
WCI-Momentum Bidco, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	12/31/2032	17	—	—	—	%
WCI-Momentum Bidco, LLC	(12)	First Lien Debt	S + 4.75%	8.45	%	12/31/2032	83	83	83	0.01	%
Total Chemicals, Plastics, & Rubber								22,810	21,140	2.46	%

Construction & Building
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt	N/A	1.00% (Cash) 13.00% (PIK)		4/26/2030	2,574	2,532	2,203	0.25	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	1.00% (Cash) 13.00% (PIK)		4/26/2030	4,900	4,860	4,194	0.49	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	1.00% (Cash) 13.00% (PIK)		4/26/2030	6,217	6,166	5,321	0.62	%
Athlete Buyer, LLC (Allstar Holdings)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	13.00% (PIK)		4/26/2030	2,510	(24)	(362)	(0.04	%)
Cobalt Service Partners, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	10/13/2031	3,157	2,293	2,279	0.26	%
Cobalt Service Partners, LLC	(6) (9)	First Lien Debt	S + 4.75%	8.45	%	10/13/2031	1,817	1,802	1,802	0.21	%
Gannett Fleming, Inc.	(6) (9) (12)	First Lien Debt	S + 4.25%	7.90	%	8/5/2030	17,602	17,400	17,489	2.02	%
Gannett Fleming, Inc.	(9) (11) (12)	Revolving Loan	S + 4.50%	8.19	%	8/5/2030	2,131	829	839	0.10	%
Heartland Paving Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	8/9/2030	5,676	5,045	4,912	0.57	%
Heartland Paving Partners, LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	8/9/2030	5,666	5,656	5,522	0.64	%
Heartland Paving Partners, LLC	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	8/9/2030	8,443	8,378	8,229	0.95	%
ICE USA Infrastructure, Inc.	(6) (12)	First Lien Debt	S + 5.75%	9.42	%	3/15/2030	6,489	6,442	6,448	0.75	%
Java Buyer, Inc.	(6) (9) (12)	First Lien Debt	S + 4.75%	8.45	%	12/15/2030	13,948	13,870	13,920	1.61	%
MEI Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.92	%	6/29/2029	2,095	521	521	0.06	%
MEI Buyer LLC	(6) (12)	First Lien Debt	S + 4.25%	7.92	%	6/29/2029	11,173	11,035	11,174	1.29	%
MEI Buyer LLC	(12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.92	%	6/29/2029	1,787	1,782	1,787	0.21	%
Rose Paving, LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	12.00	%	5/7/2030	191	190	184	0.02	%
Rose Paving, LLC	(12)	Subordinated Debt	N/A	12.00	%	5/7/2030	2,937	2,910	2,832	0.33	%
Royal Holdco Corporation (RMA Companies)	(11) (12)	First Lien Debt (Delayed Draw)	S +4.50%	8.17	%	12/30/2030	3,431	1,235	1,201	0.14	%


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)
Royal Holdco Corporation (RMA Companies)	(6) (12)	First Lien Debt	S + 4.50%	8.17	%	12/30/2030	16,358	16,281	16,061	1.86	%
SCIC Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	3/28/2031	3,105	470	539	0.06	%
SCIC Buyer, Inc.	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	3/28/2031	14,665	14,537	14,958	1.73	%
WSB Engineering Holdings Inc.	(6)	First Lien Debt	S + 4.50%	8.17	%	8/31/2029	6,372	6,315	6,319	0.73	%
WSB Engineering Holdings Inc.	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	8/31/2029	4,186	4,172	4,151	0.48	%
Total Construction & Building								134,697	132,523	15.34	%

Consumer Goods: Durable
DRS Holdings III, Inc.	(6) (9)	First Lien Debt	S + 5.25%	8.92	%	11/1/2028	2,828	2,828	2,817	0.33	%
Momentum Textiles, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		9/25/2029	5,155	5,084	5,081	0.59	%
XpressMyself.com LLC (SmartSign)	(6) (12)	First Lien Debt	S + 5.50%	9.27	%	9/7/2028	9,650	9,612	9,649	1.12	%
XpressMyself.com LLC (SmartSign)	(6)	First Lien Debt	S + 5.75%	9.51	%	9/7/2028	4,911	4,862	4,910	0.57	%
Total Consumer Goods: Durable								22,386	22,457	2.61	%

Consumer Goods: Non-durable
Bradford Soap International, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	8/28/2031	1,000	—	(3)	—	%
Bradford Soap International, Inc.	(6)	First Lien Debt	S + 4.75%	8.42	%	8/28/2031	2,993	2,979	2,984	0.35	%
FoodServices Brand Group, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		2/8/2030	3,133	3,064	3,039	0.35	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(6)	First Lien Debt	S + 4.75%	8.52	%	6/30/2030	6,634	6,609	6,601	0.76	%
KL Bronco Acquisition, Inc. (Elevation Labs)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.52	%	6/30/2030	2,457	2,448	2,445	0.28	%
MPG Parent Holdings, LLC (Market Performance Group)	(6) (12)	First Lien Debt	S + 5.00%	8.66	%	1/8/2030	12,367	12,283	12,416	1.44	%
MPG Parent Holdings, LLC (Market Performance Group)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.66	%	1/8/2030	3,036	3,036	3,048	0.35	%
Total Consumer Goods: Non-durable								30,419	30,530	3.53	%

Containers, Packaging & Glass
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(12)	First Lien Debt	S + 6.75%	10.60	%	10/7/2026	14,098	14,096	13,781	1.59	%
B2B Industrial Products, LLC (AMW Acquisition Company, Inc.)	(12)	First Lien Debt	S + 6.75%	10.60	%	10/7/2026	112	111	109	0.01	%
good2grow LLC	(6) (12)	First Lien Debt	S + 4.50%	8.32	%	12/1/2027	8,699	8,672	8,648	1.00	%
good2grow LLC	(6) (12)	First Lien Debt	S + 5.50%	9.32	%	12/1/2027	4,029	4,003	4,029	0.47	%
good2grow LLC	(6) (12)	First Lien Debt	S + 4.75%	8.57	%	12/1/2027	14,086	14,022	14,058	1.63	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)
Ivex Holdco Inc. (Specialized Packaging Group)	(6) (10) (12)	First Lien Debt	S + 5.50%	9.31	%	12/17/2027	10,026	10,010	9,960	1.15	%
Ivex Holdco Inc. (Specialized Packaging Group)	(10) (12)	First Lien Debt	S + 5.50%	9.31	%	12/17/2027	4,310	4,310	4,282	0.50	%
Ivex Holdco Inc. (Specialized Packaging Group)	(6) (10) (12)	First Lien Debt	S + 5.50%	9.31	%	12/17/2027	6,740	6,740	6,695	0.77	%
Ivex Holdco Inc. (Specialized Packaging Group)	(10) (12)	First Lien Debt	S + 5.50%	9.31	%	12/17/2027	3,250	3,250	3,228	0.37	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	11.50% (PIK)		1/6/2029	2,871	2,849	2,513	0.29	%
Oliver Packaging, LLC	(12)	Subordinated Debt	N/A	13.00% (PIK)		1/6/2029	541	535	492	0.06	%
Online Labels Group, LLC	(12)	First Lien Debt	S + 4.75%	8.45	%	12/19/2029	3,254	3,232	3,254	0.38	%
Online Labels Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	12/19/2029	401	200	200	0.02	%
Online Labels Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	12/19/2029	403	—	—	—	%
Performance Packaging Buyer, LLC	(6)	First Lien Debt	S + 4.50%	8.13	%	4/15/2031	6,960	6,899	6,908	0.80	%
Total Containers, Packaging & Glass								78,929	78,157	9.04	%

Energy: Electricity
Environ Energy, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	8.92	%	10/1/2031	1,481	227	226	0.03	%
Environ Energy, LLC	(6)	First Lien Debt	S + 5.25%	8.92	%	10/1/2031	2,512	2,495	2,493	0.29	%
Matador US Buyer, LLC (Insulation Technology Group)	(6) (10) (12)	First Lien Debt	S + 5.00%	8.67	%	6/25/2030	22,073	21,906	22,133	2.56	%
Matador US Buyer, LLC (Insulation Technology Group)	(10) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	6/25/2030	5,841	5,841	5,856	0.68	%
Total Energy: Electricity								30,469	30,708	3.56	%

Environmental Industries
CLS Management Services, LLC (Contract Land Staff)	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	3/27/2030	7,412	7,359	7,376	0.85	%
CLS Management Services, LLC (Contract Land Staff)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	8.65	%	3/27/2030	2,980	2,976	2,965	0.34	%
CLS Management Services, LLC (Contract Land Staff)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	3/27/2030	4,984	4,476	4,460	0.52	%
Impact Parent Corporation (Impact Environmental Group)	(6) (12)	First Lien Debt	S + 5.25%	9.05	%	3/23/2029	6,623	6,545	6,554	0.76	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Debt (Delayed Draw)	S + 5.25%	9.05	%	3/23/2029	3,094	3,085	3,062	0.35	%
Impact Parent Corporation (Impact Environmental Group)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.05	%	3/23/2029	6,707	6,689	6,637	0.77	%
Impact Parent Corporation (Impact Environmental Group)	(6)	First Lien Debt	S + 5.25%	9.05	%	3/23/2029	1,697	1,677	1,679	0.19	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Debt	S + 5.75%	9.52	%	11/30/2028	4,760	4,748	4,663	0.54	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)
NFM & J, L.P. (The Facilities Group)	(6) (9) (12)	First Lien Debt	S + 5.75%	9.52	%	11/30/2028	8,823	8,789	8,644	1.00	%
NFM & J, L.P. (The Facilities Group)	(6) (9)	First Lien Debt (Delayed Draw)	S + 5.75%	9.52	%	11/30/2028	4,839	4,839	4,741	0.55	%
NFM & J, L.P. (The Facilities Group)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.52	%	11/30/2028	553	553	542	0.06	%
Nutrition 101 Buyer, LLC (101 Inc)	(6)	First Lien Debt	S + 5.25%	9.05	%	8/31/2028	6,497	6,473	6,384	0.74	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6)	First Lien Debt	S + 4.75%	8.45	%	7/3/2029	8,357	8,278	8,304	0.96	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	7/3/2029	6,345	6,338	6,305	0.73	%
Orion Group FM Holdings, LLC (Leo Facilities)	(6)	First Lien Debt	S + 4.75%	8.45	%	7/3/2029	1,569	1,557	1,559	0.18	%
Orion Group FM Holdings, LLC (Leo Facilities)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	7/3/2029	13,446	5,832	5,748	0.67	%
SI Solutions, LLC	(6)	First Lien Debt	S + 4.75%	8.42	%	8/15/2030	11,724	11,636	11,684	1.35	%
SI Solutions, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	8/15/2030	5,593	1,102	1,093	0.13	%
Total Environmental Industries								92,952	92,400	10.69	%

Healthcare & Pharmaceuticals
AB Centers Acquisition Corporation (Action Behavior Centers)	(6) (12)	First Lien Debt	S + 5.25%	8.92	%	7/2/2031	1,463	1,457	1,445	0.17	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(6) (12)	First Lien Debt	S + 5.25%	8.92	%	7/2/2031	15,477	15,352	15,287	1.77	%
AB Centers Acquisition Corporation (Action Behavior Centers)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	8.92	%	7/2/2031	2,836	1,393	1,363	0.16	%
ACP Maverick Holdings, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	3/18/2031	3,622	2,924	2,922	0.34	%
ACP Maverick Holdings, Inc.	(6) (9) (12)	First Lien Debt	S + 4.75%	8.45	%	3/18/2031	16,200	16,061	16,126	1.87	%
Affinity Hospice Intermediate Holdings, LLC	(12)	First Lien Debt	S + 4.75%	8.55	%	12/17/2029	6,562	6,541	4,802	0.56	%
Anne Arundel Dermatology Management, LLC	(12)	First Lien Debt	N/A	4.71% (PIK)		1/15/2029	649	649	649	0.08	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	12.75% (PIK)		10/15/2028	3,282	3,283	1,283	0.15	%
Anne Arundel Dermatology Management, LLC	(12) (16)	Subordinated Debt	N/A	13.25% (PIK)		4/15/2028	1,972	1,972	2,023	0.23	%
Anne Arundel Dermatology Management, LLC	(12)	First Lien Debt	N/A	4.71% (PIK)		4/15/2028	566	566	566	0.07	%
Anne Arundel Dermatology Management, LLC	(11) (12) (16)	Subordinated Debt (Delayed Draw)	N/A	13.25% (PIK)		4/15/2028	2,396	2,029	2,091	0.24	%
ARC Health OPCO, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 5.00% (PIK)		4/10/2031	1,222	(17)	(34)	—	%
ARC Health OPCO, LLC	(12)	Subordinated Debt	N/A	8.00% (Cash) 5.00% (PIK)		4/10/2031	2,503	2,435	2,433	0.28	%


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)
Bluebird PM Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	2/3/2032	1,153	(2)	—	—	%
Bluebird PM Buyer, Inc.	(6)	First Lien Debt	S + 4.75%	8.45	%	2/3/2032	8,371	8,302	8,371	0.97	%
Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	8.87	%	12/22/2031	4,822	(21)	(68)	(0.01	%)
Bridges Consumer Healthcare Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	8.87	%	12/22/2031	2,738	2,175	2,147	0.25	%
Bridges Consumer Healthcare Intermediate LLC	(6)	First Lien Debt	S + 5.25%	8.87	%	12/22/2031	5,741	5,694	5,659	0.65	%
Coding Solutions Acquisition, Inc.	(6) (9) (12)	First Lien Debt	S + 5.00%	8.67	%	8/7/2031	13,475	13,411	13,279	1.53	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	8/7/2031	521	(1)	(8)	—	%
Coding Solutions Acquisition, Inc.	(9) (11) (12)	Revolving Loan	S + 5.00%	8.67	%	8/7/2031	1,246	(10)	(18)	—	%
Dermatology Intermediate Holdings III, Inc. (Forefront Dermatology)	(6) (9) (12) (14)	First Lien Debt	S + 4.25%	7.92	%	3/30/2029	3,239	3,212	3,067	0.35	%
Eyesouth Eye Care Holdco LLC	(6) (12)	First Lien Debt	S + 5.50%	9.27	%	10/5/2029	7,304	7,260	7,199	0.83	%
Eyesouth Eye Care Holdco LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.27	%	10/5/2029	2,395	2,395	2,360	0.27	%
FH DMI Buyer, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	10/11/2030	1,098	1,097	1,098	0.13	%
FH DMI Buyer, Inc.	(6)	First Lien Debt	S + 5.00%	8.70	%	10/11/2030	1,968	1,952	1,968	0.23	%
Genesee Scientific LLC	(6) (9) (12)	First Lien Debt	S + 5.75%	9.55	%	9/30/2027	5,822	5,808	5,209	0.60	%
Genesee Scientific LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.55	%	9/30/2027	1,524	1,524	1,364	0.16	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.07	%	12/9/2027	6,254	6,237	5,864	0.68	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.07	%	12/9/2027	1,956	1,956	1,834	0.21	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.07	%	12/9/2027	4,869	4,834	4,566	0.53	%
GHR Healthcare, LLC	(6) (9) (12)	First Lien Debt	S + 5.25%	9.07	%	12/9/2027	7,947	7,909	7,451	0.86	%
GHR Healthcare, LLC	(9) (12)	First Lien Debt	S + 5.25%	9.07	%	12/9/2027	3,695	3,677	3,464	0.40	%
Health Management Associates, Inc.	(6)	First Lien Debt	S + 6.25%	10.01	%	3/30/2029	8,258	8,164	8,217	0.95	%
Health Management Associates, Inc.	(6)	First Lien Debt (Delayed Draw)	S + 6.25%	10.01	%	3/30/2029	1,067	1,048	1,062	0.12	%
Healthspan Buyer, LLC (Thorne HealthTech)	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	10/16/2030	10,412	10,340	10,370	1.20	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	7.50% (Cash) 7.00% (PIK)		9/10/2028	3,964	3,964	3,925	0.45	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	7.50% (Cash) 7.00% (PIK)		9/10/2028	10,919	10,919	10,813	1.25	%
Heartland Veterinary Partners LLC	(12)	Subordinated Debt	N/A	7.50% (Cash) 7.00% (PIK)		9/10/2028	2,184	2,177	2,163	0.25	%
HemaSource, Inc.	(12)	Subordinated Debt	N/A	9.75	%	2/28/2030	3,664	3,595	3,644	0.42	%
HLSG Intermediate, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	2/2/2033	25	—	—	—	%
HLSG Intermediate, LLC	(9) (12)	First Lien Debt	S + 4.75%	8.42	%	2/2/2033	75	75	75	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)
HMN Acquirer Corp.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	11/5/2031	2,426	(5)	(21)	—	%
HMN Acquirer Corp.	(6)	First Lien Debt	S + 4.50%	8.20	%	11/5/2031	6,515	6,462	6,459	0.75	%
Impact Advisors, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	3/19/2032	7,143	12	(43)	—	%
Impact Advisors, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.20	%	3/19/2032	12,729	12,616	12,576	1.46	%
JKC Buyer, Inc. (J. Knipper and Company Inc)	(6)	First Lien Debt (Delayed Draw)	S + 4.50%	8.13	%	2/13/2032	2,087	2,077	2,052	0.24	%
JKC Buyer, Inc. (J. Knipper and Company Inc)	(6)	First Lien Debt	S + 4.50%	8.13	%	2/13/2032	6,028	5,981	5,928	0.69	%
Lavie Group, Inc.	(6) (9)	First Lien Debt	S + 5.00%	8.63	%	10/12/2029	4,617	4,594	4,579	0.53	%
Lavie Group, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.63	%	10/10/2029	734	456	452	0.05	%
Lavie Group, Inc.	(6) (9)	First Lien Debt	S + 5.00%	8.63	%	10/12/2029	2,734	2,712	2,712	0.31	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt	N/A	12.25% (PIK)		2/7/2030	146	146	132	0.02	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt	N/A	12.25% (PIK)		2/7/2030	2,125	2,102	1,709	0.20	%
MDC Intermediate Holdings II, LLC (Mosaic Dental)	(12)	Subordinated Debt (Delayed Draw)	N/A	12.25% (PIK)		2/7/2030	566	564	455	0.05	%
Midwest Eye Services, LLC	(6)	First Lien Debt	S + 4.50%	8.35	%	8/20/2027	8,814	8,792	8,788	1.02	%
Promptcare Infusion Buyer, Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.95	%	9/1/2027	1,412	1,412	1,412	0.16	%
Promptcare Infusion Buyer, Inc.	(6) (9)	First Lien Debt	S + 6.00%	9.95	%	9/1/2027	8,015	8,012	8,015	0.93	%
Promptcare Infusion Buyer, Inc.	(6) (9)	First Lien Debt (Delayed Draw)	S + 6.00%	9.95	%	9/1/2027	1,249	1,249	1,249	0.14	%
QHR Health, LLC	(6) (12)	First Lien Debt	S + 5.25%	9.02	%	5/28/2027	7,503	7,479	7,473	0.86	%
QHR Health, LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.02	%	5/28/2027	3,174	3,174	3,162	0.37	%
QHR Health, LLC	(6) (12)	First Lien Debt	S + 5.25%	9.02	%	5/28/2027	3,174	3,157	3,162	0.37	%
Real Chemistry Intermediate III, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	4/12/2032	3,288	2,196	2,183	0.25	%
Real Chemistry Intermediate III, Inc.	(11) (12)	Revolving Loan	S + 4.50%	8.20	%	4/12/2032	1,780	(8)	(11)	—	%
Real Chemistry Intermediate III, Inc.	(6)	First Lien Debt	S + 4.50%	8.20	%	4/12/2032	7,397	7,365	7,352	0.85	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6) (12)	First Lien Debt	S + 6.25%	10.02	%	9/19/2028	7,713	7,599	7,463	0.86	%
Sandlot Buyer, LLC (Prime Time Healthcare)	(6) (12)	First Lien Debt	S + 6.25%	10.02	%	9/19/2028	9,058	8,960	8,765	1.01	%
Smile Brands Inc.	(12)	Subordinated Debt	S + 8.50%	12.28% (PIK)		4/12/2028	13,041	13,041	8,103	0.94	%
Swoop Intermediate III, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	4/12/2032	4,928	(11)	49	0.01	%
Swoop Intermediate III, Inc.	(11) (12)	Revolving Loan	S + 4.50%	8.17	%	4/12/2032	1,776	(8)	18	—	%
Swoop Intermediate III, Inc.	(12)	First Lien Debt	S + 4.50%	8.17	%	4/12/2032	6,981	6,950	7,051	0.82	%
TBRS, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	11/24/2031	1,074	(4)	(21)	—	%


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)
TBRS, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	8.42	%	11/22/2030	1,406	(11)	(27)	—	%
TBRS, Inc.	(6) (9) (12)	First Lien Debt	S + 4.75%	8.42	%	11/24/2031	9,127	9,060	8,949	1.04	%
Tidi Legacy Products, Inc.	(6) (9) (12)	First Lien Debt	S + 4.50%	8.17	%	12/19/2029	15,173	15,073	15,173	1.76	%
Tidi Legacy Products, Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	12/19/2029	4,064	4,064	4,064	0.47	%
VMG Holdings LLC (VMG Health)	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	4/16/2030	1,127	1,118	1,119	0.13	%
VMG Holdings LLC (VMG Health)	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	4/16/2030	15,693	15,578	15,574	1.80	%
Wellspring Pharmaceutical Corporation	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	8/22/2028	7,220	7,191	7,162	0.83	%
Wellspring Pharmaceutical Corporation	(6)	First Lien Debt	S + 5.00%	8.70	%	8/22/2028	3,091	3,062	3,066	0.35	%
Wellspring Pharmaceutical Corporation	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	8/22/2028	1,536	1,530	1,523	0.18	%
Wellspring Pharmaceutical Corporation	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	8/22/2028	2,528	2,523	2,508	0.29	%
Wellspring Pharmaceutical Corporation	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	8/22/2028	1,218	1,205	1,208	0.14	%
YI, LLC (Young Innovations)	(6) (9) (12)	First Lien Debt	S + 5.75%	9.43	%	12/3/2029	16,179	16,077	15,882	1.84	%
Total Healthcare & Pharmaceuticals								365,878	353,435	40.93	%

High Tech Industries
Alta Buyer, LLC	(11) (12)	Revolving Loan	S + 4.50%	8.20	%	2/18/2033	2,209	(8)	(21)	—	%
Alta Buyer, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.20	%	2/18/2033	17,500	17,437	17,330	2.00	%
Arctiq, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	2/3/2032	1,315	—	(6)	—	%
Arctiq, Inc.	(6)	First Lien Debt	S + 4.75%	8.42	%	2/3/2032	8,685	8,647	8,645	1.00	%
Eliassen Group, LLC	(6) (9) (12)	First Lien Debt	S + 5.75%	9.45	%	4/14/2028	11,794	11,748	11,547	1.33	%
Eliassen Group, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.45	%	4/14/2028	849	849	831	0.10	%
Emburse, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.95	%	5/28/2032	13	—	—	—	%
Emburse, Inc.	(9) (11) (12)	Revolving Loan	S + 4.25%	7.95	%	5/28/2032	14	—	—	—	%
Emburse, Inc.	(9) (12)	First Lien Debt	S + 4.25%	7.95	%	5/28/2032	73	73	73	0.01	%
Exterro, Inc.	(6)	First Lien Debt	S + 5.25%	8.92	%	6/1/2027	9,435	9,416	9,311	1.08	%
GNX HBS PARENT, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	10/1/2031	1,481	—	(23)	—	%
GNX HBS PARENT, LLC	(6)	First Lien Debt	S + 4.75%	8.45	%	10/1/2031	2,512	2,501	2,474	0.29	%
Infobase Acquisition, Inc.	(6)	First Lien Debt	S + 5.50%	9.35	%	6/14/2028	3,973	3,957	3,973	0.46	%
Prosci, Inc.	(6)	First Lien Debt	S + 4.50%	8.27	%	11/18/2030	4,733	4,728	4,714	0.54	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60% (Cash) 1.75% (PIK)		4/16/2029	4,227	4,223	3,805	0.44	%
Revalize Inc. (f/k/a AQ Holdco Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60% (Cash) 1.75% (PIK)		4/16/2029	1,086	1,084	977	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)
Revalize Inc. (f/k/a AQ Holdco Inc.)	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60% (Cash) 1.75% (PIK)		4/16/2029	241	241	217	0.03	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (12)	First Lien Debt	S + 4.50%	8.20	%	9/30/2031	676	671	664	0.08	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	9/30/2031	236	8	4	—	%
Ridge Trail US Bidco, Inc. (Options IT)	(9) (11) (12)	Revolving Loan	S + 4.50%	8.20	%	3/31/2031	79	21	20	—	%
Smart Wave Technologies, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.40	%	12/30/2031	1,662	1,009	1,009	0.12	%
Smart Wave Technologies, Inc.	(12)	First Lien Debt	S + 4.75%	4.40% (Cash) 4.00% (PIK)		12/30/2031	3,116	3,116	3,116	0.36	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt (Delayed Draw)	N/A	14.50% (PIK)		6/30/2028	2,434	2,434	2,409	0.28	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt	N/A	14.50% (PIK)		6/30/2028	2,125	2,111	2,103	0.24	%
Solve Industrial Motion Group LLC	(12)	Subordinated Debt	N/A	14.50% (PIK)		6/30/2028	915	908	906	0.10	%
VALIDITY INC	(12)	First Lien Debt	S + 5.25%	8.90	%	4/12/2032	99	98	98	0.01	%
Venture Buyer, LLC (Velosio)	(6) (9)	First Lien Debt	S + 5.25%	8.91	%	3/1/2030	6,123	6,080	6,123	0.71	%
Venture Buyer, LLC (Velosio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	8.91	%	3/1/2030	222	222	222	0.03	%
Total High Tech Industries								81,574	80,521	9.32	%

Hotel, Game & Leisure
Davidson Hotel Company LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	10/31/2031	1,052	93	105	0.01	%
Davidson Hotel Company LLC	(6)	First Lien Debt	S + 5.00%	8.67	%	10/31/2031	3,156	3,130	3,188	0.37	%
Total Hotel, Game & Leisure								3,223	3,293	0.38	%

Media: Advertising, Printing & Publishing
Calienger Acquisition, L.L.C. (Wpromote, LLC)	(6) (12)	First Lien Debt	S + 5.75%	9.45	%	10/23/2028	4,279	4,237	4,211	0.49	%
Tinuiti Inc.	(9) (12)	First Lien Debt	S + 2.63%	6.42% (Cash) 3.13% (PIK)		12/11/2028	2,955	2,952	2,806	0.32	%
Tinuiti Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 2.63%	6.42% (Cash) 3.13% (PIK)		12/11/2028	1,932	1,932	1,834	0.21	%
Tinuiti Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 2.63%	6.42% (Cash) 3.13% (PIK)		12/11/2028	9,890	9,890	9,390	1.09	%
Total Media: Advertising, Printing & Publishing								19,011	18,241	2.11	%


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)
Media: Diversified & Production
BroadcastMed Holdco, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.75% (PIK)		11/12/2027	3,895	3,863	3,780	0.44	%
Corporate Visions, Inc.	(12)	First Lien Debt	S + 6.00%	9.67% (PIK)		2/28/2029	3,926	3,046	3,023	0.35	%
Corporate Visions, Inc.	(12)	First Lien Debt	N/A	15.00% (PIK)		2/28/2029	208	208	160	0.02	%
Corporate Visions, Inc.	(12) (16)	First Lien Debt	S + 6.00%	9.67% (PIK)		2/28/2029	820	—	—	—	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt	S + 6.00%	9.67	%	12/9/2026	8,246	8,247	6,198	0.71	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.67	%	12/9/2026	2,937	2,937	2,208	0.26	%
MSM Acquisitions, Inc. (Spectrio)	(9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.67	%	12/9/2026	448	448	337	0.04	%
Total Media: Diversified & Production								18,749	15,706	1.82	%

Services: Business
ALKU Intermediate Holdings, LLC	(12)	First Lien Debt	S + 6.25%	9.95	%	5/23/2029	4,417	4,363	4,373	0.51	%
All4 Buyer, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	1/23/2032	2,383	871	860	0.10	%
All4 Buyer, LLC	(6)	First Lien Debt	S + 4.50%	8.17	%	1/23/2032	2,833	2,809	2,808	0.32	%
Archer Acquisition, LLC (ARMstrong)	(6)	First Lien Debt	S + 4.75%	8.55	%	10/8/2029	6,764	6,698	6,712	0.78	%
Archer Acquisition, LLC (ARMstrong)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.55	%	10/8/2029	936	626	624	0.07	%
Astra Service Partners, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	11/26/2032	25	5	5	—	%
Astra Service Partners, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.20	%	11/26/2032	75	75	75	0.01	%
Bounteous, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	8/2/2029	2,704	2,697	2,704	0.31	%
Bounteous, Inc.	(6) (12)	First Lien Debt	S + 4.50%	8.17	%	8/2/2029	5,224	5,210	5,224	0.60	%
Bounteous, Inc.	(12)	First Lien Debt	S + 4.50%	8.17	%	8/2/2029	2,138	2,132	2,138	0.25	%
Bounteous, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	8/2/2029	3,496	3,496	3,496	0.40	%
Bullhorn, Inc.	(6) (9) (12)	First Lien Debt	S + 5.00%	8.67	%	10/1/2029	13,671	13,653	13,457	1.56	%
Caldwell & Gregory LLC	(12)	Subordinated Debt	S + 6.25%	9.95% (Cash) 2.50% (PIK)		3/31/2031	1,160	1,144	1,159	0.13	%
CDL Marketing Group, LLC (Career Now)	(12) (16)	Subordinated Debt	N/A	13.00% (PIK)		3/30/2027	3,990	3,966	380	0.04	%
Certus NDT Group Buyer, LLC	(12)	Subordinated Debt	N/A	9.00% (Cash) 3.00% (PIK)		2/11/2033	2,008	1,970	1,979	0.23	%
Cornerstone Advisors of Arizona, LLC	(9) (12)	First Lien Debt	S + 4.75%	8.45	%	5/13/2032	100	99	98	0.01	%
CPL Consultants, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.92	%	2/17/2032	4,317	54	34	—	%
CPL Consultants, LLC	(6)	First Lien Debt	S + 4.25%	7.92	%	2/17/2032	1,349	1,343	1,343	0.16	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Spread Above Reference Rate (3)	Interest Rate (3)		Maturity Date	Par Amount	Amortized Cost	Fair Value (4)	% of Net Assets (5)
DH United Holdings, LLC (D&H United Fueling Solutions)	(6) (12)	First Lien Debt	S + 5.00%	8.84	%	9/15/2028	7,320	7,254	7,182	0.83	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.84	%	9/15/2028	2,330	2,321	2,286	0.26	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	8.84	%	9/15/2028	1,535	1,532	1,506	0.17	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(6) (12)	First Lien Debt	S + 5.00%	8.84	%	9/15/2028	3,387	3,351	3,323	0.38	%
DH United Holdings, LLC (D&H United Fueling Solutions)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.84	%	9/15/2028	5,083	4,270	4,186	0.48	%
Element 78 Partners, LLC (E78)	(6) (12)	First Lien Debt	S + 5.50%	9.27	%	12/1/2027	3,953	3,940	3,953	0.46	%
Element 78 Partners, LLC (E78)	(6) (12)	First Lien Debt	S + 5.50%	9.27	%	12/1/2027	1,015	1,011	1,015	0.12	%
Element 78 Partners, LLC (E78)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.27	%	12/1/2027	15,233	—	—	—	%
Element 78 Partners, LLC (E78)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.27	%	12/1/2027	2,972	2,962	2,972	0.34	%
Element 78 Partners, LLC (E78)	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.27	%	12/1/2027	2,595	2,310	2,310	0.27	%
Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC)	(6) (9) (12)	First Lien Debt	S + 5.75%	9.60	%	12/23/2026	9,575	9,540	9,553	1.11	%
Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC)	(9) (12)	First Lien Debt	S + 5.75%	9.60	%	12/23/2026	6,638	6,598	6,623	0.77	%
Env Automation Acquisition, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	12/8/2031	33	5	5	—	%
Env Automation Acquisition, LLC	(9) (12)	First Lien Debt	S + 4.50%	8.17	%	12/8/2031	67	67	67	0.01	%
Esquire Deposition Solutions, LLC	(12)	Subordinated Debt	N/A	14.00% (PIK)		6/30/2029	2,136	2,107	2,108	0.24	%
Gabriel Partners, LLC	(12)	First Lien Debt	S + 6.25%	4.62% (Cash) 5.45% (PIK)		5/17/2027	690	690	682	0.08	%
Gabriel Partners, LLC	(6) (9) (12)	First Lien Debt	S + 6.25%	4.62% (Cash) 5.45% (PIK)		5/17/2027	9,462	9,462	9,344	1.08	%
Gabriel Partners, LLC	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.25%	4.62% (Cash) 5.45% (PIK)		5/17/2027	1,576	1,576	1,557	0.18	%
Gabriel Partners, LLC	(6) (9) (12)	First Lien Debt	S + 6.25%	4.62% (Cash) 5.45% (PIK)		5/17/2027	3,906	3,903	3,858	0.45	%
KENG Acquisition, Inc. (Engage PEO)	(6) (9) (12)	First Lien Debt	S + 4.50%	8.17	%	8/1/2029	9,449	9,359	9,450	1.09	%
KENG Acquisition, Inc. (Engage PEO)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	8/1/2029	9,195	9,184	9,196	1.06	%
KENG Acquisition, Inc. (Engage PEO)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	8/1/2029	1,069	1,067	1,069	0.12	%
KRIV Acquisition Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	7/31/2031	4,884	—	(28)	—	%
KRIV Acquisition Inc.	(11) (12)	Revolving Loan	S + 4.75%	8.45	%	7/31/2031	444	187	185	0.02	%
KRIV Acquisition, Inc. (Riveron)	(6) (12)	First Lien Debt	S + 4.75%	8.45	%	7/31/2031	12,100	11,864	12,030	1.39	%
LRN Corporation (Lion Merger Sub, Inc.)	(9) (12)	First Lien Debt	S + 5.25%	8.93	%	12/17/2027	7,150	7,150	7,106	0.82	%
LRN Corporation (Lion Merger Sub, Inc.)	(9) (12)	First Lien Debt	S + 5.25%	8.93	%	12/17/2027	7,128	7,128	7,085	0.82	%


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)
M&S Holdings Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.44	%	12/23/2032	769	—	(2)	—	%
M&S Holdings Buyer, Inc.	(6)	First Lien Debt	S + 4.75%	8.44	%	12/23/2032	4,231	4,211	4,217	0.49	%
Olympus US Bidco LLC (Phaidon International)	(6) (10) (12)	First Lien Debt	S + 5.50%	9.27	%	8/22/2029	13,031	12,962	12,486	1.44	%
Output Services Group, Inc.	(12)	First Lien Debt	S + 8.00%	12.16	%	5/30/2028	155	155	155	0.02	%
Output Services Group, Inc.	(12)	First Lien Debt	S + 6.25%	10.41	%	11/30/2028	837	837	837	0.10	%
PN Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	7/31/2031	1,111	—	(28)	—	%
PN Buyer, Inc.	(6)	First Lien Debt	S + 4.50%	8.17	%	7/31/2031	3,879	3,862	3,781	0.44	%
RailPros Parent, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.91	%	5/24/2032	21	6	6	—	%
RailPros Parent, LLC	(9) (11) (12)	Revolving Loan	S + 4.25%	7.91	%	5/24/2032	11	—	—	—	%
RailPros Parent, LLC	(9) (12)	First Lien Debt	S + 4.25%	7.91	%	5/24/2032	68	67	68	0.01	%
Redwood Services Group, LLC (Evergreen Services Group)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	6/15/2029	2,953	2,401	2,411	0.28	%
Redwood Services Group, LLC (Evergreen Services Group)	(6) (9) (12)	First Lien Debt	S + 5.00%	8.70	%	6/15/2029	13,991	13,848	13,991	1.62	%
Redwood Services Group, LLC (Evergreen Services Group)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	6/15/2029	2,798	2,783	2,798	0.32	%
Safety Infrastructure Services Intermediate LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	7/21/2028	2,826	1,155	1,091	0.13	%
Safety Infrastructure Services Intermediate LLC	(6)	First Lien Debt	S + 5.00%	8.70	%	7/21/2028	7,014	6,971	6,845	0.79	%
Sagebrush Buyer, LLC (Province)	(6) (12)	First Lien Debt	S + 4.75%	8.42	%	7/1/2030	4,838	4,810	4,800	0.56	%
Sagebrush Buyer, LLC (Province)	(6) (12)	First Lien Debt	S + 4.75%	8.42	%	7/1/2030	4,473	4,439	4,438	0.51	%
Sagebrush Buyer, LLC (Province)	(6) (12)	First Lien Debt	S + 4.75%	8.42	%	7/1/2030	3,024	3,006	3,000	0.35	%
Scaled Agile, Inc.	(9) (12)	First Lien Debt	S + 5.50%	5.55% (Cash) 3.75% (PIK)		12/15/2028	8,083	8,049	6,125	0.71	%
Scaled Agile, Inc.	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	5.55% (Cash) 3.75% (PIK)		12/15/2028	396	396	300	0.03	%
Sentinel Technologies, Inc	(6)	First Lien Debt	S + 4.50%	8.16	%	11/3/2031	4,988	4,965	4,988	0.58	%
Syndigo LLC	(11) (12)	Revolving Loan	S + 5.00%	8.67	%	9/2/2032	592	139	121	0.01	%
Syndigo LLC	(6)	First Lien Debt	S + 5.00%	8.67	%	9/2/2032	4,397	4,376	4,237	0.49	%
Tau Buyer, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	5.70% (Cash) 2.50% (PIK)		2/2/2032	3,442	2,262	2,208	0.26	%
Tau Buyer, LLC	(9) (11) (12)	Revolving Loan	S + 4.50%	8.20	%	2/2/2032	1,720	536	516	0.06	%
Tau Buyer, LLC	(6) (9) (12)	First Lien Debt	S + 4.50%	5.70% (Cash) 2.50% (PIK)		2/2/2032	9,916	9,832	9,719	1.12	%
Thompson Safety LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	6/25/2032	91	14	13	—	%
Thompson Safety LLC	(11) (12)	Revolving Loan	P + 4.00%	10.75	%	6/25/2032	9	1	1	—	%
Transit Buyer, LLC (Propark Mobility)	(6)	First Lien Debt	S + 4.75%	8.43	%	1/31/2029	6,669	6,600	6,665	0.77	%
Transit Buyer, LLC (Propark Mobility)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.43	%	1/31/2029	3,069	3,039	3,068	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)
Transit Buyer, LLC (Propark Mobility)	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.43	%	1/31/2029	10,045	10,033	10,039	1.16	%
Trilon Group, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.17	%	5/25/2029	27,407	27,294	27,299	3.16	%
Trilon Group, LLC	(12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	5/25/2029	1,851	1,845	1,844	0.21	%
TSS Buyer, LLC (Technical Safety Services)	(6)	First Lien Debt	S + 5.00%	8.70	%	6/22/2029	6,617	6,583	6,585	0.76	%
TSS Buyer, LLC (Technical Safety Services)	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	6/22/2029	6,291	6,246	6,260	0.72	%
TSS Buyer, LLC (Technical Safety Services)	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	6/22/2029	1,847	1,830	1,838	0.21	%
Victors CCC Buyer LLC (CrossCountry Consulting)	(6) (9)	First Lien Debt	S + 4.75%	8.42	%	6/1/2029	7,988	7,900	7,950	0.92	%
Victors CCC Buyer LLC (CrossCountry Consulting)	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	6/1/2029	820	816	816	0.09	%
VRC Companies, LLC (Vital Records Control)	(6) (9)	First Lien Debt	S + 4.75%	8.42	%	6/29/2027	4,477	4,464	4,467	0.52	%
VRC Companies, LLC (Vital Records Control)	(6) (9)	First Lien Debt	S + 5.50%	9.19	%	6/29/2027	326	325	326	0.04	%
Total Services: Business								329,107	322,371	37.27	%

Services: Consumer
360 Holdco, Inc. (360 Training)	(6)	First Lien Debt	S + 4.75%	8.42	%	8/2/2028	3,393	3,374	3,353	0.39	%
360 Holdco, Inc. (360 Training)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	8/2/2028	3,093	377	341	0.04	%
ADPD Holdings LLC (NearU)	(9) (12)	First Lien Debt	S + 6.00%	5.03% (Cash) 5.00% (PIK)		8/16/2028	9,973	9,978	9,281	1.07	%
AMS Parent, LLC (All My Sons)	(6) (12)	First Lien Debt	S + 4.75%	8.71	%	10/25/2028	5,133	5,112	5,132	0.59	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.68	%	10/24/2030	153	152	154	0.02	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	10/24/2030	153	153	154	0.02	%
Apex Service Partners, LLC	(9) (11) (12)	Revolving Loan	S + 5.00%	8.69	%	10/24/2029	55	25	26	—	%
Apex Service Partners, LLC	(9) (12)	First Lien Debt	S + 5.00%	8.67	%	10/24/2030	625	621	630	0.07	%
Canopy Service Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	2/28/2033	1,375	96	88	0.01	%
Canopy Service Partners, LLC	(6)	First Lien Debt	S + 4.50%	8.20	%	2/28/2033	1,625	1,615	1,615	0.19	%
Columbia Home Services LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	12.00	%	11/27/2031	22	—	(1)	—	%
Columbia Home Services LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		11/27/2031	78	77	74	0.01	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	917	902	894	0.10	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(12)	Subordinated Debt (Delayed Draw)	N/A	9.00% (Cash) 4.00% (PIK)		1/28/2030	700	695	683	0.08	%
Excel Fitness Consolidator LLC	(6)	First Lien Debt	S + 4.75%	8.45	%	4/29/2030	10,194	10,133	10,064	1.16	%


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)
Excel Fitness Consolidator LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	4/29/2030	1,897	(10)	(24)	—	%
Legacy Service Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	11/10/2031	100	—	(1)	—	%
Legacy Service Partners, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	13.25% (PIK)		11/10/2032	47	37	37	—	%
Legacy Service Partners, LLC	(12)	Subordinated Debt	N/A	13.25% (PIK)		11/10/2032	56	55	55	0.01	%
Legacy Service Partners, LLC	(6) (12)	First Lien Debt	S + 4.50%	8.20	%	11/10/2031	17,503	17,448	17,394	2.01	%
Liberty Buyer, Inc. (Liberty Group)	(9) (12)	First Lien Debt	S + 5.75%	9.49	%	6/15/2028	3,839	3,825	3,695	0.43	%
Liberty Buyer, Inc. (Liberty Group)	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.49	%	6/15/2028	289	289	278	0.03	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 3.00% (PIK)		3/18/2029	644	644	550	0.06	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		3/18/2029	649	649	554	0.06	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	10.00% (Cash) 2.00% (PIK)		3/18/2029	738	730	630	0.07	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	2,696	2,672	2,301	0.27	%
National Renovations LLC (Repipe Specialists)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 1.00% (PIK)		3/18/2029	233	233	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	5,068	4,286	4,218	0.49	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	4,537	4,537	4,476	0.52	%
North Haven Fairway Buyer, LLC (Fairway Lawns)	(12)	Subordinated Debt (Delayed Draw)	N/A	8.00% (Cash) 3.50% (PIK)		5/17/2029	6,546	6,546	6,457	0.75	%
North Haven Spartan US Holdco LLC	(6)	First Lien Debt	S + 5.75%	9.42	%	6/8/2026	2,444	2,444	2,444	0.28	%
North Haven Spartan US Holdco LLC	(6)	First Lien Debt (Delayed Draw)	S + 5.75%	9.42	%	6/8/2026	212	212	212	0.02	%
North Haven Spartan US Holdco LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.42	%	6/8/2026	3,240	3,237	3,240	0.37	%
Perennial Services Group, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	12/23/2032	5,288	2,350	2,255	0.26	%
Perennial Services Group, LLC	(6) (9)	First Lien Debt	S + 4.50%	8.20	%	12/23/2032	7,246	7,213	7,116	0.82	%
Yard-Nique, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	9/29/2028	161	—	(1)	—	%
Yard-Nique, Inc.	(6)	First Lien Debt	S + 4.75%	8.45	%	9/29/2028	839	834	834	0.10	%
Total Services: Consumer								91,541	89,407	10.32	%

Sovereign & Public Finance
Renaissance Buyer, LLC (LMI Consulting, LLC)	(6) (12)	First Lien Debt	S + 4.75%	8.44	%	7/18/2028	11,979	11,912	11,979	1.39	%
Total Sovereign & Public Finance								11,912	11,979	1.39	%


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)
Telecommunications
BCM One, Inc.	(6)	First Lien Debt	S + 4.50%	8.27	%	11/17/2027	5,633	5,633	5,633	0.65	%
BCM One, Inc.	(6)	First Lien Debt (Delayed Draw)	S + 4.50%	8.27	%	11/17/2027	1,785	1,785	1,785	0.21	%
MBS Holdings, Inc.	(9) (12)	First Lien Debt	S + 5.00%	8.77	%	4/16/2027	1,035	1,029	1,035	0.12	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.00%	8.77	%	4/16/2027	1,787	1,777	1,787	0.21	%
MBS Holdings, Inc.	(6) (9) (12)	First Lien Debt	S + 5.00%	8.77	%	4/16/2027	9,822	9,806	9,822	1.14	%
MBS Holdings, Inc.	(6) (9)	First Lien Debt	S + 5.00%	8.77	%	4/16/2027	1,285	1,277	1,285	0.15	%
Mobile Communications America, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.40	%	10/16/2029	1,653	209	199	0.02	%
Mobile Communications America, Inc.	(6) (12)	First Lien Debt	S + 4.75%	8.40	%	10/16/2029	18,089	17,932	17,982	2.08	%
Mobile Communications America, Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.40	%	10/16/2029	4,259	4,240	4,234	0.49	%
Sapphire Telecom, Inc.	(6) (12)	First Lien Debt	S + 5.00%	8.70	%	6/27/2029	18,799	18,693	18,794	2.17	%
Tyto Athene, LLC	(6) (12)	First Lien Debt	S + 4.75%	8.56	%	4/3/2028	7,125	7,099	6,791	0.79	%
Total Telecommunications								69,480	69,347	8.03	%

Transportation: Cargo
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12) (16)	First Lien Debt	S + 2.50%	6.31% (Cash) 4.25% (PIK)		2/3/2028	264	262	183	0.02	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12) (16)	First Lien Debt	S + 2.50%	6.31% (Cash) 4.25% (PIK)		2/3/2028	918	909	636	0.07	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12) (16)	First Lien Debt	S + 2.50%	6.31% (Cash) 4.25% (PIK)		2/3/2028	186	184	129	0.01	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12) (16)	First Lien Debt	S + 2.50%	6.31% (Cash) 4.25% (PIK)		2/3/2028	4,481	4,439	3,105	0.36	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (12) (16)	First Lien Debt	S + 2.50%	6.31% (Cash) 4.25%(PIK)		2/3/2028	1,395	1,368	966	0.11	%
A&R Logistics Holdings, Inc. (Quantix SCS, LLC)	(9) (11) (12)	Revolving Loan	S + 6.75%	13.50% (PIK)		6/29/2026	269	13	13	—	%
Armstrong Midco, LLC (Armstrong Transport Group)	(12)	Subordinated Debt	N/A	15.00% (PIK)		6/30/2027	1,361	1,352	1,341	0.16	%
Armstrong Transport Group, LLC	(12)	Subordinated Debt	N/A	7.00% (Cash) 7.00% (PIK)		6/30/2027	8,316	8,252	8,195	0.95	%
FSK Pallet Holding Corp. (Kamps Pallets)	(6) (12)	First Lien Debt	S + 6.25%	10.07	%	12/23/2026	9,077	9,046	8,963	1.04	%
Kenco PPC Buyer LLC	(6) (12)	First Lien Debt	S + 4.25%	7.92	%	11/15/2029	21,604	21,488	21,511	2.49	%
Kenco PPC Buyer LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.92	%	11/15/2029	3,572	3,554	3,557	0.41	%
Kenco PPC Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	8.03	%	11/15/2029	4,111	(28)	(18)	—	%
R1 Holdings, LLC (RoadOne)	(12)	Subordinated Debt	N/A	8.75% (Cash) 5.00% (PIK)		6/30/2029	5,265	5,131	5,109	0.59	%
SEKO Global Logistics Network, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 10.50%	4.86% (Cash) 9.50% (PIK)		11/27/2029	73	—	—	—	%


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)
SEKO Global Logistics Network, LLC	(9) (12)	First Lien Debt	S + 10.50%	4.86% (Cash) 9.50% (PIK)		11/27/2029	134	134	134	0.02	%
SEKO Global Logistics Network, LLC	(12)	First Lien Debt	S + 7.00%	10.82% (PIK)		11/27/2029	483	477	483	0.06	%
SEKO Global Logistics Network, LLC	(12)	First Lien Debt	S + 7.00%	10.82% (PIK)		5/27/2030	1,794	1,794	1,337	0.15	%
TI Acquisition NC, LLC	(6)	First Lien Debt	S + 4.25%	7.99	%	3/19/2027	2,715	2,694	2,715	0.31	%
Total Transportation: Cargo								61,069	58,359	6.75	%

Transportation: Consumer
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)	(6)	First Lien Debt	S + 4.75%	8.42	%	2/14/2031	10,454	10,379	10,203	1.18	%
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	2/14/2031	3,040	—	(73)	(0.01)	%
Total Transportation: Consumer								10,379	10,130	1.17	%

Utilities: Electric
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (12)	First Lien Debt	S + 4.75%	8.42	%	8/27/2031	10,329	10,247	10,353	1.20	%
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	8/27/2031	2,615	(10)	6	—	%
CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc)	(9) (11) (12)	Revolving Loan	S + 4.75%	8.42	%	8/27/2031	1,925	(15)	4	—	%
Force Electrical Buyerco, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	10/21/2032	63	5	4	—	%
Force Electrical Buyerco, LLC	(12)	First Lien Debt	S + 4.50%	8.17	%	10/21/2032	37	37	37	—	%
Industrial Air Flow Dynamics, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.70	%	8/14/2030	21	—	—	—	%
Industrial Air Flow Dynamics, Inc.	(9) (12)	First Lien Debt	S + 5.00%	8.70	%	8/14/2030	79	78	77	0.01	%
Low Voltage Holdings Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.45	%	4/28/2032	416	—	—	—	%
Low Voltage Holdings Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	8.45	%	4/28/2032	352	(1)	—	—	%
Low Voltage Holdings Inc.	(6) (9) (12)	First Lien Debt	S + 4.75%	8.45	%	4/28/2032	2,683	2,675	2,683	0.31	%
Pinnacle Supply Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 6.25%	10.01	%	4/3/2030	1,636	—	(73)	(0.01	%)
Pinnacle Supply Partners, LLC	(6) (12)	First Lien Debt	S + 6.25%	10.01	%	4/3/2030	6,196	6,119	5,919	0.68	%
Pinnacle Supply Partners, LLC	(12)	First Lien Debt (Delayed Draw)	S +6.25%	10.01	%	4/3/2030	1,967	1,962	1,879	0.22	%
RMS Energy Borrower LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.20	%	9/30/2032	1,231	508	494	0.06	%
RMS Energy Borrower LLC	(6)	First Lien Debt	S + 4.50%	8.20	%	9/30/2032	6,735	6,705	6,643	0.77	%
Total Utilities: Electric								28,310	28,026	3.24	%


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)
Utilities: Water
USA Water Intermediate Holdings, LLC	(6)	First Lien Debt	S + 4.75%	8.42	%	2/21/2031	7,739	7,684		7,699		0.89	%
USA Water Intermediate Holdings, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	2/21/2031	3,020	2,449		2,434		0.28	%
Total Utilities: Water								10,133		10,133		1.17	%

Wholesale
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.50%	9.32	%	1/19/2029	1,951	1,930		1,919		0.22	%
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)	(6)	First Lien Debt	S + 5.50%	9.32	%	1/19/2029	11,475	11,366		11,284		1.31	%
ISG Enterprises, LLC (Industrial Service Group)	(6) (12)	First Lien Debt	S + 5.75%	9.42	%	12/7/2028	6,377	6,313		6,162		0.71	%
ISG Enterprises, LLC (Industrial Service Group)	(6)	First Lien Debt (Delayed Draw)	S + 5.75%	9.42	%	12/7/2028	3,320	3,314		3,209		0.37	%
Total Wholesale								22,923		22,574		2.61	%

Total Debt Investments								$	1,964,471	$	1,919,889	222.18	%


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) (10) (12) (15)	Class A-1 Units	9/1/2023	1,530,000	$	1,530	$	2,273	0.26	%
Total Aerospace & Defense					1,530		2,273		0.26	%

Automotive
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	A-2 Units	12/31/2024	998,311	402		—		—	%
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	Class B Unit	12/31/2024	1,836,884	404		—		—	%
Buckeye Group Holdings, L.P. (JEGS Automotive)	(8) (9) (12)	C Units	12/31/2024	998,311	—		—		—	%
Covercraft Parent III, Inc.	(8) (12)	Covercraft Equity	8/20/2021	768	768		—		—	%
HBB Parent, LLC (High Bar Brands)	(8) (12)	Class A Units	12/19/2023	303,000	303		252		0.03	%
Pegasus Aggregator Holdings LP (S&S Truck Parts)	(8) (12)	Pegasus Units	12/31/2024	7	668		614		0.07	%
Phoenix Topco Holdings LP (S&S Truck Parts)	(8) (12)	Preferred units	6/3/2024	1,000	974		1,276		0.15	%
Phoenix Topco Holdings LP (S&S Truck Parts)	(8) (12)	Warrant	6/3/2024	1,000	1		—		—	%
Total Automotive					3,520		2,142		0.25	%

Beverage, Food & Tobacco
Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(8) (12)	Common	7/13/2022	15,373	2,008		1,689		0.19	%
Lonestar Polaris Topco, LP	(8) (12)	Class A Units	2/6/2026	323,130	323		323		0.04	%
VCP Tech24 Co-Invest Aggregator LP (Tech24)	(8) (12) (17)	Company Unit	10/5/2023	954	954		808		0.09	%
WPP Fairway Aggregator B, L.P (Fresh Edge)	(8) (12)	Class B Common Units	10/3/2022	698	5		—		—	%
WPP Fairway Aggregator B, L.P (Fresh Edge)	(8) (12)	Class A Preferred Units	10/3/2022	698	698		326		0.04	%
Total Beverage, Food & Tobacco					3,988		3,146		0.36	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Capital Equipment
ATL GSE Holdings, LP	(8) (12)	Class A Units	12/16/2025	63	$	63	$	70	0.01	%
CMG HoldCo, LLC (Crete)	(8) (12)	Equity Co-Investment	5/19/2022	24	249		492		0.06	%
EFC Holdings, LLC (EFC International)	(8) (12)	Class A Common Units	3/1/2023	148	60		10		—	%
EFC Holdings, LLC (EFC International)	(8) (12)	Class A Preferred Units	3/1/2023	148	148		189		0.02	%
E-Tech Holdings Partnership, L.P. (E-Technologies Group, Inc.)	(8) (12)	Partner Interests	5/22/2024	1,000,000	1,000		665		0.08	%
Lapmaster Co-Investment, LLC (Precision Surfacing Solutions)	(8) (12)	Common Units	10/5/2022	3,750,000	3,750		7,575		0.87	%
Total Capital Equipment					5,270		9,001		1.04	%

Chemicals, Plastics & Rubber
New Spartech Holdings LLC	(8) (12)	Common Stock	6/6/2025	314,809	1,595		—		—	%
Total Chemicals, Plastics & Rubber					1,595		—		—	%

Construction & Building
GreyLion TGNL Holdings	(8) (11) (12) (17)	Limited Partnership Interests	5/2/2025	846,770	865		1,455		0.17	%
Oceansound Partners Co-Invest II, LP (Gannett Fleming)	(8) (12)	Series F interests	5/26/2023	1,272,139	1,272		1,949		0.22	%
OSP Gannett Aggregator, LP (Gannett Fleming)	(8) (10) (12) (15)	Class A Interests	12/20/2022	894,607	895		1,371		0.16	%
RPI Investments LP (Rose Paving)	(8) (12)	Class A Units	11/27/2024	690	100		72		0.01	%
Total Construction & Building					3,132		4,847		0.56	%

Consumer Goods: Durable
LH Equity Investors, L.P.	(8) (11) (12) (17)	Limited Partnership Interest	9/3/2025	1,443,750	1,444		2,043		0.24	%
Total Consumer Goods: Durable					1,444		2,043		0.24	%

Consumer Goods: Non-durable
FBG Holdings LLC	(8) (12)	Common Units	8/8/2025	66	512		309		0.04	%
Ultima Health Holdings, LLC	(8) (12)	Preferred Units	9/12/2022	15	170		354		0.04	%
Total Consumer Goods: Non-durable					682		663		0.08	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Containers, Packaging & Glass
Conversion Holdings, L.P. (Specialized Packaging Group)	(8) (10) (12)	Class A Units	12/17/2020	147,708	$	148	$	142	0.02	%
Oliver Investors, LP (Oliver Packaging)	(8) (12)	Class D Units	4/22/2025	555	28		31		—	%
Oliver Investors, LP (Oliver Packaging)	(8) (12)	Common Equity	7/6/2022	11,916	1,131		162		0.02	%
Total Containers, Packaging & Glass					1,307		335		0.04	%

Healthcare & Pharmaceuticals
HMA Equity, LP (Health Management Associates)	(8) (12)	Class A Common Units	3/30/2023	399,904	400		601		0.07	%
MDC Group Holdings, LP (Mosaic Dental)	(8) (12)	Class A2 Units (Common)	2/7/2023	245	245		3		—	%
NP/BF Holdings, L.P.	(8) (12)	Partnership Interests	4/30/2025	1,000	1,000		923		0.11	%
RCP Nats Co-Investment Fund LP	(8) (12) (17)	Limited Partnership Interests	3/17/2025	779,607	782		1,336		0.15	%
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		803		0.09	%
WE Select Fund 3, L.P.	(8) (12) (17)	Partnership Interest	9/10/2025	483,000	495		677		0.08	%
Total Healthcare & Pharmaceuticals					4,379		4,343		0.50	%

High Tech Industries
GNX HBS Holdings, LLC	(8) (12)	Class A Units	10/1/2025	60	60		58		0.01	%
Myriad Investment Holdings, L.P.	(8) (12)	Series B-2 Units	1/6/2026	178,105	158		163		0.02	%
Solve Group Holdings, L.P. (Solve Industrial)	(8) (12)	Solve Industrial Equity	10/4/2022	313	313		289		0.03	%
Three Rivers Co-Investment, L.P.	(8) (12) (17)	Partnership	11/7/2025	500,000	501		500		0.06	%
Total High Tech Industries					1,032		1,010		0.12	%

Media: Diversified & Production
BroadcastMed Holdco, LLC	(8) (12)	Series A-3 Preferred Units	10/4/2022	56,899	853		715		0.08	%
Corporate Visions, Inc.	(8) (12)	Common Class A Units	3/5/2026	15,113,838	—		—		—	%
Corporate Visions, Inc.	(8) (12)	Preferred Equity Units	3/5/2026	329	—		—		—	%
Total Media: Diversified & Production					853		715		0.08	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Services: Business
BayPine Monarch Co-Invest, LP	(8) (12) (17)	Limited Partnership Interests	6/3/2025	100,000	$	101	$	111	0.01	%
Certus NDT Group Holdings, LLC	(8) (12)	Class A Units	2/11/2026	245	245		245		0.03	%
Concord FG Holdings, LP (E78)	(8) (12)	Class A Common Units	12/1/2021	816	496		576		0.07	%
Crimson FLS TopCo, L.P.	(8) (12)	Class A Units	2/18/2026	30,000	3,000		3,000		0.35	%
Geds Equity Investors, LP (Esquire Deposition Services)	(8) (12)	Class A Limited Partnership Units	7/1/2024	2,424	320		263		0.03	%
Harvest Group Topco Holdings, LP	(8) (12)	Class A Common Unit	3/2/2026	3,000	—		—		—	%
Harvest Group Topco Holdings, LP	(8) (12)	Preferred units	3/2/2026	3,000	3,000		3,000		0.35	%
KKEMP Blocked Co-Invest, LP	(8) (12)	Class A Interests	7/15/2025	1,000	1,000		1,127		0.13	%
KRIV Co-Invest Holdings, L.P. (Riveron)	(8) (12) (17)	Class A Units	7/17/2023	790	790		1,104		0.13	%
M&S Group Holdings,LLC	(8) (12)	Common Units	12/23/2025	2,998	300		298		0.03	%
NMS VONA Case Management Acquisition, LP	(8) (12) (17)	Partnership	11/25/2025	2,793	1,500		2,066		0.24	%
NMSEF II Holdings I, L.P.	(8) (12) (17)	Limited Partner Interests	9/29/2025	483,000	485		501		0.06	%
North Haven Terrapin IntermediateCo, LLC (Apex Companies)	(8) (12)	Class A Membership Interests	1/31/2023	1,173	117		156		0.02	%
OSG Topco Holdings, LLC (Output Services Group, Inc.)	(8) (12)	Class A Units	11/30/2023	47,021	833		498		0.06	%
PN Topco L.P.	(8) (12)	Class A Units	7/31/2025	86,080	86		75		0.01	%
Rocket Ultimate LP	(8) (12)	Class A Units	2/19/2026	2,982,000	2,982		2,982		0.34	%
Schill Blocker Agg, LLC	(8) (12) (17)	Limited Partnership Interests	12/12/2025	3,000,000	3,000		3,000		0.34	%
Shoreline CNB Partners Investment, LP (Career Now)	(8) (12)	Common Equity	9/30/2021	624	624		—		—	%
Shoreline CNB Partners Investment, LP (Career Now)	(8) (12)	Series B Limited Partnership Units	10/23/2023	222	22		—		—	%
STech Investors, LP	(8) (12)	Class A Unit	11/3/2025	961	96		99		0.01	%
Uplift Investors Finch Co-Invest Fund, LP	(8) (12) (17)	Interests	3/31/2026	1,000,000	1,000		1,000		0.12	%
Total Services: Business					19,997		20,101		2.33	%


Portfolio Company (1) (2) (7)	Footnotes	Investment	Acquisition Date	Shares/Units	Cost		Fair Value (4)		% of Net Assets (5)
Services: Consumer
CHS Investors, LLC	(8) (12)	Class A Units	5/27/2025	576	$	83	$	56	0.01	%
Entomo Brands Acquisitions, Inc. (Palmetto Exterminators)	(8) (12)	Class A Units	7/31/2023	997,000	1,117		1,288		0.15	%
FS NU Investors, LP (NearU)	(8) (9) (12)	Class A	8/8/2022	2,432	243		105		0.01	%
Legacy Parent Holdings, LLC (Legacy Service Partners)	(8) (12)	Class B-2 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		663		0.07	%
Repipe Aggregator, LLC (Repipe Specialists)	(8) (11) (12)	Purchased Units	3/31/2022	282	282		69		0.01	%
Total Services: Consumer					2,230		2,197		0.25	%

Sovereign & Public Finance
CMP Ren Partners I-A LP (LMI Consulting, LLC)	(8) (11) (12)	Equity Co-Invest	6/30/2022	633,980	634		1,565		0.18	%
Total Sovereign & Public Finance					634		1,565		0.18	%

Transportation: Cargo
Red Griffin TopCo, LLC (Seko Global Logistics LLC)	(8) (12)	Class A Units	11/27/2024	778	2,820		—		—	%
Red Griffin TopCo, LLC (Seko Global Logistics LLC)	(8) (12)	Class B Units	11/27/2024	409	1,481		—		—	%
REP RO Coinvest IV-A, LP (RoadOne)	(8) (11) (12)	Partnership Units	12/29/2022	938,576	939		486		0.06	%
Total Transportation: Cargo					5,240		486		0.06	%

Utilities: Electric
Helios Aggregator Holdings I LP (Pinnacle Supply Partners, LLC)	(8) (12)	Common Units	4/3/2023	279,687	280		80		0.01	%
Total Utilities: Electric					280		80		0.01	%

Utilities: Water
USAW Parent LLC (USA Water)	(8) (12)	Common Unit	2/21/2024	4,005	400		574		0.07	%
Total Utilities: Water					400		574		0.07	%

Wholesale
Lettermen's Parent Holding, LLC	(8) (12)	Common Units	12/5/2025	486	49		49		0.01	%
Lettermen's Parent Holding, LLC	(8) (12)	Class A Units	11/20/2025	4,000	400		403		0.04	%
Total Wholesale					449		452		0.05	%

(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
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt	S + 4.75%	8.47	%	7/25/2030	$	1,551	$	1,535	$	1,555	0.18	%
ERA Industries, LLC (BTX Precision)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.47	%	7/25/2030	889		887		891		0.10	%
PAG Holding Corp. (Precision Aviation Group)	(6) (12)	First Lien Debt	S + 4.75%	8.42	%	12/21/2029	14,739		14,524		14,721		1.68	%
PAG Holding Corp. (Precision Aviation Group)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	12/21/2029	4,886		4,852		4,880		0.56	%
STS Holding, Inc.	(6)	First Lien Debt	S + 4.75%	8.42	%	11/12/2030	3,500		3,471		3,343		0.38	%
Turbine Engine Specialists, Inc.	(12)	Subordinated Debt	S + 9.50%	13.38	%	3/1/2029	813		794		812		0.09	%
Turbine Engine Specialists, Inc.	(12)	Subordinated Debt	S + 9.50%	13.32	%	3/1/2029	2,505		2,462		2,502		0.29	%
Valkyrie Intermediate, LLC	(12)	Subordinated Debt	N/A	10.50% (Cash) 1.00% (PIK)		11/17/2027	2,894		2,870		2,875		0.33	%
Total Aerospace & Defense									31,395		31,579		3.61	%

Automotive
Covercraft Parent III, Inc.	(12) (16)	Subordinated Debt	N/A	14.50% (PIK)		2/20/2028	7,562		7,491		871		0.10	%
High Bar Brands Operating, LLC	(12)	Subordinated Debt	N/A	9.00% (Cash) 4.00% (PIK)		6/19/2030	2,088		2,052		2,013		0.23	%
JEGS Automotive	(12)	First Lien Debt	S + 7.00%	10.67	%	12/31/2029	1,367		1,367		1,367		0.16	%
JEGS Automotive	(12)	Revolving Loan	S + 7.00%	10.67	%	12/31/2029	227		227		227		0.03	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(6) (12)	First Lien Debt	S + 4.75%	8.63	%	4/18/2028	12,563		12,507		12,532		1.43	%
OEP Glass Purchaser, LLC (PGW Auto Glass)	(12)	First Lien Debt	S + 4.75%	8.63	%	4/18/2028	2,401		2,386		2,395		0.27	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 5.00%	8.85	%	3/1/2029	1,135		1,129		1,120		0.13	%
RA Parent Holdings LP (S&S Truck Parts)	(6) (12)	First Lien Debt	S + 5.00%	8.85	%	3/1/2029	19,832		19,685		19,565		2.23	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	8.85	%	3/1/2029	1,690		1,690		1,667		0.19	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	8.85	%	3/1/2029	96		96		95		0.01	%
RA Parent Holdings LP (S&S Truck Parts)	(6)	First Lien Debt	S + 5.00%	8.85	%	3/1/2029	6,718		6,683		6,628		0.76	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.73	%	11/1/2029	3,724		3,032		2,976		0.34	%
Randys Holdings, Inc. (Randy's Worldwide Automotive)	(6) (9) (12)	First Lien Debt	S + 5.00%	8.73	%	11/1/2029	10,913		10,821		10,749		1.23	%
Total Automotive									69,166		62,205		7.11	%


Banking, Finance, Insurance, Real Estate
Aprio Advisory Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.62	%	8/1/2031	92	—	—	—	%
Aprio Advisory Group, LLC	(11) (12)	Revolving Loan	S + 4.75%	8.62	%	8/1/2031	8	—	—	—	%
Ascend Partner Services LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.54	%	8/11/2031	12,588	12,157	12,089	1.39	%
Ascend Partner Services LLC	(6)	First Lien Debt	S + 4.50%	8.54	%	8/11/2031	7,284	7,224	7,215	0.82	%
Big Apple Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.24	%	11/18/2031	4,305	964	994	0.11	%
Big Apple Advisory, LLC	(11) (12)	Revolving Loan	S + 4.50%	8.24	%	11/18/2031	1,740	(15)	5	—	%
Big Apple Advisory, LLC	(12)	First Lien Debt	S + 4.50%	8.24	%	11/18/2031	8,888	8,810	8,914	1.02	%
Cohen Advisory, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.17	%	12/31/2031	4,824	195	216	0.02	%
Cohen Advisory, LLC	(6)	First Lien Debt	S + 4.50%	8.17	%	12/31/2031	8,599	8,522	8,599	0.98	%
Compex Legal Services, Inc.	(12)	First Lien Debt	S + 5.75%	9.72	%	3/31/2028	100	100	100	0.01	%
Illumifin Corporation (Long Term Care Group)	(9) (12)	First Lien Debt	S + 6.00%	10.13	%	9/8/2027	7,275	7,276	7,024	0.80	%
Knight AcquireCo, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.37	%	11/8/2032	1,250	—	(3)	—	%
Knight AcquireCo, LLC	(6) (9)	First Lien Debt	S + 4.50%	8.37	%	11/8/2032	3,750	3,741	3,743	0.43	%
Patriot Growth Insurance Services, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.82	%	10/16/2028	7,028	6,992	6,939	0.79	%
Smith & Howard Advisory LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.59	%	11/26/2030	2,344	2,227	2,189	0.25	%
Smith & Howard Advisory LLC	(6)	First Lien Debt	S + 4.75%	8.59	%	11/26/2030	2,893	2,868	2,840	0.32	%
Vensure Employer Services, Inc.	(9) (12)	First Lien Debt	S + 5.00%	8.67	%	9/27/2031	3,219	3,198	3,219	0.37	%
Vensure Employer Services, Inc.	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	9/27/2031	52	—	—	—	%
World Insurance Associates, LLC	(6) (9) (12)	First Lien Debt	S + 5.00%	8.67	%	4/3/2030	14,621	14,617	14,529	1.67	%
Total Banking, Finance, Insurance, Real Estate								78,876	78,612	8.98	%

Beverage, Food & Tobacco
AmerCareRoyal, LLC	(6)	First Lien Debt	S + 5.00%	8.72	%	9/10/2030	713	707	700	0.08	%
AmerCareRoyal, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.72	%	9/10/2030	165	—	(3)	—	%
AmerCareRoyal, LLC	(12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.72	%	9/10/2030	114	113	112	0.01	%
Bardstown PPC Buyer LLC (Bardstown Bourbon Company)	(12)	Subordinated Debt	S + 7.75%	11.45	%	8/30/2027	9,300	9,226	9,144	1.04	%
BCPE North Star US Holdco 2, Inc. (Dessert Holdings)	(6) (9) (12) (14)	Subordinated Debt	S + 7.25%	11.08	%	6/8/2029	6,245	6,183	6,176	0.71	%


Boardwalk Buyer LLC (Death Wish Coffee)	(6) (9)	First Lien Debt	S + 4.75%	8.52	%	9/28/2028	9,600	9,570	9,600	1.10	%
Commercial Bakeries Corp.	(6) (10) (12)	First Lien Debt	S + 5.25%	8.92	%	9/25/2029	16,936	16,709	16,844	1.92	%
Commercial Bakeries Corp.	(6) (10)	First Lien Debt	S + 5.25%	8.92	%	9/25/2029	2,004	1,992	1,993	0.23	%
FoodScience, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.62	%	11/14/2031	6,307	2,065	2,040	0.23	%
FoodScience, LLC	(6) (12)	First Lien Debt	S + 4.75%	8.62	%	11/14/2031	5,867	5,816	5,831	0.67	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	8.50% (Cash) 5.13% (PIK)		4/3/2029	4,293	4,239	4,137	0.47	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	9.16% (Cash) 5.13% (PIK)		4/3/2029	857	845	826	0.09	%
IF&P Holding Company, LLC (Fresh Edge)	(12)	Subordinated Debt	S + 4.50%	9.16% (Cash) 5.13% (PIK)		4/3/2029	1,014	998	978	0.11	%
Naturpak PPC Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.19	%	12/22/2032	1,111	—	(5)	—	%
Naturpak PPC Buyer LLC	(6)	First Lien Debt	S + 4.50%	8.19	%	12/22/2032	4,889	4,865	4,865	0.56	%
Nellson Nutraceutical, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.42	%	4/17/2031	72	—	—	—	%
Nellson Nutraceutical, LLC	(9) (12)	First Lien Debt	S + 5.75%	9.42	%	4/17/2031	925	916	926	0.11	%
Palmetto Acquisitionco, Inc. (Tech24)	(6) (12)	First Lien Debt	S + 5.75%	9.42	%	9/18/2029	13,048	12,891	12,493	1.43	%
Palmetto Acquisitionco, Inc. (Tech24)	(12)	First Lien Debt (Delayed Draw)	S + 5.75%	9.42	%	9/18/2029	3,675	3,667	3,519	0.40	%
Refresh Buyer, LLC (Sunny Sky Products)	(6) (12)	First Lien Debt	S + 4.75%	8.35	%	12/23/2028	6,952	6,908	6,815	0.78	%
Refresh Buyer, LLC (Sunny Sky Products)	(12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.35	%	12/23/2028	1,760	1,760	1,726	0.20	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(12)	First Lien Debt	S + 5.00%	8.99	%	7/30/2027	10,385	10,316	10,224	1.17	%
Sara Lee Frozen Bakery, LLC (f/k/a KSLB Holdings, LLC)	(6) (12)	First Lien Debt	S + 5.00%	8.99	%	7/30/2027	9,435	9,355	9,289	1.06	%
Watermill Express, LLC	(9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60	%	4/30/2031	2,373	2,368	2,373	0.27	%
Watermill Express, LLC	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60	%	4/30/2031	3,154	3,154	3,154	0.36	%
Watermill Express, LLC	(6) (9) (12)	First Lien Debt	S + 4.75%	8.60	%	4/30/2031	6,295	6,250	6,295	0.72	%
Watermill Express, LLC	(6) (9)	First Lien Debt	S + 4.75%	8.60	%	4/30/2031	3,211	3,202	3,211	0.37	%
Watermill Express, LLC	(6) (9)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60	%	4/30/2031	310	310	310	0.04	%
Watermill Express, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.60	%	4/30/2031	1,880	(6)	—	—	%


Watermill Express, LLC	(9) (12)	First Lien Debt	S + 4.75%	8.60	%	4/30/2031	2,741	2,715	2,741	0.31	%
WCHG Buyer, Inc. (Handgards, LLC)	(6) (12)	First Lien Debt	S + 4.75%	8.47	%	4/10/2031	20,256	20,090	20,249	2.31	%
Total Beverage, Food & Tobacco								147,224	146,563	16.75	%

Capital Equipment
Clean Solutions Buyer, Inc.	(6)	First Lien Debt	S + 4.50%	8.22	%	9/9/2030	975	967	962	0.11	%
Engineered Fastener Company, LLC (EFC International)	(12)	Subordinated Debt	N/A	11.00% (Cash) 2.50% (PIK)		5/1/2028	3,352	3,300	3,299	0.38	%
FirstCall Mechanical Group, LLC	(6)	First Lien Debt	S + 4.75%	8.42%		6/27/2031	9,850	9,772	9,786	1.12	%
FirstCall Mechanical Group, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42%		6/27/2031	19,844	15,427	15,315	1.74	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt	S + 6.00%	9.77%		12/15/2026	6,334	6,325	6,216	0.71	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.77%		12/15/2026	5,493	5,487	5,390	0.62	%
Heartland Home Services, Inc. (Helios Buyer, Inc.)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 6.00%	9.77	%	12/15/2026	2,519	2,519	2,472	0.28	%
Hyperion Materials & Technologies, Inc.	(12)	First Lien Debt	S + 4.50%	8.44	%	8/30/2028	2,600	2,600	2,490	0.28	%
Jetson Buyer, Inc. (E-Technologies Group, Inc.)	(6)	First Lien Debt	S + 5.50%	9.17	%	4/9/2030	7,204	7,147	7,054	0.81	%
Ovation Holdings, Inc	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.84	%	2/4/2030	7,838	7,352	7,410	0.85	%
Ovation Holdings, Inc	(6)	First Lien Debt	S + 5.00%	8.84	%	2/4/2030	939	931	938	0.11	%
Ovation Holdings, Inc	(6)	First Lien Debt	S + 5.00%	8.84	%	2/4/2030	7,873	7,773	7,866	0.90	%
Ovation Holdings, Inc	(6)	First Lien Debt (Delayed Draw)	S + 5.00%	8.84	%	2/4/2030	1,863	1,849	1,862	0.21	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6)	First Lien Debt	S + 5.25%	9.16	%	4/4/2029	9,427	9,320	9,307	1.06	%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.25%	9.16	%	4/4/2029	1,812	1,808	1,789	0.20	%
SkyMark Refuelers, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.21	%	12/16/2032	914	616	612	0.07	%
SkyMark Refuelers, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.21	%	12/16/2032	1,364	—	(7)	—	%
SkyMark Refuelers, LLC	(12)	First Lien Debt	S + 4.50%	8.21	%	12/16/2032	2,722	2,708	2,708	0.31	%
USA Industries Holdings LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.99	%	12/10/2032	36	—	—	—	%
USA Industries Holdings LLC	(12)	First Lien Debt	S + 4.25%	7.99	%	12/10/2032	64	63	63	0.01	%
Vessco Midco Holdings, LLC	(6) (9) (12)	First Lien Debt	S + 4.50%	8.42	%	7/24/2031	13,706	13,587	13,586	1.55	%
Vessco Midco Holdings, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.42	%	7/24/2031	4,569	3,758	3,737	0.43	%


Vessco Midco Holdings, LLC	(9) (11) (12)	Revolving Loan	S + 4.50%	8.42	%	7/24/2031	1,726	(14)	(15)	—	%
Total Capital Equipment								103,295	102,840	11.75	%

Chemicals, Plastics, & Rubber
Boulder Scientific Company, LLC	(6)	First Lien Debt	S + 4.50%	8.49	%	12/31/2027	1,984	1,992	1,983	0.23	%
Chroma Color Corporation	(6)	First Lien Debt	S + 4.25%	8.09	%	4/23/2029	6,187	6,111	6,106	0.70	%
Chroma Color Corporation	(6)	First Lien Debt (Delayed Draw)	S + 4.25%	8.09	%	4/23/2029	1,366	1,358	1,348	0.15	%
New Spartech Holdings LLC	(12)	First Lien Debt	S + 7.00%	10.74	%	3/31/2030	1,438	1,412	1,438	0.16	%
New Spartech Holdings LLC	(9) (12)	First Lien Debt	S + 1.00%	4.74% (Cash) 4.25% (PIK)		9/30/2030	2,413	2,413	2,365	0.27	%
Olympic Buyer, Inc. (Ascensus)	(6) (9) (12)	First Lien Debt	S + 4.35%	8.07	%	6/30/2028	9,531	9,445	8,239	0.94	%
WCI-Momentum Bidco, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	12/31/2032	17	—	—	—	%
WCI-Momentum Bidco, LLC	(12)	First Lien Debt	S + 4.75%	8.42	%	12/31/2032	83	83	83	0.01	%
Total Chemicals, Plastics, & Rubber								22,814	21,562	2.46	%

Construction & Building
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	2,493	2,448	2,344	0.27	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	4,746	4,703	4,462	0.51	%
Athlete Buyer, LLC (Allstar Holdings)	(12)	Subordinated Debt (Delayed Draw)	N/A	10.00% (Cash) 3.00% (PIK)		4/26/2030	6,022	5,965	5,661	0.65	%
Athlete Buyer, LLC (Allstar Holdings)	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	13.00% (PIK)		4/26/2030	2,510	(26)	(150)	(0.02	%)
Cobalt Service Partners, LLC	(9) (11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	10/13/2031	3,160	1,530	1,515	0.17	%
Cobalt Service Partners, LLC	(6) (9)	First Lien Debt	S + 4.75%	8.42	%	10/13/2031	1,822	1,806	1,806	0.21	%
Gannett Fleming, Inc.	(9) (12)	First Lien Debt	S + 4.75%	8.69	%	8/5/2030	17,646	17,429	17,528	2.00	%
Gannett Fleming, Inc.	(9) (11) (12)	Revolving Loan	S + 4.75%	8.69	%	8/5/2030	2,131	(25)	(14)	—	%
Heartland Paving Partners, LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	8/9/2030	5,689	5,056	4,917	0.56	%
Heartland Paving Partners, LLC	(6) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.67	%	8/9/2030	5,680	5,668	5,529	0.63	%
Heartland Paving Partners, LLC	(6) (12)	First Lien Debt	S + 5.00%	8.67	%	8/9/2030	8,464	8,394	8,239	0.94	%
ICE USA Infrastructure, Inc.	(6) (12)	First Lien Debt	S + 5.75%	9.47	%	3/15/2030	6,505	6,456	6,291	0.72	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(6) (9) (12)	First Lien Debt (Delayed Draw)	S + 5.00%	8.94	%	12/15/2027	4,821	4,804	4,821	0.55	%
Java Buyer, Inc. (Sciens Building Solutions, LLC)	(6) (9) (12)	First Lien Debt	S + 5.00%	8.94	%	12/15/2027	9,127	9,058	9,127	1.04	%


MEI Buyer LLC	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.97	%	6/29/2029	2,096	522	522	0.06	%
MEI Buyer LLC	(6) (12)	First Lien Debt	S + 4.25%	7.97	%	6/29/2029	11,202	11,052	11,203	1.28	%
MEI Buyer LLC	(12)	First Lien Debt (Delayed Draw)	S + 4.25%	7.97	%	6/29/2029	1,791	1,786	1,792	0.20	%
Rose Paving, LLC	(11) (12)	Subordinated Debt (Delayed Draw)	N/A	12.00	%	5/7/2030	191	(1)	(6)	—	%
Rose Paving, LLC	(12)	Subordinated Debt	N/A	12.00	%	5/7/2030	2,937	2,908	2,845	0.33	%
Royal Holdco Corporation (RMA Companies)	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.24	%	12/30/2030	3,432	692	691	0.08	%
Royal Holdco Corporation (RMA Companies)	(6) (12)	First Lien Debt	S + 4.50%	8.24	%	12/30/2030	16,399	16,315	16,252	1.86	%
SCIC Buyer, Inc.	(11) (12)	First Lien Debt (Delayed Draw)	S + 4.75%	8.42	%	3/28/2031	3,106	471	540	0.06	%
SCIC Buyer, Inc.	(6) (12)	First Lien Debt	S + 4.75%	8.42	%	3/28/2031	14,702	14,565	14,996	1.71	%
WSB Engineering Holdings Inc.	(6)	First Lien Debt	S + 4.50%	8.32	%	8/31/2029	6,389	6,327	6,331	0.72	%
WSB Engineering Holdings Inc.	(12)	First Lien Debt (Delayed Draw)	S + 4.50%	8.32	%	8/31/2029	4,197	4,181	4,159	0.48	%
Total Construction & Building								132,084	131,401	15.01	%

Consumer Goods: Durable
DRS Holdings III, Inc.	(6) (9)	First Lien Debt	S + 5.25%	8.97	%	11/1/2028	2,850	2,850	2,839	0.32	%
Momentum Textiles, LLC	(12)	Subordinated Debt	N/A	10.00% (Cash) 3.00% (PIK)		9/25/2029	5,117	5,039	5,059	0.58	%
XpressMyself.com LLC (SmartSign)	(6) (12)	First Lien Debt	S + 5.50%	9.34	%	9/7/2028	9,675	9,631	9,675	1.11	%
XpressMyself.com LLC (SmartSign)	(6)	First Lien Debt	S + 5.75%	9.59	%	9/7/2028	4,924	4,869	4,924	0.56	%
Total Consumer Goods: Durable								22,389	22,497	2.57	%

Consumer Goods: Non-durable
Bradford Soap International, Inc.	(11) (12)	First Lien Debt (Delayed Draw)


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	Cost		Fair Value (4)		% of Net Assets (5)
Cash Equivalents
BlackRock Liquidity Funds T-Fund - Institutional Class	3.55%	32,389,811	$	32,390	$	32,390	3.74	%
First American Government Obligations Fund - Class Z	3.54%	2,741,415	2,741		2,741		0.32	%
Total Cash Equivalents			$	35,131	$	35,131	4.06	%

Total Investments and Cash Equivalents			$	2,057,564	$	2,010,993	232.72	%


Counterparty	Footnotes	Hedged Instrument	Company Receives	Company Pays	Maturity Date	Notional Amount		Fair Value		Unrealized Appreciation (Depreciation)		Upfront Payments/Receipts
Derivatives - Interest Rate Swaps
Wells Fargo Bank, N.A.	(13) (14)	2030 Notes	6.65%	S + 2.3015%	3/15/2030	$	300,000	$	7,500	$	7,500	—
Total Derivatives - Interest Rate Swaps								$	7,500	$	7,500	—


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


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


	March 31, 2026		March 31, 2025
Cash	$	15,269	$	1,931
Cash equivalents	35,131		47,247

Total cash and cash equivalents shown on the consolidated statements of cash flows	$	50,400	$	49,178