MSC INCOME FUND INC
For the period ended Sep 30, 2024. Filed Nov 14, 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 Nov 14, 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—December 31, 2023
Consolidated Schedule of Investments
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Control Investments (5) | |||||||||||||||
| Copper Trail Fund Investments | (12) (13) | Investment Partnership | |||||||||||||
| LP Interests (CTMH, LP) | (8) (24) | 7/17/2017 | 38.8% | $693 | $568 | ||||||||||
| GRT Rubber Technologies LLC | Manufacturer of Engineered Rubber Products | ||||||||||||||
| Secured Debt | 12/21/2018 | 11.48% | SF+ | 6.00% | 10/29/2026 | 1,182 | 1,173 | 1,182 | |||||||
| Secured Debt | 12/19/2014 | 13.48% | SF+ | 8.00% | 10/29/2026 | 19,944 | 19,803 | 19,944 | |||||||
| Member Units | 12/19/2014 | 2,896 | 6,435 | 21,890 | |||||||||||
| 27,411 | 43,016 | ||||||||||||||
| Harris Preston Fund Investments | (12) (13) | Investment Partnership | |||||||||||||
| LP Interests (2717 MH, L.P.) | (8) (24) | 10/1/2017 | 49.3% | 3,345 | 6,050 | ||||||||||
| Volusion, LLC | Provider of Online Software-as-a-Service eCommerce Solutions | ||||||||||||||
| Secured Debt | 3/31/2023 | 10.00% | 3/31/2025 | 900 | 900 | 900 | |||||||||
| Preferred Member Units | 3/31/2023 | 2,184,683 | 3,706 | 3,110 | |||||||||||
| Preferred Member Units | 3/31/2023 | 61,077 | — | — | |||||||||||
| Preferred Member Units | 1/26/2015 | 2,090,001 | 6,000 | — | |||||||||||
| Common Stock | 3/31/2023 | 772,620 | 1,104 | — | |||||||||||
| 11,710 | 4,010 | ||||||||||||||
| Subtotal Control Investments (8.6% of net assets at fair value) | $43,159 | $53,644 | |||||||||||||
| Affiliate Investments (6) | |||||||||||||||
| Analytical Systems Keco Holdings, LLC | Manufacturer of Liquid and Gas Analyzers | ||||||||||||||
| Secured Debt | (9) | 8/16/2019 | 15.38% | SF+ | 10.00% | 8/16/2024 | $55 | $54 | $54 | ||||||
| Secured Debt | (9) | 8/16/2019 | 15.38% | SF+ | 10.00% | 8/16/2024 | 1,031 | 1,020 | 1,020 | ||||||
| Preferred Member Units | 5/20/2021 | 607 | 607 | 1,210 | |||||||||||
| Preferred Member Units | 8/16/2019 | 800 | 14.13% | 800 | — | ||||||||||
| Warrants | (27) | 8/16/2019 | 105 | 8/16/2029 | 79 | — | |||||||||
| 2,560 | 2,284 | ||||||||||||||
| Barfly Ventures, LLC | (10) | Casual Restaurant Group | |||||||||||||
| Member Units | 10/26/2020 | 12 | 528 | 1,380 | |||||||||||
| Batjer TopCo, LLC | HVAC Mechanical Contractor | ||||||||||||||
| Secured Debt | (37) | 3/7/2022 | 3/7/2027 | — | (1) | — | |||||||||
| Secured Debt | 3/7/2022 | 10.00% | 3/7/2027 | 30 | 30 | 30 | |||||||||
| Secured Debt | 3/7/2022 | 10.00% | 3/7/2027 | 1,175 | 1,160 | 1,175 | |||||||||
| Preferred Stock | (8) | 3/7/2022 | 453 | 455 | 680 | ||||||||||
| 1,644 | 1,885 | ||||||||||||||
| Brewer Crane Holdings, LLC | Provider of Crane Rental and Operating Services | ||||||||||||||
| Secured Debt | (9) | 1/9/2018 | 15.46% | L+ | 10.00% | 1/9/2025 | 1,375 | 1,375 | 1,374 | ||||||
| Preferred Member Units | (8) | 1/9/2018 | 737 | 1,070 | 1,400 | ||||||||||
| 2,445 | 2,774 | ||||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Centre Technologies Holdings, LLC · Provider of IT Hardware Services and Software Solutions | ||||||||||||||
| Secured Debt | (9) (37) | 1/4/2019 | SF+ | 9.00% | 1/4/2026 | — | — | — | ||||||
| Secured Debt | (9) | 1/4/2019 | 14.48% | SF+ | 9.00% | 1/4/2026 | 4,394 | 4,364 | 4,394 | |||||
| Preferred Member Units | 1/4/2019 | 3,327 | 1,531 | 2,760 | ||||||||||
| 5,895 | 7,154 | |||||||||||||
| Chamberlin Holding LLC | Roofing and Waterproofing Specialty Contractor | |||||||||||||
| Secured Debt | (9) (37) | 2/26/2018 | SF+ | 6.00% | 2/26/2026 | — | (49) | — | ||||||
| Secured Debt | (9) | 2/26/2018 | 13.49% | SF+ | 8.00% | 2/26/2026 | 3,905 | 3,903 | 3,905 | |||||
| Member Units | (8) | 2/26/2018 | 1,087 | 2,860 | 7,330 | |||||||||
| Member Units | (8) (23) | 11/2/2018 | 261,786 | 443 | 715 | |||||||||
| 7,157 | 11,950 | |||||||||||||
| Charps, LLC | Pipeline Maintenance and Construction | |||||||||||||
| Preferred Member Units | (8) | 2/3/2017 | 457 | 491 | 3,920 | |||||||||
| Clad-Rex Steel, LLC | Specialty Manufacturer of Vinyl-Clad Metal | |||||||||||||
| Secured Debt | 12/20/2016 | 11.50% | 1/15/2024 | 2,140 | 2,140 | 2,103 | ||||||||
| Secured Debt | 12/20/2016 | 10.00% | 12/20/2036 | 253 | 251 | 251 | ||||||||
| Member Units | (8) | 12/20/2016 | 179 | 1,820 | 1,300 | |||||||||
| Member Units | (23) | 12/20/2016 | 200 | 127 | 282 | |||||||||
| 4,338 | 3,936 | |||||||||||||
| Cody Pools, Inc. | Designer of Residential and Commercial Pools | |||||||||||||
| Secured Debt | (37) | 3/6/2020 | 12/17/2026 | — | (2) | — | ||||||||
| Secured Debt | 3/6/2020 | 12.50% | 12/17/2026 | 7,111 | 7,089 | 7,111 | ||||||||
| Preferred Member Units | (8) (23) | 3/6/2020 | 147 | 2,079 | 18,120 | |||||||||
| 9,166 | 25,231 | |||||||||||||
| Colonial Electric Company LLC | Provider of Electrical Contracting Services | |||||||||||||
| Secured Debt | (37) | 3/31/2021 | 3/31/2026 | — | — | — | ||||||||
| Secured Debt | 3/31/2021 | 12.00% | 3/31/2026 | 5,513 | 5,448 | 5,407 | ||||||||
| Preferred Member Units | 6/27/2023 | 240 | 240 | 600 | ||||||||||
| Preferred Member Units | 3/31/2021 | 4,320 | 1,920 | 1,920 | ||||||||||
| 7,608 | 7,927 | |||||||||||||
| Compass Systems & Sales, LLC | Designer of End-to-End Material Handling Solutions | |||||||||||||
| Secured Debt | (37) | 11/22/2023 | 11/22/2028 | — | — | — | ||||||||
| Secured Debt | 11/22/2023 | 13.50% | 11/22/2028 | 4,300 | 4,175 | 4,175 | ||||||||
| Preferred Equity | 11/22/2023 | 1,863 | 1,863 | 1,863 | ||||||||||
| 6,038 | 6,038 | |||||||||||||
| Datacom, LLC | Technology and Telecommunications Provider | |||||||||||||
| Secured Debt | 3/1/2022 | 7.50% | 12/31/2025 | 50 | 49 | 49 | ||||||||
| Secured Debt | 3/31/2021 | 10.00% | 12/31/2025 | 928 | 887 | 844 | ||||||||
| Preferred Member Units | 3/31/2021 | 1,000 | 290 | 10 | ||||||||||
| 1,226 | 903 | |||||||||||||
| Digital Products Holdings LLC | Designer and Distributor of Consumer Electronics | |||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Secured Debt | (9) | 4/1/2018 | 15.38% | SF+ | 10.00% | 4/27/2026 | 3,718 | 3,689 | 3,673 | ||||||
| Preferred Member Units | (8) | 4/1/2018 | 964 | 2,375 | 2,459 | ||||||||||
| 6,064 | 6,132 | ||||||||||||||
| Direct Marketing Solutions, Inc. | Provider of Omni-Channel Direct Marketing Services | ||||||||||||||
| Secured Debt | 2/13/2018 | 14.00% | 2/13/2026 | 217 | 213 | 217 | |||||||||
| Secured Debt | 12/27/2022 | 14.00% | 2/13/2026 | 5,002 | 4,974 | 5,002 | |||||||||
| Preferred Stock | (8) | 2/13/2018 | 2,100 | 2,100 | 5,180 | ||||||||||
| 7,287 | 10,399 | ||||||||||||||
| Flame King Holdings, LLC | Propane Tank and Accessories Distributor | ||||||||||||||
| Preferred Equity | (8) | 10/29/2021 | 2,340 | 2,600 | 6,970 | ||||||||||
| Freeport Financial Funds | (12) (13) | Investment Partnership | |||||||||||||
| LP Interests (Freeport First Lien Loan Fund III LP) | (8) (24) | 7/31/2015 | 6.0% | 4,160 | 3,705 | ||||||||||
| Gamber-Johnson Holdings, LLC | Manufacturer of Ruggedized Computer Mounting Systems | ||||||||||||||
| Secured Debt | (9) (36) (37) | 6/24/2016 | SF+ | 7.50% | 1/1/2028 | — | — | — | |||||||
| Secured Debt | (9) (36) | 12/15/2022 | 10.50% | SF+ | 7.50% | 1/1/2028 | 13,520 | 13,336 | 13,520 | ||||||
| Member Units | (8) | 6/24/2016 | 2,261 | 4,423 | 24,180 | ||||||||||
| 17,759 | 37,700 | ||||||||||||||
| 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 | 2,336 | 2,304 | 2,336 | |||||||||
| Preferred Member Units | (8) | 3/31/2021 | 56 | 1,225 | 2,870 | ||||||||||
| 3,529 | 5,206 | ||||||||||||||
| Gulf Publishing Holdings, LLC | Energy Industry Focused Media and Publishing | ||||||||||||||
| Secured Debt | (9) (37) | 9/29/2017 | SF+ | 9.50% | 7/1/2027 | — | — | — | |||||||
| Secured Debt | 7/1/2022 | 12.50% | 7/1/2027 | 600 | 600 | 571 | |||||||||
| Preferred Equity | 7/1/2022 | 15,930 | 1,400 | 620 | |||||||||||
| Member Units | 4/29/2016 | 920 | 920 | — | |||||||||||
| 2,920 | 1,191 | ||||||||||||||
| Harris Preston Fund Investments | (12) (13) | Investment Partnership | |||||||||||||
| LP Interests (HPEP 3, L.P.) | (24) | 8/9/2017 | 8.2% | 2,296 | 4,225 | ||||||||||
| IG Investor, LLC | Military and Other Tactical Gear | ||||||||||||||
| Secured Debt | (37) | 6/21/2023 | 6/21/2028 | — | (27) | (27) | |||||||||
| Secured Debt | 6/21/2023 | 13.00% | 6/21/2028 | 9,316 | 9,069 | 9,069 | |||||||||
| Common Equity | 6/21/2023 | 3,600 | 3,600 | 3,600 | |||||||||||
| 12,642 | 12,642 | ||||||||||||||
| Independent Pet Partners Intermediate Holdings, LLC | (10) | Omnichannel Retailer of Specialty Pet Products | |||||||||||||
| Common Equity | 4/7/2023 | 6,436,566 | 6,540 | 6,320 | |||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Integral Energy Services | (10) | Nuclear Power Staffing Services | ||||||||||||||
| Secured Debt | (9) | 8/20/2021 | 13.16% | SF+ | 7.50% | 8/20/2026 | 16,925 | 16,737 | 16,232 | |||||||
| Preferred Equity | 12/7/2023 | 3,725 | 10.00% | 10.00% | 265 | 350 | ||||||||||
| Common Stock | 8/20/2021 | 11,647 | 1,584 | 190 | ||||||||||||
| 18,586 | 16,772 | |||||||||||||||
| Kickhaefer Manufacturing Company, LLC | Precision Metal Parts Manufacturing | |||||||||||||||
| Secured Debt | 10/31/2018 | 12.00% | 10/31/2026 | 4,950 | 4,933 | 4,933 | ||||||||||
| Secured Debt | 10/31/2018 | 9.00% | 10/31/2048 | 960 | 951 | 951 | ||||||||||
| Preferred Equity | 10/31/2018 | 145 | 3,060 | 2,420 | ||||||||||||
| Member Units | (23) | 10/31/2018 | 200 | 248 | 683 | |||||||||||
| 9,192 | 8,987 | |||||||||||||||
| MH Corbin Holding LLC | Manufacturer and Distributor of Traffic Safety Products | |||||||||||||||
| Secured Debt | (17) | 8/31/2015 | 13.00% | 12/31/2022 | 1,350 | 1,350 | 1,256 | |||||||||
| Preferred Member Units | 3/15/2019 | 16,500 | 1,100 | 80 | ||||||||||||
| Preferred Member Units | 9/1/2015 | 1,000 | 1,500 | — | ||||||||||||
| 3,950 | 1,336 | |||||||||||||||
| Mystic Logistics Holdings, LLC | Logistics and Distribution Services Provider for Large Volume Mailers | |||||||||||||||
| Secured Debt | (37) | 8/18/2014 | 1/31/2024 | — | — | — | ||||||||||
| Secured Debt | 8/18/2014 | 10.00% | 1/31/2024 | 1,436 | 1,436 | 1,436 | ||||||||||
| Common Stock | (8) | 8/18/2014 | 1,468 | 680 | 6,598 | |||||||||||
| 2,116 | 8,034 | |||||||||||||||
| NexRev LLC | Provider of Energy Efficiency Products & Services | |||||||||||||||
| Secured Debt | (37) | 2/28/2018 | 2/28/2025 | — | — | — | ||||||||||
| Secured Debt | 2/28/2018 | 10.00% | 2/28/2025 | 2,453 | 2,435 | 2,435 | ||||||||||
| Preferred Member Units | (8) | 2/28/2018 | 25,786,046 | 2,053 | 1,590 | |||||||||||
| 4,488 | 4,025 | |||||||||||||||
| NuStep, LLC | Designer, Manufacturer and Distributor of Fitness Equipment | |||||||||||||||
| Secured Debt | (9) | 1/31/2017 | 11.98% | SF+ | 6.50% | 1/31/2025 | 900 | 899 | 899 | |||||||
| Secured Debt | 1/31/2017 | 12.00% | 1/31/2025 | 4,610 | 4,606 | 4,606 | ||||||||||
| Preferred Member Units | 11/2/2022 | 515 | 515 | 1,290 | ||||||||||||
| Preferred Member Units | 1/31/2017 | 102 | 2,550 | 2,310 | ||||||||||||
| 8,570 | 9,105 | |||||||||||||||
| Oneliance, LLC | Construction Cleaning Company | |||||||||||||||
| Secured Debt | (9) | 8/6/2021 | 16.48% | SF+ | 11.00% | 8/6/2026 | 1,360 | 1,346 | 1,339 | |||||||
| Preferred Stock | 8/6/2021 | 282 | 282 | 282 | ||||||||||||
| 1,628 | 1,621 | |||||||||||||||
| Orttech Holdings, LLC | Distributor of Industrial Clutches, Brakes and Other Components | |||||||||||||||
| Secured Debt | (9) (37) | 7/30/2021 | SF+ | 11.00% | 7/31/2026 | — | (2) | — | ||||||||
| Secured Debt | (9) | 7/30/2021 | 16.48% | SF+ | 11.00% | 7/31/2026 | 5,510 | 5,452 | 5,510 | |||||||
| Preferred Stock | (8) (23) | 7/30/2021 | 2,500 | 2,500 | 4,260 | |||||||||||
| 7,950 | 9,770 | |||||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pinnacle TopCo, LLC · Manufacturer and Distributor of Garbage Can Liners, Poly Bags, Produce Bags, and Other Similar Products | ||||||||||||||||
| Secured Debt | 12/21/2023 | 8.00% | 12/31/2028 | 115 | 105 | 105 | ||||||||||
| Secured Debt | 12/21/2023 | 13.00% | 12/31/2028 | 7,660 | 7,472 | 7,472 | ||||||||||
| Preferred Equity | 12/21/2023 | 110 | 3,135 | 3,135 | ||||||||||||
| 10,712 | 10,712 | |||||||||||||||
| Robbins Bros. Jewelry, Inc. | Bridal Jewelry Retailer | |||||||||||||||
| Secured Debt | (37) | 12/15/2021 | 12/15/2026 | — | (6) | (6) | ||||||||||
| Secured Debt | 12/15/2021 | 12.50% | 12/15/2026 | 3,790 | 3,745 | 3,421 | ||||||||||
| Preferred Equity | 12/15/2021 | 1,230 | 1,230 | — | ||||||||||||
| 4,969 | 3,415 | |||||||||||||||
| SI East, LLC | Rigid Industrial Packaging Manufacturing | |||||||||||||||
| Secured Debt | 8/31/2018 | 11.25% | 6/16/2028 | 375 | 370 | 375 | ||||||||||
| Secured Debt | 6/16/2023 | 12.47% | 6/16/2028 | 18,179 | 18,019 | 18,179 | ||||||||||
| Preferred Member Units | (8) | 8/31/2018 | 55 | 508 | 6,390 | |||||||||||
| 18,897 | 24,944 | |||||||||||||||
| Student Resource Center, LLC | (10) | Higher Education Services | ||||||||||||||
| Secured Debt | (14) | 12/31/2022 | 8.50% | 8.50% | 12/31/2027 | 5,918 | 5,426 | 3,543 | ||||||||
| Preferred Equity | 12/31/2022 | 6,564,055 | — | — | ||||||||||||
| 5,426 | 3,543 | |||||||||||||||
| Tedder Industries, LLC | Manufacturer of Firearm Holsters and Accessories | |||||||||||||||
| Secured Debt | (17) | 8/31/2018 | 12.00% | 8/31/2023 | 460 | 460 | 432 | |||||||||
| Secured Debt | (17) | 8/31/2018 | 12.00% | 8/31/2023 | 3,800 | 3,800 | 3,565 | |||||||||
| Preferred Member Units | 8/28/2023 | 1,651 | 165 | — | ||||||||||||
| Preferred Member Units | 2/1/2023 | 1,411 | 141 | — | ||||||||||||
| Preferred Member Units | 8/31/2018 | 136 | 2,311 | — | ||||||||||||
| 6,877 | 3,997 | |||||||||||||||
| Trantech Radiator Topco, LLC | Transformer Cooling Products and Services | |||||||||||||||
| Secured Debt | (37) | 5/31/2019 | 5/31/2024 | — | (1) | — | ||||||||||
| Secured Debt | 5/31/2019 | 12.00% | 5/31/2024 | 1,980 | 1,975 | 1,980 | ||||||||||
| Common Stock | (8) | 5/31/2019 | 154 | 1,164 | 3,180 | |||||||||||
| 3,138 | 5,160 | |||||||||||||||
| VVS Holdco LLC | Omnichannel Retailer of Animal Health Products | |||||||||||||||
| Secured Debt | (9) (17) (37) | 12/1/2021 | SF+ | 6.00% | 12/1/2023 | — | — | — | ||||||||
| Secured Debt | 12/1/2021 | 11.50% | 12/1/2026 | 7,050 | 6,926 | 6,926 | ||||||||||
| Preferred Equity | (8) (23) | 12/1/2021 | 3,060 | 3,060 | 3,060 | |||||||||||
| 9,986 | 9,986 | |||||||||||||||
| Subtotal Affiliate Investments (46.8% of net assets at fair value) | $231,378 | $291,279 | ||||||||||||||
| Non-Control/Non-Affiliate Investments (7) | ||||||||||||||||
| AAC Holdings, Inc. | (11) | Substance Abuse Treatment Service Provider | ||||||||||||||
| Secured Debt | 1/31/2023 | 18.00% | 18.00% | 6/25/2025 | $151 | $149 | $149 | |||||||||
| Secured Debt | 12/11/2020 | 18.00% | 18.00% | 6/25/2025 | 5,014 | 4,888 | 4,958 | |||||||||
| Common Stock | 12/11/2020 | 593,927 | 3,148 | — | ||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants | (27) | 12/11/2020 | 197,717 | 12/11/2025 | — | — | ||||||||||
| 8,185 | 5,107 | |||||||||||||||
| AB Centers Acquisition Corporation | (10) | Applied Behavior Analysis Therapy Provider | ||||||||||||||
| Secured Debt | (9) (37) | 9/6/2022 | P+ | 5.00% | 9/6/2028 | — | (20) | — | ||||||||
| Secured Debt | (9) | 9/6/2022 | 11.43% | SF+ | 6.00% | 9/6/2028 | 1,081 | 1,066 | 1,081 | |||||||
| Secured Debt | (9) | 9/6/2022 | 11.43% | SF+ | 6.00% | 9/6/2028 | 2,304 | 2,219 | 2,304 | |||||||
| Secured Debt | (9) | 6/21/2023 | 11.43% | SF+ | 6.00% | 9/6/2028 | 772 | 743 | 772 | |||||||
| 4,008 | 4,157 | |||||||||||||||
| Acumera, Inc. | (10) | Managed Security Service Provider | ||||||||||||||
| Secured Debt | (9) (37) | 6/7/2023 | SF+ | 7.50% | 6/7/2028 | — | (8) | (8) | ||||||||
| Secured Debt | (9) | 6/7/2023 | 12.98% | SF+ | 7.50% | 6/7/2028 | 11,922 | 11,825 | 11,922 | |||||||
| Warrants | (40) | 6/7/2023 | 14,953 | 5/19/2028 | — | 90 | ||||||||||
| 11,817 | 12,004 | |||||||||||||||
| Adams Publishing Group, LLC | (10) | Local Newspaper Operator | ||||||||||||||
| Secured Debt | (9) (36) | 3/11/2022 | 11.00% | SF+ | 7.00% | 1.00% | 3/11/2027 | 936 | 936 | 917 | ||||||
| Secured Debt | (9) (36) | 3/11/2022 | 11.00% | SF+ | 7.00% | 1.00% | 3/11/2027 | 2,531 | 2,527 | 2,481 | ||||||
| 3,463 | 3,398 | |||||||||||||||
| ADS Tactical, Inc. | (11) | Value-Added Logistics and Supply Chain Provider to the Defense Industry | ||||||||||||||
| Secured Debt | (9) | 3/29/2021 | 11.22% | SF+ | 5.75% | 3/19/2026 | 4,250 | 4,210 | 4,214 | |||||||
| AMEREQUIP LLC | (10) | Full Services Provider Including Design, Engineering and Manufacturing of Commercial and Agricultural Equipment | ||||||||||||||
| Secured Debt | (9) (37) | 8/31/2022 | SF+ | 7.40% | 8/31/2027 | — | — | — | ||||||||
| Secured Debt | (9) | 8/31/2022 | 12.76% | SF+ | 7.40% | 8/31/2027 | 1,538 | 1,538 | 1,538 | |||||||
| Common Stock | (8) | 8/31/2022 | 11 | 83 | 100 | |||||||||||
| 1,621 | 1,638 | |||||||||||||||
| American Health Staffing Group, Inc. | (10) | Healthcare Temporary Staffing | ||||||||||||||
| Secured Debt | (9) (37) | 11/19/2021 | P+ | 5.00% | 11/19/2026 | — | (10) | (10) | ||||||||
| Secured Debt | (9) | 11/19/2021 | 13.50% | P+ | 5.00% | 11/19/2026 | 8,188 | 8,140 | 8,188 | |||||||
| 8,130 | 8,178 | |||||||||||||||
| American Nuts, LLC | (10) | Roaster, Mixer and Packager of Bulk Nuts and Seeds | ||||||||||||||
| Secured Debt | (9) | 3/11/2022 | 15.29% | SF+ | 9.75% | 15.29% | 4/10/2026 | 4,833 | 4,812 | 4,102 | ||||||
| Secured Debt | (9) | 3/11/2022 | 15.29% | SF+ | 9.75% | 15.29% | 4/10/2026 | — | — | — | ||||||
| Secured Debt | (9) (14) | 3/11/2022 | 17.29% | SF+ | 11.75% | 17.29% | 4/10/2026 | 4,270 | 4,244 | 2,522 | ||||||
| Secured Debt | (9) (14) | 3/11/2022 | 17.29% | SF+ | 11.75% | 17.29% | 4/10/2026 | — | — | — | ||||||
| 9,056 | 6,624 | |||||||||||||||
| American Teleconferencing Services, Ltd. | (11) | Provider of Audio Conferencing and Video Collaboration Solutions | ||||||||||||||
| Secured Debt | (14) (17) | 9/17/2021 | 4/7/2023 | 2,425 | 2,375 | 109 | ||||||||||
| Secured Debt | (14) (17) | 5/19/2016 | 6/8/2023 | 11,693 | 11,451 | 526 | ||||||||||
| 13,826 | 635 | |||||||||||||||
| ArborWorks, LLC | (10) | Vegetation Management Services | ||||||||||||||
| Secured Debt | 11/6/2023 | 15.00% | 15.00% | 11/6/2028 | 1,007 | 1,007 | 1,007 | |||||||||
| Secured Debt | (9) | 11/6/2023 | 12.04% | SF+ | 6.50% | 12.04% | 11/6/2028 | 3,765 | 3,765 | 3,765 | ||||||
| Preferred Equity | 11/6/2023 | 17,265 | 7,468 | 7,468 | ||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Equity | 11/6/2023 | 17,265 | — | — | ||||||||||||
| Common Equity | 11/9/2021 | 2,070 | 124 | — | ||||||||||||
| 12,364 | 12,240 | |||||||||||||||
| Archer Systems, LLC | (10) | Mass Tort Settlement Administration Solutions Provider | ||||||||||||||
| Common Stock | 8/11/2022 | 62,402 | 62 | 100 | ||||||||||||
| ATS Operating, LLC | (10) | For-Profit Thrift Retailer | ||||||||||||||
| Secured Debt | (9) | 1/18/2022 | 12.16% | SF+ | 6.50% | 1/18/2027 | 50 | 50 | 50 | |||||||
| Secured Debt | (9) | 1/18/2022 | 11.16% | SF+ | 5.50% | 1/18/2027 | 925 | 911 | 925 | |||||||
| Secured Debt | (9) | 1/18/2022 | 13.16% | SF+ | 7.50% | 1/18/2027 | 925 | 911 | 925 | |||||||
| Common Stock | 1/18/2022 | 100,000 | 100 | 90 | ||||||||||||
| 1,972 | 1,990 | |||||||||||||||
| AVEX Aviation Holdings, LLC | (10) | Specialty Aircraft Dealer & MRO Provider | ||||||||||||||
| Secured Debt | (9) (37) | 12/23/2022 | SF+ | 7.25% | 12/23/2027 | — | (17) | (5) | ||||||||
| Secured Debt | (9) | 12/23/2022 | 12.76% | SF+ | 7.25% | 12/23/2027 | 3,417 | 3,321 | 3,344 | |||||||
| Common Equity | (8) | 12/15/2021 | 137 | 134 | 124 | |||||||||||
| 3,438 | 3,463 | |||||||||||||||
| Berry Aviation, Inc. | (10) | Charter Airline Services | ||||||||||||||
| Preferred Member Units | (23) | 11/12/2019 | 122,416 | — | 200 | |||||||||||
| Preferred Member Units | (8) (23) | 7/6/2018 | 1,548,387 | — | 2,560 | |||||||||||
| — | 2,760 | |||||||||||||||
| Bettercloud, Inc. | (10) | SaaS Provider of Workflow Management and Business Application Solutions | ||||||||||||||
| Secured Debt | (9) (37) | 6/30/2022 | SF+ | 7.25% | 6/30/2028 | — | (18) | (18) | ||||||||
| Secured Debt | (9) | 6/30/2022 | 12.64% | SF+ | 7.25% | 6.25% | 6/30/2028 | 8,535 | 8,419 | 7,998 | ||||||
| 8,401 | 7,980 | |||||||||||||||
| Binswanger Enterprises, LLC | (10) | Glass Repair and Installation Service Provider | ||||||||||||||
| Member Units | 3/10/2017 | 1,050,000 | 1,050 | 120 | ||||||||||||
| Bluestem Brands, Inc. | (11) | Multi-Channel Retailer of General Merchandise | ||||||||||||||
| Secured Debt | (9) | 10/19/2022 | 16.00% | P+ | 7.50% | 15.00% | 8/28/2025 | 2,035 | 2,035 | 1,907 | ||||||
| Secured Debt | (9) | 8/28/2020 | 13.96% | SF+ | 8.50% | 12.96% | 8/28/2025 | 3,941 | 3,305 | 3,695 | ||||||
| Common Stock | 10/1/2020 | 700,446 | — | 533 | ||||||||||||
| Warrants | (27) | 10/19/2022 | 175,110 | 10/19/2032 | 1,111 | 129 | ||||||||||
| 6,451 | 6,264 | |||||||||||||||
| Boccella Precast Products LLC | Manufacturer of Precast Hollow Core Concrete | |||||||||||||||
| Secured Debt | 9/23/2021 | 10.00% | 2/28/2027 | 80 | 80 | 80 | ||||||||||
| Member Units | 6/30/2017 | 540,000 | 564 | 498 | ||||||||||||
| 644 | 578 | |||||||||||||||
| Bond Brand Loyalty ULC | (10) (13) (21) | Provider of Loyalty Marketing Services | ||||||||||||||
| Secured Debt | (9) (37) | 5/1/2023 | SF+ | 7.00% | 5/1/2028 | — | (16) | (16) | ||||||||
| Secured Debt | (9) | 5/1/2023 | 11.54% | SF+ | 6.00% | 5/1/2028 | 4,040 | 3,970 | 4,040 | |||||||
| Secured Debt | (9) | 5/1/2023 | 13.54% | SF+ | 8.00% | 5/1/2028 | 4,040 | 3,970 | 4,040 | |||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Equity | 5/1/2023 | 360 | 360 | 310 | ||||||||||||
| Common Equity | 5/1/2023 | 360 | — | — | ||||||||||||
| 8,284 | 8,374 | |||||||||||||||
| Brightwood Capital Fund Investments | (12) (13) | Investment Partnership | ||||||||||||||
| LP Interests (Brightwood Capital Fund III, LP) | (24) | 7/21/2014 | 0.5% | 2,270 | 1,360 | |||||||||||
| LP Interests (Brightwood Capital Fund IV, LP) | (8) (24) | 10/26/2016 | 1.2% | 8,737 | 8,716 | |||||||||||
| 11,007 | 10,076 | |||||||||||||||
| Buca C, LLC | Casual Restaurant Group | |||||||||||||||
| Secured Debt | (17) | 6/30/2015 | 12.00% | 8/31/2023 | 11,490 | 11,490 | 8,218 | |||||||||
| Preferred Member Units | 6/30/2015 | 4 | 6.00% | 6.00% | 3,040 | — | ||||||||||
| 14,530 | 8,218 | |||||||||||||||
| Burning Glass Intermediate Holding Company, Inc. | (10) | Provider of Skills-Based Labor Market Analytics | ||||||||||||||
| Secured Debt | (9) | 6/14/2021 | 10.46% | SF+ | 5.00% | 6/10/2026 | 310 | 296 | 310 | |||||||
| Secured Debt | (9) | 6/14/2021 | 10.46% | SF+ | 5.00% | 6/10/2028 | 13,121 | 12,970 | 13,121 | |||||||
| 13,266 | 13,431 | |||||||||||||||
| CAI Software LLC | Provider of Specialized Enterprise Resource Planning Software | |||||||||||||||
| Preferred Equity | 12/13/2021 | 379,338 | 379 | 379 | ||||||||||||
| Preferred Equity | 12/13/2021 | 126,446 | — | — | ||||||||||||
| 379 | 379 | |||||||||||||||
| Career Team Holdings, LLC | Provider of Workforce Training and Career Development Services | |||||||||||||||
| Secured Debt | (9) | 12/17/2021 | 11.38% | SF+ | 6.00% | 12/17/2026 | 100 | 96 | 96 | |||||||
| Secured Debt | 12/17/2021 | 13.00% | 12/17/2026 | 2,225 | 2,185 | 2,185 | ||||||||||
| Common Stock | 12/17/2021 | 50,000 | 500 | 500 | ||||||||||||
| 2,781 | 2,781 | |||||||||||||||
| CaseWorthy, Inc. | (10) | SaaS Provider of Case Management Solutions | ||||||||||||||
| Secured Debt | (9) (37) | 5/18/2022 | SF+ | 6.00% | 5/18/2027 | — | (3) | (3) | ||||||||
| Secured Debt | (9) | 5/18/2022 | 11.61% | SF+ | 6.00% | 5/18/2027 | 2,581 | 2,561 | 2,581 | |||||||
| Secured Debt | (9) | 5/18/2022 | 11.61% | SF+ | 6.00% | 5/18/2027 | 1,985 | 1,971 | 1,985 | |||||||
| Common Equity | 12/30/2022 | 80,000 | 80 | 80 | ||||||||||||
| 4,609 | 4,643 | |||||||||||||||
| Channel Partners Intermediateco, LLC | (10) | Outsourced Consumer Services Provider | ||||||||||||||
| Secured Debt | (9) (44) | 2/7/2022 | 12.60% | SF+ | 7.00% | 2/7/2027 | 190 | 175 | 183 | |||||||
| Secured Debt | (9) | 2/7/2022 | 12.66% | SF+ | 7.00% | 2/7/2027 | 3,360 | 3,317 | 3,224 | |||||||
| Secured Debt | (9) | 6/24/2022 | 12.66% | SF+ | 7.00% | 2/7/2027 | 186 | 184 | 179 | |||||||
| Secured Debt | (9) | 3/27/2023 | 12.66% | SF+ | 7.00% | 2/7/2027 | 450 | 440 | 432 | |||||||
| 4,116 | 4,018 | |||||||||||||||
| Clarius BIGS, LLC | (10) | Prints & Advertising Film Financing | ||||||||||||||
| Secured Debt | (14) (17) | 9/23/2014 | 1/5/2015 | 2,694 | 2,350 | 16 | ||||||||||
| Classic H&G Holdings, LLC | Provider of Engineered Packaging Solutions | |||||||||||||||
| Secured Debt | (9) | 3/12/2020 | 11.69% | SF+ | 6.00% | 3/12/2025 | 1,140 | 1,133 | 1,140 | |||||||
| Secured Debt | 3/12/2020 | 8.00% | 3/12/2025 | 4,819 | 4,781 | 4,819 | ||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Member Units | (8) | 3/12/2020 | 39 | 1,440 | 4,000 | |||||||||||
| 7,354 | 9,959 | |||||||||||||||
| Computer Data Source, LLC | (10) | Third Party Maintenance Provider to the Data Center Ecosystem | ||||||||||||||
| Secured Debt | (9) (30) | 8/6/2021 | 13.52% | SF+ | 8.00% | 8/6/2026 | 4,167 | 4,123 | 4,040 | |||||||
| Secured Debt | (9) | 8/6/2021 | 13.52% | SF+ | 8.00% | 8/6/2026 | 15,260 | 15,098 | 14,797 | |||||||
| 19,221 | 18,837 | |||||||||||||||
| Construction Supply Investments, LLC | (10) | Distribution Platform of Specialty Construction Materials to Professional Concrete and Masonry Contractors | ||||||||||||||
| Member Units | 12/29/2016 | 861,618 | 3,335 | 23,135 | ||||||||||||
| CQ Fluency, LLC | (10) | Global Language Services Provider | ||||||||||||||
| Secured Debt | (9) (37) | 12/27/2023 | SF+ | 7.00% | 6/27/2027 | — | (44) | (44) | ||||||||
| Secured Debt | (9) (37) | 12/27/2023 | SF+ | 7.00% | 6/27/2027 | — | (44) | (44) | ||||||||
| Secured Debt | (9) | 12/27/2023 | 12.45% | SF+ | 7.00% | 6/27/2027 | 7,500 | 7,280 | 7,280 | |||||||
| 7,192 | 7,192 | |||||||||||||||
| Dalton US Inc. | (10) | Provider of Supplemental Labor Services | ||||||||||||||
| Common Stock | 8/16/2022 | 37 | 52 | 60 | ||||||||||||
| DMA Industries, LLC | Distributor of Aftermarket Ride Control Products | |||||||||||||||
| Secured Debt | 11/19/2021 | 12.00% | 11/19/2026 | 4,700 | 4,642 | 4,700 | ||||||||||
| Preferred Equity | 11/19/2021 | 1,486 | 1,486 | 1,920 | ||||||||||||
| 6,128 | 6,620 | |||||||||||||||
| DTE Enterprises, LLC | (10) | Industrial Powertrain Repair and Services | ||||||||||||||
| Class AA Preferred Member Units (non-voting) | (8) | 4/13/2018 | 10.00% | 10.00% | 1,284 | 1,283 | ||||||||||
| Class A Preferred Member Units | 4/13/2018 | 776,316 | 8.00% | 8.00% | 776 | 260 | ||||||||||
| 2,060 | 1,543 | |||||||||||||||
| Dynamic Communities, LLC | (10) | Developer of Business Events and Online Community Groups | ||||||||||||||
| Secured Debt | (9) | 12/20/2022 | 10.45% | SF+ | 5.00% | 10.45% | 12/31/2026 | 2,070 | 1,912 | 1,912 | ||||||
| Secured Debt | (9) | 12/20/2022 | 12.45% | SF+ | 7.00% | 12.45% | 12/31/2026 | 2,113 | 1,879 | 1,859 | ||||||
| Preferred Equity | 12/20/2022 | 125,000 | 128 | 60 | ||||||||||||
| Preferred Equity | 12/20/2022 | 2,376,241 | — | — | ||||||||||||
| Common Equity | 12/20/2022 | 1,250,000 | — | — | ||||||||||||
| 3,919 | 3,831 | |||||||||||||||
| Elgin AcquireCo, LLC | Manufacturer and Distributor of Engine and Chassis Components | |||||||||||||||
| Secured Debt | (9) (37) | 10/3/2022 | SF+ | 6.00% | 10/3/2027 | — | — | — | ||||||||
| Secured Debt | 10/3/2022 | 12.00% | 10/3/2027 | 1,227 | 1,200 | 1,200 | ||||||||||
| Secured Debt | 10/3/2022 | 9.00% | 10/3/2052 | 412 | 409 | 409 | ||||||||||
| Common Stock | 10/3/2022 | 19 | 374 | 390 | ||||||||||||
| Common Stock | (23) | 10/3/2022 | 61 | 102 | 109 | |||||||||||
| 2,085 | 2,108 | |||||||||||||||
| Emerald Technologies Acquisition Co, Inc. | (11) | Design & Manufacturing | ||||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Secured Debt | (9) | 2/10/2022 | 11.79% | SF+ | 6.25% | 12/29/2027 | 2,391 | 2,357 | 2,175 | |||||||
| Engineering Research & Consulting, LLC | (10) | Provider of Engineering & Consulting Services to US Department of Defense | ||||||||||||||
| Secured Debt | (9) (37) | 5/23/2022 | P+ | 5.50% | 5/23/2027 | — | (11) | — | ||||||||
| Secured Debt | (9) | 5/23/2022 | 11.98% | SF+ | 6.50% | 5/23/2028 | 5,095 | 5,023 | 5,095 | |||||||
| 5,012 | 5,095 | |||||||||||||||
| Escalent, Inc. | (10) | Market Research and Consulting Firm | ||||||||||||||
| Secured Debt | (9) (37) | 4/7/2023 | SF+ | 8.00% | 4/7/2029 | — | (9) | (9) | ||||||||
| Secured Debt | (9) | 4/7/2023 | 13.45% | SF+ | 8.00% | 4/7/2029 | 6,924 | 6,742 | 6,924 | |||||||
| Common Equity | 4/7/2023 | 170,998 | 174 | 190 | ||||||||||||
| 6,907 | 7,105 | |||||||||||||||
| Event Holdco, LLC | (10) | Event and Learning Management Software for Healthcare Organizations and Systems | ||||||||||||||
| Secured Debt | (9) | 12/22/2021 | 12.61% | SF+ | 7.00% | 12/22/2026 | 308 | 306 | 302 | |||||||
| Secured Debt | (9) | 12/22/2021 | 12.61% | SF+ | 7.00% | 12/22/2026 | 3,681 | 3,659 | 3,614 | |||||||
| 3,965 | 3,916 | |||||||||||||||
| Garyline, LLC | (10) | Manufacturer of Consumer Plastic Products | ||||||||||||||
| Secured Debt | (9) (37) | 11/10/2023 | SF+ | 6.75% | 11/10/2028 | — | (76) | (76) | ||||||||
| Secured Debt | (9) | 11/10/2023 | 12.22% | SF+ | 6.75% | 11/10/2028 | 9,664 | 9,384 | 9,384 | |||||||
| Common Equity | 11/10/2023 | 210,084 | 210 | 210 | ||||||||||||
| 9,518 | 9,518 | |||||||||||||||
| Hawk Ridge Systems, LLC | Value-Added Reseller of Engineering Design and Manufacturing Solutions | |||||||||||||||
| Secured Debt | (9) | 12/2/2016 | 11.65% | SF+ | 6.00% | 1/15/2026 | 494 | 492 | 494 | |||||||
| Secured Debt | 12/2/2016 | 12.50% | 1/15/2026 | 9,744 | 9,697 | 9,744 | ||||||||||
| Preferred Member Units | 12/2/2016 | 56 | 713 | 4,370 | ||||||||||||
| Preferred Member Units | (23) | 12/2/2016 | 56 | 38 | 230 | |||||||||||
| 10,940 | 14,838 | |||||||||||||||
| HDC/HW Intermediate Holdings | (10) | Managed Services and Hosting Provider | ||||||||||||||
| Secured Debt | (9) (17) | 12/21/2018 | 14.34% | SF+ | 9.50% | 14.34% | 12/21/2023 | 205 | 205 | 186 | ||||||
| Secured Debt | (9) (17) | 12/21/2018 | 14.34% | SF+ | 9.50% | 14.34% | 12/21/2023 | 2,036 | 2,036 | 1,849 | ||||||
| 2,241 | 2,035 | |||||||||||||||
| HEADLANDS OP-CO LLC | (10) | Clinical Trial Sites Operator | ||||||||||||||
| Secured Debt | (9) (37) | 8/1/2022 | SF+ | 6.50% | 8/1/2027 | — | (14) | (14) | ||||||||
| Secured Debt | (9) | 8/1/2022 | 11.86% | SF+ | 6.50% | 8/1/2027 | 1,995 | 1,962 | 1,995 | |||||||
| Secured Debt | (9) | 8/1/2022 | 11.86% | SF+ | 6.50% | 8/1/2027 | 4,925 | 4,854 | 4,925 | |||||||
| 6,802 | 6,906 | |||||||||||||||
| Hybrid Promotions, LLC | (10) | Wholesaler of Licensed, Branded and Private Label Apparel | ||||||||||||||
| Secured Debt | (9) | 6/30/2021 | 15.91% | SF+ | 8.25% | 2.00% | 6/30/2026 | 7,964 | 7,813 | 7,313 | ||||||
| IG Parent Corporation | (11) | Software Engineering | ||||||||||||||
| Secured Debt | (9) (37) | 7/30/2021 | SF+ | 5.75% | 7/30/2026 | — | (13) | — | ||||||||
| Secured Debt | (9) | 7/30/2021 | 10.96% | SF+ | 5.50% | 7/30/2028 | 6,266 | 6,200 | 6,266 | |||||||
| Secured Debt | (9) | 7/30/2021 | 10.96% | SF+ | 5.50% | 7/30/2028 | 1,942 | 1,921 | 1,942 | |||||||
| 8,108 | 8,208 | |||||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Imaging Business Machines, L.L.C. | (10) | Technology Hardware & Equipment | ||||||||||||||
| Secured Debt | (9) (29) | 6/8/2023 | 12.41% | SF+ | 7.00% | 6/30/2028 | 791 | 791 | 786 | |||||||
| Secured Debt | (9) | 6/8/2023 | 12.45% | SF+ | 7.00% | 6/30/2028 | 10,384 | 10,068 | 10,318 | |||||||
| Common Equity | 6/8/2023 | 422 | 580 | 550 | ||||||||||||
| 11,439 | 11,654 | |||||||||||||||
| Implus Footcare, LLC | (10) | Provider of Footwear and Related Accessories | ||||||||||||||
| Secured Debt | (9) | 6/1/2017 | 14.25% | SF+ | 7.75% | 1.00% | 7/31/2024 | 17,012 | 17,010 | 15,816 | ||||||
| Industrial Services Acquisition, LLC | (10) | Industrial Cleaning Services | ||||||||||||||
| Secured Debt | (9) (32) | 8/13/2021 | 12.22% | SF+ | 6.75% | 8/13/2026 | 752 | 734 | 752 | |||||||
| Secured Debt | (9) | 8/13/2021 | 12.22% | SF+ | 6.75% | 8/13/2026 | 11,436 | 11,330 | 11,436 | |||||||
| Preferred Member Units | (8) (23) | 1/31/2018 | 336 | 10.00% | 10.00% | 321 | 415 | |||||||||
| Preferred Member Units | (8) (23) | 5/17/2019 | 187 | 20.00% | 20.00% | 240 | 279 | |||||||||
| Member Units | (23) | 6/17/2016 | 2,100 | 2,100 | 1,610 | |||||||||||
| 14,725 | 14,492 | |||||||||||||||
| Infinity X1 Holdings, LLC | Manufacturer and Supplier of Personal Lighting Products | |||||||||||||||
| Secured Debt | 3/31/2023 | 13.00% | 3/31/2028 | 4,388 | 4,314 | 4,314 | ||||||||||
| Preferred Equity | 3/31/2023 | 20,000 | 1,000 | 1,000 | ||||||||||||
| 5,314 | 5,314 | |||||||||||||||
| Infolinks Media Buyco, LLC | (10) | Exclusive Placement Provider to the Advertising Ecosystem | ||||||||||||||
| Secured Debt | (9) | 11/1/2021 | 11.21% | SF+ | 5.75% | 11/1/2026 | 1,881 | 1,829 | 1,881 | |||||||
| Secured Debt | (9) | 11/1/2021 | 11.21% | SF+ | 5.75% | 11/1/2026 | 9,690 | 9,579 | 9,690 | |||||||
| 11,408 | 11,571 | |||||||||||||||
| Insight Borrower Corporation | (10) | Test, Inspection, and Certification Instrument Provider | ||||||||||||||
| Secured Debt | (9) (37) | 7/19/2023 | SF+ | 6.25% | 7/19/2028 | — | (40) | (40) | ||||||||
| Secured Debt | (9) (37) | 7/19/2023 | SF+ | 6.25% | 7/19/2029 | — | (33) | (33) | ||||||||
| Secured Debt | (9) | 7/19/2023 | 11.65% | SF+ | 6.25% | 7/19/2029 | 8,373 | 8,143 | 8,287 | |||||||
| Common Equity | 7/19/2023 | 47,847 | 239 | 239 | ||||||||||||
| 8,309 | 8,453 | |||||||||||||||
| Inspire Aesthetics Management, LLC | (10) | Surgical and Non-Surgical Plastic Surgery and Aesthetics Provider | ||||||||||||||
| Secured Debt | (9) (31) | 4/3/2023 | 13.53% | SF+ | 8.00% | 4/3/2028 | 676 | 659 | 664 | |||||||
| Secured Debt | (9) | 4/3/2023 | 13.55% | SF+ | 8.00% | 4/3/2028 | 6,256 | 6,115 | 6,144 | |||||||
| Secured Debt | (9) | 6/14/2023 | 13.55% | SF+ | 8.00% | 4/3/2028 | 1,260 | 1,231 | 1,237 | |||||||
| Common Equity | 4/3/2023 | 101,719 | 322 | 190 | ||||||||||||
| 8,327 | 8,235 | |||||||||||||||
| Interface Security Systems, L.L.C | (10) | Commercial Security & Alarm Services | ||||||||||||||
| Secured Debt | (17) (28) | 12/9/2021 | 15.48% | SF+ | 10.00% | 8/7/2023 | 1,835 | 1,835 | 1,781 | |||||||
| Secured Debt | (9) (14) (17) | 8/7/2019 | 12.46% | SF+ | 7.00% | 12.46% | 8/7/2023 | 7,334 | 7,254 | 433 | ||||||
| Common Stock | 12/7/2021 | 2,143 | — | — | ||||||||||||
| 9,089 | 2,214 | |||||||||||||||
| Intermedia Holdings, Inc. | (11) | Unified Communications as a Service | ||||||||||||||
| Secured Debt | (9) | 8/3/2018 | 11.47% | SF+ | 6.00% | 7/19/2025 | 5,544 | 5,539 | 5,370 | |||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invincible Boat Company, LLC. | (10) | Manufacturer of Sport Fishing Boats | ||||||||||||||
| Secured Debt | (9) | 8/28/2019 | 12.00% | SF+ | 6.50% | 8/28/2025 | 519 | 516 | 509 | |||||||
| Secured Debt | (9) | 8/28/2019 | 12.00% | SF+ | 6.50% | 8/28/2025 | 16,812 | 16,751 | 16,515 | |||||||
| 17,267 | 17,024 | |||||||||||||||
| INW Manufacturing, LLC | (11) | Manufacturer of Nutrition and Wellness Products | ||||||||||||||
| Secured Debt | (9) | 5/19/2021 | 11.36% | SF+ | 5.75% | 3/25/2027 | 6,656 | 6,537 | 5,325 | |||||||
| Iron-Main Investments, LLC | Consumer Reporting Agency Providing Employment Background Checks and Drug Testing | |||||||||||||||
| Secured Debt | 8/2/2021 | 13.50% | 1/31/2028 | 1,128 | 1,108 | 1,108 | ||||||||||
| Secured Debt | 9/1/2021 | 13.50% | 1/31/2028 | 735 | 722 | 722 | ||||||||||
| Secured Debt | 11/15/2021 | 13.50% | 1/31/2028 | 2,236 | 2,236 | 2,236 | ||||||||||
| Secured Debt | 11/15/2021 | 13.50% | 1/31/2028 | 4,906 | 4,815 | 4,815 | ||||||||||
| Secured Debt | 1/31/2023 | 13.50% | 1/31/2028 | 2,641 | 2,525 | 2,525 | ||||||||||
| Common Stock | 8/3/2021 | 50,753 | 689 | 670 | ||||||||||||
| 12,095 | 12,076 | |||||||||||||||
| Isagenix International, LLC | (11) | Direct Marketer of Health & Wellness Products | ||||||||||||||
| Secured Debt | (9) | 4/13/2023 | 11.04% | SF+ | 5.50% | 8.54% | 4/14/2028 | 2,615 | 2,374 | 2,301 | ||||||
| Common Equity | 4/13/2023 | 186,322 | — | — | ||||||||||||
| 2,374 | 2,301 | |||||||||||||||
| ITA Holdings Group, LLC | Air Ambulance Services | |||||||||||||||
| Secured Debt | (9) | 6/21/2023 | 16.59% | SF+ | 9.00% | 2.00% | 6/21/2027 | 207 | 201 | 201 | ||||||
| Secured Debt | (9) | 6/21/2023 | 16.59% | SF+ | 9.00% | 2.00% | 6/21/2027 | 178 | 174 | 174 | ||||||
| Secured Debt | (9) | 6/21/2023 | 15.59% | SF+ | 8.00% | 2.00% | 6/21/2027 | 1,084 | 842 | 842 | ||||||
| Secured Debt | (9) | 6/21/2023 | 17.59% | SF+ | 10.00% | 2.00% | 6/21/2027 | 1,091 | 848 | 848 | ||||||
| Warrants | (27) | 6/21/2023 | 48,327 | 6/21/2033 | 523 | 523 | ||||||||||
| 2,588 | 2,588 | |||||||||||||||
| Jackmont Hospitality, Inc. | (10) | Franchisee of Casual Dining Restaurants | ||||||||||||||
| Secured Debt | (9) (26) | 10/26/2022 | 12.46% | SF+ | 7.00% | 11/4/2024 | 1,675 | 1,649 | 1,675 | |||||||
| Secured Debt | (9) | 11/8/2021 | 12.46% | SF+ | 7.00% | 11/4/2024 | 3,948 | 3,948 | 3,948 | |||||||
| Preferred Equity | 11/8/2021 | 5,653,333 | 216 | 2,190 | ||||||||||||
| 5,813 | 7,813 | |||||||||||||||
| Joerns Healthcare, LLC | (11) | Manufacturer and Distributor of Health Care Equipment & Supplies | ||||||||||||||
| Secured Debt | (9) (14) | 11/15/2021 | 23.63% | SF+ | 18.00% | 23.63% | 1/31/2024 | 2,048 | 2,048 | 1,747 | ||||||
| Secured Debt | (9) (14) | 8/21/2019 | 21.63% | SF+ | 16.00% | 21.63% | 8/21/2024 | 1,708 | 1,701 | 121 | ||||||
| Secured Debt | (9) (14) | 8/21/2019 | 21.63% | SF+ | 16.00% | 21.63% | 8/21/2024 | 1,643 | 1,635 | 117 | ||||||
| Common Stock | 8/21/2019 | 392,514 | 3,678 | — | ||||||||||||
| 9,062 | 1,985 | |||||||||||||||
| Johnson Downie Opco, LLC | Executive Search Services | |||||||||||||||
| Secured Debt | (37) | 12/10/2021 | 12/10/2026 | — | (4) | — | ||||||||||
| Secured Debt | 12/10/2021 | 15.00% | 12/10/2026 | 2,690 | 2,645 | 2,690 | ||||||||||
| Preferred Equity | 12/10/2021 | 368 | 404 | 1,070 | ||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,045 | 3,760 | |||||||||||||||
| JorVet Holdings, LLC | Supplier and Distributor of Veterinary Equipment and Supplies | |||||||||||||||
| Secured Debt | 3/28/2022 | 12.00% | 3/28/2027 | 2,850 | 2,814 | 2,814 | ||||||||||
| Preferred Equity | (8) | 3/28/2022 | 11,934 | 1,193 | 1,193 | |||||||||||
| 4,007 | 4,007 | |||||||||||||||
| JTI Electrical & Mechanical, LLC | (10) | Electrical, Mechanical and Automation Services | ||||||||||||||
| Secured Debt | (9) (41) | 12/22/2021 | 11.64% | SF+ | 6.00% | 12/22/2026 | 261 | 253 | 261 | |||||||
| Secured Debt | (9) | 12/22/2021 | 11.61% | SF+ | 6.00% | 12/22/2026 | 3,000 | 2,963 | 3,000 | |||||||
| Common Equity | 12/22/2021 | 140,351 | 140 | 140 | ||||||||||||
| 3,356 | 3,401 | |||||||||||||||
| KMS, LLC | (10) | Wholesaler of Closeout and Value-priced Products | ||||||||||||||
| Secured Debt | (9) | 10/4/2021 | 14.75% | SF+ | 9.25% | 10/4/2026 | 1,292 | 1,235 | 1,180 | |||||||
| Secured Debt | (9) | 10/4/2021 | 14.75% | SF+ | 9.25% | 10/4/2026 | 9,310 | 9,205 | 8,475 | |||||||
| 10,440 | 9,655 | |||||||||||||||
| Lightbox Holdings, L.P. | (11) | Provider of Commercial Real Estate Software | ||||||||||||||
| Secured Debt | 5/9/2019 | 10.62% | SF+ | 5.00% | 5/9/2026 | 5,765 | 5,736 | 5,592 | ||||||||
| LL Management, Inc. | (10) | Medical Transportation Service Provider | ||||||||||||||
| Secured Debt | (9) | 5/2/2019 | 12.71% | SF+ | 7.25% | 9/25/2024 | 7,960 | 7,933 | 7,960 | |||||||
| Secured Debt | (9) | 5/2/2019 | 12.71% | SF+ | 7.25% | 9/25/2024 | 5,246 | 5,228 | 5,246 | |||||||
| Secured Debt | (9) | 11/20/2020 | 12.71% | SF+ | 7.25% | 9/25/2024 | — | — | — | |||||||
| Secured Debt | (9) | 2/26/2021 | 12.71% | SF+ | 7.25% | 9/25/2024 | 871 | 868 | 871 | |||||||
| Secured Debt | (9) | 5/12/2022 | 12.71% | SF+ | 7.25% | 9/25/2024 | 8,822 | 8,781 | 8,822 | |||||||
| 22,810 | 22,899 | |||||||||||||||
| LLFlex, LLC | (10) | Provider of Metal-Based Laminates | ||||||||||||||
| Secured Debt | (9) | 8/16/2021 | 15.54% | SF+ | 9.00% | 1.00% | 8/16/2026 | 4,920 | 4,861 | 4,417 | ||||||
| Logix Acquisition Company, LLC | (10) | Competitive Local Exchange Carrier | ||||||||||||||
| Secured Debt | (9) | 1/8/2018 | 13.25% | P+ | 4.75% | 12/22/2024 | 11,552 | 11,285 | 9,069 | |||||||
| Mako Steel, LP | (10) | Self-Storage Design & Construction | ||||||||||||||
| Secured Debt | (9) (37) | 3/15/2021 | SF+ | 6.75% | 3/15/2026 | — | (36) | — | ||||||||
| Secured Debt | (9) | 3/15/2021 | 12.28% | SF+ | 6.75% | 3/15/2026 | 16,721 | 16,568 | 16,721 | |||||||
| 16,532 | 16,721 | |||||||||||||||
| MB2 Dental Solutions, LLC | (11) | Dental Partnership Organization | ||||||||||||||
| Secured Debt | (9) | 1/28/2021 | 11.46% | SF+ | 6.00% | 1/29/2027 | 2,803 | 2,771 | 2,803 | |||||||
| Secured Debt | (9) | 1/28/2021 | 11.46% | SF+ | 6.00% | 1/29/2027 | 3,925 | 3,880 | 3,925 | |||||||
| Secured Debt | (9) | 1/28/2021 | 11.46% | SF+ | 6.00% | 1/29/2027 | 3,464 | 3,424 | 3,464 | |||||||
| Secured Debt | (9) | 1/28/2021 | 11.46% | SF+ | 6.00% | 1/29/2027 | 7,796 | 7,725 | 7,796 | |||||||
| 17,800 | 17,988 | |||||||||||||||
| Metalforming Holdings, LLC | Distributor of Sheet Metal Folding and Metal Forming Equipment | |||||||||||||||
| Secured Debt | (37) | 10/19/2022 | 10/19/2024 | — | — | — | ||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Secured Debt | 10/19/2022 | 12.75% | 10/19/2027 | 1,748 | 1,707 | 1,707 | ||||||||||
| Preferred Equity | (8) | 10/19/2022 | 434,331 | 8.00% | 8.00% | 443 | 443 | |||||||||
| Common Stock | 10/19/2022 | 112,865 | 113 | 110 | ||||||||||||
| 2,263 | 2,260 | |||||||||||||||
| Microbe Formulas, LLC | (10) | Nutritional Supplements Provider | ||||||||||||||
| Secured Debt | (9) (37) | 4/4/2022 | SF+ | 6.25% | 4/3/2028 | — | (6) | (6) | ||||||||
| Secured Debt | (9) | 4/4/2022 | 11.46% | SF+ | 6.00% | 4/3/2028 | 2,671 | 2,632 | 2,671 | |||||||
| 2,626 | 2,665 | |||||||||||||||
| Mills Fleet Farm Group, LLC | (10) | Omnichannel Retailer of Work, Farm and Lifestyle Merchandise | ||||||||||||||
| Secured Debt | (9) | 10/24/2018 | 12.52% | SF+ | 7.00% | 12/31/2026 | 18,152 | 17,863 | 17,524 | |||||||
| Mini Melts of America, LLC | (10) | Manufacturer and Distributor of Branded Premium Beaded Ice Cream | ||||||||||||||
| Secured Debt | (9) (37) | 11/30/2023 | SF+ | 6.25% | 11/30/2028 | — | (28) | (28) | ||||||||
| Secured Debt | (9) (37) | 11/30/2023 | SF+ | 6.25% | 11/30/2028 | — | (10) | (10) | ||||||||
| Secured Debt | (9) | 11/30/2023 | 10.64% | SF+ | 5.25% | 11/30/2028 | 3,225 | 3,149 | 3,149 | |||||||
| Secured Debt | (9) | 11/30/2023 | 12.64% | SF+ | 7.25% | 11/30/2028 | 3,225 | 3,146 | 3,146 | |||||||
| Common Equity | 11/30/2023 | 300,000 | 300 | 300 | ||||||||||||
| 6,557 | 6,557 | |||||||||||||||
| MonitorUS Holding, LLC | (10) (13) (21) | SaaS Provider of Media Intelligence Services | ||||||||||||||
| Secured Debt | 5/24/2022 | 14.00% | 4.00% | 5/24/2027 | 1,120 | 1,106 | 1,133 | |||||||||
| Secured Debt | 5/24/2022 | 14.00% | 4.00% | 5/24/2027 | 2,912 | 2,870 | 3,184 | |||||||||
| Secured Debt | 5/24/2022 | 14.00% | 4.00% | 5/24/2027 | 4,957 | 4,890 | 4,957 | |||||||||
| Common Stock | 8/30/2022 | 12,798,820 | 256 | 197 | ||||||||||||
| 9,122 | 9,471 | |||||||||||||||
| NinjaTrader, LLC | (10) | Operator of Futures Trading Platform | ||||||||||||||
| Secured Debt | (9) (37) | 12/18/2019 | SF+ | 7.00% | 12/18/2026 | — | (4) | (3) | ||||||||
| Secured Debt | (9) (37) | 12/18/2019 | SF+ | 7.00% | 12/18/2026 | — | (12) | (12) | ||||||||
| Secured Debt | (9) | 12/18/2019 | 12.54% | SF+ | 7.00% | 12/18/2026 | 10,991 | 10,888 | 10,991 | |||||||
| Secured Debt | (9) | 12/18/2023 | 12.52% | SF+ | 7.00% | 12/18/2026 | 3,878 | 3,807 | 3,878 | |||||||
| 14,679 | 14,854 | |||||||||||||||
| Obra Capital, Inc. (f/k/a Vida Capital, Inc.) | (11) | Alternative Asset Manager | ||||||||||||||
| Secured Debt | 10/10/2019 | 11.47% | SF+ | 6.00% | 10/1/2026 | 7,043 | 6,711 | 6,039 | ||||||||
| Paragon Healthcare, Inc. | (10) | Infusion Therapy Treatment Provider | ||||||||||||||
| Secured Debt | (9) (37) | 1/19/2022 | SF+ | 5.75% | 1/19/2027 | — | (11) | — | ||||||||
| Secured Debt | (9) (43) | 1/19/2022 | 11.24% | SF+ | 5.75% | 1/19/2027 | 423 | 414 | 421 | |||||||
| Secured Debt | (9) | 1/19/2022 | 11.25% | SF+ | 5.75% | 1/19/2027 | 2,456 | 2,412 | 2,442 | |||||||
| 2,815 | 2,863 | |||||||||||||||
| Power System Solutions | (10) | Backup Power Generation | ||||||||||||||
| Secured Debt | (9) (37) | 6/7/2023 | SF+ | 6.75% | 6/7/2028 | — | (35) | (35) | ||||||||
| Secured Debt | (9) (37) | 6/7/2023 | SF+ | 6.75% | 6/7/2028 | — | (35) | (35) | ||||||||
| Secured Debt | (9) | 6/7/2023 | 12.12% | SF+ | 6.75% | 6/7/2028 | 7,939 | 7,729 | 7,939 | |||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Equity | 6/7/2023 | 532 | 532 | 500 | ||||||||||||
| 8,191 | 8,369 | |||||||||||||||
| PrimeFlight Aviation Services | (10) | Air Freight & Logistics | ||||||||||||||
| Secured Debt | (9) | 5/1/2023 | 12.28% | SF+ | 6.85% | 5/1/2029 | 5,970 | 5,813 | 5,970 | |||||||
| Secured Debt | (9) | 9/7/2023 | 12.20% | SF+ | 6.85% | 5/1/2029 | 570 | 553 | 570 | |||||||
| 6,366 | 6,540 | |||||||||||||||
| 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) (45) | 8/19/2022 | 12.80% | SF+ | 7.25% | 8/19/2027 | 198 | 189 | 196 | |||||||
| Secured Debt | (9) | 8/19/2022 | 12.88% | SF+ | 7.25% | 8/19/2027 | 1,734 | 1,707 | 1,720 | |||||||
| 1,896 | 1,916 | |||||||||||||||
| Purge Rite, LLC | (10) | HVAC Flushing and Filtration Services | ||||||||||||||
| Secured Debt | (9) (37) | 10/2/2023 | SF+ | 8.00% | 10/2/2028 | — | (19) | (19) | ||||||||
| Secured Debt | (9) | 10/2/2023 | 13.70% | SF+ | 8.00% | 10/2/2028 | 3,906 | 3,813 | 3,813 | |||||||
| Preferred Equity | 10/2/2023 | 1,302,083 | 1,302 | 1,302 | ||||||||||||
| 5,096 | 5,096 | |||||||||||||||
| RA Outdoors LLC | (10) | Software Solutions Provider for Outdoor Activity Management | ||||||||||||||
| Secured Debt | (9) (32) | 4/8/2021 | 12.22% | SF+ | 6.75% | 4/8/2026 | 796 | 789 | 745 | |||||||
| Secured Debt | (9) | 4/8/2021 | 12.21% | SF+ | 6.75% | 4/8/2026 | 12,917 | 12,829 | 12,089 | |||||||
| 13,618 | 12,834 | |||||||||||||||
| Research Now Group, Inc. and Survey Sampling International, LLC | (11) | Provider of Outsourced Online Surveying | ||||||||||||||
| Secured Debt | (9) | 12/29/2017 | 11.14% | SF+ | 5.50% | 12/20/2024 | 9,691 | 9,691 | 7,237 | |||||||
| Richardson Sales Solutions | (10) | Business Services | ||||||||||||||
| Secured Debt | (9) (34) | 8/24/2023 | 18.47% | SF+ | 6.50% | 8/24/2028 | 833 | 781 | 818 | |||||||
| Secured Debt | (9) | 8/24/2023 | 11.88% | SF+ | 6.50% | 8/24/2028 | 10,553 | 10,261 | 10,362 | |||||||
| 11,042 | 11,180 | |||||||||||||||
| Roof Opco, LLC | (10) | Residential Re-Roofing/Repair | ||||||||||||||
| Secured Debt | (9) (37) | 8/27/2021 | SF+ | 6.50% | 8/27/2026 | — | (10) | — | ||||||||
| Secured Debt | (9) | 8/27/2021 | 12.16% | SF+ | 6.50% | 8/27/2026 | 4,219 | 4,150 | 4,142 | |||||||
| Secured Debt | (9) | 8/27/2021 | 14.16% | SF+ | 8.50% | 8/27/2026 | 4,219 | 4,150 | 4,082 | |||||||
| 8,290 | 8,224 | |||||||||||||||
| Rug Doctor, LLC. | (10) | Carpet Cleaning Products and Machinery | ||||||||||||||
| Secured Debt | (9) | 7/16/2021 | 13.54% | SF+ | 6.00% | 2.00% | 11/16/2025 | 6,410 | 6,389 | 6,383 | ||||||
| Secured Debt | (9) | 7/16/2021 | 13.54% | SF+ | 6.00% | 2.00% | 11/16/2025 | 9,022 | 8,991 | 8,984 | ||||||
| 15,380 | 15,367 | |||||||||||||||
| Slick Innovations, LLC | Text Message Marketing Platform | |||||||||||||||
| Secured Debt | 9/13/2018 | 14.00% | 12/22/2027 | 2,860 | 2,777 | 2,860 | ||||||||||
| Common Stock | 9/13/2018 | 17,500 | 114 | 600 | ||||||||||||
| 2,891 | 3,460 | |||||||||||||||
| South Coast Terminals Holdings, LLC | (10) | Specialty Toll Chemical Manufacturer | ||||||||||||||
| Secured Debt | (9) | 12/10/2021 | 11.46% | SF+ | 6.00% | 12/13/2026 | 38 | 34 | 34 | |||||||
| Secured Debt | (9) | 12/10/2021 | 11.70% | SF+ | 6.00% | 12/13/2026 | 2,979 | 2,943 | 2,979 | |||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Equity | 12/10/2021 | 60,606 | 61 | 59 | ||||||||||||
| 3,038 | 3,072 | |||||||||||||||
| SPAU Holdings, LLC | (10) | Digital Photo Product Provider | ||||||||||||||
| Secured Debt | (9) (37) | 7/1/2022 | SF+ | 8.00% | 7/1/2027 | — | (14) | — | ||||||||
| Secured Debt | (9) | 7/1/2022 | 13.72% | SF+ | 8.00% | 7/1/2027 | 4,925 | 4,857 | 4,925 | |||||||
| Common Stock | 7/1/2022 | 200,000 | 200 | 160 | ||||||||||||
| 5,043 | 5,085 | |||||||||||||||
| Tex Tech Tennis, LLC | (10) | Sporting Goods & Textiles | ||||||||||||||
| Preferred Equity | (23) | 7/7/2021 | 1,000,000 | 1,000 | 2,840 | |||||||||||
| The Affiliati Network, LLC | Performance Marketing Solutions | |||||||||||||||
| Secured Debt | 8/9/2021 | 13.00% | 8/9/2026 | 40 | 37 | 37 | ||||||||||
| Secured Debt | 8/9/2021 | 13.00% | 8/9/2026 | 1,880 | 1,858 | 1,841 | ||||||||||
| Preferred Stock | 9/1/2023 | 43,027 | 43 | 43 | ||||||||||||
| Preferred Stock | (8) | 8/9/2021 | 320,000 | 1,600 | 1,600 | |||||||||||
| 3,538 | 3,521 | |||||||||||||||
| U.S. TelePacific Corp. | (11) | Provider of Communications and Managed Services | ||||||||||||||
| Secured Debt | (9) (14) | 6/1/2023 | 12.53% | SF+ | 7.15% | 6.00% | 5/2/2027 | 6,802 | 2,623 | 2,438 | ||||||
| Secured Debt | (14) | 6/1/2023 | 5/2/2027 | 692 | 15 | — | ||||||||||
| 2,638 | 2,438 | |||||||||||||||
| USA DeBusk LLC | (10) | Provider of Industrial Cleaning Services | ||||||||||||||
| Secured Debt | (9) | 10/22/2019 | 11.46% | SF+ | 6.00% | 9/8/2026 | 12,405 | 12,308 | 12,405 | |||||||
| Secured Debt | (9) | 7/19/2023 | 11.96% | SF+ | 6.50% | 9/8/2026 | 4,825 | 4,742 | 4,825 | |||||||
| Secured Debt | (9) | 11/21/2023 | 11.96% | SF+ | 6.50% | 9/8/2026 | 2,515 | 2,468 | 2,515 | |||||||
| 19,518 | 19,745 | |||||||||||||||
| UserZoom Technologies, Inc. | (10) | Provider of User Experience Research Automation Software | ||||||||||||||
| Secured Debt | (9) | 1/11/2023 | 12.99% | SF+ | 7.50% | 4/5/2029 | 3,000 | 2,923 | 3,000 | |||||||
| Vistar Media, Inc. | (10) | Operator of Digital Out-of-Home Advertising Platform | ||||||||||||||
| Preferred Stock | 4/3/2019 | 70,207 | 767 | 2,180 | ||||||||||||
| Vitesse Systems | (10) | Component Manufacturing and Machining Platform | ||||||||||||||
| Secured Debt | (9) | 12/22/2023 | 12.63% | SF+ | 7.00% | 12/22/2028 | 12,500 | 12,193 | 12,193 | |||||||
| VORTEQ Coil Finishers, LLC | (10) | Specialty Coating of Aluminum and Light-Gauge Steel | ||||||||||||||
| Common Equity | (8) | 11/30/2021 | 769,231 | 769 | 1,911 | |||||||||||
| Wall Street Prep, Inc. | (10) | Financial Training Services | ||||||||||||||
| Secured Debt | (9) (37) | 7/19/2021 | SF+ | 7.00% | 7/19/2026 | — | (5) | (5) | ||||||||
| Secured Debt | (9) | 7/19/2021 | 12.54% | SF+ | 7.00% | 7/19/2026 | 4,654 | 4,600 | 4,654 | |||||||
| Common Stock | 7/19/2021 | 500,000 | 500 | 910 | ||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,095 | 5,559 | ||||||||||||||
| Watterson Brands, LLC | (10) | Facility Management Services | |||||||||||||
| Secured Debt | (9) (41) | 12/17/2021 | 11.50% | SF+ | 6.00% | 12/17/2026 | 253 | 249 | 253 | ||||||
| Secured Debt | (9) | 12/17/2021 | 11.50% | SF+ | 6.00% | 12/17/2026 | 53 | 47 | 53 | ||||||
| Secured Debt | (9) | 12/17/2021 | 11.50% | SF+ | 6.00% | 12/17/2026 | 2,166 | 2,146 | 2,166 | ||||||
| Secured Debt | (9) | 12/17/2021 | 11.50% | SF+ | 6.00% | 12/17/2026 | 1,955 | 1,936 | 1,955 | ||||||
| 4,378 | 4,427 | ||||||||||||||
| West Star Aviation Acquisition, LLC | (10) | Aircraft, Aircraft Engine and Engine Parts | |||||||||||||
| Secured Debt | (9) (42) | 3/1/2022 | 11.34% | SF+ | 6.00% | 3/1/2028 | 665 | 654 | 665 | ||||||
| Secured Debt | (9) | 3/1/2022 | 11.35% | SF+ | 6.00% | 3/1/2028 | 2,948 | 2,907 | 2,947 | ||||||
| Secured Debt | (9) | 11/3/2023 | 11.35% | SF+ | 6.00% | 3/1/2028 | 1,467 | 1,438 | 1,467 | ||||||
| Common Stock | 3/1/2022 | 200,000 | 200 | 390 | |||||||||||
| 5,199 | 5,469 | ||||||||||||||
| Winter Services LLC | (10) | Provider of Snow Removal and Ice Management Services | |||||||||||||
| Secured Debt | (9) (35) | 11/19/2021 | 12.64% | SF+ | 7.00% | 11/19/2026 | 2,778 | 2,745 | 2,778 | ||||||
| Secured Debt | (9) | 11/19/2021 | 12.66% | SF+ | 7.00% | 11/19/2026 | 2,583 | 2,528 | 2,583 | ||||||
| Secured Debt | (9) | 11/19/2021 | 12.66% | SF+ | 7.00% | 11/19/2026 | 11,625 | 11,479 | 11,625 | ||||||
| 16,752 | 16,986 | ||||||||||||||
| World Micro Holdings, LLC | Supply Chain Management | ||||||||||||||
| Secured Debt | 12/12/2022 | 13.00% | 12/12/2027 | 1,627 | 1,601 | 1,601 | |||||||||
| Preferred Equity | (8) | 12/12/2022 | 530 | 530 | 530 | ||||||||||
| 2,131 | 2,131 | ||||||||||||||
| Xenon Arc, Inc. | (10) | Tech-enabled Distribution Services to Chemicals and Food Ingredients Primary Producers | |||||||||||||
| Secured Debt | (9) (37) | 12/17/2021 | SF+ | 5.25% | 12/17/2026 | — | (5) | — | |||||||
| Secured Debt | (9) | 12/17/2021 | 11.22% | SF+ | 5.75% | 12/17/2027 | 1,188 | 1,163 | 1,188 | ||||||
| Secured Debt | (9) | 12/17/2021 | 11.25% | SF+ | 5.75% | 12/17/2027 | 2,352 | 2,321 | 2,352 | ||||||
| 3,479 | 3,540 | ||||||||||||||
| YS Garments, LLC | (11) | Designer and Provider of Branded Activewear | |||||||||||||
| Secured Debt | (9) | 8/22/2018 | 13.00% | SF+ | 7.50% | 8/9/2026 | 5,584 | 5,485 | 5,110 | ||||||
| Zips Car Wash, LLC | (10) | Express Car Wash Operator | |||||||||||||
| Secured Debt | (9) (33) | 2/11/2022 | 12.71% | SF+ | 7.25% | 3/1/2024 | 2,356 | 2,352 | 2,234 | ||||||
| Secured Debt | (9) (33) | 2/11/2022 | 12.71% | SF+ | 7.25% | 3/1/2024 | 591 | 589 | 555 | ||||||
| 2,941 | 2,789 | ||||||||||||||
| Subtotal Non-Control/Non-Affiliate Investments (120.2% of net assets at fair value) | $763,781 | $747,972 | |||||||||||||
| Total Portfolio Investments, December 31, 2023 (175.6% of net assets at fair value) | $1,038,318 | $1,092,895 | |||||||||||||
| Money market funds (included in cash and cash equivalents) (16) | |||||||||||||||
| Fidelity Government Portfolio Class III Fund (38) | $3,188 | $3,188 | |||||||||||||
| Portfolio Company (1) (20) · Business Description · Type of Investment (2) (3) (15) · Investment Date (22) · Shares/Units · Total Rate · Reference Rate and Spread (25) · PIK Rate (19) · Maturity Date · Principal (4) · Cost (4) · Fair Value (18) | ||
|---|---|---|
| First American Treasury Obligations Fund Class Z (39) | 17,656 | 17,656 |
| Total money market funds | $20,844 | $20,844 |
(1)All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered as security for one of the Company’s Credit Facilities.
(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,95% of these floating rate loans (based on the par amount) contain LIBOR or SOFR floors which range between 0.75% and 2.00%, with a weighted-average floor of 1.17%.
(10)Private Loan portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Private Loan portfolio investments.
(11)Middle Market 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)Money market fund interests included in cash and cash equivalents.
(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 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 December 31, 2023.
(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)Investment date represents the date of initial investment in the security position.
(23)Shares/Units represent ownership in a related Real Estate or HoldCo entity.
(24)Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated.
(25)A majority of the variable rate loans in the Company’s Investment Portfolio bear interest at a rate that may be determined by reference to either LIBOR (“L”), 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 rate, plus the Adjustment, exceeds the stated floor rate, as applicable. As of December 31, 2023, SOFR based contracts in the portfolio had Adjustments ranging from 0.10% to 0.43%.
(26)As of December 31, 2023, borrowings under the loan facility bear interest at SOFR+7.00% (Floor 1.00%). 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 December 31, 2023.
(27)Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit.
(28)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+10.00%. RLOC 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 December 31, 2023.
(29)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+7.00% (Floor 1.50%). RLOC 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 December 31, 2023.
(30)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+8.00% (Floor 1.00%). RLOC 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 December 31, 2023.
(31)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+8.00% (Floor 2.00%). RLOC 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 December 31, 2023.
(32)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+6.75% (Floor 1.00%). RLOC 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 December 31, 2023.
(33)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+7.25% (Floor 1.00%). 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 December 31, 2023.
(34)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+6.50% (Floor 2.00%). RLOC 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 December 31, 2023.
(35)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+7.00% (Floor 1.00%). RLOC 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 December 31, 2023.
(36)Index based floating interest rate is subject to contractual maximum base rate of 3.00%.
(37)The position is unfunded and no interest income is being earned as of December 31, 2023. The position may earn a nominal unused facility fee on committed amounts.
(38)Effective yield as of December 31, 2023 was approximately 5.25% on the Fidelity Government Portfolio Class III Fund.
(39)Effective yield as of December 31, 2023 was approximately 5.23% on the First American Treasury Obligations Fund Class Z.
(40)Warrants are presented in equivalent shares/units with a strike price of $1.00 per share/unit.
(41)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+6.00% (Floor 1.00%). RLOC 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 December 31, 2023.
(42)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+6.00% (Floor 0.75%). 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 December 31, 2023.
(43)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+5.75% (Floor 1.00%). 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 December 31, 2023.
(44)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+7.00% (Floor 2.00%). RLOC 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 December 31, 2023.
(45)As of December 31, 2023, borrowings under the loan facility bore interest at SOFR+7.25% (Floor 1.00%). RLOC 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 December 31, 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.