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v3.24.0.1

Consolidated Schedule of Investments - USD ($) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2023 | Sep. 30, 2023
Altisource S.A.R.L [Member] |  |  |  |  |
% of Net Assets |  | 5.35% | [1],[2],[3] | 5.45% | [4],[5],[6]
Par Amount | [7] | $ 9,731,465 | [2],[3] | $ 9,640,790 | [4],[5]
Fair Value | [8] | 8,088,917 | [2],[3] | 8,012,089 | [4],[5]
Amortized Cost |  | $ 8,810,689 | [2],[3],[9] | $ 8,507,963 | [4],[5],[10]
Arcline FM Holdings, LLC [Member] |  |  |  |  |
% of Net Assets |  | 1.72% | [1],[3] | 1.80% | [4],[6]
Par Amount | [7] | $ 2,672,658 | [3] | $ 2,679,494 | [4]
Fair Value | [8] | 2,611,187 | [3] | 2,644,660 | [4]
Amortized Cost |  | $ 2,587,942 | [3],[9] | $ 2,591,013 | [4],[10]
Be Green Packaging, LLC [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% | [6]
Par Amount | [3],[7] | $ 417 |  | $ 417 | [5]
Fair Value | [8] |  | [3] |  |
Amortized Cost |  | $ 416,250 | [3],[9] | $ 416,250 | [10]
Boostability Seotowncenter, Inc. [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% | [6]
Par Amount | [7] | $ 833,152 | [3] | $ 833,152 | [4]
Fair Value | [8] |  | [3] |  |
Amortized Cost |  | $ 66,475 | [3],[9] | $ 66,475 | [10]
CB&L Associates Holdco I, LLC [Member] |  |  |  |  |
% of Net Assets |  | 3.49% | [1],[3] | 3.53% | [4],[6],[11]
Par Amount | [7] | $ 5,895,967 | [3] | $ 5,916,102 | [4],[11]
Fair Value | [8] | 5,265,836 | [3] | 5,191,380 | [4],[11]
Amortized Cost |  | $ 5,058,947 | [3],[9] | $ 4,990,179 | [4],[10],[11]
Chimera Investment Corp [Member] |  |  |  |  |
% of Net Assets | [3] | 4.08% | [1],[2] | 3.76% | [6],[12]
Par Amount | [3],[7] | $ 280,911 | [2] | $ 280,911 | [10],[12]
Fair Value | [3],[8] | 6,148,008 | [2] | 5,530,624 | [12]
Amortized Cost | [3] | $ 6,347,999 | [2],[9] | $ 6,347,999 | [10],[12]
Copper Property CTL Pass Through Trust [Member] |  |  |  |  |
% of Net Assets | [1],[3] | 4.18% |  |  |
Par Amount | [3],[7] | $ 622,795 |  |  |
Fair Value | [3],[8] | 6,296,457 |  |  |
Amortized Cost | [3],[9] | $ 7,807,670 |  |  |
Deer Management Systems LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 2.23% | [1] | 2.26% |
Par Amount | [3],[7] | $ 3,336,250 |  | $ 3,357,500 |
Fair Value |  | 3,356,250 | [3],[8] | 3,323,925 |
Amortized Cost | [3] | $ 3,261,036 | [9] | $ 3,294,306 |
DirecTV Financing, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 2.64% | [1] | 2.72% | [13]
Par Amount | [3],[7] | $ 3,987,500 |  | $ 4,100,000 |
Fair Value | [3],[8] | 3,983,762 |  | 4,003,908 |
Amortized Cost |  | $ 3,987,500 | [3],[9] | $ 4,100,000 | [4],[10]
First Brands Group, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 2.49% | [1] | 2.64% | [6]
Par Amount | [3],[7] | $ 3,909,548 |  | $ 3,919,598 |
Fair Value | [3],[8] | 3,753,166 |  | 3,880,402 |
Amortized Cost | [3] | $ 3,909,548 | [9] | $ 3,919,598 | [10]
Franklin BSP Realty Trust, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 0.59% | [1],[2] | 2.04% | [6]
Par Amount | [3],[7] | $ 66,107 | [2] | $ 226,107 |
Fair Value | [3],[8] | 893,106 | [2] | 2,993,657 |
Amortized Cost | [3] | $ 907,782 | [2],[9] | $ 3,572,788 | [10]
Global Accessories Group, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [6]
Par Amount | [3],[7] | $ 380 |  | $ 380 |
Fair Value | [3],[8] |  |  |  |
Amortized Cost | [3] | $ 151,337 | [9] | $ 151,337 | [10]
Innovate Corp. [Member] |  |  |  |  |
% of Net Assets | [3] | 1.40% | [1],[2] | 1.41% | [6]
Par Amount | [3],[7] | $ 2,750,000 | [2] | $ 2,750,000 |
Fair Value | [3],[8] | 2,103,750 | [2] | 2,076,250 |
Amortized Cost | [3] | $ 2,615,913 | [2],[9] | $ 2,615,913 | [10]
Invesco Mortgage Capital, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 3.00% | [1],[2] | 2.71% | [6]
Par Amount | [3],[7] | $ 205,000 | [2] | $ 205,000 |
Fair Value | [3],[8] | 4,514,100 | [2] | 3,989,300 |
Amortized Cost | [3] | $ 5,035,506 | [2],[9] | $ 5,035,506 | [10]
JFL-NGS-WCS Partners, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 7.71% | [1] | 8.57% | [6]
Par Amount | [3],[7] | $ 10,855,744 |  | $ 10,861,605 |
Fair Value | [3],[8] | 11,614,898 |  | 12,599,438 |
Amortized Cost | [3] | $ 10,858,398 | [9] | $ 10,864,482 | [10]
Lighting Science Group Corporation [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [6]
Par Amount | [3],[7] | $ 5,000,000 |  | $ 5,000,000 |
Fair Value | [3],[8] |  |  |  |
Amortized Cost | [3] | $ 955,680 | [9] | $ 955,680 | [10]
Lucky Bucks, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 2.45% | [1] | 2.45% | [6]
Par Amount | [3],[7] | $ 2,231,520 |  | $ 2,231,520 |
Fair Value | [3],[8] | 3,695,440 |  | 3,596,099 |
Amortized Cost | [3] | $ 2,134,927 | [9] | $ 2,134,927 | [10]
McKissock Investment Holdings, LLC (dba Colibri) [Member] |  |  |  |  |
% of Net Assets | [3] | 3.18% | [1] | 3.25% | [6],[12]
Par Amount | [3],[7] | $ 4,912,035 |  | $ 4,924,535 |
Fair Value | [3],[8] | 4,789,691 |  | 4,776,799 |
Amortized Cost | [3] | $ 4,872,676 | [9] | $ 4,883,570 | [10]
MFA Financial, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 1.37% | [1] | 1.26% | [10]
Par Amount | [3],[7] | $ 97,426 |  | $ 97,426 |
Fair Value | [3],[8] | 2,065,431 |  | 1,856,940 |
Amortized Cost | [3] | $ 2,318,487 | [9] | $ 2,318,487 | [4]
New York Mortgage Trust, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 2.55% | [1] | 2.50% | [6]
Par Amount | [3],[7] | $ 165,000 |  | $ 165,000 |
Fair Value | [3],[8] | 3,846,150 |  | 3,677,850 |
Amortized Cost | [3] | $ 4,102,076 | [9] | $ 4,102,076 | [10]
PHH Mortgage Corp [Member] |  |  |  |  |
% of Net Assets | [3] | 4.57% | [1] | 4.66% | [6]
Par Amount | [3],[7] | $ 7,686,000 |  | $ 7,686,000 |
Fair Value | [3],[8] | 6,893,381 |  | 6,845,344 |
Amortized Cost | [3] | $ 6,895,720 | [9] | $ 6,895,720 | [10]
Point.360 [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [6],[10]
Par Amount | [3],[7] | $ 2,777,366 |  | $ 2,777,366 |
Fair Value | [3],[8] |  |  |  |
Amortized Cost | [3] | $ 2,103,712 | [9] | $ 2,103,712 | [10]
Power Stop LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 4.05% | [1] | 3.84% | [6]
Par Amount | [3],[7] | $ 6,902,145 |  | $ 6,919,937 |
Fair Value | [3],[8] | 6,108,398 |  | 5,639,748 |
Amortized Cost | [3] | $ 6,513,020 | [9] | $ 6,515,010 | [10]
Rithm Capital Corp. [Member] |  |  |  |  |
% of Net Assets | [3] | 3.16% | [1] | 3.20% | [6]
Par Amount | [3],[7] | $ 206,684 |  | $ 206,684 |
Fair Value | [3],[8] | 4,764,066 |  | 4,695,860 |
Amortized Cost | [3] | $ 5,129,170 | [9] | $ 5,129,170 | [10]
Secure Acquisition Inc. (dba Paragon Films) [Member] |  |  |  |  |
% of Net Assets | [3] | 2.35% | [1] | 2.31% | [10]
Par Amount | [3],[7] | $ 3,536,461 |  | $ 3,430,517 |
Fair Value | [3],[8] | 3,536,461 |  | 3,396,212 |
Amortized Cost | [3] | $ 3,524,994 | [9] | $ 3,417,600 | [4]
SS Acquisition, LLC (dba Soccer Shots Franchising) [Member] |  |  |  |  |
% of Net Assets | [3] | 6.54% | [1] | 6.72% | [10]
Par Amount | [3],[7] | $ 9,866,667 |  | $ 9,866,667 |
Fair Value | [3],[8] | 9,866,667 |  | 9,866,667 |
Amortized Cost | [3] | $ 9,760,863 | [9] | $ 9,753,518 | [4]
Stancor (dba Industrial Flow Solutions Holdings, LLC) [Member] |  |  |  |  |
% of Net Assets | [3] | 0.25% | [1] | 0.14% | [10]
Par Amount | [3],[7] | $ 358,867 |  | $ 338,736 |
Fair Value | [3],[8] | 375,719 |  | 200,566 |
Amortized Cost | [3] | $ 345,491 | [9] | $ 308,652 | [4]
Staples, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 2.45% | [1] | 2.48% | [10]
Par Amount | [3],[7] | $ 3,682,519 |  | $ 3,692,159 |
Fair Value | [3],[8] | 3,673,313 |  | 3,648,315 |
Amortized Cost | [3] | $ 3,655,257 | [9] | $ 3,655,672 | [4]
Tamarix Capital Partners II, L.P [Member] |  |  |  |  |
% of Net Assets |  | 0.53% | [1],[3] | 0.54% |
Par Amount | [7] |  | [3] |  |
Fair Value |  | 783,465 | [3],[8] | 792,346 |
Amortized Cost |  | $ 1,026,818 | [3],[9] | $ 1,026,818 |
Thryv Holdings, Inc [Member] |  |  |  |  |
% of Net Assets | [3] | 4.70% | [1] | 5.21% | [10]
Par Amount | [3],[7] | $ 7,083,985 |  | $ 7,656,442 |
Fair Value | [3],[8] | 7,072,648 |  | 7,661,227 |
Amortized Cost | [3] | $ 7,018,100 | [9] | $ 7,604,838 | [4]
Velocity Pooling Vehicle, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [10]
Par Amount | [3],[7] | $ 11,947 |  | $ 11,947 |
Fair Value | [3],[8] |  |  |  |
Amortized Cost | [3] | $ 664,131 | [9] | $ 664,131 | [4]
Wingman Holdings, Inc [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [10]
Par Amount | [3],[7] | $ 350 |  | $ 350 |
Fair Value | [3],[8] |  |  |  |
Amortized Cost | [3] | $ 700,000 | [9] | $ 700,000 | [4]
Subtotal Non-Controlled/Non-Affiliated Investments [Member] |  |  |  |  |
% of Net Assets | [3] | 77.03% | [1] | 85.41% | [10]
Par Amount | [3],[7] | $ 99,666,866 |  | $ 106,630,423 |
Fair Value | [3],[8] | 116,100,267 |  | 125,531,031 |
Amortized Cost | [3] | $ 123,544,114 | [9] | $ 134,339,121 | [4]
1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets | [3] | 5.10% | [1],[14] | 3.66% | [6],[10]
Par Amount | [3],[7] | $ 22,228,012 | [14] | $ 15,832,412 | [6]
Fair Value | [3],[8] | 7,683,712 | [14] | 5,383,656 | [6]
Amortized Cost | [3] | $ 16,437,867 | [9],[14] | $ 15,296,502 | [4],[6]
Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 2.51% | [1],[14] | 2.90% | [6],[10]
Par Amount | [3],[7] | $ 16,413,832 | [14] | $ 15,825,824 | [6]
Fair Value | [3],[8] | 3,785,158 | [14] | 4,255,958 | [6]
Amortized Cost | [3] | $ 10,564,242 | [9],[14] | $ 10,564,242 | [4],[6]
FST Holdings Parent, LLC [Member] |  |  |  |  |
% of Net Assets |  | 6.64% | [1],[3],[14] | 6.81% |
Par Amount | [7] | $ 625,548 | [3],[14] | $ 625,548 |
Fair Value |  | 10,000,000 | [3],[8],[14] | 10,000,003 |
Amortized Cost |  | $ 10,000,000 | [3],[9],[14] | $ 10,000,000 |
Maritime Wireless Holdings LLC [Member] |  |  |  |  |
% of Net Assets |  | 12.88% | [1],[3],[14] | 12.01% |
Par Amount | [7] | $ 12,500,000 | [3],[14] | $ 12,500,000 |
Fair Value |  | 19,400,000 | [3],[8],[14] | 17,650,000 |
Amortized Cost |  | $ 12,379,791 | [3],[9],[14] | $ 12,373,166 |
Subtotal Affiliated Investments [Member] |  |  |  |  |
% of Net Assets | [3] | 27.13% | [1],[14] | 25.38% | [6],[10]
Par Amount | [3],[7] | $ 51,767,392 | [14] | $ 44,783,784 | [6]
Fair Value | [3],[8] | 40,868,870 | [14] | 37,289,617 | [6]
Amortized Cost | [3] | $ 49,381,900 | [9],[14] | $ 48,233,910 | [4],[6]
FlexFIN, LLC [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 24.16% | [1] | 26.45% | [10]
Par Amount | [3],[7] | $ 36,410,146 |  | $ 38,870,711 | [15]
Fair Value | [3],[8],[15] | 36,410,146 |  | 38,870,711 |
Amortized Cost | [3],[15] | $ 36,410,146 | [9] | $ 38,870,711 | [4]
Kemmerer Holdings, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 8.87% | [1],[15] | 8.52% | [10],[16]
Par Amount | [3],[7] | $ 3,167,210 | [15] | $ 3,383,908 | [16]
Fair Value | [3],[8] | 13,371,115 | [15] | 12,516,929 | [16]
Amortized Cost | [3] | $ 7,303,330 | [9],[15] | $ 5,220,034 | [4],[16]
NVTN LLC [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 10.27% | [1] | 8.34% | [10]
Par Amount | [3],[7] | $ 39,559,579 |  | $ 36,369,131 | [15]
Fair Value | [3],[8],[15] | 15,471,254 |  | 12,252,403 |
Amortized Cost | [3],[15] | $ 41,537,061 | [9] | $ 38,346,947 | [4]
Subtotal Control Investments [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 43.30% | [1] | 43.31% | [10]
Par Amount | [3],[7] | $ 79,136,935 |  | $ 78,623,750 | [15]
Fair Value | [3],[8],[15] | 65,252,515 |  | 63,640,043 |
Amortized Cost | [3],[15] | $ 85,250,537 | [9] | $ 82,437,692 | [4]
Total Investments [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 147.46% | [1] | 154.40% | [10]
Par Amount | [3],[7],[15] | $ 230,571,193 |  | $ 230,037,957 |
Fair Value | [3],[8],[15] | 222,221,652 |  | 226,460,691 |
Amortized Cost | [3],[15] | $ 258,176,551 | [9] | $ 265,010,723 | [4]
DataOnline Corp. [Member] |  |  |  |  |
% of Net Assets | [3],[6] |  |  | 3.72% |
Par Amount | [3],[7] |  |  | $ 5,526,786 |
Fair Value | [3],[8] |  |  | 5,471,518 |
Amortized Cost | [3],[10] |  |  | $ 5,526,786 |
PennyMac Financial Services, Inc. [Member] |  |  |  |  |
% of Net Assets | [3],[6],[12] |  |  | 1.34% |
Par Amount | [3],[7],[12] |  |  | $ 29,500 |
Fair Value | [3],[8],[12] |  |  | 1,964,700 |
Amortized Cost | [3],[10],[12] |  |  | $ 1,921,275 |
SMART Financial Operations, LLC [Member] |  |  |  |  |
% of Net Assets | [3],[10] |  |  | 0.67% |
Par Amount | [3],[7] |  |  | $ 700,000 |
Fair Value | [3],[8] |  |  | 978,140 |
Amortized Cost | [3],[4] |  |  | $ 700,000 |
Banking, Finance, Insurance & Real Estate [Member] | Equity - 226,107 Common Units [Member] | Franklin BSP Realty Trust, Inc. [Member] |  |  |  |  |
% of Net Assets | [1],[2],[3] | 0.59% |  |  |
Par Amount | [2],[3],[7] | $ 66,107 |  |  |
Fair Value | [2],[3],[8] | 893,106 |  |  |
Amortized Cost | [2],[3],[9] | $ 907,782 |  |  |
Senior Secured First Lien Term Loan B [Member] | Services Business [Member] | Altisource S.A.R.L [Member] |  |  |  |  |
% of Net Assets |  | 5.21% | [1],[2],[3] | 5.31% | [4],[6],[12],[17],[18]
Par Amount | [7] | $ 9,656,385 | [2],[3] | $ 9,565,710 | [4],[12],[17],[18]
Maturity |  | Apr. 30, 2025 | [2],[3] | Apr. 30, 2025 | [4],[12],[17],[18]
Fair Value | [8] | $ 7,860,298 | [2],[3] | $ 7,805,619 | [4],[12],[17],[18]
Amortized Cost |  | $ 8,810,689 | [2],[3],[9] | $ 8,507,963 | [4],[10],[12],[17],[18]
Senior Secured First Lien Term Loan B [Member] | Construction & Building [Member] | JFL-NGS-WCS Partners, LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3] | 0.57% |  |  |
Par Amount | [3],[7] | $ 855,744 |  |  |
Maturity | [3] | Nov. 12, 2026 |  |  |
Fair Value | [3],[8] | $ 855,744 |  |  |
Amortized Cost | [3],[9] | $ 858,398 |  |  |
Senior Secured First Lien Term Loan B [Member] | Hotel, Gaming & Leisure [Member] | Maritime Wireless Corp [Member] |  |  |  |  |
% of Net Assets | [1],[3],[14] | 4.98% |  |  |
Par Amount | [3],[7],[14] | $ 7,500,000 |  |  |
Maturity | [3],[14] | May 31, 2027 |  |  |
Fair Value | [3],[8],[14] | $ 7,500,000 |  |  |
Amortized Cost | [3],[9],[14] | $ 7,379,791 |  |  |
Senior Secured First Lien Term Loan B [Member] | Hotel, Gaming & Leisure [Member] | Maritime Wireless Holdings LLC [Member] |  |  |  |  |
% of Net Assets |  |  |  | 5.10% |
Par Amount | [7] |  |  | $ 7,500,000 |
Maturity |  |  |  | May 31, 2027 |
Fair Value |  |  |  | $ 7,500,000 |
Amortized Cost |  |  |  | $ 7,373,166 |
Senior Secured First Lien Term Loan B [Member] | Hotel, Gaming & Leisure [Member] | NVTN LLC [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 3.39% | [1],[5],[19] | 3.43% | [10]
Par Amount | [3],[7],[15] | $ 17,552,420 | [5],[19] | $ 17,552,420 |
Maturity | [3],[15] | Dec. 31, 2024 | [5],[19] | Dec. 31, 2024 |
Fair Value | [3],[8],[15] | $ 5,107,754 | [5],[19] | $ 5,037,547 |
Amortized Cost | [3],[15] | $ 13,916,082 | [5],[9],[19] | $ 13,916,083 | [4]
First Lien Term Loans [Member] | Aerospace & Defense [Member] | Arcline FM Holdings, LLC [Member] |  |  |  |  |
% of Net Assets |  | 1.72% | [1],[3] | 1.80% | [6],[17],[18]
Par Amount | [7] | $ 2,672,658 | [3] | $ 2,679,494 | [17],[18]
Maturity |  | Jun. 23, 2028 | [3] | Jun. 23, 2028 | [17],[18]
Fair Value | [8] | $ 2,611,187 | [3] | $ 2,644,660 | [17],[18]
Amortized Cost |  | $ 2,587,942 | [3],[9] | $ 2,591,013 | [10],[17],[18]
Equity - 417 Common Units [Member] | Containers, Packaging & Glass [Member] | Be Green Packaging, LLC [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% | [6]
Par Amount | [7] | $ 417 | [3] | $ 417 |
Fair Value | [8] |  | [3] |  |
Amortized Cost |  | $ 416,250 | [3],[9] | $ 416,250 | [10]
Equity - 833,152 Common Units [Member] | Services Business [Member] | Boostability Seotowncenter, Inc. [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% | [6]
Par Amount | [7] | $ 833,152 | [3] | $ 833,152 | [4]
Fair Value | [8] |  | [3] |  |
Amortized Cost |  | $ 66,475 | [3],[9] | $ 66,475 | [10]
First Lien Term Loan [Member] | Banking, Finance, Insurance & Real Estate [Member] | CB&L Associates Holdco I, LLC [Member] |  |  |  |  |
% of Net Assets |  | 3.49% | [1],[3] | 3.53% | [4],[6],[11],[17],[20]
Par Amount | [7] | $ 5,895,967 | [3] | $ 5,916,102 | [4],[11],[17],[20]
Maturity |  | Nov. 01, 2025 | [3] | Nov. 01, 2025 | [4],[11],[17],[20]
Fair Value | [8] | $ 5,265,836 | [3] | $ 5,191,380 | [4],[11],[17],[20]
Amortized Cost |  | $ 5,058,947 | [3],[9] | $ 4,990,179 | [4],[10],[11],[17],[20]
First Lien Term Loan [Member] | Consumer Discretionary [Member] | Deer Management Systems LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 2.23% | [1] | 2.26% | [6],[17],[18],[21]
Par Amount | [3],[7] | $ 3,336,250 |  | $ 3,357,500 | [17],[18],[21]
Maturity | [3] | May 01, 2028 |  | May 01, 2028 | [17],[18],[21]
Fair Value | [3],[8] | $ 3,356,250 |  | $ 3,323,925 | [17],[18],[21]
Amortized Cost | [3] | $ 3,261,036 | [9] | $ 3,294,306 | [10],[17],[18],[21]
First Lien Term Loan [Member] | Services: Consumer [Member] | Staples, Inc. [Member] |  |  |  |  |
% of Net Assets |  | 2.45% | [1],[3] | 2.48% |
Par Amount | [3],[7] | $ 3,682,519 |  | $ 3,692,159 | [8]
Maturity | [3] | Sep. 12, 2024 |  | Sep. 12, 2024 | [4]
Fair Value |  | $ 3,673,313 | [3],[8] | $ 3,648,315 |
Amortized Cost | [3] | $ 3,655,257 | [9] | $ 3,655,672 | [10]
Equity - 117,310 Class C Preferred Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | Chimera Investment Corp [Member] |  |  |  |  |
% of Net Assets |  | 1.55% | [1],[2],[3] | 1.44% | [6],[12],[13],[22]
Par Amount | [7] | $ 117,310 | [2],[3] | $ 117,310 | [12],[13],[22]
Fair Value | [8] | 2,334,469 | [2],[3] | 2,116,271 | [12],[13],[22]
Amortized Cost |  | $ 2,884,724 | [2],[3],[9] | $ 2,884,724 | [10],[12],[13],[22]
Equity - 163,601 Class D Preferred Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | Chimera Investment Corp [Member] |  |  |  |  |
% of Net Assets | [3] | 2.53% | [1],[2] | 2.32% | [6],[22],[23]
Par Amount | [3],[7] | $ 163,601 | [2] | $ 163,601 | [12],[22],[23]
Fair Value | [3],[8] | 3,813,539 | [2] | 3,414,353 | [22],[23]
Amortized Cost | [3] | $ 3,463,275 | [2],[9] | $ 3,463,275 | [10],[22],[23]
Equity Certificates [Member] | Banking, Finance, Insurance & Real Estate [Member] | Copper Property CTL Pass Through Trust [Member] |  |  |  |  |
% of Net Assets | [3] | 4.18% | [1] | 4.23% | [6],[20]
Par Amount | [3],[7] | $ 622,795 |  | $ 597,795 | [20]
Fair Value | [3],[8] | 6,296,457 |  | 6,217,067 | [20]
Amortized Cost | [3] | $ 7,807,670 | [9] | $ 7,547,670 | [10],[20]
Senior Secured First Lien Term Loan [Member] | Media: Broadcasting & Subscription [Member] | DirecTV Financing, LLC [Member] |  |  |  |  |
% of Net Assets |  | 2.64% | [1] | 2.72% | [3]
Par Amount | [3],[7] | $ 3,987,500 |  | $ 4,100,000 |
Maturity | [3] | Aug. 02, 2027 |  | Aug. 02, 2027 |
Fair Value | [3] | $ 3,983,762 | [8] | $ 4,003,908 |
Amortized Cost | [3] | $ 3,987,500 | [9] | $ 4,100,000 |
Senior Secured First Lien Term Loan [Member] | Media: Broadcasting & Subscription [Member] | Thryv Holdings, Inc [Member] |  |  |  |  |
% of Net Assets |  |  |  | 5.21% |
Par Amount | [3],[7],[8] |  |  | $ 7,656,442 |
Maturity | [3],[4] |  |  | Mar. 01, 2026 |
Fair Value |  |  |  | $ 7,661,227 |
Amortized Cost | [3],[10] |  |  | $ 7,604,838 |
Senior Secured First Lien Term Loan [Member] | Automotive Sector [Member] | First Brands Group, LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3] | 2.49% |  |  |
Par Amount | [3],[7] | $ 3,909,548 |  |  |
Maturity | [3] | Mar. 30, 2027 |  |  |
Fair Value | [3],[8] | $ 3,753,166 |  |  |
Amortized Cost | [3],[9] | $ 3,909,548 |  |  |
Senior Secured First Lien Term Loan [Member] | Services: Consumer [Member] | McKissock Investment Holdings, LLC (dba Colibri) [Member] |  |  |  |  |
% of Net Assets | [3] | 3.18% | [1] | 3.25% | [6],[10]
Par Amount | [3],[7] | $ 4,912,035 |  | $ 4,924,535 |
Maturity | [3] | Mar. 10, 2029 |  | Mar. 12, 2029 |
Fair Value | [3],[8] | $ 4,789,691 |  | $ 4,776,799 |
Amortized Cost | [3] | $ 4,872,676 | [9] | $ 4,883,570 | [10]
Senior Secured First Lien Term Loan [Member] | Metals & Mining [Member] | Kemmerer Operations, LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3],[15] | 2.10% |  |  |
Par Amount | [3],[7],[8],[15] | $ 3,167,173 |  |  |
Maturity | [3],[15] | Jun. 21, 2025 |  |  |
Fair Value | [3],[8],[15] | $ 3,167,173 |  |  |
Amortized Cost | [1],[3],[15] | $ 3,167,173 |  |  |
Equity - 3.8% Membership Interest [Member] | Consumer goods: Non-durable [Member] | Global Accessories Group, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [6],[24]
Par Amount | [3],[7] | $ 380 |  | $ 380 | [24]
Fair Value | [3],[8] |  |  |  | [24]
Amortized Cost | [3] | $ 151,337 | [9] | $ 151,337 | [10],[24]
8.50% Senior Secured Notes [Member] | Construction & Building [Member] | Innovate Corp. [Member] |  |  |  |  |
% of Net Assets | [3] | 1.40% | [1],[2] | 1.41% | [6],[12],[20]
Par Amount | [3],[7] | $ 2,750,000 | [2] | $ 2,750,000 | [12],[20]
Maturity | [3] | Feb. 01, 2026 | [2] | Feb. 01, 2026 | [12],[20]
Fair Value | [3],[8] | $ 2,103,750 | [2] | $ 2,076,250 | [12],[20]
Amortized Cost | [3] | $ 2,615,913 | [2],[9] | $ 2,615,913 | [10],[12],[20]
Equity - 205,000 Class C Preferred Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | Invesco Mortgage Capital, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 3.00% | [1],[2] | 2.71% | [6],[12],[22],[25]
Par Amount | [3],[7] | $ 205,000 | [2] | $ 205,000 | [12],[22],[25]
Fair Value | [3],[8] | 4,514,100 | [2] | 3,989,300 | [12],[22],[25]
Amortized Cost | [3] | $ 5,035,506 | [2],[9] | $ 5,035,506 | [10],[12],[22],[25]
Equity - 10,000,000 Units [Member] | Construction & Building [Member] | JFL-NGS-WCS Partners, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 7.14% | [1] | 7.98% | [6],[24]
Par Amount | [3],[7] | $ 10,000,000 |  | $ 10,000,000 | [24]
Fair Value | [3],[8] | 10,759,154 |  | 11,733,525 | [24]
Amortized Cost | [3] | $ 10,000,000 | [9] | $ 10,000,000 | [10],[24]
Warrants - 0.62% of Outstanding Equity [Member] | Containers, Packaging & Glass [Member] | Lighting Science Group Corporation [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [6],[24]
Par Amount | [3],[7] | $ 5,000,000 |  | $ 5,000,000 | [24]
Fair Value | [3],[8] |  |  |  | [24]
Amortized Cost | [3] | $ 955,680 | [9] | $ 955,680 | [10],[24]
Equity 180,739 Membership Units [Member] | Consumer Discretionary [Member] | Lucky Bucks, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 1.09% | [1] | 1.05% | [6],[24]
Par Amount | [3],[7] | $ 180,739 |  | $ 180,739 | [24]
Fair Value | [3],[8] | 1,644,659 |  | 1,545,318 | [24]
Amortized Cost | [3] | $ 174,393 | [9] | $ 174,393 | [10],[24]
Priority Second Out Term LoanTL [Member] | Consumer Discretionary [Member] | Lucky Bucks, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 0.90% | [1] | 0.93% | [6],[11],[17]
Par Amount | [3],[7] | $ 1,361,240 |  | $ 1,361,240 | [11],[17]
Maturity |  | Oct. 02, 2029 |  | Oct. 02, 2029 | [3],[11],[17]
Fair Value | [3],[8] | $ 1,361,240 |  | $ 1,361,240 | [11],[17]
Amortized Cost | [3] | $ 1,334,015 | [9] | $ 1,334,015 | [10],[11],[17]
Priority First Out Exit Term LoanTL [Member] | Consumer Discretionary [Member] | Lucky Bucks, LLC [Member] |  |  |  |  |
% of Net Assets | [3] | 0.46% | [1] | 0.47% | [11],[17]
Par Amount | [3],[7] | $ 689,541 |  | $ 689,541 | [10],[11],[17]
Maturity |  | Oct. 02, 2028 |  | Oct. 02, 2028 | [3],[11],[17]
Fair Value | [3],[8] | $ 689,541 |  | $ 689,541 | [6],[11],[17]
Amortized Cost | [3] | $ 626,519 | [9] | $ 626,519 | [11],[17]
Equity - 97,426 Class C Preferred Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | MFA Financial, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 1.37% | [1],[2] | 1.26% | [10],[12],[22],[26]
Par Amount | [3],[7] | $ 97,426 | [2] | $ 97,426 | [12],[22],[26]
Fair Value | [3],[8] | 2,065,431 | [2] | 1,856,940 | [12],[22],[26]
Amortized Cost | [3] | $ 2,318,487 | [2],[9] | $ 2,318,487 | [4],[10],[12],[22],[26]
Equity - 165,000 Class E Preferred Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | New York Mortgage Trust, Inc. [Member] |  |  |  |  |
% of Net Assets | [3] | 2.55% | [1],[2] | 2.50% | [6],[10],[12],[22],[27]
Par Amount | [3],[7] | $ 165,000 | [2] | $ 165,000 | [12],[22],[27]
Fair Value | [3],[8] | 3,846,150 | [2] | 3,677,850 | [12],[22],[27]
Amortized Cost | [3] | $ 4,102,076 | [2],[9] | $ 4,102,076 | [4],[10],[12],[22],[27]
Senior Secured Notes [Member] | Banking, Finance, Insurance & Real Estate [Member] | PHH Mortgage Corp [Member] |  |  |  |  |
% of Net Assets | [1],[3] | 4.57% |  |  |
Par Amount | [3],[7] | $ 7,686,000 |  |  |
Maturity | [3] | Mar. 15, 2026 |  |  |
Fair Value | [3],[8] | $ 6,893,381 |  |  |
Amortized Cost | [3],[9] | $ 6,895,720 |  |  |
Senior Secured First Lien Term Loan [Member] | Services Business [Member] | Point.360 [Member] |  |  |  |  |
% of Net Assets | [3] | 0.00% | [1] | 0.00% | [6],[10],[24],[28]
Par Amount | [3],[7] | $ 2,777,366 |  | $ 2,777,366 | [24],[28]
Maturity | [3] | Jul. 08, 2020 |  | Jul. 08, 2020 | [24],[28]
Fair Value | [3],[8] |  |  |  | [24],[28]
Amortized Cost | [3] | $ 2,103,712 | [9] | $ 2,103,712 | [4],[10],[24],[28]
Senior Secured First Lien Term Loan [Member] | Automotive Sector [Member] | Power Stop LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3] | 4.05% |  |  |
Par Amount | [3],[7] | $ 6,902,145 |  |  |
Maturity | [3] | Jan. 26, 2029 |  |  |
Fair Value | [3],[8] | $ 6,108,398 |  |  |
Amortized Cost | [3],[9] | $ 6,513,020 |  |  |
Senior Secured First Lien Term Loan [Member] | Services: Consumer [Member] | SS Acquisition, LLC (dba Soccer Shots Franchising) [Member] |  |  |  |  |
% of Net Assets |  | 4.42% | [1],[3] | 4.54% |
Par Amount | [3],[7] | $ 6,666,667 |  | $ 6,666,667 | [8],[29]
Maturity | [3] | Dec. 30, 2026 |  | Dec. 30, 2026 | [4],[29]
Fair Value |  | $ 6,666,667 | [3],[8] | $ 6,666,667 |
Amortized Cost | [3] | $ 6,597,779 | [9] | $ 6,592,976 | [10],[29]
Senior Secured First Lien Term Loan [Member] | Packaging [Member] | Secure Acquisition Inc. (dba Paragon Films) [Member] |  |  |  |  |
% of Net Assets | [3] | 2.35% | [1] | 2.31% | [10],[16]
Par Amount | [3],[7] | $ 3,536,461 |  | $ 3,430,517 | [16]
Maturity | [3] | Dec. 16, 2028 |  | Dec. 16, 2028 | [16]
Fair Value | [3],[8] | $ 3,536,461 |  | $ 3,396,212 | [16]
Amortized Cost | [3] | $ 3,524,994 | [9] | $ 3,418,570 | [4],[16]
Senior Secured First Lien Term Loan [Member] | Automotive [Member] | First Brands Group, LLC [Member] |  |  |  |  |
% of Net Assets | [3],[6],[17],[30] |  |  | 2.64% |
Par Amount | [3],[7],[17],[30] |  |  | $ 3,919,598 |
Maturity | [3],[17],[30] |  |  | Mar. 30, 2027 |
Fair Value | [3],[8],[17],[30] |  |  | $ 3,880,402 |
Amortized Cost | [3],[10],[17],[30] |  |  | $ 3,919,598 |
Senior Secured First Lien Term Loan [Member] | Automotive [Member] | Power Stop LLC [Member] |  |  |  |  |
% of Net Assets | [3],[6],[10],[11],[17] |  |  | 3.84% |
Par Amount | [3],[7],[11],[17] |  |  | $ 6,919,937 |
Maturity | [3],[11],[17] |  |  | Jan. 26, 2029 |
Fair Value | [3],[8],[11],[17] |  |  | $ 5,639,748 |
Amortized Cost | [3],[10],[11],[17] |  |  | $ 6,515,010 |
Senior Secured First Lien Term Loan [Member] | Metals & Mining [Member] | Kemmerer Holdings, LLC [Member] |  |  |  |  |
% of Net Assets |  |  |  | 2.30% |
Par Amount | [3],[6],[7],[8],[16] |  |  | $ 3,383,877 |
Maturity | [3],[4],[6],[16] |  |  | Jun. 21, 2025 |
Fair Value |  |  |  | $ 3,383,877 |
Amortized Cost | [3],[6],[10],[16] |  |  | $ 3,383,877 |
Senior Secured First Lien Term Loan [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets |  |  |  | 0.99% |
Par Amount | [3],[4],[6],[7],[29] |  |  | $ 13,029,115 |
Maturity | [3],[6],[7],[29] |  |  | Jan. 31, 2024 |
Fair Value | [3],[6],[10],[29] |  |  | $ 1,459,249 |
Amortized Cost | [3],[6],[8],[29] |  |  | $ 7,767,533 |
Senior Secured First Lien Term Loan [Member] | High Tech Industries [Member] | DataOnline Corp. [Member] |  |  |  |  |
% of Net Assets | [3],[6],[17],[18] |  |  | 3.24% |
Par Amount | [3],[7],[17],[18] |  |  | $ 4,812,500 |
Maturity | [3],[17],[18] |  |  | Nov. 13, 2025 |
Fair Value | [3],[8],[17],[18] |  |  | $ 4,764,375 |
Amortized Cost | [3],[10],[17],[18] |  |  | $ 4,812,500 |
Equity - 206,684 Class B Preferred Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | Rithm Capital Corp. [Member] |  |  |  |  |
% of Net Assets | [3] | 3.16% | [1],[2] | 3.20% | [6],[22],[31]
Par Amount | [3],[7] | $ 206,684 | [2] | $ 206,684 | [22],[31]
Fair Value | [3],[8] | 4,764,066 | [2] | 4,695,860 | [22],[31]
Amortized Cost | [3] | $ 5,129,170 | [2],[9] | $ 5,129,170 | [10],[22],[31]
Senior Secured First Lien Delayed Draw Term Loan [Member] | Services: Consumer [Member] | SS Acquisition, LLC (dba Soccer Shots Franchising) [Member] |  |  |  |  |
% of Net Assets | [1],[3] | 2.12% |  |  |
Par Amount | [3],[7] | $ 3,200,000 |  |  |
Maturity | [3] | Dec. 30, 2026 |  |  |
Fair Value | [3],[8] | $ 3,200,000 |  |  |
Amortized Cost | [3],[9] | $ 3,163,084 |  |  |
Senior Secured First Lien Delayed Draw Term Loan [Member] | Packaging [Member] | Secure Acquisition Inc. (dba Paragon Films) [Member] |  |  |  |  |
% of Net Assets | [3],[10],[16] |  |  | 0.00% |
Par Amount | [3],[7],[16] |  |  |  |
Maturity | [3],[16] |  |  | Dec. 16, 2028 |
Fair Value | [3],[8],[16] |  |  |  |
Amortized Cost | [3],[4],[16] |  |  | $ (970) |
Senior Secured First Lien Delayed Draw Term Loan [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets |  |  |  | 0.60% |
Par Amount | [3],[6],[7],[8] |  |  | $ 875,749 |
Maturity | [3],[4],[6] |  |  | Jan. 31, 2024 |
Fair Value |  |  |  | $ 875,749 |
Amortized Cost | [3],[6],[10] |  |  | $ 875,749 |
Equity - 338,736.11 Class A Units [Member] | Services Business [Member] | Stancor (dba Industrial Flow Solutions Holdings, LLC) [Member] |  |  |  |  |
% of Net Assets |  | 0.25% | [1],[3] | 0.14% |
Par Amount | [3],[7] | $ 358,867 |  | $ 338,736 | [8]
Fair Value |  | 375,719 | [3],[8] | 200,566 |
Amortized Cost | [3] | $ 345,491 | [9] | $ 308,652 | [10]
Fund Investment [Member] | Banking, Finance, Insurance & Real Estate [Member] | Tamarix Capital Partners II, L.P [Member] |  |  |  |  |
% of Net Assets |  | 0.53% | [1],[2],[3] | 0.54% |
Par Amount | [7] |  | [2],[3] |  |
Fair Value |  | 783,465 | [2],[3],[8] | 792,346 |
Amortized Cost |  | $ 1,026,818 | [2],[3],[9] | $ 1,026,818 |
Senior Secured First Lien Term Loans Four [Member] | Media: Broadcasting & Subscription [Member] | Thryv Holdings, Inc [Member] |  |  |  |  |
% of Net Assets | [1],[2],[3] | 4.70% |  |  |
Par Amount | [2],[3],[7] | $ 7,083,985 |  |  |
Maturity | [2],[3] | Mar. 01, 2026 |  |  |
Fair Value | [2],[3],[8] | $ 7,072,648 |  |  |
Amortized Cost | [2],[3],[9] | $ 7,018,100 |  |  |
Equity - 5,441 Class A Units [Member] | Automotive [Member] | Velocity Pooling Vehicle, LLC [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% |
Par Amount | [3],[7] | $ 5,441 |  | $ 5,441 | [8]
Fair Value |  |  | [3],[8] |  |
Amortized Cost | [3] | $ 302,464 | [9] | $ 302,464 | [10]
Warrants - 0.65% of Outstanding Equity [Member] | Automotive [Member] | Velocity Pooling Vehicle, LLC [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% |
Par Amount | [3],[7] | $ 6,506 |  | $ 6,506 | [4]
Maturity | [3] | Mar. 30, 2028 |  | Mar. 30, 2028 | [7]
Fair Value | [3] |  | [8] |  | [10]
Amortized Cost | [3] | $ 361,667 | [9] | $ 361,667 | [8]
Equity - 350 Common Shares [Member] | Aerospace & Defense [Member] | Wingman Holdings, Inc [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3] | 0.00% |
Par Amount | [3],[7] | $ 350 |  | $ 350 | [8]
Fair Value |  |  | [3],[8] |  |
Amortized Cost | [3] | $ 700,000 | [9] | $ 700,000 | [10]
Senior Secured First Lien Term Loan A [Member] | Energy Oil & Gas [Member] | 1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets | [1],[3],[14] | 0.00% |  |  |
Par Amount | [3],[7],[14] | $ 14,289,903 |  |  |
Maturity | [3],[14] | Aug. 31, 2024 |  |  |
Fair Value | [3],[8],[14] |  |  |  |
Amortized Cost | [3],[9],[14] | $ 9,473,068 |  |  |
Senior Secured First Lien Term Loan C [Member] | Energy Oil & Gas [Member] | 1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets | [1],[3],[14] | 0.95% |  |  |
Par Amount | [3],[7],[14] | $ 1,663,108 |  |  |
Maturity | [3],[14] | Aug. 31, 2024 |  |  |
Fair Value | [3],[8],[14] | $ 1,430,273 |  |  |
Amortized Cost | [3],[9],[14] | $ 1,191,257 |  |  |
Senior Secured First Lien Term Loan C [Member] | Energy Oil & Gas [Member] | 1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets |  |  |  | 0.51% |
Par Amount | [3],[4],[6],[7] |  |  | $ 1,231,932 |
Maturity | [3],[6],[7] |  |  | Aug. 31, 2024 |
Fair Value | [3],[6],[10] |  |  | $ 751,479 |
Amortized Cost | [3],[6],[8] |  |  | $ 1,191,257 |
Senior Secured First Lien Term Loan C [Member] | Hotel, Gaming & Leisure [Member] | NVTN LLC [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 0.00% | [1],[5],[19] | 0.00% | [10]
Par Amount | [3],[7],[15] | $ 11,506,159 | [5],[19] | $ 11,506,159 |
Maturity | [3],[15] | Dec. 31, 2024 | [5],[19] | Dec. 31, 2024 |
Fair Value | [3],[8],[15] |  | [5],[19] |  |
Amortized Cost | [3],[15] | $ 7,570,055 | [5],[9],[19] | $ 7,570,055 | [4]
Revolving Credit Facility [Member] | Energy Oil & Gas [Member] | 1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets |  | 4.15% | [1],[3],[14] | 3.15% |
Par Amount | [3],[7] | $ 6,253,439 | [14] | $ 4,632,177 | [4],[6]
Maturity | [3] | Aug. 31, 2024 | [14] | Aug. 31, 2024 | [6],[7]
Fair Value | [3] | $ 6,253,439 | [8],[14] | $ 4,632,177 | [6],[10]
Amortized Cost | [3] | $ 5,773,542 | [9],[14] | $ 4,632,177 | [6],[8]
Revolving Credit Facility [Member] | High Tech Industries [Member] | DataOnline Corp. [Member] |  |  |  |  |
% of Net Assets | [3],[6],[17],[18] |  |  | 0.48% |
Par Amount | [3],[7],[17],[18] |  |  | $ 714,286 |
Maturity | [3],[17],[18] |  |  | Nov. 13, 2025 |
Fair Value | [3],[8],[17],[18] |  |  | $ 707,143 |
Amortized Cost | [3],[10],[17],[18] |  |  | $ 714,286 |
Equity - 21,562 Class A Units [Member] | Energy Oil & Gas [Member] | 1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets |  |  | [1],[3],[14] |  |
Par Amount | [3],[7] | $ 21,562 | [14] | $ 21,562 | [4],[6]
Fair Value | [3] |  | [8],[14] |  | [6],[10]
Amortized Cost | [3] |  | [9],[14] |  | [6],[8]
Senior Secured First Lien Delayed Draw Term Loan [Member] | Services: Consumer [Member] | SS Acquisition, LLC (dba Soccer Shots Franchising) [Member] |  |  |  |  |
% of Net Assets |  |  |  | 2.18% |
Par Amount | [7] |  |  | $ 3,200,000 |
Maturity |  |  |  | Dec. 30, 2026 |
Fair Value |  |  |  | $ 3,200,000 |
Amortized Cost |  |  |  | $ 3,160,542 |
Senior Secured First Lien Delayed Draw Term Loan [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3],[14] | 0.58% |  |  |
Par Amount | [3],[7],[14] | $ 908,080 |  |  |
Maturity | [3],[14] | Jan. 31, 2024 |  |  |
Fair Value | [3],[8],[14] | $ 875,749 |  |  |
Amortized Cost | [3],[9],[14] | $ 875,749 |  |  |
Senior Secured First Lien Delayed Draw Term Loan [Member] | Hotel, Gaming & Leisure [Member] | NVTN LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3],[15],[32] | 6.88% |  |  |
Par Amount | [3],[7],[15],[32] | $ 10,500,000 |  |  |
Maturity | [3],[15],[32] | Dec. 31, 2024 |  |  |
Fair Value | [3],[8],[15],[32] | $ 10,363,500 |  |  |
Amortized Cost | [3],[9],[15],[32] | $ 10,500,000 |  |  |
Senior Secured First Lien Super Priority Delayed Draw Term Loan [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets |  |  |  | 1.31% |
Par Amount | [3],[4],[6],[7] |  |  | $ 1,920,960 |
Maturity | [3],[6],[7] |  |  | Jan. 31, 2024 |
Fair Value | [3],[6],[10] |  |  | $ 1,920,960 |
Amortized Cost | [3],[6],[8] |  |  | $ 1,920,960 |
Equity - 17.92% Membership Interest [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets |  | 0.00% | [1],[3],[14] | 0.00% |
Par Amount | [3],[7] |  | [14] |  | [4],[6]
Fair Value | [3] |  | [8],[14] |  | [6],[10]
Amortized Cost | [3] |  | [9],[14] |  | [6],[8]
Equity 625,548 Class A Units [Member] | High Tech Industries [Member] | FST Holdings Parent, LLC [Member] |  |  |  |  |
% of Net Assets |  | 6.64% | [1],[3],[14] | 6.81% |
Par Amount | [7] | $ 625,548 | [3],[14] | $ 625,548 |
Fair Value |  | 10,000,000 | [3],[8],[14] | 10,000,003 |
Amortized Cost |  | $ 10,000,000 | [3],[9],[14] | $ 10,000,000 |
Equity 500,000 Class A Units [Member] | Hotel, Gaming & Leisure [Member] | Maritime Wireless Holdings LLC [Member] |  |  |  |  |
% of Net Assets |  | 7.90% |  | 6.91% |
Par Amount | [7] | $ 5,000,000 | [3],[9],[14] | $ 500,000 |
Fair Value |  | 11,900,000 | [1],[3],[14] | 10,150,000 |
Amortized Cost |  | $ 5,000,000 | [3],[8],[14] | $ 5,000,000 |
Equity Interest [Member] | Services Business [Member] | FlexFIN, LLC [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 24.16% | [1] | 26.45% | [10]
Par Amount | [3],[7],[15] | $ 36,410,146 |  | $ 38,870,711 |
Fair Value | [3],[8],[15] | 36,410,146 |  | 38,870,711 |
Amortized Cost | [3],[15] | $ 36,410,146 | [1] | $ 38,870,711 | [4]
Equity - 31 Common Units [Member] | Metals & Mining [Member] | Kemmerer Holdings, LLC [Member] |  |  |  |  |
% of Net Assets |  | 6.77% | [1],[3],[15] | 6.22% |
Par Amount | [3],[7] | $ 37 | [5],[8],[15] | $ 31 | [4],[16]
Fair Value | [3] | 10,203,942 | [8],[15] | 9,133,052 | [10],[16]
Amortized Cost | [3] | $ 4,136,157 | [1],[5],[15] | $ 1,836,157 | [8],[16]
Equity - 1,000 Class A Units [Member] | Hotel, Gaming & Leisure [Member] | NVTN LLC [Member] |  |  |  |  |
% of Net Assets | [3],[15] | 0.00% | [1],[5] | 0.00% | [10]
Par Amount | [3],[7],[15] | $ 1,000 | [5] | $ 1,000 |
Fair Value | [3],[8],[15] |  | [5] |  |
Amortized Cost | [3],[15] | $ 9,550,924 | [5],[9] | $ 9,550,924 | [4]
Equity - 226,107 Common Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | Franklin BSP Realty Trust, Inc. [Member] |  |  |  |  |
% of Net Assets | [3],[6],[12],[22] |  |  | 2.04% |
Par Amount | [3],[7],[12],[22] |  |  | $ 226,107 |
Fair Value | [3],[8],[12],[22] |  |  | 2,993,657 |
Amortized Cost | [3],[10],[12],[22] |  |  | $ 3,572,788 |
Senior Secured First Lien Term Loan B [Member] | Construction & Building [Member] | JFL-NGS-WCS Partners, LLC [Member] |  |  |  |  |
% of Net Assets | [3],[6],[11],[17] |  |  | 0.59% |
Par Amount | [3],[7],[11],[17] |  |  | $ 861,605 |
Maturity | [3],[11],[17] |  |  | Nov. 12, 2026 |
Fair Value | [3],[8],[11],[17] |  |  | $ 865,913 |
Amortized Cost | [3],[10],[11],[17] |  |  | $ 864,482 |
Equity 29,500 Common Units [Member] | Banking, Finance, Insurance & Real Estate [Member] | PennyMac Financial Services, Inc. [Member] |  |  |  |  |
% of Net Assets | [3],[6],[10],[12],[22] |  |  | 1.34% |
Par Amount | [3],[7],[12],[22] |  |  | $ 29,500 |
Fair Value | [3],[8],[12],[22] |  |  | 1,964,700 |
Amortized Cost | [3],[4],[10],[12],[22] |  |  | $ 1,921,275 |
7.875% Senior Secured Note [Member] | Banking, Finance, Insurance & Real Estate [Member] | PHH Mortgage Corp [Member] |  |  |  |  |
% of Net Assets | [3],[6],[20] |  |  | 4.66% |
Par Amount | [3],[7],[20] |  |  | $ 7,686,000 |
Maturity | [3],[20] |  |  | Mar. 15, 2026 |
Fair Value | [3],[8],[20] |  |  | $ 6,845,344 |
Amortized Cost | [3],[10],[20] |  |  | $ 6,895,720 |
Equity - 700,000 Class A Preferred Units [Member] | Retail [Member] | SMART Financial Operations, LLC [Member] |  |  |  |  |
% of Net Assets |  |  |  | 0.67% |
Par Amount | [3],[7],[8] |  |  | $ 700,000 |
Fair Value |  |  |  | 978,140 |
Amortized Cost | [3],[10] |  |  | $ 700,000 |
Senior Secured First Lien Term Loan A [Member] | Energy Oil & Gas [Member] | 1888 Industrial Services, LLC |  |  |  |  |
% of Net Assets |  |  |  | 0.00% |
Par Amount | [3],[6],[7],[8] |  |  | $ 9,946,741 |
Maturity | [3],[4],[6] |  |  | Aug. 31, 2024 |
Fair Value |  |  |  |  |
Amortized Cost | [3],[6],[10] |  |  | $ 9,473,068 |
Warrants [Member] | Senior Secured First Lien Term Loan B [Member] | Services Business [Member] | Altisource S.A.R.L [Member] |  |  |  |  |
% of Net Assets |  | 0.14% | [1],[2],[3] | 0.14% | [4],[5],[6]
Par Amount | [7] | $ 75,080 | [2],[3] | $ 75,080 | [4],[5]
Maturity |  | May 22, 2027 | [2],[3] | May 22, 2027 | [5]
Fair Value | [8] | $ 228,619 | [2],[3] | $ 206,470 | [4],[5]
Amortized Cost |  |  | [2],[3],[9] |  | [4],[5],[10]
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Senior Secured First Lien Term Loan [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3],[14] | 0.66% |  |  |
Par Amount | [3],[7],[14] | $ 13,513,874 |  |  |
Maturity | [3],[14] | Jan. 31, 2024 |  |  |
Fair Value | [3],[8],[14] | $ 988,449 |  |  |
Amortized Cost | [3],[9],[14] | $ 7,767,533 |  |  |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Senior Secured First Lien Super Priority Delayed Draw Term Loan [Member] | Hotel, Gaming & Leisure [Member] | Black Angus Steakhouses, LLC [Member] |  |  |  |  |
% of Net Assets | [1],[3],[14] | 1.27% |  |  |
Par Amount | [3],[7],[14] | $ 1,991,878 |  |  |
Maturity | [3],[14] | Jan. 31, 2024 |  |  |
Fair Value | [3],[8],[14] | $ 1,920,960 |  |  |
Amortized Cost | [3],[9],[14] | $ 1,920,960 |  |  |
London Interbank Offered Rates (LIBOR) [Member] | Senior Secured First Lien Delayed Draw Term Loan [Member] | Hotel, Gaming & Leisure [Member] | NVTN LLC [Member] |  |  |  |  |
% of Net Assets | [3],[10],[15],[29] |  |  | 4.91% |
Par Amount | [3],[7],[15],[29] |  |  | $ 7,309,552 |
Maturity | [3],[15],[29] |  |  | Dec. 31, 2024 |
Fair Value | [3],[8],[15],[29] |  |  | $ 7,214,856 |
Amortized Cost | [3],[4],[15],[29] |  |  | $ 7,309,885 |
[1] | Percentage is based on net assets of $150,700,800 as of December 31, 2023.
[2] | The investment is not a qualifying asset as defined under Section 55(a) of 1940 Act, in a whole, or in part. As of December 31, 2023, non-qualifying assets represented 16.9% of total assets.
[3] | The majority of our investments are domiciled in the United States. Certain investments also have international operations.
[4] | All of our investments are domiciled in the United States. Certain investments also have international operations.
[5] | Non-income producing security.
[6] | Percentage is based on net assets of $146,705,535 as of September 30, 2023.
[7] | Par amount is presented for debt investments and the amount includes accumulated payment-in-kind (“PIK”) interest, as applicable, and is net of repayments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars (“$”) unless otherwise noted.
[8] | Unless otherwise indicated, all securities are valued using significant unobservable inputs, which are categorized as Level 3 assets under the definition of ASC 820 fair value hierarchy (see Note 4).
[9] | Net unrealized depreciation for U.S. federal income tax purposes totaled $35,954,899.The tax cost basis of investments is $258,176,551 as of December 31, 2023.The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.
[10] | Net unrealized depreciation for U.S. federal income tax purposes totaled $(38,550,032).The tax cost basis of investments is $265,010,723 as of September 30, 2023.The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.
[11] | The interest rate on these loans is subject to 1 month SOFR, which as of September 30, 2023 was 5.32%.
[12] | The investment is not a qualifying asset as defined under Section 55(a) of 1940 Act, in a whole, or in part. As of September 30, 2023, non-qualifying assets represented 20.21% of total assets.
[13] | The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month SOFR plus a CSA of 0.262% plus a 4.743% spread on 9/30/2025.
[14] | Affiliated Investments are defined by the 1940 Act as investments in companies in which the Company owns between 5% and 25% outstanding voting securities or is under common control with such portfolio company.
[15] | Control Investments are defined by the Investment Company Act of 1940, as amended (the “1940 Act”), as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation.
[16] | Affiliated Investments are defined by Investment Company Act of 1940 Act, as amended (the “1940 Act”), as investments in companies in which the Company owns between 5% and 25% outstanding voting securities or is under common control with such portfolio company.
[17] | Credit Spread Adjustment (“CSA”)
[18] | The interest rate on these loans is subject to 3 month SOFR, which as of September 30, 2023 was 5.27%.
[19] | The investment was on non-accrual status as of December 31, 2023.
[20] | This investment represents a Level 2 security in the ASC 820 table as of September 30, 2023 (see Note 4).
[21] | The investment has an unfunded commitment as of September 30, 2023 (see Note 8), and fair value includes the value of any unfunded commitments. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan commitment.
[22] | This investment represents a Level 1 security in the ASC 820 table as of September 30, 2023 (see Note 4).
[23] | The interest rate on this investment is fixed-to-floating and will shift to 3 month SOFR plus a CSA of 0.262% plus a 5.379% spread on 3/30/2024.
[24] | Non-income producing security.
[25] | The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month SOFR plus a CSA of 0.262% plus a 5.29% spread on 9/27/2027.
[26] | The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month LIBOR plus a 5.345% spread on 3/31/2025.
[27] | The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month SOFR plus a CSA of 0.262% plus a 6.429% spread on 1/15/2025.
[28] | The investment was on non-accrual status as of September 30, 2023.
[29] | The investment has an unfunded commitment as of December 31, 2023 (see Note 8), and fair value includes the value of any unfunded commitments. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan commitment.
[30] | The interest rate on these loans is subject to 6 month SOFR, which as of September 30, 2023 was 5.17%.
[31] | The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month LIBOR plus a 5.64% spread on 8/15/2024.
[32] | The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2023 was 5.34%.

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