Barings BDC, Inc.

For the period ended Sep 30, 2026. Filed Nov 5, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 5, 2026

BBDC$8.77+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Unaudited Consolidated Schedule of Investments as of

Unaudited Consolidated Schedule of Investments

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Non–Control / Non–Affiliate Investments:
Debt Investments
Aerospace & Defense
AFT Fastener Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	07/26	07/32	$10,666		$10,475		$10,470	0.9%	(7)(8)(14)(19)
AFT Fastener Holdings, LLC	Revolver	SOFR + 5.00%, 8.8% Cash	07/26	07/32	—		(18)		(18)	—%	(7)(8)(14)(19)
ATL II MRO Holdings Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.3% Cash	11/22	11/28	18,970		18,776		18,812	1.6%	(7)(8)(19)
ATL II MRO Holdings Inc.	Revolver	SOFR + 4.50%, 8.3% Cash	11/22	11/28	—		(28)		(28)	—%	(7)(8)(14)(19)
Balaena Maritime (UK) Limited	First Lien Senior Secured Term Loan	SONIA + 12.00%, 15.7% Cash	06/26	06/31	20,283		19,892		19,838	1.7%	(3)(7)(8)(22)
Compass Precision, LLC	Senior Subordinated Term Loan	11.0% Cash, 1.0% PIK	04/22	04/28	659		657		659	0.1%	(7)
GB Eagle Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.25%, 8.3% Cash	12/22	11/30	7,042		6,964		7,042	0.6%	(7)(8)(19)
GB Eagle Buyer, Inc.	Revolver	SOFR + 4.25%, 8.3% Cash	12/22	11/30	130		97		130	—%	(7)(8)(14)(19)
M-Personal Protection Management GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.6% Cash	10/24	09/31	4,003		3,799		4,003	0.4%	(3)(7)(8)(16)
Megawatt Acquisitionco, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.5% Cash	03/24	03/30	4,004		3,955		4,004	0.4%	(7)(8)(19)
Megawatt Acquisitionco, Inc.	Revolver	SOFR + 5.25%, 9.5% Cash	03/24	03/30	150		142		150	—%	(7)(8)(14)(19)
Protego Bidco B.V.	Super Senior Secured Term Loan	EURIBOR + 6.00%, 8.5% Cash	02/26	03/33	1,447		1,417		1,447	0.1%	(3)(7)(8)(16)
Protego Bidco B.V.	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.5% Cash	03/21	11/27	1,855		1,904		1,855	0.2%	(3)(7)(8)(16)
Protego Bidco B.V.	Revolver	EURIBOR + 6.50%, 9.1% Cash	03/21	11/26	2,225		2,305		2,225	0.2%	(3)(7)(8)(16)
Sisu Acquisitionco., Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.2% Cash	12/20	12/28	7,164		7,153		7,124	0.6%	(7)(8)(19)
Surface Finishing Technologies Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	04/26	04/32	7,207		7,107		7,315	0.6%	(7)(8)(14)(20)
Surface Finishing Technologies Inc.	Revolver	SOFR + 4.75%, 8.5% Cash	04/26	04/32	—		(16)		—	—%	(7)(8)(14)(20)
Trident Maritime Systems, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.7% Cash, 2.0% PIK	02/21	02/27	12,286		12,271		11,303	1.0%	(7)(8)(19)
Whitcraft Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	06/24	09/31	13,037		12,877		12,949	1.1%	(7)(8)(19)
Whitcraft Holdings, Inc.	Revolver	SOFR + 5.00%, 9.1% Cash	02/23	09/31	1,019		988		1,006	0.1%	(7)(8)(14)(19)
Subtotal Aerospace & Defense (9.6%)*				112,147		110,717		110,286
Automotive
Burgess Point Purchaser Corporation	Second Lien Senior Secured Term Loan	SOFR + 9.00%, 12.9% Cash	07/22	07/30	4,545		4,449		4,295	0.4%	(7)(8)(19)
OAC Holdings I Corp	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.2% Cash	03/22	03/29	3,267		3,242		3,267	0.3%	(7)(8)(19)
OAC Holdings I Corp	Revolver	SOFR + 5.00%, 9.2% Cash	03/22	03/28	157		149		157	—%	(7)(8)(14)(19)
Randys Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	11/22	11/29	13,163		12,978		13,065	1.1%	(7)(8)(18)
Randys Holdings, Inc.	Revolver	SOFR + 5.00%, 8.9% Cash	11/22	11/29	606		580		592	0.1%	(7)(8)(14)(18)
Recon Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	11/25	11/31	1,945		1,911		1,918	0.2%	(7)(8)(14)(19)
Recon Buyer LLC	Revolver	SOFR + 4.75%, 8.8% Cash	11/25	11/31	—		(7)		(5)	—%	(7)(8)(14)(19)
SPATCO Energy Solutions, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	07/24	07/30	7,649		7,533		7,218	0.6%	(7)(8)(14)(19)
SPATCO Energy Solutions, LLC	Revolver	SOFR + 5.25%, 9.0% Cash	07/24	07/30	297		282		236	—%	(7)(8)(14)(19)
Subtotal Automotive (2.7%)*				31,629		31,117		30,743

Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount	Cost	FairValue	% of Net Assets *	Notes
Banking, Finance, Insurance, & Real Estate
Aegros Holdco 2 Ltd	Second Lien Senior Secured Term Loan	SONIA + 6.75%, 10.5% PIK	05/25	05/32	$5,652	$5,576	$5,154	0.5%	(3)(7)(8)(22)
Alpha Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	07/26	07/33	2,659	2,596	2,595	0.2%	(7)(8)(14)(19)
Alpha Holdings LLC	Revolver	SOFR + 4.75%, 8.8% Cash	07/26	07/33	—	(13)	(13)	—%	(7)(8)(14)(19)
Bishop Street Underwriters, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	07/25	07/31	5,023	4,953	4,957	0.4%	(7)(8)(14)(18)
Broadstone Group UK LTD	First Lien Senior Secured Term Loan	SONIA + 4.75%, 8.5% Cash	03/25	03/32	1,865	1,750	1,840	0.2%	(3)(7)(8)(14)(23)
Constellation Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	09/26	09/33	7,594	7,445	7,443	0.7%	(3)(7)(8)(14)(19)
Constellation Bidco Limited	Revolver	SOFR + 5.50%, 9.4% Cash	09/26	03/27	—	(5)	(6)	—%	(3)(7)(8)(14)(19)
Credit Key Funding II LLC	First Lien Senior Secured Term Loan	SOFR + 7.50%, 11.4% Cash	12/25	11/30	5,739	5,635	5,654	0.5%	(7)(8)(14)(18)
Credit Key Funding II LLC	Revolver	SOFR + 7.50%, 11.4% Cash	12/25	12/30	435	427	429	—%	(7)(8)(14)(18)
ERS Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.7% Cash	01/26	01/31	2,718	2,671	2,667	0.2%	(7)(8)(14)(18)
ERS Holdings, LLC	Revolver	SOFR + 4.75%, 8.7% Cash	01/26	01/31	—	(2)	(3)	—%	(7)(8)(14)(18)
Finaxy Holding	First Lien Senior Secured Term Loan	EURIBOR + 4.30%, 6.9% Cash	11/23	12/31	4,277	3,959	4,202	0.4%	(3)(7)(8)(17)
Forge Borrower, LLC	First Lien Senior Secured Term Loan	SOFR + 4.25%, 8.3% Cash	01/26	01/33	1,268	1,234	1,239	0.1%	(7)(8)(14)(19)
Forge Borrower, LLC	Revolver	SOFR + 4.25%, 8.3% Cash	01/26	01/33	—	(7)	(6)	—%	(7)(8)(14)(19)
Groupe Guemas	First Lien Senior Secured Term Loan	EURIBOR + 6.70%, 9.3% Cash	10/23	09/30	5,293	4,853	5,092	0.4%	(3)(7)(8)(17)
Hawksford Trustees Jersey LTD	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	07/26	07/33	2,086	2,055	2,054	0.2%	(3)(7)(8)(19)
Hawksford Trustees Jersey LTD	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.8% Cash	07/26	07/33	1,940	1,931	1,911	0.2%	(3)(7)(8)(16)
Hawksford Trustees Jersey LTD	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	07/26	07/33	1,345	1,297	1,288	0.1%	(3)(7)(8)(14)(22)
Heilbron (f/k/a Sucsez (Bolt Bidco B.V.))	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.5% Cash	09/19	06/28	3,440	3,676	3,416	0.3%	(3)(7)(8)(15)
High Street Buyer Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	07/25	04/28	515	507	506	—%	(7)(8)(14)(19)
IM Square	First Lien Senior Secured Term Loan	EURIBOR + 5.30%, 7.9% Cash	05/21	05/30	1,817	1,858	1,760	0.2%	(3)(7)(8)(14)(16)
Kite Topco Ltd	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	05/26	05/33	2,717	2,705	2,675	0.2%	(3)(7)(8)(14)(23)
Markerstudy Group Limited	First Lien Senior Secured Term Loan	SONIA + 5.93%, 9.7% Cash	03/26	03/32	4,916	4,895	4,875	0.4%	(3)(7)(8)(23)
ORS Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	06/25	08/31	6,339	6,266	6,288	0.5%	(7)(8)(19)
ORS Buyer, Inc.	Revolver	SOFR + 4.75%, 8.8% Cash	03/26	08/31	781	771	772	0.1%	(7)(8)(14)(19)
OSP AFS Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.5% Cash	10/25	10/31	5,997	5,904	5,997	0.5%	(7)(8)(14)(19)
OSP AFS Buyer, LLC	Revolver	SOFR + 4.50%, 8.5% Cash	10/25	10/31	—	(14)	—	—%	(7)(8)(14)(19)
Owl Intermediate Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	04/25	04/32	2,464	2,436	2,184	0.2%	(7)(8)(14)(19)
Owl Intermediate Holdings, LLC	Revolver	SOFR + 4.75%, 8.5% Cash	04/25	04/32	234	217	59	—%	(7)(8)(14)(19)
Petrus Buyer Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	09/26	10/29	2,805	2,739	2,738	0.2%	(7)(8)(14)(18)
Premium Invest	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 8.3% Cash	06/21	12/30	9,598	8,953	9,598	0.8%	(3)(7)(8)(14)(16)
Quantios Management Services Limited	First Lien Senior Secured Term Loan	SONIA + 5.00%, 8.7% Cash	08/26	07/33	2,231	2,225	2,193	0.2%	(3)(7)(8)(14)(22)
Quantios Management Services Limited	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.0% Cash	08/26	07/33	1,130	1,114	1,113	0.1%	(3)(7)(8)(19)
Quantios Management Services Limited	Revolver	SONIA + 5.00%, 8.7% Cash	08/26	07/33	—	(3)	(10)	—%	(3)(7)(8)(14)(22)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
SRS Acquiom Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	01/26	01/32		$4,427		$4,387	$4,427	0.4%	(7)(8)(18)
SRS Acquiom Holdings LLC	Revolver	SOFR + 4.50%, 8.4% Cash	01/26	01/32		—		(8)	—	—%	(7)(8)(14)(18)
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	10/21	12/29		11,604		11,529	11,488	1.0%	(7)(8)(19)
The Caprock Group, Inc. (aka TA/TCG Holdings, LLC)	Revolver	SOFR + 5.00%, 8.9% Cash	10/21	12/29		—		(10)	(23)	—%	(7)(8)(14)(19)
THG Acquisition, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.7% Cash	10/24	10/31		6,684		6,630	6,659	0.6%	(7)(8)(14)(18)
THG Acquisition, LLC	Revolver	SOFR + 4.75%, 8.7% Cash	10/24	10/31		579		568	574	0.1%	(7)(8)(14)(18)
West-NR Acquisitionco, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.2% Cash	08/23	12/27		13,173		13,022	12,944	1.1%	(7)(8)(14)(19)
Zest Bidco GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.6% Cash	07/26	07/33		2,233		2,195	2,180	0.2%	(3)(7)(8)(14)(17)
Subtotal Banking, Finance, Insurance, & Real Estate (11.3%)*			131,578		128,917		128,910
Beverage, Food, & Tobacco
CTI Foods Holdings Co., LLC	First Lien Senior Secured Term Loan	SOFR + 7.86%, 11.9% Cash	04/25	04/29		10,945		10,797	10,945	1.0%	(7)(8)(19)
CTI Foods Holdings Co., LLC	First Out Term Loan	SOFR + 10.00%, 14.0% PIK	02/24	04/29		2,669		2,669	2,669	0.2%	(7)(8)(19)
CTI Foods Holdings Co., LLC	First Out Term Loan	SOFR + 7.00%, 11.0% PIK	02/24	04/29		958		958	958	0.1%	(7)(8)(19)
CTI Foods Holdings Co., LLC	Last In First Out Term Loan	SOFR + 10.00%, 14.0% PIK	02/24	04/29		5,415		5,382	5,415	0.5%	(7)(8)(19)
CTI Foods Holdings Co., LLC	Second Out Term Loan	SOFR + 9.00%, 13.0% PIK	02/24	04/29		754		754	754	0.1%	(7)(8)(19)
GMF Parent, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.5% Cash	12/25	12/32		2,223		2,197	2,143	0.2%	(7)(8)(14)(19)
GMF Parent, Inc.	Revolver	SOFR + 4.50%, 8.5% Cash	12/25	12/32		111		106	97	—%	(7)(8)(14)(19)
L.A. Specialty Produce Co., LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	04/26	04/33		6,331		6,256	6,265	0.5%	(7)(8)(14)(19)
L.A. Specialty Produce Co., LLC	Revolver	SOFR + 4.50%, 8.6% Cash	04/26	04/33		—		(10)	(9)	—%	(7)(8)(14)(19)
Riedel Beheer B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 8.3% Cash	12/21	12/28		2,356		2,281	2,356	0.2%	(3)(7)(8)(16)
Woodland Foods, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	12/21	12/28		17,120		16,972	17,004	1.5%	(7)(8)(19)
Woodland Foods, LLC	Revolver	SOFR + 5.25%, 9.2% Cash	12/21	12/28		598		585	579	0.1%	(7)(8)(14)(19)
Subtotal Beverage, Food, & Tobacco (4.3%)*			49,480		48,947		49,176
Capital Equipment
AirX Climate Solutions, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	11/23	11/30		4,230		4,027	3,991	0.3%	(7)(8)(14)(19)
AirX Climate Solutions, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.5% Cash	11/23	11/30		3,256		3,207	3,256	0.3%	(7)(8)(19)
AirX Climate Solutions, Inc.	Revolver	SOFR + 5.75%, 9.5% Cash	11/23	11/30		—		(10)	—	—%	(7)(8)(14)(19)
APC1 Holding	First Lien Senior Secured Term Loan	EURIBOR + 5.50%, 8.1% Cash	07/22	07/29		2,612		2,346	2,612	0.2%	(3)(7)(8)(16)
BPG Holdings IV Corp	First Lien Senior Secured Term Loan	SOFR + 7.85%, 11.6% PIK	03/23	07/29		15,379		14,933	9,603	0.8%	(7)(8)(10)(19)
Cobham Slip Rings SAS	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.1% Cash	11/21	11/28		1,303		1,297	1,303	0.1%	(3)(7)(8)(19)
DAWGS Intermediate Holdings Co.	First Lien Senior Secured Term Loan	SOFR + 4.25%, 8.3% Cash	03/25	03/31		2,611		2,588	2,585	0.2%	(7)(8)(19)
DAWGS Intermediate Holdings Co.	Revolver	SOFR + 4.25%, 8.3% Cash	03/25	03/31		283		268	262	—%	(7)(8)(14)(19)
Kanawha Scales & Systems, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	11/25	11/32		450		443	445	—%	(7)(8)(14)(19)
Kanawha Scales & Systems, LLC	Revolver	SOFR + 4.50%, 8.6% Cash	11/25	11/32		35		34	34	—%	(7)(8)(14)(19)
Polara Enterprises, L.L.C.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	12/21	12/27		935		931	935	0.1%	(7)(8)(19)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Polara Enterprises, L.L.C.	Revolver	SOFR + 4.50%, 8.4% Cash	12/21	12/27		$—			$(5)		$—	—%	(7)(8)(14)(19)
Process Equipment, Inc. (ProcessBarron)	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.8% Cash	03/19	03/28		5,219			5,201		5,219	0.5%	(7)(8)(20)
Process Insights Acquisition, Inc.	First Lien Senior Secured Term Loan	SOFR + 1.65%, 5.7% Cash, 4.6% PIK	07/23	07/29		5,752			5,681		4,734	0.4%	(7)(8)(19)
Process Insights Acquisition, Inc.	Revolver	SOFR + 1.65%, 5.7% Cash, 4.6% PIK	07/23	07/29		517			504		336	—%	(7)(8)(14)(19)
Rapid Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	10/24	10/30		5,371			5,325		5,354	0.5%	(7)(8)(14)(20)
Rapid Buyer LLC	Revolver	SOFR + 4.75%, 8.4% Cash	10/24	10/30		—			(8)		(3)	—%	(7)(8)(14)(20)
Tallman Equipment Co., Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.3% Cash	06/26	06/32		6,471			6,367		6,373	0.6%	(7)(8)(14)(19)
Tallman Equipment Co., Inc.	Revolver	SOFR + 4.50%, 8.3% Cash	06/26	06/32		—			(14)		(13)	—%	(7)(8)(14)(19)
TAPCO Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	11/24	11/30		9,570			9,466		9,482	0.8%	(7)(8)(19)
TAPCO Buyer LLC	Revolver	SOFR + 5.00%, 9.1% Cash	11/24	11/30		212			198		199	—%	(7)(8)(14)(19)
Tencarva Machinery Company, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 9.0% Cash	12/21	12/27		9,226			9,095		9,167	0.8%	(7)(8)(14)(19)
Tencarva Machinery Company, LLC	Revolver	SOFR + 4.75%, 9.0% Cash	12/21	12/27		—			(10)		(8)	—%	(7)(8)(14)(19)
Subtotal Capital Equipment (5.8%)*				73,432			71,864			65,866
Chemicals, Plastics, & Rubber
Americo Chemical Products, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	04/23	04/29		4,815			4,764		4,772	0.4%	(7)(8)(18)
Americo Chemical Products, LLC	Revolver	SOFR + 5.25%, 9.3% Cash	04/23	04/29		—			(5)		(4)	—%	(7)(8)(14)(18)
AnalytiChem Holding GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.33%, 8.0% Cash	11/21	11/28		6,062			5,774		6,038	0.5%	(3)(7)(8)(17)
AnalytiChem Holding GmbH	First Lien Senior Secured Term Loan	SOFR + 5.33%, 9.2% Cash	06/22	11/28		1,019			1,019		1,015	0.1%	(3)(7)(8)(20)
G-3 Chickadee Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.6% Cash	10/25	10/31		11,682			11,477		11,483	1.0%	(7)(8)(19)
Polymer Solutions Group Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 7.00%, 11.4% PIK	02/22	08/27		994			994		334	—%	(7)(8)(10)(19)
Subtotal Chemicals, Plastics, & Rubber (2.1%)*			24,572		24,023			23,638
Construction & Building
AMP Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	04/26	04/33		5,732			5,705		5,708	0.5%	(7)(8)(19)
AMP Purchaser, LLC	Revolver	SOFR + 4.50%, 8.4% Cash	04/26	04/33		—			(4)		(3)	—%	(7)(8)(14)(19)
BKF Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	08/24	08/30		4,178			4,137		4,125	0.4%	(7)(8)(14)(18)
BKF Buyer, Inc.	Revolver	SOFR + 4.50%, 8.4% Cash	08/24	08/30		—			(20)		(36)	—%	(7)(8)(14)(18)
CTA Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.7% Cash	08/26	01/31		5,557			5,477		5,475	0.5%	(7)(8)(14)(18)
CTA Inc.	Revolver	SOFR + 4.75%, 8.7% Cash	08/26	01/31		—			(18)		(18)	—%	(7)(8)(14)(18)
GMES LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	09/25	09/31		8,359			8,263		8,286	0.7%	(7)(8)(14)(19)
GMES LLC	Revolver	SOFR + 5.25%, 9.3% Cash	09/25	09/31		204			193		195	—%	(7)(8)(14)(19)
Lockmasters Security Intermediate, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	05/25	09/27		3,215			3,201		3,215	0.3%	(7)(8)(14)(19)
Lockmasters Security Intermediate, Inc.	Revolver	SOFR + 5.00%, 9.1% Cash	05/25	09/27		—			(3)		—	—%	(7)(8)(14)(19)
Subtotal Construction & Building (2.4%)*				27,245			26,931			26,947
Consumer goods: Durable
BCTS Parent, LLC	First Lien Senior Secured Term Loan	CORRA + 4.75%, 7.3% Cash	04/26	12/31		1,236			1,238		1,216	0.1%	(3)(7)(8)(14)(26)
BCTS Parent, LLC	Revolver	CORRA + 4.75%, 7.3% Cash	04/26	12/31		251			250		245	—%	(3)(7)(8)(14)(26)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
HTI Technology & Industries	First Lien Senior Secured Term Loan	SOFR + 8.50%, 12.5% Cash	07/22	06/27		$11,091			$11,060		$10,978	1.0%	(7)(8)(14)(19)
HTI Technology & Industries	Revolver	SOFR + 8.50%, 12.5% Cash	07/22	06/27		—			(2)		(7)	—%	(7)(8)(14)(19)
Lifestyle Intermediate II, LLC	First Lien Senior Secured Term Loan	SOFR + 7.00%, 11.0% Cash	02/22	12/27		2,871			2,871		2,019	0.2%	(7)(8)(12)(19)
Main Line Commercial Pools LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	04/26	04/33		2,047			1,996		2,030	0.2%	(7)(8)(14)(19)
Main Line Commercial Pools LLC	Revolver	SOFR + 5.25%, 9.0% Cash	04/26	04/33		—			(7)		(2)	—%	(7)(8)(14)(19)
Momentum Textiles, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.6% Cash	03/25	03/29		7,218			7,171		7,169	0.6%	(7)(8)(19)
Momentum Textiles, LLC	Revolver	SOFR + 5.50%, 9.6% Cash	03/25	03/29		—			(6)		(6)	—%	(7)(8)(14)(19)
Renovation Parent Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	11/21	11/28		4,490			4,467		4,490	0.4%	(7)(8)(19)
Team Air Distributing, LLC	Subordinated Term Loan	14.0% PIK	05/23	05/28		812			803		634	0.1%	(7)(10)
Victoria Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 6.50%, 10.2% Cash	03/22	09/30		4,141			4,112		3,988	0.3%	(3)(7)(8)(23)
Vista Acquisition, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	05/26	05/33		8,932			8,839		8,847	0.8%	(7)(8)(14)(18)
Vista Acquisition, LLC	Revolver	SOFR + 5.00%, 8.9% Cash	05/26	04/33		—			(9)		(8)	—%	(7)(8)(14)(18)
Subtotal Consumer goods: Durable (3.6%)*				43,089			42,783			41,593
Consumer goods: Non-durable
Bidwax	First Lien Senior Secured Term Loan	EURIBOR + 6.25%, 8.6% Cash	02/21	02/28		7,951			8,210		7,812	0.7%	(3)(7)(8)(17)
CCFF Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	02/24	02/30		6,061			5,974		6,042	0.5%	(7)(8)(14)(19)
CCFF Buyer, LLC	Revolver	SOFR + 5.00%, 8.8% Cash	02/24	02/30		175			162		172	—%	(7)(8)(14)(19)
David Wood Baking UK Ltd	First Lien Senior Secured Term Loan	SONIA + 11.00%, 14.7% Cash	04/24	04/29		1,100			998		1,030	0.1%	(3)(7)(8)(14)(23)
Ice House America, L.L.C.	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.5% Cash	01/24	01/30		4,577			4,512		4,463	0.4%	(7)(8)(14)(19)
Ice House America, L.L.C.	Revolver	SOFR + 5.75%, 9.5% Cash	01/24	01/30		90			85		81	—%	(7)(8)(14)(19)
Safety Products Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.25%, 8.0% Cash	12/20	12/28		8,268			8,231		8,268	0.7%	(7)(8)(19)
Subtotal Consumer goods: Non-durable (2.4%)*			28,222		28,172			27,868
Containers, Packaging, & Glass
BLI Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	10/25	10/31		2,568			2,539		2,545	0.2%	(7)(8)(14)(19)
BLI Buyer, Inc.	Revolver	SOFR + 5.00%, 8.8% Cash	10/25	10/31		48			42		43	—%	(7)(8)(14)(19)
Diversified Packaging Holdings LLC	Second Lien Senior Secured Term Loan	11.0% Cash	06/24	06/29		1,044			1,030		1,028	0.1%	(7)
Five Star Holding LLC	Second Lien Senior Secured Term Loan	SOFR + 7.25%, 11.0% Cash	05/22	05/30		13,692			13,545		13,623	1.2%	(7)(8)(19)
Media Recovery, Inc. (SpotSee)	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	09/24	09/30		1,680			1,662		1,680	0.1%	(7)(8)(19)
Media Recovery, Inc. (SpotSee)	First Lien Senior Secured Term Loan	SONIA + 4.50%, 8.2% Cash	09/24	09/30		3,425			3,421		3,425	0.3%	(7)(8)(21)
Media Recovery, Inc. (SpotSee)	Revolver	SOFR + 4.50%, 8.6% Cash	09/24	09/30		—			(6)		—	—%	(7)(8)(14)(19)
Media Recovery, Inc. (SpotSee)	Revolver	SONIA + 4.50%, 8.2% Cash	09/24	09/30		—			(8)		—	—%	(7)(8)(14)(21)
MSI Express Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.0% Cash	03/25	03/31		2,214			2,194		2,110	0.2%	(7)(8)(19)
MSI Express Inc.	Revolver	SOFR + 3.75%, 7.8% Cash	03/25	03/31		1,742			1,724		1,697	0.1%	(7)(8)(14)(19)
OG III B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.65%, 8.2% Cash	06/21	06/28		3,596			3,716		3,456	0.3%	(3)(7)(8)(16)
Tank Holding Corp	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.8% Cash	03/22	03/28		7,760			7,707		7,504	0.7%	(7)(8)(18)
Tank Holding Corp	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.0% Cash	05/23	03/28		2,986			2,954		2,896	0.3%	(7)(8)(18)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Tank Holding Corp	Revolver	SOFR + 5.75%, 9.8% Cash	03/22	03/28		$87			$82		$58	—%	(7)(8)(14)(18)
Subtotal Containers, Packaging, & Glass (3.5%)*			40,842		40,602			40,065
Energy: Electricity
WWEC Holdings III Corp	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	10/22	10/28		12,003			11,895		11,979	1.0%	(7)(8)(19)
WWEC Holdings III Corp	Revolver	SOFR + 5.00%, 9.1% Cash	10/22	10/28		—			(21)		(5)	—%	(7)(8)(14)(19)
Subtotal Energy: Electricity (1.0%)*				12,003			11,874			11,974
Environmental Industries
CTS US Bidco, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.8% Cash	11/25	11/31		3,793			3,724		3,812	0.3%	(3)(7)(8)(19)
Encore Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	07/26	08/32		10,235			10,083		10,079	0.9%	(7)(8)(14)(19)
Encore Buyer, LLC	Revolver	SOFR + 5.50%, 9.2% Cash	07/26	08/32		—			(31)		(32)	—%	(7)(8)(14)(19)
Northstar Recycling, LLC	First Lien Senior Secured Term Loan	SOFR + 4.40%, 8.5% Cash	12/24	12/30		12,511			12,405		12,511	1.1%	(7)(8)(19)
Northstar Recycling, LLC	Revolver	SOFR + 4.40%, 8.5% Cash	12/24	12/30		—			(29)		—	—%	(7)(8)(14)(19)
Subtotal Environmental Industries (2.3%)*				26,539			26,152			26,370
Healthcare & Pharmaceuticals
A.T. Holdings II LTD	First Lien Senior Secured Term Loan	1.6% Cash, 12.6% PIK	11/22	09/29		14,696			11,875		9,375	0.8%	(3)(7)(11)
Amalfi Midco	Second Lien Senior Secured Term Loan	15.5% Cash	09/22	10/28		384			378		399	—%	(3)(7)
Amalfi Midco	Subordinated Loan Notes	2.0% Cash, 9.0% PIK	09/22	09/28		4,121			3,718		4,038	0.4%	(3)(7)
Astra Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.5% Cash	11/21	11/28		434			408		425	—%	(3)(7)(8)(16)
Astra Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.00%, 8.7% Cash	11/21	11/28		2,572			2,537		2,520	0.2%	(3)(7)(8)(23)
Avance Clinical Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 4.50%, 9.0% Cash	11/21	11/27		1,678			1,697		1,678	0.1%	(3)(7)(8)(14)(24)
Cadence, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	08/26	08/32		11,167			11,017		11,014	1.0%	(7)(8)(14)(19)
Cadence, Inc.	Revolver	SOFR + 5.00%, 8.8% Cash	08/26	08/32		—			(26)		(26)	—%	(7)(8)(14)(19)
Canadian Orthodontic Partners Corp.	First Lien Senior Secured Term Loan	CORRA + 7.00%, 9.3% PIK	06/21	12/26		2,146			1,850		64	—%	(3)(7)(8)(10)(26)
Ceres Pharma NV	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.5% Cash	10/21	10/28		3,516			3,318		3,457	0.3%	(3)(7)(8)(17)
Ceres Pharma NV	First Lien Senior Secured Term Loan	EURIBOR + 7.00%, 9.5% Cash	05/25	10/28		644			650		644	0.1%	(3)(7)(8)(17)
Dane Street, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	03/26	03/33		1,145			1,124		1,127	0.1%	(7)(8)(14)(20)
Dane Street, LLC	Revolver	SOFR + 4.50%, 8.6% Cash	03/26	03/33		—			(5)		(5)	—%	(7)(8)(14)(20)
EB Development	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.8% Cash	11/24	11/31		1,999			1,810		1,999	0.2%	(3)(7)(8)(16)
EB Development	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	06/26	11/31		1,558			1,558		1,558	0.1%	(3)(7)(8)(19)
Faraday	First Lien Senior Secured Term Loan	EURIBOR + 6.10%, 8.7% Cash	01/23	01/29		1,730			1,637		1,730	0.2%	(3)(7)(8)(16)
Finexvet	First Lien Senior Secured Term Loan	EURIBOR + 4.00%, 6.6% Cash	03/22	03/29		5,308			5,088		4,836	0.4%	(3)(7)(8)(17)
Forest Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.0% Cash	03/24	03/30		6,022			5,962		5,636	0.5%	(7)(8)(19)
Forest Buyer, LLC	Revolver	SOFR + 5.00%, 9.0% Cash	03/24	03/30		—			(4)		(19)	—%	(7)(8)(14)(19)
GCDL LLC	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.1% Cash	08/24	08/30		611			607		607	0.1%	(7)(8)(19)
GCDL LLC	Revolver	SOFR + 6.00%, 10.1% Cash	08/24	08/30		—			(1)		(1)	—%	(7)(8)(14)(19)
GPNZ II GmbH	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.9% PIK	06/22	06/29		489			444		—	—%	(3)(7)(8)(10)(15)
GPNZ II GmbH	First Lien Senior Secured Term Loan	10.0% PIK	06/22	06/29		581			566		—	—%	(3)(7)(10)

Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount	Cost	FairValue	% of Net Assets *	Notes
Groupe Product Life	First Lien Senior Secured Term Loan	EURIBOR + 4.25%, 7.2% Cash	10/22	10/29	$536	$491	$417	—%	(3)(7)(8)(14)(16)
HeartHealth Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.00%, 9.8% Cash	09/22	09/28	890	817	880	0.1%	(3)(7)(8)(14)(24)
Heartland Veterinary Partners, LLC	Subordinated Term Loan	11.0% PIK	11/21	12/28	16,968	16,879	16,018	1.4%	(7)
HemaSource, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	08/23	08/29	2,476	2,442	2,476	0.2%	(7)(8)(14)(18)
HemaSource, Inc.	Revolver	SOFR + 4.50%, 8.4% Cash	08/23	08/29	—	(22)	—	—%	(7)(8)(14)(18)
Home Care Assistance, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.0% Cash, 1.0% PIK	03/21	09/27	3,794	3,743	3,156	0.3%	(7)(8)(20)
Jon Bidco Limited	First Lien Senior Secured Term Loan	BKBM + 4.75%, 7.7% Cash	07/25	08/30	2,491	2,670	2,420	0.2%	(3)(7)(8)(14)(29)
Keystone Bidco B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.8% Cash	08/24	08/31	911	876	893	0.1%	(3)(7)(8)(14)(17)
Lambir Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 6.50%, 9.1% Cash	12/21	12/28	2,345	2,284	2,172	0.2%	(3)(7)(8)(17)
Lambir Bidco Limited	Second Lien Senior Secured Term Loan	12.0% PIK	12/21	06/29	2,410	2,358	2,061	0.2%	(3)(7)
Matrix Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	04/26	04/32	1,783	1,763	1,764	0.2%	(7)(8)(14)(19)
Matrix Buyer, LLC	Revolver	SOFR + 4.75%, 8.8% Cash	04/26	04/32	53	49	50	—%	(7)(8)(14)(19)
Moonlight Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.45%, 9.2% Cash	07/23	07/30	2,261	2,197	2,261	0.2%	(3)(7)(8)(14)(22)
Napa Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.00%, 9.6% Cash	03/22	03/28	14,000	14,390	14,000	1.2%	(3)(7)(8)(24)
NPM Investments 28 B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.20%, 7.8% Cash	09/22	10/29	2,314	2,012	2,314	0.2%	(3)(7)(8)(14)(16)
Ocular Therapeutix, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.4% Cash	08/23	07/29	3,930	3,864	4,606	0.4%	(3)(7)(8)(18)
Oracle Vision Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.70%, 9.4% Cash	06/21	06/28	3,041	3,198	2,846	0.2%	(3)(7)(8)(23)
Pare SAS (SAS Maurice MARLE)	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.8% Cash	12/19	12/27	2,570	2,518	2,570	0.2%	(3)(7)(8)(16)
Pare SAS (SAS Maurice MARLE)	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.7% Cash	11/22	12/27	1,300	1,300	1,300	0.1%	(3)(7)(8)(19)
Parkview Dental Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 8.30%, 11.9% Cash	10/23	10/29	624	617	619	0.1%	(7)(8)(18)
Pepper Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 4.75%, 9.3% Cash	02/26	02/32	1,843	1,830	1,792	0.2%	(3)(7)(8)(14)(24)
Prospero Bidco SAS	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.3% Cash	07/26	07/33	3,443	3,359	3,369	0.3%	(3)(7)(8)(14)(15)
Pulse Holding GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.7% Cash	09/26	07/33	1,354	1,334	1,312	0.1%	(3)(7)(8)(14)(16)
Pulse Holding GmbH	Revolver	EURIBOR + 5.00%, 7.7% Cash	09/26	03/27	—	—	—	—%	(3)(7)(8)(14)(16)
Sanoptis S.A.R.L.	First Lien Senior Secured Term Loan	EURIBOR + 4.75%, 7.1% Cash	06/22	07/29	6,225	5,859	6,158	0.5%	(3)(7)(8)(16)
Sanoptis S.A.R.L.	First Lien Senior Secured Term Loan	SARON + 4.75%, 4.8% Cash	06/22	07/29	3,817	3,478	3,776	0.3%	(3)(7)(8)(30)
SCP CDH Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	12/25	12/32	8,370	8,289	8,370	0.7%	(7)(8)(14)(19)
SCP CDH Buyer, Inc.	Revolver	SOFR + 4.50%, 8.6% Cash	12/25	12/32	—	(9)	—	—%	(7)(8)(14)(19)
SCP Medical Products, LLC.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	06/25	06/31	2,019	1,998	2,019	0.4%	(7)(8)(19)
SCP Medical Products, LLC.	Revolver	SOFR + 4.75%, 8.5% Cash	06/25	06/31	85	83	85	0.4%	(7)(8)(14)(19)
Smile Brands Group Inc.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.9% PIK	10/18	07/29	5,457	5,438	4,420	0.4%	(7)(8)(10)(19)
SSCP Pegasus Midco Limited	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	03/26	12/32	1,754	1,724	1,721	0.2%	(3)(7)(8)(14)(22)
SSCP Spring Bidco 3 Limited	First Lien Senior Secured Term Loan	SONIA + 6.45%, 10.2% Cash	11/23	11/30	2,211	2,121	2,167	0.2%	(3)(7)(8)(23)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Surgical Precision Instruments GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.7% Cash	09/26	09/33		$3,612		$3,629	$3,544	0.3%	(3)(7)(8)(14)(16)
Swoop Intermediate III, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	04/25	04/32		4,280		4,265	4,280	0.1%	(7)(8)(14)(19)
Swoop Intermediate III, Inc.	Revolver	SOFR + 4.50%, 8.6% Cash	04/25	04/32		—		(3)	—	0.1%	(7)(8)(14)(19)
TA KHP Aggregator, L.P.	First Lien Senior Secured Term Loan	SOFR + 4.25%, 8.3% Cash	06/25	06/32		1,022		1,004	1,010	0.1%	(7)(8)(14)(19)
TA KHP Aggregator, L.P.	Revolver	SOFR + 4.25%, 8.3% Cash	06/25	06/32		—		(4)	(3)	0.1%	(7)(8)(14)(19)
TA KHP Aggregator, L.P.	Subordinated Term Loan	12.3% PIK	06/25	12/32		2,535		2,510	2,527	0.1%	(7)
UNA 658 Equity Management GmbH	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.9% Cash	06/26	05/33		1,296		1,306	1,276	0.1%	(3)(7)(8)(14)(16)
Union Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 4.30%, 8.3% Cash	06/22	06/29		1,054		960	1,054	0.1%	(3)(7)(8)(23)
Unither (Uniholding)	First Lien Senior Secured Term Loan	EURIBOR + 4.95%, 7.5% Cash	03/23	03/30		707		672	707	0.1%	(3)(7)(8)(16)
Unosquare, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.7% Cash	06/25	06/31		2,399		2,345	2,259	0.2%	(7)(8)(14)(18)
Unosquare, LLC	Revolver	SOFR + 4.75%, 8.7% Cash	06/25	06/31		—		(8)	(20)	—%	(7)(8)(14)(18)
VB Spine Intermediary II LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash, 4.4% PIK	03/25	04/30		47,376		46,052	46,049	4.0%	(7)(8)(19)
VPP Intermediate Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.3% Cash	07/26	05/30		4,304		4,258	4,256	0.4%	(7)(8)(14)(19)
VPP Intermediate Holdings, LLC	Revolver	SOFR + 5.50%, 9.3% Cash	07/26	05/30		—		(2)	(2)	—%	(7)(8)(14)(19)
Subtotal Healthcare & Pharmaceuticals (18.9%)*			230,661		223,142		216,005
High Tech Industries
Argus Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.92%, 9.6% Cash	07/22	07/29		1,522		1,353	1,449	0.1%	(3)(7)(8)(22)
Argus Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.92%, 9.0% Cash	07/22	07/29		2,149		1,945	2,045	0.2%	(3)(7)(8)(17)
Argus Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.92%, 9.8% Cash	07/22	07/29		138		137	132	—%	(3)(7)(8)(20)
Argus Bidco Limited	Second Lien Senior Secured Term Loan	10.5% PIK	07/22	07/29		806		705	747	0.1%	(3)(7)
Argus Bidco Limited	Subordinated Loan	24.0% Cash	04/26	03/33		15		15	15	—%	(3)(7)
Bitly, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	11/25	11/31		2,300		2,279	2,283	0.2%	(7)(8)(18)
Bitly, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	11/25	11/31		—		(2)	(1)	—%	(7)(8)(14)(18)
CH Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 6.25%, 10.1% Cash	05/25	05/31		868		856	868	0.1%	(7)(8)(19)
CH Buyer, LLC	Revolver	SOFR + 6.25%, 10.1% Cash	05/25	05/31		—		(1)	—	—%	(7)(8)(14)(19)
Contabo Finco S.À R.L	First Lien Senior Secured Term Loan	EURIBOR + 5.15%, 7.6% Cash	10/22	10/29		5,289		4,589	5,289	0.5%	(3)(7)(8)(16)
CW Group Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	01/21	07/27		5,133		5,051	5,133	0.4%	(7)(8)(14)(19)
Discovery Buyer, L.P.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	02/25	02/32		16,981		16,785	16,871	1.5%	(7)(8)(14)(19)
Discovery Buyer, L.P.	Revolver	SOFR + 5.00%, 8.8% Cash	02/25	02/32		—		(17)	(10)	—%	(7)(8)(14)(19)
Durare Bidco, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	08/25	08/32		2,147		2,127	2,132	0.2%	(7)(8)(14)(19)
Durare Bidco, LLC	Revolver	SOFR + 4.75%, 8.5% Cash	08/25	08/32		—		(8)	(6)	—%	(7)(8)(14)(19)
Eurofins Digital Testing International LUX Holding SARL	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.6% Cash, 1.0% PIK	12/22	12/29		715		469	629	0.1%	(3)(7)(8)(17)
Eurofins Digital Testing International LUX Holding SARL	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.9% Cash, 1.0% PIK	12/22	12/29		362		234	319	—%	(3)(7)(8)(19)
Eurofins Digital Testing International LUX Holding SARL	First Lien Senior Secured Term Loan	SONIA + 6.00%, 10.0% Cash, 1.0% PIK	12/22	12/29		1,124		690	989	0.1%	(3)(7)(8)(23)

Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount	Cost	FairValue	% of Net Assets *	Notes
Eurofins Digital Testing International LUX Holding SARL	Subordinated Term Loan	EURIBOR + 7.00%, 9.1% PIK	10/25	12/29	$4,120	$1,523	$—	—%	(3)(7)(8)(10)(16)
Eurofins Digital Testing International LUX Holding SARL	Super Senior Secured Term Loan	EURIBOR + 6.00%, 8.5% Cash	07/26	07/33	130	130	130	—%	(3)(7)(8)(16)
Everest Midco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.6% Cash	01/26	01/33	778	793	772	0.1%	(3)(7)(8)(16)
Everest Midco Limited	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	01/26	01/33	3,231	3,186	3,194	0.3%	(3)(7)(8)(14)(19)
Everest Midco Limited	Revolver	SOFR + 4.75%, 8.8% Cash	01/26	01/33	—	(8)	(7)	—%	(3)(7)(8)(14)(19)
EZ SMBO Bidco	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.6% Cash	04/25	04/32	880	811	832	0.1%	(3)(7)(8)(14)(17)
EZ SMBO Bidco	First Lien Senior Secured Term Loan	CORRA + 5.00%, 7.3% Cash	04/25	04/32	895	913	884	0.1%	(3)(7)(8)(27)
EZ SMBO Bidco	First Lien Senior Secured Term Loan	EURIBOR + 8.00%, 10.8% PIK	04/25	04/32	745	714	736	0.1%	(3)(7)(8)(17)
EZ SMBO Bidco	Subordinated Term Loan	EURIBOR + 8.00%, 10.8% PIK	03/26	04/32	331	332	327	—%	(3)(7)(8)(17)
FSS Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	04/25	08/31	4,219	4,219	4,219	0.4%	(7)(8)(18)
FSS Buyer LLC	Revolver	SOFR + 4.50%, 8.4% Cash	04/26	08/30	—	—	—	—%	(7)(8)(14)(18)
Haystack Holdings LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.4% Cash	01/25	01/28	8,806	8,757	8,593	0.8%	(7)(8)(14)(20)
Haystack Holdings LLC	Revolver	SOFR + 4.75%, 8.4% Cash	01/25	01/28	—	(6)	(28)	—%	(7)(8)(14)(20)
Immix Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	09/26	09/32	11,930	11,783	11,781	1.0%	(7)(8)(19)
Immix Buyer, LLC	Revolver	SOFR + 5.25%, 9.0% Cash	09/26	09/32	—	(35)	(36)	—%	(7)(8)(14)(19)
Lattice Group Holdings Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.4% Cash	05/22	05/29	738	721	683	0.1%	(3)(7)(8)(14)(20)
Lattice Group Holdings Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.75%, 9.5% Cash	05/22	05/29	214	216	206	—%	(3)(7)(8)(23)
Lattice Group Holdings Bidco Limited	Revolver	SOFR + 5.75%, 9.4% Cash	05/22	11/28	—	—	(1)	—%	(3)(7)(8)(14)(20)
Lighthouse Finco SARL	First Lien Senior Secured Term Loan	EURIBOR + 4.75%, 7.3% Cash	02/26	02/33	701	722	695	0.1%	(3)(7)(8)(16)
Lighthouse Finco SARL	First Lien Senior Secured Term Loan	SONIA + 4.75%, 8.5% Cash	02/26	02/33	1,654	1,659	1,635	0.1%	(3)(7)(8)(14)(22)
Maia Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	12/25	11/32	2,184	2,149	2,156	0.2%	(3)(7)(8)(19)
Maia Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	12/25	11/32	752	725	726	0.1%	(3)(7)(8)(14)(22)
NAW Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	09/23	09/29	15,406	15,169	15,406	1.3%	(7)(8)(14)(19)
NAW Buyer LLC	Revolver	SOFR + 4.75%, 8.5% Cash	09/23	09/29	—	(24)	—	—%	(7)(8)(14)(19)
NeoxCo	First Lien Senior Secured Term Loan	EURIBOR + 5.60%, 8.3% Cash	01/23	01/30	2,205	2,077	2,205	0.2%	(3)(7)(8)(17)
NeoxCo	First Lien Senior Secured Term Loan	EURIBOR + 6.35%, 9.0% Cash	01/23	01/30	511	467	511	—%	(3)(7)(8)(17)
Next Holdco, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	11/23	11/30	21,981	21,797	21,970	1.9%	(7)(8)(19)
Next Holdco, LLC	Revolver	SOFR + 5.25%, 9.0% Cash	11/23	11/29	—	(6)	—	—%	(7)(8)(14)(19)
ORTEC International Newco B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.9% Cash	12/23	12/30	1,038	981	1,038	0.1%	(3)(7)(8)(16)
OSP Hamilton Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.3% Cash	12/21	12/29	18,114	17,981	17,932	1.6%	(7)(8)(19)
OSP Hamilton Purchaser, LLC	Revolver	SOFR + 4.50%, 8.3% Cash	12/21	12/29	687	676	669	0.1%	(7)(8)(14)(19)
OSP Lakeside Intermediate Holdings 2, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	10/25	10/31	4,233	4,179	4,089	0.4%	(7)(8)(18)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
OSP Lakeside Intermediate Holdings 2, LLC	Revolver	SOFR + 5.50%, 9.4% Cash	10/25	10/31	$—		$(9)		$(25)	—%	(7)(8)(14)(18)
PDQ.Com Corporation	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	08/21	10/32	13,183		13,137		13,064	1.1%	(7)(8)(19)
PowerGEM Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	11/24	11/31	7,570		7,504		7,474	0.7%	(7)(8)(19)
PowerGEM Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.2% Cash	04/26	11/31	341		314		317	—%	(7)(8)(14)(19)
PowerGEM Buyer, Inc.	Revolver	SOFR + 4.75%, 8.5% Cash	11/24	11/31	—		(7)		(10)	—%	(7)(8)(14)(19)
ProfitOptics, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.2% Cash	03/22	03/28	1,581		1,573		1,573	0.1%	(7)(8)(19)
ProfitOptics, LLC	Revolver	SOFR + 5.00%, 9.2% Cash	03/22	03/28	—		(2)		(2)	—%	(7)(8)(14)(19)
ProfitOptics, LLC	Senior Subordinated Term Loan	8.0% Cash	03/22	03/29	81		81		79	—%	(7)
Pro-Vision Solutions Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	09/24	09/30	15,405		15,234		15,212	1.3%	(7)(8)(19)
Pro-Vision Solutions Holdings, LLC	Revolver	SOFR + 4.50%, 8.4% Cash	09/24	09/30	312		293		286	—%	(7)(8)(14)(19)
PSP Intermediate 4, LLC	First Lien Senior Secured Term Loan	EURIBOR + 4.75%, 7.3% Cash	05/22	05/29	928		856		926	0.1%	(3)(7)(8)(16)
PSP Intermediate 4, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	05/22	05/29	1,411		1,400		1,407	0.1%	(3)(7)(8)(19)
RA Outdoors, LLC	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.6% PIK	02/22	06/27	15,815		14,971		8,572	0.7%	(7)(8)(10)(12)(20)
RA Outdoors, LLC	Revolver	SOFR + 6.75%, 10.6% PIK	02/22	06/27	1,512		1,430		820	0.1%	(7)(8)(10)(12)(20)
Saab Purchaser, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	11/24	11/31	13,525		13,420		13,308	1.2%	(7)(8)(19)
Saab Purchaser, Inc.	Revolver	SOFR + 4.75%, 8.8% Cash	11/24	11/31	—		(18)		(38)	—%	(7)(8)(14)(19)
Scout Bidco B.V.	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 8.5% Cash	05/22	05/29	3,629		3,384		3,618	0.3%	(3)(7)(8)(17)
Scout Bidco B.V.	First Lien Senior Secured Term Loan	SOFR + 5.75%, 9.4% Cash	08/23	05/29	443		443		442	—%	(3)(7)(8)(20)
Scout Bidco B.V.	Revolver	EURIBOR + 5.50%, 8.0% Cash	05/22	05/29	1,096		1,064		1,093	0.1%	(3)(7)(8)(16)
Sinari Invest	First Lien Senior Secured Term Loan	EURIBOR + 4.50%, 7.0% Cash, 2.5% PIK	07/23	07/30	2,078		1,969		1,769	0.2%	(3)(7)(8)(16)
Sonicwall US Holdings Inc	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	06/25	04/30	4,916		3,499		1,593	0.1%	(8)(19)
Sonicwall US Holdings Inc	First Lien Senior Secured Term Loan	SOFR + 7.50%, 11.6% Cash	04/26	04/30	623		496		609	0.1%	(8)(19)
Stage 3 Holdco LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.6% Cash	06/26	06/32	2,941		2,888		2,892	0.3%	(7)(8)(14)(19)
Stage 3 Holdco LLC	Revolver	SOFR + 5.50%, 9.6% Cash	06/26	06/32	—		(7)		(7)	—%	(7)(8)(14)(19)
Syntax Midco 2 Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	10/25	10/32	2,627		2,591		2,627	0.2%	(7)(8)(14)(18)
Syntax Midco 2 Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	10/25	10/32	518		490		518	—%	(7)(8)(14)(18)
White Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.3% Cash	10/23	10/30	2,275		2,237		2,275	0.2%	(3)(7)(8)(19)
Zelda Luxco S.A.S	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.9% Cash, 1.3% PIK	07/25	07/32	2,913		2,919		2,882	0.3%	(3)(7)(8)(17)
Subtotal High Tech Industries (19.5%)*				241,755		231,958		223,475
Hotel, Gaming, & Leisure
Featherstone Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	11/25	05/31	1,009		1,009		1,009	0.1%	(3)(7)(8)(20)
Featherstone Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.50%, 9.2% Cash	05/25	05/31	1,290		1,285		1,290	0.1%	(3)(7)(8)(23)
Subtotal Hotel, Gaming, & Leisure (0.2%)*				2,299		2,294		2,299

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Media: Advertising, Printing, & Publishing
ASC Communications, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	07/22	07/28		$4,410			$4,397		$4,401	0.4%	(7)(8)(18)
ASC Communications, LLC	Revolver	SOFR + 4.50%, 8.4% Cash	07/22	07/28		—			(3)		(2)	—%	(7)(8)(14)(18)
Salsify Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.3% Cash	09/26	07/32		9,526			9,361		9,360	0.8%	(7)(8)(14)(19)
Salsify Inc.	Revolver	SOFR + 5.50%, 9.3% Cash	09/26	07/28		519			494		494	—%	(7)(8)(14)(19)
Superjet Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.05%, 8.8% Cash	12/21	05/30		4,562			4,533		4,502	0.4%	(7)(8)(19)
Superjet Buyer, LLC	Revolver	SOFR + 5.05%, 8.8% Cash	12/21	05/30		—			(8)		(19)	—%	(7)(8)(14)(19)
Subtotal Media: Advertising, Printing, & Publishing (1.6%)*			19,017		18,774			18,736
Media: Broadcasting & Subscription
Merlin Parent Holdings 2026, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.4% Cash	08/26	06/29		1,979			1,941		1,939	0.2%	(7)(8)(18)
Music Reports, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.0% Cash	08/20	10/26		6,923			6,923		6,840	0.6%	(7)(8)(18)
Sixty-Five Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 7.75%, 10.2% Cash	07/26	07/32		5,570			5,440		5,431	0.5%	(3)(7)(8)(16)
Sixty-Five Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 7.75%, 11.5% Cash	07/26	07/32		3,703			3,617		3,610	0.3%	(3)(7)(8)(22)
The Octave Music Group, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	06/24	04/29		59			59		55	—%	(8)(19)
Subtotal Media: Broadcasting & Subscription (1.6%)*			18,234		17,980			17,875
Media: Diversified & Production
BrightSign LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	10/21	10/28		4,983			4,972		4,983	0.4%	(7)(8)(18)
BrightSign LLC	Revolver	SOFR + 5.25%, 9.3% Cash	10/21	10/28		576			573		576	0.1%	(7)(8)(14)(18)
CM Acquisitions Holdings Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.6% Cash	05/19	01/28		6,635			6,617		6,635	0.6%	(7)(8)(19)
Footco 40 Limited	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 9.0% Cash	04/22	04/29		239			223		227	—%	(3)(7)(8)(16)
Footco 40 Limited	First Lien Senior Secured Term Loan	SONIA + 6.00%, 9.7% Cash	04/22	04/29		1,696			1,650		1,613	0.1%	(3)(7)(8)(23)
London Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	06/26	06/33		11,488			11,364		11,371	1.0%	(7)(8)(14)(19)
London Buyer, LLC	Revolver	SOFR + 5.00%, 8.9% Cash	06/26	06/33		—			(22)		(20)	—%	(7)(8)(14)(19)
Murphy Midco Limited	First Lien Senior Secured Term Loan	SONIA + 6.25%, 10.3% Cash	11/20	04/29		1,740			1,730		1,453	0.1%	(3)(7)(8)(23)
Rock Labor LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.3% Cash	09/23	09/29		6,438			6,327		6,438	0.6%	(7)(8)(19)
Rock Labor LLC	Revolver	SOFR + 5.50%, 9.3% Cash	09/23	09/29		—			(17)		—	—%	(7)(8)(14)(19)
Screenvision, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	04/25	04/30		5,145			5,067		5,072	0.4%	(7)(8)(19)
Screenvision, LLC	Revolver	SOFR + 5.00%, 8.8% Cash	04/25	04/30		—			(9)		(9)	—%	(7)(8)(14)(19)
Screenvision, LLC	Second Lien Senior Secured Term Loan	SOFR + 8.50%, 12.3% Cash	04/25	04/30		33,443			32,407		32,487	2.8%	(7)(8)(19)
Solo Buyer, L.P.	First Lien Senior Secured Term Loan	SOFR + 6.25%, 10.1% Cash	12/22	11/29		15,060			14,855		14,669	1.3%	(7)(8)(19)
Solo Buyer, L.P.	Revolver	SOFR + 6.25%, 10.1% Cash	12/22	12/28		831			812		779	0.1%	(7)(8)(14)(19)
Vital Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.5% Cash	06/21	06/30		13,160			13,069		13,093	1.1%	(7)(8)(20)
Subtotal Media: Diversified & Production (8.7%)*			101,434		99,618			99,367
Metals & Mining
Arch Global Precision LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 9.1% Cash, 0.5% PIK	04/19	05/28		8,836			8,836		8,341	0.7%	(7)(8)(19)
Subtotal Metals & Mining (0.7%)*				8,836			8,836			8,341

Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount	Cost	FairValue	% of Net Assets *	Notes
Services: Business
Accelevation LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	06/26	01/31	$4,949	$4,878	$4,949	0.4%	(7)(8)(18)
Accelevation LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.7% Cash	01/25	01/31	1,430	1,414	1,430	0.1%	(7)(8)(14)(18)
Accelevation LLC	Revolver	SOFR + 5.00%, 8.7% Cash	01/25	01/31	—	(9)	—	—%	(7)(8)(14)(18)
Acogroup	First Lien Senior Secured Term Loan	EURIBOR + 2.90%, 6.4% PIK, 4.0% PIK	03/22	04/28	8,782	8,051	1,317	0.1%	(3)(7)(8)(10)(16)
Adhefin International	First Lien Senior Secured Term Loan	EURIBOR + 4.98%, 7.6% Cash	05/23	05/30	2,298	2,209	2,287	0.2%	(3)(7)(8)(14)(16)
AlliA Insurance Brokers NV	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 8.8% Cash	03/23	03/30	5,329	4,954	5,329	0.5%	(3)(7)(8)(17)
Apex Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 6.75%, 10.6% Cash	01/20	01/27	3,395	3,246	3,393	0.3%	(3)(7)(8)(22)
Apex Bidco Limited	Subordinated Senior Unsecured Term Loan	9.0% PIK	01/20	07/27	420	412	420	—%	(3)(7)
ARC Interco Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	11/25	11/31	7,050	6,960	6,949	0.6%	(7)(8)(14)(19)
ARC Interco Purchaser, LLC	Revolver	SOFR + 5.00%, 9.1% Cash	11/25	11/31	—	(13)	(16)	—%	(7)(8)(14)(19)
Artemis Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.6% Cash	11/24	11/31	634	595	622	0.1%	(3)(7)(8)(14)(16)
Auxi International	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 8.6% Cash	12/19	01/28	1,590	1,551	1,590	0.1%	(3)(7)(8)(16)
Auxi International	First Lien Senior Secured Term Loan	SONIA + 5.75%, 9.5% Cash	04/21	01/28	890	918	890	0.1%	(3)(7)(8)(22)
AWP Group Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 6.2% Cash, 3.1% PIK	04/26	12/32	8,564	8,504	8,510	0.7%	(7)(8)(18)
AWP Group Holdings, Inc.	Revolver	SOFR + 5.25%, 9.3% Cash	04/26	12/32	444	433	434	—%	(7)(8)(14)(18)
Azalea Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	11/21	11/27	4,701	4,682	4,701	0.4%	(7)(8)(18)
Azalea Buyer, Inc.	Revolver	SOFR + 5.25%, 9.2% Cash	11/21	11/27	—	(2)	—	—%	(7)(8)(14)(18)
Azalea Buyer, Inc.	Subordinated Term Loan	12.0% PIK	11/21	05/28	2,231	2,223	2,231	0.2%	(7)
Basin Innovation Group, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	12/24	12/30	8,004	7,916	7,939	0.7%	(7)(8)(18)
Basin Innovation Group, LLC	Revolver	SOFR + 4.75%, 8.5% Cash	12/24	12/30	—	(20)	(15)	—%	(7)(8)(14)(18)
BNI Intermediate Holdings, LLC	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.7% Cash	07/26	08/33	12,148	12,122	11,966	1.0%	(7)(8)(16)
BNI Intermediate Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.1% Cash	07/26	08/33	175	166	166	—%	(7)(8)(14)(19)
BNI Intermediate Holdings, LLC	Revolver	SOFR + 5.25%, 9.1% Cash	07/26	08/33	—	(29)	(30)	—%	(7)(8)(14)(19)
Bounteous, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	08/21	08/29	4,043	4,030	4,030	0.4%	(7)(8)(19)
British Engineering Services Holdco Limited	First Lien Senior Secured Term Loan	SONIA + 2.80%, 6.8% Cash, 5.0% PIK	12/20	12/28	16,883	16,958	15,364	1.3%	(3)(7)(8)(23)
Broadway Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 4.25%, 8.3% Cash	12/25	12/32	2,541	2,506	2,513	0.2%	(7)(8)(14)(19)
Broadway Buyer, LLC	Revolver	SOFR + 4.25%, 8.3% Cash	12/25	12/32	97	88	90	—%	(7)(8)(14)(19)
Caldwell & Gregory LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	09/24	09/30	14,780	14,624	14,595	1.3%	(7)(8)(19)
Caldwell & Gregory LLC	Revolver	SOFR + 4.75%, 8.8% Cash	09/24	09/30	—	(25)	(31)	—%	(7)(8)(14)(19)
CGI Parent, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	02/22	02/28	13,436	13,332	13,436	1.2%	(7)(8)(19)
CGI Parent, LLC	Revolver	SOFR + 4.50%, 8.2% Cash	02/22	02/28	—	(8)	—	—%	(7)(8)(14)(19)
Cherry Bekaert Advisory LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	06/26	06/30	4,638	4,572	4,573	0.4%	(7)(8)(19)
Cherry Bekaert Advisory LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	06/26	06/30	4,673	4,585	4,617	0.4%	(7)(8)(14)(19)

Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount	Cost	FairValue	% of Net Assets *	Notes
Cherry Bekaert Advisory LLC	Revolver	SOFR + 4.75%, 8.8% Cash	06/26	06/30	$—	$(10)	$(14)	—%	(7)(8)(14)(19)
CloudOne Digital Corp.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	08/25	08/31	12,200	12,072	12,107	1.1%	(7)(8)(19)
CloudOne Digital Corp.	Revolver	SOFR + 4.75%, 8.5% Cash	08/25	08/31	—	(27)	(21)	—%	(7)(8)(14)(19)
CMT Opco Holding, LLC (Concept Machine)	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.0% Cash, 1.0% PIK	01/20	02/27	4,711	4,705	4,084	0.4%	(7)(8)(19)
Comply365, LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	04/22	12/29	10,728	10,643	10,428	0.9%	(7)(8)(19)
Comply365, LLC	Revolver	SOFR + 5.50%, 9.4% Cash	04/22	12/29	477	467	446	—%	(7)(8)(14)(19)
Coyo Uprising GmbH	First Lien Senior Secured Term Loan	EURIBOR + 6.25%, 8.8% Cash	09/21	09/28	5,442	5,468	5,289	0.5%	(3)(7)(8)(14)(17)
DISA Holdings Corp.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	11/22	09/28	6,826	6,748	6,826	0.6%	(7)(8)(18)
DISA Holdings Corp.	Revolver	SOFR + 5.00%, 8.9% Cash	11/22	09/28	—	(5)	—	—%	(7)(8)(14)(18)
Dunlipharder B.V.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.1% Cash	06/22	06/28	1,000	995	1,000	0.1%	(3)(7)(8)(18)
EFC International	Senior Unsecured Term Loan	11.0% Cash, 2.5% PIK	03/23	05/28	842	828	836	0.1%	(7)
Electric Equipment & Engineering Co.	First Lien Senior Secured Term Loan	10.5% Cash, 3.0% PIK	12/24	12/30	741	729	729	0.1%	(7)
Events Software BidCo Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 6.50%, 11.0% Cash	03/22	03/28	1,730	1,840	1,589	0.1%	(3)(7)(8)(24)
Expert Institute Group Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	03/25	03/32	5,390	5,326	5,316	0.5%	(7)(8)(14)(20)
Expert Institute Group Inc.	Revolver	SOFR + 4.75%, 8.8% Cash	03/25	03/32	—	(5)	(7)	—%	(7)(8)(14)(20)
Greenhill II BV	First Lien Senior Secured Term Loan	EURIBOR + 4.85%, 7.3% Cash	07/22	07/29	1,704	1,586	1,704	0.1%	(3)(7)(8)(14)(16)
HEKA Invest	First Lien Senior Secured Term Loan	EURIBOR + 6.25%, 8.8% Cash	10/22	10/29	5,356	4,577	4,890	0.4%	(3)(7)(8)(16)
HS Advisory Buyer LLC	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.1% Cash	03/25	03/30	2,344	2,313	2,312	0.2%	(7)(8)(14)(19)
HS Advisory Buyer LLC	Revolver	SOFR + 5.00%, 9.1% Cash	03/25	03/30	280	274	273	—%	(7)(8)(14)(19)
HSL Compliance	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	03/25	03/32	3,921	3,763	3,864	0.3%	(3)(7)(8)(14)(22)
Hydratech Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	09/24	12/29	8,945	8,901	8,854	0.8%	(7)(8)(14)(19)
Hydratech Holdings, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	09/26	09/32	1,031	1,010	1,010	0.1%	(7)(8)(14)(19)
Hydratech Holdings, Inc.	Revolver	SOFR + 5.25%, 9.3% Cash	09/24	12/29	763	757	751	0.1%	(7)(8)(14)(19)
IMS Services Enterprises, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.6% Cash	04/26	04/33	8,486	8,394	8,405	0.7%	(7)(8)(14)(20)
IMS Services Enterprises, LLC	Revolver	SOFR + 4.75%, 8.6% Cash	04/26	04/33	173	162	164	—%	(7)(8)(14)(20)
Infoniqa Holdings GmbH	First Lien Senior Secured Term Loan	EURIBOR + 4.75%, 7.5% Cash	11/21	11/28	2,985	2,943	2,949	0.3%	(3)(7)(8)(17)
Integrated Precision Systems, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	05/26	05/32	6,896	6,814	6,820	0.6%	(7)(8)(14)(18)
Integrated Precision Systems, LLC	Revolver	SOFR + 4.75%, 8.5% Cash	05/26	05/32	370	359	360	—%	(7)(8)(14)(18)
Interstellar Group B.V.	First Lien Senior Secured Term Loan	EURIBOR + 6.20%, 8.5% Cash	08/22	08/29	1,795	1,657	1,719	0.2%	(3)(7)(8)(16)
Isolstar Holding NV (IPCOM)	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.7% Cash	10/22	10/29	5,669	4,873	5,669	0.5%	(3)(7)(8)(16)
LeadsOnline, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	02/22	02/30	9,888	9,844	9,851	0.9%	(7)(8)(19)
LeadsOnline, LLC	Revolver	SOFR + 4.50%, 8.6% Cash	02/22	02/30	—	(11)	(10)	—%	(7)(8)(14)(19)
LHS Borrower, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	08/25	09/31	9,039	8,922	8,677	0.8%	(7)(8)(18)

Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount	Cost	FairValue	% of Net Assets *	Notes
LHS Borrower, LLC	Revolver	SOFR + 5.25%, 9.2% Cash	08/25	09/31	$214	$204	$181	—%	(7)(8)(14)(18)
Long Term Care Group, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.0% Cash	04/22	09/27	8,710	8,668	8,458	0.7%	(7)(8)(19)
MB Purchaser, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.5% Cash	01/24	01/30	6,496	6,437	6,431	0.6%	(7)(8)(18)
MB Purchaser, LLC	Revolver	SOFR + 4.75%, 8.5% Cash	01/24	01/30	—	(7)	(8)	—%	(7)(8)(14)(18)
MC Group Ventures Corporation	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	06/24	06/27	5,668	5,649	5,265	0.5%	(7)(8)(19)
MC Group Ventures Corporation	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	07/21	06/27	4,289	4,276	4,006	0.4%	(7)(8)(19)
MIV Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	09/25	09/31	3,311	3,265	3,276	0.3%	(7)(8)(14)(19)
MIV Buyer, LLC	Revolver	SOFR + 4.75%, 8.8% Cash	09/25	09/31	—	(5)	(4)	—%	(7)(8)(14)(19)
Nationwide Legal Services, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	05/26	05/32	8,511	8,383	8,393	0.7%	(7)(8)(14)(19)
Nationwide Legal Services, LLC	Revolver	SOFR + 4.50%, 8.6% Cash	05/26	05/32	—	(14)	(13)	—%	(7)(8)(14)(19)
NF Holdco, LLC	First Lien Senior Secured Term Loan	SOFR + 6.50%, 10.6% Cash	03/23	04/29	6,187	6,095	5,630	0.5%	(7)(8)(19)
NF Holdco, LLC	Revolver	SOFR + 6.50%, 10.6% Cash	03/23	04/29	1,105	1,090	1,005	0.1%	(7)(8)(19)
Origin Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.7% Cash	06/21	06/28	336	357	336	—%	(3)(7)(8)(16)
Origin Bidco Limited	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.8% Cash	06/21	06/28	533	529	533	—%	(3)(7)(8)(19)
Proceed Legal Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	03/26	03/32	11,302	11,183	11,194	1.0%	(7)(8)(14)(19)
Proceed Legal Inc.	Revolver	SOFR + 4.50%, 8.6% Cash	03/26	03/32	—	(4)	(4)	—%	(7)(8)(14)(19)
Qima Finance LTD	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.6% Cash	04/26	07/32	437	440	428	—%	(3)(7)(8)(16)
Qima Finance LTD	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	07/25	07/32	3,082	2,996	2,993	0.3%	(3)(7)(8)(14)(19)
Real Chemistry Intermediate III, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	04/25	04/32	4,627	4,613	4,581	0.4%	(7)(8)(14)(19)
Real Chemistry Intermediate III, Inc.	Revolver	SOFR + 4.50%, 8.6% Cash	04/25	04/32	—	(4)	(9)	—%	(7)(8)(14)(19)
RKD Group, LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	05/25	05/31	12,580	12,458	12,498	1.1%	(7)(8)(14)(19)
RKD Group, LLC	Revolver	SOFR + 5.25%, 9.0% Cash	05/25	05/31	511	501	504	—%	(7)(8)(14)(19)
ROI Solutions LLC	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	10/24	10/29	9,062	8,935	8,190	0.7%	(7)(8)(14)(19)
ROI Solutions LLC	Revolver	SOFR + 5.25%, 9.3% Cash	10/24	10/29	—	(33)	(242)	—%	(7)(8)(14)(19)
RPX Corporation	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	08/24	08/30	15,566	15,402	15,451	1.4%	(7)(8)(18)
RPX Corporation	Revolver	SOFR + 5.50%, 9.4% Cash	08/24	08/30	—	(15)	(11)	—%	(7)(8)(14)(18)
Ruby Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.25%, 9.9% Cash	12/25	12/32	1,787	1,664	1,741	0.2%	(3)(7)(8)(14)(24)
Sansidor BV	First Lien Senior Secured Term Loan	EURIBOR + 5.45%, 8.0% Cash	09/24	09/31	1,041	982	995	0.1%	(3)(7)(8)(14)(16)
Sapphire Bidco S.A.R.L.	First Lien Senior Secured Term Loan	EURIBOR + 5.00%, 7.5% Cash	10/25	04/32	1,783	1,781	1,759	0.2%	(3)(7)(8)(14)(16)
Sapphire Bidco S.A.R.L.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.6% Cash	06/26	04/32	57	57	57	—%	(3)(7)(8)(19)
SBP Holdings LP	First Lien Senior Secured Term Loan	SOFR + 5.00%, 8.9% Cash	03/23	03/28	8,561	8,433	8,561	0.7%	(7)(8)(14)(18)
SBP Holdings LP	Revolver	SOFR + 5.00%, 8.9% Cash	03/23	03/28	—	(21)	—	—%	(7)(8)(14)(18)
Scaled Agile, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.3% PIK	12/21	12/28	1,835	1,822	567	—%	(7)(8)(10)(20)
Scaled Agile, Inc.	Revolver	SOFR + 5.50%, 9.3% PIK	12/21	12/28	349	347	108	—%	(7)(8)(10)(20)
SmartShift Group, Inc.	First Lien Senior Secured Term Loan	SOFR + 5.00%, 9.2% Cash	09/23	09/29	12,740	12,562	12,740	1.1%	(7)(8)(20)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
SmartShift Group, Inc.	Revolver	SOFR + 5.00%, 9.2% Cash	09/23	09/29	$—		$(21)		$—	—%	(7)(8)(14)(20)
Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.)	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	11/22	05/28	2,618		2,600		2,618	0.2%	(7)(8)(19)
Sparus Holdings, LLC (f/k/a Sparus Holdings, Inc.)	Revolver	SOFR + 4.50%, 8.6% Cash	11/22	05/28	—		—		—	—%	(7)(8)(14)(19)
Starnmeer B.V.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.2% Cash	10/21	10/28	2,500		2,496		2,483	0.2%	(3)(7)(8)(20)
Sunrise Acquisition Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.25%, 9.0% Cash	11/25	11/32	2,662		2,568		2,607	0.2%	(3)(7)(8)(14)(22)
TA SL Cayman Aggregator Corp.	Subordinated Term Loan	SOFR + 7.75%, 11.4% PIK	07/21	07/28	3,530		3,519		3,530	0.3%	(7)(8)(20)
Technology Service Stream BidCo Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.00%, 9.8% Cash	06/24	07/30	1,007		949		999	0.1%	(3)(7)(8)(14)(24)
TSYL Corporate Buyer, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.3% Cash	12/22	12/31	20,110		19,926		20,110	1.8%	(7)(8)(14)(19)
TSYL Corporate Buyer, Inc.	Revolver	SOFR + 4.50%, 8.3% Cash	12/22	12/31	—		(4)		—	—%	(7)(8)(14)(19)
Turnberry Solutions, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.0% Cash	07/21	03/28	4,786		4,764		4,786	0.4%	(7)(8)(19)
UBC Ledgers Holding AB	First Lien Senior Secured Term Loan	EURIBOR + 5.25%, 7.8% Cash	07/24	12/30	744		709		744	0.1%	(3)(7)(8)(16)
UBC Ledgers Holding AB	First Lien Senior Secured Term Loan	STIBOR + 5.25%, 7.4% Cash	12/23	12/30	1,606		1,499		1,606	0.1%	(3)(7)(8)(14)(28)
UHY Advisors, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	11/24	11/31	15,353		15,290		15,353	1.3%	(7)(8)(14)(19)
UHY Advisors, Inc.	Revolver	SOFR + 4.75%, 8.8% Cash	11/24	11/31	740		727		740	0.1%	(7)(8)(14)(19)
USLS Acquisition, Inc. (f/k/a US Legal Support, Inc.)	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.3% Cash	11/18	06/27	17,795		17,759		17,712	1.5%	(7)(8)(18)
Utac Ceram	First Lien Senior Secured Term Loan	EURIBOR + 5.90%, 8.5% Cash	09/20	09/27	1,776		1,810		1,769	0.2%	(3)(7)(8)(16)
Utac Ceram	First Lien Senior Secured Term Loan	SOFR + 5.90%, 10.0% Cash	02/21	09/27	3,668		3,655		3,653	0.3%	(3)(7)(8)(19)
Webcentral DEH	First Lien Senior Secured Term Loan	EURIBOR + 6.00%, 8.6% Cash	07/26	12/30	—		(95)		(98)	—%	(3)(7)(8)(14)(16)
World 50, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.2% Cash	03/24	03/30	13,567		13,391		13,539	1.2%	(7)(8)(19)
World 50, Inc.	Revolver	SOFR + 4.50%, 8.2% Cash	03/24	03/30	—		(11)		(2)	—%	(7)(8)(14)(19)
Xeinadin Bidco Limited	First Lien Senior Secured Term Loan	EURIBOR + 5.75%, 8.8% Cash	05/22	05/29	318		305		318	—%	(3)(7)(8)(17)
Xeinadin Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 5.75%, 9.5% Cash	05/22	05/29	9,349		8,724		9,349	0.8%	(3)(7)(8)(23)
Xeinadin Bidco Limited	Subordinated Term Loan	SONIA + 11.00%, 14.7% PIK	05/22	05/29	5,125		4,843		5,043	0.4%	(3)(7)(8)(23)
Subtotal Services: Business (41.3%)*				491,791		483,164		473,568
Services: Consumer
Application Boot Camp LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.8% Cash	04/25	04/31	1,215		1,201		1,217	0.1%	(7)(8)(19)
Application Boot Camp LLC	Revolver	SOFR + 4.75%, 8.8% Cash	04/25	04/31	—		(4)		—	—%	(7)(8)(14)(19)
Application Boot Camp LLC	Subordinated Term Loan	14.0% Cash	04/25	04/30	82		82		83	—%	(7)
Arc Education	First Lien Senior Secured Term Loan	EURIBOR + 4.00%, 7.1% Cash, 2.2% PIK	07/22	07/29	977		926		957	0.1%	(3)(7)(8)(14)(17)
Archimede	First Lien Senior Secured Term Loan	EURIBOR + 4.00%, 6.6% Cash	10/20	04/29	6,349		6,202		5,683	0.5%	(3)(7)(8)(16)
Cascade Residential Services LLC	First Lien Senior Secured Term Loan	SOFR + 6.00%, 9.8% Cash	10/23	10/29	4,559		4,498		3,953	0.3%	(7)(8)(18)
Cascade Residential Services LLC	Revolver	SOFR + 6.00%, 9.8% Cash	10/23	10/29	199		194		155	—%	(7)(8)(14)(18)
CEC Entertainment, LLC	First Lien Senior Secured Term Loan	SOFR + 6.00%, 10.1% Cash	09/25	09/30	3,413		3,370		3,372	0.3%	(7)(8)(19)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Express Wash Acquisition Company, LLC	First Lien Senior Secured Term Loan	SOFR + 6.25%, 10.0% Cash	04/25	04/31	$3,236		$3,212		$3,062	0.3%	(7)(8)(19)
Express Wash Acquisition Company, LLC	Revolver	SOFR + 6.25%, 10.0% Cash	04/25	04/31	—		(1)		(10)	—%	(7)(8)(14)(19)
FL Hawk Intermediate Holdings, Inc. (f/k/a Fineline Technologies, Inc.)	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.6% Cash	10/24	02/30	6,150		6,127		6,150	0.5%	(7)(8)(19)
Global Academic Group Limited	First Lien Senior Secured Term Loan	BBSY + 4.91%, 9.5% Cash	07/22	07/27	2,814		2,782		2,814	0.2%	(3)(7)(8)(24)
Global Academic Group Limited	First Lien Senior Secured Term Loan	BKBM + 4.91%, 8.0% Cash	07/22	07/27	620		673		620	0.1%	(3)(7)(8)(29)
HomeX Services Group LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.4% Cash	11/23	11/29	2,116		2,092		2,050	0.2%	(7)(8)(18)
HomeX Services Group LLC	Revolver	SOFR + 4.50%, 8.4% Cash	11/23	11/29	93		89		82	—%	(7)(8)(14)(18)
InvoCare Limited	First Lien Senior Secured Term Loan	BBSY + 5.00%, 9.5% Cash	11/23	11/29	2,253		2,085		2,243	0.2%	(3)(7)(8)(14)(24)
Lido Purchaser, Inc.	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.7% Cash	04/26	04/33	4,282		4,243		4,247	0.4%	(7)(8)(14)(18)
Marmoutier Holding B.V.	Super Senior Secured Term Loan	EURIBOR + 6.00%, 8.6% Cash	03/24	12/28	214		193		79	—%	(3)(7)(8)(17)
Marmoutier Holding B.V.	First Lien Senior Secured Term Loan	EURIBOR + 6.75%, 9.1% Cash	06/25	12/28	250		255		164	—%	(3)(7)(8)(14)(17)
Marmoutier Holding B.V.	Revolver	EURIBOR + 5.50%, 8.1% Cash	12/21	06/27	196		173		72	—%	(3)(7)(8)(17)
Panther Bidco Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.75%, 10.3% Cash	03/26	12/29	4,169		4,091		4,094	0.4%	(3)(7)(8)(14)(24)
Premium Franchise Brands, LLC	First Lien Senior Secured Term Loan	SOFR + 5.75%, 10.0% Cash	12/20	12/26	10,061		10,046		10,020	0.9%	(7)(8)(19)
QPE7 SPV1 BidCo Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 5.75%, 10.6% Cash	09/21	09/29	1,741		1,789		1,643	0.1%	(3)(7)(8)(25)
Selenium Designated Activity Company	First Lien Senior Secured Term Loan	EURIBOR + 4.88%, 7.6% Cash	03/25	03/32	3,113		2,917		3,113	0.3%	(3)(7)(8)(17)
Subtotal Services: Consumer (4.9%)*				58,102		57,235		55,863
Structured Product
Catawba River Limited	Structured - Junior Note	N/A	10/22	10/31	4,624		4,071		2,274	0.2%	(3)(7)(13)
Magnetite XIX, Limited	Subordinated Notes	SOFR + 8.00%, 11.7% Cash	02/22	04/34	5,250		5,250		4,773	0.4%	(3)(8)(19)
Perimeter Master Note Business Trust	Structured Secured Note - Class A	4.7% Cash	05/22	05/31	182		182		180	—%	(3)(7)
Perimeter Master Note Business Trust	Structured Secured Note - Class B	5.4% Cash	05/22	05/31	182		182		180	—%	(3)(7)
Perimeter Master Note Business Trust	Structured Secured Note - Class C	5.9% Cash	05/22	05/31	182		182		180	—%	(3)(7)
Perimeter Master Note Business Trust	Structured Secured Note - Class D	8.5% Cash	05/22	05/31	182		182		181	—%	(3)(7)
Perimeter Master Note Business Trust	Structured Secured Note - Class E	11.4% Cash	05/22	05/31	9,274		9,274		9,240	0.8%	(3)(7)
US Bank National Association Series 2025-1	Structured Note - Class R	SOFR + 7.50%, 11.2% Cash	03/25	02/32	2,955		2,955		2,973	0.3%	(3)(7)(8)(19)
US Bank National Association Series 2025-2	Structured Note - Class R	SOFR + 7.00%, 10.6% Cash	09/25	08/32	2,887		2,887		2,911	0.3%	(3)(8)(18)
Vista Global Holding Ltd	Structured Secured Note - Class C	9.5% Cash	12/24	02/30	475		475		457	—%	(3)
Subtotal Structured Product (2.0%)*				26,193		25,640		23,349
Telecommunications
Mercell Holding AS	First Lien Senior Secured Term Loan	NIBOR + 5.25%, 9.9% Cash	08/22	08/29	3,298		3,205		3,130	0.3%	(3)(7)(8)(31)
Permaconn BidCo Pty Ltd	First Lien Senior Secured Term Loan	BBSY + 4.75%, 9.4% Cash	12/21	07/29	2,850		2,726		2,850	0.2%	(3)(7)(8)(24)
UKFast Leaders Limited	First Lien Senior Secured Term Loan	SONIA + 7.25%, 11.3% Cash	09/20	09/27	12,419		11,961		11,922	1.0%	(3)(7)(8)(22)
Subtotal Telecommunications (1.6%)*				18,567		17,892		17,902

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Transportation: Cargo
Argus Intermediate, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.9% Cash	12/25	12/31	$3,797		$3,723		$3,797	0.3%	(7)(8)(14)(19)
Argus Intermediate, LLC	Revolver	SOFR + 4.75%, 8.9% Cash	12/25	12/31	157		146		157	—%	(7)(8)(14)(19)
Armstrong Transport Group, LLC	First Lien Senior Secured Term Loan	SOFR + 4.75%, 8.6% Cash	06/26	06/33	7,241		7,111		7,119	0.6%	(7)(8)(14)(19)
Armstrong Transport Group, LLC	Revolver	SOFR + 4.75%, 8.6% Cash	06/26	06/33	471		449		450	—%	(7)(8)(14)(19)
FitzMark Buyer, LLC	First Lien Senior Secured Term Loan	SOFR + 4.50%, 8.7% Cash	12/20	12/26	3,994		3,991		3,994	0.3%	(7)(8)(19)
FragilePak LLC	First Lien Senior Secured Term Loan	SOFR + 5.75%, 10.0% Cash	05/21	05/28	4,461		4,445		4,394	0.4%	(7)(8)(19)
Honour Lane Logistics Holdings Limited	First Lien Senior Secured Term Loan	SOFR + 5.35%, 9.1% Cash	04/22	11/28	6,667		6,598		6,467	0.6%	(3)(7)(8)(18)
ITI Intermodal, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.50%, 10.6% Cash	12/21	12/27	11,770		11,672		11,770	1.0%	(7)(8)(19)
ITI Intermodal, Inc.	First Lien Senior Secured Term Loan	SOFR + 6.25%, 10.4% Cash	12/21	12/27	780		777		780	0.1%	(7)(8)(19)
ITI Intermodal, Inc.	Revolver	SOFR + 6.50%, 10.6% Cash	12/21	12/27	226		217		225	—%	(7)(8)(14)(19)
PAS Chassis Holdco LLC	Second Lien Senior Secured Term Loan	SOFR + 5.50%, 9.4% Cash	01/26	12/32	14,430		14,164		14,175	1.2%	(7)(8)(18)
R1 Holdings, LLC	First Lien Senior Secured Term Loan	SOFR + 6.75%, 10.6% Cash	12/22	12/28	6,017		5,935		5,795	0.5%	(7)(8)(19)
R1 Holdings, LLC	Revolver	SOFR + 6.75%, 10.6% Cash	12/22	12/28	1,508		1,483		1,439	0.1%	(7)(8)(14)(19)
REP SEKO Merger Sub, LLC	First Lien Senior Secured Term Loan	SOFR + 7.00%, 10.7% PIK	11/24	05/30	2,993		2,988		1,473	0.1%	(7)(8)(10)(19)
REP SEKO Merger Sub, LLC	First Lien Senior Secured Term Loan	SOFR + 10.50%, 4.7% Cash, 9.5% PIK	11/25	11/29	424		424		424	—%	(7)(8)(19)
REP SEKO Merger Sub, LLC	First Out Term Loan	SOFR + 10.00%, 13.7% PIK	11/24	11/29	1,233		1,219		1,233	0.1%	(7)(8)(19)
Transportation Insight, LLC	First Lien Senior Secured Term Loan	SOFR + 7.00%, 11.1% PIK	12/25	01/29	4,216		4,216		4,216	0.4%	(7)(8)(19)
Transportation Insight, LLC	Revolver	SOFR + 5.50%, 9.8% Cash	12/25	01/29	641		589		641	0.1%	(7)(8)(14)(19)
Subtotal Transportation: Cargo (6.0%)*				71,026		70,147		68,549
Transportation: Consumer
Breeze Aviation Group Inc	Second Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	06/25	08/30	2,175		2,175		2,137	0.2%	(7)(8)(19)
Breeze Aviation Group Inc	Second Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	06/25	09/30	2,201		2,201		2,163	0.2%	(7)(8)(19)
Breeze Aviation Group Inc	Second Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	06/25	09/30	2,201		2,201		2,163	0.2%	(7)(8)(19)
Breeze Aviation Group Inc	Second Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	03/26	03/31	2,404		2,387		2,353	0.2%	(7)(8)(19)
Breeze Aviation Group Inc	Second Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	03/26	03/31	2,404		2,387		2,353	0.2%	(7)(8)(19)
Breeze Aviation Group Inc	Second Lien Senior Secured Term Loan	SOFR + 7.50%, 11.2% Cash	03/26	03/31	2,404		2,387		2,353	0.2%	(7)(8)(19)
International Fleet Financing No.2 B.V.	Revolver	10.5% Cash	07/25	06/27	8,791		8,964		8,678	0.8%	(3)(7)(14)
Subtotal Transportation: Consumer (1.9%)*				22,580		22,702		22,200
Utilities: Electric
KAMC Holdings Inc.	First Lien Senior Secured Term Loan	SOFR + 5.25%, 9.0% Cash	08/25	08/31	5,394		5,325		5,200	0.5%	(7)(8)(19)
KAMC Holdings Inc.	Revolver	SOFR + 5.25%, 9.0% Cash	08/25	08/31	92		84		69	—%	(7)(8)(14)(19)
Panoche Energy Center LLC	First Lien Senior Secured Bond	6.9% Cash	07/22	07/29	2,359		2,241		2,347	0.2%	(7)
Prime Power Solutions, LLC	Second Lien Senior Secured Term Loan	SOFR + 5.50%, 9.3% Cash	05/26	10/31	15,000		14,720		14,724	1.3%	(7)(8)(19)
Subtotal Utilities: Electric (2.0%)*				22,845		22,370		22,340
Subtotal Debt Investments (162.1%)*				1,934,118		1,893,851		1,853,305

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Units / Shares · Cost · FairValue · % of Net Assets * · Notes
Equity Investments
Aerospace & Defense
Accurus Aerospace Corporation	LLC Units		04/25		18,151.3		$18	$16	—%	(7)(13)
Accurus Aerospace Corporation	Common Stock		04/22		437,623.3		438	394	—%	(7)(13)
AFT Fastener Holdings, LLC	Class A1 Preferred Units	12.0% PIK	07/26		351.9		352	352	—%	(7)(13)
AFT Fastener Holdings, LLC	Class B Common Units		07/26		351.9		—	—	—%	(7)(13)
Balaena Maritime (UK) Limited	Warrants		06/26		78		—	—	—%	(3)(7)(13)
Compass Precision, LLC	LLC Units		04/22		46,085.6		125	390	—%	(7)(13)
GB Eagle Buyer, Inc.	Partnership Units		12/22		687		687	3,365	0.3%	(13)
Megawatt Acquisitionco, Inc.	Common Stock		03/24		205		21	—	—%	(7)(13)
Megawatt Acquisitionco, Inc.	Preferred Stock		03/24		1,842		184	217	—%	(7)(13)
Surface Finishing Technologies Inc.	Common Stock		04/26		192,455		192	254	—%	(7)(13)
Whitcraft Holdings, Inc.	LP Units		02/23		63,087.1		631	1,537	0.1%	(7)(13)
Subtotal Aerospace & Defense (0.6%)*					2,648		6,525
Automotive
Burgess Point Purchaser Corporation	LP Units		07/22		455		455	423	—%	(7)(13)
Randys Holdings, Inc.	Common Stock		11/22		5,333		533	655	0.1%	(7)(13)
Recon Buyer LLC	LLC Units		11/25		116.2		116	141	—%	(7)(13)
SPATCO Energy Solutions, LLC	Common Stock		07/24		285,839		287	192	—%	(7)(13)
SVI International LLC	LLC Units		03/24		207,921		208	395	—%	(7)
Velocity Pooling Vehicle, LLC	Common Stock		02/22		4,676		60	2	—%	(7)(13)
Velocity Pooling Vehicle, LLC	Warrants		02/22		5,591		72	3	—%	(7)(13)
Subtotal Automotive (0.2%)*					1,731		1,811
Banking, Finance, Insurance, & Real Estate
Accelerant Holdings	Common Stock		07/25		279,230		3,341	5,509	0.5%	(13)
Aegros Holdco 2 Ltd	Common Stock		05/25		889,464		12	685	0.1%	(3)(7)(13)
Alpha Holdings LLC	LLC Units		07/26		402,839		403	403	—%	(7)(13)
Bishop Street Underwriters, LLC	LLC Units		07/25		188,809.2		287	349	—%	(7)
Credit Key Funding II LLC	Preferred Stock	10.0% Cash, 10.0% PIK	12/25		732,019		2,769	2,774	0.2%	(7)
Credit Key Funding II LLC	Warrants		12/25		862,753		—	17	—%	(7)(13)
ERS Holdings, LLC	LLC Units		01/26		45,975		54	54	—%	(7)(13)
Flywheel Holdings Segregated Portfolio 2025-2	LP Interest		06/25		3,422,190		3,422	4,209	0.4%	(3)(7)(13)
Flywheel Re Segregated Portfolio 2022-4	Preferred Stock		08/22		2,828,286		1,031	1,584	0.1%	(3)(7)
iCreditWorks LLC	Preferred Stock	17.5% PIK	03/25		59,462.7		12,338	12,032	1.1%	(7)
iCreditWorks LLC	Warrants		03/25		23,692.2		—	—	—%	(7)(13)
Pinion Holdings Limited	Preferred Stock	10.0% PIK	02/26		459,511.1		460	460	—%	(3)(7)
Resolute Investment Managers, Inc.	Common Stock		03/24		51,428		—	—	—%	(7)(13)
Shelf Bidco Ltd	Common Stock		12/22		1,200,000		1,200	4,728	0.4%	(3)(7)(13)
Subtotal Banking, Finance, Insurance, & Real Estate (2.9%)*				25,317		32,804

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Units / Shares · Cost · FairValue · % of Net Assets * · Notes
Beverage, Food, & Tobacco
CTI Foods Holdings Co., LLC	Common Stock		02/24		21,031		$—	$1,597	0.1%	(7)(13)
GMF Parent, Inc.	LLC Units		12/25		138		138	113	—%	(7)(13)
Woodland Foods, LLC	Common Stock		12/21		1,663.30		1,663	2,095	0.2%	(7)(13)
Woodland Foods, LLC	Preferred Stock	20.0% PIK	04/24		364.00		601	745	0.1%	(7)
Woodland Foods, LLC	Preferred Stock	20.0% PIK	03/25		94.60		166	166	—%	(7)
Subtotal Beverage, Food, & Tobacco (0.4%)*					2,568		4,716
Capital Equipment
DAWGS Intermediate Holdings Co.	LLC Units		03/25		346.9		347	472	—%	(7)(13)
Polara Enterprises, L.L.C.	Partnership Units		12/21		7,409		741	3,456	0.3%	(7)
Process Insights Acquisition, Inc.	Common Stock		07/23		281		281	—	—%	(7)(13)
Process Insights Acquisition, Inc.	Class A Preferred Stock		05/26		28.84		17	—	—%	(7)(13)
Rapid Buyer LLC	LLC Units		10/24		533		533	570	—%	(7)(13)
TAPCO Buyer LLC	LLC Units		11/24		339		364	433	—%	(7)
Subtotal Capital Equipment (0.4%)*					2,283		4,931
Chemicals, Plastics, & Rubber
Americo Chemical Products, LLC	Common Stock		04/23		88,110		88	101	—%	(7)(13)
Aptus 1829. GmbH	Preferred Stock		09/21		13		120	87	—%	(3)(7)(13)
Aptus 1829. GmbH	Common Stock		09/21		48		12	—	—%	(3)(7)(13)
Polymer Solutions Group Holdings, LLC	Common Stock		02/22		74		—	—	—%	(7)(13)
Subtotal Chemicals, Plastics, & Rubber (—%)*				220		188
Construction & Building
BKF Buyer, Inc.	Common Stock		08/24		1,004,467		1,004	1,235	0.1%	(7)(13)
Subtotal Construction & Building (0.1%)*					1,004		1,235
Consumer goods: Durable
DecksDirect, LLC	Class A Units		04/24		1,016.1		47	—	—%	(7)(13)
DecksDirect, LLC	Common Stock		12/21		1,280.8		55	—	—%	(7)(13)
DecksDirect, LLC	Preferred Stock		03/25		9.5		11	—	—%	(7)(13)
Lifestyle Intermediate II, LLC	Class A Common Units		01/25		16,173.0		—	—	—%	(7)(12)(13)
Renovation Parent Holdings, LLC	Partnership Equity		11/21		202,393.6		202	271	—%	(7)(13)
RTIC Subsidiary Holdings, LLC	Class A Preferred Stock		02/22		145.347		4	—	—%	(7)(13)
RTIC Subsidiary Holdings, LLC	Class B Preferred Stock		02/22		145.347		—	—	—%	(7)(13)
RTIC Subsidiary Holdings, LLC	Class C Preferred Stock		02/22		7,844.03		450	17	—%	(7)(13)
RTIC Subsidiary Holdings, LLC	Common Stock		02/22		153		—	—	—%	(7)(13)
Serta Simmons Bedding LLC	Common Stock		06/23		109,127		1,630	627	0.1%	(13)
Team Air Distributing, LLC	Partnership Equity		05/23		526,326.5		523	—	—%	(7)(13)
Team Air Distributing, LLC	Preferred Stock		06/26		48,431.3		48	—	—%	(7)(13)
Team Air Distributing, LLC	Preferred Stock		03/26		88,888.9		93	—	—%	(7)(13)
Terrybear, Inc.	Partnership Equity		04/22		24,358.97		239	—	—%	(7)(13)
Terrybear, Inc.	Preferred Stock		07/26		345,160.5		166	169	—%	(7)(13)
Subtotal Consumer goods: Durable (0.1%)*					3,468		1,084
Consumer goods: Non-durable
CCFF Buyer, LLC	LLC Units		02/24		233		233	279	—%	(7)(13)
David Wood Baking UK Ltd	Common Stock		09/26		333		—	—	—%	(3)(7)(13)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Units / Shares · Cost · FairValue · % of Net Assets * · Notes
Ice House America, L.L.C.	LLC Units		01/24		2,892.5		$289	$212		—%		(7)(13)
Safety Products Holdings, LLC	Preferred Stock		12/20		378.7		380	659		0.1%		(7)(13)
Subtotal Consumer goods: Non-durable (0.1%)*				902		1,150
Containers, Packaging, & Glass
Diversified Packaging Holdings LLC	LLC Units		06/24		2,769		277	628		0.1%		(7)(13)
Five Star Holding LLC	LLC Units		05/22		966.99		967	653		0.1%		(7)(13)
Subtotal Containers, Packaging, & Glass (0.1%)*				1,244		1,281
Energy: Oil & Gas
Ferrellgas L.P.	Opco Preferred Units		03/21		2,886		2,799	3,030		0.3%		(7)
Subtotal Energy: Oil & Gas (0.3%)*					2,799		3,030
Environmental Industries
Bridger Aerospace Group Holdings, LLC	Preferred Stock- Series C	7.0% PIK	07/22		14,618		18,632	16,911		1.5%		(7)
Subtotal Environmental Industries (1.5%)*					18,632		16,911
Healthcare & Pharmaceuticals
Amalfi Midco	Class B Common Stock		09/22		98,906,608		1,115	2,628		0.2%		(3)(7)(13)
Amalfi Midco	Warrants		09/22		380,385		4	1,349		0.1%		(3)(7)(13)
Canadian Orthodontic Partners Corp.	Class A Equity		05/22		500,000		389	—		—%		(3)(7)(13)
Canadian Orthodontic Partners Corp.	Class C - Warrants		05/22		74,712.64		—	—		—%		(3)(7)(13)
Canadian Orthodontic Partners Corp.	Class X Equity		05/22		45,604		35	—		—%		(3)(7)(13)
Canadian Orthodontic Partners Corp.	Common Stock		08/24		14.37		—	—		—%		(3)(7)(13)
Forest Buyer, LLC	Class A LLC Units		03/24		122		122	125		—%		(7)(13)
Forest Buyer, LLC	Class B LLC Units		03/24		122		—	56		—%		(7)(13)
GCDL LLC	Common Stock		08/24		243,243.24		243	253		—%		(7)(13)
GPNZ II GmbH	Common Stock		10/23		5,785		—	—		—%		(3)(7)(13)
HemaSource, Inc.	Common Stock		08/23		101,080		101	166		—%		(7)(13)
Moonlight Bidco Limited	Common Stock		07/23		10,590		138	195		—%		(3)(7)(13)
Parkview Dental Holdings LLC	LLC Units		10/23		29,762		298	196		—%		(7)(13)
Parkview Dental Holdings LLC	Preferred Stock	10.0% PIK	12/24		1,229.1		13	39		—%		(7)
SCP Medical Products, LLC.	LLC Units		06/25		393.3		53	56		—%		(7)(13)
TA KHP Aggregator, L.P.	Common Stock		06/25		51,435.9		52	101		—%		(7)(13)
Unosquare, LLC	LLC Units		06/25		260,817.7		261	149		—%		(7)(13)
VB Spine Intermediary II LLC	LLC Units		04/25		905,056.2		—	—		—%		(7)(13)
Subtotal Healthcare & Pharmaceuticals (0.5%)*				2,824		5,313
High Tech Industries
Argus Bidco Limited	Common Stock		07/22		464		1	—		—%		(3)(7)(13)
Argus Bidco Limited	Class B Common Stock		04/26		3,651		5	5	—%		(3)(7)(13)
Argus Bidco Limited	Ordinary Shares		04/26		30		—	—		—%		(3)(7)(13)
Argus Bidco Limited	Equity Loan Notes	10.0% PIK	07/22		41,560		70	20		—%		(3)(7)
Argus Bidco Limited	Preferred Stock	10.0% PIK	07/22		41,560		70	20		—%		(3)(7)
CH Buyer, LLC	LLC Units		05/25		685		69	86		—%		(7)(13)
CW Group Holdings, LLC	LLC Units		01/21		161,290.32		161	474		—%		(7)(13)
Eurofins Digital Testing International LUX Holding SARL	Common Stock		10/25		243,081		—	—		—%		(3)(7)(13)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Units / Shares · Cost · FairValue · % of Net Assets * · Notes
Eurofins Digital Testing International LUX Holding SARL	Preferred Stock	10/25			351,478			$—		$—		—%		(3)(7)(13)
FinThrive Software Intermediate Holdings Inc.	Preferred Stock	03/22			6,582.7			11,438		362		—%		(7)(13)
FSS Buyer LLC	LP Interest	08/21			1,160.9			12		16		—%		(7)(13)
FSS Buyer LLC	LP Units	08/21			5,104.3			51		70		—%		(7)(13)
NAW Buyer LLC	LLC Units	09/23			472,512			473		846		0.1%		(7)(13)
OSP Hamilton Purchaser, LLC	LP Units	07/22			173,749			174		198		—%		(7)(13)
PDQ.Com Corporation	Class A-2 Partnership Units	08/21			13.9			14		31		—%		(7)(13)
ProfitOptics, LLC	LLC Units	03/22			241,935.48			161		489		—%		(7)(13)
Pro-Vision Solutions Holdings, LLC	LLC Units	09/24			2,357.5			236		344		—%		(7)(13)
Subtotal High Tech Industries (0.3%)*					12,935			2,961
Media: Advertising, Printing, & Publishing
Advantage Software Company (The), LLC	Class A1 Partnership Units	12/21			8,717.76			280		219		—%		(7)(13)
Advantage Software Company (The), LLC	Class A2 Partnership Units	12/21			2,248.46			72		57		—%		(7)(13)
Advantage Software Company (The), LLC	Class B1 Partnership Units	12/21			8,717.76			9		—		—%		(7)(13)
Advantage Software Company (The), LLC	Class B2 Partnership Units	12/21			2,248.46			2		—		—%		(7)(13)
ASC Communications, LLC	Class A Units	07/22			25,718.20			539		1,068		0.1%		(7)
Subtotal Media: Advertising, Printing, & Publishing (0.1%)*			902			1,344
Media: Broadcasting & Subscription
The Octave Music Group, Inc.	Partnership Equity	04/22			676,881.00			677		1,401		0.1%		(7)(13)
Subtotal Media: Broadcasting & Subscription (0.1%)*			677			1,401
Media: Diversified & Production
BrightSign LLC	LLC Units	10/21		1,107,492.71			1,107		1,694		0.1%		(7)
Rock Labor LLC	LLC Units	09/23			233,871			1,252		1,240		0.1%		(7)(13)
Solo Buyer, L.P.	Common Equity	12/22			516,399			516		284		—%		(7)(13)
Vital Buyer, LLC	Partnership Units	06/21			16,442.9			164		482		—%		(7)(13)
Subtotal Media: Diversified & Production (0.3%)*			3,039			3,700
Services: Business
ARC Interco Purchaser, LLC	LLC Units	11/25			345,021.3			345		345		—%		(7)(13)
Azalea Buyer, Inc.	Common Stock	11/21			192,307.7			192		404		—%		(7)(13)
Broadway Buyer, LLC	LLC Units	12/25			312,055			312		387		—%		(7)(13)
CGI Parent, LLC	Preferred Stock	02/22			657			722		1,978		0.2%		(7)(13)
CMT Opco Holding, LLC (Concept Machine)	LLC Units	09/23			12,634.8			506		—		—%		(7)(13)
Coyo Uprising GmbH	Class A Units	09/21			440			205		243		—%		(3)(7)(13)
Coyo Uprising GmbH	Class B Units	09/21			191			446		319		—%		(3)(7)(13)
DataServ Integrations, LLC	Preferred Units	11/22			175,459.20			192		218		—%		(7)(13)
EFC International	Common Stock	03/23			163.83			231		235		—%		(7)(13)
Electric Equipment & Engineering Co.	LLC Units	12/24			187,500			188		353		—%		(7)(13)
IMS Services Enterprises, LLC	LLC Units	04/26			294			294		320		—%		(7)(13)
LeadsOnline, LLC	LLC Units	02/22			81,739			85		199		—%		(7)
MB Purchaser, LLC	LLC Units	01/24			66			68		106		—%		(7)(13)
MC Group Ventures Corporation	Partnership Units	06/21			746.66			747		301		—%		(7)(13)
MC Group Ventures Corporation	Preferred Stock	07/26			40.6			45		41		—%		(7)(13)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Units / Shares · Cost · FairValue · % of Net Assets * · Notes
MIV Buyer, LLC	LLC Units		09/25			1,007.4			$101			$95		—%		(7)(13)
NF Holdco, LLC	LLC Units		03/23			639,510			659			96		—%		(7)(13)
SmartShift Group, Inc.	Common Stock		09/23			275			275			769		0.1%		(7)(13)
TA SL Cayman Aggregator Corp.	Common Stock		07/21			1,589			50			95		—%		(7)(13)
TSYL Corporate Buyer, Inc.	Partnership Units		12/22			4,673			5			49		—%		(7)(13)
Xeinadin Bidco Limited	Common Stock		05/22			45,665,825			565			607		0.1%		(3)(7)(13)
Subtotal Services: Business (0.6%)*						6,233			7,160
Services: Consumer
Application Boot Camp LLC	Common Stock		04/25			234,751.8			235			319		—%		(7)
Kid Distro Holdings, LLC	LLC Units		10/21			637,677.11			638			1,039		0.1%		(7)(13)
Marmoutier Holding B.V.	Common Stock		06/25			2,600,592			—			—		—%		(3)(7)(13)
Subtotal Services: Consumer (0.1%)*						873			1,358
Telecommunications
Mercell Holding AS	Class A Units		08/22			114.4			111			72		—%		(3)(7)(13)
Mercell Holding AS	Class B Units		08/22			28,943.8			—			—		—%		(3)(7)(13)
Syniverse Holdings, Inc.	Series A Preferred Equity	12.5% PIK	05/22			7,575,758			12,225			9,697		0.8%		(7)
Subtotal Telecommunications (0.9%)*						12,336			9,769
Transportation: Cargo
Echo Global Logistics, Inc.	Partnership Equity		11/21			530.92			531			912		0.1%		(7)(13)
FragilePak LLC	Partnership Units		05/21			937.5			938			468		—%		(7)(13)
ITI Intermodal, Inc.	Common Stock		01/22			7,500.4			750			900		0.1%		(7)(13)
REP SEKO Merger Sub, LLC	Common Stock		11/24			1,231			5,403			—		—%		(7)(13)
Transportation Insight, LLC	Class A Common Units		01/26			14.51			—			—		—%		(7)(13)
Transportation Insight, LLC	Class A Preferred Units		01/26			20.04			3,099			4,535		0.4%		(7)(13)
Subtotal Transportation: Cargo (0.6%)*						10,721			6,815
Subtotal Equity Investments (10.2%)*					113,356		115,487
Royalty Rights
Healthcare & Pharmaceuticals
Coherus Biosciences, Inc.	Royalty Rights		05/24					1,206			1,507		0.1%		(7)
Subtotal Healthcare & Pharmaceuticals (0.1%)*					1,206		1,507
Subtotal Royalty Rights (0.1%)*						1,206			1,507
Subtotal Non-Control / Non-Affiliate Investments (172.4%)*				2,008,413		1,970,299
Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date		Maturity Date	Principal Amount		Cost		FairValue		% of Net Assets *	Notes
Affiliate Investments:(4)
Debt Investments
Aerospace & Defense
Skyvault Holdings LLC	First Lien Senior Secured Term Loan	12.0% Cash	11/24		11/31	$14,617			$14,617			$14,616		1.3%		(7)
Subtotal Aerospace & Defense (1.3%)*					14,617		14,617			14,616
Banking, Finance, Insurance, & Real Estate
Eclipse Business Capital, LLC	First Lien Senior Secured Term Loan	SOFR + 6.60%, 10.5% Cash	05/26		02/29	3,333			3,333			3,333		0.3%		(7)(8)(14)(18)
Eclipse Business Capital, LLC	Revolver	SOFR + 6.60%, 10.5% Cash	07/21		02/29	12,273			12,229			12,273		1.1%		(7)(8)(14)(18)
Eclipse Business Capital, LLC	Second Lien Senior Secured Term Loan	7.5% Cash	07/21		07/28	4,545			4,532			4,546		0.4%		(7)
Policy Services Company, LLC	First Lien Senior Secured Term Loan	SOFR + 6.00%, 14.3% PIK	12/21		06/28	62,380			61,495			48,969		4.3%		(7)(8)(19)

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Principal Amount · Cost · FairValue · % of Net Assets * · Notes
Rocade Holdings LLC	Second Lien Senior Secured Term Loan	SOFR + 8.00%, 11.7% Cash	11/25	11/30		$12,190			$11,963			$11,949		1.0%		(7)(8)(14)(19)
Subtotal Banking, Finance, Insurance, & Real Estate (7.2%)*			94,721		93,552			81,070
Chemicals, Plastics, & Rubber
Celebration Bidco, LLC	First Lien Senior Secured Term Loan	SOFR + 8.00%, 12.1% Cash	12/23	12/28		8,722			8,722			8,578		0.8%		(7)(8)(19)
Subtotal Chemicals, Plastics, & Rubber (0.8%)*			8,722		8,722			8,578
Construction & Building
EMI Porta Holdco LLC	First Lien Senior Secured Term Loan	SOFR + 5.50%, 9.2% Cash	05/26	12/29		4,404			4,404			4,404		0.4%		(7)(8)(19)
EMI Porta Holdco LLC	Revolver	SOFR + 5.50%, 9.2% Cash	05/26	11/29		—			—			—		—%		(7)(8)(14)(19)
Subtotal Construction & Building (0.4%)*				4,404			4,404			4,404
Hotel, Gaming, & Leisure
Coastal Marina Holdings, LLC	Subordinated Term Loan	8.0% Cash	11/21	11/31		16,394			15,661			15,784		1.4%		(7)
Coastal Marina Holdings, LLC	Subordinated Term Loan	8.0% Cash	11/21	11/31		7,324			7,067			7,051		0.6%		(7)
Subtotal Hotel, Gaming, & Leisure (2.0%)*				23,718			22,728			22,835
Services: Business
Zeppelin Bidco Limited	First Lien Senior Secured Term Loan	SONIA + 6.50%, 3.8% Cash, 6.5% PIK	03/22	03/29		2,804			2,291			2,183		0.2%		(3)(7)(8)(23)
Subtotal Services: Business (0.2%)*				2,804			2,291			2,183
Subtotal Debt Investments (11.7%)*				148,986			146,314			133,686
Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date		Units / Shares		Cost		FairValue		% of Net Assets *	Notes
Equity Investments
Aerospace & Defense
Skyvault Holdings LLC	LLC Units		11/24			5,381,304.8			$3,250			$6,295		0.6%		(7)
Subtotal Aerospace & Defense (0.6%)*						3,250			6,295
Banking, Finance, Insurance, & Real Estate
Eclipse Business Capital, LLC	LLC Units		07/21			89,447,396			93,052			139,539		12.2%		(7)
Policy Services Company, LLC	Class A Units		04/26			251.4			—			—		—%		(7)(13)
Rocade Holdings LLC	Preferred LP Units	SOFR + 6.00%, 9.9% Cash	02/23			71,000			88,881			88,871		7.8%		(7)(14)(19)
Rocade Holdings LLC	Common LP Units		02/23			23.8			—			5,469		0.5%		(7)
Subtotal Banking, Finance, Insurance, & Real Estate (20.5%)*				181,933			233,879
Chemicals, Plastics, & Rubber
Celebration Bidco, LLC	Common Stock		12/23			1,243,071			12,177			10,218		0.9%		(7)(13)
Subtotal Chemicals, Plastics, & Rubber (0.9%)*				12,177			10,218
Construction & Building
EMI Porta Holdco LLC	Preferred Stock	12.0% PIK	05/26			2,322,860			2,432			2,439		0.2%		(7)
EMI Porta Holdco LLC	Common Stock		05/26			6,017,772			3,004			3,911		0.3%		(7)(13)
Subtotal Construction & Building (0.6%)*						5,436			6,350
Hotel, Gaming, & Leisure
Coastal Marina Holdings, LLC	LLC Units		11/21			3,518,097			16,494			21,285		1.9%		(7)
Subtotal Hotel, Gaming, & Leisure (1.9%)*						16,494			21,285
Investment Funds & Vehicles
Jocassee Partners LLC	9.1% Member Interest		06/19					35,158			31,159		2.7%		(3)(9)(14)
Sierra Senior Loan Strategy JV I LLC	89.01% Member Interest		02/22					11,532			—		—%		(3)(9)(13)
Thompson Rivers LLC	16.0% Member Interest	06/20				18,024			2,261			0.2%		(9)(13)
Waccamaw River LLC	20% Member Interest		02/21					12,664			60		—%		(3)(9)(13)
Subtotal Investment Funds & Vehicles (2.9%)*				77,378			33,480

Portfolio Company(6) · Investment Type(1)(2) · Interest · Acq. Date · Maturity Date · Units / Shares · Cost · FairValue · % of Net Assets * · Notes
Services: Business
Zeppelin Bidco Limited	Ordinary Shares		08/25		879			$—			$—		—%		(3)(7)(13)
Subtotal Services: Business (—%)*					—			—
Subtotal Equity Investments (27.2%)*					296,668			311,507
Subtotal Affiliate Investments (38.9%)*					442,982			445,193
Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Principal Amount		Cost		FairValue		% of Net Assets *	Notes
Control Investments:(5)
Debt Investments
Automotive
MVC Automotive Group GmbH	First Lien Senior Secured Term Loan	7.7% Cash	06/26	01/28	$4,771			$4,833			$4,771		0.4%		(3)(7)
MVC Automotive Group GmbH	First Lien Senior Secured Term Loan	EURIBOR + 7.65%, 9.9% Cash	01/26	01/28	1,704			1,786			1,705		0.1%		(3)(7)(8)(16)
Subtotal Automotive (0.6%)*				6,475		6,619			6,476
Capital Equipment
Security Holdings B.V.	First Lien Senior Secured Term Loan	6.0%PIK	07/26	03/28	1,477			1,496			1,477		0.1%		(3)(7)(14)
Security Holdings B.V.	Bridge Loan	5.0% PIK	12/20	06/27	7,173			7,173			7,173		0.6%		(3)(7)
Security Holdings B.V.	Revolver	6.0% PIK	09/23	12/27	11,250			11,336			11,251		1.0%		(3)(7)(14)
Security Holdings B.V.	Senior Subordinated Term Loan	3.1% PIK	12/20	06/27	11,908			11,908			11,907		1.0%		(3)(7)
Security Holdings B.V.	Senior Unsecured Term Loan	15.0% PIK	04/21	04/29	3,146			3,161			3,146		0.3%		(3)(7)
Subtotal Capital Equipment (3.1%)*				34,954		35,074			34,954
Subtotal Debt Investments (3.6%)*				41,429		41,693			41,430
Portfolio Company(6)	Investment Type(1)(2)	Interest	Acq. Date	Maturity Date	Units / Shares		Cost		FairValue		% of Net Assets *	Notes
Equity Investments
Automotive
MVC Automotive Group GmbH	Common Equity Interest		12/20		25,404			$23,173			$8,540		0.7%		(3)(7)(13)
Subtotal Automotive (0.7%)*					23,173			8,540
Capital Equipment
Security Holdings B.V.	Common Stock Series A		02/22		17,100			560			469		—%		(3)(7)(13)
Security Holdings B.V.	Common Stock Series B		12/20		1,236		35,191			43,840		3.8%		(3)(7)(13)
Subtotal Capital Equipment (3.9%)*					35,751			44,309
Subtotal Equity Investments (4.6%)*				58,924		52,849
Subtotal Control Investments (8.2%)*				100,617		94,279
Total Investments, September 30, 2026 (219.5%)*				$2,552,012		$2,509,771

Derivative Instruments

Interest Rate Swaps:
Description · Company Receives · Company Pays · Maturity Date · Notional Amount · Value · Hedged Instrument · Unrealized Appreciation (Depreciation)
Interest rate swap (See Note 5)	7.00%	SOFR + 3.1475%	2/15/2029	$300,000		$(6,559)	February 2029 Notes	$(6,559)
Interest rate swap (See Note 5)	5.20%	SOFR + 2.059%	9/15/2028	$300,000		$(8,737)	September 2028 Notes	(8,737)
Total Interest Rate Swaps, September 30, 2026					$(15,296)

Credit Support Agreement:
Description	Counterparty	Settlement Date	Notional Amount	Value	Unrealized Appreciation (Depreciation)
New Sierra Credit Support Agreement(a)(b)(c)	Barings LLC	04/01/32	$10,995	$1,260	$(69)
Total Credit Support Agreement, September 30, 2026			$10,995	$1,260	$(69)

(a)The New Sierra Credit Support Agreement (as defined in “Note 2. Agreements and Related Party Transactions”) covers investments in two portfolio companies acquired by Barings BDC, Inc. (the “Company”) from Sierra Income Corporation (“Sierra”) in connection with the Sierra Merger (as defined in “Note 2. Agreements and Related Party Transactions”) and any investments received by the Company in connection with the restructuring, amendment, extension or other modification of such investments (the “New Sierra Reference Portfolio”). Each investment that is included in the New Sierra Reference Portfolio is denoted in the above Schedule of Investments with footnote (12).

(b)The Company and Barings LLC (“Barings” or the “Adviser”) entered into the New Sierra Credit Support Agreement pursuant to which Barings agreed to provide credit support to the Company in the amount of up to $11.0 million.

(c)Settlement Date means the earlier of (1) April 1, 2032 or (2) the date on which the entire New Sierra Reference Portfolio has been realized or written off.

Foreign Currency Forward Contracts:
Description	Notional Amount to be Purchased	Notional Amount to be Sold	Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
Foreign currency forward contract (AUD)	A$4,000	$2,801	HSBC Bank USA	12/30/26	$(22)
Foreign currency forward contract (AUD)	$44,703	A$63,017	HSBC Bank USA	12/30/26	918
Foreign currency forward contract (CAD)	$2,088	C$2,923	HSBC Bank USA	12/30/26	20
Foreign currency forward contract (DKK)	$534	3,473kr.	HSBC Bank USA	12/30/26	4
Foreign currency forward contract (EUR)	€625	$718	HSBC Bank USA	12/30/26	(5)
Foreign currency forward contract (EUR)	$143,320	€124,767	HSBC Bank USA	12/30/26	1,070
Foreign currency forward contract (NZD)	$3,368	NZ$5,869	HSBC Bank USA	12/30/26	45
Foreign currency forward contract (NOK)	$4,002	37,831kr	HSBC Bank USA	12/30/26	60
Foreign currency forward contract (GBP)	$145,101	£108,684	HSBC Bank USA	12/30/26	664
Foreign currency forward contract (SEK)	$1,984	19,432kr	HSBC Bank USA	12/30/26	26
Foreign currency forward contract (CHF)	$5,596	4,542Fr.	HSBC Bank USA	12/30/26	98
Total Foreign Currency Forward Contracts, September 30, 2026				$2,878

*Fair value as a percentage of net assets.

(1)All debt investments are income producing, unless otherwise noted. The Adviser determines in good faith the fair value of the Company’s investments in accordance with a valuation policy and processes established by the Adviser, which have been approved by the Company’s board of directors (the “Board”), and the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, all debt investments are variable rate investments unless otherwise noted. Index-based floating interest rates are generally subject to a contractual minimum interest rate. Variable rate loans to the Company’s portfolio companies bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate (“SOFR”), the Euro Interbank Offered Rate (“EURIBOR”), the Bank Bill Swap Bid Rate (“BBSY”), the Stockholm Interbank Offered Rate (“STIBOR”), the Canadian Overnight Repo Rate Average (“CORRA”), the Sterling Overnight Index Average (“SONIA”), the Swiss Average Rate Overnight (“SARON”), the Norwegian Interbank Offered Rate (“NIBOR”), the Bank Bill Market rate (“BKBM”) or an alternate base rate (commonly based on the Federal Funds Rate or the Prime Rate), at the borrower’s option, which reset annually, semi-annually, quarterly or monthly. For each such loan, the Company has provided the interest rate in effect on the date presented. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread. The borrower may also elect to have multiple interest reset periods for each loan.

(2)All of the Company’s portfolio company investments (including joint venture investments), which as of September 30, 2026 represented 219.5% of the Company’s net assets, are subject to legal restrictions on sales. The acquisition date represents the date of the Company’s initial investment in the relevant portfolio company.

(3)Investment is not a qualifying investment as defined under Section 55(a) of the 1940 Act. Non-qualifying assets represent 22.8% of total investments at fair value as of September 30, 2026. Qualifying assets must represent at least 70% of total assets at the time of acquisition of any additional non-qualifying assets. If at any time qualifying assets do not represent at least 70% of the Company’s total assets, the Company will be precluded from acquiring any additional non-qualifying asset until such time as it complies with the requirements of Section 55(a).

(4)In accordance with the 1940 Act, the Company is deemed to be an “affiliated person” of the portfolio company as the Company owns at least 5% but not more than 25% of the portfolio company’s outstanding voting securities and does not otherwise control (“non-controlled affiliate”). Transactions related to investments in non-controlled “Affiliate Investments” for the nine months ended September 30, 2026 were as follows:

December 31, 2025 Value · Gross Additions(a) · Gross Reductions (b) · Amount of Realized Gain (Loss) · Amount of Unrealized Gain (Loss) · September 30,2026 Value · Amount of Interest or Dividends Credited to Income(c)
Portfolio Company	Type of Investment
Biolam(d)	First Lien Senior Secured Term Loan (EURIBOR + 4.50%, 6.6% PIK)(e)	$1,731		$—		$(1,304)		$(1,233)		$806		$—		$—
Ordinary Shares(42,639,498 shares)	—		—		—		—		—		—		—
	1,731		—		(1,304)		(1,233)		806		—		—
Celebration Bidco, LLC(d)	First Lien Senior Secured Term Loan (SOFR + 8.00%, 12.1% Cash)	8,463		43		—		—		72		8,578		774
Common Stock (1,243,071 shares)	8,925		—		—		—		1,293		10,218		—
	17,388		43		—		—		1,365		18,796		774

December 31, 2025 Value · Gross Additions(a) · Gross Reductions (b) · Amount of Realized Gain (Loss) · Amount of Unrealized Gain (Loss) · September 30,2026 Value · Amount of Interest or Dividends Credited to Income(c)
Portfolio Company · Type of Investment
Coastal Marina Holdings, LLC(d)	Subordinated Term Loan(8.0% Cash)	$15,891		$94		$(226)		$—		$25		$15,784		$1,088
Subordinated Term Loan (8.0% Cash)	7,327		46		(339)		—		17		7,051		504
LLC Units (3,518,097 units)	19,983		—		—		—		1,302		21,285		513
	43,201		140		(565)		—		1,344		44,120		2,105
Eclipse Business Capital, LLC(d)	First Lien Senior Secured Term Loan (SOFR + 6.60%, 10.5% Cash)	—		3,333		—		—		—		3,333		124
Revolver (SOFR + 6.60%, 10.5% Cash)	9,909		44,862		(42,485)		—		(13)		12,273		774
Second Lien Senior Secured Term Loan (7.5% Cash)	4,546		4		—		—		(4)		4,546		265
LLC units (89,447,396 units)	139,539		—		—		—		—		139,539		12,111
	153,994		48,199		(42,485)		—		(17)		159,691		13,274
EMI Porta Holdco LLC(d)	First Lien Senior Secured Term Loan (SOFR + 5.50%, 9.2% Cash)	—		4,656		(252)		—		—		4,404		166
Revolver (SOFR + 5.50%, 9.2% Cash)	—		127		(127)		—		—		—		2
Preferred Stock (2,322,860 shares) (12.0% PIK)	—		2,432		—		—		7		2,439		109
Common Stock(6,017,772 shares)	—		3,004		—		—		907		3,911		—
		—		10,219		(379)		—		914		10,754		277
Jocassee Partners LLC	9.1% Member Interest	37,986		—		—		—		(6,827)		31,159		8,564
	37,986		—		—		—		(6,827)		31,159		8,564
Policy Services Company, LLC(d)	First Lien Senior Secured Term Loan (SOFR + 6.00%, 14.3% PIK)	—		56,563		—		—		(7,594)		48,969		4,196
Class A Units (251.4 units)	—		—		—		—		—		—		—
Warrants - Class A (2.5582 units)	—		—		—		—		—		—		—
Warrants - Class B(0.8634 units)	—		—		—		—		—		—		—
Warrants - Class CC (0.0888 units)	—		—		—		—		—		—		—
Warrants - Class D (0.2471 units)	—			—		—		—		—		—
	—		56,563		—		—		(7,594)		48,969		4,196
Rocade Holdings LLC(d)	Second Lien Senior Secured Term Loan (SOFR + 8.00%, 11.7% Cash)	2,667		9,292		—		—		(10)		11,949		704
Preferred LP Units (71,000 units) (SOFR + 6.00%, 9.9% Cash)	89,450		6,439		(7,010)		—		(8)		88,871		6,439
Common LP Units (23.8 units)	3,596		—		—		—		1,873		5,469		1,236
	95,713		15,731		(7,010)		—		1,855		106,289		8,379
Sierra Senior Loan Strategy JV I LLC	89.01% Member Interest	16,404		—		(16,437)		—		33		—		223
16,404		—		(16,437)		—		33		—		223
Skyvault Holdings LLC(d)	First Lien Senior Secured Term Loan (12.0% Cash)	16,020		123		(1,527)		—		—		14,616		1,427
LLC Units (5,381,304.8 units)	5,339		41		(2,140)		—		3,055		6,295		1,899
	21,359		164		(3,667)		—		3,055		20,911		3,326
Thompson Rivers LLC	16.0% Member Interest	4,271		—		(1,997)		—		(13)		2,261		—
	4,271		—		(1,997)		—		(13)		2,261		—

December 31, 2025 Value · Gross Additions(a) · Gross Reductions (b) · Amount of Realized Gain (Loss) · Amount of Unrealized Gain (Loss) · September 30,2026 Value · Amount of Interest or Dividends Credited to Income(c)
Portfolio Company · Type of Investment
Waccamaw River LLC	20% Member Interest	$4,489		$—		$(4,406)		$—		$(23)		$60		$161
4,489		—		(4,406)		—		(23)		60		161
Zeppelin Bidco Limited(d)	First Lien Senior Secured Term Loan (SONIA + 6.50%, 3.8% Cash, 6.5% PIK)	2,565		282		—		—		(664)		2,183		216
Ordinary Shares (879 shares)	82		—		—		—		(82)		—		—
	2,647		282		—		—		(746)		2,183		216
Total Affiliate Investments	$399,183		$131,341		$(78,250)		$(1,233)		$(5,848)		$445,193		$41,495

(a)Gross additions include increases in the cost basis of investments resulting from new investments, follow-on investments, payment-in-kind interest or dividends, the amortization of any unearned income or discounts on debt investments, as applicable.

(c)Represents the total amount of interest, fees or dividends credited to income for the portion of the year an investment was included in the Affiliate category.

(e)Non-accrual investment

(5)As defined in the 1940 Act, the Company is deemed to be both an “affiliated person” and “control” the portfolio company because it owns more than 25% of the portfolio company’s outstanding voting securities or it has the power to exercise control over the management or policies of such portfolio company (including through a management agreement). Transactions as of and during the nine months ended September 30, 2026 in which the portfolio company is deemed to be a “Control Investment” of the Company were as follows:

December 31, 2025Value · Gross Additions(a) · Gross Reductions (b) · Amount of Realized Gain (Loss) · Amount of Unrealized Gain (Loss) · September 30,2026Value · Amount of Interest or Dividends Credited to Income(c)
Portfolio Company	Type of Investment
MVC Automotive Group GmbH(d)	First Lien Senior Secured Term Loan (7.7% Cash)	$—		$4,833		$—		$—		$(62)		$4,771		$106
First Lien Senior Secured Term Loan (EURIBOR + 7.65%, 9.9% Cash)	—		5,582		(3,733)		(63)		(81)		1,705		198
Common Equity Interest (25,404 Shares)	14,143		—		—		—		(5,603)		8,540		—
	14,143		10,415		(3,733)		(63)		(5,746)		15,016		304
Security Holdings B.V(d)	First Lien Senior Secured Term Loan (6.0% PIK)	—		1,496		—		—		(19)		1,477		16
Bridge Loan (5.0% PIK)	6,997		176		—		—		—		7,173		268
Revolver (6.0% PIK)	6,225		5,527		—		(6)		(495)		11,251		443
Senior Subordinated Term Loan (3.1% PIK)	11,565		342		—		—		—		11,907		277
Senior Unsecured Term Loan (15.0% PIK)	2,909		335		—		—		(98)		3,146		337
Common Stock Series A (17,100 shares)	436		—		—		—		33		469		—
Common Stock Series B (1,236 shares)	40,702		—		—		—		3,138		43,840		—
	68,834		7,876		—		(6)		2,559		79,263		1,341
Total Control Investments	$82,977		$18,291		$(3,733)		$(69)		$(3,187)		$94,279		$1,645

(c)Represents the total amount of interest, fees or dividends credited to income for the portion of the year an investment was included in the Control category.

(6)All of the investment is or will be encumbered as security for the Company’s $0.8 billion senior secured credit facility with ING Capital LLC (“ING”) initially entered into in February 2019 (as amended, restated and otherwise modified from time to time, the “February 2019 Credit Facility”).

(7)The fair value of the investment was determined using significant unobservable inputs.

(8)Debt investment includes interest rate floor feature.

(9)Portfolio company does not issue shares or units; member interest is based on commitments.

(10)Non-accrual investment.

(11)Payment-in-kind (“PIK”) non-accrual investment.

(12)Investment was purchased as part of the Sierra Merger and is part of the New Sierra Reference Portfolio for purposes of the New Sierra Credit Support Agreement.

(13)Investment is non-income producing.

(14)Position or portion thereof is an unfunded loan or equity commitment.

(15)The interest rate on these loans is subject to 1 Month EURIBOR, which as of September 30, 2026 was 2.49600%.

(16)The interest rate on these loans is subject to 3 Month EURIBOR, which as of September 30, 2026 was 2.61700%.

(17)The interest rate on these loans is subject to 6 Month EURIBOR, which as of September 30, 2026 was 3.07400%.

(18)The interest rate on these loans is subject to 1 Month SOFR, which as of September 30, 2026 was 3.91252%.

(19)The interest rate on these loans is subject to 3 Month SOFR, which as of September 30, 2026 was 4.08330%.

(20)The interest rate on these loans is subject to 6 Month SOFR, which as of September 30, 2026 was 4.26907%.

(21)The interest rate on these loans is subject to 1 Month SONIA, which as of September 30, 2026 was 3.73630%.

(22)The interest rate on these loans is subject to 3 Month SONIA, which as of September 30, 2026 was 3.74800%.

(23)The interest rate on these loans is subject to 6 Month SONIA, which as of September 30, 2026 was 3.76542%.

(24)The interest rate on these loans is subject to 3 Month BBSY, which as of September 30, 2026 was 4.77150%.

(25)The interest rate on these loans is subject to 6 Month BBSY, which as of September 30, 2026 was 5.12300%.

(26)The interest rate on these loans is subject to 1 Month CORRA, which as of September 30, 2026 was 2.30555%.

(27)The interest rate on these loans is subject to 6 Month CORRA, which as of September 30, 2026 was 2.29821%.

(28)The interest rate on these loans is subject to 3 Month STIBOR, which as of September 30, 2026 was 2.00700%.

(29)The interest rate on these loans is subject to 3 Month BKBM, which as of September 30, 2026 was 3.13000%.

(30)The interest rate on these loans is subject to 3 Month SARON, which as of September 30, 2026 was -0.04590%

(31)The interest rate on these loans is subject to 3 Month NIBOR, which as of September 30, 2026 was 4.80000%.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.