Main Street Capital CORP

For the period ended Sep 30, 2025. Filed Nov 7, 2025.

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, 2025 · Filed Nov 7, 2025

MAIN$57.21+0.1%Stored close · as of Nov 10, 2026

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

See the whole filing, with its images and exhibits

Contents

Consolidated Schedule of Investments (unaudited)—September 30,

Consolidated Schedule of Investments

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Control Investments (5)
American Nuts, LLC	(10)	Roaster, Mixer and Packager of Bulk Nuts and Seeds
			Secured Debt	(9)	3/25/2025		12.94%	SF+	8.50%	12.94%	3/28/2028	$7,906		$7,906		$7,906
			Secured Debt	(9)	3/25/2025		12.94%	SF+	8.50%	12.94%	3/28/2028	7,906		7,906		7,906
			Preferred Equity		3/25/2025	26,638							8,970		6,130
													24,782		21,942
Analytical Systems Keco Holdings, LLC		Manufacturer of Liquid and Gas Analyzers
			Secured Debt	(25)	8/16/2019						8/16/2029	—		—		—
			Secured Debt		8/16/2019		14.50%				8/16/2029	3,945		3,907		3,907
			Preferred Member Units		5/20/2021	2,427							2,427		5,570
			Preferred Member Units		8/16/2019	3,200							3,200		—
			Warrants	(27)	8/16/2019	420					8/16/2029		316		—
													9,850		9,477
ASC Interests, LLC		Recreational and Educational Shooting Facility
			Secured Debt	(17)	12/31/2019		13.00%				7/31/2024	400		400		400
			Secured Debt	(17)	8/1/2013		13.00%				7/31/2024	1,578		1,578		1,363
			Preferred Member Units		6/28/2023	178							178		—
			Member Units		8/1/2013	1,500							1,500		—
													3,656		1,763
Barfly Ventures, LLC	(10)	Casual Restaurant Group
			Secured Debt		10/15/2020		7.00%				10/31/2026	711		711		711
			Member Units	(8)	10/26/2020	37							1,584		6,810
													2,295		7,521
Batjer TopCo, LLC		HVAC Mechanical Contractor
			Secured Debt	(25)	3/7/2022						3/7/2027	—		(3)		(3)
			Secured Debt	(25)	3/7/2022						3/7/2027	—		—		—
			Secured Debt		3/7/2022		10.00%				3/7/2027	9,945		9,917		9,917
			Preferred Stock	(8)	3/7/2022	4,073							4,095		8,750
													14,009		18,664
BDB Holdings, LLC		Casual Restaurant Group
			Secured Debt		2/24/2025		12.00%				2/27/2027	1,173		1,173		1,173
			Preferred Equity		11/4/2024	18,756,995							19,537		16,060
													20,710		17,233
Bolder Panther Group, LLC		Consumer Goods and Fuel Retailer
			Secured Debt	(9) (22)	12/31/2020		11.57%	SF+	7.26%		10/31/2027	101,046		100,768		101,046
			Secured Debt	(9)	7/1/2025		10.81%	SF+	6.50%		5/31/2026	3,000		2,996		3,000
			Class B Preferred Member Units	(8)	12/31/2020	140,000	8.00%						14,000		31,190
													117,764		135,236

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Brewer Crane Holdings, LLC · Provider of Crane Rental and Operating Services
		Secured Debt	(9)	1/9/2018		14.41%	SF+	10.00%		12/31/2026	5,016		5,016		5,016
		Preferred Member Units	(8)	1/9/2018	2,950							4,280		3,390
		Preferred Member Units	(8)	7/7/2025	312							324		324
												9,620		8,730
Bridge Capital Solutions Corporation	Financial Services and Cash Flow Solutions Provider
		Preferred Member Units	(29)	7/25/2016	17,742							1,000		—
		Warrants	(27)	7/25/2016	82					7/25/2026		2,132		—
												3,132		—
California Splendor Holdings LLC	Processor of Frozen Fruits
		Secured Debt	(25)	3/15/2024						8/28/2028	—		(12)		(12)
		Secured Debt		3/30/2018		14.00%				8/28/2028	25,800		25,774		25,774
		Preferred Member Units	(8)	7/31/2019	8,671	15.00%			15.00%			12,150		12,150
		Preferred Member Units	(8)	3/30/2018	8,729							16,402		15,275
												54,314		53,187
CBT Nuggets, LLC	Produces and Sells IT Training Certification Videos
		Member Units	(8)	6/1/2006	416							1,300		48,960
Centre Technologies Holdings, LLC	Provider of IT Hardware Services and Software Solutions
		Secured Debt	(9) (25)	1/4/2019			SF+	8.00%		1/4/2028	—		—		—
		Secured Debt	(9)	11/29/2024		12.41%	SF+	8.00%		1/4/2028	24,464		24,433		24,464
		Preferred Member Units		1/4/2019	13,883							6,386		21,220
												30,819		45,684
Chamberlin Holding LLC	Roofing and Waterproofing Specialty Contractor
		Secured Debt	(9) (25)	2/26/2018			SF+	6.00%		2/26/2026	—		(37)		—
		Secured Debt	(9)	2/26/2018		12.49%	SF+	8.00%		2/26/2026	20,420		20,410		20,420
		Member Units	(8)	2/26/2018	4,347							11,440		33,070
		Member Units	(8) (29)	11/2/2018	1,047,146							1,773		3,770
												33,586		57,260
Charps, LLC	Pipeline Maintenance and Construction
		Unsecured Debt		8/26/2020		14.00%				1/31/2030	5,694		5,241		5,694
		Preferred Member Units	(8)	2/3/2017	1,829							1,963		15,270
												7,204		20,964
Clad-Rex Steel, LLC	Specialty Manufacturer of Vinyl-Clad Metal
		Secured Debt	(25)	10/28/2022						7/31/2027	—		—		—
		Secured Debt		12/20/2016		10.00%				7/31/2030	9,640		9,560		9,640

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt		12/20/2016		10.00%			12/20/2036	940		932		940
			Member Units	(8)	12/20/2016	717						7,280		14,120
			Member Units	(29)	12/20/2016	800						509		1,270
												18,281		25,970
Cody Pools, Inc.		Designer of Residential and Commercial Pools
			Secured Debt	(25)	3/6/2020					12/17/2026	—		(18)		—
			Secured Debt		3/6/2020		12.50%			12/17/2026	39,815		39,794		39,815
			Preferred Member Units	(8) (29)	3/6/2020	587						8,317		66,480
												48,093		106,295
Colonial Electric Company LLC		Provider of Electrical Contracting Services
			Secured Debt	(25)	3/31/2021					3/31/2026	—		—		—
			Secured Debt		3/31/2021		12.00%			3/31/2026	8,779		8,770		8,779
			Preferred Member Units	(8)	3/31/2021	17,280						7,680		14,420
												16,450		23,199
CompareNetworks Topco, LLC		Internet Publishing and Web Search Portals
			Secured Debt	(9)	1/29/2019		13.41%	SF+	9.00%	1/29/2028	4,437		4,431		4,431
			Preferred Member Units		1/29/2019	2,250						3,520		8,180
												7,951		12,611
Compass Systems & Sales, LLC		Designer of End-to-End Material Handling Solutions
			Secured Debt	(25)	11/22/2023					11/22/2028	—		(17)		(17)
			Secured Debt		11/22/2023		13.50%			11/22/2028	17,200		17,093		16,954
			Preferred Equity		11/22/2023	7,454						7,454		7,180
												24,530		24,117
Copper Trail Fund Investments	(12) (13)	Investment Partnership
			LP Interests (CTMH, LP)	(30)	7/17/2017	38.75%						515		515
Cybermedia Technologies, LLC		IT and Digital Services Provider
			Secured Debt	(25)	5/5/2023					5/5/2028	—		—		—
			Secured Debt		5/5/2023		13.00%			5/5/2028	27,210		27,068		26,537
			Preferred Member Units		5/5/2023	556						15,000		—
			Preferred Equity		4/1/2025	2,400,000						2,400		4,360
												44,468		30,897
Datacom, LLC		Technology and Telecommunications Provider
			Secured Debt		3/1/2022		7.50%			12/31/2025	675		675		675
			Secured Debt		3/31/2021		10.00%			12/31/2025	7,880		7,847		5,589
			Preferred Member Units		3/31/2021	9,360						2,970		—
												11,492		6,264

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Digital Products Holdings LLC · Designer and Distributor of Consumer Electronics
		Secured Debt	(9)	4/1/2018		14.31%	SF+	10.00%	4/27/2026	11,957		11,934		11,795
		Preferred Member Units	(8)	4/1/2018	3,857						9,501		9,835
											21,435		21,630
Direct Marketing Solutions, Inc.	Provider of Omni-Channel Direct Marketing Services
		Secured Debt		2/13/2018		14.00%			2/13/2026	1,020		1,009		1,020
		Secured Debt		12/27/2022		14.00%			2/13/2026	23,082		23,069		23,082
		Preferred Stock		2/13/2018	8,400						8,400		19,080
											32,478		43,182
Doral Holdings, LLC	Machinery Moving, Rigging and Millwrighting Provider
		Secured Debt	(25)	5/20/2025					5/20/2030	—		—		—
		Secured Debt		5/20/2025		13.00%			5/20/2030	29,500		29,229		29,229
		Preferred Equity		5/20/2025	13,000						13,000		13,000
											42,229		42,229
Elgin AcquireCo, LLC	Manufacturer and Distributor of Engine and Chassis Components
		Secured Debt	(9) (25)	10/3/2022			SF+	6.00%	10/3/2026	—		(3)		(3)
		Secured Debt		10/3/2022		12.00%			10/3/2027	17,294		17,225		17,225
		Secured Debt		10/3/2022		9.00%			10/3/2052	6,225		6,169		6,169
		Common Stock		10/3/2022	285						5,726		5,100
		Common Stock	(29)	10/3/2022	939						1,558		3,220
											30,675		31,711
Flame King Holdings, LLC	Propane Tank and Accessories Distributor
		Secured Debt	(25)	6/30/2025					6/30/2030	—		—		—
		Secured Debt		6/30/2025		12.00%			6/30/2030	66,000		65,383		66,000
		Preferred Equity	(8)	10/29/2021	9,360						10,400		48,120
											75,783		114,120
Gamber-Johnson Holdings, LLC	Manufacturer of Ruggedized Computer Mounting Systems
		Secured Debt	(9) (25) (34)	6/24/2016			SF+	7.50%	1/1/2028	—		—		—
		Secured Debt	(9) (34)	11/22/2024		11.50%	SF+	7.50%	1/1/2028	70,726		70,625		70,726
		Member Units	(8)	6/24/2016	9,042						17,692		116,660
											88,317		187,386
Garreco, LLC	Manufacturer and Supplier of Dental Products
		Member Units		7/15/2013	1,200						1,200		1,830
GRT Rubber Technologies LLC	Manufacturer of Engineered Rubber Products
		Secured Debt		12/21/2018		10.41%	SF+	6.00%	10/29/2026	3,146		3,143		3,146

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt		12/19/2014		12.41%	SF+	8.00%		10/29/2026	40,493		40,442		40,493
			Member Units	(8)	12/19/2014	5,879							13,065		46,820
													56,650		90,459
Harris Preston Fund Investments	(12) (13)	Investment Partnership
			LP Interests (2717 MH, L.P.)	(30)	10/1/2017	49.26%							1,158		1,795
			LP Interests (2717 HPP-MS, L.P.)	(30)	3/11/2022	49.26%							256		447
			LP Interests (2717 GRE-LP, L.P.)	(30)	4/18/2024	43.05%							441		441
			LP Interests (423 COR, L.P.)	(30)	6/2/2022	26.89%							2,900		5,244
													4,755		7,927
Harrison Hydra-Gen, Ltd.		Manufacturer of Hydraulic Generators
			Common Stock	(8)	6/4/2010	107,456							718		7,270
IG Investor, LLC		Military and Other Tactical Gear
			Secured Debt		6/21/2023		13.00%				6/21/2028	1,600		1,578		1,600
			Secured Debt		6/21/2023		13.00%				6/21/2028	35,064		34,872		35,064
			Common Equity		6/21/2023	14,400							14,400		20,770
													50,850		57,434
Jensen Jewelers of Idaho, LLC		Retail Jewelry Store
			Secured Debt	(9) (25)	8/29/2017			P+	6.75%		11/14/2026	—		—		—
			Secured Debt	(9)	11/14/2006		14.25%	P+	6.75%		11/14/2026	1,028		1,028		1,028
			Member Units	(8)	11/14/2006	627							811		11,540
													1,839		12,568
JorVet Holdings, LLC		Supplier and Distributor of Veterinary Equipment and Supplies
			Secured Debt		3/28/2022		12.00%				3/28/2027	23,321		23,251		23,251
			Preferred Equity	(8)	3/28/2022	109,926							10,993		12,330
													34,244		35,581
JTI Electrical & Mechanical, LLC	(10)	Electrical, Mechanical and Automation Services
			Secured Debt	(9)	8/25/2025		9.45%	SF+	5.00%		6/20/2030	6,316		6,316		6,316
			Secured Debt	(9)	8/25/2025		10.45%	SF+	6.00%	10.45%	6/20/2030	35,412		35,412		35,412
			Secured Debt	(14)	8/25/2025		15.00%			15.00%	6/20/2030	16,842		6,205		6,205
			Common Equity	(29)	12/22/2021	1,684,211							1,684		—
			Common Equity		8/25/2025	842,000							842		—
													50,459		47,933
KBK Industries, LLC		Manufacturer of Specialty Oilfield and Industrial Products
			Secured Debt		2/24/2023		9.50%				2/24/2028	7,800		7,759		7,800
			Member Units	(8)	1/23/2006	325							783		20,230

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
													8,542		28,030
Kickhaefer Manufacturing Company, LLC		Precision Metal Parts Manufacturing
			Secured Debt		10/31/2018		12.00%				10/31/2026	13,399		13,393		13,393
			Secured Debt		10/31/2018		9.00%				10/31/2048	3,922		3,891		3,891
			Preferred Equity		10/31/2018	581							12,240		15,930
			Member Units	(8) (29)	10/31/2018	800							992		2,760
													30,516		35,974
Metalforming Holdings, LLC		Distributor of Sheet Metal Folding and Metal Forming Equipment
			Secured Debt	(25)	10/19/2022						10/19/2025	—		(1)		—
			Secured Debt		10/19/2022		8.75%				10/19/2027	17,788		17,715		17,788
			Preferred Equity	(8)	10/19/2022	5,915,585	8.00%			8.00%			5,916		5,916
			Common Stock	(8)	10/19/2022	1,537,219							1,537		9,480
													25,167		33,184
Moffitt Holdings, LLC		Bulk Fuel and Lubricants Distributor
			Secured Debt		3/19/2025		13.00%				3/19/2030	34,563		34,257		34,257
			Preferred Equity		3/19/2025	14,300							14,300		15,560
													48,557		49,817
MS Private Loan Fund I, LP	(12) (13)	Investment Partnership
			Secured Debt	(9)	1/26/2021		7.31%	SF+	3.00%		3/24/2026	8,700		8,700		8,700
			LP Interests	(8) (30)	1/26/2021	14.51%							14,250		13,832
													22,950		22,532
MS Private Loan Fund II, LP	(12) (13)	Investment Partnership
			Secured Debt	(9) (25)	9/5/2023			SF+	3.00%		3/5/2029	—		(91)		(91)
			LP Interests	(8) (30)	9/5/2023	12.46%							9,000		9,564
													8,909		9,473
MSC Adviser I, LLC	(16)	Third Party Investment Advisory Services
			Member Units	(8)	11/22/2013	100%							29,500		266,350
MSC Income Fund, Inc.	(12) (13)	Business Development Company
			Common Equity	(8)	5/2/2022	1,433,573							22,326		18,333
MVI MSO, LLC		Vascular Practice Specializing in Comprehensive Vein and Artery Diagnosis and Treatment
			Secured Debt		3/28/2025		13.00%				3/28/2030	9,850		9,763		9,763
			Preferred Equity		3/28/2025	270							2,700		4,770
													12,463		14,533
Mystic Logistics Holdings, LLC		Logistics and Distribution Services Provider for Large Volume Mailers
			Secured Debt	(25)	8/18/2014						1/31/2027	—		—		—
			Secured Debt		8/18/2014		10.00%				1/31/2027	5,746		5,736		5,746

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
		Common Stock	(8)	8/18/2014	5,873						2,720		26,780
											8,456		32,526
NAPCO Precast, LLC	Precast Concrete Manufacturing
		Member Units		1/31/2008	2,955						2,975		11,160
		Member Units	(29)	9/30/2025	2,955						815		2,760
											3,790		13,920
Nello Industries Investco, LLC	Manufacturer of Steel Poles and Towers For Critical Infrastructure
		Secured Debt		6/4/2024		12.50%			6/4/2029	29,672		29,452		29,452
		Preferred Equity	(8)	6/4/2024	336,803						11,197		20,260
											40,649		49,712
NexRev LLC	Provider of Energy Efficiency Products & Services
		Preferred Member Units	(8)	2/28/2018	103,144,186						8,213		12,260
NRP Jones, LLC	Manufacturer of Hoses, Fittings and Assemblies
		Secured Debt		12/21/2017		12.00%			9/18/2028	2,191		2,184		2,046
		Preferred Equity		12/8/2011	495,000						482		1,238
		Member Units		12/22/2011	74,761						114		11
		Member Units		12/22/2011	74,761						3,823		279
		Common Equity	(29)	6/20/2025	927,581						928		928
											7,531		4,502
NuStep, LLC	Designer, Manufacturer and Distributor of Fitness Equipment
		Secured Debt	(9) (17)	1/31/2017		10.91%	SF+	6.50%	1/31/2025	2,200		2,200		2,200
		Secured Debt	(17)	1/31/2017		12.00%			1/31/2025	18,440		18,440		18,440
		Preferred Member Units		11/2/2022	2,400						2,785		6,000
		Preferred Member Units		1/31/2017	486						11,866		12,200
											35,291		38,840
OMi Topco, LLC	Manufacturer of Overhead Cranes
		Secured Debt		8/31/2021		12.00%			12/31/2029	24,000		23,961		24,000
		Preferred Member Units	(8)	4/1/2008	900						1,080		77,900
											25,041		101,900
Orttech Holdings, LLC	Distributor of Industrial Clutches, Brakes and Other Components
		Secured Debt	(9) (25)	7/30/2021			SF+	11.00%	7/31/2026	—		—		—
		Secured Debt	(9)	7/30/2021		15.41%	SF+	11.00%	7/31/2026	20,760		20,725		20,760
		Preferred Stock	(29)	7/30/2021	10,000						10,000		13,450
											30,725		34,210
Pinnacle TopCo, LLC	Manufacturer and Distributor of Garbage Can Liners, Poly Bags, Produce Bags, and Other Similar Products

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
		Secured Debt	(25)	12/21/2023						12/31/2028	—		(10)		—
		Secured Debt		12/21/2023		13.00%				12/31/2028	27,840		27,662		27,840
		Preferred Equity	(8)	12/21/2023	440							12,540		19,640
												40,192		47,480
PPL RVs, Inc.	Recreational Vehicle Dealer
		Secured Debt	(9) (25)	10/31/2019			SF+	7.00%		11/15/2027	—		(4)		—
		Secured Debt	(9)	11/15/2016		11.48%	SF+	7.00%		11/15/2027	15,191		15,116		15,191
		Common Stock	(8)	6/10/2010	2,000							2,150		18,250
		Common Stock	(8) (29)	6/14/2022	238,421							238		575
												17,500		34,016
Principle Environmental, LLC	Noise Abatement Service Provider
		Secured Debt		7/1/2011		13.00%				11/15/2026	4,897		4,875		4,875
		Preferred Member Units	(8)	2/1/2011	21,806							5,709		14,700
		Common Stock		1/27/2021	1,037							1,200		700
												11,784		20,275
Quality Lease Service, LLC	Provider of Rigsite Accommodation Unit Rentals and Related Services
		Member Units		6/8/2015	1,000							7,546		460
River Aggregates, LLC	Processor of Construction Aggregates
		Member Units	(29)	12/20/2013	1,500							369		9,590
Robbins Bros. Jewelry, Inc.	Bridal Jewelry Retailer
		Secured Debt	(14) (25)	12/15/2021						12/15/2026	—		(56)		(56)
		Secured Debt	(14)	12/15/2021		12.50%			10.00%	12/15/2026	33,660		31,983		14,145
		Preferred Equity		12/15/2021	11,070							11,070		—
												42,997		14,089
Tedder Industries, LLC	Manufacturer of Firearm Holsters and Accessories
		Secured Debt	(14) (17)	8/31/2018		12.00%			12.00%	8/31/2023	1,203		861		910
		Secured Debt	(14) (17)	8/31/2018		12.00%			12.00%	8/31/2023	15,200		15,045		2,564
		Preferred Member Units		8/28/2023	6,605							661		—
		Preferred Member Units		2/1/2023	5,643							564		—
		Preferred Member Units		8/31/2018	544							9,245		—
												26,376		3,474
Televerde, LLC	Provider of Telemarketing and Data Services
		Preferred Stock		1/26/2022	248							718		1,794
		Member Units	(8)	1/6/2011	460							1,290		4,822
												2,008		6,616
Trantech Radiator Topco, LLC	Transformer Cooling Products and Services
		Secured Debt	(25)	5/31/2019						5/31/2027	—		(1)		(1)

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt		5/31/2019		13.50%				5/31/2027	7,920		7,875		7,875
			Common Stock	(8)	5/31/2019	615							4,655		13,350
													12,529		21,224
Victory Energy Operations, LLC		Provider of Industrial and Commercial Combustion Systems
			Secured Debt	(25)	10/3/2024						10/3/2029	—		(28)		(28)
			Secured Debt		10/3/2024		13.00%				10/3/2029	48,251		47,865		47,865
			Preferred Equity	(8)	10/3/2024	51,421							22,471		22,870
													70,308		70,707
Volusion, LLC		Provider of Online Software-as-a-Service eCommerce Solutions
			Secured Debt	(17)	3/31/2023		10.00%				3/31/2025	2,100		2,100		2,100
			Preferred Member Units		3/31/2023	5,097,595							2,271		3,669
			Preferred Member Units		3/31/2023	142,512							—		—
			Preferred Member Units		1/26/2015	4,876,670							14,000		—
			Common Stock		3/31/2023	1,802,780							2,576		—
													20,947		5,769
VVS Holdco LLC		Omnichannel Retailer of Animal Health Products
			Secured Debt	(9) (25)	12/1/2021			SF+	6.00%		12/1/2025	—		—		—
			Secured Debt		12/1/2021		11.50%				12/1/2026	24,480		24,423		24,423
			Preferred Equity	(8) (29)	12/1/2021	12,240							12,240		12,240
													36,663		36,663
Ziegler’s NYPD, LLC		Casual Restaurant Group
			Secured Debt		7/31/2025		12.00%				12/31/2027	150		150		150
			Secured Debt		12/30/2024		12.00%				12/31/2027	1,750		1,750		1,686
			Preferred Member Units		6/30/2015	16,878							3,154		130
			Warrants	(27)	7/1/2015	587					10/1/2025		600		—
													5,654		1,966
Subtotal Control investments (82.3% of net assets at fair value)													$1,659,952		$2,416,174
Affiliate Investments (6)
AAC Holdings, Inc.	(11)	Substance Abuse Treatment Service Provider
			Secured Debt		4/1/2025		10.00%			10.00%	6/2/2027	$814		$814		$814
			Secured Debt	(14)	3/28/2025		10.00%			10.00%	6/2/2027	3,109		3,109		3,109
			Secured Debt	(14)	3/28/2025		12.00%			12.00%	6/2/2027	3,109		3,109		3,109
			Preferred Equity		3/28/2025	12,621,635							8,520		6,050
			Common Stock		12/11/2020	654,743							3,148		—
			Warrants	(27)	12/11/2020	574,598					12/11/2025		—		—
													18,700		13,082
Boccella Precast Products LLC		Manufacturer of Precast Hollow Core Concrete

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt		9/23/2021		10.00%				2/28/2027	256		256		256
			Member Units	(8)	6/30/2017	2,160,000							2,256		1,820
													2,512		2,076
Buca C, LLC		Casual Restaurant Group
			Secured Debt	(14) (17)	8/7/2024		15.00%			15.00%	11/4/2024	7,897		6,109		—
			Secured Debt	(14) (17)	6/28/2024		15.00%			15.00%	4/1/2025	17		—		—
			Secured Debt	(14) (17)	6/30/2015		15.00%			15.00%	8/31/2023	10,697		5,862		—
			Preferred Member Units		6/30/2015	6	6.00%			6.00%			4,770		—
													16,741		—
Career Team Holdings, LLC		Provider of Workforce Training and Career Development Services
			Secured Debt	(9) (25)	12/17/2021			SF+	6.00%		6/5/2030	—		(41)		(41)
			Secured Debt		12/17/2021		13.00%				6/5/2030	21,892		21,531		21,531
			Common Stock		12/17/2021	516,617							5,166		5,370
													26,656		26,860
CenterPeak Holdings, LLC		Executive Search Services
			Secured Debt		12/10/2021		15.00%				12/10/2026	1,800		1,793		1,800
			Secured Debt		12/10/2021		15.00%				12/10/2026	21,507		21,453		21,507
			Preferred Equity	(8)	12/10/2021	3,310							3,635		23,530
													26,881		46,837
Classic H&G Holdings, LLC		Provider of Engineered Packaging Solutions
			Preferred Member Units		3/12/2020	154							—		1,960
Congruent Credit Opportunities Funds	(12) (13)	Investment Partnership
			LP Interests (Congruent Credit Opportunities Fund III, LP)	(8) (30)	2/4/2015	12.49%							1,277		662
Connect Telecommunications Solutions Holdings, Inc.	(13) (21)	Value-Added Distributor of Fiber Products and Equipment
			Secured Debt		10/9/2024		13.00%				10/9/2029	25,056		24,856		24,856
			Preferred Equity		10/9/2024	22,304							12,596		12,596
													37,452		37,452
DMA Industries, LLC		Distributor of Aftermarket Ride Control Products
			Secured Debt		6/18/2024		12.00%				6/18/2029	560		556		560
			Secured Debt		11/19/2021		12.00%				6/18/2029	14,400		14,343		14,400
			Preferred Equity		11/19/2021	5,944							5,944		8,434
			Preferred Equity	(8)	6/18/2024	3,068	15.00%			15.00%			3,617		4,907
													24,460		28,301
Dos Rios Partners	(12) (13)	Investment Partnership

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			LP Interests (Dos Rios Partners, LP)	(30)	4/25/2013	20.24%						6,032		7,719
			LP Interests (Dos Rios Partners - A, LP)	(30)	4/25/2013	6.43%						1,915		2,451
												7,947		10,170
Dos Rios Stone Products LLC	(10)	Limestone and Sandstone Dimension Cut Stone Mining Quarries
			Class A Preferred Units	(29)	6/27/2016	2,000,000						2,000		—
EIG Fund Investments	(12) (13)	Investment Partnership
			LP Interests (EIG Global Private Debt Fund-A, L.P.)	(8)	11/6/2015	5,000,000						84		37
FCC Intermediate Holdco, LLC		Supply Chain Management Services
			Secured Debt		5/28/2024		13.00%			5/29/2029	31,570		28,621		31,570
			Warrants	(8) (27)	5/28/2024	12				5/28/2034		3,920		15,140
												32,541		46,710
Freeport Financial Funds	(12) (13)	Investment Partnership
			LP Interests (Freeport Financial SBIC Fund LP)	(30)	3/23/2015	9.30%						2,580		1,843
			LP Interests (Freeport First Lien Loan Fund III LP)	(30)	7/31/2015	5.95%						671		193
												3,251		2,036
FRG AcquireCo, LLC		Technology Focused Risk Management Advisory Firm
			Secured Debt	(25)	9/22/2025					9/22/2030	—		(20)		(20)
			Secured Debt		9/22/2025		13.00%			9/22/2030	10,500		10,397		10,397
			Preferred Equity		9/22/2025	3,500						3,500		3,500
												13,877		13,877
GFG Group, LLC		Grower and Distributor of a Variety of Plants and Products to Other Wholesalers, Retailers and Garden Centers
			Secured Debt		3/31/2021		8.00%			3/31/2026	14,053		14,047		14,053
			Preferred Member Units	(8)	3/31/2021	226						4,900		10,940
												18,947		24,993
Gulf Manufacturing, LLC	(13) (21)	Manufacturer of Specialty Fabricated Industrial Piping Products
			Secured Debt	(25)	3/15/2024			SF+	7.62%	3/15/2029	—		(34)		(34)
			Secured Debt		3/15/2024		11.94%	SF+	7.62%	3/15/2029	37,500		37,244		37,244
			Member Units	(8)	8/31/2007	438						2,980		14,600
			Common Stock	(29)	11/18/2024	888						888		1,450
												41,078		53,260

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Harris Preston Fund Investments	(12) (13)	Investment Partnership
			LP Interests (HPEP 3, L.P.)	(30)	8/9/2017	8.22%							1,762		4,132
			LP Interests (HPEP 4, L.P.)	(30)	7/12/2022	11.61%							6,409		7,257
			LP Interests (423 HAR, L.P.)	(30)	6/2/2023	15.60%							750		1,226
													8,921		12,615
Hawk Ridge Systems, LLC		Value-Added Reseller of Engineering Design and Manufacturing Solutions
			Secured Debt	(9)	12/2/2016		10.48%	SF+	6.00%		1/15/2026	2,170		2,169		2,170
			Secured Debt		12/2/2016		12.00%				1/15/2026	45,256		45,240		45,256
			Preferred Member Units	(8)	12/2/2016	226							2,850		24,560
			Preferred Member Units	(29)	12/2/2016	226							150		1,290
													50,409		73,276
Houston Plating and Coatings, LLC		Provider of Plating and Industrial Coating Services
			Unsecured Convertible Debt		5/1/2017		10.00%				4/2/2026	3,000		3,000		3,000
			Member Units	(8)	1/8/2003	322,297							2,352		4,350
													5,352		7,350
Independent Pet Partners Intermediate Holdings, LLC	(10)	Omnichannel Retailer of Specialty Pet Products
			Common Equity		4/7/2023	18,006,407							18,300		19,000
Infinity X1 Holdings, LLC		Manufacturer and Supplier of Personal Lighting Products
			Secured Debt		3/31/2023		13.00%				3/31/2028	15,524		15,512		15,524
			Preferred Equity	(8)	3/31/2023	87,360							4,368		6,620
													19,880		22,144
Integral Energy Services	(10)	Nuclear Power Staffing Services
			Secured Debt	(9)	8/20/2021		12.05%	SF+	7.50%		8/20/2026	12,273		12,227		12,030
			Preferred Equity	(8)	12/7/2023	3,188	10.00%			10.00%			274		527
			Preferred Equity		6/3/2025	1,067	10.00%			10.00%			114		190
			Common Stock		8/20/2021	9,968							1,356		690
													13,971		13,437
Iron-Main Investments, LLC		Consumer Reporting Agency Providing Employment Background Checks and Drug Testing
			Secured Debt		8/2/2021		13.00%				1/31/2028	4,514		4,498		4,498
			Secured Debt		9/1/2021		13.00%				1/31/2028	2,940		2,930		2,930
			Secured Debt		11/15/2021		13.00%				1/31/2028	8,944		8,944		8,944
			Secured Debt		11/15/2021		13.00%				1/31/2028	17,624		17,562		17,562
			Secured Debt		1/31/2023		13.00%				1/31/2028	9,554		9,405		9,405
			Preferred Equity		6/26/2024	711	25.00%			25.00%			711		970
			Preferred Equity		9/26/2025	155	25.00%			25.00%			155		155

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Common Stock		8/3/2021	203,016							2,756		2,700
													46,961		47,164
ITA Holdings Group, LLC		Air Ambulance Services
			Secured Debt	(9)	6/21/2023		11.46%	SF+	7.00%		6/21/2027	1,180		1,171		1,180
			Secured Debt	(9)	6/30/2025		11.46%	SF+	7.00%		6/21/2027	2,360		2,341		2,360
			Secured Debt	(9)	6/21/2023		11.46%	SF+	7.00%		6/21/2027	4,935		4,469		4,935
			Secured Debt	(9)	6/21/2023		11.46%	SF+	7.00%		6/21/2027	4,935		4,469		4,935
			Secured Debt	(9)	6/30/2025		11.46%	SF+	7.00%		6/21/2027	1,770		1,764		1,770
			Warrants	(8) (27)	6/21/2023	193,307					6/21/2033		2,091		13,480
													16,305		28,660
KMS, LLC	(10)	Wholesaler of Closeout and Value-Priced Products
			Secured Debt		2/10/2025		12.50%			12.50%	10/1/2028	1,171		1,145		1,145
			Secured Debt		2/10/2025		12.50%			12.50%	10/1/2028	1,008		1,008		1,008
			Preferred Equity		2/10/2025	9,213							4,890		5,140
													7,043		7,293
Mills Fleet Farm Group, LLC	(10)	Omnichannel Retailer of Work, Farm and Lifestyle Merchandise
			Secured Debt	(9)	12/19/2024		9.78%	SF+	5.50%	9.78%	12/31/2026	2,832		2,832		2,832
			Secured Debt	(9)	4/11/2025		9.70%	SF+	5.50%	9.70%	12/31/2026	1,672		1,672		1,672
			Preferred Equity	(8) (29)	12/19/2024	66,306							14,669		12,280
													19,173		16,784
MoneyThumb Acquisition, LLC		Provider of Software-as-a-Service Financial File Conversion and Reconciliation
			Secured Debt		8/19/2024		14.00%				8/19/2029	8,960		8,464		8,464
			Preferred Member Units	(8)	8/19/2024	163,282	12.00%			12.00%			1,867		1,867
			Warrants	(27)	8/19/2024	59,368					8/19/2029		594		594
													10,925		10,925
OnAsset Intelligence, Inc.		Provider of Transportation Monitoring / Tracking Products and Services
			Secured Debt	(14)	4/18/2011		12.00%			12.00%	12/31/2025	4,415		4,415		455
			Secured Debt	(14)	5/10/2013		12.00%			12.00%	12/31/2025	2,116		2,116		218
			Secured Debt	(14)	3/21/2014		12.00%			12.00%	12/31/2025	983		983		100
			Secured Debt	(14)	5/20/2014		12.00%			12.00%	12/31/2025	964		964		99
			Unsecured Debt	(14)	6/5/2017		10.00%			10.00%	12/31/2025	305		305		305
			Preferred Stock		4/18/2011	912	7.00%			7.00%			1,981		—
			Common Stock		4/15/2021	635							830		—
			Warrants	(27)	4/18/2011	4,699					5/10/2027		1,089		—
													12,683		1,177
Oneliance, LLC		Construction Cleaning Company
			Preferred Stock	(8)	8/6/2021	1,128							1,128		3,270

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
RA Outdoors LLC	(10)	Software Solutions Provider for Outdoor Activity Management
			Secured Debt	(9)	4/8/2021		11.25%	SF+	6.75%	11.25%	4/8/2026	1,395		1,393		1,150
			Secured Debt	(9) (25)	4/8/2021			SF+	6.75%		4/8/2026	—		—		—
			Secured Debt	(9) (25)	2/5/2025			SF+	6.75%		4/8/2026	—		—		—
			Secured Debt	(9)	4/8/2021		11.25%	SF+	6.75%	11.25%	4/8/2026	14,586		14,568		12,025
			Secured Debt	(9) (25)	7/17/2025			SF+	6.75%		6/30/2027	—		—		—
			Common Equity		8/12/2024	110							—		—
													15,961		13,175
Revenue Recovery Holdings, LLC		Third Party Tax Collection Services
			Secured Debt	(25)	7/25/2025						7/2/2030	—		(19)		(19)
			Secured Debt		7/25/2025		14.00%				7/2/2030	7,700		7,627		7,627
			Preferred Equity		7/25/2025	104,904							1,049		1,049
													8,657		8,657
RFG AcquireCo, LLC		Aerial Survey, Aerial Survey Equipment Sales & Rental, Aircraft Maintenance
			Secured Debt	(25)	6/2/2025						6/2/2027	—		(8)		(8)
			Secured Debt	(25)	6/2/2025						6/2/2030	—		—		—
			Secured Debt		6/2/2025		12.50%				6/2/2030	34,000		33,683		33,683
			Preferred Equity		6/2/2025	11,401							11,401		11,401
													45,076		45,076
SI East, LLC		Rigid Industrial Packaging Manufacturing
			Secured Debt		8/31/2018		11.85%				6/16/2028	2,250		2,239		2,250
			Secured Debt	(23)	6/16/2023		12.78%				6/16/2028	67,035		66,945		67,035
			Preferred Member Units		8/31/2018	165							1,525		14,290
													70,709		83,575
Slick Innovations, LLC		Text Message Marketing Platform
			Secured Debt		9/13/2018		14.00%				3/21/2030	25,080		24,834		25,080
			Common Stock	(8)	9/13/2018	70,000							—		1,990
													24,834		27,070
Specialized Aviation Holdings, LLC		Distributor and Service and Maintenance Provider for Specialty Aircraft
			Secured Debt		8/29/2025		13.00%				8/29/2030	30,000		29,710		29,710
			Preferred Stock		8/29/2025	25,000							15,000		15,000
													44,710		44,710
Student Resource Center, LLC	(10)	Higher Education Services
			Secured Debt		9/11/2024		8.50%			8.50%	12/31/2027	217		217		774
			Secured Debt	(14)	12/31/2022		8.50%			8.50%	12/31/2027	5,327		4,884		1,346
			Preferred Equity		12/31/2022	5,907,649							—		—
													5,101		2,120

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Superior Rigging & Erecting Co. · Provider of Steel Erecting, Crane Rental & Rigging Services
			Preferred Member Units		8/31/2020	1,636					4,500		16,720
The Affiliati Network, LLC		Performance Marketing Solutions
			Secured Debt		8/9/2021		10.00%		8/9/2026	560		557		557
			Secured Debt		8/9/2021		10.00%		8/9/2026	4,801		4,792		4,652
			Preferred Stock		9/1/2023	312,910					313		313
			Preferred Stock	(8)	8/9/2021	1,280,000					6,400		6,400
											12,062		11,922
UnionRock Energy Fund II, LP	(12) (13)	Investment Partnership
			LP Interests	(30)	6/15/2020	11.11%					2,746		4,128
UnionRock Energy Fund III, LP	(12) (13)	Investment Partnership
			LP Interests	(8) (30)	6/6/2023	14.91%					4,722		5,162
UniTek Global Services, Inc.	(11)	Provider of Outsourced Infrastructure Services
			Preferred Stock		8/21/2018	11,450,416	20.00%	20.00%			8,416		9,388
			Preferred Stock		6/30/2017	21,382,147	19.00%	19.00%			3,667		—
			Preferred Stock		1/15/2015	42,338,440	13.50%	13.50%			7,924		—
			Common Stock		4/1/2020	2,370,059					—		—
											20,007		9,388
Urgent DSO LLC		General and Emergency Dentistry Practice
			Secured Debt		2/16/2024		13.50%		2/16/2029	8,800		8,740		8,740
			Preferred Equity	(8)	2/16/2024	4,000	9.00%	9.00%			4,614		4,614
											13,354		13,354
Wildcats Topco LLC		Provider of Veterinary Services and Products
			Common Equity		5/8/2025	22,426,711					22,427		22,760
World Micro Holdings, LLC		Supply Chain Management
			Secured Debt		12/12/2022		11.00%		12/12/2027	9,886		9,844		9,844
			Preferred Equity	(8)	12/12/2022	3,845					3,845		3,845
											13,689		13,689
Subtotal Affiliate investments (30.4% of net assets at fair value)											$814,010		$892,914
Non-Control/Non-Affiliate Investments (7)
Adams Publishing Group, LLC	(10)	Local Newspaper Operator

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt	(9) (33)	3/11/2022		11.00%	SF+	7.00%	1.00%	3/11/2027	$7,980		$7,980		$7,945
			Secured Debt	(9) (33)	3/11/2022		11.00%	SF+	7.00%	1.00%	3/11/2027	17,070		17,054		16,996
													25,034		24,941
AGS American Glass Services Acquisition, LLC	(10)	Provider of Custom Glass Fabrication & Installation and Specialty Coating Solutions
			Secured Debt	(9)	7/24/2025		9.64%	SF+	5.50%		7/24/2031	268		232		232
			Secured Debt	(9) (25)	7/24/2025			SF+	5.50%		7/24/2031	—		(20)		(20)
			Secured Debt	(9)	7/24/2025		9.66%	SF+	5.50%		7/24/2031	10,067		9,922		9,922
			Preferred Equity		7/24/2025	7,292							729		729
													10,863		10,863
Airo Purchaser, Inc.	(10)	Provider of HVAC and Plumbing Installation Services
			Secured Debt	(9) (25)	8/1/2025			SF+	5.50%		8/1/2030	—		(67)		(67)
			Secured Debt	(9) (25)	8/1/2025			SF+	5.50%		8/1/2030	—		(33)		(33)
			Secured Debt	(9)	8/1/2025		9.80%	SF+	5.50%		8/1/2030	27,595		27,128		27,128
			Common Equity		8/1/2025	1,521							1,521		1,521
													28,549		28,549
AMEREQUIP LLC	(10)	Full Services Provider Including Design, Engineering and Manufacturing of Commercial and Agricultural Equipment
			Common Stock	(8)	8/31/2022	235							1,844		100
American Health Staffing Group, Inc.	(10)	Healthcare Temporary Staffing
			Secured Debt	(9) (25)	11/19/2021			P+	5.00%		11/19/2026	—		(3)		(3)
			Secured Debt	(9)	11/19/2021		12.50%	P+	5.00%		11/19/2026	5,600		5,586		5,600
													5,583		5,597
ArborWorks, LLC	(10)	Vegetation Management Services
			Secured Debt		11/6/2023		15.00%			15.00%	11/6/2028	2,857		2,857		2,857
			Secured Debt	(9)	11/6/2023		10.75%	SF+	6.50%	10.75%	11/6/2028	8,746		8,746		8,746
			Preferred Equity		11/6/2023	32,507							14,060		15,836
			Preferred Equity		11/6/2023	32,507							—		—
			Common Equity		11/9/2021	3,898							234		—
													25,897		27,439
Archer Systems, LLC	(10)	Mass Tort Settlement Administration Solutions Provider
			Common Stock	(8)	8/11/2022	1,387,832							1,388		2,380
ATS Operating, LLC	(10)	For-Profit Thrift Retailer
			Secured Debt	(9) (32)	1/18/2022		10.53%	SF+	6.00%		1/18/2028	1,620		1,549		1,620
			Secured Debt	(9)	1/18/2022		9.55%	SF+	5.00%		1/18/2028	6,660		6,660		6,660
			Secured Debt	(9)	1/18/2022		11.55%	SF+	7.00%		1/18/2028	6,660		6,660		6,660

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Common Stock		1/18/2022	720,000							720		920
													15,589		15,860
AVEX Aviation Holdings, LLC	(10)	Specialty Aircraft Dealer & MRO Provider
			Secured Debt	(9) (25)	12/23/2022			SF+	7.25%		12/23/2027	—		(67)		(67)
			Secured Debt	(9)	12/23/2022		11.40%	SF+	7.25%		12/23/2027	23,607		23,176		23,607
			Common Equity	(8)	12/15/2021	984							934		920
													24,043		24,460
Berry Aviation, Inc.	(10)	Charter Airline Services
			Preferred Member Units	(29)	3/8/2024	286,109							286		—
			Preferred Member Units	(29)	11/12/2019	122,416							—		—
			Preferred Member Units	(29)	7/6/2018	1,548,387							—		—
													286		—
Bettercloud, Inc.	(10)	SaaS Provider of Workflow Management and Business Application Solutions
			Secured Debt	(9) (14)	6/30/2022		14.56%	SF+	10.25%	7.25%	6/30/2028	503		454		81
			Secured Debt	(9) (14) (38)	6/30/2025		14.56%	SF+	10.25%	7.25%	6/30/2028	3,700		2,199		590
			Secured Debt	(9) (14)	6/30/2022		14.58%	SF+	10.25%	7.25%	6/30/2028	31,792		31,484		5,070
			Secured Debt	(9) (14) (38)	6/30/2025		14.58%	SF+	10.25%	7.25%	6/30/2028	100,947		4,071		16,099
													38,208		21,840
Binswanger Enterprises, LLC	(10)	Glass Repair and Installation Service Provider
			Member Units		3/10/2017	1,050,000							1,050		1,060
Bluestem Brands, Inc.	(11)	Multi-Channel Retailer of General Merchandise
			Secured Debt	(9) (14)	1/9/2024		12.89%	SF+	8.50%	11.89%	1/31/2026	202		130		55
			Secured Debt	(9) (14)	10/19/2022		15.00%	P+	7.50%	14.75%	1/31/2026	3,150		3,150		845
			Secured Debt	(9) (14)	8/28/2020		12.89%	SF+	8.50%	12.89%	1/31/2026	4,183		3,961		1,122
			Common Stock		10/1/2020	723,184							1		—
			Warrants	(27)	10/19/2022	163,295					10/19/2032		1,036		—
													8,278		2,022
B-O-F Corporation	(10)	Manufacturer of Gravity Flow Shelving Solutions for Retail Applications
			Secured Debt	(9) (25)	2/3/2025			SF+	5.75%		2/3/2030	—		(18)		(18)
			Secured Debt	(9)	2/3/2025		9.04%	SF+	4.75%		2/3/2030	4,145		4,082		4,112
			Secured Debt	(9)	2/3/2025		11.04%	SF+	6.75%		2/3/2030	4,145		4,082		4,112
			Common Equity		2/3/2025	248,718							249		249
													8,395		8,455
Bond Brand Loyalty ULC	(10) (13) (21)	Provider of Loyalty Marketing Services
			Secured Debt	(9)	5/1/2023		11.44%	SF+	7.00%		5/1/2028	571		556		571

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt	(9)	5/1/2023		10.44%	SF+	6.00%	5/1/2028	6,293		6,227		6,293
			Secured Debt	(9)	5/1/2023		12.44%	SF+	8.00%	5/1/2028	6,293		6,227		6,293
			Preferred Equity		5/1/2023	571						571		550
			Common Equity		5/1/2023	571						—		—
												13,581		13,707
BP Loenbro Holdings Inc.	(10)	Specialty Industrial Maintenance Services
			Secured Debt	(9)	2/1/2024		10.01%	SF+	5.75%	2/1/2029	899		761		899
			Secured Debt	(9)	2/1/2024		10.14%	SF+	5.75%	2/1/2029	2,984		2,922		2,984
			Secured Debt	(9)	2/1/2024		10.17%	SF+	5.75%	2/1/2029	25,673		25,323		25,673
			Secured Debt	(9)	1/2/2025		10.14%	SF+	5.75%	2/1/2029	9,410		9,294		9,410
			Secured Debt	(9)	7/1/2025		10.14%	SF+	5.75%	2/1/2029	14,899		14,622		14,899
			Common Equity		2/1/2024	2,583,963						2,709		7,420
												55,631		61,285
Brainworks Software, LLC	(10)	Advertising Sales and Newspaper Circulation Software
			Secured Debt	(9) (14) (17)	8/12/2014		15.25%	P+	7.25%	7/22/2019	761		761		—
			Secured Debt	(9) (14) (17)	8/12/2014		15.25%	P+	7.25%	7/22/2019	7,056		7,056		—
												7,817		—
Brightwood Capital Fund Investments	(12) (13)	Investment Partnership
			LP Interests (Brightwood Capital Fund III, LP)	(30)	7/21/2014	1.59%						5,079		2,788
			LP Interests (Brightwood Capital Fund IV, LP)	(8) (30)	10/26/2016	0.59%						3,375		3,484
			LP Interests (Brightwood Capital Fund V, LP)	(8) (30)	7/12/2021	0.72%						4,900		5,201
												13,354		11,473
Burning Glass Intermediate Holding Company, Inc.	(10)	Provider of Skills-Based Labor Market Analytics
			Secured Debt	(9)	6/14/2021		9.43%	SF+	5.00%	6/10/2026	1,758		1,753		1,758
			Secured Debt	(9)	6/14/2021		9.15%	SF+	5.00%	6/10/2028	16,956		16,835		16,956
												18,588		18,714
CaseWorthy, Inc.	(10)	SaaS Provider of Case Management Solutions
			Common Equity		12/30/2022	325,408						325		660
Channel Partners Intermediateco, LLC	(10)	Outsourced Consumer Services Provider
			Secured Debt	(9) (32)	2/7/2022		11.20%	SF+	6.75%	2/7/2027	5,593		5,519		5,593
			Secured Debt	(9)	2/7/2022		11.23%	SF+	6.75%	2/7/2027	35,887		35,690		35,887
			Secured Debt	(9)	6/24/2022		11.23%	SF+	6.75%	2/7/2027	1,988		1,978		1,988
			Secured Debt	(9)	3/27/2023		11.23%	SF+	6.75%	2/7/2027	4,806		4,762		4,806
												47,949		48,274

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Clarius BIGS, LLC	(10)	Prints & Advertising Film Financing
			Secured Debt	(14) (17)	9/23/2014						1/5/2015	2,633		2,633		12
Computer Data Source, LLC	(10)	Third Party Maintenance Provider to the Data Center Ecosystem
			Secured Debt	(9) (32)	8/6/2021		12.61%	SF+	8.25%	12.61%	8/6/2026	8,573		8,529		7,886
			Secured Debt	(9)	8/6/2021		12.64%	SF+	8.25%	12.64%	8/6/2026	20,860		20,798		19,175
													29,327		27,061
Core Transformers	(10)	Refurbisher and Distributor of Electric Transformers
			Secured Debt	(9) (25)	9/24/2025			SF+	5.50%		9/23/2031	—		(62)		(62)
			Secured Debt	(9) (25)	9/24/2025			SF+	5.50%		9/23/2031	—		(62)		(62)
			Secured Debt	(9)	9/24/2025		9.66%	SF+	5.50%		9/23/2031	6,269		6,146		6,146
			Common Equity		9/24/2025	626,923							627		627
													6,649		6,649
Coregistics Buyer LLC	(10) (13) (21)	Contract Packaging Service Provider
			Secured Debt	(9)	6/29/2024		10.70%	SF+	6.50%		6/28/2029	1,669		1,603		1,669
			Secured Debt	(9)	6/29/2024		10.81%	SF+	6.50%		6/28/2029	10,597		10,405		10,597
			Secured Debt	(9)	8/15/2024		10.69%	SF+	6.50%		6/28/2029	7,064		6,956		7,064
			Secured Debt	(9)	6/29/2024		11.06%	SF+	6.75%		6/28/2029	31,760		31,166		31,264
													50,130		50,594
CQ Fluency, LLC	(10)	Global Language Services Provider
			Secured Debt	(9) (25)	12/27/2023			SF+	6.75%		6/27/2027	—		(33)		(33)
			Secured Debt	(9)	12/27/2023		10.85%	SF+	6.75%		6/27/2027	10,406		10,252		10,406
													10,219		10,373
Creative Foam Corporation	(10)	Manufacturer of Custom Engineered Die Cut, Formed Foam, Nonwoven, and Multi-material Component Solutions for the Automotive and Healthcare Markets
			Secured Debt	(9) (25)	6/27/2024			SF+	6.50%		6/27/2029	—		(197)		(197)
			Secured Debt	(9)	6/27/2024		10.50%	SF+	6.50%		6/27/2029	90,356		88,986		90,356
			Secured Debt	(9)	3/4/2025		10.79%	SF+	6.50%		6/27/2029	5,635		5,530		5,635
			Common Equity		3/4/2025	10,851							1,085		930
													95,404		96,724
Dalton US Inc.	(10)	Provider of Supplemental Labor Services
			Common Stock		8/16/2022	515							720		650
DTE Enterprises, LLC	(10)	Industrial Powertrain Repair and Services
			Class AA Preferred Member Units (non-voting)		4/13/2018		10.00%			10.00%			1,316		—
			Class A Preferred Member Units		4/13/2018	776,316	8.00%			8.00%			776		—

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
													2,092		—
Dynamic Communities, LLC	(10)	Developer of Business Events and Online Community Groups
			Secured Debt	(9)	12/20/2022		12.26%	SF+	8.00%	12.26%	12/31/2026	2,534		2,402		2,534
			Secured Debt	(9)	12/20/2022		13.26%	SF+	9.00%		12/31/2026	2,493		2,260		2,463
			Preferred Equity		12/20/2022	125,000							128		110
			Preferred Equity		12/20/2022	2,376,241							—		—
			Common Equity		12/20/2022	1,250,000							—		—
													4,790		5,107
Electro Technical Industries, LLC	(10)	Manufacturer of Mission-Critical Electrical Distribution Systems
			Secured Debt	(9) (25)	3/31/2025			SF+	5.50%		3/31/2030	—		(157)		(157)
			Secured Debt	(9)	3/31/2025		9.66%	SF+	5.50%		3/31/2030	50,476		49,576		50,404
			Common Equity		3/31/2025	1,464,286							1,464		1,890
													50,883		52,137
Emerald Technologies Acquisition Co, Inc.	(11)	Design & Manufacturing
			Secured Debt	(9)	2/10/2022		10.60%	SF+	6.25%		12/29/2027	9,394		9,281		6,576
EnCap Energy Fund Investments	(12) (13)	Investment Partnership
			LP Interests (EnCap Energy Capital Fund VIII, L.P.)	(8) (30)	1/22/2015	0.14%							3,445		1,846
			LP Interests (EnCap Energy Capital Fund VIII Co-Investors, L.P.)	(8) (30)	1/21/2015	0.38%							1,841		817
			LP Interests (EnCap Energy Capital Fund IX, L.P.)	(8) (30)	1/22/2015	0.10%							3,198		1,118
			LP Interests (EnCap Energy Capital Fund X, L.P.)	(8) (30)	3/25/2015	0.15%							6,961		4,660
			LP Interests (EnCap Energy Capital Fund XII, L.P.)	(8) (30)	8/31/2023	0.19%							4,906		5,102
			LP Interests (EnCap Flatrock Midstream Fund II, L.P.)	(8) (30)	3/30/2015	0.84%							3,799		15
			LP Interests (EnCap Flatrock Midstream Fund III, L.P.)	(8) (30)	3/27/2015	0.25%							3,371		1,878
													27,521		15,436
Escalent, Inc.	(10)	Market Research and Consulting Firm
			Secured Debt	(9)	4/7/2023		9.99%	SF+	6.00%		4/7/2029	504		481		504
			Secured Debt	(9)	10/2/2024		10.00%	SF+	6.00%		4/7/2029	1,364		1,346		1,364
			Secured Debt	(9)	4/7/2023		10.00%	SF+	6.00%		4/7/2029	25,716		25,260		25,716
			Common Equity	(8)	4/7/2023	649,794							663		910
													27,750		28,494

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Event Holdco, LLC	(10)	Event and Learning Management Software for Healthcare Organizations and Systems
			Secured Debt	(9)	12/22/2021		11.26%	SF+	7.00%	12/22/2026	3,692		3,683		3,692
			Secured Debt	(9)	12/22/2021		11.26%	SF+	7.00%	12/22/2026	48,174		48,064		48,174
												51,747		51,866
Fuse, LLC	(11)	Cable Networks Operator
			Secured Debt		6/30/2019		12.00%			12/31/2028	1,810		1,810		558
			Common Stock		6/30/2019	10,429						256		—
												2,066		558
Garyline, LLC	(10)	Manufacturer of Consumer Plastic Products
			Secured Debt	(9) (32)	4/14/2025		11.20%	SF+	7.00%	10/14/2027	3,080		2,999		3,080
			Secured Debt	(9)	4/14/2025		11.14%	SF+	7.00%	10/14/2027	28,789		28,325		28,789
			Common Equity		11/10/2023	705,882						706		450
												32,030		32,319
GradeEight Corp.	(10)	Distributor of Maintenance and Repair Parts
			Secured Debt	(9) (25)	10/4/2024			P+	6.25%	10/4/2029	—		(80)		(80)
			Secured Debt	(9) (25)	10/4/2024			SF+	7.25%	10/4/2029	—		(40)		(40)
			Secured Debt	(9) (26)	10/4/2024		11.47%	SF+	7.25%	10/4/2029	31,010		30,514		30,270
			Common Equity		10/4/2024	1,365						1,365		960
												31,759		31,110
GS HVAM Intermediate, LLC	(10)	Specialized Food Distributor
			Secured Debt	(9) (32)	10/18/2019		10.81%	SF+	6.50%	11/30/2026	4,040		4,019		4,040
			Secured Debt	(9)	10/18/2019		10.85%	SF+	6.50%	11/30/2026	10,419		10,363		10,419
			Secured Debt	(9)	9/15/2023		10.85%	SF+	6.50%	11/30/2026	935		930		935
			Secured Debt	(9)	12/22/2023		10.85%	SF+	6.50%	11/30/2026	223		222		223
			Secured Debt	(9)	8/22/2024		10.85%	SF+	6.50%	11/30/2026	6,026		5,991		6,026
												21,525		21,643
GULF PACIFIC ACQUISITION, LLC	(10)	Rice Processor and Merchandiser
			Secured Debt	(9) (32)	9/30/2022		11.26%	SF+	7.00%	9/30/2028	454		443		419
			Secured Debt	(9)	9/30/2022		11.24%	SF+	7.00%	9/30/2028	295		286		273
			Secured Debt	(9)	9/30/2022		11.26%	SF+	7.00%	9/30/2028	3,551		3,507		3,271
												4,236		3,963
Harris Preston Fund Investments	(12) (13)	Investment Partnership
			LP Interests (423 AER II, LP)	(30)	6/2/2025	4.13%						1,526		1,526
HDC/HW Intermediate Holdings	(10)	Managed Services and Hosting Provider
			Secured Debt	(9) (26)	5/1/2025		13.34%	SF+	9.00%	6/21/2026	91		91		91

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt	(9)	3/7/2024		9.01%	SF+	3.50%	2.50%	6/21/2026	2,681		2,633		2,631
			Secured Debt	(14)	3/7/2024		2.50%			2.50%	6/21/2026	1,626		713		72
			Common Equity		3/7/2024	64,029							—		—
													3,437		2,794
Hornblower Sub, LLC	(10)	Marine Tourism and Transportation
			Secured Debt	(9) (32)	7/3/2024		9.65%	SF+	5.50%		7/3/2029	4,170		4,133		4,112
			Secured Debt	(9)	7/3/2024		9.80%	SF+	5.50%		7/3/2029	32,682		32,417		32,228
													36,550		36,340
HOWLCO LLC	(11) (13) (21)	Provider of Accounting and Business Development Software to Real Estate End Markets
			Secured Debt	(9)	8/19/2021		10.97%	SF+	6.50%	3.50%	10/23/2027	26,944		26,944		26,375
Hybrid Promotions, LLC	(10)	Wholesaler of Licensed, Branded and Private Label Apparel
			Secured Debt	(9)	6/30/2021		12.54%	SF+	8.25%		12/31/2027	7,200		7,105		7,200
IG Parent Corporation	(11)	Software Engineering
			Secured Debt	(9) (25)	7/30/2021			SF+	5.75%		7/30/2028	—		(9)		—
			Secured Debt	(9)	7/30/2021		10.01%	SF+	5.75%		7/30/2028	10,154		10,090		10,154
			Secured Debt	(9)	7/30/2021		10.01%	SF+	5.75%		7/30/2028	4,865		4,832		4,865
													14,913		15,019
Imaging Business Machines, L.L.C.	(10)	Technology Hardware & Equipment
			Common Equity		6/8/2023	849							1,166		980
Implus Footcare, LLC	(10)	Provider of Footwear and Related Accessories
			Secured Debt	(9) (26)	6/13/2025		10.01%	SF+	6.00%	4.00%	10/30/2028	1,924		1,924		1,924
			Secured Debt	(9)	7/31/2025		10.31%	SF+	6.00%	10.31%	10/30/2028	4,314		4,314		4,314
			Common Equity		7/31/2025	4,238,917							5,680		5,820
													11,918		12,058
Insight Borrower Corporation	(10)	Test, Inspection, and Certification Instrument Provider
			Secured Debt	(9)	7/19/2023		10.57%	SF+	6.25%		7/19/2028	206		163		195
			Secured Debt	(9)	7/19/2023		10.58%	SF+	6.25%		7/19/2029	14,154		13,844		13,364
			Common Equity		7/19/2023	131,100							656		270
													14,663		13,829
Inspire Aesthetics Management, LLC	(10)	Surgical and Non-Surgical Plastic Surgery and Aesthetics Provider
			Secured Debt	(9)	4/3/2023		14.38%	SF+	10.00%	2.00%	4/3/2028	853		841		797
			Secured Debt	(9)	4/3/2023		14.38%	SF+	10.00%	2.00%	4/3/2028	7,304		7,211		6,824
			Secured Debt	(9)	6/14/2023		14.38%	SF+	10.00%	2.00%	4/3/2028	2,938		2,903		2,745
			Secured Debt	(9)	12/31/2024		14.38%	SF+	10.00%	2.00%	4/3/2028	339		339		316

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Common Equity		4/3/2023	177,594							463		97
													11,757		10,779
Interface Security Systems, L.L.C	(10)	Commercial Security & Alarm Services
			Secured Debt	(17) (32)	12/9/2021		14.20%	SF+	10.00%	14.20%	8/7/2023	2,309		2,309		1,932
			Secured Debt	(9) (14) (17)	8/7/2019		11.43%	SF+	7.00%	11.43%	8/7/2023	7,313		7,237		5
			Common Stock		12/7/2021	2,143							—		—
													9,546		1,937
Invincible Boat Company, LLC.	(10)	Manufacturer of Sport Fishing Boats
			Secured Debt	(9)	8/28/2019		11.81%	SF+	7.50%		3/31/2028	1,037		1,030		958
			Secured Debt	(9)	8/28/2019		11.81%	SF+	7.50%	3.81%	3/31/2028	16,648		16,604		15,086
													17,634		16,044
Isagenix International, LLC	(11)	Direct Marketer of Health & Wellness Products
			Secured Debt	(9) (35)	4/13/2023		2.50%				4/14/2028	3,159		3,000		458
			Common Equity		4/13/2023	198,743							—		—
													3,000		458
Island Pump and Tank, LLC	(10)	Provider of Facility and Maintenance Services to Fuel Retailers in Northeast U.S.
			Secured Debt	(9) (32)	5/20/2024		11.41%	SF+	7.00%		5/17/2029	456		452		454
			Secured Debt	(9)	5/20/2024		10.55%	SF+	6.00%		5/17/2029	2,111		2,082		2,101
			Secured Debt	(9)	5/20/2024		11.55%	SF+	7.00%		5/17/2029	2,111		2,082		2,101
			Secured Debt	(9)	5/20/2024		12.55%	SF+	8.00%		5/17/2029	2,111		2,082		2,101
													6,698		6,757
Jackmont Hospitality, Inc.	(10)	Franchisee of Casual Dining Restaurants
			Secured Debt	(9) (26)	10/26/2022		11.42%	SF+	7.00%		11/4/2026	771		765		771
			Secured Debt	(9) (26)	2/27/2024		11.28%	SF+	7.00%		11/4/2026	625		621		625
			Secured Debt	(9) (26)	11/1/2024		11.23%	SF+	7.00%		11/4/2026	667		656		667
			Secured Debt	(9)	11/8/2021		11.38%	SF+	7.00%		11/4/2026	1,764		1,752		1,764
			Preferred Equity		11/8/2021	2,826,667							110		750
													3,904		4,577
JDC Power Services, LLC	(10)	Provider of Electrical Equipment and Maintenance Services for Datacenters
			Secured Debt	(9) (25)	6/28/2024			SF+	6.25%		6/28/2029	—		(135)		(135)
			Secured Debt	(9)	6/28/2024		10.25%	SF+	6.25%		6/28/2029	59,808		58,668		59,808
													58,533		59,673
Joerns Healthcare, LLC	(11)	Manufacturer and Distributor of Health Care Equipment & Supplies
			Secured Debt	(9)	3/30/2024		13.13%	SF+	8.75%	6.00%	3/29/2029	1,852		1,852		1,852
			Secured Debt	(9)	3/30/2024		13.13%	SF+	8.75%	6.00%	3/29/2029	1,383		1,383		1,383
			Common Stock		3/29/2024	5,461,019							200		350

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
													3,435		3,585
LKCM Headwater Investments I, L.P.	(12) (13)	Investment Partnership
			LP Interests	(8) (30)	1/25/2013	2.27%							—		792
LLFlex, LLC	(10)	Provider of Metal-Based Laminates
			Secured Debt	(9)	8/16/2021		12.44%	SF+	8.00%	3.00%	8/16/2026	4,205		4,178		3,188
Logix Acquisition Company, LLC	(10)	Competitive Local Exchange Carrier
			Secured Debt	(9)	4/11/2025		11.83%	SF+	7.50%	2.75%	12/31/2028	43,819		43,078		43,819
			Secured Debt		4/11/2025						12/31/2028	2,963		2,231		1,896
													45,309		45,715
Looking Glass Investments, LLC	(12) (13)	Specialty Consumer Finance
			Member Units		7/1/2015	3							125		25
Microbe Formulas, LLC	(10)	Nutritional Supplements Provider
			Secured Debt	(9) (25)	4/4/2022			SF+	5.75%		4/3/2028	—		(30)		(30)
			Secured Debt	(9)	11/20/2024		10.01%	SF+	5.75%		4/3/2028	11,051		10,936		11,051
			Secured Debt	(9)	4/4/2022		10.01%	SF+	5.75%		4/3/2028	15,723		15,587		15,723
													26,493		26,744
Mini Melts of America, LLC	(10)	Manufacturer and Distributor of Branded Premium Beaded Ice Cream
			Secured Debt	(9) (32)	11/30/2023		10.47%	SF+	6.25%		11/30/2028	850		823		808
			Secured Debt	(9) (26)	11/30/2023		10.44%	SF+	6.25%		11/30/2028	1,308		1,287		1,243
			Secured Debt	(9)	11/30/2023		9.45%	SF+	5.25%		11/30/2028	4,845		4,771		4,603
			Secured Debt	(9)	11/30/2023		11.45%	SF+	7.25%		11/30/2028	4,845		4,767		4,603
			Common Equity		11/30/2023	524,888							525		280
													12,173		11,537
Mission Critical Group	(10)	Backup Power Generation
			Secured Debt	(9) (25)	4/17/2025			SF+	6.00%		4/17/2030	—		(207)		(207)
			Secured Debt	(9) (25)	4/17/2025			SF+	6.00%		4/17/2030	—		(248)		(248)
			Secured Debt	(9)	4/17/2025		10.14%	SF+	6.00%		4/17/2030	66,265		65,070		66,265
			Common Equity		6/7/2023	1,234							1,234		11,430
													65,849		77,240
MonitorUS Holding, LLC	(10) (13) (21)	SaaS Provider of Media Intelligence Services
			Secured Debt	(9)	5/24/2022		10.51%	SF+	6.25%		5/24/2027	4,101		4,076		4,416
			Secured Debt	(9)	5/24/2022		10.51%	SF+	6.25%		5/24/2027	10,687		10,618		12,427
			Secured Debt	(9)	5/24/2022		10.51%	SF+	6.25%		5/24/2027	17,975		17,865		17,975
			Secured Debt	(9)	6/25/2025		10.51%	SF+	6.25%		5/24/2027	1,234		1,214		1,226
			Unsecured Debt		9/25/2024		8.00%			8.00%	12/21/2025	114		114		114

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Unsecured Debt		1/31/2025		8.00%			8.00%	3/31/2026	79		79		79
			Common Stock		8/30/2022	86,766,906							1,045		602
													35,011		36,839
Obra Capital, Inc.	(10)	Provider of Asset Management Services Specialized in Insurance-Linked Strategies
			Secured Debt	(9) (25)	6/21/2024			SF+	7.25%		12/21/2028	—		(3)		(3)
			Secured Debt	(9)	6/21/2024		11.50%	SF+	7.25%		6/21/2029	26,155		25,575		26,155
			Secured Debt	(9)	5/13/2025		11.50%	SF+	7.25%		6/21/2029	3,163		3,077		3,163
													28,649		29,315
OnPoint Industrial Services, LLC	(10)	Environmental & Facilities Services
			Secured Debt	(9)	12/18/2024		10.00%	SF+	6.00%		11/16/2027	1,390		1,377		1,389
			Secured Debt	(9)	4/1/2024		10.00%	SF+	6.00%		11/16/2027	3,861		3,831		3,861
													5,208		5,250
Ospemifene Royalty Sub LLC	(10)	Estrogen-Deficiency Drug Manufacturer and Distributor
			Secured Debt	(14)	7/8/2013						11/15/2026	4,360		4,360		31
Peaches Holding Corporation		Wholesale Provider of Consumer Packaging Solutions
			Common Equity		5/22/2024	3,226							7,221		—
PrimeFlight Aviation Services	(10) (13)	Air Freight & Logistics
			Secured Debt	(9)	5/1/2023		9.80%	SF+	5.50%		5/1/2029	7,820		7,646		7,820
			Secured Debt	(9)	9/7/2023		9.50%	SF+	5.50%		5/1/2029	747		729		747
			Secured Debt	(9)	1/30/2024		9.50%	SF+	5.50%		5/1/2029	750		737		750
			Secured Debt	(9)	6/28/2024		9.25%	SF+	5.25%		5/1/2029	853		843		853
			Secured Debt	(9)	1/21/2025		9.58%	SF+	5.25%		5/1/2029	1,890		1,875		1,890
			Secured Debt	(9)	7/31/2025		9.55%	SF+	5.25%		5/1/2029	2,026		2,007		2,026
													13,837		14,086
PTL US Bidco, Inc	(10) (13) (21)	Manufacturers of Equipment, Including Drilling Rigs and Equipment, and Providers of Supplies and Services to Companies Involved in the Drilling, Evaluation and Completion of Oil and Gas Wells
			Secured Debt	(9) (32)	8/19/2022		11.75%	SF+	7.25%		8/19/2027	6,838		6,727		6,838
			Secured Debt	(9)	8/19/2022		11.71%	SF+	7.25%		8/19/2027	15,664		15,480		15,664
													22,207		22,502
Purge Rite, LLC	(10)	HVAC Flushing and Filtration Services
			Preferred Equity		10/2/2023	32,813							3,248		3,248
			Common Equity		4/1/2024	32,813							33		15,650
													3,281		18,898

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Richardson Sales Solutions	(10)	Business Services
			Secured Debt	(9) (32)	8/24/2023		10.71%	SF+	6.50%		8/24/2028	1,093		1,034		1,093
			Secured Debt	(9)	8/24/2023		10.81%	SF+	6.50%		8/24/2028	33,388		32,729		33,388
			Secured Debt	(9)	9/10/2024		10.83%	SF+	6.50%		8/24/2028	21,684		21,367		21,684
													55,130		56,165
Roof Opco, LLC	(10)	Residential Re-Roofing/Repair
			Secured Debt	(9) (25)	8/27/2021			SF+	8.00%		8/27/2026	—		(3)		—
			Secured Debt	(9)	8/27/2021		11.55%	SF+	7.00%		8/27/2026	3,376		3,353		2,531
			Secured Debt	(9)	8/27/2021		13.55%	SF+	9.00%		8/27/2026	3,376		3,353		2,529
													6,703		5,060
Rug Doctor, LLC.	(10)	Carpet Cleaning Products and Machinery
			Secured Debt	(9)	7/16/2021		11.94%	SF+	7.75%	2.00%	11/16/2025	3,721		3,720		3,696
			Secured Debt	(9)	7/16/2021		11.94%	SF+	7.75%	2.00%	11/16/2025	6,935		6,932		6,888
													10,652		10,584
South Coast Terminals Holdings, LLC	(10)	Specialty Toll Chemical Manufacturer
			Secured Debt	(9)	8/8/2024		9.26%	SF+	5.00%		8/8/2029	955		955		955
			Secured Debt	(9)	8/8/2024		9.26%	SF+	5.00%		8/8/2029	53,320		53,001		53,320
			Secured Debt	(9)	7/31/2025		9.26%	SF+	5.00%		8/8/2029	10,501		10,403		10,501
			Common Equity		12/10/2021	864							864		941
													65,223		65,717
SPAU Holdings, LLC	(10)	Digital Photo Product Provider
			Secured Debt	(9) (32)	7/1/2022		11.24%	SF+	7.00%		7/1/2027	3,194		3,166		3,194
			Secured Debt	(9)	7/1/2022		11.15%	SF+	7.00%		7/1/2027	15,449		15,311		15,449
			Common Stock		7/1/2022	638,710							639		630
													19,116		19,273
TEC Services, LLC	(10)	Provider of Janitorial Service for Food Retailers
			Secured Debt	(9) (25)	12/31/2024			SF+	5.50%		12/31/2029	—		(81)		(81)
			Secured Debt	(9) (25)	12/31/2024			SF+	5.50%		12/31/2029	—		(61)		(61)
			Secured Debt	(9)	12/31/2024		9.60%	SF+	5.50%		12/31/2029	32,091		31,690		31,879
													31,548		31,737
Tectonic Financial, LLC		Financial Services Organization
			Common Stock	(8)	5/15/2017	200,000							2,000		4,720
Tex Tech Tennis, LLC	(10)	Sporting Goods & Textiles
			Preferred Equity	(29)	7/7/2021	1,000,000							1,000		2,620
Titan Meter Midco Corp.	(10)	Value Added Distributor of a Variety of Metering and Measurement Products and Solutions to the Energy Industry
			Secured Debt	(9)	3/11/2024		10.50%	SF+	6.50%		3/11/2029	1,439		1,353		1,439

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
			Secured Debt	(9)	3/11/2024		10.50%	SF+	6.50%		3/11/2029	33,670		32,864		33,670
			Secured Debt	(9)	2/27/2025		10.50%	SF+	6.50%		3/11/2029	4,308		4,218		4,308
			Secured Debt	(9)	8/5/2025		10.50%	SF+	6.50%		3/11/2029	4,875		4,759		4,875
			Preferred Equity		3/11/2024	1,358,892	8.00%			8.00%			1,375		1,400
													44,569		45,692
U.S. TelePacific Corp.	(11)	Provider of Communications and Managed Services
			Secured Debt	(9) (14)	6/1/2023		11.72%	SF+	7.40%	6.25%	5/2/2027	9,811		2,611		3,975
			Secured Debt	(14)	6/1/2023						5/2/2027	1,003		20		—
													2,631		3,975
UPS Intermediate, LLC	(10)	Provider of Maintenance, Repair, and Overhaul Services for Industrial Equipment Serving the Refining, Chemical, Midstream, Renewables, Power, and Utilities End Markets
			Secured Debt	(9)	7/29/2024		10.41%	SF+	6.25%		7/27/2029	43,012		42,364		42,688
			Common Equity		7/29/2024	1,443,299							1,443		1,540
													43,807		44,228
UserZoom Technologies, Inc.	(10)	Provider of User Experience Research Automation Software
			Secured Debt	(9)	1/11/2023		11.63%	SF+	7.50%		4/5/2029	4,000		3,933		4,000
Vitesse Systems	(10)	Component Manufacturing and Machining Platform
			Secured Debt	(32)	12/22/2023		11.28%	SF+	7.00%		12/22/2028	7,727		7,588		7,727
			Secured Debt	(9)	12/22/2023		11.26%	SF+	7.00%		12/22/2028	41,756		41,085		41,756
													48,673		49,483
VORTEQ Coil Finishers, LLC	(10)	Specialty Coating of Aluminum and Light-Gauge Steel
			Common Equity	(8)	11/30/2021	1,038,462							1,038		3,160
Wash & Wax Systems LLC	(10)	Express Car Wash Operator
			Secured Debt	(9)	4/30/2025		9.81%	SF+	5.50%		4/30/2028	10		10		10
			Secured Debt	(9)	4/30/2025		9.78%	SF+	5.50%	9.78%	4/30/2028	7,677		7,677		7,677
			Secured Debt		4/30/2025		12.00%			12.00%	7/31/2028	5,079		5,079		5,079
			Common Equity		4/30/2025	3,219							3,410		3,120
													16,176		15,886
Watterson Brands, LLC	(10)	Facility Management Services
			Secured Debt		12/17/2021		12.00%			4.00%	12/17/2026	2,339		2,328		1,951
			Secured Debt		12/17/2021		12.00%			4.00%	12/17/2026	404		395		337
			Secured Debt		12/17/2021		12.00%			4.00%	12/17/2026	16,630		16,568		13,867
			Secured Debt		12/17/2021		12.00%			4.00%	12/17/2026	13,302		13,252		11,092
													32,543		27,247

Portfolio Company (1) (20) · Business Description · Type of Investment(2) (3) (15) · Investment Date(24) · Shares/Units · Total Rate · Reference Rate and Spread (28) · PIK Rate (19) · MaturityDate · Principal (4) · Cost (4) · Fair Value (18)
Winter Services LLC	(10)	Provider of Snow Removal and Ice Management Services
			Secured Debt	(9) (32)	11/19/2021	11.77%	SF+	7.50%	11/19/2026	1,289		1,265		1,289
			Secured Debt	(9)	11/19/2021	12.05%	SF+	7.50%	11/19/2026	1,874		1,863		1,874
			Secured Debt	(9)	1/16/2024	11.05%	SF+	6.50%	11/19/2026	7,240		7,173		7,240
			Secured Debt	(9)	1/16/2024	13.05%	SF+	8.50%	11/19/2026	7,240		7,173		7,240
											17,474		17,643
Xenon Arc, Inc.	(10)	Tech-enabled Distribution Services to Chemicals and Food Ingredients Primary Producers
			Secured Debt	(9)	12/17/2021	9.85%	SF+	5.75%	12/20/2028	23,632		23,418		23,632
			Secured Debt	(9)	12/17/2021	10.18%	SF+	5.75%	12/20/2028	37,152		36,847		37,152
			Secured Debt	(9)	3/31/2025	9.85%	SF+	5.75%	12/20/2028	10,578		10,399		10,578
											70,664		71,362
YS Garments, LLC	(11)	Designer and Provider of Branded Activewear
			Secured Debt	(9)	8/22/2018	11.92%	SF+	7.50%	8/9/2026	10,592		10,513		8,899
ZRG Partners, LLC	(10)	Talent Advisory Services Provider
			Secured Debt	(9)	6/14/2024	12.50%	P+	5.00%	6/14/2029	5,211		5,057		5,211
			Secured Debt	(9) (26)	6/14/2024	10.31%	SF+	6.00%	6/14/2029	11,810		11,571		11,810
			Secured Debt	(9)	6/14/2024	10.17%	SF+	6.00%	6/14/2029	6,518		6,419		6,518
			Secured Debt	(9)	6/14/2024	10.14%	SF+	6.00%	6/14/2029	46,651		45,937		46,651
											68,984		70,190
Subtotal Non-Control/Non-Affiliate investments (62.7% of net assets at fair value)											$1,872,021		$1,838,685
Total Portfolio Company investments, September 30, 2025 (175.4% of net assets at fair value)											$4,345,983		$5,147,773
Money market funds (included in cash and cash equivalents)
Dreyfus Government Cash Management (36)											$4,402		$4,402
Fidelity Government Fund (37)											4,148		4,148
Fidelity Treasury (31)											2,094		2,094
Total money market funds											$10,644		$10,644

(1)All investments are LMM (as defined below) portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of LMM portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Corporate Facility or SPV Facility (each as defined below) or in support of the debentures guaranteed by the SBA (as defined below) and issued by the Funds (as defined below).

(2)Debt investments are income producing, unless otherwise noted by footnote (14), as described below. Equity and warrants are non-income producing, unless otherwise noted by footnote (8), as described below.

(3)See Note C — Fair Value Hierarchy for Investments — Portfolio Composition and Schedule 12-14 for a summary of geographic location of portfolio companies.

(4)Principal is net of repayments. Cost is net of repayments and accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.

(5)“Control” investments are defined by the 1940 Act as investments in which more than 25% of the voting securities are owned or where the ability to nominate greater than 50% of the board representation is maintained.

(6)“Affiliate” investments are defined by the 1940 Act as investments in which between 5% and 25% (inclusive) of the voting securities are owned and the investments are not classified as Control investments.

(7)“Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.

(8)Income producing through dividends or distributions.

(9)Index based floating interest rate is subject to contractual minimum interest rate. As noted in this schedule,96% of the loans (based on the par amount) contain Term Secured Overnight Financing Rate (“SOFR”) floors which range between 0.50% and 5.25%, with a weighted-average floor of 1.30%.

(10)Private Loan (as defined below) portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Private Loan portfolio investments.

(11)Middle Market (as defined below) portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Middle Market portfolio investments.

(12)Other Portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Other Portfolio investments.

(13)Investment is not a qualifying asset as defined under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70% of total assets at the time of acquisition of any additional non-qualifying assets.

(14)Non-accrual and non-income producing debt investment.

(15)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.”

(16)External Investment Manager (as defined below). Investment is not encumbered as security for the Credit Facilities (as defined below) or in support of the SBA-guaranteed debentures issued by the Funds.

(17)Maturity date is under on-going negotiations with the portfolio company and other lenders, if applicable.

(18)Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments —Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.

(19)Investments may have a portion, or all, of their income received from Paid-in-Kind (“PIK”) interest or dividends. PIK interest income and cumulative dividend income represent income not paid currently in cash. The difference between the Total Rate and PIK Rate represents the cash rate as of September 30, 2025.

(20)All portfolio company headquarters are based in the United States, unless otherwise noted.

(21)Portfolio company headquarters are located outside of the United States.

(22)The Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the

Company receives a higher interest rate than the contractual stated interest rate of SOFR+6.50% (Floor 1.50%) per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate.

(23)The Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of 11.85% per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate.

(24)Investment Date represents the date of initial investment in the security position.

(25)The position is unfunded and no interest income is being earned as of September 30, 2025. The position may earn a nominal unused facility fee on committed amounts.

(26)Each new draw or funding on the facility has a different floating rate reset date. The rate presented represents a weighted-average rate for borrowings under the facility, as of September 30, 2025.

(27)Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit.

(28)A majority of the variable rate loans in the Investment Portfolio (as defined below) bear interest at a rate that may be determined by reference to either SOFR (“SF”) or an alternate base rate (commonly based on the federal funds rate or the prime rate (“P”)), which typically resets every one, three, or six months at the borrower’s option. SOFR based contracts may include a credit spread adjustment (the “Adjustment”) that is charged in addition to the stated spread. The Adjustment is applied when the SOFR, plus the Adjustment, exceeds the stated floor rate, as applicable. As of September 30, 2025, SOFR based contracts in the portfolio had Adjustments ranging from 0.10% to 0.26%.

(29)Shares/Units represent ownership in a related real estate or holding entity.

(30)Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated.

(31)Effective yield as of September 30, 2025 was approximately 3.77% on the Fidelity Treasury.

(32)Revolving line of credit facility permits the borrower to make an interest rate election regarding the base rate on each draw under the facility. The rate presented represents a weighted-average rate for borrowings under the facility, as of September 30, 2025.

(33)Index based floating interest rate is subject to contractual maximum base rate of 3.00%.

(34)Index based floating interest rate is subject to contractual maximum base rate of 4.00%.

(35)Investment is accruing income at the fixed cash rate of 2.50% as of September 30, 2025.

(36)Effective yield as of September 30, 2025 was approximately 4.12% on the Dreyfus Government Cash Management.

(37)Effective yield as of September 30, 2025 was approximately 3.80% on the Fidelity Government Fund.

(38)Investment purchased through a distressed sale with the intention to be sold on a short-term basis.

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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.