Financial reports / Star Mountain Credit Opportunities Fund, LP | Tables in SEC filings

Star Mountain Credit Opportunities Fund, LP

Quarterly report

Portfolio Company (1)(2)(3)(4)(5)(6)	Footnotes	Spread Above Index (7)	Interest Rate	Acquisition Date	Maturity	Principal, Shares, Units		Amortized Cost (8)		Fair Value (9)		% of Net Assets
Investments
Non-controlled/non-affiliate investments
First lien senior secured term loan
Aerospace & Defense
Consolidated Machine & Tool Holdings, LLC	(17)(19)(22)	S+11.01%	15.60% PIK	1/15/2020	1/15/2025		6,093,316	$	5,553,788	$	5,537,818		2.5	%
Consolidated Machine & Tool Holdings, LLC	(17)(19)(22)	S+12.01%	16.60% PIK	1/19/2023	1/15/2025		1,294,336		1,283,429		1,176,338		0.6
Consolidated Machine & Tool Holdings, LLC	(13)(19)(22)	-	20.00% PIK	11/22/2023	1/15/2025		708,154		1,123,880		643,595		0.4
Consolidated Machine & Tool Holdings, LLC	(13)(19)	-	11.00%	5/22/2024	6/30/2025		402,553		285,608		365,854		0.2
							8,498,359		8,246,705		7,723,605		3.7
Chemicals
Douglas Products and Packaging Company, LLC	(10)(16)	S+6.90%	11.75%	9/20/2023	9/20/2028		14,850,000		14,602,651		14,849,999		6.8
							14,850,000		14,602,651		14,849,999		6.8
Commercial Services & Supplies
Swyft AcquireCo LLC (dba Swyft Filings)	(15)(16)	S+2.75%	7.60%	12/20/2021	12/20/2027		294,141		293,357		288,051		0.1
Swyft AcquireCo LLC (dba Swyft Filings)	(10)(16)	S+5.50%	10.35%	12/20/2021	12/20/2027		3,682,383		3,643,849		3,343,603		1.5
						3,976,524		3,937,206		3,631,654		1.6
Construction & Engineering
DCCM, LLC	(17)	S + 6.76% Cash + 1.00% PIK	11.35% Cash + 1.00% PIK	8/6/2021	12/30/2026		18,209,123		17,998,907		18,391,214		8.5
Fremont-Wright, LLC	(16)	S+9.10%	13.95%	12/2/2020	12/2/2024		4,183,721		4,179,663		4,183,721		1.9
MechanAir, LLC	(17)	S+10.80%	10.77% Cash + 4.62% PIK	9/2/2021	9/2/2026		11,107,616		10,980,993		11,084,290		5.1
MechanAir, LLC	(17)	S+12.30%	16.89% PIK	12/15/2023	9/2/2026		808,945		808,945		808,945		0.4
MechanAir, LLC	(13)	-	18.00% PIK	12/15/2023	9/2/2026		486,715		486,715		481,556		0.2
Versar Inc.	(10)(17)	S+8.10%	12.69%	8/4/2023	8/4/2028		10,000,000		9,659,920		9,728,000		4.5
Vertical Mechanical Group, LLC	(10)(17)	S+7.76%	12.35%	5/12/2023	5/12/2028		4,571,429		4,433,306		4,571,429		2.1
							49,367,549		48,548,449		49,249,155		22.7
Distributors
48forty Intermediate Holdings, Inc.	(16)	S+6.10%	10.95%	10/11/2022	12/1/2026		14,736,842		14,323,636		12,642,737		5.8
							14,736,842		14,323,636		12,642,737		5.8
Diversified Telecommunication Services
Gridsource Incorporated, LLC	(17)	S + 8.50% + 2.00% PIK	13.09% Cash + 2.00% PIK	12/16/2022	12/16/2027		14,102,616		13,724,275		13,847,259		6.4
YTC Holdings, Inc. (dba Yorktel)	(17)	S+10.01%	14.60%	9/23/2019	6/17/2025		5,033,906		4,978,164		5,033,906		2.3
							19,136,522		18,702,439		18,881,165		8.7
Electrical Equipment
Masterwork Electronics, Inc.	(17)(19)(22	S+7.65%	12.24% PIK	11/17/2022	11/17/2027		8,840,576		8,676,598		5,092,172		2.3
Masterwork Electronics, Inc.	(15)(17)(19)(22)	S+7.65%	12.24% PIK	11/17/2022	11/17/2027		521,739		521,739		521,739		0.2
							9,362,315		9,198,337		5,613,911		2.5
Entertainment
Chicken Soup For The Soul, LLC	(16)(19)(24)	S+8.60%	13.45%	10/29/2021	3/31/2024		6,380,856		6,380,856		1,681,994		0.8
Linden Research, Inc. (dba Linden Labs)	(10)(17)	S + 7.26% + 3.25% PIK	11.85% Cash + 3.25% PIK	12/31/2020	12/31/2025		4,721,775		4,645,787		4,721,775		2.2
NW Entertainment, LLC	(17)	S+7.76%	12.35%	11/4/2022	11/4/2027		6,268,417		6,169,295		6,268,417		2.9
							17,371,048		17,195,938		12,672,186		5.9
Healthcare Providers & Services
BB-HH Platform, Inc. (dba Preferred Care Home Health)	(10)(17)	S + 7.00% Cash + 1.50% PIK	11.59% Cash + 1.50% PIK	5/16/2023	5/16/2028		6,759,562		6,638,211		6,754,831		3.1
IPA Intermediate Co., LLC (dba Integrated Pain Associates)	(17)	S+8.01%	12.60%	1/9/2023	1/9/2028		11,124,393		10,879,643		11,078,783		5.1
Klein Hersh, LLC	(10)(17)	-	3.67% Cash	4/27/2022	4/27/2027		17,468,922		16,878,922		14,700,098		6.8
Nurses Staffing, LLC (dba Nurses 24/7)	(17)	S + 7.26% Cash + 2.00% PIK	11.85% Cash + 2.00% PIK	5/26/2023	8/26/2028		6,166,508		6,051,663		6,059,827		2.8
							41,519,385		40,448,439		38,593,539		17.8
Hotels, Restaurants & Leisure
The Range NYC, LLC (dba Five Iron Golf)	(17)(18)	S+7.61%	12.20%	9/15/2022	9/15/2027		4,941,176		4,821,967		4,888,306		2.2
							4,941,176		4,821,967		4,888,306		2.2
Household Durables
SkyBell Technologies, Inc.	(19)(22)	0.00%	0.00%	12/13/2019	12/13/2024		4,597,307		4,534,757		2,639,774		1.2
							4,597,307		4,534,757		2,639,774		1.2
Household Products
Coop Home Goods LLC (dba Coop Home Goods)	(10)(17)	S+8.26%	12.85%	6/18/2021	6/18/2026		4,373,103		4,334,429		4,373,103		2.0
							4,373,103		4,334,429		4,373,103		2.0
IT Services
CSI IT, LLC (dba Consulting Solutions)	(17)	S+10.76%	15.35%	1/29/2021	1/29/2026		12,751,649		12,630,081		12,792,455		5.9
							12,751,649		12,630,081		12,792,455		5.9
Leisure Products
MPUSA, LLC (dba Mission)	(17)	S + 8.26% Cash + 3.00% PIK	12.85% Cash + 3.00% PIK	12/9/2021	12/9/2026		4,322,734		4,267,329		1,726,068		0.8
							4,322,734		4,267,329		1,726,068		0.8
Machinery
Texas Contract Manufacturing Group, Inc.	(17)	S+12.11%	16.70%	4/27/2022	4/27/2027		4,681,630		4,617,257		4,034,160		1.9
							4,681,630		4,617,257		4,034,160		1.9
Media
PadSquad, LLC	(10)(17)	S+5.50%	10.09%	3/30/2022	3/30/2027		2,704,113		2,674,720		2,684,914		1.2
Trailer Park Group Holdings LLC	(10)(17)	S + 6.76% +1.50% PIK	11.35% Cash + 1.50% PIK	8/2/2021	8/2/2026		14,710,979		14,485,063		14,474,132		6.7
							17,415,092		17,159,783		17,159,046		7.9
Personal Products
Japonesque, LLC	(10)(17)	S+8.18%	12.77%	11/23/2021	11/23/2026		4,434,479		4,388,014		4,434,479		2.0
							4,434,479		4,388,014		4,434,479		2.0
Professional Services
Jefferson Consulting Group, LLC	(10)(17)	S+5.75%	10.34%	7/1/2024	7/1/2029		8,461,538		8,297,615		8,297,615		3.8
NSC Technologies, LLC	(10)(17)	S+8.26%	12.85%	4/26/2019	10/26/2026		4,148,472		4,118,700		4,101,179		1.9
PQT Ayaquhs, LLC (dba WWC Global)	(17)	S+7.76%	12.35%	8/1/2022	8/1/2027		7,458,669		7,354,104		7,533,256		3.5
Qualified Digital, LLC	(17)	S+7.00%	11.59%	7/30/2024	7/30/2029		9,120,000		8,806,286		8,806,286		4.0
							29,188,679		28,576,705		28,738,336		13.2
Specialty Retail
Clearview Systems, LLC (dba Rip-It)	(10)(17)	S+7.65%	12.24% Cash + 3.00% PIK	10/11/2022	10/10/2027		6,608,166		6,513,559		6,263,880		2.9
							6,608,166		6,513,559		6,263,880		2.9
Transportation Infrastructure
TCP Acquisition, LLC (dba HighStar Traffic)	(17)	S+7.50%	12.09%	7/26/2022	7/26/2027		10,475,037		10,312,995		10,427,899		4.8
							10,475,037		10,312,995		10,427,899		4.8
Total first lien senior secured term loan									277,360,676		261,335,457		120.3

Portfolio Company	Type of Investment	Amount of Realized Gain (Loss)		Amount of Interest or Dividends Credited to Income (a)		December 31, 2023 Value		Gross Additions (b)		Gross Reductions (c)		Transfers In/(Out) of Affiliates		Amount of Unrealized Gains (Loss)		September 30, 2024 Value
Arrow Home Health LLC (dba Acara Home Health)	First lien senior securred term loan	$	-	$	82,530	$	748,782	$	1,933	$	(1,027)	$	-	$	8,101	$	757,789
	Preferred equity securities (571,080 shares)		-		-		202,097		-		-		-		(152,320)		49,777
	Preferred equity securities (56,005 shares)		-		-		112,010		-		-		-		-		112,010
Capone Holdings JV, LLC (dba LaSalle Staffing)	Preferred equity securities (4,000,000 shares)		-		206,284		-		-		-		6,200,800		428,000		6,628,800
Caregility Corporation	First lien senior securred term loan		-		150,085		2,244,216		221,008		(9,082)		-		(55,070)		2,401,072
	Preferred equity securities (151,018 shares)		-		-		1,383,250		-		-		-		55,647		1,438,897
	Preferred equity securities (267,801 shares)		-		-		4,108,869		-		-		-		97,818		4,206,687
	Warrants (267,801 units)		-		-		571,189		-		-		-		(557,388)		13,801
Lasalle Staffing, LLC	First lien senior securred term loan		-		513,178		-		24,299		(161,103)		7,474,073		(25,105)		7,312,164
Microf, LLC	First lien senior securred term loan		-		341,199		-		8,874		-		3,427,073		(8,874)		3,427,073
	Preferred equity securities (164,332 shares)		-		-		-		-		-		318,483		(318,483)		-
Uncle John’s Pride, LLC	First lien senior securred term loan		-		567,170		-		12,730		(36,607)		7,142,992		(12,946)		7,106,169
UJP Acquisition, LLC (dba Uncle John’s Pride)	Warrants and other equity securities (127,215 shares)		-		-		-		-		-		47,064		(11,915)		35,149
	Preferred equity securities (2,829,787 shares)		-		-		-		-		-		4,252,128		(196,298)		4,055,830
USBid Inc.	First lien senior securred term loan		-		65,400	-		166,085		(4,826,396)		268,292		5,648,903		1,256,884
USBid Inc.	Warrants and other equity securities (204 shares)		-		-		-		-		-		-		-		-
USBid Inc. - Class A Units	Preferred equity securities (2,813 shares)		-		-		-		-		-		-		-		-
USBid Inc. - Class C Units	Preferred equity securities (9,375 shares)		-		-		-		-		-		-		-		-
USBid Inc. - Class C2 Units	Preferred equity securities (600,000 shares)		-		-		-		-		-		-		-		-
USBid Inc. - Class C3 Units	Preferred equity securities (24,000,000 shares)		-		-		-		-		-		-		-		-
Watt Acquisition, LLC	First lien senior securred term loan		-		189,547		-		77,707		-		2,148,189		(1,013,349)		1,212,547
Watt Contracting Holdings, LLC	Preferred equity securities (3,375 shares)		-		-		-		-		-		163,211		(163,211)		-
	Warrants and other equity securities (295 shares)		-		-		-		-		-		-		-		-
Total Affiliate Investments		$	-	$	2,115,393	$	9,370,413	$	512,636	$	(5,034,215)	$	31,442,305	$	3,723,510	$	40,014,649

	Fair Value Measurements
December 31, 2023	Level 1		Level 2		Level 3		Total
First Lien Senior Secured Loan	$	-	$	-	$	319,229,009	$	319,229,009
Second Lien Senior Secured Loan		-		-		6,059,372		6,059,372
Senior Unsecured Notes		-		-		1,384,446		1,384,446
Preferred Equity Securities		-		-		41,804,395		41,804,395
Warrants and Other Equity Securities		-		-		5,706,423		5,706,423
Total	$	-	$	-	$	374,183,645	$	374,183,645
Fund Investments								2,809,327
Total Investments							$	376,992,972

								Range
	Fair Value		Valuation Technique	Unobservable Input	Weighted Average Mean			Minimum			Maximum
Assets:
First Lien Senior Secured Loan	$	297,206,519	Discounted Cash Flow	Market Yields		15.3	%		7.0	%		27.0	%
				EBITDA Multiple		8.15	x		1.97	x		35.50	x
First Lien Senior Secured Loan		5,270,878	Discounted Cash Flow	Market Yields		21.8	%		19.0	%		25.9	%
				Revenue Multiple		0.62	x		0.30	x		0.80	x
First Lien Senior Secured Loan		15,201,958	Enterprise Value Method	Revenue Multiple		1.77	x		0.40	x		8.43	x
First Lien Senior Secured Loan		1,549,654	Enterprise Value Method	EBITDA Multiple		5.50	x		5.00	x		6.00	x
Second Lien Senior Secured Loan		6,059,372	Discounted Cash Flow	Market Yields		16.6	%		15.5	%		17.7	%
				EBITDA Multiple		7.50	x		7.00	x		8.00	x
Senior Unsecured Note		1,384,446	Discounted Cash Flow	Market Yields		26.7	%		26.7	%		26.7	%
				EBITDA Multiple		9.00	x		8.50	x		9.50	x
Preferred Equity Securities		26,528	Discounted Cash Flow	Market Yields		23.3	%		23.3	%		23.3	%
				Revenue Multiple		0.40	x		0.30	x		0.50	x
Preferred Equity Securities		4,154,769	Enterprise Value Method	Gross Profit Multiple		2.60	x		2.10	x		3.10	x
				EBITDA Multiple		12.50	x		12.00	x		13.00	x
Preferred Equity Securities		5,511,310	Enterprise Value Method	Revenue Multiple		2.49	x		0.30	x		3.00	x
Preferred Equity Securities		32,111,788	Enterprise Value Method	EBITDA Multiple		7.51	x		3.25	x		14.00	x
Warrants and Other Equity Securities		571,189	Enterprise Value Method	Revenue Multiple		2.50	x		2.00	x		8.43	x
Warrants and Other Equity Securities		5,135,234	Enterprise Value Method	EBITDA Multiple		6.58	x		3.25	x		35.50	x
Fund Investments		2,809,327	Other	N/A		N/A			N/A			N/A
Total Level 3 Assets	$	376,992,972

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