New Mountain Finance Corp
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
View on SEC.govAbout 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, 2024 · Filed Oct 30, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Schedule of Investments as of December 31, 2023
Consolidated Schedule of Investments
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Controlled/Non-Affiliated Investments | ||||||||||||
| Funded Debt Investments - United States | ||||||||||||
| Paw Midco, Inc. | ||||||||||||
| AAH Topco, LLC | ||||||||||||
| Consumer Services | First lien (2)(15)(18) - Drawn | SOFR(M) | 5.50% | 10.96% | 12/2021 | 12/2027 | $22,965 | $22,772 | $22,965 | |||
| First lien (8)(15) | SOFR(M) | 5.50% | 10.96% | 12/2021 | 12/2027 | 20,426 | 20,278 | 20,426 | ||||
| First lien (4)(15) | SOFR(M) | 5.50% | 10.96% | 01/2022 | 12/2027 | 9,698 | 9,628 | 9,698 | ||||
| First lien (4)(15)(18) - Drawn | SOFR(M) | 5.50% | 10.96% | 12/2021 | 12/2027 | 7,450 | 7,388 | 7,450 | ||||
| Subordinated (3)(15) | FIXED(Q)* | 11.50%/PIK | 11.50% | 12/2021 | 12/2031 | 14,011 | 13,865 | 13,420 | ||||
| Subordinated (4)(15) | FIXED(Q)* | 11.50%/PIK | 11.50% | 01/2022 | 12/2031 | 5,495 | 5,437 | 5,263 | ||||
| 79,368 | 79,222 | 5.95% | ||||||||||
| Associations, Inc. | ||||||||||||
| Business Services | First lien (2)(15) | SOFR(Q)* | 4.00% + 2.50%/PIK | 12.18% | 07/2021 | 07/2027 | 33,701 | 33,604 | 33,701 | |||
| First lien (2)(15) | SOFR(Q)* | 4.00% + 2.50%/PIK | 12.13% | 07/2021 | 07/2027 | 9,037 | 9,007 | 9,037 | ||||
| First lien (8)(15) | SOFR(Q)* | 4.00% + 2.50%/PIK | 12.15% | 07/2021 | 07/2027 | 9,036 | 9,006 | 9,036 | ||||
| First lien (8)(15) | SOFR(Q)* | 4.00% + 2.50%/PIK | 12.13% | 07/2021 | 07/2027 | 5,457 | 5,439 | 5,457 | ||||
| First lien (8)(15) | SOFR(Q)* | 4.00% + 2.50%/PIK | 12.17% | 07/2021 | 07/2027 | 4,341 | 4,327 | 4,341 | ||||
| First lien (2)(15) | SOFR(Q)* | 4.00% + 2.50%/PIK | 12.16% | 10/2023 | 07/2027 | 4,121 | 4,102 | 4,121 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.50% | 12.14% | 07/2021 | 07/2027 | 1,252 | 1,246 | 1,252 | ||||
| 66,731 | 66,945 | 5.03% | ||||||||||
| Knockout Intermediate Holdings I Inc. (32) | ||||||||||||
| Kaseya Inc. | ||||||||||||
| Software | First lien (2)(15) | SOFR(Q)* | 3.50% + 2.50%/PIK | 11.38% | 06/2022 | 06/2029 | 63,633 | 63,237 | 63,633 | |||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 5.50% | 10.86% | 06/2022 | 06/2029 | 973 | 966 | 973 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q)* | 3.50% + 2.50%/PIK | 11.38% | 06/2022 | 06/2029 | 237 | 235 | 237 | ||||
| 64,438 | 64,843 | 4.87% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GC Waves Holdings, Inc. | ||||||||||||
| Financial Services | First lien (2)(15) | SOFR(M) | 6.00% | 11.46% | 08/2021 | 08/2028 | $40,270 | $40,008 | $40,270 | |||
| First lien (5)(15) | SOFR(M) | 6.00% | 11.46% | 08/2021 | 08/2028 | 21,666 | 21,591 | 21,666 | ||||
| First lien (2)(15)(18) - Drawn | SOFR(M) | 6.00% | 11.46% | 10/2019 | 08/2028 | 451 | 446 | 451 | ||||
| 62,045 | 62,387 | 4.68% | ||||||||||
| GS Acquisitionco, Inc. | ||||||||||||
| Software | First lien (2)(15) | SOFR(Q) | 5.50% | 11.00% | 08/2019 | 05/2026 | 34,023 | 33,947 | 34,023 | |||
| First lien (5)(15) | SOFR(Q) | 5.50% | 11.00% | 08/2019 | 05/2026 | 21,521 | 21,476 | 21,521 | ||||
| 55,423 | 55,544 | 4.17% | ||||||||||
| CentralSquare Technologies, LLC | ||||||||||||
| Software | Second lien (3)(15) | SOFR(Q) | 7.50% | 13.00% | 08/2018 | 08/2026 | 47,838 | 47,581 | 45,072 | |||
| Second lien (8)(15) | SOFR(Q) | 7.50% | 13.00% | 08/2018 | 08/2026 | 7,500 | 7,459 | 7,066 | ||||
| 55,040 | 52,138 | 3.91% | ||||||||||
| IG Intermediateco LLC | ||||||||||||
| Infogain Corporation | ||||||||||||
| Business Services | First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 07/2021 | 07/2028 | 18,707 | 18,605 | 18,707 | |||
| First lien (8)(15) | SOFR(M) | 5.50% | 10.96% | 07/2022 | 07/2028 | 7,844 | 7,781 | 7,844 | ||||
| Subordinated (3)(15) | SOFR(Q) | 8.25% | 13.70% | 07/2022 | 07/2029 | 17,245 | 17,060 | 17,245 | ||||
| 43,446 | 43,796 | 3.29% | ||||||||||
| iCIMS, Inc. | ||||||||||||
| Software | First lien (8)(15) | SOFR(Q)* | 3.88%/PIK + 3.38% | 12.62% | 08/2022 | 08/2028 | 30,783 | 30,569 | 31,008 | |||
| First lien (2)(15) | SOFR(Q) | 7.25% | 12.62% | 10/2022 | 08/2028 | 7,366 | 7,311 | 7,440 | ||||
| First lien (2)(15) | SOFR(Q)* | 3.88%/PIK + 3.38% | 12.62% | 09/2023 | 08/2028 | 4,772 | 4,726 | 4,807 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.75% | 12.10% | 08/2022 | 08/2028 | 471 | 467 | 471 | ||||
| 43,073 | 43,726 | 3.28% | ||||||||||
| Deca Dental Holdings LLC | ||||||||||||
| Healthcare | First lien (2)(15) | SOFR(Q) | 5.75% | 11.20% | 08/2021 | 08/2028 | 37,477 | 37,204 | 36,791 | |||
| First lien (3)(15) | SOFR(Q) | 5.75% | 11.20% | 08/2021 | 08/2028 | 3,945 | 3,915 | 3,873 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 5.75% | 11.20% | 08/2021 | 08/2027 | 2,623 | 2,597 | 2,576 | ||||
| 43,716 | 43,240 | 3.25% | ||||||||||
| MRI Software LLC | ||||||||||||
| Software | First lien (5)(15) | SOFR(Q) | 5.50% | 10.95% | 01/2020 | 02/2027 | 21,655 | 21,610 | 21,598 | |||
| First lien (3)(15) | SOFR(Q) | 5.50% | 10.95% | 03/2021 | 02/2027 | 7,670 | 7,655 | 7,650 | ||||
| First lien (2)(15) | SOFR(Q) | 5.50% | 10.95% | 03/2021 | 02/2027 | 4,568 | 4,561 | 4,557 | ||||
| First lien (2)(15) | SOFR(Q) | 5.50% | 10.95% | 01/2020 | 02/2027 | 3,140 | 3,133 | 3,132 | ||||
| First lien (3)(15) | SOFR(Q) | 5.50% | 10.95% | 01/2020 | 02/2027 | 801 | 799 | 800 | ||||
| 37,758 | 37,737 | 2.83% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WEG Sub Intermediate Holdings, LLC | ||||||||||||
| Wealth Enhancement Group, LLC | ||||||||||||
| Financial Services | First lien (2)(15) | SOFR(Q) | 5.75% | 11.11% | 08/2021 | 10/2027 | $18,758 | $18,715 | $18,758 | |||
| First lien (2)(15)(18) - Drawn | SOFR(Q) | 5.75% | 11.20% | 05/2022 | 10/2027 | 13,336 | 13,307 | 13,336 | ||||
| First lien (2)(15) | SOFR(Q) | 5.75% | 11.23% | 01/2022 | 10/2027 | 1,241 | 1,232 | 1,241 | ||||
| First lien (2)(15) | SOFR(Q) | 5.75% | 11.23% | 01/2022 | 10/2027 | 832 | 826 | 832 | ||||
| Subordinated (3)(15) | FIXED(Q)* | 15.00%/PIK | 15.00% | 05/2023 | 05/2033 | 3,513 | 3,464 | 3,459 | ||||
| 37,544 | 37,626 | 2.83% | ||||||||||
| Recorded Future, Inc. | ||||||||||||
| Software | First lien (8)(15) | SOFR(M) | 5.25% | 10.71% | 08/2019 | 07/2025 | 24,220 | 24,147 | 24,220 | |||
| First lien (2)(15) | SOFR(M) | 5.25% | 10.71% | 03/2021 | 07/2025 | 12,524 | 12,484 | 12,524 | ||||
| 36,631 | 36,744 | 2.76% | ||||||||||
| Auctane Inc. (fka Stamps.com Inc.) | ||||||||||||
| Software | First lien (8)(15) | SOFR(Q) | 5.75% | 11.23% | 10/2021 | 10/2028 | 21,847 | 21,684 | 21,473 | |||
| First lien (2)(15) | SOFR(Q) | 5.75% | 11.23% | 10/2021 | 10/2028 | 14,774 | 14,664 | 14,522 | ||||
| 36,348 | 35,995 | 2.70% | ||||||||||
| OEC Holdco, LLC (21) | ||||||||||||
| OEConnection LLC | ||||||||||||
| Software | Second lien (2)(15) | SOFR(M) | 7.00% | 12.46% | 12/2021 | 09/2027 | 23,406 | 23,239 | 23,406 | |||
| Second lien (2)(15) | SOFR(M) | 7.00% | 12.46% | 09/2019 | 09/2027 | 12,044 | 11,977 | 12,044 | ||||
| 35,216 | 35,450 | 2.66% | ||||||||||
| Foreside Financial Group, LLC | ||||||||||||
| Business Services | First lien (2)(15) | SOFR(Q) | 5.50% | 11.04% | 05/2022 | 09/2027 | 33,698 | 33,444 | 33,698 | |||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 5.50% | 11.02% | 05/2022 | 09/2027 | 1,006 | 996 | 1,006 | ||||
| First lien (3)(15) | SOFR(Q) | 5.50% | 11.04% | 05/2022 | 09/2027 | 347 | 344 | 347 | ||||
| 34,784 | 35,051 | 2.63% | ||||||||||
| KAMC Holdings, Inc. | ||||||||||||
| Business Services | Second lien (2)(15) | SOFR(Q) | 8.00% | 13.63% | 08/2019 | 08/2027 | 18,750 | 18,673 | 17,079 | |||
| Second lien (8)(15) | SOFR(Q) | 8.00% | 13.63% | 08/2019 | 08/2027 | 18,750 | 18,673 | 17,079 | ||||
| 37,346 | 34,158 | 2.56% | ||||||||||
| IG Investments Holdings, LLC | ||||||||||||
| Business Services | First lien (2)(15) | SOFR(Q) | 6.00% | 11.48% | 09/2021 | 09/2028 | 28,839 | 28,625 | 28,839 | |||
| First lien (2)(15) | SOFR(Q) | 6.00% | 11.48% | 02/2022 | 09/2028 | 4,214 | 4,197 | 4,214 | ||||
| 32,822 | 33,053 | 2.48% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Granicus, Inc. | ||||||||||||
| Software | First lien (4)(15) | SOFR(Q)* | 5.50% + 1.50%/PIK | 12.48% | 01/2021 | 01/2027 | $15,463 | $15,396 | $15,463 | |||
| First lien (8)(15) | SOFR(Q)* | 5.50% + 1.50%/PIK | 12.48% | 01/2021 | 01/2027 | 5,981 | 5,954 | 5,981 | ||||
| First lien (2)(15) | SOFR(Q)* | 5.50% + 1.50%/PIK | 12.48% | 01/2021 | 01/2027 | 5,899 | 5,874 | 5,899 | ||||
| First lien (2)(15) | SOFR(Q) | 6.00% | 11.48% | 04/2021 | 01/2027 | 4,542 | 4,511 | 4,542 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 6.50% | 11.96% | 01/2021 | 01/2027 | 579 | 575 | 579 | ||||
| 32,310 | 32,464 | 2.44% | ||||||||||
| TigerConnect, Inc. | ||||||||||||
| Healthcare | First lien (8)(15) | SOFR(Q)* | 3.38% + 3.38%/PIK | 12.28% | 02/2022 | 02/2028 | 29,868 | 29,644 | 29,614 | |||
| First lien (2)(15)(18) - Drawn | SOFR(Q)* | 3.38% + 3.38%/PIK | 12.28% | 02/2022 | 02/2028 | 1,354 | 1,354 | 1,343 | ||||
| 30,998 | 30,957 | 2.32% | ||||||||||
| Diamond Parent Holdings Corp. (27) | ||||||||||||
| Diligent Corporation | ||||||||||||
| Software | First lien (2)(15) | SOFR(Q) | 5.75% | 11.28% | 03/2021 | 08/2025 | 17,404 | 17,369 | 16,998 | |||
| First lien (3)(15) | SOFR(Q) | 6.25% | 11.78% | 12/2018 | 08/2025 | 5,768 | 5,755 | 5,654 | ||||
| First lien (2)(15) | SOFR(Q) | 5.75% | 11.28% | 03/2021 | 08/2025 | 5,679 | 5,667 | 5,546 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.25% | 11.76% | 03/2021 | 08/2025 | 1,957 | 1,947 | 1,919 | ||||
| 30,738 | 30,117 | 2.26% | ||||||||||
| OA Topco, L.P. (31) | ||||||||||||
| OA Buyer, Inc. | ||||||||||||
| Healthcare | First lien (2)(15) | SOFR(M) | 5.50% | 10.86% | 12/2021 | 12/2028 | 27,707 | 27,493 | 27,707 | |||
| First lien (2)(15) | SOFR(M) | 5.50% | 10.86% | 05/2022 | 12/2028 | 1,754 | 1,740 | 1,754 | ||||
| 29,233 | 29,461 | 2.21% | ||||||||||
| NMC Crimson Holdings, Inc. | ||||||||||||
| Healthcare | First lien (8)(15) | SOFR(Q) | 6.09% | 11.64% | 03/2021 | 03/2028 | 19,259 | 19,067 | 19,133 | |||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.09% | 11.62% | 03/2021 | 03/2028 | 5,012 | 4,992 | 4,979 | ||||
| First lien (2)(15) | SOFR(Q) | 6.09% | 11.64% | 03/2021 | 03/2028 | 4,913 | 4,864 | 4,881 | ||||
| 28,923 | 28,993 | 2.18% | ||||||||||
| Foundational Education Group, Inc. | ||||||||||||
| Education | Second lien (5)(15) | SOFR(Q) | 6.50% | 12.14% | 08/2021 | 08/2029 | 22,500 | 22,412 | 22,100 | |||
| Second lien (2)(15) | SOFR(Q) | 6.50% | 12.14% | 08/2021 | 08/2029 | 7,009 | 6,989 | 6,884 | ||||
| 29,401 | 28,984 | 2.18% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fortis Solutions Group, LLC | |||||||||||||
| Packaging | First lien (2)(15) | SOFR(Q) | 5.50% | 10.95% | 10/2021 | 10/2028 | $17,353 | $17,219 | $17,243 | ||||
| First lien (8)(15) | SOFR(Q) | 5.50% | 10.95% | 10/2021 | 10/2028 | 10,092 | 10,017 | 10,028 | |||||
| First lien (3)(15) | SOFR(Q) | 5.50% | 10.95% | 10/2021 | 10/2028 | 1,178 | 1,168 | 1,171 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 5.50% | 10.95% | 10/2021 | 10/2027 | 143 | 142 | 142 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 5.50% | 10.98% | 06/2022 | 10/2028 | 138 | 137 | 138 | |||||
| First lien (3)(15) | SOFR(Q) | 5.50% | 10.95% | 10/2021 | 10/2028 | 80 | 80 | 80 | |||||
| 28,763 | 28,802 | 2.16% | |||||||||||
| PetVet Care Centers, LLC | |||||||||||||
| Consumer Services | First lien (2) | SOFR(M) | 6.00% | 11.36% | 10/2023 | 11/2030 | 28,430 | 28,148 | 28,439 | 2.14% | |||
| Syndigo LLC | |||||||||||||
| Software | Second lien (4)(15) | SOFR(M) | 8.00% | 13.48% | 12/2020 | 12/2028 | 22,500 | 22,379 | 22,500 | ||||
| Second lien (2)(15) | SOFR(M) | 8.00% | 13.48% | 02/2022 | 12/2028 | 5,697 | 5,708 | 5,697 | |||||
| 28,087 | 28,197 | 2.12% | |||||||||||
| ACI Parent Inc. (28) | |||||||||||||
| ACI Group Holdings, Inc. | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 08/2021 | 08/2028 | 22,025 | 21,868 | 21,498 | ||||
| First lien (3)(15) | SOFR(M) | 5.50% | 10.96% | 08/2021 | 08/2028 | 3,904 | 3,871 | 3,810 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 5.50% | 10.96% | 08/2021 | 08/2028 | 1,397 | 1,384 | 1,364 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 5.50% | 10.96% | 08/2021 | 08/2027 | 353 | 350 | 345 | |||||
| 27,473 | 27,017 | 2.03% | |||||||||||
| CRCI Longhorn Holdings, Inc. | |||||||||||||
| Business Services | Second lien (3)(15) | SOFR(M) | 7.25% | 12.71% | 08/2018 | 08/2026 | 18,266 | 18,237 | 18,184 | ||||
| Second lien (8)(15) | SOFR(M) | 7.25% | 12.71% | 08/2018 | 08/2026 | 7,500 | 7,488 | 7,467 | |||||
| 25,725 | 25,651 | 1.93% | |||||||||||
| Idera, Inc. | |||||||||||||
| Software | Second lien (4)(15) | SOFR(Q) | 6.75% | 12.28% | 06/2019 | 03/2029 | 22,500 | 22,273 | 22,500 | ||||
| Second lien (3)(15) | SOFR(Q) | 6.75% | 12.28% | 04/2021 | 03/2029 | 3,000 | 2,989 | 3,000 | |||||
| 25,262 | 25,500 | 1.91% | |||||||||||
| AmeriVet Partners Management, Inc. | |||||||||||||
| Consumer Services | First lien (2)(15) | SOFR(Q) | 5.50% | 11.00% | 02/2022 | 02/2028 | 19,159 | 19,089 | 19,159 | ||||
| First lien (2)(15) | SOFR(Q) | 5.50% | 11.00% | 02/2022 | 02/2028 | 5,331 | 5,308 | 5,331 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 5.50% | 11.00% | 02/2022 | 02/2028 | 700 | 697 | 700 | |||||
| 25,094 | 25,190 | 1.89% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DOCS, MSO, LLC | |||||||||||||
| Healthcare | First lien (8)(15) | SOFR(M) | 5.75% | 11.20% | 06/2022 | 06/2028 | $18,572 | $18,572 | $18,238 | ||||
| First lien (4)(15) | SOFR(M) | 5.75% | 11.20% | 06/2022 | 06/2028 | 6,955 | 6,955 | 6,830 | |||||
| 25,527 | 25,068 | 1.88% | |||||||||||
| HS Purchaser, LLC / Help/Systems Holdings, Inc. | |||||||||||||
| Software | Second lien (5)(15) | SOFR(S) | 6.75% | 12.35% | 11/2019 | 11/2027 | 22,500 | 22,429 | 21,059 | ||||
| Second lien (2)(15) | SOFR(S) | 6.75% | 12.35% | 11/2019 | 11/2027 | 4,208 | 4,184 | 3,938 | |||||
| 26,613 | 24,997 | 1.88% | |||||||||||
| Xactly Corporation | |||||||||||||
| Software | First lien (4)(15) | SOFR(Q) | 7.25% | 12.74% | 07/2017 | 07/2025 | 22,500 | 22,472 | 22,500 | 1.69% | |||
| Sierra Enterprises, LLC | |||||||||||||
| Food & Beverage | First lien (3) | SOFR(Q)* | 4.25%/PIK + 2.50% | 12.13% | 06/2023 | 05/2027 | 23,780 | 20,370 | 22,055 | 1.66% | |||
| FS WhiteWater Holdings, LLC (29) | |||||||||||||
| FS WhiteWater Borrower, LLC | |||||||||||||
| Consumer Services | First lien (5)(15) | SOFR(Q) | 5.75% | 11.25% | 12/2021 | 12/2027 | 10,290 | 10,217 | 10,125 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.00% | 11.52% | 07/2022 | 12/2027 | 4,503 | 4,462 | 4,466 | |||||
| First lien (5)(15) | SOFR(Q) | 5.75% | 11.28% | 12/2021 | 12/2027 | 3,454 | 3,427 | 3,398 | |||||
| First lien (5)(15) | SOFR(Q) | 5.75% | 11.25% | 12/2021 | 12/2027 | 3,432 | 3,407 | 3,378 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 5.75% | 11.26% | 12/2021 | 12/2027 | 315 | 312 | 310 | |||||
| 21,825 | 21,677 | 1.63% | |||||||||||
| Bullhorn, Inc. | |||||||||||||
| Software | First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 09/2019 | 09/2026 | 16,487 | 16,432 | 16,487 | ||||
| First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 10/2021 | 09/2026 | 3,407 | 3,401 | 3,407 | |||||
| First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 09/2019 | 09/2026 | 763 | 760 | 763 | |||||
| First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 09/2019 | 09/2026 | 342 | 341 | 342 | |||||
| First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 09/2019 | 09/2026 | 273 | 272 | 273 | |||||
| 21,206 | 21,272 | 1.60% | |||||||||||
| YLG Holdings, Inc. | |||||||||||||
| Business Services | First lien (5)(15) | SOFR(Q) | 5.00% | 10.48% | 11/2019 | 10/2025 | 17,677 | 17,646 | 17,676 | ||||
| First lien (5)(15) | SOFR(Q) | 5.00% | 10.48% | 11/2019 | 10/2025 | 2,302 | 2,298 | 2,301 | |||||
| First lien (5)(15)(18) - Drawn | SOFR(Q) | 5.00% | 10.48% | 10/2021 | 10/2025 | 1,204 | 1,196 | 1,204 | |||||
| First lien (5)(15)(18) - Drawn | SOFR(Q) | 5.50% | 10.99% | 10/2021 | 10/2025 | 80 | 80 | 80 | |||||
| 21,220 | 21,261 | 1.60% | |||||||||||
| TMK Hawk Parent, Corp. | |||||||||||||
| Distribution & Logistics | First lien (2)(15) | SOFR(Q) | 3.50% | 9.14% | 06/2019 | 08/2024 | 16,227 | 15,852 | 9,736 | ||||
| First lien (8)(15) | SOFR(Q) | 3.50% | 9.14% | 10/2019 | 08/2024 | 15,651 | 15,190 | 9,392 | |||||
| First lien (2) | SOFR(M) | 9.50% | 14.98% | 12/2023 | 05/2024 | 1,033 | 1,033 | 1,033 | |||||
| First lien (8) | SOFR(M) | 9.50% | 14.98% | 12/2023 | 05/2024 | 996 | 996 | 996 | |||||
| 33,071 | 21,157 | 1.59% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AAC Lender Holdings, LLC (26) | |||||||||||||
| American Achievement Corporation (aka AAC Holding Corp.) | |||||||||||||
| Education | First lien (2)(15) | SOFR(M)(34)* | 5.75%/PIK + 0.50% | 11.69% | 09/2015 | 09/2026 | $29,879 | $29,842 | $20,586 | ||||
| First lien (3)(15) | SOFR(M)(34)* | 13.50%/PIK + 0.50% | 19.44% | 06/2021 | 09/2026 | 1,527 | 1,527 | — | |||||
| Subordinated (3)(15) | SOFR(Q)(34)* | 1.00%/PIK | 7.54% | 03/2021 | 09/2026 | 5,230 | — | — | |||||
| 31,369 | 20,586 | 1.55% | |||||||||||
| MED Parentco, LP | |||||||||||||
| Healthcare | Second lien (8)(15) | SOFR(M) | 8.25% | 13.72% | 08/2019 | 08/2027 | 20,857 | 20,769 | 20,119 | 1.51% | |||
| Brave Parent Holdings, Inc. | |||||||||||||
| Software | First lien (5)(15) | SOFR(M) | 5.00% | 10.36% | 11/2023 | 11/2030 | 20,171 | 20,071 | 20,070 | 1.51% | |||
| Cardinal Parent, Inc. | |||||||||||||
| Software | First lien (4) | SOFR(Q) | 4.50% | 10.00% | 10/2020 | 11/2027 | 11,852 | 11,798 | 10,919 | ||||
| Second lien (4)(15) | SOFR(Q) | 7.75% | 13.25% | 11/2020 | 11/2028 | 9,767 | 9,698 | 8,975 | |||||
| 21,496 | 19,894 | 1.49% | |||||||||||
| Convey Health Solutions, Inc. | |||||||||||||
| Healthcare | First lien (4)(15) | SOFR(Q) | 5.25% | 10.70% | 09/2019 | 09/2026 | 19,022 | 18,928 | 16,768 | ||||
| First lien (4)(15) | SOFR(Q) | 5.25% | 10.70% | 02/2022 | 09/2026 | 3,176 | 3,146 | 2,800 | |||||
| 22,074 | 19,568 | 1.47% | |||||||||||
| Trinity Air Consultants Holdings Corporation | |||||||||||||
| Business Services | First lien (2)(15) | SOFR(S) | 5.75% | 11.29% | 06/2021 | 06/2027 | 15,382 | 15,283 | 15,382 | ||||
| First lien (2)(15)(18) - Drawn | SOFR(S) | 5.75% | 11.18% | 06/2021 | 06/2027 | 4,070 | 4,038 | 4,070 | |||||
| 19,321 | 19,452 | 1.46% | |||||||||||
| Groundworks, LLC | |||||||||||||
| Consumer Services | First lien (4)(15) | SOFR(Q) | 6.50% | 11.90% | 03/2023 | 03/2030 | 19,517 | 19,245 | 19,330 | 1.45% | |||
| Notorious Topco, LLC | |||||||||||||
| Consumer Products | First lien (8)(15) | SOFR(Q) | 6.75% | 12.28% | 11/2021 | 11/2027 | 9,950 | 9,896 | 9,215 | ||||
| First lien (8)(15) | SOFR(Q) | 6.75% | 12.28% | 05/2022 | 11/2027 | 9,825 | 9,769 | 9,100 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.75% | 12.28% | 11/2021 | 11/2027 | 867 | 858 | 803 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.75% | 12.28% | 11/2021 | 05/2027 | 59 | 59 | 55 | |||||
| 20,582 | 19,173 | 1.44% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pioneer Topco I, L.P. (30) | |||||||||||||
| Pioneer Buyer I, LLC | |||||||||||||
| Software | First lien (8)(15) | SOFR(Q)* | 7.00%/PIK | 12.35% | 11/2021 | 11/2028 | $16,802 | $16,700 | $16,802 | ||||
| First lien (8)(15) | SOFR(Q)* | 7.00%/PIK | 12.35% | 03/2022 | 11/2028 | 2,303 | 2,287 | 2,303 | |||||
| 18,987 | 19,105 | 1.43% | |||||||||||
| DG Investment Intermediate Holdings 2, Inc. | |||||||||||||
| Business Services | Second lien (3) | SOFR(M) | 6.75% | 12.22% | 03/2021 | 03/2029 | 20,313 | 20,275 | 18,333 | 1.38% | |||
| Power Grid Holdings, Inc. | |||||||||||||
| Business Products | First lien (4)(15) | SOFR(Q) | 4.75% | 10.14% | 11/2023 | 12/2030 | 18,193 | 18,013 | 18,011 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 4.75% | 10.12% | 11/2023 | 12/2030 | 214 | 212 | 212 | |||||
| 18,225 | 18,223 | 1.37% | |||||||||||
| Avalara, Inc. | |||||||||||||
| Software | First lien (8)(15) | SOFR(Q) | 7.25% | 12.60% | 10/2022 | 10/2028 | 17,198 | 17,015 | 17,198 | 1.29% | |||
| Coyote Buyer, LLC | |||||||||||||
| Specialty Chemicals & Materials | First lien (5) | SOFR(Q) | 6.00% | 11.53% | 03/2020 | 02/2026 | 13,653 | 13,625 | 13,653 | ||||
| First lien (5) | SOFR(Q) | 8.00% | 13.54% | 10/2020 | 08/2026 | 2,457 | 2,445 | 2,457 | |||||
| 16,070 | 16,110 | 1.21% | |||||||||||
| Oranje Holdco, Inc. | |||||||||||||
| Education | First lien (8)(15) | SOFR(Q) | 7.50% | 12.88% | 02/2023 | 02/2029 | 7,440 | 7,357 | 7,440 | ||||
| First lien (2)(15) | SOFR(Q) | 7.50% | 12.88% | 02/2023 | 02/2029 | 7,440 | 7,357 | 7,440 | |||||
| 14,714 | 14,880 | 1.12% | |||||||||||
| EAB Global, Inc. | |||||||||||||
| Education | Second lien (2)(15) | SOFR(M) | 6.50% | 11.97% | 08/2021 | 08/2029 | 14,868 | 14,695 | 14,868 | 1.12% | |||
| Kele Holdco, Inc. | |||||||||||||
| Distribution & Logistics | First lien (5)(15) | SOFR(M) | 5.25% | 10.71% | 02/2020 | 02/2026 | 14,796 | 14,767 | 14,796 | 1.11% | |||
| Coupa Holdings, LLC | |||||||||||||
| Software | First lien (2)(15) | SOFR(M) | 7.50% | 12.86% | 02/2023 | 02/2030 | 7,230 | 7,147 | 7,303 | ||||
| First lien (8)(15) | SOFR(M) | 7.50% | 12.86% | 02/2023 | 02/2030 | 7,230 | 7,147 | 7,303 | |||||
| 14,294 | 14,606 | 1.10% | |||||||||||
| Daxko Acquisition Corporation | |||||||||||||
| Software | First lien (8)(15) | SOFR(M) | 5.50% | 10.96% | 10/2021 | 10/2028 | 13,011 | 12,914 | 13,011 | ||||
| First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 10/2021 | 10/2028 | 1,096 | 1,088 | 1,096 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 5.50% | 10.96% | 10/2021 | 10/2028 | 66 | 65 | 66 | |||||
| First lien (3)(15)(18) - Drawn | P(Q) | 4.50% | 13.00% | 10/2021 | 10/2027 | 66 | 65 | 66 | |||||
| 14,132 | 14,239 | 1.07% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IMO Investor Holdings, Inc. | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(Q) | 6.00% | 11.40% | 05/2022 | 05/2029 | $12,844 | $12,739 | $12,742 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(S) | 6.00% | 11.39% | 05/2022 | 05/2029 | 1,139 | 1,128 | 1,130 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(S) | 6.00% | 11.42% | 05/2022 | 05/2028 | 62 | 61 | 61 | |||||
| 13,928 | 13,933 | 1.05% | |||||||||||
| Alegeus Technologies Holdings Corp. | |||||||||||||
| Healthcare | First lien (8)(15) | SOFR(S) | 8.25% | 13.75% | 09/2018 | 09/2024 | 13,444 | 13,433 | 13,444 | 1.01% | |||
| Calabrio, Inc. | |||||||||||||
| Software | First lien (5) | SOFR(M) | 7.13% | 12.48% | 04/2021 | 04/2027 | 12,347 | 12,290 | 12,224 | ||||
| First lien (3)(18) - Drawn | SOFR(M) | 7.13% | 12.48% | 04/2021 | 04/2027 | 850 | 843 | 841 | |||||
| 13,133 | 13,065 | 0.98% | |||||||||||
| USRP Holdings, Inc. | |||||||||||||
| Business Services | First lien (2)(15) | SOFR(S) | 5.75% | 11.18% | 07/2021 | 07/2027 | 11,226 | 11,152 | 11,226 | ||||
| First lien (3)(15) | SOFR(S) | 5.75% | 11.18% | 07/2021 | 07/2027 | 1,462 | 1,451 | 1,462 | |||||
| 12,603 | 12,688 | 0.95% | |||||||||||
| CFS Management, LLC | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(Q)* | 6.25% + 0.75%/PIK | 12.61% | 08/2019 | 07/2024 | 11,188 | 11,181 | 9,775 | ||||
| First lien (2)(15) | SOFR(Q)* | 6.25% + 0.75%/PIK | 12.61% | 08/2019 | 07/2024 | 3,333 | 3,330 | 2,912 | |||||
| 14,511 | 12,687 | 0.95% | |||||||||||
| CHA Holdings, Inc. | |||||||||||||
| Business Services | Second lien (4)(15) | SOFR(M) | 8.75% | 14.22% | 04/2018 | 04/2026 | 7,012 | 6,985 | 7,012 | ||||
| Second lien (3)(15) | SOFR(M) | 8.75% | 14.22% | 04/2018 | 04/2026 | 4,453 | 4,436 | 4,454 | |||||
| 11,421 | 11,466 | 0.86% | |||||||||||
| Anaplan, Inc. | |||||||||||||
| Software | First lien (2)(15) | SOFR(Q) | 6.50% | 11.85% | 06/2022 | 06/2029 | 10,618 | 10,535 | 10,618 | 0.80% | |||
| Specialtycare, Inc. | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(Q) | 5.75% | 11.41% | 06/2021 | 06/2028 | 10,352 | 10,253 | 9,938 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 4.00% | 9.46% | 06/2021 | 06/2026 | 78 | 77 | 76 | |||||
| First lien (3)(15) | SOFR(Q) | 5.75% | 11.41% | 06/2021 | 06/2028 | 78 | 76 | 76 | |||||
| 10,406 | 10,090 | 0.76% | |||||||||||
| Quartz Holding Company | |||||||||||||
| Software | Second lien (3)(15) | SOFR(M) | 8.00% | 13.46% | 04/2019 | 04/2027 | 10,000 | 9,900 | 10,000 | 0.75% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CG Group Holdings, LLC | |||||||||||||
| Specialty Chemicals & Materials | First lien (2)(15) | SOFR(Q)* | 6.75% + 2.00%/PIK | 14.10% | 07/2021 | 07/2027 | $8,403 | $8,342 | $8,039 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(M)* | 6.75% + 2.00%/PIK | 14.11% | 07/2021 | 07/2026 | 935 | 925 | 894 | |||||
| 9,267 | 8,933 | 0.67% | |||||||||||
| KPSKY Acquisition Inc. | |||||||||||||
| Business Services | First lien (8)(15) | SOFR(Q) | 5.25% | 10.73% | 10/2021 | 10/2028 | 6,898 | 6,846 | 6,763 | ||||
| First lien (2)(15)(18) - Drawn | SOFR(Q) | 5.25% | 10.73% | 06/2022 | 10/2028 | 1,160 | 1,150 | 1,138 | |||||
| First lien (2)(15) | SOFR(Q) | 5.25% | 10.76% | 10/2021 | 10/2028 | 790 | 784 | 774 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 5.75% | 11.23% | 11/2023 | 10/2028 | 19 | 19 | 19 | |||||
| 8,799 | 8,694 | 0.65% | |||||||||||
| Ncontracts, LLC | |||||||||||||
| Software | First lien (2) | SOFR(S) | 6.50% | 11.80% | 12/2023 | 12/2029 | 8,372 | 8,268 | 8,267 | 0.62% | |||
| Virtusa Corporation | |||||||||||||
| Business Services | Subordinated (3) | FIXED(S) | 7.13% | 7.13% | 10/2022 | 12/2028 | 9,401 | 7,565 | 8,077 | 0.61% | |||
| PPVA Black Elk (Equity) LLC | |||||||||||||
| Business Services | Subordinated (3)(15) | SOFR(Q) | — | — | 05/2013 | — | 14,500 | 14,500 | 7,975 | 0.60% | |||
| TRC Companies L.L.C. (fka Energize Holdco LLC) | |||||||||||||
| Business Services | Second lien (2)(15) | SOFR(M) | 6.75% | 12.22% | 11/2021 | 12/2029 | 7,950 | 7,918 | 7,711 | 0.58% | |||
| DS Admiral Bidco, LLC | |||||||||||||
| Software | First lien (2)(15) | SOFR(Q) | 7.00% | 12.35% | 12/2022 | 03/2028 | 7,472 | 7,377 | 7,564 | 0.57% | |||
| PPV Intermediate Holdings, LLC | |||||||||||||
| Consumer Services | First lien (4)(15) | SOFR(Q) | 5.75% | 11.14% | 08/2022 | 08/2029 | 7,514 | 7,449 | 7,514 | 0.56% | |||
| Safety Borrower Holdings LLC | |||||||||||||
| Software | First lien (2)(15) | SOFR(M) | 5.25% | 10.87% | 09/2021 | 09/2027 | 6,904 | 6,881 | 6,904 | ||||
| First lien (3)(15)(18) - Drawn | P(Q) | 4.25% | 12.75% | 09/2021 | 09/2027 | 384 | 382 | 384 | |||||
| 7,263 | 7,288 | 0.55% | |||||||||||
| Transcendia Holdings, Inc. | |||||||||||||
| Packaging | Second lien (8)(15) | L(Q)(34) | 8.00% | 13.61% | 06/2017 | 05/2025 | 14,500 | 14,445 | 7,250 | 0.54% | |||
| Community Brands ParentCo, LLC | |||||||||||||
| Software | First lien (2)(15) | SOFR(M) | 5.50% | 10.96% | 02/2022 | 02/2028 | 7,091 | 7,037 | 6,899 | 0.52% | |||
| Sun Acquirer Corp. | |||||||||||||
| Consumer Services | First lien (2)(15) | SOFR(M) | 5.75% | 11.22% | 09/2021 | 09/2028 | 3,945 | 3,919 | 3,878 | ||||
| First lien (2)(15) | SOFR(M) | 5.75% | 11.22% | 09/2021 | 09/2028 | 2,788 | 2,757 | 2,740 | |||||
| First lien (3)(15)(18) - Drawn | SOFR(M) | 5.75% | 11.22% | 09/2021 | 09/2027 | 112 | 113 | 110 | |||||
| 6,789 | 6,728 | 0.51% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Houghton Mifflin Harcourt Company | |||||||||||||
| Education | First lien (8) | SOFR(M) | 5.25% | 10.71% | 10/2023 | 04/2029 | $6,822 | $6,430 | $6,704 | 0.50% | |||
| Greenway Health, LLC | |||||||||||||
| Healthcare | First lien (8) | SOFR(S) | 6.75% | 11.93% | 12/2023 | 04/2029 | 6,349 | 6,254 | 6,254 | 0.47% | |||
| Appriss Health Holdings, Inc. (22) | |||||||||||||
| Appriss Health, LLC | |||||||||||||
| Healthcare | First lien (8)(15) | SOFR(Q) | 6.75% | 12.32% | 05/2021 | 05/2027 | 6,188 | 6,150 | 6,188 | 0.46% | |||
| Pye-Barker Fire & Safety, LLC | |||||||||||||
| Business Services | First lien (2)(15) | SOFR(Q) | 5.50% | 11.00% | 11/2021 | 11/2027 | 5,109 | 5,071 | 5,109 | 0.38% | |||
| Healthspan Buyer, LLC | |||||||||||||
| Healthcare | First lien (8)(15) | SOFR(Q) | 5.75% | 11.10% | 10/2023 | 10/2030 | 5,120 | 5,070 | 5,069 | 0.38% | |||
| Cube Industrials Buyer, Inc. | |||||||||||||
| Business Products | First lien (3)(15) | SOFR(Q) | 6.00% | 11.40% | 10/2023 | 10/2030 | 4,483 | 4,450 | 4,450 | 0.33% | |||
| CommerceHub, Inc. | |||||||||||||
| Software | First lien (3)(15) | SOFR(Q) | 6.25% | 11.79% | 06/2023 | 12/2027 | 3,960 | 3,564 | 3,960 | 0.30% | |||
| Project Power Buyer, LLC | |||||||||||||
| Software | First lien (2)(15) | SOFR(Q) | 7.00% | 12.35% | 01/2023 | 05/2026 | 3,553 | 3,513 | 3,553 | 0.27% | |||
| Next Holdco, LLC | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(M) | 6.00% | 11.37% | 11/2023 | 11/2030 | 3,520 | 3,494 | 3,494 | 0.26% | |||
| DCA Investment Holding, LLC | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(Q) | 6.41% | 11.75% | 03/2021 | 04/2028 | 1,823 | 1,815 | 1,768 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.50% | 11.85% | 12/2022 | 04/2028 | 1,021 | 1,007 | 992 | |||||
| 2,822 | 2,760 | 0.21% | |||||||||||
| New Trojan Parent, Inc. | |||||||||||||
| Healthcare | Second lien (2)(15) | SOFR(M) | 7.25% | 12.72% | 01/2021 | 01/2029 | 26,762 | 26,663 | 1,421 | 0.11% | |||
| PPVA Fund, L.P. | |||||||||||||
| Business Services | Collateralized Financing (34)(35) | — | — | — | 11/2014 | — | — | — | — | —% | |||
| Total Funded Debt Investments - United States | $1,992,317 | $1,917,817 | 144.02% | ||||||||||
| Funded Debt Investments - United Kingdom | |||||||||||||
| Aston FinCo S.a r.l. / Aston US Finco, LLC** | |||||||||||||
| Software | Second lien (8)(15) | SOFR(M) | 8.25% | 13.72% | 10/2019 | 10/2027 | $34,459 | $34,301 | $34,458 | 2.59% | |||
| Integro Parent Inc.** | |||||||||||||
| Business Services | First lien (2)(15) | SOFR(Q)* | 12.25%/PIK | 17.60% | 10/2015 | 10/2024 | 4,086 | 4,085 | 4,086 | ||||
| First lien (3)(15) | SOFR(Q)* | 12.25%/PIK | 17.60% | 06/2018 | 10/2024 | 807 | 805 | 807 | |||||
| Second lien (3)(15) | SOFR(Q)* | 12.25%/PIK | 17.60% | 10/2015 | 10/2024 | 13,657 | 12,888 | 13,231 | |||||
| 17,778 | 18,124 | 1.36% | |||||||||||
| Total Funded Debt Investments - United Kingdom | $52,079 | $52,582 | 3.95% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Funded Debt Investments - Jersey | |||||||||||||
| Tennessee Bidco Limited ** | |||||||||||||
| Business Services | First lien (3)(15)(16) | SONIA(D)* | 5.00% +2.50% /PIK | 12.96% | 08/2021 | 08/2028 | £13,039 | $17,864 | $16,600 | ||||
| First lien (3)(15)(16) | SONIA(D)* | 5.00% +2.50% /PIK | 12.96% | 08/2021 | 08/2028 | £10,734 | 13,407 | 13,664 | |||||
| First lien (3)(15) | SOFR(S)* | 5.00% +2.50% /PIK | 13.03% | 08/2021 | 08/2028 | $10,312 | 10,200 | 10,312 | |||||
| First lien (3)(15) | SOFR(S)* | 5.00% +2.50% /PIK | 12.90% | 08/2021 | 08/2028 | $6,373 | 6,300 | 6,373 | |||||
| First lien (3)(15)(16) | EURIBOR(S)* | 5.00% +2.50% /PIK | 11.47% | 08/2021 | 08/2028 | €716 | 726 | 791 | |||||
| 48,497 | 47,740 | 3.58% | |||||||||||
| Total Funded Debt Investments - Jersey | $48,497 | $47,740 | 3.58% | ||||||||||
| Funded Debt Investments - Australia | |||||||||||||
| Atlas AU Bidco Pty Ltd** | |||||||||||||
| Business Services | First lien (2)(15) | SOFR(M) | 7.25% | 12.61% | 12/2022 | 12/2029 | $3,454 | $3,407 | $3,454 | ||||
| First lien (2) | SOFR(M) | 6.75% | 12.11% | 12/2023 | 12/2029 | 1,345 | 1,332 | 1,332 | |||||
| 4,739 | 4,786 | 0.36% | |||||||||||
| Total Funded Debt Investments - Australia | $4,739 | $4,786 | 0.36% | ||||||||||
| Total Funded Debt Investments | $2,097,632 | $2,022,925 | 151.91% | ||||||||||
| Equity - United States | |||||||||||||
| Dealer Tire Holdings, LLC | |||||||||||||
| Distribution & Logistics | Preferred shares (3)(15) | FIXED(S)* | 7.00%/PIK | 7.00% | 09/2021 | — | 56,271 | $70,383 | $74,768 | 5.61% | |||
| Symplr Software Intermediate Holdings, Inc. | |||||||||||||
| Healthcare | Preferred shares (4)(15) | SOFR(Q)* | 10.50%/PIK | 16.03% | 11/2018 | — | 7,500 | 13,999 | 13,807 | ||||
| Preferred shares (3)(15) | SOFR(Q)* | 10.50%/PIK | 16.03% | 11/2018 | — | 2,586 | 4,826 | 4,759 | |||||
| 18,825 | 18,566 | 1.39% | |||||||||||
| Knockout Intermediate Holdings I Inc. (32) | |||||||||||||
| Software | Preferred shares (3)(15) | FIXED(S)* | 11.75%/PIK | 11.75% | 06/2022 | — | 15,150 | 16,837 | 17,019 | 1.28% | |||
| ACI Parent Inc. (28) | |||||||||||||
| Healthcare | Preferred shares (3)(15) | FIXED(Q)* | 11.75%/PIK | 11.75% | 08/2021 | — | 12,500 | 16,414 | 15,040 | 1.13% | |||
| Project Essential Super Parent, Inc. | |||||||||||||
| Software | Preferred shares (3)(15) | SOFR(Q)* | 9.50%/PIK | 14.85% | 04/2021 | — | 10,000 | 13,754 | 12,382 | 0.93% | |||
| Diamond Parent Holdings Corp. (27) | |||||||||||||
| Diligent Preferred Issuer, Inc. | |||||||||||||
| Software | Preferred shares (3)(15) | FIXED(S)* | 10.50%/PIK | 10.50% | 04/2021 | — | 10,000 | 12,771 | 12,162 | 0.91% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OEC Holdco, LLC (21) | |||||||||||||
| Software | Preferred shares (12)(15) | FIXED(S)* | 11.00%/PIK | 11.00% | 12/2021 | — | 7,214 | $8,431 | $8,115 | 0.61% | |||
| HB Wealth Management, LLC | |||||||||||||
| Financial Services | Preferred shares (11)(15) | FIXED(Q)* | 4.00%/PIK | 4.00% | 09/2021 | — | 48,303 | 4,777 | 5,125 | 0.38% | |||
| FS WhiteWater Holdings, LLC (29) | |||||||||||||
| Consumer Services | Ordinary shares (5)(15) | — | — | — | 12/2021 | — | 50,000 | 5,000 | 4,454 | 0.33% | |||
| OA Topco, L.P. (31) | |||||||||||||
| Healthcare | Ordinary shares (3)(15) | — | — | — | 12/2021 | — | 2,000,000 | 2,000 | 3,343 | 0.25% | |||
| Appriss Health Holdings, Inc. (22) | |||||||||||||
| Appriss Health Intermediate Holdings, Inc. | |||||||||||||
| Healthcare | Preferred shares (3)(15) | FIXED(Q)* | 11.00%/PIK | 11.00% | 05/2021 | — | 2,333 | 2,992 | 2,863 | 0.21% | |||
| Pioneer Topco I, L.P. (30) | |||||||||||||
| Software | Ordinary shares (13)(15) | — | — | — | 11/2021 | — | 199,980 | 2,000 | 1,796 | 0.13% | |||
| GEDC Equity, LLC | |||||||||||||
| Healthcare | Ordinary shares (3)(15) | — | — | — | 06/2023 | — | 190,000 | 190 | 150 | 0.01% | |||
| Ancora Acquisition LLC | |||||||||||||
| Education | Preferred shares (9)(15) | SOFR(Q) | — | — | 08/2013 | — | 372 | 83 | — | —% | |||
| AAC Lender Holdings, LLC(26) | |||||||||||||
| Education | Ordinary shares (3)(15) | SOFR(Q) | — | — | 03/2021 | — | 758 | — | — | —% | |||
| Total Shares - United States | $174,457 | $175,783 | 13.17% | ||||||||||
| Equity - Hong Kong | |||||||||||||
| Bach Special Limited (Bach Preference Limited)** | |||||||||||||
| Education | Preferred shares (3)(15) | FIXED(Q)* | 12.25%/PIK | 12.25% | 09/2017 | — | 122,712 | $12,189 | $11,742 | 0.88% | |||
| Total Shares - Hong Kong | $12,189 | $11,742 | 0.88% | ||||||||||
| Total Shares | $186,646 | $187,525 | 14.05% | ||||||||||
| Total Funded Investments | $2,284,278 | $2,210,450 | 165.96% | ||||||||||
| Unfunded Debt Investments - United States | |||||||||||||
| Coupa Holdings, LLC | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 02/2023 | 08/2024 | $1,291 | $— | $13 | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 02/2023 | 02/2029 | 989 | (12) | — | |||||
| (12) | 13 | 0.00% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PetVet Care Centers, LLC | |||||||||||||
| Consumer Services | First lien (3)(18) - Undrawn | — | — | — | 10/2023 | 11/2025 | $3,708 | $— | $1 | ||||
| First lien (3)(18) - Undrawn | — | — | — | 10/2023 | 11/2029 | 3,708 | (37) | — | |||||
| (37) | 1 | 0.00% | |||||||||||
| AAC Lender Holdings, LLC (26) | |||||||||||||
| American Achievement Corporation (aka AAC Holding Corp.) | |||||||||||||
| Education | First lien (3)(15)(18) - Undrawn | — | — | — | 01/2021 | 09/2026 | 2,652 | — | — | —% | |||
| Safety Borrower Holdings LLC | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 09/2021 | 09/2027 | 128 | (1) | — | —% | |||
| Project Power Buyer, LLC | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 01/2023 | 05/2025 | 184 | (3) | — | —% | |||
| Appriss Health Holdings, Inc. (22) | |||||||||||||
| Appriss Health, LLC | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 05/2021 | 05/2027 | 417 | (4) | — | —% | |||
| PPV Intermediate Holdings, LLC | |||||||||||||
| Consumer Services | First lien (3)(15)(18) - Undrawn | — | — | — | 08/2022 | 08/2029 | 486 | (5) | — | —% | |||
| Coyote Buyer, LLC | |||||||||||||
| Specialty Chemicals & Materials | First lien (3)(18) - Undrawn | — | — | — | 03/2020 | 02/2025 | 1,013 | (5) | — | —% | |||
| Bullhorn, Inc. | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 09/2019 | 09/2026 | 852 | (6) | — | —% | |||
| Wealth Enhancement Group, LLC | |||||||||||||
| Financial Services | First lien (2)(15)(18) - Undrawn | — | — | — | 05/2022 | 05/2024 | 2,396 | — | — | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 08/2021 | 10/2027 | 2,040 | (6) | — | |||||
| (6) | — | —% | |||||||||||
| USRP Holdings, Inc. | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 07/2021 | 07/2027 | 893 | (9) | — | —% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Daxko Acquisition Corporation | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2021 | 04/2024 | $459 | $— | $— | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 10/2021 | 10/2027 | 920 | (9) | — | |||||
| (9) | — | —% | |||||||||||
| Kele Holdco, Inc. | |||||||||||||
| Distribution & Logistics | First lien (3)(15)(18) - Undrawn | — | — | — | 02/2020 | 02/2026 | 1,799 | (9) | — | —% | |||
| Xactly Corporation | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 07/2017 | 07/2025 | 992 | (10) | — | —% | |||
| AmeriVet Partners Management, Inc. | |||||||||||||
| Consumer Services | First lien (3)(15)(18) - Undrawn | — | — | — | 02/2022 | 02/2028 | 1,969 | (10) | — | —% | |||
| Associations, Inc. | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 07/2021 | 07/2027 | 2,291 | (11) | — | —% | |||
| Foreside Financial Group, LLC | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 05/2022 | 05/2024 | 4,557 | — | — | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 05/2022 | 09/2027 | 1,090 | (11) | — | |||||
| (11) | — | —% | |||||||||||
| Granicus, Inc. | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 01/2021 | 01/2027 | 1,834 | (14) | — | —% | |||
| Trinity Air Consultants Holdings Corporation | |||||||||||||
| Business Services | First lien (2)(15)(18) - Undrawn | — | — | — | 06/2021 | 06/2024 | 1,182 | — | — | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 06/2021 | 06/2027 | 1,501 | (15) | — | |||||
| (15) | — | —% | |||||||||||
| Pye-Barker Fire & Safety, LLC | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 11/2021 | 11/2026 | 1,161 | (16) | — | —% | |||
| Recorded Future, Inc. | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 08/2019 | 07/2025 | 2,981 | (20) | — | —% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| YLG Holdings, Inc. | |||||||||||||
| Business Services | First lien (5)(15)(18) - Undrawn | — | — | — | 10/2021 | 12/2024 | $785 | $— | $— | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 11/2019 | 10/2025 | 3,968 | (20) | — | |||||
| (20) | — | —% | |||||||||||
| Avalara, Inc. | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2022 | 10/2028 | 1,720 | (21) | — | —% | |||
| iCIMS, Inc. | |||||||||||||
| Software | First lien (8)(15)(18) - Undrawn | — | — | — | 08/2022 | 08/2024 | 6,293 | — | — | ||||
| First lien (2)(15)(18) - Undrawn | — | — | — | 09/2023 | 08/2024 | 976 | — | — | |||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 08/2022 | 08/2028 | 2,347 | (21) | — | |||||
| (21) | — | —% | |||||||||||
| Knockout Intermediate Holdings I Inc. (32) | |||||||||||||
| Kaseya Inc. | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 06/2022 | 06/2024 | 3,616 | — | — | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 06/2022 | 06/2029 | 2,888 | (22) | — | |||||
| (22) | — | —% | |||||||||||
| Oranje Holdco, Inc. | |||||||||||||
| Education | First lien (3)(15)(18) - Undrawn | — | — | — | 02/2023 | 02/2029 | 1,860 | (23) | — | —% | |||
| IG Investments Holdings, LLC | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 09/2021 | 09/2027 | 2,298 | (23) | — | —% | |||
| GS Acquisitionco, Inc. | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 08/2019 | 05/2026 | 3,730 | (23) | — | —% | |||
| Pioneer Topco I, L.P. (30) | |||||||||||||
| Pioneer Buyer I, LLC | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 11/2021 | 11/2027 | 2,446 | (24) | — | —% | |||
| Infogain Corporation | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 07/2021 | 07/2026 | 3,827 | (29) | — | —% | |||
| GC Waves Holdings, Inc. | |||||||||||||
| Financial Services | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2019 | 08/2028 | 3,951 | (30) | — | —% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OA Topco, L.P. (31) | |||||||||||||
| OA Buyer, Inc. | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 12/2021 | 12/2028 | $3,600 | $(36) | $— | —% | |||
| Paw Midco, Inc. | |||||||||||||
| AAH Topco, LLC | |||||||||||||
| Consumer Services | First lien (3)(15)(18) - Undrawn | — | — | — | 12/2021 | 12/2027 | 3,659 | (37) | — | —% | |||
| Next Holdco, LLC | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 11/2023 | 11/2025 | 903 | — | — | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 11/2023 | 11/2029 | 339 | (3) | (3) | |||||
| (3) | (3) | (0.00)% | |||||||||||
| Cube Industrials Buyer, Inc. | |||||||||||||
| Business Products | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2023 | 10/2029 | 517 | (4) | (4) | (0.00)% | |||
| MRI Software LLC | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 01/2020 | 02/2027 | 2,002 | (10) | (5) | (0.00)% | |||
| Calabrio, Inc. | |||||||||||||
| Software | First lien (3)(18) - Undrawn | — | — | — | 04/2021 | 04/2027 | 637 | (5) | (6) | (0.00)% | |||
| Brave Parent Holdings, Inc. | |||||||||||||
| Software | First lien (5)(15)(18) - Undrawn | — | — | — | 11/2023 | 05/2025 | 2,292 | — | — | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 11/2023 | 11/2030 | 1,146 | (6) | (6) | |||||
| (6) | (6) | (0.00)% | |||||||||||
| Deca Dental Holdings LLC | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 08/2021 | 08/2027 | 404 | (4) | (7) | (0.00)% | |||
| Sun Acquirer Corp. | |||||||||||||
| Consumer Services | First lien (3)(15)(18) - Undrawn | — | — | — | 09/2021 | 09/2027 | 447 | (6) | (8) | (0.00)% | |||
| CG Group Holdings, LLC | |||||||||||||
| Specialty Chemicals & Materials | First lien (3)(15)(18) - Undrawn | — | — | — | 07/2021 | 07/2026 | 226 | (3) | (10) | (0.00)% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ncontracts, LLC | |||||||||||||
| Software | First lien (3)(18) - Undrawn | — | — | — | 12/2023 | 12/2025 | $773 | $— | $— | ||||
| First lien (3)(18) - Undrawn | — | — | — | 12/2023 | 12/2029 | 773 | (10) | (10) | |||||
| (10) | (10) | (0.00)% | |||||||||||
| Healthspan Buyer, LLC | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2023 | 10/2030 | 1,229 | (12) | (12) | (0.00)% | |||
| KPSKY Acquisition Inc. | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 11/2023 | 11/2025 | 1,568 | — | (16) | (0.00)% | |||
| Specialtycare, Inc. | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 06/2021 | 06/2026 | 481 | (7) | (17) | (0.00)% | |||
| Groundworks, LLC | |||||||||||||
| Consumer Services | First lien (4)(15)(18) - Undrawn | — | — | — | 03/2023 | 09/2024 | 891 | — | (9) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 03/2023 | 03/2029 | 1,076 | (16) | (10) | |||||
| (16) | (19) | (0.00)% | |||||||||||
| FS WhiteWater Holdings, LLC (29) | |||||||||||||
| FS WhiteWater Borrower, LLC | |||||||||||||
| Consumer Services | First lien (3)(15)(18) - Undrawn | — | — | — | 07/2022 | 07/2024 | 1,229 | — | (10) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 12/2021 | 12/2027 | 1,085 | (11) | (17) | |||||
| (11) | (27) | (0.00)% | |||||||||||
| IMO Investor Holdings, Inc. | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 05/2022 | 05/2028 | 1,487 | (15) | (12) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 05/2022 | 05/2024 | 1,951 | — | (16) | |||||
| (15) | (28) | (0.00)% | |||||||||||
| Diamond Parent Holdings Corp. (27) | |||||||||||||
| Diligent Corporation | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 03/2021 | 08/2025 | 1,667 | (8) | (33) | (0.00)% | |||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Community Brands ParentCo, LLC | |||||||||||||
| Software | First lien (3)(15)(18) - Undrawn | — | — | — | 02/2022 | 02/2028 | $425 | $(4) | $(11) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 02/2022 | 02/2024 | 849 | — | (23) | |||||
| (4) | (34) | (0.00)% | |||||||||||
| Power Grid Holdings, Inc. | |||||||||||||
| Business Products | First lien (3)(15)(18) - Undrawn | — | — | — | 11/2023 | 12/2030 | 4,075 | (41) | (41) | (0.00)% | |||
| DOCS, MSO, LLC | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 06/2022 | 06/2028 | 2,405 | — | (43) | (0.00)% | |||
| TigerConnect, Inc. | |||||||||||||
| Healthcare | First lien (2)(15)(18) - Undrawn | — | — | — | 02/2022 | 02/2024 | 885 | — | (8) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 02/2022 | 02/2028 | 4,267 | (43) | (36) | |||||
| (43) | (44) | (0.00)% | |||||||||||
| Fortis Solutions Group, LLC | |||||||||||||
| Packaging | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2021 | 10/2027 | 2,718 | (27) | (17) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 06/2022 | 06/2024 | 4,435 | — | (28) | |||||
| (27) | (45) | (0.00)% | |||||||||||
| Notorious Topco, LLC | |||||||||||||
| Consumer Products | First lien (3)(15)(18) - Undrawn | — | — | — | 11/2021 | 05/2027 | 822 | (6) | (61) | (0.00)% | |||
| ACI Parent Inc. (28) | |||||||||||||
| ACI Group Holdings, Inc. | |||||||||||||
| Healthcare | First lien (3)(15)(18) - Undrawn | — | — | — | 08/2021 | 08/2027 | 2,001 | (20) | (48) | ||||
| First lien (3)(15)(18) - Undrawn | — | — | — | 08/2021 | 08/2024 | 2,909 | — | (70) | |||||
| (20) | (118) | (0.01)% | |||||||||||
| Total Unfunded Debt Investments - United States | $(783) | $(583) | (0.01)% | ||||||||||
| Unfunded Debt Investments - Australia | |||||||||||||
| Atlas AU Bidco Pty Ltd** | |||||||||||||
| Business Services | First lien (3)(15)(18) - Undrawn | — | — | — | 12/2022 | 12/2028 | $320 | $(5) | $— | —% | |||
| Total Unfunded Debt Investments - Australia | $(5) | $— | —% | ||||||||||
| Total Unfunded Debt Investments | $(788) | $(583) | (0.01)% | ||||||||||
| Total Non-Controlled/Non-Affiliated Investments | $2,283,490 | $2,209,867 | 165.95% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Controlled/Affiliated Investments (36) | |||||||||||||
| Funded Debt Investments - United States | |||||||||||||
| TVG-Edmentum Holdings, LLC (23) | |||||||||||||
| Edmentum Ultimate Holdings, LLC | |||||||||||||
| Education | Subordinated (3)(15) | SOFR(Q)* | 7.50% + 4.50%/PIK | 17.50% | 12/2020 | 01/2027 | $18,635 | $18,544 | $18,635 | 1.40% | |||
| Eagle Infrastructure Super HoldCo, LLC (33) | |||||||||||||
| Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.) | |||||||||||||
| Business Services | First lien (2)(15) | SOFR(Q) | 7.50% | 13.00% | 03/2023 | 04/2028 | 10,676 | 10,676 | 10,676 | ||||
| First lien (3)(15) | SOFR(Q) | 7.50% | 13.00% | 03/2023 | 04/2028 | 342 | 342 | 342 | |||||
| 11,018 | 11,018 | 0.83% | |||||||||||
| Permian Holdco 3, Inc. | |||||||||||||
| Permian Trust | |||||||||||||
| Energy | First lien (10)(15) | FIXED(Q)(34)* | 10.00%/PIK | 10.00% | 03/2021 | — | 247 | — | — | ||||
| First lien (3)(15) | SOFR(Q)(34)* | 10.00%/PIK | 11.00% | 07/2020 | — | 3,409 | — | — | |||||
| — | — | —% | |||||||||||
| Total Funded Debt Investments - United States | $29,562 | $29,653 | 2.23% | ||||||||||
| Equity - United States | |||||||||||||
| TVG-Edmentum Holdings, LLC (23) | |||||||||||||
| Education | Ordinary shares (3)(15) | FIXED(Q)* | 12.00%/PIK | 12.00% | 12/2020 | — | 48,899 | $61,449 | $95,151 | 7.14% | |||
| Eagle Infrastructure Super HoldCo, LLC | |||||||||||||
| Business Services | Ordinary shares (3)(15) | — | — | — | 03/2023 | — | 72,536 | 4,102 | 6,855 | 0.51% | |||
| Sierra Hamilton Holdings Corporation | |||||||||||||
| Energy | Ordinary shares (2)(15) | — | — | — | 07/2017 | — | 25,000,000 | 11,500 | 1,799 | ||||
| Ordinary shares (3)(15) | — | — | — | 07/2017 | — | 2,786,000 | 1,282 | 201 | |||||
| 12,782 | 2,000 | 0.15% | |||||||||||
| Total Shares - United States | $78,333 | $104,006 | 7.80% | ||||||||||
| Total Non-Controlled/Affiliated Investments | $107,895 | $133,659 | 10.03% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Controlled Investments (37) | |||||||||||||
| Funded Debt Investments - United States | |||||||||||||
| New Benevis Topco, LLC (25) | |||||||||||||
| New Benevis Holdco, Inc. | |||||||||||||
| Healthcare | First lien (2)(15) | SOFR(Q)* | 9.50%/PIK | 14.96% | 10/2020 | 04/2026 | $41,731 | $41731 | $41,731 | ||||
| First lien (3)(15) | SOFR(Q)* | 9.50%/PIK | 14.96% | 10/2020 | 04/2026 | 19,798 | 19,798 | 19,798 | |||||
| First lien (8)(15) | SOFR(Q)* | 9.50%/PIK | 14.96% | 10/2020 | 04/2026 | 10,239 | 10,239 | 10,239 | |||||
| Subordinated (3)(15) | FIXED(M)* | 12.00%/PIK | 12.00% | 10/2020 | 10/2026 | 21,092 | 19,801 | 16,874 | |||||
| 91,569 | 88,642 | 6.66% | |||||||||||
| New Permian Holdco, Inc. | |||||||||||||
| New Permian Holdco, L.L.C. | |||||||||||||
| Energy | First lien (3)(15) | SOFR(Q) | 9.00% | 14.61% | 10/2020 | 12/2024 | 23,336 | 23,336 | 23,335 | ||||
| First lien (3)(15)(18) - Drawn | SOFR(Q) | 6.00% | 11.61% | 10/2020 | 12/2024 | 13,835 | 13,835 | 13,835 | |||||
| 37,171 | 37,170 | 2.79% | |||||||||||
| UniTek Global Services, Inc. | |||||||||||||
| Business Services | Second lien (3)(15) | FIXED(Q)* | 15.00%/PIK | 15.00% | 12/2020 | 02/2025 | 13,438 | 13,438 | 12,893 | ||||
| Second lien (3)(15) | FIXED(Q)* | 15.00%/PIK | 15.00% | 07/2022 | 02/2025 | 5,957 | 5,957 | 5,713 | |||||
| 19,395 | 18,606 | 1.40% | |||||||||||
| NHME Holdings Corp. (24) | |||||||||||||
| National HME, Inc. | |||||||||||||
| Healthcare | Second lien (3)(15) | SOFR(Q)(34)* | 5.00%/PIK | 10.66% | 11/2018 | 11/2025 | 8,281 | 7,872 | 3,000 | 0.23% | |||
| Total Funded Debt Investments - United States | $156,007 | $147,418 | 11.08% | ||||||||||
| Equity - United States | |||||||||||||
| NMFC Senior Loan Program III LLC** | |||||||||||||
| Investment Fund | Membership interest (3)(15) | — | — | — | 05/2018 | — | — | $140,000 | $140,000 | 10.51% | |||
| NMFC Senior Loan Program IV LLC** | |||||||||||||
| Investment Fund | Membership interest (3)(15) | — | — | — | 05/2021 | — | — | 112,400 | 112,400 | 8.44% | |||
| NM NL Holdings, L.P.** | |||||||||||||
| Net Lease | Membership interest (7)(15) | — | — | — | 06/2018 | — | — | 76,371 | 96,071 | 7.21% | |||
| New Benevis Topco, LLC (25) | |||||||||||||
| Healthcare | Ordinary shares (2)(15) | — | — | — | 10/2020 | — | 325,516 | 27,154 | 31,838 | ||||
| Ordinary shares (8)(15) | — | — | — | 10/2020 | — | 79,867 | 6,662 | 7,812 | |||||
| Ordinary shares (3)(15) | — | — | — | 10/2020 | — | 72,681 | 6,108 | 7,109 | |||||
| 39,924 | 46,759 | 3.51% | |||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UniTek Global Services, Inc. | |||||||||||||
| Business Services | Preferred shares (3)(15) | FIXED(Q)* | 20.00%/PIK | 20.00% | 08/2018 | — | 18,760,261 | $18,760 | $16,348 | ||||
| Preferred shares (3)(15) | FIXED(Q)* | 20.00%/PIK | 20.00% | 08/2019 | — | 11,150,103 | 11,150 | 10,119 | |||||
| Preferred shares (3)(15)(34) | FIXED(Q)(34)* | 19.00%/PIK | 19.00% | 06/2017 | — | 19,795,435 | 19,795 | 4,210 | |||||
| Preferred shares (2)(15)(34) | FIXED(Q)(34)* | 13.50%/PIK | 13.50% | 01/2015 | — | 29,326,545 | 26,946 | — | |||||
| Preferred shares (3)(15)(34) | FIXED(Q)(34)* | 13.50%/PIK | 13.50% | 01/2015 | — | 8,104,462 | 7,447 | — | |||||
| Ordinary shares (2)(15) | — | — | — | 01/2015 | — | 2,096,477 | 1,925 | — | |||||
| Ordinary shares (3)(15) | — | — | — | 01/2015 | — | 1,993,749 | 532 | — | |||||
| 86,555 | 30,677 | 2.30% | |||||||||||
| New Permian Holdco, Inc. | |||||||||||||
| Energy | Ordinary shares (3)(15) | — | — | — | 10/2020 | — | 100 | 11,155 | 26,000 | 1.95% | |||
| NM CLFX LP | |||||||||||||
| Net Lease | Membership interest (7)(15) | — | — | — | 10/2017 | — | — | 12,278 | 11,731 | 0.88% | |||
| NM YI, LLC | |||||||||||||
| Net Lease | Membership interest (7)(15) | — | — | — | 09/2019 | — | — | 6,272 | 9,550 | 0.72% | |||
| QID TRH Holdings LLC (20) | |||||||||||||
| Haven Midstream Holdings LLC(20) | |||||||||||||
| Specialty Chemicals & Materials | Ordinary shares (14)(15) | — | — | — | 10/2021 | — | 80 | — | 3,323 | ||||
| Profit Interest (6)(15) | — | — | — | 10/2021 | — | 5 | — | 96 | |||||
| — | 3,419 | 0.26% | |||||||||||
| NM GP Holdco, LLC** | |||||||||||||
| Net Lease | Membership interest (7)(15) | — | — | — | 06/2018 | — | — | 861 | 1,048 | 0.08% | |||
| NHME Holdings Corp.(24) | |||||||||||||
| Healthcare | Ordinary shares (3)(15) | — | — | — | 11/2018 | — | 640,000 | 4,000 | — | —% | |||
| Total Shares - United States | $489,816 | $477,655 | 35.86% | ||||||||||
| Equity - Canada | |||||||||||||
| NM APP Canada Corp.** | |||||||||||||
| Net Lease | Membership interest (7)(15) | — | — | — | 09/2016 | — | — | $— | $7 | —% | |||
| Total Shares - Canada | $— | $7 | —% | ||||||||||
| Total Shares | $489,816 | $477,662 | 35.86% | ||||||||||
| Warrants - United States | |||||||||||||
| UniTek Global Services, Inc. | |||||||||||||
| Business Services | Warrants (3)(15) | — | — | — | 12/2020 | 02/2025 | 13,339 | $— | $42,716 | 3.21% | |||
| NHME Holdings Corp. (24) | |||||||||||||
| Healthcare | Warrants (3)(15) | — | — | — | 11/2018 | — | 160,000 | 1,000 | — | —% | |||
| Total Warrants - United States | $1,000 | $42,716 | 3.21% | ||||||||||
| Total Funded Investments | $646,823 | $667,796 | 50.15% | ||||||||||
| Portfolio Company, Location and Industry(1) · Type ofInvestment · Reference · Spread · Total Coupon (19) · Acquisition Date · Maturity/ExpirationDate · PrincipalAmount,Par Valueor Shares (17) · Cost · Fair Value · Percent ofNetAssets | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unfunded Debt Investments - United States | |||||||||||||
| New Permian Holdco, Inc. | |||||||||||||
| New Permian Holdco, L.L.C. | |||||||||||||
| Energy | First lien (3)(15)(18) - Undrawn | — | — | — | 10/2020 | 12/2024 | $8,060 | $— | $— | —% | |||
| Haven Midstream Holdings LLC (20) | |||||||||||||
| Haven Midstream LLC | |||||||||||||
| Specialty Chemicals & Materials | First lien (3)(15)(18) - Undrawn | — | — | — | 12/2021 | 10/2026 | 8,000 | — | — | —% | |||
| Total Unfunded Debt Investments - United States | $— | $— | —% | ||||||||||
| Total Controlled Investments | $646,823 | $667,796 | 50.15% | ||||||||||
| Total Investments | $3,038,208 | $3,011,322 | 226.13% | ||||||||||
(1)New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.
(2)Investment is pledged as collateral for the Holdings Credit Facility, a revolving credit facility among the Company, as the Collateral Manager, New Mountain Finance Holdings, L.L.C. ("NMF Holdings") as the Borrower, Wells Fargo Securities, LLC, as the Administrative Agent and Wells Fargo Bank, National Association, as the Lender and Collateral Custodian. See Note 7. Borrowings, for details.
(3)Investment is pledged as collateral for the NMFC Credit Facility, a revolving credit facility among the Company as the Borrower and Goldman Sachs Bank USA as the Administrative Agent and the Collateral Agent and Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., Stifel Bank & Trust and MUFG Union Bank, N.A. as Lenders. See Note 7. Borrowings, for details.
(4)Investment is held by New Mountain Finance SBIC, L.P.
(5)Investment is held by New Mountain Finance SBIC II, L.P.
(6)Investment is held by NMF QID NGL Holdings, Inc.
(7)Investment is held by New Mountain Net Lease Corporation.
(8)Investment is pledged as collateral for the DB Credit Facility, a revolving credit facility among New Mountain Finance DB, L.L.C. as the Borrower and Deutsche Bank AG, New York Branch as the Facility Agent. See Note 7. Borrowings, for details.
(9)Investment is held by NMF Ancora Holdings, Inc.
(10)Investment is held by NMF Permian Holdings, LLC.
(11)Investment is held by NMF HB, Inc.
(12)Investment is held by NMF OEC, Inc.
(13)Investment is held by NMF Pioneer, Inc.
(14)Investment is held by NMF TRM, LLC.
(15)The fair value of the Company's investment is determined using unobservable inputs that are significant to the overall fair value measurement. See Note 4. Fair Value, for details.
(16)Investment is denominated in foreign currency and is translated into U.S. dollars as of the valuation date. As of December 31, 2023, the par value U.S. dollar equivalent of the first lien term loan, and drawn first lien term loan is $16,600 and $14,457, respectively. See Note 2. Summary of Significant Accounting Policies, for details.
(17)Par amount is denominated in United States Dollar unless otherwise noted, which may include British Pound ("£") and/or Euro ("€").
(18)Par value amounts represent the drawn or undrawn (as indicated in type of investment) portion of revolving credit facilities or delayed draws. Cost amounts represent the cash received at settlement date net of the impact of paydowns and cash paid for drawn revolvers or delayed draws.
(19)Total Coupon is payable in cash unless otherwise indicated. A majority of the variable rate debt investments bear interest and dividends at a rate that may be determined by reference to the London Interbank Offered Rate (L), the Prime Rate (P), the Sterling Overnight Interbank Average Rate (SONIA), Secured Overnight Financing Rate (SOFR) and Euro Interbank Offered Rate (EURIBOR) and which resets daily (D), weekly (W), monthly (M), quarterly (Q), semi-annually (S) or annually (A). For each investment the current coupon rate provided reflects the rate in effect as of December 31, 2023.
(20)The Company holds investments in multiple entities of Haven Midstream Holdings LLC. The Company holds 4.6% of the Class B profits interest in QID NGL, LLC (which at closing represented 97.0% of the ownership in the class B units in QID TRH Holdings, LLC), class A common units of Haven Midstream Holdings LLC, and holds a first lien revolver in Haven Midstream LLC.
(21)The Company holds preferred equity in OEC Holdco, LLC, andtwo second lien term loans in OEConnection LLC, a wholly-owned subsidiary of OEC Holdco, LLC. The preferred equity is entitled to receive preferential dividends of 11.0% per annum.
(22)The Company holds investments intwo wholly-owned subsidiaries of Appriss Health Holdings, Inc. The company holds a first lien term loan and a first lien revolver in Appriss Health, LLC, and preferred equity in Appriss Health Intermediate Holdings, Inc. The preferred equity is entitled to receive preferential dividends at a rate of 11.0% per annum.
(23)The Company holds ordinary shares in TVG-Edmentum Holdings, LLC, and subordinated notes in Edmentum Ultimate Holdings, LLC, a wholly-owned subsidiary of TVG-Edmentum Holdings, LLC. The ordinary shares are entitled to receive cumulative preferential dividends at a rate of 12.0% per annum.
(24)The Company holds ordinary shares and warrants in NHME Holdings Corp., as well as a second lien Tranche A Term Loan in National HME, Inc., a wholly-owned subsidiary of NHME Holdings Corp. The second lien Tranche A Term Loan is entitled to receive 20% of the interest earned on the first lien Tranche A Term Loan, which accrues interest at a rate of SOFR +5.00%, and 20% of the interest earned on the first lien Tranche B Term Loan, which accrues interest at a rate of SOFR +6.00%.
(25)The Company holds ordinary shares in New Benevis Topco, LLC, and holds first lien last out term loans and subordinated notes in New Benevis Holdco Inc., a wholly-owned subsidiary of New Benevis Topco, LLC.
(26)The Company holds ordinary shares in AAC Lender Holdings, LLC and two first lien term loans, a first lien revolver and subordinated notes in American Achievement Corporation, a partially-owned subsidiary of AAC Lender Holdings, LLC.
(27)The Company holds investments intwo wholly-owned subsidiary of Diamond Parent Holdings Corp. The Company holds three first lien term loans and a first lien revolver in Diligent Corporation and preferred equity in Diligent Preferred Issuer Inc. The preferred equity in Diligent Preferred Issuer Inc. is entitled to receive cumulative preferential dividends at a rate 10.5% per annum.
(28)The Company holds investments in ACI Parent Inc. and a wholly-owned subsidiary of ACI Parent Inc. The Company holds a first lien term loan, two first lien delayed draws and a first lien revolver in ACI Group Holdings, Inc. and preferred equity in ACI Parent Inc. The preferred equity in ACI Parent Inc. is entitled to receive cumulative preferential dividends at a rate of 11.75% per annum.
(29)The Company holds ordinary shares in FS WhiteWater Holdings, LLC, and a first lien term loan, a first lien revolver, andthree first lien delayed draws in FS WhiteWater Borrower, LLC, a partially-owned subsidiary of FS WhiteWater Holdings, LLC.
(30)The Company holds ordinary shares in Pioneer Topco I, L.P., andtwo first lien term loans and a first lien revolver in Pioneer Buyer I, LLC, a wholly-owned subsidiary of Pioneer Topco I, L.P.
(31)The Company holds ordinary shares in OA Topco, L.P., andtwo first lien term loans and a first lien revolver in OA Buyer, Inc., a wholly-owned subsidiary of OA Topco, L.P.
(32)The Company holds preferred equity in Knockout Intermediate Holdings I Inc. and a first lien term loan, a first lien revolver and a first lien delayed draw in Kaseya, Inc., a wholly-owned subsidiary of Knockout Intermediate Holdings I Inc. The preferred equity is entitled to received cumulative preferential dividends at a rate of 11.75% per annum.
(33)The Company holds ordinary shares in Eagle Infrastructure Super HoldCo, LLC and a first lien term loan in Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.), a wholly-owned subsidiary of Eagle Infrastructure Super Holdco, LLC.
(34)Investment is on non-accrual status. See Note 3. Investments, for details.
(35)The Company holdsone security purchased under a collateralized agreement to resell on its Consolidated Statement of Assets and Liabilities with a cost basis of $30,000 and a fair value of $16,500 as of December 31, 2023. See Note 2. Summary of Significant Accounting Policies, for details.
(36)Denotes investments in which the Company is an “Affiliated Person”, as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), due to owning or holding the power to vote 5.0% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of December 31, 2023 and December 31, 2022 along with transactions during the year ended December 31, 2023 in which the issuer was a non-controlled/affiliated investment is as follows:
| Portfolio Company | Fair Value at December 31, 2022 | GrossAdditions(A) | GrossRedemptions(B) | Net Change In Unrealized Appreciation (Depreciation) | Fair Value at December 31, 2023 | Net RealizedGains(Losses) | InterestIncome | DividendIncome | OtherIncome |
|---|---|---|---|---|---|---|---|---|---|
| Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.) / Eagle Infrastructure Super HoldCo, LLC | $— | $15,581 | $(459) | $2,751 | $17,873 | $— | $1,084 | $— | $— |
| Sierra Hamilton Holdings Corporation | 4,000 | 2 | (7) | (1,995) | 2,000 | — | 2 | — | 1 |
| TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC | 126,787 | 6,807 | — | (19,808) | 113,786 | — | 3,048 | 4,625 | 250 |
| Total Non-Controlled/Affiliated Investments | $130,787 | $22,390 | $(466) | $(19,052) | $133,659 | $— | $4,134 | $4,625 | $251 |
(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, payment-in-kind (“PIK”) interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.
(B)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.
(37)Denotes investments in which the Company is in “Control”, as defined in the 1940 Act, due to owning or holding the power to vote more than 25.0% of the outstanding voting securities of the investment. Fair value as of December 31, 2023 and December 31, 2022 along with transactions during the year ended December 31, 2023 in which the issuer was a controlled investment, is as follows:
| Portfolio Company | Fair Value at December 31, 2022 | GrossAdditions(A) | GrossRedemptions(B) | Net Change InUnrealizedAppreciation(Depreciation) | Fair Value at December 31, 2023 | Net Realized Gains (Losses) | InterestIncome | DividendIncome | OtherIncome |
|---|---|---|---|---|---|---|---|---|---|
| Haven Midstream LLC / Haven Midstream Holdings LLC / QID TRH Holdings LLC | $35,788 | $— | $— | $(32,369) | $3,419 | $33,815 | $— | $— | $2,041 |
| National HME, Inc./NHME Holdings Corp. | 5,381 | — | (17,404) | 15,023 | 3,000 | (17,404) | — | — | — |
| New Benevis Topco, LLC / New Benevis Holdco, Inc. | 114,146 | 26,153 | — | (4,898) | 135,401 | — | 11,632 | — | 1,500 |
| New Permian Holdco, Inc. / New Permian Holdco, L.L.C. | 57,564 | 5,606 | — | — | 63,170 | — | 5,197 | — | 506 |
| NM APP CANADA CORP | — | — | — | 7 | 7 | — | — | — | — |
| NM CLFX LP | 16,172 | — | (259) | (4,182) | 11,731 | — | — | 1,252 | — |
| NM NL Holdings, L.P. | 94,305 | — | — | 1,766 | 96,071 | — | — | 8,191 | — |
| NM GP Holdco, LLC | 1,028 | — | — | 20 | 1,048 | — | — | 88 | — |
| NM YI LLC | 9,481 | — | — | 69 | 9,550 | — | — | 853 | — |
| NMFC Senior Loan Program III LLC | 140,000 | — | — | — | 140,000 | — | — | 20,038 | — |
| NMFC Senior Loan Program IV LLC | 112,400 | — | — | — | 112,400 | — | — | 15,483 | — |
| UniTek Global Services, Inc. | 103,770 | 8,699 | (26,446) | 5,976 | 91,999 | 2 | 4,000 | 5,303 | 1,268 |
| Total Controlled Investments | $690,035 | $40,458 | $(44,109) | $(18,588) | $667,796 | $16,413 | $20,829 | $51,208 | $5,315 |
(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.
(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.
*All or a portion of interest contains PIK interest.
**Indicates assets that the Company deems to be “non-qualifying assets” under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70.0% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. As of December 31, 2023,14.8% of the Company’s total assets are represented by investments at fair value that are considered non-qualifying assets.
| December 31, 2023 | |
|---|---|
| Investment Type | Percent of Total Investments at Fair Value |
| First lien | 55.92% |
| Second lien | 14.10% |
| Subordinated | 3.02% |
| Equity and other | 26.96% |
| Total investments | 100.00% |
| December 31, 2023 | |
|---|---|
| Industry Type | Percent of TotalInvestments at Fair Value |
| Software | 26.89% |
| Business Services | 17.93% |
| Healthcare | 15.87% |
| Investment Funds (includes investments in joint ventures) | 8.38% |
| Education | 7.03% |
| Consumer Services | 6.39% |
| Net Lease | 3.93% |
| Distribution & Logistics | 3.68% |
| Financial Services | 3.49% |
| Energy | 2.16% |
| Packaging | 1.20% |
| Specialty Chemicals & Materials | 0.94% |
| Business Products | 0.75% |
| Food & Beverage | 0.73% |
| Consumer Products | 0.63% |
| Total investments | 100.00% |
| December 31, 2023 | |
|---|---|
| Interest Rate Type | Percent of TotalInvestments at Fair Value |
| Floating rates | 88.76% |
| Fixed rates | 11.24% |
| Total investments | 100.00% |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.