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Consolidated Schedule of Investments In and Advances to Affiliates

9 Months Ended

Sep. 30, 2025

Investments in and Advances to Affiliates [Abstract]

Consolidated Schedule of Investments In and Advances to Affiliates

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2024 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2025 Fair Value (13)
Control Investments
BDB Holdings, LLC															Preferred Equity						(7)						$	—					$	(1,910)					$	—					$	12,610					$	—					$	1,911					$	10,699
			12.00%												Secured Debt (12)						(7)						—						—						24						—						782						—						782
Copper Trail Fund Investments															LP Interests (CTMH, LP)						(9)						—						—						—						530						—						15						515
GRT Rubber Technologies LLC			10.41%			SF+			6.00%						Secured Debt (12)						(8)						—						(4)						127						1,550						4						4						1,550
			12.41%			SF+			8.00%						Secured Debt						(8)						—						(37)						1,922						19,944						37						37						19,944
															Member Units						(8)						—						460						2,108						22,600						460						—						23,060
Harris Preston Fund Investments															LP Interests (2717 MH, L.P.)						(8)						5,295						(4,829)						—						8,740						3,875						10,890						1,725
Volusion, LLC			10.00%												Secured Debt						(8)						—						—						68						900						—						—						900
															Preferred Member Units						(8)						—						—						—						—						—						—						—
															Preferred Member Units						(8)						10						(694)						—						3,004						9						1,435						1,578
															Preferred Member Units						(8)						—						—						—						—						—						—						—
															Common Stock						(8)						—						—						—						—						—						—						—
Other Amounts related to investments transferred to or from other 1940 Act classification during the period																											—						—						—						—						—						—						—
Total Control investments																											$	5,305					$	(7,014)					$	4,249					$	69,878					$	5,167					$	14,292					$	60,753
Affiliate Investments
American Nuts, LLC															Preferred Equity						(9)						$	—					$	(806)					$	—					$	—					$	2,556					$	806					$	1,750
			12.94%			SF+			8.50%			12.94%			Secured Debt						(9)						—						—						144						—						2,252						—						2,252
			12.94%			SF+			8.50%			12.94%			Secured Debt						(9)						—						—						144						—						2,252						—						2,252
Analytical Systems Keco Holdings, LLC															Secured Debt						(8)						—						—						—						—						—						—						—
			14.50%												Secured Debt						(8)						—						—						127						1,012						2						37						977
															Preferred Member Units						(8)						—						—						—						—						—						—						—
															Preferred Member Units						(8)						—						60						—						1,330						60						—						1,390
															Warrants						(8)						—						—						—						—						—						—						—
Barfly Ventures, LLC															Member Units						(5)						—						317						368						1,953						317						—						2,270
Batjer TopCo, LLC															Secured Debt (12)						(8)						—						—						1						50						—						50						—
															Secured Debt (12)						(8)						—						—						2						30						—						30						—
			10.00%												Secured Debt						(8)						—						—						95						1,165						4						70						1,099
															Preferred Stock						(8)						—						400						65						570						400						—						970
Brewer Crane Holdings, LLC			14.41%			SF+			10.00%						Secured Debt						(9)						—						—						137						1,254						—						—						1,254
															Preferred Member Units						(9)						—						(320)						23						1,170						—						320						850
															Preferred Member Units						(9)						—						—						3						—						81						—						81
Centre Technologies Holdings, LLC						SF+			8.00%						Secured Debt (12)						(8)						—						—						2						—						—						—						—
			12.41%			SF+			8.00%						Secured Debt						(8)						—						(8)						659						6,384						8						276						6,116
															Preferred Member Units						(8)						—						2,200						23						3,110						2,200						—						5,310
Chamberlin Holding LLC						SF+			6.00%						Secured Debt (12)						(8)						—						(17)						18						—						17						17						—
			12.49%			SF+			8.00%						Secured Debt						(8)						—						3						419						3,905						1,200						—						5,105

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2024 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2025 Fair Value (13)
															Member Units						(8)						—						(10)						1,471						8,280						—						10						8,270
															Member Units						(8)						—						55						17						888						55						—						943
Charps, LLC															Preferred Member Units						(5)						—						(80)						134						3,900						—						80						3,820
Clad-Rex Steel, LLC															Secured Debt (12)						(5)						—						—						—						—						—						—						—
															Secured Debt						(5)						—						(9)						98						1,690						—						1,690						—
			10.00%												Secured Debt						(5)						—						24						45						—						2,450						40						2,410
			10.00%												Secured Debt						(5)						—						—						18						243						—						8						235
															Member Units						(5)						—						780						289						2,750						780						—						3,530
															Member Units						(5)						—						80						—						236						81						—						317
Cody Pools, Inc.															Secured Debt (12)						(8)						—						5						37						—						157						157						—
			12.50%												Secured Debt						(8)						—						6						604						6,598						629						500						6,727
															Preferred Member Units						(8)						—						(330)						428						16,950						—						330						16,620
Colonial Electric Company LLC															Secured Debt (12)						(6)						—						—						2						—						—						—						—
			12.00%												Secured Debt						(6)						—						(18)						293						3,578						18						1,401						2,195
															Preferred Member Units						(6)						—						220						818						3,390						220						—						3,610
Compass Systems & Sales, LLC															Secured Debt						(5)						—						—						3						(16)						3						—						(13)
			13.50%												Secured Debt						(5)						—						23						459						4,201						43						—						4,244
															Preferred Equity						(5)						—						(60)						45						1,860						—						60						1,800
Datacom, LLC			7.50%												Secured Debt						(8)						—						—						6						55						85						65						75
			10.00%												Secured Debt						(8)						—						(250)						82						878						15						272						621
															Preferred Member Units						(8)						—						(70)						—						30						40						70						—
Digital Products Holdings LLC			14.31%			SF+			10.00%						Secured Debt						(5)						—						—						337						3,105						8						164						2,949
															Preferred Member Units						(5)						—						—						38						2,459						—						—						2,459
Direct Marketing Solutions, Inc.			14.00%												Secured Debt						(9)						—						(1)						7						—						181						1						180
			14.00%												Secured Debt						(9)						—						(9)						492						4,668						9						176						4,501
															Preferred Stock						(9)						—						290						—						4,480						290						—						4,770
DMA Industries, LLC			12.00%												Secured Debt						(7)						—						2						13						138						2						—						140
			12.00%												Secured Debt						(7)						—						28						384						4,161						39						600						3,600
															Preferred Equity						(7)						—						620						—						1,486						620						—						2,106
			15.00%									15.00%			Preferred Equity						(7)						—						320						94						810						414						—						1,224
Flame King Holdings, LLC															Preferred Equity						(9)						—						3,050						1,968						8,980						3,050						—						12,030
			12.00%												Secured Debt						(9)						—						308						533						—						16,500						—						16,500
															Secured Debt						(9)						—						—						3						—						—						—						—
Freeport Financial Funds															LP Interests (Freeport First Lien Loan Fund III LP)						(5)						—						(82)						—						1,263						—						1,070						193
Gamber-Johnson Holdings, LLC						SF+			7.50%						Secured Debt (12)						(5)						—						—						1						—						—						—						—
			11.50%			SF+			7.50%						Secured Debt (12)						(5)						—						(31)						1,617						18,282						31						631						17,682
															Member Units						(5)						—						480						1,286						28,690						480						—						29,170
GFG Group, LLC															Secured Debt						(5)						—						(16)						57						2,046						—						2,046						—
															Secured Debt						(5)						—						—						46						—						—						—						—
			8.00%												Secured Debt						(5)						—						14						74						—						3,513						—						3,513
															Preferred Member Units						(5)						—						100						182						2,640						100						—						2,740
Gulf Publishing Holdings, LLC						SF+			9.50%						Secured Debt						(8)						—						—						—						—						—						—						—

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2024 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2025 Fair Value (13)
															Secured Debt						(8)						(58)						202						—						378						156						534						—
															Preferred Equity						(8)						(1,400)						1,400						—						—						1,400						1,400						—
															Member Units						(8)						(920)						920						—						—						920						920						—
HPEP 3, L.P.															LP Interests (HPEP 3, L.P.) (12)						(8)						—						194						—						4,472						194						534						4,132
IG Investor, LLC			13.00%												Secured Debt (12)						(6)						—						16						46						379						21						—						400
			13.00%												Secured Debt						(6)						—						143						905						8,693						183						110						8,766
															Common Equity						(6)						—						1,130						—						4,060						1,130						—						5,190
Independent Pet Partners Intermediate Holdings, LLC															Common Equity						(6)						—						(500)						—						7,290						—						500						6,790
Integral Energy Services			12.05%			SF+			7.50%						Secured Debt						(8)						—						(114)						1,436						14,872						48						864						14,056
			10.00%									10.00%			Preferred Equity						(8)						—						60						23						535						83						—						618
															Common Stock						(8)						—						170						—						640						170						—						810
			10.00%									10.00%			Preferred Equity						(8)						—						97						—						—						230						—						230
Kickhaefer Manufacturing Company, LLC			12.00%												Secured Debt						(5)						—						—						315						3,741						4						400						3,345
			9.00%												Secured Debt						(5)						—						—						67						982						—						9						973
															Preferred Equity						(5)						—						920						—						3,060						920						—						3,980
															Member Units						(5)						—						13						19						678						13						1						690
KMS, LLC						SF+			9.75%						Secured Debt						(5)						—						409						—						829						—						829						—
						SF+			9.75%						Secured Debt						(5)						1						3,202						—						5,973						—						5,973						—
						SF+			9.75%						Secured Debt						(5)						—						—						9						562						—						562						—
						SF+			9.75%						Secured Debt						(5)						—						—						9						550						—						550						—
						SF+			9.75%						Secured Debt						(5)						—						—						4						—						—						—						—
			12.50%									12.50%			Secured Debt (12)						(5)						—						—						132						—						1,432						—						1,432
			12.50%									12.50%			Secured Debt						(5)						—						—						115						—						1,504						244						1,260
															Preferred Equity						(5)						—						308						—						—						6,421						1						6,420
Mills Fleet Farm Group, LLC															Preferred Equity						(5)						—						(1,925)						665						11,166						669						1,925						9,910
			9.78%			SF+			5.50%			9.78%			Secured Debt						(5)						—						—						150						—						2,285						—						2,285
			9.70%			SF+			5.50%			9.70%			Secured Debt						(5)						—						—						17						—						1,349						—						1,349
Mystic Logistics Holdings, LLC															Secured Debt (12)						(6)						—						—						1						—						—						—						—
			10.00%												Secured Debt						(6)						—						(1)						110						1,436						1						1						1,436
															Common Stock						(6)						—						110						716						6,590						110						—						6,700
Nello Industries Investco, LLC						SF+			6.50%						Secured Debt						(5)						—						—						12						(12)						12						—						—
			12.50%												Secured Debt						(5)						—						—						722						6,619						631						—						7,250
															Preferred Stock						(5)						58						1,410						438						3,890						1,469						289						5,070
NexRev LLC															Secured Debt						(8)						—						—						—						—						—						—						—
															Secured Debt						(8)						—						(3)						38						2,453						3						2,456						—
															Preferred Member Units						(8)						—						90						113						2,970						90						—						3,060
NuStep, LLC			10.91%			SF+			6.50%						Secured Debt						(5)						—						—						70						900						—						350						550
			12.00%												Secured Debt						(5)						—						—						420						4,610						—						—						4,610
															Preferred Member Units						(5)						—						160						—						2,890						160						—						3,050
															Preferred Member Units						(5)						—						—						—						1,500						—						—						1,500
Oneliance, LLC															Preferred Stock						(7)						—						170						14						640						170						—						810
Orttech Holdings, LLC						SF+			11.00%						Secured Debt (12)						(5)						—						(1)						1						—						1						1						—

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2024 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2025 Fair Value (13)
			15.41%			SF+			11.00%						Secured Debt						(5)						—						(18)						643						5,490						18						318						5,190
															Preferred Stock						(5)						—						—						45						3,360						—						—						3,360
Pinnacle TopCo, LLC															Secured Debt (12)						(8)						—						(1)						3						—						1						1						—
			13.00%												Secured Debt						(8)						—						(29)						725						7,160						29						229						6,960
															Preferred Equity						(8)						—						330						348						4,590						330						—						4,920
RA Outdoors LLC			11.25%			SF+			6.75%			11.25%			Secured Debt						(8)						—						(143)						114						1,215						77						181						1,111
			11.25%			SF+			6.75%			11.25%			Secured Debt						(8)						—						(1,500)						1,199						12,710						814						1,905						11,619
						SF+			6.75%						Secured Debt						(8)						—						—						—						—						—						—						—
															Common Equity						(8)						—						—						—						—						—						—						—
Robbins Bros. Jewelry, Inc.															Secured Debt						(9)						—						—						3						(7)						—						5						(12)
			12.50%									10.00%			Secured Debt						(9)						—						17						—						1,617						—						45						1,572
															Preferred Equity						(9)						—						—						—						—						—						—						—
SI East, LLC			11.85%												Secured Debt (12)						(7)						—						(1)						73						750						1						1						750
			12.78%												Secured Debt						(7)						—						12						2,193						22,554						—						209						22,345
															Preferred Member Units						(7)						—						210						104						4,550						210						—						4,760
Student Resource Center, LLC			8.50%									8.50%			Secured Debt						(6)						—						(331)						—						1,826						—						331						1,495
															Preferred Equity						(6)						—						—						—						—						—						—						—
			8.50%									8.50%			Secured Debt						(6)						—						620						14						227						634						—						861
Tedder Industries, LLC			12.00%									12.00%			Secured Debt						(9)						—						56						—						412						—						185						227
			12.00%									12.00%			Secured Debt						(9)						—						(260)						—						901						—						260						641
															Preferred Member Units						(9)						—						—						—						—						—						—						—
															Preferred Member Units						(9)						—						—						—						—						—						—						—
															Preferred Member Units						(9)						—						—						—						—						—						—						—
Trantech Radiator Topco, LLC															Secured Debt (12)						(7)						—						—						—						—						—						—						—
			13.50%												Secured Debt						(7)						—						—						208						1,962						5						—						1,967
															Common Stock						(7)						—						1,200						22						2,140						1,200						—						3,340
Urgent DSO LLC			13.50%												Secured Debt						(5)						—						—						235						2,145						10						—						2,155
			9.00%									9.00%			Preferred Equity						(5)						—						—						74						1,080						74						—						1,154
Victory Energy Operations, LLC															Secured Debt (12)						(8)						—						—						10						(5)						273						277						(9)
			13.00%												Secured Debt						(8)						—						—						799						7,529						34						—						7,563
															Preferred Equity						(8)						—						61						69						3,644						61						35						3,670
VVS Holdco LLC						SF+			6.00%						Secured Debt (12)						(5)						—						—						3						—						—						—						—
			11.50%												Secured Debt						(5)						—						—						577						6,366						31						320						6,077
															Preferred Equity						(5)						—						—						25						3,060						—						—						3,060

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2024 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2025 Fair Value (13)
Other Amounts related to investments transferred to or from other 1940 Act classification during the period																											—						(3,611)						(44)						(7,914)						—						—						—
Total Affiliate investments																											$	(2,319)					$	12,460					$	28,220					$	351,360					$	66,743					$	33,732					$	392,285

_________________________

(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.

(2)Represents the total amount of interest, fees and dividends credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred to or from other 1940 Act classifications during the period.”

(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.

(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.

(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of September 30, 2025 for Affiliate investments located in this region was $151,989. This represented 20.7% of net assets as of September 30, 2025.

(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of September 30, 2025 for Affiliate investments located in this region was $37,443. This represented 5.1% of net assets as of September 30, 2025.

(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of September 30, 2025 for Control investments located in this region was $11,481. This represented 1.6% of net assets as of September 30, 2025. The fair value as of September 30, 2025 for Affiliate investments located in this region was $41,042. This represented 5.6% of net assets as of September 30, 2025.

(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of September 30, 2025 for Control investments located in this region was $48,757. This represented 6.6% of net assets as of September 30, 2025. The fair value as of September 30, 2025 for Affiliate investments located in this region was $112,963. This represented 15.4% of net assets as of September 30, 2025.

(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of September 30, 2025 for Control investments located in this region was $515. This represented 0.1% of net assets as of September 30, 2025. The fair value as of September 30, 2025 for Affiliate investments located in this region was $48,848. This represented 6.7% of net assets as of September 30, 2025.

(10)All of the Fund’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.

(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.

(12)Investment has an unfunded commitment as of September 30, 2025 (see Note I — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments.

(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2023 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2024 Fair Value (13)
Control Investments
Copper Trail Fund Investments															LP Interests (CTMH, LP)						(9)						$	—					$	—					$	—					$	568					$	—					$	38					$	530
GRT Rubber Technologies LLC			11.35%			SF+			6.00%						Secured Debt (12)						(8)						—						4						123						1,182						368						—						1,550
			13.35%			SF+			8.00%						Secured Debt						(8)						—						(37)						2,080						19,944						37						37						19,944
															Member Units						(8)						—						—						93						21,890						—						—						21,890
Harris Preston Fund Investments															LP Interests (2717 MH, L.P.)						(8)						57						2,769						278						6,050						2,826						57						8,819
Volusion, LLC			10.00%												Secured Debt						(8)						—						—						69						900						—						—						900
															Preferred Member Units						(8)						—						—						—						—						—						—						—
															Preferred Member Units						(8)						—						1,895						—						3,110						1,895						1,805						3,200
															Preferred Member Units						(8)						—						—						—						—						—						—						—
															Common Stock						(8)						—						—						—						—						—						—						—
Other Amounts related to investments transferred to or from other 1940 Act classification during the period																											—						—						—						—						—						—						—
Total Control investments																											$	57					$	4,631					$	2,643					$	53,644					$	5,126					$	1,937					$	56,833
Affiliate Investments
Analytical Systems Keco Holdings, LLC															Secured Debt (12)						(8)						—						—						4						54						—						54						—
			13.75%												Secured Debt						(8)						—						—						138						1,020						79						75						1,024
															Preferred Member Units						(8)						—						—						—						—						—						—						—
															Preferred Member Units						(8)						—						220						—						1,210						220						—						1,430
															Warrants						(8)						—						—						—						—						—						—						—
Barfly Ventures, LLC															Member Units						(5)						—						407						—						1,380						407						—						1,787
Batjer TopCo, LLC			10.00%												Secured Debt (12)						(8)						—						(1)						3						—						50						1						49
			10.00%												Secured Debt (12)						(8)						—						—						2						30						—						—						30
			10.00%												Secured Debt						(8)						—						(15)						93						1,175						4						15						1,164
															Preferred Stock						(8)						—						(110)						71						680						—						110						570
Brewer Crane Holdings, LLC			15.35%			SF+			10.00%						Secured Debt						(9)						—						—						158						1,374						4						93						1,285
															Preferred Member Units						(9)						—						(40)						23						1,400						—						40						1,360
Centre Technologies Holdings, LLC						SF+			10.00%						Secured Debt (12)						(8)						—						—						2						—						—						—						—
			15.35%			SF+			10.00%						Secured Debt						(8)						—						54						550						—						5,494						378						5,116
															Secured Debt						(8)						—						(29)						84						4,394						—						4,394						—
															Preferred Member Units						(8)						—						230						23						2,760						230						—						2,990
Chamberlin Holding LLC						SF+			6.00%						Secured Debt (12)						(8)						—						(17)						18						—						17						17						—
			13.36%			SF+			8.00%						Secured Debt						(8)						—						(1)						401						3,905						1						1						3,905
															Member Units						(8)						—						300						969						7,330						300						—						7,630
															Member Units						(8)						—						90						17						715						90						—						805
Charps, LLC															Preferred Member Units						(5)						—						(20)						121						3,920						—						20						3,900
Clad-Rex Steel, LLC															Secured Debt (12)						(5)						—						—						1						—						—						—						—
			10.00%												Secured Debt						(5)						—						37						176						2,103						30						350						1,783
			10.00%												Secured Debt						(5)						—						—						19						251						—						7						244
															Member Units						(5)						—						910						146						1,300						910						—						2,210
															Member Units						(5)						—						(45)						—						282						—						45						237
Cody Pools, Inc.															Secured Debt (12)						(8)						—						1						6						—						236						236						—

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2023 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2024 Fair Value (13)
			12.50%												Secured Debt						(8)						—						(6)						660						7,111						5						404						6,712
															Preferred Member Units						(8)						—						(630)						392						18,120						—						630						17,490
Colonial Electric Company LLC															Secured Debt (12)						(6)						—						—						2						—						—						—						—
			12.00%												Secured Debt						(6)						—						73						469						5,407						105						1,456						4,056
															Preferred Member Units						(6)						—						(360)						360						600						—						600						—
															Preferred Member Units						(6)						—						1,360						560						1,920						1,360						—						3,280
Compass Systems & Sales, LLC															Secured Debt						(5)						—						—						18						—						583						600						(17)
			13.50%												Secured Debt						(5)						—						—						461						4,175						19						—						4,194
															Preferred Equity						(5)						—						117						45						1,863						117						—						1,980
Datacom, LLC			7.50%												Secured Debt						(8)						—						—						3						49						50						60						39
			10.00%												Secured Debt						(8)						—						7						86						844						24						23						845
															Preferred Member Units						(8)						—						30						—						10						30						—						40
Digital Products Holdings LLC			15.25%			SF+			10.00%						Secured Debt						(5)						—						—						410						3,673						12						482						3,203
															Preferred Member Units						(5)						—						—						38						2,459						—						—						2,459
Direct Marketing Solutions, Inc.															Secured Debt						(9)						—						(1)						10						217						301						518						—
			14.00%												Secured Debt						(9)						—						(11)						529						5,002						11						262						4,751
															Preferred Stock						(9)						—						(360)						—						5,180						—						360						4,820
Flame King Holdings, LLC															Preferred Equity						(9)						—						1,970						808						6,970						1,970						—						8,940
Freeport Financial Funds															LP Interests (Freeport First Lien Loan Fund III LP)						(5)						—						193						38						3,705						193						2,005						1,893
Gamber-Johnson Holdings, LLC						SF+			7.00%						Secured Debt (12)						(5)						—						—						1						—						—						—						—
			10.00%			SF+			7.00%						Secured Debt						(5)						—						(50)						1,036						13,520						50						1,450						12,120
															Member Units						(5)						—						2,660						1,352						24,180						2,660						—						26,840
GFG Group, LLC			8.00%												Secured Debt						(5)						—						(14)						153						2,336						14						304						2,046
															Preferred Member Units						(5)						—						(230)						323						2,870						—						230						2,640
Gulf Publishing Holdings, LLC						SF+			9.50%						Secured Debt (12)						(8)						—						—						—						—						—						—						—
			12.50%									12.50%			Secured Debt						(8)						—						(220)						19						571						—						220						351
															Preferred Equity						(8)						—						(620)						—						620						—						620						—
															Member Units						(8)						—						—						—						—						—						—						—
HPEP 3, L.P.															LP Interests (HPEP 3, L.P.) (12)						(8)						—						247						—						4,225						247						—						4,472
IG Investor, LLC			13.00%												Secured Debt (12)						(6)						—						—						17						(27)						405						—						378
			13.00%												Secured Debt						(6)						—						—						948						9,069						48						330						8,787
															Common Equity						(6)						—						120						—						3,600						120						—						3,720
Independent Pet Partners Intermediate Holdings, LLC															Common Equity						(6)						—						970						—						6,320						970						—						7,290
Integral Energy Services			13.09%			SF+			7.50%						Secured Debt						(8)						—						273						1,633						16,232						342						1,835						14,739
			10.00%									10.00%			Preferred Equity						(8)						—						153						24						350						177						—						527
															Common Stock						(8)						—						450						38						190						450						—						640
Kickhaefer Manufacturing Company, LLC			12.00%												Secured Debt						(5)						—						—						429						4,933						6						800						4,139
			9.00%												Secured Debt						(5)						—						—						66						951						41						8						984
															Preferred Equity						(5)						—						640						—						2,420						640						—						3,060
															Member Units						(5)						—						(60)						24						683						—						60						623
MH Corbin Holding LLC			14.00%												Secured Debt						(5)						—						(871)						139						1,256						—						911						345
															Preferred Member Units						(5)						—						(80)						—						80						—						80						—
															Preferred Member Units						(5)						—						—						—						—						—						—						—

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2023 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2024 Fair Value (13)
Mystic Logistics Holdings, LLC															Secured Debt (12)						(6)						—						—						1						—						—						—						—
			10.00%												Secured Debt						(6)						—						4						110						1,436						—						—						1,436
															Common Stock						(6)						—						(68)						735						6,598						—						68						6,530
Nello Industries Investco, LLC			11.75%			SF+			6.50%						Secured Debt						(5)						—						—						126						—						4,188						600						3,588
			13.50%												Secured Debt						(5)						—						—						293						—						6,609						—						6,609
															Common Equity						(5)						—						—						55						—						3,030						—						3,030
NexRev LLC			10.00%												Secured Debt (12)						(8)						—						—						25						—						790						300						490
			10.00%												Secured Debt						(8)						—						6						198						2,435						18						—						2,453
															Preferred Member Units						(8)						—						870						161						1,590						870						—						2,460
NuStep, LLC			11.85%			SF+			6.50%						Secured Debt						(5)						—						—						83						899						1						—						900
			12.00%												Secured Debt						(5)						—						—						424						4,606						3						—						4,609
															Preferred Member Units						(5)						—						92						—						2,310						350						—						2,660
															Preferred Member Units						(5)						—						20						—						1,290						150						—						1,440
Oneliance, LLC						SF+			10.00%						Secured Debt						(7)						—						7						142						1,339						21						1,360						—
															Preferred Stock						(7)						—						268						—						282						268						—						550
Orttech Holdings, LLC						SF+			11.00%						Secured Debt (12)						(5)						—						(1)						1						—						1						1						—
			16.35%			SF+			11.00%						Secured Debt						(5)						—						(17)						705						5,510						17						37						5,490
															Preferred Stock						(5)						—						(590)						97						4,260						—						590						3,670
Pinnacle TopCo, LLC															Secured Debt (12)						(8)						—						8						4						105						10						115						—
			13.00%												Secured Debt						(8)						—						152						783						7,472						188						400						7,260
															Preferred Equity						(8)						—						1,205						430						3,135						1,205						—						4,340
RA Outdoors LLC			11.59%			SF+			6.75%			11.59%			Secured Debt						(8)						—						(70)						27						745						481						36						1,190
			11.59%			SF+			6.75%			11.59%			Secured Debt						(8)						—						(737)						284						12,089						448						96						12,441
															Common Equity						(8)						—						—						—						—						—						—						—
Robbins Bros. Jewelry, Inc.												10.00%			Secured Debt						(9)						—						—						1						(6)						1						—						(5)
			12.50%									10.00%			Secured Debt						(9)						—						(1,662)						123						3,421						5						1,713						1,713
															Preferred Equity						(9)						—						—						—						—						—						—						—
SI East, LLC			11.75%												Secured Debt (12)						(7)						—						—						64						375						750						375						750
															Secured Debt						(7)						—						(161)						947						18,179						—						18,179						—
			12.63%												Secured Debt						(7)						—						22						1,213						—						22,554						—						22,554
															Preferred Member Units						(7)						—						(1,000)						665						6,390						—						1,000						5,390
Student Resource Center, LLC			8.50%									8.50%			Secured Debt						(6)						—						(1,717)						—						3,543						—						1,717						1,826
															Preferred Equity						(6)						—						—						—						—						—						—						—
			8.50%									8.50%			Secured Debt						(6)						—						—						1						—						223						—						223
Tedder Industries, LLC			12.00%									12.00%			Secured Debt						(9)						—						—						14						432						—						—						432
			12.00%									12.00%			Secured Debt						(9)						—						(2,401)						115						3,565						—						2,401						1,164
															Preferred Member Units						(9)						—						—						—						—						—						—						—
															Preferred Member Units						(9)						—						—						—						—						—						—						—
															Preferred Member Units						(9)						—						—						—						—						—						—						—
Trantech Radiator Topco, LLC															Secured Debt (12)						(7)						—						—						1						—						—						—						—
			13.50%												Secured Debt						(7)						—						15						204						1,980						—						—						1,980
															Common Stock						(7)						—						(800)						22						3,180						—						800						2,380
VVS Holdco LLC						SF+			6.00%						Secured Debt (12)						(5)						—						—						3						—						—						—						—
			11.50%												Secured Debt						(5)						—						—						638						6,926						36						290						6,672

Company			Total Rate			Base Rate			Spread			PIK Rate			Type of Investment (1)(10)(11)						Geography						Amount of Realized Gain/(Loss)						Amount of Unrealized Gain/(Loss)						Amount of Interest, Fees or Dividends Credited to Income (2)						December 31, 2023 Fair Value (13)						Gross Additions (3)						Gross Reductions (4)						September 30, 2024 Fair Value (13)
															Preferred Equity						(5)						—						—						80						3,060						—						—						3,060
Other Amounts related to investments transferred to or from other 1940 Act classification during the period																											—						—						—						(12,834)						—						—						—
Total Affiliate investments																											$	—					$	1,166					$	22,891					$	291,279					$	61,239					$	50,162					$	315,190

___________________________________________________

(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.

(2)Represents the total amount of interest, fees and dividends credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred from other 1940 Act classifications during the period.”

(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.

(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.

(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of September 30, 2024 for Affiliate investments located in this region was $118,398. This represented 19.1% of net assets as of September 30, 2024.

(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of September 30, 2024 for Affiliate investments located in this region was $37,526. This represented 6.1% of net assets as of September 30, 2024.

(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of September 30, 2024 for Affiliate investments located in this region was $33,604. This represented 5.4% of net assets as of September 30, 2024.

(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of September 30, 2024 for Control investments located in this region was $56,303. This represented 9.1% of net assets as of September 30, 2024. The fair value as of September 30, 2024 for Affiliate investments located in this region was $101,202. This represented 16.4% of net assets as of September 30, 2024.

(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of September 30, 2024 for Control investments located in this region was $530. This represented 0.1% of net assets as of September 30, 2024. The fair value as of September 30, 2024 for Affiliate investments located in this region was $24,460. This represented 4.0% of net assets as of September 30, 2024.

(10)All of the Fund’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.

(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.

(12)Investment has an unfunded commitment as of September 30, 2024 (see Note I). The fair value of the investment includes the impact of the fair value of any unfunded commitments.

(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.

X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

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