Please wait
NC SLF Inc.
CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED)
September 30, 2025
(dollars in thousands)
                                     
 
Portfolio Company (1) (2)
 
Footnotes
 
Investment
 
Spread Above Reference Rate (3)
 
Interest Rate (3)
 
Maturity Date
 
Par Amount
 
Amortized Cost
 
Fair Value
 
% of Net Assets (5)
Investments
                                      
Debt Investments
                                      
Aerospace and Defense
                                      
PAG Holding Corp. (Precision Aviation Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.80%
  
12/21/2029
  
               4,825
  
                4,790
  
                     4,784
  
0.80%
PAG Holding Corp. (Precision Aviation Group)
  
(4)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
12/21/2029
  
             14,555
  
              14,332
  
                   14,431
  
2.41%
Total Aerospace and Defense
                            
              19,122
  
                   19,215
  
3.21%
                                       
Air Freight & Logistics
                                      
Kenco PPC Buyer LLC
  
(4)
  
First Lien Debt
  
S +
4.75%
  
8.79%
  
11/15/2029
  
             16,196
  
              16,006
  
                   16,120
  
2.70%
Kenco PPC Buyer LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.81%
  
11/15/2029
  
               2,587
  
                2,558
  
                     2,575
  
0.43%
Kenco PPC Buyer LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.81%
  
11/15/2029
  
                  488
  
                     (4)
  
                           (2)
  
0.00%
Total Air Freight & Logistics
                            
              18,560
  
                   18,693
  
3.13%
                                       
Auto Components
                                      
Randys Holdings, Inc. (Randy's Worldwide Automotive)
  
(4) (7)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
11/1/2029
  
             12,764
  
              12,618
  
                   12,562
  
2.10%
Randys Holdings, Inc. (Randy's Worldwide Automotive)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.16%
  
11/1/2029
  
               4,352
  
                3,086
  
                     3,017
  
0.50%
Total Auto Components
                            
              15,704
  
                   15,579
  
2.60%
                                       
Beverages
                                      
Refresh Buyer, LLC (Sunny Sky Products)
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
12/23/2028
  
               3,365
  
                3,342
  
                     3,294
  
0.55%
Refresh Buyer, LLC (Sunny Sky Products)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
12/23/2028
  
                  852
  
                   852
  
                        834
  
0.14%
Total Beverages
                            
                4,194
  
                     4,128
  
0.69%
                                       
Building Products
                                      
Clean Solutions Buyer, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.66%
  
9/9/2030
  
               4,205
  
                4,170
  
                     4,148
  
0.69%
Cobalt Service Partners, LLC
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
10/13/2031
  
             12,460
  
                5,461
  
                     5,401
  
0.91%
Cobalt Service Partners, LLC
  
(4) (7) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
10/13/2031
  
               7,195
  
                7,132
  
                     7,130
  
1.19%
Vertex Service Partners, LLC
  
(4) (10)
  
First Lien Debt
  
S +
6.00%
  
10.00%
  
11/8/2030
  
               2,235
  
                2,209
  
                     2,227
  
0.37%
Vertex Service Partners, LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
6.00%
  
10.00%
  
11/8/2030
  
               4,308
  
                4,302
  
                     4,293
  
0.72%
Vertex Service Partners, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.25%
  
11/8/2030
  
               4,405
  
                   843
  
                        716
  
0.12%
Total Building Products
                            
              24,117
  
                   23,915
  
4.00%
                                       
Chemicals
                                      
Chroma Color Corporation
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.25%
  
8.25%
  
4/23/2029
  
                  662
  
                   658
  
                        653
  
0.11%
Chroma Color Corporation
  
(4)
  
First Lien Debt
  
S +
4.25%
  
8.56%
  
4/23/2029
  
               2,999
  
                2,960
  
                     2,957
  
0.49%
Olympic Buyer, Inc. (Ascensus)
  
(4) (7)
  
First Lien Debt
  
S +
4.35%
  
8.51%
  
6/30/2028
  
             13,891
  
              13,759
  
                   12,192
  
2.04%
Total Chemicals
                            
              17,377
  
                   15,802
  
2.64%
                                       
Commercial Services & Supplies
                                      
FirstCall Mechanical Group, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
6/27/2031
  
             13,057
  
              10,155
  
                   10,080
  
1.69%
FirstCall Mechanical Group, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
6/27/2031
  
               6,485
  
                6,431
  
                     6,441
  
1.08%
Integrated Power Services Holdings, Inc.
  
(4)
  
First Lien Debt
  
S +
4.75%
  
9.03%
  
11/22/2028
  
               4,903
  
                4,885
  
                     4,903
  
0.82%
Olympus US Bidco LLC (Phaidon International)
  
(4) (8)
  
First Lien Debt
  
S +
5.50%
  
9.76%
  
8/22/2029
  
             17,184
  
              17,081
  
                   16,738
  
2.80%
Safety Infrastructure Services Intermediate LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.02%
  
7/21/2028
  
               1,726
  
                   454
  
                        424
  
0.07%
Safety Infrastructure Services Intermediate LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
7/21/2028
  
               3,069
  
                3,046
  
                     3,010
  
0.50%
Total Commercial Services & Supplies
                            
              42,052
  
                   41,596
  
6.96%
                                       
Construction & Engineering
                                      
CLS Management Services, LLC (Contract Land Staff)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.02%
  
3/27/2030
  
               2,176
  
                   648
  
                        635
  
0.11%
CLS Management Services, LLC (Contract Land Staff)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
3/27/2030
  
               3,243
  
                3,217
  
                     3,217
  
0.54%
CLS Management Services, LLC (Contract Land Staff)
  
(4) (10)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.25%
  
3/27/2030
  
               1,304
  
                1,302
  
                     1,293
  
0.22%
ERA Industries, LLC (BTX Precision)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.96%
  
7/25/2030
  
                  513
  
                   234
  
                        232
  
0.04%
ERA Industries, LLC (BTX Precision)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.96%
  
7/25/2030
  
                  388
  
                   387
  
                        385
  
0.06%
ERA Industries, LLC (BTX Precision)
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
9.06%
  
7/25/2030
  
                  362
  
                   359
  
                        360
  
0.06%
ERA Industries, LLC (BTX Precision)
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.91%
  
7/25/2030
  
                  677
  
                   670
  
                        672
  
       0.11%
Heartland Paving Partners, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.00%
  
8/9/2030
  
               5,616
  
                4,992
  
                     4,849
  
0.80%
Heartland Paving Partners, LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.00%
  
8/9/2030
  
               5,609
  
                5,597
  
                     5,454
  
0.90%
Heartland Paving Partners, LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
8/9/2030
  
               8,358
  
                8,287
  
                     8,127
  
1.36%
ICE USA Infrastructure, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
3/15/2030
  
                  791
  
                   784
  
                        764
  
0.13%
ICE USA Infrastructure, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
3/15/2030
  
               2,839
  
                2,816
  
                     2,741
  
0.46%
MEI Buyer LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.16%
  
6/29/2029
  
                  868
  
                   866
  
                        875
  
0.15%
MEI Buyer LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
6/29/2029
  
               5,429
  
                5,352
  
                     5,473
  
0.92%
WSB Engineering Holdings Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.49%
  
8/31/2029
  
             14,508
  
                2,162
  
                     2,075
  
0.35%
WSB Engineering Holdings Inc.
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.70%
  
8/31/2029
  
               3,093
  
                3,061
  
                     3,063
  
0.51%
WSB Engineering Holdings Inc.
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.80%
  
8/31/2029
  
               2,032
  
                2,023
  
                     2,012
  
0.34%
Total Construction & Engineering
                            
              42,757
  
                   42,227
  
7.06%
                                       
Construction Materials
                                      
Java Buyer, Inc. (Sciens Building Solutions, LLC)
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.29%
  
12/15/2027
  
               5,198
  
                5,177
  
                     5,198
  
0.87%
Java Buyer, Inc. (Sciens Building Solutions, LLC)
  
(4) (7)
  
First Lien Debt
  
S +
5.00%
  
9.29%
  
12/15/2027
  
               9,841
  
                9,757
  
                     9,841
  
1.65%
SCIC Buyer, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
3/28/2031
  
               1,352
  
                     (3)
  
                          26
  
0.00%
SCIC Buyer, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
3/28/2031
  
               6,416
  
                6,354
  
                     6,538
  
1.09%
Total Construction Materials
                            
              21,285
  
                   21,603
  
3.61%
                                       
Containers & Packaging
                                      
Impact Parent Corporation (Impact Environmental Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.35%
  
3/23/2029
  
               1,508
  
                1,506
  
                     1,502
  
0.25%
Impact Parent Corporation (Impact Environmental Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.35%
  
3/23/2029
  
               3,255
  
                3,244
  
                     3,240
  
0.54%
Impact Parent Corporation (Impact Environmental Group)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.36%
  
3/23/2029
  
               2,750
  
                1,786
  
                     1,782
  
0.30%
Impact Parent Corporation (Impact Environmental Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.35%
  
3/23/2029
  
               1,667
  
                1,661
  
                     1,660
  
0.28%
Impact Parent Corporation (Impact Environmental Group)
  
(4)
  
First Lien Debt
  
S +
5.25%
  
9.35%
  
3/23/2029
  
               3,569
  
                3,520
  
                     3,553
  
0.59%
Impact Parent Corporation (Impact Environmental Group)
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.35%
  
3/23/2029
  
                  731
  
                   721
  
                        728
  
0.12%
New Spartech Holdings LLC
  
(4)
  
First Lien Debt
  
S +
7.00%
  
11.13%
  
3/31/2030
  
                  959
  
                   941
  
                        959
  
0.16%
New Spartech Holdings LLC
  
(4) (7)
  
First Lien Debt
  
S +
1.00%
  
5.13% (Cash) 4.25% (PIK)
  
9/30/2030
  
               1,588
  
                1,588
  
                     1,588
  
0.27%
Online Labels Group, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.25%
  
12/19/2029
  
                  195
  
                     -
  
                           -
  
0.00%
Online Labels Group, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.25%
  
12/19/2029
  
                  194
  
                     97
  
                          97
  
0.02%
Online Labels Group, LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.25%
  
12/19/2029
  
               1,579
  
                1,567
  
                     1,579
  
0.26%
Pelican Products, Inc.
  
(7) (9)
  
First Lien Debt
  
S +
4.25%
  
8.51%
  
12/29/2028
  
               7,700
  
                7,660
  
                     6,607
  
1.10%
Performance Packaging Buyer, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.63%
  
4/15/2031
  
               3,045
  
                3,016
  
                     3,021
  
0.51%
Total Containers & Packaging
                            
              27,307
  
                   26,316
  
4.40%
                                       
Distributors
                                      
Motion & Control Enterprises LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
6.00%
  
10.17%
  
6/1/2028
  
             10,904
  
              10,901
  
                   10,814
  
1.81%
Motion & Control Enterprises LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
6.00%
  
10.17%
  
6/1/2028
  
               3,961
  
                3,961
  
                     3,929
  
0.66%
Motion & Control Enterprises LLC
  
(4) (10)
  
First Lien Debt
  
S +
6.00%
  
10.17%
  
6/1/2028
  
               3,961
  
                3,931
  
                     3,928
  
0.66%
Motion & Control Enterprises LLC
  
(4) (10)
  
First Lien Debt
  
S +
6.00%
  
10.17%
  
6/1/2028
  
                  546
  
                   543
  
                        542
  
0.09%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)
  
(4)
  
First Lien Debt
  
S +
5.25%
  
9.57%
  
4/4/2029
  
               5,266
  
                5,202
  
                     5,195
  
0.87%
Rhino Intermediate Holding Company, LLC (Rhino Tool House)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.63%
  
4/4/2029
  
               1,056
  
                1,052
  
                     1,041
  
0.17%
Total Distributors
                            
              25,590
  
                   25,449
  
4.26%
                                       
Diversified Consumer Services
                                      
Excel Fitness Holdings, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.25%
  
4/27/2029
  
             11,730
  
              11,647
  
                   11,730
  
1.97%
Excel Fitness Holdings, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.50%
  
9.50%
  
4/27/2029
  
               1,031
  
                   199
  
                        205
  
0.03%
Total Diversified Consumer Services
                            
              11,846
  
                   11,935
  
2.00%
                                       
Diversified Financial Services
                                      
Ascend Partner Services LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.65%
  
8/11/2031
  
             12,429
  
                9,409
  
                     9,339
  
1.56%
Ascend Partner Services LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.54%
  
8/11/2031
  
               7,193
  
                7,132
  
                     7,123
  
1.19%
Cohen Advisory, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.79%
  
12/31/2031
  
               2,100
  
                     85
  
                          94
  
0.02%
Cohen Advisory, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.50%
  
12/31/2031
  
               3,752
  
                3,719
  
                     3,752
  
0.63%
KRIV Acquisition, Inc. (Riveron)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
7/31/2031
  
             11,100
  
              10,864
  
                   11,030
  
1.84%
Sagebrush Buyer, LLC (Province)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
7/1/2030
  
               1,947
  
                1,931
  
                     1,930
  
0.32%
Smith & Howard Advisory LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
3.75%
  
9.00%
  
11/26/2030
  
               1,021
  
                   971
  
                        953
  
0.16%
Smith & Howard Advisory LLC
  
(4) (10)
  
First Lien Debt
  
S +
3.75%
  
9.06%
  
11/26/2030
  
               1,263
  
                1,252
  
                     1,238
  
0.21%
Vensure Employer Services, Inc.
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.00%
  
9/27/2031
  
               1,029
  
                     (4)
  
                           -
  
0.00%
Vensure Employer Services, Inc.
  
(4) (7)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
9/27/2031
  
             14,566
  
              14,457
  
                   14,565
  
2.43%
Total Diversified Financial Services
                            
              49,816
  
                   50,024
  
8.36%
                                       
Diversified Telecommunication Services
                                      
Sapphire Telecom, Inc.
  
(4)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
6/27/2029
  
               8,225
  
                8,160
  
                     8,257
  
1.38%
Total Diversified Telecommunication Services
                            
                8,160
  
                     8,257
  
1.38%
                                       
Electric Utilities
                                      
Industrial Air Flow Dynamics, Inc.
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.00%
  
8/14/2030
  
               1,673
  
                     -
  
                           (8)
  
0.00%
Industrial Air Flow Dynamics, Inc.
  
(4) (7) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
8/14/2030
  
               6,357
  
                6,325
  
                     6,328
  
1.06%
Total Electric Utilities
                            
                6,325
  
                     6,320
  
1.06%
                                       
Electrical Equipment
                                      
Matador US Buyer, LLC (Insulation Technology Group)
  
(4) (8)
  
First Lien Debt
  
S +
5.50%
  
9.66%
  
6/25/2030
  
               9,658
  
                9,577
  
                     9,621
  
1.60%
Matador US Buyer, LLC (Insulation Technology Group)
  
(4) (6) (8)
  
First Lien Debt (Delayed Draw)
  
S +
5.50%
  
9.66%
  
6/25/2030
  
               2,555
  
                2,433
  
                     2,423
  
0.41%
RMS Energy Borrower LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.50%
  
9/30/2032
  
               1,181
  
                     (3)
  
                           (5)
  
0.00%
RMS Energy Borrower LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.50%
  
9/30/2032
  
               6,498
  
                6,466
  
                     6,469
  
1.08%
Total Electrical Equipment
                            
              18,473
  
                   18,508
  
3.09%
                                       
Electronic Equipment, Instruments & Components
                                      
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)
  
(4) (10)
  
First Lien Debt (Delayed Draw)
  
S +
5.50%
  
9.85%
  
1/19/2029
  
               1,708
  
                1,676
  
                     1,681
  
0.28%
INS Intermediate II, LLC (Ergotech DBA Industrial Networking Solutions)
  
(4) (10)
  
First Lien Debt
  
S +
5.50%
  
9.85%
  
1/19/2029
  
               8,403
  
                8,309
  
                     8,272
  
1.38%
Total Electronic Equipment, Instruments & Components
                            
                9,985
  
                     9,953
  
1.66%
                                       
Energy Equipment & Services
                                      
Ovation Holdings, Inc
  
(4)
  
First Lien Debt
  
S +
5.00%
  
9.31%
  
2/4/2030
  
               6,907
  
                6,814
  
                     6,901
  
1.15%
Ovation Holdings, Inc
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.31%
  
2/4/2030
  
               1,634
  
                1,621
  
                     1,633
  
0.27%
Ovation Holdings, Inc
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.00%
  
2/4/2030
  
               3,420
  
                2,818
  
                     2,844
  
0.48%
Ovation Holdings, Inc
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.31%
  
2/4/2030
  
                  410
  
                   406
  
                        409
  
0.07%
SI Solutions, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.88%
  
8/15/2030
  
               5,129
  
                5,087
  
                     5,110
  
0.85%
SI Solutions, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
8/15/2030
  
               2,437
  
                   481
  
                        477
  
0.08%
SI Solutions, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
8/15/2030
  
               2,270
  
                2,260
  
                     2,261
  
0.38%
Total Energy Equipment & Services
                            
              19,487
  
                   19,635
  
3.28%
                                       
Food Products
                                      
AmerCareRoyal, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.16%
  
9/10/2030
  
               3,257
  
                     -
  
                         (91)
  
-0.02%
AmerCareRoyal, LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
9/10/2030
  
             14,078
  
              13,959
  
                   13,683
  
2.29%
AmerCareRoyal, LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.16%
  
9/10/2030
  
               2,242
  
                2,233
  
                     2,179
  
0.36%
Commercial Bakeries Corp.
  
(4) (8) (10)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
9/25/2029
  
               1,842
  
                1,830
  
                     1,808
  
0.30%
Commercial Bakeries Corp.
  
(4) (8) (10)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
9/25/2029
  
                  875
  
                   869
  
                        858
  
0.14%
Commercial Bakeries Corp.
  
(4) (8) (10)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
9/25/2029
  
               7,283
  
                7,180
  
                     7,147
  
1.20%
FoodScience, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.43%
  
11/14/2031
  
               2,748
  
                   901
  
                        869
  
0.15%
FoodScience, LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.12%
  
11/14/2031
  
               2,561
  
                2,538
  
                     2,525
  
0.42%
Nellson Nutraceutical, LLC
  
(4) (7)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
4/17/2031
  
             11,493
  
              11,382
  
                   11,384
  
1.90%
Nellson Nutraceutical, LLC
  
(4) (7) (10)
  
First Lien Debt
  
S +
5.75%
  
9.75%
  
4/17/2031
  
               7,612
  
                7,539
  
                     7,540
  
1.26%
Nellson Nutraceutical, LLC
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.75%
  
9.75%
  
4/17/2031
  
                  595
  
                     (1)
  
                           (6)
  
0.00%
Sugar PPC Buyer LLC (Sugar Foods)
  
(4) (7) (10)
  
First Lien Debt
  
S +
4.75%
  
9.07%
  
10/2/2031
  
               5,782
  
                5,675
  
                     5,782
  
0.97%
Sugar PPC Buyer LLC (Sugar Foods)
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
9.07%
  
10/2/2031
  
               1,606
  
                1,592
  
                     1,606
  
0.27%
Total Food Products
                            
              55,697
  
                   55,284
  
9.24%
                                       
Gas Utilities
                                      
DH United Holdings, LLC (D&H United Fueling Solutions)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.18%
  
9/15/2028
  
               7,174
  
                7,095
  
                     7,046
  
1.17%
DH United Holdings, LLC (D&H United Fueling Solutions)
  
(4) (10)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.32%
  
9/15/2028
  
               2,283
  
                2,272
  
                     2,243
  
0.38%
DH United Holdings, LLC (D&H United Fueling Solutions)
  
(4) (10)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.32%
  
9/15/2028
  
               1,074
  
                1,071
  
                     1,054
  
0.18%
DH United Holdings, LLC (D&H United Fueling Solutions)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.15%
  
9/15/2028
  
               2,368
  
                2,338
  
                     2,326
  
0.39%
DH United Holdings, LLC (D&H United Fueling Solutions)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.45%
  
9/15/2028
  
               2,838
  
                2,383
  
                     2,342
  
0.39%
DH United Holdings, LLC (D&H United Fueling Solutions)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.47%
  
9/15/2028
  
               1,402
  
                     (5)
  
                         (25)
  
0.00%
Total Gas Utilities
                            
              15,154
  
                   14,986
  
2.51%
                                       
Health Care Equipment & Supplies
                                      
ACP Maverick Holdings, Inc. 
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
3/18/2031
  
               3,582
  
                   (16)
  
                         (32)
  
-0.01%
ACP Maverick Holdings, Inc. 
  
(4) (7) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
3/18/2031
  
             16,038
  
              15,885
  
                   15,893
  
2.66%
Bridges Consumer Healthcare Intermediate LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.45%
  
12/22/2031
  
               1,196
  
                   951
  
                        938
  
0.16%
Bridges Consumer Healthcare Intermediate LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.45%
  
12/22/2031
  
               2,099
  
                   (10)
  
                         (32)
  
-0.01%
Bridges Consumer Healthcare Intermediate LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.25%
  
12/22/2031
  
               2,512
  
                2,489
  
                     2,474
  
0.41%
HMN Acquirer Corp.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.50%
  
11/5/2031
  
               1,056
  
                     (2)
  
                         (16)
  
0.00%
HMN Acquirer Corp.
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.50%
  
11/5/2031
  
               2,850
  
                2,825
  
                     2,807
  
0.47%
Impact Advisors, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.50%
  
3/19/2032
  
               7,010
  
                   (33)
  
                          10
  
0.00%
Impact Advisors, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.50%
  
3/19/2032
  
             12,555
  
              12,434
  
                   12,573
  
      2.10%
Tidi Legacy Products, Inc.
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.66%
  
12/19/2029
  
               1,972
  
                     -
  
                          20
  
0.00%
Tidi Legacy Products, Inc.
  
(4) (7) (10)
  
First Lien Debt
  
S +
4.50%
  
8.66%
  
12/19/2029
  
               7,364
  
                7,309
  
                     7,438
  
1.25%
YI, LLC (Young Innovations)
  
(4) (7)
  
First Lien Debt
  
S +
5.75%
  
9.90%
  
12/3/2029
  
             11,076
  
              10,994
  
                   10,851
  
1.82%
Total Health Care Equipment & Supplies
                            
              52,826
  
                   52,924
  
8.85%
                                       
Health Care Providers & Services
                                      
AB Centers Acquisition Corporation
  
(4)
  
First Lien Debt
  
S +
5.25%
  
9.47%
  
7/2/2031
  
             10,009
  
                9,972
  
                     9,930
  
1.67%
AB Centers Acquisition Corporation (Action Behavior Centers)
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.47%
  
7/2/2031
  
               6,771
  
                6,713
  
                     6,718
  
1.12%
AB Centers Acquisition Corporation (Action Behavior Centers)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.47%
  
7/2/2031
  
               1,237
  
                   442
  
                        434
  
0.07%
AB Centers Acquisition Corporation (Action Behavior Centers)
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.41%
  
7/2/2031
  
               1,660
  
                1,653
  
                     1,647
  
0.28%
Bluebird PM Buyer, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
2/3/2032
  
                  502
  
                     (1)
  
                            1
  
0.00%
Bluebird PM Buyer, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
2/3/2032
  
               3,662
  
                3,630
  
                     3,672
  
0.61%
Dermatology Intermediate Holdings III, Inc. (Forefront Dermatology)
  
(7) (9) (10)
  
First Lien Debt
  
S +
4.25%
  
8.56%
  
3/30/2029
  
               4,522
  
                4,477
  
                     4,274
  
0.71%
Eyesouth Eye Care Holdco LLC
  
(4)
  
First Lien Debt
  
S +
5.50%
  
9.76%
  
10/5/2029
  
               7,627
  
                7,518
  
                     7,505
  
1.25%
Eyesouth Eye Care Holdco LLC
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.50%
  
9.76%
  
10/5/2029
  
               2,501
  
                2,501
  
                     2,461
  
0.41%
JKC Buyer, Inc. (J. Knipper and Company Inc)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.23%
  
2/13/2032
  
               2,637
  
                2,615
  
                     2,639
  
0.44%
JKC Buyer, Inc. (J. Knipper and Company Inc)
  
(4) (10)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.23%
  
2/13/2032
  
                  913
  
                   909
  
                        913
  
0.15%
OMERS Relief Acquisition, LLC (Gastro Health)
  
(4)
  
First Lien Debt
  
S +
4.50%
  
8.78%
  
7/3/2028
  
               8,101
  
                8,075
  
                     8,049
  
1.35%
Promptcare Infusion Buyer, Inc.
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
6.00%
  
10.38%
  
9/1/2027
  
               1,244
  
                   618
  
                        616
  
0.10%
Promptcare Infusion Buyer, Inc.
  
(4) (7)
  
First Lien Debt
  
S +
6.00%
  
10.39%
  
9/1/2027
  
               9,049
  
                9,037
  
                     9,034
  
1.51%
Promptcare Infusion Buyer, Inc.
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
6.00%
  
10.38%
  
9/1/2027
  
               1,410
  
                1,409
  
                     1,407
  
0.24%
Sandlot Buyer, LLC (Prime Time Healthcare)
  
(4)
  
First Lien Debt
  
S +
6.25%
  
10.55%
  
9/19/2028
  
             15,667
  
              15,391
  
                   15,420
  
2.58%
VMG Holdings LLC (VMG Health)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
4/16/2030
  
               6,866
  
                6,810
  
                     6,809
  
1.14%
VMG Holdings LLC (VMG Health)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
4/16/2030
  
                  493
  
                   489
  
                        489
  
0.08%
Total Health Care Providers & Services
                            
              82,258
  
                   82,018
  
13.71%
                                       
Hotels, Restaurants & Leisure
                                      
Davidson Hotel Company LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.16%
  
10/31/2031
  
                  458
  
                     17
  
                          23
  
0.00%
Davidson Hotel Company LLC
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
10/31/2031
  
               1,374
  
                1,362
  
                     1,388
  
0.24%
Total Hotels, Restaurants & Leisure
                            
                1,379
  
                     1,411
  
0.24%
                                       
Household Durables
                                      
AMS Parent, LLC (All My Sons)
  
(9) (10)
  
First Lien Debt
  
S +
4.75%
  
9.03%
  
10/25/2028
  
               5,741
  
                5,712
  
                     5,425
  
0.91%
Total Household Durables
                            
                5,712
  
                     5,425
  
0.91%
                                       
Household Products
                                      
DRS Holdings III, Inc.
  
(4) (7) (10)
  
First Lien Debt
  
S +
5.25%
  
9.41%
  
11/1/2028
  
               1,260
  
                1,254
  
                     1,254
  
0.21%
MPG Parent Holdings, LLC (Market Performance Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.29%
  
1/8/2030
  
               1,473
  
                1,473
  
                     1,477
  
0.25%
MPG Parent Holdings, LLC (Market Performance Group)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.21%
  
1/8/2030
  
               2,165
  
                   234
  
                        244
  
0.04%
MPG Parent Holdings, LLC (Market Performance Group)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.30%
  
1/8/2030
  
               6,002
  
                5,956
  
                     6,018
  
1.00%
Total Household Products
                            
                8,917
  
                     8,993
  
1.50%
                                       
Industrial Conglomerates
                                      
ISG Enterprises, LLC (Industrial Service Group)
  
(4)
  
First Lien Debt
  
S +
5.75%
  
10.06%
  
12/7/2028
  
               5,608
  
                5,541
  
                     5,486
  
0.92%
ISG Enterprises, LLC (Industrial Service Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.75%
  
10.06%
  
12/7/2028
  
               2,920
  
                2,913
  
                     2,857
  
0.48%
ISG Enterprises, LLC (Industrial Service Group)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.75%
  
10.06%
  
12/7/2028
  
             10,309
  
              10,306
  
                   10,085
  
1.68%
Total Industrial Conglomerates
                            
              18,760
  
                   18,428
  
3.08%
                                       
Insurance
                                      
Patriot Growth Insurance Services, LLC
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.15%
  
10/16/2028
  
               8,808
  
                8,760
  
                     8,676
  
1.45%
Total Insurance
                            
                8,760
  
                     8,676
  
1.45%
                                       
Internet and Direct Marketing Retail
                                      
XpressMyself.com LLC (SmartSign)
  
(4)
  
First Lien Debt
  
S +
5.50%
  
9.67%
  
9/7/2028
  
               7,178
  
                7,141
  
                     7,178
  
1.20%
XpressMyself.com LLC (SmartSign)
  
(4)
  
First Lien Debt
  
S +
5.75%
  
9.91%
  
9/7/2028
  
               2,632
  
                2,600
  
                     2,632
  
0.44%
Total Internet and Direct Marketing Retail
                            
                9,741
  
                     9,810
  
1.64%
                                       
IT Services
                                      
360 Holdco, Inc. (360 Training)
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.16%
  
8/2/2028
  
               1,485
  
                1,475
  
                     1,485
  
0.25%
360 Holdco, Inc. (360 Training)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.16%
  
8/2/2028
  
               1,346
  
                     -
  
                           -
  
0.00%
Redwood Services Group, LLC (Evergreen Services Group)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.26%
  
6/15/2029
  
               4,767
  
                1,594
  
                     1,614
  
0.27%
Redwood Services Group, LLC (Evergreen Services Group)
  
(4) (7)
  
First Lien Debt
  
S +
5.25%
  
9.26%
  
6/15/2029
  
             12,654
  
              12,510
  
                   12,654
  
2.11%
Redwood Services Group, LLC (Evergreen Services Group)
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.26%
  
6/15/2029
  
               2,137
  
                2,124
  
                     2,137
  
0.36%
Total IT Services
                            
              17,703
  
                   17,890
  
2.99%
                                       
Leisure Products
                                      
TouchTunes Music Group, LLC (TouchTunes Interactive Network)
  
(4)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
4/2/2029
  
               7,442
  
                7,396
  
                     7,442
  
1.24%
Total Leisure Products
                            
                7,396
  
                     7,442
  
1.24%
                                       
Machinery
                                      
Hyperion Materials & Technologies, Inc.
  
(4)
  
First Lien Debt
  
S +
4.50%
  
8.87%
  
8/30/2028
  
               4,174
  
                4,168
  
                     4,086
  
0.69%
Jetson Buyer, Inc. (E-Technologies Group, Inc.)
  
(4) (10)
  
First Lien Debt
  
S +
5.50%
  
9.50%
  
4/9/2030
  
               3,144
  
                3,118
  
                     3,061
  
0.51%
Total Machinery
                            
                7,286
  
                     7,147
  
1.20%
                                       
Personal Products
                                      
Bradford Soap International, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.91%
  
8/28/2031
  
                  990
  
                     -
  
                           (5)
  
0.00%
Bradford Soap International, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.91%
  
8/28/2031
  
               2,971
  
                2,956
  
                     2,957
  
0.49%
Healthspan Buyer, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.75%
  
10/16/2030
  
               5,845
  
                   (14)
  
                         (26)
  
0.00%
Healthspan Buyer, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
10/16/2030
  
               6,063
  
                6,033
  
                     6,037
  
1.01%
Healthspan Buyer, LLC (Thorne HealthTech)
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
10/16/2030
  
               2,684
  
                2,673
  
                     2,672
  
0.45%
Healthspan Buyer, LLC (Thorne HealthTech)
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
10/16/2030
  
               5,053
  
                5,014
  
                     5,031
  
0.84%
Total Personal Products
                            
              16,662
  
                   16,666
  
2.79%
                                       
Pharmaceuticals
                                      
Lavie Group, Inc.
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.32%
  
10/10/2029
  
                  321
  
                     (1)
  
                           (3)
  
0.00%
Lavie Group, Inc.
  
(4) (7) (10)
  
First Lien Debt
  
S +
5.00%
  
9.17%
  
10/12/2029
  
               1,196
  
                1,185
  
                     1,185
  
0.20%
Lavie Group, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.32%
  
10/12/2029
  
                  744
  
                     (3)
  
                           (7)
  
0.00%
Lavie Group, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.32%
  
10/12/2029
  
               2,529
  
                2,505
  
                     2,506
  
0.42%
Wellspring Pharmaceutical Corporation
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.27%
  
8/22/2028
  
               5,395
  
                5,380
  
                     5,395
  
0.90%
Wellspring Pharmaceutical Corporation
  
(4)
  
First Lien Debt
  
S +
5.00%
  
9.27%
  
8/22/2028
  
               2,598
  
                2,567
  
                     2,598
  
0.43%
Wellspring Pharmaceutical Corporation
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.27%
  
8/22/2028
  
               1,543
  
                1,537
  
                     1,543
  
0.26%
Wellspring Pharmaceutical Corporation
  
(4) (10)
  
First Lien Debt
  
S +
5.00%
  
9.27%
  
8/22/2028
  
               3,159
  
                3,144
  
                     3,159
  
0.53%
Wellspring Pharmaceutical Corporation
  
(4)
  
First Lien Debt
  
S +
5.00%
  
9.27%
  
8/22/2028
  
               3,109
  
                3,075
  
                     3,109
  
0.52%
Total Pharmaceuticals
                            
              19,389
  
                   19,485
  
3.26%
                                       
Professional Services
                                      
AG Group Holdings, Inc. (Addison Group)
  
(9)
  
First Lien Debt
  
S +
4.25%
  
8.41%
  
12/29/2028
  
               5,475
  
                5,474
  
                     4,864
  
0.81%
ALKU Intermediate Holdings, LLC
  
(4)
  
First Lien Debt
  
S +
6.25%
  
10.25%
  
5/23/2029
  
               3,907
  
                3,853
  
                     3,892
  
0.65%
All4 Buyer, LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.50%
  
8.82%
  
1/23/2032
  
               1,038
  
                     (5)
  
                         (10)
  
0.00%
All4 Buyer, LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.50%
  
8.82%
  
1/23/2032
  
               1,239
  
                1,228
  
                     1,228
  
0.21%
Archer Acquisition, LLC (ARMstrong)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.85%
  
10/8/2029
  
                  453
  
                   113
  
                        112
  
0.02%
Archer Acquisition, LLC (ARMstrong)
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.85%
  
10/8/2029
  
               3,294
  
                3,257
  
                     3,266
  
0.55%
Cornerstone Advisors of Arizona, LLC
  
(4) (7) (10)
  
First Lien Debt
  
S +
4.75%
  
8.75%
  
5/13/2032
  
               8,700
  
                8,657
  
                     8,653
  
1.45%
KENG Acquisition, Inc. (Enagage PEO)
  
(4) (7) (10)
  
First Lien Debt
  
S +
5.00%
  
9.31%
  
8/1/2029
  
               4,586
  
                4,535
  
                     4,549
  
0.76%
KENG Acquisition, Inc. (Enagage PEO)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.31%
  
8/1/2029
  
               4,462
  
                2,765
  
                     2,736
  
0.46%
KENG Acquisition, Inc. (Enagage PEO)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.31%
  
8/1/2029
  
               2,851
  
                     (5)
  
                         (23)
  
0.00%
KENG Acquisition, Inc. (Engage PEO)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.31%
  
8/1/2029
  
               5,347
  
                   (22)
  
                         (43)
  
-0.01%
LSCS Holdings, Inc. (Dohmen)
  
(4) (7) (10)
  
First Lien Debt
  
S +
4.50%
  
8.50%
  
3/4/2032
  
               2,534
  
                2,521
  
                     2,529
  
0.42%
Orion Group FM Holdings, LLC (Leo Facilities)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.57%
  
7/3/2029
  
               5,488
  
                     -
  
                           -
  
0.00%
Orion Group FM Holdings, LLC (Leo Facilities)
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.25%
  
7/3/2029
  
                  644
  
                   638
  
                        644
  
0.11%
Orion Group FM Holdings, LLC (Leo Facilities)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.54%
  
7/3/2029
  
               5,774
  
                4,251
  
                     4,259
  
0.71%
Orion Group FM Holdings, LLC (Leo Facilities)
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.25%
  
7/3/2029
  
               7,616
  
                7,533
  
                     7,616
  
1.27%
Secretariat Advisors LLC
  
(4) (10)
  
First Lien Debt
  
S +
4.00%
  
8.00%
  
2/28/2032
  
               3,270
  
                3,255
  
                     3,254
  
0.54%
Secretariat Advisors LLC
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.00%
  
8.00%
  
2/28/2032
  
                  396
  
                     -
  
                           (2)
  
0.00%
Total Professional Services
                            
              48,048
  
                   47,524
  
7.95%
                                       
Road & Rail
                                      
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.41%
  
2/14/2031
  
               1,468
  
                     -
  
                         (12)
  
0.00%
EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC)
  
(4) (7) (10)
  
First Lien Debt
  
S +
5.25%
  
9.41%
  
2/14/2031
  
               5,060
  
                5,021
  
                     5,017
  
0.84%
Total Road & Rail
                            
                5,021
  
                     5,005
  
0.84%
                                       
Software
                                      
Businessolver.com, Inc.
  
(4) (7)
  
First Lien Debt
  
S +
5.50%
  
9.60%
  
12/1/2027
  
               8,667
  
                8,631
  
                     8,667
  
1.44%
Businessolver.com, Inc.
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.50%
  
9.60%
  
12/1/2027
  
               1,301
  
                1,063
  
                     1,066
  
0.18%
Diligent Corporation (fka Diamond Merger Sub II, Corp.)
  
(4) (7)
  
First Lien Debt
  
S +
5.00%
  
9.20%
  
8/2/2030
  
               2,515
  
                2,505
  
                     2,487
  
0.42%
Diligent Corporation (fka Diamond Merger Sub II, Corp.)
  
(4) (7)
  
First Lien Debt
  
S +
5.00%
  
9.20%
  
8/2/2030
  
             14,670
  
              14,612
  
                   14,506
  
2.42%
Diligent Corporation (fka Diamond Merger Sub II, Corp.)
  
(4) (6) (7)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.20%
  
8/2/2030
  
               2,515
  
                   (10)
  
                         (28)
  
0.00%
Exterro, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.25%
  
9.57%
  
6/1/2027
  
                  708
  
                     -
  
                           (3)
  
0.00%
Exterro, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.25%
  
6/1/2027
  
               2,214
  
                2,203
  
                     2,203
  
0.37%
Revalize Inc. (f/k/a AQ Holdco Inc.)
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.90% (Cash) 1.75% (PIK)
  
4/16/2029
  
               1,265
  
                1,261
  
                     1,171
  
0.20%
Revalize Inc. (f/k/a AQ Holdco Inc.)
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.90% (Cash) 1.75% (PIK)
  
4/16/2029
  
                  280
  
                   280
  
                        260
  
0.04%
Revalize Inc. (f/k/a AQ Holdco Inc.)
  
(4) (7)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.90% (Cash) 1.75% (PIK)
  
4/16/2029
  
               4,925
  
                4,920
  
                     4,560
  
0.76%
VALIDITY INC
  
(4) (10)
  
First Lien Debt
  
S +
5.25%
  
9.58%
  
4/12/2032
  
               3,067
  
                3,038
  
                     3,049
  
0.51%
Total Software
                            
              38,503
  
                   37,938
  
6.34%
                                       
Transportation Infrastructure
                                      
FSK Pallet Holding Corp. (Kamps Pallets)
  
(4) (10)
  
First Lien Debt
  
S +
6.00%
  
10.46%
  
12/23/2026
  
               8,135
  
                8,083
  
                     7,991
  
1.34%
Transit Buyer, LLC (Propark Mobility)
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.03%
  
1/31/2029
  
               2,803
  
                   (13)
  
                           -
  
0.00%
Transit Buyer, LLC (Propark Mobility)
  
(4)
  
First Lien Debt
  
S +
5.00%
  
9.00%
  
1/31/2029
  
               5,790
  
                5,737
  
                     5,790
  
0.97%
Transit Buyer, LLC (Propark Mobility)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.00%
  
1/31/2029
  
               2,665
  
                2,633
  
                     2,665
  
0.45%
Transit Buyer, LLC (Propark Mobility)
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
5.00%
  
9.03%
  
1/31/2029
  
               4,395
  
                4,387
  
                     4,395
  
0.73%
Total Transportation Infrastructure
                            
              20,827
  
                   20,841
  
3.49%
                                       
Wireless Telecommunication Services
                                      
Mobile Communications America, Inc.
  
(4) (6)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.90%
  
10/16/2029
  
               3,259
  
                   265
  
                        245
  
0.04%
Mobile Communications America, Inc.
  
(4)
  
First Lien Debt (Delayed Draw)
  
S +
4.75%
  
8.74%
  
10/16/2029
  
               2,068
  
                2,057
  
                     2,055
  
0.34%
Mobile Communications America, Inc.
  
(4) (10)
  
First Lien Debt
  
S +
4.75%
  
8.90%
  
10/16/2029
  
               8,779
  
                8,693
  
                     8,725
  
1.46%
Total Wireless Telecommunication Services
                            
              11,015
  
                   11,025
  
1.84%
                                       
Total Debt Investments
                            
            833,211
  
                 828,073
  
138.46%
                                       
Equity Investments
                    
Acquisition Date
                
                                       
Containers & Packaging
                                      
New Spartech Holdings LLC
  
(4)
  
Common Units
            
6/6/2025
  
           209,000
  
                1,059
  
                        755
  
0.13%
Total Containers & Packaging
                            
                1,059
  
                        755
  
0.13%
                                       
Total Equity Investments
                            
                1,059
  
                        755
  
0.13%
                                       
Cash Equivalents
                                      
BlackRock Liquidity Funds T-Fund Institutional Class
                
4.00%
      
      18,414,258
  
              18,414
  
                   18,414
  
3.08%
First American Government Obligations Fund
                
4.00%
      
               2,717
  
                       3
  
                            3
  
0.00%
Total Cash Equivalents
                            
              18,417
  
                   18,417
  
3.08%
                                     
 
Total Investments
                            
 $      852,687
  
 $            847,245
  
141.67%
                                       
(1) All investments are non-controlled/non-affiliated investments as defined by the Investment Company Act of 1940, as amended (the "1940 Act"). The 1940 Act classifies investments based on the level of control that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when the Company owns 25% or less of the portfolio company’s voting securities and “controlled” when the Company owns more than 25% of the portfolio company’s voting securities. The 1940 Act also classifies investments further based on the level of ownership that the Company maintains in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when the Company owns less than 5% of a portfolio company’s voting securities and “affiliated” when the Company owns 5% or more of a portfolio company’s voting securities.
(2) Unless otherwise indicated, issuers of debt held by the Company are domiciled in the United States.
(3) The majority of the investments bear interest at rates that may be determined by reference to Secured Overnight Financing Rate ("SOFR" or "S"), which reset monthly or quarterly. For each such investment, the Company has provided the spread over SOFR and the current contractual interest rate in effect at September 30, 2025. As of September 30, 2025, the rate for 1M S, 3M S, 6M S and 12M S are 4.13%, 3.98%, 3.85% and 3.66% respectively. Certain investments are subject to a SOFR floor. For fixed rate loans, a spread above a reference rate is not applicable.
(4) Investment valued using unobservable inputs (Level 3).
(5) Percentage is based on net assets of $598,055 as of September 30, 2025
(6) Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion.The investment may be subject to unused commitment fees.
(7) Investment is a unitranche position.
(8) This portfolio company is not domiciled in the United States.  The principal place of business for Phaidon International is the United Kingdom. The principal place of business for Commercial Bakeries is Canada. The principal place of business for Insulation Technology Group is Germany.
(9) Investments valued using observable inputs (Level 2)
(10) Denotes that all or a portion of the assets are owned by SPV I. SPV I entered into a loan and security agreement (the “ABL Facility”) on April 27, 2023. The lenders of the ABL Facility have a first lien security interest in substantially all of the assets of SPV I. Accordingly, such assets are not available to creditors of the Company.