þ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) | ||||||||||
OF THE SECURITIES EXCHANGE ACT OF 1934 |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) | ||||||||||
OF THE SECURITIES EXCHANGE ACT OF 1934 |
DELAWARE (State or jurisdiction of incorporation or organization) | 26-1219283 (I.R.S. Employer Identification No.) | |||||||
333 South Grand Avenue, 28th Floor Los Angeles, CA (Address of principal executive office) | 90071 (Zip Code) |
Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||||||||
Common Stock, par value $0.01 per share | OCSL | The Nasdaq Stock Market LLC |
Large accelerated filer þ | Accelerated filer ¨ | Non-accelerated filer ¨ | Smaller reporting company ¨ | |||||||||||||||||
Emerging growth company ¨ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ¨ |
PART I — FINANCIAL INFORMATION | |||||||||||
Consolidated Financial Statements: | |||||||||||
Item 1. | Consolidated Financial Statements. |
December 31, 2021 (unaudited) | September 30, 2021 | March 31, 2022 (unaudited) | September 30, 2021 | ASSETS | ||||||||||||||||||||||||
Investments at fair value: | Investments at fair value: | Investments at fair value: | ||||||||||||||||||||||||||
Control investments (cost December 31, 2021: $272,970; cost September 30, 2021: $283,599) | $ | 259,469 | $ | 270,765 | ||||||||||||||||||||||||
Affiliate investments (cost December 31, 2021: $18,845; cost September 30, 2021: $18,763) | 18,120 | 18,289 | ||||||||||||||||||||||||||
Non-control/Non-affiliate investments (cost December 31, 2021: $2,283,055; cost September 30, 2021: $2,236,759) | 2,311,034 | 2,267,575 | ||||||||||||||||||||||||||
Total investments at fair value (cost December 31, 2021: $2,574,870; cost September 30, 2021: $2,539,121) | 2,588,623 | 2,556,629 | ||||||||||||||||||||||||||
Control investments (cost March 31, 2022: $272,975; cost September 30, 2021: $283,599) | Control investments (cost March 31, 2022: $272,975; cost September 30, 2021: $283,599) | $ | 250,580 | $ | 270,765 | |||||||||||||||||||||||
Affiliate investments (cost March 31, 2022: $21,106; cost September 30, 2021: $18,763) | Affiliate investments (cost March 31, 2022: $21,106; cost September 30, 2021: $18,763) | 20,244 | 18,289 | |||||||||||||||||||||||||
Non-control/Non-affiliate investments (cost March 31, 2022: $2,365,667; cost September 30, 2021: $2,236,759) | Non-control/Non-affiliate investments (cost March 31, 2022: $2,365,667; cost September 30, 2021: $2,236,759) | 2,373,951 | 2,267,575 | |||||||||||||||||||||||||
Total investments at fair value (cost March 31, 2022: $2,659,748; cost September 30, 2021: $2,539,121) | Total investments at fair value (cost March 31, 2022: $2,659,748; cost September 30, 2021: $2,539,121) | 2,644,775 | 2,556,629 | |||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 43,765 | 29,334 | Cash and cash equivalents | 39,366 | 29,334 | ||||||||||||||||||||||
Restricted cash | Restricted cash | 2,292 | 2,301 | Restricted cash | 2,395 | 2,301 | ||||||||||||||||||||||
Interest, dividends and fees receivable | Interest, dividends and fees receivable | 18,508 | 22,125 | Interest, dividends and fees receivable | 17,335 | 22,125 | ||||||||||||||||||||||
Due from portfolio companies | Due from portfolio companies | 2,793 | 1,990 | Due from portfolio companies | 2,338 | 1,990 | ||||||||||||||||||||||
Receivables from unsettled transactions | Receivables from unsettled transactions | 25,823 | 8,150 | Receivables from unsettled transactions | 9,893 | 8,150 | ||||||||||||||||||||||
Due from broker | Due from broker | 3,450 | 1,640 | Due from broker | 25,120 | 1,640 | ||||||||||||||||||||||
Deferred financing costs | Deferred financing costs | 9,055 | 9,274 | Deferred financing costs | 8,486 | 9,274 | ||||||||||||||||||||||
Deferred offering costs | Deferred offering costs | 34 | 34 | Deferred offering costs | 32 | 34 | ||||||||||||||||||||||
Deferred tax asset, net | Deferred tax asset, net | 1,673 | 714 | Deferred tax asset, net | 1,668 | 714 | ||||||||||||||||||||||
Derivative assets at fair value | Derivative assets at fair value | 1,075 | 1,912 | Derivative assets at fair value | 2,764 | 1,912 | ||||||||||||||||||||||
Other assets | Other assets | 2,848 | 2,284 | Other assets | 2,510 | 2,284 | ||||||||||||||||||||||
Total assets | Total assets | $ | 2,699,939 | $ | 2,636,387 | Total assets | $ | 2,756,682 | $ | 2,636,387 | LIABILITIES AND NET ASSETS | |||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||
Accounts payable, accrued expenses and other liabilities | Accounts payable, accrued expenses and other liabilities | $ | 6,169 | $ | 3,024 | Accounts payable, accrued expenses and other liabilities | $ | 2,453 | $ | 3,024 | ||||||||||||||||||
Base management fee and incentive fee payable | Base management fee and incentive fee payable | 26,190 | 32,649 | Base management fee and incentive fee payable | 22,833 | 32,649 | ||||||||||||||||||||||
Due to affiliate | Due to affiliate | 3,503 | 4,357 | Due to affiliate | 3,249 | 4,357 | ||||||||||||||||||||||
Interest payable | Interest payable | 6,698 | 4,597 | Interest payable | 4,379 | 4,597 | ||||||||||||||||||||||
Director fees payable | Director fees payable | 123 | — | Director fees payable | 38 | — | ||||||||||||||||||||||
Payables from unsettled transactions | Payables from unsettled transactions | 40,803 | 8,086 | Payables from unsettled transactions | 6,422 | 8,086 | ||||||||||||||||||||||
Derivative liability at fair value | Derivative liability at fair value | 5,931 | 2,108 | Derivative liability at fair value | 23,272 | 2,108 | ||||||||||||||||||||||
Credit facilities payable | Credit facilities payable | 650,000 | 630,000 | Credit facilities payable | 745,000 | 630,000 | ||||||||||||||||||||||
Unsecured notes payable (net of $6,131 and $6,501 of unamortized financing costs as of December 31, 2021 and September 30, 2021, respectively) | 635,461 | 638,743 | ||||||||||||||||||||||||||
Unsecured notes payable (net of $5,761 and $6,501 of unamortized financing costs as of March 31, 2022 and September 30, 2021, respectively) | Unsecured notes payable (net of $5,761 and $6,501 of unamortized financing costs as of March 31, 2022 and September 30, 2021, respectively) | 618,660 | 638,743 | |||||||||||||||||||||||||
Total liabilities | Total liabilities | 1,374,878 | 1,323,564 | Total liabilities | 1,426,306 | 1,323,564 | ||||||||||||||||||||||
Commitments and contingencies (Note 13) | Commitments and contingencies (Note 13) | Commitments and contingencies (Note 13) | ||||||||||||||||||||||||||
Net assets: | Net assets: | Net assets: | ||||||||||||||||||||||||||
Common stock, $0.01 par value per share, 250,000 shares authorized; 180,469 and 180,361 shares issued and outstanding as of December 31, 2021 and September 30, 2021, respectively | 1,805 | 1,804 | ||||||||||||||||||||||||||
Common stock, $0.01 par value per share, 250,000 shares authorized; 183,205 and 180,361 shares issued and outstanding as of March 31, 2022 and September 30, 2021, respectively | Common stock, $0.01 par value per share, 250,000 shares authorized; 183,205 and 180,361 shares issued and outstanding as of March 31, 2022 and September 30, 2021, respectively | 1,832 | 1,804 | |||||||||||||||||||||||||
Additional paid-in-capital | Additional paid-in-capital | 1,805,139 | 1,804,354 | Additional paid-in-capital | 1,825,257 | 1,804,354 | ||||||||||||||||||||||
Accumulated overdistributed earnings | Accumulated overdistributed earnings | (481,883) | (493,335) | Accumulated overdistributed earnings | (496,713) | (493,335) | ||||||||||||||||||||||
Total net assets (equivalent to $7.34 and $7.28 per common share as of December 31, 2021 and September 30, 2021, respectively) (Note 11) | 1,325,061 | 1,312,823 | ||||||||||||||||||||||||||
Total net assets (equivalent to $7.26 and $7.28 per common share as of March 31, 2022 and September 30, 2021, respectively) (Note 11) | Total net assets (equivalent to $7.26 and $7.28 per common share as of March 31, 2022 and September 30, 2021, respectively) (Note 11) | 1,330,376 | 1,312,823 | |||||||||||||||||||||||||
Total liabilities and net assets | Total liabilities and net assets | $ | 2,699,939 | $ | 2,636,387 | Total liabilities and net assets | $ | 2,756,682 | $ | 2,636,387 |
Three months ended December 31, 2021 | Three months ended December 31, 2020 | Three months ended March 31, 2022 | Three months ended March 31, 2021 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | |||||||||||||||||||||||||||||||||||
Interest income: | Interest income: | Interest income: | ||||||||||||||||||||||||||||||||||||||
Control investments | Control investments | $ | 3,480 | $ | 2,343 | Control investments | $ | 3,334 | $ | 2,374 | $ | 6,814 | $ | 4,717 | ||||||||||||||||||||||||||
Affiliate investments | Affiliate investments | 334 | 105 | Affiliate investments | 366 | 143 | 700 | 248 | ||||||||||||||||||||||||||||||||
Non-control/Non-affiliate investments | Non-control/Non-affiliate investments | 51,635 | 29,184 | Non-control/Non-affiliate investments | 53,314 | 33,133 | 104,949 | 62,317 | ||||||||||||||||||||||||||||||||
Interest on cash and cash equivalents | Interest on cash and cash equivalents | 1 | 1 | Interest on cash and cash equivalents | 5 | 5 | 6 | 6 | ||||||||||||||||||||||||||||||||
Total interest income | Total interest income | 55,450 | 31,633 | Total interest income | 57,019 | 35,655 | 112,469 | 67,288 | ||||||||||||||||||||||||||||||||
PIK interest income: | PIK interest income: | PIK interest income: | ||||||||||||||||||||||||||||||||||||||
Non-control/Non-affiliate investments | Non-control/Non-affiliate investments | 4,663 | 3,089 | Non-control/Non-affiliate investments | 4,674 | 3,801 | 9,337 | 6,890 | ||||||||||||||||||||||||||||||||
Total PIK interest income | Total PIK interest income | 4,663 | 3,089 | Total PIK interest income | 4,674 | 3,801 | 9,337 | 6,890 | ||||||||||||||||||||||||||||||||
Fee income: | Fee income: | Fee income: | ||||||||||||||||||||||||||||||||||||||
Control investments | Control investments | 13 | 15 | Control investments | 13 | 18 | 26 | 33 | ||||||||||||||||||||||||||||||||
Affiliate investments | Affiliate investments | 5 | 5 | Affiliate investments | 5 | 5 | 10 | 10 | ||||||||||||||||||||||||||||||||
Non-control/Non-affiliate investments | Non-control/Non-affiliate investments | 894 | 3,332 | Non-control/Non-affiliate investments | 1,887 | 2,255 | 2,781 | 5,587 | ||||||||||||||||||||||||||||||||
Total fee income | Total fee income | 912 | 3,352 | Total fee income | 1,905 | 2,278 | 2,817 | 5,630 | ||||||||||||||||||||||||||||||||
Dividend income: | Dividend income: | Dividend income: | ||||||||||||||||||||||||||||||||||||||
Control investments | Control investments | 3,916 | 130 | Control investments | 700 | 209 | 4,616 | 339 | ||||||||||||||||||||||||||||||||
Total dividend income | Total dividend income | 3,916 | 130 | Total dividend income | 700 | 209 | 4,616 | 339 | ||||||||||||||||||||||||||||||||
Total investment income | Total investment income | 64,941 | 38,204 | Total investment income | 64,298 | 41,943 | 129,239 | 80,147 | ||||||||||||||||||||||||||||||||
Expenses: | Expenses: | Expenses: | ||||||||||||||||||||||||||||||||||||||
Base management fee | Base management fee | 9,952 | 6,541 | Base management fee | 10,082 | 7,074 | 20,034 | 13,615 | ||||||||||||||||||||||||||||||||
Part I incentive fee | Part I incentive fee | 6,457 | 4,149 | Part I incentive fee | 6,704 | 4,444 | 13,161 | 8,593 | ||||||||||||||||||||||||||||||||
Part II incentive fee | Part II incentive fee | 1,751 | 9,540 | Part II incentive fee | (3,746) | 3,609 | (1,995) | 13,149 | ||||||||||||||||||||||||||||||||
Professional fees | Professional fees | 1,322 | 867 | Professional fees | 822 | 1,017 | 2,144 | 1,884 | ||||||||||||||||||||||||||||||||
Directors fees | Directors fees | 123 | 143 | Directors fees | 160 | 157 | 283 | 300 | ||||||||||||||||||||||||||||||||
Interest expense | Interest expense | 9,400 | 6,095 | Interest expense | 9,908 | 6,568 | 19,308 | 12,663 | ||||||||||||||||||||||||||||||||
Administrator expense | Administrator expense | 390 | 333 | Administrator expense | 307 | 293 | 697 | 626 | ||||||||||||||||||||||||||||||||
General and administrative expenses | General and administrative expenses | 693 | 518 | General and administrative expenses | 713 | 775 | 1,406 | 1,293 | ||||||||||||||||||||||||||||||||
Total expenses | Total expenses | 30,088 | 28,186 | Total expenses | 24,950 | 23,937 | 55,038 | 52,123 | ||||||||||||||||||||||||||||||||
Fees waived | Fees waived | (750) | — | Fees waived | (750) | (108) | (1,500) | (108) | ||||||||||||||||||||||||||||||||
Net expenses | Net expenses | 29,338 | 28,186 | Net expenses | 24,200 | 23,829 | 53,538 | 52,015 | ||||||||||||||||||||||||||||||||
Net investment income before taxes | Net investment income before taxes | 35,603 | 10,018 | Net investment income before taxes | 40,098 | 18,114 | 75,701 | 28,132 | ||||||||||||||||||||||||||||||||
(Provision) benefit for taxes on net investment income | (Provision) benefit for taxes on net investment income | (3,308) | — | (Provision) benefit for taxes on net investment income | — | — | (3,308) | — | ||||||||||||||||||||||||||||||||
Net investment income | Net investment income | 32,295 | 10,018 | Net investment income | 40,098 | 18,114 | 72,393 | 28,132 | ||||||||||||||||||||||||||||||||
Unrealized appreciation (depreciation): | Unrealized appreciation (depreciation): | Unrealized appreciation (depreciation): | ||||||||||||||||||||||||||||||||||||||
Control investments | Control investments | (667) | 8,335 | Control investments | (8,894) | 18,411 | (9,561) | 26,746 | ||||||||||||||||||||||||||||||||
Affiliate investments | Affiliate investments | (251) | (290) | Affiliate investments | (137) | 394 | (388) | 104 | ||||||||||||||||||||||||||||||||
Non-control/Non-affiliate investments | Non-control/Non-affiliate investments | (2,831) | 41,937 | Non-control/Non-affiliate investments | (19,696) | 42,803 | (22,527) | 84,740 | ||||||||||||||||||||||||||||||||
Foreign currency forward contracts | Foreign currency forward contracts | (837) | (2,426) | Foreign currency forward contracts | 1,689 | 3,536 | 852 | 1,110 | ||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | Net unrealized appreciation (depreciation) | (4,586) | 47,556 | Net unrealized appreciation (depreciation) | (27,038) | 65,144 | (31,624) | 112,700 | ||||||||||||||||||||||||||||||||
Realized gains (losses): | Realized gains (losses): | Realized gains (losses): | ||||||||||||||||||||||||||||||||||||||
Control investments | Control investments | 1,868 | — | Control investments | — | — | 1,868 | — | ||||||||||||||||||||||||||||||||
Non-control/Non-affiliate investments | Non-control/Non-affiliate investments | 4,481 | 8,738 | Non-control/Non-affiliate investments | 991 | 8,179 | 5,472 | 16,917 | ||||||||||||||||||||||||||||||||
Foreign currency forward contracts | Foreign currency forward contracts | 2,972 | (523) | Foreign currency forward contracts | 411 | (2,323) | 3,383 | (2,846) | ||||||||||||||||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | 9,321 | 8,215 | Net realized gains (losses) | 1,402 | 5,856 | 10,723 | 14,071 | ||||||||||||||||||||||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) | (Provision) benefit for taxes on realized and unrealized gains (losses) | 2,378 | (245) | (Provision) benefit for taxes on realized and unrealized gains (losses) | (21) | (997) | 2,357 | (1,242) | ||||||||||||||||||||||||||||||||
Net realized and unrealized gains (losses), net of taxes | Net realized and unrealized gains (losses), net of taxes | 7,113 | 55,526 | Net realized and unrealized gains (losses), net of taxes | (25,657) | 70,003 | (18,544) | 125,529 | ||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | Net increase (decrease) in net assets resulting from operations | $ | 39,408 | $ | 65,544 | Net increase (decrease) in net assets resulting from operations | $ | 14,441 | $ | 88,117 | $ | 53,849 | $ | 153,661 | ||||||||||||||||||||||||||
Net investment income per common share — basic and diluted | Net investment income per common share — basic and diluted | $ | 0.18 | $ | 0.07 | Net investment income per common share — basic and diluted | $ | 0.22 | $ | 0.12 | $ | 0.40 | $ | 0.20 | ||||||||||||||||||||||||||
Earnings (loss) per common share — basic and diluted (Note 5) | Earnings (loss) per common share — basic and diluted (Note 5) | $ | 0.22 | $ | 0.46 | Earnings (loss) per common share — basic and diluted (Note 5) | $ | 0.08 | $ | 0.60 | $ | 0.30 | $ | 1.07 | ||||||||||||||||||||||||||
Weighted average common shares outstanding — basic and diluted | Weighted average common shares outstanding — basic and diluted | 180,381 | 140,961 | Weighted average common shares outstanding — basic and diluted | 181,598 | 146,652 | 180,982 | 143,775 |
Three months ended December 31, 2021 | Three months ended December 31, 2020 | |||||||||||||
Operations: | ||||||||||||||
Net investment income | $ | 32,295 | $ | 10,018 | ||||||||||
Net unrealized appreciation (depreciation) | (4,586) | 47,556 | ||||||||||||
Net realized gains (losses) | 9,321 | 8,215 | ||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) | 2,378 | (245) | ||||||||||||
Net increase (decrease) in net assets resulting from operations | 39,408 | 65,544 | ||||||||||||
Stockholder transactions: | ||||||||||||||
Distributions to stockholders | (27,956) | (15,506) | ||||||||||||
Net increase (decrease) in net assets from stockholder transactions | (27,956) | (15,506) | ||||||||||||
Capital share transactions: | ||||||||||||||
Issuance of common stock under dividend reinvestment plan | 786 | 528 | ||||||||||||
Repurchases of common stock under dividend reinvestment plan | — | (528) | ||||||||||||
Net increase (decrease) in net assets from capital share transactions | 786 | — | ||||||||||||
Total increase (decrease) in net assets | 12,238 | 50,038 | ||||||||||||
Net assets at beginning of period | 1,312,823 | 914,879 | ||||||||||||
Net assets at end of period | $ | 1,325,061 | $ | 964,917 | ||||||||||
Net asset value per common share | $ | 7.34 | $ | 6.85 | ||||||||||
Common shares outstanding at end of period | 180,469 | 140,961 |
Three months ended March 31, 2022 | Three months ended March 31, 2021 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | |||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||||
Net investment income | $ | 40,098 | $ | 18,114 | $ | 72,393 | $ | 28,132 | ||||||||||||||||||
Net unrealized appreciation (depreciation) | (27,038) | 65,144 | (31,624) | 112,700 | ||||||||||||||||||||||
Net realized gains (losses) | 1,402 | 5,856 | 10,723 | 14,071 | ||||||||||||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) | (21) | (997) | 2,357 | (1,242) | ||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 14,441 | 88,117 | 53,849 | 153,661 | ||||||||||||||||||||||
Stockholder transactions: | ||||||||||||||||||||||||||
Distributions to stockholders | (29,271) | (16,915) | (57,227) | (32,421) | ||||||||||||||||||||||
Net increase (decrease) in net assets from stockholder transactions | (29,271) | (16,915) | (57,227) | (32,421) | ||||||||||||||||||||||
Capital share transactions: | ||||||||||||||||||||||||||
Issuance of common stock in connection with the Mergers | — | 242,704 | — | 242,704 | ||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | 766 | 511 | 1,552 | 1,039 | ||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | — | (511) | — | (1,039) | ||||||||||||||||||||||
Issuance of common stock in connection with the "at the market" offering | 19,379 | — | 19,379 | — | ||||||||||||||||||||||
Net increase (decrease) in net assets from capital share transactions | 20,145 | 242,704 | 20,931 | 242,704 | ||||||||||||||||||||||
Total increase (decrease) in net assets | 5,315 | 313,906 | 17,553 | 363,944 | ||||||||||||||||||||||
Net assets at beginning of period | 1,325,061 | 964,917 | 1,312,823 | 914,879 | ||||||||||||||||||||||
Net assets at end of period | $ | 1,330,376 | $ | 1,278,823 | $ | 1,330,376 | $ | 1,278,823 | ||||||||||||||||||
Net asset value per common share | $ | 7.26 | $ | 7.09 | $ | 7.26 | $ | 7.09 | ||||||||||||||||||
Common shares outstanding at end of period | 183,205 | 180,361 | 183,205 | 180,361 |
Three months ended December 31, 2021 | Three months ended December 31, 2020 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | |||||||||||||||||||||||||
Operating activities: | Operating activities: | Operating activities: | ||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | Net increase (decrease) in net assets resulting from operations | $ | 39,408 | $ | 65,544 | Net increase (decrease) in net assets resulting from operations | $ | 53,849 | $ | 153,661 | ||||||||||||||||||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||||||||||||||||||||||||||
Net unrealized (appreciation) depreciation | Net unrealized (appreciation) depreciation | 4,586 | (47,556) | Net unrealized (appreciation) depreciation | 31,624 | (112,700) | ||||||||||||||||||||||
Net realized (gains) losses | Net realized (gains) losses | (9,321) | (8,215) | Net realized (gains) losses | (10,723) | (14,071) | ||||||||||||||||||||||
PIK interest income | PIK interest income | (4,663) | (3,089) | PIK interest income | (9,337) | (6,890) | ||||||||||||||||||||||
Accretion of original issue discount on investments | Accretion of original issue discount on investments | (7,076) | (3,143) | Accretion of original issue discount on investments | (16,375) | (7,777) | ||||||||||||||||||||||
Accretion of original issue discount on unsecured notes payable | Accretion of original issue discount on unsecured notes payable | 170 | 127 | Accretion of original issue discount on unsecured notes payable | 339 | 254 | ||||||||||||||||||||||
Amortization of deferred financing costs | Amortization of deferred financing costs | 924 | 636 | Amortization of deferred financing costs | 1,863 | 1,323 | ||||||||||||||||||||||
Deferred taxes | Deferred taxes | (959) | (275) | Deferred taxes | (954) | 320 | ||||||||||||||||||||||
Purchases of investments | Purchases of investments | (246,623) | (243,741) | Purchases of investments | (497,579) | (541,491) | ||||||||||||||||||||||
Proceeds from the sales and repayments of investments | Proceeds from the sales and repayments of investments | 235,020 | 169,821 | Proceeds from the sales and repayments of investments | 416,250 | 398,748 | ||||||||||||||||||||||
Cash acquired in the Mergers | Cash acquired in the Mergers | — | 20,945 | |||||||||||||||||||||||||
Changes in operating assets and liabilities: | Changes in operating assets and liabilities: | Changes in operating assets and liabilities: | ||||||||||||||||||||||||||
(Increase) decrease in interest, dividends and fees receivable | (Increase) decrease in interest, dividends and fees receivable | 1,796 | (1,848) | (Increase) decrease in interest, dividends and fees receivable | 2,698 | 337 | ||||||||||||||||||||||
(Increase) decrease in due from portfolio companies | (Increase) decrease in due from portfolio companies | (803) | 632 | (Increase) decrease in due from portfolio companies | (348) | 67 | ||||||||||||||||||||||
(Increase) decrease in receivables from unsettled transactions | (Increase) decrease in receivables from unsettled transactions | (17,673) | (1,931) | (Increase) decrease in receivables from unsettled transactions | (1,743) | (25,804) | ||||||||||||||||||||||
(Increase) decrease in due from broker | (Increase) decrease in due from broker | (1,810) | — | (Increase) decrease in due from broker | (23,480) | — | ||||||||||||||||||||||
(Increase) decrease in other assets | (Increase) decrease in other assets | (564) | (26,272) | (Increase) decrease in other assets | (226) | (1,429) | ||||||||||||||||||||||
Increase (decrease) in accounts payable, accrued expenses and other liabilities | Increase (decrease) in accounts payable, accrued expenses and other liabilities | 3,145 | 1,314 | Increase (decrease) in accounts payable, accrued expenses and other liabilities | (628) | (40) | ||||||||||||||||||||||
Increase (decrease) in base management fee and incentive fee payable | Increase (decrease) in base management fee and incentive fee payable | (6,459) | 9,018 | Increase (decrease) in base management fee and incentive fee payable | (9,816) | 11,427 | ||||||||||||||||||||||
Increase (decrease) in due to affiliate | Increase (decrease) in due to affiliate | (854) | 225 | Increase (decrease) in due to affiliate | (1,108) | 1,450 | ||||||||||||||||||||||
Increase (decrease) in interest payable | Increase (decrease) in interest payable | 2,101 | 2,566 | Increase (decrease) in interest payable | (218) | (74) | ||||||||||||||||||||||
Increase (decrease) in payables from unsettled transactions | Increase (decrease) in payables from unsettled transactions | 32,717 | 102,259 | Increase (decrease) in payables from unsettled transactions | (1,664) | 8,767 | ||||||||||||||||||||||
Increase (decrease) in director fees payable | Increase (decrease) in director fees payable | 123 | — | Increase (decrease) in director fees payable | 38 | (90) | ||||||||||||||||||||||
Net cash provided by (used in) operating activities | Net cash provided by (used in) operating activities | 23,185 | 16,072 | Net cash provided by (used in) operating activities | (67,538) | (113,067) | ||||||||||||||||||||||
Financing activities: | Financing activities: | Financing activities: | ||||||||||||||||||||||||||
Distributions paid in cash | Distributions paid in cash | (27,170) | (14,978) | Distributions paid in cash | (55,675) | (31,382) | ||||||||||||||||||||||
Borrowings under credit facilities | Borrowings under credit facilities | 70,000 | — | Borrowings under credit facilities | 225,000 | 175,000 | ||||||||||||||||||||||
Repayments of borrowings under credit facilities | Repayments of borrowings under credit facilities | (50,000) | (14,800) | Repayments of borrowings under credit facilities | (110,000) | (14,800) | ||||||||||||||||||||||
Repayments of secured borrowings | Repayments of secured borrowings | — | (9,341) | |||||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | Repurchases of common stock under dividend reinvestment plan | — | (528) | Repurchases of common stock under dividend reinvestment plan | — | (1,039) | ||||||||||||||||||||||
Shares issued under the "at the market" offering | Shares issued under the "at the market" offering | 19,596 | — | |||||||||||||||||||||||||
Deferred financing costs paid | Deferred financing costs paid | (334) | (288) | Deferred financing costs paid | (334) | (360) | ||||||||||||||||||||||
Offering costs paid | Offering costs paid | (158) | — | |||||||||||||||||||||||||
Net cash provided by (used in) financing activities | Net cash provided by (used in) financing activities | (7,504) | (30,594) | Net cash provided by (used in) financing activities | 78,429 | 118,078 | ||||||||||||||||||||||
Effect of exchange rate changes on foreign currency | Effect of exchange rate changes on foreign currency | (1,259) | (340) | Effect of exchange rate changes on foreign currency | (765) | (378) | ||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | Net increase (decrease) in cash and cash equivalents and restricted cash | 14,422 | (14,862) | Net increase (decrease) in cash and cash equivalents and restricted cash | 10,126 | 4,633 | ||||||||||||||||||||||
Cash and cash equivalents and restricted cash, beginning of period | Cash and cash equivalents and restricted cash, beginning of period | 31,635 | 39,096 | Cash and cash equivalents and restricted cash, beginning of period | 31,635 | 39,096 | ||||||||||||||||||||||
Cash and cash equivalents and restricted cash, end of period | Cash and cash equivalents and restricted cash, end of period | $ | 46,057 | $ | 24,234 | Cash and cash equivalents and restricted cash, end of period | $ | 41,761 | $ | 43,729 | ||||||||||||||||||
Supplemental information: | Supplemental information: | Supplemental information: | ||||||||||||||||||||||||||
Cash paid for interest | Cash paid for interest | $ | 6,205 | $ | 2,766 | Cash paid for interest | $ | 17,324 | $ | 11,160 | ||||||||||||||||||
Non-cash financing activities: | Non-cash financing activities: | Non-cash financing activities: | ||||||||||||||||||||||||||
Issuance of shares of common stock under dividend reinvestment plan | Issuance of shares of common stock under dividend reinvestment plan | $ | 786 | $ | 528 | Issuance of shares of common stock under dividend reinvestment plan | $ | 1,552 | $ | 1,039 | ||||||||||||||||||
Deferred financing costs | Deferred financing costs | — | (57) | Deferred financing costs | — | (57) | ||||||||||||||||||||||
Offering costs | Offering costs | 57 | — | |||||||||||||||||||||||||
Issuance of shares in connection with the Mergers | Issuance of shares in connection with the Mergers | — | 242,704 | |||||||||||||||||||||||||
Reconciliation to the Consolidated Statements of Assets and Liabilities | Reconciliation to the Consolidated Statements of Assets and Liabilities | December 31, 2021 | September 30, 2021 | Reconciliation to the Consolidated Statements of Assets and Liabilities | March 31, 2022 | September 30, 2021 | ||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | $ | 43,765 | $ | 29,334 | Cash and cash equivalents | $ | 39,366 | $ | 29,334 | ||||||||||||||||||
Restricted cash | Restricted cash | 2,292 | 2,301 | Restricted cash | 2,395 | 2,301 | ||||||||||||||||||||||
Total cash and cash equivalents and restricted cash | Total cash and cash equivalents and restricted cash | $ | 46,057 | $ | 31,635 | Total cash and cash equivalents and restricted cash | $ | 41,761 | $ | 31,635 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||||||||||||||||||||||||||||||||||||
Control Investments | Control Investments | (8)(9) | Control Investments | (8)(9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | C5 Technology Holdings, LLC | Data Processing & Outsourced Services | C5 Technology Holdings, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
829 Common Units | 829 Common Units | $ | — | $ | — | (15) | 829 Common Units | $ | — | $ | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||||
34,984,460.37 Preferred Units | 34,984,460.37 Preferred Units | 34,984 | 27,638 | (15) | 34,984,460.37 Preferred Units | 34,984 | 27,638 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
34,984 | 27,638 | 34,984 | 27,638 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Dominion Diagnostics, LLC | Health Care Services | Dominion Diagnostics, LLC | Health Care Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 23,201 | 23,201 | 23,201 | (6)(15) | First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.01 | % | $ | 23,201 | 23,201 | 23,201 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | — | — | — | (6)(15)(19) | First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | — | — | — | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 18,625 | 18,065 | (12)(15) | 30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 18,625 | 11,112 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
41,826 | 41,266 | 41,826 | 34,313 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
OCSI Glick JV LLC | OCSI Glick JV LLC | Multi-Sector Holdings | (14) | OCSI Glick JV LLC | Multi-Sector Holdings | (14) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | 4.58 | % | 61,237 | 50,588 | 55,854 | (6)(11)(15)(19) | Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | 4.60 | % | 60,887 | 50,593 | 55,649 | (6)(11)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||
87.5% equity interest | 87.5% equity interest | — | — | (11)(16)(19) | 87.5% equity interest | — | — | (11)(16)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||
50,588 | 55,854 | 50,593 | 55,649 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC | Senior Loan Fund JV I, LLC | Multi-Sector Holdings | (14) | Senior Loan Fund JV I, LLC | Multi-Sector Holdings | (14) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 8.00 | % | 96,250 | 96,250 | 96,250 | (6)(11)(15)(19) | Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 8.00 | % | 96,250 | 96,250 | 96,250 | (6)(11)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||
87.5% LLC equity interest | 87.5% LLC equity interest | 49,322 | 38,461 | (11)(12)(16)(19) | 87.5% LLC equity interest | 49,322 | 36,730 | (11)(12)(16)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||
145,572 | 134,711 | 145,572 | 132,980 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments (19.6% of net assets) | $ | 272,970 | $ | 259,469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments (18.8% of net assets) | Total Control Investments (18.8% of net assets) | $ | 272,975 | $ | 250,580 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Affiliate Investments | Affiliate Investments | (17) | Affiliate Investments | (17) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Assembled Brands Capital LLC | Specialized Finance | Assembled Brands Capital LLC | Specialized Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.75% cash due 10/17/2023 | First Lien Revolver, LIBOR+6.75% cash due 10/17/2023 | 7.75 | % | $ | 15,982 | $ | 15,982 | $ | 15,724 | (6)(15)(19) | First Lien Revolver, LIBOR+6.75% cash due 10/17/2023 | 7.76 | % | $ | 18,242 | $ | 18,243 | $ | 17,938 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||
1,609,201 Class A Units | 1,609,201 Class A Units | 764 | 386 | (15) | 1,609,201 Class A Units | 764 | 402 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019,168.80 Preferred Units, 6% | 1,019 | 1,172 | (15) | 1,019,168.80 Preferred Units, 6% | 1,019 | 1,182 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | 70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (15) | 70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
17,765 | 17,282 | 20,026 | 19,522 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Caregiver Services, Inc. | Health Care Services | Caregiver Services, Inc. | Health Care Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 838 | (15) | 1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 722 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
1,080 | 838 | 1,080 | 722 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments (1.4% of net assets) | $ | 18,845 | $ | 18,120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments (1.5% of net assets) | Total Affiliate Investments (1.5% of net assets) | $ | 21,106 | $ | 20,244 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Control/Non-Affiliate Investments | Non-Control/Non-Affiliate Investments | (18) | Non-Control/Non-Affiliate Investments | (18) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
109 Montgomery Owner LLC | 109 Montgomery Owner LLC | Real Estate Operating Companies | 109 Montgomery Owner LLC | Real Estate Operating Companies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 2/2/2023 | First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 2/2/2023 | 7.50 | % | 2,427 | 2,345 | 2,696 | (6)(15)(19) | First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 2/2/2023 | 7.50 | % | $ | 1,707 | $ | 1,660 | $ | 2,022 | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||
2,345 | 2,696 | 1,660 | 2,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
A.T. Holdings II SÀRL | A.T. Holdings II SÀRL | Biotechnology | A.T. Holdings II SÀRL | Biotechnology | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.50% cash due 12/22/2022 | First Lien Term Loan, 9.50% cash due 12/22/2022 | 32,454 | 32,298 | 32,386 | (11)(15) | First Lien Term Loan, 9.50% cash due 12/22/2022 | 32,454 | 32,337 | 32,325 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||
32,298 | 32,386 | 32,337 | 32,325 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Access CIG, LLC | Access CIG, LLC | Diversified Support Services | Access CIG, LLC | Diversified Support Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.84 | % | 3,343 | 3,152 | 3,326 | (6) | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 4.21 | % | 3,334 | 3,158 | 3,289 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 7.84 | % | 17,000 | 16,928 | 17,011 | (6) | Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 8.21 | % | 17,000 | 16,932 | 16,904 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
20,080 | 20,337 | 20,090 | 20,193 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accupac, Inc. | Accupac, Inc. | Personal Products | Accupac, Inc. | Personal Products | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | 16,099 | 15,741 | 16,099 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 1/17/2026 | — | (28) | — | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | 1,531 | 1,486 | 1,531 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 1/17/2026 | First Lien Term Loan, LIBOR+5.50% cash due 1/17/2026 | 6.50 | % | 16,058 | 15,722 | 16,058 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 1/17/2026 | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 1/17/2026 | — | — | — | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 1/17/2026 | First Lien Revolver, LIBOR+5.50% cash due 1/17/2026 | 6.50 | % | 1,429 | 1,387 | 1,429 | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||
17,199 | 17,630 | 17,109 | 17,487 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquia Inc. | Acquia Inc. | Application Software | Acquia Inc. | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | 8.00 | % | 27,349 | 26,962 | 27,319 | (6)(15) | First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | 8.00 | % | 27,349 | 26,987 | 27,295 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | — | (29) | (2) | (6)(15)(19) | First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | — | (28) | (4) | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||
26,933 | 27,317 | 26,959 | 27,291 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||||||||||||||||||||||||||||||||||||
ADB Companies, LLC | ADB Companies, LLC | Construction & Engineering | ADB Companies, LLC | Construction & Engineering | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | $ | 15,240 | $ | 14,641 | $ | 15,105 | (6)(15) | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.26 | % | $ | 15,067 | $ | 14,511 | $ | 14,916 | (6)(15) | ||||||||||||||||||||||||||||||||||||||
14,641 | 15,105 | 14,511 | 14,916 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aden & Anais Merger Sub, Inc. | Aden & Anais Merger Sub, Inc. | Apparel, Accessories & Luxury Goods | Aden & Anais Merger Sub, Inc. | Apparel, Accessories & Luxury Goods | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
51,645 Common Units in Aden & Anais Holdings, Inc. | 51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | — | (15) | 51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
5,165 | — | 5,165 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
AI Sirona (Luxembourg) Acquisition S.a.r.l. | AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | 7.25 | % | € | 24,838 | 27,732 | 28,222 | (6)(11)(15) | Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | 7.25 | % | € | 24,838 | 27,742 | 27,198 | (6)(11)(15) | ||||||||||||||||||||||||||||||||||||||||||
27,732 | 28,222 | 27,742 | 27,198 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
AIP RD Buyer Corp. | AIP RD Buyer Corp. | Distributors | AIP RD Buyer Corp. | Distributors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, SOFR+7.75% cash due 12/23/2029 | Second Lien Term Loan, SOFR+7.75% cash due 12/23/2029 | 8.75 | % | $ | 14,414 | 14,127 | 14,126 | (6)(15) | Second Lien Term Loan, SOFR+7.75% cash due 12/23/2029 | 8.75 | % | $ | 14,414 | 14,136 | 14,126 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||
14,410 Common Units in RD Holding LP | 14,410 Common Units in RD Holding LP | 1,441 | 1,441 | (15) | 14,410 Common Units in RD Holding LP | 1,352 | 1,365 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
15,568 | 15,567 | 15,488 | 15,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
AirStrip Technologies, Inc. | AirStrip Technologies, Inc. | Application Software | AirStrip Technologies, Inc. | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 90 | — | (15) | 5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 90 | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
90 | — | 90 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
All Web Leads, Inc. | All Web Leads, Inc. | Advertising | All Web Leads, Inc. | Advertising | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/29/2023 | First Lien Term Loan, LIBOR+6.50% cash due 12/29/2023 | 7.50 | % | 23,641 | 21,550 | 22,744 | (6)(15) | First Lien Term Loan, LIBOR+6.50% cash due 12/29/2023 | 7.50 | % | 23,382 | 21,566 | 22,456 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
21,550 | 22,744 | 21,566 | 22,456 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Altice France S.A. | Altice France S.A. | Integrated Telecommunication Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond, 5.50% cash due 10/15/2029 | Fixed Rate Bond, 5.50% cash due 10/15/2029 | 1,000 | 873 | 899 | (11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
873 | 899 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alvogen Pharma US, Inc. | Alvogen Pharma US, Inc. | Pharmaceuticals | Alvogen Pharma US, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | 13,650 | 13,216 | 13,087 | (6) | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.26 | % | 13,475 | 13,099 | 12,641 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
13,216 | 13,087 | 13,099 | 12,641 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alvotech Holdings S.A. | Alvotech Holdings S.A. | Biotechnology | (13) | Alvotech Holdings S.A. | Biotechnology | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Tranche A due 6/24/2025 | Fixed Rate Bond 15% PIK Tranche A due 6/24/2025 | 20,967 | 22,243 | 22,717 | (11)(15) | Fixed Rate Bond 15% PIK Tranche A due 6/24/2025 | 20,967 | 23,045 | 23,378 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Tranche B due 6/24/2025 | Fixed Rate Bond 15% PIK Tranche B due 6/24/2025 | 20,512 | 21,798 | 22,225 | (11)(15) | Fixed Rate Bond 15% PIK Tranche B due 6/24/2025 | 20,512 | 22,581 | 22,871 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||
43,889 Common Shares | 43,889 Common Shares | 6,323 | 6,277 | (15) | 43,889 Common Shares | 6,323 | 6,277 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
51,949 | 52,526 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Auto Auction Group, LLC | American Auto Auction Group, LLC | Consumer Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, SOFR+8.75% cash due 1/2/2029 | Second Lien Term Loan, SOFR+8.75% cash due 1/2/2029 | 9.50 | % | 14,760 | 14,471 | 14,539 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
50,364 | 51,219 | 14,471 | 14,539 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Tire Distributors, Inc. | American Tire Distributors, Inc. | Distributors | American Tire Distributors, Inc. | Distributors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | 7.00 | % | 9,945 | 9,821 | 10,027 | (6) | First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | 7.00 | % | 9,945 | 9,821 | 9,883 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
9,821 | 10,027 | 9,821 | 9,883 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amplify Finco Pty Ltd. | Amplify Finco Pty Ltd. | Movies & Entertainment | Amplify Finco Pty Ltd. | Movies & Entertainment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | 15,337 | 13,856 | 14,902 | (6)(11)(15) | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | 15,298 | 13,894 | 14,903 | (6)(11)(15) | ||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | 8.75 | % | 12,500 | 12,188 | 12,062 | (6)(11)(15) | Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | 8.75 | % | 12,500 | 12,188 | 12,000 | (6)(11)(15) | ||||||||||||||||||||||||||||||||||||||||||||
26,044 | 26,964 | 26,082 | 26,903 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ankura Consulting Group LLC | Ankura Consulting Group LLC | Research & Consulting Services | Ankura Consulting Group LLC | Research & Consulting Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 3/19/2029 | Second Lien Term Loan, LIBOR+8.00% cash due 3/19/2029 | 8.75 | % | 7,466 | 7,354 | 7,541 | (6)(15) | Second Lien Term Loan, LIBOR+8.00% cash due 3/19/2029 | 8.75 | % | 5,316 | 5,236 | 5,276 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
7,354 | 7,541 | 5,236 | 5,276 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apptio, Inc. | Apptio, Inc. | Application Software | Apptio, Inc. | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 34,458 | 33,502 | 34,186 | (6)(15) | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 34,458 | 33,578 | 34,186 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 892 | 853 | 875 | (6)(15)(19) | First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 892 | 856 | 875 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||
34,355 | 35,061 | 34,434 | 35,061 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | Insurance Brokers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, EURIBOR+6.75% cash due 7/14/2026 | 7.75 | % | € | 1,964 | 2,179 | 2,256 | (6)(11)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, UK LIBOR+6.75% cash due 7/14/2026 | 7.50 | % | £ | 18,636 | 23,268 | 25,494 | (6)(11)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 7/14/2026 | 6.25 | % | $ | 10,519 | 10,325 | 10,373 | (6)(11)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, SONIA+5.50% cash due 7/14/2026 | £ | — | (44) | — | (6)(11)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
35,728 | 38,123 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC | Construction Materials | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 4/5/2024 | 6.25 | % | $ | 2,524 | 2,267 | 2,227 | (6) | |||||||||||||||||||||||||||||||||||||||||||||||||||
2,267 | 2,227 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Astra Acquisition Corp. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028 | 5.75 | % | $ | 5,000 | $ | 4,829 | $ | 4,921 | (6) | ||||||||||||||||||||
4,829 | 4,921 | ||||||||||||||||||||||||||||
Athenex, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 6/19/2026 | 42,145 | 40,566 | 41,618 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026 | — | (274) | (263) | (11)(15)(19) | |||||||||||||||||||||||||
328,149 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027 | 973 | 33 | (11)(15) | ||||||||||||||||||||||||||
41,265 | 41,388 | ||||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | 22,598 | 22,196 | 21,400 | (6)(11)(15) | |||||||||||||||||||||||
22,196 | 21,400 | ||||||||||||||||||||||||||||
The Avery | Real Estate Operating Companies | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan in T8 Urban Condo Owner, LLC, LIBOR+7.30% cash due 2/17/2023 | 7.55 | % | 18,550 | 18,295 | 18,742 | (6)(15)(19) | |||||||||||||||||||||||
Subordinated Delayed Draw Debt in T8 Senior Mezz LLC, LIBOR+12.50% cash due 2/17/2023 | 12.75 | % | 4,367 | 4,311 | 4,368 | (6)(15) | |||||||||||||||||||||||
22,606 | 23,110 | ||||||||||||||||||||||||||||
BAART Programs, Inc. | Health Care Services | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | 1,196 | 1,152 | 1,173 | (6)(15)(19) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 6/11/2028 | 9.50 | % | 7,166 | 7,059 | 7,130 | (6)(15) | |||||||||||||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 6/11/2028 | (163) | (55) | (6)(15)(19) | ||||||||||||||||||||||||||
8,048 | 8,248 | ||||||||||||||||||||||||||||
Berner Food & Beverage, LLC | Soft Drinks | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 7/30/2027 | 7.50 | % | 33,329 | 32,787 | 32,762 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 7/30/2027 | 7.50 | % | 1,299 | 1,249 | 1,247 | (6)(15)(19) | |||||||||||||||||||||||
34,036 | 34,009 | ||||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 7.13 | % | 30,625 | 30,206 | 30,529 | (6) | |||||||||||||||||||||||
30,206 | 30,529 | ||||||||||||||||||||||||||||
Blumenthal Temecula, LLC | Automotive Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 9/24/2023 | 3,979 | 3,980 | 3,979 | (15) | |||||||||||||||||||||||||
1,293,324 Preferred Units in Unstoppable Automotive AMV, LLC | 1,293 | 1,293 | (15) | ||||||||||||||||||||||||||
298,460 Preferred Units in Unstoppable Automotive VMV, LLC | 298 | 298 | (15) | ||||||||||||||||||||||||||
298,460 Common Units in Unstoppable Automotive AMV, LLC | 298 | 298 | (15) | ||||||||||||||||||||||||||
99,486 Common Units in Unstoppable Automotive VMV, LLC | 100 | 99 | (15) | ||||||||||||||||||||||||||
5,969 | 5,967 | ||||||||||||||||||||||||||||
Cadence Aerospace, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash 2.00% PIK due 11/14/2023 | 7.50 | % | 14,183 | 12,806 | 13,026 | (6)(15) | |||||||||||||||||||||||
12,806 | 13,026 | ||||||||||||||||||||||||||||
Chief Power Finance II, LLC | Independent Power Producers & Energy Traders | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/31/2022 | 7.50 | % | 19,733 | 19,476 | 19,713 | (6)(15) | |||||||||||||||||||||||
19,476 | 19,713 | ||||||||||||||||||||||||||||
CircusTrix Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 2.50% PIK due 7/16/2023 | 6.50 | % | 10,736 | 9,925 | 8,977 | (6)(15)(19) | |||||||||||||||||||||||
9,925 | 8,977 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Ardonagh Midco 3 PLC | Insurance Brokers | ||||||||||||||||||||||||||||
First Lien Term Loan, EURIBOR+7.00% cash due 7/14/2026 | 8.00 | % | € | 1,964 | $ | 2,179 | $ | 2,208 | (6)(11)(15) | ||||||||||||||||||||
First Lien Term Loan, SONIA+7.00% cash due 7/14/2026 | 7.75 | % | £ | 18,636 | 23,213 | 24,783 | (6)(11)(15) | ||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/14/2026 | 6.50 | % | $ | 10,519 | 10,335 | 10,403 | (6)(11)(15) | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, SONIA+5.75% cash due 7/14/2026 | £ | — | (44) | — | (6)(11)(15)(19) | ||||||||||||||||||||||||
35,683 | 37,394 | ||||||||||||||||||||||||||||
ASP Unifrax Holdings, Inc. | Trading Companies & Distributors | ||||||||||||||||||||||||||||
Fixed Rate Bond, 7.50% cash due 9/30/2029 | $ | 5,500 | 5,403 | 4,902 | |||||||||||||||||||||||||
5,403 | 4,902 | ||||||||||||||||||||||||||||
Associated Asphalt Partners, LLC | Construction Materials | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 4/5/2024 | 6.25 | % | 2,516 | 2,288 | 2,074 | (6) | |||||||||||||||||||||||
2,288 | 2,074 | ||||||||||||||||||||||||||||
Astra Acquisition Corp. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028 | 5.75 | % | 9,476 | 9,192 | 9,222 | (6) | |||||||||||||||||||||||
9,192 | 9,222 | ||||||||||||||||||||||||||||
athenahealth Group Inc. | Health Care Technology | ||||||||||||||||||||||||||||
18,635 Shares of Series A Preferred Stock in Minerva Holdco, Inc., 10.75% | 18,264 | 18,477 | (15) | ||||||||||||||||||||||||||
18,264 | 18,477 | ||||||||||||||||||||||||||||
Athenex, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 6/19/2026 | 35,121 | 33,876 | 34,243 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026 | — | (274) | (527) | (11)(15)(19) | |||||||||||||||||||||||||
164,074.5 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027 | 486 | 2 | (11)(15) | ||||||||||||||||||||||||||
164,074.5 Common Stock Warrants (exercise price $1.10) expiration date 6/19/2027 | 486 | 48 | (11)(15) | ||||||||||||||||||||||||||
34,574 | 33,766 | ||||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | 22,540 | 22,159 | 21,255 | (6)(11)(15) | |||||||||||||||||||||||
22,159 | 21,255 | ||||||||||||||||||||||||||||
The Avery | Real Estate Operating Companies | ||||||||||||||||||||||||||||
First Lien Term Loan in T8 Urban Condo Owner, LLC, LIBOR+7.30% cash due 2/17/2023 | 7.75 | % | 16,407 | 16,238 | 16,463 | (6)(15) | |||||||||||||||||||||||
Subordinated Delayed Draw Debt in T8 Senior Mezz LLC, LIBOR+12.50% cash due 2/17/2023 | 13.42 | % | 3,925 | 3,887 | 3,931 | (6)(15)(19) | |||||||||||||||||||||||
20,125 | 20,394 | ||||||||||||||||||||||||||||
BAART Programs, Inc. | Health Care Services | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | 2,272 | 2,229 | 2,218 | (6)(15)(19) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 6/11/2028 | 9.51 | % | 7,166 | 7,059 | 7,059 | (6)(15) | |||||||||||||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 6/11/2028 | 9.50 | % | 3,596 | 3,435 | 3,430 | (6)(15)(19) | |||||||||||||||||||||||
12,723 | 12,707 | ||||||||||||||||||||||||||||
Berner Food & Beverage, LLC | Soft Drinks | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 7/30/2027 | 7.50 | % | 33,245 | 32,729 | 32,477 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 7/30/2026 | 7.50 | % | 1,423 | 1,376 | 1,362 | (6)(15)(19) | |||||||||||||||||||||||
34,105 | 33,839 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||||||||||||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | Blackhawk Network Holdings, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 7.44 | % | $ | 30,625 | $ | 30,228 | $ | 30,344 | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||
30,228 | 30,344 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Blumenthal Temecula, LLC | Blumenthal Temecula, LLC | Automotive Retail | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 9/24/2023 | First Lien Term Loan, 9.00% cash due 9/24/2023 | 3,979 | 3,980 | 3,979 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1,293,324 Preferred Units in Unstoppable Automotive AMV, LLC | 1,293,324 Preferred Units in Unstoppable Automotive AMV, LLC | 1,293 | 1,293 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
298,460 Preferred Units in Unstoppable Automotive VMV, LLC | 298,460 Preferred Units in Unstoppable Automotive VMV, LLC | 298 | 298 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
298,460 Common Units in Unstoppable Automotive AMV, LLC | 298,460 Common Units in Unstoppable Automotive AMV, LLC | 298 | 298 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5,869 | 5,868 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cadence Aerospace, LLC | Cadence Aerospace, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash 2.00% PIK due 11/14/2023 | First Lien Term Loan, LIBOR+6.50% cash 2.00% PIK due 11/14/2023 | 7.50 | % | 14,221 | 13,024 | 13,060 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
13,024 | 13,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CircusTrix Holdings, LLC | CircusTrix Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 2.50% PIK due 7/16/2023 | First Lien Term Loan, LIBOR+5.50% cash 2.50% PIK due 7/16/2023 | 6.50 | % | 10,819 | 10,141 | 9,604 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
10,141 | 9,604 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CITGO Holding, Inc. | CITGO Holding, Inc. | Oil & Gas Refining & Marketing | CITGO Holding, Inc. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 8.00 | % | $ | 9,111 | $ | 9,026 | $ | 9,007 | (6) | First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 8.00 | % | 9,088 | 9,016 | 8,995 | (6) | |||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond, 9.25% cash due 8/1/2024 | Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 10,737 | Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 10,791 | ||||||||||||||||||||||||||||||||||||||||||||||||||
19,698 | 19,744 | 19,688 | 19,786 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
CITGO Petroleum Corp. | CITGO Petroleum Corp. | Oil & Gas Refining & Marketing | CITGO Petroleum Corp. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | 8,311 | 8,073 | 8,321 | (6) | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | 8,290 | 8,073 | 8,285 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
8,073 | 8,321 | 8,073 | 8,285 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Clear Channel Outdoor Holdings Inc. | Clear Channel Outdoor Holdings Inc. | Advertising | Clear Channel Outdoor Holdings Inc. | Advertising | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond, 7.50% cash due 6/1/2029 | Fixed Rate Bond, 7.50% cash due 6/1/2029 | 6,476 | 6,476 | 6,924 | (11) | Fixed Rate Bond, 7.50% cash due 6/1/2029 | 6,476 | 6,476 | 6,470 | (11) | ||||||||||||||||||||||||||||||||||||||||||||||||
6,476 | 6,924 | 6,476 | 6,470 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Brands Parentco, LLC | Application Software | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022 | — | (9) | (9) | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023 | 10.25 | % | 11,000 | 10,868 | 10,906 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CommScope Technologies LLC | CommScope Technologies LLC | Communications Equipment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond, 5.00% cash due 3/15/2027 | Fixed Rate Bond, 5.00% cash due 3/15/2027 | 1,000 | 841 | 871 | (11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
841 | 871 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condor Merger Sub Inc. | Condor Merger Sub Inc. | Systems Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond, 7.375% cash due 2/15/2030 | Fixed Rate Bond, 7.375% cash due 2/15/2030 | 6,170 | 6,154 | 5,927 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10,859 | 10,897 | 6,154 | 5,927 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Continental Intermodal Group LP | Continental Intermodal Group LP | Oil & Gas Storage & Transportation | Continental Intermodal Group LP | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 1/28/2025 | First Lien Term Loan, LIBOR+8.50% cash due 1/28/2025 | 9.50 | % | 38,327 | 36,319 | 32,195 | (6)(15) | First Lien Term Loan, LIBOR+8.50% cash due 1/28/2025 | 9.50 | % | 37,779 | 35,955 | 31,734 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
Common Stock Warrants expiration date 7/28/2025 | Common Stock Warrants expiration date 7/28/2025 | 648 | 1,782 | (15) | Common Stock Warrants expiration date 7/28/2025 | 648 | 1,782 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
36,967 | 33,977 | 36,603 | 33,516 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convergeone Holdings, Inc. | Convergeone Holdings, Inc. | IT Consulting & Other Services | Convergeone Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.10 | % | 7,006 | 6,841 | 6,877 | (6) | First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.46 | % | 11,975 | 11,724 | 11,501 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
6,841 | 6,877 | 11,724 | 11,501 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conviva Inc. | Conviva Inc. | Application Software | Conviva Inc. | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
517,851 Shares of Series D Preferred Stock | 517,851 Shares of Series D Preferred Stock | 605 | 894 | (15) | 517,851 Shares of Series D Preferred Stock | 605 | 894 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
605 | 894 | 605 | 894 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
CorEvitas, LLC | CorEvitas, LLC | Health Care Services | CorEvitas, LLC | Health Care Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 10,170 | 10,053 | 10,096 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 1,938 | 1,889 | 1,911 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, SOFR+5.75% cash due 12/13/2025 | First Lien Term Loan, SOFR+5.75% cash due 12/13/2025 | 6.75 | % | 13,782 | 13,609 | 13,681 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, PRIME+4.50% cash due 12/13/2025 | First Lien Revolver, PRIME+4.50% cash due 12/13/2025 | 7.75 | % | 305 | 284 | 292 | (6)(15)(19) | First Lien Revolver, PRIME+4.50% cash due 12/13/2025 | — | (20) | (13) | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||
1,099 Class A2 Common Units in CorEvitas Holdings, L.P. | 1,099 Class A2 Common Units in CorEvitas Holdings, L.P. | 1,038 | 2,687 | (15) | 1,099 Class A2 Common Units in CorEvitas Holdings, L.P. | 690 | 2,340 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
13,264 | 14,986 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coty Inc. | Personal Products | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+1.75% cash due 4/5/2023 | — | (712) | (148) | (6)(11)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(712) | (148) | 14,279 | 16,008 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coyote Buyer, LLC | Coyote Buyer, LLC | Specialty Chemicals | Coyote Buyer, LLC | Specialty Chemicals | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026 | First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026 | 7.00 | % | 18,340 | 17,864 | 18,179 | (6)(15) | First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026 | 7.00 | % | 18,293 | 17,839 | 18,132 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 2/6/2025 | First Lien Revolver, LIBOR+6.00% cash due 2/6/2025 | — | (13) | (12) | (6)(15)(19) | First Lien Revolver, LIBOR+6.00% cash due 2/6/2025 | — | (13) | (12) | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||
17,851 | 18,167 | 17,826 | 18,120 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Curium Bidco S.à.r.l. | Biotechnology | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 10/27/2028 | 8.50 | % | 16,787 | 16,535 | 16,976 | (6)(11) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
16,535 | 16,976 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Delta Topco, Inc. | Systems Software | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | 8.00 | % | 6,680 | 6,647 | 6,745 | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
6,647 | 6,745 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dialyze Holdings, LLC | Health Care Equipment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 2.00% PIK due 8/4/2026 | 8.00 | % | 24,216 | 22,650 | 22,642 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash 2.00% PIK due 8/4/2026 | — | (161) | (154) | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5,403,823 Class A Warrants (exercise price $1.00) expiration date 8/4/2028 | 1,405 | 1,351 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
23,894 | 23,839 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digital.AI Software Holdings, Inc. | Application Software | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 2/10/2027 | 8.00 | % | 9,978 | 9,621 | 9,768 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/10/2027 | 8.00 | % | 359 | 332 | 336 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
9,953 | 10,104 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||||||||||||||||||||||||||||||||||||
Curium Bidco S.à.r.l. | Curium Bidco S.à.r.l. | Biotechnology | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 10/27/2028 | Second Lien Term Loan, LIBOR+7.75% cash due 10/27/2028 | 8.76 | % | $ | 16,787 | $ | 16,535 | $ | 16,640 | (6)(11) | ||||||||||||||||||||||||||||||||||||||||||||||||
16,535 | 16,640 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Delta Topco, Inc. | Delta Topco, Inc. | Systems Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | 8.00 | % | 6,680 | 6,647 | 6,591 | (6) | |||||||||||||||||||||||||||||||||||||||||||||||||||
6,647 | 6,591 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dialyze Holdings, LLC | Dialyze Holdings, LLC | Health Care Equipment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.00% cash 0.50% PIK due 8/4/2026 | First Lien Term Loan, LIBOR+9.00% cash 0.50% PIK due 8/4/2026 | 10.01 | % | 24,241 | 22,757 | 22,665 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+9.00% cash 0.50% PIK due 8/4/2026 | First Lien Delayed Draw Term Loan, LIBOR+9.00% cash 0.50% PIK due 8/4/2026 | — | (153) | (154) | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5,403,823 Class A Warrants (exercise price $1.00) expiration date 8/4/2028 | 5,403,823 Class A Warrants (exercise price $1.00) expiration date 8/4/2028 | 1,405 | 1,351 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
24,009 | 23,862 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digital.AI Software Holdings, Inc. | Digital.AI Software Holdings, Inc. | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 2/10/2027 | First Lien Term Loan, LIBOR+7.00% cash due 2/10/2027 | 8.00 | % | 9,952 | 9,613 | 9,753 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 2/10/2027 | First Lien Revolver, LIBOR+6.50% cash due 2/10/2027 | 7.50 | % | 359 | 333 | 337 | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||
9,946 | 10,090 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DirecTV Financing, LLC | DirecTV Financing, LLC | Cable & Satellite | DirecTV Financing, LLC | Cable & Satellite | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75 | % | $ | 18,573 | $ | 18,387 | $ | 18,614 | (6) | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75 | % | 18,145 | 17,964 | 18,149 | (6) | |||||||||||||||||||||||||||||||||||||||||
18,387 | 18,614 | 17,964 | 18,149 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eagleview Technology Corporation | Eagleview Technology Corporation | Application Software | Eagleview Technology Corporation | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 8.50 | % | 8,974 | 8,884 | 8,862 | (6)(15) | Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 8.51 | % | 8,974 | 8,884 | 8,794 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
8,884 | 8,862 | 8,884 | 8,794 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
EHR Canada, LLC | Food Retail | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 2/28/2022 | 9.00 | % | 2,500 | 2,498 | 2,498 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2,498 | 2,498 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EOS Fitness Opco Holdings, LLC | EOS Fitness Opco Holdings, LLC | Leisure Facilities | EOS Fitness Opco Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
487.5 Class A Preferred Units, 12% | 487.5 Class A Preferred Units, 12% | 488 | 320 | (15) | 487.5 Class A Preferred Units, 12% | 488 | 467 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
12,500 Class B Common Units | 12,500 Class B Common Units | — | — | (15) | 12,500 Class B Common Units | — | — | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
488 | 467 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairbridge Strategic Capital Funding LLC | Fairbridge Strategic Capital Funding LLC | Real Estate Operating Companies | (20) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 9.00% cash due 12/24/2028 | First Lien Delayed Draw Term Loan, 9.00% cash due 12/24/2028 | 7,150 | 7,150 | 7,150 | (15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2,500 Warrant Units (exercise price $0.01) expiration date 11/24/2031 | 2,500 Warrant Units (exercise price $0.01) expiration date 11/24/2031 | — | 3 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
488 | 320 | 7,150 | 7,153 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
FINThrive Software Intermediate Holdings, Inc. | FINThrive Software Intermediate Holdings, Inc. | Health Care Technology | FINThrive Software Intermediate Holdings, Inc. | Health Care Technology | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 12/17/2029 | Second Lien Term Loan, LIBOR+6.75% cash due 12/17/2029 | 7.25 | % | 25,061 | 24,685 | 25,053 | (6) | Second Lien Term Loan, LIBOR+6.75% cash due 12/17/2029 | 7.25 | % | 25,061 | 24,685 | 24,760 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
24,685 | 25,053 | 24,685 | 24,760 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Firstlight Holdco, Inc. | Firstlight Holdco, Inc. | Alternative Carriers | Firstlight Holdco, Inc. | Alternative Carriers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 7/23/2025 | First Lien Term Loan, LIBOR+3.50% cash due 7/23/2025 | 3.60 | % | 4,999 | 4,710 | 4,949 | (6) | First Lien Term Loan, LIBOR+3.50% cash due 7/23/2025 | 3.96 | % | 4,986 | 4,718 | 4,846 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
4,710 | 4,949 | 4,718 | 4,846 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fortress Biotech, Inc. | Fortress Biotech, Inc. | Biotechnology | Fortress Biotech, Inc. | Biotechnology | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 8/27/2025 | First Lien Term Loan, 11.00% cash due 8/27/2025 | 9,466 | 8,970 | 9,371 | (11)(15) | First Lien Term Loan, 11.00% cash due 8/27/2025 | 9,466 | 9,003 | 9,324 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||
331,200 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030 | 331,200 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030 | 405 | 189 | (11)(15) | 331,200 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030 | 405 | 113 | (11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
9,375 | 9,560 | 9,408 | 9,437 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Frontier Communications Holdings, LLC | Frontier Communications Holdings, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Bond, 6.00% cash due 1/15/2030 | Fixed Rate Bond, 6.00% cash due 1/15/2030 | 2,000 | 1,858 | 1,853 | (11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1,858 | 1,853 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GKD Index Partners, LLC | GKD Index Partners, LLC | Specialized Finance | GKD Index Partners, LLC | Specialized Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 6/29/2023 | 9.50 | % | 26,052 | 25,611 | 25,557 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+8.50% cash due 6/29/2023 | 9.50 | % | 1,280 | 1,255 | 1,248 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 6/29/2023 | First Lien Term Loan, LIBOR+8.00% cash due 6/29/2023 | 9.01 | % | 25,744 | 25,379 | 25,255 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 6/29/2023 | First Lien Revolver, LIBOR+8.00% cash due 6/29/2023 | 9.00 | % | 1,280 | 1,259 | 1,248 | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||
26,866 | 26,805 | 26,638 | 26,503 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Global Medical Response, Inc. | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | 5,616 | 5,435 | 5,603 | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5,435 | 5,603 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | Education Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25 | % | 1,007 | 983 | 1,007 | (6)(11) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
983 | 1,007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
iCIMs, Inc. | Application Software | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 25,635 | 25,077 | 25,547 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 1,176 | 1,150 | 1,172 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
26,227 | 26,719 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Immucor, Inc. | Health Care Supplies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/2/2025 | 6.75 | % | 8,635 | 8,419 | 8,505 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash 3.50% PIK due 10/2/2025 | 9.00 | % | 22,029 | 21,459 | 21,809 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
29,878 | 30,314 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Integral Development Corporation | Other Diversified Financial Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
113 | — |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Inventus Power, Inc. | Electrical Components & Equipment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/29/2024 | 6.00 | % | $ | 18,802 | $ | 18,662 | $ | 18,620 | (6)(15) | ||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2024 | 9.50 | % | 13,674 | 13,455 | 13,437 | (6)(15) | |||||||||||||||||||||||
32,117 | 32,057 | ||||||||||||||||||||||||||||
INW Manufacturing, LLC | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.50 | % | 36,797 | 35,809 | 36,061 | (6)(15) | |||||||||||||||||||||||
35,809 | 36,061 | ||||||||||||||||||||||||||||
IPC Corp. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 10/1/2026 | 7.50 | % | 34,271 | 33,390 | 33,414 | (6)(15) | |||||||||||||||||||||||
33,390 | 33,414 | ||||||||||||||||||||||||||||
Itafos Inc. | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.25% cash due 8/25/2024 | 9.25 | % | 21,662 | 20,899 | 20,861 | (6)(15) | |||||||||||||||||||||||
20,899 | 20,861 | ||||||||||||||||||||||||||||
Ivanti Software, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | 7.75 | % | 10,247 | 10,196 | 10,273 | (6) | |||||||||||||||||||||||
10,196 | 10,273 | ||||||||||||||||||||||||||||
Jazz Acquisition, Inc. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 1/29/2027 | 8.50 | % | 36,511 | 35,264 | 36,920 | (6)(15) | |||||||||||||||||||||||
35,264 | 36,920 | ||||||||||||||||||||||||||||
LaserShip, Inc. | Air Freight & Logistics | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 5/7/2029 | 8.25 | % | 4,787 | 4,739 | 4,829 | (6)(15) | |||||||||||||||||||||||
4,739 | 4,829 | ||||||||||||||||||||||||||||
Latam Airlines Group S.A. | Airlines | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+11.00% PIK due 3/29/2022 | 16,776 | 16,703 | 16,956 | (6)(11)(15)(19) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.50% PIK due 3/29/2022 | 4,629 | 4,585 | 4,571 | (6)(11)(15)(19) | |||||||||||||||||||||||||
21,288 | 21,527 | ||||||||||||||||||||||||||||
Lift Brands Holdings, Inc. | Leisure Facilities | ||||||||||||||||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 1,399 | — | (15) | ||||||||||||||||||||||||||
1,399 | — | ||||||||||||||||||||||||||||
Lightbox Intermediate, L.P. | Real Estate Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 5.22 | % | 41,326 | 40,396 | 40,810 | (6)(15) | |||||||||||||||||||||||
40,396 | 40,810 | ||||||||||||||||||||||||||||
Liquid Environmental Solutions Corporation | Environmental & Facilities Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 11/30/2026 | 9.50 | % | 4,357 | 4,272 | 4,270 | (6)(15) | |||||||||||||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 11/30/2026 | 9.50 | % | 1,162 | 1,139 | 1,092 | (6)(15)(19) | |||||||||||||||||||||||
5,411 | 5,362 | ||||||||||||||||||||||||||||
LTI Holdings, Inc. | Electronic Components | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 6.85 | % | 2,140 | 2,083 | 2,135 | (6) | |||||||||||||||||||||||
2,083 | 2,135 | ||||||||||||||||||||||||||||
Marinus Pharmaceuticals, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.50% cash due 5/11/2026 | 3,441 | 3,381 | 3,391 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.50% cash due 5/11/2026 | 6,881 | 6,762 | 6,781 | (11)(15)(19) | |||||||||||||||||||||||||
10,143 | 10,172 | ||||||||||||||||||||||||||||
Mayfield Agency Borrower Inc. | Property & Casualty Insurance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025 | 4.60 | % | 6,931 | 6,878 | 6,918 | (6) | |||||||||||||||||||||||
6,878 | 6,918 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Global Medical Response, Inc. | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | $ | 5,601 | $ | 5,434 | $ | 5,576 | (6) | ||||||||||||||||||||
5,434 | 5,576 | ||||||||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | Education Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25 | % | 1,007 | 985 | 1,004 | (6)(11) | |||||||||||||||||||||||
985 | 1,004 | ||||||||||||||||||||||||||||
iCIMs, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 25,635 | 25,127 | 25,547 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 1,176 | 1,152 | 1,172 | (6)(15) | |||||||||||||||||||||||
26,279 | 26,719 | ||||||||||||||||||||||||||||
Immucor, Inc. | Health Care Supplies | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/2/2025 | 6.76 | % | 8,613 | 8,413 | 8,462 | (6)(15) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash 3.50% PIK due 10/2/2025 | 9.01 | % | 22,222 | 21,689 | 21,944 | (6)(15) | |||||||||||||||||||||||
30,102 | 30,406 | ||||||||||||||||||||||||||||
Impel Neuropharma, Inc. | Health Care Technology | ||||||||||||||||||||||||||||
First Lien Revenue Interest Financing Term Loan due 2/15/2031 | 12,161 | 12,161 | 12,161 | (6)(15) | |||||||||||||||||||||||||
First Lien Term Loan, SOFR+8.75% cash due 3/17/2027 | 9.75 | % | 12,161 | 11,919 | 11,917 | (6)(15) | |||||||||||||||||||||||
24,080 | 24,078 | ||||||||||||||||||||||||||||
Innocoll Pharmaceuticals Limited | Health Care Technology | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 1/26/2027 | 6,817 | 6,522 | 6,533 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.00% cash due 1/26/2027 | — | — | — | (11)(15)(19) | |||||||||||||||||||||||||
56,999 Tranche A Warrant Shares (exercise price $4.23) expiration date 1/26/2029 | 135 | 141 | (11)(15) | ||||||||||||||||||||||||||
6,657 | 6,674 | ||||||||||||||||||||||||||||
Integral Development Corporation | Other Diversified Financial Services | ||||||||||||||||||||||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | (15) | ||||||||||||||||||||||||||
113 | — | ||||||||||||||||||||||||||||
Inventus Power, Inc. | Electrical Components & Equipment | ||||||||||||||||||||||||||||
First Lien Term Loan, SOFR+5.00% cash due 3/29/2024 | 6.00 | % | 18,755 | 18,630 | 18,239 | (6)(15) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2024 | 9.50 | % | 13,674 | 13,474 | 13,195 | (6)(15) | |||||||||||||||||||||||
32,104 | 31,434 | ||||||||||||||||||||||||||||
INW Manufacturing, LLC | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.76 | % | 36,563 | 35,625 | 35,831 | (6)(15) | |||||||||||||||||||||||
35,625 | 35,831 | ||||||||||||||||||||||||||||
IPC Corp. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 10/1/2026 | 7.50 | % | 34,185 | 33,351 | 33,245 | (6)(15) | |||||||||||||||||||||||
33,351 | 33,245 | ||||||||||||||||||||||||||||
Itafos Inc. | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.25% cash due 8/25/2024 | 9.25 | % | 17,861 | 17,289 | 17,218 | (6)(15) | |||||||||||||||||||||||
17,289 | 17,218 | ||||||||||||||||||||||||||||
Ivanti Software, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | 7.77 | % | 10,247 | 10,196 | 10,145 | (6) | |||||||||||||||||||||||
10,196 | 10,145 | ||||||||||||||||||||||||||||
Jazz Acquisition, Inc. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 1/29/2027 | 8.50 | % | 36,419 | 35,231 | 36,622 | (6)(15) | |||||||||||||||||||||||
35,231 | 36,622 | ||||||||||||||||||||||||||||
Kings Buyer, LLC | Environmental & Facilities Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 10/29/2027 | 7.50 | % | 13,692 | 13,555 | 13,487 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 10/29/2027 | 7.50 | % | 659 | 640 | 631 | (6)(15)(19) | |||||||||||||||||||||||
14,195 | 14,118 | ||||||||||||||||||||||||||||
LaserShip, Inc. | Air Freight & Logistics | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 5/7/2029 | 8.25 | % | 4,787 | 4,739 | 4,775 | (6)(15) | |||||||||||||||||||||||
4,739 | 4,775 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Mesoblast, Inc. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 8.00% cash 1.75% PIK due 11/19/2026 | $ | 7,121 | $ | 6,928 | $ | 6,927 | (11)(15) | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 8.00% cash 1.75% PIK due 11/19/2026 | — | 1 | 2 | (11)(15)(19) | |||||||||||||||||||||||||
6,929 | 6,929 | ||||||||||||||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/21/2027 | 6.75 | % | 16,388 | 16,085 | 16,074 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.75% cash due 7/21/2027 | 6.75 | % | 1,234 | 1,201 | 1,212 | (6)(15)(19) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 7/21/2027 | — | (25) | (27) | (6)(15)(19) | |||||||||||||||||||||||||
17,261 | 17,259 | ||||||||||||||||||||||||||||
Mindbody, Inc. | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025 | 8.00 | % | 45,144 | 43,863 | 44,377 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | — | (70) | (68) | (6)(15)(19) | |||||||||||||||||||||||||
43,793 | 44,309 | ||||||||||||||||||||||||||||
Mosaic Companies, LLC | Home Improvement Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 7/2/2026 | 7.75 | % | 47,092 | 46,245 | 46,150 | (6)(15) | |||||||||||||||||||||||
46,245 | 46,150 | ||||||||||||||||||||||||||||
MRI Software LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | 28,180 | 27,668 | 28,158 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | — | (13) | (1) | (6)(15)(19) | |||||||||||||||||||||||||
27,655 | 28,157 | ||||||||||||||||||||||||||||
Navisite, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 12/30/2026 | 9.50 | % | 22,560 | 22,185 | 22,041 | (6)(15) | |||||||||||||||||||||||
22,185 | 22,041 | ||||||||||||||||||||||||||||
NeuAG, LLC | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | 7.00 | % | 47,872 | 46,273 | 47,011 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | — | (200) | (98) | (6)(15)(19) | |||||||||||||||||||||||||
46,073 | 46,913 | ||||||||||||||||||||||||||||
NN, Inc. | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.88% cash due 9/19/2026 | 7.88 | % | 59,160 | 57,894 | 57,977 | (6)(11)(15) | |||||||||||||||||||||||
57,894 | 57,977 | ||||||||||||||||||||||||||||
OEConnection LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.10 | % | 3,349 | 3,157 | 3,344 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 9/25/2027 | 7.50 | % | 7,519 | 7,370 | 7,369 | (6)(15) | |||||||||||||||||||||||
10,527 | 10,713 | ||||||||||||||||||||||||||||
Olaplex, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026 | 7.25 | % | 51,783 | 50,644 | 51,912 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.25% cash due 1/8/2025 | — | (54) | (27) | (6)(15)(19) | |||||||||||||||||||||||||
50,590 | 51,885 | ||||||||||||||||||||||||||||
OTG Management, LLC | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+2.00% cash 8.00% PIK due 9/1/2025 | 3.00 | % | 20,296 | 19,932 | 19,890 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+2.00% cash 8.00% PIK due 9/1/2025 | — | (36) | (38) | (6)(15)(19) | |||||||||||||||||||||||||
19,896 | 19,852 | ||||||||||||||||||||||||||||
P & L Development, LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Bond, 7.75% cash due 11/15/2025 | 7,776 | 7,829 | 7,794 | ||||||||||||||||||||||||||
7,829 | 7,794 | ||||||||||||||||||||||||||||
Park Place Technologies, LLC | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | 9,925 | 9,475 | 9,927 | (6) | |||||||||||||||||||||||
9,475 | 9,927 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Latam Airlines Group S.A. | Airlines | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+11.00% PIK due 3/29/2022 | $ | 17,918 | $ | 17,912 | $ | 17,918 | (6)(11)(15)(19) | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.50% PIK due 3/29/2022 | 7,912 | 7,908 | 7,912 | (6)(11)(15)(19) | |||||||||||||||||||||||||
25,820 | 25,830 | ||||||||||||||||||||||||||||
Lift Brands Holdings, Inc. | Leisure Facilities | ||||||||||||||||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 1,399 | — | (15) | ||||||||||||||||||||||||||
1,399 | — | ||||||||||||||||||||||||||||
Lightbox Intermediate, L.P. | Real Estate Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 6.01 | % | 41,220 | 40,344 | 40,602 | (6)(15) | |||||||||||||||||||||||
40,344 | 40,602 | ||||||||||||||||||||||||||||
Liquid Environmental Solutions Corporation | Environmental & Facilities Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 11/30/2026 | 9.50 | % | 4,357 | 4,276 | 4,259 | (6)(15) | |||||||||||||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 11/30/2026 | 9.50 | % | 1,162 | 1,139 | 1,083 | (6)(15)(19) | |||||||||||||||||||||||
5,415 | 5,342 | ||||||||||||||||||||||||||||
LSL Holdco, LLC | Health Care Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/31/2028 | 6.75 | % | 19,236 | 18,862 | 18,852 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/31/2028 | 6.75 | % | 427 | 386 | 385 | (6)(15)(19) | |||||||||||||||||||||||
19,248 | 19,237 | ||||||||||||||||||||||||||||
LTI Holdings, Inc. | Electronic Components | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 7.21 | % | 2,140 | 2,087 | 2,104 | (6) | |||||||||||||||||||||||
2,087 | 2,104 | ||||||||||||||||||||||||||||
Marinus Pharmaceuticals, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.50% cash due 5/11/2026 | 17,203 | 16,920 | 16,859 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.50% cash due 5/11/2026 | — | — | — | (11)(15)(19) | |||||||||||||||||||||||||
16,920 | 16,859 | ||||||||||||||||||||||||||||
Mesoblast, Inc. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 8.00% cash 1.75% PIK due 11/19/2026 | 7,152 | 6,517 | 6,437 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 8.00% cash 1.75% PIK due 11/19/2026 | — | 1 | 1 | (11)(15)(19) | |||||||||||||||||||||||||
209,588 Warrant Shares (exercise price $7.26) expiration date 11/19/2028 | 480 | 398 | (11)(15) | ||||||||||||||||||||||||||
6,998 | 6,836 | ||||||||||||||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/21/2027 | 7.04 | % | 16,346 | 16,058 | 16,034 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.75% cash due 7/21/2027 | 6.88 | % | 1,231 | 1,197 | 1,190 | (6)(15)(19) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 7/21/2027 | 6.75 | % | 57 | 32 | 30 | (6)(15)(19) | |||||||||||||||||||||||
17,287 | 17,254 | ||||||||||||||||||||||||||||
Mindbody, Inc. | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025 | 8.38 | % | 45,313 | 44,131 | 44,634 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | — | (64) | (60) | (6)(15)(19) | |||||||||||||||||||||||||
44,067 | 44,574 | ||||||||||||||||||||||||||||
Mosaic Companies, LLC | Home Improvement Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 7/2/2026 | 7.75 | % | 46,796 | 46,000 | 46,234 | (6)(15) | |||||||||||||||||||||||
46,000 | 46,234 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Performance Health Holdings, Inc. | Health Care Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 7/12/2027 | 7.00 | % | $ | 20,035 | $ | 19,666 | $ | 19,677 | (6)(15) | ||||||||||||||||||||
19,666 | 19,677 | ||||||||||||||||||||||||||||
PFNY Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 12/31/2026 | 8.00 | % | 26,286 | 25,764 | 25,760 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 12/31/2026 | — | (50) | (50) | (6)(15)(19) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 12/31/2026 | — | (25) | (25) | (6)(15)(19) | |||||||||||||||||||||||||
25,689 | 25,685 | ||||||||||||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrifts & Mortgage Finance | ||||||||||||||||||||||||||||
1.86% limited partnership interest | 752 | 134 | (11)(16)(19) | ||||||||||||||||||||||||||
752 | 134 | ||||||||||||||||||||||||||||
Planview Parent, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | 28,627 | 28,198 | 28,699 | (6)(15) | |||||||||||||||||||||||
28,198 | 28,699 | ||||||||||||||||||||||||||||
PLNTF Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 3/22/2026 | 9.00 | % | 3,950 | 3,883 | 3,970 | (6)(15) | |||||||||||||||||||||||
3,883 | 3,970 | ||||||||||||||||||||||||||||
Pluralsight, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00 | % | 48,689 | 47,830 | 47,831 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | — | (62) | (62) | (6)(15)(19) | |||||||||||||||||||||||||
47,768 | 47,769 | ||||||||||||||||||||||||||||
PRGX Global, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 3/3/2026 | 7.75 | % | 34,032 | 32,997 | 33,498 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.75% cash due 3/3/2026 | — | (28) | (26) | (6)(15)(19) | |||||||||||||||||||||||||
80,515 Class B Common Units | 79 | 80 | (15) | ||||||||||||||||||||||||||
33,048 | 33,552 | ||||||||||||||||||||||||||||
ProFrac Services, LLC | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 9/15/2023 | 9.75 | % | 30,910 | 29,378 | 30,600 | (6)(15) | |||||||||||||||||||||||
29,378 | 30,600 | ||||||||||||||||||||||||||||
Project Boost Purchaser, LLC | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/31/2027 | 8.10 | % | 5,250 | 5,155 | 5,237 | (6)(15) | |||||||||||||||||||||||
5,155 | 5,237 | ||||||||||||||||||||||||||||
Quantum Bidco Limited | Food Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, UK LIBOR+6.00% cash due 1/29/2028 | 6.12 | % | £ | 3,501 | 4,633 | 4,680 | (6)(11) | ||||||||||||||||||||||
4,633 | 4,680 | ||||||||||||||||||||||||||||
QuorumLabs, Inc. | Application Software | ||||||||||||||||||||||||||||
64,887,669 Junior-2 Preferred Stock | 375 | — | (15) | ||||||||||||||||||||||||||
375 | — | ||||||||||||||||||||||||||||
Realfi Strategic Capital Funding LLC | Real Estate Operating Companies | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 9.00% cash due 12/24/2028 | $ | — | — | — | (15)(19) | ||||||||||||||||||||||||
2,500 Warrant Units (exercise price $0.01) expiration date 11/24/2031 | — | — | — | (15) | |||||||||||||||||||||||||
— | — | ||||||||||||||||||||||||||||
Relativity ODA LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% PIK due 5/12/2027 | 23,372 | 22,877 | 22,928 | (6)(15) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 5/12/2027 | — | (49) | (42) | (6)(15)(19) | |||||||||||||||||||||||||
22,828 | 22,886 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
MRI Software LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.51 | % | $ | 28,108 | $ | 27,620 | $ | 28,015 | (6)(15) | ||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | — | (13) | (17) | (6)(15)(19) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | — | (13) | (6) | (6)(15)(19) | |||||||||||||||||||||||||
27,594 | 27,992 | ||||||||||||||||||||||||||||
Navisite, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 12/30/2026 | 9.51 | % | 22,560 | 22,203 | 21,545 | (6)(15) | |||||||||||||||||||||||
22,203 | 21,545 | ||||||||||||||||||||||||||||
NeuAG, LLC | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | 7.00 | % | 48,710 | 47,254 | 48,077 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | — | (197) | (71) | (6)(15)(19) | |||||||||||||||||||||||||
47,057 | 48,006 | ||||||||||||||||||||||||||||
NFP Corp. | Other Diversified Financial Services | ||||||||||||||||||||||||||||
Fixed Rate Bond 6.875% cash due 8/15/2028 | 9,703 | 9,310 | 9,279 | ||||||||||||||||||||||||||
9,310 | 9,279 | ||||||||||||||||||||||||||||
NN, Inc. | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.88% cash due 9/19/2026 | 7.88 | % | 59,011 | 57,813 | 57,654 | (6)(11)(15) | |||||||||||||||||||||||
57,813 | 57,654 | ||||||||||||||||||||||||||||
OEConnection LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.46 | % | 3,340 | 3,158 | 3,293 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 9/25/2027 | 7.50 | % | 7,519 | 7,376 | 7,331 | (6)(15) | |||||||||||||||||||||||
10,534 | 10,624 | ||||||||||||||||||||||||||||
OTG Management, LLC | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+2.00% cash 8.00% PIK due 9/1/2025 | 3.00 | % | 20,702 | 20,362 | 20,288 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+2.00% cash 8.00% PIK due 9/1/2025 | — | (34) | (38) | (6)(15)(19) | |||||||||||||||||||||||||
20,328 | 20,250 | ||||||||||||||||||||||||||||
P & L Development, LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Bond, 7.75% cash due 11/15/2025 | 7,776 | 7,826 | 7,178 | ||||||||||||||||||||||||||
7,826 | 7,178 | ||||||||||||||||||||||||||||
Park Place Technologies, LLC | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | 9,900 | 9,470 | 9,871 | (6) | |||||||||||||||||||||||
9,470 | 9,871 | ||||||||||||||||||||||||||||
Performance Health Holdings, Inc. | Health Care Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 7/12/2027 | 7.01 | % | 17,976 | 17,660 | 17,655 | (6)(15) | |||||||||||||||||||||||
17,660 | 17,655 | ||||||||||||||||||||||||||||
PFNY Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 12/31/2026 | 8.00 | % | 26,286 | 25,789 | 25,760 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 12/31/2026 | — | (47) | (50) | (6)(15)(19) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 12/31/2026 | — | (24) | (25) | (6)(15)(19) | |||||||||||||||||||||||||
25,718 | 25,685 | ||||||||||||||||||||||||||||
Planview Parent, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.26 | % | 28,627 | 28,198 | 28,484 | (6)(15) | |||||||||||||||||||||||
28,198 | 28,484 | ||||||||||||||||||||||||||||
PLNTF Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 3/22/2026 | 9.00 | % | 3,940 | 3,877 | 3,930 | (6)(15) | |||||||||||||||||||||||
3,877 | 3,930 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Renaissance Holding Corp. | Diversified Banks | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 5/29/2026 | 7.10 | % | $ | 3,542 | $ | 3,515 | $ | 3,562 | (6) | ||||||||||||||||||||
3,515 | 3,562 | ||||||||||||||||||||||||||||
RumbleOn, Inc. | Automotive Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.25% cash due 8/31/2026 | 9.25 | % | 37,941 | 35,687 | 36,993 | (6)(11)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+8.25% cash due 8/31/2026 | — | (969) | (408) | (6)(11)(15)(19) | |||||||||||||||||||||||||
164,660 Class B Common Stock Warrants (exercise price $33.00) expiration date 2/28/2023 | 1,202 | 1,787 | (15) | ||||||||||||||||||||||||||
35,920 | 38,372 | ||||||||||||||||||||||||||||
Sabert Corporation | Metal & Glass Containers | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | 1,771 | 1,672 | 1,774 | (6) | |||||||||||||||||||||||
1,672 | 1,774 | ||||||||||||||||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 7,571 | 6,551 | 7,154 | (15) | |||||||||||||||||||||||||
6,551 | 7,154 | ||||||||||||||||||||||||||||
ShareThis, Inc. | Application Software | ||||||||||||||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | — | (15) | ||||||||||||||||||||||||||
367 | — | ||||||||||||||||||||||||||||
SiO2 Medical Products, Inc. | Metal & Glass Containers | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 12/21/2026 | 19,302 | 18,828 | 18,824 | (15) | |||||||||||||||||||||||||
Common Stock Warrants (exercise price $0.75) expiration date 7/31/2028 | 681 | 681 | (15) | ||||||||||||||||||||||||||
19,509 | 19,505 | ||||||||||||||||||||||||||||
Sirva Worldwide, Inc. | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.60 | % | 1,727 | 1,556 | 1,572 | (6) | |||||||||||||||||||||||
1,556 | 1,572 | ||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. | Health Care Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 4/16/2029 | 8.75 | % | 9,109 | 8,972 | 9,177 | (6)(15) | |||||||||||||||||||||||
8,972 | 9,177 | ||||||||||||||||||||||||||||
SonicWall US Holdings Inc. | Technology Distributors | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 5/18/2026 | 7.67 | % | 3,195 | 3,163 | 3,148 | (6)(15) | |||||||||||||||||||||||
3,163 | 3,148 | ||||||||||||||||||||||||||||
Sorrento Therapeutics, Inc. | Biotechnology | ||||||||||||||||||||||||||||
50,000 Common Stock Units | 197 | 233 | (11) | ||||||||||||||||||||||||||
197 | 233 | ||||||||||||||||||||||||||||
Spanx, LLC | Apparel Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 11/18/2028 | 6.25 | % | 4,568 | 4,479 | 4,477 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.25% cash due 11/18/2027 | — | (61) | (62) | (6)(15)(19) | |||||||||||||||||||||||||
4,418 | 4,415 | ||||||||||||||||||||||||||||
SumUp Holdings Luxembourg S.À.R.L. | Other Diversified Financial Services | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, EURIBOR+8.50% cash due 3/10/2026 | 10.00 | % | € | 16,911 | 19,415 | 18,943 | (6)(11)(15) | ||||||||||||||||||||||
19,415 | 18,943 | ||||||||||||||||||||||||||||
Sunland Asphalt & Construction, LLC | Construction & Engineering | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/13/2026 | 7.00 | % | $ | 42,944 | 41,753 | 42,429 | (6)(15) | ||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/13/2022 | — | (5) | (7) | (6)(15)(19) | |||||||||||||||||||||||||
41,748 | 42,422 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Pluralsight, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00 | % | $ | 48,689 | $ | 47,869 | $ | 47,715 | (6)(15) | ||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | — | (59) | (71) | (6)(15)(19) | |||||||||||||||||||||||||
47,810 | 47,644 | ||||||||||||||||||||||||||||
PRGX Global, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 3/3/2026 | 7.76 | % | 33,946 | 32,974 | 33,413 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.75% cash due 3/3/2026 | — | (39) | (40) | (6)(15)(19) | |||||||||||||||||||||||||
80,515 Class B Common Units | 79 | 89 | (15) | ||||||||||||||||||||||||||
33,014 | 33,462 | ||||||||||||||||||||||||||||
Profrac Holdings II, LLC | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, SOFR+8.50% cash due 3/4/2025 | 9.50 | % | 34,743 | 33,727 | 34,048 | (6)(15) | |||||||||||||||||||||||
33,727 | 34,048 | ||||||||||||||||||||||||||||
Project Boost Purchaser, LLC | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/31/2027 | 8.46 | % | 5,250 | 5,160 | 5,230 | (6)(15) | |||||||||||||||||||||||
5,160 | 5,230 | ||||||||||||||||||||||||||||
Quantum Bidco Limited | Food Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, SONIA+6.00% cash due 1/29/2028 | 6.28 | % | £ | 3,501 | 4,639 | 4,496 | (6)(11)(15) | ||||||||||||||||||||||
4,639 | 4,496 | ||||||||||||||||||||||||||||
QuorumLabs, Inc. | Application Software | ||||||||||||||||||||||||||||
64,887,669 Junior-2 Preferred Stock | 375 | — | (15) | ||||||||||||||||||||||||||
375 | — | ||||||||||||||||||||||||||||
Radiology Partners Inc. | Health Care Distributors | ||||||||||||||||||||||||||||
Fixed Rate Bond, 9.25% cash due 2/1/2028 | $ | 4,755 | 4,717 | 4,764 | |||||||||||||||||||||||||
4,717 | 4,764 | ||||||||||||||||||||||||||||
Relativity ODA LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 5/12/2027 | 8.50 | % | 23,727 | 23,254 | 23,276 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 5/12/2027 | — | (47) | (42) | (6)(15)(19) | |||||||||||||||||||||||||
23,207 | 23,234 | ||||||||||||||||||||||||||||
Renaissance Holding Corp. | Diversified Banks | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 5/29/2026 | 7.46 | % | 3,542 | 3,515 | 3,520 | (6) | |||||||||||||||||||||||
3,515 | 3,520 | ||||||||||||||||||||||||||||
RumbleOn, Inc. | Automotive Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.25% cash due 8/31/2026 | 9.25 | % | 37,846 | 35,714 | 36,484 | (6)(11)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+8.25% cash due 8/31/2026 | 9.25 | % | 11,450 | 10,533 | 10,864 | (6)(11)(15)(19) | |||||||||||||||||||||||
164,660 Class B Common Stock Warrants (exercise price $33.00) expiration date 2/28/2023 | 1,202 | 978 | (11)(15) | ||||||||||||||||||||||||||
47,449 | 48,326 | ||||||||||||||||||||||||||||
Sabert Corporation | Metal & Glass Containers | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | 1,771 | 1,677 | 1,707 | (6) | |||||||||||||||||||||||
1,677 | 1,707 | ||||||||||||||||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 6,030 | 5,322 | 5,891 | (15) | |||||||||||||||||||||||||
5,322 | 5,891 | ||||||||||||||||||||||||||||
ShareThis, Inc. | Application Software | ||||||||||||||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | $ | — | (15) | |||||||||||||||||||||||||
367 | — |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | ||||||||||||||||||||||||||||||||||||||||||||
SiO2 Medical Products, Inc. | SiO2 Medical Products, Inc. | Metal & Glass Containers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 5.50% cash 5.50% PIK due 12/21/2026 | First Lien Term Loan, 5.50% cash 5.50% PIK due 12/21/2026 | $ | 44,332 | $ | 43,540 | $ | 43,538 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Warrants (exercise price $0.75) expiration date 7/31/2028 | Common Stock Warrants (exercise price $0.75) expiration date 7/31/2028 | 681 | 681 | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
44,221 | 44,219 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sirva Worldwide, Inc. | Sirva Worldwide, Inc. | Diversified Support Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.96 | % | 1,716 | 1,557 | 1,590 | (6) | |||||||||||||||||||||||||||||||||||||||||||||||||||
1,557 | 1,590 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. | SM Wellness Holdings, Inc. | Health Care Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 4/16/2029 | Second Lien Term Loan, LIBOR+8.00% cash due 4/16/2029 | 8.75 | % | 9,109 | 8,972 | 9,155 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
8,972 | 9,155 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SonicWall US Holdings Inc. | SonicWall US Holdings Inc. | Technology Distributors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 5/18/2026 | Second Lien Term Loan, LIBOR+7.50% cash due 5/18/2026 | 7.99 | % | 3,195 | 3,163 | 3,142 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
3,163 | 3,142 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sorrento Therapeutics, Inc. | Sorrento Therapeutics, Inc. | Biotechnology | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
50,000 Common Stock Units | 50,000 Common Stock Units | 197 | 117 | (11) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
197 | 117 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spanx, LLC | Spanx, LLC | Apparel Retail | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 11/20/2028 | First Lien Term Loan, LIBOR+5.50% cash due 11/20/2028 | 6.25 | % | 4,557 | 4,471 | 4,466 | (6)(15) | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.25% cash due 11/18/2027 | First Lien Revolver, LIBOR+5.25% cash due 11/18/2027 | — | (58) | (62) | (6)(15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
4,413 | 4,404 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SumUp Holdings Luxembourg S.À.R.L. | SumUp Holdings Luxembourg S.À.R.L. | Other Diversified Financial Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, EURIBOR+8.50% cash due 3/10/2026 | First Lien Term Loan, EURIBOR+8.50% cash due 3/10/2026 | 10.00 | % | € | 16,911 | 19,414 | 18,534 | (6)(11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
19,414 | 18,534 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunland Asphalt & Construction, LLC | Sunland Asphalt & Construction, LLC | Construction & Engineering | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/13/2026 | First Lien Term Loan, LIBOR+6.00% cash due 1/13/2026 | 7.00 | % | $ | 42,835 | 41,719 | 42,039 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||
41,719 | 42,039 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supermoose Borrower, LLC | Supermoose Borrower, LLC | Application Software | Supermoose Borrower, LLC | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.97 | % | $ | 3,493 | $ | 3,082 | $ | 3,306 | (6) | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 4.76 | % | 3,484 | 3,101 | 3,289 | (6) | |||||||||||||||||||||||||||||||||||||||||
3,082 | 3,306 | 3,101 | 3,289 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
SVP-Singer Holdings Inc. | SVP-Singer Holdings Inc. | Home Furnishings | SVP-Singer Holdings Inc. | Home Furnishings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 7/28/2028 | First Lien Term Loan, LIBOR+6.75% cash due 7/28/2028 | 7.50 | % | 20,924 | 19,542 | 19,738 | (6)(15) | First Lien Term Loan, LIBOR+6.75% cash due 7/28/2028 | 7.76 | % | 20,871 | 19,543 | 19,619 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
19,542 | 19,738 | 19,543 | 19,619 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Swordfish Merger Sub LLC | Swordfish Merger Sub LLC | Auto Parts & Equipment | Swordfish Merger Sub LLC | Auto Parts & Equipment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 7.75 | % | 12,500 | 12,468 | 12,461 | (6)(15) | Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 7.75 | % | 12,500 | 12,470 | 12,469 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
12,468 | 12,461 | 12,470 | 12,469 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tacala, LLC | Tacala, LLC | Restaurants | Tacala, LLC | Restaurants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028 | Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028 | 8.25 | % | 9,448 | 9,323 | 9,446 | (6) | Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028 | 8.25 | % | 9,448 | 9,328 | 9,341 | (6) | ||||||||||||||||||||||||||||||||||||||||||||
9,323 | 9,446 | 9,328 | 9,341 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tahoe Bidco B.V. | Tahoe Bidco B.V. | Application Software | Tahoe Bidco B.V. | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 9/29/2028 | First Lien Term Loan, LIBOR+6.00% cash due 9/29/2028 | 6.75 | % | 23,215 | 22,766 | 22,750 | (6)(11)(15) | First Lien Term Loan, LIBOR+6.00% cash due 9/29/2028 | 6.75 | % | 23,215 | 22,782 | 22,820 | (6)(11)(15) | ||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/1/2027 | First Lien Revolver, LIBOR+6.00% cash due 10/1/2027 | — | (33) | (35) | (6)(11)(15)(19) | First Lien Revolver, LIBOR+6.00% cash due 10/1/2027 | — | (32) | (31) | (6)(11)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||
22,733 | 22,715 | 22,750 | 22,789 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tecta America Corp. | Tecta America Corp. | Construction & Engineering | Tecta America Corp. | Construction & Engineering | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 4/9/2029 | Second Lien Term Loan, LIBOR+8.50% cash due 4/9/2029 | 9.25 | % | 5,203 | 5,125 | 5,203 | (6)(15) | Second Lien Term Loan, LIBOR+8.50% cash due 4/9/2029 | 9.25 | % | 5,203 | 5,125 | 5,255 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
5,125 | 5,203 | 5,125 | 5,255 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Telestream Holdings Corporation | Telestream Holdings Corporation | Application Software | Telestream Holdings Corporation | Application Software | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.75% cash due 10/15/2025 | First Lien Term Loan, LIBOR+8.75% cash due 10/15/2025 | 9.75 | % | 18,463 | 18,003 | 18,241 | (6)(15) | First Lien Term Loan, LIBOR+8.75% cash due 10/15/2025 | 9.75 | % | 18,416 | 17,987 | 18,195 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+8.75% cash due 10/15/2025 | First Lien Revolver, LIBOR+8.75% cash due 10/15/2025 | 9.75 | % | 703 | 677 | 682 | (6)(15)(19) | First Lien Revolver, LIBOR+8.75% cash due 10/15/2025 | — | (24) | (21) | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||
18,680 | 18,923 | 17,963 | 18,174 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TerSera Therapeutics LLC | Pharmaceuticals | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.50% cash due 3/30/2026 | 10.50 | % | 29,663 | 29,286 | 29,371 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
668,879 Common Units of TerSera Holdings LLC | 2,192 | 3,487 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
31,478 | 32,858 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TGNR HoldCo LLC | Integrated Oil & Gas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, 11.50% cash due 5/14/2026 | 4,984 | 4,847 | 4,897 | (10)(11)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
4,847 | 4,897 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thermacell Repellents, Inc. | Leisure Products | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 12/4/2026 | 6.75 | % | 6,619 | 6,586 | 6,586 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 12/4/2026 | 6.75 | % | 250 | 246 | 246 | (6)(15)(19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
6,832 | 6,832 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrasio, LLC | Internet & Direct Marketing Retail | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 12/18/2026 | 8.00 | % | 37,780 | 36,683 | 37,591 | (6)(15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
8,434 Shares of Series C-3 Preferred Stock in Thrasio Holdings, Inc. | 101 | 171 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
284,650.32 Shares of Series C-2 Preferred Stock in Thrasio Holdings, Inc. | 2,410 | 5,764 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
48,352 Shares of Series D Preferred Stock in Thrasio Holdings, Inc. | 979 | 979 | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
23,201 Shares of Series X Preferred Stock in Thrasio Holdings, Inc. | 22,986 | 25,743 | (15)(19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
63,159 | 70,248 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TIBCO Software Inc. | Application Software | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 3/3/2028 | 7.36 | % | 14,788 | 14,692 | 14,865 | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
14,692 | 14,865 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
TigerConnect, Inc. | Application Software | ||||||||||||||||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | $ | 60 | $ | 525 | (15) | ||||||||||||||||||||||||
60 | 525 | ||||||||||||||||||||||||||||
Touchstone Acquisition, Inc. | Health Care Supplies | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/21/2028 | 6.75 | % | $ | 6,046 | 5,925 | 5,925 | (6)(15) | ||||||||||||||||||||||
5,925 | 5,925 | ||||||||||||||||||||||||||||
Velocity Commercial Capital, LLC | Thrifts & Mortgage Finance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 2/5/2026 | 9.00 | % | 15,808 | 15,264 | 15,729 | (6)(15) | |||||||||||||||||||||||
15,264 | 15,729 | ||||||||||||||||||||||||||||
Veritas US Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025 | 6.00 | % | 5,925 | 5,607 | 5,933 | (6) | |||||||||||||||||||||||
5,607 | 5,933 | ||||||||||||||||||||||||||||
Vitalyst Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
675 Series A Preferred Stock Units | 675 | 440 | (15) | ||||||||||||||||||||||||||
7,500 Class A Common Stock Units | 75 | — | (15) | ||||||||||||||||||||||||||
750 | 440 | ||||||||||||||||||||||||||||
Win Brands Group LLC | Housewares & Specialties | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.00% cash 5.00% PIK due 1/22/2026 | 10.00 | % | 1,908 | 1,889 | 1,898 | (6)(15) | |||||||||||||||||||||||
181 Class F Warrants in Brand Value Growth LLC (exercise price $0.01) expiration date 1/25/2027 | — | 111 | (15) | ||||||||||||||||||||||||||
1,889 | 2,009 | ||||||||||||||||||||||||||||
Windstream Services II, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | 25,698 | 24,694 | 25,818 | (6) | |||||||||||||||||||||||
18,032 Shares of Common Stock in Windstream Holdings II, LLC | 216 | 377 | (15) | ||||||||||||||||||||||||||
109,420 Warrants in Windstream Holdings II, LLC | 1,842 | 2,286 | (15) | ||||||||||||||||||||||||||
26,752 | 28,481 | ||||||||||||||||||||||||||||
WP CPP Holdings, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025 | 4.75 | % | 4,358 | 4,022 | 4,189 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | 16,000 | 15,771 | 15,688 | (6)(15) | |||||||||||||||||||||||
19,793 | 19,877 | ||||||||||||||||||||||||||||
WPEngine, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 3/27/2026 | 7.50 | % | 40,536 | 39,822 | 40,057 | (6)(15) | |||||||||||||||||||||||
39,822 | 40,057 | ||||||||||||||||||||||||||||
WWEX Uni Topco Holdings, LLC | Air Freight & Logistics | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 7/26/2029 | 7.75 | % | 5,000 | 4,925 | 5,022 | (6) | |||||||||||||||||||||||
4,925 | 5,022 | ||||||||||||||||||||||||||||
Zep Inc. | Specialty Chemicals | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 9.25 | % | 22,224 | 22,173 | 20,646 | (6)(15) | |||||||||||||||||||||||
22,173 | 20,646 | ||||||||||||||||||||||||||||
Zephyr Bidco Limited | Specialized Finance | ||||||||||||||||||||||||||||
Second Lien Term Loan, UK LIBOR+7.50% cash due 7/23/2026 | 7.68 | % | £ | 18,000 | 23,802 | 24,339 | (6)(11) | ||||||||||||||||||||||
23,802 | 24,339 | ||||||||||||||||||||||||||||
Total Non-Control/Non-Affiliate Investments (174.4% of net assets) | $ | 2,283,055 | $ | 2,311,034 | |||||||||||||||||||||||||
Total Portfolio Investments (195.4% of net assets) | $ | 2,574,870 | $ | 2,588,623 | |||||||||||||||||||||||||
Cash and Cash Equivalents and Restricted Cash | |||||||||||||||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 32,082 | $ | 32,082 | |||||||||||||||||||||||||
Other cash accounts | 13,975 | 13,975 | |||||||||||||||||||||||||||
Total Cash and Cash Equivalents and Restricted Cash (3.5% of net assets) | $ | 46,057 | $ | 46,057 | |||||||||||||||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents and Restricted Cash (198.8% of net assets) | $ | 2,620,927 | $ | 2,634,680 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
TerSera Therapeutics LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.50% cash due 3/30/2026 | 10.51 | % | $ | 29,663 | $ | 29,308 | $ | 29,139 | (6)(15) | ||||||||||||||||||||
668,879 Common Units of TerSera Holdings LLC | 2,179 | 3,487 | (15) | ||||||||||||||||||||||||||
31,487 | 32,626 | ||||||||||||||||||||||||||||
TGNR HoldCo LLC | Integrated Oil & Gas | ||||||||||||||||||||||||||||
Subordinated Debt, 11.50% cash due 5/14/2026 | 4,984 | 4,853 | 4,897 | (10)(11)(15) | |||||||||||||||||||||||||
4,853 | 4,897 | ||||||||||||||||||||||||||||
Thermacell Repellents, Inc. | Leisure Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 12/4/2026 | 6.76 | % | 6,603 | 6,569 | 6,570 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 12/4/2026 | 6.75 | % | 604 | 600 | 600 | (6)(15)(19) | |||||||||||||||||||||||
7,169 | 7,170 | ||||||||||||||||||||||||||||
Thrasio, LLC | Internet & Direct Marketing Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 12/18/2026 | 8.01 | % | 37,685 | 36,644 | 37,252 | (6)(15) | |||||||||||||||||||||||
8,434 Shares of Series C-3 Preferred Stock in Thrasio Holdings, Inc. | 101 | 171 | (15) | ||||||||||||||||||||||||||
284,650.32 Shares of Series C-2 Preferred Stock in Thrasio Holdings, Inc. | 2,409 | 5,764 | (15) | ||||||||||||||||||||||||||
48,352 Shares of Series D Preferred Stock in Thrasio Holdings, Inc. | 979 | 979 | (15) | ||||||||||||||||||||||||||
23,201 Shares of Series X Preferred Stock in Thrasio Holdings, Inc. | 22,986 | 26,487 | (15)(19) | ||||||||||||||||||||||||||
63,119 | 70,653 | ||||||||||||||||||||||||||||
TIBCO Software Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 3/3/2028 | 7.71 | % | 14,788 | 14,693 | 14,785 | (6) | |||||||||||||||||||||||
14,693 | 14,785 | ||||||||||||||||||||||||||||
Touchstone Acquisition, Inc. | Health Care Supplies | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028 | 6.75 | % | 6,046 | 5,929 | 5,925 | (6)(15) | |||||||||||||||||||||||
5,929 | 5,925 | ||||||||||||||||||||||||||||
Uniti Group LP | Specialized REITs | ||||||||||||||||||||||||||||
Fixed Rate Bond, 6.50% cash due 2/15/2029 | 1,500 | 1,404 | 1,400 | (11) | |||||||||||||||||||||||||
1,404 | 1,400 | ||||||||||||||||||||||||||||
Veritas US Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025 | 6.00 | % | 5,910 | 5,614 | 5,547 | (6) | |||||||||||||||||||||||
5,614 | 5,547 | ||||||||||||||||||||||||||||
Vertiv Group Corporation | Electrical Components & Equipment | ||||||||||||||||||||||||||||
Fixed Rate Bond, 4.125% cash due 11/15/2028 | 1,000 | 852 | 914 | (11) | |||||||||||||||||||||||||
852 | 914 | ||||||||||||||||||||||||||||
Win Brands Group LLC | Housewares & Specialties | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.00% cash 5.00% PIK due 1/22/2026 | 10.00 | % | 3,737 | 3,700 | 3,709 | (6)(15) | |||||||||||||||||||||||
181 Class F Warrants in Brand Value Growth LLC (exercise price $0.01) expiration date 1/25/2027 | — | 135 | (15) | ||||||||||||||||||||||||||
3,700 | 3,844 | ||||||||||||||||||||||||||||
Windstream Services II, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | 25,631 | 24,672 | 25,631 | (6) | |||||||||||||||||||||||
18,032 Shares of Common Stock in Windstream Holdings II, LLC | 216 | 366 | (15) | ||||||||||||||||||||||||||
109,420 Warrants in Windstream Holdings II, LLC | 1,842 | 2,220 | (15) | ||||||||||||||||||||||||||
26,730 | 28,217 | ||||||||||||||||||||||||||||
WP CPP Holdings, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025 | 4.75 | % | 7,617 | 7,180 | 7,236 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | 16,000 | 15,784 | 15,667 | (6)(15) | |||||||||||||||||||||||
22,964 | 22,903 |
Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||||||||||||||||||
Foreign currency forward contract | $ | 49,542 | € | 42,652 | 2/10/2022 | JPMorgan Chase Bank, N.A. | $ | 999 | ||||||||||||||||||||||||
Foreign currency forward contract | $ | 54,395 | £ | 40,109 | 2/10/2022 | JPMorgan Chase Bank, N.A. | 76 | |||||||||||||||||||||||||
$ | 1,075 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
WPEngine, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 3/27/2026 | 8.00 | % | $ | 40,536 | $ | 39,863 | $ | 40,057 | (6)(15) | ||||||||||||||||||||
39,863 | 40,057 | ||||||||||||||||||||||||||||
WWEX Uni Topco Holdings, LLC | Air Freight & Logistics | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 7/26/2029 | 8.01 | % | 5,000 | 4,925 | 4,931 | (6) | |||||||||||||||||||||||
4,925 | 4,931 | ||||||||||||||||||||||||||||
Zayo Group Holdings, Inc. | Alternative Carriers | ||||||||||||||||||||||||||||
Fixed Rate Bond, 6.125% cash due 3/1/2028 | 1,000 | 890 | 897 | ||||||||||||||||||||||||||
890 | 897 | ||||||||||||||||||||||||||||
Zep Inc. | Specialty Chemicals | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 9.26 | % | 19,578 | 19,536 | 17,777 | (6)(15) | |||||||||||||||||||||||
19,536 | 17,777 | ||||||||||||||||||||||||||||
Zephyr Bidco Limited | Specialized Finance | ||||||||||||||||||||||||||||
Second Lien Term Loan, SONIA+7.50% cash due 7/23/2026 | 8.22 | % | £ | 18,000 | 23,812 | 23,544 | (6)(11) | ||||||||||||||||||||||
23,812 | 23,544 | ||||||||||||||||||||||||||||
Total Non-Control/Non-Affiliate Investments (178.4% of net assets) | $ | 2,365,667 | $ | 2,373,951 | |||||||||||||||||||||||||
Total Portfolio Investments (198.8% of net assets) | $ | 2,659,748 | $ | 2,644,775 | |||||||||||||||||||||||||
Cash and Cash Equivalents and Restricted Cash | |||||||||||||||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 6,228 | $ | 6,228 | |||||||||||||||||||||||||
Other cash accounts | 35,533 | 35,533 | |||||||||||||||||||||||||||
Total Cash and Cash Equivalents and Restricted Cash (3.1% of net assets) | $ | 41,761 | $ | 41,761 | |||||||||||||||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents and Restricted Cash (201.9% of net assets) | $ | 2,701,509 | $ | 2,686,536 |
Derivative Instrument | Derivative Instrument | Company Receives | Company Pays | Counterparty | Maturity Date | Notional Amount | Fair Value | Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swap | Fixed 2.7% | Floating 3-month LIBOR +1.658% | Royal Bank of Canada | 1/15/2027 | $350,000 | $(5,931) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency forward contract | Foreign currency forward contract | $ | 49,897 | € | 43,643 | 5/12/2022 | JPMorgan Chase Bank, N.A. | $ | 1,270 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency forward contract | Foreign currency forward contract | $ | 54,292 | £ | 40,109 | 5/12/2022 | JPMorgan Chase Bank, N.A. | 1,494 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 2,764 |
Derivative Instrument | Company Receives | Company Pays | Counterparty | Maturity Date | Notional Amount | Fair Value | ||||||||||||||||||||||||||||||||
Interest rate swap | Fixed 2.7% | Floating 3-month LIBOR +1.658% | Royal Bank of Canada | 1/15/2027 | $350,000 | $(23,272) |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Control Investments | (8)(9) | ||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | (15) | ||||||||||||||||||||||||
34,984,460.37 Preferred Units | 34,984 | 27,638 | (15) | ||||||||||||||||||||||||||
34,984 | 27,638 | ||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 27,381 | 27,381 | 27,381 | (6)(15) | ||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | — | — | — | (6)(15)(19) | |||||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 18,625 | 18,065 | (12)(15) | ||||||||||||||||||||||||||
46,006 | 45,446 | ||||||||||||||||||||||||||||
First Star Speir Aviation Limited | Airlines | (10) | |||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2025 | 7,500 | — | 7,500 | (11)(15) | |||||||||||||||||||||||||
100% equity interest | 6,332 | 698 | (11)(12)(15) | ||||||||||||||||||||||||||
6,332 | 8,198 | ||||||||||||||||||||||||||||
OCSI Glick JV LLC | Multi-Sector Holdings | (14) | |||||||||||||||||||||||||||
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | 4.60 | % | 61,709 | 50,705 | 55,582 | (6)(11)(15)(19) | |||||||||||||||||||||||
87.5% equity interest | — | — | (11)(16)(19) | ||||||||||||||||||||||||||
50,705 | 55,582 | ||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC | Multi-Sector Holdings | (14) | |||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 8.00 | % | 96,250 | 96,250 | 96,250 | (6)(11)(15)(19) | |||||||||||||||||||||||
87.5% LLC equity interest | 49,322 | 37,651 | (11)(12)(16)(19) | ||||||||||||||||||||||||||
145,572 | 133,901 | ||||||||||||||||||||||||||||
Total Control Investments (20.6% of net assets) | $ | 283,599 | $ | 270,765 | |||||||||||||||||||||||||
Affiliate Investments | (17) | ||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/17/2023 | 7.00 | % | $ | 15,899 | $ | 15,900 | $ | 15,712 | (6)(15)(19) | ||||||||||||||||||||
1,609,201 Class A Units | 764 | 587 | (15) | ||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019 | 1,152 | (15) | ||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | (15) | ||||||||||||||||||||||||||
17,683 | 17,451 | ||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | ||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080 | 838 | (15) | ||||||||||||||||||||||||||
1,080 | 838 | ||||||||||||||||||||||||||||
Total Affiliate Investments (1.4% of net assets) | $ | 18,763 | $ | 18,289 | |||||||||||||||||||||||||
Non-Control/Non-Affiliate Investments | (18) | ||||||||||||||||||||||||||||
4 Over International, LLC | Commercial Printing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 6/7/2022 | 7.00 | % | $ | 10,927 | $ | 10,524 | $ | 10,484 | (6)(15) | ||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 6/7/2022 | — | (24) | (93) | (6)(15)(19) | |||||||||||||||||||||||||
10,500 | 10,391 | ||||||||||||||||||||||||||||
109 Montgomery Owner LLC | Real Estate Operating Companies | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 2/2/2023 | 7.50 | % | 3,102 | 2,984 | 3,153 | (6)(15)(19) | |||||||||||||||||||||||
2,984 | 3,153 | ||||||||||||||||||||||||||||
A.T. Holdings II SÀRL | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 9.50% cash due 12/22/2022 | 37,158 | 36,930 | 36,972 | (11)(15) | |||||||||||||||||||||||||
36,930 | 36,972 | ||||||||||||||||||||||||||||
Access CIG, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.83 | % | 5,352 | 5,021 | 5,332 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026 | 7.83 | % | 17,000 | 16,923 | 17,028 | (6) | |||||||||||||||||||||||
21,944 | 22,360 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Accupac, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | $ | 16,140 | $ | 15,758 | $ | 16,140 | (6)(15) | ||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 1/17/2026 | — | (29) | — | (6)(15)(19) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/17/2026 | 7.00 | % | 1,838 | 1,789 | 1,838 | (6)(15)(19) | |||||||||||||||||||||||
17,518 | 17,978 | ||||||||||||||||||||||||||||
Acquia Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025 | 8.00 | % | 27,349 | 26,936 | 27,295 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 10/31/2025 | 8.00 | % | 179 | 148 | 175 | (6)(15)(19) | |||||||||||||||||||||||
27,084 | 27,470 | ||||||||||||||||||||||||||||
ADB Companies, LLC | Construction & Engineering | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | 15,463 | 14,817 | 15,287 | (6)(15) | |||||||||||||||||||||||
14,817 | 15,287 | ||||||||||||||||||||||||||||
Aden & Anais Merger Sub, Inc. | Apparel, Accessories & Luxury Goods | ||||||||||||||||||||||||||||
51,645 Common Units in Aden & Anais Holdings, Inc. | 5,165 | — | (15) | ||||||||||||||||||||||||||
5,165 | — | ||||||||||||||||||||||||||||
AI Sirona (Luxembourg) Acquisition S.a.r.l. | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026 | 7.25 | % | € | 24,838 | 27,720 | 28,738 | (6)(11)(15) | ||||||||||||||||||||||
27,720 | 28,738 | ||||||||||||||||||||||||||||
AirStrip Technologies, Inc. | Application Software | ||||||||||||||||||||||||||||
5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025 | 90 | — | (15) | ||||||||||||||||||||||||||
90 | — | ||||||||||||||||||||||||||||
All Web Leads, Inc. | Advertising | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/29/2023 | 7.50 | % | $ | 23,899 | 21,512 | 22,992 | (6)(15) | ||||||||||||||||||||||
21,512 | 22,992 | ||||||||||||||||||||||||||||
Alvogen Pharma US, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | 13,825 | 13,329 | 13,383 | (6) | |||||||||||||||||||||||
13,329 | 13,383 | ||||||||||||||||||||||||||||
Alvotech Holdings S.A. | Biotechnology | (13) | |||||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Tranche A due 6/24/2025 | 20,967 | 20,576 | 20,967 | (11)(15) | |||||||||||||||||||||||||
Fixed Rate Bond 15% PIK Tranche B due 6/24/2025 | 20,512 | 20,169 | 20,512 | (11)(15) | |||||||||||||||||||||||||
27,308 Common Shares | 6,322 | 6,322 | (15) | ||||||||||||||||||||||||||
47,067 | 47,801 | ||||||||||||||||||||||||||||
Amplify Finco Pty Ltd. | Movies & Entertainment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | 15,376 | 13,814 | 14,985 | (6)(11)(15) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027 | 8.75 | % | 12,500 | 12,188 | 12,063 | (6)(11)(15) | |||||||||||||||||||||||
26,002 | 27,048 | ||||||||||||||||||||||||||||
Ankura Consulting Group LLC | Research & Consulting Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 3/19/2029 | 8.75 | % | 7,466 | 7,354 | 7,606 | (6)(15) | |||||||||||||||||||||||
7,354 | 7,606 | ||||||||||||||||||||||||||||
Apptio, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 34,458 | 33,420 | 33,922 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | 892 | 849 | 858 | (6)(15)(19) | |||||||||||||||||||||||
34,269 | 34,780 | ||||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | Insurance Brokers | ||||||||||||||||||||||||||||
First Lien Term Loan, EURIBOR+7.25% cash due 7/14/2026 | 8.25 | % | € | 1,964 | 2,179 | 2,283 | (6)(11)(15) | ||||||||||||||||||||||
First Lien Term Loan, UK LIBOR+7.25% cash due 7/14/2026 | 8.00 | % | £ | 18,636 | 23,336 | 25,329 | (6)(11)(15) | ||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 7/14/2026 | $ | — | — | — | (6)(11)(15)(19) | ||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, SONIA+6.00% cash due 7/14/2026 | £ | — | — | — | (6)(11)(15)(19) | ||||||||||||||||||||||||
25,515 | 27,612 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Associated Asphalt Partners, LLC | Construction Materials | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.25% cash due 4/5/2024 | 6.25 | % | $ | 2,531 | $ | 2,245 | $ | 2,350 | (6) | ||||||||||||||||||||
2,245 | 2,350 | ||||||||||||||||||||||||||||
Athenex, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 6/19/2026 | 42,145 | 40,475 | 41,845 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026 | — | (274) | (150) | (11)(15)(19) | |||||||||||||||||||||||||
328,149 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027 | 973 | 95 | (11)(15) | ||||||||||||||||||||||||||
41,174 | 41,790 | ||||||||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | 22,655 | 22,232 | 21,318 | (6)(11)(15) | |||||||||||||||||||||||
22,232 | 21,318 | ||||||||||||||||||||||||||||
The Avery | Real Estate Operating Companies | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan in T8 Urban Condo Owner, LLC, LIBOR+7.30% cash due 2/17/2023 | 7.55 | % | 20,287 | 19,933 | 20,490 | (6)(15)(19) | |||||||||||||||||||||||
Subordinated Delayed Draw Debt in T8 Senior Mezz LLC, LIBOR+12.50% cash due 2/17/2023 | 12.75 | % | 4,692 | 4,614 | 4,698 | (6)(15)(19) | |||||||||||||||||||||||
24,547 | 25,188 | ||||||||||||||||||||||||||||
BAART Programs, Inc. | Health Care Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 6/11/2028 | 9.50 | % | 7,166 | 7,059 | 7,130 | (6)(15) | |||||||||||||||||||||||
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 6/11/2028 | — | (52) | (18) | (6)(15)(19) | |||||||||||||||||||||||||
7,007 | 7,112 | ||||||||||||||||||||||||||||
Berner Food & Beverage, LLC | Soft Drinks | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 7/30/2027 | 7.50 | % | 33,412 | 32,844 | 32,844 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 7/30/2027 | 7.50 | % | 619 | 566 | 566 | (6)(15)(19) | |||||||||||||||||||||||
33,410 | 33,410 | ||||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026 | 7.13 | % | 30,625 | 30,181 | 30,523 | (6) | |||||||||||||||||||||||
30,181 | 30,523 | ||||||||||||||||||||||||||||
Blumenthal Temecula, LLC | Automotive Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 9/24/2023 | 3,979 | 3,980 | 3,979 | (15) | |||||||||||||||||||||||||
1,293,324 Preferred Units in Unstoppable Automotive AMV, LLC | 1,293 | 1,293 | (15) | ||||||||||||||||||||||||||
298,460 Preferred Units in Unstoppable Automotive VMV, LLC | 298 | 298 | (15) | ||||||||||||||||||||||||||
298,460 Common Units in Unstoppable Automotive AMV, LLC | 298 | 298 | (15) | ||||||||||||||||||||||||||
99,486 Common Units in Unstoppable Automotive VMV, LLC | 100 | 99 | (15) | ||||||||||||||||||||||||||
5,969 | 5,967 | ||||||||||||||||||||||||||||
Cadence Aerospace, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash 2.00% PIK due 11/14/2023 | 7.50 | % | 14,146 | 12,574 | 12,992 | (6)(15) | |||||||||||||||||||||||
12,574 | 12,992 | ||||||||||||||||||||||||||||
Chief Power Finance II, LLC | Independent Power Producers & Energy Traders | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 12/31/2022 | 7.50 | % | 23,850 | 23,458 | 23,552 | (6)(15) | |||||||||||||||||||||||
23,458 | 23,552 | ||||||||||||||||||||||||||||
CircusTrix Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 2.50% PIK due 7/16/2023 | 6.50 | % | 10,686 | 9,793 | 8,816 | (6)(15)(19) | |||||||||||||||||||||||
9,793 | 8,816 | ||||||||||||||||||||||||||||
CITGO Holding, Inc. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023 | 8.00 | % | 11,635 | 11,517 | 11,512 | (6) | |||||||||||||||||||||||
Fixed Rate Bond, 9.25% cash due 8/1/2024 | 10,672 | 10,672 | 10,765 | ||||||||||||||||||||||||||
22,189 | 22,277 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
CITGO Petroleum Corp. | Oil & Gas Refining & Marketing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | $ | 14,221 | $ | 13,855 | $ | 14,269 | (6) | ||||||||||||||||||||
13,855 | 14,269 | ||||||||||||||||||||||||||||
Clear Channel Outdoor Holdings Inc. | Advertising | ||||||||||||||||||||||||||||
Fixed Rate Bond, 7.50% cash due 6/1/2029 | 7,137 | 7,137 | 7,431 | (11) | |||||||||||||||||||||||||
7,137 | 7,431 | ||||||||||||||||||||||||||||
Continental Intermodal Group LP | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.50% PIK due 1/28/2025 | 38,876 | 36,668 | 32,628 | (6)(15) | |||||||||||||||||||||||||
Common Stock Warrants expiration date 7/28/2025 | 648 | 1,909 | (15) | ||||||||||||||||||||||||||
37,316 | 34,537 | ||||||||||||||||||||||||||||
Convergeone Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.08 | % | 7,024 | 6,848 | 7,003 | (6) | |||||||||||||||||||||||
6,848 | 7,003 | ||||||||||||||||||||||||||||
Conviva Inc. | Application Software | ||||||||||||||||||||||||||||
517,851 Shares of Series D Preferred Stock | 605 | 894 | (15) | ||||||||||||||||||||||||||
605 | 894 | ||||||||||||||||||||||||||||
CorEvitas, LLC | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 10,196 | 10,071 | 10,109 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 12/13/2025 | 6.50 | % | 1,943 | 1,894 | 1,912 | (6)(15)(19) | |||||||||||||||||||||||
First Lien Revolver, PRIME+4.50% cash due 12/13/2025 | 7.75 | % | 305 | 283 | 290 | (6)(15)(19) | |||||||||||||||||||||||
1,099 Class A2 Common Units in CorEvitas Holdings, L.P. | 1,038 | 1,177 | (15) | ||||||||||||||||||||||||||
13,286 | 13,488 | ||||||||||||||||||||||||||||
Coty Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+1.75% cash due 4/5/2023 | — | (712) | (395) | (6)(11)(15)(19) | |||||||||||||||||||||||||
(712) | (395) | ||||||||||||||||||||||||||||
Coyote Buyer, LLC | Specialty Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026 | 7.00 | % | 18,387 | 17,887 | 18,225 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 2/6/2025 | — | (13) | (12) | (6)(15)(19) | |||||||||||||||||||||||||
17,874 | 18,213 | ||||||||||||||||||||||||||||
Curium Bidco S.à.r.l. | Biotechnology | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 10/27/2028 | 8.50 | % | 16,787 | 16,535 | 17,070 | (6)(11)(15) | |||||||||||||||||||||||
16,535 | 17,070 | ||||||||||||||||||||||||||||
Delta Topco, Inc. | Systems Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028 | 8.00 | % | 6,680 | 6,647 | 6,769 | (6) | |||||||||||||||||||||||
6,647 | 6,769 | ||||||||||||||||||||||||||||
Dialyze Holdings, LLC | Health Care Equipment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 2.00% PIK due 8/4/2026 | 8.00 | % | 24,093 | 22,439 | 22,467 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash 2.00% PIK due 8/4/2026 | — | (170) | (163) | (6)(15)(19) | |||||||||||||||||||||||||
5,403,823 Class A Warrants (exercise price $1.00) expiration date 8/4/2028 | 1,405 | 1,459 | (15) | ||||||||||||||||||||||||||
23,674 | 23,763 | ||||||||||||||||||||||||||||
Digital.AI Software Holdings, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 2/10/2027 | 8.00 | % | 10,003 | 9,627 | 9,783 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+7.00% cash due 2/10/2027 | 8.00 | % | 180 | 151 | 156 | (6)(15)(19) | |||||||||||||||||||||||
9,778 | 9,939 | ||||||||||||||||||||||||||||
DirecTV Financing, LLC | Cable & Satellite | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75 | % | 27,000 | 26,730 | 27,048 | (6) | |||||||||||||||||||||||
26,730 | 27,048 | ||||||||||||||||||||||||||||
Eagleview Technology Corporation | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026 | 8.50 | % | 8,974 | 8,884 | 8,918 | (6)(15) | |||||||||||||||||||||||
8,884 | 8,918 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
EHR Canada, LLC | Food Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 12/31/2021 | 9.00 | % | $ | 3,750 | $ | 3,745 | $ | 3,750 | (6)(15) | ||||||||||||||||||||
3,745 | 3,750 | ||||||||||||||||||||||||||||
EOS Fitness Opco Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
487.5 Class A Preferred Units, 12% | 488 | 274 | (15) | ||||||||||||||||||||||||||
12,500 Class B Common Units | — | — | (15) | ||||||||||||||||||||||||||
488 | 274 | ||||||||||||||||||||||||||||
Firstlight Holdco, Inc. | Alternative Carriers | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.50% cash due 7/23/2025 | 3.58 | % | 7,012 | 6,578 | 6,939 | (6) | |||||||||||||||||||||||
6,578 | 6,939 | ||||||||||||||||||||||||||||
Fortress Biotech, Inc. | Biotechnology | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.00% cash due 8/27/2025 | 11,359 | 10,722 | 11,075 | (11)(15) | |||||||||||||||||||||||||
331,200 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030 | 405 | 341 | (11)(15) | ||||||||||||||||||||||||||
11,127 | 11,416 | ||||||||||||||||||||||||||||
GI Chill Acquisition LLC | Managed Health Care | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 8/6/2025 | 3.90 | % | 12,653 | 12,442 | 12,621 | (6)(15) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 8/6/2026 | 7.63 | % | 6,250 | 6,212 | 6,219 | (6)(15) | |||||||||||||||||||||||
18,654 | 18,840 | ||||||||||||||||||||||||||||
GKD Index Partners, LLC | Specialized Finance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 6/29/2023 | 9.50 | % | 26,360 | 25,837 | 25,931 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.50% cash due 6/29/2023 | 9.50 | % | 1,280 | 1,251 | 1,252 | (6)(15)(19) | |||||||||||||||||||||||
27,088 | 27,183 | ||||||||||||||||||||||||||||
Global Medical Response, Inc. | Health Care Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | 8,630 | 8,399 | 8,674 | (6) | |||||||||||||||||||||||
8,399 | 8,674 | ||||||||||||||||||||||||||||
Gulf Operating, LLC | Oil & Gas Storage & Transportation | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+4.00% cash due 12/27/2021 | — | (704) | (75) | (6)(15)(19) | |||||||||||||||||||||||||
(704) | (75) | ||||||||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | Education Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25 | % | 1,007 | 981 | 1,009 | (6)(11) | |||||||||||||||||||||||
981 | 1,009 | ||||||||||||||||||||||||||||
iCIMs, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 25,635 | 25,024 | 25,525 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024 | 7.50 | % | 1,176 | 1,147 | 1,171 | (6)(15) | |||||||||||||||||||||||
26,171 | 26,696 | ||||||||||||||||||||||||||||
Immucor, Inc. | Health Care Supplies | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/2/2025 | 6.75 | % | 8,657 | 8,425 | 8,570 | (6)(15) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash 3.50% PIK due 10/2/2025 | 9.00 | % | 21,834 | 21,225 | 21,616 | (6)(15) | |||||||||||||||||||||||
29,650 | 30,186 | ||||||||||||||||||||||||||||
Integral Development Corporation | Other Diversified Financial Services | ||||||||||||||||||||||||||||
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024 | 113 | — | (15) | ||||||||||||||||||||||||||
113 | — | ||||||||||||||||||||||||||||
Inventus Power, Inc. | Electrical Components & Equipment | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/29/2024 | 6.00 | % | 18,849 | 18,693 | 18,708 | (6)(15) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2024 | 9.50 | % | 13,674 | 13,434 | 13,434 | (6)(15) | |||||||||||||||||||||||
32,127 | 32,142 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
INW Manufacturing, LLC | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.50 | % | $ | 37,031 | $ | 35,988 | $ | 36,291 | (6)(15) | ||||||||||||||||||||
35,988 | 36,291 | ||||||||||||||||||||||||||||
Itafos Inc. | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.25% cash due 8/25/2024 | 9.25 | % | 22,506 | 21,636 | 21,651 | (6)(15) | |||||||||||||||||||||||
21,636 | 21,651 | ||||||||||||||||||||||||||||
Ivanti Software, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 12/1/2028 | 9.50 | % | 17,346 | 16,864 | 17,368 | (6)(15) | |||||||||||||||||||||||
16,864 | 17,368 | ||||||||||||||||||||||||||||
Jazz Acquisition, Inc. | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% cash due 1/29/2027 | 8.50 | % | 36,603 | 35,292 | 36,531 | (6)(15) | |||||||||||||||||||||||
35,292 | 36,531 | ||||||||||||||||||||||||||||
Latam Airlines Group S.A. | Airlines | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+11.00% PIK due 3/29/2022 | 16,239 | 16,085 | 16,356 | (6)(11)(15)(19) | |||||||||||||||||||||||||
16,085 | 16,356 | ||||||||||||||||||||||||||||
Lift Brands Holdings, Inc. | Leisure Facilities | ||||||||||||||||||||||||||||
2,000,000 Class A Common Units in Snap Investments, LLC | 1,399 | — | (15) | ||||||||||||||||||||||||||
1,399 | — | ||||||||||||||||||||||||||||
Lightbox Intermediate, L.P. | Real Estate Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 5.13 | % | 41,432 | 40,445 | 41,225 | (6)(15) | |||||||||||||||||||||||
40,445 | 41,225 | ||||||||||||||||||||||||||||
LogMeIn, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.83 | % | 3,970 | 3,720 | 3,973 | (6) | |||||||||||||||||||||||
3,720 | 3,973 | ||||||||||||||||||||||||||||
LTI Holdings, Inc. | Electronic Components | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026 | 6.83 | % | 10,140 | 10,080 | 10,127 | (6) | |||||||||||||||||||||||
10,080 | 10,127 | ||||||||||||||||||||||||||||
Marinus Pharmaceuticals, Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
First Lien Term Loan, 11.50% cash due 5/11/2026 | 3,441 | 3,377 | 3,389 | (11)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, 11.50% cash due 5/11/2026 | 6,881 | 6,755 | 6,778 | (11)(15)(19) | |||||||||||||||||||||||||
10,132 | 10,167 | ||||||||||||||||||||||||||||
Mayfield Agency Borrower Inc. | Property & Casualty Insurance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025 | 4.58 | % | 9,949 | 9,884 | 9,949 | (6) | |||||||||||||||||||||||
9,884 | 9,949 | ||||||||||||||||||||||||||||
MedAssets Software Intermediate Holdings, Inc. | Health Care Technology | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 1/29/2029 | 8.50 | % | 14,137 | 13,877 | 13,960 | (6)(15) | |||||||||||||||||||||||
13,877 | 13,960 | ||||||||||||||||||||||||||||
MHE Intermediate Holdings, LLC | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 7/21/2027 | 6.75 | % | 16,429 | 16,111 | 16,100 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.75% cash due 7/21/2027 | 6.75 | % | 106 | 84 | 83 | (6)(15)(19) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 7/21/2027 | — | (27) | (28) | (6)(15)(19) | |||||||||||||||||||||||||
16,168 | 16,155 | ||||||||||||||||||||||||||||
Mindbody, Inc. | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025 | 8.00 | % | 38,774 | 37,513 | 38,038 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | — | (75) | (76) | (6)(15)(19) | |||||||||||||||||||||||||
37,438 | 37,962 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Ministry Brands, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022 | $ | — | $ | (9) | $ | (9) | (6)(15)(19) | ||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023 | 10.25 | % | 11,000 | 10,844 | 10,906 | (6)(15) | |||||||||||||||||||||||
10,835 | 10,897 | ||||||||||||||||||||||||||||
Mosaic Companies, LLC | Home Improvement Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 7/2/2026 | 7.75 | % | 47,388 | 46,487 | 46,488 | (6)(15) | |||||||||||||||||||||||
46,487 | 46,488 | ||||||||||||||||||||||||||||
MRI Software LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | 27,352 | 26,815 | 27,335 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | — | (25) | — | (6)(15)(19) | |||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | — | (13) | (1) | (6)(15)(19) | |||||||||||||||||||||||||
26,777 | 27,334 | ||||||||||||||||||||||||||||
Navisite, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 12/30/2026 | 9.50 | % | 22,560 | 22,165 | 22,176 | (6)(15) | |||||||||||||||||||||||
22,165 | 22,176 | ||||||||||||||||||||||||||||
NeuAG, LLC | Fertilizers & Agricultural Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | 7.00 | % | 47,031 | 45,279 | 45,996 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024 | — | (202) | (120) | (6)(15)(19) | |||||||||||||||||||||||||
45,077 | 45,876 | ||||||||||||||||||||||||||||
NN, Inc. | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.88% cash due 9/19/2026 | 7.88 | % | 59,309 | 57,971 | 58,419 | (6)(11)(15) | |||||||||||||||||||||||
57,971 | 58,419 | ||||||||||||||||||||||||||||
OEConnection LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.08 | % | 3,355 | 3,152 | 3,351 | (6) | |||||||||||||||||||||||
3,152 | 3,351 | ||||||||||||||||||||||||||||
Olaplex, Inc. | Personal Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026 | 7.25 | % | 52,122 | 50,906 | 51,731 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.25% cash due 1/8/2025 | — | (58) | (75) | (6)(15)(19) | |||||||||||||||||||||||||
50,848 | 51,656 | ||||||||||||||||||||||||||||
OmniSYS Acquisition Corporation | Diversified Support Services | ||||||||||||||||||||||||||||
100,000 Common Units in OSYS Holdings, LLC | 1,000 | 729 | (15) | ||||||||||||||||||||||||||
1,000 | 729 | ||||||||||||||||||||||||||||
Onvoy, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 2/10/2024 | 5.50 | % | 3,601 | 3,410 | 3,603 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+10.50% cash due 2/10/2025 | 11.50 | % | 9,277 | 9,277 | 9,277 | (6)(15) | |||||||||||||||||||||||
19,666.67 Class A Units in GTCR Onvoy Holdings, LLC | 1,967 | 2,372 | (15) | ||||||||||||||||||||||||||
13,664.73 Series 3 Class B Units in GTCR Onvoy Holdings, LLC | — | — | (15) | ||||||||||||||||||||||||||
14,654 | 15,252 | ||||||||||||||||||||||||||||
OTG Management, LLC | Airport Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+10.00% cash due 9/1/2025 | 11.00 | % | 19,894 | 19,504 | 19,496 | (6)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+10.00% cash due 9/1/2025 | — | (37) | (38) | (6)(15)(19) | |||||||||||||||||||||||||
19,467 | 19,458 | ||||||||||||||||||||||||||||
P & L Development, LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Bond, 7.75% cash due 11/15/2025 | 7,776 | 7,832 | 8,089 | ||||||||||||||||||||||||||
7,832 | 8,089 | ||||||||||||||||||||||||||||
Park Place Technologies, LLC | Internet Services & Infrastructure | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | 9,950 | 9,479 | 9,961 | (6) | |||||||||||||||||||||||
9,479 | 9,961 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Performance Health Holdings, Inc. | Health Care Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 7/12/2027 | 7.00 | % | $ | 20,085 | $ | 19,698 | $ | 19,683 | (6)(15) | ||||||||||||||||||||
19,698 | 19,683 | ||||||||||||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Thrifts & Mortgage Finance | ||||||||||||||||||||||||||||
1.86% limited partnership interest | 752 | 112 | (11)(16)(19) | ||||||||||||||||||||||||||
752 | 112 | ||||||||||||||||||||||||||||
Planview Parent, Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | 28,627 | 28,198 | 28,699 | (6)(15) | |||||||||||||||||||||||
28,198 | 28,699 | ||||||||||||||||||||||||||||
PLNTF Holdings, LLC | Leisure Facilities | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 3/22/2026 | 9.00 | % | 13,729 | 13,482 | 13,798 | (6)(15) | |||||||||||||||||||||||
13,482 | 13,798 | ||||||||||||||||||||||||||||
Pluralsight, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00 | % | 48,689 | 47,788 | 47,763 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | — | (65) | (67) | (6)(15)(19) | |||||||||||||||||||||||||
47,723 | 47,696 | ||||||||||||||||||||||||||||
PRGX Global, Inc. | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 3/3/2026 | 7.75 | % | 34,118 | 33,016 | 33,547 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+6.75% cash due 3/3/2026 | — | (44) | (42) | (6)(15)(19) | |||||||||||||||||||||||||
80,515 Class B Common Units | 79 | 81 | (15) | ||||||||||||||||||||||||||
33,051 | 33,586 | ||||||||||||||||||||||||||||
ProFrac Services, LLC | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.50% cash due 9/15/2023 | 9.75 | % | 30,910 | 29,146 | 30,600 | (6)(15) | |||||||||||||||||||||||
29,146 | 30,600 | ||||||||||||||||||||||||||||
Project Boost Purchaser, LLC | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 5/31/2027 | 8.08 | % | 5,250 | 5,151 | 5,224 | (6)(15) | |||||||||||||||||||||||
5,151 | 5,224 | ||||||||||||||||||||||||||||
Quantum Bidco Limited | Food Distributors | ||||||||||||||||||||||||||||
First Lien Term Loan, UK LIBOR+6.00% cash due 1/29/2028 | 6.11 | % | £ | 3,501 | 4,625 | 4,673 | (6)(11) | ||||||||||||||||||||||
4,625 | 4,673 | ||||||||||||||||||||||||||||
QuorumLabs, Inc. | Application Software | ||||||||||||||||||||||||||||
64,887,669 Junior-2 Preferred Stock | 375 | — | (15) | ||||||||||||||||||||||||||
375 | — | ||||||||||||||||||||||||||||
Relativity ODA LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.50% PIK due 5/12/2027 | $ | 22,856 | 22,337 | 22,376 | (6)(15) | ||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.50% cash due 5/12/2027 | — | (52) | (47) | (6)(15)(19) | |||||||||||||||||||||||||
22,285 | 22,329 | ||||||||||||||||||||||||||||
Renaissance Holding Corp. | Diversified Banks | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 5/29/2026 | 7.08 | % | 3,542 | 3,515 | 3,562 | (6) | |||||||||||||||||||||||
3,515 | 3,562 | ||||||||||||||||||||||||||||
RevSpring, Inc. | Commercial Printing | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 10/11/2025 | 4.38 | % | 9,725 | 9,185 | 9,709 | (6) | |||||||||||||||||||||||
9,185 | 9,709 | ||||||||||||||||||||||||||||
RumbleOn, Inc. | Automotive Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.25% cash due 8/31/2026 | 9.25 | % | 38,036 | 35,651 | 35,640 | (6)(11)(15) | |||||||||||||||||||||||
First Lien Delayed Draw Term Loan, LIBOR+8.25% cash due 8/31/2026 | — | (1,022) | (1,027) | (6)(11)(15)(19) | |||||||||||||||||||||||||
164,660 Class B Common Stock Warrants (exercise price $33.00) expiration date 2/28/2023 | 1,202 | 1,553 | (15) | ||||||||||||||||||||||||||
35,831 | 36,166 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Sabert Corporation | Metal & Glass Containers | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | $ | 1,818 | $ | 1,711 | $ | 1,825 | (6) | ||||||||||||||||||||
1,711 | 1,825 | ||||||||||||||||||||||||||||
Scilex Pharmaceuticals Inc. | Pharmaceuticals | ||||||||||||||||||||||||||||
Fixed Rate Zero Coupon Bond due 8/15/2026 | 7,692 | 6,512 | 7,169 | (15) | |||||||||||||||||||||||||
6,512 | 7,169 | ||||||||||||||||||||||||||||
ShareThis, Inc. | Application Software | ||||||||||||||||||||||||||||
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024 | 367 | — | (15) | ||||||||||||||||||||||||||
367 | — | ||||||||||||||||||||||||||||
SIO2 Medical Products, Inc. | Metal & Glass Containers | ||||||||||||||||||||||||||||
Subordinated Debt, 11.25% cash due 2/28/2022 | 15,896 | 15,161 | 15,022 | (15) | |||||||||||||||||||||||||
Subordinated Delayed Draw Debt, 11.25% cash due 2/28/2022 | — | (110) | (119) | (15)(19) | |||||||||||||||||||||||||
Common Stock Warrants (exercise price $0.75) expiration date 7/31/2028 | 681 | 685 | (15) | ||||||||||||||||||||||||||
15,732 | 15,588 | ||||||||||||||||||||||||||||
Sirva Worldwide, Inc. | Diversified Support Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.58 | % | 1,739 | 1,554 | 1,644 | (6) | |||||||||||||||||||||||
1,554 | 1,644 | ||||||||||||||||||||||||||||
SM Wellness Holdings, Inc. | Health Care Services | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.00% cash due 4/16/2029 | 8.75 | % | 9,109 | 8,972 | 9,177 | (6)(15) | |||||||||||||||||||||||
8,972 | 9,177 | ||||||||||||||||||||||||||||
SonicWall US Holdings Inc. | Technology Distributors | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 5/18/2026 | 7.63 | % | 3,195 | 3,163 | 3,178 | (6) | |||||||||||||||||||||||
3,163 | 3,178 | ||||||||||||||||||||||||||||
Sorrento Therapeutics, Inc. | Biotechnology | ||||||||||||||||||||||||||||
50,000 Common Stock Units | 197 | 382 | (11) | ||||||||||||||||||||||||||
197 | 382 | ||||||||||||||||||||||||||||
Star US Bidco LLC | Industrial Machinery | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | 1,194 | 1,114 | 1,199 | (6) | |||||||||||||||||||||||
1,114 | 1,199 | ||||||||||||||||||||||||||||
SumUp Holdings Luxembourg S.À.R.L. | Other Diversified Financial Services | ||||||||||||||||||||||||||||
First Lien Delayed Draw Term Loan, EURIBOR+8.50% cash due 3/10/2026 | 10.00 | % | € | 13,980 | 15,991 | 15,908 | (6)(11)(15)(19) | ||||||||||||||||||||||
15,991 | 15,908 | ||||||||||||||||||||||||||||
Sunland Asphalt & Construction, LLC | Construction & Engineering | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.00% cash due 1/13/2026 | 7.00 | % | $ | 43,052 | 41,782 | 42,450 | (6)(15) | ||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 1/13/2022 | 7.00 | % | 203 | 150 | 169 | (6)(15)(19) | |||||||||||||||||||||||
41,932 | 42,619 | ||||||||||||||||||||||||||||
Supermoose Borrower, LLC | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.88 | % | 8,576 | 7,581 | 7,996 | (6) | |||||||||||||||||||||||
7,581 | 7,996 | ||||||||||||||||||||||||||||
SVP-Singer Holdings Inc. | Home Furnishings | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.75% cash due 7/28/2028 | 7.50 | % | 20,976 | 19,537 | 19,735 | (6)(15) | |||||||||||||||||||||||
19,537 | 19,735 | ||||||||||||||||||||||||||||
Swordfish Merger Sub LLC | Auto Parts & Equipment | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026 | 7.75 | % | 12,500 | 12,466 | 12,365 | (6)(15) | |||||||||||||||||||||||
12,466 | 12,365 | ||||||||||||||||||||||||||||
Tacala, LLC | Restaurants | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028 | 8.25 | % | 9,448 | 9,317 | 9,451 | (6) | |||||||||||||||||||||||
9,317 | 9,451 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Tecta America Corp. | Construction & Engineering | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.50% cash due 4/9/2029 | 9.25 | % | $ | 5,203 | $ | 5,125 | $ | 5,203 | (6)(15) | ||||||||||||||||||||
5,125 | 5,203 | ||||||||||||||||||||||||||||
Telestream Holdings Corporation | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.75% cash due 10/15/2025 | 9.75 | % | 18,510 | 18,017 | 18,250 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+8.75% cash due 10/15/2025 | 9.75 | % | 492 | 464 | 468 | (6)(15)(19) | |||||||||||||||||||||||
18,481 | 18,718 | ||||||||||||||||||||||||||||
TerSera Therapeutics LLC | Pharmaceuticals | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+9.50% cash due 3/30/2026 | 10.50 | % | 29,663 | 29,359 | 29,371 | (6)(15) | |||||||||||||||||||||||
668,879 Common Units of TerSera Holdings LLC | 2,192 | 3,487 | (15) | ||||||||||||||||||||||||||
31,551 | 32,858 | ||||||||||||||||||||||||||||
TGNR HoldCo LLC | Integrated Oil & Gas | ||||||||||||||||||||||||||||
Subordinated Debt, 11.50% cash due 5/14/2026 | 4,984 | 4,842 | 4,884 | (11)(15)(20) | |||||||||||||||||||||||||
4,842 | 4,884 | ||||||||||||||||||||||||||||
Thermacell Repellents, Inc. | Leisure Products | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.75% cash due 12/4/2026 | 6.75 | % | 6,636 | 6,603 | 6,603 | (6)(15) | |||||||||||||||||||||||
First Lien Revolver, LIBOR+5.75% cash due 12/4/2026 | — | (4) | (4) | (6)(15)(19) | |||||||||||||||||||||||||
6,599 | 6,599 | ||||||||||||||||||||||||||||
Thrasio, LLC | Internet & Direct Marketing Retail | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+7.00% cash due 12/18/2026 | 8.00 | % | 37,876 | 36,736 | 37,686 | (6)(15) | |||||||||||||||||||||||
8,434 Shares of Series C-3 Preferred Stock in Thrasio Holdings, Inc. | 101 | 171 | (15) | ||||||||||||||||||||||||||
284,650.32 Shares of Series C-2 Preferred Stock in Thrasio Holdings, Inc. | 2,410 | 5,764 | (15) | ||||||||||||||||||||||||||
23,201 Shares of Series X Preferred Stock in Thrasio Holdings, Inc. | 22,986 | 24,803 | (15)(19) | ||||||||||||||||||||||||||
62,233 | 68,424 | ||||||||||||||||||||||||||||
TIBCO Software Inc. | Application Software | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.25% cash due 3/3/2028 | 7.34 | % | 16,788 | 16,681 | 17,002 | (6) | |||||||||||||||||||||||
16,681 | 17,002 | ||||||||||||||||||||||||||||
TigerConnect, Inc. | Application Software | ||||||||||||||||||||||||||||
299,110 Series B Preferred Stock Warrants (exercise price $1.3373) expiration date 12/8/2024 | 60 | 525 | (15) | ||||||||||||||||||||||||||
60 | 525 | ||||||||||||||||||||||||||||
Transact Holdings Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.75% cash due 4/30/2026 | 4.83 | % | 6,860 | 6,757 | 6,809 | (6)(15) | |||||||||||||||||||||||
6,757 | 6,809 | ||||||||||||||||||||||||||||
Velocity Commercial Capital, LLC | Thrifts & Mortgage Finance | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+8.00% cash due 2/5/2026 | 9.00 | % | 15,909 | 15,327 | 15,830 | (6)(15) | |||||||||||||||||||||||
15,327 | 15,830 | ||||||||||||||||||||||||||||
Veritas US Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025 | 6.00 | % | 5,940 | 5,599 | 5,975 | (6) | |||||||||||||||||||||||
5,599 | 5,975 | ||||||||||||||||||||||||||||
Vitalyst Holdings, Inc. | IT Consulting & Other Services | ||||||||||||||||||||||||||||
675 Series A Preferred Stock Units | 675 | 440 | (15) | ||||||||||||||||||||||||||
7,500 Class A Common Stock Units | 75 | — | (15) | ||||||||||||||||||||||||||
750 | 440 | ||||||||||||||||||||||||||||
Win Brands Group LLC | Housewares & Specialties | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+9.00% cash 5.00% PIK due 1/22/2026 | 10.00 | % | 1,894 | 1,875 | 1,884 | (6)(15) | |||||||||||||||||||||||
181 Class F Warrants in Brand Value Growth LLC (exercise price $0.01) expiration date 1/25/2027 | — | 119 | (15) | ||||||||||||||||||||||||||
1,875 | 2,003 |
Portfolio Company/Type of Investment (1)(2)(3)(4)(5) | Cash Interest Rate (6) | Industry | Principal (7) | Cost | Fair Value | Notes | |||||||||||||||||||||||
Windstream Services II, LLC | Integrated Telecommunication Services | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | $ | 31,598 | $ | 30,347 | $ | 31,793 | (6) | ||||||||||||||||||||
18,032 Shares of Common Stock in Windstream Holdings II, LLC | 216 | 363 | (15) | ||||||||||||||||||||||||||
109,420 Warrants in Windstream Holdings II, LLC | 1,842 | 2,199 | (15) | ||||||||||||||||||||||||||
32,405 | 34,355 | ||||||||||||||||||||||||||||
WP CPP Holdings, LLC | Aerospace & Defense | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025 | 4.75 | % | 4,369 | 4,005 | 4,264 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | 16,000 | 15,758 | 15,815 | (6)(15) | |||||||||||||||||||||||
19,763 | 20,079 | ||||||||||||||||||||||||||||
WPEngine, Inc. | Application Software | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+6.50% cash due 3/27/2026 | 7.50 | % | 40,536 | 39,778 | 40,013 | (6)(15) | |||||||||||||||||||||||
39,778 | 40,013 | ||||||||||||||||||||||||||||
WWEX Uni Topco Holdings, LLC | Air Freight & Logistics | ||||||||||||||||||||||||||||
Second Lien Term Loan, LIBOR+7.00% cash due 7/26/2029 | 7.75 | % | 5,000 | 4,925 | 4,981 | (6) | |||||||||||||||||||||||
4,925 | 4,981 | ||||||||||||||||||||||||||||
Zep Inc. | Specialty Chemicals | ||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+4.00% cash due 8/12/2024 | 5.00 | % | 6,495 | 6,165 | 6,353 | (6) | |||||||||||||||||||||||
Second Lien Term Loan, LIBOR+8.25% cash due 8/11/2025 | 9.25 | % | 22,748 | 22,692 | 21,993 | (6)(15) | |||||||||||||||||||||||
28,857 | 28,346 | ||||||||||||||||||||||||||||
Zephyr Bidco Limited | Specialized Finance | ||||||||||||||||||||||||||||
Second Lien Term Loan, UK LIBOR+7.50% cash due 7/23/2026 | 7.55 | % | £ | 18,000 | 23,783 | 24,210 | (6)(11) | ||||||||||||||||||||||
23,783 | 24,210 | ||||||||||||||||||||||||||||
Total Non-Control/Non-Affiliate Investments (172.7% of net assets) | $ | 2,236,759 | $ | 2,267,575 | |||||||||||||||||||||||||
Total Portfolio Investments (194.7% of net assets) | $ | 2,539,121 | $ | 2,556,629 | |||||||||||||||||||||||||
Cash and Cash Equivalents and Restricted Cash | |||||||||||||||||||||||||||||
JP Morgan Prime Money Market Fund, Institutional Shares | $ | 23,600 | $ | 23,600 | |||||||||||||||||||||||||
Other cash accounts | 8,035 | 8,035 | |||||||||||||||||||||||||||
Total Cash and Cash Equivalents and Restricted Cash (2.4% of net assets) | $ | 31,635 | $ | 31,635 | |||||||||||||||||||||||||
Total Portfolio Investments and Cash and Cash Equivalents and Restricted Cash (197.2% of net assets) | $ | 2,570,756 | $ | 2,588,264 |
Derivative Instrument | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Counterparty | Cumulative Unrealized Appreciation /(Depreciation) | |||||||||||||||||||||||||||
Foreign currency forward contract | $ | 52,186 | £ | 37,709 | 11/12/2021 | JPMorgan Chase Bank, N.A. | $ | 1,339 | ||||||||||||||||||||||||
Foreign currency forward contract | $ | 46,663 | € | 39,736 | 11/12/2021 | JPMorgan Chase Bank, N.A. | 573 | |||||||||||||||||||||||||
$ | 1,912 |
Derivative Instrument | Company Receives | Company Pays | Counterparty | Maturity Date | Notional Amount | Fair Value | ||||||||||||||||||||||||||||||||
Interest rate swap | Fixed 2.7% | Floating 3-month LIBOR +1.658% | Royal Bank of Canada | 1/15/2027 | $350,000 | $(2,108) |
December 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||||
Investments in debt securities | $ | 2,264,967 | $ | 2,290,199 | $ | 2,222,223 | $ | 2,259,924 | ||||||||||||||||||
Investments in equity securities | 113,743 | 107,859 | 120,621 | 107,222 | ||||||||||||||||||||||
Debt investments in the JVs | 146,838 | 152,104 | 146,955 | 151,832 | ||||||||||||||||||||||
Equity investments in the JVs | 49,322 | 38,461 | 49,322 | 37,651 | ||||||||||||||||||||||
Total | $ | 2,574,870 | $ | 2,588,623 | $ | 2,539,121 | $ | 2,556,629 |
March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||||
Investments in debt securities | $ | 2,333,075 | $ | 2,338,069 | $ | 2,222,223 | $ | 2,259,924 | ||||||||||||||||||
Investments in equity securities | 130,508 | 118,077 | 120,621 | 107,222 | ||||||||||||||||||||||
Debt investments in the JVs | 146,843 | 151,899 | 146,955 | 151,832 | ||||||||||||||||||||||
Equity investments in the JVs | 49,322 | 36,730 | 49,322 | 37,651 | ||||||||||||||||||||||
Total | $ | 2,659,748 | $ | 2,644,775 | $ | 2,539,121 | $ | 2,556,629 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Fair Value | % of Debt Portfolio | Fair Value | % of Debt Portfolio | |||||||||||||||||||||||||||||||||||||||||||||
Floating rate debt securities, including the debt investments in the JVs | Floating rate debt securities, including the debt investments in the JVs | $ | 2,236,839 | 91.59 | % | $ | 2,205,648 | 91.45 | % | Floating rate debt securities, including the debt investments in the JVs | $ | 2,216,924 | 89.03 | % | $ | 2,205,648 | 91.45 | % | ||||||||||||||||||||||||||||||||||
Fixed rate debt securities | Fixed rate debt securities | 205,464 | 8.41 | 206,108 | 8.55 | Fixed rate debt securities | 273,044 | 10.97 | 206,108 | 8.55 | ||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,442,303 | 100.00 | % | $ | 2,411,756 | 100.00 | % | Total | $ | 2,489,968 | 100.00 | % | $ | 2,411,756 | 100.00 | % |
Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments in debt securities (senior secured) | Investments in debt securities (senior secured) | $ | — | $ | 329,177 | $ | 1,934,096 | $ | — | $ | 2,263,273 | Investments in debt securities (senior secured) | $ | — | $ | 328,082 | $ | 1,955,858 | $ | — | $ | 2,283,940 | ||||||||||||||||||||||||||||||||||||||||||
Investments in debt securities (subordinated, including the debt investments in the JVs) | Investments in debt securities (subordinated, including the debt investments in the JVs) | — | 17,661 | 161,369 | — | 179,030 | Investments in debt securities (subordinated, including the debt investments in the JVs) | — | 45,301 | 160,727 | — | 206,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (preferred) | Investments in equity securities (preferred) | — | — | 65,550 | — | 65,550 | Investments in equity securities (preferred) | — | — | 84,372 | — | 84,372 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments in equity securities (common and warrants, including LLC equity interests of the JVs) | Investments in equity securities (common and warrants, including LLC equity interests of the JVs) | 233 | — | 41,942 | 38,595 | 80,770 | Investments in equity securities (common and warrants, including LLC equity interests of the JVs) | 117 | — | 33,588 | 36,730 | 70,435 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments at fair value | Total investments at fair value | 233 | 346,838 | 2,202,957 | 38,595 | 2,588,623 | Total investments at fair value | 117 | 373,383 | 2,234,545 | 36,730 | 2,644,775 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents | Cash equivalents | 32,082 | — | — | — | 32,082 | Cash equivalents | 6,228 | — | — | — | 6,228 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative asset | Derivative asset | — | 1,075 | — | — | 1,075 | Derivative asset | — | 2,764 | — | — | 2,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets at fair value | Total assets at fair value | $ | 32,315 | $ | 347,913 | $ | 2,202,957 | $ | 38,595 | $ | 2,621,780 | Total assets at fair value | $ | 6,345 | $ | 376,147 | $ | 2,234,545 | $ | 36,730 | $ | 2,653,767 | ||||||||||||||||||||||||||||||||||||||||||
Derivative liability | Derivative liability | $ | — | $ | 5,931 | $ | — | $ | — | $ | 5,931 | Derivative liability | $ | — | $ | 23,272 | $ | — | $ | — | $ | 23,272 | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities at fair value | Total liabilities at fair value | $ | — | $ | 5,931 | $ | — | $ | — | $ | 5,931 | Total liabilities at fair value | $ | — | $ | 23,272 | $ | — | $ | — | $ | 23,272 |
Level 1 | Level 2 | Level 3 | Measured at Net Asset Value (a) | Total | ||||||||||||||||||||||||||||
Investments in debt securities (senior secured) | $ | — | $ | 338,707 | $ | 1,878,536 | $ | — | $ | 2,217,243 | ||||||||||||||||||||||
Investments in debt securities (subordinated, including the debt investments in the JVs) | — | 18,196 | 176,317 | — | 194,513 | |||||||||||||||||||||||||||
Investments in equity securities (preferred) | — | — | 63,565 | — | 63,565 | |||||||||||||||||||||||||||
Investments in equity securities (common and warrants, including LLC equity interests of the JVs) | 382 | — | 43,163 | 37,763 | 81,308 | |||||||||||||||||||||||||||
Total investments at fair value | 382 | 356,903 | 2,161,581 | 37,763 | 2,556,629 | |||||||||||||||||||||||||||
Cash equivalents | 23,600 | — | — | — | 23,600 | |||||||||||||||||||||||||||
Derivative asset | — | 1,912 | — | — | 1,912 | |||||||||||||||||||||||||||
Total assets at fair value | $ | 23,982 | $ | 358,815 | $ | 2,161,581 | $ | 37,763 | $ | 2,582,141 | ||||||||||||||||||||||
Derivative liability | $ | — | $ | 2,108 | $ | — | $ | — | $ | 2,108 | ||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 2,108 | $ | — | $ | — | $ | 2,108 |
Investments | ||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in the JVs) | Preferred Equity | Common Equity and Warrants | Total | ||||||||||||||||||||||||||||
Fair value as of December 31, 2021 | $ | 1,934,096 | $ | 161,369 | $ | 65,550 | $ | 41,942 | $ | 2,202,957 | ||||||||||||||||||||||
Purchases | 186,142 | 159 | 18,264 | 614 | 205,179 | |||||||||||||||||||||||||||
Sales and repayments | (168,283) | (950) | (163) | (2,443) | (171,839) | |||||||||||||||||||||||||||
Transfers in (a) | 4,680 | — | — | — | 4,680 | |||||||||||||||||||||||||||
Capitalized PIK interest income | 4,944 | — | — | — | 4,944 | |||||||||||||||||||||||||||
Accretion of OID | 8,533 | 379 | — | — | 8,912 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | (14,077) | (230) | 1,233 | (8,283) | (21,357) | |||||||||||||||||||||||||||
Net realized gains (losses) | (177) | — | (512) | 1,758 | 1,069 | |||||||||||||||||||||||||||
Fair value as of March 31, 2022 | $ | 1,955,858 | $ | 160,727 | $ | 84,372 | $ | 33,588 | $ | 2,234,545 | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of March 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended March 31, 2022 | $ | (10,232) | $ | (229) | $ | 999 | $ | (7,897) | $ | (17,359) |
Investments | ||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in the JVs) | Preferred Equity | Common Equity and Warrants | Total | ||||||||||||||||||||||||||||
Fair value as of December 31, 2020 | $ | 1,078,416 | $ | 114,172 | $ | 29,731 | $ | 35,472 | $ | 1,257,791 | ||||||||||||||||||||||
Purchases (a) | 560,749 | 46,286 | 19,958 | 2,377 | 629,370 | |||||||||||||||||||||||||||
Sales and repayments | (85,977) | (6,309) | — | (1,053) | (93,339) | |||||||||||||||||||||||||||
Capitalized PIK interest income | 3,875 | — | — | — | 3,875 | |||||||||||||||||||||||||||
Accretion of OID | 3,044 | 39 | — | — | 3,083 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | 30,133 | 2,660 | 2,107 | 12,935 | 47,835 | |||||||||||||||||||||||||||
Net realized gains (losses) | 50 | 1,106 | — | 608 | 1,764 | |||||||||||||||||||||||||||
Fair value as of March 31, 2021 | $ | 1,590,290 | $ | 157,954 | $ | 51,796 | $ | 50,339 | $ | 1,850,379 | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of March 31, 2021 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended March 31, 2021 | $ | 27,554 | $ | 3,172 | $ | 2,107 | $ | 15,956 | $ | 48,789 |
Investments | ||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in the JVs) | Preferred Equity | Common Equity and Warrants | Total | ||||||||||||||||||||||||||||
Fair value as of September 30, 2021 | $ | 1,878,536 | $ | 176,317 | $ | 63,565 | $ | 43,163 | $ | 2,161,581 | ||||||||||||||||||||||
Purchases | 191,087 | 3,589 | 979 | 1,441 | 197,096 | |||||||||||||||||||||||||||
Sales and repayments | (131,946) | (20,185) | — | (6,503) | (158,634) | |||||||||||||||||||||||||||
Transfers in (a) | 3,178 | — | — | — | 3,178 | |||||||||||||||||||||||||||
Transfers out (a) | (17,070) | — | — | — | (17,070) | |||||||||||||||||||||||||||
Capitalized PIK interest income | 6,172 | 313 | — | — | 6,485 | |||||||||||||||||||||||||||
Accretion of OID | 5,378 | 819 | — | — | 6,197 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | (9,877) | 516 | 1,006 | 6,636 | (1,719) | |||||||||||||||||||||||||||
Net realized gains (losses) | 8,638 | — | — | (2,795) | 5,843 | |||||||||||||||||||||||||||
Fair value as of December 31, 2021 | $ | 1,934,096 | $ | 161,369 | $ | 65,550 | $ | 41,942 | $ | 2,202,957 | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2021 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2021 | $ | (717) | $ | 368 | $ | 1,006 | $ | 1,139 | $ | 1,796 |
Investments | ||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investments in the JVs) | Preferred Equity | Common Equity and Warrants | Total | ||||||||||||||||||||||||||||
Fair value as of September 30, 2021 | $ | 1,878,536 | $ | 176,317 | $ | 63,565 | $ | 43,163 | $ | 2,161,581 | ||||||||||||||||||||||
Purchases | 377,229 | 3,748 | 19,243 | 2,055 | 402,275 | |||||||||||||||||||||||||||
Sales and repayments | (300,229) | (21,135) | (163) | (8,946) | (330,473) | |||||||||||||||||||||||||||
Transfers in (a) | 7,858 | — | — | — | 7,858 | |||||||||||||||||||||||||||
Transfers out (a) | (17,070) | — | — | — | (17,070) | |||||||||||||||||||||||||||
Capitalized PIK interest income | 11,116 | 313 | — | — | 11,429 | |||||||||||||||||||||||||||
Accretion of OID | 13,911 | 1,198 | — | — | 15,109 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | (23,954) | 286 | 2,239 | (1,647) | (23,076) | |||||||||||||||||||||||||||
Net realized gains (losses) | 8,461 | — | (512) | (1,037) | 6,912 | |||||||||||||||||||||||||||
Fair value as of March 31, 2022 | $ | 1,955,858 | $ | 160,727 | $ | 84,372 | $ | 33,588 | $ | 2,234,545 | ||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of March 31, 2022 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the six months ended March 31, 2022 | $ | (11,506) | $ | 139 | $ | 2,005 | $ | (6,757) | $ | (16,119) |
Investments | Investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Debt | Subordinated Debt (including debt investment in SLF JV I) | Preferred Equity | Common Equity and Warrants | Total | Senior Secured Debt | Subordinated Debt (including debt investments in the JVs) | Preferred Equity | Common Equity and Warrants | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value as of September 30, 2020 | Fair value as of September 30, 2020 | $ | 904,237 | $ | 126,152 | $ | 29,959 | $ | 35,080 | $ | 1,095,428 | Fair value as of September 30, 2020 | $ | 904,237 | $ | 126,152 | $ | 29,959 | $ | 35,080 | $ | 1,095,428 | ||||||||||||||||||||||||||||||||||||||||||
Purchases | Purchases | 209,177 | — | — | — | 209,177 | Purchases | 769,926 | 46,286 | 19,958 | 2,377 | 838,547 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and repayments | Sales and repayments | (68,895) | (34,905) | (31) | (5,147) | (108,978) | Sales and repayments | (154,872) | (41,214) | (31) | (6,200) | (202,317) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers in | Transfers in | 18,458 | — | — | 437 | 18,895 | Transfers in | 18,458 | — | — | 437 | 18,895 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capitalized PIK interest income | Capitalized PIK interest income | 2,873 | — | — | — | 2,873 | Capitalized PIK interest income | 6,748 | — | — | — | 6,748 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of OID | Accretion of OID | 1,379 | 992 | — | — | 2,371 | Accretion of OID | 4,423 | 1,031 | — | — | 5,454 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | Net unrealized appreciation (depreciation) | 12,751 | 14,648 | (228) | 2,467 | 29,638 | Net unrealized appreciation (depreciation) | 42,884 | 17,308 | 1,879 | 15,402 | 77,473 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | (1,564) | 7,285 | 31 | 2,635 | 8,387 | Net realized gains (losses) | (1,514) | 8,391 | 31 | 3,243 | 10,151 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value as of December 31, 2020 | $ | 1,078,416 | $ | 114,172 | $ | 29,731 | $ | 35,472 | $ | 1,257,791 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of December 31, 2020 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the three months ended December 31, 2020 | $ | 15,672 | $ | (56) | $ | (228) | $ | 2,209 | $ | 17,597 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value as of March 31, 2021 | Fair value as of March 31, 2021 | $ | 1,590,290 | $ | 157,954 | $ | 51,796 | $ | 50,339 | $ | 1,850,379 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of March 31, 2021 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the six months ended March 31, 2021 | Net unrealized appreciation (depreciation) relating to Level 3 investments still held as of March 31, 2021 and reported within net unrealized appreciation (depreciation) in the Consolidated Statement of Operations for the six months ended March 31, 2021 | $ | 44,253 | $ | 3,398 | $ | 1,879 | $ | 16,556 | $ | 66,086 |
Asset | Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Secured Debt | Senior Secured Debt | $ | 1,458,164 | Market Yield | Market Yield | (b) | 7.0% | - | 30.0% | 10.4% | Senior Secured Debt | $ | 1,615,395 | Market Yield | Market Yield | (b) | 8.0% | - | 30.0% | 10.9% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
32,178 | Enterprise Value | EBITDA Multiple | (c) | 4.0x | - | 9.0x | 5.4x | 32,805 | Enterprise Value | EBITDA Multiple | (c) | 6.0x | - | 8.0x | 7.4x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
83,273 | Transaction Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | 24,078 | Transaction Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
360,481 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | 283,580 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt | Subordinated Debt | 9,265 | Market Yield | Market Yield | (b) | 13.0% | - | 15.0% | 13.9% | Subordinated Debt | 8,828 | Market Yield | Market Yield | (b) | 13.0% | - | 16.0% | 14.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Investments in the JVs | Debt Investments in the JVs | 152,104 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | Debt Investments in the JVs | 151,899 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred & Common Equity | Preferred & Common Equity | 31,329 | Enterprise Value | Revenue Multiple | (c) | 0.5x | - | 6.1x | 0.7x | Preferred & Common Equity | 30,847 | Enterprise Value | Revenue Multiple | (c) | 0.5x | - | 6.0x | 0.6x | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
68,256 | Enterprise Value | EBITDA Multiple | (c) | 3.0x | - | 20.5x | 11.0x | 61,704 | Enterprise Value | EBITDA Multiple | (c) | 3.3x | - | 20.5x | 12.6x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
189 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | 116 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7,718 | Transaction Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | 25,293 | Transaction Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,202,957 | Total | $ | 2,234,545 |
Asset | Fair Value | Valuation Technique | Unobservable Input | Range | Weighted Average (a) | ||||||||||||||||||||||||||||||||||||
Senior Secured Debt | $ | 1,413,373 | Market Yield | Market Yield | (b) | 4.0% | - | 30.0% | 10.4% | ||||||||||||||||||||||||||||||||
36,197 | Enterprise Value | EBITDA Multiple | (c) | 3.0x | - | 9.0x | 4.5x | ||||||||||||||||||||||||||||||||||
7,500 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||||||||||||||||||||||||||||
421,466 | Broker Quotations | Broker Quoted Price | (e) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
Subordinated Debt | 24,485 | Market Yield | Market Yield | (b) | 12.0% | - | 14.0% | 12.6% | |||||||||||||||||||||||||||||||||
Debt Investments in the JVs | 151,832 | Enterprise Value | N/A | (f) | N/A | - | N/A | N/A | |||||||||||||||||||||||||||||||||
Preferred & Common Equity | 6,188 | Enterprise Value | Revenue Multiple | (c) | 0.9x | - | 11.2x | 2.5x | |||||||||||||||||||||||||||||||||
93,520 | Enterprise Value | EBITDA Multiple | (c) | 3.0x | - | 35.0x | 15.9x | ||||||||||||||||||||||||||||||||||
698 | Enterprise Value | Asset Multiple | (c) | 0.9x | - | 1.1x | 1.0x | ||||||||||||||||||||||||||||||||||
6,322 | Transactions Precedent | Transaction Price | (d) | N/A | - | N/A | N/A | ||||||||||||||||||||||||||||||||||
Total | $ | 2,161,581 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Syndicated Facility payable | Syndicated Facility payable | $ | 495,000 | $ | 495,000 | $ | — | $ | — | $ | 495,000 | Syndicated Facility payable | $ | 560,000 | $ | 560,000 | $ | — | $ | — | $ | 560,000 | ||||||||||||||||||||||||||||||||||||||||||
Citibank Facility payable | Citibank Facility payable | 155,000 | 155,000 | — | — | 155,000 | Citibank Facility payable | 185,000 | 185,000 | — | — | 185,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount) | 2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount) | 296,053 | 312,750 | — | 312,750 | — | 2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount) | 296,365 | 294,900 | — | 294,900 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment) | 2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment) | 339,408 | 347,372 | — | 347,372 | — | 2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment) | 322,295 | 320,394 | — | 320,394 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,285,461 | $ | 1,310,122 | $ | — | $ | 660,122 | $ | 650,000 | Total | $ | 1,363,660 | $ | 1,360,294 | $ | — | $ | 615,294 | $ | 745,000 |
Carrying Value | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Syndicated Facility payable | $ | 495,000 | $ | 495,000 | $ | — | $ | — | $ | 495,000 | ||||||||||||||||||||||
Citibank Facility payable | 135,000 | 135,000 | — | — | 135,000 | |||||||||||||||||||||||||||
2025 Notes payable (carrying value is net of unamortized financing costs and unaccreted discount) | 295,740 | 314,541 | — | 314,541 | — | |||||||||||||||||||||||||||
2027 Notes payable (carrying value is net of unamortized financing costs, unaccreted discount and interest rate swap fair value adjustment) | 343,003 | 351,134 | — | 351,134 | — | |||||||||||||||||||||||||||
Total | $ | 1,268,743 | $ | 1,295,675 | $ | — | $ | 665,675 | $ | 630,000 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost: | Cost: | % of Total Investments | % of Total Investments | Cost: | % of Total Investments | % of Total Investments | ||||||||||||||||||||||||||||||||||||||||||||||
Senior secured debt | Senior secured debt | $ | 2,238,661 | 86.94 | % | $ | 2,179,907 | 85.85 | % | Senior secured debt | $ | 2,278,468 | 85.67 | % | $ | 2,179,907 | 85.85 | % | ||||||||||||||||||||||||||||||||||
Debt investments in the JVs | Debt investments in the JVs | 146,838 | 5.70 | % | 146,955 | 5.79 | % | Debt investments in the JVs | 146,843 | 5.52 | % | 146,955 | 5.79 | % | ||||||||||||||||||||||||||||||||||||||
Preferred equity | Preferred equity | 66,918 | 2.60 | % | 65,939 | 2.60 | % | Preferred equity | 84,881 | 3.19 | % | 65,939 | 2.60 | % | ||||||||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 54,607 | 2.05 | % | 42,316 | 1.67 | % | |||||||||||||||||||||||||||||||||||||||||||||
LLC equity interests of the JVs | LLC equity interests of the JVs | 49,322 | 1.92 | % | 49,322 | 1.94 | % | LLC equity interests of the JVs | 49,322 | 1.85 | % | 49,322 | 1.94 | % | ||||||||||||||||||||||||||||||||||||||
Common equity and warrants | Common equity and warrants | 46,825 | 1.82 | % | 54,682 | 2.15 | % | Common equity and warrants | 45,627 | 1.72 | % | 54,682 | 2.15 | % | ||||||||||||||||||||||||||||||||||||||
Subordinated debt | 26,306 | 1.02 | % | 42,316 | 1.67 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,574,870 | 100.00 | % | $ | 2,539,121 | 100.00 | % | Total | $ | 2,659,748 | 100.00 | % | $ | 2,539,121 | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value: | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured debt | Senior secured debt | $ | 2,263,273 | 87.43 | % | 170.81 | % | $ | 2,217,243 | 86.72 | % | 168.89 | % | Senior secured debt | $ | 2,283,940 | 86.36 | % | 171.69 | % | $ | 2,217,243 | 86.72 | % | 168.89 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Debt investments in the JVs | Debt investments in the JVs | 152,104 | 5.88 | % | 11.48 | % | 151,832 | 5.94 | % | 11.56 | % | Debt investments in the JVs | 151,899 | 5.74 | % | 11.41 | % | 151,832 | 5.94 | % | 11.56 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred equity | Preferred equity | 65,550 | 2.53 | % | 4.95 | % | 63,565 | 2.49 | % | 4.84 | % | Preferred equity | 84,372 | 3.19 | % | 6.34 | % | 63,565 | 2.49 | % | 4.84 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 54,129 | 2.05 | % | 4.07 | % | 42,681 | 1.67 | % | 3.25 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LLC equity interests of the JVs | LLC equity interests of the JVs | 36,730 | 1.39 | % | 2.76 | % | 37,651 | 1.47 | % | 2.87 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common equity and warrants | Common equity and warrants | 42,309 | 1.63 | % | 3.19 | % | 43,657 | 1.71 | % | 3.33 | % | Common equity and warrants | 33,705 | 1.27 | % | 2.53 | % | 43,657 | 1.71 | % | 3.33 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
LLC equity interests of the JVs | 38,461 | 1.49 | % | 2.90 | % | 37,651 | 1.47 | % | 2.87 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debt | 26,926 | 1.04 | % | 2.03 | % | 42,681 | 1.67 | % | 3.25 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,588,623 | 100.00 | % | 195.36 | % | $ | 2,556,629 | 100.00 | % | 194.74 | % | Total | $ | 2,644,775 | 100.00 | % | 198.80 | % | $ | 2,556,629 | 100.00 | % | 194.74 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost: | Cost: | % of Total Investments | % of Total Investments | Cost: | % of Total Investments | % of Total Investments | ||||||||||||||||||||||||||||||||||||||||||||||
Northeast | Northeast | $ | 746,398 | 28.99 | % | $ | 720,781 | 28.39 | % | Northeast | $ | 745,395 | 28.03 | % | $ | 720,781 | 28.39 | % | ||||||||||||||||||||||||||||||||||
Midwest | Midwest | 374,014 | 14.53 | % | 385,846 | 15.20 | % | Midwest | 387,138 | 14.56 | % | 385,846 | 15.20 | % | ||||||||||||||||||||||||||||||||||||||
West | West | 332,784 | 12.92 | % | 365,471 | 14.39 | % | West | 353,076 | 13.27 | % | 365,471 | 14.39 | % | ||||||||||||||||||||||||||||||||||||||
Southeast | Southeast | 323,392 | 12.56 | % | 294,339 | 11.59 | % | Southeast | 339,740 | 12.77 | % | 294,339 | 11.59 | % | ||||||||||||||||||||||||||||||||||||||
International | International | 309,697 | 12.03 | % | 268,817 | 10.59 | % | International | 316,793 | 11.91 | % | 268,817 | 10.59 | % | ||||||||||||||||||||||||||||||||||||||
Southwest | Southwest | 236,060 | 9.17 | % | 256,227 | 10.09 | % | Southwest | 235,759 | 8.86 | % | 256,227 | 10.09 | % | ||||||||||||||||||||||||||||||||||||||
South | South | 161,518 | 6.27 | % | 156,764 | 6.17 | % | South | 190,719 | 7.17 | % | 156,764 | 6.17 | % | ||||||||||||||||||||||||||||||||||||||
Northwest | Northwest | 91,007 | 3.53 | % | 90,876 | 3.58 | % | Northwest | 91,128 | 3.43 | % | 90,876 | 3.58 | % | ||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,574,870 | 100.00 | % | $ | 2,539,121 | 100.00 | % | Total | $ | 2,659,748 | 100.00 | % | $ | 2,539,121 | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value: | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northeast | Northeast | $ | 749,297 | 28.94 | % | 56.54 | % | $ | 721,647 | 28.24 | % | 54.97 | % | Northeast | $ | 733,354 | 27.73 | % | 55.13 | % | $ | 721,647 | 28.24 | % | 54.97 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Midwest | Midwest | 368,848 | 14.25 | % | 27.84 | % | 382,475 | 14.96 | % | 29.13 | % | Midwest | 380,149 | 14.37 | % | 28.57 | % | 382,475 | 14.96 | % | 29.13 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
West | West | 336,910 | 13.02 | % | 25.43 | % | 371,257 | 14.52 | % | 28.28 | % | West | 354,460 | 13.40 | % | 26.64 | % | 371,257 | 14.52 | % | 28.28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Southeast | Southeast | 327,294 | 12.64 | % | 24.70 | % | 299,486 | 11.71 | % | 22.81 | % | Southeast | 341,912 | 12.93 | % | 25.70 | % | 299,486 | 11.71 | % | 22.81 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
International | International | 314,423 | 12.15 | % | 23.73 | % | 275,904 | 10.79 | % | 21.02 | % | International | 317,169 | 11.99 | % | 23.84 | % | 275,904 | 10.79 | % | 21.02 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Southwest | Southwest | 237,831 | 9.19 | % | 17.95 | % | 258,940 | 10.13 | % | 19.72 | % | Southwest | 236,889 | 8.96 | % | 17.81 | % | 258,940 | 10.13 | % | 19.72 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
South | South | 162,328 | 6.27 | % | 12.25 | % | 155,526 | 6.08 | % | 11.85 | % | South | 189,343 | 7.16 | % | 14.23 | % | 155,526 | 6.08 | % | 11.85 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest | Northwest | 91,692 | 3.54 | % | 6.92 | % | 91,394 | 3.57 | % | 6.96 | % | Northwest | 91,499 | 3.46 | % | 6.88 | % | 91,394 | 3.57 | % | 6.96 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,588,623 | 100.00 | % | 195.36 | % | $ | 2,556,629 | 100.00 | % | 194.74 | % | Total | $ | 2,644,775 | 100.00 | % | 198.80 | % | $ | 2,556,629 | 100.00 | % | 194.74 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost: | Cost: | % of Total Investments | % of Total Investments | Cost: | % of Total Investments | % of Total Investments | ||||||||||||||||||||||||||||||||||||||||||||||
Application Software | Application Software | $ | 413,870 | 16.04 | % | $ | 367,265 | 14.49 | % | Application Software | $ | 407,165 | 15.35 | % | $ | 367,265 | 14.49 | % | ||||||||||||||||||||||||||||||||||
Multi-Sector Holdings (1) | Multi-Sector Holdings (1) | 196,160 | 7.62 | 196,277 | 7.73 | Multi-Sector Holdings (1) | 196,165 | 7.38 | 196,277 | 7.73 | ||||||||||||||||||||||||||||||||||||||||||
Pharmaceuticals | Pharmaceuticals | 138,214 | 5.37 | 138,250 | 5.44 | Pharmaceuticals | 136,971 | 5.15 | 138,250 | 5.44 | ||||||||||||||||||||||||||||||||||||||||||
Data Processing & Outsourced Services | Data Processing & Outsourced Services | 120,423 | 4.68 | 120,381 | 4.74 | Data Processing & Outsourced Services | 120,429 | 4.53 | 120,381 | 4.74 | ||||||||||||||||||||||||||||||||||||||||||
Biotechnology | Biotechnology | 115,698 | 4.49 | 111,856 | 4.41 | Biotechnology | 117,424 | 4.41 | 111,856 | 4.41 | ||||||||||||||||||||||||||||||||||||||||||
Personal Products | 102,886 | 4.00 | 103,642 | 4.08 | ||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Machinery | Industrial Machinery | 87,272 | 3.39 | 88,231 | 3.47 | Industrial Machinery | 91,540 | 3.44 | 88,231 | 3.47 | ||||||||||||||||||||||||||||||||||||||||||
Health Care Services | Health Care Services | 78,625 | 3.05 | 84,750 | 3.34 | Health Care Services | 84,314 | 3.17 | 84,750 | 3.34 | ||||||||||||||||||||||||||||||||||||||||||
Health Care Technology | Health Care Technology | 73,686 | 2.77 | 13,877 | 0.55 | |||||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 71,219 | 2.68 | 67,629 | 2.66 | |||||||||||||||||||||||||||||||||||||||||||||||
Specialized Finance | Specialized Finance | 68,433 | 2.66 | 68,554 | 2.70 | Specialized Finance | 70,476 | 2.65 | 68,554 | 2.70 | ||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | 67,863 | 2.64 | 67,629 | 2.66 | ||||||||||||||||||||||||||||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | Fertilizers & Agricultural Chemicals | 66,972 | 2.60 | 66,713 | 2.63 | Fertilizers & Agricultural Chemicals | 64,346 | 2.42 | 66,713 | 2.63 | ||||||||||||||||||||||||||||||||||||||||||
Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | 63,159 | 2.45 | 62,233 | 2.45 | Internet & Direct Marketing Retail | 63,119 | 2.37 | 62,233 | 2.45 | ||||||||||||||||||||||||||||||||||||||||||
Construction & Engineering | Construction & Engineering | 61,514 | 2.39 | 61,874 | 2.44 | Construction & Engineering | 61,355 | 2.31 | 61,874 | 2.44 | ||||||||||||||||||||||||||||||||||||||||||
Internet Services & Infrastructure | Internet Services & Infrastructure | 53,268 | 2.07 | 46,917 | 1.85 | Internet Services & Infrastructure | 53,537 | 2.01 | 46,917 | 1.85 | ||||||||||||||||||||||||||||||||||||||||||
Automotive Retail | Automotive Retail | 53,318 | 2.00 | 41,800 | 1.65 | |||||||||||||||||||||||||||||||||||||||||||||||
Personal Products | Personal Products | 52,734 | 1.98 | 103,642 | 4.08 | |||||||||||||||||||||||||||||||||||||||||||||||
Home Improvement Retail | Home Improvement Retail | 46,245 | 1.80 | 46,487 | 1.83 | Home Improvement Retail | 46,000 | 1.73 | 46,487 | 1.83 | ||||||||||||||||||||||||||||||||||||||||||
Metal & Glass Containers | Metal & Glass Containers | 45,898 | 1.73 | 17,443 | 0.69 | |||||||||||||||||||||||||||||||||||||||||||||||
Airport Services | Airport Services | 42,092 | 1.63 | 41,699 | 1.64 | Airport Services | 42,487 | 1.60 | 41,699 | 1.64 | ||||||||||||||||||||||||||||||||||||||||||
Automotive Retail | 41,889 | 1.63 | 41,800 | 1.65 | ||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Distributors | Health Care Distributors | 41,625 | 1.56 | 19,698 | 0.78 | |||||||||||||||||||||||||||||||||||||||||||||||
Leisure Facilities | Leisure Facilities | 41,384 | 1.61 | 25,162 | 0.99 | Leisure Facilities | 41,623 | 1.56 | 25,162 | 0.99 | ||||||||||||||||||||||||||||||||||||||||||
Real Estate Services | Real Estate Services | 40,396 | 1.57 | 40,445 | 1.59 | Real Estate Services | 40,344 | 1.52 | 40,445 | 1.59 | ||||||||||||||||||||||||||||||||||||||||||
Diversified Support Services | Diversified Support Services | 38,934 | 1.46 | 40,666 | 1.60 | |||||||||||||||||||||||||||||||||||||||||||||||
Specialty Chemicals | Specialty Chemicals | 40,024 | 1.55 | 46,731 | 1.84 | Specialty Chemicals | 37,362 | 1.40 | 46,731 | 1.84 | ||||||||||||||||||||||||||||||||||||||||||
Diversified Support Services | 38,897 | 1.51 | 40,666 | 1.60 | ||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Storage & Transportation | Oil & Gas Storage & Transportation | 36,967 | 1.44 | 36,612 | 1.44 | Oil & Gas Storage & Transportation | 36,603 | 1.38 | 36,612 | 1.44 | ||||||||||||||||||||||||||||||||||||||||||
Health Care Supplies | Health Care Supplies | 35,803 | 1.39 | 29,650 | 1.17 | Health Care Supplies | 36,031 | 1.35 | 29,650 | 1.17 | ||||||||||||||||||||||||||||||||||||||||||
Insurance Brokers | Insurance Brokers | 35,728 | 1.39 | 25,515 | 1.00 | Insurance Brokers | 35,683 | 1.34 | 25,515 | 1.00 | ||||||||||||||||||||||||||||||||||||||||||
Soft Drinks | Soft Drinks | 34,036 | 1.32 | 33,410 | 1.32 | Soft Drinks | 34,105 | 1.28 | 33,410 | 1.32 | ||||||||||||||||||||||||||||||||||||||||||
Electrical Components & Equipment | Electrical Components & Equipment | 32,117 | 1.25 | 32,127 | 1.27 | Electrical Components & Equipment | 32,956 | 1.24 | 32,127 | 1.27 | ||||||||||||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | Integrated Telecommunication Services | 29,461 | 1.11 | 47,059 | 1.85 | |||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Operating Companies | Real Estate Operating Companies | 28,935 | 1.09 | 27,531 | 1.08 | |||||||||||||||||||||||||||||||||||||||||||||||
Other Diversified Financial Services | Other Diversified Financial Services | 28,837 | 1.08 | 16,104 | 0.63 | |||||||||||||||||||||||||||||||||||||||||||||||
Advertising | Advertising | 28,026 | 1.09 | 28,649 | 1.13 | Advertising | 28,042 | 1.05 | 28,649 | 1.13 | ||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Refining & Marketing | Oil & Gas Refining & Marketing | 27,771 | 1.08 | 36,044 | 1.42 | Oil & Gas Refining & Marketing | 27,761 | 1.04 | 36,044 | 1.42 | ||||||||||||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | 26,752 | 1.04 | 47,059 | 1.85 | ||||||||||||||||||||||||||||||||||||||||||||||||
Movies & Entertainment | Movies & Entertainment | 26,044 | 1.01 | 26,002 | 1.02 | Movies & Entertainment | 26,082 | 0.98 | 26,002 | 1.02 | ||||||||||||||||||||||||||||||||||||||||||
Airlines | Airlines | 25,820 | 0.97 | 22,417 | 0.88 | |||||||||||||||||||||||||||||||||||||||||||||||
Distributors | Distributors | 25,389 | 0.99 | — | — | Distributors | 25,309 | 0.95 | — | — | ||||||||||||||||||||||||||||||||||||||||||
Real Estate Operating Companies | 24,951 | 0.97 | 27,531 | 1.08 | ||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Technology | 24,685 | 0.96 | 13,877 | 0.55 | ||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Equipment | Health Care Equipment | 23,894 | 0.93 | 23,674 | 0.93 | Health Care Equipment | 24,009 | 0.90 | 23,674 | 0.93 | ||||||||||||||||||||||||||||||||||||||||||
Airlines | 21,288 | 0.83 | 22,417 | 0.88 | ||||||||||||||||||||||||||||||||||||||||||||||||
Metal & Glass Containers | 21,181 | 0.82 | 17,443 | 0.69 | ||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Distributors | 19,666 | 0.76 | 19,698 | 0.78 | ||||||||||||||||||||||||||||||||||||||||||||||||
Environmental & Facilities Services | Environmental & Facilities Services | 19,610 | 0.74 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Home Furnishings | Home Furnishings | 19,542 | 0.76 | 19,537 | 0.77 | Home Furnishings | 19,543 | 0.73 | 19,537 | 0.77 | ||||||||||||||||||||||||||||||||||||||||||
Other Diversified Financial Services | 19,528 | 0.76 | 16,104 | 0.63 | ||||||||||||||||||||||||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | 19,476 | 0.76 | 23,458 | 0.92 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cable & Satellite | Cable & Satellite | 18,387 | 0.71 | 26,730 | 1.05 | Cable & Satellite | 17,964 | 0.68 | 26,730 | 1.05 | ||||||||||||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | 16,016 | 0.62 | 16,079 | 0.63 | ||||||||||||||||||||||||||||||||||||||||||||||||
Consumer Finance | Consumer Finance | 14,471 | 0.54 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Systems Software | Systems Software | 12,801 | 0.48 | 6,647 | 0.26 | |||||||||||||||||||||||||||||||||||||||||||||||
Auto Parts & Equipment | Auto Parts & Equipment | 12,468 | 0.48 | 12,466 | 0.49 | Auto Parts & Equipment | 12,470 | 0.47 | 12,466 | 0.49 | ||||||||||||||||||||||||||||||||||||||||||
IT Consulting & Other Services | IT Consulting & Other Services | 11,724 | 0.44 | 7,598 | 0.30 | |||||||||||||||||||||||||||||||||||||||||||||||
Air Freight & Logistics | Air Freight & Logistics | 9,664 | 0.38 | 4,925 | 0.19 | Air Freight & Logistics | 9,664 | 0.36 | 4,925 | 0.19 | ||||||||||||||||||||||||||||||||||||||||||
Restaurants | Restaurants | 9,323 | 0.36 | 9,317 | 0.37 | Restaurants | 9,328 | 0.35 | 9,317 | 0.37 | ||||||||||||||||||||||||||||||||||||||||||
IT Consulting & Other Services | 7,591 | 0.29 | 7,598 | 0.30 | ||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Products | Leisure Products | 7,169 | 0.27 | 6,599 | 0.26 | |||||||||||||||||||||||||||||||||||||||||||||||
Alternative Carriers | Alternative Carriers | 5,608 | 0.21 | 6,578 | 0.26 | |||||||||||||||||||||||||||||||||||||||||||||||
Trading Companies & Distributors | Trading Companies & Distributors | 5,403 | 0.20 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Research & Consulting Services | Research & Consulting Services | 7,354 | 0.29 | 7,354 | 0.29 | Research & Consulting Services | 5,236 | 0.20 | 7,354 | 0.29 | ||||||||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | 6,878 | 0.27 | 9,884 | 0.39 | ||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Products | 6,832 | 0.27 | 6,599 | 0.26 | ||||||||||||||||||||||||||||||||||||||||||||||||
Systems Software | 6,647 | 0.26 | 6,647 | 0.26 | ||||||||||||||||||||||||||||||||||||||||||||||||
Environmental & Facilities Services | 5,411 | 0.21 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Apparel, Accessories & Luxury Goods | Apparel, Accessories & Luxury Goods | 5,165 | 0.20 | 5,165 | 0.20 | Apparel, Accessories & Luxury Goods | 5,165 | 0.19 | 5,165 | 0.20 | ||||||||||||||||||||||||||||||||||||||||||
Integrated Oil & Gas | Integrated Oil & Gas | 4,847 | 0.19 | 4,842 | 0.19 | Integrated Oil & Gas | 4,853 | 0.18 | 4,842 | 0.19 | ||||||||||||||||||||||||||||||||||||||||||
Alternative Carriers | 4,710 | 0.18 | 6,578 | 0.26 | ||||||||||||||||||||||||||||||||||||||||||||||||
Food Distributors | Food Distributors | 4,633 | 0.18 | 4,625 | 0.18 | Food Distributors | 4,639 | 0.17 | 4,625 | 0.18 | ||||||||||||||||||||||||||||||||||||||||||
Apparel Retail | Apparel Retail | 4,418 | 0.17 | — | — | Apparel Retail | 4,413 | 0.17 | — | — | ||||||||||||||||||||||||||||||||||||||||||
Housewares & Specialties | Housewares & Specialties | 3,700 | 0.14 | 1,875 | 0.07 | |||||||||||||||||||||||||||||||||||||||||||||||
Diversified Banks | Diversified Banks | 3,515 | 0.14 | 3,515 | 0.14 | Diversified Banks | 3,515 | 0.13 | 3,515 | 0.14 | ||||||||||||||||||||||||||||||||||||||||||
Technology Distributors | Technology Distributors | 3,163 | 0.12 | 3,163 | 0.12 | Technology Distributors | 3,163 | 0.12 | 3,163 | 0.12 | ||||||||||||||||||||||||||||||||||||||||||
Food Retail | 2,498 | 0.10 | 3,745 | 0.15 | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction Materials | Construction Materials | 2,267 | 0.09 | 2,245 | 0.09 | Construction Materials | 2,288 | 0.09 | 2,245 | 0.09 | ||||||||||||||||||||||||||||||||||||||||||
Electronic Components | Electronic Components | 2,083 | 0.08 | 10,080 | 0.40 | Electronic Components | 2,086 | 0.08 | 10,080 | 0.40 | ||||||||||||||||||||||||||||||||||||||||||
Housewares & Specialties | 1,889 | 0.07 | 1,875 | 0.07 | ||||||||||||||||||||||||||||||||||||||||||||||||
Specialized REITs | Specialized REITs | 1,404 | 0.05 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Education Services | Education Services | 983 | 0.04 | 981 | 0.04 | Education Services | 985 | 0.04 | 981 | 0.04 | ||||||||||||||||||||||||||||||||||||||||||
Communications Equipment | Communications Equipment | 841 | 0.03 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | Independent Power Producers & Energy Traders | — | — | 23,458 | 0.92 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial Printing | Commercial Printing | — | — | 19,685 | 0.78 | Commercial Printing | — | — | 19,685 | 0.78 | ||||||||||||||||||||||||||||||||||||||||||
Managed Health Care | Managed Health Care | — | — | 18,654 | 0.73 | Managed Health Care | — | — | 18,654 | 0.73 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,574,870 | 100.00 | % | $ | 2,539,121 | 100.00 | % | ||||||||||||||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | Thrifts & Mortgage Finance | — | — | 16,079 | 0.63 | |||||||||||||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | Property & Casualty Insurance | — | — | 9,884 | 0.39 | |||||||||||||||||||||||||||||||||||||||||||||||
Food Retail | Food Retail | — | — | 3,745 | 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 2,659,748 | 100.00 | % | $ | 2,539,121 | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value: | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | Fair Value: | % of Total Investments | % of Net Assets | % of Total Investments | % of Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Application Software | Application Software | $ | 418,247 | 16.20 | % | 31.59 | % | $ | 372,606 | 14.58 | % | 28.39 | % | Application Software | $ | 409,310 | 15.44 | % | 30.79 | % | $ | 372,606 | 14.58 | % | 28.39 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-Sector Holdings (1) | Multi-Sector Holdings (1) | 190,565 | 7.36 | 14.38 | 189,483 | 7.41 | 14.43 | Multi-Sector Holdings (1) | 188,629 | 7.13 | 14.18 | 189,483 | 7.41 | 14.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pharmaceuticals | Pharmaceuticals | 140,675 | 5.43 | 10.62 | 142,194 | 5.56 | 10.83 | Pharmaceuticals | 136,159 | 5.15 | 10.23 | 142,194 | 5.56 | 10.83 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Biotechnology | Biotechnology | 117,303 | 4.53 | 8.85 | 113,641 | 4.44 | 8.66 | Biotechnology | 117,881 | 4.46 | 8.86 | 113,641 | 4.44 | 8.66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Data Processing & Outsourced Services | Data Processing & Outsourced Services | 113,760 | 4.39 | 8.59 | 113,923 | 4.46 | 8.68 | Data Processing & Outsourced Services | 112,989 | 4.27 | 8.49 | 113,923 | 4.46 | 8.68 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Products | 105,428 | 4.07 | 7.96 | 105,530 | 4.13 | 8.04 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Machinery | Industrial Machinery | 88,577 | 3.42 | 6.68 | 90,218 | 3.53 | 6.87 | Industrial Machinery | 91,702 | 3.47 | 6.89 | 90,218 | 3.53 | 6.87 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Services | Health Care Services | 80,118 | 3.10 | 6.05 | 84,735 | 3.31 | 6.45 | Health Care Services | 78,481 | 2.97 | 5.90 | 84,735 | 3.31 | 6.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Technology | Health Care Technology | 73,989 | 2.80 | 5.56 | 13,960 | 0.55 | 1.06 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 72,585 | 2.74 | 5.46 | 69,602 | 2.72 | 5.30 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | 70,248 | 2.71 | 5.30 | 68,424 | 2.68 | 5.21 | Internet & Direct Marketing Retail | 70,653 | 2.67 | 5.31 | 68,424 | 2.68 | 5.21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aerospace & Defense | 69,823 | 2.70 | 5.27 | 69,602 | 2.72 | 5.30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialized Finance | Specialized Finance | 68,426 | 2.64 | 5.16 | 68,844 | 2.69 | 5.24 | Specialized Finance | 69,569 | 2.63 | 5.23 | 68,844 | 2.69 | 5.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | Fertilizers & Agricultural Chemicals | 67,774 | 2.62 | 5.11 | 67,527 | 2.64 | 5.14 | Fertilizers & Agricultural Chemicals | 65,224 | 2.47 | 4.90 | 67,527 | 2.64 | 5.14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction & Engineering | Construction & Engineering | 62,730 | 2.42 | 4.73 | 63,109 | 2.47 | 4.81 | Construction & Engineering | 62,210 | 2.35 | 4.68 | 63,109 | 2.47 | 4.81 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Internet Services & Infrastructure | Internet Services & Infrastructure | 54,236 | 2.10 | 4.09 | 47,923 | 1.87 | 3.65 | Internet Services & Infrastructure | 54,445 | 2.06 | 4.09 | 47,923 | 1.87 | 3.65 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Automotive Retail | Automotive Retail | 54,194 | 2.05 | 4.07 | 42,133 | 1.65 | 3.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Products | Personal Products | 53,318 | 2.02 | 4.01 | 105,530 | 4.13 | 8.04 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Improvement Retail | Home Improvement Retail | 46,150 | 1.78 | 3.48 | 46,488 | 1.82 | 3.54 | Home Improvement Retail | 46,234 | 1.75 | 3.48 | 46,488 | 1.82 | 3.54 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Automotive Retail | 44,339 | 1.71 | 3.35 | 42,133 | 1.65 | 3.21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Metal & Glass Containers | Metal & Glass Containers | 45,926 | 1.74 | 3.45 | 17,413 | 0.68 | 1.33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Distributors | Health Care Distributors | 41,656 | 1.58 | 3.13 | 19,683 | 0.77 | 1.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Airport Services | Airport Services | 41,252 | 1.59 | 3.11 | 40,776 | 1.59 | 3.11 | Airport Services | 41,505 | 1.57 | 3.12 | 40,776 | 1.59 | 3.11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Services | Real Estate Services | 40,810 | 1.58 | 3.08 | 41,225 | 1.61 | 3.14 | Real Estate Services | 40,602 | 1.54 | 3.05 | 41,225 | 1.61 | 3.14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Facilities | Leisure Facilities | 39,686 | 1.50 | 2.98 | 22,888 | 0.90 | 1.74 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diversified Support Services | Diversified Support Services | 39,168 | 1.51 | 2.96 | 40,888 | 1.60 | 3.11 | Diversified Support Services | 39,037 | 1.48 | 2.93 | 40,888 | 1.60 | 3.11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Facilities | 38,952 | 1.50 | 2.94 | 22,888 | 0.90 | 1.74 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialty Chemicals | 38,813 | 1.50 | 2.93 | 46,559 | 1.82 | 3.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Insurance Brokers | Insurance Brokers | 38,123 | 1.47 | 2.88 | 27,612 | 1.08 | 2.10 | Insurance Brokers | 37,394 | 1.41 | 2.81 | 27,612 | 1.08 | 2.10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Supplies | Health Care Supplies | 36,239 | 1.40 | 2.73 | 30,186 | 1.18 | 2.30 | Health Care Supplies | 36,331 | 1.37 | 2.73 | 30,186 | 1.18 | 2.30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialty Chemicals | Specialty Chemicals | 35,897 | 1.36 | 2.70 | 46,559 | 1.82 | 3.55 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Soft Drinks | Soft Drinks | 34,009 | 1.31 | 2.57 | 33,410 | 1.31 | 2.54 | Soft Drinks | 33,839 | 1.28 | 2.54 | 33,410 | 1.31 | 2.54 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Storage & Transportation | Oil & Gas Storage & Transportation | 33,977 | 1.31 | 2.56 | 34,462 | 1.35 | 2.63 | Oil & Gas Storage & Transportation | 33,516 | 1.27 | 2.52 | 34,462 | 1.35 | 2.63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electrical Components & Equipment | Electrical Components & Equipment | 32,057 | 1.24 | 2.42 | 32,142 | 1.26 | 2.45 | Electrical Components & Equipment | 32,348 | 1.22 | 2.43 | 32,142 | 1.26 | 2.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | Integrated Telecommunication Services | 30,969 | 1.17 | 2.33 | 49,607 | 1.94 | 3.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Operating Companies | Real Estate Operating Companies | 29,569 | 1.12 | 2.22 | 28,341 | 1.11 | 2.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advertising | Advertising | 29,668 | 1.15 | 2.24 | 30,423 | 1.19 | 2.32 | Advertising | 28,926 | 1.09 | 2.17 | 30,423 | 1.19 | 2.32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Integrated Telecommunication Services | 28,481 | 1.10 | 2.15 | 49,607 | 1.94 | 3.78 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas Refining & Marketing | Oil & Gas Refining & Marketing | 28,065 | 1.08 | 2.12 | 36,546 | 1.43 | 2.78 | Oil & Gas Refining & Marketing | 28,071 | 1.06 | 2.11 | 36,546 | 1.43 | 2.78 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Diversified Financial Services | Other Diversified Financial Services | 27,813 | 1.05 | 2.09 | 15,908 | 0.62 | 1.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movies & Entertainment | Movies & Entertainment | 26,964 | 1.04 | 2.03 | 27,048 | 1.06 | 2.06 | Movies & Entertainment | 26,903 | 1.02 | 2.02 | 27,048 | 1.06 | 2.06 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Operating Companies | 25,806 | 1.00 | 1.95 | 28,341 | 1.11 | 2.16 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Airlines | Airlines | 25,830 | 0.98 | 1.94 | 24,554 | 0.96 | 1.87 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributors | Distributors | 25,594 | 0.99 | 1.93 | — | — | — | Distributors | 25,374 | 0.96 | 1.91 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Technology | 25,053 | 0.97 | 1.89 | 13,960 | 0.55 | 1.06 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Equipment | Health Care Equipment | 23,839 | 0.92 | 1.80 | 23,763 | 0.93 | 1.81 | Health Care Equipment | 23,862 | 0.90 | 1.79 | 23,763 | 0.93 | 1.81 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Airlines | 21,527 | 0.83 | 1.62 | 24,554 | 0.96 | 1.87 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Metal & Glass Containers | 21,279 | 0.82 | 1.61 | 17,413 | 0.68 | 1.33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home Furnishings | Home Furnishings | 19,738 | 0.76 | 1.49 | 19,735 | 0.77 | 1.50 | Home Furnishings | 19,619 | 0.74 | 1.47 | 19,735 | 0.77 | 1.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | 19,713 | 0.76 | 1.49 | 23,552 | 0.92 | 1.79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Care Distributors | 19,677 | 0.76 | 1.48 | 19,683 | 0.77 | 1.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Diversified Financial Services | 18,943 | 0.73 | 1.43 | 15,908 | 0.62 | 1.21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Environmental & Facilities Services | Environmental & Facilities Services | 19,460 | 0.74 | 1.46 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cable & Satellite | Cable & Satellite | 18,614 | 0.72 | 1.40 | 27,048 | 1.06 | 2.06 | Cable & Satellite | 18,149 | 0.69 | 1.36 | 27,048 | 1.06 | 2.06 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | 15,863 | 0.61 | 1.20 | 15,942 | 0.62 | 1.21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer Finance | Consumer Finance | 14,539 | 0.55 | 1.09 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Systems Software | Systems Software | 12,518 | 0.47 | 0.94 | 6,769 | 0.26 | 0.52 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Auto Parts & Equipment | Auto Parts & Equipment | 12,461 | 0.48 | 0.94 | 12,365 | 0.48 | 0.94 | Auto Parts & Equipment | 12,469 | 0.47 | 0.94 | 12,365 | 0.48 | 0.94 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IT Consulting & Other Services | IT Consulting & Other Services | 11,501 | 0.43 | 0.86 | 7,443 | 0.29 | 0.57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Air Freight & Logistics | Air Freight & Logistics | 9,851 | 0.38 | 0.74 | 4,981 | 0.19 | 0.38 | Air Freight & Logistics | 9,706 | 0.37 | 0.73 | 4,981 | 0.19 | 0.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restaurants | Restaurants | 9,446 | 0.36 | 0.71 | 9,451 | 0.37 | 0.72 | Restaurants | 9,341 | 0.35 | 0.70 | 9,451 | 0.37 | 0.72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Products | Leisure Products | 7,170 | 0.27 | 0.54 | 6,599 | 0.26 | 0.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Carriers | Alternative Carriers | 5,743 | 0.22 | 0.43 | 6,939 | 0.27 | 0.53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Research & Consulting Services | Research & Consulting Services | 7,541 | 0.29 | 0.57 | 7,606 | 0.30 | 0.58 | Research & Consulting Services | 5,276 | 0.20 | 0.40 | 7,606 | 0.30 | 0.58 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IT Consulting & Other Services | 7,317 | 0.28 | 0.55 | 7,443 | 0.29 | 0.57 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | 6,918 | 0.27 | 0.52 | 9,949 | 0.39 | 0.76 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leisure Products | 6,832 | 0.26 | 0.52 | 6,599 | 0.26 | 0.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Systems Software | 6,745 | 0.26 | 0.51 | 6,769 | 0.26 | 0.52 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Environmental & Facilities Services | 5,362 | 0.21 | 0.40 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Carriers | 4,949 | 0.19 | 0.37 | 6,939 | 0.27 | 0.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Companies & Distributors | Trading Companies & Distributors | 4,902 | 0.19 | 0.37 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Integrated Oil & Gas | Integrated Oil & Gas | 4,897 | 0.19 | 0.37 | 4,884 | 0.19 | 0.37 | Integrated Oil & Gas | 4,897 | 0.19 | 0.37 | 4,884 | 0.19 | 0.37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Food Distributors | Food Distributors | 4,680 | 0.18 | 0.35 | 4,673 | 0.18 | 0.36 | Food Distributors | 4,496 | 0.17 | 0.34 | 4,673 | 0.18 | 0.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apparel Retail | Apparel Retail | 4,415 | 0.17 | 0.33 | — | — | — | Apparel Retail | 4,404 | 0.17 | 0.33 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Housewares & Specialties | Housewares & Specialties | 3,844 | 0.15 | 0.29 | 2,003 | 0.08 | 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diversified Banks | Diversified Banks | 3,562 | 0.14 | 0.27 | 3,562 | 0.14 | 0.27 | Diversified Banks | 3,520 | 0.13 | 0.26 | 3,562 | 0.14 | 0.27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Technology Distributors | Technology Distributors | 3,148 | 0.12 | 0.24 | 3,178 | 0.12 | 0.24 | Technology Distributors | 3,142 | 0.12 | 0.24 | 3,178 | 0.12 | 0.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Food Retail | 2,498 | 0.10 | 0.19 | 3,750 | 0.15 | 0.29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electronic Components | Electronic Components | 2,104 | 0.08 | 0.16 | 10,127 | 0.40 | 0.77 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction Materials | Construction Materials | 2,227 | 0.09 | 0.17 | 2,350 | 0.09 | 0.18 | Construction Materials | 2,074 | 0.08 | 0.16 | 2,350 | 0.09 | 0.18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electronic Components | 2,135 | 0.08 | 0.16 | 10,127 | 0.40 | 0.77 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Housewares & Specialties | 2,009 | 0.08 | 0.15 | 2,003 | 0.08 | 0.15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialized REITs | Specialized REITs | 1,400 | 0.05 | 0.11 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education Services | Education Services | 1,007 | 0.04 | 0.08 | 1,009 | 0.04 | 0.08 | Education Services | 1,004 | 0.04 | 0.08 | 1,009 | 0.04 | 0.08 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Communications Equipment | Communications Equipment | 871 | 0.03 | 0.07 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | Independent Power Producers & Energy Traders | — | — | — | 23,552 | 0.92 | 1.79 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Printing | Commercial Printing | — | — | — | 20,100 | 0.79 | 1.53 | Commercial Printing | — | — | — | 20,100 | 0.79 | 1.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Managed Health Care | Managed Health Care | — | — | — | 18,840 | 0.74 | 1.44 | Managed Health Care | — | — | — | 18,840 | 0.74 | 1.44 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thrifts & Mortgage Finance | Thrifts & Mortgage Finance | — | — | — | 15,942 | 0.62 | 1.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property & Casualty Insurance | Property & Casualty Insurance | — | — | — | 9,949 | 0.39 | 0.76 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Food Retail | Food Retail | — | — | — | 3,750 | 0.15 | 0.29 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,588,623 | 100.00 | % | 195.36 | % | $ | 2,556,629 | 100.00 | % | 194.74 | % | Total | $ | 2,644,775 | 100.00 | % | 198.80 | % | $ | 2,556,629 | 100.00 | % | 194.74 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Senior secured loans (1) | Senior secured loans (1) | $362,106 | $344,196 | Senior secured loans (1) | $362,052 | $344,196 | ||||||||||||||||||||||
Weighted average interest rate on senior secured loans (2) | Weighted average interest rate on senior secured loans (2) | 5.76% | 5.60% | Weighted average interest rate on senior secured loans (2) | 5.86% | 5.60% | ||||||||||||||||||||||
Number of borrowers in SLF JV I | Number of borrowers in SLF JV I | 61 | 55 | Number of borrowers in SLF JV I | 60 | 55 | ||||||||||||||||||||||
Largest exposure to a single borrower (1) | Largest exposure to a single borrower (1) | $9,813 | $9,875 | Largest exposure to a single borrower (1) | $9,750 | $9,875 | ||||||||||||||||||||||
Total of five largest loan exposures to borrowers (1) | Total of five largest loan exposures to borrowers (1) | $47,882 | $46,984 | Total of five largest loan exposures to borrowers (1) | $47,621 | $46,984 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.84 | % | Diversified Support Services | $ | 9,087 | $ | 9,062 | $ | 9,042 | (4) | ||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | Construction & Engineering | 8,839 | 8,674 | 8,761 | (4) | |||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | Pharmaceuticals | 9,632 | 9,479 | 9,234 | (4) | |||||||||||||||||||||
American Tire Distributors, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | 7.00 | % | Distributors | 4,897 | 4,836 | 4,937 | (4) | |||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | Movies & Entertainment | 7,860 | 7,781 | 7,637 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 3.97 | % | Personal Products | 1,966 | 1,544 | 1,772 | ||||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,569 | 4,579 | (4) | |||||||||||||||||||||
Apptio, Inc. | First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 154 | 150 | 151 | (4)(5) | |||||||||||||||||||||
Total Apptio, Inc. | 4,769 | 4,719 | 4,730 | ||||||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027 | 6.75 | % | Paper Packaging | 4,197 | 4,114 | 4,113 | ||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Revolver, LIBOR+6.00% cash due 12/29/2027 | 6.75 | % | Paper Packaging | 100 | 90 | 90 | (5) | |||||||||||||||||||||
Total ASP-R-PAC Acquisition Co LLC | 4,297 | 4,204 | 4,203 | ||||||||||||||||||||||||||
Astra Acquisition Corp. | First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028 | 5.75 | % | Application Software | 4,900 | 4,732 | 4,822 | (4) | |||||||||||||||||||||
Asurion, LLC | Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029 | 5.35 | % | Property & Casualty Insurance | 1,846 | 1,828 | 1,841 | ||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | Airport Services | 6,386 | 6,273 | 6,048 | (4) | |||||||||||||||||||||
BAART Programs, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | Health Care Services | 5,970 | 5,910 | 5,940 | ||||||||||||||||||||||
BAART Programs, Inc. | First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | Health Care Services | 992 | 958 | 974 | (4)(5) | |||||||||||||||||||||
Total BAART Programs, Inc. | 6,962 | 6,868 | 6,914 | ||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.10 | % | Data Processing & Outsourced Services | 9,650 | 9,638 | 9,602 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+3.75% cash due 10/2/2025 | 3.97 | % | Systems Software | 3,134 | 3,101 | 3,118 | ||||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.10 | % | Oil & Gas Equipment & Services | 7,234 | 7,216 | 7,061 | ||||||||||||||||||||||
BYJU's Alpha, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 11/24/2026 | 6.25 | % | Application Software | 7,500 | 7,388 | 7,609 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
C5 Technology Holdings, LLC | 7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | ||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Centerline Communications, LLC | First Lien Term Loan, LIBOR+5.50% cash due 8/10/2027 | 6.50 | % | Wireless Telecommunication Services | 1,995 | 1,957 | 1,955 | ||||||||||||||||||||||
Centerline Communications, LLC | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 8/10/2023 | 6.50 | % | Wireless Telecommunication Services | 1,915 | 1,881 | 1,872 | (5) | |||||||||||||||||||||
Centerline Communications, LLC | First Lien Revolver, LIBOR+5.50% cash due 8/10/2027 | 6.50 | % | Wireless Telecommunication Services | 400 | 389 | 388 | (5) | |||||||||||||||||||||
Total Centerline Communications, LLC | 4,310 | 4,227 | 4,215 | ||||||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | Oil & Gas Refining & Marketing | 7,092 | 7,021 | 7,101 | (4) | |||||||||||||||||||||
City Football Group Limited | First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028 | 4.00 | % | Movies & Entertainment | 6,500 | 6,468 | 6,476 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+3.50% cash due 12/11/2026 | 4.50 | % | Alternative Carriers | 4,351 | 4,245 | 4,357 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Convergeone Holdings, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.10 | % | IT Consulting & Other Services | $ | 7,430 | $ | 7,223 | $ | 7,293 | (4) | ||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 4.22 | % | Biotechnology | 5,865 | 5,821 | 5,872 | ||||||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.10 | % | Internet Services & Infrastructure | 2,878 | 2,871 | 2,876 | ||||||||||||||||||||||
DirecTV Financing, LLC | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75 | % | Cable & Satellite | 5,865 | 5,806 | 5,878 | (4) | |||||||||||||||||||||
Domtar Corporation | First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028 | 6.25 | % | Paper Products | 2,371 | 2,347 | 2,348 | ||||||||||||||||||||||
Domtar Corporation | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 11/30/2028 | Paper Products | — | (11) | (11) | (5) | |||||||||||||||||||||||
Total Domtar Corporation | 2,371 | 2,336 | 2,337 | ||||||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | 7,388 | 7,314 | 7,422 | ||||||||||||||||||||||
Gibson Brands, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028 | 5.75 | % | Leisure Products | 7,500 | 7,425 | 7,444 | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | Health Care Services | 1,995 | 1,995 | 1,990 | (4) | |||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 5.25 | % | Health Care Services | 2,209 | 2,175 | 2,203 | ||||||||||||||||||||||
Total Global Medical Response, Inc. | 4,204 | 4,170 | 4,193 | ||||||||||||||||||||||||||
Grab Holdings Inc. | First Lien Term Loan, LIBOR+4.50% cash due 1/29/2026 | 5.50 | % | Interactive Media & Services | 2,978 | 2,905 | 2,994 | ||||||||||||||||||||||
Indivior Finance S.À.R.L. | First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026 | 6.00 | % | Pharmaceuticals | 7,463 | 7,326 | 7,419 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, PRIME+4.75% cash due 11/27/2023 | 8.00 | % | Alternative Carriers | 3,568 | 3,552 | 3,569 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+4.75% cash due 7/13/2022 | 5.75 | % | Alternative Carriers | 5,000 | 4,955 | 5,008 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 7/13/2022 | Alternative Carriers | — | (9) | 2 | (5) | |||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 8,568 | 8,498 | 8,579 | ||||||||||||||||||||||||||
INW Manufacturing, LLC | First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.50 | % | Personal Products | 9,813 | 9,549 | 9,616 | (4) | |||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC | First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027 | 6.50 | % | Health Care Services | 7,500 | 7,355 | 7,472 | ||||||||||||||||||||||
Lightbox Intermediate, L.P. | First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 5.22 | % | Real Estate Services | 7,424 | 7,361 | 7,331 | (4) | |||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.86 | % | Application Software | 7,920 | 7,797 | 7,887 | ||||||||||||||||||||||
LTI Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.60 | % | Electronic Components | 7,423 | 7,318 | 7,347 | ||||||||||||||||||||||
Maravai Intermediate Holdings, LLC | First Lien Term Loan, LIBOR+3.75% cash due 10/19/2027 | 4.75 | % | Biotechnology | 3,808 | 3,770 | 3,830 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025 | 8.00 | % | Internet Services & Infrastructure | 4,633 | 4,586 | 4,555 | (4) | |||||||||||||||||||||
Mindbody, Inc. | First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (5) | (8) | (4)(5) | |||||||||||||||||||||||
Total Mindbody, Inc. | 4,633 | 4,581 | 4,547 | ||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | Application Software | 4,009 | 3,975 | 4,006 | (4) | |||||||||||||||||||||
MRI Software LLC | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (5) | (2) | (5) | |||||||||||||||||||||||
MRI Software LLC | First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | — | (4)(5) | |||||||||||||||||||||||
Total MRI Software LLC | 4,009 | 3,967 | 4,004 | ||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025 | 5.75 | % | Electrical Components & Equipment | 6,738 | 6,722 | 6,754 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.10 | % | Application Software | 7,836 | 7,800 | 7,827 | (4) | |||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026 | 7.25 | % | Personal Products | 6,232 | 6,153 | 6,247 | (4) | |||||||||||||||||||||
Olaplex, Inc. | First Lien Revolver, LIBOR+6.25% cash due 1/8/2025 | Personal Products | — | (7) | (3) | (4)(5) | |||||||||||||||||||||||
Total Olaplex, Inc. | 6,232 | 6,146 | 6,244 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 4.21 | % | Diversified Support Services | $ | 9,063 | $ | 9,040 | $ | 8,942 | (4) | ||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.26 | % | Construction & Engineering | 8,740 | 8,586 | 8,652 | (4) | |||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.26 | % | Pharmaceuticals | 9,508 | 9,376 | 8,920 | (4) | |||||||||||||||||||||
American Tire Distributors, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | 7.00 | % | Distributors | 4,897 | 4,836 | 4,866 | (4) | |||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | Movies & Entertainment | 7,840 | 7,762 | 7,637 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 4.76 | % | Personal Products | 1,547 | 1,209 | 1,354 | ||||||||||||||||||||||
Apptio, Inc. | First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 154 | 150 | 151 | (4)(5) | |||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,573 | 4,579 | (4) | |||||||||||||||||||||
Total Apptio, Inc. | 4,769 | 4,723 | 4,730 | ||||||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027 | 6.75 | % | Paper Packaging | 4,197 | 4,117 | 4,126 | ||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Revolver, LIBOR+6.00% cash due 12/29/2027 | Paper Packaging | — | (10) | (8) | (5) | |||||||||||||||||||||||
Total ASP-R-PAC Acquisition Co LLC | 4,197 | 4,107 | 4,118 | ||||||||||||||||||||||||||
Astra Acquisition Corp. | First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028 | 5.75 | % | Application Software | 7,382 | 7,195 | 7,183 | (4) | |||||||||||||||||||||
Asurion, LLC | Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029 | 5.71 | % | Property & Casualty Insurance | 1,846 | 1,828 | 1,807 | ||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | Airport Services | 6,370 | 6,262 | 6,007 | (4) | |||||||||||||||||||||
BAART Programs, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.01 | % | Health Care Services | 6,403 | 6,343 | 6,323 | ||||||||||||||||||||||
BAART Programs, Inc. | First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | Health Care Services | 1,580 | 1,560 | 1,542 | (4)(5) | |||||||||||||||||||||
Total BAART Programs, Inc. | 7,983 | 7,903 | 7,865 | ||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.46 | % | Data Processing & Outsourced Services | 9,625 | 9,614 | 9,464 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+3.75% cash due 10/2/2025 | 4.21 | % | Systems Software | 3,124 | 3,092 | 3,110 | ||||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.45 | % | Oil & Gas Equipment & Services | 7,214 | 7,198 | 7,137 | ||||||||||||||||||||||
BYJU's Alpha, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 11/24/2026 | 6.25 | % | Application Software | 7,481 | 7,373 | 7,418 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
C5 Technology Holdings, LLC | 7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | ||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Centerline Communications, LLC | First Lien Term Loan, LIBOR+5.50% cash due 8/10/2027 | 6.50 | % | Wireless Telecommunication Services | 4,380 | 4,299 | 4,302 | ||||||||||||||||||||||
Centerline Communications, LLC | First Lien Revolver, LIBOR+5.50% cash due 8/10/2027 | Wireless Telecommunication Services | — | (11) | (11) | (5) | |||||||||||||||||||||||
Total Centerline Communications, LLC | 4,380 | 4,288 | 4,291 | ||||||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | Oil & Gas Refining & Marketing | 7,074 | 7,003 | 7,070 | (4) | |||||||||||||||||||||
City Football Group Limited | First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028 | 4.00 | % | Movies & Entertainment | 6,484 | 6,451 | 6,382 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+3.50% cash due 12/11/2026 | 4.50 | % | Alternative Carriers | 4,340 | 4,237 | 4,311 | ||||||||||||||||||||||
Convergeone Holdings, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.46 | % | IT Consulting & Other Services | 7,411 | 7,217 | 7,118 | (4) |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Park Place Technologies, LLC | First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | Internet Services & Infrastructure | $ | 4,963 | $ | 4,796 | $ | 4,964 | (4) | ||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | Application Software | 4,503 | 4,435 | 4,514 | (4) | |||||||||||||||||||||
Pluralsight, LLC | First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00 | % | Application Software | 6,795 | 6,675 | 6,676 | (4) | |||||||||||||||||||||
Pluralsight, LLC | First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | Application Software | — | (7) | (7) | (4)(5) | |||||||||||||||||||||||
Total Pluralsight, LLC | 6,795 | 6,668 | 6,669 | ||||||||||||||||||||||||||
RevSpring, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/11/2025 | 4.47 | % | Commercial Printing | 9,700 | 9,677 | 9,736 | ||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | 2,657 | 2,631 | 2,661 | (4) | |||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024 | 6.23 | % | Footwear | 138 | 138 | 131 | ||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25 | % | Footwear | 8,266 | 8,256 | 7,853 | ||||||||||||||||||||||
Total SHO Holding I Corporation | 8,404 | 8,394 | 7,984 | ||||||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.60 | % | Diversified Support Services | 1,079 | 1,063 | 982 | (4) | |||||||||||||||||||||
Sorenson Communications, LLC | First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026 | 6.25 | % | Communications Equipment | 2,766 | 2,739 | 2,779 | ||||||||||||||||||||||
Spanx, LLC | First Lien Term Loan, LIBOR+5.50% cash due 11/18/2028 | 6.25 | % | Apparel Retail | 9,000 | 8,823 | 8,820 | (4) | |||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | 5,428 | 5,281 | 5,424 | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.97 | % | Application Software | 7,803 | 7,469 | 7,387 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026 | 4.50 | % | Health Care Facilities | 3,403 | 3,391 | 3,406 | ||||||||||||||||||||||
Touchstone Acquisition, Inc. | First Lien Term Loan, LIBOR+6.00% cash due 12/21/2028 | 6.75 | % | Health Care Supplies | 7,322 | 7,176 | 7,176 | (4) | |||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Term Loan, LIBOR+4.75% cash due 12/3/2026 | 5.75 | % | Construction Materials | 3,930 | 3,872 | 3,872 | ||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 12/3/2026 | Construction Materials | — | (11) | (11) | (5) | |||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Revolver, LIBOR+4.75% cash due 12/3/2026 | 5.75 | % | Construction Materials | 24 | 16 | 15 | (5) | |||||||||||||||||||||
Total Trench Plate Rental, Co. | 3,954 | 3,877 | 3,876 | ||||||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025 | 6.00 | % | Application Software | 6,419 | 6,324 | 6,427 | (4) | |||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.00% cash due 8/27/2025 | 4.10 | % | Health Care Technology | 1,078 | 1,065 | 1,079 | ||||||||||||||||||||||
Waystar Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.10 | % | Health Care Technology | 5,895 | 5,866 | 5,897 | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,879 | 7,621 | 7,916 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,966 | 5,883 | (4) | |||||||||||||||||||||
Total Portfolio Investments | $ | 362,106 | $ | 363,821 | $ | 363,909 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 5.01 | % | Biotechnology | $ | 5,850 | $ | 5,806 | $ | 5,839 | |||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.46 | % | Internet Services & Infrastructure | 2,870 | 2,863 | 2,854 | ||||||||||||||||||||||
DirecTV Financing, LLC | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75 | % | Cable & Satellite | 5,730 | 5,673 | 5,731 | (4) | |||||||||||||||||||||
Domtar Corporation | First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028 | 6.25 | % | Paper Products | 3,222 | 3,194 | 3,198 | ||||||||||||||||||||||
Domtar Corporation | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 11/30/2028 | Paper Products | — | (13) | (11) | (5) | |||||||||||||||||||||||
Total Domtar Corporation | 3,222 | 3,181 | 3,187 | ||||||||||||||||||||||||||
Eagle Parent Corp. | First Lien Term Loan, SOFR+4.25% cash due 4/1/2029 | 4.75 | % | Industrial Machinery | 4,500 | 4,388 | 4,472 | ||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | 7,369 | 7,295 | 7,353 | ||||||||||||||||||||||
Gibson Brands, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028 | 5.75 | % | Leisure Products | 7,481 | 7,406 | 7,360 | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | Health Care Services | 1,990 | 1,990 | 1,981 | (4) | |||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/2/2025 | 5.25 | % | Health Care Services | 2,203 | 2,172 | 2,192 | ||||||||||||||||||||||
Total Global Medical Response, Inc. | 4,193 | 4,162 | 4,173 | ||||||||||||||||||||||||||
Grab Holdings Inc. | First Lien Term Loan, LIBOR+4.50% cash due 1/29/2026 | 5.50 | % | Interactive Media & Services | 2,970 | 2,902 | 2,911 | ||||||||||||||||||||||
Indivior Finance S.À.R.L. | First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026 | 6.26 | % | Pharmaceuticals | 7,444 | 7,315 | 7,397 | ||||||||||||||||||||||
INW Manufacturing, LLC | First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.76 | % | Personal Products | 9,750 | 9,500 | 9,555 | (4) | |||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC | First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027 | 6.50 | % | Health Care Services | 7,481 | 7,342 | 7,406 | ||||||||||||||||||||||
Lightbox Intermediate, L.P. | First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 6.01 | % | Real Estate Services | 7,405 | 7,346 | 7,294 | (4) | |||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 5.22 | % | Application Software | 7,900 | 7,782 | 7,775 | ||||||||||||||||||||||
LTI Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.96 | % | Electronic Components | 7,404 | 7,306 | 7,250 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025 | 8.38 | % | Internet Services & Infrastructure | 4,651 | 4,608 | 4,581 | (4) | |||||||||||||||||||||
Mindbody, Inc. | First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (5) | (7) | (4)(5) | |||||||||||||||||||||||
Total Mindbody, Inc. | 4,651 | 4,603 | 4,574 | ||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.51 | % | Application Software | 5,733 | 5,699 | 5,714 | (4) | |||||||||||||||||||||
MRI Software LLC | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | (1) | (5) | |||||||||||||||||||||||
MRI Software LLC | First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | (1) | (4)(5) | |||||||||||||||||||||||
Total MRI Software LLC | 5,733 | 5,693 | 5,712 | ||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 5.51 | % | Electrical Components & Equipment | 6,720 | 6,706 | 6,686 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.46 | % | Application Software | 7,816 | 7,781 | 7,706 | (4) | |||||||||||||||||||||
Park Place Technologies, LLC | First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | Internet Services & Infrastructure | 4,950 | 4,791 | 4,936 | (4) | |||||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.26 | % | Application Software | 4,503 | 4,435 | 4,480 | (4) | |||||||||||||||||||||
Pluralsight, LLC | First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00 | % | Application Software | 6,796 | 6,680 | 6,660 | (4) | |||||||||||||||||||||
Pluralsight, LLC | First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | Application Software | — | (7) | (8) | (4)(5) | |||||||||||||||||||||||
Total Pluralsight, LLC | 6,796 | 6,673 | 6,652 | ||||||||||||||||||||||||||
RevSpring, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 10/11/2025 | 5.26 | % | Commercial Printing | 9,675 | 9,653 | 9,557 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | $ | 2,657 | $ | 2,631 | $ | 2,561 | (4) | ||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024 | 6.23 | % | Footwear | 138 | 138 | 129 | ||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25 | % | Footwear | 8,245 | 8,235 | 7,709 | ||||||||||||||||||||||
Total SHO Holding I Corporation | 8,383 | 8,373 | 7,838 | ||||||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.96 | % | Diversified Support Services | 1,072 | 1,056 | 993 | (4) | |||||||||||||||||||||
Sorenson Communications, LLC | First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026 | 6.51 | % | Communications Equipment | 2,704 | 2,677 | 2,704 | ||||||||||||||||||||||
Spanx, LLC | First Lien Term Loan, LIBOR+5.50% cash due 11/20/2028 | 6.25 | % | Apparel Retail | 8,978 | 8,807 | 8,798 | (4) | |||||||||||||||||||||
SPX Flow, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/18/2029 | 5.00 | % | Industrial Machinery | 7,500 | 7,163 | 7,316 | ||||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | 5,414 | 5,273 | 5,371 | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 4.76 | % | Application Software | 7,783 | 7,472 | 7,348 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026 | 4.50 | % | Health Care Facilities | 3,394 | 3,382 | 3,373 | ||||||||||||||||||||||
Touchstone Acquisition, Inc. | First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028 | 7.01 | % | Health Care Supplies | 7,322 | 7,180 | 7,176 | (4) | |||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Term Loan, LIBOR+4.75% cash due 12/3/2026 | 5.76 | % | Construction Materials | 3,921 | 3,862 | 3,861 | ||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 12/3/2026 | Construction Materials | — | (11) | — | (5) | |||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Revolver, LIBOR+4.75% cash due 12/3/2026 | 5.76 | % | Construction Materials | 24 | 16 | 15 | (5) | |||||||||||||||||||||
Total Trench Plate Rental, Co. | 3,945 | 3,867 | 3,876 | ||||||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025 | 6.00 | % | Application Software | 6,403 | 6,314 | 6,009 | (4) | |||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.00% cash due 8/27/2025 | 4.46 | % | Health Care Technology | 1,075 | 1,063 | 1,074 | ||||||||||||||||||||||
Waystar Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.46 | % | Health Care Technology | 5,880 | 5,851 | 5,873 | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,859 | 7,613 | 7,859 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025 | 4.75 | % | Aerospace & Defense | 1,995 | 1,910 | 1,895 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,968 | 5,875 | (4) | |||||||||||||||||||||
Total Portfolio Investments | $ | 362,052 | $ | 363,696 | $ | 360,864 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Access CIG, LLC | First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025 | 3.83 | % | Diversified Support Services | $ | 9,111 | $ | 9,084 | $ | 9,078 | (4) | ||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25 | % | Construction & Engineering | 7,732 | 7,566 | 7,644 | (4) | |||||||||||||||||||||
Altice France S.A. | First Lien Term Loan, LIBOR+4.00% cash due 8/14/2026 | 4.12 | % | Integrated Telecommunication Services | 2,596 | 2,468 | 2,591 | ||||||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25 | % | Pharmaceuticals | 9,755 | 9,580 | 9,443 | (4) | |||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00 | % | Movies & Entertainment | 7,880 | 7,801 | 7,680 | (4) | |||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 3.88 | % | Personal Products | 2,799 | 2,211 | 2,378 | ||||||||||||||||||||||
Apptio, Inc. | First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 4,615 | 4,565 | 4,544 | (4) | |||||||||||||||||||||
Apptio, Inc. | First Lien Revolver, LIBOR+7.25% cash due 1/10/2025 | 8.25 | % | Application Software | 154 | 150 | 148 | (4)(5) | |||||||||||||||||||||
Total Apptio, Inc. | 4,769 | 4,715 | 4,692 | ||||||||||||||||||||||||||
Asurion, LLC | Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029 | 5.33 | % | Property & Casualty Insurance | 6,000 | 5,940 | 5,980 | ||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00 | % | Airport Services | 6,403 | 6,283 | 6,025 | (4) | |||||||||||||||||||||
BAART Programs, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | Health Care Services | 5,985 | 5,925 | 5,970 | ||||||||||||||||||||||
BAART Programs, Inc. | First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00 | % | Health Care Services | 450 | 436 | 446 | (5) | |||||||||||||||||||||
Total BAART Programs, Inc. | 6,435 | 6,361 | 6,416 | ||||||||||||||||||||||||||
Blackhawk Network Holdings, Inc. | First Lien Term Loan, LIBOR+3.00% cash due 6/15/2025 | 3.08 | % | Data Processing & Outsourced Services | 9,675 | 9,662 | 9,615 | ||||||||||||||||||||||
Boxer Parent Company Inc. | First Lien Term Loan, LIBOR+3.75% cash due 10/2/2025 | 3.88 | % | Systems Software | 6,643 | 6,570 | 6,615 | ||||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.08 | % | Oil & Gas Equipment & Services | 7,253 | 7,234 | 7,158 | ||||||||||||||||||||||
C5 Technology Holdings, LLC | 171 Common Units | Data Processing & Outsourced Services | — | — | (4) | ||||||||||||||||||||||||
C5 Technology Holdings, LLC | 7,193,539.63 Preferred Units | Data Processing & Outsourced Services | 7,194 | 5,683 | (4) | ||||||||||||||||||||||||
Total C5 Technology Holdings, LLC | 7,194 | 5,683 | |||||||||||||||||||||||||||
Centerline Communications, LLC | First Lien Term Loan, LIBOR+5.50% cash due 8/10/2027 | 6.50 | % | Wireless Telecommunication Services | 2,000 | 1,961 | 1,960 | ||||||||||||||||||||||
Centerline Communications, LLC | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 8/10/2023 | 6.50 | % | Wireless Telecommunication Services | 1,920 | 1,890 | 1,889 | (5) | |||||||||||||||||||||
Centerline Communications, LLC | First Lien Revolver, LIBOR+5.50% cash due 8/10/2027 | Wireless Telecommunication Services | — | (12) | (12) | (5) | |||||||||||||||||||||||
Total Centerline Communications, LLC | 3,920 | 3,839 | 3,837 | ||||||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25 | % | Oil & Gas Refining & Marketing | 7,111 | 7,040 | 7,134 | (4) | |||||||||||||||||||||
City Football Group Limited | First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028 | 4.00 | % | Movies & Entertainment | 6,500 | 6,468 | 6,492 | ||||||||||||||||||||||
Connect U.S. Finco LLC | First Lien Term Loan, LIBOR+3.50% cash due 12/11/2026 | 4.50 | % | Alternative Carriers | 7,362 | 7,204 | 7,376 | ||||||||||||||||||||||
Convergeone Holdings, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026 | 5.08 | % | IT Consulting & Other Services | 7,449 | 7,229 | 7,427 | (4) | |||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 4.13 | % | Biotechnology | 5,880 | 5,836 | 5,884 | ||||||||||||||||||||||
Dcert Buyer, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/16/2026 | 4.08 | % | Internet Services & Infrastructure | 5,885 | 5,870 | 5,893 | ||||||||||||||||||||||
DirecTV Financing, LLC | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75 | % | Cable & Satellite | 6,000 | 5,940 | 6,011 | (4) | |||||||||||||||||||||
Enviva Holdings, LP | First Lien Term Loan, LIBOR+5.50% cash due 2/17/2026 | 6.50 | % | Forest Products | 5,878 | 5,819 | 5,893 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50 | % | Application Software | $ | 7,406 | $ | 7,332 | $ | 7,451 | |||||||||||||||||||
GI Chill Acquisition LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/6/2025 | 3.90 | % | Managed Health Care | 3,721 | 3,737 | 3,712 | (4) | |||||||||||||||||||||
GI Chill Acquisition LLC | Second Lien Term Loan, LIBOR+7.50% cash due 8/6/2026 | 7.63 | % | Managed Health Care | 3,750 | 3,674 | 3,731 | (4) | |||||||||||||||||||||
Total GI Chill Acquisition LLC | 7,471 | 7,411 | 7,443 | ||||||||||||||||||||||||||
Gibson Brands, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028 | 5.75 | % | Leisure Products | 7,500 | 7,425 | 7,463 | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 10/2/2025 | 5.75 | % | Health Care Services | 2,214 | 2,178 | 2,226 | ||||||||||||||||||||||
Global Medical Response, Inc. | First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025 | 5.25 | % | Health Care Services | 1,995 | 1,995 | 2,004 | (4) | |||||||||||||||||||||
Total Global Medical Response, Inc. | 4,209 | 4,173 | 4,230 | ||||||||||||||||||||||||||
Grab Holdings Inc. | First Lien Term Loan, LIBOR+4.50% cash due 1/29/2026 | 5.50 | % | Interactive Media & Services | 2,985 | 2,907 | 3,025 | ||||||||||||||||||||||
Indivior Finance S.À.R.L. | First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026 | 6.00 | % | Pharmaceuticals | 7,481 | 7,336 | 7,456 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, PRIME+4.75% cash due 11/27/2023 | 8.00 | % | Alternative Carriers | 3,568 | 3,550 | 3,622 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+4.75% cash due 7/13/2022 | 5.75 | % | Alternative Carriers | 5,000 | 4,935 | 5,044 | ||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 7/13/2022 | Alternative Carriers | — | (13) | 9 | (5) | |||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 8,568 | 8,472 | 8,675 | ||||||||||||||||||||||||||
INW Manufacturing, LLC | First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.50 | % | Personal Products | 9,875 | 9,597 | 9,678 | (4) | |||||||||||||||||||||
Lightbox Intermediate, L.P. | First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026 | 5.13 | % | Real Estate Services | 7,443 | 7,377 | 7,405 | (4) | |||||||||||||||||||||
LogMeIn, Inc. | First Lien Term Loan, LIBOR+4.75% cash due 8/31/2027 | 4.83 | % | Application Software | 7,940 | 7,812 | 7,946 | (4) | |||||||||||||||||||||
LTI Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.58 | % | Electronic Components | 7,442 | 7,329 | 7,354 | ||||||||||||||||||||||
Maravai Intermediate Holdings, LLC | First Lien Term Loan, LIBOR+3.75% cash due 10/19/2027 | 4.75 | % | Biotechnology | 6,819 | 6,751 | 6,846 | ||||||||||||||||||||||
Mindbody, Inc. | First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025 | 8.00 | % | Internet Services & Infrastructure | 4,616 | 4,565 | 4,528 | (4) | |||||||||||||||||||||
Mindbody, Inc. | First Lien Revolver, LIBOR+8.00% cash due 2/14/2025 | Internet Services & Infrastructure | — | (6) | (9) | (4)(5) | |||||||||||||||||||||||
Total Mindbody, Inc. | 4,616 | 4,559 | 4,519 | ||||||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50 | % | Application Software | 3,877 | 3,843 | 3,875 | (4) | |||||||||||||||||||||
MRI Software LLC | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (6) | (1) | (4)(5) | |||||||||||||||||||||||
MRI Software LLC | First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (3) | — | (4)(5) | |||||||||||||||||||||||
Total MRI Software LLC | 3,877 | 3,834 | 3,874 | ||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 5.50 | % | Electrical Components & Equipment | 6,755 | 6,738 | 6,738 | ||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.08 | % | Application Software | 7,852 | 7,816 | 7,842 | (4) | |||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026 | 7.25 | % | Personal Products | 6,273 | 6,189 | 6,226 | (4) | |||||||||||||||||||||
Olaplex, Inc. | First Lien Revolver, LIBOR+6.25% cash due 1/8/2025 | Personal Products | — | (7) | (8) | (4)(5) | |||||||||||||||||||||||
Total Olaplex, Inc. | 6,273 | 6,182 | 6,218 | ||||||||||||||||||||||||||
Park Place Technologies, LLC | First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027 | 6.00 | % | Internet Services & Infrastructure | 4,975 | 4,801 | 4,981 | (4) | |||||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00 | % | Application Software | 4,503 | 4,435 | 4,514 | (4) | |||||||||||||||||||||
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00 | % | Application Software | $ | 6,796 | $ | 6,669 | $ | 6,667 | (4) | ||||||||||||||||||
Pluralsight, LLC | First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | Application Software | — | (8) | (8) | (4)(5) | |||||||||||||||||||||||
Total Pluralsight, LLC | 6,796 | 6,661 | 6,659 | ||||||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50 | % | Metal & Glass Containers | 2,728 | 2,700 | 2,738 | (4) | |||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25 | % | Footwear | 8,288 | 8,277 | 7,874 | ||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024 | 6.23 | % | Footwear | 138 | 138 | 131 | ||||||||||||||||||||||
Total SHO Holding I Corporation | 8,426 | 8,415 | 8,005 | ||||||||||||||||||||||||||
Sirva Worldwide, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025 | 5.58 | % | Diversified Support Services | 1,087 | 1,071 | 1,027 | (4) | |||||||||||||||||||||
Sorenson Communications, LLC | First Lien Term Loan, LIBOR+5.50% cash due 3/17/2026 | 6.25 | % | Communications Equipment | 2,854 | 2,825 | 2,877 | ||||||||||||||||||||||
Star US Bidco LLC | First Lien Term Loan, LIBOR+4.25% cash due 3/17/2027 | 5.25 | % | Industrial Machinery | 8,255 | 8,075 | 8,289 | (4) | |||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.88 | % | Application Software | 7,823 | 7,465 | 7,294 | (4) | |||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026 | 4.50 | % | Health Care Facilities | 4,911 | 4,895 | 4,925 | ||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Term Loan, LIBOR+4.75% cash due 12/3/2026 | 5.75 | % | Construction Materials | 3,942 | 3,882 | 3,881 | ||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 12/3/2026 | Construction Materials | — | (11) | (12) | (5) | |||||||||||||||||||||||
Trench Plate Rental, Co. | First Lien Revolver, LIBOR+4.75% cash due 12/3/2026 | 5.75 | % | Construction Materials | 24 | 15 | 15 | (5) | |||||||||||||||||||||
Total Trench Plate Rental, Co. | 3,966 | 3,886 | 3,884 | ||||||||||||||||||||||||||
Veritas US Inc. | First Lien Term Loan, LIBOR+5.00% cash due 9/1/2025 | 6.00 | % | Application Software | 6,435 | 6,333 | 6,473 | (4) | |||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.00% cash due 8/27/2025 | 4.08 | % | Health Care Technology | 4,080 | 4,052 | 4,091 | ||||||||||||||||||||||
Waystar Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.08 | % | Health Care Technology | 5,910 | 5,880 | 5,921 | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25 | % | Integrated Telecommunication Services | 7,899 | 7,629 | 7,948 | (4) | |||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75 | % | Aerospace & Defense | 6,000 | 5,964 | 5,931 | (4) | |||||||||||||||||||||
Total Portfolio Investments | $ | 344,196 | $ | 346,052 | $ | 346,665 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Selected Balance Sheet Information: | Selected Balance Sheet Information: | Selected Balance Sheet Information: | ||||||||||||||||||||||||||
Investments at fair value (cost December 31, 2021: $363,821; cost September 30, 2021: $346,052) | $ | 363,909 | $ | 346,665 | ||||||||||||||||||||||||
Investments at fair value (cost March 31, 2022: $363,696; cost September 30, 2021: $346,052) | Investments at fair value (cost March 31, 2022: $363,696; cost September 30, 2021: $346,052) | $ | 360,864 | $ | 346,665 | |||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 20,191 | 23,446 | Cash and cash equivalents | 19,544 | 23,446 | ||||||||||||||||||||||
Restricted cash | Restricted cash | 4,328 | 4,517 | Restricted cash | 4,384 | 4,517 | ||||||||||||||||||||||
Other assets | Other assets | 4,919 | 4,529 | Other assets | 5,095 | 4,529 | ||||||||||||||||||||||
Total assets | Total assets | $ | 393,347 | $ | 379,157 | Total assets | $ | 389,887 | $ | 379,157 | ||||||||||||||||||
Senior credit facility payable | Senior credit facility payable | $ | 220,000 | $ | 215,620 | Senior credit facility payable | $ | 220,000 | $ | 215,620 | ||||||||||||||||||
SLF JV I Notes payable at fair value (proceeds December 31, 2021: $110,000; proceeds September 30, 2021: $110,000) | 110,000 | 110,000 | ||||||||||||||||||||||||||
SLF JV I Notes payable at fair value (proceeds March 31, 2022: $110,000; proceeds September 30, 2021: $110,000) | SLF JV I Notes payable at fair value (proceeds March 31, 2022: $110,000; proceeds September 30, 2021: $110,000) | 110,000 | 110,000 | |||||||||||||||||||||||||
Other liabilities | Other liabilities | 19,392 | 10,507 | Other liabilities | 17,909 | 10,507 | ||||||||||||||||||||||
Total liabilities | Total liabilities | $ | 349,392 | $ | 336,127 | Total liabilities | $ | 347,909 | $ | 336,127 | ||||||||||||||||||
Members' equity | Members' equity | 43,955 | 43,030 | Members' equity | 41,978 | 43,030 | ||||||||||||||||||||||
Total liabilities and members' equity | Total liabilities and members' equity | $ | 393,347 | $ | 379,157 | Total liabilities and members' equity | $ | 389,887 | $ | 379,157 |
Three months ended December 31, 2021 | Three months ended December 31, 2020 | Three months ended March 31, 2022 | Three months ended March 31, 2021 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | |||||||||||||||||||||||||||||||||||
Selected Statements of Operations Information: | Selected Statements of Operations Information: | Selected Statements of Operations Information: | ||||||||||||||||||||||||||||||||||||||
Interest income | Interest income | $ | 5,423 | $ | 4,475 | Interest income | $ | 5,445 | $ | 4,813 | $ | 10,868 | $ | 9,288 | ||||||||||||||||||||||||||
Other income | Other income | 11 | 54 | Other income | 62 | 473 | 73 | 527 | ||||||||||||||||||||||||||||||||
Total investment income | Total investment income | 5,434 | 4,529 | Total investment income | 5,507 | 5,286 | 10,941 | 9,815 | ||||||||||||||||||||||||||||||||
Senior credit facility interest expense | Senior credit facility interest expense | 1,514 | 1,574 | Senior credit facility interest expense | 1,552 | 1,218 | 3,066 | 2,793 | ||||||||||||||||||||||||||||||||
SLF JV I Notes interest expense | SLF JV I Notes interest expense | 2,249 | 2,007 | SLF JV I Notes interest expense | 2,200 | 1,964 | 4,449 | 3,970 | ||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 79 | 62 | Other expenses | 42 | 75 | 121 | 137 | ||||||||||||||||||||||||||||||||
Total expenses (1) | Total expenses (1) | 3,842 | 3,643 | Total expenses (1) | 3,794 | 3,257 | 7,636 | 6,900 | ||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | Net unrealized appreciation (depreciation) | (525) | 8,486 | Net unrealized appreciation (depreciation) | (2,920) | 3,441 | (3,445) | 11,927 | ||||||||||||||||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | 374 | (144) | Net realized gains (losses) | 29 | 145 | 403 | 1 | ||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | $ | 1,441 | $ | 9,228 | Net income (loss) | $ | (1,178) | $ | 5,615 | $ | 263 | $ | 14,843 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||
Senior secured loans (1) | Senior secured loans (1) | $140,078 | $126,512 | Senior secured loans (1) | $141,187 | $126,512 | ||||||||||||||||
Weighted average current interest rate on senior secured loans (2) | Weighted average current interest rate on senior secured loans (2) | 6.05% | 5.86% | Weighted average current interest rate on senior secured loans (2) | 6.05% | 5.86% | ||||||||||||||||
Number of borrowers in the Glick JV | Number of borrowers in the Glick JV | 44 | 37 | Number of borrowers in the Glick JV | 44 | 37 | ||||||||||||||||
Largest loan exposure to a single borrower (1) | Largest loan exposure to a single borrower (1) | $6,820 | $6,907 | Largest loan exposure to a single borrower (1) | $6,733 | $6,907 | ||||||||||||||||
Total of five largest loan exposures to borrowers (1) | Total of five largest loan exposures to borrowers (1) | $28,283 | $28,324 | Total of five largest loan exposures to borrowers (1) | $28,141 | $28,324 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25% | Construction & Engineering | $ | 4,822 | $ | 4,736 | $ | 4,779 | (4) | |||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25% | Pharmaceuticals | 6,820 | 6,709 | 6,539 | (4) | ||||||||||||||||||||||
American Tire Distributors, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | 7.00% | Distributors | 2,904 | 2,868 | 2,928 | (4) | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00% | Movies & Entertainment | 2,948 | 2,918 | 2,864 | (4) | ||||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 3.97% | Personal Products | 1,171 | 913 | 1,056 | |||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027 | 6.75% | Paper Packaging | 1,743 | 1,708 | 1,708 | |||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Revolver, LIBOR+6.00% cash due 12/29/2027 | 6.75% | Paper Packaging | 41 | 37 | 37 | (5) | ||||||||||||||||||||||
Total ASP-R-PAC Acquisition Co LLC | 1,784 | 1,745 | 1,745 | ||||||||||||||||||||||||||
Astra Acquisition Corp. | First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028 | 5.75% | Application Software | 2,000 | 1,931 | 1,968 | (4) | ||||||||||||||||||||||
Asurion, LLC | Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029 | 5.35% | Property & Casualty Insurance | 923 | 914 | 920 | |||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00% | Airport Services | 3,684 | 3,619 | 3,489 | (4) | ||||||||||||||||||||||
BAART Programs, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00% | Health Care Services | 3,184 | 3,152 | 3,168 | |||||||||||||||||||||||
BAART Programs, Inc. | First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00% | Health Care Services | 465 | 449 | 457 | (4)(5) | ||||||||||||||||||||||
Total BAART Programs, Inc. | 3,649 | 3,601 | 3,625 | ||||||||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.10% | Oil & Gas Equipment & Services | 4,822 | 4,811 | 4,707 | |||||||||||||||||||||||
BYJU's Alpha, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 11/24/2026 | 6.25% | Application Software | 4,000 | 3,940 | 4,058 | |||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25% | Oil & Gas Refining & Marketing | 3,546 | 3,511 | 3,551 | (4) | ||||||||||||||||||||||
City Football Group Limited | First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028 | 4.00% | Movies & Entertainment | 2,500 | 2,488 | 2,491 | |||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 4.22% | Biotechnology | 2,893 | 2,871 | 2,896 | |||||||||||||||||||||||
DirecTV Financing, LLC | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75% | Cable & Satellite | 2,933 | 2,903 | 2,939 | (4) | ||||||||||||||||||||||
Domtar Corporation | First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028 | 6.25% | Paper Products | 2,032 | 2,012 | 2,012 | |||||||||||||||||||||||
Domtar Corporation | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 11/30/2028 | Paper Products | — | (10) | (9) | (5) | |||||||||||||||||||||||
Total Domtar Corporation | 2,032 | 2,002 | 2,003 | ||||||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50% | Application Software | 2,463 | 2,438 | 2,474 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Gibson Brands, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028 | 5.75% | Leisure Products | $ | 4,000 | $ | 3,960 | $ | 3,970 | ||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25% | Education Services | 431 | 421 | 432 | (4) | ||||||||||||||||||||||
Indivior Finance S.À.R.L. | First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026 | 6.00% | Pharmaceuticals | 3,980 | 3,907 | 3,957 | |||||||||||||||||||||||
Integro Parent, Inc. | First Lien Term Loan, LIBOR+5.75% cash due 10/31/2022 | 6.75% | Insurance Brokers | 3,217 | 3,213 | 3,081 | |||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+4.75% cash due 7/13/2022 | 5.75% | Alternative Carriers | 4,167 | 4,130 | 4,173 | |||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 7/13/2022 | Alternative Carriers | — | (7) | 1 | (5) | |||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 4,167 | 4,123 | 4,174 | ||||||||||||||||||||||||||
INW Manufacturing, LLC | First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.50% | Personal Products | 2,453 | 2,387 | 2,404 | (4) | ||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC | First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027 | 6.50% | Health Care Services | 4,000 | 3,922 | 3,985 | |||||||||||||||||||||||
Lightstone Holdco LLC | First Lien Term Loan, LIBOR+3.75% cash due 1/30/2024 | 4.75% | Electric Utilities | 3,439 | 3,150 | 2,922 | |||||||||||||||||||||||
LTI Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.60% | Electronic Components | 1,369 | 1,159 | 1,355 | |||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50% | Application Software | 1,659 | 1,646 | 1,658 | (4) | ||||||||||||||||||||||
MRI Software LLC | First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | — | (4)(5) | |||||||||||||||||||||||
Total MRI Software LLC | 1,659 | 1,645 | 1,658 | ||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.75% cash due 3/31/2025 | 5.75% | Electrical Components & Equipment | 5,294 | 5,281 | 5,307 | |||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.10% | Application Software | 3,918 | 3,900 | 3,913 | (4) | ||||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026 | 7.25% | Personal Products | 3,479 | 3,434 | 3,488 | (4) | ||||||||||||||||||||||
Olaplex, Inc. | First Lien Revolver, LIBOR+6.25% cash due 1/8/2025 | Personal Products | — | (4) | (2) | (4)(5) | |||||||||||||||||||||||
Total Olaplex, Inc. | 3,479 | 3,430 | 3,486 | ||||||||||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00% | Application Software | 2,842 | 2,799 | 2,849 | (4) | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00% | Application Software | 4,465 | 4,386 | 4,387 | (4) | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | Application Software | — | (5) | (6) | (4)(5) | |||||||||||||||||||||||
Total Pluralsight, LLC | 4,465 | 4,381 | 4,381 | ||||||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50% | Metal & Glass Containers | 1,772 | 1,754 | 1,774 | (4) | ||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25% | Footwear | 6,143 | 6,125 | 5,835 | |||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024 | 6.23% | Footwear | 102 | 102 | 97 | |||||||||||||||||||||||
Total SHO Holding I Corporation | 6,245 | 6,227 | 5,932 | ||||||||||||||||||||||||||
Spanx, LLC | First Lien Term Loan, LIBOR+5.50% cash due 11/18/2028 | 6.25% | Apparel Retail | 5,000 | 4,902 | 4,900 | (4) | ||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.97% | Application Software | 2,842 | 2,705 | 2,690 | (4) | ||||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026 | 4.50% | Health Care Facilities | 3,403 | 3,391 | 3,406 | |||||||||||||||||||||||
Touchstone Acquisition, Inc. | First Lien Term Loan, LIBOR+6.00% cash due 12/21/2028 | 6.75% | Health Care Supplies | 3,039 | 2,978 | 2,978 | (4) | ||||||||||||||||||||||
Tribe Buyer LLC | First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024 | 5.50% | Human Resource & Employment Services | 1,595 | 1,594 | 1,361 | |||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.00% cash due 8/27/2025 | 4.10% | Health Care Technology | 1,716 | 1,705 | 1,718 | |||||||||||||||||||||||
Waystar Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.10% | Health Care Technology | 1,935 | 1,925 | 1,936 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.26% | Construction & Engineering | $ | 4,768 | $ | 4,687 | $ | 4,720 | (4) | |||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.26% | Pharmaceuticals | 6,733 | 6,636 | 6,316 | (4) | ||||||||||||||||||||||
American Tire Distributors, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028 | 7.00% | Distributors | 2,904 | 2,868 | 2,886 | (4) | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00% | Movies & Entertainment | 2,940 | 2,911 | 2,864 | (4) | ||||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 4.76% | Personal Products | 922 | 716 | 807 | |||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Term Loan, LIBOR+6.00% cash due 12/29/2027 | 6.75% | Paper Packaging | 1,743 | 1,709 | 1,713 | |||||||||||||||||||||||
ASP-R-PAC Acquisition Co LLC | First Lien Revolver, LIBOR+6.00% cash due 12/29/2027 | Paper Packaging | — | (4) | (4) | (5) | |||||||||||||||||||||||
Total ASP-R-PAC Acquisition Co LLC | 1,743 | 1,705 | 1,709 | ||||||||||||||||||||||||||
Astra Acquisition Corp. | First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028 | 5.75% | Application Software | 3,491 | 3,410 | 3,397 | (4) | ||||||||||||||||||||||
Asurion, LLC | Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029 | 5.71% | Property & Casualty Insurance | 923 | 914 | 904 | |||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00% | Airport Services | 3,675 | 3,613 | 3,465 | (4) | ||||||||||||||||||||||
BAART Programs, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.01% | Health Care Services | 3,415 | 3,383 | 3,372 | |||||||||||||||||||||||
BAART Programs, Inc. | First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00% | Health Care Services | 721 | 713 | 704 | (4)(5) | ||||||||||||||||||||||
Total BAART Programs, Inc. | 4,136 | 4,096 | 4,076 | ||||||||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.45% | Oil & Gas Equipment & Services | 4,809 | 4,799 | 4,758 | |||||||||||||||||||||||
BYJU's Alpha, Inc. | First Lien Term Loan, LIBOR+5.50% cash due 11/24/2026 | 6.25% | Application Software | 3,990 | 3,932 | 3,956 | |||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25% | Oil & Gas Refining & Marketing | 3,537 | 3,502 | 3,535 | (4) | ||||||||||||||||||||||
City Football Group Limited | First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028 | 4.00% | Movies & Entertainment | 2,494 | 2,481 | 2,455 | |||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 5.01% | Biotechnology | 2,885 | 2,864 | 2,880 | |||||||||||||||||||||||
DirecTV Financing, LLC | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75% | Cable & Satellite | 2,865 | 2,836 | 2,865 | (4) |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25% | Integrated Telecommunication Services | $ | 4,924 | $ | 4,763 | $ | 4,948 | (4) | |||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75% | Aerospace & Defense | 3,000 | 2,983 | 2,942 | (4) | ||||||||||||||||||||||
Total Portfolio Investments | $ | 140,078 | $ | 137,523 | $ | 137,491 | |||||||||||||||||||||||
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Domtar Corporation | First Lien Term Loan, LIBOR+5.50% cash due 11/30/2028 | 6.25% | Paper Products | $ | 2,027 | $ | 2,007 | $ | 2,012 | ||||||||||||||||||||
Domtar Corporation | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 11/30/2028 | Paper Products | — | (10) | (7) | (5) | |||||||||||||||||||||||
Total Domtar Corporation | 2,027 | 1,997 | 2,005 | ||||||||||||||||||||||||||
Eagle Parent Corp. | First Lien Term Loan, SOFR+4.25% cash due 4/1/2029 | 4.75% | Industrial Machinery | 2,500 | 2,438 | 2,484 | |||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50% | Application Software | 2,456 | 2,432 | 2,451 | |||||||||||||||||||||||
Gibson Brands, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028 | 5.75% | Leisure Products | 3,990 | 3,950 | 3,925 | |||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25% | Education Services | 431 | 422 | 430 | (4) | ||||||||||||||||||||||
Indivior Finance S.À.R.L. | First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026 | 6.26% | Pharmaceuticals | 3,970 | 3,901 | 3,945 | |||||||||||||||||||||||
Integro Parent, Inc. | First Lien Term Loan, LIBOR+5.75% cash due 10/31/2022 | 6.75% | Insurance Brokers | 3,217 | 3,216 | 3,043 | |||||||||||||||||||||||
INW Manufacturing, LLC | First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.76% | Personal Products | 2,438 | 2,375 | 2,389 | (4) | ||||||||||||||||||||||
LaserAway Intermediate Holdings II, LLC | First Lien Term Loan, LIBOR+5.75% cash due 10/14/2027 | 6.50% | Health Care Services | 3,990 | 3,916 | 3,950 | |||||||||||||||||||||||
Lightstone Holdco LLC | First Lien Term Loan, LIBOR+3.75% cash due 1/30/2024 | 4.75% | Electric Utilities | 3,439 | 3,184 | 3,129 | |||||||||||||||||||||||
LTI Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.96% | Electronic Components | 1,365 | 1,169 | 1,337 | |||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.51% | Application Software | 1,655 | 1,641 | 1,649 | (4) | ||||||||||||||||||||||
MRI Software LLC | First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | — | (4)(5) | |||||||||||||||||||||||
Total MRI Software LLC | 1,655 | 1,640 | 1,649 | ||||||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 5.51% | Electrical Components & Equipment | 5,280 | 5,269 | 5,254 | |||||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.46% | Application Software | 3,908 | 3,890 | 3,853 | (4) | ||||||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.26% | Application Software | 2,842 | 2,799 | 2,828 | (4) | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00% | Application Software | 4,465 | 4,390 | 4,376 | (4) | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | Application Software | — | (5) | (6) | (4)(5) | |||||||||||||||||||||||
Total Pluralsight, LLC | 4,465 | 4,385 | 4,370 | ||||||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50% | Metal & Glass Containers | 1,772 | 1,754 | 1,707 | (4) | ||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25% | Footwear | 6,126 | 6,111 | 5,728 | |||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024 | 6.23% | Footwear | 102 | 102 | 96 | |||||||||||||||||||||||
Total SHO Holding I Corporation | 6,228 | 6,213 | 5,824 | ||||||||||||||||||||||||||
Spanx, LLC | First Lien Term Loan, LIBOR+5.50% cash due 11/18/2028 | 6.25% | Apparel Retail | 4,988 | 4,893 | 4,888 | (4) | ||||||||||||||||||||||
SPX Flow, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/18/2029 | 5.00% | Industrial Machinery | 4,000 | 3,820 | 3,902 | |||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 4.76% | Application Software | 2,835 | 2,707 | 2,677 | (4) | ||||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026 | 4.50% | Health Care Facilities | 3,394 | 3,382 | 3,373 | |||||||||||||||||||||||
Touchstone Acquisition, Inc. | First Lien Term Loan, LIBOR+6.00% cash due 12/29/2028 | 7.01% | Health Care Supplies | 3,039 | 2,980 | 2,978 | (4) | ||||||||||||||||||||||
Tribe Buyer LLC | First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024 | 5.50% | Human Resource & Employment Services | 1,591 | 1,590 | 1,408 | |||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.00% cash due 8/27/2025 | 4.46% | Health Care Technology | 1,712 | 1,701 | 1,710 | |||||||||||||||||||||||
Waystar Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.46% | Health Care Technology | 1,930 | 1,921 | 1,928 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25% | Integrated Telecommunication Services | $ | 4,912 | $ | 4,758 | $ | 4,912 | (4) | |||||||||||||||||||
WP CPP Holdings, LLC | First Lien Term Loan, LIBOR+3.75% cash due 4/30/2025 | 4.75% | Aerospace & Defense | 998 | 955 | 948 | (4) | ||||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75% | Aerospace & Defense | 3,000 | 2,984 | 2,937 | (4) | ||||||||||||||||||||||
Total WP CPP Holdings, LLC | 3,998 | 3,939 | 3,885 | ||||||||||||||||||||||||||
Total Portfolio Investments | $ | 141,187 | $ | 138,611 | $ | 137,827 | |||||||||||||||||||||||
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
ADB Companies, LLC | First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025 | 7.25% | Construction & Engineering | $ | 3,866 | $ | 3,783 | $ | 3,822 | (4) | |||||||||||||||||||
Alvogen Pharma US, Inc. | First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023 | 6.25% | Pharmaceuticals | 6,907 | 6,780 | 6,687 | (4) | ||||||||||||||||||||||
Amplify Finco Pty Ltd. | First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026 | 5.00% | Movies & Entertainment | 2,955 | 2,925 | 2,880 | (4) | ||||||||||||||||||||||
Anastasia Parent, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/11/2025 | 3.88% | Personal Products | 1,667 | 1,310 | 1,416 | |||||||||||||||||||||||
Asurion, LLC | Second Lien Term Loan, LIBOR+5.25% cash due 1/20/2029 | 5.33% | Property & Casualty Insurance | 3,000 | 2,970 | 2,990 | |||||||||||||||||||||||
Aurora Lux Finco S.À.R.L. | First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026 | 7.00% | Airport Services | 3,694 | 3,625 | 3,476 | (4) | ||||||||||||||||||||||
BAART Programs, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00% | Health Care Services | 3,192 | 3,160 | 3,184 | |||||||||||||||||||||||
BAART Programs, Inc. | First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027 | 6.00% | Health Care Services | 240 | 232 | 238 | (5) | ||||||||||||||||||||||
Total BAART Programs, Inc. | 3,432 | 3,392 | 3,422 | ||||||||||||||||||||||||||
Brazos Delaware II, LLC | First Lien Term Loan, LIBOR+4.00% cash due 5/21/2025 | 4.08% | Oil & Gas Equipment & Services | 4,835 | 4,823 | 4,772 | |||||||||||||||||||||||
CITGO Petroleum Corp. | First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024 | 7.25% | Oil & Gas Refining & Marketing | 3,555 | 3,520 | 3,567 | (4) | ||||||||||||||||||||||
City Football Group Limited | First Lien Term Loan, LIBOR+3.50% cash due 7/21/2028 | 4.00% | Movies & Entertainment | 2,500 | 2,488 | 2,497 | |||||||||||||||||||||||
Curium Bidco S.à.r.l. | First Lien Term Loan, LIBOR+4.00% cash due 7/9/2026 | 4.13% | Biotechnology | 4,900 | 4,863 | 4,903 | |||||||||||||||||||||||
DirecTV Financing, LLC | First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027 | 5.75% | Cable & Satellite | 3,000 | 2,970 | 3,005 | (4) | ||||||||||||||||||||||
Enviva Holdings, LP | First Lien Term Loan, LIBOR+5.50% cash due 2/17/2026 | 6.50% | Forest Products | 3,919 | 3,879 | 3,928 | |||||||||||||||||||||||
eResearch Technology, Inc. | First Lien Term Loan, LIBOR+4.50% cash due 2/4/2027 | 5.50% | Application Software | 2,469 | 2,444 | 2,484 | |||||||||||||||||||||||
Gibson Brands, Inc. | First Lien Term Loan, LIBOR+5.00% cash due 8/11/2028 | 5.75% | Leisure Products | 4,000 | 3,960 | 3,981 | |||||||||||||||||||||||
Houghton Mifflin Harcourt Publishers Inc. | First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024 | 7.25% | Education Services | 431 | 420 | 433 | (4) | ||||||||||||||||||||||
Indivior Finance S.À.R.L. | First Lien Term Loan, LIBOR+5.25% cash due 6/30/2026 | 6.00% | Pharmaceuticals | 3,990 | 3,913 | 3,977 | |||||||||||||||||||||||
Integro Parent, Inc. | First Lien Term Loan, LIBOR+5.75% cash due 10/31/2022 | 6.75% | Insurance Brokers | 3,229 | 3,221 | 3,173 | |||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Term Loan, LIBOR+4.75% cash due 7/13/2022 | 5.75% | Alternative Carriers | 4,167 | 4,112 | 4,203 | |||||||||||||||||||||||
Intelsat Jackson Holdings S.A. | First Lien Delayed Draw Term Loan, LIBOR+4.75% cash due 7/13/2022 | Alternative Carriers | — | (11) | 7 | (5) | |||||||||||||||||||||||
Total Intelsat Jackson Holdings S.A. | 4,167 | 4,101 | 4,210 | ||||||||||||||||||||||||||
INW Manufacturing, LLC | First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027 | 6.50% | Personal Products | 2,469 | 2,399 | 2,419 | (4) | ||||||||||||||||||||||
Lightstone Holdco LLC | First Lien Term Loan, LIBOR+3.75% cash due 1/30/2024 | 4.75% | Electric Utilities | 3,439 | 3,115 | 2,855 | |||||||||||||||||||||||
LTI Holdings, Inc. | First Lien Term Loan, LIBOR+3.50% cash due 9/6/2025 | 3.58% | Electronic Components | 1,372 | 1,147 | 1,356 | |||||||||||||||||||||||
MRI Software LLC | First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026 | 6.50% | Application Software | 1,635 | 1,621 | 1,634 | (4) | ||||||||||||||||||||||
MRI Software LLC | First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | — | (4)(5) | |||||||||||||||||||||||
MRI Software LLC | First Lien Revolver, LIBOR+5.50% cash due 2/10/2026 | Application Software | — | (1) | — | (4)(5) | |||||||||||||||||||||||
Total MRI Software LLC | 1,635 | 1,619 | 1,634 |
Portfolio Company | Investment Type | Cash Interest Rate (1)(2) | Industry | Principal | Cost | Fair Value (3) | Notes | ||||||||||||||||||||||
Northern Star Industries Inc. | First Lien Term Loan, LIBOR+4.50% cash due 3/31/2025 | 5.50% | Electrical Components & Equipment | $ | 5,308 | $ | 5,294 | $ | 5,294 | ||||||||||||||||||||
OEConnection LLC | First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026 | 4.08% | Application Software | 3,926 | 3,908 | 3,921 | (4) | ||||||||||||||||||||||
Olaplex, Inc. | First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026 | 7.25% | Personal Products | 3,502 | 3,454 | 3,475 | (4) | ||||||||||||||||||||||
Olaplex, Inc. | First Lien Revolver, LIBOR+6.25% cash due 1/8/2025 | Personal Products | — | (4) | (5) | (4)(5) | |||||||||||||||||||||||
Total Olaplex, Inc. | 3,502 | 3,450 | 3,470 | ||||||||||||||||||||||||||
Planview Parent, Inc. | Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028 | 8.00% | Application Software | 2,842 | 2,799 | 2,849 | (4) | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027 | 9.00% | Application Software | 4,465 | 4,383 | 4,380 | (4) | ||||||||||||||||||||||
Pluralsight, LLC | First Lien Revolver, LIBOR+8.00% cash due 4/6/2027 | Application Software | — | (6) | (6) | (4)(5) | |||||||||||||||||||||||
Total Pluralsight, LLC | 4,465 | 4,377 | 4,374 | ||||||||||||||||||||||||||
Sabert Corporation | First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026 | 5.50% | Metal & Glass Containers | 1,819 | 1,800 | 1,825 | (4) | ||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.25% cash due 4/27/2024 | 6.25% | Footwear | 6,159 | 6,140 | 5,851 | |||||||||||||||||||||||
SHO Holding I Corporation | First Lien Term Loan, LIBOR+5.23% cash due 4/27/2024 | 6.23% | Footwear | 102 | 102 | 97 | |||||||||||||||||||||||
Total SHO Holding I Corporation | 6,261 | 6,242 | 5,948 | ||||||||||||||||||||||||||
Supermoose Borrower, LLC | First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025 | 3.88% | Application Software | 2,850 | 2,703 | 2,657 | (4) | ||||||||||||||||||||||
Surgery Center Holdings, Inc. | First Lien Term Loan, LIBOR+3.75% cash due 8/31/2026 | 4.50% | Health Care Facilities | 4,911 | 4,895 | 4,925 | |||||||||||||||||||||||
Tribe Buyer LLC | First Lien Term Loan, LIBOR+4.50% cash due 2/16/2024 | 5.50% | Human Resource & Employment Services | 1,599 | 1,598 | 1,354 | |||||||||||||||||||||||
Verscend Holding Corp. | First Lien Term Loan, LIBOR+4.00% cash due 8/27/2025 | 4.08% | Health Care Technology | 1,721 | 1,709 | 1,725 | |||||||||||||||||||||||
Waystar Technologies, Inc. | First Lien Term Loan, LIBOR+4.00% cash due 10/22/2026 | 4.08% | Health Care Technology | 3,940 | 3,920 | 3,947 | |||||||||||||||||||||||
Windstream Services II, LLC | First Lien Term Loan, LIBOR+6.25% cash due 9/21/2027 | 7.25% | Integrated Telecommunication Services | 4,937 | 4,768 | 4,967 | (4) | ||||||||||||||||||||||
WP CPP Holdings, LLC | Second Lien Term Loan, LIBOR+7.75% cash due 4/30/2026 | 8.75% | Aerospace & Defense | 3,000 | 2,982 | 2,965 | (4) | ||||||||||||||||||||||
Total Portfolio Investments | $ | 126,512 | $ | 124,112 | $ | 124,108 | |||||||||||||||||||||||
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||
Selected Balance Sheet Information: | Selected Balance Sheet Information: | Selected Balance Sheet Information: | ||||||||||||||||||||
Investments at fair value (cost December 31, 2021: $137,523; September 30, 2021: $124,112) | $ | 137,491 | $ | 124,108 | ||||||||||||||||||
Investments at fair value (cost March 31, 2022: $138,611; September 30, 2021: $124,112) | Investments at fair value (cost March 31, 2022: $138,611; September 30, 2021: $124,112) | $ | 137,827 | $ | 124,108 | |||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 4,678 | 14,087 | Cash and cash equivalents | 8,657 | 14,087 | ||||||||||||||||
Restricted cash | Restricted cash | 1,048 | 1,055 | Restricted cash | 1,261 | 1,055 | ||||||||||||||||
Other assets | Other assets | 1,906 | 1,750 | Other assets | 2,147 | 1,750 | ||||||||||||||||
Total assets | Total assets | $ | 145,123 | $ | 141,000 | Total assets | $ | 149,892 | $ | 141,000 | ||||||||||||
Senior credit facility payable | Senior credit facility payable | $ | 71,882 | $ | 71,882 | Senior credit facility payable | $ | 76,082 | $ | 71,882 | ||||||||||||
Glick JV Notes payable at fair value (proceeds December 31, 2021: $69,985; September 30, 2021: $70,525) | 63,835 | 63,522 | ||||||||||||||||||||
Glick JV Notes payable at fair value (proceeds March 31, 2022: $69,585; September 30, 2021: $70,525) | Glick JV Notes payable at fair value (proceeds March 31, 2022: $69,585; September 30, 2021: $70,525) | 63,598 | 63,522 | |||||||||||||||||||
Other liabilities | Other liabilities | 9,406 | 5,596 | Other liabilities | 10,212 | 5,596 | ||||||||||||||||
Total liabilities | Total liabilities | $ | 145,123 | $ | 141,000 | Total liabilities | $ | 149,892 | $ | 141,000 | ||||||||||||
Members' equity | Members' equity | — | — | Members' equity | — | — | ||||||||||||||||
Total liabilities and members' equity | Total liabilities and members' equity | $ | 145,123 | $ | 141,000 | Total liabilities and members' equity | $ | 149,892 | $ | 141,000 |
For the three months ended March 31, 2022 | For the six months ended March 31, 2022 | For the period from March 19, 2021 to March 31, 2021 | |||||||||||||||
Selected Statements of Operations Information: | |||||||||||||||||
Interest income | $ | 2,220 | $ | 4,380 | $ | 304 | |||||||||||
Fee income | 35 | 35 | 3 | ||||||||||||||
Total investment income | 2,255 | 4,415 | 307 | ||||||||||||||
Senior credit facility interest expense | 538 | 1,048 | 89 | ||||||||||||||
Glick JV Notes interest expense | 801 | 1,619 | 120 | ||||||||||||||
Other expenses | 29 | 68 | 6 | ||||||||||||||
Total expenses (1) | 1,368 | 2,735 | 215 | ||||||||||||||
Net unrealized appreciation (depreciation) | (914) | (1,796) | (124) | ||||||||||||||
Realized gain (loss) | 27 | 116 | 32 | ||||||||||||||
Net income (loss) | $ | — | $ | — | $ | — |
(Share amounts in thousands) | (Share amounts in thousands) | Three months ended December 31, 2021 | Three months ended December 31, 2020 | (Share amounts in thousands) | Three months ended March 31, 2022 | Three months ended March 31, 2021 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | ||||||||||||||||||||||||||||||||
Earnings (loss) per common share — basic and diluted: | Earnings (loss) per common share — basic and diluted: | Earnings (loss) per common share — basic and diluted: | ||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | Net increase (decrease) in net assets resulting from operations | $ | 39,408 | $ | 65,544 | Net increase (decrease) in net assets resulting from operations | $ | 14,441 | $ | 88,117 | $ | 53,849 | $ | 153,661 | ||||||||||||||||||||||||||
Weighted average common shares outstanding — basic and diluted | Weighted average common shares outstanding — basic and diluted | 180,381 | 140,961 | Weighted average common shares outstanding — basic and diluted | 181,598 | 146,652 | 180,982 | 143,775 | ||||||||||||||||||||||||||||||||
Earnings (loss) per common share — basic and diluted | Earnings (loss) per common share — basic and diluted | $ | 0.22 | $ | 0.46 | Earnings (loss) per common share — basic and diluted | $ | 0.08 | $ | 0.60 | $ | 0.30 | $ | 1.07 |
Common Stock | Common Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Share amounts in thousands) | (Share amounts in thousands) | Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2021 | Balance as of September 30, 2021 | 180,361 | $ | 1,804 | $ | 1,804,354 | $ | (493,335) | $ | 1,312,823 | Balance as of September 30, 2021 | 180,361 | $ | 1,804 | $ | 1,804,354 | $ | (493,335) | $ | 1,312,823 | ||||||||||||||||||||||||||||||||||||||||||||
Net investment income | Net investment income | — | — | — | 32,295 | 32,295 | Net investment income | — | — | — | 32,295 | 32,295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | Net unrealized appreciation (depreciation) | — | — | — | (4,586) | (4,586) | Net unrealized appreciation (depreciation) | — | — | — | (4,586) | (4,586) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | — | — | — | 9,321 | 9,321 | Net realized gains (losses) | — | — | — | 9,321 | 9,321 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) | (Provision) benefit for taxes on realized and unrealized gains (losses) | — | — | — | 2,378 | 2,378 | (Provision) benefit for taxes on realized and unrealized gains (losses) | — | — | — | 2,378 | 2,378 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to stockholders | Distributions to stockholders | — | — | — | (27,956) | (27,956) | Distributions to stockholders | — | — | — | (27,956) | (27,956) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | Issuance of common stock under dividend reinvestment plan | 108 | 1 | 785 | — | 786 | Issuance of common stock under dividend reinvestment plan | 108 | 1 | 785 | — | 786 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2021 | Balance as of December 31, 2021 | 180,469 | $ | 1,805 | $ | 1,805,139 | $ | (481,883) | $ | 1,325,061 | Balance as of December 31, 2021 | 180,469 | $ | 1,805 | $ | 1,805,139 | $ | (481,883) | $ | 1,325,061 | ||||||||||||||||||||||||||||||||||||||||||||
Net investment income | Net investment income | — | — | — | 40,098 | 40,098 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | Net unrealized appreciation (depreciation) | — | — | — | (27,038) | (27,038) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net realized gains (losses) | Net realized gains (losses) | — | — | — | 1,402 | 1,402 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) | (Provision) benefit for taxes on realized and unrealized gains (losses) | — | — | — | (21) | (21) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to stockholders | Distributions to stockholders | — | — | — | (29,271) | (29,271) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with the "at the market" offering | Issuance of common stock in connection with the "at the market" offering | 2,632 | 26 | 19,353 | — | 19,379 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | Issuance of common stock under dividend reinvestment plan | 104 | 1 | 765 | — | 766 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2022 | Balance as of March 31, 2022 | 183,205 | $ | 1,832 | $ | 1,825,257 | $ | (496,713) | $ | 1,330,376 |
Common Stock | ||||||||||||||||||||||||||||||||
Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | ||||||||||||||||||||||||||||
Balance as of September 30, 2020 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (574,304) | $ | 914,879 | |||||||||||||||||||||||
Net investment income | — | — | — | 10,018 | 10,018 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | — | — | — | 47,556 | 47,556 | |||||||||||||||||||||||||||
Net realized gains (losses) | — | — | — | 8,215 | 8,215 | |||||||||||||||||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) | — | — | — | (245) | (245) | |||||||||||||||||||||||||||
Distributions to stockholders | — | — | — | (15,506) | (15,506) | |||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | 94 | 1 | 527 | — | 528 | |||||||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | (94) | (1) | (527) | — | (528) | |||||||||||||||||||||||||||
Balance as of December 31, 2020 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (524,266) | $ | 964,917 |
Common Stock | ||||||||||||||||||||||||||||||||
(Share amounts in thousands) | Shares | Par Value | Additional paid-in-capital | Accumulated Overdistributed Earnings | Total Net Assets | |||||||||||||||||||||||||||
Balance as of September 30, 2020 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (574,304) | $ | 914,879 | |||||||||||||||||||||||
Net investment income | — | — | — | 10,018 | 10,018 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | — | — | — | 47,556 | 47,556 | |||||||||||||||||||||||||||
Net realized gains (losses) | — | — | — | 8,215 | 8,215 | |||||||||||||||||||||||||||
Provision for income tax (expense) benefit | — | — | — | (245) | (245) | |||||||||||||||||||||||||||
Distributions to stockholders | — | — | — | (15,506) | (15,506) | |||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | 94 | 1 | 527 | — | 528 | |||||||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | (94) | (1) | (527) | — | (528) | |||||||||||||||||||||||||||
Balance as of December 31, 2020 | 140,961 | $ | 1,409 | $ | 1,487,774 | $ | (524,266) | $ | 964,917 | |||||||||||||||||||||||
Net investment income | — | — | — | 18,114 | 18,114 | |||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) | — | — | — | 65,144 | 65,144 | |||||||||||||||||||||||||||
Net realized gains (losses) | — | — | — | 5,856 | 5,856 | |||||||||||||||||||||||||||
Provision for income tax (expense) benefit | — | — | — | (997) | (997) | |||||||||||||||||||||||||||
Distributions to stockholders | — | — | — | (16,915) | (16,915) | |||||||||||||||||||||||||||
Issuance of common stock in connection with the Mergers | 39,400 | 395 | 242,309 | — | 242,704 | |||||||||||||||||||||||||||
Issuance of common stock under dividend reinvestment plan | 82 | 1 | 510 | — | 511 | |||||||||||||||||||||||||||
Repurchases of common stock under dividend reinvestment plan | (82) | (1) | (510) | — | (511) | |||||||||||||||||||||||||||
Balance as of March 31, 2021 | 180,361 | $ | 1,804 | $ | 1,730,083 | $ | (453,064) | $ | 1,278,823 |
Date Declared | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 13, 2021 | October 13, 2021 | December 15, 2021 | December 31, 2021 | $ | 0.155 | $ 27.2 million | 107,971 | $ 0.8 million | October 13, 2021 | December 15, 2021 | December 31, 2021 | $ | 0.155 | $ 27.2 million | 107,971 | $ 0.8 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total for the three months ended December 31, 2021 | $ | 0.155 | $ 27.2 million | 107,971 | $ 0.8 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 28, 2022 | January 28, 2022 | March 15, 2022 | March 31, 2022 | 0.16 | 28.5 million | 104,411 | 0.8 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total for the six months ended March 31, 2022 | Total for the six months ended March 31, 2022 | $ | 0.315 | $ 55.7 million | 212,382 | $ 1.6 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Date Declared | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (2) | DRIP Shares Value | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (2) | DRIP Shares Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 13, 2020 | November 13, 2020 | December 15, 2020 | December 31, 2020 | $ | 0.11 | $ 15.0 million | 93,964 | $ 0.5 million | November 13, 2020 | December 15, 2020 | December 31, 2020 | $ | 0.11 | $ 15.0 million | 93,964 | $ 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total for the three months ended December 31, 2020 | $ | 0.11 | $ 15.0 million | 93,964 | $ 0.5 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 29, 2021 | January 29, 2021 | March 15, 2021 | March 31, 2021 | 0.12 | 16.4 million | 81,702 | 0.5 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total for the six months ended March 31, 2021 | Total for the six months ended March 31, 2021 | $ | 0.23 | $ 31.4 million | 175,666 | $ 1.0 million |
Number of Shares Issued | Gross Proceeds | Placement Agent Fees | Net Proceeds (1) | Average Sales Price per Share (2) | ||||||||||||||||||||||||||||
"At the market" offering | 2,632,260 | $ | 19,794 | $ | 198 | $ | 19,596 | $ | 7.52 |
As of December 31, 2021 | As of September 30, 2021 | As of March 31, 2022 | As of September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
($ in millions) | ($ in millions) | 2025 Notes | 2027 Notes | 2025 Notes | 2027 Notes | ($ in millions) | 2025 Notes | 2027 Notes | 2025 Notes | 2027 Notes | ||||||||||||||||||||||||||||||||||||||||||
Principal | Principal | $ | 300.0 | $ | 350.0 | $ | 300.0 | $ | 350.0 | Principal | $ | 300.0 | $ | 350.0 | $ | 300.0 | $ | 350.0 | ||||||||||||||||||||||||||||||||||
Unamortized financing costs | Unamortized financing costs | (2.3) | (3.8) | (2.6) | (4.0) | Unamortized financing costs | (2.1) | (3.6) | (2.6) | (4.0) | ||||||||||||||||||||||||||||||||||||||||||
Unaccreted discount | Unaccreted discount | (1.6) | (0.9) | (1.7) | (0.9) | Unaccreted discount | (1.5) | (0.8) | (1.7) | (0.9) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate swap fair value adjustment | Interest rate swap fair value adjustment | — | (5.9) | — | (2.1) | Interest rate swap fair value adjustment | — | (23.3) | — | (2.1) | ||||||||||||||||||||||||||||||||||||||||||
Net carrying value | Net carrying value | $ | 296.1 | $ | 339.4 | $ | 295.7 | $ | 343.0 | Net carrying value | $ | 296.4 | $ | 322.3 | $ | 295.7 | $ | 343.0 | ||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | $ | 312.8 | $ | 347.4 | $ | 314.5 | $ | 351.1 | Fair Value | $ | 294.9 | $ | 320.4 | $ | 314.5 | $ | 351.1 |
($ in millions) | ($ in millions) | 2025 Notes | 2027 Notes | ($ in millions) | 2025 Notes | 2027 Notes | |||||||||||||||||||||||||||||||
Three months ended March 31, 2022 | Six months ended March 31, 2022 | Three months ended March 31, 2022 | Six months ended March 31, 2022 | ||||||||||||||||||||||||||||||||||
Coupon interest | Coupon interest | $ | 2.6 | $ | 2.4 | Coupon interest | $ | 2.6 | $ | 5.3 | $ | 2.4 | $ | 4.8 | |||||||||||||||||||||||
Amortization of financing costs and discount | Amortization of financing costs and discount | 0.3 | 0.2 | Amortization of financing costs and discount | 0.3 | 0.6 | 0.2 | 0.4 | |||||||||||||||||||||||||||||
Effect of interest rate swap | Effect of interest rate swap | — | (0.7) | Effect of interest rate swap | — | — | (0.7) | (1.5) | |||||||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 2.9 | $ | 1.9 | Total interest expense | $ | 2.9 | $ | 5.9 | $ | 1.9 | $ | 3.7 | |||||||||||||||||||||||
Coupon interest rate (net of effect of interest rate swap for 2027 Notes) | Coupon interest rate (net of effect of interest rate swap for 2027 Notes) | 3.500 | % | 1.782 | % | Coupon interest rate (net of effect of interest rate swap for 2027 Notes) | 3.500 | % | 3.500 | % | 1.877 | % | 1.867 | % |
($ in millions) | 2025 Notes | ||||||||||
Three months ended March 31, 2021 | Six months ended March 31, 2021 | ||||||||||
Coupon interest | $ | 2.6 | $ | 5.3 | |||||||
Amortization of financing costs and discount | 0.3 | 0.6 | |||||||||
Total interest expense | $ | 2.9 | $ | 5.9 | |||||||
Coupon interest rate | 3.500 | % | 3.500 | % |
Three months ended December 31, 2021 | Three months ended December 31, 2020 | Three months ended March 31, 2022 | Three months ended March 31, 2021 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | |||||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | Net increase (decrease) in net assets resulting from operations | $ | 39,408 | $ | 65,544 | Net increase (decrease) in net assets resulting from operations | $ | 14,441 | $ | 88,117 | $ | 53,849 | $ | 153,661 | ||||||||||||||||||||||||||
Net unrealized (appreciation) depreciation | Net unrealized (appreciation) depreciation | 4,586 | (47,556) | Net unrealized (appreciation) depreciation | 27,038 | (65,144) | 31,624 | (112,700) | ||||||||||||||||||||||||||||||||
Book/tax difference due to organizational costs | Book/tax difference due to organizational costs | (22) | (22) | Book/tax difference due to organizational costs | (22) | — | (44) | (22) | ||||||||||||||||||||||||||||||||
Book/tax difference due to interest income on certain loans | Book/tax difference due to interest income on certain loans | — | 130 | Book/tax difference due to interest income on certain loans | — | (469) | — | (339) | ||||||||||||||||||||||||||||||||
Book/tax difference due to capital losses utilized | Book/tax difference due to capital losses utilized | (10,531) | (9,943) | Book/tax difference due to capital losses utilized | (4,916) | (11,954) | (15,447) | (21,897) | ||||||||||||||||||||||||||||||||
Other book/tax differences | Other book/tax differences | (11,171) | 5,614 | Other book/tax differences | 1,393 | 12,018 | (9,778) | 17,632 | ||||||||||||||||||||||||||||||||
Taxable/Distributable Income (1) | Taxable/Distributable Income (1) | $ | 22,270 | $ | 13,767 | Taxable/Distributable Income (1) | $ | 37,934 | $ | 22,568 | $ | 60,204 | $ | 36,335 |
Undistributed ordinary income, net | $ | (20,260) | |||
Net realized capital losses | 497,255 | ||||
Unrealized losses, net | 16,340 | ||||
Accumulated overdistributed earnings | $ | 493,335 |
($ in millions) | |||||
Portfolio Company | Net Realized Gain (Loss) | ||||
TigerConnect Inc. | 1.8 | ||||
Other, net | (0.4) | ||||
Total, net | $ | 1.4 |
($ in millions) | |||||
Portfolio Company | Net Realized Gain (Loss) | ||||
LTI Holdings, Inc. | $ | 2.6 | |||
L Squared Capital Partners LLC | 2.0 | ||||
BX Commercial Mortgage Trust 2020-VIVA | 1.1 | ||||
Other, net | 0.2 | ||||
Total, net | $ | 5.9 |
($ in millions) | |||||
Portfolio Company | Net Realized Gain (Loss) | ||||
Foreign currency forward contracts | $ | ||||
OmniSYS Acquisition Corporation | 2.0 | ||||
First Star Speir Aviation Limited | 1.9 | ||||
TigerConnect Inc. | 1.8 | ||||
Other, net | |||||
Total, net | $ |
($ in millions) | |||||
Portfolio Company | Net Realized Gain (Loss) | ||||
PLATO Learning Inc. | $ | 7.8 | |||
L Squared Capital Partners LLC | |||||
LTI Holdings, Inc. | 2.6 | ||||
BX Commercial Mortgage Trust 2020-VIVA | |||||
ExamSoft Worldwide Inc. | 0.9 | ||||
California Pizza Kitchen Inc. | |||||
99 Cents Only Stores | (0.9) | ||||
Other, net | |||||
Total, net | $ |
(Share amounts in thousands) | (Share amounts in thousands) | Three months ended December 31, 2021 | Three months ended December 31, 2020 | (Share amounts in thousands) | Three months ended March 31, 2022 | Three months ended March 31, 2021 | Six months ended March 31, 2022 | Six months ended March 31, 2021 | ||||||||||||||||||||||||||||||||
Net asset value per share at beginning of period | Net asset value per share at beginning of period | $7.28 | $6.49 | Net asset value per share at beginning of period | $7.34 | $6.85 | $7.28 | $6.49 | ||||||||||||||||||||||||||||||||
Net investment income (1) | Net investment income (1) | 0.18 | 0.07 | Net investment income (1) | 0.22 | 0.12 | 0.40 | 0.20 | ||||||||||||||||||||||||||||||||
Net unrealized appreciation (depreciation) (1) | Net unrealized appreciation (depreciation) (1) | (0.02) | 0.34 | Net unrealized appreciation (depreciation) (1) | (0.15) | 0.40 | (0.17) | 0.73 | ||||||||||||||||||||||||||||||||
Net realized gains (losses) (1) | Net realized gains (losses) (1) | 0.05 | 0.06 | Net realized gains (losses) (1) | 0.01 | 0.04 | 0.06 | 0.10 | ||||||||||||||||||||||||||||||||
(Provision) benefit for taxes on realized and unrealized gains (losses) (1) | (Provision) benefit for taxes on realized and unrealized gains (losses) (1) | 0.01 | — | (Provision) benefit for taxes on realized and unrealized gains (losses) (1) | — | (0.01) | 0.01 | (0.01) | ||||||||||||||||||||||||||||||||
Distributions of net investment income to stockholders | Distributions of net investment income to stockholders | (0.16) | (0.11) | Distributions of net investment income to stockholders | (0.16) | (0.12) | (0.32) | (0.23) | ||||||||||||||||||||||||||||||||
Issuance of common stock | Issuance of common stock | — | (0.19) | — | (0.19) | |||||||||||||||||||||||||||||||||||
Net asset value per share at end of period | Net asset value per share at end of period | 7.34 | 6.85 | Net asset value per share at end of period | 7.26 | 7.09 | 7.26 | 7.09 | ||||||||||||||||||||||||||||||||
Per share market value at beginning of period | Per share market value at beginning of period | $7.06 | $4.84 | Per share market value at beginning of period | $7.46 | $5.57 | $7.06 | $4.84 | ||||||||||||||||||||||||||||||||
Per share market value at end of period | Per share market value at end of period | 7.46 | 5.57 | Per share market value at end of period | 7.37 | 6.20 | 7.37 | 6.20 | ||||||||||||||||||||||||||||||||
Total return (2) | Total return (2) | 7.92% | 17.34% | Total return (2) | 0.95% | 13.44% | 8.94% | 33.11% | ||||||||||||||||||||||||||||||||
Common shares outstanding at beginning of period | Common shares outstanding at beginning of period | 180,361 | 140,961 | Common shares outstanding at beginning of period | 180,469 | 140,961 | 180,361 | 140,961 | ||||||||||||||||||||||||||||||||
Common shares outstanding at end of period | Common shares outstanding at end of period | 180,469 | 140,961 | Common shares outstanding at end of period | 183,205 | 180,361 | 183,205 | 180,361 | ||||||||||||||||||||||||||||||||
Net assets at beginning of period | Net assets at beginning of period | $1,312,823 | $914,879 | Net assets at beginning of period | $1,325,061 | $964,917 | $1,312,823 | $914,879 | ||||||||||||||||||||||||||||||||
Net assets at end of period | Net assets at end of period | $1,325,061 | $964,917 | Net assets at end of period | $1,330,376 | $1,278,823 | $1,330,376 | $1,278,823 | ||||||||||||||||||||||||||||||||
Average net assets (3) | Average net assets (3) | $1,327,934 | $944,955 | Average net assets (3) | $1,335,113 | $1,040,838 | $1,331,484 | $992,644 | ||||||||||||||||||||||||||||||||
Ratio of net investment income to average net assets (4) | Ratio of net investment income to average net assets (4) | 9.65% | 4.21% | Ratio of net investment income to average net assets (4) | 12.18% | 7.06% | 10.90% | 5.68% | ||||||||||||||||||||||||||||||||
Ratio of total expenses to average net assets (4) | Ratio of total expenses to average net assets (4) | 8.99% | 11.83% | Ratio of total expenses to average net assets (4) | 7.58% | 9.33% | 8.29% | 10.53% | ||||||||||||||||||||||||||||||||
Ratio of net expenses to average net assets (4) | Ratio of net expenses to average net assets (4) | 8.77% | 11.83% | Ratio of net expenses to average net assets (4) | 7.35% | 9.28% | 8.06% | 10.51% | ||||||||||||||||||||||||||||||||
Ratio of portfolio turnover to average investments at fair value | Ratio of portfolio turnover to average investments at fair value | 9.14% | 10.34% | Ratio of portfolio turnover to average investments at fair value | 6.93% | 12.69% | 16.03% | 22.91% | ||||||||||||||||||||||||||||||||
Weighted average outstanding debt (5) | Weighted average outstanding debt (5) | $1,331,141 | $703,403 | Weighted average outstanding debt (5) | $1,374,167 | $810,738 | $1,352,418 | $756,399 | ||||||||||||||||||||||||||||||||
Average debt per share (1) | Average debt per share (1) | $7.38 | $4.99 | Average debt per share (1) | $7.57 | $5.53 | $7.47 | $5.26 | ||||||||||||||||||||||||||||||||
Asset coverage ratio at end of period (6) | Asset coverage ratio at end of period (6) | 200.81% | 236.67% | Asset coverage ratio at end of period (6) | 193.12% | 214.28% | 193.12% | 214.28% |
(1) | Calculated based upon weighted average shares outstanding for the period. | ||||
(2) | Total return equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming dividend reinvestment prices obtained under the Company's DRIP. Total return does not include sales load. | ||||
(3) | Calculated based upon the weighted average net assets for the period. | ||||
(4) | Interim periods are annualized. | ||||
(5) | Calculated based upon the weighted average of principal debt outstanding for the period. | ||||
(6) | Based on outstanding senior securities of |
Description | Description | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | Description | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency forward contract | Foreign currency forward contract | $ | 49,542 | € | 42.652 | 2/10/2022 | $ | 999 | $ | — | Derivative asset | Foreign currency forward contract | $ | 49,897 | € | 43,643 | 5/12/2022 | $ | 1,270 | $ | — | Derivative asset | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency forward contract | Foreign currency forward contract | $ | 54,395 | £ | 40,109 | 2/10/2022 | $ | 76 | $ | — | Derivative asset | Foreign currency forward contract | $ | 54,292 | £ | 40,109 | 5/12/2022 | $ | 1,494 | $ | — | Derivative asset | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,075 | $ | — | $ | 2,764 | $ | — |
Description | Notional Amount to be Purchased | Notional Amount to be Sold | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 52,186 | £ | 37,709 | 11/12/2021 | $ | 1,339 | $ | — | Derivative asset | ||||||||||||||||||||||||||||
Foreign currency forward contract | $ | 46,663 | € | 39,736 | 11/12/2021 | $ | 573 | $ | — | Derivative asset | ||||||||||||||||||||||||||||
$ | 1,912 | $ | — |
Description | Description | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | Description | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swap | Interest rate swap | $ | 350,000 | 1/15/2027 | $ | — | $ | 5,931 | Derivative liability | Interest rate swap | $ | 350,000 | 1/15/2027 | $ | — | $ | 23,272 | Derivative liability | ||||||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | 5,931 | $ | — | $ | 23,272 |
Description | Notional Amount | Maturity Date | Gross Amount of Recognized Assets | Gross Amount of Recognized Liabilities | Balance Sheet Location of Net Amounts | |||||||||||||||||||||||||||
Interest rate swap | $ | 350,000 | 1/15/2027 | $ | — | $ | 2,108 | Derivative liability | ||||||||||||||||||||||||
$ | — | $ | 2,108 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Realfi Strategic Capital Funding LLC | $ | 50,000 | $ | — | ||||||||||||||||||||||||
Fairbridge Strategic Capital Funding LLC | Fairbridge Strategic Capital Funding LLC | $ | 42,850 | $ | — | |||||||||||||||||||||||
Senior Loan Fund JV I, LLC | Senior Loan Fund JV I, LLC | 35,000 | 35,000 | Senior Loan Fund JV I, LLC | 35,000 | 35,000 | ||||||||||||||||||||||
Athenex, Inc. | Athenex, Inc. | 21,072 | 21,072 | Athenex, Inc. | 21,072 | 21,072 | ||||||||||||||||||||||
OCSI Glick JV LLC | OCSI Glick JV LLC | 13,998 | 13,998 | |||||||||||||||||||||||||
Marinus Pharmaceuticals, Inc. | Marinus Pharmaceuticals, Inc. | 18,349 | 18,349 | Marinus Pharmaceuticals, Inc. | 11,468 | 18,349 | ||||||||||||||||||||||
Dominion Diagnostics, LLC | Dominion Diagnostics, LLC | 11,148 | 11,148 | |||||||||||||||||||||||||
Latam Airlines Group S.A. | Latam Airlines Group S.A. | 9,911 | 7,267 | |||||||||||||||||||||||||
BAART Programs, Inc. | BAART Programs, Inc. | 9,561 | 3,583 | |||||||||||||||||||||||||
MRI Software LLC | MRI Software LLC | 6,800 | 2,699 | |||||||||||||||||||||||||
Innocoll Pharmaceuticals Limited | Innocoll Pharmaceuticals Limited | 6,292 | — | |||||||||||||||||||||||||
NeuAG, LLC | NeuAG, LLC | 5,441 | 5,441 | |||||||||||||||||||||||||
RumbleOn, Inc. | RumbleOn, Inc. | 16,301 | 16,301 | RumbleOn, Inc. | 4,823 | 16,301 | ||||||||||||||||||||||
BAART Programs, Inc. | 14,237 | 3,583 | ||||||||||||||||||||||||||
Latam Airlines Group S.A. | 14,210 | 7,267 | ||||||||||||||||||||||||||
OCSI Glick JV LLC | 13,998 | 13,998 | ||||||||||||||||||||||||||
Dominion Diagnostics, LLC | 11,148 | 11,148 | ||||||||||||||||||||||||||
Coty Inc. | 9,886 | 9,886 | ||||||||||||||||||||||||||
Assembled Brands Capital LLC | 7,561 | 24,868 | ||||||||||||||||||||||||||
Sunland Asphalt & Construction, LLC | 6,695 | 6,492 | ||||||||||||||||||||||||||
NeuAG, LLC | 5,441 | 5,441 | ||||||||||||||||||||||||||
Olaplex, Inc. | 4,806 | 4,806 | ||||||||||||||||||||||||||
Ardonagh Midco 3 PLC | Ardonagh Midco 3 PLC | 4,372 | 14,892 | Ardonagh Midco 3 PLC | 4,372 | 14,892 | ||||||||||||||||||||||
Mindbody, Inc. | Mindbody, Inc. | 4,000 | 4,000 | Mindbody, Inc. | 4,000 | 4,000 | ||||||||||||||||||||||
OTG Management, LLC | OTG Management, LLC | 3,789 | 3,789 | OTG Management, LLC | 3,789 | 3,789 | ||||||||||||||||||||||
PFNY Holdings, LLC | PFNY Holdings, LLC | 3,755 | — | PFNY Holdings, LLC | 3,755 | — | ||||||||||||||||||||||
Accupac, Inc. | Accupac, Inc. | 3,573 | 3,267 | Accupac, Inc. | 3,675 | 3,267 | ||||||||||||||||||||||
Mesoblast, Inc. | Mesoblast, Inc. | 3,553 | — | Mesoblast, Inc. | 3,553 | — | ||||||||||||||||||||||
Pluralsight, LLC | Pluralsight, LLC | 3,532 | 3,532 | Pluralsight, LLC | 3,532 | 3,532 | ||||||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | 3,500 | 3,500 | ||||||||||||||||||||||||||
Assembled Brands Capital LLC | Assembled Brands Capital LLC | 3,527 | 24,868 | |||||||||||||||||||||||||
Dialyze Holdings, LLC | Dialyze Holdings, LLC | 3,431 | 3,431 | Dialyze Holdings, LLC | 3,431 | 3,431 | ||||||||||||||||||||||
CorEvitas, LLC | 3,235 | 3,235 | ||||||||||||||||||||||||||
Spanx, LLC | Spanx, LLC | 3,092 | — | Spanx, LLC | 3,092 | — | ||||||||||||||||||||||
Thrasio, LLC | Thrasio, LLC | 2,578 | 2,578 | Thrasio, LLC | 2,578 | 2,578 | ||||||||||||||||||||||
PRGX Global, Inc. | PRGX Global, Inc. | 2,518 | 2,518 | |||||||||||||||||||||||||
Liquid Environmental Solutions Corporation | Liquid Environmental Solutions Corporation | 2,324 | — | |||||||||||||||||||||||||
MHE Intermediate Holdings, LLC | MHE Intermediate Holdings, LLC | 2,334 | 3,466 | MHE Intermediate Holdings, LLC | 2,277 | 3,466 | ||||||||||||||||||||||
Liquid Environmental Solutions Corporation | 2,324 | — | ||||||||||||||||||||||||||
Acquia Inc. | Acquia Inc. | 2,240 | 2,061 | Acquia Inc. | 2,240 | 2,061 | ||||||||||||||||||||||
Relativity ODA LLC | Relativity ODA LLC | 2,218 | 2,218 | Relativity ODA LLC | 2,218 | 2,218 | ||||||||||||||||||||||
MRI Software LLC | 1,800 | 2,699 | ||||||||||||||||||||||||||
CorEvitas, LLC | CorEvitas, LLC | 1,831 | 3,235 | |||||||||||||||||||||||||
Telestream Holdings Corporation | Telestream Holdings Corporation | 1,759 | 1,266 | |||||||||||||||||||||||||
Tahoe Bidco B.V. | Tahoe Bidco B.V. | 1,741 | — | |||||||||||||||||||||||||
LSL Holdco, LLC | LSL Holdco, LLC | 1,710 | — | |||||||||||||||||||||||||
Berner Food & Beverage, LLC | Berner Food & Beverage, LLC | 1,794 | 2,475 | Berner Food & Beverage, LLC | 1,671 | 2,475 | ||||||||||||||||||||||
Tahoe Bidco B.V. | 1,741 | — | ||||||||||||||||||||||||||
PRGX Global, Inc. | 1,679 | 2,518 | ||||||||||||||||||||||||||
Apptio, Inc. | Apptio, Inc. | 1,338 | 1,338 | Apptio, Inc. | 1,338 | 1,338 | ||||||||||||||||||||||
Coyote Buyer, LLC | Coyote Buyer, LLC | 1,333 | 1,333 | Coyote Buyer, LLC | 1,333 | 1,333 | ||||||||||||||||||||||
Community Brands Parentco, LLC | 1,100 | 1,100 | ||||||||||||||||||||||||||
Telestream Holdings Corporation | 1,055 | 1,266 | ||||||||||||||||||||||||||
Kings Buyer, LLC | Kings Buyer, LLC | 1,208 | — | |||||||||||||||||||||||||
Digital.AI Software Holdings, Inc. | Digital.AI Software Holdings, Inc. | 718 | 898 | |||||||||||||||||||||||||
109 Montgomery Owner LLC | 109 Montgomery Owner LLC | 825 | 937 | 109 Montgomery Owner LLC | 688 | 937 | ||||||||||||||||||||||
GKD Index Partners, LLC | GKD Index Partners, LLC | 320 | 320 | |||||||||||||||||||||||||
Thermacell Repellents, Inc. | Thermacell Repellents, Inc. | 229 | 833 | |||||||||||||||||||||||||
The Avery | The Avery | 800 | 1,850 | The Avery | 29 | 1,850 | ||||||||||||||||||||||
Digital.AI Software Holdings, Inc. | 718 | 898 | ||||||||||||||||||||||||||
Thermacell Repellents, Inc. | 583 | 833 | ||||||||||||||||||||||||||
GKD Index Partners, LLC | 320 | 320 | ||||||||||||||||||||||||||
CircusTrix Holdings, LLC | 30 | 37 | ||||||||||||||||||||||||||
Gulf Operating, LLC | Gulf Operating, LLC | — | 10,064 | Gulf Operating, LLC | — | 10,064 | ||||||||||||||||||||||
Coty Inc. | Coty Inc. | — | 9,886 | |||||||||||||||||||||||||
Sunland Asphalt & Construction, LLC | Sunland Asphalt & Construction, LLC | — | 6,492 | |||||||||||||||||||||||||
Olaplex, Inc. | Olaplex, Inc. | — | 4,806 | |||||||||||||||||||||||||
Pingora MSR Opportunity Fund I-A, LP | Pingora MSR Opportunity Fund I-A, LP | — | 3,500 | |||||||||||||||||||||||||
SIO2 Medical Products, Inc. | SIO2 Medical Products, Inc. | — | 3,406 | SIO2 Medical Products, Inc. | — | 3,406 | ||||||||||||||||||||||
SumUp Holdings Luxembourg S.À.R.L. | SumUp Holdings Luxembourg S.À.R.L. | — | 3,350 | SumUp Holdings Luxembourg S.À.R.L. | — | 3,350 | ||||||||||||||||||||||
4 Over International, LLC | 4 Over International, LLC | — | 2,300 | 4 Over International, LLC | — | 2,300 | ||||||||||||||||||||||
Ministry Brands, LLC | Ministry Brands, LLC | — | 1,100 | |||||||||||||||||||||||||
CircusTrix Holdings, LLC | CircusTrix Holdings, LLC | — | 37 | |||||||||||||||||||||||||
Total | Total | $ | 295,346 | $ | 264,904 | Total | $ | 243,820 | $ | 264,904 |
Portfolio Company/Type of Investment (1) | Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value as of October 1, 2021 | Gross Additions (3) | Gross Reductions (4) | Fair Value as of December 31, 2021 | % of Total Net Assets | Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value as of October 1, 2021 | Gross Additions (3) | Gross Reductions (4) | Fair Value as of March 31, 2022 | % of Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Control Investments | Control Investments | Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | C5 Technology Holdings, LLC | Data Processing & Outsourced Services | C5 Technology Holdings, LLC | Data Processing & Outsourced Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
829 Common Units | 829 Common Units | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | — | % | 829 Common Units | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
34,984,460.37 Preferred Units | 34,984,460.37 Preferred Units | — | — | 27,638 | — | — | 27,638 | 2.1 | % | 34,984,460.37 Preferred Units | — | — | 27,638 | — | — | 27,638 | 2.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Dominion Diagnostics, LLC | Health Care Services | Dominion Diagnostics, LLC | Health Care Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 23,201 | — | 430 | 27,381 | — | (4,180) | 23,201 | 1.8 | % | First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.01 | % | $ | 23,201 | — | 790 | 27,381 | — | (4,180) | 23,201 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | — | — | 14 | — | — | — | — | — | % | First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | — | — | 28 | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | 30,030.8 Common Units in DD Healthcare Services Holdings, LLC | — | 3,308 | 18,065 | — | — | 18,065 | 1.4 | % | 30,030.8 Common Units in DD Healthcare Services Holdings, LLC | — | 3,308 | 18,065 | — | (6,953) | 11,112 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Star Speir Aviation Limited (5) | First Star Speir Aviation Limited (5) | Airlines | First Star Speir Aviation Limited (5) | Airlines | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2025 | First Lien Term Loan, 9.00% cash due 12/15/2025 | — | 7,500 | — | 7,500 | — | (7,500) | — | — | % | First Lien Term Loan, 9.00% cash due 12/15/2025 | — | 7,500 | — | 7,500 | — | (7,500) | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
100% equity interest | 100% equity interest | (5,632) | 158 | 698 | — | (698) | — | — | % | 100% equity interest | (5,632) | 158 | 698 | — | (698) | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OCSI Glick JV LLC (6) | OCSI Glick JV LLC (6) | Multi-Sector Holdings | OCSI Glick JV LLC (6) | Multi-Sector Holdings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | 4.58 | % | 61,237 | — | 1,081 | 55,582 | 745 | (473) | 55,854 | 4.2 | % | Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | 4.60 | % | 60,887 | — | 2,128 | 55,582 | 890 | (823) | 55,649 | 4.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% equity interest | 87.5% equity interest | — | — | — | — | — | — | — | % | 87.5% equity interest | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (7) | Senior Loan Fund JV I, LLC (7) | Multi-Sector Holdings | Senior Loan Fund JV I, LLC (7) | Multi-Sector Holdings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 8.00 | % | 96,250 | — | 1,967 | 96,250 | — | — | 96,250 | 7.3 | % | Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 8.00 | % | 96,250 | — | 3,893 | 96,250 | — | — | 96,250 | 7.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% LLC equity interest | 87.5% LLC equity interest | — | 451 | 37,651 | 810 | — | 38,461 | 2.9 | % | 87.5% LLC equity interest | — | 1,151 | 37,651 | — | (921) | 36,730 | 2.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments | Total Control Investments | $ | 180,688 | $ | 1,868 | $ | 7,409 | $ | 270,765 | $ | 1,555 | $ | (12,851) | $ | 259,469 | 19.6 | % | Total Control Investments | $ | 180,338 | $ | 1,868 | $ | 11,456 | $ | 270,765 | $ | 890 | $ | (21,075) | $ | 250,580 | 18.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affiliate Investments | Affiliate Investments | Affiliate Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Assembled Brands Capital LLC | Specialized Finance | Assembled Brands Capital LLC | Specialized Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.75% cash due 10/17/2023 | First Lien Revolver, LIBOR+6.75% cash due 10/17/2023 | 7.75 | % | $ | 15,982 | $ | — | $ | 339 | $ | 15,712 | $ | 3,499 | $ | (3,487) | $ | 15,724 | 1.2 | % | First Lien Revolver, LIBOR+6.75% cash due 10/17/2023 | 7.76 | % | $ | 18,242 | $ | — | $ | 710 | $ | 15,712 | $ | 7,594 | $ | (5,368) | $ | 17,938 | 1.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,609,201 Class A Units | 1,609,201 Class A Units | — | — | 587 | — | (201) | 386 | — | % | 1,609,201 Class A Units | — | — | 587 | — | (185) | 402 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | 1,019,168.80 Preferred Units, 6% | — | — | 1,152 | 20 | — | 1,172 | 0.1 | % | 1,019,168.80 Preferred Units, 6% | — | — | 1,152 | 30 | — | 1,182 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | 70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | — | — | — | — | — | % | 70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Caregiver Services, Inc. | Health Care Services | Caregiver Services, Inc. | Health Care Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | 1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 838 | — | — | 838 | 0.1 | % | 1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 838 | — | (116) | 722 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments | Total Affiliate Investments | $ | 15,982 | $ | — | $ | 339 | $ | 18,289 | $ | 3,519 | $ | (3,688) | $ | 18,120 | 1.4 | % | Total Affiliate Investments | $ | 18,242 | $ | — | $ | 710 | $ | 18,289 | $ | 7,624 | $ | (5,669) | $ | 20,244 | 1.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control & Affiliate Investments | Total Control & Affiliate Investments | $ | 196,670 | $ | 1,868 | $ | 7,748 | $ | 289,054 | $ | 5,074 | $ | (16,539) | $ | 277,589 | 21.0 | % | Total Control & Affiliate Investments | $ | 198,580 | $ | 1,868 | $ | 12,166 | $ | 289,054 | $ | 8,514 | $ | (26,744) | $ | 270,824 | 20.3 | % |
Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value as of October 1, 2020 | Gross Additions (3) | Gross Reductions (4) | Fair Value as of December 31, 2020 | % of Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||
34,984,460.37 Preferred Units | — | — | 27,638 | — | — | 27,638 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 27,590 | — | 437 | 27,660 | — | (70) | 27,590 | 2.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | 7,699 | — | 111 | 5,260 | 2,439 | — | 7,699 | 0.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | — | — | 7,667 | — | — | 7,667 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Star Speir Aviation Limited (5) | Airlines | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2025 | 7,500 | — | 130 | 11,510 | — | (4,010) | 7,500 | 0.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
100% equity interest | — | — | 1,622 | 2,204 | (2,145) | 1,681 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 2,154 | — | 37 | 1,800 | 33 | (150) | 1,683 | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | 6.00 | % | 1,009 | — | 17 | 788 | — | — | 788 | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (6) | Multi-Sector Holdings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 7.14 | % | 96,250 | — | 1,756 | 96,250 | — | — | 96,250 | 10.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% LLC equity interest | — | — | 21,190 | 8,074 | — | 29,264 | 3.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments | $ | 142,202 | $ | — | $ | 2,488 | $ | 201,385 | $ | 12,750 | $ | (6,375) | $ | 207,760 | 21.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/17/2023 | 7.00 | % | $ | 7,440 | $ | — | $ | 110 | $ | 4,194 | $ | 2,755 | $ | — | $ | 6,949 | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||||
1,609,201 Class A Units | — | — | 483 | — | (65) | 418 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | — | — | 1,091 | 10 | — | 1,101 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 741 | — | (238) | 503 | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments | $ | 7,440 | $ | — | $ | 110 | $ | 6,509 | $ | 2,765 | $ | (303) | $ | 8,971 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total Control & Affiliate Investments | $ | 149,642 | $ | — | $ | 2,598 | $ | 207,894 | $ | 15,515 | $ | (6,678) | $ | 216,731 | 22.5 | % |
Portfolio Company/Type of Investment (1) | Cash Interest Rate | Industry | Principal | Net Realized Gain (Loss) | Amount of Interest, Fees or Dividends Credited in Income (2) | Fair Value as of October 1, 2020 | Gross Additions (3) | Gross Reductions (4) | Fair Value as of March 31, 2021 | % of Total Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C5 Technology Holdings, LLC | Data Processing & Outsourced Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
829 Common Units | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||
34,984,460.37 Preferred Units | — | — | 27,638 | — | — | 27,638 | 2.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Diagnostics, LLC | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | $ | 27,520 | — | 863 | 27,660 | — | (140) | 27,520 | 2.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024 | 6.00 | % | 3,518 | — | 224 | 5,260 | 2,439 | (4,181) | 3,518 | 0.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
30,030.8 Common Units in DD Healthcare Services Holdings, LLC | — | — | 7,667 | 10,399 | — | 18,066 | 1.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Star Speir Aviation Limited (5) | Airlines | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, 9.00% cash due 12/15/2025 | 7,500 | — | 339 | 11,510 | — | (4,010) | 7,500 | 0.6 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
100% equity interest | — | — | 1,622 | 1,013 | (2,153) | 482 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
New IPT, Inc. | Oil & Gas Equipment & Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Term Loan, LIBOR+5.00% cash due 3/17/2021 | — | — | 42 | 1,800 | 504 | (2,304) | — | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+5.00% cash due 3/17/2021 | — | — | 17 | 788 | 221 | (1,009) | — | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
50.087 Class A Common Units in New IPT Holdings, LLC | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
OCSI Glick JV LLC (6) | Multi-Sector Holdings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028 | 4.64 | % | 62,821 | — | 130 | — | 54,614 | — | 54,614 | 4.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% equity interest | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Loan Fund JV I, LLC (7) | Multi-Sector Holdings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028 | 7.14 | % | 96,250 | — | 3,474 | 96,250 | — | — | 96,250 | 7.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
87.5% LLC equity interest | — | — | 21,190 | 12,974 | — | 34,164 | 2.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Control Investments | $ | 197,609 | $ | — | $ | 5,089 | $ | 201,385 | $ | 82,164 | $ | (13,797) | $ | 269,752 | 21.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Affiliate Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assembled Brands Capital LLC | Specialized Finance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Lien Revolver, LIBOR+6.00% cash due 10/17/2023 | 7.00 | % | $ | 9,274 | $ | — | $ | 258 | $ | 4,194 | $ | 5,264 | $ | (510) | $ | 8,948 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||
1,609,201 Class A Units | — | — | 483 | 145 | — | 628 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,019,168.80 Preferred Units, 6% | — | — | 1,091 | 30 | — | 1,121 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029 | — | — | — | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Caregiver Services, Inc. | Health Care Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,080,399 shares of Series A Preferred Stock, 10% | — | — | — | 741 | — | (238) | 503 | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Affiliate Investments | $ | 9,274 | $ | — | $ | 258 | $ | 6,509 | $ | 5,439 | $ | (748) | $ | 11,200 | 0.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total Control & Affiliate Investments | $ | 206,883 | $ | — | $ | 5,347 | $ | 207,894 | $ | 87,603 | $ | (14,545) | $ | 280,952 | 22.0 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Cost: | Cost: | Cost: | ||||||||||||||||||||||||||
Senior secured debt | Senior secured debt | 86.94 | % | 85.85 | % | Senior secured debt | 85.67 | % | 85.85 | % | ||||||||||||||||||
Debt investments in the JVs | Debt investments in the JVs | 5.70 | 5.79 | Debt investments in the JVs | 5.52 | 5.79 | ||||||||||||||||||||||
Preferred equity | Preferred equity | 2.60 | 2.60 | Preferred equity | 3.19 | 2.60 | ||||||||||||||||||||||
Subordinated debt | Subordinated debt | 2.05 | 1.67 | |||||||||||||||||||||||||
LLC equity interests of the JVs | LLC equity interests of the JVs | 1.92 | 1.94 | LLC equity interests of the JVs | 1.85 | 1.94 | ||||||||||||||||||||||
Common equity and warrants | Common equity and warrants | 1.82 | 2.15 | Common equity and warrants | 1.72 | 2.15 | ||||||||||||||||||||||
Subordinated debt | 1.02 | 1.67 | ||||||||||||||||||||||||||
Total | Total | 100.00 | % | 100.00 | % | Total | 100.00 | % | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Fair value: | Fair value: | Fair value: | ||||||||||||||||||||||||||
Senior secured debt | Senior secured debt | 87.43 | % | 86.72 | % | Senior secured debt | 86.36 | % | 86.72 | % | ||||||||||||||||||
Debt investments in the JVs | Debt investments in the JVs | 5.88 | 5.94 | Debt investments in the JVs | 5.74 | 5.94 | ||||||||||||||||||||||
Preferred equity | Preferred equity | 2.53 | 2.49 | Preferred equity | 3.19 | 2.49 | ||||||||||||||||||||||
Subordinated debt | Subordinated debt | 2.05 | 1.67 | |||||||||||||||||||||||||
LLC equity interests of the JVs | LLC equity interests of the JVs | 1.39 | 1.47 | |||||||||||||||||||||||||
Common equity and warrants | Common equity and warrants | 1.63 | 1.71 | Common equity and warrants | 1.27 | 1.71 | ||||||||||||||||||||||
LLC equity interests of the JVs | 1.49 | 1.47 | ||||||||||||||||||||||||||
Subordinated debt | 1.04 | 1.67 | ||||||||||||||||||||||||||
Total | Total | 100.00 | % | 100.00 | % | Total | 100.00 | % | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Cost: | Cost: | Cost: | ||||||||||||||||||||||||||
Application Software | Application Software | 16.04 | % | 14.49 | % | Application Software | 15.35 | % | 14.49 | % | ||||||||||||||||||
Multi-Sector Holdings (1) | Multi-Sector Holdings (1) | 7.62 | 7.73 | Multi-Sector Holdings (1) | 7.38 | 7.73 | ||||||||||||||||||||||
Pharmaceuticals | Pharmaceuticals | 5.37 | 5.44 | Pharmaceuticals | 5.15 | 5.44 | ||||||||||||||||||||||
Data Processing & Outsourced Services | Data Processing & Outsourced Services | 4.68 | 4.74 | Data Processing & Outsourced Services | 4.53 | 4.74 | ||||||||||||||||||||||
Biotechnology | Biotechnology | 4.49 | 4.41 | Biotechnology | 4.41 | 4.41 | ||||||||||||||||||||||
Personal Products | 4.00 | 4.08 | ||||||||||||||||||||||||||
Industrial Machinery | Industrial Machinery | 3.39 | 3.47 | Industrial Machinery | 3.44 | 3.47 | ||||||||||||||||||||||
Health Care Services | Health Care Services | 3.05 | 3.34 | Health Care Services | 3.17 | 3.34 | ||||||||||||||||||||||
Health Care Technology | Health Care Technology | 2.77 | 0.55 | |||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 2.68 | 2.66 | |||||||||||||||||||||||||
Specialized Finance | Specialized Finance | 2.66 | 2.70 | Specialized Finance | 2.65 | 2.70 | ||||||||||||||||||||||
Aerospace & Defense | 2.64 | 2.66 | ||||||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | Fertilizers & Agricultural Chemicals | 2.60 | 2.63 | Fertilizers & Agricultural Chemicals | 2.42 | 2.63 | ||||||||||||||||||||||
Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | 2.45 | 2.45 | Internet & Direct Marketing Retail | 2.37 | 2.45 | ||||||||||||||||||||||
Construction & Engineering | Construction & Engineering | 2.39 | 2.44 | Construction & Engineering | 2.31 | 2.44 | ||||||||||||||||||||||
Internet Services & Infrastructure | Internet Services & Infrastructure | 2.07 | 1.85 | Internet Services & Infrastructure | 2.01 | 1.85 | ||||||||||||||||||||||
Automotive Retail | Automotive Retail | 2.00 | 1.65 | |||||||||||||||||||||||||
Personal Products | Personal Products | 1.98 | 4.08 | |||||||||||||||||||||||||
Home Improvement Retail | Home Improvement Retail | 1.80 | 1.83 | Home Improvement Retail | 1.73 | 1.83 | ||||||||||||||||||||||
Metal & Glass Containers | Metal & Glass Containers | 1.73 | 0.69 | |||||||||||||||||||||||||
Airport Services | Airport Services | 1.63 | 1.64 | Airport Services | 1.60 | 1.64 | ||||||||||||||||||||||
Automotive Retail | 1.63 | 1.65 | ||||||||||||||||||||||||||
Health Care Distributors | Health Care Distributors | 1.56 | 0.78 | |||||||||||||||||||||||||
Leisure Facilities | Leisure Facilities | 1.61 | 0.99 | Leisure Facilities | 1.56 | 0.99 | ||||||||||||||||||||||
Real Estate Services | Real Estate Services | 1.57 | 1.59 | Real Estate Services | 1.52 | 1.59 | ||||||||||||||||||||||
Diversified Support Services | Diversified Support Services | 1.46 | 1.60 | |||||||||||||||||||||||||
Specialty Chemicals | Specialty Chemicals | 1.55 | 1.84 | Specialty Chemicals | 1.40 | 1.84 | ||||||||||||||||||||||
Diversified Support Services | 1.51 | 1.60 | ||||||||||||||||||||||||||
Oil & Gas Storage & Transportation | Oil & Gas Storage & Transportation | 1.44 | 1.44 | Oil & Gas Storage & Transportation | 1.38 | 1.44 | ||||||||||||||||||||||
Health Care Supplies | Health Care Supplies | 1.39 | 1.17 | Health Care Supplies | 1.35 | 1.17 | ||||||||||||||||||||||
Insurance Brokers | Insurance Brokers | 1.39 | 1.00 | Insurance Brokers | 1.34 | 1.00 | ||||||||||||||||||||||
Soft Drinks | Soft Drinks | 1.32 | 1.32 | Soft Drinks | 1.28 | 1.32 | ||||||||||||||||||||||
Electrical Components & Equipment | Electrical Components & Equipment | 1.25 | 1.27 | Electrical Components & Equipment | 1.24 | 1.27 | ||||||||||||||||||||||
Integrated Telecommunication Services | Integrated Telecommunication Services | 1.11 | 1.85 | |||||||||||||||||||||||||
Real Estate Operating Companies | Real Estate Operating Companies | 1.09 | 1.08 | |||||||||||||||||||||||||
Other Diversified Financial Services | Other Diversified Financial Services | 1.08 | 0.63 | |||||||||||||||||||||||||
Advertising | Advertising | 1.09 | 1.13 | Advertising | 1.05 | 1.13 | ||||||||||||||||||||||
Oil & Gas Refining & Marketing | Oil & Gas Refining & Marketing | 1.08 | 1.42 | Oil & Gas Refining & Marketing | 1.04 | 1.42 | ||||||||||||||||||||||
Integrated Telecommunication Services | 1.04 | 1.85 | ||||||||||||||||||||||||||
Movies & Entertainment | Movies & Entertainment | 1.01 | 1.02 | Movies & Entertainment | 0.98 | 1.02 | ||||||||||||||||||||||
Airlines | Airlines | 0.97 | 0.88 | |||||||||||||||||||||||||
Distributors | Distributors | 0.99 | — | Distributors | 0.95 | — | ||||||||||||||||||||||
Real Estate Operating Companies | 0.97 | 1.08 | ||||||||||||||||||||||||||
Health Care Technology | 0.96 | 0.55 | ||||||||||||||||||||||||||
Health Care Equipment | Health Care Equipment | 0.93 | 0.93 | Health Care Equipment | 0.90 | 0.93 | ||||||||||||||||||||||
Airlines | 0.83 | 0.88 | ||||||||||||||||||||||||||
Metal & Glass Containers | 0.82 | 0.69 | ||||||||||||||||||||||||||
Health Care Distributors | 0.76 | 0.78 | ||||||||||||||||||||||||||
Environmental & Facilities Services | Environmental & Facilities Services | 0.74 | — | |||||||||||||||||||||||||
Home Furnishings | Home Furnishings | 0.76 | 0.77 | Home Furnishings | 0.73 | 0.77 | ||||||||||||||||||||||
Other Diversified Financial Services | 0.76 | 0.63 | ||||||||||||||||||||||||||
Independent Power Producers & Energy Traders | 0.76 | 0.92 | ||||||||||||||||||||||||||
Cable & Satellite | Cable & Satellite | 0.71 | 1.05 | Cable & Satellite | 0.68 | 1.05 | ||||||||||||||||||||||
Thrifts & Mortgage Finance | 0.62 | 0.63 | ||||||||||||||||||||||||||
Consumer Finance | Consumer Finance | 0.54 | — | |||||||||||||||||||||||||
Systems Software | Systems Software | 0.48 | 0.26 | |||||||||||||||||||||||||
Auto Parts & Equipment | Auto Parts & Equipment | 0.48 | 0.49 | Auto Parts & Equipment | 0.47 | 0.49 | ||||||||||||||||||||||
IT Consulting & Other Services | IT Consulting & Other Services | 0.44 | 0.30 | |||||||||||||||||||||||||
Air Freight & Logistics | Air Freight & Logistics | 0.38 | 0.19 | Air Freight & Logistics | 0.36 | 0.19 | ||||||||||||||||||||||
Restaurants | Restaurants | 0.36 | 0.37 | Restaurants | 0.35 | 0.37 | ||||||||||||||||||||||
IT Consulting & Other Services | 0.29 | 0.30 | ||||||||||||||||||||||||||
Leisure Products | Leisure Products | 0.27 | 0.26 | |||||||||||||||||||||||||
Alternative Carriers | Alternative Carriers | 0.21 | 0.26 | |||||||||||||||||||||||||
Trading Companies & Distributors | Trading Companies & Distributors | 0.20 | — | |||||||||||||||||||||||||
Research & Consulting Services | Research & Consulting Services | 0.29 | 0.29 | Research & Consulting Services | 0.20 | 0.29 | ||||||||||||||||||||||
Property & Casualty Insurance | 0.27 | 0.39 | ||||||||||||||||||||||||||
Leisure Products | 0.27 | 0.26 | ||||||||||||||||||||||||||
Systems Software | 0.26 | 0.26 | ||||||||||||||||||||||||||
Environmental & Facilities Services | 0.21 | — | ||||||||||||||||||||||||||
Apparel, Accessories & Luxury Goods | Apparel, Accessories & Luxury Goods | 0.20 | 0.20 | Apparel, Accessories & Luxury Goods | 0.19 | 0.20 | ||||||||||||||||||||||
Integrated Oil & Gas | Integrated Oil & Gas | 0.19 | 0.19 | Integrated Oil & Gas | 0.18 | 0.19 | ||||||||||||||||||||||
Alternative Carriers | 0.18 | 0.26 | ||||||||||||||||||||||||||
Food Distributors | Food Distributors | 0.18 | 0.18 | Food Distributors | 0.17 | 0.18 | ||||||||||||||||||||||
Apparel Retail | Apparel Retail | 0.17 | — | Apparel Retail | 0.17 | — | ||||||||||||||||||||||
Housewares & Specialties | Housewares & Specialties | 0.14 | 0.07 | |||||||||||||||||||||||||
Diversified Banks | Diversified Banks | 0.14 | 0.14 | Diversified Banks | 0.13 | 0.14 | ||||||||||||||||||||||
Technology Distributors | Technology Distributors | 0.12 | 0.12 | Technology Distributors | 0.12 | 0.12 | ||||||||||||||||||||||
Food Retail | 0.10 | 0.15 | ||||||||||||||||||||||||||
Construction Materials | Construction Materials | 0.09 | 0.09 | Construction Materials | 0.09 | 0.09 | ||||||||||||||||||||||
Electronic Components | Electronic Components | 0.08 | 0.40 | Electronic Components | 0.08 | 0.40 | ||||||||||||||||||||||
Housewares & Specialties | 0.07 | 0.07 | ||||||||||||||||||||||||||
Specialized REITs | Specialized REITs | 0.05 | — | |||||||||||||||||||||||||
Education Services | Education Services | 0.04 | 0.04 | Education Services | 0.04 | 0.04 | ||||||||||||||||||||||
Communications Equipment | Communications Equipment | 0.03 | — | |||||||||||||||||||||||||
Independent Power Producers & Energy Traders | Independent Power Producers & Energy Traders | — | 0.92 | |||||||||||||||||||||||||
Commercial Printing | Commercial Printing | — | 0.78 | Commercial Printing | — | 0.78 | ||||||||||||||||||||||
Managed Health Care | Managed Health Care | — | 0.73 | Managed Health Care | — | 0.73 | ||||||||||||||||||||||
Thrifts & Mortgage Finance | Thrifts & Mortgage Finance | — | 0.63 | |||||||||||||||||||||||||
Property & Casualty Insurance | Property & Casualty Insurance | — | 0.39 | |||||||||||||||||||||||||
Food Retail | Food Retail | — | 0.15 | |||||||||||||||||||||||||
Total | Total | 100.00 | % | 100.00 | % | Total | 100.00 | % | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||
Fair value: | Fair value: | Fair value: | ||||||||||||||||||||||||||
Application Software | Application Software | 16.20 | % | 14.58 | % | Application Software | 15.44 | % | 14.58 | % | ||||||||||||||||||
Multi-Sector Holdings (1) | Multi-Sector Holdings (1) | 7.36 | 7.41 | Multi-Sector Holdings (1) | 7.13 | 7.41 | ||||||||||||||||||||||
Pharmaceuticals | Pharmaceuticals | 5.43 | 5.56 | Pharmaceuticals | 5.15 | 5.56 | ||||||||||||||||||||||
Biotechnology | Biotechnology | 4.53 | 4.44 | Biotechnology | 4.46 | 4.44 | ||||||||||||||||||||||
Data Processing & Outsourced Services | Data Processing & Outsourced Services | 4.39 | 4.46 | Data Processing & Outsourced Services | 4.27 | 4.46 | ||||||||||||||||||||||
Personal Products | 4.07 | 4.13 | ||||||||||||||||||||||||||
Industrial Machinery | Industrial Machinery | 3.42 | 3.53 | Industrial Machinery | 3.47 | 3.53 | ||||||||||||||||||||||
Health Care Services | Health Care Services | 3.10 | 3.31 | Health Care Services | 2.97 | 3.31 | ||||||||||||||||||||||
Health Care Technology | Health Care Technology | 2.80 | 0.55 | |||||||||||||||||||||||||
Aerospace & Defense | Aerospace & Defense | 2.74 | 2.72 | |||||||||||||||||||||||||
Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | 2.71 | 2.68 | Internet & Direct Marketing Retail | 2.67 | 2.68 | ||||||||||||||||||||||
Aerospace & Defense | 2.70 | 2.72 | ||||||||||||||||||||||||||
Specialized Finance | Specialized Finance | 2.64 | 2.69 | Specialized Finance | 2.63 | 2.69 | ||||||||||||||||||||||
Fertilizers & Agricultural Chemicals | Fertilizers & Agricultural Chemicals | 2.62 | 2.64 | Fertilizers & Agricultural Chemicals | 2.47 | 2.64 | ||||||||||||||||||||||
Construction & Engineering | Construction & Engineering | 2.42 | 2.47 | Construction & Engineering | 2.35 | 2.47 | ||||||||||||||||||||||
Internet Services & Infrastructure | Internet Services & Infrastructure | 2.10 | 1.87 | Internet Services & Infrastructure | 2.06 | 1.87 | ||||||||||||||||||||||
Automotive Retail | Automotive Retail | 2.05 | 1.65 | |||||||||||||||||||||||||
Personal Products | Personal Products | 2.02 | 4.13 | |||||||||||||||||||||||||
Home Improvement Retail | Home Improvement Retail | 1.78 | 1.82 | Home Improvement Retail | 1.75 | 1.82 | ||||||||||||||||||||||
Automotive Retail | 1.71 | 1.65 | ||||||||||||||||||||||||||
Metal & Glass Containers | Metal & Glass Containers | 1.74 | 0.68 | |||||||||||||||||||||||||
Health Care Distributors | Health Care Distributors | 1.58 | 0.77 | |||||||||||||||||||||||||
Airport Services | Airport Services | 1.59 | 1.59 | Airport Services | 1.57 | 1.59 | ||||||||||||||||||||||
Real Estate Services | Real Estate Services | 1.58 | 1.61 | Real Estate Services | 1.54 | 1.61 | ||||||||||||||||||||||
Leisure Facilities | Leisure Facilities | 1.50 | 0.90 | |||||||||||||||||||||||||
Diversified Support Services | Diversified Support Services | 1.51 | 1.60 | Diversified Support Services | 1.48 | 1.60 | ||||||||||||||||||||||
Leisure Facilities | 1.50 | 0.90 | ||||||||||||||||||||||||||
Specialty Chemicals | 1.50 | 1.82 | ||||||||||||||||||||||||||
Insurance Brokers | Insurance Brokers | 1.47 | 1.08 | Insurance Brokers | 1.41 | 1.08 | ||||||||||||||||||||||
Health Care Supplies | Health Care Supplies | 1.40 | 1.18 | Health Care Supplies | 1.37 | 1.18 | ||||||||||||||||||||||
Specialty Chemicals | Specialty Chemicals | 1.36 | 1.82 | |||||||||||||||||||||||||
Soft Drinks | Soft Drinks | 1.31 | 1.31 | Soft Drinks | 1.28 | 1.31 | ||||||||||||||||||||||
Oil & Gas Storage & Transportation | Oil & Gas Storage & Transportation | 1.31 | 1.35 | Oil & Gas Storage & Transportation | 1.27 | 1.35 | ||||||||||||||||||||||
Electrical Components & Equipment | Electrical Components & Equipment | 1.24 | 1.26 | Electrical Components & Equipment | 1.22 | 1.26 | ||||||||||||||||||||||
Integrated Telecommunication Services | Integrated Telecommunication Services | 1.17 | 1.94 | |||||||||||||||||||||||||
Real Estate Operating Companies | Real Estate Operating Companies | 1.12 | 1.11 | |||||||||||||||||||||||||
Advertising | Advertising | 1.15 | 1.19 | Advertising | 1.09 | 1.19 | ||||||||||||||||||||||
Integrated Telecommunication Services | 1.10 | 1.94 | ||||||||||||||||||||||||||
Oil & Gas Refining & Marketing | Oil & Gas Refining & Marketing | 1.08 | 1.43 | Oil & Gas Refining & Marketing | 1.06 | 1.43 | ||||||||||||||||||||||
Other Diversified Financial Services | Other Diversified Financial Services | 1.05 | 0.62 | |||||||||||||||||||||||||
Movies & Entertainment | Movies & Entertainment | 1.04 | 1.06 | Movies & Entertainment | 1.02 | 1.06 | ||||||||||||||||||||||
Real Estate Operating Companies | 1.00 | 1.11 | ||||||||||||||||||||||||||
Airlines | Airlines | 0.98 | 0.96 | |||||||||||||||||||||||||
Distributors | Distributors | 0.99 | — | Distributors | 0.96 | — | ||||||||||||||||||||||
Health Care Technology | 0.97 | 0.55 | ||||||||||||||||||||||||||
Health Care Equipment | Health Care Equipment | 0.92 | 0.93 | Health Care Equipment | 0.90 | 0.93 | ||||||||||||||||||||||
Airlines | 0.83 | 0.96 | ||||||||||||||||||||||||||
Metal & Glass Containers | 0.82 | 0.68 | ||||||||||||||||||||||||||
Home Furnishings | Home Furnishings | 0.76 | 0.77 | Home Furnishings | 0.74 | 0.77 | ||||||||||||||||||||||
Independent Power Producers & Energy Traders | 0.76 | 0.92 | ||||||||||||||||||||||||||
Health Care Distributors | 0.76 | 0.77 | ||||||||||||||||||||||||||
Other Diversified Financial Services | 0.73 | 0.62 | ||||||||||||||||||||||||||
Environmental & Facilities Services | Environmental & Facilities Services | 0.74 | — | |||||||||||||||||||||||||
Cable & Satellite | Cable & Satellite | 0.72 | 1.06 | Cable & Satellite | 0.69 | 1.06 | ||||||||||||||||||||||
Thrifts & Mortgage Finance | 0.61 | 0.62 | ||||||||||||||||||||||||||
Consumer Finance | Consumer Finance | 0.55 | — | |||||||||||||||||||||||||
Systems Software | Systems Software | 0.47 | 0.26 | |||||||||||||||||||||||||
Auto Parts & Equipment | Auto Parts & Equipment | 0.48 | 0.48 | Auto Parts & Equipment | 0.47 | 0.48 | ||||||||||||||||||||||
IT Consulting & Other Services | IT Consulting & Other Services | 0.43 | 0.29 | |||||||||||||||||||||||||
Air Freight & Logistics | Air Freight & Logistics | 0.38 | 0.19 | Air Freight & Logistics | 0.37 | 0.19 | ||||||||||||||||||||||
Restaurants | Restaurants | 0.36 | 0.37 | Restaurants | 0.35 | 0.37 | ||||||||||||||||||||||
Leisure Products | Leisure Products | 0.27 | 0.26 | |||||||||||||||||||||||||
Alternative Carriers | Alternative Carriers | 0.22 | 0.27 | |||||||||||||||||||||||||
Research & Consulting Services | Research & Consulting Services | 0.29 | 0.30 | Research & Consulting Services | 0.20 | 0.30 | ||||||||||||||||||||||
IT Consulting & Other Services | 0.28 | 0.29 | ||||||||||||||||||||||||||
Property & Casualty Insurance | 0.27 | 0.39 | ||||||||||||||||||||||||||
Leisure Products | 0.26 | 0.26 | ||||||||||||||||||||||||||
Systems Software | 0.26 | 0.26 | ||||||||||||||||||||||||||
Environmental & Facilities Services | 0.21 | — | ||||||||||||||||||||||||||
Alternative Carriers | 0.19 | 0.27 | ||||||||||||||||||||||||||
Trading Companies & Distributors | Trading Companies & Distributors | 0.19 | — | |||||||||||||||||||||||||
Integrated Oil & Gas | Integrated Oil & Gas | 0.19 | 0.19 | Integrated Oil & Gas | 0.19 | 0.19 | ||||||||||||||||||||||
Food Distributors | Food Distributors | 0.18 | 0.18 | Food Distributors | 0.17 | 0.18 | ||||||||||||||||||||||
Apparel Retail | Apparel Retail | 0.17 | — | Apparel Retail | 0.17 | — | ||||||||||||||||||||||
Housewares & Specialties | Housewares & Specialties | 0.15 | 0.08 | |||||||||||||||||||||||||
Diversified Banks | Diversified Banks | 0.14 | 0.14 | Diversified Banks | 0.13 | 0.14 | ||||||||||||||||||||||
Technology Distributors | Technology Distributors | 0.12 | 0.12 | Technology Distributors | 0.12 | 0.12 | ||||||||||||||||||||||
Food Retail | 0.10 | 0.15 | ||||||||||||||||||||||||||
Electronic Components | Electronic Components | 0.08 | 0.40 | |||||||||||||||||||||||||
Construction Materials | Construction Materials | 0.09 | 0.09 | Construction Materials | 0.08 | 0.09 | ||||||||||||||||||||||
Electronic Components | 0.08 | 0.40 | ||||||||||||||||||||||||||
Housewares & Specialties | 0.08 | 0.08 | ||||||||||||||||||||||||||
Specialized REITs | Specialized REITs | 0.05 | — | |||||||||||||||||||||||||
Education Services | Education Services | 0.04 | 0.04 | Education Services | 0.04 | 0.04 | ||||||||||||||||||||||
Communications Equipment | Communications Equipment | 0.03 | — | |||||||||||||||||||||||||
Independent Power Producers & Energy Traders | Independent Power Producers & Energy Traders | — | 0.92 | |||||||||||||||||||||||||
Commercial Printing | Commercial Printing | — | 0.79 | Commercial Printing | — | 0.79 | ||||||||||||||||||||||
Managed Health Care | Managed Health Care | — | 0.74 | Managed Health Care | — | 0.74 | ||||||||||||||||||||||
Thrifts & Mortgage Finance | Thrifts & Mortgage Finance | — | 0.62 | |||||||||||||||||||||||||
Property & Casualty Insurance | Property & Casualty Insurance | — | 0.39 | |||||||||||||||||||||||||
Food Retail | Food Retail | — | 0.15 | |||||||||||||||||||||||||
Total | Total | 100.00 | % | 100.00 | % | Total | 100.00 | % | 100.00 | % |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||
Senior secured loans (1) | Senior secured loans (1) | $362,106 | $344,196 | Senior secured loans (1) | $362,052 | $344,196 | ||||||||||
Weighted average interest rate on senior secured loans (2) | Weighted average interest rate on senior secured loans (2) | 5.76% | 5.60% | Weighted average interest rate on senior secured loans (2) | 5.86% | 5.60% | ||||||||||
Number of borrowers in SLF JV I | Number of borrowers in SLF JV I | 61 | 55 | Number of borrowers in SLF JV I | 60 | 55 | ||||||||||
Largest exposure to a single borrower (1) | Largest exposure to a single borrower (1) | $9,813 | $9,875 | Largest exposure to a single borrower (1) | $9,750 | $9,875 | ||||||||||
Total of five largest loan exposures to borrowers (1) | Total of five largest loan exposures to borrowers (1) | $47,882 | $46,984 | Total of five largest loan exposures to borrowers (1) | $47,621 | $46,984 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||
Senior secured loans (1) | Senior secured loans (1) | $140,078 | $126,512 | Senior secured loans (1) | $141,187 | $126,512 | ||||||||||||||||
Weighted average current interest rate on senior secured loans (2) | Weighted average current interest rate on senior secured loans (2) | 6.05% | 5.86% | Weighted average current interest rate on senior secured loans (2) | 6.05% | 5.86% | ||||||||||||||||
Number of borrowers in the Glick JV | Number of borrowers in the Glick JV | 44 | 37 | Number of borrowers in the Glick JV | 44 | 37 | ||||||||||||||||
Largest loan exposure to a single borrower (1) | Largest loan exposure to a single borrower (1) | $6,820 | $6,907 | Largest loan exposure to a single borrower (1) | $6,733 | $6,907 | ||||||||||||||||
Total of five largest loan exposures to borrowers (1) | Total of five largest loan exposures to borrowers (1) | $28,283 | $28,324 | Total of five largest loan exposures to borrowers (1) | $28,141 | $28,324 |
Debt Outstanding as of September 30, 2021 | Debt Outstanding as of December 31, 2021 | Weighted average debt outstanding for the three months ended December 31, 2021 | Maximum debt outstanding for the three months ended December 31, 2021 | Debt Outstanding as of September 30, 2021 | Debt Outstanding as of March 31, 2022 | Weighted average debt outstanding for the six months ended March 31, 2022 | Maximum debt outstanding for the six months ended March 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Syndicated Facility | Syndicated Facility | $ | 495,000 | $ | 495,000 | $ | 526,793 | $ | 535,000 | Syndicated Facility | $ | 495,000 | $ | 560,000 | $ | 545,989 | $ | 620,000 | ||||||||||||||||||||||||||||||||||
Citibank Facility | Citibank Facility | 135,000 | 155,000 | 154,348 | 165,000 | Citibank Facility | 135,000 | 185,000 | 156,429 | 185,000 | ||||||||||||||||||||||||||||||||||||||||||
2025 Notes | 2025 Notes | 300,000 | 300,000 | 300,000 | 300,000 | 2025 Notes | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||||||||||||||||||||||||||||||||||
2027 Notes | 2027 Notes | 350,000 | 350,000 | 350,000 | 350,000 | 2027 Notes | 350,000 | 350,000 | 350,000 | 350,000 | ||||||||||||||||||||||||||||||||||||||||||
Total debt | Total debt | $ | 1,280,000 | $ | 1,300,000 | $ | 1,331,141 | Total debt | $ | 1,280,000 | $ | 1,395,000 | $ | 1,352,418 |
Payments due by period as of December 31, 2021 | Payments due by period as of March 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual Obligations | Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Syndicated Facility | Syndicated Facility | $ | 495,000 | $ | — | $ | — | $ | 495,000 | $ | — | Syndicated Facility | $ | 560,000 | $ | — | $ | — | $ | 560,000 | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Interest due on Syndicated Facility | Interest due on Syndicated Facility | 45,677 | 10,519 | 21,038 | 14,120 | — | Interest due on Syndicated Facility | 54,475 | 13,300 | 26,600 | 14,575 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Citibank Facility | Citibank Facility | 155,000 | — | 155,000 | — | — | Citibank Facility | 185,000 | — | 185,000 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest due on Citibank Facility | Interest due on Citibank Facility | 8,530 | 2,957 | 5,573 | — | — | Interest due on Citibank Facility | 13,149 | 4,984 | 8,165 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2025 Notes | 2025 Notes | 300,000 | — | — | 300,000 | — | 2025 Notes | 300,000 | — | 300,000 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest due on 2025 Notes | Interest due on 2025 Notes | 33,140 | 10,500 | 21,000 | 1,640 | — | Interest due on 2025 Notes | 30,551 | 10,500 | 20,051 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2027 Notes | 2027 Notes | 350,000 | — | — | — | 350,000 | 2027 Notes | 350,000 | — | — | 350,000 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest due on 2027 Notes (a) | Interest due on 2027 Notes (a) | 31,454 | 6,236 | 12,472 | 12,472 | 274 | Interest due on 2027 Notes (a) | 31,890 | 6,648 | 13,295 | 11,947 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,418,801 | $ | 30,212 | $ | 215,083 | $ | 823,232 | $ | 350,274 | Total | $ | 1,525,065 | $ | 35,432 | $ | 553,111 | $ | 936,522 | $ | — |
Number of Shares Issued | Gross Proceeds | Placement Agent Fees | Net Proceeds (1) | Average Sales Price per Share (2) | ||||||||||||||||||||||||||||
"At the market" offering | 2,632,260 | $ | 19,794 | $ | 198 | $ | 19,596 | $ | 7.52 |
Date Declared | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | Date Declared | Record Date | Payment Date | Amount per Share | Cash Distribution | DRIP Shares Issued (1) | DRIP Shares Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 12, 2019 | November 12, 2019 | December 13, 2019 | December 31, 2019 | $ | 0.095 | $ 12.9 million | 87,747 | $ 0.5 million | November 12, 2019 | December 13, 2019 | December 31, 2019 | $ | 0.095 | $ 12.9 million | 87,747 | $ 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 31, 2020 | January 31, 2020 | March 13, 2020 | March 31, 2020 | 0.095 | 12.9 million | 157,523 | 0.5 million | January 31, 2020 | March 13, 2020 | March 31, 2020 | 0.095 | 12.9 million | 157,523 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
April 30, 2020 | April 30, 2020 | June 15, 2020 | June 30, 2020 | 0.095 | 13.0 million | 87,351 | 0.4 million | April 30, 2020 | June 15, 2020 | June 30, 2020 | 0.095 | 13.0 million | 87,351 | 0.4 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 31, 2020 | July 31, 2020 | September 15, 2020 | September 30, 2020 | 0.105 | 14.3 million | 102,404 | 0.5 million | July 31, 2020 | September 15, 2020 | September 30, 2020 | 0.105 | 14.3 million | 102,404 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 13, 2020 | November 13, 2020 | December 15, 2020 | December 31, 2020 | 0.11 | 15.0 million | 93,964 | 0.5 million | November 13, 2020 | December 15, 2020 | December 31, 2020 | 0.11 | 15.0 million | 93,964 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 29, 2021 | January 29, 2021 | March 15, 2021 | March 31, 2021 | 0.12 | 16.4 million | 81,702 | 0.5 million | January 29, 2021 | March 15, 2021 | March 31, 2021 | 0.12 | 16.4 million | 81,702 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
April 30, 2021 | April 30, 2021 | June 15, 2021 | June 30, 2021 | 0.13 | 22.9 million | 76,979 | 0.5 million | April 30, 2021 | June 15, 2021 | June 30, 2021 | 0.13 | 22.9 million | 76,979 | 0.5 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 30, 2021 | July 30, 2021 | September 15, 2021 | September 30, 2021 | 0.145 | 25.5 million | 85,075 | 0.6 million | July 30, 2021 | September 15, 2021 | September 30, 2021 | 0.145 | 25.5 million | 85,075 | 0.6 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 13, 2021 | October 13, 2021 | December 15, 2021 | December 31, 2021 | 0.155 | 27.2 million | 107,971 | 0.8 million | October 13, 2021 | December 15, 2021 | December 31, 2021 | 0.155 | 27.2 million | 107,971 | 0.8 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 28, 2022 | January 28, 2022 | March 15, 2022 | March 31, 2022 | 0.16 | 28.5 million | 104,411 | 0.8 million |
Financial Covenant | Description | Target Value | ||||||||||||||||||
Minimum shareholders' equity | Net assets shall not be less than the sum of (x) $600 million, plus (y) 50% of the aggregate net proceeds of all sales of equity interests after May 6, 2020 | $600 million | $ | |||||||||||||||||
Asset coverage ratio | Asset coverage ratio shall not be less than the greater of 1.50:1 and the statutory test applicable to us | 1.50:1 | ||||||||||||||||||
Interest coverage ratio | Interest coverage ratio shall not be less than 2.25:1 | 2.25:1 | ||||||||||||||||||
Minimum net worth | Net worth shall not be less than $550 million | $550 million | $ |
As of December 31, 2021 | As of September 30, 2021 | |||||||||||||||||||||||||
($ in millions) | 2025 Notes | 2027 Notes | 2025 Notes | 2027 Notes | ||||||||||||||||||||||
Principal | $ | 300.0 | $ | 350.0 | $ | 300.0 | $ | 350.0 | ||||||||||||||||||
Unamortized financing costs | (2.3) | (3.8) | (2.6) | (4.0) | ||||||||||||||||||||||
Unaccreted discount | (1.6) | (0.9) | (1.7) | (0.9) | ||||||||||||||||||||||
Interest rate swap fair value adjustment | — | (5.9) | — | (2.1) | ||||||||||||||||||||||
Net carrying value | $ | 296.1 | $ | 339.4 | $ | 295.7 | $ | 343.0 | ||||||||||||||||||
Fair Value | $ | 312.8 | $ | 347.4 | $ | 314.5 | $ | 351.1 |
As of March 31, 2022 | As of September 30, 2021 | |||||||||||||||||||||||||
($ in millions) | 2025 Notes | 2027 Notes | 2025 Notes | 2027 Notes | ||||||||||||||||||||||
Principal | $ | 300.0 | $ | 350.0 | $ | 300.0 | $ | 350.0 | ||||||||||||||||||
Unamortized financing costs | (2.1) | (3.6) | (2.6) | (4.0) | ||||||||||||||||||||||
Unaccreted discount | (1.5) | (0.8) | (1.7) | (0.9) | ||||||||||||||||||||||
Interest rate swap fair value adjustment | — | (23.3) | — | (2.1) | ||||||||||||||||||||||
Net carrying value | $ | 296.4 | $ | 322.3 | $ | 295.7 | $ | 343.0 | ||||||||||||||||||
Fair Value | $ | 294.9 | $ | 320.4 | $ | 314.5 | $ | 351.1 |
($ in millions) | 2025 Notes | 2027 Notes | ||||||||||||
Coupon interest | $ | 2.6 | $ | 2.4 | ||||||||||
Amortization of financing costs and discount | 0.3 | 0.2 | ||||||||||||
Effect of interest rate swap | — | (0.7) | ||||||||||||
Total interest expense | $ | 2.9 | $ | 1.9 | ||||||||||
Coupon interest rate (net of effect of interest rate swap for 2027 Notes) | 3.500 | % | 1.782 | % |
($ in millions) | 2025 Notes | 2027 Notes | |||||||||||||||||||||
Three months ended March 31, 2022 | Six months ended March 31, 2022 | Three months ended March 31, 2022 | Six months ended March 31, 2022 | ||||||||||||||||||||
Coupon interest | $ | 2.6 | $ | 5.3 | $ | 2.4 | $ | 4.8 | |||||||||||||||
Amortization of financing costs and discount | 0.3 | 0.6 | 0.2 | 0.4 | |||||||||||||||||||
Effect of interest rate swap | — | — | (0.7) | (1.5) | |||||||||||||||||||
Total interest expense | $ | 2.9 | $ | 5.9 | $ | 1.9 | $ | 3.7 | |||||||||||||||
Coupon interest rate (net of effect of interest rate swap for 2027 Notes) | 3.500 | % | 3.500 | % | 1.877 | % | 1.867 | % |
($ in millions) | 2025 Notes | ||||||||||
Three months ended March 31, 2021 | Six months ended March 31, 2021 | ||||||||||
Coupon interest | $ | 2.6 | $ | 5.3 | |||||||
Amortization of financing costs and discount | 0.3 | 0.6 | |||||||||
Total interest expense | $ | 2.9 | $ | 5.9 | |||||||
Coupon interest rate | 3.500 | % | 3.500 | % |
Year Ended | Qualified Net Interest Income | Qualified Short-Term Capital Gains | |||||||||
September 30, 2021 | 89.8 | % | — |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | ($ in thousands) | Fair Value | % of Floating Rate Portfolio | Fair Value | % of Floating Rate Portfolio | ($ in thousands) | Fair Value | % of Floating Rate Portfolio | Fair Value | % of Floating Rate Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0% | 0% | $ | 260,536 | 11.7 | % | $ | 322,222 | 14.6 | % | 0% | $ | 311,798 | 14.0 | % | $ | 322,222 | 14.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
>0% and <1% | >0% and <1% | 368,912 | 16.5 | % | 283,065 | 12.8 | % | >0% and <1% | 402,613 | 18.2 | % | 283,065 | 12.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1% | 1% | 1,510,936 | 67.5 | % | 1,507,977 | 68.4 | % | 1% | 1,435,973 | 64.8 | % | 1,507,977 | 68.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
>1% | >1% | 96,455 | 4.3 | % | 92,384 | 4.2 | % | >1% | 66,540 | 3.0 | % | 92,384 | 4.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Floating Rate Investments | Total Floating Rate Investments | $ | 2,236,839 | 100.0 | % | $ | 2,205,648 | 100.0 | % | Total Floating Rate Investments | $ | 2,216,924 | 100.0 | % | $ | 2,205,648 | 100.0 | % |
($ in thousands) | ($ in thousands) | ($ in thousands) | ||||||||||||||||||||||||||||||||||||||
Basis point increase | Basis point increase | Increase in Interest Income | (Increase) in Interest Expense | Net increase (decrease) in net assets resulting from operations | Basis point increase | Increase in Interest Income | (Increase) in Interest Expense | Net increase (decrease) in net assets resulting from operations | ||||||||||||||||||||||||||||||||
250 | 250 | $ | 41,219 | $ | (25,000) | $ | 16,219 | 250 | $ | 55,258 | $ | (27,375) | $ | 27,883 | ||||||||||||||||||||||||||
200 | 200 | 30,067 | (20,000) | 10,067 | 200 | 44,049 | (21,900) | 22,149 | ||||||||||||||||||||||||||||||||
150 | 150 | 18,993 | (15,000) | 3,993 | 150 | 32,928 | (16,425) | 16,503 | ||||||||||||||||||||||||||||||||
100 | 100 | 8,061 | (10,000) | (1,939) | 100 | 21,821 | (10,950) | 10,871 | ||||||||||||||||||||||||||||||||
50 | 50 | 1,650 | (5,000) | (3,350) | 50 | 11,087 | (5,475) | 5,612 |
December 31, 2021 | September 30, 2021 | March 31, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | ($ in thousands) | Interest Bearing Cash and Investments | Borrowings | Interest Bearing Cash and Investments | Borrowings | ($ in thousands) | Interest Bearing Cash and Investments | Borrowings | Interest Bearing Cash and Investments | Borrowings | ||||||||||||||||||||||||||||||||||||||||||
Money market rate | Money market rate | $ | 32,083 | $ | — | $ | 23,600 | $ | — | Money market rate | $ | 6,229 | $ | — | $ | 23,600 | $ | — | ||||||||||||||||||||||||||||||||||
Prime rate | Prime rate | 305 | — | 305 | 10,000 | Prime rate | — | — | 305 | 10,000 | ||||||||||||||||||||||||||||||||||||||||||
LIBOR | LIBOR | LIBOR | ||||||||||||||||||||||||||||||||||||||||||||||||||
30 day | 30 day | 715,378 | 495,000 | 674,613 | 485,000 | 30 day | 646,125 | 560,000 | 674,613 | 485,000 | ||||||||||||||||||||||||||||||||||||||||||
60 day | 2,500 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
90 day (a) | 90 day (a) | 975,208 | 505,000 | 1,037,019 | 485,000 | 90 day (a) | 996,724 | 535,000 | 1,037,019 | 485,000 | ||||||||||||||||||||||||||||||||||||||||||
180 day | 180 day | 377,829 | — | 323,869 | — | 180 day | 359,573 | — | 323,869 | — | ||||||||||||||||||||||||||||||||||||||||||
360 day | 360 day | 89,291 | — | 96,095 | — | 360 day | 43,055 | — | 96,095 | — | ||||||||||||||||||||||||||||||||||||||||||
EURIBOR | EURIBOR | EURIBOR | ||||||||||||||||||||||||||||||||||||||||||||||||||
30 day | 30 day | 28,246 | — | 28,786 | — | 30 day | 27,636 | — | 28,786 | — | ||||||||||||||||||||||||||||||||||||||||||
90 day | 90 day | 19,232 | — | 19,599 | — | 90 day | 18,816 | — | 19,599 | — | ||||||||||||||||||||||||||||||||||||||||||
180 day | 180 day | 2,234 | — | 18,516 | — | 180 day | 2,185 | — | 18,516 | — | ||||||||||||||||||||||||||||||||||||||||||
SOFR | SOFR | SOFR | 120,776 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
30 day | 14,414 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
UK LIBOR | ||||||||||||||||||||||||||||||||||||||||||||||||||||
30 day | 24,380 | — | 28,991 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
90 day | 4,742 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
180 day | 25,242 | — | 25,128 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
SONIA | SONIA | 52,848 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Fixed rate | Fixed rate | 203,747 | 300,000 | 200,599 | 300,000 | Fixed rate | 274,719 | 300,000 | 200,599 | 300,000 | ||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,514,831 | $ | 1,300,000 | $ | 2,477,120 | $ | 1,280,000 | Total | $ | 2,548,686 | $ | 1,395,000 | $ | 2,423,001 | $ | 1,280,000 |
Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934. | ||||||||
Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934. | ||||||||
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350). | ||||||||
Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350). |
* | Filed herewith. |
OAKTREE SPECIALTY LENDING CORPORATION | ||||||||
By: | /s/ Armen Panossian | |||||||
Armen Panossian | ||||||||
Chief Executive Officer | ||||||||
By: | /s/ Christopher McKown | |||||||
Christopher McKown | ||||||||
Chief Financial Officer and Treasurer |