Consolidated Schedule of Investments in and Advances to Affiliates

v3.26.1

Consolidated Schedule of Investments in and Advances to Affiliates	3 Months Ended
	Mar. 31, 2026
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Consolidated Schedule of Investments in and Advances to Affiliates	Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Majority-Owned Investments BDB Holdings, LLC Preferred Equity (7) $ —  $ (4,860) $ —  $ 12,640  $ —  $ 4,860  $ 7,780  12.00% Secured Debt (7) —  —  53  1,773  —  —  1,773  Bettercloud, Inc. SF+ 8.25% Secured Debt (6) —  —  310  6,017  2,307  8,324  —  Common Equity (6) (5,704) 1,200  —  15,690  1,200  16,890  —  Brewer Crane Holdings, LLC 13.79% SF+ 10.00% Secured Debt (9) —  —  173  5,016  —  —  5,016  Preferred Member Units (9) —  (490) 30  3,460  —  490  2,970  15.00% 15.00% Preferred Member Units (9) —  —  12  336  12  —  348  California Splendor Holdings LLC 14.00% Secured Debt (9) —  (249) 905  25,638  2  249  25,391  Secured Debt (9) —  —  1  (11) 1  —  (10) Preferred Member Units (9) —  (4,410) —  12,801  —  4,410  8,391  15.00% 15.00% Preferred Member Units (9) —  —  539  12,569  3,538  —  16,107  Clad-Rex Steel, LLC Secured Debt (12) (5) —  —  9  —  —  —  —  10.00% Secured Debt (5) —  (6) 239  9,480  6  246  9,240  10.00% Secured Debt (5) —  —  23  929  —  12  917  Member Units (5) —  770  423  14,120  770  —  14,890  Member Units (5) —  240  —  1,270  240  —  1,510  Cody Pools, Inc. Secured Debt (12) (8) —  5  27  —  1,685  1,685  —  12.50% Secured Debt (8) —  (39) 1,111  34,901  40  681  34,260  Preferred Member Units (8) —  (790) 389  65,060  —  790  64,270  CompareNetworks Topco, LLC 14.79% SF+ 11.00% Secured Debt (9) —  (58) 150  4,031  1  96  3,936  Preferred Member Units (9) —  (3,750) —  7,650  —  3,750  3,900  Compass Systems & Sales, LLC Secured Debt (5) —  —  1  (15) 1  —  (14) 13.50% Secured Debt (5) —  —  591  16,961  15  1,000  15,976  Preferred Equity (5) —  270  60  7,180  270  —  7,450  Cybermedia Technologies, LLC Secured Debt (6) —  —  3  —  —  —  —  13.00% Secured Debt (6) —  —  889  27,076  16  400  26,692  Preferred Member Units (6) —  4,050  63  —  4,050  —  4,050  Preferred Equity (6) —  570  —  6,340  570  —  6,910  Datacom, LLC 7.50% Secured Debt (8) —  —  13  675  135  135  675  10.00% Secured Debt (8) —  (1,015) 194  4,169  —  1,083  3,086  Preferred Member Units (8) —  —  —  —  —  —  —  Direct Marketing Solutions, Inc. Secured Debt (12) (9) —  27  134  1,785  1,615  3,400  —  Secured Debt (9) —  (3) 281  23,082  —  23,082  —  14.00% Secured Debt (9) —  338  1,696  —  43,857  —  43,857  Preferred Stock (9) —  4,434  —  19,760  9,234  160  28,834  Gamber-Johnson Holdings, LLC 11.19% SF+ 7.50% Secured Debt (5) —  —  17  —  1,600  —  1,600  11.19% SF+ 7.50% Secured Debt (5) —  12  2,176  70,526  4,440  —  74,966  Member Units (5) —  4,020  1,098  113,810  4,020  —  117,830  Member Units (5) —  —  —  396  —  92  304  Garreco, LLC Member Units (8) —  (110) —  1,830  —  110  1,720  GRT Rubber Technologies LLC 9.79% SF+ 6.00% Secured Debt (8) —  (1) 78  3,146  1  1  3,146  11.79% SF+ 8.00% Secured Debt (8) —  (12) 1,207  40,493  12  12  40,493  Member Units (8) —  (2,350) 1,008  46,360  —  2,350  44,010  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) IG Investor, LLC 13.00% Secured Debt (12) (6) —  (2) 51  1,600  2  802  800  13.00% Secured Debt (6) —  (21) 1,140  35,064  21  821  34,264  Common Equity (6) —  730  —  28,030  730  —  28,760  Jensen Jewelers of Idaho, LLC P+ 6.75% Secured Debt (12) (9) —  —  —  —  —  —  —  13.50% P+ 6.75% Secured Debt (9) —  —  30  878  —  150  728  Member Units (9) —  620  301  11,540  620  —  12,160  MSC Adviser I, LLC Member Units (8) —  (21,960) 2,868  255,020  —  21,960  233,060  NRP Jones, LLC 12.00% Secured Debt (5) —  (105) —  474  —  104  370  Member Units (5) —  —  —  —  —  —  —  Member Units (5) —  —  —  —  —  —  —  Preferred Equity (5) —  —  —  —  —  —  —  Common Equity (5) —  —  —  928  —  —  928  OMi Topco, LLC 12.00% Secured Debt (8) —  (3) 873  29,000  3  3  29,000  Preferred Member Units (8) —  1,140  3,083  77,900  1,140  —  79,040  Principle Environmental, LLC 13.00% Secured Debt (8) —  (5) 164  4,897  5  5  4,897  Preferred Member Units (8) —  —  1,554  15,740  —  —  15,740  Common Stock (8) —  —  —  750  —  —  750  Quality Lease Service, LLC Member Units (7) —  —  —  460  —  —  460  Robbins Bros. Jewelry, Inc. Secured Debt (9) —  —  68  (62) —  6  (68) 12.50% 10.00% Secured Debt (9) —  149  —  14,029  —  61  13,968  Preferred Equity (9) —  —  —  —  —  —  —  Trantech Radiator Topco, LLC 11.50% Secured Debt (7) —  —  5  —  1,600  —  1,600  Secured Debt (7) —  (41) 240  9,000  —  9,000  —  13.50% Secured Debt (7) —  219  612  —  31,280  —  31,280  Common Stock (7) —  3,564  —  14,920  4,930  —  19,850  Common Equity (7) —  —  —  696  —  —  696  9.00% Secured Debt (7) —  (1) 47  2,040  1  1  2,040  9.00% Secured Debt (7) —  9  4  —  2,000  —  2,000  9.00% Secured Debt (7) —  2  1  —  400  —  400  Victory Energy Operations, LLC 13.00% Secured Debt (12) (8) —  —  56  836  1,725  431  2,130  13.00% Secured Debt (8) —  —  1,592  47,889  24  —  47,913  Preferred Equity (8) —  260  108  23,380  260  —  23,640  Volusion, LLC 10.00% Secured Debt (8) —  —  52  2,100  —  —  2,100  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) —  (563) —  2,910  —  870  2,040  Common Stock (8) —  —  —  —  —  —  —  Ziegler’s NYPD, LLC 12.00% Secured Debt (8) —  —  5  150  —  —  150  12.00% Secured Debt (8) —  (54) 52  1,687  —  54  1,633  Preferred Member Units (8) —  (50) —  50  —  50  —  Other Controlled Investments American Nuts, LLC Preferred Equity (9) $ —  $ (470) $ —  $ 4,250  $ —  $ 470  $ 3,780  12.31% SF+ 8.50% 12.31% Secured Debt (9) —  —  251  8,161  251  —  8,412  12.31% SF+ 8.50% 12.31% Secured Debt (9) —  110  251  6,582  361  —  6,943  12.36% SF+ 8.50% 12.36% Secured Debt (9) —  —  1  —  311  —  311  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Analytical Systems Keco Holdings, LLC 13.25% Secured Debt (8) —  —  129  3,860  3  153  3,710  Preferred Member Units (8) —  430  —  120  430  —  550  Preferred Member Units (8) —  —  —  6,030  —  —  6,030  Warrants (8) —  —  —  —  —  —  —  ASC Interests, LLC Secured Debt (8) —  —  10  400  —  400  —  Secured Debt (8) —  30  37  1,502  31  1,533  —  Preferred Member Units (8) (88) 178  —  —  178  178  —  Member Units (8) (1,500) 1,500  —  —  1,500  1,500  —  Batjer TopCo, LLC Secured Debt (8) —  —  —  —  —  —  —  10.00% Secured Debt (8) —  (5) 251  9,945  6  118  9,833  Preferred Stock (8) —  620  583  8,750  620  —  9,370  Bolder Panther Group, LLC 12.09% SF+ 8.40% Secured Debt (9) —  (33) 3,092  101,046  33  33  101,046  8.00% Class B Preferred Member Units (9) —  —  621  31,190  —  —  31,190  Secured Debt (9) —  —  32  —  —  —  —  Bridge Capital Solutions Corporation Preferred Member Units (6) —  —  —  —  —  —  —  Warrants (6) —  —  —  —  —  —  —  Warrants (6) —  —  —  —  —  —  —  CBT Nuggets, LLC Member Units (9) —  (2,360) 412  47,930  —  2,360  45,570  Centre Technologies Holdings, LLC SF+ 8.00% Secured Debt (12) (8) —  —  5  —  240  240  —  11.79% SF+ 8.00% Secured Debt (8) —  (3) 714  24,085  3  3  24,085  Preferred Member Units (8) —  3,230  30  42,710  3,230  —  45,940  Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  (3) 9  —  3  3  —  11.86% SF+ 8.00% Secured Debt (8) —  (23) 1,268  42,020  23  823  41,220  Member Units (8) —  3,980  1,523  35,530  3,980  —  39,510  Member Units (8) —  (90) 23  4,170  —  90  4,080  Charps, LLC 14.00% Unsecured Debt (5) —  (26) 223  5,694  26  26  5,694  Preferred Member Units (5) —  —  —  16,020  —  —  16,020  Colonial Electric Company LLC Secured Debt (12) (6) —  —  2  —  —  —  —  9.00% Secured Debt (6) —  88  206  8,779  —  —  8,779  Preferred Member Units (6) —  2,120  1,455  16,830  2,120  —  18,950  Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  140  —  390  140  —  530  Digital Products Holdings LLC 13.69% SF+ 10.00% Secured Debt (5) —  —  420  11,338  10  —  11,348  Preferred Member Units (5) —  —  50  9,835  —  —  9,835  Doral Holdings, LLC Preferred Equity (5) —  8,460  554  15,740  8,460  —  24,200  13.00% Secured Debt (5) —  184  939  26,270  230  4,000  22,500  Elgin AcquireCo, LLC SF+ 6.00% Secured Debt (5) —  —  2  (3) 1  —  (2) 12.00% Secured Debt (5) —  —  510  16,719  9  117  16,611  9.00% Secured Debt (5) —  —  140  6,156  1  14  6,143  Common Stock (5) —  140  —  5,050  140  —  5,190  Common Stock (5) —  60  —  3,270  60  —  3,330  Flame King Holdings, LLC Preferred Equity (9) —  1,120  1,587  54,630  1,120  —  55,750  12.00% Secured Debt (9) —  (32) 2,014  66,000  32  32  66,000  Harris Preston Fund Investments LP Interests (2717 MH, L.P.) (8) —  70  —  1,795  70  —  1,865  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) LP Interests (2717 HPP-MS, L.P.) (12) (8) —  (190) 282  447  —  190  257  LP Interests (2717 GRE-LP, L.P.) (8) —  75  —  441  75  —  516  LP Interests (423 COR, L.P.) (8) —  95  —  5,244  95  —  5,339  Harrison Hydra-Gen, Ltd. Common Stock (8) —  —  —  7,080  —  —  7,080  JTI Electrical & Mechanical, LLC 9.92% SF+ 6.00% 9.92% Secured Debt (9) —  (27,772) —  36,429  —  27,772  8,657  15.00% 15.00% Secured Debt (9) —  (939) —  939  —  939  —  8.92% SF+ 5.00% 8.92% Secured Debt (9) —  —  —  6,316  213  —  6,529  Common Equity (9) —  —  —  —  —  —  —  JorVet Holdings, LLC 12.00% Secured Debt (9) —  —  711  23,263  12  —  23,275  Preferred Equity (9) —  3  106  10,990  3  —  10,993  KBK Industries, LLC Member Units (5) 17,327  (17,396) 1,603  18,180  17,326  35,506  —  Secured Debt (5) —  —  —  —  —  —  —  Secured Debt (5) —  (34) 51  7,200  34  7,234  —  Kickhaefer Manufacturing Company, LLC 11.50% Secured Debt (5) —  —  294  10,195  1  —  10,196  9.00% Secured Debt (5) —  —  88  3,878  —  12  3,866  Preferred Equity (5) —  1,170  —  17,180  1,170  —  18,350  Member Units (5) —  —  24  4,190  —  —  4,190  Legacy Swim Group 13.00% Secured Debt (7) —  —  1,056  31,691  16  —  31,707  Preferred Equity (7) —  —  186  14,996  —  —  14,996  Metalforming Holdings, LLC Secured Debt (7) —  —  3  —  —  —  —  8.75% Secured Debt (7) —  (8) 386  17,237  8  8  17,237  8.00% 8.00% Preferred Equity (7) —  —  120  5,916  —  —  5,916  Common Stock (7) —  290  490  9,770  290  —  10,060  Moffitt Holdings, LLC 13.00% Secured Debt (8) —  —  1,115  33,840  20  438  33,422  Preferred Equity (8) —  —  —  15,560  —  —  15,560  MS Private Loan Fund I, LP 6.69% SF+ 3.00% Secured Debt (12) (8) —  —  175  12,000  4,300  4,000  12,300  LP Interests (8) —  (1,104) 363  14,697  —  1,104  13,593  MS Private Loan Fund II, LP SF+ 3.00% Secured Debt (12) (8) —  —  12  (84) 257  250  (77) LP Interests (12) (8) —  89  498  11,064  89  —  11,153  MSC Income Fund, Inc. Common Equity (8) —  (1,675) 729  21,412  4,930  1,675  24,667  SF+ 4.50% Secured Debt (12) (8) —  —  53  —  23,853  24,000  (147) MVI MSO, LLC 13.00% Secured Debt (6) —  —  325  9,768  4  —  9,772  Preferred Equity (6) —  (690) 81  4,770  —  690  4,080  NAPCO Precast, LLC Member Units (8) —  (3,330) 42  14,480  —  3,330  11,150  Member Units (8) —  —  7  568  —  —  568  Nello Industries Investco, LLC Secured Debt (5) —  (205) 550  32,072  —  32,072  —  12.50% Secured Debt (5) —  205  818  —  41,272  —  41,272  Preferred Equity (5) —  6,220  274  23,330  6,220  —  29,550  NexRev LLC Preferred Member Units (8) —  (280) 24  12,870  —  280  12,590  NuStep, LLC 10.29% SF+ 6.50% Secured Debt (5) —  —  63  1,000  1,600  —  2,600  12.00% Secured Debt (5) —  —  571  18,440  —  274  18,166  Preferred Member Units (5) —  (1,270) —  12,200  —  1,270  10,930  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Preferred Member Units (5) —  180  —  6,110  180  —  6,290  Orttech Holdings, LLC SF+ 11.00% Secured Debt (5) —  —  16  612  —  612  —  14.79% SF+ 11.00% Secured Debt (5) —  (10) 779  20,760  10  10  20,760  Preferred Stock (5) —  —  60  13,450  —  —  13,450  Pinnacle TopCo, LLC Secured Debt (12) (8) —  (1) 3  —  1  1  —  13.00% Secured Debt (8) —  (18) 885  27,200  18  818  26,400  Preferred Equity (8) —  —  332  20,440  —  —  20,440  PPL RVs, Inc. SF+ 8.75% Secured Debt (8) —  —  —  —  —  —  —  12.60% SF+ 8.75% Secured Debt (8) —  (9) 487  15,191  9  9  15,191  Common Stock (8) —  (1,620) —  17,330  —  1,620  15,710  Common Stock (8) —  —  —  575  —  —  575  River Aggregates, LLC Member Units (8) —  —  25  9,700  —  —  9,700  Spring Engineering Holdings, LLC 13.00% Secured Debt (7) —  —  754  —  23,165  —  23,165  Preferred Member Units (7) —  —  —  —  4,650  —  4,650  Tedder Industries, LLC 12.00% 12.00% Secured Debt (9) —  (82) 433  962  433  82  1,313  12.00% 12.00% Secured Debt (9) —  2,553  —  2,827  2,553  —  5,380  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Televerde, LLC Member Units (8) —  (2,551) —  4,822  —  2,551  2,271  Preferred Stock (8) —  —  —  1,794  —  —  1,794  Trinity Medical Holdings, LLC 13.00% Secured Debt (7) —  —  1,931  57,944  30  —  57,974  Preferred Equity (7) —  —  —  22,500  —  —  22,500  VVS Holdco LLC SF+ 6.00% Secured Debt (5) —  —  4  —  —  —  —  11.50% Secured Debt (5) —  —  702  23,956  12  —  23,968  Preferred Equity (5) —  —  —  12,240  —  —  12,240  Other Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  —  —  —  —  —  Total Control investments $ 10,035  $ (47,208) $ 61,664  $ 2,569,626  $ 280,850  $ 267,466  $ 2,583,010  Affiliate Investments AAC Holdings, Inc. 20.00% 20.00% Secured Debt (7) $ —  $ —  $ 45  $ 895  $ 45  $ —  $ 940  Preferred Equity (7) —  (2,060) —  2,080  —  2,060  20  20.00% 20.00% Secured Debt (7) —  (212) —  2,756  —  212  2,544  20.00% 20.00% Secured Debt (7) —  (212) —  2,756  —  212  2,544  Common Stock (7) —  —  —  —  —  —  —  21.00% 21.00% Secured Debt (7) —  105  45  503  580  —  1,083  BLI Acquisition, LLC 14.00% Secured Debt (7) —  —  566  —  13,072  —  13,072  Member Units (7) —  —  —  —  2,100  —  2,100  Boccella Precast Products LLC 10.00% Secured Debt (6) —  —  —  256  —  —  256  Member Units (6) —  (190) —  2,820  —  190  2,630  Buca C, LLC 15.00% 15.00% Secured Debt (7) —  —  —  —  —  —  —  6.00% 6.00% Preferred Member Units (7) —  —  —  —  —  —  —  15.00% 15.00% Secured Debt (7) —  (51) —  —  51  51  —  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Career Team Holdings, LLC SF+ 6.00% Secured Debt (12) (6) —  —  5  (45) 2  —  (43) 13.00% Secured Debt (6) —  —  731  21,551  19  —  21,570  Common Stock (6) —  —  —  5,370  —  —  5,370  CGMS Parent LLC 13.00% Secured Debt (6) —  —  821  24,754  14  156  24,612  Secured Debt (12) (6) —  —  7  (39) 2  —  (37) Preferred Equity (6) —  —  195  10,000  —  —  10,000  Classic H&G Holdings, LLC Preferred Member Units (6) —  90  —  2,040  90  —  2,130  Congruent Credit Opportunities Funds LP Interests (Congruent Credit Opportunities Fund III, LP) (8) —  812  —  24  812  —  836  Connect Telecommunications Solutions Holdings, Inc. 13.00% Secured Debt (6) —  —  786  24,153  18  900  23,271  Preferred Equity (6) —  —  —  12,596  —  —  12,596  DMA Industries, LLC 10.00% Secured Debt (7) —  (3) 323  12,800  3  3  12,800  Preferred Equity (7) —  4,500  —  9,174  4,500  —  13,674  10.00% Secured Debt (7) —  —  14  560  —  —  560  15.00% 15.00% Preferred Equity (7) —  2,321  139  5,424  2,459  —  7,883  Dos Rios Partners LP Interests (Dos Rios Partners, LP) (8) —  —  —  8,027  —  —  8,027  LP Interests (Dos Rios Partners - A, LP) (8) —  —  —  2,549  —  —  2,549  Dos Rios Stone Products LLC Class A Preferred Units (8) —  —  —  —  —  —  —  EIG Fund Investments LP Interests (EIG Global Private Debt Fund-A, L.P.) (8) —  —  —  37  —  —  37  FCC Intermediate Holdco, LLC 13.00% Secured Debt (5) —  (232) 1,231  31,160  232  642  30,750  Warrants (5) —  (480) 180  15,140  —  480  14,660  Freeport Financial Funds LP Interests (Freeport Financial SBIC Fund LP) (5) —  (54) —  1,600  —  54  1,546  LP Interests (Freeport First Lien Loan Fund III LP) (5) —  —  —  193  —  —  193  FRG AcquireCo, LLC Secured Debt (7) —  —  4  (19) 2  —  (17) 13.50% Secured Debt (7) —  —  362  10,402  23  2,018  8,407  Preferred Equity (7) —  —  —  3,500  —  —  3,500  GFG Group, LLC 8.00% Secured Debt (5) —  (3) 284  14,053  3  3  14,053  Preferred Member Units (5) —  —  140  10,940  —  —  10,940  Gulf Manufacturing, LLC 11.82% SF+ 8.13% Secured Debt (12) (8) —  —  22  (32) 3,003  —  2,971  11.82% SF+ 8.13% Secured Debt (8) —  —  1,182  36,784  83  500  36,367  Member Units (8) —  (100) 142  6,600  —  100  6,500  Common Stock (8) —  —  18  1,450  —  —  1,450  Preferred Equity (8) —  —  —  5,190  —  —  5,190  Harris Preston Fund Investments LP Interests (423 HAR, L.P.) (8) —  —  —  1,226  —  —  1,226  LP Interests (HPEP 3, L.P.) (12) (8) —  (128) —  4,116  —  380  3,736  LP Interests (HPEP 4, L.P.) (12) (8) —  787  —  7,463  2,072  —  9,535  Hawk Ridge Systems, LLC Secured Debt (9) —  —  —  3,219  —  3,219  —  SF+ 6.00% Secured Debt (12) (9) —  23  7  —  —  —  —  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Secured Debt (9) —  —  —  45,256  —  45,256  —  11.00% Secured Debt (9) —  271  1,772  —  49,871  —  49,871  Preferred Member Units (9) —  —  —  26,310  —  —  26,310  Preferred Member Units (9) —  —  —  1,380  —  —  1,380  Houston Plating and Coatings, LLC 10.00% Unsecured Convertible Debt (8) —  —  75  3,000  —  —  3,000  Member Units (8) —  (210) 49  3,720  —  210  3,510  Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  —  —  19,000  —  —  19,000  Infinity X1 Holdings, LLC Preferred Equity (9) —  330  180  8,010  330  —  8,340  12.00% Secured Debt (9) —  (1) 454  15,299  1  226  15,074  Secured Debt (12) (9) —  —  44  —  4,000  4,000  —  Integral Energy Services 11.42% SF+ 7.50% Secured Debt (8) —  (269) 363  12,042  13  269  11,786  10.00% 10.00% Preferred Equity (8) —  —  7  420  7  —  427  Common Stock (8) —  (70) —  350  —  70  280  10.00% 10.00% Preferred Equity (8) —  —  —  404  —  —  404  Iron-Main Investments, LLC 13.00% Secured Debt (5) —  —  148  4,500  2  —  4,502  13.00% Secured Debt (5) —  —  97  2,931  1  —  2,932  13.00% Secured Debt (5) —  —  291  8,944  —  —  8,944  13.00% Secured Debt (5) —  —  577  17,569  7  207  17,369  13.00% Secured Debt (5) —  —  323  9,421  20  353  9,088  Common Stock (5) —  150  —  2,700  150  —  2,850  25.00% 25.00% Preferred Equity (5) —  70  —  1,030  70  —  1,100  25.00% 25.00% Preferred Equity (5) —  —  —  155  —  —  155  ITA Holdings Group, LLC 10.84% SF+ 7.00% Secured Debt (8) —  (1) 33  1,180  1  1  1,180  10.84% SF+ 7.00% Secured Debt (8) —  (2) 146  5,310  2  2  5,310  10.84% SF+ 7.00% Secured Debt (8) —  (67) 200  4,935  67  67  4,935  10.84% SF+ 7.00% Secured Debt (8) —  (67) 200  4,935  67  67  4,935  10.84% SF+ 7.00% Secured Debt (8) —  (1) 49  1,770  1  1  1,770  10.84% SF+ 7.00% Secured Debt (8) —  —  —  —  2,360  —  2,360  Warrants (8) —  —  1,125  15,230  —  —  15,230  CenterPeak Holdings, LLC 15.00% Secured Debt (12) (8) —  (2) 71  1,800  2  2  1,800  15.00% Secured Debt (8) —  (1) 943  25,107  1  1  25,107  Preferred Equity (8) —  1,240  1,141  24,340  1,240  —  25,580  Kennedy Fab HoldCo, LLC Secured Debt (12) (8) —  —  22  —  —  5  (5) 13.00% Secured Debt (8) —  —  533  —  29,705  —  29,705  9.00% Secured Debt (8) —  —  301  —  19,961  —  19,961  Preferred Equity (8) —  —  —  —  11,490  —  11,490  KMS, LLC 12.50% Secured Debt (5) —  22  41  1,146  27  —  1,173  12.50% Secured Debt (5) —  —  31  1,007  —  —  1,007  Preferred Equity (5) —  —  —  6,270  —  —  6,270  9.20% SF+ 5.50% Secured Debt (12) (5) —  36  15  (40) 1,343  —  1,303  Mills Fleet Farm Group, LLC 9.81% SF+ 5.50% 9.81% Secured Debt (5) —  —  71  2,796  71  —  2,867  9.17% SF+ 5.50% 9.17% Secured Debt (5) —  —  40  1,664  42  —  1,706  Preferred Equity (5) —  (1,105) 278  12,557  278  1,105  11,730  MoneyThumb Acquisition, LLC 14.00% Secured Debt (9) —  —  342  7,696  63  596  7,163  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) 12.00% 12.00% Preferred Member Units (9) —  130  58  2,112  188  —  2,300  Warrants (9) —  70  —  800  70  —  870  Nearshore AcquireCo, LLC Secured Debt (12) (8) —  —  3  (24) 1  —  (23) Secured Debt (8) —  —  3  (61) 3  —  (58) 13.00% Secured Debt (8) —  —  723  21,688  11  —  21,699  Preferred Equity (8) —  —  —  5,260  —  —  5,260  OnAsset Intelligence, Inc. 12.00% 12.00% Secured Debt (8) —  —  —  141  —  —  141  12.00% 12.00% Secured Debt (8) —  —  —  144  —  —  144  12.00% 12.00% Secured Debt (8) —  —  —  309  —  —  309  12.00% 12.00% Secured Debt (8) —  —  —  645  1  —  646  10.00% 10.00% Unsecured Debt (8) —  —  —  —  —  —  —  7.00% 7.00% Preferred Stock (8) —  —  —  —  —  —  —  Common Stock (8) —  —  —  —  —  —  —  Warrants (8) —  —  —  —  —  —  —  Oneliance, LLC Preferred Stock (7) —  —  13  3,270  —  —  3,270  RA Outdoors LLC 10.56% SF+ 6.75% 10.56% Secured Debt (8) —  —  38  1,182  37  —  1,219  10.56% SF+ 6.75% 10.56% Secured Debt (8) —  (2) 397  12,355  398  2  12,751  10.59% SF+ 6.75% 10.59% Secured Debt (8) —  (80) —  —  465  80  385  10.59% SF+ 6.75% 10.59% Secured Debt (8) —  (78) —  —  453  78  375  Revenue Recovery Holdings, LLC Secured Debt (12) (7) —  —  3  (18) 1  —  (17) 13.00% Secured Debt (7) —  —  221  6,640  3  —  6,643  Preferred Equity (7) —  911  —  1,049  911  —  1,960  RFG AcquireCo, LLC Secured Debt (12) (7) —  —  3  (7) 1  —  (6) 13.50% Secured Debt (7) —  —  267  7,932  4  —  7,936  Secured Debt (7) —  —  300  33,700  —  33,700  —  13.50% Secured Debt (7) —  —  1,505  —  41,398  —  41,398  Preferred Equity (7) —  —  —  12,771  —  —  12,771  SI East, LLC 11.80% Secured Debt (12) (7) —  (1) 72  2,250  1  1  2,250  12.86% Secured Debt (7) —  (8) 2,159  66,850  8  8  66,850  Preferred Member Units (7) —  —  269  17,190  —  —  17,190  Slick Innovations, LLC 14.00% Secured Debt (6) —  (17) 879  24,680  17  417  24,280  Common Stock (6) —  430  —  2,160  430  —  2,590  Specialized Aviation Holdings, LLC 13.00% Secured Debt (7) —  —  825  28,362  61  5,375  23,048  Preferred Stock (7) —  —  338  15,000  —  —  15,000  Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  197  —  1,438  198  —  1,636  8.50% 8.50% Secured Debt (6) —  —  4  780  4  —  784  Superior Rigging & Erecting Co. Preferred Member Units (7) —  310  —  17,500  310  —  17,810  The Affiliati Network, LLC Preferred Stock (9) —  —  128  6,400  —  —  6,400  Preferred Stock (9) —  —  —  313  —  —  313  UnionRock Energy Fund II, LP LP Interests (12) (9) —  —  —  4,164  205  134  4,235  UnionRock Energy Fund III, LP LP Interests (12) (9) —  —  —  5,165  372  130  5,407  UniTek Global Services, Inc. 20.00% 20.00% Preferred Stock (6) —  —  —  9,388  —  —  9,388  19.00% 19.00% Preferred Stock (6) —  —  —  —  —  —  —  13.50% 13.50% Preferred Stock (6) —  —  —  —  —  —  —  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2025 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2026 Fair Value (13) Urgent DSO LLC 13.50% Secured Debt (5) —  (191) 301  8,672  5  191  8,486  Preferred Equity (5) —  (1,796) —  4,356  —  1,796  2,560  Wildcats Topco LLC Common Equity (5) —  70  135  22,760  70  —  22,830  World Micro Holdings, LLC 13.00% Secured Debt (7) —  —  326  9,848  5  —  9,853  Preferred Equity (7) —  —  —  3,845  —  —  3,845  Other Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  —  —  —  —  —  Total Affiliate investments $ —  $ 5,181  $ 26,181  $ 965,179  $ 196,009  $ 105,530  $ 1,055,658  ___________________________ (1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. (2)Represents the total amount of interest, dividends and fees credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred to or from other 1940 Act classifications during the period.” (3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category. (4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category. (5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $582,664. This represented 18.8% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $179,014. This represented 5.8% of net assets as of March 31, 2026. (6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $143,057. This represented 4.6% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $160,033. This represented 5.2% of net assets as of March 31, 2026. (7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $256,084. This represented 8.3% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $298,911. This represented 9.7% of net assets as of March 31, 2026. (8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $1,059,998. This represented 34.3% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $290,037. This represented 9.4% of net assets as of March 31, 2026. (9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $541,207. This represented 17.5% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $127,663. This represented 4.1% of net assets as of March 31, 2026. (10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted. (11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs. (12)Investment has an unfunded commitment as of March 31, 2026 (see Note K — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments. (13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan. Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Majority-Owned Investments Analytical Systems Keco Holdings, LLC Secured Debt (8) $ —  $ —  $ —  $ —  $ —  $ —  $ —  17.50% Secured Debt (8) —  —  180  4,048  3  50  4,001  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) —  (160) —  5,300  —  160  5,140  Warrants (8) —  —  —  —  —  —  —  BDB Holdings, LLC Preferred Equity (7) —  —  —  18,920  —  —  18,920  12.00% Secured Debt (12) (7) —  —  4  —  420  —  420  Brewer Crane Holdings, LLC 14.48% SF+ 10.00% Secured Debt (9) —  —  181  5,016  —  —  5,016  Preferred Member Units (9) —  (570) 30  4,680  —  570  4,110  Café Brazil, LLC Member Units (8) —  (100) —  1,200  —  100  1,100  California Splendor Holdings LLC 14.00% 4.00% Secured Debt (9) —  388  984  28,465  582  1,092  27,955  4.00% Secured Debt (12) (9) —  —  40  1,506  14  1,539  (19) Preferred Member Units (9) —  —  63  22,215  —  —  22,215  15.00% 15.00% Preferred Member Units (9) —  —  409  10,909  409  —  11,318  Clad-Rex Steel, LLC Secured Debt (12) (5) —  —  1  —  —  —  —  9.00% Secured Debt (5) —  2  159  6,760  —  240  6,520  10.00% Secured Debt (5) —  —  24  973  —  11  962  Member Units (5) —  50  443  10,990  50  —  11,040  Member Units (5) —  320  —  950  320  —  1,270  Cody Pools, Inc. Secured Debt (12) (8) —  (2) 7  —  2  2  —  12.50% Secured Debt (8) —  (3) 1,201  39,227  3  1,515  37,715  Preferred Member Units (8) —  1,690  1,284  67,810  1,690  —  69,500  CompareNetworks Topco, LLC 13.48% SF+ 9.00% Secured Debt (9) —  —  107  2,903  7  210  2,700  Preferred Member Units (9) —  (650) —  11,260  —  650  10,610  Cybermedia Technologies, LLC Secured Debt (6) —  —  3  —  —  —  —  13.00% Secured Debt (6) —  (509) 901  27,116  15  509  26,622  Preferred Member Units (6) —  (5,980) 63  15,000  —  5,980  9,020  Datacom, LLC 7.50% Secured Debt (8) —  —  17  493  586  135  944  10.00% Secured Debt (8) —  —  235  7,947  35  68  7,914  Preferred Member Units (8) —  —  —  240  —  —  240  Direct Marketing Solutions, Inc. Secured Debt (9) —  (7) 11  —  7  7  —  14.00% Secured Debt (9) —  (10) 837  23,902  10  420  23,492  Preferred Stock (9) —  540  —  17,930  540  —  18,470  Gamber-Johnson Holdings, LLC SF+ 7.50% Secured Debt (12) (5) —  —  2  —  —  —  —  11.50% SF+ 7.50% Secured Debt (12) (5) —  (12) 2,114  73,126  12  12  73,126  Member Units (5) —  —  1,903  114,750  —  —  114,750  Garreco, LLC Member Units (8) —  (230) 19  2,060  —  230  1,830  GRT Rubber Technologies LLC 10.48% SF+ 6.00% Secured Debt (12) (8) —  (1) 83  3,146  1  1  3,146  12.48% SF+ 8.00% Secured Debt (8) —  (12) 1,273  40,493  12  12  40,493  Member Units (8) —  —  1,506  45,890  —  —  45,890  Gulf Publishing Holdings, LLC SF+ 9.50% Secured Debt (8) —  —  —  —  —  —  —  12.50% 12.50% Secured Debt (8) —  298  —  1,518  220  —  1,738  Preferred Equity (8) —  —  —  —  —  —  —  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Member Units (8) —  —  —  —  —  —  —  IG Investor, LLC 13.00% Secured Debt (12) (6) —  26  57  1,572  28  —  1,600  13.00% Secured Debt (6) —  227  1,160  35,257  247  440  35,064  Common Equity (6) —  1,550  —  16,230  1,550  —  17,780  Jensen Jewelers of Idaho, LLC P+ 6.75% Secured Debt (12) (9) —  —  —  —  —  —  —  14.25% P+ 6.75% Secured Debt (9) —  —  53  1,498  —  160  1,338  Member Units (9) —  (280) 260  11,820  —  280  11,540  MSC Adviser I, LLC Member Units (8) —  (7,830) 2,493  246,000  —  7,830  238,170  Mystic Logistics Holdings, LLC Secured Debt (12) (6) —  —  1  —  —  —  —  10.00% Secured Debt (6) —  (2) 145  5,746  2  2  5,746  Common Stock (6) —  —  942  26,370  —  —  26,370  NRP Jones, LLC 12.00% Secured Debt (5) —  —  70  2,178  5  —  2,183  Member Units (5) —  (1,178) —  2,696  —  1,178  1,518  Member Units (5) —  (32) —  94  —  32  62  Preferred Equity (5) —  756  —  —  1,238  —  1,238  OMi Topco, LLC Secured Debt (8) —  (30) 207  9,000  —  9,000  —  Preferred Member Units (8) —  3,100  7,487  72,720  3,100  —  75,820  12.00% Secured Debt (8) —  49  101  —  14,000  —  14,000  Principle Environmental, LLC 13.00% Secured Debt (8) —  —  164  4,861  4  —  4,865  Preferred Member Units (8) —  350  327  12,600  350  —  12,950  Common Stock (8) —  20  —  600  20  —  620  Quality Lease Service, LLC Member Units (7) —  —  —  460  —  —  460  Robbins Bros. Jewelry, Inc. 10.00% Secured Debt (9) —  —  —  (39) —  6  (45) 12.50% 10.00% Secured Debt (9) —  —  —  14,562  —  210  14,352  Preferred Equity (9) —  —  —  —  —  —  —  Trantech Radiator Topco, LLC Secured Debt (12) (7) —  —  1  (1) —  —  (1) 13.50% Secured Debt (7) —  —  274  7,855  7  —  7,862  Common Stock (7) —  —  29  8,570  —  —  8,570  Victory Energy Operations, LLC Secured Debt (8) —  —  6  (33) 2  —  (31) 13.00% Secured Debt (8) —  —  1,592  47,792  24  —  47,816  Preferred Equity (8) —  —  116  22,686  —  —  22,686  Volusion, LLC 10.00% Secured Debt (8) —  —  52  2,100  —  —  2,100  Preferred Member Units (8) —  —  —  —  —  —  —  Preferred Member Units (8) 22  (1,528) —  7,003  21  1,854  5,170  Preferred Member Units (8) —  —  —  —  —  —  —  Common Stock (8) —  —  —  —  —  —  —  Ziegler’s NYPD, LLC 12.00% Secured Debt (8) —  —  54  1,750  —  —  1,750  Preferred Member Units (8) —  (160) —  320  —  160  160  Warrants (8) —  —  —  —  —  —  —  Other controlled investments 2717 MH, L.P. LP Interests (2717 MH, L.P.) (8) —  (166) —  8,818  80  166  8,732  LP Interests (2717 HPP-MS, L.P.) (8) —  —  —  383  —  —  383  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) LP Interests (2717 GRE-LP, L.P.) (8) —  —  —  441  —  —  441  HPEP 423 COR, LP LP Interests (423 COR, L.P.) (8) —  83  —  4,187  83  —  4,270  American Nuts, LLC Preferred Equity (9) —  —  —  —  8,970  —  8,970  12.95% SF+ 8.50% 12.95% Secured Debt (9) —  —  11  —  7,410  —  7,410  12.95% SF+ 8.50% 12.95% Secured Debt (9) —  —  11  —  7,410  —  7,410  ASC Interests, LLC 13.00% Secured Debt (8) —  —  13  400  —  —  400  13.00% Secured Debt (8) —  —  53  1,598  —  73  1,525  Preferred Member Units (8) —  —  —  —  —  —  —  Member Units (8) —  —  —  —  —  —  —  ATS Workholding, LLC 5.00% Secured Debt (9) —  (155) —  113  42  155  —  5.00% Secured Debt (9) —  (143) —  143  —  143  —  Preferred Member Units (9) —  —  —  —  —  —  —  Barfly Ventures, LLC 7.00% Secured Debt (12) (5) —  —  12  711  —  —  711  Member Units (5) —  (100) 1,103  5,860  —  100  5,760  Batjer TopCo, LLC 11.00% Secured Debt (12) (8) —  —  10  446  —  270  176  11.00% Secured Debt (12) (8) —  —  7  270  —  —  270  11.00% Secured Debt (8) —  —  279  10,529  5  —  10,534  Preferred Stock (8) —  —  188  5,160  —  —  5,160  Bolder Panther Group, LLC 11.70% SF+ 7.33% Secured Debt (9) —  (35) 2,987  101,643  34  631  101,046  8.00% Class B Preferred Member Units (9) —  480  795  30,520  480  —  31,000  Secured Debt (9) —  —  40  —  —  —  —  Bridge Capital Solutions Corporation Preferred Member Units (6) —  —  —  —  —  —  —  Warrants (6) —  —  —  —  —  —  —  Warrants (6) —  —  —  —  —  —  —  CBT Nuggets, LLC Member Units (9) —  —  824  49,540  —  —  49,540  Centre Technologies Holdings, LLC SF+ 10.00% Secured Debt (12) (8) —  —  3  —  —  —  —  14.48% SF+ 10.00% Secured Debt (8) —  (5) 876  25,534  5  1,075  24,464  Preferred Member Units (8) —  1,870  30  12,410  1,870  —  14,280  Chamberlin Holding LLC SF+ 6.00% Secured Debt (12) (8) —  (22) 24  —  22  22  —  12.49% SF+ 8.00% Secured Debt (8) —  3  503  15,620  1,600  —  17,220  Member Units (8) —  1,130  2,791  33,110  1,130  —  34,240  Member Units (8) —  80  23  3,550  80  —  3,630  Charps, LLC 10.00% Unsecured Debt (5) —  (23) 219  5,694  23  23  5,694  Preferred Member Units (5) —  —  329  15,580  —  —  15,580  Colonial Electric Company LLC Secured Debt (12) (6) —  —  2  —  —  —  —  12.00% Secured Debt (6) —  (8) 428  14,310  8  323  13,995  Preferred Member Units (6) —  760  414  13,570  760  —  14,330  Compass Systems & Sales, LLC Secured Debt (5) —  —  1  (21) 2  —  (19) 13.50% Secured Debt (5) —  —  589  17,067  9  —  17,076  Preferred Equity (5) —  4  60  7,450  4  —  7,454  Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  —  —  500  15  —  515  Digital Products Holdings LLC 14.38% SF+ 10.00% Secured Debt (5) —  —  453  12,422  12  330  12,104  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Preferred Member Units (5) —  —  50  9,835  —  —  9,835  Elgin AcquireCo, LLC SF+ 6.00% Secured Debt (5) —  —  2  (5) —  —  (5) 12.00% Secured Debt (5) —  —  551  17,969  9  70  17,908  9.00% Secured Debt (5) —  —  141  6,207  1  13  6,195  Common Stock (5) —  (690) —  5,730  —  690  5,040  Common Stock (5) —  50  —  3,050  50  —  3,100  Harrison Hydra-Gen, Ltd. Common Stock (8) —  50  —  7,010  50  —  7,060  JorVet Holdings, LLC 12.00% Secured Debt (9) —  —  711  23,216  12  —  23,228  Preferred Equity (9) —  490  285  13,180  490  —  13,670  KBK Industries, LLC 9.00% Secured Debt (5) —  (4) 85  3,700  4  304  3,400  Member Units (5) —  —  707  25,180  —  —  25,180  Kickhaefer Manufacturing Company, LLC 11.50% Secured Debt (5) —  —  423  14,987  2  800  14,189  9.00% Secured Debt (5) —  —  89  3,926  —  12  3,914  Preferred Equity (5) —  650  —  12,240  650  —  12,890  Member Units (5) —  —  30  2,710  —  —  2,710  Metalforming Holdings, LLC Secured Debt (12) (7) —  —  6  (11) 4  —  (7) 9.75% Secured Debt (7) —  —  498  20,844  20  1,931  18,933  8.00% 8.00% Preferred Equity (7) —  (481) 604  6,397  —  481  5,916  Common Stock (7) —  520  698  6,850  520  —  7,370  Moffitt Holdings, LLC 13.00% (8) —  —  520  —  34,656  —  34,656  (8) —  —  —  —  14,300  —  14,300  MS Private Loan Fund I, LP 5.00% Secured Debt (8) —  —  55  1,600  10,100  1,700  10,000  LP Interests (12) (8) —  (177) 479  14,034  —  177  13,857  MS Private Loan Fund II, LP SF+ 3.50% Secured Debt (12) (8) —  —  12  (59) 605  650  (104) LP Interests (12) (8) —  —  219  7,843  708  —  8,551  MSC Income Fund, Inc. Common Equity (8) —  202  495  16,810  4,702  —  21,512  MVI MSO, LLC 13.00% (6) —  —  199  —  9,753  —  9,753  (6) —  —  —  —  2,700  —  2,700  NAPCO Precast, LLC Member Units (8) —  (160) 137  9,050  —  160  8,890  Nello Industries Investco, LLC SF+ 6.50% Secured Debt (5) —  —  16  (16) 16  —  —  13.50% Secured Debt (5) —  —  932  26,959  13  —  26,972  Common Equity (5) —  940  171  15,560  940  —  16,500  NexRev LLC Secured Debt (8) —  —  —  —  —  —  —  Secured Debt (8) —  (9) 151  9,811  9  9,820  —  Preferred Member Units (8) —  1,510  413  11,910  1,510  —  13,420  NuStep, LLC 10.98% SF+ 6.50% Secured Debt (5) —  —  99  3,600  —  —  3,600  12.00% Secured Debt (5) —  —  554  18,439  1  —  18,440  Preferred Member Units (5) —  650  —  11,550  650  —  12,200  Preferred Member Units (5) —  —  —  6,000  —  —  6,000  Orttech Holdings, LLC SF+ 11.00% Secured Debt (12) (5) —  —  —  —  —  —  —  15.48% SF+ 11.00% Secured Debt (5) —  (12) 846  21,960  12  412  21,560  Preferred Stock (5) —  —  60  13,450  —  —  13,450  Pinnacle TopCo, LLC Secured Debt (12) (8) —  (1) 3  —  1  1  —  13.00% Secured Debt (8) —  (14) 945  28,640  14  14  28,640  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Preferred Equity (8) —  1,740  782  18,360  1,740  —  20,100  PPL RVs, Inc. SF+ 7.00% Secured Debt (8) —  —  —  —  —  —  —  11.48% SF+ 7.00% Secured Debt (8) —  (15) 489  16,456  15  915  15,556  Common Stock (8) —  1,050  177  17,110  1,050  —  18,160  Common Stock (8) —  —  —  514  —  —  514  River Aggregates, LLC Member Units (8) —  —  —  9,530  —  —  9,530  Tedder Industries, LLC 12.00% 12.00% Secured Debt (9) —  (92) —  1,646  —  91  1,555  12.00% 12.00% Secured Debt (9) —  (396) —  3,603  —  396  3,207  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Preferred Member Units (9) —  —  —  —  —  —  —  Televerde, LLC Member Units (8) —  769  —  4,252  769  —  5,021  Preferred Stock (8) —  —  —  1,794  —  —  1,794  VVS Holdco LLC SF+ 6.00% Secured Debt (12) (5) —  —  4  —  —  —  —  11.50% Secured Debt (5) —  —  754  25,661  13  —  25,674  Preferred Equity (5) —  —  99  12,240  —  —  12,240  Other Amounts related to investments transferred to or from other 1940 Act classification during the period Total Control investments $ 22  $ 401  $ 56,242  $ 2,087,890  $ 141,679  $ 56,613  $ 2,172,956  Affiliate Investments 423 HAR, LP LP Interests (423 HAR, L.P.) (8) $ —  $ —  $ —  $ 1,226  $ —  $ —  $ 1,226  AAC Holdings, Inc. 18.00% 18.00% Secured Debt (7) (139) 3  —  609  —  609  —  18.00% 18.00% Secured Debt (7) (3,303) 80  —  17,365  —  17,365  —  Preferred Equity (7) —  —  —  —  8,520  —  8,520  10.00% 10.00% Secured Debt (7) —  —  —  —  3,109  —  3,109  10.00% 10.00% Secured Debt (7) —  —  —  —  3,109  —  3,109  Common Stock (7) —  —  —  —  —  —  —  Warrants (7) —  —  —  —  —  —  —  Boccella Precast Products LLC 10.00% Secured Debt (6) —  —  8  266  —  —  266  Member Units (6) —  810  140  310  810  —  1,120  Buca C, LLC 15.00% 15.00% Secured Debt (7) —  —  —  —  —  —  —  6.00% 6.00% Preferred Member Units (7) —  —  —  —  —  —  —  15.00% 15.00% Secured Debt (7) —  —  —  —  —  —  —  15.00% 15.00% Secured Debt (7) —  (368) —  —  368  368  —  Career Team Holdings, LLC 10.38% SF+ 6.00% Secured Debt (12) (6) —  —  42  887  902  —  1,789  12.50% Secured Debt (6) —  —  617  19,364  11  203  19,172  Common Stock (6) —  —  —  4,740  —  —  4,740  Classic H&G Holdings, LLC Preferred Member Units (6) —  (210) —  2,850  —  210  2,640  Congruent Credit Opportunities Funds LP Interests (Congruent Credit Opportunities Fund III, LP) (8) —  —  —  2,276  —  —  2,276  Connect Telecommunications Solutions Holdings, Inc. 13.00% Secured Debt (6) —  —  910  27,315  14  —  27,329  Preferred Equity (6) —  —  —  12,596  —  —  12,596  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) DMA Industries, LLC 12.00% Secured Debt (7) —  —  508  16,722  4  —  16,726  Preferred Equity (7) —  —  —  5,944  —  —  5,944  12.00% Secured Debt (7) —  —  17  555  —  —  555  15.00% 15.00% Preferred Equity (7) —  —  120  3,240  120  —  3,360  Dos Rios Partners LP Interests (Dos Rios Partners, LP) (8) —  —  —  7,708  —  —  7,708  LP Interests (Dos Rios Partners - A, LP) (8) —  —  —  2,447  —  —  2,447  Dos Rios Stone Products LLC Class A Preferred Units (8) —  —  —  —  —  —  —  EIG Fund Investments LP Interests (EIG Global Private Debt Fund-A, L.P.) (8) —  —  9  369  —  —  369  FCC Intermediate Holdco, LLC 13.00% Secured Debt (5) —  3,438  1,305  29,109  3,691  410  32,390  Warrants (5) —  3,790  390  10,840  3,790  —  14,630  Flame King Holdings, LLC Preferred Equity (9) —  3,450  2,296  35,920  3,450  —  39,370  Freeport Financial SBIC Fund LP LP Interests (Freeport Financial SBIC Fund LP) (5) —  —  —  2,190  —  —  2,190  LP Interests (Freeport First Lien Loan Fund III LP) (5) —  —  —  1,263  —  965  298  GFG Group, LLC 8.00% Secured Debt (5) —  (4) 168  8,185  4  4  8,185  Preferred Member Units (5) —  (930) 437  10,540  —  930  9,610  Gulf Manufacturing, LLC SF+ 7.63% Secured Debt (8) —  (2) 9  —  2  2  —  12.00% SF+ 7.63% Secured Debt (8) —  (23) 1,177  39,000  23  523  38,500  Member Units (8) —  —  178  14,730  —  —  14,730  Common Stock (8) —  132  —  888  132  —  1,020  Hawk Ridge Systems, LLC 10.48% SF+ 6.00% Secured Debt (9) —  —  83  2,645  1,497  1,640  2,502  12.50% Secured Debt (9) —  (14) 1,428  45,256  14  14  45,256  Preferred Member Units (9) —  860  —  20,260  860  —  21,120  Preferred Member Units (9) —  40  —  1,070  40  —  1,110  Houston Plating and Coatings, LLC 10.00% Unsecured Convertible Debt (8) —  —  75  2,940  —  —  2,940  Member Units (8) —  310  49  3,930  310  —  4,240  HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (12) (8) —  194  —  4,472  194  204  4,462  LP Interests (HPEP 4, L.P.) (12) (8) —  113  —  5,861  113  —  5,974  Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  (540) —  20,390  —  540  19,850  Infinity X1 Holdings, LLC 12.00% Secured Debt (9) —  (9) 453  15,050  9  234  14,825  Preferred Equity (9) —  (1,150) 838  9,080  —  1,150  7,930  Integral Energy Services 12.07% SF+ 7.50% Secured Debt (8) —  —  403  12,728  13  —  12,741  10.00% 10.00% Preferred Equity (8) —  —  6  452  6  —  458  Common Stock (8) —  —  —  550  —  —  550  Iron-Main Investments, LLC 13.00% Secured Debt (5) —  —  148  4,493  2  —  4,495  13.00% Secured Debt (5) —  —  97  2,927  1  —  2,928  13.00% Secured Debt (5) —  —  291  8,944  —  —  8,944  13.00% Secured Debt (5) —  —  579  17,542  7  —  17,549  13.00% Secured Debt (5) —  —  337  9,638  22  288  9,372  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Common Stock (5) —  —  —  2,850  —  —  2,850  25.00% 25.00% Preferred Equity (5) —  —  —  760  —  —  760  ITA Holdings Group, LLC 12.96% SF+ 8.50% Secured Debt (8) —  (1) 40  1,180  1  1  1,180  12.96% SF+ 8.50% Secured Debt (8) —  (1) 34  994  1  1  994  11.96% SF+ 7.50% Secured Debt (8) —  (67) 201  4,438  67  67  4,438  13.96% SF+ 9.50% Secured Debt (8) —  (67) 223  4,438  67  67  4,438  Warrants (8) —  970  —  5,690  970  —  6,660  Johnson Downie Opco, LLC Secured Debt (12) (8) —  (2) 6  —  2  2  —  15.00% Secured Debt (8) —  (12) 818  21,507  12  12  21,507  Preferred Equity (8) —  1,480  384  14,550  1,480  —  16,030  KMS, LLC 14.50% SF+ 9.75% Secured Debt (5) (415) 339  —  663  —  663  —  14.50% SF+ 9.75% Secured Debt (5) (3,037) 2,562  —  4,779  —  4,779  —  SF+ 9.75% 14.23% Secured Debt (5) —  —  7  450  —  450  —  SF+ 9.75% 14.23% Secured Debt (5) —  —  7  440  —  440  —  14.23% SF+ 9.75% 14.23% Secured Debt (5) —  —  3  —  —  —  —  12.50% 12.50% Secured Debt (12) (5) —  —  20  —  1,073  —  1,073  12.50% 12.50% Secured Debt (5) —  —  20  —  1,144  —  1,144  Preferred Equity (5) —  —  —  —  4,890  —  4,890  Mills Fleet Farm Group, LLC 9.79% SF+ 5.50% Secured Debt (5) —  —  44  —  2,652  —  2,652  Common Equity (5) —  (500) —  13,840  —  500  13,340  MoneyThumb Acquisition, LLC 14.00% Secured Debt (9) —  —  370  8,967  34  —  9,001  12.00% 12.00% Preferred Member Units (9) —  —  51  1,707  51  —  1,758  Warrants (9) —  —  —  594  —  —  594  Nebraska Vet AcquireCo, LLC SF+ 7.00% Secured Debt (12) (5) —  (1) 3  —  1  1  —  Preferred Member Units (5) —  28,520  570  32,040  28,520  —  60,560  12.50% Secured Debt (5) —  (12) 1,956  62,200  12  12  62,200  12.50% Secured Debt (5) —  (8) 224  4,650  2,608  8  7,250  OnAsset Intelligence, Inc. 12.00% 12.00% Secured Debt (8) —  —  —  99  —  —  99  12.00% 12.00% Secured Debt (8) —  —  —  101  —  —  101  12.00% 12.00% Secured Debt (8) —  —  —  218  —  —  218  12.00% 12.00% Secured Debt (8) —  —  —  457  —  —  457  10.00% 10.00% Unsecured Debt (8) —  —  —  305  —  —  305  7.00% 7.00% Preferred Stock (8) —  —  —  —  —  —  —  Common Stock (8) —  —  —  —  —  —  —  Warrants (8) —  —  —  —  —  —  —  Oneliance, LLC Preferred Stock (7) —  250  52  2,580  250  —  2,830  RA Outdoors LLC 11.25% SF+ 6.75% Secured Debt (8) —  (20) 40  1,257  3  60  1,200  11.25% SF+ 6.75% Secured Debt (8) —  (207) 408  13,155  11  621  12,545  Common Equity (8) —  —  —  —  —  —  —  SI East, LLC 11.75% Secured Debt (12) (7) —  (1) 72  2,250  1  1  2,250  12.82% Secured Debt (7) —  (4) 2,172  67,661  4  4  67,661  Preferred Member Units (7) —  (1,190) —  13,660  —  1,190  12,470  Slick Innovations, LLC Secured Debt (6) —  (139) 510  16,320  —  16,320  —  14.00% Secured Debt (6) —  282  441  —  25,880  —  25,880  Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of Realized Gain/(Loss) Amount of Unrealized Gain/(Loss) Amount of Interest, Fees or Dividends Credited to Income (2) December 31, 2024 Fair Value (13) Gross Additions (3) Gross Reductions (4) March 31, 2025 Fair Value (13) Common Stock (6) —  (550) 873  2,440  —  550  1,890  Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  (744) —  1,644  —  744  900  Preferred Equity (6) —  —  —  —  —  —  —  8.50% 8.50% Secured Debt (6) —  673  4  204  678  —  882  Superior Rigging & Erecting Co. Preferred Member Units (7) —  3,870  —  10,530  3,870  —  14,400  The Affiliati Network, LLC 10.00% Secured Debt (12) (9) —  —  12  394  1,281  1,560  115  10.00% Secured Debt (9) —  51  133  5,053  54  —  5,107  Preferred Stock (9) —  —  51  6,400  —  —  6,400  Preferred Stock (9) —  —  —  287  26  —  313  UnionRock Energy Fund II, LP LP Interests (12) (9) —  —  —  4,732  —  168  4,564  UnionRock Energy Fund III, LP LP Interests (12) (9) —  —  —  5,612  —  363  5,249  UniTek Global Services, Inc. 15.00% Secured Convertible Debt (6) 3,762  (2,384) 41  5,642  504  6,146  —  15.00% Secured Convertible Debt (6) 1,743  (1,155) 21  2,662  236  2,898  —  20.00% Preferred Stock (6) —  —  104  3,182  1,632  4,814  —  20.00% 20.00% Preferred Stock (6) —  —  —  4,272  5,904  —  10,176  19.00% 19.00% Preferred Stock (6) —  —  —  —  —  —  —  13.50% 13.50% Preferred Stock (6) —  —  —  —  —  —  —  Common Stock (6) —  —  —  —  —  —  —  Urgent DSO LLC 13.50% Secured Debt (5) —  —  301  8,727  4  —  8,731  9.00% 9.00% Preferred Equity (5) —  —  95  4,320  95  —  4,415  World Micro Holdings, LLC 11.00% Secured Debt (7) —  —  299  10,702  11  879  9,834  Preferred Equity (7) —  —  22  3,845  —  —  3,845  Other Amounts related to investments transferred to or from other 1940 Act classification during the period 3,452  (2,900) (17) (6,332) —  —  —  Total Affiliate investments $ 2,064  $ 39,003  $ 23,734  $ 846,798  $ 115,176  $ 68,980  $ 899,326  ___________________________ (1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. (2)Represents the total amount of interest, dividends and fees credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred to or from other 1940 Act classifications during the period.” (3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category. (4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category. (5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $538,021. This represented 18.9% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $280,456. This represented 9.9% of net assets as of March 31, 2025. (6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $162,980. This represented 5.7% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $129,230. This represented 4.6% of net assets as of March 31, 2025. (7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $68,443. This represented 2.4% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $154,613. This represented 5.4% of net assets as of March 31, 2025. (8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $1,002,909. This represented 35.3% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $169,813. This represented 6.0% of net assets as of March 31, 2025. (9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $400,603. This represented 14.1% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $165,214. This represented 5.8% of net assets as of March 31, 2025. (10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted. (11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs. (12)Investment has an unfunded commitment as of March 31, 2025 (see Note K — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments. (13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.