0000950170-23-068908 | 10-K | XBRL Viewer | Pennantpark Floating Rate Capital LTD

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Taxes and Distributions - Summary of Amounts Reclassified for Tax Purposes (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Decrease in paid-in capital	$ (531)	$ (492)	$ (369)
Decrease in accumulated net realized loss	(1,645)	1,118	(292)
Increase in undistributed net investment income	$ 2,176	$ (625)	$ 661

Debt	12 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	11. DEBT The annualized weighted average cost of debt for the years ended September 30, 2023, 2022, and 2021, inclusive of the fee on the undrawn commitment on the Credit Facility or the Prior Credit Facility, as applicable, amendment costs and debt issuance costs, was 6.3%, 4.5% and 3.9%, respectively. As of September 30, 2023, in accordance with the 1940 Act, with certain limited exceptions, we are only allowed to borrow amounts such that we are in compliance with a 150% asset coverage ratio requirement after such borrowing. On April 5, 2018, our board of directors approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the 1940 Act, as amended by the Consolidated Appropriations Act of 2018 (which includes the Small Business Credit Availability Act, or SBCAA). As a result, the asset coverage requirement applicable to us for senior securities was reduced from 200% (i.e., $1 of debt outstanding for each $1 of equity) to 150% (i.e., $2 of debt outstanding for each $1 of equity), effective as of April 5, 2019, subject to compliance with certain disclosure requirements. As of September 30, 2023 and 2022, our asset coverage ratio, as computed in accordance with the 1940 Act, was 230% and 178%, respectively. Credit Facility Funding I’s multi-currency Credit Facility with affiliates of Truist Bank (formerly SunTrust Bank), or the Lenders upsized during the quarter with the addition of a new lender on July 24, 2023, increasing the facility by $20 million, and was $386.0 million as of September 30, 2023, subject to satisfaction of certain conditions and the regulatory restrictions that the 1940 Act imposes on us as a BDC, has an interest rate spread above SOFR (or an alternative risk-free floating interest rate index) of 236 basis points, a maturity date of August 2026 and a revolving period that ends in August 2024. As of September 30, 2023 and 2022, Funding I had $9.4 million and $168.8 million of outstanding borrowings under the Credit Facility, respectively. The Credit Facility had a weighted average interest rate of 7.7% and 4.9%, exclusive of the fee on undrawn commitments as of September 30, 2023 and 2022, respectively. As of September 30, 2023 and 2022, we had $376.6 million and $197.2 million of unused borrowing capacity under the Credit Facility, respectively, subject to leverage and borrowing base restrictions. During the revolving period, the Credit Facility bears interest at SOFR (or an alternative risk-free floating interest rate index) plus 236 basis points and, after the revolving period, the rate will reset to Base Rate (or an alternative risk-free floating interest rate index) plus 250 basis points for the remaining two years, maturing in August 2026. The Credit Facility is secured by all of the assets of Funding I. Both we and Funding I have made customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. The Credit Facility contains covenants, including, but not limited to, restrictions of loan size, industry requirements, average life of loans, geographic and individual portfolio concentrations, minimum portfolio yield and loan payment frequency. Additionally, the Credit Facility requires the maintenance of a minimum equity investment in Funding I and income ratio as well as restrictions on certain payments and issuance of debt. The Credit Facility compliance reporting is prepared on a basis of accounting other than GAAP. As of September 30, 2023, we were in compliance with the covenants relating to the Credit Facility. We own 100% of the equity interest in Funding I and treat the indebtedness of Funding I as our leverage. Our Investment Adviser serves as collateral manager to Funding I under the Credit Facility. Our interest in Funding I (other than the management fee) is subordinate in priority of payment to every other obligation of Funding I and is subject to certain payment restrictions set forth in the Credit Facility. We may receive cash distributions on our equity interests in Funding I only after it has made all required payments of (1) cash interest and, if applicable, principal to the Lenders, (2) administrative expenses and (3) claims of other unsecured creditors of Funding I. The Investment Adviser has irrevocably directed that any management fee owed with respect to such services is to be paid to the Company so long as the Investment Adviser remains the collateral manager. 2023 Notes In November 2017, we issued $138.6 million of our 2023 Notes of which $76.2 million and $97.0 million were outstanding as at September 30, 2023 and 2022, respectively. The 2023 Notes were issued pursuant to a deed of trust between the Company and Mishmeret Trust Company, Ltd. as trustee. The 2023 Notes pay interest at a rate of 4.3% per year. Interest on the 2023 Notes is payable semi-annually in arrears on June 15 and December 15 of each year, commencing June 15, 2018. The principal on the 2023 Notes will be payable in four annual installments as follows: 15% of the original principal amount on December 15, 2020, 15% of the original principal amount on December 15, 2021, 15% of the original principal amount on December 15, 2022 and 55% of the original principal amount on December 15, 2023. The 2023 Notes are general, unsecured obligations, rank equal in right of payment with all of PennantPark Floating Rate Capital Ltd.’s existing and future senior unsecured indebtedness and are generally redeemable at our option. The deed of trust governing the 2023 Notes includes certain customary covenants, including minimum equity requirements, and events of default. Please refer to the deed of trust filed as Exhibit (d)(8) to our post-effective amendment filed on December 13, 2017 for more information. The 2023 Notes are rated ilA- by S&P Global Ratings Maalot Ltd. and are listed on the TASE. In connection with this offering, we have dual listed our common stock on the TASE. The 2023 Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act or in transactions exempt from, or not subject to, such registration requirements. 2026 Notes In March 2021 and in October 2021, we issued $100.0 million and $85.0 million, respectively, in aggregate principal amount of $185.0 million of our 2026 Notes at a public offering price per note of 99.4% and 101.5%, respectively. Interest on the 2026 Notes is paid semi-annually on April 1 and October 1 of each year, at a rate of 4.25% per year, commencing October 1, 2021. The 2026 Notes mature on April 1, 2026 and may be redeemed in whole or in part at our option subject to a make-whole premium if redeemed more than three months prior to maturity. The 2026 Notes are our general, unsecured obligations and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 2026 Notes are effectively subordinated to all of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally subordinated to all of our existing and future indebtedness and other obligations of any of our subsidiaries, financing vehicles, or similar facilities. We do not intend to list the 2026 Notes on any securities exchange or automated dealer quotation system. 2031 Asset-Backed Debt In September 2019, the Company completed the $301.4 million term debt securitization. Term debt securitizations, also known as CLOs, are a form of secured financing incurred by the Company, which is consolidated by the Company and subject to the Company’s asset coverage requirements. The 2031 Asset-Backed Debt was issued by the Securitization Issuer. The 2031 Asset-Backed Debt is secured by the middle market loans, participation interests in middle market loans and other assets of the Securitization Issuer. The Debt Securitization was executed through (A) a private placement of: (i) $78.5 million Class A-1 Senior Secured Floating Rate Loans maturing 2031, which bear interest at the three-month SOFR plus 1.8%, (ii) $15.0 million Class A-2 Senior Secured Fixed Rate Notes due 2031, which bear interest at 3.7%, (iii) $14.0 million Class B-1 Senior Secured Floating Rate Notes due 2031, which bear interest at the three-month SOFR plus 2.9%, (iv) $16.0 million Class B-2 Senior Secured Fixed Rate Notes due 2031, which bear interest at 4.3%, (v) $19.0 million Class C‑1 Secured Deferrable Floating Rate Notes due 2031, which bear interest at the three-month SOFR plus 4.0%, (vi) $8.0 million Class C-2 Secured Deferrable Fixed Rate Notes due 2031, which bear interest at 5.4%, and (vii) $18.0 million Class D Secured Deferrable Floating Rate Loans due 2031, which bear interest at the three-month SOFR plus 4.8% and (B) the borrowing of $77.5 million Class A‑1 Senior Secured Floating Rate Notes due 2031, which bear interest at the three-month SOFR plus 1.8%, under a credit agreement by and among the Securitization Issuers, as borrowers, various financial institutions, as lenders, and U.S. Bank National Association, as collateral agent and as loan agent. The annualized interest on the 2031 Asset-Backed Debt will be paid, to the extent of funds available. The reinvestment period of the Debt Securitization ends on October 15, 2023 and the 2031 Asset-Backed Debt is scheduled to mature on October 15, 2031. On the closing date of the Debt Securitization, in consideration of our transfer to the Securitization Issuer of the initial closing date loan portfolio, which included loans distributed to us by certain of our wholly-owned subsidiaries, the Securitization Issuer transferred to us 100% of the Preferred Shares of the Securitization Issuer, 100% of the Class D Secured Deferrable Floating Rate Notes issued by the Securitization Issuer, and a portion of the net cash proceeds received from the sale of the 2031 Asset-Backed Debt. The Preferred Shares of the Securitization Issuer do not bear interest and had a stated value of approximately $55.4 million at the closing of the Debt Securitization. The 2031 Asset-Backed Debt is included in the Consolidated Statement of Assets and Liabilities as debt of the Company and the Class D Secured Deferrable Floating Rate Notes and the Preferred Shares of the Securitization Issuer were eliminated in consolidation. As of September 30, 2023 and 2022, the Company had $228.0 million, respectively, 2031 Asset-Backed Debt outstanding with a weighted average interest rate of 7.1% and 4.6%, respectively. As of September 30, 2023 and 2022, the unamortized fees on the 2031 Asset-Backed Debt were $1.2 million and $1.9 million, respectively. Our Investment Adviser serves as collateral manager to the Securitization Issuer pursuant to the Collateral Management Agreement. For so long as our Investment Adviser serves as collateral manager, it will elect to irrevocably waive any collateral management fee to which it may be entitled under the Collateral Management Agreement.

Debt

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Debt

11. DEBT

The annualized weighted average cost of debt for the years ended September 30, 2023, 2022, and 2021, inclusive of the fee on the undrawn commitment on the Credit Facility or the Prior Credit Facility, as applicable, amendment costs and debt issuance costs, was 6.3%, 4.5% and 3.9%, respectively. As of September 30, 2023, in accordance with the 1940 Act, with certain limited exceptions, we are only allowed to borrow amounts such that we are in compliance with a 150% asset coverage ratio requirement after such borrowing.

On April 5, 2018, our board of directors approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the 1940 Act, as amended by the Consolidated Appropriations Act of 2018 (which includes the Small Business Credit Availability Act, or SBCAA). As a result, the asset coverage requirement applicable to us for senior securities was reduced from 200% (i.e., $1 of debt outstanding for each $1 of equity) to 150% (i.e., $2 of debt outstanding for each $1 of equity), effective as of April 5, 2019, subject to compliance with certain disclosure requirements. As of September 30, 2023 and 2022, our asset coverage ratio, as computed in accordance with the 1940 Act, was 230% and 178%, respectively.

Credit Facility

Funding I’s multi-currency Credit Facility with affiliates of Truist Bank (formerly SunTrust Bank), or the Lenders upsized during the quarter with the addition of a new lender on July 24, 2023, increasing the facility by $20 million, and was $386.0 million as of September 30, 2023, subject to satisfaction of certain conditions and the regulatory restrictions that the 1940 Act imposes on us as a BDC, has an interest rate spread above SOFR (or an alternative risk-free floating interest rate index) of 236 basis points, a maturity date of August 2026 and a revolving period that ends in August 2024. As of September 30, 2023 and 2022, Funding I had $9.4 million and $168.8 million of outstanding borrowings under the Credit Facility, respectively. The Credit Facility had a weighted average interest rate of 7.7% and 4.9%, exclusive of the fee on undrawn commitments as of September 30, 2023 and 2022, respectively. As of September 30, 2023 and 2022, we had $376.6 million and $197.2 million of unused borrowing capacity under the Credit Facility, respectively, subject to leverage and borrowing base restrictions.

During the revolving period, the Credit Facility bears interest at SOFR (or an alternative risk-free floating interest rate index) plus 236 basis points and, after the revolving period, the rate will reset to Base Rate (or an alternative risk-free floating interest rate index) plus 250 basis points for the remaining two years, maturing in August 2026. The Credit Facility is secured by all of the assets of Funding I. Both we and Funding I have made customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities.

The Credit Facility contains covenants, including, but not limited to, restrictions of loan size, industry requirements, average life of loans, geographic and individual portfolio concentrations, minimum portfolio yield and loan payment frequency. Additionally, the Credit Facility requires the maintenance of a minimum equity investment in Funding I and income ratio as well as restrictions on certain payments and issuance of debt. The Credit Facility compliance reporting is prepared on a basis of accounting other than GAAP. As of September 30, 2023, we were in compliance with the covenants relating to the Credit Facility.

We own 100% of the equity interest in Funding I and treat the indebtedness of Funding I as our leverage. Our Investment Adviser serves as collateral manager to Funding I under the Credit Facility.

Our interest in Funding I (other than the management fee) is subordinate in priority of payment to every other obligation of Funding I and is subject to certain payment restrictions set forth in the Credit Facility. We may receive cash distributions on our equity interests in Funding I only after it has made all required payments of (1) cash interest and, if applicable, principal to the Lenders, (2) administrative expenses and (3) claims of other unsecured creditors of Funding I. The Investment Adviser has irrevocably directed that any management fee owed with respect to such services is to be paid to the Company so long as the Investment Adviser remains the collateral manager.

2023 Notes

In November 2017, we issued $138.6 million of our 2023 Notes of which $76.2 million and $97.0 million were outstanding as at September 30, 2023 and 2022, respectively. The 2023 Notes were issued pursuant to a deed of trust between the Company and Mishmeret Trust Company, Ltd. as trustee.

The 2023 Notes pay interest at a rate of 4.3% per year. Interest on the 2023 Notes is payable semi-annually in arrears on June 15 and December 15 of each year, commencing June 15, 2018. The principal on the 2023 Notes will be payable in four annual installments as follows: 15% of the original principal amount on December 15, 2020, 15% of the original principal amount on December 15, 2021, 15% of the original principal amount on December 15, 2022 and 55% of the original principal amount on December 15, 2023.

The 2023 Notes are general, unsecured obligations, rank equal in right of payment with all of PennantPark Floating Rate Capital Ltd.’s existing and future senior unsecured indebtedness and are generally redeemable at our option. The deed of trust governing the 2023 Notes includes certain customary covenants, including minimum equity requirements, and events of default. Please refer to the deed of trust filed as Exhibit (d)(8) to our post-effective amendment filed on December 13, 2017 for more information. The 2023 Notes are rated ilA- by S&P Global Ratings Maalot Ltd. and are listed on the TASE. In connection with this offering, we have dual listed our common stock on the TASE.

The 2023 Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act or in transactions exempt from, or not subject to, such registration requirements.

2026 Notes

In March 2021 and in October 2021, we issued $100.0 million and $85.0 million, respectively, in aggregate principal amount of $185.0 million of our 2026 Notes at a public offering price per note of 99.4% and 101.5%, respectively. Interest on the 2026 Notes is paid semi-annually on April 1 and October 1 of each year, at a rate of 4.25% per year, commencing October 1, 2021. The 2026 Notes mature on April 1, 2026 and may be redeemed in whole or in part at our option subject to a make-whole premium if redeemed more than three months prior to maturity. The 2026 Notes are our general, unsecured obligations and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 2026 Notes are effectively subordinated to all of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally subordinated to all of our existing and future indebtedness and other obligations of any of our subsidiaries, financing vehicles, or similar facilities. We do not intend to list the 2026 Notes on any securities exchange or automated dealer quotation system.

2031 Asset-Backed Debt

In September 2019, the Company completed the $301.4 million term debt securitization. Term debt securitizations, also known as CLOs, are a form of secured financing incurred by the Company, which is consolidated by the Company and subject to the Company’s asset coverage requirements. The 2031 Asset-Backed Debt was issued by the Securitization Issuer. The 2031 Asset-Backed Debt is secured by the middle market loans, participation interests in middle market loans and other assets of the Securitization Issuer. The Debt Securitization was executed through (A) a private placement of: (i) $78.5 million Class A-1 Senior Secured Floating Rate Loans maturing 2031, which bear interest at the three-month SOFR plus 1.8%, (ii) $15.0 million Class A-2 Senior Secured Fixed Rate Notes due 2031, which bear interest at 3.7%, (iii) $14.0 million Class B-1 Senior Secured Floating Rate Notes due 2031, which bear interest at the three-month SOFR plus 2.9%, (iv) $16.0 million Class B-2 Senior Secured Fixed Rate Notes due 2031, which bear interest at 4.3%, (v) $19.0 million Class C‑1 Secured Deferrable Floating Rate Notes due 2031, which bear interest at the three-month SOFR plus 4.0%, (vi) $8.0 million Class C-2 Secured Deferrable Fixed Rate Notes due 2031, which bear interest at 5.4%, and (vii) $18.0 million Class D Secured Deferrable Floating Rate Loans due 2031, which bear interest at the three-month SOFR plus 4.8% and (B) the borrowing of $77.5 million Class A‑1 Senior Secured Floating Rate Notes due 2031, which bear interest at the three-month SOFR plus 1.8%, under a credit agreement by and among the Securitization Issuers, as borrowers, various financial institutions, as lenders, and U.S. Bank National Association, as collateral agent and as loan agent. The annualized interest on the 2031 Asset-Backed Debt will be paid, to the extent of funds available. The reinvestment period of the Debt Securitization ends on October 15, 2023 and the 2031 Asset-Backed Debt is scheduled to mature on October 15, 2031.

On the closing date of the Debt Securitization, in consideration of our transfer to the Securitization Issuer of the initial closing date loan portfolio, which included loans distributed to us by certain of our wholly-owned subsidiaries, the Securitization Issuer transferred to us 100% of the Preferred Shares of the Securitization Issuer, 100% of the Class D Secured Deferrable Floating Rate Notes issued by the Securitization Issuer, and a portion of the net cash proceeds received from the sale of the 2031 Asset-Backed Debt. The Preferred Shares of the Securitization Issuer do not bear interest and had a stated value of approximately $55.4 million at the closing of the Debt Securitization.

The 2031 Asset-Backed Debt is included in the Consolidated Statement of Assets and Liabilities as debt of the Company and the Class D Secured Deferrable Floating Rate Notes and the Preferred Shares of the Securitization Issuer were eliminated in consolidation. As of September 30, 2023 and 2022, the Company had $228.0 million, respectively, 2031 Asset-Backed Debt outstanding with a weighted average interest rate of 7.1% and 4.6%, respectively. As of September 30, 2023 and 2022, the unamortized fees on the 2031 Asset-Backed Debt were $1.2 million and $1.9 million, respectively.

Our Investment Adviser serves as collateral manager to the Securitization Issuer pursuant to the Collateral Management Agreement. For so long as our Investment Adviser serves as collateral manager, it will elect to irrevocably waive any collateral management fee to which it may be entitled under the Collateral Management Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Transactions with Affiliated Companies - Additional Information (Details)	12 Months Ended
	Sep. 30, 2023
Minimum
Investments In And Advances To Affiliates [Line Items]
Ownership percentage of voting securities	5.00%
Non-controlled, Affiliated Investments \| Minimum
Investments In And Advances To Affiliates [Line Items]
Ownership percentage of voting securities	5.00%
Non-controlled, Affiliated Investments \| Maximum
Investments In And Advances To Affiliates [Line Items]
Ownership percentage of voting securities	25.00%
Controlled, Affiliated Investments \| Maximum
Investments In And Advances To Affiliates [Line Items]
Ownership percentage of voting securities	25.00%

Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents (amortized cost -$77,882 and $33,725, respectively)	$ 100,555	$ 51,488
Money Market Funds
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents (amortized cost -$77,882 and $33,725, respectively)	$ 100,600	$ 51,500

Agreements and Related Party Transactions	12 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]
Agreements and Related Party Transactions	3. AGREEMENTS AND RELATED PARTY TRANSACTIONS (a) Investment Management Agreement The Investment Management Agreement with the Investment Adviser was reapproved by our board of directors, including a majority of our directors who are not interested persons of us or the Investment Adviser, in February 2023. Under the Investment Management Agreement, the Investment Adviser, subject to the overall supervision of our board of directors, manages the day-to-day operations of and provides investment advisory services to us. The Investment Adviser serves as the collateral manager to Funding I and has irrevocably directed that any management fee owed with respect to such services is to be paid to the Company so long as the Investment Adviser remains the collateral manager. This arrangement does not increase our consolidated management fee. For providing these services, the Investment Adviser receives a fee from us consisting of two components—a base management fee and an incentive fee. Base Management Fee The base management fee is calculated at an annual rate of 1.00% of our “average adjusted gross assets,” which equals our gross assets (net of U.S. Treasury Bills, temporary draws under any credit facility, cash and cash equivalents, repurchase agreements or other balance sheet transactions undertaken at the end of a fiscal quarter for purposes of preserving investment flexibility for the next quarter and unfunded commitments, if any) and is payable quarterly in arrears. The base management fee is calculated based on the average adjusted gross assets at the end of the two most recently completed calendar quarters, and appropriately adjusted for any share issuances or repurchases during the current calendar quarter. For example, if we sold shares on the 45th day of a quarter and did not use the proceeds from the sale to repay outstanding indebtedness, our gross assets for such quarter would give effect to the net proceeds of the issuance for only 45 days of the quarter during which the additional shares were outstanding. For the years ended September 30, 2023, 2022,and 2021, the Investment Adviser earned a base management fee of $11.4 million, $11.9 million, and $10.7 million, respectively, from us. Incentive Fee The incentive fee has two parts, as follows: One part is calculated and payable quarterly in arrears based on our Pre-Incentive Fee Net Investment Income for the immediately preceding calendar quarter. For this purpose, Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income, including any other fees (other than fees for providing managerial assistance), such as amendment, commitment, origination, prepayment penalties, structuring, diligence and consulting fees or other fees received from portfolio companies, accrued during the calendar quarter, minus our operating expenses for the quarter (including the base management fee, any expenses payable under the Administration Agreement and any interest expense or amendment fees under any credit facility and distribution paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as OID, debt instruments with PIK interest and zero coupon securities), accrued income not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, computed net of all realized capital losses or unrealized capital appreciation or depreciation. Pre-Incentive Fee Net Investment Income, expressed as a percentage of the value of our net assets at the end of the immediately preceding calendar quarter, is compared to the hurdle rate of 1.75% per quarter (7.00% annualized). We pay the Investment Adviser an incentive fee with respect to our Pre-Incentive Fee Net Investment Income in each calendar quarter as follows: (1) no incentive fee in any calendar quarter in which our Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate of 1.75%, (2) 50% of our Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than 2.9167% in any calendar quarter (11.67% annualized) (we refer to this portion of our Pre-Incentive Fee Net Investment Income (which exceeds the hurdle but is less than 2.9167%) as the “catch-up,” which is meant to provide our Investment Adviser with 20% of our Pre-Incentive Fee Net Investment Income, as if a hurdle did not apply, if this net investment income exceeds 2.9167% in any calendar quarter), and (3) 20% of the amount of our Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.9167% in any calendar quarter. These calculations are pro-rated for any share issuances or repurchases during the relevant quarter, if applicable. For the years ended September 30, 2023, 2022, and 2021, the Investment Adviser earned $16.9 million, $11.6 million, and $5.3 million, respectively, in incentive fees on net investment income from us. The second part of the incentive fee is determined and payable in arrears as of the end of each calendar year (or upon termination of the Investment Management Agreement, as of the termination date) and equals 20% of our realized capital gains, if any, on a cumulative basis from inception through the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain incentive fees. For the years ended September 30, 2023, 2022, and 2021, the Investment Adviser did not accrue an incentive fee on capital gains as calculated under the Investment Management Agreement (as described above). Under GAAP, we are required to accrue a capital gains incentive fee based upon net realized capital gains and net unrealized capital appreciation and depreciation on investments held at the end of each period. In calculating the capital gains incentive fee accrual, we considered the cumulative aggregate unrealized capital appreciation in the calculation, as a capital gains incentive fee would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the Investment Management Agreement. This accrual is calculated using the aggregate cumulative realized capital gains and losses and cumulative unrealized capital appreciation or depreciation. If such amount is positive at the end of a period, then we record a capital gains incentive fee equal to 20% of such amount, less the aggregate amount of actual capital gains related to incentive fees paid in all prior years. If such amount is negative, then there is no accrual for such year. There can be no assurance that such unrealized capital appreciation will be realized in the future. The incentive fee accrued for but, not payable, under GAAP on our unrealized and realized capital gains for the years ended September 30, 2023, 2022, and 2021 was zero, respectively. (b) Administration Agreement The Administration Agreement with the Administrator was reapproved by our board of directors, including a majority of the directors who are not interested persons of us, in February 2023. Under the Administration Agreement, the Administrator provides administrative services and office facilities to us. For providing these services, facilities and personnel, we have agreed to reimburse the Administrator for its allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Administration Agreement, including rent and our allocable portion of the costs of compensation and related expenses of our Chief Compliance Officer, Chief Financial Officer, Corporate Counsel and their respective staffs. The Administrator also offers, on our behalf, significant managerial assistance to portfolio companies to which we are required to offer such assistance. Reimbursement for certain of these costs is included in administrative services expenses in the Consolidated Statements of Operations. For the years ended September 30, 2023, 2022, and 2021, we reimbursed the Administrator approximately $1.0 million, $0.6 million, and $1.1 million , respectively, including expenses the Administrator incurred for services described above. On July 1, 2022, the Administration Agreement with the Administrator was amended to clarify that the Administrator may be reimbursed by the Company for certain (i) tax and general legal advice and/or services provided to the Company by in-house professionals of the Administrator related to ongoing operations of the Company; and (ii) transactional legal advice and/or services provided to the Company or portfolio companies by in-house professionals of the Administrator or its affiliates on matters related to potential or actual investments and transactions, including tax structuring and/or due diligence. (c) Other Related Party Transactions During the years ended September 30, 2023, 2022, and 2021, the Company made no purchases from and sold no investments to an affiliated fund managed by our Investment Adviser in accordance with, and pursuant to procedures adopted under, Rule 17a-7 of the 1940 Act. Net realized losses on those sales for the same periods amounted to zero, zero, and zero, respectively. For the years ended September 30, 2023, 2022, and 2021, we sold $158.2 million, $275.6 million, and $285.8 million of investments, respectively, in investments to PSSL at fair value and recognized $(0.2) million, $0.8 million, and $0.4 million of net realized gains (loss) for the same periods, respectively. As of September 30, 2023 and 2022, PFLT had payable to PSSL and PTSF of $0.6 million and $3.6 million, respectively, presented as a Due to Affiliates on the consolidated statement of assets and liabilities. These amounts are related to cash owed to PSSL and PTSF from PFLT in connection with trades between the funds. For the years ended September 30, 2023 and 2022, we sold no investments to PTSF.

Agreements and Related Party Transactions

12 Months Ended

Sep. 30, 2023

Agreements and Related Party Transactions

3. AGREEMENTS AND RELATED PARTY TRANSACTIONS

(a) Investment Management Agreement

The Investment Management Agreement with the Investment Adviser was reapproved by our board of directors, including a majority of our directors who are not interested persons of us or the Investment Adviser, in February 2023. Under the Investment Management Agreement, the Investment Adviser, subject to the overall supervision of our board of directors, manages the day-to-day operations of and provides investment advisory services to us. The Investment Adviser serves as the collateral manager to Funding I and has irrevocably directed that any management fee owed with respect to such services is to be paid to the Company so long as the Investment Adviser remains the collateral manager. This arrangement does not increase our consolidated management fee. For providing these services, the Investment Adviser receives a fee from us consisting of two components—a base management fee and an incentive fee.

Base Management Fee

The base management fee is calculated at an annual rate of 1.00% of our “average adjusted gross assets,” which equals our gross assets (net of U.S. Treasury Bills, temporary draws under any credit facility, cash and cash equivalents, repurchase agreements or other balance sheet transactions undertaken at the end of a fiscal quarter for purposes of preserving investment flexibility for the next quarter and unfunded commitments, if any) and is payable quarterly in arrears. The base management fee is calculated based on the average adjusted gross assets at the end of the two most recently completed calendar quarters, and appropriately adjusted for any share issuances or repurchases during the current calendar quarter. For example, if we sold shares on the 45th day of a quarter and did not use the proceeds from the sale to repay outstanding indebtedness, our gross assets for such quarter would give effect to the net proceeds of the issuance for only 45 days of the quarter during which the additional shares were outstanding. For the years ended September 30, 2023, 2022,and 2021, the Investment Adviser earned a base management fee of $11.4 million, $11.9 million, and $10.7 million, respectively, from us.

Incentive Fee

The incentive fee has two parts, as follows:

One part is calculated and payable quarterly in arrears based on our Pre-Incentive Fee Net Investment Income for the immediately preceding calendar quarter. For this purpose, Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income, including any other fees (other than fees for providing managerial assistance), such as amendment, commitment, origination, prepayment penalties, structuring, diligence and consulting fees or other fees received from portfolio companies, accrued during the calendar quarter, minus our operating expenses for the quarter (including the base management fee, any expenses payable under the Administration Agreement and any interest expense or amendment fees under any credit facility and distribution paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as OID, debt instruments with PIK interest and zero coupon securities), accrued income not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, computed net of all realized capital losses or unrealized capital appreciation or depreciation. Pre-Incentive Fee Net Investment Income, expressed as a percentage of the value of our net assets at the end of the immediately preceding calendar quarter, is compared to the hurdle rate of 1.75% per quarter (7.00% annualized). We pay the Investment Adviser an incentive fee with respect to our Pre-Incentive Fee Net Investment Income in each calendar quarter as follows: (1) no incentive fee in any calendar quarter in which our Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate of 1.75%, (2) 50% of our Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than 2.9167% in any calendar quarter (11.67% annualized) (we refer to this portion of our Pre-Incentive Fee Net Investment Income (which exceeds the hurdle but is less than 2.9167%) as the “catch-up,” which is meant to provide our Investment Adviser with 20% of our Pre-Incentive Fee Net Investment Income, as if a hurdle did not apply, if this net investment income exceeds 2.9167% in any calendar quarter), and (3) 20% of the amount of our Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.9167% in any calendar quarter. These calculations are pro-rated for any share issuances or repurchases during the relevant quarter, if applicable. For the years ended September 30, 2023, 2022, and 2021, the Investment Adviser earned $16.9 million, $11.6 million, and $5.3 million, respectively, in incentive fees on net investment income from us.

The second part of the incentive fee is determined and payable in arrears as of the end of each calendar year (or upon termination of the Investment Management Agreement, as of the termination date) and equals 20% of our realized capital gains, if any, on a cumulative basis from inception through the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain incentive fees. For the years ended September 30, 2023, 2022, and 2021, the Investment Adviser did not accrue an incentive fee on capital gains as calculated under the Investment Management Agreement (as described above).

Under GAAP, we are required to accrue a capital gains incentive fee based upon net realized capital gains and net unrealized capital appreciation and depreciation on investments held at the end of each period. In calculating the capital gains incentive fee accrual, we considered the cumulative aggregate unrealized capital appreciation in the calculation, as a capital gains incentive fee would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the Investment Management Agreement. This accrual is calculated using the aggregate cumulative realized capital gains and losses and cumulative unrealized capital appreciation or depreciation. If such amount is positive at the end of a period, then we record a capital gains incentive fee equal to 20% of such amount, less the aggregate amount of actual capital gains related to incentive fees paid in all prior years. If such amount is negative, then there is no accrual for such year. There can be no assurance that such unrealized capital appreciation will be realized in the future. The incentive fee accrued for but, not payable, under GAAP on our unrealized and realized capital gains for the years ended September 30, 2023, 2022, and 2021 was zero, respectively.

(b) Administration Agreement

The Administration Agreement with the Administrator was reapproved by our board of directors, including a majority of the directors who are not interested persons of us, in February 2023. Under the Administration Agreement, the Administrator provides administrative services and office facilities to us. For providing these services, facilities and personnel, we have agreed to reimburse the Administrator for its allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Administration Agreement, including rent and our allocable portion of the costs of compensation and related expenses of our Chief Compliance Officer, Chief Financial Officer, Corporate Counsel and their respective staffs. The Administrator also offers, on our behalf, significant managerial assistance to portfolio companies to which we are required to offer such assistance. Reimbursement for certain of these costs is included in administrative services expenses in the Consolidated Statements of Operations. For the years ended September 30, 2023, 2022, and 2021, we reimbursed the Administrator approximately $1.0 million, $0.6 million, and $1.1 million , respectively, including expenses the Administrator incurred for services described above.

On July 1, 2022, the Administration Agreement with the Administrator was amended to clarify that the Administrator may be reimbursed by the Company for certain (i) tax and general legal advice and/or services provided to the Company by in-house professionals of the Administrator related to ongoing operations of the Company; and (ii) transactional legal advice and/or services provided to the Company or portfolio companies by in-house professionals of the Administrator or its affiliates on matters related to potential or actual investments and transactions, including tax structuring and/or due diligence.

During the years ended September 30, 2023, 2022, and 2021, the Company made no purchases from and sold no investments to an affiliated fund managed by our Investment Adviser in accordance with, and pursuant to procedures adopted under, Rule 17a-7 of the 1940 Act. Net realized losses on those sales for the same periods amounted to zero, zero, and zero, respectively.

For the years ended September 30, 2023, 2022, and 2021, we sold $158.2 million, $275.6 million, and $285.8 million of investments, respectively, in investments to PSSL at fair value and recognized $(0.2) million, $0.8 million, and $0.4 million of net realized gains (loss) for the same periods, respectively.

As of September 30, 2023 and 2022, PFLT had payable to PSSL and PTSF of $0.6 million and $3.6 million, respectively, presented as a Due to Affiliates on the consolidated statement of assets and liabilities. These amounts are related to cash owed to PSSL and PTSF from PFLT in connection with trades between the funds.

For the years ended September 30, 2023 and 2022, we sold no investments to PTSF.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Investments - Schedule of Investments by Industry Classification and Enumerates Percentage, by Fair Value, of Total Portfolio Assets Excluding Cash and Cash Equivalents (Details)

Sep. 30, 2023

Sep. 30, 2022

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

100.00%

Media

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

9.00%

7.00%

Healthcare Providers and Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

9.00%

3.00%

Personal Products

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

8.00%

7.00%

Professional Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

7.00%

9.00%

Aerospace and Defense

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

6.00%

4.00%

Media: Diversified and Production

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

6.00%

5.00%

High Tech Industries

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

5.00%

Healthcare Technology

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

4.00%

Commercial Services & Supplies

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

4.00%

5.00%

IT Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

4.00%

6.00%

Diversified Consumer Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

3.00%

4.00%

Electronic Equipment, Instruments, and Components

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

3.00%

Construction and Building

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

3.00%

Insurance

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

3.00%

2.00%

Distributors

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

3.00%

2.00%

Chemicals, Plastics and Rubber

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

Business Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

3.00%

Consumer Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

Capital Equipment

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

4.00%

Automobiles

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

1.00%

Hotels, Restaurants and Leisure

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

1.00%

Healthcare Equipment and Supplies

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

2.00%

Financial Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Construction & Engineering

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

0.00%

Diversified Financial Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

2.00%

Leisure Products

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Air Freight and Logistics

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Textiles, Apparel and Luxury Goods

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Energy Equipment and Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Internet Software and Services

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Wholesale

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Food Products

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Banking, Finance, Insurance & Real Estate

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

Consumer Finance

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

1.00%

All Other Industries

Schedule of Investments [Line Items]

Fair value investments of portfolio assets excluding cash and cash equivalents percentage

^[1]

2.00%

4.00%

[1]	Excludes investments in PSSL

Taxes and Distributions - Summary of Components of Undistributed Taxable Income on Tax Basis and Reconciliation to Accumulated Deficit on Book Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Undistributed ordinary income – tax basis	$ 17,158	$ 11,141	$ 8,415
Short-term realized loss carried forward	(16,544)	(24,655)	(6,452)
Long-term realized loss carried forward	(78,796)	(65,977)	(59,136)
Distributions payable and other book to tax differences	(5,959)	3,933	(9,669)
Net unrealized appreciation (depreciation) of investments and debt	(27,499)	(15,423)	18,600
Total distributions	$ (111,641)	$ (90,981)	$ (48,242)

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Significant Accounting Policies

12 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Significant Accounting Policies

2. SIGNIFICANT ACCOUNTING POLICIES

The preparation of our Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make estimates and assumptions that affect the reported amount of our assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of income and expenses during the reported periods. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair presentation of financial statements have been included. Changes in the economic and regulatory environment, financial markets, the credit worthiness of our portfolio companies and any other parameters used in determining these estimates and assumptions could cause actual results to differ from these estimates and assumptions. We may reclassify certain prior period amounts to conform to the current period presentation. We have eliminated all intercompany balances and transactions. References to the Financial Accounting Standards Board’s, or FASB’s, Accounting Standards Codification, as amended, or ASC, serve as a single source of accounting literature. Subsequent events are evaluated and disclosed as appropriate for events occurring through the date the Consolidated Financial Statements are issued.

Our Consolidated Financial Statements are prepared in accordance with GAAP, consistent with ASC Topic 946, Financial Services – Investment Companies, and pursuant to the requirements for reporting on Form 10-K/Q and Articles 6, 10 and 12 of Regulation S-X, as appropriate. In accordance with Article 6-09 of Regulation S-X, we have provided a Consolidated Statement of Changes in Net Assets in lieu of a Consolidated Statement of Changes in Stockholders’ Equity.

Restatement of Previously Issued Financial Statements

During the preparation of the financial statements as of and for the year ended September 30, 2023, Management identified an error in the classification and presentation of cash pertaining to the Company’s affiliates – PSSL and PTSF in the September 30, 2022 financial statements. The Company recorded cash activity and due to affiliates pertaining to their investments as a reduction of the cash account instead of presenting the related cash and cash equivalents as an asset and a due to affiliates as a liability. The impact of the error correction is reflected as a $3.6 million increase to cash and cash equivalents and offsetting increase to due to affiliates on the consolidated statement of assets and liabilities as of September 30, 2022 and an increase in due to affiliates within operating activities on the consolidated statement of cash flows totaling $3.4 million and $0.2 million, respectively for the years ended September 30, 2022 and 2021. There was no impact from the error correction to total net assets and net asset value per share as reported on the consolidated statement of assets and liabilities as of September 30, 2022. In addition, there was no impact from the error correction on net investment income or net increase (decrease) in net assets resulting from operations in total or on a per common share basis as reported on the consolidated statements of operations for the years ended September 30, 2022 and 2021. The corrections were reported in the year ended September 30, 2023.

Our significant accounting policies consistently applied are as follows:

(a) Investment Valuations

We expect that there may not be readily available market values for many of the investments, which are or will be in our portfolio, and we value such investments at fair value as determined in good faith by or under the direction of our board of directors using a documented valuation policy and a consistently applied valuation process, as described in this Report. With respect to investments for which there is no readily available market value, the factors that the board of directors may take into account in pricing our investments at fair value include, as relevant, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business, comparison to publicly traded securities and other relevant factors. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, we consider the pricing indicated by the external event to corroborate or revise our valuation. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the price used in an actual transaction may be different than our valuation and the difference may be material. See Note 5.

Our portfolio generally consists of illiquid securities, including debt and equity investments. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, our board of directors undertakes a multi-step valuation process each quarter, as described below:

(1)

Our quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of our Investment Adviser responsible for the portfolio investment;

(2)

Preliminary valuation conclusions are then documented and discussed with the management of the Investment Adviser;

(3)

Our board of directors also engages independent valuation firms to conduct independent appraisals of our investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment. The independent valuation firms review management's preliminary valuations in light of their own independent assessment and also in light of any market quotations obtained from an independent pricing service, broker, dealer or market maker;

(4)

The audit committee of our board of directors reviews the preliminary valuations of our Investment Adviser and those of the independent valuation firms on a quarterly basis, periodically assesses the valuation methodologies of the independent valuation firms, and responds to and supplements the valuation recommendations of the independent valuation firms to reflect any comments; and

(5)

Our board of directors discusses these valuations and determines the fair value of each investment in our portfolio in good faith, based on the input of our Investment Adviser, the respective independent valuation firms and the audit committee.

Our board of directors generally uses market quotations to assess the value of our investments for which market quotations are readily available. We obtain these market values from independent pricing services or at bid prices obtained from at least two brokers or dealers, if available, or otherwise from a principal market maker or a primary market dealer. The Investment Adviser assesses the source and reliability of bids from brokers or dealers. If the board of directors has a bona fide reason to believe any such market quote does not reflect the fair value of an investment, it may independently value such investments by using the valuation procedure that it uses with respect to assets for which market quotations are not readily available.

(b) Security Transactions, Revenue Recognition, and Realized/Unrealized Gains or Losses

Security transactions are recorded on a trade-date basis. We measure realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, using the specific identification method, without regard to unrealized appreciation or depreciation previously recognized, but considering prepayment penalties. Net change in unrealized appreciation or depreciation reflects the change in the fair values of our portfolio investments, the Credit Facility, and the 2023 Notes during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized.

We record interest income on an accrual basis to the extent that we expect to collect such amounts. For loans and debt investments with contractual PIK interest, which represents interest accrued and added to the loan balance that generally becomes due at maturity, we will generally not accrue PIK interest when the portfolio company valuation indicates that such PIK interest is not collectable. We do not accrue as a receivable interest on loans and debt investments if we have reason to doubt our ability to collect such interest. Loan origination fees, original issue discount, or OID, market discount or premium and deferred financing costs on liabilities, which we do not fair value, are capitalized and then accreted or amortized using the effective interest method as interest income or, in the case of deferred financing costs, as interest expense. We record prepayment penalties earned on loans and debt investments as income. Dividend income, if any, is recognized on an accrual basis on the ex-dividend date to the extent that we expect to collect such amounts. From time to time, the Company receives certain fees from portfolio companies, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and amendment fees, and are recorded as other investment income when earned. Litigation settlements are accounted for in accordance with the gain contingency provisions of ASC Subtopic 450-30, Gain Contingencies, or ASC 450-30.

Loans are placed on non-accrual status when principal or interest payments are past due 30 days or more and/or if there is reasonable doubt that principal or interest will be collected. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans are restored to accrual status when past due principal and interest is paid and, in management’s judgment, are likely to remain current. As of September 30, 2023, we had three portfolio companies on non-accrual, representing 0.9% and 0.2% of our overall portfolio on a cost and fair value basis, respectively. As of September 30, 2022, we had two portfolio companies on non-accrual, representing 0.9% and zero percent of our overall portfolio on a cost and fair value basis, respectively.

We have complied with the requirements of Subchapter M of the Code and have qualified to be treated as a RIC for federal income tax purposes. In this regard, we account for income taxes using the asset and liability method prescribed by ASC Topic 740, Income Taxes, or ASC 740. Under this method, income taxes are provided for amounts currently payable and for amounts deferred as tax assets and liabilities based on differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Based upon our qualification and election to be treated as a RIC for U.S federal income tax purposes, we typically do not incur any material federal income taxes. However, we may choose to retain a portion of our calendar year income, which may result in the imposition of a federal tax, or we may incur taxes through our taxable subsidiaries, including the Taxable Subsidiary. For the years ended September 30, 2023, 2022 ,and 2021, we recorded a provision for taxes on net investment income of $1.0 million, $0.4 million and $0.4 million, respectively, pertaining to federal excise tax.

We recognize the effect of a tax position in our Consolidated Financial Statements in accordance with ASC 740 when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by the applicable tax authority. Tax positions not considered to satisfy the “more-likely-than-not” threshold would be recorded as a tax expense or benefit. Penalties or interest, if applicable, that may be assessed relating to income taxes would be classified as other operating expenses in the financial statements. There were no tax accruals relating to uncertain tax positions and no amounts accrued for any related interest or penalties with respect to the periods presented herein. The Company’s determinations regarding ASC 740 may be subject to review and adjustment at a later date based upon factors including, but not limited to, an ongoing analysis of tax laws, regulations and interpretations thereof. Although the Company files both federal and state income tax returns, the Company’s major tax jurisdiction is federal.

The Taxable Subsidiary is subject to U.S. federal, state and local corporate income taxes. The income tax expense and related tax liabilities of the Taxable Subsidiary are reflected in the Company’s consolidated financial statements.

For the year ended September 30, 2023, the Company recognized a provision for taxes of $(2.8) million on unrealized appreciation on investments by the Taxable Subsidiary. For the year ended September 30, 2022, the Company recognized a provision for taxes of $4.6 million on unrealized appreciation on investments by the Taxable Subsidiary. The provision for taxes on unrealized appreciation on investments is the result of netting (i) the expected tax liability on gains from sales of investments and (ii) the expected tax benefit from the use of losses in the current year. As of September 30, 2023 and 2022, $1.8 million and $4.6 million, respectively, was accrued as a deferred tax liability on the Consolidated Statements of Assets and Liabilities relating to unrealized gain on investments held by the Taxable Subsidiary. As of September 30, 2023 and 2022, $0.3 million and zero, respectively, the Company recognized a provision for taxes on realized gain on investments held by the Taxable Subsidiary. During the year ended September 30, 2023, the Company paid zero in taxes on realized gains on the sale of investments held by the Taxable Subsidiary which were offset by subsequent realized losses, resulting in a $1.2 million prepaid tax asset as of September 30, 2023 included under prepaid expenses and other assets in the Consolidated Statements of Assets and Liabilities.

Because U.S. federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and net realized gains recognized for financial reporting purposes. Differences between tax regulations and GAAP may be permanent or temporary. Permanent differences are reclassified among capital accounts in the consolidated financial statements of assets and liabilities to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future.

(d) Distributions and Capital Transactions

Distributions to common stockholders are recorded on the ex-dividend date. The amount to be paid, if any, as a distribution is determined by the board of directors each quarter and is generally based upon the earnings estimated by management. Net realized capital gains, if any, may be distributed at least annually. The tax attributes for distributions will generally include ordinary income and capital gains, but may also include certain tax-qualified dividends and/or a return of capital.

Capital transactions through offerings of our common stock, are recorded when issued and offering costs are charged as a reduction of capital upon issuance of our common stock.

(e) Foreign Currency Translation

Our books and records are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

Fair value of investment securities, other assets and liabilities – at the exchange rates prevailing at the end of the applicable period; and

Purchases and sales of investment securities, income and expenses – at the exchange rates prevailing on the respective dates of such transactions.

Although net assets and fair values are presented based on the applicable foreign exchange rates described above, we do not isolate that portion of the results of operations due to changes in foreign exchange rates on investments, other assets and debt from the fluctuations arising from changes in fair value of investments and liabilities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments and liabilities.

Foreign security and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices to be more volatile than those of comparable U.S. companies or U.S. government securities.

(f) Consolidation

As permitted under Regulation S-X and as explained by ASC paragraph 946-810-45-3, PennantPark Floating Rate Capital Ltd. will generally not consolidate its investment in a company other than an investment company wholly-owned subsidiary or a controlled operating company whose business consists of providing services to us. Accordingly, we have consolidated the results of our taxable subsidiaries, including the Taxable Subsidiary, Funding I and the Securitization Issuer in our Consolidated Financial Statements. We do not consolidate our non-controlling interest in PSSL or PTSF. See further description of our investment in PSSL in Note 4.

(g) Asset Transfers and Servicing

Asset transfers that do not meet ASC Topic 860, Transfers and Servicing, requirements for sale accounting treatment are reflected in the Consolidated Statements of Assets and Liabilities and the Consolidated Schedules of Investments as investments. The creditors of Funding I have received a security interest in all its assets and such assets are not intended to be available to the creditors of PennantPark Floating Rate Capital Ltd. or any of its affiliates.

(h) Recent Accounting Pronouncements

In March 2020, the FASB issued Accounting Standards Update No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The guidance provides optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. FASB approved an (optional) two year extension to December 31, 2024, for transitioning away from LIBOR. The Company utilized the optional expedients and exceptions provided by ASU 2020-04 during the year ended September 30, 2023, the effect of which was not material to the consolidated financial statements and the notes thereto.

In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables - Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The Company has adopted the new accounting standard implementing appropriate controls and procedures, the effect of which was not material to the consolidated financial statements and the notes thereto.

In June 2022, the FASB issued Accounting Standards Update No. 2022-03, or ASU, 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, or ASU 2022-03, which changed the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurements and Disclosures, or ASC 820. The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods therein. Early application is permitted. The Company is currently evaluating the impact the adoption of this new accounting standard will have on its consolidated financial statements, but the impact of the adoption is not expected to be material.

Financial Highlights - Summary of Financial Highlights (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2019

Investment Company, Financial Highlights [Abstract]

Net Asset Value Per Share, Beginning Balance

$ 11.62

^[1]

$ 12.62

$ 12.31

$ 12.97

$ 13.82

Net investment income

^[2]

1.33

1.18

1.02

1.12

1.17

Net change in realized and unrealized (loss) gain

^[2]

(0.56)

(1.1)

0.44

(0.65)

(0.88)

Net increase in net assets resulting from operations

^[2]

0.77

0.08

1.46

0.47

0.29

Distribution of net investment income

^[2],[3]

(1.19)

(1.14)

Distribution of realized gains

^[2],[3]

Total distributions to stockholders

^[2],[3]

(1.19)

(1.14)

(Dilutive) effect of common stock issuance

(0.08)

0.06

Net Asset Value Per Share, Ending Balance

11.13

^[1]

11.62

^[1]

12.62

12.31

12.97

Per share market value, end of year

$ 10.66

$ 9.6

$ 12.79

$ 8.44

$ 11.6

Total return

^[4]

23.84%

(17.76%)

66.47%

(17.15%)

(3.20%)

Shares outstanding at end of year

58,734,702

45,345,638

38,880,728

38,772,074

Ratios / Supplemental Data:

Ratio of operating expenses to average net assets

^[5]

5.90%

5.34%

3.77%

5.19%

3.94%

Ratio of debt related expenses to average net assets

^[6]

6.68%

5.85%

5.00%

5.63%

5.21%

Ratio of total expenses to average net assets

^[6]

12.58%

11.19%

8.77%

10.82%

9.15%

Ratio of net investment income to average net assets

^[6]

11.82%

9.55%

8.07%

9.00%

8.76%

Net assets at end of year

$ 653,605

$ 527,092

$ 490,611

$ 477,270

$ 503,057

Weighted average debt outstanding

$ 615,068

$ 698,765

$ 622,739

$ 737,209

$ 512,135

Weighted average debt per share

^[2]

$ 12.1

$ 17.06

$ 16.06

$ 19.01

$ 13.21

Asset coverage per unit

^[7]

$ 2,304

$ 1,784

$ 1,746

$ 1,677

$ 1,786

Portfolio turnover ratio

28.64%

45.03%

62.58%

35.08%

52.64%

[1]	NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.
[2]	Based on the weighted average shares outstanding for the respective periods.
[3]	The tax status of distributions is calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP, and reported on Form 1099-DIV each calendar year.
[4]	Based on the change in market price per share during the periods and assumes distributions, if any, are reinvested.
[5]	Excludes debt related costs.
[6]	Includes interest and expenses on debt (annualized) as well as Credit Facility amendment and debt issuance costs, if any (not annualized).
[7]	The asset coverage ratio for a class of senior securities representing indebtedness is calculated on our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by the senior securities representing indebtedness at par (changed from fair value). This asset coverage ratio is multiplied by $1,000 to determine the asset coverage per unit.

Consolidated Schedule of Investments
$ in Thousands, $ in Thousands

12 Months Ended

Sep. 30, 2023

USD ($)

Sep. 30, 2022

AUD ($)

Sep. 30, 2022

USD ($)

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[1],[2],[3]

Cost

$ 1,092,878

$ 1,177,357

Fair Value

1,067,174

1,164,254

Investment, Identifier [Axis]: Cash and Cash Equivalents—15.3%, Money Market - BlackRock Federal FD Institutional 30

Schedule Of Investments [Line Items]

Cost

100,555

^[2],[3]

Fair Value

100,555

^[2],[3],[4]

Investment, Identifier [Axis]: Cash and Cash Equivalents—9.1% BNY Mellon Cash

Schedule Of Investments [Line Items]

Cost

13,243

^[5],[6]

Fair Value

13,279

^[5],[6],[7]

Investment, Identifier [Axis]: Cash and Cash Equivalents—9.1% BlackRock Federal FD Institutional 30

Schedule Of Investments [Line Items]

Cost

38,209

^[5],[6]

Fair Value

38,209

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, Equity Interests—8.3% Total

Schedule Of Investments [Line Items]

Cost

90,038

^[2],[3]

Fair Value

$ 54,556

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, Equity Interests—8.3%, New MPE Holdings, LLC (Marketplace Events, LLC), Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

^{[2],[3],[8],[9]}

Par / Shares

$ 349

^{[2],[3],[8],[9]}

Fair Value

$ 3,675

^{[2],[3],[4],[8],[9]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, Equity Interests—8.3%, PennantPark Senior Secured Loan Fund I LLC, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[1],[2],[3],[9],[10]}

Par / Shares

$ 90,038

^{[1],[2],[3],[9],[10]}

Cost

90,038

^{[1],[2],[3],[9],[10]}

Fair Value

50,881

^{[1],[2],[3],[4],[9],[10]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, First Lien Secured Debt—36.8% Total

Schedule Of Investments [Line Items]

Cost

234,601

^[2],[3]

Fair Value

$ 240,440

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, First Lien Secured Debt—36.8%, Marketplace Events, LLC - Super Priority First Lien Term Loan, Maturity 09/30/2025, Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^{[1],[2],[3],[9]}

Industry

Media: Diversified and Production

^{[1],[2],[3],[9]}

Par / Shares

$ 3,261

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^[2],[3],[9]

Industry

Media: Diversified and Production

^[2],[3],[9]

Current Coupon

10.94%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+550

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

550.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 3,582

^[2],[3],[9]

Cost

3,582

^[2],[3],[9]

Fair Value

$ 3,582

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, First Lien Secured Debt—36.8%, Marketplace Events, LLC, Maturity 09/30/2026, Industry Media: Diversified and Production, Current Coupon 10.94%, Basis Point Spread Above Index 3M SOFR+550

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

^[2],[3]

Industry

Media: Diversified and Production

^[2],[3]

Current Coupon

10.94%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 26,771

^[2],[3]

Cost

20,931

^[2],[3]

Fair Value

$ 26,770

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, First Lien Secured Debt—36.8%, PennantPark Senior Secured Loan Fund I LLC, Maturity 05/06/2024, Industry Financial Services, Current Coupon 13.33%, Basis Point Spread Above Index 3M SOFR+800

Schedule Of Investments [Line Items]

Maturity

May 06, 2024

^{[1],[2],[3],[9],[10]}

Industry

Financial Services

^{[1],[2],[3],[9],[10]}

Current Coupon

13.33%

^{[1],[2],[3],[9],[10]}

Basis point spread above index, Percentage

3M SOFR+800

^{[1],[2],[3],[9],[10],[11]}

Basis point spread above index, Amount

800.00%

^{[1],[2],[3],[9],[10],[11]}

Par / Shares

$ 210,088

^{[1],[2],[3],[9],[10]}

Cost

210,088

^{[1],[2],[3],[9],[10]}

Fair Value

$ 210,088

^{[1],[2],[3],[4],[9],[10]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Equity Interests—9.6% New MPE Holdings, LLC (Marketplace Events, LLC), Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

^{[5],[6],[12],[13]}

Par / Shares

349

^{[5],[6],[12],[13]}

Fair Value

1,036

^{[5],[6],[7],[12],[13]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Equity Interests—9.6% PennantPark Senior Secured Loan Fund I LLC, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[5],[6],[13],[14],[15]}

Par / Shares

81,506

^{[5],[6],[13],[14],[15]}

Cost

81,506

^{[5],[6],[13],[14],[15]}

Fair Value

49,434

^{[5],[6],[7],[13],[14],[15]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Equity Interests—9.6% Total

Schedule Of Investments [Line Items]

Cost

81,506

^[5],[6]

Fair Value

$ 50,470

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Marketplace Events, LLC - Super Priority First Lien Term Loan, Maturity 09/30/2025, Industry Media: Diversified and Production, Current Coupon 8.19% (PIK 5.25%), Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^[5],[6],[13]

Sep. 30, 2025

^[5],[6],[13]

Industry

Media: Diversified and Production

^[5],[6],[13]

Current Coupon

8.19%

^[5],[6],[13]

8.19%

^[5],[6],[13]

Basis point spread above index, Percentage

5.25

^[5],[6]

Basis point spread above index, Amount

525.00%

^{[5],[6],[13],[16]}

525.00%

^{[5],[6],[13],[16]}

Basis Point Spread Above Index

3M L+525

^{[5],[6],[13],[16]}

Par / Shares

$ 3,582

^[5],[6],[13]

Cost

3,582

^[5],[6],[13]

Fair Value

$ 3,582

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Marketplace Events, LLC - Super Priority First Lien, Maturity 09/30/2025, Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^{[5],[6],[13],[14]}

Sep. 30, 2025

^{[5],[6],[13],[14]}

Industry

Media: Diversified and Production

^{[5],[6],[13],[14]}

Par / Shares

$ 3,261

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Marketplace Events, LLC - Super Priority First Lien, Maturity 09/30/2025, Industry Media: Diversified and Production, Current Coupon 8.19%, Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

^[5],[6]

Sep. 30, 2026

^[5],[6]

Industry

Media: Diversified and Production

^[5],[6]

Current Coupon

8.19%

^[5],[6]

8.19%

^[5],[6]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Basis Point Spread Above Index

3M L+525

^[5],[6],[16]

Par / Shares

$ 26,771

^[5],[6]

Cost

19,518

^[5],[6]

Fair Value

$ 26,771

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Marketplace Events, LLC, Maturity 09/30/2026, Industry Financial Services, Current Coupon 10.71%, Basis Point Spread Above Index 3M L+800

Schedule Of Investments [Line Items]

Maturity

May 06, 2024

^{[5],[6],[13],[14],[15]}

May 06, 2024

^{[5],[6],[13],[14],[15]}

Industry

Financial Services

^{[5],[6],[13],[14],[15]}

Current Coupon

10.71%

^{[5],[6],[13],[14],[15]}

10.71%

^{[5],[6],[13],[14],[15]}

Basis point spread above index, Amount

800.00%

^{[5],[6],[13],[14],[15],[16]}

800.00%

^{[5],[6],[13],[14],[15],[16]}

Basis Point Spread Above Index

3M L+800

^{[5],[6],[13],[14],[15],[16]}

Par / Shares

$ 190,181

^{[5],[6],[13],[14],[15]}

Cost

190,181

^{[5],[6],[13],[14],[15]}

Fair Value

190,182

^{[5],[6],[7],[13],[14],[15]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Total

Schedule Of Investments [Line Items]

Cost

213,281

^[5],[6]

Fair Value

220,535

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Total

Schedule Of Investments [Line Items]

Cost

294,787

^[5],[6]

Fair Value

$ 271,005

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Control Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% CF512,Inc (Revolver) Maturity Date 08/20/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^{[5],[6],[13],[14]}

Aug. 20, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 955

^{[5],[6],[13],[14]}

Fair Value

$ (14)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Control Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Douglas Products and Packaging Company LLC (Revolver). Maturity Date 10/19/2022, Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Industry

Chemicals, Plastics and Rubber

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Control Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Gantech Acquisition Corp. (Revolver) Maturity Date 05/14/2026 IT Services Current Coupon 9.37% Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Industry

IT Services

^[5],[6]

Current Coupon

9.37%

^[5],[6]

9.37%

^[5],[6]

Basis point spread above index, Percentage

1M L+625

^[5],[6],[16]

Basis point spread above index, Amount

625.00%

^[5],[6],[16]

625.00%

^[5],[6],[16]

Par / Shares

$ 249

^[5],[6]

Cost

249

^[5],[6]

Fair Value

$ 241

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Control Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Lash OpCo LLC Maturity 02/18/2027 Personal Products Current Coupon 11.17% Basis Point Spread Above Index 1M L+700

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

^[5],[6]

Feb. 18, 2027

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

11.17%

^[5],[6]

11.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 10,511

^[5],[6]

Cost

10,323

^[5],[6]

Fair Value

10,300

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Control Non-Affiliate Portfolio Companies—174.6% First Lien Secured Debt - 155.8% Douglas Products and Packaging Company LLC (Revolver). Maturity Date 10/19/2022, Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Par / Shares

3,425

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7%

Schedule Of Investments [Line Items]

Cost

815,742

Fair Value

$ 789,107

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% PL Acquisitionco, LLC Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 9.62% Basis Point Spread Above Index 3M L+650

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[5],[6]

Nov. 09, 2027

^[5],[6]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6]

Current Coupon

9.62%

^[5],[6]

9.62%

^[5],[6]

Basis point spread above index, Percentage

3M L+650

^[5],[6]

Basis point spread above index, Amount

650.00%

^[5],[6]

650.00%

^[5],[6]

Par / Shares

$ 6,110

^[5],[6]

Cost

6,015

^[5],[6]

Fair Value

$ 5,958

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% STV Group Incorporated Maturity 12/11/2026 Industry Construction & Engineering Current Coupon 8.37% Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

Industry

Construction & Engineering

Current Coupon

8.37%

Basis point spread above index, Percentage

1M L+525

^[16]

Basis point spread above index, Amount

525.00%

^[16]

525.00%

^[16]

Par / Shares

$ 4,752

Cost

4,718

Fair Value

$ 4,704

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Spendmend Holdings LLC (Revolver) Maturity 03/01/2028 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[14]

Mar. 01, 2028

^[14]

Industry

Healthcare Technology

^[14]

Basis point spread above index, Percentage

—

^[14],[16]

Par / Shares

$ 772

^[14]

Fair Value

$ (22)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

8.63%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 119

Cost

119

Fair Value

$ 116

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Spendmend Holdings LLC Maturity 03/01/2023 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2023

^[14]

Mar. 01, 2023

^[14]

Industry

Healthcare Technology

^[14]

Par / Shares

$ 1,771

^[14]

Fair Value

$ (36)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

8.63%

Basis point spread above index, Percentage

SOFR + 575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 3,216

Cost

3,179

Fair Value

$ 3,126

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% System Planning and Analysis, Inc. (Revolver) (f/k/a Management Consulting & Research, LLC) Maturity 08/16/2027 Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Par / Shares

$ 5,188

Fair Value

$ (83)

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC) Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.73% Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Current Coupon

8.73%

Basis point spread above index, Percentage

SOFR+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 18,560

Cost

18,237

Fair Value

$ 18,263

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% TPC Canada Parent, Inc. and TPC US Parent, LLC Maturity 11/24/2025 Industry Food Products Current Coupon 7.78% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

^[14],[15]

Nov. 24, 2025

^[14],[15]

Industry

Food Products

^[14],[15]

Current Coupon

7.78%

^[14],[15]

7.78%

^[14],[15]

Basis point spread above index, Percentage

3M L+550

^{[14],[15],[16]}

Basis point spread above index, Amount

550.00%

^{[14],[15],[16]}

550.00%

^{[14],[15],[16]}

Par / Shares

$ 4,863

^[14],[15]

Cost

4,834

^[14],[15]

Fair Value

$ 4,717

^{[7],[14],[15]}

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% TVC Enterprises, LLC (Revolver) Maturity 03/26/2026 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Mar. 26, 2026

^[13],[14]

Mar. 26, 2026

^[13],[14]

Industry

Commercial Services & Supplies

^[13],[14]

Par / Shares

$ 661

^[13],[14]

Fair Value

$ (17)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% TVC Enterprises, LLC Maturity 03/26/2026 Industry Commercial Services & Supplies Current Coupon 8.87% Basis Point Spread Above Index 1M L+600

Schedule Of Investments [Line Items]

Maturity

Mar. 26, 2026

Industry

Commercial Services & Supplies

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 24,721

Cost

24,378

Fair Value

$ 24,103

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% TWS Acquisition Corporation (Revolver) Maturity 06/16/2025 Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

^[13],[14]

Jun. 16, 2025

^[13],[14]

Industry

Diversified Consumer Services

^[13],[14]

Par / Shares

$ 2,628

^[13],[14]

Fair Value

$ (13)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% TWS Acquisition Corporation Maturity 06/16/2025 Industry Diversified Consumer Services Current Coupon 8.76% Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

Industry

Diversified Consumer Services

Current Coupon

8.76%

Basis point spread above index, Percentage

1M L+625

^[16]

Basis point spread above index, Amount

625.00%

^[16]

625.00%

^[16]

Par / Shares

$ 5,468

Cost

5,398

Fair Value

$ 5,441

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Teneo Holdings LLC Maturity 07/18/2025 Industry Diversified Financial Services Current Coupon 8.38% Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

Industry

Diversified Financial Services

Current Coupon

8.38%

Basis point spread above index, Percentage

1M L+525

^[16]

Basis point spread above index, Amount

525.00%

^[16]

525.00%

^[16]

Par / Shares

$ 5,793

Cost

5,718

Fair Value

$ 5,455

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% The Aegis Technologies Group, LLC Maturity 10/31/2025 Industry Aerospace and Defense Current Coupon 9.55% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

Industry

Aerospace and Defense

Current Coupon

9.55%

Basis point spread above index, Percentage

3M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 4,921

Cost

4,868

Fair Value

$ 4,872

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% The Bluebird Group LLC (Revolver) Maturity 07/27/2026 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

^[13],[14]

Jul. 27, 2026

^[13],[14]

Industry

Professional Services

^[13],[14]

Par / Shares

$ 862

^[13],[14]

Fair Value

$ 9

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% The Bluebird Group LLC Maturity 07/27/2026 Industry Professional Services Coupon 10.67% Basis Point Spread Above Index 3M L+700

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

Industry

Professional Services

Current Coupon

10.67%

Basis point spread above index, Percentage

3M L+700

^[16]

Basis point spread above index, Amount

700.00%

^[16]

700.00%

^[16]

Par / Shares

$ 6,265

Cost

6,162

Fair Value

$ 6,328

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% The Infosoft Group, LLC Maturity 09/16/2024 Industry Media: Broadcasting and Subscription Current Coupon 8.51% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Sep. 16, 2024

Industry

Media: Broadcasting and Subscription

Current Coupon

8.51%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 15,229

Cost

15,120

Fair Value

$ 15,115

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% The Vertex Companies, LLC (Revolver) Maturity 08/30/2027 Industry Construction & Engineering

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[13],[14]

Aug. 30, 2027

^[13],[14]

Industry

Construction & Engineering

^[13],[14]

Par / Shares

$ 729

^[13],[14]

Fair Value

$ (4)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

Industry

Construction & Engineering

Current Coupon

8.26%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 182

Cost

182

Fair Value

$ 181

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% The Vertex Companies, LLC Maturity 08/30/2027 Industry Construction & Engineering

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[13],[14]

Aug. 30, 2027

^[13],[14]

Industry

Construction & Engineering

^[13],[14]

Par / Shares

$ 573

^[13],[14]

Fair Value

$ 3

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[13]

Aug. 30, 2027

^[13]

Industry

Construction & Engineering

^[13]

Current Coupon

8.18%

^[13]

8.18%

^[13]

Basis point spread above index, Percentage

1M L+550

^[13],[16]

Basis point spread above index, Amount

550.00%

^[13],[16]

550.00%

^[13],[16]

Par / Shares

$ 2,159

^[13]

Cost

2,122

^[13]

Fair Value

$ 2,148

^[7],[13]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Tyto Athene, LLC (Revolver) Maturity 04/01/2026 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2026

^[13],[14]

Apr. 01, 2026

^[13],[14]

Industry

IT Services

^[13],[14]

Par / Shares

$ 1,040

^[13],[14]

Fair Value

$ (74)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Tyto Athene, LLC Maturity 04/01/2028 Industry IT Services Current Coupon 7.76% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

Industry

IT Services

Current Coupon

7.76%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 12,644

Cost

12,487

Fair Value

$ 11,746

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% UBEO, LLC (Revolver) Maturity 04/03/2024 Industry Capital Equipment

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

^[14]

Apr. 03, 2024

^[14]

Industry

Capital Equipment

^[14]

Par / Shares

$ 2,347

^[14]

Fair Value

$ (35)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

Industry

Capital Equipment

Current Coupon

9.00%

Basis point spread above index, Percentage

3M L+275

^[16]

Basis point spread above index, Amount

275.00%

^[16]

275.00%

^[16]

Par / Shares

$ 587

Cost

587

Fair Value

$ 578

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% UBEO, LLC Maturity 04/03/2024 Industry Capital Equipment Current Coupon 7.60% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

Industry

Capital Equipment

Current Coupon

7.60%

Basis point spread above index, Percentage

3M L+450

^[16]

Basis point spread above index, Amount

450.00%

^[16]

450.00%

^[16]

Par / Shares

$ 17,926

Cost

17,860

Fair Value

$ 17,657

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Unique Indoor Comfort, LLC (Revolver) Maturity 05/24/2027 Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

^[13],[14]

May 24, 2027

^[13],[14]

Industry

Diversified Consumer Services

^[13],[14]

Par / Shares

$ 2,000

^[13],[14]

Fair Value

$ (44)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Unique Indoor Comfort, LLC Maturity 05/24/2027 Industry Diversified Consumer Services Current Coupon 8.95% Basis Point Spread Above Index 3M L + 525

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

Industry

Diversified Consumer Services

Current Coupon

8.95%

Basis point spread above index, Percentage

3M L + 525

^[16]

Basis point spread above index, Amount

525.00%

^[16]

525.00%

^[16]

Par / Shares

$ 9,217

Cost

9,126

Fair Value

$ 9,014

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Unique Indoor Comfort, LLC Term Loan Maturity 05/24/2027 Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

^[13]

May 24, 2027

^[13]

Industry

Diversified Consumer Services

^[13]

Par / Shares

$ 10,760

^[13]

Fair Value

$ (129)

^[7],[13]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Walker Edison Furniture Company LLC Maturity 03/31/2027 Industry Wholesale Current Coupon 12.42% Basis Point Spread Above Index 1M L+875

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

12.42%

Basis point spread above index, Percentage

1M L+875

^[16]

Basis point spread above index, Amount

875.00%

^[16]

875.00%

^[16]

Par / Shares

$ 12,684

Cost

12,434

Fair Value

$ 8,474

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Wildcat Buyerco, Inc. Maturity 02/27/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.38% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

9.38%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 9,853

Cost

9,717

Fair Value

$ 9,532

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Wildcat Buyerco, Inc.(Revolver) Maturity 02/27/2026 Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

^[14]

Feb. 27, 2026

^[14]

Industry

Electronic Equipment, Instruments, and Components

^[14]

Par / Shares

$ 534

^[14]

Fair Value

$ (34)

^[7],[14]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Zips Car Wash, LLC Maturity 03/01/2024 Industry Automobiles Current Coupon 10.30% Basis Point Spread Above Index 3M L+725

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

Industry

Automobiles

Current Coupon

10.30%

Basis point spread above index, Percentage

3M L+725

^[16]

Basis point spread above index, Amount

725.00%

^[16]

725.00%

^[16]

Par / Shares

$ 13,428

Cost

13,284

Fair Value

13,092

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Preferred Equity— 1.6% Ad.net Holdings, Inc. Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^[12],[13]

Par / Shares

6,720

^[12],[13]

Cost

672

^[12],[13]

Fair Value

747

^[12],[13]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Preferred Equity— 1.6% Cartessa Aesthetics, LLC Industry Distributors

Schedule Of Investments [Line Items]

Distributors

1,437,500

1,438

$ 1,499

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Preferred Equity— 1.6% Imagine Topco, LP Industry Software Current Coupon 8.00%

Schedule Of Investments [Line Items]

Software

8.00%

$ 1,236,027

1,236

1,170

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Second Lien Secured Debt—0%

Schedule Of Investments [Line Items]

Cost

1,113

Fair Value

$ 147

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Second Lien Secured Debt—0% Mailsouth Inc. Maturity 04/23/2025 Industry Media: Advertising, Printing and Publishing Current Coupon 0.00% (PIK 15.00%)

Schedule Of Investments [Line Items]

Maturity

Apr. 23, 2025

^[13]

Apr. 23, 2025

^[13]

Industry

Media: Advertising, Printing and Publishing

^[13]

Current Coupon

0.00%

^[13],[17]

0.00%

^[13],[17]

Current Coupons, PIK

15.00%

^[13]

15.00%

^[13]

Par / Shares

$ 1,001

^[13]

Cost

$ 965

^[13]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Second Lien Secured Debt—0% QuantiTech LLC Maturity 02/04/2027 Industry Aerospace and Defense Current Coupon 12.68% Basis Point Spread Above Index 3M L+1,000

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2027

Industry

Aerospace and Defense

Current Coupon

12.68%

Basis point spread above index, Percentage

3M L+1,000

^[16]

Basis point spread above index, Amount

1000.00%

^[16]

1000.00%

^[16]

Par / Shares

$ 150

Cost

148

Fair Value

$ 147

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% LAV Gear Holdings Inc. (Revolver) Maturity 10/31/2024 Capital Equipment,Current Coupon 9.95% Basis Point Spread Above Index 1M L+750

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[5],[6],[13]

Oct. 31, 2024

^[5],[6],[13]

Industry

Capital Equipment

^[5],[6],[13]

Current Coupon

9.95%

^[5],[6],[13]

9.95%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+750

^[5],[6],[13]

Basis point spread above index, Amount

750.00%

^[5],[6],[13]

750.00%

^[5],[6],[13]

Par / Shares

$ 1,721

^[5],[6],[13]

Cost

1,721

^[5],[6],[13]

Fair Value

$ 1,681

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Lash OpCo, LLC (Revolver) Maturity 08/16/2026 Personal Products

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^{[5],[6],[13],[14]}

Aug. 16, 2026

^{[5],[6],[13],[14]}

Industry

Personal Products

^{[5],[6],[13],[14]}

Par / Shares

$ 1,321

^[5],[6],[13]

Fair Value

$ (26)

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Cadence Aerospace, LLC Maturity Date 11/14/2023 Industry Aerospace and Defense Current Coupon PIK 9.50% Basis Point Spread Above Index 3M L+850

Schedule Of Investments [Line Items]

Current Coupons, PIK

9.50%

^[5],[6]

9.50%

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Efficient Exigo Intermediate II, LLC Maturity Date 03/15/2024, Software

Schedule Of Investments [Line Items]

Industry

Software

^[14]

Cost

$ 2,758

^[14]

Fair Value

$ (41)

^[7],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Exigo Intermediate II, LLC Maturity Date 03/15/2024 Industry Software

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2024

^[14]

Mar. 15, 2024

^[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Hancock Roofing and Construction L.L.C. (Revolver) Maturity Date 12/31/2026 Industry Insurance

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^{[5],[6],[13],[14]}

Dec. 31, 2026

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies – 149.7% e Commission Financial Services, Inc, (Revolver) Maturity Date 10/05/2023 Industry Banking, Finance, Insurance & Real Estate

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^{[5],[6],[13],[14],[15]}

Oct. 05, 2023

^{[5],[6],[13],[14],[15]}

Industry

Banking, Finance, Insurance & Real Estate

^{[5],[6],[13],[14],[15]}

Par / Shares

$ 2,500

^{[5],[6],[13],[14],[15]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9 System Planning and Analysis, Inc.(f/k/a Management Consulting & Research, LLC) Maturity 08/16/2027 Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Par / Shares

$ 5,188

^[1]

Fair Value

$ (57)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Schlesinger Global, Inc. (Revolver) Maturity 07/14/2025 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 375

^{[1],[2],[3],[9]}

Fair Value

$ (12)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Seaway Buyer, LLC Maturity 06/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 11.54% Basis Point Spread Above Index 3M SOFR +615

Schedule Of Investments [Line Items]

Maturity

Jun. 13, 2029

^[2],[3]

Industry

Chemicals, Plastics and Rubber

^[2],[3]

Current Coupon

11.54%

^[2],[3]

Basis point spread above index, Percentage

615

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+615

^{[2],[3],[11],[18]}

Par / Shares

$ 1,921

^[2],[3]

Cost

1,895

^[2],[3]

Fair Value

$ 1,863

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Sigma Defense Systems, LLC (Revolver) Maturity 12/18/2028 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^{[1],[2],[3],[9]}

Industry

IT Services

^{[1],[2],[3],[9]}

Par / Shares

$ 786

^[2],[3]

Fair Value

$ (12)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Signature Systems Holding Company (Revolver) Maturity 05/03/2024 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

^[1],[2],[3]

Industry

Commercial Services & Supplies

^[1],[2],[3]

Par / Shares

$ 1,747

^[1],[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Signature Systems Holding Company Maturity 05/03/2024 Industry Commercial Services & Supplies Current Coupon 12.04% Basis Point Spread Above Index 1M L+665

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

12.04%

^[2],[3]

Basis point spread above index, Percentage

665

^{[3],[11],[18]}

Basis Point Spread Above Index

1M L+665

^{[2],[3],[11],[18]}

Par / Shares

$ 9,708

^[2],[3]

Cost

9,688

^[2],[3]

Fair Value

$ 9,708

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Skopima Consilio Parent, LLC Maturity 05/17/2028 Industry Business Services Current Coupon 9.93% Basis Point Spread Above Index 1M SOFR+450

Schedule Of Investments [Line Items]

Maturity

May 17, 2028

^[2],[3]

Industry

Business Services

^[2],[3]

Current Coupon

9.93%

^[2],[3]

Basis point spread above index, Percentage

450

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+450

^{[2],[3],[11],[18]}

Par / Shares

$ 600

^[2],[3]

Cost

588

^[2],[3]

Fair Value

$ 587

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Smile Brands Inc. (Revolver) Maturity 10/14/2025 Industry Healthcare and Pharmaceuticals Current Coupon 10.11% Basis Point Spread Above Index 1M SOFR+450

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare and Pharmaceuticals

^{[1],[2],[3],[9]}

Current Coupon

10.11%

^[2],[3]

Basis point spread above index, Percentage

450

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+450

^{[3],[11],[18]}

Par / Shares

$ 1,508

^[2],[3]

Cost

1,508

^[2],[3]

Fair Value

$ 1,355

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Smile Brands Inc. LC (Revolver) Maturity 10/14/2025 Industry Healthcare and Pharmaceuticals

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare and Pharmaceuticals

^{[1],[2],[3],[9]}

Par / Shares

$ 108

^{[1],[2],[3],[9]}

Fair Value

$ (11)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Smile Brands Inc. Maturity 10/14/2025 Industry Healthcare and Pharmaceuticals Current Coupon 9.97% Basis Point Spread Above Index 3M SOFR+450

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

^[2],[3]

Industry

Healthcare and Pharmaceuticals

^[2],[3]

Current Coupon

9.97%

^[2],[3]

Basis point spread above index, Percentage

450

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+450

^{[2],[3],[11],[18]}

Par / Shares

$ 2,437

^[2],[3]

Cost

2,437

^[2],[3]

Fair Value

$ 2,190

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Solutionreach, Inc. (Revolver) Maturity 01/17/2024 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

^{[1],[2],[3],[9]}

Industry

Healthcare Technology

^{[1],[2],[3],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Solutionreach, Inc. Maturity 01/17/2024 Industry Healthcare Technology Current Coupon 12.37% Basis Point Spread Above Index 1M SOFR+700

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

12.37%

^[2],[3]

Basis point spread above index, Percentage

700

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+700

^{[2],[3],[11],[18]}

Par / Shares

$ 4,657

^[2],[3]

Cost

4,650

^[2],[3]

Fair Value

$ 4,638

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Spendmend Holdings LLC (Revolver) Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 11.03% Basis Point Spread Above Index 1M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

11.03%

^[2],[3]

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+565

^{[2],[3],[11],[18]}

Par / Shares

$ 357

^[2],[3]

Cost

357

^[2],[3]

Fair Value

$ 349

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Spendmend Holdings LLC - Unfunded Term Loan Maturity 03/01/2024 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

^[1],[2],[3]

Industry

Healthcare Technology

^[1],[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Spendmend Holdings LLC Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 11.03% Basis Point Spread Above Index SOFR + 565

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

11.03%

^[2],[3]

Basis point spread above index, Amount

565.00%

^{[2],[3],[11],[18]}

Basis Point Spread Above Index

SOFR + 565

^{[2],[3],[11],[18]}

Par / Shares

$ 2,061

^[2],[3]

Cost

2,037

^[2],[3]

Fair Value

$ 2,016

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% System Planning and Analysis, Inc.(f/k/a Management Consulting & Research, LLC) Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 11.49% Basis Point Spread Above Index 6M SOFR+615

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

11.49%

^[2],[3]

Basis point spread above index, Percentage

^{[3],[11],[18]}

Basis Point Spread Above Index

6M SOFR+615

^{[3],[11],[18]}

Par / Shares

$ 18,373

^[2],[3]

Cost

18,109

^[2],[3]

Fair Value

$ 18,171

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% TPC Canada Parent, Inc. and TPC US Parent, LLC Maturity 11/24/2025 Industry Food Products Current Coupon 10.90% Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

^{[2],[3],[10],[18]}

Industry

Food Products

^{[2],[3],[10],[18]}

Current Coupon

10.90%

^{[2],[3],[10],[18]}

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+565

^{[2],[3],[10],[11],[18]}

Par / Shares

$ 4,813

^{[2],[3],[10],[18]}

Cost

4,793

^{[2],[3],[10],[18]}

Fair Value

$ 4,813

^{[2],[3],[4],[10],[18]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% TWS Acquisition Corporation (Revolver) Maturity 06/16/2025 Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

^{[1],[2],[3],[9]}

Industry

Diversified Consumer Services

^{[1],[2],[3],[9]}

Par / Shares

$ 2,628

^{[1],[2],[3],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% TWS Acquisition Corporation Maturity 06/16/2025 Industry Diversified Consumer Services Current Coupon 11.81% Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

11.81%

^[2],[3]

Basis point spread above index, Percentage

640

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+640

^{[2],[3],[11],[18]}

Par / Shares

$ 4,316

^[2],[3]

Cost

4,280

^[2],[3]

Fair Value

$ 4,316

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Teneo Holdings LLC Maturity 07/18/2025 Industry Diversified Financial Services Current Coupon 10.67% Basis Point Spread Above Index 1M SOFR+535

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

^[2],[3]

Industry

Diversified Financial Services

^[2],[3]

Current Coupon

10.67%

^[2],[3]

Basis point spread above index, Percentage

535

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+535

^{[2],[3],[11],[18]}

Par / Shares

$ 5,733

^[2],[3]

Cost

5,683

^[2],[3]

Fair Value

$ 5,725

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% The Aegis Technologies Group, LLC Maturity 10/31/2025 Industry Aerospace and Defense Current Coupon 12.04% Basis Point Spread Above Index 3M SOFR+615

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

12.04%

^[2],[3]

Basis point spread above index, Percentage

665

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+665

^{[2],[3],[11],[18]}

Par / Shares

$ 5,421

^[2],[3]

Cost

5,374

^[2],[3]

Fair Value

$ 5,340

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% The Bluebird Group LLC (Revolver) Maturity 07/28/2026 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 28, 2026

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 862

^[1],[9]

Fair Value

$ (3)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% The Bluebird Group LLC Maturity 07/28/2026 Industry Professional Services Current Coupon 12.79% Basis Point Spread Above Index 3M SOFR+740

Schedule Of Investments [Line Items]

Maturity

Jul. 28, 2026

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

12.79%

^[2],[3]

Basis point spread above index, Percentage

740

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+740

^{[2],[3],[11],[18]}

Par / Shares

$ 2,368

^[2],[3]

Cost

2,331

^[2],[3]

Fair Value

$ 2,359

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% The Vertex Companies, LLC (Revolver) Maturity 08/30/2027 Industry Construction & Engineering

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^{[1],[2],[3],[9]}

Industry

Construction & Engineering

^{[1],[2],[3],[9]}

Par / Shares

$ 606

^{[1],[2],[3],[9]}

Fair Value

$ (5)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

11.67%

^[2],[3]

Basis point spread above index, Percentage

635

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+635

^{[2],[3],[11],[18]}

Par / Shares

$ 305

^[2],[3]

Cost

305

^[2],[3]

Fair Value

$ 303

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% The Vertex Companies, LLC Maturity 08/30/2027 Industry Construction & Engineering Current Coupon 11.67% Basis Point Spread Above Index 1M SOFR+635

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[2],[3],[9]

Industry

Construction & Engineering

^[2],[3],[9]

Current Coupon

11.67%

^[2],[3],[9]

Basis point spread above index, Percentage

635

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+635

^{[2],[3],[9],[11],[18]}

Par / Shares

$ 1,979

^[2],[3],[9]

Cost

1,949

^[2],[3],[9]

Fair Value

$ 1,961

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Tyto Athene, LLC (Revolver) Maturity 04/01/2026 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2026

^{[1],[2],[3],[9]}

Industry

IT Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,040

^{[1],[2],[3],[9]}

Fair Value

$ (94)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Tyto Athene, LLC Maturity 04/01/2028 Industry IT Services Current Coupon 10.90% Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

^[2],[3]

Industry

IT Services

^[2],[3]

Current Coupon

10.90%

^[2],[3]

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+565

^{[2],[3],[11],[18]}

Par / Shares

$ 11,928

^[2],[3]

Cost

11,803

^[2],[3]

Fair Value

$ 10,879

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sales Benchmark Index LLC (Revolver) Maturity 01/03/2025 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,293

^[1],[9]

Fair Value

$ (7)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sales Benchmark Index LLC Maturity 01/03/2025 Industry Professional Services Current Coupon 11.59% Basis Point Spread Above Index 3M SOGR+620

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.59%

^[2],[3]

Basis point spread above index, Percentage

620

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+620

^{[3],[11],[18]}

Par / Shares

$ 2,596

^[2],[3]

Cost

2,581

^[2],[3]

Fair Value

$ 2,583

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sargent & Greenleaf Inc. (Revolver) Maturity 07/14/2025 Industry Professional Services, Instruments, and Components Current Coupon 12.07 Basis Point Spread Above Index 1M SOFR+715

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

12.07%

^[2],[3]

Basis point spread above index, Percentage

715

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR + 715

^{[2],[3],[11],[18]}

Par / Shares

$ 14,490

^[2],[3]

Cost

14,428

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sargent & Greenleaf Inc. (Revolver) Maturity 12/20/2024 Industry Electronic Equipment, Instruments, and Components Current Coupon 12.07 Basis Point Spread Above Index 1M SOFR+715

Schedule Of Investments [Line Items]

Fair Value

$ 14,019

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sargent & Greenleaf Inc. (Revolver) Maturity 12/20/2024 Industry Electronic Equipment, Instruments, and Components Current Coupon 12.92% Basis Point Spread Above Index 1M SOFR+760

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

12.92%

^[2],[3]

Basis point spread above index, Percentage

760

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+760

^{[2],[3],[11],[18]}

Par / Shares

$ 280

^[2],[3]

Cost

280

^[2],[3]

Fair Value

$ 277

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sargent & Greenleaf Inc. Maturity 12/20/2024 Industry Electronic Equipment, Instruments, and Components Current Coupon 12.93% Basis Point Spread Above Index 1M SOFR+760

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

12.93%

^[2],[3]

Basis point spread above index, Percentage

760

^{[1],[3],[9],[11],[18]}

Basis Point Spread Above Index

1M SOFR+760

^{[2],[3],[11],[18]}

Par / Shares

$ 3,439

^[2],[3]

Cost

3,425

^[2],[3]

Fair Value

$ 3,405

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Schlesinger Global, Inc. (Revolver) Maturity 07/14/2025 Industry Professional Services Current Coupon 10.14% Basis Point Spread Above Index 3M SOFR+715

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^[2],[3]

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3]

Current Coupon

12.52%

^[2],[3]

Basis point spread above index, Percentage

715

^{[1],[3],[9],[11],[18]}

Basis Point Spread Above Index

3M SOFR+715

^{[2],[3],[11],[18]}

Par / Shares

$ 1,495

^[2],[3]

Cost

1,495

^[2],[3]

Fair Value

$ 1,446

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sigma Defense Systems, LLC (Revolver) Maturity 12/18/2025 Industry IT Services Current Coupon 14.04% Basis Point Spread Above Index 3M L+865

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[2],[3],[9]

Industry

IT Services

^[2],[3],[9]

Current Coupon

14.04%

^[2],[3],[9]

Basis point spread above index, Percentage

865

^{[3],[9],[11],[18]}

Basis Point Spread Above Index

3M SOFR+865

^{[2],[3],[9],[11],[18]}

Par / Shares

$ 1,835

^[2],[3],[9]

Cost

1,835

^[2],[3],[9]

Fair Value

$ 1,807

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sigma Defense Systems, LLC Maturity 12/18/2025 Industry IT Services Current Coupon 14.04% Basis Point Spread Above Index 3M L+865

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[2],[3]

Industry

IT Services

^[2],[3]

Current Coupon

14.04%

^[2],[3]

Basis point spread above index, Percentage

865

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+865

^{[2],[3],[11],[18]}

Par / Shares

$ 10,277

^[2],[3]

Cost

10,123

^[2],[3]

Fair Value

$ 10,123

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), HPA SPQ Aggregator LP, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 750,399

^[2],[3],[19]

Cost

750

^[2],[3],[19]

Fair Value

$ 751

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), HV Watterson Holdings, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 100,000

^[2],[3],[19]

Cost

100

^[2],[3],[19]

Fair Value

$ 111

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), Hancock Claims Consultants Investors, LLC, Industry Insurance

Schedule Of Investments [Line Items]

Industry

Insurance

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 450,000

^{[2],[3],[8],[9],[19]}

Cost

448

^{[2],[3],[8],[9],[19]}

Fair Value

$ 338

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), IIN Group Holdings, LLC, Industry Consumer Services

Schedule Of Investments [Line Items]

Industry

Consumer Services

^[2],[3],[19]

Par / Shares

$ 1,000

^[2],[3],[19]

Cost

$ 1,000

^[2],[3],[19]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), Icon Partners V C, L.P, Industry Internet Software and Services

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^[2],[3],[19]

Par / Shares

$ 1,863,863

^[2],[3],[19]

Cost

1,864

^[2],[3],[19]

Fair Value

$ 1,671

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), Icon Partners V C, L.P, Industry Internet Software and Services One

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^{[1],[2],[3],[9],[19]}

Par / Shares

$ 636,137

^{[1],[2],[3],[9],[19]}

Fair Value

$ (66)

^{[1],[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), IHS Parent Holdngs, L.P, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^[2],[3],[19]

Par / Shares

$ 1,218,045

^[2],[3],[19]

Cost

1,218

^[2],[3],[19]

Fair Value

$ 1,642

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Software

^[2],[3],[19]

Par / Shares

$ 1,236,027

^[2],[3],[19]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), Ironclad Holdco, LLC, (Applied Technical Services, LLC), Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 5,811

^{[2],[3],[8],[9],[19]}

Cost

573

^{[2],[3],[8],[9],[19]}

Fair Value

$ 844

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), Ironclad Holdco, LLC, ITC Infusion Co-invest, LP, Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[2],[3],[8],[19]}

Par / Shares

$ 116,032

^{[2],[3],[8],[19]}

Cost

1,160

^{[2],[3],[8],[19]}

Fair Value

$ 1,268

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), Ironclad Holdco, LLC, ITC Rumba, LLC (Cano Health, LLC), Industry Healthcare and Pharmaceuticals

Schedule Of Investments [Line Items]

Industry

Healthcare and Pharmaceuticals

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 46,763

^{[2],[3],[8],[9],[19]}

Cost

117

^{[2],[3],[8],[9],[19]}

Fair Value

$ 144

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, A1 Garage Equity, LLC, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[8],[19]}

Par / Shares

$ 647,943

^{[2],[3],[8],[19]}

Cost

648

^{[2],[3],[8],[19]}

Fair Value

$ 691

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, AG Investco LP One, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 194,836

^{[1],[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, AG Investco LP, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 805,164

^{[2],[3],[8],[9],[19]}

Cost

805

^{[2],[3],[8],[9],[19]}

Fair Value

$ 1,074

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Ad.net Holdings, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 7,467

^{[2],[3],[8],[9],[19]}

Cost

$ 75

^{[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Affinion Group Holdings, Inc. (Warrants), Maturity 04/10/2024, Industry Consumer Goods: Durable

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2024

^[2],[3]

Industry

Consumer Goods: Durable

^[2],[3],[19]

Par / Shares

$ 8,893

^[2],[3],[19]

Cost

$ 245

^[2],[3],[19]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Altamira Intermediate Company II, Inc, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 1,437,500

^{[2],[3],[9],[19]}

Cost

1,437

^{[2],[3],[9],[19]}

Fair Value

$ 1,456

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 2,018

^{[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Athletico Holdings, LLC, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[2],[3],[8],[19]}

Par / Shares

$ 4,678

^{[2],[3],[8],[19]}

Cost

5,000

^{[2],[3],[8],[19]}

Fair Value

$ 4,516

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, BioDerm Holdings, LP, Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^[2],[3],[19]

Par / Shares

$ 1,313

^[2],[3],[19]

Cost

1,313

^[2],[3],[19]

Fair Value

$ 1,514

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Burgess Point Holdings, LP, Industry Auto Components

Schedule Of Investments [Line Items]

Industry

Auto Components

^[2],[3],[19]

Par / Shares

$ 100

^[2],[3],[19]

Cost

100

^[2],[3],[19]

Fair Value

$ 109

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, By Light Investco LP, Industry High Tech Industries

Schedule Of Investments [Line Items]

Industry

High Tech Industries

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 22,789

^{[2],[3],[8],[9],[19]}

Cost

849

^{[2],[3],[8],[9],[19]}

Fair Value

$ 11,610

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), StellPen Holdings, LLC (CF512, Inc.), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 161,538

^{[2],[3],[9],[19]}

Cost

161

^{[2],[3],[9],[19]}

Fair Value

$ 178

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), TAC LifePort Holdings, LLC, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 533,833

^{[2],[3],[8],[9],[19]}

Cost

524

^{[2],[3],[8],[9],[19]}

Fair Value

$ 850

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[2],[3],[8],[9],[10],[18],[19]}

Par / Shares

$ 21,527

^{[2],[3],[8],[9],[10],[18],[19]}

Cost

^{[2],[3],[8],[9],[10],[18],[19]}

Fair Value

$ 212

^{[2],[3],[4],[8],[9],[10],[18],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), TTower Arch Infolinks Media, LP (Infolinks Media Buyco, LLC), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[19]}

Par / Shares

$ 219,056

^{[2],[3],[8],[19]}

Cost

206

^{[2],[3],[8],[19]}

Fair Value

$ 388

^{[2],[3],[4],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Media

^{[1],[2],[3],[8],[19]}

Par / Shares

$ 146,550

^{[1],[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), TWD Parent Holdings, LLC (The Vertex Companies, LLC), Industry Construction & Engineering

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[2],[3],[9],[19]}

Par / Shares

$ 749

^{[2],[3],[9],[19]}

Cost

^{[2],[3],[9],[19]}

Fair Value

$ 1

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), UniTek Global Services, Inc.(C), Industry Telecommunications

Schedule Of Investments [Line Items]

Industry

Telecommunications

^[2],[3],[19]

Par / Shares

$ 213,739

^[2],[3],[19]

Schedule Of Investments [Line Items]

Industry

Telecommunications

^[2],[3],[19]

Par / Shares

$ 23,889

^[2],[3],[19]

Schedule Of Investments [Line Items]

Industry

Insurance

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 400

^{[2],[3],[8],[9],[19]}

Cost

362

^{[2],[3],[8],[9],[19]}

Fair Value

$ 555

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), Urology Partners Co., L.P, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[2],[3],[19]

Par / Shares

$ 694,444

^[2],[3],[19]

Cost

694

^[2],[3],[19]

Fair Value

$ 653

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), WCP IvyRehab QP CF Feeder, LP, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[2],[3],[8],[19]}

Par / Shares

$ 3,715,012

^{[2],[3],[8],[19]}

Cost

3,754

^{[2],[3],[8],[19]}

Fair Value

$ 4,319

^{[2],[3],[4],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[1],[2],[3],[8],[19]}

Par / Shares

$ 284,988

^{[1],[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), Walker Edison Holdco LLC, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[2],[3],[19]

Par / Shares

$ 36,458

^[2],[3],[19]

Cost

3,393

^[2],[3],[19]

Fair Value

$ 1,766

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Class B (US Dominion, Inc.), Wildcat Parent, LP (Wildcat Buyerco, Inc.), Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 2,240

^{[2],[3],[8],[9],[19]}

Cost

224

^{[2],[3],[8],[9],[19]}

Fair Value

$ 794

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Connatix Parent, LLC, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 38,278

^{[2],[3],[9],[19]}

Cost

421

^{[2],[3],[9],[19]}

Fair Value

$ 222

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Crane 1 Acquisition Parent Holdings, L.P, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[9],[19]}

Par / Shares

$ 130

^{[2],[3],[9],[19]}

Cost

120

^{[2],[3],[9],[19]}

Fair Value

$ 199

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Delta InvestCo LP (Sigma Defense Systems, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 760,273

^{[2],[3],[8],[9],[19]}

Cost

747

^{[2],[3],[8],[9],[19]}

Fair Value

$ 1,358

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 244,597

^{[1],[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, EDS Topco, LP, Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3],[19]

Par / Shares

$ 1,125,000

^[2],[3],[19]

Cost

1,125

^[2],[3],[19]

Fair Value

$ 1,062

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Exigo, LLC, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^[2],[3],[19]

Par / Shares

$ 541,667

^[2],[3],[19]

Cost

542

^[2],[3],[19]

Fair Value

$ 612

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, FedHC InvestCo LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 21,665

^{[2],[3],[8],[9],[19]}

Cost

727

^{[2],[3],[8],[9],[19]}

Fair Value

$ 3,062

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, FedHC InvestCo LP, Industry Aerospace and Defense One

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 7,566

^{[1],[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Five Star Parent Holdings, LLC, Industry Hotels, Restaurants and Leisure

Schedule Of Investments [Line Items]

Industry

Hotels, Restaurants and Leisure

^[2],[3],[19]

Par / Shares

$ 655,714

^[2],[3],[19]

Cost

656

^[2],[3],[19]

Fair Value

$ 800

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, GCOM InvestCo LP, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 19,184

^{[2],[3],[9],[19]}

Cost

3,342

^{[2],[3],[9],[19]}

Fair Value

$ 3,165

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge ETE Blocker, LLC, Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Industry

Diversified Consumer Services

^[2],[3],[19]

Par / Shares

$ 374,444

^[2],[3],[19]

Cost

374

^[2],[3],[19]

Fair Value

$ 371

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge Lash Coinvest LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^{[2],[3],[9],[19]}

Par / Shares

$ 1,485,953

^{[2],[3],[9],[19]}

Cost

227

^{[2],[3],[9],[19]}

Fair Value

$ 6,810

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge Loving Tan, LP, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[2],[3],[19]

Par / Shares

$ 2,481,781

^[2],[3],[19]

Cost

2,482

^[2],[3],[19]

Fair Value

$ 2,088

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge Schlesinger Coinvest LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[9],[19]}

Par / Shares

$ 465

^{[2],[3],[9],[19]}

Cost

476

^{[2],[3],[9],[19]}

Fair Value

$ 344

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge TVC Coinvest, LLC (TVC Enterprises, LLC), Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[9],[19]}

Par / Shares

$ 391,144

^{[2],[3],[9],[19]}

Fair Value

$ 1,153

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Go Dawgs Capital III, LP, Industry Building Products

Schedule Of Investments [Line Items]

Industry

Building Products

^[2],[3],[19]

Par / Shares

$ 324,675

^[2],[3],[19]

Cost

325

^[2],[3],[19]

Fair Value

$ 711

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, KL Stockton Co-Invest LP (Any Hour Services), Industry Energy Equipment and Services

Schedule Of Investments [Line Items]

Industry

Energy Equipment and Services

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 382,353

^{[2],[3],[8],[9],[19]}

Cost

382

^{[2],[3],[8],[9],[19]}

Fair Value

$ 775

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Kentucky Racing Holdco, LLC, Industry Hotels, Restaurants and Leisure

Schedule Of Investments [Line Items]

Industry

Hotels, Restaurants and Leisure

^{[2],[3],[8],[19]}

Par / Shares

$ 87,345

^{[2],[3],[8],[19]}

Fair Value

$ 883

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Kinetic Purchaser, LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[2],[3],[19]

Par / Shares

$ 1,734,775

^[2],[3],[19]

Cost

1,735

^[2],[3],[19]

Fair Value

$ 2,508

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, LEP Pequod Holdings, LP, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^[2],[3],[19]

Par / Shares

$ 350

^[2],[3],[19]

Cost

865

^[2],[3],[19]

Fair Value

$ 1,006

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, LJ Avalon, LP, Industry Construction & Engineering

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^[2],[3],[19]

Par / Shares

$ 1,638,043

^[2],[3],[19]

Cost

1,638

^[2],[3],[19]

Fair Value

$ 1,736

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Lightspeed Investment Holdco LLC, Industry Healthcare Technology

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^{[2],[3],[9],[19]}

Par / Shares

$ 585,587

^{[2],[3],[9],[19]}

Cost

586

^{[2],[3],[9],[19]}

Fair Value

$ 1,588

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, MDI Aggregator, LP, Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Industry

Commodity Chemicals

^[2],[3],[19]

Par / Shares

$ 10,761

^[2],[3],[19]

Cost

1,077

^[2],[3],[19]

Fair Value

$ 1,155

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, MSpark, LLC, Industry Media: Advertising, Printing and Publishing

Schedule Of Investments [Line Items]

Industry

Media: Advertising, Printing and Publishing

^[2],[3],[19]

Par / Shares

$ 3,988

^[2],[3],[19]

Cost

$ 1,287

^[2],[3],[19]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Magnolia Topco LP - Class A Common Equity, Industry Automobiles

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 5,144

^{[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Magnolia Topco LP - Class B Common Equity, Industry Automobiles

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 28,231

^{[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 835

^{[2],[3],[9],[19]}

Fair Value

$ 468

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Meadowlark Title, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[8],[19]}

Par / Shares

$ 819,231

^{[2],[3],[8],[19]}

Cost

$ 805

^{[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Municipal Emergency Services, Inc, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[2],[3],[9],[19]}

Par / Shares

$ 1,973,370

^{[2],[3],[9],[19]}

Cost

2,005

^{[2],[3],[9],[19]}

Fair Value

$ 2,230

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, NEPRT Parent Holdings, LLC (Recteq, LLC), Industry Leisure Products

Schedule Of Investments [Line Items]

Industry

Leisure Products

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 1,494

^{[2],[3],[8],[9],[19]}

Cost

1,448

^{[2],[3],[8],[9],[19]}

Fair Value

$ 101

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, NORA Parent Holdings, LLC, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[2],[3],[19]

Par / Shares

$ 2,544

^[2],[3],[19]

Cost

2,544

^[2],[3],[19]

Fair Value

$ 2,544

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 14,960

^{[2],[3],[9],[19]}

Cost

$ 15

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, North Haven Saints Equity Holdings, LP, Industry Healthcare Technology

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^{[2],[3],[8],[19]}

Par / Shares

$ 223,602

^{[2],[3],[8],[19]}

Cost

224

^{[2],[3],[8],[19]}

Fair Value

$ 223

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, OHCP V BC COI, L.P, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^[2],[3],[19]

Par / Shares

$ 743,750

^[2],[3],[19]

Cost

744

^[2],[3],[19]

Fair Value

$ 650

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, OHCP V BC COI, L.P, One, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[1],[2],[3],[8],[19]}

Par / Shares

$ 506,250

^{[1],[2],[3],[8],[19]}

Fair Value

$ (64)

^{[1],[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[2],[3],[9],[19]}

Par / Shares

$ 1,474

^{[2],[3],[9],[19]}

Cost

$ 15

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, OceanSound Discovery Equity, LP (Holdco Sands Intermediate, LLC), Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 173,638

^{[2],[3],[8],[9],[19]}

Cost

1,614

^{[2],[3],[8],[9],[19]}

Fair Value

$ 3,768

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, PennantPark-TSO Senior Loan Fund, LP, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[2],[3],[9],[19]}

Par / Shares

$ 11,167,847

^{[2],[3],[9],[19]}

Cost

11,168

^{[2],[3],[9],[19]}

Fair Value

$ 9,345

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Pink Lily Holdco, LLC (PL Acquisitions, LLC), Industry Textiles, Apparel and Luxury Goods

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^{[2],[3],[8],[19]}

Par / Shares

$ 1,735

^{[2],[3],[8],[19]}

Cost

1,735

^{[2],[3],[8],[19]}

Fair Value

$ 55

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Pragmatic Institute, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 610,583

^[2],[3],[19]

Cost

611

^[2],[3],[19]

Fair Value

$ 238

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Quad (U.S.) Co-Invest, L.P, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 266,864

^[2],[3],[19]

Cost

267

^[2],[3],[19]

Fair Value

$ 312

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, QuantiTech InvestCo II LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 40

^{[2],[3],[8],[9],[19]}

Cost

^{[2],[3],[8],[9],[19]}

Fair Value

$ 26

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, QuantiTech InvestCo LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 712

^{[2],[3],[8],[9],[19]}

Cost

^{[2],[3],[8],[9],[19]}

Fair Value

$ 446

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, QuantiTech InvestCo LP, Industry Aerospace and Defense One

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 955

^{[1],[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, RFMG Parent, LP (Rancho Health MSO, Inc.), Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[2],[3],[9],[19]}

Par / Shares

$ 1,050,000

^{[2],[3],[9],[19]}

Cost

1,050

^{[2],[3],[9],[19]}

Fair Value

$ 1,052

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, SBI Holdings Investments LLC (Sales Benchmark Index LLC), Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[9],[19]}

Par / Shares

$ 64,634

^{[2],[3],[9],[19]}

Cost

646

^{[2],[3],[9],[19]}

Fair Value

$ 515

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, SP L2 Holdings, LLC (Ledge Lounger, Inc.), Industry Leisure Products

Schedule Of Investments [Line Items]

Industry

Leisure Products

^[2],[3],[19]

Par / Shares

$ 360,103

^[2],[3],[19]

Cost

360

^[2],[3],[19]

Fair Value

$ 247

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, SSC Dominion Holdings, LLC, Industry Capital Equipment

Schedule Of Investments [Line Items]

Industry

Capital Equipment

^[2],[3],[19]

Par / Shares

$ 24

^[2],[3],[19]

Cost

^[2],[3],[19]

Fair Value

$ 1,098

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Seaway Topco, LP, Industry Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Industry

Chemicals, Plastics and Rubber

^[2],[3],[19]

Par / Shares

$ 296

^[2],[3],[19]

Cost

296

^[2],[3],[19]

Fair Value

$ 235

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Signature CR Intermediate Holdco, Inc, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[9],[19]}

Par / Shares

$ 70

^{[2],[3],[9],[19]}

Cost

^{[2],[3],[9],[19]}

Fair Value

$ 1,784

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, eCommission Holding Corporation, Industry Banking, Finance, Insurance & Real Estate

Schedule Of Investments [Line Items]

Industry

Banking, Finance, Insurance & Real Estate

^{[2],[3],[9],[10],[19]}

Par / Shares

$ 20

^{[2],[3],[9],[10],[19]}

Cost

251

^{[2],[3],[9],[10],[19]}

Fair Value

$ 463

^{[2],[3],[4],[9],[10],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Walker Edison Furniture Company, LLC - Funded Junior Revolver, Maturity 03/31/2027, Industry Wholesale, Current Coupon 11.68% Basis Point Spread Above Index 1M SOFR+635

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[2],[3]

Industry

Wholesale

^[2],[3]

Current Coupon

11.68%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+635

^[2],[3],[11]

Basis point spread above index, Amount

635.00%

^[2],[3],[11]

Par / Shares

$ 1,667

^[2],[3]

Cost

1,667

^[2],[3]

Fair Value

$ 1,667

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Walker Edison Furniture Company, LLC - Unfunded Term Loan, Maturity 03/31/2027, Industry Wholesale

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[2],[3]

Industry

Wholesale

^[2],[3]

Par / Shares

$ 333

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Walker Edison Furniture, LLC - Term Loan, Maturity 03/31/2027, Industry Wholesale, Current Coupon 12.18% Basis Point Spread Above Index 1M SOFR+685

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[2],[3]

Industry

Wholesale

^[2],[3]

Current Coupon

12.18%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+685

^[2],[3],[11]

Basis point spread above index, Amount

685.00%

^[2],[3],[11]

Par / Shares

$ 3,521

^[2],[3]

Cost

3,521

^[2],[3]

Fair Value

$ 3,521

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Wildcat Buyerco, Inc, Maturity 02/27/2026, Industry Electronic Equipment, Instruments, and Components, Current Coupon 10.54% Basis Point Spread Above Index 3M SOFR+515

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

10.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+515

^[2],[3],[11]

Basis point spread above index, Amount

515.00%

^[2],[3],[11]

Par / Shares

$ 7,646

^[2],[3]

Cost

7,579

^[2],[3]

Fair Value

$ 7,570

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Wildcat Buyerco, Inc. (Revolver), Maturity 02/27/2026, Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

^[1],[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[1],[2],[3]

Par / Shares

$ 534

^[1],[2],[3]

Fair Value

$ (5)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Zips Car Wash, LLC, Maturity 03/01/2024, Industry Automobiles, Current Coupon 12.67% Basis Point Spread Above Index 1M SOFR+735

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

^[2],[3]

Industry

Automobiles

^[2],[3]

Current Coupon

12.67%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+735

^[2],[3],[11]

Basis point spread above index, Amount

735.00%

^[2],[3],[11]

Par / Shares

$ 13,249

^[2],[3]

Cost

13,206

^[2],[3]

Fair Value

$ 12,818

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Ad.net Holdings, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 6,720

^{[2],[3],[9],[19]}

Cost

672

^{[2],[3],[9],[19]}

Fair Value

$ 757

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 2,018

^{[2],[3],[8],[9],[19]}

Cost

2,018

^{[2],[3],[8],[9],[19]}

Fair Value

$ 1,633

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Cartessa Aesthetics, LLC (Preferred), Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[2],[3],[8],[19]}

Par / Shares

$ 1,437,500

^{[2],[3],[8],[19]}

Cost

1,438

^{[2],[3],[8],[19]}

Fair Value

$ 2,007

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Gauge Lash Coinvest LLC (Preferred), Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[2],[3],[19]

Par / Shares

$ 108,546

^[2],[3],[19]

Cost

586

^[2],[3],[19]

Fair Value

$ 1,319

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Gauge Schlesinger Coinvest LLC (Preferred Equity), Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 64

^[2],[3],[19]

Cost

^[2],[3],[19]

Fair Value

$ 47

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Imagine Topco, LP, Industry Software, Current Coupon 8.00%

Schedule Of Investments [Line Items]

Industry

Software

^[2],[3],[19]

Current Coupon

8.00%

^[2],[3],[19]

Par / Shares

$ 1,236,027

^[2],[3],[19]

Cost

1,236

^[2],[3],[19]

Fair Value

$ 1,246

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Magnolia Topco LP - Class A Preferred Equity, Industry Automobiles

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 5

^{[2],[3],[8],[19]}

Cost

^{[2],[3],[8],[19]}

Fair Value

$ 6

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Magnolia Topco LP - Class B Preferred Equity, Industry Automobiles

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 28

^{[2],[3],[8],[19]}

Cost

^{[2],[3],[8],[19]}

Fair Value

$ 24

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 835

^{[2],[3],[9],[19]}

Cost

835

^{[2],[3],[9],[19]}

Fair Value

$ 1,112

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 733

^{[2],[3],[9],[19]}

Cost

733

^{[2],[3],[9],[19]}

Fair Value

$ 489

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[2],[3],[9],[19]}

Par / Shares

$ 1,327

^{[2],[3],[9],[19]}

Cost

$ 133

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, PL Acquisitionco, LLC (Preferred Equity), Industry Textiles, Apparel and Luxury Goods

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^[2],[3],[19]

Par / Shares

$ 61

^[2],[3],[19]

Cost

^[2],[3],[19]

Fair Value

$ 66

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Signature CR Intermediate Holdco, Inc, Industry Commercial Services & Supplies, Current Coupon 12.00%

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[9],[19]}

Current Coupon

12.00%

^{[2],[3],[9],[19]}

Par / Shares

$ 1,323

^{[2],[3],[9],[19]}

Cost

1,323

^{[2],[3],[9],[19]}

Fair Value

$ 2,158

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Super Senior Preferred Equity, UniTek Global Services, Inc, Industry Telecommunications, Current Coupon 13.50%

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[2],[3],[9],[19]}

Current Coupon

13.50%

^{[2],[3],[9],[19]}

Par / Shares

$ 1,047,317

^{[2],[3],[9],[19]}

Cost

$ 670

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Super Senior Preferred Equity, UniTek Global Services, Inc. - Senior Preferred Equity, Industry Telecommunications, Current Coupon 19.00%

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[2],[3],[9],[19]}

Current Coupon

19.00%

^{[2],[3],[9],[19]}

Par / Shares

$ 448,851

^{[2],[3],[9],[19]}

Cost

$ 449

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[2],[3],[8],[9],[10],[18],[19]}

Par / Shares

$ 409

^{[2],[3],[8],[9],[10],[18],[19]}

Cost

409

^{[2],[3],[8],[9],[10],[18],[19]}

Fair Value

$ 598

^{[2],[3],[4],[8],[9],[10],[18],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, TWD Parent Holdings, LLC (The Vertex Companies, LLC), Industry Construction & Engineering

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[2],[3],[9],[19]}

Par / Shares

$ 37

^{[2],[3],[9],[19]}

Cost

^{[2],[3],[9],[19]}

Fair Value

$ 45

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, UniTek Global Services, Inc, Industry Telecommunications

Schedule Of Investments [Line Items]

Industry

Telecommunications

^[2],[3],[19]

Current Coupon

20.00%

^[2],[3],[19]

Par / Shares

$ 343,861

^[2],[3],[19]

Cost

344

^[2],[3],[19]

Fair Value

$ 64

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Second Lien Secured Debt—0.0%, Mailsouth Inc, Maturity 04/23/2025, Industry Media: Advertising, Printing and Publishing

Schedule Of Investments [Line Items]

Maturity

Apr. 23, 2025

^[2],[3],[9]

Industry

Media: Advertising, Printing and Publishing

^[2],[3],[9]

Par / Shares

$ 1,161

^[2],[3],[9]

Cost

$ 965

^[2],[3],[9]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Second Lien Secured Debt—0.0%, QuantiTech LLC, Maturity 02/04/2027, Industry Aerospace and Defense, Current Coupon 15.50% Basis Point Spread Above Index 3M SOFR+1010

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

15.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+1,010

^[2],[3],[11]

Basis point spread above index, Amount

1010.00%

^[2],[3],[11]

Par / Shares

$ 150

^[2],[3]

Cost

148

^[2],[3]

Fair Value

149

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total Common Equity/Warrants— 14.5%

Schedule Of Investments [Line Items]

Cost

72,159

^[2],[3],[19]

Fair Value

94,733

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total First Lien Senior Secured Debt - 101.9%,

Schedule Of Investments [Line Items]

Cost

683,940

^[2],[3]

Fair Value

665,725

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total Preferred Equity— 1.8%

Schedule Of Investments [Line Items]

Cost

11,028

^[2],[3],[19]

Fair Value

11,571

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total Second Lien Secured Debt—0.0%

Schedule Of Investments [Line Items]

Cost

1,113

^[2],[3]

Fair Value

$ 149

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 169.5% First Lien Senior Secured Debt - 149.7% Sargent & Greenleaf Inc. (Revolver) Maturity 12/20/2024 Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[1],[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[1],[2],[3]

Par / Shares

$ 801

^[1],[2],[3]

Fair Value

$ (8)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 169.5% First Lien Senior Secured Debt - 149.7% Spendmend Holdings LLC (Revolver) Maturity 03/01/2028 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[1],[2],[3]

Industry

Healthcare Technology

^[1],[2],[3]

Par / Shares

$ 535

^[2],[3]

Fair Value

$ (12)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—111.8% First Lien Senior Secured Debt—101.9% STV Group Incorporated Maturity 12/11/2026 Industry Construction & Engineering Current Coupon 10.67% Basis Point Spread Above Index 1M SOFR+535

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

10.67%

^[2],[3]

Basis point spread above index, Percentage

535

^{[3],[11],[18]}

Basis Point Spread Above Index

1M SOFR+535

^{[2],[3],[11],[18]}

Par / Shares

$ 4,752

^[2],[3]

Cost

4,724

^[2],[3]

Fair Value

$ 4,657

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Five Star Buyer, Inc. (Revolver) Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure

Schedule Of Investments [Line Items]

Maturity

Feb. 23, 2028

^[1],[2],[3]

Industry

Hotels, Restaurants and Leisure

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Basis point spread above index, Percentage

—

^{[1],[2],[3],[11]}

Par / Shares

$ 741

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (11)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Five Star Buyer, Inc. - DDTL B Unfunded Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure

Schedule Of Investments [Line Items]

Maturity

Feb. 23, 2028

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 837

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (13)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Five Star Buyer, Inc. Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure Current Coupon 12.43% Basis Point Spread Above Index 1M SOFR+710

Schedule Of Investments [Line Items]

Maturity

Feb. 23, 2028

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

12.43%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+710

^[2],[3],[11]

Basis point spread above index, Amount

710.00%

^[2],[3],[11]

Par / Shares

$ 4,569

^[2],[3]

Cost

4,488

^[2],[3]

Fair Value

$ 4,500

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Gauge ETE Blocker, LLC - Promissory Note Maturity 05/19/2029 Industry Diversified Consumer Services Current Coupon 12.56%

Schedule Of Investments [Line Items]

Maturity

May 19, 2029

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

12.56%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 215

^[2],[3]

Cost

215

^[2],[3]

Fair Value

$ 215

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Global Holdings InterCo LLC Maturity 03/16/2026 Industry Diversified Financial Services Current Coupon 11.96% Basis Point Spread Above Index 3M SOFR+660

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

^[2],[3]

Industry

Diversified Financial Services

^[2],[3]

Current Coupon

11.96%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+660

^[2],[3],[11]

Basis point spread above index, Amount

660.00%

^[2],[3],[11]

Par / Shares

$ 3,279

^[2],[3]

Cost

3,252

^[2],[3]

Fair Value

$ 3,115

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Graffiti Buyer, Inc. (Revolver) Maturity 08/10/2027 Industry Trading Companies & Distributors

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^{[1],[2],[3],[9]}

Industry

Trading Companies & Distributors

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 596

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (6)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^[2],[3],[9]

Industry

Trading Companies & Distributors

^[2],[3],[9]

Current Coupon

10.98%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+575

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

575.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 269

^[2],[3],[9]

Cost

269

^[2],[3],[9]

Fair Value

$ 266

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Graffiti Buyer, Inc. Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 10.98% Basis Point Spread Above Index 3M SOFR+550

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^[2],[3]

Industry

Trading Companies & Distributors

^[2],[3]

Current Coupon

10.98%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 736

^[2],[3]

Cost

729

^[2],[3]

Fair Value

$ 729

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Graffiti Buyer, Inc. Maturity 12/8/2023 Industry Trading Companies & Distributors

Schedule Of Investments [Line Items]

Maturity

Dec. 08, 2023

^{[1],[2],[3],[9]}

Industry

Trading Companies & Distributors

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 332

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ 0

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% HW Holdco, LLC (Revolver) Maturity 12/10/2024 Industry Media

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 1,335

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (20)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% HW Holdco, LLC (Revolver) Maturity 12/10/2024 Industry Media Current Coupon 11.82% Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.82%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 116

^[2],[3]

Cost

116

^[2],[3]

Fair Value

$ 114

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% HW Holdco, LLC Maturity 12/10/2024 Industry Media Current Coupon 11.70% Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.70%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 9,000

^[2],[3]

Cost

8,973

^[2],[3]

Fair Value

$ 8,865

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Hancock Roofing and Construction L.L.C. (Revolver) Maturity 12/31/2026 Industry Insurance

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^{[1],[2],[3],[9]}

Industry

Insurance

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 415

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (10)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[2],[3],[9]

Industry

Insurance

^[2],[3],[9]

Current Coupon

10.92%

^[2],[3],[9]

Basis point spread above index, Percentage

1M SOFR+560

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

560.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 335

^[2],[3],[9]

Cost

335

^[2],[3],[9]

Fair Value

$ 327

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

10.93%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+560

^[2],[3],[11]

Basis point spread above index, Amount

560.00%

^[2],[3],[11]

Par / Shares

$ 4,172

^[2],[3]

Cost

4,112

^[2],[3]

Fair Value

$ 4,068

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Holdco Sands Intermediate, LLC (Revolver) Maturity 11/23/2027 Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2027

^[1],[2],[3]

Industry

Aerospace and Defense

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,791

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ 0

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Holdco Sands Intermediate, LLC Maturity 11/23/2028 Industry Aerospace and Defense Current Coupon 11.32% Basis Point Spread Above Index 6M SOFR+585

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

11.32%

^[2],[3]

Basis point spread above index, Percentage

6M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 4,913

^[2],[3]

Cost

4,835

^[2],[3]

Fair Value

$ 4,913

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% IG Investments Holdings, LLC (Revolver) Maturity 09/22/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2027

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 477

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (7)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% IG Investments Holdings, LLC Maturity 09/22/2028 Industry Professional Services Current Coupon 11.45% Basis Point Spread Above Index 3M SOFR+610

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2028

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Current Coupon

11.45%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

3M SOFR+610

^{[1],[2],[3],[9],[11]}

Basis point spread above index, Amount

610.00%

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 4,428

^{[1],[2],[3],[9]}

Cost

4,356

^{[1],[2],[3],[9]}

Fair Value

$ 4,362

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% ITI Holdings, Inc. (Revolver) Maturity 03/03/2028 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^[1],[2],[3]

Industry

IT Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 165

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (3)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^[2],[3]

Industry

IT Services

^[2],[3]

Current Coupon

12.05%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+560

^[2],[3],[11]

Basis point spread above index, Amount

560.00%

^[2],[3],[11]

Par / Shares

$ 500

^[2],[3]

Cost

500

^[2],[3]

Fair Value

$ 490

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Imagine Acquisitionco, LLC (Revolver) Maturity 11/15/2027 Industry Software

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[1],[2],[3]

Industry

Software

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,193

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (18)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Imagine Acquisitionco, LLC Maturity 11/15/2027 Industry Software

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[1],[2],[3]

Industry

Software

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,657

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (8)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Inception Fertility Ventures, LLC Maturity 12/31/2024 Industry Healthcare Providers and Services Current Coupon 12.50% Basis Point Spread Above Index 3M SOFR+715

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2024

^[2],[3]

Industry

Healthcare Providers and Services

^[2],[3]

Current Coupon

12.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+715

^[2],[3],[11]

Basis point spread above index, Amount

715.00%

^[2],[3],[11]

Par / Shares

$ 14,803

^[2],[3]

Cost

14,656

^[2],[3]

Fair Value

$ 14,803

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infinity Home Services Holdco, Inc. (Revolver) Maturity 12/28/2028 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2028

^[1],[2],[3]

Industry

Commercial Services & Supplies

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,292

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ 0

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infinity Home Services Holdco, Inc. - Unfunded Term Loan Maturity 12/28/2028 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2023

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 1,135

^[2],[3]

Cost

^[2],[3]

Fair Value

$ 0

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infinity Home Services Holdco, Inc. Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 12.24% Basis Point Spread Above Index 3M SOFR+685

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2028

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

12.24%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+685

^[2],[3],[11]

Basis point spread above index, Amount

685.00%

^[2],[3],[11]

Par / Shares

$ 2,089

^[2],[3]

Cost

2,089

^[2],[3]

Fair Value

$ 2,089

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infolinks Media Buyco, LLC Maturity 11/01/2026 Industry Media Current Coupon 11.17% Basis Point Spread Above Index 1M SOFR+585

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.17%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 3,178

^[2],[3]

Cost

3,143

^[2],[3]

Fair Value

$ 3,178

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infolinks Media Buyco, LLC- Unfunded Term Loan Maturity 11/01/2023 Industry Media

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2023

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 387

^[2],[3]

Cost

^[2],[3]

Fair Value

$ 4

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Integrated Data Services (Revolver) Maturity 08/01/2029 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Aug. 01, 2029

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 3,096

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (72)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Integrative Nutrition, LLC Maturity 01/31/2025 Industry Consumer Services Current Coupon 12.54% Basis Point Spread Above Index 3M SOFR+715

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2025

^[2],[3]

Industry

Consumer Services

^[2],[3]

Current Coupon

12.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+715

^[2],[3],[11]

Basis point spread above index, Amount

715.00%

^[2],[3],[11]

Par / Shares

$ 15,521

^[2],[3]

Cost

15,457

^[2],[3]

Fair Value

$ 14,590

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Integrity Marketing Acquisition, LLC (Revolver) Maturity 08/27/2026 Industry Insurance

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2026

^{[1],[2],[3],[9]}

Industry

Insurance

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 511

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ 0

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2025

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 8,000

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (40)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2026

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

11.57%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+615

^[2],[3],[11]

Basis point spread above index, Amount

615.00%

^[2],[3],[11]

Par / Shares

$ 15,666

^[2],[3]

Cost

15,553

^[2],[3]

Fair Value

$ 15,509

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Inventus Power, Inc. (Revolver) Maturity 06/30/2025 Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2025

^{[1],[2],[3],[9]}

Industry

Electronic Equipment, Instruments, and Components

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 1,729

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (35)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Inventus Power, Inc. Maturity 06/30/2025 Industry Electronic Equipment, Instruments, and Components Current Coupon 12.93% Basis Point Spread Above Index 1M SOFR+761

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2025

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

12.93%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+761

^[2],[3],[11]

Basis point spread above index, Amount

761.00%

^[2],[3],[11]

Par / Shares

$ 4,988

^[2],[3]

Cost

4,894

^[2],[3]

Fair Value

$ 4,888

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% K2 Pure Solutions NoCal, L.P. (Revolver) Maturity 12/20/2023 Industry Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

^{[1],[2],[3],[9]}

Industry

Chemicals, Plastics and Rubber

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 1,429

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ 0

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Kinetic Purchaser, LLC - (Revolver) Maturity 11/10/2026 Industry Personal Products

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2026

^[1],[2],[3]

Industry

Personal Products

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 3,435

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (52)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Kinetic Purchaser, LLC Maturity 11/10/2027 Industry Personal Products Current Coupon 11.54% Basis Point Spread Above Index 3M SOFR+615

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

11.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+615

^[2],[3],[11]

Basis point spread above index, Amount

615.00%

^[2],[3],[11]

Par / Shares

$ 17,253

^[2],[3]

Cost

16,999

^[2],[3]

Fair Value

$ 16,995

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% LAV Gear Holdings, Inc. (Revolver) Maturity 10/31/2024 Industry Capital Equipment Current Coupon 11.02% (PIK 5.50%) Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[2],[3],[9]

Industry

Capital Equipment

^[2],[3],[9]

Current Coupons, PIK

5.50%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+565

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

565.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 1,721

^[2],[3],[9]

Cost

1,721

^[2],[3],[9]

Fair Value

$ 1,700

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% LAV Gear Holdings, Inc. Maturity 10/31/2024 Industry Capital Equipment Current Coupon 11.83% (PIK 5.50%) Basis Point Spread Above Index 1M SOFR+643

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[2],[3]

Industry

Capital Equipment

^[2],[3]

Current Coupon

11.83%

^[2],[3]

Current Coupons, PIK

5.50%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+643

^[2],[3],[11]

Basis point spread above index, Amount

643.00%

^[2],[3],[11]

Par / Shares

$ 7,544

^[2],[3]

Cost

7,537

^[2],[3]

Fair Value

$ 7,454

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% LJ Avalon Holdings, LLC (Revolver) Maturity 01/31/2030 Industry Construction & Engineering

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2030

^[1],[2],[3]

Industry

Construction & Engineering

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Basis point spread above index, Percentage

—

^{[1],[2],[3],[11]}

Par / Shares

$ 1,130

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (23)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% LJ Avalon Holdings, LLC - Unfunded Term Loan Maturity 07/31/2024 Industry Construction & Engineering

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2024

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 2,424

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (12)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% LJ Avalon Holdings, LLC Maturity 02/01/2030 Industry Construction & Engineering Current Coupon 11.79 Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Feb. 01, 2030

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 400

^[2],[3]

Cost

394

^[2],[3]

Fair Value

$ 392

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Lash OpCo, LLC (Revolver) Maturity 08/16/2026 Industry Personal Products

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 986

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (10)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^[2],[3],[9]

Industry

Personal Products

^[2],[3],[9]

Current Coupon

12.15%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+675

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

675.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 2,086

^[2],[3],[9]

Cost

2,086

^[2],[3],[9]

Fair Value

$ 2,065

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Lash OpCo, LLC Maturity 02/18/2027 Industry Personal Products Current Coupon 11.88% Basis Point Spread Above Index 1M SOFR+675

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

11.88%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+675

^[2],[3],[11]

Basis point spread above index, Amount

675.00%

^[2],[3],[11]

Par / Shares

$ 10,404

^[2],[3]

Cost

10,264

^[2],[3]

Fair Value

$ 10,300

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Ledge Lounger, Inc. (Revolver) Maturity 11/09/2026 Industry Leisure Products

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[1],[2],[3]

Industry

Leisure Products

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 789

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (10)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Ledge Lounger, Inc. Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.79 Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[2],[3]

Industry

Leisure Products

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 3,709

^[2],[3]

Cost

3,677

^[2],[3]

Fair Value

$ 3,663

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Lightspeed Buyer Inc. (Revolver) Maturity 02/03/2026 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^{[1],[2],[3],[9]}

Industry

Healthcare Technology

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 2,499

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (25)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Lightspeed Buyer Inc. Maturity 02/03/2026 Industry Healthcare Technology Current Coupon 10.67 Basis Point Spread Above Index 1M SOFR+535

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

10.67%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+535

^[2],[3],[11]

Basis point spread above index, Amount

535.00%

^[2],[3],[11]

Par / Shares

$ 22,543

^[2],[3]

Cost

22,282

^[2],[3]

Fair Value

$ 22,317

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Loving Tan Intermediate II, Inc. (Revolver) Maturity 05/31/2028 Industry Personal Products

Schedule Of Investments [Line Items]

Maturity

May 31, 2028

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 1,523

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (23)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 31, 2028

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

12.39%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+700

^[2],[3],[11]

Basis point spread above index, Amount

700.00%

^[2],[3],[11]

Par / Shares

$ 1,861

^[2],[3]

Cost

1,861

^[2],[3]

Fair Value

$ 1,833

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Loving Tan Intermediate II, Inc. Maturity 05/31/2028 Industry Personal Products Current Coupon 12.39 Basis Point Spread Above Index 3M SOFR+700

Schedule Of Investments [Line Items]

Maturity

May 31, 2028

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

12.39%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+700

^[2],[3],[11]

Basis point spread above index, Amount

700.00%

^[2],[3],[11]

Par / Shares

$ 19,263

^[2],[3]

Cost

18,894

^[2],[3]

Fair Value

$ 18,974

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Lucky Bucks, LLC - DIP Maturity 10/20/2023 Industry Hotels, Restaurants and Leisure Current Coupon 15.30 Basis Point Spread Above Index 3M SOFR+1000

Schedule Of Investments [Line Items]

Maturity

Oct. 20, 2023

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

15.30%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+1000

^[2],[3],[11]

Basis point spread above index, Amount

1000.00%

^[2],[3],[11]

Par / Shares

$ 160

^[2],[3]

Cost

158

^[2],[3]

Fair Value

$ 160

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Lucky Bucks, LLC Maturity 07/20/2027 Industry Hotels, Restaurants and Leisure Current Coupon 0.00

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

^[2],[3],[19]

Industry

Hotels, Restaurants and Leisure

^[2],[3],[19]

Current Coupon

0.00%

^[2],[3],[19]

Basis point spread above index, Percentage

—

^{[2],[3],[11],[19]}

Par / Shares

$ 4,489

^[2],[3],[19]

Cost

4,210

^[2],[3],[19]

Fair Value

$ 1,182

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% MAG DS Corp. Maturity 04/01/2027 Industry Aerospace and Defense Current Coupon 10.99% Basis Point Spread Above Index 3M SOFR+550

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

10.99%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 3,674

^[2],[3]

Cost

3,564

^[2],[3]

Fair Value

$ 3,481

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% MBS Holdings, Inc. (Revolver) Maturity 04/16/2027 Industry Internet Software and Services

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

^{[1],[2],[3],[9]}

Industry

Internet Software and Services

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 972

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (15)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

^[2],[3]

Industry

Internet Software and Services

^[2],[3]

Current Coupon

11.17%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 185

^[2],[3]

Cost

185

^[2],[3]

Fair Value

$ 182

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% MDI Buyer, Inc. (Revolver) Maturity 07/25/2028 Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[1],[2],[3]

Industry

Commodity Chemicals

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 412

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (5)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[2],[3],[9]

Industry

Commodity Chemicals

^[2],[3],[9]

Current Coupon

10.91%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+600

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

600.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 361

^[2],[3],[9]

Cost

361

^[2],[3],[9]

Fair Value

$ 353

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% MDI Buyer, Inc. Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 11.09% Basis Point Spread Above Index 3M SOFR+625

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[2],[3]

Industry

Commodity Chemicals

^[2],[3]

Current Coupon

11.09%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+625

^[2],[3],[11]

Basis point spread above index, Amount

625.00%

^[2],[3],[11]

Par / Shares

$ 2,041

^[2],[3]

Cost

2,003

^[2],[3]

Fair Value

$ 1,997

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Mars Acquisition Holdings Corp. (Revolver) Maturity 05/14/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 2,435

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (24)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 8,728

^[2],[3]

Cost

8,616

^[2],[3]

Fair Value

$ 8,640

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Meadowlark Acquirer, LLC (Revolver) Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Basis point spread above index, Percentage

—

^{[1],[2],[3],[11]}

Par / Shares

$ 1,693

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (42)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Meadowlark Acquirer, LLC - Term Loan I Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,103

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (17)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Meadowlark Acquirer, LLC - Term Loan II Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 9,483

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (142)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Meadowlark Acquirer, LLC Maturity 12/10/2027 Industry Professional Services Current Coupon 11.04% Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 1,978

^[2],[3]

Cost

1,954

^[2],[3]

Fair Value

$ 1,929

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Mission Critical Electronics, Inc. (Revolver) Maturity 03/28/2024 Industry Capital Equipment

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^{[1],[2],[3],[9]}

Industry

Capital Equipment

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 1,325

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (6)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[1],[2],[3]

Industry

Capital Equipment

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 707

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (1)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Mission Critical Electronics, Inc. Maturity 03/28/2024 Industry Capital Equipment Current Coupon 10.65% Basis Point Spread Above Index SOFR +515

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[2],[3]

Industry

Capital Equipment

^[2],[3]

Current Coupon

10.65%

^[2],[3]

Basis point spread above index, Percentage

SOFR +515

^[2],[3],[11]

Basis point spread above index, Amount

515.00%

^[2],[3],[11]

Par / Shares

$ 3,571

^[2],[3]

Cost

3,560

^[2],[3]

Fair Value

$ 3,553

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. (Revolver) Maturity 10/01/2027 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Oct. 01, 2027

^{[1],[2],[3],[9]}

Industry

Distributors

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 568

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (12)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Oct. 01, 2027

^[2],[3],[9]

Industry

Distributors

^[2],[3],[9]

Current Coupon

11.04%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+565

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

565.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 379

^[2],[3],[9]

Cost

379

^[2],[3],[9]

Fair Value

$ 370

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. - Unfunded Term Loan A Maturity 06/16/2023 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2023

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 387

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (9)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. - Unfunded Term Loan B Maturity 12/16/2024 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Dec. 16, 2024

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 1,264

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (28)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. Maturity 10/01/2027 Industry Distributors Current Coupon 11.04% Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Oct. 01, 2027

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 1,181

^[2],[3]

Cost

1,144

^[2],[3]

Fair Value

$ 1,155

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% NBH Group LLC (Revolver) Maturity 08/19/2026 Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 1,677

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (34)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% NORA Acquisition, LLC (Revolver) Maturity 08/31/2029 Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2029

^{[1],[2],[3],[9]}

Industry

Healthcare Providers and Services

^{[1],[2],[3],[9]}

Par / Shares

$ 5,479

^[1],[9]

Fair Value

$ (110)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% NORA Acquisition, LLC Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 11.74% Basis Point Spread Above Index 3M SOFR+635

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2029

^[2],[3]

Industry

Healthcare Providers and Services

^[2],[3]

Current Coupon

11.74%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+635

^{[3],[11],[18]}

Basis point spread above index, Amount

635.00%

^{[3],[11],[18]}

Par / Shares

$ 41,489

^[2],[3]

Cost

40,662

^[2],[3]

Fair Value

$ 40,659

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Neptune Flood Incorporated - Revolver Unfunded Maturity 05/09/2029 Industry Insurance

Schedule Of Investments [Line Items]

Maturity

May 09, 2029

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 541

^[2],[3]

Cost

^[2],[3]

Fair Value

$ 0

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% ORL Acquisition, Inc. (Revolver) Maturity 09/03/2027 Industry Consumer Finance

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^{[1],[2],[3],[9]}

Industry

Consumer Finance

^{[1],[2],[3],[9]}

Par / Shares

$ 861

^[1],[9]

Fair Value

$ (77)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% ORL Acquisition, Inc. Maturity 09/03/2027 Industry Consumer Finance Current Coupon 12.84% Basis Point Spread Above Index 6M SOFR+725

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^[2],[3],[9]

Industry

Consumer Finance

^[2],[3],[9]

Current Coupon

12.84%

^[2],[3],[9]

Basis point spread above index, Percentage

6M SOFR+725

^{[3],[9],[11],[18]}

Basis point spread above index, Amount

725.00%

^{[3],[9],[11],[18]}

Par / Shares

$ 4,900

^[9]

Cost

4,828

^[2],[3],[9]

Fair Value

$ 4,459

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% One Stop Mailing, LLC Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 11.68% Basis Point Spread Above Index 1M SOFR+636

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

^[2],[3]

Industry

Air Freight and Logistics

^[2],[3]

Current Coupon

11.68%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+636

^{[3],[11],[18]}

Basis point spread above index, Amount

636.00%

^{[3],[11],[18]}

Par / Shares

$ 8,516

Cost

8,397

^[2],[3]

Fair Value

$ 8,516

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Output Services Group, Inc. Maturity 06/27/2026 Industry Business Services Current Coupon 0.00%

Schedule Of Investments [Line Items]

Maturity

Jun. 27, 2026

^[2],[3],[19]

Industry

Business Services

^[2],[3],[19]

Current Coupon

0.00%

^[2],[3],[19]

Par / Shares

$ 4,923

^[19]

Cost

4,469

^[2],[3],[19]

Fair Value

$ 960

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Owl Acquisition, LLC Maturity 02/04/2028 Industry Professional Services Current Coupon 10.80% Basis Point Spread Above Index 6M SOFR+550

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

10.80%

^[2],[3]

Basis point spread above index, Percentage

6M SOFR+550

^{[3],[11],[18]}

Basis point spread above index, Amount

550.00%

^{[3],[11],[18]}

Par / Shares

$ 3,893

^[2],[3]

Cost

3,797

^[2],[3]

Fair Value

$ 3,834

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Ox Two, LLC (Revolver) Maturity 05/18/2026 Industry Construction and Building

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[1],[2],[3]

Industry

Construction and Building

^[1],[2],[3]

Par / Shares

$ 3,387

^[1]

Fair Value

$ (59)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Ox Two, LLC Maturity 05/18/2026 Industry Construction and Building Current Coupon 12.90% Basis Point Spread Above Index 3M SOFR+751

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[2],[3]

Industry

Construction and Building

^[2],[3]

Current Coupon

12.90%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+751

^{[3],[11],[18]}

Basis point spread above index, Amount

751.00%

^{[3],[11],[18]}

Par / Shares

$ 22,736

^[2],[3]

Cost

22,513

^[2],[3]

Fair Value

$ 22,338

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% PL Acquisitionco, LLC Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 12.42% Basis Point Spread Above Index 1M SOFR+710

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[2],[3]

Industry

Textiles, Apparel and Luxury Goods

^[2],[3]

Current Coupon

12.42%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+710

^{[3],[11],[18]}

Basis point spread above index, Amount

710.00%

^{[3],[11],[18]}

Par / Shares

$ 5,612

^[2],[3]

Cost

5,538

^[2],[3]

Fair Value

$ 5,050

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Pequod Merger Sub, Inc (Revolver) Maturity 12/02/2026 Industry Diversified Financial Services

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2026

^[1],[2],[3]

Industry

Diversified Financial Services

^[1],[2],[3]

Par / Shares

$ 757

^[1]

Fair Value

$ (15)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Pequod Merger Sub, Inc. - Unfunded Term Loan Maturity 12/02/2026 Industry Diversified Financial Services

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2026

^[2],[3]

Industry

Diversified Financial Services

^[2],[3]

Par / Shares

$ 2,847

^[2],[3]

Fair Value

$ (57)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% PlayPower, Inc. Maturity 05/08/2026 Industry Leisure Products Current Coupon 10.92% Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

^[2],[3]

Industry

Leisure Products

^[2],[3]

Current Coupon

10.92%

^[2],[3]

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+565

^{[3],[11],[18]}

Par / Shares

$ 3,401

^[2],[3]

Cost

3,386

^[2],[3]

Fair Value

$ 3,248

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Pragmatic Institute, LLC (Revolver) Maturity 07/06/2028 Industry Professional Services Current Coupon 11.17% Basis Point Spread Above Index 3M SOFR+575

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.17%

^[2],[3]

Basis point spread above index, Percentage

575

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+575

^{[3],[11],[18]}

Par / Shares

$ 1,526

^[2],[3]

Cost

1,526

^[2],[3]

Fair Value

$ 1,458

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Pragmatic Institute, LLC - Unfunded Term Loan. Maturity 07/06/2028 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[2],[3]

Industry

Professional Services

^[2],[3]

Par / Shares

$ 2,290

^[2],[3]

Fair Value

$ (80)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Quantic Electronics, LLC (Revolver) Maturity 11/19/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.74% Basis Point Spread Above Index 3M SOFR+635

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[2],[3],[9]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3],[9]

Current Coupon

11.74%

^[2],[3],[9]

Basis point spread above index, Percentage

635

^{[3],[9],[11],[18]}

Basis Point Spread Above Index

3M SOFR+635

^{[3],[9],[11],[18]}

Par / Shares

$ 670

^[9]

Cost

670

^[2],[3],[9]

Fair Value

$ 660

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Quantic Electronics, LLC Maturity 11/19/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.74% Basis Point Spread Above Index 3M SOFR+635

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

11.74%

^[2],[3]

Basis point spread above index, Percentage

635

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+635

^{[3],[11],[18]}

Par / Shares

$ 6,647

^[2],[3]

Cost

6,578

^[2],[3]

Fair Value

$ 6,547

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Questex, LLC (Revolver) Maturity 09/09/2024 Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

^{[1],[2],[3],[9]}

Industry

Media: Diversified and Production

^{[1],[2],[3],[9]}

Par / Shares

$ 1,197

^[1],[9]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Questex, LLC Maturity 09/09/2024 Industry Media: Diversified and Production Current Coupon 9.81% Basis Point Spread Above Index 3M SOFR+425

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

^[2],[3]

Industry

Media: Diversified and Production

^[2],[3]

Current Coupon

9.81%

^[2],[3]

Basis point spread above index, Percentage

425

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+425

^{[3],[11],[18]}

Par / Shares

$ 6,731

^[2],[3]

Cost

6,706

^[2],[3]

Fair Value

$ 6,731

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Rancho Health MSO, Inc. (Revolver) Maturity 12/18/2025 Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 315

^[1],[9]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Current Coupon

11.24%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

585

^{[1],[3],[9],[11],[18]}

Basis Point Spread Above Index

3M SOFR+585

^{[1],[3],[9],[11],[18]}

Par / Shares

$ 210

^[1],[9]

Cost

210

^{[1],[2],[3],[9]}

Fair Value

$ 210

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Recteq, LLC (Revolver) Maturity 01/29/2026 Industry Leisure Products

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^{[1],[2],[3],[9]}

Industry

Leisure Products

^{[1],[2],[3],[9]}

Par / Shares

$ 1,296

^[1],[9]

Fair Value

$ (39)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Recteq, LLC Maturity 01/29/2026 Industry Leisure Products Current Coupon 12.54% Basis Point Spread Above Index 3M SOFR+715

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^[2],[3]

Industry

Leisure Products

^[2],[3]

Current Coupon

12.54%

^[2],[3]

Basis point spread above index, Percentage

715

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+715

^{[3],[11],[18]}

Par / Shares

$ 1,463

^[2],[3]

Cost

1,448

^[2],[3]

Fair Value

$ 1,419

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Research Now Group, Inc. and Dynata, LLC Maturity 12/20/2024 Industry Business Services Current Coupon 11.13% Basis Point Spread Above Index 3M SOFR+576

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Research Now Group, Inc. and Dynata, LLC, Maturity 12/20/2024 Industry Business Services Current Coupon 11.13% Basis Point Spread Above Index 3M SOFR+576

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[2],[3]

Industry

Business Services

^[2],[3]

Current Coupon

11.13%

^[2],[3]

Basis point spread above index, Percentage

576

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+576

^{[3],[11],[18]}

Par / Shares

$ 16,962

^[2],[3]

Cost

16,875

^[2],[3]

Fair Value

$ 14,842

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Riverpoint Medical, LLC (Revolver) Maturity 06/20/2025 Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 795

^[1],[9]

Fair Value

$ (11)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^[2],[3],[9]

Industry

Healthcare Equipment and Supplies

^[2],[3],[9]

Current Coupon

10.42%

^[2],[3],[9]

Basis point spread above index, Percentage

510

^{[3],[9],[11],[18]}

Basis Point Spread Above Index

1M SOFR+510

^{[3],[9],[11],[18]}

Par / Shares

$ 114

^[9]

Cost

114

^[2],[3],[9]

Fair Value

$ 112

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Riverpoint Medical, LLC Maturity 06/20/2025 Industry Healthcare Equipment and Supplies Current Coupon 10.54% Basis Point Spread Above Index 3M SOFR+515

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^[2],[3]

Current Coupon

10.54%

^[2],[3]

Basis point spread above index, Percentage

515

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+515

^{[3],[11],[18]}

Par / Shares

$ 7,939

^[2],[3]

Cost

7,903

^[2],[3]

Fair Value

$ 7,828

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Riverside Assessments, LLC Maturity 03/10/2025 Industry Professional Services Current Coupon 11.29% Basis Point Spread Above Index 3M SOFR+590

Schedule Of Investments [Line Items]

Maturity

Mar. 10, 2025

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.29%

^[2],[3]

Basis point spread above index, Percentage

590

^{[3],[11],[18]}

Basis Point Spread Above Index

3M SOFR+590

^{[3],[11],[18]}

Par / Shares

$ 15,199

^[2],[3]

Cost

15,075

^[2],[3]

Fair Value

$ 15,047

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Rural Sourcing Holdings, Inc. (HPA SPQ Merger Sub, Inc.) (Revolver) Maturity 06/15/2029 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2029

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 860

^[1],[9]

Fair Value

$ (13)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Rural Sourcing Holdings, Inc. (HPA SPQ Merger Sub, Inc.) - Unfunded Term Loan Maturity 06/15/2029 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2029

^[2],[3]

Industry

Professional Services

^[2],[3]

Par / Shares

$ 1,146

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, A1 Garage Merger Sub, LLC - Unfunded Term Loan, Maturity 12/22/2028, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Par / Shares

$ 528

^[2],[3]

Fair Value

$ 5

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, A1 Garage Merger Sub, LLC LLC (Revolver), Maturity 12/22/2028, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

^{[1],[2],[3],[9]}

Industry

Commercial Services & Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 748

^{[1],[2],[3],[9]}

Fair Value

$ (4)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, A1 Garage Merger Sub, LLC, Maturity 12/22/2028, Industry Commercial Services & Supplies, Current Coupon 11.99%, Basis Point Spread Above Index 3M SOFR+660

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

11.99%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+660

^[2],[3],[11]

Basis point spread above index, Amount

660.00%

^[2],[3],[11]

Par / Shares

$ 1,520

^[2],[3]

Cost

1,499

^[2],[3]

Fair Value

$ 1,512

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Ad.net Acquisition, LLC (Revolver), Maturity 05/07/2026, Industry Media

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 622

^{[1],[2],[3],[9]}

Fair Value

$ (3)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

^[2],[3],[9]

Industry

Media

^[2],[3],[9]

Current Coupon

11.65%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+626

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

626.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 622

^[2],[3],[9]

Cost

622

^[2],[3],[9]

Fair Value

$ 619

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Ad.net Acquisition, LLC, Maturity 05/07/2026, Industry Media, Current Coupon 11.65%, Basis Point Spread Above Index 3M SOFR+626

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.65%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+626

^[2],[3],[11]

Basis point spread above index, Amount

626.00%

^[2],[3],[11]

Par / Shares

$ 4,888

^[2],[3]

Cost

4,846

^[2],[3]

Fair Value

$ 4,863

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Amsive Holding Corporation (f/k/a Vision Purchaser Corporation), Maturity 06/10/2025, Industry Media, Current Coupon 11.79%, Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Jun. 10, 2025

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 13,958

^[2],[3]

Cost

13,859

^[2],[3]

Fair Value

$ 13,749

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Anteriad, LLC (f/k/a MeritDirect, LLC) (Revolver), Maturity 05/23/2024, Industry Media

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 2,869

^{[1],[2],[3],[9]}

Fair Value

$ (50)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

12.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+665

^[2],[3],[11]

Basis point spread above index, Amount

665.00%

^[2],[3],[11]

Par / Shares

$ 2,212

^[2],[3]

Cost

2,186

^[2],[3]

Fair Value

$ 2,184

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 13,786

^[2],[3]

Cost

13,755

^[2],[3]

Fair Value

$ 13,545

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Any Hour Services (Revolver), Maturity 07/21/2027, Industry Energy Equipment and Services

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^{[1],[2],[3],[9]}

Industry

Energy Equipment and Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,147

^{[1],[2],[3],[9]}

Fair Value

$ (23)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Any Hour Services, Maturity 07/21/2027, Industry Energy Equipment and Services, Current Coupon 11.22%, Basis Point Spread Above Index 3M SOFR+585

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^[2],[3]

Industry

Energy Equipment and Services

^[2],[3]

Current Coupon

11.22%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 6,395

^[2],[3]

Cost

6,326

^[2],[3]

Fair Value

$ 6,267

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Apex Service Partners, LLC (Revolver), Maturity 07/31/2025, Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^{[1],[2],[3],[9]}

Industry

Diversified Consumer Services

^{[1],[2],[3],[9]}

Par / Shares

$ 692

^{[1],[2],[3],[9]}

Fair Value

$ (2)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3],[9]

Industry

Diversified Consumer Services

^[2],[3],[9]

Current Coupon

10.86%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+525

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

525.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 1,153

^[2],[3],[9]

Cost

1,153

^[2],[3],[9]

Fair Value

$ 1,150

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Apex Service Partners, LLC Term Loan B, Maturity 07/31/2025, Industry Diversified Consumer Services, Current Coupon 11.04%, Basis Point Spread Above Index 3M SOFR+550

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 294

^[2],[3]

Cost

294

^[2],[3]

Fair Value

$ 294

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Apex Service Partners, LLC Term Loan C, Maturity 07/31/2025, Industry Diversified Consumer Services, Current Coupon 10.68%, Basis Point Spread Above Index 3M SOFR+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

10.68%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+525

^[2],[3],[11]

Basis point spread above index, Amount

525.00%

^[2],[3],[11]

Par / Shares

$ 12,826

^[2],[3]

Cost

12,732

^[2],[3]

Fair Value

$ 12,793

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Apex Service Partners, LLC, Maturity 07/31/2025, Industry Diversified Consumer Services, Current Coupon 10.52%, Basis Point Spread Above Index 3M SOFR+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

10.52%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+525

^[2],[3],[11]

Basis point spread above index, Amount

525.00%

^[2],[3],[11]

Par / Shares

$ 6,160

^[2],[3]

Cost

6,132

^[2],[3]

Fair Value

$ 6,145

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Applied Technical Services, LLC (Revolver), Maturity 12/29/2026, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^{[1],[2],[3],[9]}

Industry

Commercial Services & Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 764

^{[1],[2],[3],[9]}

Fair Value

$ (15)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[2],[3],[9]

Industry

Commercial Services & Supplies

^[2],[3],[9]

Current Coupon

13.25%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+475

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

475.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 509

^[2],[3],[9]

Cost

509

^[2],[3],[9]

Fair Value

$ 499

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Applied Technical Services, LLC (Unfunded Term Loan), Maturity 12/29/2026, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Par / Shares

$ 582

^[2],[3]

Fair Value

$ (6)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Applied Technical Services, LLC, Maturity 12/29/2026, Industry Commercial Services & Supplies, Current Coupon 11.54%, Basis Point Spread Above Index 3M SOFR+615

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

11.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+615

^[2],[3],[11]

Basis point spread above index, Amount

615.00%

^[2],[3],[11]

Par / Shares

$ 8,891

^[2],[3]

Cost

8,784

^[2],[3]

Fair Value

$ 8,714

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Arcfield Acquisition Corp, Maturity 08/03/2029, Industry Aerospace and Defense, Current Coupon 11.62%, Basis Point Spread Above Index 1M SOFR+625

Schedule Of Investments [Line Items]

Maturity

Aug. 03, 2029

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

11.62%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+625

^[2],[3],[11]

Basis point spread above index, Amount

625.00%

^[2],[3],[11]

Par / Shares

$ 6,526

^[2],[3]

Cost

6,429

^[2],[3]

Fair Value

$ 6,461

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Arcfield Acquisition Corp. (Revolver), Maturity 08/04/2028, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Maturity

Aug. 04, 2028

^[1],[2],[3]

Industry

Aerospace and Defense

^[1],[2],[3]

Par / Shares

$ 1,379

^[1],[2],[3]

Fair Value

$ (14)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Beta Plus Technologies, Inc, Maturity 07/01/2029, Industry Internet Software and Services, Current Coupon 11.14%, Basis Point Spread Above Index 3M SOFR+575

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

^[2],[3]

Industry

Internet Software and Services

^[2],[3]

Current Coupon

11.14%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+575

^[2],[3],[11]

Basis point spread above index, Amount

575.00%

^[2],[3],[11]

Par / Shares

$ 4,950

^[2],[3]

Cost

4,862

^[2],[3]

Fair Value

$ 4,604

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, BioDerm, Inc. (Revolver), Maturity 01/31/2028, Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2028

^[1],[2],[3]

Industry

Healthcare Equipment and Supplies

^[1],[2],[3]

Par / Shares

$ 964

^[1],[2],[3]

Fair Value

$ (5)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2028

^[2],[3],[9]

Industry

Healthcare Equipment and Supplies

^[2],[3],[9]

Current Coupon

11.81%

^[2],[3],[9]

Basis point spread above index, Percentage

1M SOFR+650

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

650.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 107

^[2],[3],[9]

Cost

107

^[2],[3],[9]

Fair Value

$ 107

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Blackhawk Industrial Distribution, Inc, Maturity 09/17/2026, Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[1],[2],[3]

Industry

Distributors

^[1],[2],[3]

Par / Shares

$ 2,469

^[1],[2],[3]

Fair Value

$ (37)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 631

^[2],[3]

Cost

628

^[2],[3]

Fair Value

$ 622

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[2],[3],[9]

Industry

Distributors

^[2],[3],[9]

Current Coupon

13.75%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+525

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

525.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 274

^[2],[3],[9]

Cost

274

^[2],[3],[9]

Fair Value

$ 270

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[2],[3]

Industry

Distributors

^[2],[3]

Par / Shares

$ 2,624

^[2],[3]

Fair Value

$ (26)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Broder Bros., Co, Maturity 12/04/2025, Industry Textiles, Apparel and Luxury Goods, Current Coupon 11.50%, Basis Point Spread Above Index 3M SOFR+626

Schedule Of Investments [Line Items]

Maturity

Dec. 04, 2025

^[2],[3]

Industry

Textiles, Apparel and Luxury Goods

^[2],[3]

Current Coupon

11.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+626

^[2],[3],[11]

Basis point spread above index, Amount

626.00%

^[2],[3],[11]

Par / Shares

$ 3,324

^[2],[3]

Cost

3,324

^[2],[3]

Fair Value

$ 3,324

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, By Light Professional IT Services, LLC (Revolver), Maturity 05/16/2025, Industry High Tech Industries

Schedule Of Investments [Line Items]

Maturity

May 16, 2025

^{[1],[2],[3],[9]}

Industry

High Tech Industries

^{[1],[2],[3],[9]}

Par / Shares

$ 3,507

^{[1],[2],[3],[9]}

Fair Value

$ (61)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, By Light Professional IT Services, LLC, Maturity 05/16/2025, Industry High Tech Industries, Current Coupon 12.43%, Basis Point Spread Above Index 3M SOFR+688

Schedule Of Investments [Line Items]

Maturity

May 16, 2025

^[2],[3]

Industry

High Tech Industries

^[2],[3]

Current Coupon

12.43%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+688

^[2],[3],[11]

Basis point spread above index, Amount

688.00%

^[2],[3],[11]

Par / Shares

$ 25,674

^[2],[3]

Cost

25,499

^[2],[3]

Fair Value

$ 25,224

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, CF512, Inc, Maturity 08/20/2026, Industry Media, Current Coupon 11.59%, Basis Point Spread Above Index 3M SOFR+619

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.59%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+619

^[2],[3],[11]

Basis point spread above index, Amount

619.00%

^[2],[3],[11]

Par / Shares

$ 5,980

^[2],[3]

Cost

5,930

^[2],[3]

Fair Value

$ 5,860

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, CF512, Inc. (Revolver), Maturity 08/20/2026, Industry Media

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 955

^{[1],[2],[3],[9]}

Fair Value

$ (19)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, CHA Holdings, Inc, Maturity 04/10/2025, Industry Environmental Industries, Current Coupon 10.15%, Basis Point Spread Above Index 3M SOFR+476

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

^[2],[3]

Industry

Environmental Industries

^[2],[3]

Current Coupon

10.15%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+476

^[2],[3],[11]

Basis point spread above index, Amount

476.00%

^[2],[3],[11]

Par / Shares

$ 1,564

^[2],[3]

Cost

1,562

^[2],[3]

Fair Value

$ 1,564

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Cadence Aerospace, LLC, Maturity 11/14/2023, Industry Aerospace and Defense, Current Coupon 12.07%(PIK 9.50%), Basis Point Spread Above Index 3M SOFR+665

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

^[2],[3],[9]

Industry

Aerospace and Defense

^[2],[3],[9]

Current Coupon

12.07%

^[2],[3],[9]

Current Coupons, PIK

9.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+665

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

665.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 980

^[2],[3],[9]

Cost

980

^[2],[3],[9]

Fair Value

$ 980

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Cartessa Aesthetics, LLC (Revolver), Maturity 06/14/2028, Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

^{[1],[2],[3],[9]}

Industry

Distributors

^{[1],[2],[3],[9]}

Par / Shares

$ 927

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

^[2],[3],[9]

Industry

Distributors

^[2],[3],[9]

Current Coupon

11.39%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+600

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

600.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 511

^[2],[3],[9]

Cost

511

^[2],[3],[9]

Fair Value

$ 511

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Cartessa Aesthetics, LLC, Maturity 06/14/2028, Industry Distributors, Current Coupon 11.39%, Basis Point Spread Above Index 3M SOFR+600

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

11.39%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+600

^[2],[3],[11]

Basis point spread above index, Amount

600.00%

^[2],[3],[11]

Par / Shares

$ 13,076

^[2],[3]

Cost

12,907

^[2],[3]

Fair Value

$ 13,076

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Challenger Performance Optimization, Inc, Maturity 08/31/2024, Industry Business Services, Current Coupon 12.18%, Basis Point Spread Above Index 3ML +675

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2024

^[2],[3]

Industry

Business Services

^[2],[3]

Current Coupon

12.18%

^[2],[3]

Basis point spread above index, Percentage

3M L+675

^[2],[3],[11]

Basis point spread above index, Amount

675.00%

^[2],[3],[11]

Par / Shares

$ 237

^[2],[3]

Cost

237

^[2],[3]

Fair Value

$ 230

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Compex Legal Services, Inc, Maturity 02/09/2026, Industry Professional Services, Current Coupon 10.99%, Basis Point Spread Above Index 3M SOFR +525

Schedule Of Investments [Line Items]

Maturity

Feb. 09, 2026

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

10.99%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+525

^[2],[3],[11]

Basis point spread above index, Amount

525.00%

^[2],[3],[11]

Par / Shares

$ 8,925

^[2],[3]

Cost

8,891

^[2],[3]

Fair Value

$ 8,925

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Compex Legal Services, Inc. (Revolver), Maturity 02/07/2025, Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,265

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^[2],[3],[9]

Industry

Professional Services

^[2],[3],[9]

Current Coupon

10.94%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+555

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

555.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 141

^[2],[3],[9]

Cost

141

^[2],[3],[9]

Fair Value

$ 141

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Connatix Buyer, Inc, Maturity 07/13/2027, Industry Media

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 1,234

^{[1],[2],[3],[9]}

Fair Value

$ (43)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Connatix Buyer, Inc, Maturity 07/13/2027, Industry Media, Current Coupon 11.16%, Basis Point Spread Above Index 1M SOFR+576

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.16%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+576

^[2],[3],[11]

Basis point spread above index, Amount

576.00%

^[2],[3],[11]

Par / Shares

$ 3,814

^[2],[3]

Cost

3,761

^[2],[3]

Fair Value

$ 3,681

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Crane 1 Services, Inc, Maturity 08/16/2027, Industry Commercial Services & Supplies, Current Coupon 10.90%, Basis Point Spread Above Index 3M SOFR+551

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

10.90%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+551

^[2],[3],[11]

Basis point spread above index, Amount

551.00%

^[2],[3],[11]

Par / Shares

$ 882

^[2],[3]

Cost

871

^[2],[3]

Fair Value

$ 878

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Crane 1 Services, Inc. (Revolver), Maturity 08/16/2027, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3],[9]

Industry

Commercial Services & Supplies

^[2],[3],[9]

Par / Shares

$ 202

^[2],[3],[9]

Fair Value

$ (1)

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3],[9]

Industry

Commercial Services & Supplies

^[2],[3],[9]

Current Coupon

10.90%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+551

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

551.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 135

^[2],[3],[9]

Cost

135

^[2],[3],[9]

Fair Value

$ 134

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, DRS Holdings III, Inc, Maturity 11/03/2025, Industry Chemicals, Plastics and Rubber, Current Coupon 11.79%, Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^[2],[3]

Industry

Chemicals, Plastics and Rubber

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 16,266

^[2],[3]

Cost

16,142

^[2],[3]

Fair Value

$ 16,070

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, DRS Holdings III, Inc. (Revolver), Maturity 11/03/2025, Industry Personal Products

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Par / Shares

$ 1,426

^{[1],[2],[3],[9]}

Fair Value

$ (17)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Dr. Squatch, LLC (Revolver), Maturity 08/31/2027, Industry Personal Products

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Par / Shares

$ 3,353

^{[1],[2],[3],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Dr. Squatch, LLC, Maturity 08/31/2027, Industry Personal Products, Current Coupon 11.24%, Basis Point Spread Above Index 3M SOFR+585

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

11.24%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 4,383

^[2],[3]

Cost

4,328

^[2],[3]

Fair Value

$ 4,383

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Duraco Specialty Tapes LLC, Maturity 06/30/2024, Industry Containers and Packaging, Current Coupon 11.93%, Basis Point Spread Above Index 1M SOFR+650

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

^[2],[3]

Industry

Containers and Packaging

^[2],[3]

Current Coupon

11.93%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+650

^[2],[3],[11]

Basis point spread above index, Amount

650.00%

^[2],[3],[11]

Par / Shares

$ 3,445

^[2],[3]

Cost

3,407

^[2],[3]

Fair Value

$ 3,393

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, ECL Entertainment, LLC, Maturity 08/31/2030, Industry Hotels, Restaurants and Leisure, Current Coupon 10.14%, Basis Point Spread Above Index 1M SOFR+475

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2030

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

10.14%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+475

^[2],[3],[11]

Basis point spread above index, Amount

475.00%

^[2],[3],[11]

Par / Shares

$ 5,000

^[2],[3]

Cost

4,900

^[2],[3]

Fair Value

$ 4,985

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, EDS Buyer, LLC - Unfunded Term Loan, Maturity 01/10/2029, Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Jan. 10, 2029

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Par / Shares

$ 6,750

^[2],[3]

Fair Value

$ (17)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, EDS Buyer, LLC. (Revolver), Maturity 01/10/2029, Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Jan. 10, 2029

^{[1],[2],[3],[9]}

Industry

Electronic Equipment, Instruments, and Components

^{[1],[2],[3],[9]}

Par / Shares

$ 2,025

^{[1],[2],[3],[9]}

Fair Value

$ (30)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, ETE Intermediate II, LLC (Revolver), Maturity 05/25/2029, Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

May 25, 2029

^[1],[2],[3]

Industry

Diversified Consumer Services

^[1],[2],[3]

Par / Shares

$ 1,656

^[1],[2],[3]

Fair Value

$ (28)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Efficient Collaborative Retail Marketing Company, LLC, Maturity 06/15/2024, Industry Media: Diversified and Production, Current Coupon 13.15%, Basis Point Spread Above Index 3M SOFR+776

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2024

^[2],[3]

Industry

Media: Diversified and Production

^[2],[3]

Current Coupon

13.15%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+776

^[2],[3],[11]

Basis point spread above index, Amount

776.00%

^[2],[3],[11]

Par / Shares

$ 7,645

^[2],[3]

Cost

7,651

^[2],[3]

Fair Value

$ 5,352

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Exigo Intermediate II, LLC (Revolver), Maturity 03/15/2027, Industry Software

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

^[1],[2],[3]

Industry

Software

^[1],[2],[3]

Par / Shares

$ 689

^[1],[2],[3]

Fair Value

$ (14)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, eCommission Financial Services, Inc, Maturity 10/05/2023, Industry Banking, Finance, Insurance & Real Estate, Current Coupon 10.43%, Basis Point Spread Above Index 1M SOFR+510

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^[2],[3],[10]

Industry

Banking, Finance, Insurance & Real Estate

^[2],[3],[10]

Current Coupon

10.43%

^[2],[3],[10]

Basis point spread above index, Percentage

1M SOFR+510

^{[2],[3],[10],[11]}

Basis point spread above index, Amount

510.00%

^{[2],[3],[10],[11]}

Par / Shares

$ 4,599

^[2],[3],[10]

Cost

4,599

^[2],[3],[10]

Fair Value

$ 4,599

^{[2],[3],[4],[10]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, eCommission Financial Services, Inc. (Revolver), Maturity 10/05/2023, Industry Banking, Finance, Insurance & Real Estate

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^{[1],[2],[3],[9],[10]}

Industry

Banking, Finance, Insurance & Real Estate

^{[1],[2],[3],[9],[10]}

Par / Shares

$ 5,000

^{[1],[2],[3],[9],[10]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—133.9% First Lien Senior Secured Debt - 116.7% Mission Critical Electronics, Inc. Maturity 03/28/2024 Industry Capital Equipment Current Coupon 10.29% Basis Point Spread Above Index SOFR +500

Schedule Of Investments [Line Items]

Current Coupon

11.02%

^[2],[3],[9]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—133.9% First Lien Senior Secured Debt – 116.7% PL Acquisitionco, LLC - (Revolver) Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^[1],[2],[3]

Par / Shares

$ 2,290

Fair Value

(229)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% American Teleconferencing Services, Ltd.(Revolver) Maturity Date 12/08/2022 Industry Telecommunications, Current Coupon 0.00

Schedule Of Investments [Line Items]

Maturity

Dec. 08, 2022

^[5],[6],[13]

Dec. 08, 2022

^[5],[6],[13]

Industry

Telecommunications

^[5],[6],[13]

Current Coupon

0.00%

^[5],[6],[13]

0.00%

^[5],[6],[13]

Par / Shares

$ 1,656

^[5],[6],[13]

Cost

1,642

^[5],[6],[13]

Fair Value

$ 17

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Amsive Holding Corporation, Ltd.(Revolver) Maturity Date 12/08/2022 Industry Telecommunications Current Coupon 0.00

Schedule Of Investments [Line Items]

Industry

Media

^[5],[6]

Current Coupon

9.85%

^[5],[6]

9.85%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6],[16]

Basis point spread above index, Amount

62.00%

^[5],[6],[16]

62.00%

^[5],[6],[16]

Par / Shares

$ 14,104

^[5],[6]

Cost

13,951

^[5],[6]

Fair Value

13,892

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1% Total

Schedule Of Investments [Line Items]

Cost

55,418

^[5],[6],[17]

Fair Value

94,050

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, AG Investco LP, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^{[5],[6],[12],[13],[17]}

Par / Shares

805,164

^{[5],[6],[12],[13],[17]}

Cost

805

^{[5],[6],[12],[13],[17]}

Fair Value

1,127

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, AG Investco LP, Industry Software One

Schedule Of Investments [Line Items]

Industry

Software

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

194,836

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Ad.net Holdings, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[13],[17]}

Par / Shares

7,467

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

$ 98

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Affinion Group Holdings, Inc. (Warrants), Maturity 04/10/2024, Industry Consumer Goods: Durable

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2024

^{[5],[6],[13],[17]}

Apr. 10, 2024

^{[5],[6],[13],[17]}

Industry

Consumer Goods: Durable

^{[5],[6],[13],[17]}

Par / Shares

$ 8,893

^{[5],[6],[13],[17]}

Cost

245

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Altamira Intermediate Company II, Inc, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[13],[17]}

Par / Shares

1,437,500

^{[5],[6],[13],[17]}

Cost

1,438

^{[5],[6],[13],[17]}

Fair Value

906

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[13],[17]}

Par / Shares

2,018

^{[5],[6],[12],[13],[17]}

Fair Value

480

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Athletico Holdings, LLC, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[5],[6],[17]

Par / Shares

4,678

^[5],[6],[17]

Cost

5,000

^[5],[6],[17]

Fair Value

4,758

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Burgess Point Holdings, LP, Industry Auto Components

Schedule Of Investments [Line Items]

Industry

Auto Components

^[5],[6],[17]

Par / Shares

100

^[5],[6],[17]

Cost

100

^[5],[6],[17]

Fair Value

101

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, By Light Investco LP, Industry High Tech Industries

Schedule Of Investments [Line Items]

Industry

High Tech Industries

^{[5],[6],[12],[13],[17]}

Par / Shares

22,090

^{[5],[6],[12],[13],[17]}

Cost

193

^{[5],[6],[12],[13],[17]}

Fair Value

18,085

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, By Light Investco LP, Industry High Tech Industries One

Schedule Of Investments [Line Items]

Industry

High Tech Industries

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

3,223

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, CI (Allied) Investment Holdings, LLC (PRA Events, Inc.), Industry Business Services

Schedule Of Investments [Line Items]

Industry

Business Services

^{[5],[6],[12],[13],[17]}

Par / Shares

120,962

^{[5],[6],[12],[13],[17]}

Cost

1,243

^{[5],[6],[12],[13],[17]}

Fair Value

1,651

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Connatix Parent, LLC, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

38,278

^{[5],[6],[13],[17]}

Cost

421

^{[5],[6],[13],[17]}

Fair Value

459

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Crane 1 Acquisition Parent Holdings, L.P, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[13],[17]}

Par / Shares

130

^{[5],[6],[13],[17]}

Cost

120

^{[5],[6],[13],[17]}

Fair Value

140

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Delta InvestCo LP (Sigma Defense Systems, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[12],[13],[17]}

Par / Shares

615,484

^{[5],[6],[12],[13],[17]}

Cost

602

^{[5],[6],[12],[13],[17]}

Fair Value

1,255

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

389,386

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, ECM Investors, LLC, Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^{[5],[6],[12],[13],[17]}

Par / Shares

295,982

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

633

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Exigo, LLC, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^[5],[6],[17]

Par / Shares

541,667

^[5],[6],[17]

Cost

542

^[5],[6],[17]

Fair Value

478

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Express Wash Topco, LLC, Industry Automobiles

Schedule Of Investments [Line Items]

Industry

Automobiles

^[5],[6],[17]

Par / Shares

20,000

^[5],[6],[17]

Cost

100

^[5],[6],[17]

Fair Value

102

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, FedHC InvestCo LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

21,083

^{[5],[6],[12],[13],[17]}

Cost

711

^{[5],[6],[12],[13],[17]}

Fair Value

2,142

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, FedHC InvestCo LP, Industry Aerospace and Defense One

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

9,488

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, GCOM InvestCo LP, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[12],[13],[17]}

Par / Shares

19,184

^{[5],[6],[12],[13],[17]}

Cost

3,342

^{[5],[6],[12],[13],[17]}

Fair Value

4,626

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Gauge InfosoftCoInvest, LLC (The Infosoft Group, LLC), Industry Media: Broadcasting and Subscription

Schedule Of Investments [Line Items]

Industry

Media: Broadcasting and Subscription

^{[5],[6],[13],[17]}

Par / Shares

500

^{[5],[6],[13],[17]}

Cost

144

^{[5],[6],[13],[17]}

Fair Value

2,471

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Gauge Lash Coinvest LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^{[5],[6],[13],[17]}

Par / Shares

1,485,953

^{[5],[6],[13],[17]}

Cost

227

^{[5],[6],[13],[17]}

Fair Value

7,030

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Gauge Schlesinger Coinvest LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[5],[6],[13],[17]}

Par / Shares

465

^{[5],[6],[13],[17]}

Cost

476

^{[5],[6],[13],[17]}

Fair Value

496

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Gauge TVC Coinvest, LLC (TVC Enterprises, LLC), Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

391,144

^[5],[6],[17]

Fair Value

1,558

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Go Dawgs Capital III, LP (American Insulated Glass, LLC), Industry Building Products

Schedule Of Investments [Line Items]

Industry

Building Products

^{[5],[6],[12],[13],[17]}

Par / Shares

324,675

^{[5],[6],[12],[13],[17]}

Cost

325

^{[5],[6],[12],[13],[17]}

Fair Value

377

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, HV Watterson Holdings, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

100,000

^[5],[6],[17]

Cost

100

^[5],[6],[17]

Fair Value

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Hancock Claims Consultants Investors, LLC, Industry Insurance

Schedule Of Investments [Line Items]

Industry

Insurance

^{[5],[6],[12],[13],[17]}

Par / Shares

450,000

^{[5],[6],[12],[13],[17]}

Cost

450

^{[5],[6],[12],[13],[17]}

Fair Value

477

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, IIN Group Holdings, LLC (Integrative Nutrition, LLC), Industry Consumer Services

Schedule Of Investments [Line Items]

Industry

Consumer Services

^{[5],[6],[12],[13],[17]}

Par / Shares

1,000

^{[5],[6],[12],[13],[17]}

Cost

1,000

^{[5],[6],[12],[13],[17]}

Fair Value

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, ITC Infusion Co-invest, LP, Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^[5],[6],[17]

Par / Shares

81,313

^[5],[6],[17]

Cost

813

^[5],[6],[17]

Fair Value

857

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, ITC Rumba, LLC (Cano Health, LLC), Industry Healthcare and Pharmaceuticals

Schedule Of Investments [Line Items]

Industry

Healthcare and Pharmaceuticals

^{[5],[6],[12],[13],[17]}

Par / Shares

46,763

^{[5],[6],[12],[13],[17]}

Cost

117

^{[5],[6],[12],[13],[17]}

Fair Value

5,232

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Icon Partners V C, L.P, Industry Internet Software and Services

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^[5],[6],[17]

Par / Shares

1,851,852

^[5],[6],[17]

Cost

1,852

^[5],[6],[17]

Fair Value

1,989

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^{[5],[6],[13],[14],[17]}

Par / Shares

648,148

^{[5],[6],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Imagine Topco, LP (Common), Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^[5],[6],[17]

Par / Shares

1,236,027

^[5],[6],[17]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Ironclad Holdco, LLC (Applied Technical Services, LLC), Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[12],[13],[17]}

Par / Shares

5,811

^{[5],[6],[12],[13],[17]}

Cost

573

^{[5],[6],[12],[13],[17]}

Fair Value

754

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, JWC-WE Holdings, L.P (Walker Edison Furniture Company LLC), Industry Wholesale

Schedule Of Investments [Line Items]

Industry

Wholesale

^{[5],[6],[12],[13],[17]}

Par / Shares

1,948

^{[5],[6],[12],[13],[17]}

Cost

568

^{[5],[6],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, KL Stockton Co-Invest LP (Any Hour Services), Industry Energy Equipment and Services

Schedule Of Investments [Line Items]

Industry

Energy Equipment and Services

^{[5],[6],[12],[13],[17]}

Par / Shares

382,353

^{[5],[6],[12],[13],[17]}

Cost

382

^{[5],[6],[12],[13],[17]}

Fair Value

643

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Kentucky Racing Holdco, LLC (Warrants), Industry Hotels, Restaurants and Leisure

Schedule Of Investments [Line Items]

Industry

Hotels, Restaurants and Leisure

^{[5],[6],[12],[13],[17]}

Par / Shares

87,345

^{[5],[6],[12],[13],[17]}

Fair Value

961

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Kinetic Purchaser, LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[5],[6],[17]

Par / Shares

1,734,775

^[5],[6],[17]

Cost

1,735

^[5],[6],[17]

Fair Value

2,458

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Lightspeed Investment Holdco LLC, Industry Healthcare Technology

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^{[5],[6],[13],[17]}

Par / Shares

585,587

^{[5],[6],[13],[17]}

Cost

586

^{[5],[6],[13],[17]}

Fair Value

800

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, MDI Aggregator, LP, Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Industry

Commodity Chemicals

^[5],[6],[17]

Par / Shares

668,747

^[5],[6],[17]

Cost

670

^[5],[6],[17]

Fair Value

669

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, MSpark, LLC, Industry Media: Advertising, Printing and Publishing

Schedule Of Investments [Line Items]

Industry

Media: Advertising, Printing and Publishing

^[5],[6],[17]

Par / Shares

3,988

^[5],[6],[17]

Cost

1,288

^[5],[6],[17]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

835

^{[5],[6],[13],[17]}

Fair Value

255

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Meadowlark Title, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

819,231

^[5],[6],[17]

Cost

819

^[5],[6],[17]

Fair Value

901

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Municipal Emergency Services, Inc, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[5],[6],[13],[17]}

Par / Shares

1,973,370

^{[5],[6],[13],[17]}

Cost

2,005

^{[5],[6],[13],[17]}

Fair Value

1,505

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, NEPRT Parent Holdings, LLC (Recteq, LLC), Industry Leisure Products

Schedule Of Investments [Line Items]

Industry

Leisure Products

^{[5],[6],[12],[13],[17]}

Par / Shares

1,494

^{[5],[6],[12],[13],[17]}

Cost

1,450

^{[5],[6],[12],[13],[17]}

Fair Value

279

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[13],[17]}

Par / Shares

14,960

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Fair Value

310

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, North Haven Saints Equity Holdings, LP, Industry Healthcare Technology

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^[5],[6],[17]

Par / Shares

223,602

^[5],[6],[17]

Cost

224

^[5],[6],[17]

Fair Value

237

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, OHCP V BC COI, L.P, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^[5],[6],[17]

Par / Shares

743,750

^[5],[6],[17]

Cost

744

^[5],[6],[17]

Fair Value

636

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, OHCP V BC COI, L.P, Industry Distributors One

Schedule Of Investments [Line Items]

Industry

Distributors

^{[5],[6],[12],[14],[17]}

Par / Shares

506,250

^{[5],[6],[12],[14],[17]}

Fair Value

(73)

^{[5],[6],[7],[12],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[5],[6],[13],[17]}

Par / Shares

1,474

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Fair Value

261

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, OceanSound Discovery Equity, LP (Holdco Sands Intermediate, LLC), Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

173,638

^{[5],[6],[12],[13],[17]}

Cost

1,729

^{[5],[6],[12],[13],[17]}

Fair Value

2,917

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Oral Surgery (ITC) Holdings, LLC, Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[5],[6],[12],[13],[17]}

Par / Shares

3,872

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

231

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, PennantPark-TSO Senior Loan Fund, LP, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[5],[6],[13],[17]}

Par / Shares

11,167,847

^{[5],[6],[13],[17]}

Cost

11,168

^{[5],[6],[13],[17]}

Fair Value

9,892

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Pink Lily Holdco, LLC (PL Acquisitions, LLC), Industry Textiles, Apparel and Luxury Goods

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6],[17]

Par / Shares

1,735

^[5],[6],[17]

Cost

1,735

^[5],[6],[17]

Fair Value

914

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Pragmatic Institute, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

610,583

^[5],[6],[17]

Cost

611

^[5],[6],[17]

Fair Value

611

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, QuantiTech InvestCo 1 LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

955

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, QuantiTech InvestCo II LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, QuantiTech InvestCo LP, Industry Aerospace and Defens

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

712

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

352

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, RFMG Parent, LP (Rancho Health MSO, Inc.), Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[5],[6],[13],[17]}

Par / Shares

1,050,000

^{[5],[6],[13],[17]}

Cost

1,050

^{[5],[6],[13],[17]}

Fair Value

1,091

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, SBI Holdings Investments LLC (Sales Benchmark Index LLC), Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[5],[6],[12],[13],[17]}

Par / Shares

64,634

^{[5],[6],[12],[13],[17]}

Cost

646

^{[5],[6],[12],[13],[17]}

Fair Value

634

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, SP L2 Holdings, LLC (Ledge Lounger, Inc.), Industry Leisure Products

Schedule Of Investments [Line Items]

Industry

Leisure Products

^[5],[6],[17]

Par / Shares

360,103

^[5],[6],[17]

Cost

360

^[5],[6],[17]

Fair Value

373

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, SSC Dominion Holdings, LLC Class A (US Dominion, Inc.), Industry Capital Equipment

Schedule Of Investments [Line Items]

Industry

Capital Equipment

^{[5],[6],[13],[17]}

Par / Shares

500

^{[5],[6],[13],[17]}

Cost

500

^{[5],[6],[13],[17]}

Fair Value

680

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Capital Equipment

^{[5],[6],[13],[17]}

Par / Shares

500

^{[5],[6],[13],[17]}

Fair Value

1,463

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Seaway Topco, LP, Industry Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Industry

Chemicals, Plastics and Rubber

^[5],[6],[17]

Par / Shares

296

^[5],[6],[17]

Cost

296

^[5],[6],[17]

Fair Value

296

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Signature CR Intermediate Holdco, Inc, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[13],[17]}

Par / Shares

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, StellPen Holdings, LLC (CF512, Inc.), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

161,538

^{[5],[6],[13],[17]}

Cost

162

^{[5],[6],[13],[17]}

Fair Value

160

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, TAC LifePort Holdings, LLC, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

488,372

^{[5],[6],[12],[13],[17]}

Cost

488

^{[5],[6],[12],[13],[17]}

Fair Value

621

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[5],[6],[13],[15],[17],[20]}

Par / Shares

21,527

^{[5],[6],[13],[15],[17],[20]}

Cost

^{[5],[6],[13],[15],[17],[20]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, TWD Parent Holdings, LLC (The Vertex Companies, LLC), Industry Construction & Engineering

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[5],[6],[13],[17]}

Par / Shares

749

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Tower Arch Infolinks Media, LP (Infolinks Media Buyco, LLC), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^[5],[6],[17]

Par / Shares

216,925

^[5],[6],[17]

Cost

209

^[5],[6],[17]

Fair Value

366

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Tower Arch Infolinks Media, LP 1 (Infolinks Media Buyco, LLC), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[14],[17]}

Par / Shares

148,681

^{[5],[6],[12],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, UniTek Global Services, Inc, Industry Telecommunications

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Par / Shares

213,739

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, UniTek Global Services, Inc. (Warrants), Industry Telecommunications

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Par / Shares

23,889

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, UniVista Insurance, Industry Insurance

Schedule Of Investments [Line Items]

Industry

Insurance

^{[5],[6],[12],[13],[17]}

Par / Shares

400

^{[5],[6],[12],[13],[17]}

Cost

378

^{[5],[6],[12],[13],[17]}

Fair Value

454

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, WCP IvyRehab QP CF Feeder, LP 1, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[5],[6],[14],[17]}

Par / Shares

237,743

^{[5],[6],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, WCP IvyRehab QP CF Feeder, LP, Industry Healthcare Providers and Services

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[5],[6],[17]

Par / Shares

3,762,257

^[5],[6],[17]

Cost

3,762

^[5],[6],[17]

Fair Value

3,762

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Wildcat Parent, LP (Wildcat Buyerco, Inc.), Industry Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^{[5],[6],[12],[13],[17]}

Par / Shares

2,240

^{[5],[6],[12],[13],[17]}

Cost

224

^{[5],[6],[12],[13],[17]}

Fair Value

596

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, eCommission Holding Corporation, Industry Banking, Finance, Insurance & Real Estate

Schedule Of Investments [Line Items]

Industry

Banking, Finance, Insurance & Real Estate

^{[5],[6],[13],[15],[17]}

Par / Shares

^{[5],[6],[13],[15],[17]}

Cost

251

^{[5],[6],[13],[15],[17]}

Fair Value

$ 348

^{[5],[6],[7],[13],[15],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% API Technologies Corp, Maturity Date 05/11/2026 Industry Electronic Equipment, Instruments, and Components, Current Coupon 7.92%, Basis Point Spread Above Index 1M L+425

Schedule Of Investments [Line Items]

Maturity

May 11, 2026

^[5],[6]

May 11, 2026

^[5],[6]

Industry

Electronic Equipment, Instruments, and Components

^[5],[6]

Current Coupon

7.92%

^[5],[6]

7.92%

^[5],[6]

Basis point spread above index, Percentage

1M L+425

^[5],[6],[16]

Basis point spread above index, Amount

425.00%

^[5],[6],[16]

425.00%

^[5],[6],[16]

Par / Shares

$ 5,805

^[5],[6]

Cost

5,785

^[5],[6]

Fair Value

$ 5,050

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Ad.net Acquisition, LLC Maturity Date 05/06/2026 Industry Media Current Coupon 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

May 06, 2026

^[5],[6]

May 06, 2026

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

9.67%

^[5],[6]

9.67%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 4,938

^[5],[6]

Cost

4,882

^[5],[6]

Fair Value

$ 4,900

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Ad.net Acquisition, LLC(Revolver) Maturity Date 05/06/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

May 06, 2026

^{[5],[6],[13],[14]}

May 06, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 1,244

^{[5],[6],[13],[14]}

Fair Value

$ (9)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Altamira Technologies, LLC (Revolver) Maturity Date 07/24/2025 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

^{[5],[6],[13],[14]}

Jul. 24, 2025

^{[5],[6],[13],[14]}

Industry

IT Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,581

^{[5],[6],[13],[14]}

Fair Value

$ (55)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

^[5],[6],[13]

Jul. 24, 2025

^[5],[6],[13]

Industry

IT Services

^[5],[6],[13]

Current Coupon

11.67%

^[5],[6],[13]

11.67%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+800

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

800.00%

^{[5],[6],[13],[16]}

800.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 575

^[5],[6],[13]

Cost

575

^[5],[6],[13]

Fair Value

$ 555

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Altamira Technologies, LLC Maturity Date 07/24/2025 Industry IT Services, Current Coupon 10.81% Basis Point Spread Above Index 3M L+800

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

^[5],[6]

Jul. 24, 2025

^[5],[6]

Industry

IT Services

^[5],[6]

Current Coupon

10.81%

^[5],[6]

10.81%

^[5],[6]

Basis point spread above index, Percentage

3M L+800

^[5],[6],[16]

Basis point spread above index, Amount

800.00%

^[5],[6],[16]

800.00%

^[5],[6],[16]

Par / Shares

$ 4,794

^[5],[6]

Cost

4,756

^[5],[6]

Fair Value

$ 4,626

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% American Insulated Glass, LLC Maturity Date 12/21/2023 Industry Building Products, Current Coupon 17.79% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2023

^[5],[6]

Dec. 21, 2023

^[5],[6]

Industry

Building Products

^[5],[6]

Current Coupon

7.79%

^[5],[6]

7.79%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 7,601

^[5],[6]

Cost

7,559

^[5],[6]

Fair Value

$ 7,601

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% American Teleconferencing Services, Ltd. Maturity Date 06/08/2023 Industry Telecommunications, Current Coupon 0.00%

Schedule Of Investments [Line Items]

Maturity

Jun. 08, 2023

^[5],[6],[13]

Jun. 08, 2023

^[5],[6],[13]

Industry

Telecommunications

^[5],[6],[13]

Current Coupon

0.00%

^[5],[6],[13]

0.00%

^[5],[6],[13]

Par / Shares

$ 7,986

^[5],[6],[13]

Cost

7,915

^[5],[6],[13]

Fair Value

$ 90

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Amsive Holding Corporation (f/k/a Vision Purchaser Corporation) Maturity Date 06/10/2025 Industry Media Current Coupon 9.85% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

Jun. 10, 2025

^[5],[6]

Jun. 10, 2025

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Anteriad, LLC (f/k/a MeritDirect, LLC) (Revolver) Maturity Date 05/23/2024 Industry Media

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^{[5],[6],[13],[14]}

May 23, 2024

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 2,869

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^[5],[6]

May 23, 2024

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 14,568

^[5],[6]

Cost

14,486

^[5],[6]

Fair Value

$ 14,568

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Any Hour Services (Revolver) Maturity Date 07/21/2027 Industry Energy Equipment and Services

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^{[5],[6],[13],[14]}

Jul. 21, 2027

^{[5],[6],[13],[14]}

Industry

Energy Equipment and Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,147

^{[5],[6],[13],[14]}

Fair Value

$ (23)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Any Hour Services, Maturity Date 07/21/2027 Industry Energy Equipment and Services, Current Coupon 7.43%, Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^[5],[6]

Jul. 21, 2027

^[5],[6]

Industry

Energy Equipment and Services

^[5],[6]

Current Coupon

7.43%

^[5],[6]

7.43%

^[5],[6]

Basis point spread above index, Percentage

3M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 10,536

^[5],[6]

Cost

10,432

^[5],[6]

Fair Value

$ 10,326

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Apex Services Partners, LLC (Revolver), Maturity Date 07/31/2025 Industry Diversified Consumer Services

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^{[5],[6],[13],[14]}

Jul. 31, 2025

^{[5],[6],[13],[14]}

Industry

Diversified Consumer Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,845

^{[5],[6],[13],[14]}

Fair Value

$ (9)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Apex Services Partners, LLC Term Loan B, Maturity Date 07/31/2025 Industry Diversified Consumer Services, Current Coupon 9.67%, Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[5],[6]

Jul. 31, 2025

^[5],[6]

Industry

Diversified Consumer Services

^[5],[6]

Current Coupon

9.67%

^[5],[6]

9.67%

^[5],[6]

Basis point spread above index, Percentage

1M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 296

^[5],[6]

Cost

296

^[5],[6]

Fair Value

$ 295

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Apex Services Partners, LLC Term Loan C, Maturity Date 07/31/2025 Industry Diversified Consumer Services, Current Coupon 6.25%, Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[5],[6]

Jul. 31, 2025

^[5],[6]

Industry

Diversified Consumer Services

^[5],[6]

Current Coupon

7.75%

^[5],[6]

7.75%

^[5],[6]

Basis point spread above index, Percentage

1M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 12,906

^[5],[6]

Cost

12,814

^[5],[6]

Fair Value

$ 12,841

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Apex Services Partners, LLC, Maturity Date 07/31/2025 Industry Diversified Consumer Services, Current Coupon 6.72%, Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[5],[6]

Jul. 31, 2025

^[5],[6]

Industry

Diversified Consumer Services

^[5],[6]

Current Coupon

6.72%

^[5],[6]

6.72%

^[5],[6]

Basis point spread above index, Percentage

1M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 6,208

^[5],[6]

Cost

6,166

^[5],[6]

Fair Value

$ 6,177

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Applied Technical Services, LLC (Revolver) Maturity Date 12/29/2026 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^{[5],[6],[13],[14]}

Dec. 29, 2026

^{[5],[6],[13],[14]}

Industry

Commercial Services & Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 1,018

^{[5],[6],[13],[14]}

Fair Value

$ (25)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^{[5],[6],[13],[14]}

Dec. 29, 2026

^{[5],[6],[13],[14]}

Industry

Commercial Services & Supplies

^{[5],[6],[13],[14]}

Current Coupon

10.25%

^[5],[6],[13]

10.25%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+475

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

475.00%

^{[5],[6],[13],[16]}

475.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 255

^[5],[6],[13]

Cost

255

^[5],[6],[13]

Fair Value

$ 248

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Applied Technical Services, LLC (Unfunded Term Loan) Maturity Date 04/21/2023 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Apr. 21, 2023

^[5],[6]

Apr. 21, 2023

^[5],[6]

Industry

ommercial Services & Supplies

^[5],[6]

Par / Shares

$ 2,298

^[5],[6]

Fair Value

$ (32)

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Applied Technical Services, LLC Maturity Date 12/29/2026 Industry Commercial Services & Supplies Current Coupon 9.42% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[5],[6]

Dec. 29, 2026

^[5],[6]

Industry

Commercial Services & Supplies

^[5],[6]

Current Coupon

9.42%

^[5],[6]

9.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 7,147

^[5],[6]

Cost

7,040

^[5],[6]

Fair Value

$ 6,968

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Arcfield Acquisition Corp. (Revolver) Maturity Date 03/07/2028 Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Maturity

Mar. 07, 2028

^{[5],[6],[13],[14]}

Mar. 07, 2028

^{[5],[6],[13],[14]}

Industry

Aerospace and Defense

^{[5],[6],[13],[14]}

Current Coupon

0.00%

^{[5],[6],[13],[14]}

0.00%

^{[5],[6],[13],[14]}

Par / Shares

$ 887

^[5],[6],[14]

Fair Value

$ 18

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Beta Plus Technologies, Inc. Maturity Date 07/01/2029 Industry Internet Software and Services Current Coupon 7.76% Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

^[5],[6]

Jul. 01, 2029

^[5],[6]

Industry

Internet Software and Services

^[5],[6]

Current Coupon

7.76%

^[5],[6]

7.76%

^[5],[6]

Basis point spread above index, Percentage

1M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 5,000

^[5],[6]

Cost

4,901

^[5],[6]

Fair Value

$ 4,900

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution (Revolver), Inc Maturity Date 09/17/2024 Industry Distributors Current Coupon 8.87%, Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^[5],[6],[13]

Sep. 17, 2024

^[5],[6],[13]

Industry

Distributors

^[5],[6],[13]

Current Coupon

8.87%

^[5],[6],[13]

8.87%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

500.00%

^{[5],[6],[13],[16]}

500.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 549

^[5],[6],[13]

Cost

549

^[5],[6],[13]

Fair Value

$ 533

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution, Inc Maturity Date 09/17/2024 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^{[5],[6],[13],[14]}

Sep. 17, 2024

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 3,232

^{[5],[6],[13],[14]}

Fair Value

$ (40)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution, Inc Maturity Date 09/17/2024 Industry Distributors Current Coupon 8.33% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^[5],[6]

Sep. 17, 2024

^[5],[6]

Industry

Distributors

^[5],[6]

Current Coupon

8.33%

^[5],[6]

8.33%

^[5],[6]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[16]

Basis point spread above index, Amount

500.00%

^[5],[6],[16]

500.00%

^[5],[6],[16]

Par / Shares

$ 25

^[5],[6]

Cost

^[5],[6]

Fair Value

$ 25

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution, Inc Maturity Date 09/17/2024 Industry Distributors One

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^[5],[6],[14]

Sep. 17, 2024

^[5],[6],[14]

Industry

Distributors

^[5],[6],[14]

Par / Shares

$ 2,195

^[5],[6],[14]

Fair Value

$ 62

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Broder Bros., Co. Maturity Date 02/02/2022 Industry Textile Apparel and Luxury Goods Current Coupon 7.39% Basis Point Spread Above Index 1M L+600

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2022

^[5],[6]

Dec. 02, 2022

^[5],[6]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6]

Current Coupon

7.39%

^[5],[6]

7.39%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 3,405

^[5],[6]

Cost

3,405

^[5],[6]

Fair Value

$ 3,405

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% By Light Professional IT Services, LLC (Revolver) Maturity Date 05/16/2024 Industry High Tech Industries Current Coupon 9.75% Basis Point Spread Above Index 3M L+663

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

^[5],[6],[13]

May 16, 2024

^[5],[6],[13]

Industry

High Tech Industries

^[5],[6],[13]

Current Coupon

9.75%

^[5],[6],[13]

9.75%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+663

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

663.00%

^{[5],[6],[13],[16]}

663.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 877

^[5],[6],[13]

Cost

877

^[5],[6],[13]

Fair Value

$ 868

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% By Light Professional IT Services, LLC (Revolver), Maturity Date 05/16/2024 Industry High Tech Industries

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

^[5],[6],[14]

May 16, 2024

^[5],[6],[14]

Industry

High Tech Industries

^[5],[6],[14]

Par / Shares

$ 3,189

^[5],[6],[14]

Fair Value

$ (32)

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% By Light Professional IT Services, LLC Maturity Date 05/16/2024 Industry High Tech Industries Current Coupon 9.26% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

^[5],[6]

May 16, 2024

^[5],[6]

Industry

High Tech Industries

^[5],[6]

Current Coupon

9.26%

^[5],[6]

9.26%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6],[16]

Basis point spread above index, Amount

625.00%

^[5],[6],[16]

625.00%

^[5],[6],[16]

Par / Shares

$ 27,533

^[5],[6]

Cost

27,331

^[5],[6]

Fair Value

$ 27,257

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% CF512,Inc Maturity Date 08/20/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^{[5],[6],[13],[14]}

Aug. 20, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 191

^{[5],[6],[13],[14]}

Fair Value

$ (1)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% CF512,Inc Maturity Date 08/20/2026 Industry Media Current Coupon 9.28% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^[5],[6]

Aug. 20, 2026

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

9.28%

^[5],[6]

9.28%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 8,098

^[5],[6]

Cost

7,988

^[5],[6]

Fair Value

$ 7,976

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% CHA Holdings, Inc. Maturity Date 04/10/2025 Industry Environmental Industries Current Coupon 8.17% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

^[5],[6]

Apr. 10, 2025

^[5],[6]

Industry

Environmental Industries

^[5],[6]

Current Coupon

8.17%

^[5],[6]

8.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+450

^[5],[6],[16]

Basis point spread above index, Amount

450.00%

^[5],[6],[16]

450.00%

^[5],[6],[16]

Par / Shares

$ 1,581

^[5],[6]

Cost

1,577

^[5],[6]

Fair Value

$ 1,581

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Cadence Aerospace, LLC , Maturity Date 11/14/2023 Industry Aerospace and Defense Current Coupon 11.31%, Basis Point Spread Above Index 3M L+850

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

^[5],[6],[13]

Nov. 14, 2023

^[5],[6],[13]

Industry

Aerospace and Defense

^[5],[6],[13]

Current Coupon

11.31%

^[5],[6],[13]

11.31%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+850

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

850.00%

^{[5],[6],[13],[16]}

850.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 3,033

^[5],[6],[13]

Cost

3,024

^[5],[6],[13]

Fair Value

$ 3,003

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Cartessa Aesthetics, LLC (Revolver) Maturity Date 05/13/2028 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

^{[5],[6],[13],[14]}

May 13, 2028

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Fair Value

$ 14

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

^[5],[6],[13]

May 13, 2028

^[5],[6],[13]

Industry

Distributors

^[5],[6],[13]

Current Coupon

9.55%

^[5],[6],[13]

9.55%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+600

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[13],[16]}

600.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 511

^[5],[6],[13]

Cost

511

^[5],[6],[13]

Fair Value

$ 503

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Cartessa Aesthetics, LLC , Maturity Date 05/13/2028,Distributors, Current Coupon 9.55%, Basis Point Spread Above Index 1M L+600

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

^[5],[6]

May 13, 2028

^[5],[6]

Industry

Distributors

^[5],[6]

Current Coupon

9.55%

^[5],[6]

9.55%

^[5],[6]

Basis point spread above index, Percentage

1M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 16,459

^[5],[6]

Cost

16,143

^[5],[6]

Fair Value

$ 16,212

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Challenger Performance Optimization, Inc. (Revolver) Maturity Date 08/31/2023 Industry Business Services

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2023

^{[5],[6],[13],[14]}

Aug. 31, 2023

^{[5],[6],[13],[14]}

Industry

Business Services

^{[5],[6],[13],[14]}

Par / Shares

$ 356

^{[5],[6],[13],[14]}

Fair Value

$ (11)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2023

^{[5],[6],[13],[14]}

Aug. 31, 2023

^{[5],[6],[13],[14]}

Industry

Business Services

^{[5],[6],[13],[14]}

Current Coupon

9.27%

^{[5],[6],[13],[14]}

9.27%

^{[5],[6],[13],[14]}

Basis point spread above index, Percentage

1M L+675

^{[5],[6],[13],[14],[16]}

Basis point spread above index, Amount

675.00%

^{[5],[6],[13],[14],[16]}

675.00%

^{[5],[6],[13],[14],[16]}

Par / Shares

$ 357

^{[5],[6],[13],[14]}

Cost

357

^{[5],[6],[13],[14]}

Fair Value

$ 346

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Compex Legal Services, Inc. Maturity Date 02/09/2026 Industry Professional Services Current Coupon 8.83% Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Feb. 09, 2026

^[5],[6]

Feb. 09, 2026

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

8.83%

^[5],[6]

8.83%

^[5],[6]

Basis point spread above index, Percentage

3M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 8,038

^[5],[6]

Cost

8,010

^[5],[6]

Fair Value

$ 8,038

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Compex Legal Services, Inc.(Revolver) Maturity Date 02/07/2025 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^{[5],[6],[13],[14]}

Feb. 07, 2025

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 633

^{[5],[6],[13],[14]}

Fair Value

$ 0

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^[5],[6],[13]

Feb. 07, 2025

^[5],[6],[13]

Industry

Professional Services

^[5],[6],[13]

Current Coupon

8.92%

^[5],[6],[13]

8.92%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+525

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

525.00%

^{[5],[6],[13],[16]}

525.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 773

^[5],[6],[13]

Cost

773

^[5],[6],[13]

Fair Value

$ 773

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Connatix Buyer,Inc Maturity Date 07/13/2023 Industry Media

Schedule Of Investments [Line Items]

Maturity

Jan. 13, 2023

^{[5],[6],[13],[14]}

Jan. 13, 2023

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 2,105

^{[5],[6],[13],[14]}

Fair Value

$ (32)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Connatix Buyer,Inc, Maturity Date 07/13/2027 Industry Media

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^{[5],[6],[13],[14]}

Jul. 13, 2027

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 1,234

^{[5],[6],[13],[14]}

Fair Value

$ (30)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Connatix Buyer,Inc, Maturity Date 07/13/2027 Industry Media Current Coupon 8.42% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^[5],[6]

Jul. 13, 2027

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

8.42%

^[5],[6]

8.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 3,907

^[5],[6]

Cost

3,841

^[5],[6]

Fair Value

$ 3,810

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Crane 1 Service ,Inc., Maturity Date 08/16/2027 Industry Commercial Service & Supplies, Current Coupon 9.39%, Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[5],[6]

Aug. 16, 2027

^[5],[6]

Industry

Commercial Services & Supplies

^[5],[6]

Current Coupon

9.39%

^[5],[6]

9.39%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 891

^[5],[6]

Cost

885

^[5],[6]

Fair Value

$ 882

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% HW Holdco LLC Maturity Date 12/10/2024 Industry Media

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[5],[6]

Dec. 10, 2024

^[5],[6]

Industry

Media

^[5],[6],[14]

Par / Shares

$ 1,686

^[5],[6],[14]

Fair Value

$ (4)

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% HW Holdo , LLC (Revolver) Maturity Date 12/10/2024 Industry Media

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[5],[6]

Dec. 10, 2024

^[5],[6]

Industry

Media

^[5],[6]

Par / Shares

$ 1,452

^[5],[6]

Fair Value

$ (18)

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% IDC Infusion Services, Inc Maturity Date 12/30/2026 Industry Healthcare Equipment and Supplies Current Coupon 10.44% Basis Point Spread Above Index 3M L+700

Schedule Of Investments [Line Items]

Maturity

Dec. 30, 2026

^[5],[6]

Dec. 30, 2026

^[5],[6]

Industry

Healthcare Equipment and Supplies

^[5],[6]

Current Coupon

10.44%

^[5],[6]

10.44%

^[5],[6]

Basis point spread above index, Percentage

3M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 5,723

^[5],[6]

Cost

5,616

^[5],[6]

Fair Value

$ 5,506

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% IG Investment Holdings,LLC Maturity Date 9/22/2028 Industry Professional Services Current Coupon 9.45% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2028

^[5],[6],[13]

Sep. 22, 2028

^[5],[6],[13]

Industry

Professional Services

^[5],[6],[13]

Current Coupon

9.45%

^[5],[6],[13]

9.45%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+600

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[13],[16]}

600.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 4,473

^[5],[6],[13]

Cost

4,390

^[5],[6],[13]

Fair Value

$ 4,429

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% IG Investment Ventures, LLC Maturity Date 12/07/2023 Healthcare Providers Services Current Coupon 9.54% Basis Point Spread Above Index 3M L+715

Schedule Of Investments [Line Items]

Maturity

Dec. 07, 2023

^[5],[6]

Dec. 07, 2023

^[5],[6]

Industry

Healthcare Providers and Services

^[5],[6]

Current Coupon

10.13%

^[5],[6]

10.13%

^[5],[6]

Basis point spread above index, Percentage

3M L+715

^[5],[6]

Basis point spread above index, Amount

715.00%

^[5],[6]

715.00%

^[5],[6]

Par / Shares

$ 14,954

^[5],[6]

Cost

14,711

^[5],[6]

Fair Value

$ 14,804

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% ITI Holdings, Inc. (Revolver) Maturity Date 03/03/2028 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^{[5],[6],[13],[14]}

Mar. 03, 2028

^{[5],[6],[13],[14]}

Industry

IT Services

^{[5],[6],[13],[14]}

Par / Shares

$ 532

^{[5],[6],[13],[14]}

Fair Value

$ (11)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^[5],[6]

Mar. 03, 2028

^[5],[6]

Industry

IT Services

^[5],[6]

Current Coupon

8.25%

^[5],[6]

8.25%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 133

^[5],[6]

Cost

133

^[5],[6]

Fair Value

$ 130

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Imagine Acquisitionco, LLC (Revolver) Maturity Date 09/22/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2027

^{[5],[6],[13],[14]}

Sep. 22, 2027

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 477

^{[5],[6],[13],[14]}

Fair Value

$ 5

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[14]

Nov. 15, 2027

^[14]

Industry

Software

^[14]

Par / Shares

$ 1,193

^[14]

Fair Value

$ 30

^[7],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Imagine Acquisitionco, LLC Maturity Date 11/15/2027 Industry Software

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[5],[6],[14]

Nov. 15, 2027

^[5],[6],[14]

Industry

Software

^[5],[6],[14]

Par / Shares

$ 1,657

^[5],[6],[14]

Fair Value

$ 25

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[5],[6]

Nov. 15, 2027

^[5],[6]

Industry

Software

^[5],[6]

Current Coupon

8.42%

^[5],[6]

8.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 3,979

^[5],[6]

Cost

3,909

^[5],[6]

Fair Value

$ 3,879

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Industry IDC Infusion Services, Inc Maturity Date 12/30/2026 Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 30, 2026

^[5],[6],[14]

Dec. 30, 2026

^[5],[6],[14]

Industry

Healthcare Equipment and Supplies

^[5],[6],[14]

Par / Shares

$ 4,167

^[5],[6],[14]

Fair Value

$ (188)

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Infolinks Media Buyco, LLC Maturity 11/1/2023 Industry Media

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2023

^{[5],[6],[13],[15],[20]}

Nov. 01, 2023

^{[5],[6],[13],[15],[20]}

Industry

Media

^{[5],[6],[13],[15],[20]}

Current Coupon

0.00%

^{[5],[6],[13],[15],[20]}

0.00%

^{[5],[6],[13],[15],[20]}

Par / Shares

$ 969

^[5],[6],[14]

Fair Value

$ 10

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Infolinks Media Buyco,LLC Maturity Date 11/01/2026 Industry Media Current Coupon 9.42% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2026

^{[5],[6],[15],[20]}

Nov. 01, 2026

^{[5],[6],[15],[20]}

Industry

Media

^{[5],[6],[15],[20]}

Current Coupon

9.42%

^{[5],[6],[15],[20]}

9.42%

^{[5],[6],[15],[20]}

Basis point spread above index, Percentage

3M L+575

^{[5],[6],[15],[20]}

Basis point spread above index, Amount

575.00%

^{[5],[6],[15],[20]}

575.00%

^{[5],[6],[15],[20]}

Par / Shares

$ 2,625

^{[5],[6],[15],[20]}

Cost

2,581

^{[5],[6],[15],[20]}

Fair Value

$ 2,625

^{[5],[6],[15],[20]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Integrative Nutrition, LLC (Revolver) Maturity Date 09/29/2023 Industry Consumer Services

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2023

^{[5],[6],[13],[14]}

Sep. 29, 2023

^{[5],[6],[13],[14]}

Industry

Consumer Services

^{[5],[6],[13],[14]}

Par / Shares

$ 5,000

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Integrative Nutrition, LLC Maturity Date 09/29/2023 Industry Consumer Services Current Coupon 8.42% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2023

^[5],[6]

Sep. 29, 2023

^[5],[6]

Industry

Consumer Services

^[5],[6]

Current Coupon

8.42%

^[5],[6]

8.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+450

^[5],[6]

Basis point spread above index, Amount

450.00%

^[5],[6]

450.00%

^[5],[6]

Par / Shares

$ 15,636

^[5],[6]

Cost

15,600

^[5],[6]

Fair Value

$ 15,323

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Integrity Marketing Acquisition, LLC Maturity Date 08/27/2025 Industry Insurance Current Coupon 7.58% Basis Point Spread Above Index SOFR +550

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2025

^[5],[6],[13]

Aug. 27, 2025

^[5],[6],[13]

Industry

Insurance

^[5],[6],[13]

Current Coupon

7.58%

^[5],[6],[13]

7.58%

^[5],[6],[13]

Basis point spread above index, Percentage

SOFR+550

^[5],[6],[13]

Par / Shares

$ 15,825

^[5],[6],[13]

Cost

15,697

^[5],[6],[13]

Fair Value

$ 15,667

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% K2 Pure Solutions NoCal, L.P. (Revolver) Maturity Date 02/20/2023 Industry Chemicals, Plastic and Rubber

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

^{[5],[6],[13],[14]}

Dec. 20, 2023

^{[5],[6],[13],[14]}

Industry

Chemicals, Plastics and Rubber

^{[5],[6],[13],[14]}

Par / Shares

$ 1,429

^{[5],[6],[13],[14]}

Fair Value

$ 0

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Kinetic Purchaser, LLC (Revolver) Maturity Date 11/10/2026 Industry Personal Products Current Coupon 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2026

^[5],[6],[14]

Nov. 10, 2026

^[5],[6],[14]

Industry

Personal Products

^[5],[6],[14]

Current Coupon

9.67%

^[5],[6],[14]

9.67%

^[5],[6],[14]

Basis point spread above index, Percentage

3M L+600

^{[5],[6],[14],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[14],[16]}

600.00%

^{[5],[6],[14],[16]}

Par / Shares

$ 3,435

^[5],[6],[14]

Cost

3,435

^[5],[6],[14]

Fair Value

$ 3,366

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Kinetic Purchaser, LLC Maturity Date 11/10/2027 Industry Personal Products Current Coupon 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

^[5],[6]

Nov. 10, 2027

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

9.67%

^[5],[6]

9.67%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6]

Basis point spread above index, Amount

600.00%

^[5],[6]

600.00%

^[5],[6]

Par / Shares

$ 17,428

^[5],[6]

Cost

17,120

^[5],[6]

Fair Value

$ 17,079

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Ledge Lounger, Inc. (Revolver) Maturity 11/09/2026 Industry Leisure Products

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[5],[6],[13]

Nov. 09, 2026

^[5],[6],[13]

Industry

Leisure Products

^[5],[6],[13]

Current Coupon

0.00%

^[5],[6],[13]

0.00%

^[5],[6],[13]

Par / Shares

$ 789

^[5],[6]

Fair Value

$ (12)

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Ledge Lounger, Inc. Maturity 11/09/2026 Leisure Products Current Coupon 9.92% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[5],[6]

Nov. 09, 2026

^[5],[6]

Industry

Leisure Products

^[5],[6]

Current Coupon

9.92%

^[5],[6]

9.92%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6]

Basis point spread above index, Amount

625.00%

^[5],[6]

625.00%

^[5],[6]

Par / Shares

$ 3,747

^[5],[6]

Cost

3,683

^[5],[6]

Fair Value

$ 3,691

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Lightspeed Buyer Inc Maturity 02/03/2026 Industry Healthcare Technology Current Coupon 8.87 % Basis Point Spread Above Index 1M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^[5],[6]

Feb. 03, 2026

^[5],[6]

Industry

Healthcare Technology

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

1M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 24,357

^[5],[6]

Cost

24,065

^[5],[6]

Fair Value

$ 23,566

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Lightspeed Buyer Inc. (Revolver) Maturity 02/03/2026 Industry Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^{[5],[6],[13],[14]}

Feb. 03, 2026

^{[5],[6],[13],[14]}

Industry

Healthcare Technology

^{[5],[6],[13],[14]}

Par / Shares

$ 1,416

^{[5],[6],[13],[14]}

Fair Value

$ (46)

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^[5],[6],[13]

Feb. 03, 2026

^[5],[6],[13]

Industry

Healthcare Technology

^[5],[6],[13]

Current Coupon

8.87%

^[5],[6],[13]

8.87%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+575

^[5],[6],[13]

Basis point spread above index, Amount

575.00%

^[5],[6],[13]

575.00%

^[5],[6],[13]

Par / Shares

$ 1,083

^[5],[6],[13]

Cost

1,083

^[5],[6],[13]

Fair Value

$ 1,048

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Lucky Bucks, LLC Maturity 07/20/2027 Industry Hotels, Restaurants and Leisure Current Coupon 8.31% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

^[5],[6]

Jul. 20, 2027

^[5],[6]

Industry

Hotels, Restaurants and Leisure

^[5],[6]

Current Coupon

8.31%

^[5],[6]

8.31%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 4,331

^[5],[6]

Cost

4,258

^[5],[6]

Fair Value

$ 3,183

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% MAG DS Corp. Maturity 04/01/2027 Industry Aerospace and Defense Current Coupon 9.17% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2027

^[5],[6]

Apr. 01, 2027

^[5],[6]

Industry

Aerospace and Defense

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 3,714

^[5],[6]

Cost

3,576

^[5],[6]

Fair Value

$ 3,379

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% MBS Holdings, Inc. (Revolver) Maturity 04/16/2027 Industry Internet Software and Services

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

^{[5],[6],[13],[14]}

Apr. 16, 2027

^{[5],[6],[13],[14]}

Industry

Internet Software and Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,157

^{[5],[6],[13],[14]}

Fair Value

$ (12)

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% MDI Buyer, Inc. - Unfunded Term Loan Maturity 07/25/2028 Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^{[5],[6],[13],[14]}

Jul. 25, 2028

^{[5],[6],[13],[14]}

Industry

Commodity Chemicals

^{[5],[6],[13],[14]}

Par / Shares

$ 1,804

^{[5],[6],[13],[14]}

Fair Value

$ 18

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% MDI Buyer, inc. (Revolver) Maturity 07/25/2028 Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[5],[6],[14]

Jul. 25, 2028

^[5],[6],[14]

Industry

Commodity Chemicals

^[5],[6],[14]

Par / Shares

$ 773

^[5],[6],[14]

Fair Value

$ (8)

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Mars Acquisition Holdings Corp. (Revolver) Maturity 05/14/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^{[5],[6],[13],[14]}

May 14, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 1,624

^{[5],[6],[13],[14]}

Fair Value

$ (8)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[5],[6]

May 14, 2026

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

8.62%

^[5],[6]

8.62%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 6,052

^[5],[6]

Cost

5,958

^[5],[6]

Fair Value

$ 6,022

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Meadowlark Acquirer, LLC (Revolver) Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^{[5],[6],[13],[14]}

Dec. 10, 2027

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,693

^{[5],[6],[13],[14]}

Fair Value

$ (17)

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Meadowlark Acquirer, LLC - Term Loan I Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[5],[6]

Dec. 10, 2027

^[5],[6]

Industry

Professional Services

^[5],[6]

Par / Shares

$ 1,782

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Meadowlark Acquirer, LLC - Term Loan II Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[5],[6]

Dec. 10, 2027

^[5],[6]

Industry

Professional Services

^[5],[6]

Par / Shares

$ 9,483

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Meadowlark Acquirer, LLC Maturity 12/10/2027 Industry Professional Services Current Coupon 9.17% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[5],[6]

Dec. 10, 2027

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 1,319

^[5],[6]

Cost

1,306

^[5],[6]

Fair Value

$ 1,305

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Mission Critical Electronics, Inc Maturity 03/28/2024 Industry Capital Equipment

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[5],[6]

Mar. 28, 2024

^[5],[6]

Industry

Capital Equipment

^[5],[6]

Par / Shares

$ 883

^[5],[6]

Fair Value

$ (7)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[5],[6]

Mar. 28, 2024

^[5],[6]

Industry

Capital Equipment

^[5],[6]

Current Coupon

8.03%

^[5],[6]

8.03%

^[5],[6]

Basis point spread above index, Percentage

SOFR +500

^[5],[6]

Basis point spread above index, Amount

500.00%

^[5],[6]

500.00%

^[5],[6]

Par / Shares

$ 3,430

^[5],[6]

Cost

3,395

^[5],[6]

Fair Value

$ 3,389

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^{[5],[6],[13],[14]}

Mar. 28, 2024

^{[5],[6],[13],[14]}

Industry

Capital Equipment

^{[5],[6],[13],[14]}

Par / Shares

$ 769

^{[5],[6],[13],[14]}

Fair Value

$ (9)

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[5],[6],[13]

Mar. 28, 2024

^[5],[6],[13]

Industry

Capital Equipment

^[5],[6],[13]

Current Coupon

6.67%

^[5],[6],[13]

6.67%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+500

^[5],[6],[13]

Basis point spread above index, Amount

500.00%

^[5],[6],[13]

500.00%

^[5],[6],[13]

Par / Shares

$ 557

^[5],[6],[13]

Cost

557

^[5],[6],[13]

Fair Value

$ 550

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Municipal Emergency Services, Inc. (Revolver) Maturity 09/28/2027 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^{[5],[6],[13],[14]}

Sep. 28, 2027

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 805

^{[5],[6],[13],[14]}

Fair Value

$ (47)

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^{[5],[6],[13],[14]}

Sep. 28, 2027

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Current Coupon

8.67%

^[5],[6],[13]

8.67%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[13]

Basis point spread above index, Amount

500.00%

^[5],[6],[13]

500.00%

^[5],[6],[13]

Par / Shares

$ 142

^{[5],[6],[13],[14]}

Cost

142

^[5],[6],[13]

Fair Value

$ 134

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^{[5],[6],[13],[14]}

Sep. 28, 2027

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 592

^{[5],[6],[13],[14]}

Fair Value

$ (29)

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Municipal Emergency Services, Inc. Maturity 09/28/2027 Industry Distributors Current Coupon 8.67% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^[5],[6],[13]

Sep. 28, 2027

^[5],[6],[13]

Industry

Distributors

^[5],[6],[13]

Current Coupon

8.67%

^[5],[6],[13]

8.67%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[13]

Basis point spread above index, Amount

500.00%

^[5],[6],[13]

500.00%

^[5],[6],[13]

Par / Shares

$ 354

^[5],[6],[13]

Cost

351

^[5],[6],[13]

Fair Value

$ 334

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% NBH Group LLC (Revolver) Maturity 08/19/2026 Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

^{[5],[6],[13],[14]}

Aug. 19, 2026

^{[5],[6],[13],[14]}

Industry

Healthcare Equipment and Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 1,677

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% OIS Management Services, LLC (Revolver) Maturity 07/09/2026 Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Jul. 09, 2026

^{[5],[6],[13],[14]}

Jul. 09, 2026

^{[5],[6],[13],[14]}

Industry

Healthcare Equipment and Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 444

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% OIS Management Services, LLC Maturity 07/09/2026 Industry Healthcare Equipment and Supplies Current Coupon 9.45% Basis Point Spread Above Index SOFR + 575

Schedule Of Investments [Line Items]

Maturity

Jul. 09, 2026

^[5],[6]

Jul. 09, 2026

^[5],[6]

Industry

Healthcare Equipment and Supplies

^[5],[6]

Current Coupon

9.45%

^[5],[6]

9.45%

^[5],[6]

Basis point spread above index, Percentage

SOFR + 575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 1,975

^[5],[6]

Cost

1,951

^[5],[6]

Fair Value

$ 1,975

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% ORL Acquisition, Inc. (Revolver) Maturity 09/03/2027 Industry Consumer Finance

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^[5],[6]

Sep. 03, 2027

^[5],[6]

Industry

Consumer Finance

^[5],[6]

Par / Shares

$ 861

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% ORL Acquisition, Inc. Maturity 09/03/2027 Industry Consumer Finance Current Coupon 8.92% Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^[5],[6],[13]

Sep. 03, 2027

^[5],[6],[13]

Industry

Consumer Finance

^[5],[6],[13]

Current Coupon

8.92%

^[5],[6],[13]

8.92%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+525

^[5],[6],[13]

Basis point spread above index, Amount

525.00%

^[5],[6],[13]

525.00%

^[5],[6],[13]

Par / Shares

$ 7,195

^[5],[6],[13]

Cost

7,069

^[5],[6],[13]

Fair Value

$ 7,195

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% One Stop Mailing, LLC Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 9.37% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

^[5],[6]

May 07, 2027

^[5],[6]

Industry

Air Freight and Logistics

^[5],[6]

Current Coupon

9.37%

^[5],[6]

9.37%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6]

Basis point spread above index, Amount

625.00%

^[5],[6]

625.00%

^[5],[6]

Par / Shares

$ 8,759

^[5],[6]

Cost

8,612

^[5],[6]

Fair Value

$ 8,496

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Output Services Group, Inc. Maturity 03/27/2024 Industry Business Services Current Coupon 9.8% Basis Point Spread Above Index 1M L+675

Schedule Of Investments [Line Items]

Maturity

Mar. 27, 2024

^[5],[6]

Mar. 27, 2024

^[5],[6]

Industry

Business Services

^[5],[6]

Current Coupon

9.80%

^[5],[6]

9.80%

^[5],[6]

Basis point spread above index, Percentage

1M L+675

^[5],[6]

Basis point spread above index, Amount

675.00%

^[5],[6]

675.00%

^[5],[6]

Par / Shares

$ 4,874

^[5],[6]

Cost

4,592

^[5],[6]

Fair Value

$ 3,704

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Owl Acquisition, LLC Maturity 02/04/2028 Industry Professional Services Current Coupon 8.41% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

^[5],[6]

Feb. 04, 2028

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

8.41%

^[5],[6]

8.41%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 3,990

^[5],[6]

Cost

3,874

^[5],[6]

Fair Value

$ 3,890

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Ox Two, LLC (Revolver) Maturity 05/18/2026 Industry Construction and Building

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[5],[6]

May 18, 2026

^[5],[6]

Industry

Construction and Building

^[5],[6]

Par / Shares

$ 903

^[5],[6]

Fair Value

$ (18)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[5],[6]

May 18, 2026

^[5],[6]

Industry

Construction and Building

^[5],[6]

Current Coupon

9.81%

^[5],[6]

9.81%

^[5],[6]

Basis point spread above index, Percentage

1M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 2,484

^[5],[6]

Cost

2,484

^[5],[6]

Fair Value

$ 2,434

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Ox Two, LLC Maturity 05/18/2026 Industry Construction and Building Current Coupon 9.81% Basis Point Spread Above Index 1M L+700

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[5],[6]

May 18, 2026

^[5],[6]

Industry

Construction and Building

^[5],[6]

Current Coupon

9.81%

^[5],[6]

9.81%

^[5],[6]

Basis point spread above index, Percentage

1M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 25,772

^[5],[6]

Cost

25,440

^[5],[6]

Fair Value

$ 25,257

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% PL Acquisitionco, LLC - (Revolver) Maturity 11/09/2027

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[5],[6]

Nov. 09, 2027

^[5],[6]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6]

Par / Shares

$ 2,290

^[5],[6]

Fair Value

$ (57)

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% PRA Events, Inc. Maturity 08/07/2025 Industry Business Services Current Coupon 14.17% (PIK 10.50%) Basis Point Spread Above Index 1M L+1,050

Schedule Of Investments [Line Items]

Maturity

Aug. 07, 2025

^[5],[6]

Aug. 07, 2025

^[5],[6]

Industry

Business Services

^[5],[6]

Current Coupon

14.17%

^[5],[6]

14.17%

^[5],[6]

Current Coupons, PIK

10.50%

^[5],[6]

10.50%

^[5],[6]

Basis point spread above index, Percentage

1M L+1,050

^[5],[6]

Basis point spread above index, Amount

1050.00%

^[5],[6]

1050.00%

^[5],[6]

Par / Shares

$ 3,323

^[5],[6]

Cost

2,903

^[5],[6]

Fair Value

$ 3,323

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Plant Health Intermediate, Inc. Maturity 10/19/2022 Industry Chemicals, Plastics and Rubber Current Coupon 8.87% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 637

^[5],[6]

Cost

637

^[5],[6]

Fair Value

$ 637

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% PlayPower, Inc. Maturity 05/08/2026 Industry Leisure Products Current Coupon 9.17% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

^[5],[6]

May 08, 2026

^[5],[6]

Industry

Leisure Products

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 3,440

^[5],[6]

Cost

3,419

^[5],[6]

Fair Value

$ 3,078

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Pragmatic Institute, LLC (Revolver). Maturity 07/06/2028 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^{[5],[6],[13],[14]}

Jul. 06, 2028

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,221

^{[5],[6],[13],[14]}

Fair Value

$ (12)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[5],[6]

Jul. 06, 2028

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

9.30%

^[5],[6]

9.30%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 305

^[5],[6]

Cost

305

^[5],[6]

Fair Value

$ 302

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Pragmatic Institute, LLC - Unfunded Term Loan. Maturity 07/06/2028 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[5],[6]

Jul. 06, 2028

^[5],[6]

Industry

Professional Services

^[5],[6]

Par / Shares

$ 2,290

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Quantic Electronics, LLC Maturity 11/19/2026 Electronic Equipment, Instruments, and Components Current Coupon 9.92% Basis Point Spread Above Index 1M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

9.92%

Basis point spread above index, Percentage

1M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 4,706

Cost

4,632

Fair Value

$ 4,612

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Quantic Electronics, LLC(Revolver) Maturity 11/19/2026 Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[13],[14]

Nov. 19, 2026

^[13],[14]

Industry

Electronic Equipment, Instruments, and Components

^[13],[14]

Par / Shares

$ 402

^[13],[14]

Fair Value

$ (8)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[13]

Nov. 19, 2026

^[13]

Industry

Electronic Equipment, Instruments, and Components

^[13]

Current Coupon

9.51%

^[13]

9.51%

^[13]

Basis point spread above index, Percentage

1M L+600

^[13],[16]

Basis point spread above index, Amount

600.00%

^[13],[16]

600.00%

^[13],[16]

Par / Shares

$ 268

^[13]

Cost

268

^[13]

Fair Value

$ 263

^[7],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Questex, LLC Maturity 09/09/2024 Media: Diversified and Production Current Coupon 7.45% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

Industry

Media: Diversified and Production

Current Coupon

7.45%

Basis point spread above index, Percentage

3M L+500

^[16]

Basis point spread above index, Amount

500.00%

^[16]

500.00%

^[16]

Par / Shares

$ 7,200

Cost

7,146

Fair Value

$ 7,056

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Questex, LLC(Revolver) Maturity 09/09/2024 Media: Diversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

^[13],[14]

Sep. 09, 2024

^[13],[14]

Industry

Media: Diversified and Production

^[13],[14]

Par / Shares

$ 1,197

^[13],[14]

Fair Value

$ (24)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Rancho Health MSO, Inc Maturity 12/18/2025 Healthcare Equipment and Supplies Current Coupon 7.75% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13]

Dec. 18, 2025

^[13]

Industry

Healthcare Equipment and Supplies

^[13]

Current Coupon

7.75%

^[13]

7.75%

^[13]

Basis point spread above index, Percentage

3M L+550

^[13],[16]

Basis point spread above index, Amount

550.00%

^[13],[16]

550.00%

^[13],[16]

Par / Shares

$ 1,040

^[13]

Cost

1,040

^[13]

Fair Value

$ 1,040

^[7],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Rancho Health MSO, Inc(Revolver) Maturity 12/18/2025 Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13],[14]

Dec. 18, 2025

^[13],[14]

Industry

Healthcare Equipment and Supplies

^[13],[14]

Par / Shares

$ 525

^[13],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Recteq, LLC Maturity 01/29/2026 Leisure Products Current Coupon 9.92% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

Industry

Leisure Products

Current Coupon

9.92%

Basis point spread above index, Percentage

3M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 1,478

Cost

1,457

Fair Value

$ 1,426

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Recteq, LLC(Revolver) Maturity 01/29/2026 Leisure Products

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^[13],[14]

Jan. 29, 2026

^[13],[14]

Industry

Leisure Products

^[13],[14]

Par / Shares

$ 936

^[13],[14]

Fair Value

$ (33)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Recteq, LLC(Revolver) Maturity 01/29/2026 Leisure Products Current Coupon 9.92% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^[13]

Jan. 29, 2026

^[13]

Industry

Leisure Products

^[13]

Current Coupon

9.92%

^[13]

9.92%

^[13]

Basis point spread above index, Percentage

3M L+600

^[13],[16]

Basis point spread above index, Amount

600.00%

^[13],[16]

600.00%

^[13],[16]

Par / Shares

$ 360

^[13]

Cost

360

^[13]

Fair Value

$ 347

^[7],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Research Now Group, Inc. and Dynata, LLC Maturity 12/20/2024 Business Services Current Coupon 8.84% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Business Services

Current Coupon

8.84%

Basis point spread above index, Percentage

3M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 17,142

Cost

16,985

Fair Value

$ 15,406

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Riverpoint Medical, LLC Maturity 06/20/2025 Healthcare Equipment and Supplies Current Coupon 8.65% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

Industry

Healthcare Equipment and Supplies

Current Coupon

8.65%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 7,980

Cost

7,924

Fair Value

$ 7,781

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Riverpoint Medical, LLC(Revolver) Maturity 06/20/2025 Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^[13],[14]

Jun. 20, 2025

^[13],[14]

Industry

Healthcare Equipment and Supplies

^[13],[14]

Par / Shares

$ 909

^[13],[14]

Fair Value

$ (23)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Riverside Assessments, LLC Maturity 03/10/2025 Professional Services Current Coupon 9.95% Basis Point Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

Mar. 10, 2025

Industry

Professional Services

Current Coupon

9.95%

Basis point spread above index, Percentage

3M L+625

^[16]

Basis point spread above index, Amount

625.00%

^[16]

625.00%

^[16]

Par / Shares

$ 15,356

Cost

15,201

Fair Value

$ 15,049

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Sales Benchmark Index LLC Maturity 01/03/2025 Professional Services Current Coupon 9.67% Basis Point Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

Industry

Professional Services

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 7,105

Cost

7,034

Fair Value

$ 7,034

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Sales Benchmark Index LLC(Revolver) Maturity 01/03/2025 Professional Services

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

^[13],[14]

Jan. 03, 2025

^[13],[14]

Industry

Professional Services

^[13],[14]

Par / Shares

$ 1,293

^[13],[14]

Fair Value

$ (13)

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Sargent & Greenleaf Inc. Maturity 12/20/2024 Electronic Equipment, Instruments, and Components Current Coupon 8.62% Basis Point Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 3,487

Cost

3,462

Fair Value

$ 3,452

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Sargent & Greenleaf Inc.(Revolver) Maturity 12/20/2024 Electronic Equipment, Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[14]

Dec. 20, 2024

^[14]

Industry

Electronic Equipment, Instruments, and Components

^[14]

Par / Shares

$ 9

^[14]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

8.28%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 1,048

Cost

1,048

Fair Value

$ 1,037

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Schlesinger Global, Inc. Maturity 07/14/2025 Professional Services Current Coupon 10.27% Basis Point Basis Point Spread Above Index SOFR + 700

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Professional Services

Current Coupon

10.27%

Basis point spread above index, Percentage

SOFR + 700

^[16]

Basis point spread above index, Amount

700.00%

^[16]

700.00%

^[16]

Par / Shares

$ 14,560

Cost

14,467

Fair Value

$ 14,196

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Schlesinger Global, Inc.(Revolver) Maturity 07/14/2025 Professional Services

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^[13],[14]

Jul. 14, 2025

^[13],[14]

Industry

Professional Services

^[13],[14]

Par / Shares

$ 385

^[13],[14]

Fair Value

$ (10)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Professional Services

Current Coupon

10.14%

Basis point spread above index, Percentage

1M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 1,487

Cost

1,487

Fair Value

$ 1,450

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Seaway Buyer, LLC Maturity 06/13/2029 Chemicals, Plastics and Rubber Current Coupon 9.41% Basis Point Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Jun. 13, 2029

Industry

Chemicals, Plastics and Rubber

Current Coupon

9.41%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 6,940

Cost

6,836

Fair Value

$ 6,836

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Sigma Defense Systems, LLC Maturity 12/18/2025 IT Services Current Coupon 12.17% Basis Point Basis Point Spread Above Index 3M L+850

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

IT Services

Current Coupon

12.17%

Basis point spread above index, Percentage

3M L+850

^[16]

Basis point spread above index, Amount

850.00%

^[16]

850.00%

^[16]

Par / Shares

$ 10,969

Cost

10,742

Fair Value

$ 10,750

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Sigma Defense Systems, LLC(Revolver) Maturity 12/18/2025 IT Services

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13],[14]

Dec. 18, 2025

^[13],[14]

Industry

IT Services

^[13],[14]

Par / Shares

$ 1,625

^[13],[14]

Fair Value

$ (32)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13],[14]

Dec. 18, 2025

^[13],[14]

Industry

IT Services

^[13],[14]

Current Coupon

12.17%

^[13],[14]

12.17%

^[13],[14]

Basis point spread above index, Percentage

3M L+850

^{[13],[14],[16]}

Basis point spread above index, Amount

850.00%

^{[13],[14],[16]}

850.00%

^{[13],[14],[16]}

Par / Shares

$ 996

^[13],[14]

Cost

996

^[13],[14]

Fair Value

$ 976

^{[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Signature Systems Holding Company Maturity 05/03/2024 Commercial Services & Supplies Current Coupon 10.17% Basis Point Basis Point Spread Above Index 1M L+650

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

Industry

Commercial Services & Supplies

Current Coupon

10.17%

Basis point spread above index, Percentage

1M L+650

^[16]

Basis point spread above index, Amount

650.00%

^[16]

650.00%

^[16]

Par / Shares

$ 10,358

Cost

10,301

Fair Value

$ 10,280

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Signature Systems Holding Company(Revolver) Maturity 05/03/2024 Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

^[14]

May 03, 2024

^[14]

Industry

Commercial Services & Supplies

^[14]

Par / Shares

$ 1,747

^[14]

Fair Value

$ (13)

^[7],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Smile Brands Inc. Maturity 10/14/2025 Healthcare and Pharmaceuticals Current Coupon 7.42% Basis Point Basis Point Spread Above Index 1M L+450

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

7.42%

Basis point spread above index, Percentage

1M L+450

^[16]

Basis point spread above index, Amount

450.00%

^[16]

450.00%

^[16]

Par / Shares

$ 2,462

Cost

2,462

Fair Value

$ 2,370

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Smile Brands Inc.(Revolver) Maturity 10/14/2025 Healthcare and Pharmaceuticals

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Par / Shares

$ 1,508

Fair Value

$ (57)

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Smile Brands Inc.LC(Revolver) Maturity 10/14/2025 Healthcare and Pharmaceuticals

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Par / Shares

$ 108

Fair Value

$ (4)

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Solutionreach, Inc. Maturity 01/17/2024 Healthcare Technology Current Coupon 8.87% Basis Point Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Healthcare Technology

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 5,740

Cost

5,705

Fair Value

$ 5,602

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Solutionreach, Inc.(Revolver) Maturity 01/17/2024 Healthcare Technology

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Healthcare Technology

Par / Shares

$ 1,665

Fair Value

$ (40)

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Spear Education, LLC Maturity 02/26/2025 Professional Services Current Coupon 9.42% Basis Point Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 26, 2025

Industry

Professional Services

Current Coupon

9.42%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 14,747

Cost

14,642

Fair Value

$ 14,747

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7%, Duraco Specialty Tapes LLC, Maturity Date 06/30/2024 Industry Containers and Packaging Current Coupon 8.62% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

^[5],[6]

Jun. 30, 2024

^[5],[6]

Industry

Containers and Packaging

^[5],[6]

Current Coupon

8.62%

^[5],[6]

8.62%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 3,247

^[5],[6]

Cost

3,208

^[5],[6]

Fair Value

$ 3,169

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7%, LAV Gear Holdings, Inc. (Revolver), Maturity 10/31/2024, Capital Equipment, Current Coupon 9.95%, (PIK 5.00%) Basis Point Spread Above Index 1M L+750

Schedule Of Investments [Line Items]

Current Coupon

5.50%

^[5],[6],[13]

5.50%

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7%, LAV Gear Holdings, Inc., Maturity 10/31/2024, Capital Equipment, Current Coupon 5.00%, (PIK 5.00%) Basis Point Spread Above Index 1M L+750

Schedule Of Investments [Line Items]

Current Coupon

5.50%

^[5],[6],[13]

5.50%

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7%Investments in Non- Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Crane 1 Services, Inc. (Revolver), Maturity Date 08/16/2027 Industry Commercial Service & Supplies Current Coupon 8.87% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[5],[6],[13]

Aug. 16, 2027

^[5],[6],[13]

Industry

Commercial Services & Supplies

^[5],[6],[13]

Current Coupon

8.87%

^[5],[6],[14]

8.87%

^[5],[6],[14]

Basis point spread above index, Percentage

3M L+575

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

575.00%

^{[5],[6],[13],[16]}

575.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 224

^[5],[6],[13]

Cost

224

^[5],[6],[13]

Fair Value

$ 222

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Crane 1 Services, Inc. (Revolver) Maturity Date 08/16/2027 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^{[5],[6],[13],[14]}

Aug. 16, 2027

^{[5],[6],[13],[14]}

Industry

Commercial Services & Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 112

^{[5],[6],[13],[14]}

Fair Value

$ (1)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% DRS Holdings III, Inc. Maturity Date 11/03/2025 Personal Products Current Coupon 8.87% Basis Point Spread Above Index 3ML+575

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^[5],[6]

Nov. 03, 2025

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

Par / Shares

$ 17,111

^[5],[6]

Cost

16,993

^[5],[6]

Fair Value

$ 16,564

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% DRS Holdings III, Inc.(Revolver) Maturity Date 11/03/2025 Industry Personal Products

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^{[5],[6],[13],[14]}

Nov. 03, 2025

^{[5],[6],[13],[14]}

Industry

Personal Products

^{[5],[6],[13],[14]}

Par / Shares

$ 1,426

^{[5],[6],[13],[14]}

Fair Value

$ (46)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Douglas Products and Packaging Company LLC (Revolver). Maturity Date 10/19/2022 Chemicals, Plastics and Rubber Current Coupon 11.00% Basis Point Spread Above Index P+475

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

11.00%

^[5],[6]

11.00%

^[5],[6]

Basis point spread above index, Percentage

P+475

^[5],[6],[16]

Basis point spread above index, Amount

475.00%

^[5],[6],[16]

475.00%

^[5],[6],[16]

Par / Shares

$ 2,627

^[5],[6]

Cost

2,627

^[5],[6]

Fair Value

$ 2,627

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6],[14]

Oct. 19, 2022

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Douglas Products and Packaging Company LLC. Maturity Date 10/19/2022 Industry Chemicals, Plastics and Rubber Current Coupon 8.87%, Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 6,477

^[5],[6]

Cost

6,476

^[5],[6]

Fair Value

$ 6,477

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Douglas Sewer Intermediate, LLC. Maturity Date 10/19/2022 Industry Chemicals, Plastics and Rubber Current Coupon 8.87% Basis Point Spread Above Index 3ML+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 3,920

^[5],[6]

Cost

3,920

^[5],[6]

Fair Value

$ 3,920

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Dr.Squatch,LLC (Revolver). Maturity Date 08/31/2027 Personal Products Current Coupon 8.95% Basis Point Spread Above Index 3ML+600

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^[5],[6],[13]

Aug. 31, 2027

^[5],[6],[13]

Industry

Personal Products

^[5],[6],[13]

Current Coupon

8.95%

^[5],[6],[13]

8.95%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+600

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[13],[16]}

600.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 1,118

^[5],[6],[13]

Cost

1,118

^[5],[6],[13]

Fair Value

$ 1,101

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Dr.Squatch,LLC. Maturity Date 08/31/2027, Personal Products Current Coupon 9.42% Basis Point Spread Above Index 3ML+600

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^[5],[6]

Aug. 31, 2027

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

9.42%

^[5],[6]

9.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 4,428

^[5],[6]

Cost

4,356

^[5],[6]

Fair Value

$ 4,362

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% ECL Enterainment, LLC Maturity Date 05/01/2028 Industry Hotel, Restaurants and Leisure Current Coupon 10.62% Basis Point Spread Above Index 1ML+750

Schedule Of Investments [Line Items]

Maturity

May 01, 2028

^[5],[6]

May 01, 2028

^[5],[6]

Industry

Hotels, Restaurants and Leisure

^[5],[6]

Current Coupon

10.62%

^[5],[6]

10.62%

^[5],[6]

Basis point spread above index, Percentage

1M L+750

^[5],[6],[16]

Basis point spread above index, Amount

750.00%

^[5],[6],[16]

750.00%

^[5],[6],[16]

Par / Shares

$ 5,203

^[5],[6]

Cost

5,158

^[5],[6]

Fair Value

$ 5,125

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% ECM Indutries,LLC (Revolver) Maturity Date 12/23/2025 Industry Electronic Equipment Instruments, and Components

Schedule Of Investments [Line Items]

Maturity

Dec. 23, 2025

^[5],[6],[14]

Dec. 23, 2025

^[5],[6],[14]

Industry

Electronic Equipment, Instruments, and Components

^[5],[6],[14]

Par / Shares

$ 400

^[5],[6],[14]

Fair Value

$ (19)

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Efficient Collaborative Retail Marketing Company, LLC Maturity Date 06/15/2024, Media: Diversified and Production, Current Coupon 10.42%, Basis Point Spread Above Index 3ML+675

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2024

^[5],[6]

Jun. 15, 2024

^[5],[6]

Industry

Media: Diversified and Production

^[5],[6]

Current Coupon

10.42%

^[5],[6]

10.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+675

^[5],[6],[16]

Basis point spread above index, Amount

675.00%

^[5],[6],[16]

675.00%

^[5],[6],[16]

Par / Shares

$ 7,150

^[5],[6]

Cost

7,123

^[5],[6]

Fair Value

$ 6,936

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Exigo Intermediate II, LLC (Revolver), Maturity Date 03/15/2027 Industry Software

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

^{[5],[6],[13],[14]}

Mar. 15, 2027

^{[5],[6],[13],[14]}

Industry

Software

^{[5],[6],[13],[14]}

Par / Shares

$ 552

^{[5],[6],[13],[14]}

Fair Value

$ (12)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

^[5],[6]

Mar. 15, 2027

^[5],[6]

Industry

Software

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 138

^[5],[6]

Cost

138

^[5],[6]

Fair Value

$ 135

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Findex Group Limited Maturity Date 05/31/2024 Industry Diversified Financial Services Current Coupon 7.17% Basis Point Spread Above Index 3ML+450

Schedule Of Investments [Line Items]

Maturity

May 31, 2024

^{[5],[6],[15],[20],[21]}

May 31, 2024

^{[5],[6],[15],[20],[21]}

Industry

Diversified Financial Services

^{[5],[6],[15],[20],[21]}

Current Coupon

7.17%

^{[5],[6],[15],[20],[21]}

7.17%

^{[5],[6],[15],[20],[21]}

Basis point spread above index, Percentage

3M L+450

^{[5],[6],[15],[16],[20],[21]}

Basis point spread above index, Amount

450.00%

^{[5],[6],[15],[16],[20],[21]}

450.00%

^{[5],[6],[15],[16],[20],[21]}

Par / Shares

$ 10,000

^[5],[6]

Cost

$ 7,399

^{[5],[6],[15],[20],[21]}

Fair Value

$ 6,430

^{[5],[6],[7],[15],[20],[21]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Gantech Acquisition Corp. (Revolver) Maturity Date 05/14/2026 Industry IT Services

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^{[5],[6],[13],[14]}

May 14, 2026

^{[5],[6],[13],[14]}

Industry

IT Services

^{[5],[6],[13],[14]}

Par / Shares

$ 3,484

^{[5],[6],[13],[14]}

Fair Value

$ (105)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[5],[6]

May 14, 2026

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Gantech Acquisition Corp. Maturity Date 05/14/2026 Industry IT Services Current Coupon 9.37% Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[5],[6]

May 14, 2026

^[5],[6]

Industry

IT Services

^[5],[6]

Current Coupon

9.37%

^[5],[6]

9.37%

^[5],[6]

Basis point spread above index, Percentage

1M L+625

^[5],[6]

Basis point spread above index, Amount

625.00%

^[5],[6]

625.00%

^[5],[6]

Par / Shares

$ 21,982

^[5],[6]

Cost

21,632

^[5],[6]

Fair Value

$ 21,322

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Global Holdings InterCo LLC Maturity Date 03/16/2026 Industry Diversified Financial Services Current Coupon 8.74% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

^[5],[6]

Mar. 16, 2026

^[5],[6]

Industry

Diversified Financial Services

^[5],[6]

Current Coupon

8.74%

^[5],[6]

8.74%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 3,427

^[5],[6]

Cost

3,388

^[5],[6]

Fair Value

$ 3,273

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Graffiti Buyer, Inc. (Revolver) Maturity Date 08/10/2027 Industry Trading Companies & Distributors

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^{[5],[6],[13],[14]}

Aug. 10, 2027

^{[5],[6],[13],[14]}

Industry

Trading Companies & Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 447

^{[5],[6],[13],[14]}

Fair Value

$ (18)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^[5],[6],[13]

Aug. 10, 2027

^[5],[6],[13]

Industry

Trading Companies & Distributors

^[5],[6],[13]

Current Coupon

8.92%

^[5],[6],[13]

8.92%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+575

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

575.00%

^{[5],[6],[13],[16]}

575.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 418

^[5],[6],[13]

Cost

418

^[5],[6],[13]

Fair Value

$ 401

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Graffiti Buyer, Inc. Maturity Date 08/10/2023 Industry Trading Companies & Distributors Current

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2023

^{[5],[6],[13],[14]}

Aug. 10, 2023

^{[5],[6],[13],[14]}

Industry

Trading Companies & Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 1,071

^{[5],[6],[13],[14]}

Fair Value

$ (24)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% HW Holdo, LLC Maturity Date 12/10/2024 Industry Media Current Coupon 6.00% Basis Point Spread Above Index 1M L+500

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[5],[6]

Dec. 10, 2024

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

6.00%

^[5],[6]

6.00%

^[5],[6]

Basis point spread above index, Percentage

1M L+500

^[5],[6]

Basis point spread above index, Amount

500.00%

^[5],[6]

500.00%

^[5],[6]

Par / Shares

$ 8,457

^[5],[6]

Cost

8,416

^[5],[6]

Fair Value

8,352

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Hancock Roofing and Construction L.L.C. (Revolver) Maturity Date 12/31/2026 Industry Insurance

Schedule Of Investments [Line Items]

Industry

Insurance

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Par / Shares

480

^{[5],[6],[13],[14]}

Fair Value

$ (7)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[5],[6],[13]

Dec. 31, 2026

^[5],[6],[13]

Industry

Insurance

^[5],[6],[13]

Current Coupon

7.82%

^[5],[6],[13]

7.82%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

500.00%

^{[5],[6],[13],[16]}

500.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 270

^[5],[6],[13]

Cost

270

^[5],[6],[13]

Fair Value

$ 266

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2022

^{[5],[6],[13],[14]}

Dec. 31, 2022

^{[5],[6],[13],[14]}

Industry

Insurance

^{[5],[6],[13],[14]}

Par / Shares

$ 400

^{[5],[6],[13],[14]}

Fair Value

$ (6)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Hancock Roofing and Construction L.L.C. Maturity Date 12/31/2026 Industry Insurance Current Coupon 8.67% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[5],[6]

Dec. 31, 2026

^[5],[6]

Industry

Insurance

^[5],[6]

Current Coupon

8.67%

^[5],[6]

8.67%

^[5],[6]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[16]

Basis point spread above index, Amount

500.00%

^[5],[6],[16]

500.00%

^[5],[6],[16]

Par / Shares

$ 4,441

^[5],[6]

Cost

4,378

^[5],[6]

Fair Value

$ 4,374

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Holdco Sands Intermediate, LLC (Revolver) Maturity Date 11/23/2027 Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2027

^[5],[6],[14]

Nov. 23, 2027

^[5],[6],[14]

Industry

Aerospace and Defense

^[5],[6],[14]

Par / Shares

$ 1,791

^[5],[6],[14]

Fair Value

$ (36)

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Holdco Sands Intermediate, LLC Maturity Date 11/23/2028 Industry Aerospace and Defense Current Coupon 10.17% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

^[5],[6]

Nov. 23, 2028

^[5],[6]

Industry

Aerospace and Defense

^[5],[6]

Current Coupon

10.17%

^[5],[6]

10.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6]

Basis point spread above index, Amount

600.00%

^[5],[6]

600.00%

^[5],[6]

Par / Shares

$ 4,963

^[5],[6],[7]

Cost

4,872

^[5],[6]

Fair Value

$ 4,863

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% e Commission Financial Services, Inc, (Revolver) Maturity Date 10/05/2023 Industry Banking, Finance, Insurance & Real Estate Current Coupon 7.63% Basis Point Spread Above Index 1ML+500

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^[13],[15]

Oct. 05, 2023

^[13],[15]

Industry

Banking, Finance, Insurance & Real Estate

^[13],[15]

Current Coupon

7.63%

^[13],[15]

7.63%

^[13],[15]

Basis point spread above index, Percentage

1M L+500

^{[13],[15],[16]}

Basis point spread above index, Amount

500.00%

^{[13],[15],[16]}

500.00%

^{[13],[15],[16]}

Par / Shares

$ 2,500

^[13],[15]

Cost

2,500

^[13],[15]

Fair Value

$ 2,500

^{[7],[13],[15]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% e Commission Financial Services, Inc, Maturity Date 10/05/2023, Banking, Finance, Insurance & Real Estate, Current Coupon 7.63%, Basis Point Spread Above Index 1ML+500

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^[5],[6],[15]

Oct. 05, 2023

^[5],[6],[15]

Industry

Banking, Finance, Insurance & Real Estate

^[5],[6],[15]

Current Coupon

7.63%

^[5],[6],[15]

7.63%

^[5],[6],[15]

Basis point spread above index, Percentage

1M L+500

^{[5],[6],[15],[16]}

Basis point spread above index, Amount

500.00%

^{[5],[6],[15],[16]}

500.00%

^{[5],[6],[15],[16]}

Par / Shares

$ 5,837

^[5],[6],[15]

Cost

5,837

^[5],[6],[15]

Fair Value

$ 5,837

^{[5],[6],[7],[15]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7%, Dr.Squatch,LLC (Revolver). Maturity Date 08/31/2027 Personal Products

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^{[5],[6],[13],[14]}

Aug. 31, 2027

^{[5],[6],[13],[14]}

Industry

Personal Products

^{[5],[6],[13],[14]}

Par / Shares

$ 2,236

^{[5],[6],[13],[14]}

Fair Value

$ (34)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7%, ECM Industries, LLC (Revolver) Maturity Date 12/23/2025 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.00% Basis Point Spread Above Index 1ML+475

Schedule Of Investments [Line Items]

Maturity

Dec. 23, 2025

^[5],[6]

Dec. 23, 2025

^[5],[6]

Industry

Electronic Equipment, Instruments, and Components

^[5],[6]

Current Coupon

8.00%

^[5],[6]

8.00%

^[5],[6]

Basis point spread above index, Percentage

1M L+475

^[5],[6],[16]

Basis point spread above index, Amount

475.00%

^[5],[6],[16]

475.00%

^[5],[6],[16]

Par / Shares

$ 514

^[5],[6]

Cost

514

^[5],[6]

Fair Value

$ 490

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7%, Lash OpCo, LLC (Revolver), Maturity 08/16/2026, Personal Products,Current Coupon 9.38% Basis Point Spread Above Index 1M L+700

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^[5],[6],[13]

Aug. 16, 2026

^[5],[6],[13]

Industry

Personal Products

^[5],[6],[13]

Current Coupon

9.38%

^[5],[6],[13]

9.38%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+700

^[5],[6],[13]

Basis point spread above index, Amount

700.00%

^[5],[6],[13]

700.00%

^[5],[6],[13]

Par / Shares

$ 599

^[5],[6],[13]

Cost

599

^[5],[6],[13]

Fair Value

587

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6% Total

Schedule Of Investments [Line Items]

Cost

10,297

^[5],[6],[17]

Fair Value

9,945

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[13],[17]}

Par / Shares

2,018

^{[5],[6],[12],[13],[17]}

Cost

2,018

^{[5],[6],[12],[13],[17]}

Fair Value

2,537

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

835

^{[5],[6],[13],[17]}

Cost

835

^{[5],[6],[13],[17]}

Fair Value

976

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[13],[17]}

Par / Shares

733

^{[5],[6],[13],[17]}

Cost

733

^{[5],[6],[13],[17]}

Fair Value

1,042

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[5],[6],[13],[17]}

Par / Shares

1,327

^{[5],[6],[13],[17]}

Cost

133

^{[5],[6],[13],[17]}

Fair Value

$ 144

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, Signature CR Intermediate Holdco, Inc, Industry Commercial Services & Supplies, Current Coupon 12.00%

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[13],[17]}

Current Coupon

12.00%

^{[5],[6],[13],[17]}

12.00%

^{[5],[6],[13],[17]}

Par / Shares

$ 1,323

^{[5],[6],[13],[17]}

Cost

1,323

^{[5],[6],[13],[17]}

Fair Value

1,674

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[5],[6],[13],[15],[17],[20]}

Par / Shares

409

^{[5],[6],[13],[15],[17],[20]}

Cost

409

^{[5],[6],[13],[15],[17],[20]}

Fair Value

116

^{[5],[6],[7],[13],[15],[17],[20]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, TWD Parent Holdings, LLC (The Vertex Companies, LLC), Industry Construction & Engineering

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[5],[6],[13],[17]}

Par / Shares

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Fair Value

$ 40

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, UniTek Global Services, Inc, Industry Telecommunications, Current Coupon 13.50%

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Current Coupon

13.50%

^{[5],[6],[13],[17]}

13.50%

^{[5],[6],[13],[17]}

Par / Shares

$ 1,047,317

^{[5],[6],[13],[17]}

Cost

$ 670

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, UniTek Global Services, Inc. - Senior Preferred Equity, Industry Telecommunications, Current Coupon 19.00%

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Current Coupon

19.00%

^{[5],[6],[13],[17]}

19.00%

^{[5],[6],[13],[17]}

Par / Shares

$ 448,851

^{[5],[6],[13],[17]}

Cost

$ 449

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, UniTek Global Services, Inc.-Super Senior Preferred Equity, Industry Telecommunications, Current Coupon 20.00%

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Current Coupon

20.00%

^{[5],[6],[13],[17]}

20.00%

^{[5],[6],[13],[17]}

Par / Shares

$ 343,861

^{[5],[6],[13],[17]}

Cost

344

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Total

Schedule Of Investments [Line Items]

Cost

882,570

^[5],[6]

Fair Value

$ 893,249

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controllled Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% LAV Gear Holdings Inc. Maturity 10/31/2024 Capital Equipment Current Coupon 9.95% Basis Point Spread Above Index 1M L+750

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[5],[6]

Oct. 31, 2024

^[5],[6]

Industry

Capital Equipment

^[5],[6]

Current Coupon

9.95%

^[5],[6]

9.95%

^[5],[6]

Basis point spread above index, Percentage

1M L+750

^[5],[6]

Basis point spread above index, Amount

750.00%

^[5],[6]

750.00%

^[5],[6]

Par / Shares

$ 9,565

^[5],[6]

Cost

9,542

^[5],[6]

Fair Value

9,345

^[5],[6]

Investment, Identifier [Axis]: Liabilities in Excess of Other Assets—(130.0)%

Schedule Of Investments [Line Items]

Fair Value

(688,650)

^[5],[6],[7]

Investment, Identifier [Axis]: Liabilities in Excess of Other Assets—(78.6)%

Schedule Of Investments [Line Items]

Fair Value

(514,124)

^[2],[3],[4]

Investment, Identifier [Axis]: Net Assets—100.0%

Schedule Of Investments [Line Items]

Fair Value

$ 653,605

^[2],[3],[4]

$ 527,092

^[5],[6],[7]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME ANTERIAD, LLC (F/K/A MERITDIRECT, LLC) MATURITY 5/23/2024 MEDIA Advertising, Printing & Publishing Current Coupon 9.67% Basis Point Spread Above Index 3ML+550

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

Industry

Media: Advertising, Printing & Publishing

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,284

Cost

5,208

Fair Value

$ 5,284

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME DRS HOLDINGS III, INC. MATURITY 11/3/2025 CONSUMER GOODSDurable Current Coupon 8.87% Basis Point Spread Above Index 1 M L+575

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

Industry

Consumer Goods: Durable

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 15,179

Cost

15,103

Fair Value

$ 14,693

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME MARKETPLACE EVENTS, LLC - SUPER PRIORITY FIRST LIEN TERM LOAN MATURITY 9/30/2025 MEDIADiversified and Production 8.19% Basis Point Spread Above Index 1 M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Media: Diversified and Production

Current Coupon

8.19%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 647

Cost

647

Fair Value

$ 647

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME MARKETPLACE EVENTS, LLC - SUPER PRIORITY FIRST LIEN UNFUNDED TERM LOAN MATURITY 9/30/2025 MEDIADiversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Media: Diversified and Production

Par / Shares

$ 589

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME MARKETPLACE EVENTS, LLC MATURITY 9/30/2026 MEDIADiversified and Production 8.19% Basis Point Spread Above Index 1 M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

Industry

Media: Diversified and Production

Current Coupon

8.19%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 4,837

Cost

3,527

Fair Value

$ 4,837

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME NEW MILANI GROUP LLC MATURITY 6/6/2024 CONSUMER GOODSNon- Durable 7.75% Basis Point Spread Above Index 3 M L+500

Schedule Of Investments [Line Items]

Maturity

Jun. 06, 2024

Industry

Consumer Goods: Non-Durable

Current Coupon

7.75%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 14,363

Cost

14,319

Fair Value

$ 14,111

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME PLAYPOWER, INC. MATURITY 5/8/2026 CONSUMER GOODSDurable 9.17% Basis Point Spread Above Index 3 M L+550

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

Industry

Consumer Goods: Durable

Current Coupon

9.17%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 2,580

Cost

2,500

Fair Value

$ 2,309

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME THE INFOSOFT GROUP, LLC MATURITY 9/16/2024 MEDIABroadcasting and Subscription Current Coupon 8.47% Basis Point Spread Above Index 3 M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 16, 2024

Industry

Media: Broadcasting and Subscription

Current Coupon

8.47%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 12,957

Cost

12,952

Fair Value

$ 12,859

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME TPC CANADA PARENT, INC. AND TPC US PARENT, LLC MATURITY 11/24/2025 CONSUMER GOODSNon- Durable Current Coupon 8.30% Basis Point Spread Above Index 3 M L+475

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

Industry

Consumer Goods: Non-Durable

Current Coupon

8.30%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 8,744

Cost

8,604

Fair Value

$ 8,482

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL SECOND LIEN SECURED DEBT - 5.2% ISSUER NAME INVENTUS POWER, INC. MATURITY 9/29/2024 CONSUMER GOODSDurable Current Coupon 12.17% Basis Point Spread Above Index 3 M L+850

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2024

Industry

Consumer Goods: Durable

Current Coupon

12.17%

Basis point spread above index, Percentage

3M L+850

^[22]

Basis point spread above index, Amount

850.00%

^[22]

850.00%

^[22]

Par / Shares

$ 3,000

Cost

2,963

Fair Value

2,955

^[23]

Investment, Identifier [Axis]: Related Party PSSL Cash and Cash Equivalents (as restated)

Schedule Of Investments [Line Items]

Cost

30,152

Fair Value

30,152

^[23]

Investment, Identifier [Axis]: Related Party PSSL Cash and Cash Equivalents Issuer Name BlackRock Federal FD Institutional 30 (as restated)

Schedule Of Investments [Line Items]

Cost

30,152

Fair Value

30,152

^[23]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 0.4% Issuer Name New MPE Holdings, LLC Maturity 9/29/2024 Media: Diversified and Production

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

Fair Value

139

^[23]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 3.9% - Issuer Name New MPE Holdings, LLC, Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

Fair Value

$ 495

^[24]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 3.9% - Issuer Name New Walker Edison Furniture - Common Equity, Industry Wholesale

Schedule Of Investments [Line Items]

Wholesale

$ 36

3,393

1,766

^[24]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 3.9% - Total

Schedule Of Investments [Line Items]

Cost

3,393

Fair Value

2,261

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - %

Schedule Of Investments [Line Items]

Cost

767,316

Fair Value

$ 751,628

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Ad.net Acquisition, LLC Maturity 5/6/2026 Media Current Coupon 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

May 06, 2026

Industry

Media

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 8,888

Cost

8,788

Fair Value

$ 8,821

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Alpine Acquisition Corp II Maturity 11/30/2026 Containers and Packaging Current Coupon 8.22% Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Nov. 30, 2026

Industry

Containers and Packaging

Current Coupon

8.22%

Basis point spread above index, Percentage

SOFR+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 9,975

Cost

9,790

Fair Value

$ 9,576

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Altamira Technologies, LLC Maturity 7/24/2025 Business Services Current Coupon 10.81% Basis Point Spread Above Index 3M L+800

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

Industry

Business Services

Current Coupon

10.81%

Basis point spread above index, Percentage

3M L+800

^[22]

Basis point spread above index, Amount

800.00%

^[22]

800.00%

^[22]

Par / Shares

$ 5,225

Cost

5,113

Fair Value

$ 5,042

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name American Insulated Glass, LLC Maturity 12/21/2023 Building Products Current Coupon 7.79% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2023

Industry

Building Products

Current Coupon

7.79%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 4,883

Cost

4,851

Fair Value

$ 4,883

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Any Hour Services Maturity 7/21/2027 Professional Services Current Coupon 8.33% Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

Industry

Professional Services

Current Coupon

8.33%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 3,510

Cost

3,441

Fair Value

$ 3,440

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Apex Service Partners, LLC Maturity 7/31/2025 Diversified Consumer Services Current Coupon 6.72% Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

6.72%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 1,010

Cost

1,010

Fair Value

$ 1,005

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Apex Service Partners, LLC Term Loan B Maturity 7/31/2025 Diversified Consumer Services Current Coupon 9.67% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 2,202

Cost

2,202

Fair Value

$ 2,191

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Apex Service Partners, LLC Term Loan C Maturity 7/31/2025 Diversified Consumer Services Current Coupon 7.86% Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

7.86%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 11,115

Cost

11,050

Fair Value

$ 11,059

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Applied Technical Services, LLC Maturity 12/29/2026 Commercial Services & Supplies Current Coupon 8.76% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

Industry

Commercial Services & Supplies

Current Coupon

8.76%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 8,421

Cost

8,317

Fair Value

$ 8,211

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Arcfield Acquisition Corp. Maturity 3/7/2028 Aerospace and Defense Current Coupon 8.99% Basis Point Spread Above Index SOFR + 575

Schedule Of Investments [Line Items]

Maturity

Mar. 07, 2028

Industry

Aerospace and Defense

Current Coupon

8.99%

Basis point spread above index, Percentage

SOFR + 575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 4,677

Cost

4,588

Fair Value

$ 4,583

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Beta Plus Technologies, Inc. Maturity 7/1/2029 Business Services Current Coupon 7.76% Basis Point Spread Above Index SOFR + 525

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

Industry

Business Services

Current Coupon

7.76%

Basis point spread above index, Percentage

SOFR + 525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 5,000

Cost

4,903

Fair Value

$ 4,900

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Blackhawk Industrial Distribution, Inc. Maturity 9/17/2024 Distributors Current Coupon 8.62% Basis Point Spread Above Index SOFR + 500

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

Industry

Distributors

Current Coupon

8.62%

Basis point spread above index, Percentage

SOFR + 500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 15,293

Cost

15,102

Fair Value

$ 14,956

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Broder Bros., Co. Maturity 12/2/2022 Consumer Products Current Coupon 7.39% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2022

Industry

Consumer Products

Current Coupon

7.39%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 2,417

Cost

2,417

Fair Value

$ 2,417

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name By Light Professional IT Services, LLC Maturity 5/16/2024 High Tech Industries Current Coupon 9.20% Basis Point Spread Above Index 1M L+662

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

Industry

High Tech Industries

Current Coupon

9.20%

Basis point spread above index, Percentage

1M L+662

^[22]

Basis point spread above index, Amount

662.00%

^[22]

662.00%

^[22]

Par / Shares

$ 14,822

Cost

14,771

Fair Value

$ 14,674

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name CF512, Inc. Maturity 8/20/2026 Media Current Coupon 9.08% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

Industry

Media

Current Coupon

9.08%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,950

Cost

4,866

Fair Value

$ 4,876

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name CHA Holdings, Inc. Maturity 4/10/2025 Construction and Engineering Current Coupon 8.17% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

Industry

Construction and Engineering

Current Coupon

8.17%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 5,557

Cost

5,487

Fair Value

$ 5,557

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Cadence Aerospace, LLC Maturity 11/14/2023 Aerospace and Defense Current Coupon 11.31% (PIK 11.31%) Basis Point Spread Above Index 3M L+325

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

Industry

Aerospace and Defense

Current Coupon

11.31%

Basis point spread above index, Percentage

3M L+325

^[22]

Basis point spread above index, Amount

325.00%

^[22]

325.00%

^[22]

Par / Shares

$ 12,412

Cost

12,385

Fair Value

$ 12,288

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Cartessa Aesthetics, LLC Maturity 5/13/2028 Distributors Current Coupon 9.55% Basis Point Spread Above Index SOFR + 600

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

Industry

Distributors

Current Coupon

9.55%

Basis point spread above index, Percentage

SOFR + 600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 6,484

Cost

6,359

Fair Value

$ 6,386

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Challenger Performance Optimization, Inc. Maturity 8/31/2023 Business Services Current Coupon 9.27% (PIK 1.00%) Basis Point Spread Above Index 1M L+575

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2023

Industry

Business Services

Current Coupon

9.27%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 9,271

Cost

9,247

Fair Value

$ 8,993

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Connatix Buyer, Inc. Maturity 7/13/2027 Media Current Coupon 8.42% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

Industry

Media

Current Coupon

8.42%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 3,907

Cost

3,842

Fair Value

$ 3,810

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Crane 1 Services, Inc. Maturity 8/16/2027 Commercial Services & Supplies Current Coupon 9.39% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Commercial Services & Supplies

Current Coupon

9.39%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 2,110

Cost

2,084

Fair Value

$ 2,089

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name DRI Holding Inc. Maturity 12/21/2028 Media Current Coupon 8.37% Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2028

Industry

Media

Current Coupon

8.37%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 1,832

Cost

1,680

Fair Value

$ 1,643

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Douglas Products and Packaging Company LLC Maturity 10/19/2022 Chemicals, Plastics and Rubber Current Coupon 8.87% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 8,655

Cost

8,653

Fair Value

$ 8,655

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Douglas Sewer Intermediate, LLC Maturity 10/19/2022 Chemicals, Plastics and Rubber Current Coupon 8.87% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 7,248

Cost

7,246

Fair Value

$ 7,248

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Dr. Squatch, LLC Maturity 8/31/2027 Personal Products Current Coupon 9.42% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

Industry

Personal Products

Current Coupon

9.42%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 14,862

Cost

14,610

Fair Value

$ 14,639

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Duraco Specialty Tapes LLC Maturity 6/30/2024 Containers and Packaging Current Coupon 8.62% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

Industry

Containers and Packaging

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 10,278

Cost

10,151

Fair Value

$ 10,031

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name ECL Entertainment, LLC Maturity 5/1/2028 Hotels, Restaurants and Leisure Current Coupon 10.62% Basis Point Spread Above Index 3M L+750

Schedule Of Investments [Line Items]

Maturity

May 01, 2028

Industry

Hotels, Restaurants and Leisure

Current Coupon

10.62%

Basis point spread above index, Percentage

3M L+750

^[22]

Basis point spread above index, Amount

750.00%

^[22]

750.00%

^[22]

Par / Shares

$ 2,621

Cost

2,598

Fair Value

$ 2,581

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name ECM Industries, LLC Maturity 12/23/2025 Electronic Equipment, Instruments, and Components Current Coupon 7.82% Basis Point Spread Above Index 3M L+475

Schedule Of Investments [Line Items]

Maturity

Dec. 23, 2025

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

7.82%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 4,974

Cost

4,974

Fair Value

$ 4,738

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Exigo Intermediate II, LLC Maturity 3/15/2027 Software Current Coupon 8.87% Basis Point Spread Above Index 1M L+575

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

Industry

Software

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 12,935

Cost

12,759

Fair Value

$ 12,644

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Fairbanks Morse Defense Maturity 6/17/2028 Aerospace and Defense Current Coupon 8.39% Basis Point Spread Above Index 3M L+475

Schedule Of Investments [Line Items]

Maturity

Jun. 17, 2028

Industry

Aerospace and Defense

Current Coupon

8.39%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 10,300

Cost

10,238

Fair Value

$ 9,528

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Gantech Acquisition Corp. Maturity 5/14/2026 IT Services Current Coupon 9.37% Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

Industry

IT Services

Current Coupon

9.37%

Basis point spread above index, Percentage

1M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 14,638

Cost

14,427

Fair Value

$ 14,199

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Global Holdings InterCo LLC Maturity 3/16/2026 Diversified Financial Services Current Coupon 8.74% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

Industry

Diversified Financial Services

Current Coupon

8.74%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 3,904

Cost

3,888

Fair Value

$ 3,728

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Graffiti Buyer, Inc. Maturity 8/10/2027 Trading Companies & Distributors Current Coupon 9.17% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

Industry

Trading Companies & Distributors

Current Coupon

9.17%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 2,369

Cost

2,320

Fair Value

$ 2,274

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name HW Holdco, LLC Maturity 12/10/2024 Media Current Coupon 6.00% Basis Point Spread Above Index 6M L+575

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

Industry

Media

Current Coupon

6.00%

Basis point spread above index, Percentage

6M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 3,052

Cost

3,006

Fair Value

$ 3,014

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Hancock Roofing and Construction L.L.C. Maturity 12/31/2026 Insurance Current Coupon 8.67% Basis Point Spread Above Index 1M L+500

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

Industry

Insurance

Current Coupon

8.67%

Basis point spread above index, Percentage

1M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 2,392

Cost

2,347

Fair Value

$ 2,356

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Holdco Sands Intermediate, LLC Maturity 11/23/2028 Aerospace and Defense Current Coupon 10.17% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

Industry

Aerospace and Defense

Current Coupon

10.17%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,963

Cost

4,874

Fair Value

$ 4,863

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name IDC Infusion Services, Inc. Maturity 12/30/2026 Healthcare Equipment and Supplies 10.20% Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

Dec. 30, 2026

Industry

Healthcare Equipment and Supplies

Current Coupon

10.20%

Basis point spread above index, Percentage

SOFR+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 9,950

Cost

9,833

Fair Value

$ 9,502

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name ITI Holdings, Inc. Maturity 3/3/2028 IT Services 8.67% Basis Point Spread Above Index SOFR + 550

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

Industry

IT Services

Current Coupon

8.67%

Basis point spread above index, Percentage

SOFR + 550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 3,980

Cost

3,917

Fair Value

$ 3,900

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Icon Partners III, LP Maturity 5/11/2028 Automobiles Current Coupon 7.55% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

May 11, 2028

Industry

Automobiles

Current Coupon

7.55%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 2,327

Cost

1,997

Fair Value

$ 1,701

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Imagine Acquisitionco, LLC Maturity 11/15/2027 Software 8.42% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

Industry

Software

Current Coupon

8.42%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,364

Cost

5,261

Fair Value

$ 5,230

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Inception Fertility Ventures, LLC Maturity 12/7/2023 Healthcare Providers and Services 8.55% Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

Dec. 07, 2023

Industry

Healthcare Providers and Services

Current Coupon

8.55%

Basis point spread above index, Percentage

SOFR+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 16,620

Cost

16,309

Fair Value

$ 16,454

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Integrative Nutrition, LLC Maturity 9/29/2023 Diversified Consumer Services 8.42% Basis Point Spread Above Index 3M L+475

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2023

Industry

Diversified Consumer Services

Current Coupon

8.42%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 11,187

Cost

11,168

Fair Value

$ 10,963

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Integrity Marketing Acquisition, LLC Maturity 8/27/2025 Insurance 7.58% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2025

Industry

Insurance

Current Coupon

7.58%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,966

Cost

5,885

Fair Value

$ 5,906

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name K2 Pure Solutions NoCal, L.P. Maturity 12/20/2023 Chemicals, Plastics and Rubber 11.12% Basis Point Spread Above Index 1M L+800

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

Industry

Chemicals, Plastics and Rubber

Current Coupon

11.12%

Basis point spread above index, Percentage

1M L+800

^[22]

Basis point spread above index, Amount

800.00%

^[22]

800.00%

^[22]

Par / Shares

$ 19,250

Cost

19,103

Fair Value

$ 19,250

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Kinetic Purchaser, LLC Maturity 11/10/2027 Personal Products 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

Industry

Personal Products

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 16,830

Cost

16,451

Fair Value

$ 16,494

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name LAV Gear Holdings, Inc. Maturity 10/31/2024 Capital Equipment 9.70% (PIK 2.00%) Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

Industry

Capital Equipment

Current Coupon

9.70%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 10,578

Cost

10,539

Fair Value

$ 10,335

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Lash OpCo, LLC Maturity 2/18/2027 Personal Products 11.17% Basis Point Spread Above Index 3M L+700

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

Industry

Personal Products

Current Coupon

11.17%

Basis point spread above index, Percentage

3M L+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 14,355

Cost

14,074

Fair Value

$ 14,068

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Lightspeed Buyer Inc. Maturity 2/3/2026 Healthcare Providers and Services 9.04% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

Industry

Healthcare Providers and Services

Current Coupon

9.04%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 10,598

Cost

10,428

Fair Value

$ 10,254

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Lucky Bucks, LLC Maturity 7/20/2027 Hotel, Gaming and Leisure 8.31% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

Industry

Hotel, Gaming and Leisure

Current Coupon

8.31%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 4,331

Cost

4,258

Fair Value

$ 3,183

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name MBS Holdings, Inc. Maturity 4/16/2027 Internet Software and Services 8.56% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

Industry

Internet Software and Services

Current Coupon

8.56%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 7,406

Cost

7,296

Fair Value

$ 7,332

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name MDI Buyer, Inc. Maturity 7/25/2028 Chemicals, Plastics and Rubber 8.98% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.98%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 5,000

Cost

4,902

Fair Value

$ 4,900

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Magenta Buyer, LLC Maturity 7/31/2028 Software 7.87% Basis Point Spread Above Index 1M L+475

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2028

Industry

Software

Current Coupon

7.87%

Basis point spread above index, Percentage

1M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 2,695

Cost

2,539

Fair Value

$ 2,425

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Mars Acquisition Holdings Corp. Maturity 5/14/2026 Media 8.62% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

Industry

Media

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 9,900

Cost

9,782

Fair Value

$ 9,851

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Meadowlark Acquirer, LLC Maturity 12/10/2027 Professional Services 9.17% Basis Point Spread Above Index 3M L+650

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

Industry

Professional Services

Current Coupon

9.17%

Basis point spread above index, Percentage

3M L+650

^[22]

Basis point spread above index, Amount

650.00%

^[22]

650.00%

^[22]

Par / Shares

$ 2,396

Cost

2,353

Fair Value

$ 2,372

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Mission Critical Electronics, Inc. Maturity 3/28/2024 Capital Equipment 8.70% Basis Point Spread Above Index SOFR+500

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

Industry

Capital Equipment

Current Coupon

8.70%

Basis point spread above index, Percentage

SOFR+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 5,829

Cost

5,817

Fair Value

$ 5,759

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Municipal Emergency Services, Inc. Maturity 9/28/2027 Distributors 8.67% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

Industry

Distributors

Current Coupon

8.67%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 3,465

Cost

3,405

Fair Value

$ 3,264

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name NBH Group LLC Maturity 8/19/2026 Healthcare, Education & Childcare 7.80% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

Industry

Healthcare, Education & Childcare

Current Coupon

7.80%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 10,820

Cost

10,641

Fair Value

$ 10,820

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name OIS Management Services, LLC Maturity 7/9/2026 Healthcare Equipment and Supplies 8.40% Basis Point Spread Above Index SOFR+475

Schedule Of Investments [Line Items]

Maturity

Jul. 09, 2026

Industry

Healthcare Equipment and Supplies

Current Coupon

8.40%

Basis point spread above index, Percentage

SOFR+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 5,060

Cost

4,991

Fair Value

$ 5,060

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name One Stop Mailing, LLC Maturity 5/7/2027 Air Freight and Logistics 9.37% Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

Industry

Air Freight and Logistics

Current Coupon

9.37%

Basis point spread above index, Percentage

1M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 14,598

Cost

14,353

Fair Value

$ 14,160

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Output Services Group, Inc. Maturity 3/27/2024 Business Services 9.80% Basis Point Spread Above Index 3M L+425

Schedule Of Investments [Line Items]

Maturity

Mar. 27, 2024

Industry

Business Services

Current Coupon

9.80%

Basis point spread above index, Percentage

3M L+425

^[22]

Basis point spread above index, Amount

425.00%

^[22]

425.00%

^[22]

Par / Shares

$ 7,682

Cost

7,676

Fair Value

$ 5,838

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Owl Acquisition, LLC Maturity 2/4/2028 Professional Services 8.41% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

Industry

Professional Services

Current Coupon

8.41%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 3,990

Cost

3,918

Fair Value

$ 3,890

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Ox Two, LLC Maturity 5/18/2026 Construction and Building 9.81% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

Industry

Construction and Building

Current Coupon

9.81%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,925

Cost

4,866

Fair Value

$ 4,827

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name PH Beauty Holdings III, Inc. Maturity 9/29/2025 Wholesale 8.07% Basis Point Spread Above Index 1M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2025

Industry

Wholesale

Current Coupon

8.07%

Basis point spread above index, Percentage

1M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 9,593

Cost

9,234

Fair Value

$ 7,674

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name PL Acquisitionco, LLC Maturity 11/9/2027 Textiles, Apparel and Luxury Goods 9.62% Basis Point Spread Above Index 1M L+650

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

Industry

Textiles, Apparel and Luxury Goods

Current Coupon

9.62%

Basis point spread above index, Percentage

1M L+650

^[22]

Basis point spread above index, Amount

650.00%

^[22]

650.00%

^[22]

Par / Shares

$ 8,238

Cost

8,111

Fair Value

$ 8,032

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Plant Health Intermediate, Inc. Maturity 10/19/2022 Chemicals, Plastics and Rubber 8.87% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 1,562

Cost

1,561

Fair Value

$ 1,562

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Pragmatic Institute, LLC Maturity 7/6/2028 Education 9.30% Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

Industry

Education

Current Coupon

9.30%

Basis point spread above index, Percentage

SOFR+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 11,250

Cost

11,056

Fair Value

$ 11,138

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Quantic Electronics, LLC - Unfunded Term Loan Maturity 11/19/2026 Aerospace and Defense Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[25]

Nov. 19, 2026

^[25]

Industry

Aerospace and Defense

^[25]

Par / Shares

$ 1,888

^[25]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Quantic Electronics, LLC Maturity 11/19/2026 Aerospace and Defense 8.41% Basis Point Spread Above Index 1M L+625

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

Industry

Aerospace and Defense

Current Coupon

8.41%

Basis point spread above index, Percentage

1M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 4,845

Cost

4,755

Fair Value

$ 4,729

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Reception Purchaser, LLC Maturity 2/28/2028 Air Freight and Logistics 9.13% Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Feb. 28, 2028

Industry

Air Freight and Logistics

Current Coupon

9.13%

Basis point spread above index, Percentage

SOFR+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,975

Cost

4,904

Fair Value

$ 4,751

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Recteq, LLC Maturity 1/29/2026 Leisure Products 9.92% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

Industry

Leisure Products

Current Coupon

9.92%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,925

Cost

4,856

Fair Value

$ 4,753

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Research Now Group, LLC and Dynata, LLC Maturity 12/20/2024 Diversified Consumer Services 8.84% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Diversified Consumer Services

Current Coupon

8.84%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 12,564

Cost

12,354

Fair Value

$ 11,291

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name STV Group Incorporated Maturity 12/11/2026 Construction and Building 8.37% Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

Industry

Construction and Building

Current Coupon

8.37%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 9,075

Cost

9,011

Fair Value

$ 8,985

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Sales Benchmark Index LLC Maturity 1/3/2025 Industry Professional Services 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

Industry

Professional Services

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 5,013

Cost

4,960

Fair Value

$ 4,963

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Sargent & Greenleaf Inc. Maturity 12/20/2024 Wholesale 8.62% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Wholesale

Current Coupon

8.62%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,240

Cost

5,202

Fair Value

$ 5,187

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Schlesinger Global, Inc. Maturity 7/14/2025 Business Services 10.27% (PIK 0.50%) Basis Point Spread Above Index SOFR+500

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Business Services

Current Coupon

10.27%

Basis point spread above index, Percentage

SOFR+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 11,847

Cost

11,829

Fair Value

$ 11,551

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Sigma Defense Systems, LLC Maturity 12/18/2025 Aerospace and Defense 12.17% Basis Point Spread Above Index 1M L+850

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

Aerospace and Defense

Current Coupon

12.17%

Basis point spread above index, Percentage

1M L+850

^[22]

Basis point spread above index, Amount

850.00%

^[22]

850.00%

^[22]

Par / Shares

$ 14,716

Cost

14,411

Fair Value

$ 14,421

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Smile Brands Inc. Maturity 10/14/2025 Healthcare and Pharmaceuticals 7.05% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

7.05%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 11,917

Cost

11,807

Fair Value

$ 11,470

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Solutionreach, Inc. Maturity 1/17/2024 Healthcare and Pharmaceuticals 8.87% Basis Point Spread Above Index 1M L+575

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Healthcare and Pharmaceuticals

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 5,647

Cost

5,625

Fair Value

$ 5,511

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Spendmend Holdings LLC Maturity 3/1/2028 Healthcare Technology 8.63% Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

8.63%

Basis point spread above index, Percentage

SOFR+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 2,956

Cost

2,916

Fair Value

$ 2,873

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC) Maturity 8/16/2027 Aerospace and Defense 8.73% Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Current Coupon

8.73%

Basis point spread above index, Percentage

SOFR+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 14,888

Cost

14,623

Fair Value

$ 14,649

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name TVC Enterprises, LLC Maturity 3/26/2026 Diversified Consumer Services Current Coupon 8.87% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Mar. 26, 2026

Industry

Diversified Consumer Services

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 14,952

Cost

14,871

Fair Value

$ 14,578

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name TWS Acquisition Corporation Maturity 6/16/2025 Diversified Consumer Services Current Coupon 8.76% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

Industry

Diversified Consumer Services

Current Coupon

8.76%

Basis point spread above index, Percentage

3M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 5,468

Cost

5,450

Fair Value

$ 5,441

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Teneo Holdings LLC Maturity 7/18/2025 Business Services Current Coupon 8.38% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

Industry

Business Services

Current Coupon

8.38%

Basis point spread above index, Percentage

3M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 2,786

Cost

2,757

Fair Value

$ 2,623

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name The Aegis Technologies Group, LLC Maturity 10/31/2025 Aerospace and Defense Current Coupon 9.55% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

Industry

Aerospace and Defense

Current Coupon

9.55%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 5,659

Cost

5,600

Fair Value

$ 5,603

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name The Bluebird Group LLC Maturity 7/27/2026 Professional Services Current Coupon 10.67% Basis Point Spread Above Index 1M L+700

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

Industry

Professional Services

Current Coupon

10.67%

Basis point spread above index, Percentage

1M L+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 1,707

Cost

1,679

Fair Value

$ 1,724

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name The Vertex Companies, LLC Maturity 8/30/2027 Construction and Engineering Current Coupon 8.62% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

Industry

Construction and Engineering

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,578

Cost

5,479

Fair Value

$ 5,550

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Tyto Athene, LLC (New Issue) Maturity 4/1/2028 IT Services Current Coupon 7.76% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

Industry

IT Services

Current Coupon

7.76%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 15,550

Cost

15,421

Fair Value

$ 14,446

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name UBEO, LLC Maturity 4/3/2024 Capital Equipment Current Coupon 8.17% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

Industry

Capital Equipment

Current Coupon

8.17%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 17,390

Cost

17,305

Fair Value

$ 17,129

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Unique Indoor Comfort, LLC Maturity 5/24/2027 Home and Office Furnishings, Housewares Current Coupon 8.95% Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

Industry

Home and Office Furnishings, Housewares

Current Coupon

8.95%

Basis point spread above index, Percentage

SOFR+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 4,975

Cost

4,880

Fair Value

$ 4,866

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Walker Edison Furniture Company LLC Maturity 3/31/2027 Wholesale Current Coupon 12.42%(PIK 3.0%) Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

12.42%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 12,684

Cost

12,438

Fair Value

$ 8,473

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Wildcat Buyerco, Inc. Maturity 2/27/2026 Electronic Equipment, Instruments, and Components Current Coupon 9.45% Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

9.45%

Basis point spread above index, Percentage

SOFR+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 8,546

Cost

8,506

Fair Value

$ 8,261

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Zips Car Wash, LLC Maturity 3/1/2024 Automobiles Current Coupon 10.35% Basis Point Spread Above Index 3M L+725

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

Industry

Automobiles

Current Coupon

10.35%

Basis point spread above index, Percentage

3M L+725

^[22]

Basis point spread above index, Amount

725.00%

^[22]

725.00%

^[22]

Par / Shares

$ 16,957

Cost

16,711

Fair Value

16,536

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5% Total

Schedule Of Investments [Line Items]

Cost

801,215

Fair Value

$ 783,598

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name A1 Garage Merger Sub, LLC, Maturity 12/22/2028, Industry Commercial Services & Supplies, Current Coupon 11.84%, Basis Point Spread Above Index SOFR+660

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

Industry

Commercial Services & Supplies

Current Coupon

11.84%

Basis point spread above index, Percentage

SOFR+660

^[26]

Basis point spread above index, Amount

660.00%

^[26]

Par / Shares

$ 2,940

Cost

2,886

Fair Value

$ 2,925

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Ad.net Acquisition, LLC, Maturity 5/7/2026, Industry Media, Current Coupon 11.65%, Basis Point Spread Above Index SOFR+626

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

Industry

Media

Current Coupon

11.65%

Basis point spread above index, Percentage

SOFR+626

^[26]

Basis point spread above index, Amount

626.00%

^[26]

Par / Shares

$ 8,798

Cost

8,723

Fair Value

$ 8,754

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Alpine Acquisition Corp II, Maturity 11/30/2026, Industry Containers and Packaging, Current Coupon 11.24%, Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Nov. 30, 2026

Industry

Containers and Packaging

Current Coupon

11.24%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 12,852

Cost

12,535

Fair Value

$ 12,338

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Anteriad Holdings Inc (fka MeritDirect) March 2023, Maturity 5/23/2024, Industry Media: Advertising, Printing & Publishing, Current Coupon 12.04%, Basis Point Spread Above Index SOFR+650

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

Industry

Media: Advertising, Printing & Publishing

Current Coupon

12.04%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 4,875

Cost

4,817

Fair Value

$ 4,814

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC), Maturity 5/23/2024, Industry Media: Advertising, Printing & Publishing, Current Coupon 11.04%, Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

Industry

Media: Advertising, Printing & Publishing

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 5,001

Cost

4,971

Fair Value

$ 4,913

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Any Hour Services, Maturity 7/21/2027, Industry Professional Services, Current Coupon 11.59%, Basis Point Spread Above Index SOFR+585

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

Industry

Professional Services

Current Coupon

11.59%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 7,510

Cost

7,348

Fair Value

$ 7,360

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Apex Service Partners, LLC Term Loan B, Maturity 7/31/2025, Industry Diversified Consumer Services, Current Coupon 11.04%, Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 2,187

Cost

2,187

Fair Value

$ 2,181

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Apex Service Partners, LLC Term Loan C, Maturity 7/31/2025, Industry Diversified Consumer Services, Current Coupon 10.69%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

10.69%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 11,013

Cost

10,972

Fair Value

$ 10,985

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Apex Service Partners, LLC, Maturity 7/31/2025, Industry Diversified Consumer Services, Current Coupon 10.52%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

10.52%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 1,002

Cost

1,002

Fair Value

$ 1,000

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Applied Technical Services, LLC - DDTL Unfunded, Maturity 12/29/2026, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[27]

Industry

Commercial Services & Supplies

^[27]

Par / Shares

$ 194

^[27]

Fair Value

$ (2)

^[24],[27]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Applied Technical Services, LLC, Maturity 12/29/2026, Industry Commercial Services & Supplies, Current Coupon 11.54%, Basis Point Spread Above Index SOFR+615

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

Industry

Commercial Services & Supplies

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+615

^[26]

Basis point spread above index, Amount

615.00%

^[26]

Par / Shares

$ 9,579

Cost

9,475

Fair Value

$ 9,387

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Arcfield Acquisition Corp, Maturity 8/3/2029, Industry Aerospace and Defense, Current Coupon 11.62%, Basis Point Spread Above Index SOFR+625

Schedule Of Investments [Line Items]

Maturity

Aug. 03, 2029

Industry

Aerospace and Defense

Current Coupon

11.62%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 9,218

Cost

9,093

Fair Value

$ 9,126

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Beta Plus Technologies, Inc, Maturity 7/1/2029, Industry Business Services, Current Coupon 11.14%, Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

Industry

Business Services

Current Coupon

11.14%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 4,950

Cost

4,863

Fair Value

$ 4,604

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name BioDerm, Inc, Maturity 1/31/2028, Industry Healthcare and Pharmaceuticals, Current Coupon 11.83%, Basis Point Spread Above Index SOFR+650

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

11.83%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 8,978

Cost

8,874

Fair Value

$ 8,933

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Blackhawk Industrial Distribution, Inc, Maturity 9/17/2026, Industry Distributors, Current Coupon 11.79%, Basis Point Spread Above Index SOFR+640

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

Industry

Distributors

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 15,132

Cost

14,928

Fair Value

$ 14,905

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Broder Bros., Co, Maturity 12/4/2025, Industry Consumer Products, Current Coupon 11.50%, Basis Point Spread Above Index SOFR+626

Schedule Of Investments [Line Items]

Maturity

Dec. 04, 2025

Industry

Consumer Products

Current Coupon

11.50%

Basis point spread above index, Percentage

SOFR+626

^[26]

Basis point spread above index, Amount

626.00%

^[26]

Par / Shares

$ 2,349

Cost

2,349

Fair Value

$ 2,349

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Burgess Point Purchaser Corporation, Maturity 9/26/2029, Industry Automotive, Current Coupon 10.67%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Sep. 26, 2029

Industry

Automotive

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 447

Cost

418

Fair Value

$ 420

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name By Cadence Aerospace, LLC, Maturity 11/14/2023, Industry Aerospace and Defense, Current Coupon 12.04% (PIK 2.00%), Basis Point Spread Above Index SOFR+665

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

Industry

Aerospace and Defense

Current Coupon

12.07%

Basis point spread above index, Percentage

SOFR+665

^[26]

Basis point spread above index, Amount

665.00%

^[26]

Par / Shares

$ 4,011

Cost

4,010

Fair Value

$ 4,011

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name By Cartessa Aesthetics, LLC, Maturity 6/14/2028, Industry Distributors, Current Coupon 11.39%, Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

Industry

Distributors

Current Coupon

11.39%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 9,636

Cost

9,509

Fair Value

$ 9,636

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name By Light Professional IT Services, LLC, Maturity 5/16/2025, Industry High Tech Industries, Current Coupon 12.43%, Basis Point Spread Above Index SOFR+688

Schedule Of Investments [Line Items]

Maturity

May 16, 2025

Industry

High Tech Industries

Current Coupon

12.43%

Basis point spread above index, Percentage

SOFR+688

^[26]

Basis point spread above index, Amount

688.00%

^[26]

Par / Shares

$ 13,821

Cost

13,778

Fair Value

$ 13,579

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name CF512, Inc, Maturity 8/20/2026, Industry Media, Current Coupon 11.60%, Basis Point Spread Above Index SOFR+619

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

Industry

Media

Current Coupon

11.60%

Basis point spread above index, Percentage

SOFR+619

^[26]

Basis point spread above index, Amount

619.00%

^[26]

Par / Shares

$ 6,820

Cost

6,722

Fair Value

$ 6,684

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name CHA Holdings, Inc, Maturity 4/10/2025, Industry Construction and Engineering, Current Coupon 10.15%, Basis Point Spread Above Index SOFR+476

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

Industry

Construction and Engineering

Current Coupon

10.15%

Basis point spread above index, Percentage

SOFR+476

^[26]

Basis point spread above index, Amount

476.00%

^[26]

Par / Shares

$ 5,499

Cost

5,455

Fair Value

$ 5,499

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Challenger Performance Optimization, Inc, Maturity 8/31/2024, Industry Business Services, Current Coupon 12.18% (PIK 1.00%), Basis Point Spread Above Index SOFR+675

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2024

Industry

Business Services

Current Coupon

12.18%

Basis point spread above index, Percentage

SOFR+675

^[26]

Basis point spread above index, Amount

675.00%

^[26]

Par / Shares

$ 9,232

Cost

9,201

Fair Value

$ 8,955

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Confluent Health, LLC, Maturity 10/28/2028, Industry Healthcare and Pharmaceuticals, Current Coupon 9.32%, Basis Point Spread Above Index SOFR+400

Schedule Of Investments [Line Items]

Maturity

Oct. 28, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

9.32%

Basis point spread above index, Percentage

SOFR+400

^[26]

Basis point spread above index, Amount

400.00%

^[26]

Par / Shares

$ 6,797

Cost

6,559

Fair Value

$ 6,445

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Connatix Buyer, Inc, Maturity 7/13/2027, Industry Media, Current Coupon 11.16%, Basis Point Spread Above Index SOFR+576

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

Industry

Media

Current Coupon

11.16%

Basis point spread above index, Percentage

SOFR+576

^[26]

Basis point spread above index, Amount

576.00%

^[26]

Par / Shares

$ 3,815

Cost

3,762

Fair Value

$ 3,681

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Crane 1 Services, Inc, Maturity 8/16/2027, Industry Commercial Services & Supplies, Current Coupon 10.90%, Basis Point Spread Above Index SOFR+551

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Commercial Services & Supplies

Current Coupon

10.90%

Basis point spread above index, Percentage

SOFR+551

^[26]

Basis point spread above index, Amount

551.00%

^[26]

Par / Shares

$ 2,089

Cost

2,067

Fair Value

$ 2,079

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name DRI Holding Inc, Maturity 12/21/2028, Industry Media, Current Coupon 10.67%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2028

Industry

Media

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 2,627

Cost

2,418

Fair Value

$ 2,394

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name DRS Holdings III, Inc, Maturity 11/3/2025, Industry Consumer Goods: Durable, Current Coupon 11.79%, Basis Point Spread Above Index SOFR+640

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

Industry

Consumer Goods: Durable

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 14,429

Cost

14,376

Fair Value

$ 14,256

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Dr. Squatch, LLC, Maturity 8/31/2027, Industry Personal Products, Current Coupon 11.24%, Basis Point Spread Above Index SOFR+585

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

Industry

Personal Products

Current Coupon

11.24%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 14,712

Cost

14,511

Fair Value

$ 14,712

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Duraco Specialty Tapes LLC, Maturity 6/30/2024, Industry Containers and Packaging, Current Coupon 11.89%, Basis Point Spread Above Index SOFR+650

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

Industry

Containers and Packaging

Current Coupon

11.89%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 10,904

Cost

10,838

Fair Value

$ 10,740

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name ECL Entertainment, LLC, Maturity 8/31/2030, Industry Hotel, Gaming and Leisure, Current Coupon 10.07%, Basis Point Spread Above Index SOFR+475

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2030

Industry

Hotel, Gaming and Leisure

Current Coupon

10.07%

Basis point spread above index, Percentage

SOFR+475

^[26]

Basis point spread above index, Amount

475.00%

^[26]

Par / Shares

$ 5,000

Cost

4,900

Fair Value

$ 4,985

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name EDS Buyer, LLC, Maturity 1/10/2029, Industry Electronic Equipment, Instruments, and Components, Current Coupon 11.64%, Basis Point Spread Above Index SOFR+625

Schedule Of Investments [Line Items]

Maturity

Jan. 10, 2029

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

11.64%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 8,955

Cost

8,833

Fair Value

$ 8,821

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name ETE Intermediate II, LLC, Maturity 5/29/2029, Industry Diversified Consumer Services, Current Coupon 11.89%, Basis Point Spread Above Index SOFR+650

Schedule Of Investments [Line Items]

Maturity

May 29, 2029

Industry

Diversified Consumer Services

Current Coupon

11.89%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 12,404

Cost

12,154

Fair Value

$ 12,193

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Electro Rent Corporation, Maturity 1/7/2024, Industry Electronic Equipment, Instruments, and Components, Current Coupon 11.00%, Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

11.00%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 2,219

Cost

2,200

Fair Value

$ 2,171

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Exigo Intermediate II, LLC, Maturity 3/15/2027, Industry Software, Current Coupon 11.17%, Basis Point Spread Above Index SOFR+585

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

Industry

Software

Current Coupon

11.17%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 12,675

Cost

12,505

Fair Value

$ 12,422

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Fairbanks Morse Defense, Maturity 6/17/2028, Industry Aerospace and Defense, Current Coupon 10.40%, Basis Point Spread Above Index SOFR+475

Schedule Of Investments [Line Items]

Maturity

Jun. 17, 2028

Industry

Aerospace and Defense

Current Coupon

10.40%

Basis point spread above index, Percentage

SOFR+475

^[26]

Basis point spread above index, Amount

475.00%

^[26]

Par / Shares

$ 10,195

Cost

10,143

Fair Value

$ 10,114

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Global Holdings InterCo LLC, Maturity 3/16/2026, Industry Diversified Financial Services, Current Coupon 11.96%, Basis Point Spread Above Index SOFR+660

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

Industry

Diversified Financial Services

Current Coupon

11.96%

Basis point spread above index, Percentage

SOFR+660

^[26]

Basis point spread above index, Amount

660.00%

^[26]

Par / Shares

$ 3,736

Cost

3,724

Fair Value

$ 3,549

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Graffiti Buyer, Inc, Maturity 8/10/2027, Industry Trading Companies & Distributors, Current Coupon 10.99%, Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

Industry

Trading Companies & Distributors

Current Coupon

10.99%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 2,345

Cost

2,316

Fair Value

$ 2,322

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name HW Holdco, LLC, Maturity 12/10/2024, Industry Media, Current Coupon 11.75%, Basis Point Spread Above Index SOFR+640

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

Industry

Media

Current Coupon

11.75%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 3,014

Cost

2,988

Fair Value

$ 2,968

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Hancock Roofing and Construction L.L.C, Maturity 12/31/2026, Industry Insurance, Current Coupon 10.92%, Basis Point Spread Above Index SOFR+560

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

Industry

Insurance

Current Coupon

10.92%

Basis point spread above index, Percentage

SOFR+560

^[26]

Basis point spread above index, Amount

560.00%

^[26]

Par / Shares

$ 2,250

Cost

2,217

Fair Value

$ 2,194

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Holdco Sands Intermediate, LLC, Maturity 11/23/2028, Industry Aerospace and Defense, Current Coupon 11.32%, Basis Point Spread Above Index SOFR+585

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

Industry

Aerospace and Defense

Current Coupon

11.32%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 4,913

Cost

4,838

Fair Value

$ 4,913

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name ITI Holdings, Inc, Maturity 3/3/2028, Industry IT Services, Current Coupon 11.06%, Basis Point Spread Above Index SOFR+560

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

Industry

IT Services

Current Coupon

11.06%

Basis point spread above index, Percentage

SOFR+560

^[26]

Basis point spread above index, Amount

560.00%

^[26]

Par / Shares

$ 3,940

Cost

3,886

Fair Value

$ 3,861

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Imagine Acquisitionco, LLC, Maturity 11/15/2027, Industry Software, Current Coupon 10.72%, Basis Point Spread Above Index SOFR+535

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

Industry

Software

Current Coupon

10.72%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 9,248

Cost

9,075

Fair Value

$ 9,110

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Inception Fertility Ventures, LLC, Maturity 12/31/2024, Industry Healthcare Providers and Services, Current Coupon 12.51%, Basis Point Spread Above Index SOFR+715

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2024

Industry

Healthcare Providers and Services

Current Coupon

12.51%

Basis point spread above index, Percentage

SOFR+715

^[26]

Basis point spread above index, Amount

715.00%

^[26]

Par / Shares

$ 16,453

Cost

16,257

Fair Value

$ 16,453

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Infinity Home Services Holdco, Inc, Maturity 12/28/2028, Industry Commercial Services & Supplies, Current Coupon 12.24%, Basis Point Spread Above Index SOFR+685

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2028

Industry

Commercial Services & Supplies

Current Coupon

12.24%

Basis point spread above index, Percentage

SOFR+685

^[26]

Basis point spread above index, Amount

685.00%

^[26]

Par / Shares

$ 6,090

Cost

5,979

Fair Value

$ 6,090

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Integrated Data Services, Maturity 8/1/2029, Industry Business Services, Current Coupon 11.87%, Basis Point Spread Above Index SOFR+650

Schedule Of Investments [Line Items]

Maturity

Aug. 01, 2029

Industry

Business Services

Current Coupon

11.87%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 18,904

Cost

18,532

Fair Value

$ 18,463

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Integrative Nutrition, LLC, Maturity 1/31/2025, Industry Diversified Consumer Services, Current Coupon 12.54% (PIK 2.25%), Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

12.54%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 11,105

Cost

11,083

Fair Value

$ 10,439

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Integrity Marketing Acquisition, LLC, Maturity 8/27/2026, Industry Insurance, Current Coupon 11.57%, Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2026

Industry

Insurance

Current Coupon

11.57%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 5,906

Cost

5,851

Fair Value

$ 5,847

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Inventus Power, Inc, Maturity 6/30/2025, Industry Consumer Goods: Durable, Current Coupon 12.93%, Basis Point Spread Above Index SOFR+761

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2025

Industry

Consumer Goods: Durable

Current Coupon

12.93%

Basis point spread above index, Percentage

SOFR+761

^[26]

Basis point spread above index, Amount

761.00%

^[26]

Par / Shares

$ 8,246

Cost

8,097

Fair Value

$ 8,081

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name K2 Pure Solutions NoCal, L.P, Maturity 12/20/2023, Industry Chemicals, Plastics and Rubber, Current Coupon 13.42%, Basis Point Spread Above Index SOFR+810

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

Industry

Chemicals, Plastics and Rubber

Current Coupon

13.42%

Basis point spread above index, Percentage

SOFR+810

^[26]

Basis point spread above index, Amount

810.00%

^[26]

Par / Shares

$ 15,509

Cost

15,487

Fair Value

$ 15,509

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Kinetic Purchaser, LLC, Maturity 11/10/2027, Industry Personal Products, Current Coupon 11.54%, Basis Point Spread Above Index SOFR+615

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

Industry

Personal Products

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+615

^[26]

Basis point spread above index, Amount

615.00%

^[26]

Par / Shares

$ 16,662

Cost

16,346

Fair Value

$ 16,412

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name LAV Gear Holdings, Inc, Maturity 10/31/2024, Industry Capital Equipment, Current Coupon 11.74%, Basis Point Spread Above Index SOFR+643

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

Industry

Capital Equipment

Current Coupon

11.74%

Basis point spread above index, Percentage

SOFR+643

^[26]

Basis point spread above index, Amount

643.00%

^[26]

Par / Shares

$ 15,042

Cost

14,997

Fair Value

$ 14,862

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name LJ Avalon Holdings, LLC, Maturity 1/31/2030, Industry Environmental Industries, Current Coupon 11.77%, Basis Point Spread Above Index SOFR+640

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2030

Industry

Environmental Industries

Current Coupon

11.77%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 2,585

Cost

2,537

Fair Value

$ 2,534

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Lash OpCo, LLC, Maturity 2/18/2027, Industry Personal Products, Current Coupon 12.13%, Basis Point Spread Above Index SOFR+675

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

Industry

Personal Products

Current Coupon

12.13%

Basis point spread above index, Percentage

SOFR+675

^[26]

Basis point spread above index, Amount

675.00%

^[26]

Par / Shares

$ 14,210

Cost

13,989

Fair Value

$ 14,068

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Lightspeed Buyer Inc, Maturity 2/3/2026, Industry Healthcare Providers and Services, Current Coupon 10.70%, Basis Point Spread Above Index SOFR+535

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

Industry

Healthcare Providers and Services

Current Coupon

10.70%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 12,056

Cost

11,911

Fair Value

$ 11,935

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Loving Tan Intermediate II, Inc, Maturity 5/26/2028, Industry Consumer Products, Current Coupon 12.39%, Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

May 26, 2028

Industry

Consumer Products

Current Coupon

12.39%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 7,481

Cost

7,337

Fair Value

$ 7,369

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Lucky Bucks, LLC, Maturity 7/20/2027, Industry Hotel, Gaming and Leisure, Current Coupon 0.00%

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

^[28]

Industry

Hotel, Gaming and Leisure

^[28]

Current Coupon

0.00%

^[28]

Par / Shares

$ 4,489

^[28]

Cost

4,207

^[28]

Fair Value

$ 1,182

^[24],[28]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Lucky Bucks. LLC - OpCo DIP Loans, Maturity 9/30/2025, Industry Hotel, Gaming and Leisure, Current Coupon 15.33%, Basis Point Spread Above Index SOFR+1000

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Hotel, Gaming and Leisure

Current Coupon

15.33%

Basis point spread above index, Percentage

SOFR+1000

^[26]

Basis point spread above index, Amount

1000.00%

^[26]

Par / Shares

$ 160

Cost

158

Fair Value

$ 160

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name MAG DS Corp, Maturity 4/1/2027, Industry Aerospace and Defense, Current Coupon 10.99%, Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2027

Industry

Aerospace and Defense

Current Coupon

10.99%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 2,097

Cost

2,007

Fair Value

$ 1,986

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name MBS Holdings, Inc, Maturity 4/16/2027, Industry Internet Software and Services, Current Coupon 11.17%, Basis Point Spread Above Index SOFR+585

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

Industry

Internet Software and Services

Current Coupon

11.17%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 7,859

Cost

7,758

Fair Value

$ 7,749

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name MDI Buyer, Inc, Maturity 7/25/2028, Industry Chemicals, Plastics and Rubber, Current Coupon 11.32%, Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

Industry

Chemicals, Plastics and Rubber

Current Coupon

11.32%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 6,380

Cost

6,271

Fair Value

$ 6,244

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Magenta Buyer, LLC, Maturity 7/31/2028, Industry Software, Current Coupon 10.63%, Basis Point Spread Above Index SOFR+500

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2028

Industry

Software

Current Coupon

10.63%

Basis point spread above index, Percentage

SOFR+500

^[26]

Basis point spread above index, Amount

500.00%

^[26]

Par / Shares

$ 3,006

Cost

2,845

Fair Value

$ 2,228

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Marketplace Events, LLC - Super Priority First Lien Term Loan, Maturity 9/30/2025, Industry Media: Diversified and Production, Current Coupon 10.94%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Media: Diversified and Production

Current Coupon

10.94%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 647

Cost

647

Fair Value

$ 647

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Marketplace Events, LLC - Super Priority First Lien Unfunded Term Loan, Maturity 9/30/2025, Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^[27]

Industry

Media: Diversified and Production

^[27]

Par / Shares

$ 589

^[27]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Marketplace Events, LLC, Maturity 9/30/2026, Industry Media: Diversified and Production, Current Coupon 10.94%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

Industry

Media: Diversified and Production

Current Coupon

10.94%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 4,837

Cost

3,782

Fair Value

$ 4,837

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Mars Acquisition Holdings Corp, Maturity 5/14/2026, Industry Media, Current Coupon 11.04%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

Industry

Media

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 11,588

Cost

11,476

Fair Value

$ 11,472

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Meadowlark Acquirer, LLC, Maturity 12/10/2027, Industry Professional Services, Current Coupon 11.04%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

Industry

Professional Services

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 2,372

Cost

2,336

Fair Value

$ 2,312

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Mission Critical Electronics, Inc, Maturity 3/28/2024, Industry Capital Equipment, Current Coupon 11.29%, Basis Point Spread Above Index SOFR+515

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

Industry

Capital Equipment

Current Coupon

11.29%

Basis point spread above index, Percentage

SOFR+515

^[26]

Basis point spread above index, Amount

515.00%

^[26]

Par / Shares

$ 5,769

Cost

5,763

Fair Value

$ 5,740

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Municipal Emergency Services, Inc, Maturity 9/28/2027, Industry Distributors, Current Coupon 11.04%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

Industry

Distributors

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 3,430

Cost

3,380

Fair Value

$ 3,355

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name NBH Group LLC, Maturity 8/19/2026, Industry Healthcare, Education & Childcare, Current Coupon 10.93%, Basis Point Spread Above Index SOFR+525

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

Industry

Healthcare, Education & Childcare

Current Coupon

10.93%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 10,711

Cost

10,572

Fair Value

$ 10,497

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Neptune Flood Incorporated, Maturity 5/9/2029, Industry Insurance, Current Coupon 11.97%, Basis Point Spread Above Index SOFR+650

Schedule Of Investments [Line Items]

Maturity

May 09, 2029

Industry

Insurance

Current Coupon

11.97%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 5,042

Cost

4,970

Fair Value

$ 5,042

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name New Milani Group LLC, Maturity 6/6/2024, Industry Consumer Goods: Non-Durable, Current Coupon 10.92%, Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

Jun. 06, 2024

Industry

Consumer Goods: Non-Durable

Current Coupon

10.92%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 14,213

Cost

14,194

Fair Value

$ 14,213

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name ORL Acquisitions, Inc, Maturity 9/3/2027, Industry Consumer Finance, Current Coupon 12.84%, Basis Point Spread Above Index SOFR+725

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

Industry

Consumer Finance

Current Coupon

12.84%

Basis point spread above index, Percentage

SOFR+725

^[26]

Basis point spread above index, Amount

725.00%

^[26]

Par / Shares

$ 2,223

Cost

2,202

Fair Value

$ 2,023

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name One Stop Mailing, LLC, Maturity 5/7/2027, Industry Air Freight and Logistics, Current Coupon 11.68%, Basis Point Spread Above Index SOFR+636

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

Industry

Air Freight and Logistics

Current Coupon

11.68%

Basis point spread above index, Percentage

SOFR+636

^[26]

Basis point spread above index, Amount

636.00%

^[26]

Par / Shares

$ 15,849

Cost

15,588

Fair Value

$ 15,849

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Output Services Group, Inc, Maturity 6/29/2026, Industry Business Services, Current Coupon 0.00%

Schedule Of Investments [Line Items]

Maturity

Jun. 27, 2026

^[28]

Industry

Business Services

^[28]

Current Coupon

0.00%

^[28]

Par / Shares

$ 7,759

^[28]

Cost

7,689

^[28]

Fair Value

$ 1,513

^[24],[28]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Owl Acquisition, LLC, Maturity 2/4/2028, Industry Professional Services, Current Coupon 10.80%, Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

Industry

Professional Services

Current Coupon

10.80%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 3,893

Cost

3,832

Fair Value

$ 3,834

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Ox Two, LLC, Maturity 5/18/2026, Industry Construction and Building, Current Coupon 12.90%, Basis Point Spread Above Index SOFR+751

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

Industry

Construction and Building

Current Coupon

12.90%

Basis point spread above index, Percentage

SOFR+751

^[26]

Basis point spread above index, Amount

751.00%

^[26]

Par / Shares

$ 4,345

Cost

4,306

Fair Value

$ 4,269

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name PH Beauty Holdings III, Inc, Maturity 9/29/2026, Industry Wholesale, Current Coupon 10.68%, Basis Point Spread Above Index SOFR+500

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2025

Industry

Wholesale

Current Coupon

10.68%

Basis point spread above index, Percentage

SOFR+500

^[26]

Basis point spread above index, Amount

500.00%

^[26]

Par / Shares

$ 9,493

Cost

9,282

Fair Value

$ 7,974

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name PL Acquisitionco, LLC, Maturity 11/9/2027, Industry Textiles, Apparel and Luxury Goods, Current Coupon 12.42% (PIK 4.00%), Basis Point Spread Above Index SOFR+710

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

Industry

Textiles, Apparel and Luxury Goods

Current Coupon

12.42%

Basis point spread above index, Percentage

SOFR+710

^[26]

Basis point spread above index, Amount

710.00%

^[26]

Par / Shares

$ 7,565

Cost

7,467

Fair Value

$ 6,809

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Peaquod Merger Sub, Inc, Maturity 12/2/2026, Industry Diversified Financial Services, Current Coupon 11.79%, Basis Point Spread Above Index SOFR+640

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2026

Industry

Diversified Financial Services

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 11,474

Cost

11,267

Fair Value

$ 11,244

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name PlayPower, Inc, Maturity 5/8/2026, Industry Consumer Goods: Durable, Current Coupon 10.57%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

Industry

Consumer Goods: Durable

Current Coupon

10.57%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 2,551

Cost

2,491

Fair Value

$ 2,436

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Pragmatic Institute, LLC, Maturity 7/6/2028, Industry Education, Current Coupon 11.17%, Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

Industry

Education

Current Coupon

11.17%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 11,138

Cost

10,999

Fair Value

$ 10,636

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Quantic Electronics, LLC, Maturity 11/19/2026, Industry Aerospace and Defense, Current Coupon 11.74%, Basis Point Spread Above Index SOFR+635

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

Industry

Aerospace and Defense

Current Coupon

11.74%

Basis point spread above index, Percentage

SOFR+635

^[26]

Basis point spread above index, Amount

635.00%

^[26]

Par / Shares

$ 2,803

Cost

2,776

Fair Value

$ 2,761

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Rancho Health MSO, Inc, Maturity 12/18/2025, Industry Healthcare Providers and Services, Current Coupon 11.22%, Basis Point Spread Above Index SOFR+585

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

Healthcare Providers and Services

Current Coupon

11.22%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 1,029

Cost

1,029

Fair Value

$ 1,029

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Reception Purchaser, LLC, Maturity 2/28/2028, Industry Air Freight and Logistics, Current Coupon 11.54%, Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Feb. 28, 2028

Industry

Air Freight and Logistics

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 4,938

Cost

4,876

Fair Value

$ 4,740

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Recteq, LLC, Maturity 1/29/2026, Industry Leisure Products, Current Coupon 12.54%, Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

Industry

Leisure Products

Current Coupon

12.54%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 4,875

Cost

4,825

Fair Value

$ 4,729

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Research Now Group, LLC and Dynata, LLC, Maturity 12/20/2024, Industry Diversified Consumer Services, Current Coupon 11.13%, Basis Point Spread Above Index SOFR+576

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Diversified Consumer Services

Current Coupon

11.13%

Basis point spread above index, Percentage

SOFR+576

^[26]

Basis point spread above index, Amount

576.00%

^[26]

Par / Shares

$ 12,432

Cost

12,322

Fair Value

$ 10,878

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Rural Sourcing Holdings, Inc. (HPA SPQ Merger Sub, Inc.), Maturity 6/15/2029, Industry High Tech Industries, Current Coupon 11.52%, Basis Point Spread Above Index SOFR+625

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2029

Industry

High Tech Industries

Current Coupon

11.52%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 3,749

Cost

3,676

Fair Value

$ 3,692

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name STV Group Incorporated, Maturity 12/11/2026, Industry Construction and Building, Current Coupon 10.67%, Basis Point Spread Above Index SOFR+535

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

Industry

Construction and Building

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 9,075

Cost

9,025

Fair Value

$ 8,894

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Sales Benchmark Index LLC, Maturity 1/3/2025, Industry Professional Services, Current Coupon 11.59%, Basis Point Spread Above Index SOFR+620

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

Industry

Professional Services

Current Coupon

11.59%

Basis point spread above index, Percentage

SOFR+620

^[26]

Basis point spread above index, Amount

620.00%

^[26]

Par / Shares

$ 9,522

Cost

9,474

Fair Value

$ 9,475

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Sargent & Greenleaf Inc, Maturity 12/20/2024, Industry Wholesale, Current Coupon 12.92% (PIK 1.00%), Basis Point Spread Above Index SOFR+760

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Wholesale

Current Coupon

12.92%

Basis point spread above index, Percentage

SOFR+760

^[26]

Basis point spread above index, Amount

760.00%

^[26]

Par / Shares

$ 5,167

Cost

5,148

Fair Value

$ 5,116

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Schlesinger Global, Inc, Maturity 7/14/2025, Industry Business Services, Current Coupon 12.52% (PIK .50%), Basis Point Spread Above Index SOFR+715

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Business Services

Current Coupon

12.52%

Basis point spread above index, Percentage

SOFR+715

^[26]

Basis point spread above index, Amount

715.00%

^[26]

Par / Shares

$ 11,791

Cost

11,777

Fair Value

$ 11,407

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Seaway Buyer, LLC, Maturity 6/13/2029, Industry Chemicals, Plastics and Rubber, Current Coupon 11.54%, Basis Point Spread Above Index SOFR+615

Schedule Of Investments [Line Items]

Maturity

Jun. 13, 2029

Industry

Chemicals, Plastics and Rubber

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+615

^[26]

Basis point spread above index, Amount

615.00%

^[26]

Par / Shares

$ 4,950

Cost

4,884

Fair Value

$ 4,802

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Sigma Defense Systems, LLC, Maturity 12/18/2025, Industry Aerospace and Defense, Current Coupon 14.04%, Basis Point Spread Above Index SOFR+865

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

Aerospace and Defense

Current Coupon

14.04%

Basis point spread above index, Percentage

SOFR+865

^[26]

Basis point spread above index, Amount

865.00%

^[26]

Par / Shares

$ 13,787

Cost

13,579

Fair Value

$ 13,580

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Skopima Consilio Parent, LLC, Maturity 5/17/2028, Industry Business Services, Current Coupon 9.93%, Basis Point Spread Above Index SOFR+450

Schedule Of Investments [Line Items]

Maturity

May 17, 2028

Industry

Business Services

Current Coupon

9.93%

Basis point spread above index, Percentage

SOFR+450

^[26]

Basis point spread above index, Amount

450.00%

^[26]

Par / Shares

$ 1,300

Cost

1,274

Fair Value

$ 1,272

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Smile Brands Inc, Maturity 10/14/2025, Industry Healthcare and Pharmaceuticals, Current Coupon 9.70%, Basis Point Spread Above Index SOFR+450

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

9.70%

Basis point spread above index, Percentage

SOFR+450

^[26]

Basis point spread above index, Amount

450.00%

^[26]

Par / Shares

$ 11,796

Cost

11,739

Fair Value

$ 10,598

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Solutionreach, Inc, Maturity 7/17/2025, Industry Healthcare and Pharmaceuticals, Current Coupon 12.37%, Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

Jul. 17, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

12.37%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 4,582

Cost

4,577

Fair Value

$ 4,563

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Spendmend Holdings LLC, Maturity 3/1/2028, Industry Healthcare Technology, Current Coupon 11.04%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 4,112

Cost

4,047

Fair Value

$ 4,022

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Summit Behavioral Healthcare, LLC, Maturity 11/24/2028, Industry Healthcare and Pharmaceuticals, Current Coupon 10.43%, Basis Point Spread Above Index SOFR+475

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

10.43%

Basis point spread above index, Percentage

SOFR+475

^[26]

Basis point spread above index, Amount

475.00%

^[26]

Par / Shares

$ 1,786

Cost

1,696

Fair Value

$ 1,779

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC), Maturity 8/16/2027, Industry Aerospace and Defense, Current Coupon 11.49%, Basis Point Spread Above Index SOFR+600

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Current Coupon

11.49%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 14,738

Cost

14,540

Fair Value

$ 14,575

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name TPC Canada Parent, Inc. and TPC US Parent, LLC, Maturity 11/24/2025, Industry Consumer Goods: Non-Durable, Current Coupon 10.95%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

Industry

Consumer Goods: Non-Durable

Current Coupon

10.95%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 8,654

Cost

8,556

Fair Value

$ 8,654

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name TWS Acquisition Corporation, Maturity 6/16/2025, Industry Diversified Consumer Services, Current Coupon 11.80%, Basis Point Spread Above Index SOFR+625

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

Industry

Diversified Consumer Services

Current Coupon

11.80%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 4,316

Cost

4,310

Fair Value

$ 4,316

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Team Services Group, LLC, Maturity 11/24/2024, Industry Healthcare and Pharmaceuticals, Current Coupon 10.75%, Basis Point Spread Above Index SOFR+500

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

10.75%

Basis point spread above index, Percentage

SOFR+500

^[26]

Basis point spread above index, Amount

500.00%

^[26]

Par / Shares

$ 346

Cost

333

Fair Value

$ 339

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Teneo Holdings LLC, Maturity 7/18/2025, Industry Business Services, Current Coupon 10.67%, Basis Point Spread Above Index SOFR+535

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

Industry

Business Services

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 2,262

Cost

2,261

Fair Value

$ 2,259

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name The Aegis Technologies Group, LLC, Maturity 10/31/2025, Industry Aerospace and Defense, Current Coupon 12.04%, Basis Point Spread Above Index SOFR+665

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

Industry

Aerospace and Defense

Current Coupon

12.04%

Basis point spread above index, Percentage

SOFR+665

^[26]

Basis point spread above index, Amount

665.00%

^[26]

Par / Shares

$ 5,602

Cost

5,560

Fair Value

$ 5,518

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name The Bluebird Group LLC, Maturity 7/27/2026, Industry Professional Services, Current Coupon 12.79%, Basis Point Spread Above Index SOFR+700

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

Industry

Professional Services

Current Coupon

12.79%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 5,403

Cost

5,336

Fair Value

$ 5,382

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name The Vertex Companies, LLC, Maturity 8/31/2027, Industry Construction and Engineering, Current Coupon 11.72%, Basis Point Spread Above Index SOFR+635

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

Industry

Construction and Engineering

Current Coupon

11.72%

Basis point spread above index, Percentage

SOFR+635

^[26]

Basis point spread above index, Amount

635.00%

^[26]

Par / Shares

$ 7,716

Cost

7,591

Fair Value

$ 7,656

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Tyto Athene, LLC, Maturity 4/1/2028, Industry IT Services, Current Coupon 10.90%, Basis Point Spread Above Index SOFR+550

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

Industry

IT Services

Current Coupon

10.90%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 14,670

Cost

14,565

Fair Value

$ 13,379

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Urology Management Holdings, Inc, Maturity 6/15/2026, Industry Healthcare and Pharmaceuticals, Current Coupon 11.79%, Basis Point Spread Above Index SOFR+565

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2026

Industry

Healthcare and Pharmaceuticals

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+665

^[26]

Basis point spread above index, Amount

665.00%

^[26]

Par / Shares

$ 6,892

Cost

6,775

Fair Value

$ 6,749

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Walker Edison Furniture Company LLC - DDTL - Unfunded, Maturity 3/31/2027, Industry Wholesale

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[27]

Industry

Wholesale

^[27]

Par / Shares

$ 333

^[27]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Walker Edison Furniture Company LLC - Junior Revolving Credit Facility, Maturity 3/31/2027, Industry Wholesale, Current Coupon 11.68%, Basis Point Spread Above Index SOFR+635

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

11.68%

Basis point spread above index, Percentage

SOFR+635

^[26]

Basis point spread above index, Amount

635.00%

^[26]

Par / Shares

$ 1,667

Cost

1,667

Fair Value

$ 1,667

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Walker Edison Furniture Company LLC, Maturity 3/31/2027, Industry Wholesale, Current Coupon 12.18%, Basis Point Spread Above Index SOFR+685

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

12.18%

Basis point spread above index, Percentage

SOFR+685

^[26]

Basis point spread above index, Amount

685.00%

^[26]

Par / Shares

$ 3,521

Cost

3,521

Fair Value

$ 3,521

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Wildcat Buyerco, Inc, Maturity 2/27/2026, Industry Electronic Equipment, Instruments, and Components, Current Coupon 10.54%, Basis Point Spread Above Index SOFR+515

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

10.54%

Basis point spread above index, Percentage

SOFR+515

^[26]

Basis point spread above index, Amount

515.00%

^[26]

Par / Shares

$ 10,565

Cost

10,491

Fair Value

$ 10,460

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Zips Car Wash, LLC, Maturity 3/1/2024, Industry Automobiles, Current Coupon 12.67%, Basis Point Spread Above Index SOFR+735

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

Industry

Automobiles

Current Coupon

12.67%

Basis point spread above index, Percentage

SOFR+735

^[26]

Basis point spread above index, Amount

735.00%

^[26]

Par / Shares

$ 16,732

Cost

16,660

Fair Value

16,188

^[24]

Investment, Identifier [Axis]: Related Party PSSL Investments

Schedule Of Investments [Line Items]

Cost

770,280

Fair Value

754,722

^[23]

Investment, Identifier [Axis]: Related Party PSSL Investments and Cash Equivalents (as restated) — 1,389.26%

Schedule Of Investments [Line Items]

Cost

800,432

Fair Value

784,874

^[23]

Investment, Identifier [Axis]: Related Party PSSL Second Lien Secured Debt - 5.0%

Schedule Of Investments [Line Items]

Cost

2,963

Fair Value

2,955

^[23]

Investment, Identifier [Axis]: Related Party PSSL, Cash and Cash Equivalents - 133.2%, BlackRock Federal FD Institutional 30

Schedule Of Investments [Line Items]

Cost

77,446

Fair Value

77,446

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Equity - 100.0%

Schedule Of Investments [Line Items]

Fair Value

58,150

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Liabilities in Excess of Other Assets — (1,385.4)%

Schedule Of Investments [Line Items]

Fair Value

(805,155)

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Total Cash and Cash Equivalents

Schedule Of Investments [Line Items]

Cost

77,446

Fair Value

77,446

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Total Investments - 1,351.4%

Schedule Of Investments [Line Items]

Cost

804,608

Fair Value

785,859

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Total Investments and Cash Equivalents —1,485.4%

Schedule Of Investments [Line Items]

Cost

882,054

Fair Value

863,305

^[24]

Investment, Identifier [Axis]: Total Cash and Cash Equivalents

Schedule Of Investments [Line Items]

Cost

100,555

^[2],[3]

51,452

^[5],[6]

Fair Value

100,555

^[2],[3],[4]

51,488

^[5],[6],[7]

Investment, Identifier [Axis]: Total Investments and Cash Equivalents—178.6%

Schedule Of Investments [Line Items]

Cost

1,193,433

^[2],[3]

Fair Value

1,167,729

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments and Cash Equivalents—230.0%

Schedule Of Investments [Line Items]

Cost

1,228,809

^[5],[6]

Fair Value

1,215,742

^[5],[6],[7]

Investment, Identifier [Axis]: Total Investments in Controlled, Affiliated Portfolio Companies

Schedule Of Investments [Line Items]

Cost

324,639

^[2],[3]

Fair Value

294,996

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%

Schedule Of Investments [Line Items]

Cost

768,240

^[2],[3]

Fair Value

772,178

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments—163.3%

Schedule Of Investments [Line Items]

Cost

1,092,878

^[2],[3]

Fair Value

$ 1,067,174

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments—220.9%

Schedule Of Investments [Line Items]

Cost

1,177,357

^[5],[6]

Fair Value

$ 1,164,254

^[5],[6],[7]

[1]	Represents the purchase of a security with delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[2]	The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.
[3]	The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
[4]	Valued based on our accounting policy (See Note 2). The value of all securities was determined using significant unobservable inputs (See Note 5).
[5]	The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.
[6]	The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
[7]	Valued based on our accounting policy (See Note 2). The value of all securities was determined using significant unobservable inputs (See Note 5).
[8]	Investment is held through our Taxable Subsidiary (See Note 1).
[9]	The securities, or a portion thereof, are not 1) pledged as collateral under the Credit Facility and held through Funding I; or 2) securing the 2031 Asset-Backed Debt (See Note 11) and held through PennantPark CLO I, Ltd.
[10]	The investment is treated as a non-qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets. As of September 30, 2023, qualifying assets represent 76% of our total assets and non-qualifying assets represent 24% of our total assets.
[11]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured Overnight Financing Rate, or “SOFR”, or Prime rate, or “P, or Sterling Overnight Index Average, or “SONIA.” The spread may change based on the type of rate used. The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans are typically indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower’s option. SONIA loans are typically indexed daily for GBP loans with a quarterly frequency payment. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[12]	Investment is held through our Taxable Subsidiary (See Note 1).
[13]	The securities, or a portion thereof, are not 1) pledged as collateral under the Credit Facility and held through Funding I; or 2) securing the 2031 Asset-Backed Debt (See Note 11) and held through PennantPark CLO I, Ltd.
[14]	Represents the purchase of a security with delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[15]	The investment is treated as a non-qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets. As of September 30, 2022, qualifying assets represent 81% of our total assets and non-qualifying assets represent 19% of our total assets.
[16]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable LIBOR or “L” or Prime rate, or “P.” The spread may change based on the type of rate used. The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to a 30-day, 60-day, 90-day or 180-day LIBOR rate (1M L, 2M L, 3M L, or 6M L, respectively), at the borrower’s option. All securities are subject to a LIBOR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[17]	Non-income producing securities.
[18]	Non-U.S. company or principal place of business outside the United States.
[19]	Non-income producing securities.
[20]	Non-U.S. company or principal place of business outside the United States.
[21]	Par amount is denominated in Australian Dollars (AUD) as denoted.
[22]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable LIBOR, or “L”, Secured Overnight Financing Rate or "SOFR", or Prime rate or “P”. The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to a 30-day, 60-day, 90-day or 180-day SOFR rate (1M S, 2M S, 3M S, or 6M S, respectively), at the borrower’s option. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[23]	Valued based on PSSL’s accounting policy.
[24]	Valued based on PSSL’s accounting policy.
[25]	Represents the purchase of a security with a delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[26]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured Overnight Financing Rate or "SOFR", or Prime rate or “P”. The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[27]	Represents the purchase of a security with a delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[28]	Security currently on interest non-accrual status.

Transactions with Affiliated Companies

12 Months Ended

Sep. 30, 2023

Investments in and Advances to Affiliates [Abstract]

Transactions with Affiliated Companies

6. TRANSACTIONS WITH AFFILIATED COMPANIES

An affiliated portfolio company is a company in which we have ownership of 5% or more of its voting securities. A portfolio company is generally presumed to be a non-controlled affiliate when we own at least 5% but 25% or less of its voting securities and a controlled affiliate generally when we own more than 25% of its voting securities. Transactions related to our funded investments with both controlled and non-controlled affiliates for the year ended September 30, 2023 were as follows ($ in thousands):


Name of Investment	Fair Value at September 30, 2022		Gross Additions		Sale of/ Distribution from Affiliates		Net Change in Unrealized Appreciation (Depreciation)			Fair Value at September 30, 2023		Interest Income		Dividend/Other Income		Net Realized Gains (Losses)
Controlled Affiliates
Marketplace Events, LLC	$	31,390	$	1,413	$	—	$	1,226		$	34,028	$	4,513	$	—	$	—
PennantPark Senior Secured
Loan Fund I LLC *		239,615		28,438		—		(7,084	)		260,969		26,534		11,463		—
Total Controlled Affiliates	$	271,005	$	29,850	$	—	$	(5,858	)	$	294,996	$	31,047	$	11,463	$	—
Total Controlled and Non-Controlled Affiliates	$	271,005	$	29,850	$	—	$	(5,858	)	$	294,996	$	31,047	$	11,463	$	—

* We and Kemper are the members of PSSL, a joint venture formed as a Delaware limited liability company that is not consolidated by us for financial reporting purposes. The members of PSSL make investments in the PSSL in the form of first lien secured debt and equity interests, and all portfolio and other material decisions regarding PSSL must be submitted to PSSL’s board of directors or investment committee, both of which are comprised of two members appointed by each of us and Kemper. Because management of PSSL is shared equally between us and Kemper, we do not believe we control PSSL for purposes of the 1940 Act or otherwise.

Organization - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands								1 Months Ended			12 Months Ended			156 Months Ended
	Dec. 15, 2023	Aug. 11, 2023	Mar. 27, 2023	Dec. 15, 2022	Dec. 15, 2021	Aug. 20, 2021	Dec. 15, 2020	Apr. 30, 2021	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2023	Oct. 31, 2021	Mar. 31, 2021	Nov. 30, 2017
Debt Instrument [Line Items]
Percentage of managed assets invested											80.00%
2035 Asset-backed debt net (par-$246,000)											$ 76,200	$ 97,000		$ 76,200
Deferred Offering Costs											1,000			$ 1,000
Net realized (gain) loss											$ (15,892)	$ (11,106)	$ (12,796)
Common stock, par value											$ 0.001	$ 0.001		$ 0.001
Common stock shares issued											13,389,064	6,464,910	108,654
Common stock issued issued											$ 148,408	$ 81,936	$ 1,403
At The Market Offering
Debt Instrument [Line Items]
Proceeds from Issuance of Common Stock											$ 100,200	$ 31,900
Common stock shares issued											9,089,064	2,464,910		11,662,628
Weighted average price per share of common stock issued											$ 11.03	$ 13.12		$ 11.44
Proceeds from issuance of common stock gross														$ 133,500
Proceeds from issuance of common stock											$ 100,200	$ 31,900
Common stock issued issued											154,100	41,300
Legal and other offering costs											$ 500	$ 100		500
Equity Distribution Agreements
Debt Instrument [Line Items]
Proceeds from Issuance of Common Stock		$ 250,000	$ 100,000
Aggregate offering price						$ 75,000
Proceeds from issuance of common stock		$ 250,000	$ 100,000
2026 Notes Payable
Debt Instrument [Line Items]
2035 Asset-backed debt net (par-$246,000)															$ 85,000	$ 100,000
Percentage of public offering price per notes issued															101.50%	99.40%
Debt instrument, interest rate											4.25%
Debt instrument, maturity date											Apr. 01, 2026
Debt instrument, periodic payment											semi-annually
PennantPark-TSO Senior Loan Fund, LP
Debt Instrument [Line Items]
Sale of investments to wholly owned subsidiary								$ 81,400
Sale of investments to wholly owned subsidiary in cash								69,500
Sale of investments to wholly owned subsidiary in equity interest								$ 11,900
Percentage of outstanding class A units								23.08%					23.08%
Net realized (gain) loss								$ 400
Capital commitment													$ 15,300
Voting interest in general partnership													4.99%
2023 Notes
Debt Instrument [Line Items]
2035 Asset-backed debt net (par-$246,000)																	$ 138,600
Debt instrument, interest rate									4.30%
Debt instrument, periodic payment											four annual installments
Percentage of original principal amount payable				15.00%	15.00%		15.00%
2023 Notes \| Scenario Forecast
Debt Instrument [Line Items]
Percentage of original principal amount payable	55.00%
SOFR
Debt Instrument [Line Items]
Credit facility basis points											2.36%
2031 Asset-Backed Debt
Debt Instrument [Line Items]
Percentage of preferred shares of securitization issuer										100.00%
2031 Asset-Backed Debt \| Class D Secured Deferrable Floating Rate Notes
Debt Instrument [Line Items]
Percentage of notes issued by securitization issuer										100.00%
Maximum \| SOFR
Debt Instrument [Line Items]
Maximum borrowing capacity											$ 386,000			$ 386,000
First Lien Secured Debt \| Minimum
Debt Instrument [Line Items]
Percentage of overall portfolio											65.00%
Second Lien Secured Debt \| Maximum
Debt Instrument [Line Items]
Percentage of overall portfolio											35.00%

N-2 - USD ($)

1 Months Ended

3 Months Ended

12 Months Ended

Oct. 31, 2021

Mar. 31, 2021

Nov. 30, 2017

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2023

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2018

Cover [Abstract]

Entity Central Index Key

0001504619

Amendment Flag

false

Securities Act File Number

814-00891

Document Type

10-K

Entity Registrant Name

PENNANTPARK FLOATING RATE CAPITAL LTD.

Entity Address, Address Line One

1691 Michigan Avenue

Entity Address, City or Town

Miami Beach

Entity Address, State or Province

Entity Address, Postal Zip Code

33139

City Area Code

786

Local Phone Number

297-9500

Entity Well-known Seasoned Issuer

Entity Emerging Growth Company

false

Fee Table [Abstract]

Sales Load [Percent]

^[1]

0.00%

Other Transaction Expenses [Abstract]

Other Transaction Expense 1 [Percent]

^[2]

0.00%

Other Transaction Expenses [Percent]

0.00%

Management Fees [Percent]

^[3],[4]

2.00%

Interest Expenses on Borrowings [Percent]

^[3],[5]

6.68%

Incentive Fees [Percent]

^[3],[6]

2.95%

Acquired Fund Fees and Expenses [Percent]

^[3],[7]

12.56%

Other Annual Expenses [Abstract]

Other Annual Expenses [Percent]

^[3],[8]

0.95%

Total Annual Expenses [Percent]

^[3],[9]

25.14%

Purpose of Fee Table , Note [Text Block]

The following table is being provided to update, as of September 30, 2023, certain information in our registration statement on Form N-2 (File No. 333-268813), most recently declared effective by the SEC on January 9, 2023. This table will assist you in understanding the various costs and expenses that an investor in shares of our common stock will bear directly or indirectly. However, we caution you that some of the percentages indicated in the table below are estimates and may vary from actual results. The following table should not be considered a representation of our future expenses. Actual expenses may be greater or less than shown. Except where the context suggests otherwise, whenever reference is made to fees or expenses paid by “you” or “us” or that “we” will pay, stockholders will indirectly bear such fees or expenses as investors in us.

Other Expenses, Note [Text Block]

(8)

“Other expenses” includes our general and administrative expenses, professional fees, directors’ fees, insurance costs, taxes and the expenses of the Investment Adviser reimbursable under our Investment Management Agreement and of the Administrator reimbursable under our Administration Agreement. Such expenses are based on estimated amounts for the current fiscal year.

Management Fee not based on Net Assets, Note [Text Block]

(4)

The contractual management fee is calculated at an annual rate of 1.00% of our average adjusted gross assets on September 30, 2023. The contractual management fee is calculated at an annual rate of 1.00% of our average adjusted gross assets on September 30, 2023.

Acquired Fund Fees Estimated, Note [Text Block]

(7)

Our stockholders indirectly bear 87.5% of the expenses of our investment in PSSL. No management fee is charged by PennantPark Investment Advisers in connection with PSSL. PSSL pays the Administrator an annual fee of 0.25% of average gross assets under management. For this chart, PSSL fees and operating expenses are based on our share of the actual fees and operating expenses of PSSL for the fiscal year ended September 30, 2023. Expenses for PSSL may fluctuate over time and may be substantially higher or lower in the future.
Our stockholders indirectly bear 23.08% of the expenses of our investment in PTSF. A management fee equal to 0.50% per annum of the gross assets of PTSF and its subsidiaries is charged by PennantPark Investment Advisers in connection with PTSF. For this chart, PTSF fees and operating expenses are based on our share of the actual fees and operating expenses of PTSF for the fiscal year ended September 30, 2023. Expenses for PSSL may fluctuate over time and may be substantially higher or lower in the future.

Acquired Fund Incentive Allocation, Note [Text Block]

(5)

The portion of incentive fees paid with respect to net investment income and capital gains, if any, is based on actual amounts incurred during the fiscal year ended September 30, 2023. Such incentive fees are based on performance, vary from period to period and are not paid unless our performance exceeds specified thresholds. Incentive fees in respect of net investment income do not include incentive fees in respect of net capital gains. The portion of our incentive fee paid in respect of net capital gains is determined and payable in arrears as of the end of each calendar year (or upon termination of the Investment Management Agreement, as of the termination date) and equals 20.0% of our realized capital gains, if any, on a cumulative basis from inception through the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain incentive fees. For purposes of this chart and our Consolidated Financial Statements, our incentive fees on capital gains are calculated in accordance with GAAP. As we cannot predict our future net investment income or capital gains, the incentive fee paid in future periods, if any, may be substantially different than the fee earned during the fiscal year ended September 30, 2023. For more detailed information about the incentive fee, please see “Item 1. Business—Investment Management Agreement” and “Item 1. Business—Investment Advisory Fees”.

Acquired Fund Total Annual Expenses, Note [Text Block]

(9)

“Total estimated annual expenses” as a percentage of average net assets attributable to common shares, to the extent we borrow money to make investments, are higher than the total estimated annual expenses percentage would be for a company that is not leveraged. We may borrow money to leverage our net assets and increase our total assets. The SEC requires that the “total estimated annual expenses” percentage be calculated as a percentage of average net assets (defined as total assets less indebtedness) rather than total assets, which include assets that have been funded with borrowed money. If the “Total estimated annual expenses” percentage were calculated instead as a percentage of total assets, our “Total estimated annual expenses” would be 11.97% of average total assets.

Financial Highlights [Abstract]

Senior Securities [Table Text Block]

The report of RSM US LLP, an independent registered public accounting firm, on the Senior Securities table as of September 30, 2023, is attached as an exhibit to this Report.


Class and Year	Total Amount Outstanding (1)		Asset Coverage Per Unit (2)		Average Market Value Per Unit (3)
Credit Facility
Fiscal 2023	$	9,400	$	2,304	N/A
Fiscal 2022		168,830		1,784	N/A
Fiscal 2021		219,400		1,746	N/A
Fiscal 2020		308,599		1,677	N/A
Fiscal 2019		265,308		1,786	N/A
Fiscal 2018		333,728		2,122	N/A
Fiscal 2017		253,783		2,780	N/A
Fiscal 2016		232,908		2,601	N/A
Fiscal 2015		29,600		13,598	N/A
Fiscal 2014		146,400		2,469	N/A
2023 Notes
Fiscal 2023	$	76,219	$	2,304	N/A
Fiscal 2022		97,006		1,784	N/A
Fiscal 2021		117,793		1,746	N/A
Fiscal 2020		138,580		1,677	N/A
Fiscal 2019		138,580		1,786	N/A
Fiscal 2018		138,580		2,122	N/A
2026 Notes
Fiscal 2023	$	185,000	$	2,304	N/A
Fiscal 2022		185,000		1,784	N/A
Fiscal 2021		100,000		1,746	N/A
2031 Asset-Backed Debt
Fiscal 2023	$	228,000	$	2,304	N/A
Fiscal 2022		228,000		1,784	N/A
Fiscal 2021		228,000		1,746	N/A
Fiscal 2020		228,000		1,677	N/A
Fiscal 2019		228,000		1,786	N/A


(1)	Total cost of each class of senior securities outstanding at the end of the period presented in thousands (000s).


(2)	The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by senior securities representing indebtedness at par. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage Per Unit.


(3)	Not applicable, as senior securities are not registered for public trading in the United States of America.

Senior Securities, Note [Text Block]

Senior Securities

Information about our senior securities is shown in the following table as of September 30, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014. The report of RSM US LLP, an independent registered public accounting firm, on the Senior Securities table as of September 30, 2023, is attached as an exhibit to this Report.


Class and Year	Total Amount Outstanding (1)		Asset Coverage Per Unit (2)		Average Market Value Per Unit (3)
Credit Facility
Fiscal 2023	$	9,400	$	2,304	N/A
Fiscal 2022		168,830		1,784	N/A
Fiscal 2021		219,400		1,746	N/A
Fiscal 2020		308,599		1,677	N/A
Fiscal 2019		265,308		1,786	N/A
Fiscal 2018		333,728		2,122	N/A
Fiscal 2017		253,783		2,780	N/A
Fiscal 2016		232,908		2,601	N/A
Fiscal 2015		29,600		13,598	N/A
Fiscal 2014		146,400		2,469	N/A
2023 Notes
Fiscal 2023	$	76,219	$	2,304	N/A
Fiscal 2022		97,006		1,784	N/A
Fiscal 2021		117,793		1,746	N/A
Fiscal 2020		138,580		1,677	N/A
Fiscal 2019		138,580		1,786	N/A
Fiscal 2018		138,580		2,122	N/A
2026 Notes
Fiscal 2023	$	185,000	$	2,304	N/A
Fiscal 2022		185,000		1,784	N/A
Fiscal 2021		100,000		1,746	N/A
2031 Asset-Backed Debt
Fiscal 2023	$	228,000	$	2,304	N/A
Fiscal 2022		228,000		1,784	N/A
Fiscal 2021		228,000		1,746	N/A
Fiscal 2020		228,000		1,677	N/A
Fiscal 2019		228,000		1,786	N/A


(1)	Total cost of each class of senior securities outstanding at the end of the period presented in thousands (000s).


(2)	The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by senior securities representing indebtedness at par. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage Per Unit.


(3)	Not applicable, as senior securities are not registered for public trading in the United States of America.

General Description of Registrant [Abstract]

Investment Objectives and Practices [Text Block]

PennantPark Floating Rate Capital Ltd. is a BDC whose objectives are to generate both current income and capital appreciation while seeking to preserve capital by investing primarily in floating rate loans and other investments made to U.S. middle-market companies.

We believe that floating rate loans to U.S. middle-market companies offer attractive risk-reward to investors due to a limited amount of capital available for such companies. We use the term “middle-market” to refer to companies with annual revenues between $50 million and $1 billion. Our investments are typically rated below

investment grade. Securities rated below investment grade are often referred to as “leveraged loans” or “high yield” securities or “junk bonds” and are often higher risk compared to debt instruments that are rated above investment grade and have speculative characteristics. However, when compared to junk bonds and other non-investment grade debt, senior secured floating rate loans typically have more robust capital-preserving qualities, such as historically lower default rates than junk bonds, represent the senior source of capital in a borrower’s capital structure and often have certain of the borrower’s assets pledged as collateral. Our debt investments may generally range in maturity from three to ten years and are made to U.S. and, to a limited extent, non-U.S. corporations, partnerships and other business entities which operate in various industries and geographical regions.

Under normal market conditions, we generally expect that at least 80% of the value of our managed assets will be invested in floating rate loans and other investments bearing a variable-rate of interest. We generally expect that first lien secured debt will represent at least 65% of our overall portfolio. We also generally expect to invest up to 35% of our overall portfolio opportunistically in other types of investments, including second lien secured debt and subordinated debt and, to a lesser extent, equity investments. We seek to create a diversified portfolio by generally targeting an investment size between $5 million and $30 million, on average, although we expect that this investment size will vary proportionately with the size of our capital base.

Our investment activity depends on many factors, including the amount of debt and equity capital available to middle-market companies, the level of merger and acquisition activity for such companies, the general economic environment and the competitive environment for the types of investments we make. We have used, and expect to continue to use, our debt capital, proceeds from the rotation of our portfolio and proceeds from public and private offerings of securities to finance our investment objectives.

Risk Factors [Table Text Block]

Item 1A. Risk Factors

Before you invest in our securities, you should be aware of various risks, including those described below. You should carefully consider these risk factors, together with all of the other information included in this Report, before you decide whether to make an investment in our securities. The risks set out below are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may have a material adverse effect on our business, financial condition and/or operating results. If any of the following events occur, our business, financial condition and results of operations could be materially adversely affected. In such case, our NAV, the trading price of our common stock, our 2023 Notes or any securities we may issue, may decline, and an investor may lose all or part of an investment.

RISKS RELATING TO OUR BUSINESS AND STRUCTURE

We are subject to various covenants under Funding I’s Credit Facility which, if not complied with, could result in reduced availability and/or mandatory prepayments under Funding I’s Credit Facility, our 2023 Notes, the 2026 Notes and our 2031 Asset-Backed Debt.

In addition to the asset coverage ratio requirements, the Credit Facility contains various covenants applicable to Funding I, which restricts our ability to borrow funds, and the deed of trust governing our 2023 Notes, the indenture governing our 2026 Notes and the indenture governing our 2031 Asset-Backed Debt contain various covenants which, if not complied with, could accelerate repayment of the 2023 Notes, the 2026 Notes and the 2031 Asset-Backed Debt, respectively. For example, the Credit Facility’s income coverage covenant, or test, requires us to maintain a ratio whereby the aggregate amount of interest received on the portfolio loans must equal at least 125% of the interest payable in respect to the Lenders and other parties. Failure to satisfy the various covenants under the Credit Facility could accelerate repayment under the Credit Facility or otherwise prevent us from receiving distributions under the payment waterfall. This could materially and adversely affect our liquidity, financial condition and results of operations. Funding I’s borrowings under the Credit Facility are collateralized by the assets in Funding I’s investment portfolio. The agreements governing the Credit Facility require Funding I to comply with certain financial and operational covenants. These covenants include:

•

A requirement to retain our status as a RIC;

•

A requirement to maintain a minimum amount of stockholders’ equity; and

•

A requirement that our outstanding borrowings under the Credit Facility not exceed a certain percentage of the value of our portfolio.

Our continued compliance with these covenants depends on many factors, some of which are beyond our control. A material decrease in our NAV in connection with additional borrowings could result in an inability to comply with our obligation to restrict the level of indebtedness that we are able to incur in relation to the value of our assets or to maintain a minimum level of stockholders’ equity in Funding I or to result in the ability of the trustee and our note holders to accelerate amounts due under the deed of trust governing our 2023 Notes, the indenture governing our 2026 Notes or the indenture governing our 2031 Asset-Backed Debt. This could have a material adverse effect on our operations, as it would reduce availability under the Credit Facility and could trigger mandatory prepayment obligations under the terms of the Credit Facility.

We operate in a highly competitive market for investment opportunities.

A number of entities compete with us to make the types of investments that we make in middle-market companies. We compete with public and private funds, including other BDCs, commercial and investment banks, commercial financing companies, CLO funds and, to the extent they provide an alternative form of financing, private equity funds. Additionally, alternative investment vehicles, such as hedge funds, also invest in middle-market companies. As a result, competition for investment opportunities at middle-market companies can be intense. Many of our potential competitors are substantially larger and have considerably greater financial, technical and marketing resources than we do. For example, we believe some competitors have a lower cost of funds and access to funding sources that are not available to us. In addition, some of our competitors have higher risk tolerances or different risk assessments, which could allow them to consider a wider variety of investments and establish more relationships than us. Furthermore, many of our competitors are not subject to the regulatory restrictions that the 1940 Act imposes on us as a BDC. We cannot assure you that the competitive pressures we face will not have a material adverse effect on our business, financial condition and results of operations. Also, as a result of this competition, we may not be able to take advantage of attractive investment opportunities from time to time, and we can offer no assurance that we will be able to identify and make investments that are consistent with our investment objectives.

Participants in our industry compete on several factors, including price, flexibility in transaction structuring, customer service, reputation, market knowledge and speed in decision-making. We do not seek to compete primarily based on the interest rates we offer, and we believe that some of our competitors may make loans with interest rates that are lower than the rates we offer. We may lose investment opportunities if we do not match our competitors’ pricing, terms and structure. However, if we match our competitors’ pricing, terms and structure, we may experience decreased net interest income and increased risk of credit loss.

Our borrowers may default on their payments, which may have a materially negative effect on our financial performance.

Our primary business exposes us to credit risk, and the quality of our portfolio has a significant impact on our earnings. Credit risk is a component of our fair valuation of our portfolio companies. Negative credit events will lead to a decrease in the fair value of our portfolio companies.

In addition, market conditions have affected consumer confidence levels, which may harm the business of our portfolio companies and result in adverse changes in payment patterns. Increased delinquencies and default rates would negatively impact our results of operations. Deterioration in the credit quality of our portfolio could have a material adverse effect on our business, financial condition and results of operations. If interest rates rise, some of our portfolio companies may not be able to pay the escalating interest on our loans and may default.

We make long-term loans and debt investments, which may involve a high degree of repayment risk. Our investments with a deferred interest feature, such as OID income and PIK interest, could represent a higher credit risk than investments that must pay interest in full in cash on a regular basis. We invest in companies that may have limited financial resources, typically are highly leveraged and may be unable to obtain financing from traditional sources. Accordingly, a general economic downturn or severe tightening in the credit markets could materially impact the ability of our borrowers to repay their loans, which could significantly damage our business. Numerous other factors may affect a borrower’s ability to repay its loan, including the failure to meet its business plan or a downturn in its industry. A portfolio company’s failure to satisfy financial or operating covenants imposed by us or other lenders could lead to defaults and, potentially, termination of its loans or foreclosure on the secured assets.

This could trigger cross-defaults under other agreements and jeopardize our portfolio company’s ability to meet its obligations under the loans or debt securities that we hold. In addition, our portfolio companies may have, or may be permitted to incur, other debt that ranks senior to or equally with our securities. This means that payments on such senior-ranking securities may have to be made before we receive any payments on our subordinated loans or debt securities. Deterioration in a borrower’s financial condition and prospects may be accompanied by deterioration in any related collateral and may adversely affect our financial condition and results of operations.

Any unrealized losses we experience on our investment portfolio may be an indication of future realized losses, which could reduce our income available for distribution.

As a BDC, we are required to carry our investments at fair value, which is derived from a market value or, if no market value is ascertainable or if market value does not reflect the fair value of such investment in the bona fide determination of our board of directors, then we would carry our investments at fair value as determined in good faith by or under the direction of our board of directors. Decreases in the market values or fair values of our investments are recorded as unrealized depreciation or loss. Unrealized losses of any given portfolio company could be an indication of such company’s inability in the future to meet its repayment obligations to us.

If the fair value of our portfolio companies reflects unrealized losses that are subsequently realized, we could experience reductions of our income available for distribution in future periods that could materially harm our results of operations and cause a material decline in the value of our publicly traded common stock.

We are dependent upon our Investment Adviser’s key personnel for our future success, and if our Investment Adviser is unable to hire and retain qualified personnel or if our Investment Adviser loses any member of its management team, our ability to achieve our investment objectives could be significantly harmed.

We depend on the diligence, skill and network of business contacts of the senior investment professionals of our Investment Adviser for our future success. We also depend, to a significant extent, on PennantPark Investment Advisers’ access to the investment information and deal flow generated by these senior investment professionals and any others that may be hired by PennantPark Investment Advisers. Subject to the overall supervision of our board of directors, the managers of our Investment Adviser evaluate, negotiate, structure, close and monitor our investments. Our future success depends on the continued service of management personnel of our Investment Adviser. The departure of managers of PennantPark Investment Advisers could have a material adverse effect on our ability to achieve our investment objectives. In addition, we can offer no assurance that PennantPark Investment Advisers will remain our Investment Adviser. The Investment Adviser has the right, under the Investment Management Agreement, to resign at any time upon 60 days’ written notice, whether we have found a replacement or not.

If our Investment Management Agreement is terminated, our costs under new agreements that we enter into may increase. In addition, we will likely incur significant time and expense in locating alternative parties to provide the services we expect to receive under our Investment Management Agreement. Any new investment management agreement would also be subject to approval by our stockholders.

We are exposed to risks associated with changes in interest rates that may affect our cost of capital and net investment income.

Since we borrow money to make investments, our net investment income depends, in part, upon the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we can offer no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income. In periods of rising interest rates, our cost of funds will increase and the interest rate on investments with an interest rate floor will not increase until interest rates exceed the applicable floor, which will reduce our net investment income. We may use interest rate risk management techniques, such as total return swaps and interest rate swaps, in an effort to limit our exposure to interest rate fluctuations. These techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act and applicable commodities laws. These activities may limit our ability to participate in the benefits of lower interest rates with respect to the hedged portfolio. Adverse developments resulting from changes in interest rates or hedging transactions could have a material adverse effect on our business, financial condition and results of operations. Also, we have limited experience in entering into hedging transactions and we will initially have to purchase or develop such expertise, which may diminish the actual benefits of any hedging strategy we employ. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Quantitative and Qualitative Disclosures about Market Risk” for more information.

A rise in the general level of interest rates can be expected to lead to higher interest rates applicable to our debt investments once the interest rate exceeds the applicable floor. Accordingly, an increase in interest rates would make it easier for us to meet or exceed the incentive fee hurdle and may result in a substantial increase of the amount of incentive fees payable to our Investment Adviser with respect to Pre-Incentive Fee Net Investment Income.

General interest rate fluctuations may have a substantial negative impact on our investments, the value of our common stock and our rate of return on invested capital. A reduction in interest rates may result in both lower interest rates on new investments and higher repayments on current investments with higher interest rates, which may have an adverse impact on our net investment income. An increase in interest rates could decrease the value of any investments we hold which earn fixed interest rates or are subject to interest rate floors and also could increase our interest expense on the Credit Facility, thereby decreasing our net investment income. Also, an increase in interest rates available to investors could make an investment in our common stock less attractive if we are not able to increase our dividend rate, which could reduce the value of our common stock.

If general interest rates continue to rise, there is a risk that the portfolio companies in which we hold floating rate securities will be unable to pay escalating interest amounts, which could result in a default under their loan documents with us. Rising interest rates could also cause portfolio companies to shift cash from other productive uses to the payment of interest, which may have a material adverse effect on their business and operations and could, over time, lead to increased defaults. In addition, continued rising interest rates may increase pressure on us to provide fixed rate loans to our portfolio companies, which could adversely affect our net investment income, as any increases in our cost of borrowed funds would not be accompanied by increased interest income from such fixed-rate investments.

The discontinuation and replacement of LIBOR may adversely affect the value of floating-rate debt securities in our portfolio or issued by us.

As of June 30, 2023, no settings of LIBOR continue to be published on a representative basis and publication of many non-U.S. dollar LIBOR settings have been entirely discontinued. On July 29, 2021, the U.S. Federal Reserve, in conjunction with the Alternative Reference Rates Committee, a steering committee comprised of large U.S. financial institutions, recommended replacing U.S. dollar LIBOR with alternative reference rates based on the Secured Overnight Financing Rate (“SOFR”). SOFR significantly differs from LIBOR, both in the actual rate and how it is calculated. Further, on March 15, 2022, the Consolidation Appropriations Act of 2022, which includes the Adjustable Interest Rate (LIBOR) Act (“LIBOR Act”), was signed into law in the United States. This legislation established a uniform benchmark replacement process for certain financial contracts that mature after June 30, 2023 that do not contain clearly defined or practicable LIBOR fallback provisions. The legislation also created a safe harbor that shields lenders from litigation if they choose to utilize a replacement rate recommended by the Board of Governors of the U.S. Federal Reserve. In addition, the U.K. Financial Conduct Authority, which regulates the publisher of LIBOR (ICR Benchmark Administration) has announced that it will require the continued publication of one, three and six month tenors of U.S. dollar LIBOR on a non-representative synthetic basis until the end of September 2024, which may result in certain non-U.S. law-governed contracts and U.S. law-governed contracts not being covered by the federal legislation remaining on synthetic U.S. dollar LIBOR until the end of this period. The transition from LIBOR as a result of certain statutory regimes (e.g., N.Y. Gen. Oblig. Law § 18-401 or the Adjustable Interest Rate (LIBOR) Act) or the use of synthetic LIBOR in floating-rate debt securities in our portfolio or issued by us and could have a material and adverse impact on the value or liquidity of those instruments.

Given the inherent differences between LIBOR and SOFR, or any other alternative benchmark rate established, there are many uncertainties regarding a transition from LIBOR, including, but not limited to, the need to amend contracts which continue to reference LIBOR and how the transition from LIBOR will impact the cost of variable rate debt and certain derivative financial instruments. In addition, SOFR or other replacement rates may fail to gain market acceptance. Any failure of SOFR or alternative reference rates to gain market acceptance could adversely affect the return on, value of and market for securities linked to such rates. The elimination of LIBOR, the replacement of LIBOR with any alternative reference rate, such as SOFR (or an alternative reference rate based on SOFR) or any other changes or reforms to floating rate benchmarks could have an adverse impact on the market value of and/or transferability of any floating-rate debt securities in our portfolio or issued by us.

The IRS has issued regulations regarding the tax consequences of the transition from LIBOR or another interbank offered rate (“IBOR”) to a new reference rate in debt instruments and non-debt contracts. Under the regulations, alteration or modification of the terms of a debt instrument to replace an operative rate that uses a discontinued IBOR with a qualified rate (as defined in the regulations) including true up payments equalizing the fair market value of contracts before and after such IBOR transition, to add a qualified rate as a fallback rate to a contract whose operative rate uses a discontinued IBOR or to replace a fallback rate that uses a discontinued IBOR with a qualified rate would not be taxable. The IRS may provide additional guidance, with potential retroactive effect.

Our financial condition and results of operation depend on our ability to manage future growth effectively.

Our ability to achieve our investment objectives depends on our ability to grow, which depends, in turn, on our Investment Adviser’s ability to identify, invest in and monitor companies that meet our investment selection criteria. Accomplishing this result on a cost-effective basis is largely a function of our Investment Adviser’s structuring of the investment process, its ability to provide competent, attentive and efficient services to us and our access to financing on acceptable terms. The management team of PennantPark Investment Advisers has substantial responsibilities under our Investment Management Agreement. In order for us to grow, our Investment Adviser will need to hire, train, supervise and manage new employees. However, we can offer no assurance that any current or future employees will contribute effectively to the work of, or remain associated with, the Investment Adviser. We caution you that the principals of our Investment Adviser or Administrator may also be called upon to provide and currently do provide significant managerial assistance to portfolio companies and other investment vehicles, including other BDCs, which are managed by the Investment Adviser. Such demands on their time may distract them or slow our rate of investment. Any failure to manage our future growth effectively could have a material adverse effect on our business, financial condition and results of operations.

We are highly dependent on information systems and systems failures could have a material adverse effect on our business, financial condition and results of operations.

Our business depends on the communications and information systems, including financial and accounting systems, of the Investment Adviser, the Administrator and our external service providers. Any failure or interruption of such systems could cause delays or other problems in our activities. This, in turn, could have a material adverse effect on our business, financial condition and results of operations.

If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would harm our business and the trading price of our common stock.

Effective internal controls over financial reporting are necessary for us to provide reliable financial reports and, together with adequate disclosure controls and procedures, are designed to prevent fraud. Any failure to implement required new or improved controls, or difficulties encountered in their implementation could cause us to fail to meet our reporting obligations. In addition, any testing by us conducted in connection with Section 404 of the Sarbanes-Oxley Act of 2002, or the subsequent testing by our independent registered public accounting firm (when undertaken, as noted below), may reveal deficiencies in our internal controls over financial reporting that are deemed to be significant deficiencies, material weaknesses or that may require prospective or retroactive changes to our consolidated financial statements or identify other areas for further attention or improvement. Inferior internal controls could also cause investors and lenders to lose confidence in our reported financial information, which could have a negative effect on the trading price of our common stock.

We have identified material weaknesses in our internal controls over financial reporting. If we fail to remediate these material weaknesses, our ability to report our financial condition and results of operations accurately and on a timely basis could be adversely affected.

We have identified material weaknesses in our internal controls over financial reporting, and management has determined that, as of September 30, 2023, we do not maintain effective internal control over financial reporting. These material weaknesses and our remediation efforts are described in Management’s Report on Internal Control Over Financial Reporting, which appears on page 58 of this Form 10-K. We cannot assure you that we will adequately remediate the material weaknesses or that additional material weaknesses in our internal controls will not be identified in the future. Any failure to maintain or implement required new or improved controls, or any difficulties we encounter in their implementation, could result in additional material weaknesses, or could result in material misstatements in our financial statements. These misstatements could result in restatements of our financial statements, cause us to fail to meet our reporting obligations or cause investors to lose confidence in our reported financial information.

We are in the process of remediating the identified material weaknesses in our internal controls, but we are unable at this time to estimate when the remediation effort will be completed. If we fail to remediate these material weaknesses, there will continue to be an increased risk that our future financial statements could contain errors that will be undetected. Further and continued determinations that there are material weaknesses in the effectiveness of our internal controls could impact the operations of our business including our ability to obtain financing, the cost of any financing we obtain or require additional expenditures of resources to comply with applicable requirements.

We may not replicate the historical performance of other investment companies and funds with which our senior and other investment professionals have been or are affiliated.

The 1940 Act imposes numerous constraints on the investment activities of BDCs. For example, BDCs are required to invest at least 70% of their total assets primarily in securities of U.S. private companies or thinly traded public companies (i.e., public companies with a market capitalization of less than $250 million), cash, cash equivalents, U.S. government securities and high-quality debt investments that mature in one year or less. These constraints may hinder the Investment Adviser’s ability to take advantage of attractive investment opportunities and to achieve our investment objectives. In addition, the investment philosophy and techniques used by the Investment Adviser may differ from those used by other investment companies and funds advised by the Investment Adviser. Accordingly, we can offer no assurance that we will replicate the historical performance of other investment companies and funds with which our senior and other investment professionals have been affiliated, and we caution that our investment returns could be substantially lower than the returns achieved by such other companies.

Any failure on our part to maintain our status as a BDC would reduce our operating flexibility.

If we do not remain a BDC, we might be regulated as a closed-end investment company under the 1940 Act, which would subject us to substantially more regulatory restrictions under the 1940 Act and correspondingly decrease our operating flexibility, which could have a material adverse effect on our business, financial condition and results of operations.

Loss of RIC tax status would substantially reduce our net assets and income available for debt service and distributions.

We have operated and continue to operate so as to maintain our election to be treated as a RIC under Subchapter M of the Code. If we meet the 90% Income Test, the Diversification Tests, and the Annual Distribution Requirement, we generally will not be subject to corporate-level income taxation on income we timely distribute, or are deemed to distribute, as dividends for U.S. federal income tax purposes to our stockholders. We would cease to qualify for such tax treatment if we were unable to comply with these requirements. In addition, we may have difficulty meeting our Annual Distribution Requirement to our stockholders because, in certain cases, we may recognize income before or without receiving cash representing such income. If we fail to qualify as a RIC, we will have to pay corporate-level taxes on all of our income whether or not we distribute it, which would substantially reduce the amount of income available for debt service as well as reduce and/or affect the character and amount of our distributions to our stockholders. Even if we qualify as a RIC, we generally will be subject to a 4% nondeductible excise tax if we do not distribute to our stockholders in respect of each calendar year an amount at least equal to the Excise Tax Avoidance Requirement.

We may have difficulty paying our Annual Distribution Requirement if we recognize income before or without receiving cash representing such income.

For federal income tax purposes, we include in income certain amounts that we have not yet received in cash, such as OID and PIK interest, which represents interest added to the loan balance and due at the end of the loan term. OID, which could be significant relative to our overall investment assets, and increases in loan balances as a result of PIK interest will be included in income before we receive any corresponding cash payments. We also may be required to include in income certain other amounts that we will not receive in cash, such as amounts attributable to foreign currency transactions. Our investments with a deferred interest feature, such as PIK interest, may represent a higher credit risk than loans for which interest must be paid in full in cash on a regular basis. For example, even if the accounting conditions for income accrual are met, the borrower could still default when our actual collection is scheduled to occur upon maturity of the obligation.

The part of the incentive fee payable by us that relates to our net investment income is computed and paid on income that may include interest that has been accrued but not yet received in cash. If a portfolio company defaults on a loan that is structured to provide PIK or OID interest, it is possible that accrued interest previously used in the calculation of the incentive fee will become uncollectible.

If we are unable to satisfy the Annual Distribution Requirement, we may have to sell some of our investments at times or prices we would not consider advantageous, or raise additional debt or equity capital or reduce new investment originations to meet these distribution requirements, which could have a material adverse effect on our business, financial condition and results of operations. If we are not able to obtain cash from other sources, we may lose our ability to be subject to tax as a RIC and thus be subject to corporate-level income tax.

Legislation enacted in 2018 allows us to incur additional leverage.

A BDC has historically been able to issue “senior securities,” including borrowing money from banks or other financial institutions, only in amounts such that its asset coverage, as defined in Section 61(a)(2) of the 1940 Act, equals at least 200% after such incurrence or issuance. In March 2018, the Consolidated Appropriations Act of 2018 (which includes the SBCAA) was enacted which amended the 1940 Act to decrease this percentage from 200% (i.e., $1 of debt outstanding for each $1 of equity) to 150% (i.e., $2 of debt outstanding for each $1 of equity) for a BDC that has received either stockholder approval or approval of a “required majority” (as defined in Section 57(o) of the 1940 Act) of its board of directors of the application of such lower asset coverage ratio to the BDC. On April 5, 2018, our board of directors approved such reduction. As such, we are able to incur additional indebtedness so long as we comply with the applicable disclosure requirement, which may increase the risk of investing in us. Under the 200% minimum asset coverage ratio, we were permitted to borrow up to one dollar for investment purposes for every one dollar of investor equity and, under the 150% minimum asset coverage ratio, we are permitted to borrow up to two dollars for investment purposes for every one dollar of investor equity. In other words, Section 61(a)(2) of the 1940 Act permits BDCs to potentially increase their debt-to-equity ratio from a maximum of 1-to-1 to a maximum of 2-to-1. In addition, since our base management fee is determined and payable based upon our average adjusted gross assets, which includes any borrowings for investment purposes, our base management fee expense may increase if we incur additional leverage.

Because we intend to distribute substantially all of our income to our stockholders to maintain our ability to be subject to tax as a RIC, we may need to raise additional capital to finance our growth. If funds are not available to us, we may need to curtail new investments, and our common stock value could decline.

In connection with satisfying the requirements to be subject to tax as a RIC for federal income tax purposes, we intend to distribute to our stockholders substantially all of our investment company taxable income and net capital gains each taxable year. However, we may retain all or a portion of our net capital gains and incur applicable income taxes with respect thereto and elect to treat such retained net capital gains as deemed dividend distributions to our stockholders.

As noted above, on April 5, 2018, our board of directors, including a “required majority” (as such term is defined in Section 57(o) of the 1940 Act), approved a reduction of our asset coverage ratio from 200% to 150%. The asset coverage requirement applicable to us for senior securities was reduced from 200% (i.e., $1 of debt outstanding for each $1 of equity) to 150% (i.e., $2 of debt outstanding for each $1 of equity). If we incur additional indebtedness under this provision, the risk of investing in us will increase. If the value of our assets declines, we may be unable to satisfy this asset coverage test. If that happens, we may be required to sell a portion of our investments or sell additional common stock and, depending on the nature of our leverage, to repay a portion of our indebtedness at a time when such sales and repayments may be disadvantageous. In addition, the issuance of additional securities could dilute the percentage ownership of our current stockholders in us.

We are partially dependent on our subsidiary Funding I for cash distributions to enable us to meet the distribution requirements in order to permit us to be subject to tax as a RIC. In this regard, Funding I is limited by its covenants from making certain distributions to us that may be necessary to fulfill our requirements to be subject to tax as a RIC. In such case, we would need to request a waiver of these covenants’ restrictions for Funding I to make certain distributions to enable us to be subject to tax as a RIC. We cannot assure you that Funding I will be granted such a waiver, and if Funding I is unable to obtain a waiver, compliance with the covenants may cause us to incur a corporate-level income tax.

Regulations governing our operation as a BDC will affect our ability to, and the way in which we, raise additional capital.

Our business requires a substantial amount of capital. We may acquire additional capital from the issuance of additional senior securities or other indebtedness, the issuance of additional shares of our common stock, the issuance of warrants or subscription rights to purchase certain of our securities, or from securitization transactions. However, we may not be able to raise additional capital in the future on favorable terms or at all. We may issue debt securities or preferred securities, which we refer to collectively as “senior securities,” and we may borrow money from banks, or other financial institutions, up to the maximum amount permitted by the 1940 Act. Under the 1940 Act, the asset coverage ratio requirements permit us to issue senior securities or incur indebtedness subject to certain limitations. Our ability to pay distributions or issue additional senior securities would be restricted if our asset coverage ratio was not met. If the value of our assets declines, we may be unable to satisfy the asset coverage ratio. If that happens, we may be required to liquidate a portion of our investments and repay a portion of our indebtedness at a time when such sales may be disadvantageous, which could materially harm our business, financial condition and results of operations.

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Senior Securities. As a result of issuing senior securities, including our 2023 Notes and our 2026 Notes, we are exposed to typical risks associated with leverage, including an increased risk of loss. If we issue preferred securities, they would rank “senior” to common stock in our capital structure. Preferred stockholders would have separate voting rights and may have rights, preferences or privileges more favorable than those of holders of our common stock.

Furthermore, the issuance of preferred securities could have the adverse effect of delaying, deferring or preventing a transaction or a change of control that might involve a premium price for our common stockholders or otherwise be in your best interest. Our senior securities may include conversion features that cause them to bear risks more closely associated with an investment in our common stock.

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Additional Common Stock. Our board of directors may decide to issue common stock to finance our operations rather than issuing debt or other senior securities. As a BDC, we are generally not able to issue our common stock at a price below NAV per share without first obtaining certain approvals from our stockholders and our board of directors. Also, subject to the requirements of the 1940 Act, we may issue rights to acquire our common stock at a price below the current NAV per share of the common stock if our board of directors determines that such sale is in our best interests and the best interests of our common stockholders. In any such case, the price at which our securities are to be issued and sold may not be less than a price that, in the determination of our board of directors, closely approximates the market value of such securities. However, when required to be undertaken, the procedures used by the board of directors to determine the NAV per share of our common stock within 48 hours of each offering of our common stock may differ materially from and will necessarily be more abbreviated than the procedures used by the board of directors to determine the NAV per share of our common stock at the end of each quarter because there is an extensive process each quarter to determine the NAV per share of our common stock which cannot be completed in 48 hours. The quarterly process includes preliminary valuation conclusions, engagement of independent valuation firms and review by those firms of preliminary valuation conclusions. By contrast, the procedures in connection with an offering may yield a NAV that is less precise than the NAV determined at the end of each quarter. We will not offer transferable subscription rights to our stockholders at a price equivalent to less than the then current NAV per share of common stock, excluding underwriting commissions, unless we first file a post-effective amendment that is declared effective by the SEC with respect to such issuance and the common stock to be purchased in connection with such rights represents no more than one-third of our outstanding common stock at the time such rights are issued. In addition, for us to file a post-effective amendment to a registration statement on Form N-2, we must then be qualified to register our securities under the requirements of Form S-3. We may actually issue shares above or below a future NAV. If we raise additional funds by issuing more common stock or warrants or senior securities convertible into, or exchangeable for, our common stock, the percentage ownership of our common stockholders at that time would decrease, and our common stockholders would experience voting dilution.

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Securitization. As a result of the completion of the Debt Securitization, we are exposed to typical risks associated with the securitization of loans to generate cash for funding new investments. As applicable accounting pronouncements and SEC staff guidance requires us to consolidate the Securitization Issuers’ financial statements with our financial statements, any debt issued by the Securitization Issuers would be generally treated as if it were issued by us for purposes of the asset coverage ratio applicable to us. We retain all of the equity in the Securitization Issuers and our retained equity would be exposed to any losses on the portfolio of loans before any of the debt securities would be exposed to such losses. Accordingly, if the pool of loans experienced a low level of losses due to defaults, we would earn an incremental amount of income on our retained equity but we would be exposed, up to the amount of equity we retained, to that proportion of any losses we would have experienced if we had continued to hold the loans in our portfolio.

We currently use borrowed funds to make investments and are exposed to the typical risks associated with leverage.

Because we borrow funds to make investments, we are exposed to increased risk of loss due to our use of debt to make investments. A decrease in the value of our investments will have a greater negative impact on the NAV attributable to our common stock than it would if we did not use debt. Our ability to pay distributions may be restricted when our asset coverage ratio is not met and any cash that we use to service our indebtedness is not available for distribution to our common stockholders.

Our current debt is governed by the terms of the Credit Facility, the deed of trust governing the 2023 Notes, the indenture governing our 2026 Notes and the indenture governing the 2031 Asset-Backed Debt, and future debt may be governed by an indenture or other instrument containing covenants restricting our operating flexibility. We, and indirectly our stockholders, bear the cost of issuing and servicing debt. Any convertible or exchangeable securities that we issue in the future may have rights, preferences and privileges more favorable than those of our common stock and may also carry leverage related risks. Leverage magnifies the potential risks for loss and the risks of investing in us, both as detailed below.

If we incur additional debt, it could increase the risk of investing in our shares.

We have indebtedness outstanding pursuant to the Credit Facility, 2023 Notes, 2026 Notes and the 2031 Asset-Backed Debt and expect in the future to borrow additional amounts under the Credit Facility or otherwise, subject to market availability, and, may increase the size of the Credit Facility. We cannot assure you that our leverage will remain at current levels. The amount of leverage that we employ will depend upon our assessment of the market and other factors at the time of any proposed borrowing. Lenders have fixed dollar claims on our assets that are superior to the claims of our common stockholders or preferred stockholders, if any, and we have granted a security interest in Funding I’s assets in connection with the Credit Facility borrowings. In the case of a liquidation event, those lenders would receive proceeds before our stockholders. Any future debt issuance will increase our leverage and may be subordinate to the Credit Facility. In addition, borrowings or debt issuances, also known as leverage, magnify the potential for loss or gain on amounts invested and, therefore, increase the risks associated with investing in our securities. Leverage is generally considered a speculative investment technique. If the value of our assets decreases, then the use of leverage would cause the NAV attributable to our common stock to decline more than it otherwise would have had we not utilized leverage. Similarly, any decrease in our revenue would cause our net income to decline more than it would have had we not borrowed funds and could negatively affect our ability to make distributions on our common or preferred stock. Our ability to service any debt that we incur depends largely on our financial performance and is subject to prevailing economic conditions and competitive pressures.

As noted above, on April 5, 2018, our board of directors, including a “required majority” (as such term is defined in Section 57(o) of the 1940 Act), and our stockholders, respectively, approved a reduction of our asset coverage ratio. As a result, the asset coverage requirement applicable to us for senior securities was reduced from 200% to 150%, so long as we comply with the applicable disclosure requirements, which may increase the risk of investing in us.

As of September 30, 2023 and 2022, our asset coverage ratio, as computed in accordance with the 1940 Act, was 230% and 178%, respectively. Since our leverage was 76% and 128% of our net assets as of September 30, 2023 and 2022, respectively, we would have to receive an annual return of at least 2.4% and 2.2%, respectively, to cover annual interest payments.

As of September 30, 2023, we had outstanding borrowings of $9.4 million under the Credit Facility, $76.2 million outstanding under our 2023 Notes, $185.0 million under our 2026 Notes, and $228.0 million outstanding under the 2031 Asset-Backed Debt. Our consolidated debt outstanding was $498.6 million and had a weighted average annual interest rate at the time of 5.6%, exclusive of the fees on the undrawn commitment on the Credit Facility. This example is for illustrative purposes only, and actual interest rates on the Credit Facility or any future borrowings are likely to fluctuate. The costs associated with our borrowings, including any increase in the management fee or incentive fee payable to our Investment Adviser, are and will be borne by our stockholders.

The following table is designed to illustrate the effect on the return to a holder of our common stock of the leverage created by our use of borrowing as of September 30, 2023 of 76% of total assets (including such borrowed funds), at the current interest rate at the time of 5.6%, and assumes hypothetical annual returns on our portfolio of minus 10 to plus 10 percent. The table also assumes that we will maintain a constant level of leverage and weighted average interest rate. The amount of leverage and cost of borrowing that we use will vary from time to time. As can be seen, leverage generally increases the return to stockholders when the portfolio return is positive and decreases return when the portfolio return is negative. Actual returns may be greater or less than those appearing in the table.


Assumed return on portfolio (net of expenses) (1)	(10.0	)%	(5.0	)%	0	%	5.0	%	10.0	%
Corresponding return to common stockholders (2)	(22.3	)%	(13.3	)%	(4.3	)%	4.7	%	13.7	%

(1)

The assumed portfolio return is required by regulation of the SEC and is not a prediction of, and does not represent, our projected or actual performance.

(2)

In order to compute the “corresponding return to common stockholders,” the “assumed return on portfolio” is multiplied by the total value of our assets at the beginning of the period to obtain an assumed return to us. From this amount, all interest expense expected to be accrued during the period is subtracted to determine the return available to stockholders. The return available to stockholders is then divided by the total value of our net assets as of the beginning of the period to determine the “corresponding return to common stockholders.”

We may in the future determine to fund a portion of our investments with preferred stock, which is another form of leverage and would magnify the potential for loss and the risks of investing in us.

Preferred stock, which is another form of leverage, has the same risks to our common stockholders as borrowings because the distributions on any preferred stock we issue must be cumulative. If we issue preferred securities they would rank “senior” to common stock in our capital structure. Payment of distributions on, and repayment of the liquidation preference of, such preferred stock would typically take preference over any distributions or other payments to our common stockholders. Also, preferred stockholders are not typically subject to any of our expenses or losses and are not entitled to participate in any income or appreciation in excess of their stated preference. Furthermore, preferred stockholders would have separate voting rights and may have rights, preferences or privileges more favorable than those of our common stockholders. Also, the issuance of preferred securities could have the adverse effect of delaying, deferring or preventing a transaction or a change of control that might involve a premium price for our common stockholders or otherwise be in the best interest of stockholders.

We may in the future determine to fund a portion of our investments with debt securities, which would magnify the potential for loss and the risks of investing in us.

As a result of any issuance of debt securities and borrowings under the Credit Facility, the 2023 Notes, the 2026 Notes and the 2031 Asset-Backed Debt, we would be exposed to typical risks associated with leverage, including an increased risk of loss and an increase in expenses, which are ultimately borne by our common stockholders. Payment of interest on such debt securities must take preference over any other distributions or other payments to our common stockholders. If we issue additional debt securities in the future, it is likely that such securities will be governed by an indenture or other instrument containing covenants restricting our operating flexibility. In addition, such securities may be rated by rating agencies, and in obtaining a rating for such securities, we may be required to abide by operating and investment guidelines that could further restrict our operating flexibility. Furthermore, any cash that we use to service our indebtedness would not be available for the payment of distributions to our common stockholders.

Our credit ratings may not reflect all risks of an investment in our debt securities.

Our credit ratings, if any, are an assessment of our ability to pay our obligations. Consequently, real or anticipated changes in our credit ratings will generally affect the market value of any publicly issued debt securities. Our credit ratings may not reflect the potential impact of risks related to market conditions or other factors discussed above on the market value of, or trading market for, any publicly issued debt securities. Rating agencies have reviewed, and may continue to review, our credit ratings and those of other business development companies in light of the SBCAA as well as any corresponding changes to asset coverage ratios and, in certain cases, downgrade such ratings. Such a downgrade in our credit ratings may adversely affect our securities.

Market conditions may make it difficult to extend the maturity of or refinance our existing indebtedness and any failure to do so could have a material adverse effect on our business.

Our Credit Facility expires in August 2026. We utilize proceeds from the Credit Facility to make investments in our portfolio companies. The duration of many of our investments exceeds the duration of our indebtedness under the Credit Facility. This means that we will have to extend the maturity of the Credit Facility or refinance our indebtedness under the Credit Facility in order to avoid selling investments at maturity of the Credit Facility, at which time such sales may be at prices that are disadvantageous to us, which could materially damage our business. In addition, future market conditions may affect our ability to renew or refinance the Credit Facility on terms as favorable as those in our existing Credit Facility. If we fail to extend or refinance the indebtedness outstanding under the Credit Facility by the time it becomes due and payable, the administrative agent of the Credit Facility may elect to exercise various remedies, including the sale of all or a portion of the collateral securing the Credit Facility, subject to certain restrictions, any of which could have a material adverse effect on our business, financial condition and results of operations. The illiquidity of our investments may make it difficult for us to sell such investments. If we are required to sell our investments on short-term notice, we may not receive the value that we have recorded for such investments, and this could materially affect our results of operations.

We may not receive cash on our equity interests from Funding I.

Except for management fees that PennantPark Investment Advisers has irrevocably directed to be paid to us, we receive cash from Funding I only to the extent that we receive distributions on our equity interests in Funding I. Funding I may make equity distributions on such interests only to the extent permitted by the payment priority provisions of the Credit Facility. The Credit Facility generally provides that payments on such interests may not be made on any payment date unless all amounts owing to the Lenders and other secured parties are paid in full. In the event that we fail to receive cash from Funding I, we could be unable to make distributions to our stockholders in amounts sufficient to maintain our ability to be subject to tax as a RIC. We also could be forced to sell investments in portfolio companies at less than their fair value in order to continue making such distributions.

There are significant potential conflicts of interest which could impact our investment returns.

The professionals of the Investment Adviser and Administrator may serve as officers, directors or principals of entities that operate in the same or a related line of business as we do or of investment funds managed by affiliates of us that currently exist or may be formed in the future. The Investment Adviser and Administrator may be engaged by such funds at any time and without the prior approval of our stockholders or our board of directors. Our board of directors monitors any potential conflict that may arise upon such a development. Accordingly, if this occurs, they may have obligations to investors in those entities, the fulfillment of which might not be in the best interests of us or our stockholders. Currently, the executive officers and directors, as well as the current senior investment professionals of the Investment Adviser, may serve as officers and directors of our affiliated funds. In addition, we note that any affiliated investment vehicles currently formed or formed in the future and managed by the Investment Adviser or its affiliates may have overlapping investment objectives with our own and, accordingly, may invest in asset classes similar to those targeted by us. As a result, the Investment Adviser may face conflicts in allocating investment opportunities between us and such other entities. Although the Investment Adviser will endeavor to allocate investment opportunities in a fair and equitable manner, it is possible that, in the future, we may not be given the opportunity to participate in investments made by investment funds managed by the Investment Adviser or an investment manager affiliated with the Investment Adviser. In any such case, when the Investment Adviser identifies an investment, it is forced to choose which investment fund should make the investment. We may co-invest on a concurrent basis with any other affiliates that the Investment Adviser currently has or forms in the future, subject to compliance with applicable regulations and regulatory guidance, our exemptive relief and our allocation procedures.

In the ordinary course of our investing activities, we pay investment advisory and incentive fees to the Investment Adviser, and reimburse the Investment Adviser for certain expenses it incurs. As a result, investors in our common stock invest on a “gross” basis and receive distributions on a “net” basis after expenses, resulting in a lower rate of return than an investor might achieve through direct investments. Accordingly, there may be times when the management team of the Investment Adviser has interests that differ from those of our stockholders, giving rise to a conflict. For example, the Investment Adviser may seek to invest in more speculative investments in order to increase its incentive fee, which practice could result in higher investment losses, particularly during economic downturns.

We have entered into the License Agreement with PennantPark Investment Advisers, pursuant to which the Investment Adviser has agreed to grant us a royalty-free non-exclusive license to use the name “PennantPark.” The License Agreement will expire (i) upon expiration or termination of the Investment Management Agreement, (ii) if the Investment Adviser ceases to serve as our investment adviser, (iii) by either party upon 60 days’ written notice or (iv) by the Investment Adviser at any time in the event we assign or attempt to assign or sublicense the License Agreement or any of our rights or duties thereunder without the prior written consent of the Investment Adviser. Other than with respect to this limited license, we have no legal right to the “PennantPark” name.

In addition, we pay PennantPark Investment Administration, an affiliate of the Investment Adviser, our allocable portion of overhead and other expenses incurred by PennantPark Investment Administration in performing its obligations under the Administration Agreement, including rent and our allocable portion of the cost of our Chief Financial Officer and Chief Compliance Officer and their respective staffs. These arrangements may create conflicts of interest that our board of directors must monitor.

We are subject to risks associated with cybersecurity and cyber incidents.

Our business relies on secure information technology systems. These systems are subject to potential attacks, including through adverse events that threaten the confidentiality, integrity or availability of our information resources (i.e., cyber incidents). These attacks could involve gaining unauthorized access to our information systems for purposes of misappropriating assets, stealing confidential information, corrupting data or causing operational disruption and result in disrupted operations, misstated or unreliable financial data, liability for stolen assets or information, increased cybersecurity protection and insurance costs, litigation and damage to our business relationships, any of which could have a material adverse effect on our business, financial condition and results of operations. As our reliance on technology has increased, so have the risks posed to our information systems, both internal and those provided by the Investment Adviser and third-party service providers. We, along with our Investment Adviser, have implemented processes, procedures and internal controls to help mitigate cybersecurity risks and cyber intrusions, but these measures, as well as our increased awareness of the nature and extent of the risk of a cyber incident, may be ineffective and do not guarantee that a cyber incident will not occur or that our financial results, operations or confidential information will not be negatively impacted by such an incident. In addition, the costs related to cyber or other security threats or disruptions may not be fully insured or indemnified by other means. Furthermore, cybersecurity continues to be a key priority for regulators around the world, and some jurisdictions have enacted laws requiring companies to notify individuals of data security breaches involving certain types of personal data. If we fail to comply with the relevant laws and regulations, we could suffer financial losses, a disruption of our businesses, liability to investors, regulatory intervention or reputational damage.

We may experience fluctuations in our quarterly results.

We could experience fluctuations in our quarterly operating results due to a number of factors, including the interest rate payable on the debt securities we acquire, the default rate on such securities, the level of our expenses, variations in, and the timing of the recognition of, realized and unrealized gains or losses, the degree to which we encounter competition in our markets and general economic conditions. However, as a result of our irrevocable election to apply the fair value option to the Credit Facility, future decreases of fair value of our debt is expected to have a corresponding increase to our NAV. Similarly, future increases in the fair value of our debt may have a corresponding decrease to our NAV. Any future indebtedness that we elect the fair value option for may have similar effects on our NAV as the Credit Facility. This is expected to mitigate volatility in our earnings and NAV. As a result, results for any period should not be relied upon as being indicative of future performance.

We may in the future issue securities for which there is no public market and for which we expect no public market to develop.

In order to raise additional capital, we may issue debt or other securities for which no public market exists, and for which no public market is expected to develop. If we issue shares of our common stock as a component of a unit security, we would expect the common stock to separate from the other securities in such unit after a period of time or upon occurrence of an event and to trade publicly on The New York Stock Exchange and the TASE, which may cause volatility in our publicly traded common stock. To the extent we issue securities for which no public market exists and for which no public market develops, a purchaser of such securities may not be able to liquidate the investment without considerable delay, if at all. If a market should develop for our debt and other securities, the price may be highly volatile, and our debt and other securities may lose value.

If we issue preferred stock, debt securities or convertible debt securities the NAV and market value of our common stock may become more volatile.

We cannot assure you that the issuance of preferred stock and/or debt securities would result in a higher yield or return to the holders of our common stock. The issuance of preferred stock, debt securities and/or convertible debt would likely cause the NAV and market value of our common stock to become more volatile. If the dividend rate on the preferred stock, or the interest rate on the debt securities, were to approach the net rate of return on our investment portfolio, the benefit of leverage to the holders of our common stock would be reduced or entirely eliminated. If the dividend rate on the preferred stock, or the interest rate on the debt securities, were to exceed the net rate of return on our portfolio, the use of leverage would result in a lower rate of return to the holders of common stock than if we had not issued the preferred stock or debt securities. Any decline in the NAV of our investment would be borne entirely by the holders of our common stock. Therefore, if the market value of our portfolio were to decline, the leverage would result in a greater decrease in NAV to the holders of our common stock than if we were not leveraged through the issuance of preferred stock, debt securities or convertible debt. This decline in NAV would also tend to cause a greater decline in the market price for our common stock.

There is also a risk that, in the event of a sharp decline in the value of our net assets, we would be in danger of failing to maintain required asset coverage ratios or other covenants which may be required by the preferred stock, debt securities and/or convertible debt or risk a downgrade in the ratings of the preferred stock, debt securities and/or convertible debt or our current investment income might not be sufficient to meet the dividend requirements on the preferred stock or the interest payments on the debt securities. In order to counteract such an event, we might need to liquidate investments in order to fund redemption of some or all of the preferred stock, debt securities or convertible debt. In addition, we would pay (and the holders of our common stock would bear) all costs and expenses relating to the issuance and ongoing maintenance of the preferred stock, debt securities, convertible debt or any combination of these securities. Holders of preferred stock, debt securities, convertible debt or any combination of these securities may have different interests than holders of common stock and may at times have disproportionate influence over our business.

The ability to sell investments held by Funding I is limited.

The Credit Facility places restrictions on the collateral manager’s ability to sell investments. As a result, there may be times or circumstances during which the collateral manager is unable to sell investments or take other actions that might be in our best interests.

The trading market or market value of any publicly issued debt or convertible debt securities may be volatile.

If we publicly issue debt or convertible debt securities, they initially will not have an established trading market. We cannot assure investors that a trading market for our publicly issued debt or convertible debt securities would develop or be maintained if developed. In addition to our creditworthiness, many factors may have a material adverse effect on the trading market for, and market value of, our publicly issued debt or convertible debt securities.

These factors include the following:

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the time remaining to the maturity of these debt securities;

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the outstanding principal amount of debt securities with terms identical or similar to these debt securities;

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the supply of debt securities trading in the secondary market, if any;

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the redemption, repayment or convertible features, if any, of these debt securities;

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the level, direction and volatility of market interest rates; and

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market rates of interest higher or lower than rates borne by the debt securities.

There also may be a limited number of buyers for our debt securities. This too may have a material adverse effect on the market value of the debt securities or the trading market for the debt securities. Our debt securities may include convertible features that cause them to more closely bear risks associated with an investment in our common stock.

Terms relating to debt redemption may have a material adverse effect on the return on any debt securities.

If we issue debt securities that are redeemable at our option, we may choose to redeem the debt securities at times when prevailing interest rates are lower than the interest rate paid on the debt securities. In addition, if the debt securities are subject to mandatory redemption, we may be required to redeem the debt securities at times when prevailing interest rates are lower than the interest rate paid on the debt securities. In this circumstance, a holder of our debt securities may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as the debt securities being redeemed.

If we issue subscription rights or warrants for our common stock, your interest in us may be diluted as a result of such rights or warrants offering.

Stockholders who do not fully exercise rights or warrants issued to them in an offering of subscription rights or warrants to purchase our common stock should expect that they will, at the completion of an offering, own a smaller proportional interest in us than would otherwise be the case if they fully exercised their rights or warrants. We cannot state precisely the amount of any such dilution in share ownership because we do not know what proportion of the common stock would be purchased as a result of any such offering.

In addition, if the subscription price or warrant exercise price is less than our NAV per share of common stock at the time of an offering, then our stockholders would experience an immediate dilution of the aggregate NAV of their shares as a result of the offering. The amount of any such decrease in NAV is not predictable because it is not known at this time what the subscription price, warrant exercise price or NAV per share will be on the expiration date of such rights offering or what proportion of our common stock will be purchased as a result of any such offering.

Changes in laws or regulations governing our operations or those of our portfolio companies may adversely affect our business.

We and our portfolio companies are subject to laws and regulations at the U.S. federal, state and local levels and, in some cases, foreign levels. These laws and regulations, as well as their interpretation, may change from time to time, and new laws, regulations and interpretations may come into effect. Accordingly, any change in law and regulations, changes in administration or control of U.S. Congress, changes in interpretations, or newly enacted laws or regulations could have a material adverse effect on our business or the business of our portfolio companies. See “Business—Regulation” for more information.

Over the past several years, there also has been increasing regulatory attention to the extension of credit outside of the traditional banking sector, raising the possibility that some portion of the non-bank financial sector may be subject to new regulation. While it cannot be known at this time whether any regulation will be implemented or what form it will take, increased regulation of non-bank lending could be materially adverse to our business, financial conditions and results of operation. We may experience fluctuations in our quarterly results.

The United States may also potentially withdraw from or renegotiate various trade agreements and take other actions that would change current trade policies of the United States. We cannot predict which, if any, of these actions will be taken or, if taken, their effect on the financial stability of the United States. Such actions could have a material adverse effect on our business, financial condition and results of operations.

Our board of directors may change our investment objectives, operating policies and strategies without prior notice or stockholder approval.

Our board of directors has the authority to modify or waive certain of our operating policies and strategies without prior notice and without stockholder approval (except as required by the 1940 Act). However, absent stockholder approval, under the 1940 Act, we may not change the nature of our business so as to cease to be, or withdraw our election as, a BDC. We cannot predict the effect any changes to our current operating policies and strategies would have on our business, operating results and value of our common stock. Nevertheless, the effects may adversely affect our business and impact our ability to make distributions.

Our business and operations could be negatively affected if we become subject to stockholder activism, which could cause us to incur significant expense, hinder the execution of our investment strategy or impact our stock price.

Stockholder activism, which could take many forms, including making public demands that we consider certain strategic alternatives, engaging in public campaigns to attempt to influence our corporate governance and/or our management, and commencing proxy contests to attempt to elect the activists’ representatives or others to our board of directors, or arise in a variety of situations, has impacted the BDC space. While we are currently not subject to any stockholder activism, due to the potential volatility of our stock price and for a variety of other reasons, we may in the future become the target of stockholder activism. Stockholder activism could result in substantial costs and divert management’s and our board of directors’ attention and resources from our business. Additionally, such stockholder activism could give rise to perceived uncertainties as to our future and adversely affect our relationships with service providers and our portfolio companies. Also, we may be required to incur significant legal and other expenses related to any activist stockholder matters. Further, our stock price could be subject to significant fluctuation or otherwise be adversely affected by the events, risks and uncertainties of any stockholder activism.

RISKS RELATING TO THE ILLIQUID NATURE OF OUR PORTFOLIO ASSETS

We invest in illiquid assets, and our valuation procedures with respect to such assets may result in recording values that are materially different than the values we ultimately receive upon disposition of such assets.

All of our investments are recorded using broker or dealer quotes, if available, or at fair value as determined in good faith by our board of directors. We expect that most, if not all, of our investments (other than cash and cash equivalents) and the fair value of the Credit Facility will be classified as Level 3 under the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 820, Fair Value Measurements and Disclosures, or ASC 820. This means that the portfolio valuations will be based on unobservable inputs and our own assumptions about how market participants would price the asset or liability. We expect that inputs into the determination of fair values of our portfolio investments and Credit Facility borrowings will require significant management judgment or estimation. Even if observable market data are available, such information may be the result of consensus pricing information or broker quotes, which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by such a disclaimer materially reduces the reliability of such information. As a result, there will be uncertainty as to the value of our portfolio investments.

Determining fair value requires that judgment be applied to the specific facts and circumstances of each portfolio investment while employing a consistently applied valuation process for the types of investments we make. In determining fair value in good faith, we generally obtain financial and other information from portfolio companies, which may represent unaudited, projected or pro forma financial information. Unlike banks, we are not permitted to provide a general reserve for anticipated loan losses; we are instead required by the 1940 Act to specifically fair value each individual investment on a quarterly basis. We record unrealized appreciation if we believe that our investment has appreciated in value. Likewise, we record unrealized depreciation if we believe that our investment has depreciated in value. We adjust quarterly the valuation of our portfolio to reflect our board of directors’ determination of the fair value of each investment in our portfolio. Any changes in fair value are recorded on our Consolidated Statements of Operations as net change in unrealized appreciation or depreciation.

All of our investments are recorded at fair value as determined in good faith by our board of directors. Our board of directors uses the services of nationally recognized independent valuation firms to aid it in determining the fair value of our investments. The factors that may be considered in fair value pricing of our investments include the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and cash flows, the markets in which the portfolio company does business, comparison to publicly traded companies and other relevant factors. Because valuations may fluctuate over short periods of time and may be based on estimates, our determinations of fair value may differ materially from the value received in an actual transaction. Additionally, valuations of private securities and private companies are inherently uncertain. Our NAV could be adversely affected if our determinations regarding the fair value of our investments were materially lower than the values that we ultimately realize upon the disposal of such investments.

The lack of liquidity in our investments may adversely affect our business.

We may acquire our investments directly from the issuer in privately negotiated transactions. Substantially all of these securities are subject to legal and other restrictions on resale or are otherwise less liquid than publicly traded securities. We typically exit our investments when the portfolio company has a liquidity event such as a sale, refinancing, or initial public offering of the company, but we are generally not required to do so.

The illiquidity of our investments may make it difficult or impossible for us to sell such investments if the need arises, particularly at times when the market for illiquid securities is substantially diminished. In addition, if we are required to liquidate all or a portion of our portfolio quickly, we may realize significantly less than the value at which we have previously recorded our investments, which could have a material adverse effect on our business, financial condition and results of operations. In addition, we may face other restrictions on our ability to liquidate an investment in a portfolio company to the extent that we have material non-public information regarding such portfolio company.

Investments purchased by us that are liquid at the time of purchase may subsequently become illiquid due to events relating to the issuer of the investments, market events, economic conditions or investor perceptions. Domestic and foreign markets are complex and interrelated, so that events in one sector of the world markets or economy, or in one geographical region, can reverberate and have materially negative consequences for other market, economic or regional sectors in a manner that may not be foreseen and which may materially harm our business.

A general disruption in the credit markets could materially damage our business.

We are susceptible to the risk of significant loss if we are forced to discount the value of our investments in order to provide liquidity to meet our debt maturities. Funding I’s borrowings under its Credit Facility are collateralized by the assets in our investment portfolio. A general disruption in the credit markets could result in diminished demand for our securities. In addition, with respect to over-the-counter traded securities, the continued viability of any over-the-counter secondary market depends on the continued willingness of dealers and other participants to purchase the securities.

If the fair value of our assets declines substantially, we may fail to maintain the asset coverage ratio stipulated by the 1940 Act, which could, in turn, cause us to lose our status as a BDC and materially impair our business operations. Our liquidity could be impaired further by an inability to access the capital markets or to draw down Funding I’s Credit Facility. These situations may arise due to circumstances that we may be unable to control, such as a general disruption in the credit markets, a severe decline in the value of the U.S. dollar, an economic downturn or recession or an operational problem that affects our counterparties or us, and could materially damage our business.

We may invest in over-the-counter securities, which have and may continue to face liquidity constraints, to provide us with liquidity.

The market for over-the-counter traded securities has and may continue to experience limited liquidity and other weakness as the viability of any over-the-counter secondary market depends on the continued willingness of dealers and other participants to purchase the securities.

RISKS RELATING TO OUR INVESTMENTS

Our investments in prospective portfolio companies may be risky, and an investor could lose all or part of an investment.

We intend to invest primarily in floating rate loans, which may consist of first lien secured debt, second lien secured debt, subordinated debt and selected equity investments issued by U.S. middle-market companies.

Floating Rate Loans: The floating rate loans we invest in are usually rated below investment grade or may also be unrated. Investments in floating rate loans rated below investment grade are considered speculative because of the credit risk of their issuers. Such companies are more likely than investment grade issuers to default on their payments of interest and principal owed to us, and such defaults could reduce our NAV and income distributions. An economic downturn would generally lead to a higher default rate by portfolio companies. A rloating rate loan may lose significant market value before a default occurs and we may experience losses due to the inherent illiquidity of the investments. Moreover, any specific collateral used to secure a floating rate loan may decline in value or become illiquid, which would adversely affect the floating rate loan’s fair value. Floating rate loans are subject to a number of risks, including liquidity risk and the risk of investing in below investment grade, variable-rate securities.

Floating rate loans are subject to the risk of non-payment of scheduled interest or principal. Such non-payment would result in a reduction of income to us, a reduction in the fair value of the investment and a potential decrease in our NAV. There can be no assurance that the liquidation of any collateral securing a floating rate loan would satisfy the borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that the collateral could be readily liquidated. In the event of bankruptcy or insolvency of a borrower, we could experience delays or limitations with respect to our ability to realize the benefits of the collateral securing a floating rate loan. The collateral securing a floating rate loan may lose all or substantially all of its value in the event of the bankruptcy or insolvency of a borrower. Some loans are subject to the risk that a court, pursuant to fraudulent conveyance or other similar laws, could subordinate the rights in collateral of such loans to presently existing or future indebtedness of the borrower or take other actions detrimental to the holders of loans including, in certain circumstances, invalidating such loans or causing interest previously paid to be refunded to the borrower. Either such action could materially negatively affect our performance.

We may acquire floating rate loans through assignments or participations of interests in such loans. The purchaser of an assignment typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to such debt obligation. However, the purchaser’s rights can be more restricted than those of the assigning institution, and we may not be able to unilaterally enforce all rights and remedies under an assigned debt obligation and with regard to any associated collateral. A participation typically results in a contractual relationship only with the institution participating out the interest and not directly with the borrower. Sellers of participations typically include banks, broker-dealers, other financial institutions and lending institutions. In purchasing participations, we generally will have no right to enforce compliance by the borrower with the terms of the loan agreement against the borrower, and we may not directly benefit from the collateral supporting the debt obligation in which we have purchased the participation. As a result, we will be exposed to the credit risk of both the borrower and the institution selling the participation. Further, in purchasing participations in lending syndicates, we will not be able to conduct the same level of due diligence on a borrower or the quality of the floating rate loan with respect to which we are buying a participation as we would conduct if we were investing directly in the floating rate loan. This difference may result in us being exposed to greater credit or fraud risk with respect to such floating rate loans than we expected when initially purchasing the participation. Floating rate loans can be first lien secured debt, second lien secured debt or subordinated debt.

First Lien Secured Debt: When we extend first lien secured debt, we will generally take a security interest in the available assets of these portfolio companies, including the equity interests of their subsidiaries, although this may not always be the case. We expect this security interest, if any, to help mitigate the risk that we will not be repaid. However, there is a risk that the collateral securing our loans may decrease in value over time, may be difficult to sell in a timely manner, may be difficult to appraise and may fluctuate in value based upon the success of the business and market conditions, including as a result of the inability of the portfolio company to raise additional capital. Also, in some circumstances, our lien could be subordinated to claims of other creditors. In addition, deterioration in a portfolio company’s financial condition and prospects, including its inability to raise additional capital, may be accompanied by deterioration in the value of the collateral for the loan. Consequently, the fact that a first lien secured debt investment is secured does not guarantee that we will receive principal and interest payments according to the loan’s terms, or at all, or that we will be able to collect on the loan should we be forced to enforce our remedies.

Second Lien Secured Debt: Our second lien secured debt usually ranks junior in priority of payment to first lien secured debt. Second lien secured debt holds a second priority with regard to right of payment in the event of insolvency. Second lien secured debt ranks senior to subordinated debt and common and preferred equity in borrowers’ capital structures. This may result in an above average amount of risk and volatility or a loss of principal. These investments may involve additional risks that could adversely affect our investment returns. To the extent interest payments associated with such debt are deferred, such debt may be subject to greater fluctuations in valuations, and such debt could subject us and our stockholders to non-cash income. Since we may not receive cash interest or principal prior to the maturity of some of our second lien secured debt investments, such investments may be of greater risk than cash paying loans.

Subordinated Debt: Our subordinated debt usually ranks junior in priority of payment to first lien secured debt and second lien secured debt, and are often unsecured. As such, other creditors may rank senior to us in the event of insolvency. Subordinated debt ranks senior to common and preferred equity in borrowers’ capital structures. This may result in an above average amount of risk and volatility or a loss of principal. These investments may involve additional risks that could adversely affect our investment returns. To the extent interest payments associated with such debt are deferred, such debt may be subject to greater fluctuations in valuations, and such debt could subject us and our stockholders to non-cash income. Since we may not receive cash interest or principal prior to the maturity of some of our subordinated debt investments, such investments may be of greater risk than cash paying loans.

Equity Investments: We have made and expect to continue to make select equity investments, all of which are subordinated to debt investments. In addition, when we invest in first lien secured debt, second lien secured debt or subordinated debt, we may acquire warrants to purchase equity investments from time to time. Our goal is ultimately to dispose of these equity investments and realize gains upon our disposition of such interests. However, the equity investments we receive may not appreciate in value and, in fact, may decline in value. Accordingly, we may not be able to realize gains from our equity investments, and any gains that we do realize on the disposition of any equity investments may not be sufficient to offset any other losses we experience. In addition, many of the equity securities in which we invest may not pay dividends on a regular basis, if at all. Furthermore, we may hold equity investments in partnerships through a taxable subsidiary for federal income tax purposes. Upon sale or exit of such investment, we may pay taxes at regular corporate tax rates, which will reduce the amount of gains or dividends available for distributions to our stockholders.

In addition, investing in middle-market companies involves a number of significant risks, including:

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companies may be highly leveraged, have limited financial resources and may be unable to meet their obligations under their debt securities that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of us realizing any guarantees we may have obtained in connection with our investment;

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they typically have shorter operating histories, more limited publicly available information, narrower product lines, more concentration of revenues from customers and smaller market shares than larger businesses, which tend to render them more vulnerable to competitors’ actions and changing market conditions, as well as general economic downturns;

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they are more likely to depend on the management talents and efforts of a small group of persons; therefore, the death, disability, resignation or termination of one or more of these persons could have a material adverse impact on our portfolio company and, in turn, on us;

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they generally have less predictable operating results, may from time to time be parties to litigation, may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence, and may require substantial additional capital to support their operations, finance expansion or maintain their competitive position. In addition, our executive officers, directors and our Investment Adviser may be named as defendants in litigation arising from our investments in the portfolio companies; and

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they may have difficulty accessing the capital markets to meet future capital needs, which may limit their ability to grow or to refinance their outstanding indebtedness upon maturity.

Under the 1940 Act, we may invest up to 30% of our assets in investments that are not qualifying assets for BDCs. If we do not invest a sufficient portion of our assets in qualifying assets, we could be precluded from investing in assets that we deem to be attractive.

As a BDC, we may not acquire any asset other than qualifying assets, as defined under the 1940 Act, unless at the time the acquisition is made such qualifying assets represent at least 70% of the value of our total assets. Qualifying assets include investments in U.S. operating companies whose securities are not listed on a national securities exchange and companies listed on a national securities exchange subject to a maximum market capitalization of $250 million. Qualifying assets also include cash, cash equivalents, government securities and high quality debt securities maturing in one year or less from the time of investment.

We believe that most of our debt and equity investments do and will constitute qualifying assets. However, we may be precluded from investing in what we believe are attractive investments if such investments are not qualifying assets for purposes of the 1940 Act. If we have not invested a sufficient portion of our assets in qualifying assets at the time of a proposed investment, we will be prohibited from making any additional investment that is not a qualifying asset and could be forced to forgo attractive investment opportunities. Similarly, these rules could prevent us from making follow-on investments in existing portfolio companies (which could result in the dilution of our position) or could require us to dispose of investments at inappropriate times in order to comply with the 1940 Act. If we need to dispose of such investments quickly, it would be difficult to dispose of such investments on favorable terms. For example, we may have difficulty in finding a buyer and, even if we do find a buyer, we may have to sell the investments at a substantial loss.

We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we generally are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer.

We are classified as a non-diversified investment company within the meaning of the 1940 Act, which means that we are not limited by the 1940 Act with respect to the proportion of our assets that we may invest in securities of a single issuer, excluding limitations on investments in other investment companies and compliance with the RIC tax regulations. To the extent that we assume large positions in the securities of a small number of issuers, our NAV may fluctuate to a greater extent than that of a diversified investment company as a result of changes in the financial condition or the market’s assessment of the issuer. We may also be more susceptible to any single economic or regulatory occurrence than a diversified investment company. Beyond the Diversification Requirements, we do not have fixed guidelines for portfolio diversification, and our investments could be concentrated in relatively few portfolio companies or industries. Although we are classified as a non-diversified investment company within the meaning of the 1940 Act, we maintain the flexibility to operate as a diversified investment company and have done so for an extended period of time. To the extent that we operate as a non-diversified investment company in the future, we may be subject to greater risk.

Economic recessions or downturns could impair our portfolio companies and harm our operating results.

Many of our portfolio companies are susceptible to economic or industry centric slowdowns or recessions and may be unable to repay debt from us during these periods. Therefore, our non-performing assets are likely to increase, and the value of our portfolio is likely to decrease during these periods. Adverse economic conditions also may decrease the value of collateral securing some of our debt investments and the value of our equity investments. Economic slowdowns or recessions could lead to financial losses in our portfolio and a material decrease in revenues, net income and assets. Unfavorable economic conditions also could increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events could prevent us from increasing investments and materially harm our operating results.

A portfolio company’s failure to satisfy financial or operating covenants imposed by us or other lenders could lead to defaults and potential termination of its debt and foreclosure on its secured assets, which could trigger cross-defaults under other agreements and jeopardize our portfolio company’s ability to meet its obligations under the debt securities that we hold. We may incur expenses to the extent necessary to seek recovery upon default or to negotiate new terms with a defaulting portfolio company, and any restructuring could further cause adverse effects on our business. Depending on the facts and circumstances of our investments and the extent of our involvement in the management of a portfolio company, upon the bankruptcy of a portfolio company, a bankruptcy court may recharacterize our debt investments as equity investments and subordinate all or a portion of our claim to that of other creditors. This could occur regardless of how we may have structured our investment. In addition, we cannot assure you that a bankruptcy court would not take actions contrary to our interests.

If we fail to make follow-on investments in our portfolio companies, this could materially impair the value of our portfolio.

Following an initial investment in a portfolio company, we may make additional investments in that portfolio company as “follow-on” investments, in order to:

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increase or maintain in whole or in part our equity ownership percentage;

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exercise warrants, options or convertible securities that were acquired in the original or subsequent financing; or

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attempt to preserve or enhance the value of our investment.

We have the discretion to make any follow-on investments, subject to the availability of capital resources and regulatory considerations. We may elect not to make follow-on investments or otherwise lack sufficient funds to make those investments. Any failure to make follow-on investments may, in some circumstances, jeopardize the

continued viability of a portfolio company and our initial investment, or may result in a missed opportunity for us to increase our participation in a successful transaction or business. Even if we have sufficient capital to make a desired follow-on investment, we may elect not to make a follow-on investment because we may not want to increase our concentration of risk, either because we prefer other opportunities or because we are inhibited by compliance with BDC requirements or the desire to maintain our RIC tax status.

Because we generally do not hold controlling equity interests in our portfolio companies, we are not in a position to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments.

Because we generally do not hold controlling equity positions in our portfolio companies, we are subject to the risk that a portfolio company may make business decisions with which we disagree, and the stockholders and management of a portfolio company may take risks or otherwise act in ways that are adverse to our interests. Due to the lack of liquidity for the debt and equity investments that we typically hold in our portfolio companies, we may not be able to dispose of our investments in the event we disagree with the actions of a portfolio company, and may therefore suffer a decrease in the market value of our investments.

An investment strategy focused primarily on privately held companies, including controlling equity interests, presents certain challenges, including the lack of available or comparable information about these companies, a dependence on the talents and efforts of only a few key portfolio company personnel and a greater vulnerability to economic downturns.

We have invested and intend to continue to invest primarily in privately held companies. Generally, little public information exists about these companies, and we rely on the ability of our Investment Adviser’s investment professionals to obtain adequate information to evaluate the potential returns from investing in these companies. If they are unable to uncover all material information about these companies, we may not make a fully informed investment decision, and we may lose value on our investments. Also, privately held companies frequently have less diverse product lines and smaller market presence than larger competitors. These factors could have a material adverse impact on our investment returns as compared to companies investing primarily in the securities of public companies.

Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies and our portfolio companies may be highly leveraged.

We invest primarily in floating rate loans issued by our portfolio companies. The portfolio companies usually will have, or may be permitted to incur, other debt that ranks equally with, or senior to, our investments, and they may be highly leveraged. By their terms, such debt instruments may provide that the holders are entitled to receive payment of interest or principal on or before the dates on which we are entitled to receive payments with respect to our debt investments. Also, in the event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company, holders of debt instruments ranking senior to our investment in that portfolio company would typically be entitled to receive payment in full before we receive any distribution in respect of our investment. After repaying such senior creditors, the portfolio company may not have any remaining assets to use for repaying its obligation to us. In the case of debt ranking equally with debt securities in which we invest, we would have to share on an equal basis any distributions with other creditors holding such debt in the event of an insolvency, liquidation, dissolution, reorganization or bankruptcy of the relevant portfolio company.

Our incentive fee may induce the Investment Adviser to make speculative investments.

The incentive fee payable by us to PennantPark Investment Advisers may create an incentive for PennantPark Investment Advisers to make investments on our behalf that are risky or more speculative than would be the case in the absence of such compensation arrangement. The incentive fee payable to our Investment Adviser is calculated based on a percentage of our NAV. This may encourage our Investment Adviser to use leverage to increase the return on our investments. Under certain circumstances, the use of leverage may increase the likelihood of default, which would disfavor the holders of our common stock. In addition, our Investment Adviser will receive the incentive fee based, in part, upon net capital gains realized on our investments. Unlike that portion of the incentive fee based on income, there is no hurdle applicable to the portion of the incentive fee based on net capital gains. As a result, the Investment Adviser may have a tendency to invest more capital in investments that are likely to result in capital gains as compared to income producing securities. Such a practice could result in our investing in more speculative securities than would otherwise be the case, which could result in higher investment losses, particularly during economic downturns.

The part of our incentive fee payable by us to PennantPark Investment Advisers that relates to net investment income is computed and paid on income that has been accrued but that has not been received in cash. PennantPark Investment Advisers is not obligated to reimburse us for any such incentive fees even if we subsequently incur losses or never receive in cash the deferred income that was previously accrued. As a result, there is a risk that we will pay incentive fees with respect to income that we never receive in cash.

Any investments in distressed debt may not produce income and may require us to bear large expenses in order to protect and recover our investment.

Distressed debt investments may not produce income and may require us to bear certain additional expenses in order to protect and recover our investment. Therefore, to the extent we invest in distressed debt, our ability to achieve current income for our stockholders may be diminished. We also will be subject to significant uncertainty as to when, in what manner and for what value the distressed debt in which we invest will eventually be satisfied (e.g., through liquidation of the obligor’s assets, an exchange offer or plan of reorganization involving the distressed debt securities or a payment of some amount in satisfaction of the obligation). In addition, even if an exchange offer is made or plan of reorganization is adopted with respect to distressed debt we hold, there can be no assurance that the securities or other assets received by us in connection with such exchange offer or plan of reorganization will not have a lower value or income potential than may have been anticipated when the investment was made. Moreover, any securities received by us upon completion of an exchange offer or plan of reorganization may be restricted as to resale. If we participate in negotiations with respect to any exchange offer or plan of reorganization with respect to an issuer of distressed debt, we may be restricted from disposing of such securities.

Our investments in foreign securities may involve significant risks in addition to the risks inherent in U.S. investments.

Our investment strategy contemplates potential investments in securities of companies located outside of the United States. Investments in securities of companies located outside the United States would not be qualifying assets under Section 55(a) of the 1940 Act. Investing in companies located outside of the United States may expose us to additional risks not typically associated with investing in U.S. companies. These risks include changes in exchange control regulations, political, economic and social instability, expropriation, imposition of foreign taxes, less liquid markets and less available information than is generally the case in the United States, higher transaction costs, less government supervision of exchanges, brokers and issuers, less developed bankruptcy laws, difficulty in enforcing contractual obligations, lack of uniform accounting and auditing standards and greater price volatility.

Although most of our investments will be U.S. dollar-denominated, any investments denominated in a foreign currency will be subject to the risk that the value of a particular currency will change in relation to one or more other currencies. Among the factors that may affect currency values are trade balances, the level of interest rates, differences in relative values of similar assets in different currencies, long-term opportunities for investment and capital appreciation, and economic and political developments. We may employ hedging techniques such as using the Credit Facility’s multicurrency capability to minimize these risks, but we can offer no assurance that we will, in fact, hedge currency risk or, that if we do, such strategies will be effective.

We may make investments that cause our stockholders to bear investment advisory fees and other expenses on such investments in addition to our management fees and expenses.

We may invest, to the extent permitted by law, in the securities and instruments of other investment companies and companies that would be investment companies but are excluded from the definition of an investment company provided in Section 3(c) of the 1940 Act. To the extent we so invest, we will bear our ratable share of any such investment company’s expenses, including management and performance fees. We will also remain obligated to pay investment advisory fees, consisting of a base management fee and an incentive fee, to PennantPark Investment Advisers with respect to investments in the securities and instruments of other investment companies under our Investment Management Agreement. With respect to any such investments, each of our stockholders will bear his or her share of the investment advisory fees of PennantPark Investment Advisers as well as indirectly bearing the investment advisory fees and other expenses of any investment companies in which we invest.

We may be obligated to pay our Investment Adviser incentive compensation even if we incur a loss.

Our Investment Adviser is entitled to incentive compensation for each fiscal quarter in an amount equal to a percentage of the excess of our investment income for that quarter (before deducting incentive compensation, net operating losses and certain other items) above a threshold return for that quarter. Our Pre-Incentive Fee Net Investment Income for incentive compensation purposes excludes realized and unrealized capital losses that we may incur in the fiscal quarter, even if such capital losses result in a net loss on our Consolidated Statements of Operations for that quarter. Thus, we may be required to pay the Investment Adviser incentive compensation for a fiscal quarter even if there is a decline in the value of our portfolio, NAV or we incur a net loss for that quarter. In addition, increases in interest rates may increase the amount of incentive fees we pay to the Investment Adviser even though our performance relative to the market has not increased.

We may invest in derivatives or other assets that expose us to certain risks, including market risk, liquidity risk, counterparty risk, operational and legal risk and other risks similar to those associated with the use of leverage.

The Company may invest in derivatives and other assets that are subject to many of the same types of risks related to the use of leverage. Derivative transactions, if any, will generally create leverage for the Company and involve significant risks. The primary risks related to derivative transactions include counterparty, correlation, liquidity, leverage, volatility, over-the-counter trading, operational and legal risks. In addition, a small investment in derivatives could have a large potential impact on our performance, effecting a form of investment leverage on our portfolio. In certain types of derivative transactions, the Company could lose the entire amount of its investment; in other types of derivative transactions the potential loss is theoretically unlimited.

Under SEC Rule 18f-4 under the 1940 Act (“Rule 18f-4”), related to the use of derivatives, short sales, reverse repurchase agreements and certain other transactions by registered investment companies, the Company is permitted to enter into derivatives and other transactions that create future payment or delivery obligations, including short sales, notwithstanding the senior security provisions of the 1940 Act if it complies with certain value-at-risk leverage limits and derivatives risk management program and board oversight and reporting requirements or comply with a “limited derivatives users” exception. Rule 18f-4 also permits the Company to enter into reverse repurchase agreements or similar financing transactions notwithstanding the senior security provisions of the 1940 Act if the Company aggregates the amount of indebtedness associated with our reverse repurchase agreements or similar financing transactions with the aggregate amount of any other senior securities representing indebtedness when calculating the asset coverage ratios as discussed herein. In addition, the Company is permitted to invest in a security on a when-issued or forward-settling basis, or with a non-standard settlement cycle, and the transaction will be deemed not to involve a senior security under the 1940 Act, provided that (i) the Company intends to physically settle the transaction and (ii) the transaction will settle within 35 days of its trade date (the “Delayed-Settlement Securities Provision”). The Company may otherwise engage in such transactions that do not meet the conditions of the Delayed-Settlement Securities Provision so long as the Company treats any such transaction as a “derivatives transaction” for purposes of compliance with the rule. Furthermore, the Company is permitted to enter into an unfunded commitment agreement, and such unfunded commitment agreement will not be subject to the asset coverage requirements under the 1940 Act, if the Company reasonably believes, at the time it enters into such agreement, that it will have sufficient cash and cash equivalents to meet its obligations with respect to all such agreements as they come due. The Company cannot predict the effects of these requirements.

The Company has adopted updated policies and procedures in compliance with Rule 18f-4. The Company expects to qualify as a “limited derivatives user.” Future legislation or rules may modify how the Company treats derivatives and other financial arrangements for purposes of the Company’s compliance with the leverage limitations of the 1940 Act. Future legislation or rules, may modify how leverage is calculated under the 1940 Act and, therefore, may increase or decrease the amount of leverage currently available to the Company under the 1940 Act, which may be materially adverse to the Company and the Company’s Investors.

RISKS RELATING TO AN INVESTMENT IN OUR COMMON STOCK

We may obtain the approval of our stockholders to issue shares of our common stock at prices below the then current NAV per share of our common stock. If we receive such approval from stockholders in the future, we may issue shares of our common stock at a price below the then current NAV per share of common stock. Any such issuance could materially dilute your interest in our common stock and reduce our NAV per share.

We may seek to obtain from our stockholders and they may approve a proposal that authorizes us to issue shares of our common stock at prices below the then current NAV per share of our common stock in one or more offerings for a 12-month period. Such approval would allow us to access the capital markets in a way that we were previously unable to do as a result of restrictions that, absent stockholder approval, apply to BDCs under the 1940 Act.

Any sale or other issuance of shares of our common stock at a price below NAV per share will result in an immediate dilution to your interest in our common stock and a reduction of our NAV per share. This dilution would occur as a result of a proportionately greater decrease in a stockholder’s interest in our earnings and assets and voting interest in us than the increase in our assets resulting from such issuance. Because the number of future shares of common stock that may be issued below our NAV per share and the price and timing of such issuances are not currently known, we cannot predict the actual dilutive effect of any such issuance. We also cannot determine the resulting reduction in our NAV per share of any such issuance at this time. We caution you that such effects may be material, and we undertake to describe all the material risks and dilutive effects of any offerings we make at a price below our then current NAV in the future in a prospectus supplement issued in connection with any such offering.

The determination of NAV in connection with an offering of shares of common stock will involve the determination by our board of directors or a committee thereof that we are not selling shares of our common stock at a price below the then current NAV of our common stock at the time at which the sale is made or otherwise in violation of the 1940 Act, unless we have previously received the consent of the majority of our common stockholders to do so and the board of directors decides such an offering is in the best interests of our common stockholders. Whenever we do not have current stockholder approval to issue shares of our common stock at a price per share below our then current NAV per share, the offering price per share (after any distributing commission or discount) will equal or exceed our then current NAV per share, based on the value of our portfolio securities and other assets determined in good faith by our board of directors as of a time within 48 hours (excluding Sundays and holidays) of the sale.

There is a risk that our stockholders may not receive distributions or that our distributions may not grow over time.

We intend to make distributions on a monthly basis to our stockholders out of assets legally available for distribution. We cannot assure you that we will achieve investment results that will allow us to make a specified level of cash distributions or year-to-year increases in cash distributions. In addition, due to the asset coverage ratio

requirements applicable to us as a BDC, we may be limited in our ability to make distributions. Further, we may be forced to liquidate some of our investments and raise cash in order to make distribution payments, which could materially harm our business. Finally, to the extent we make distributions to stockholders which include a return of capital, that portion of the distribution essentially constitutes a return of the stockholders’ investment. Although such return of capital may not be taxable, such distributions may increase an investor’s tax liability for capital gains upon the future sale of our common stock.

Investing in our shares may involve an above average degree of risk.

The investments we make in accordance with our investment objectives may result in a higher amount of risk and volatility than alternative investment options or loss of principal. Our investments in portfolio companies may be highly speculative and aggressive and, therefore, an investment in our shares may not be suitable for someone with lower risk tolerance.

Sales of substantial amounts of our securities may have an adverse effect on the market price of our securities.

Sales of substantial amounts of our securities, or the availability of such securities for sale, could adversely affect the prevailing market prices for our securities. If this occurs and continues it could impair our ability to raise additional capital through the sale of securities should we desire to do so.

We may allocate the net proceeds from any offering of our securities in ways with which you may not agree.

We have significant flexibility in investing the net proceeds of any offering of our securities and may use the net proceeds from an offering in ways with which you may not agree or for purposes other than those contemplated at the time of the offering.

Our shares may trade at discounts from NAV or at premiums that are unsustainable over the long term.

Shares of BDCs may trade at a market price that is less than the NAV that is attributable to those shares. Our shares have traded above and below our NAV. Our shares closed on The New York Stock Exchange at $10.66 and $9.60 on September 30, 2023 and 2022, respectively. Our NAV per share was $11.13 and $11.62 as of the same dates, respectively. The possibility that our shares of common stock will trade at a discount from NAV or at a premium that is unsustainable over the long term is separate and distinct from the risk that our NAV will decrease. It is not possible to predict whether our shares will trade at, above or below NAV in the future.

The market price of our common stock may fluctuate significantly.

The market price and liquidity of the market for shares of our common stock may be significantly affected by numerous factors, some of which are beyond our control and may not be directly related to our operating performance. These factors include:

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significant volatility in the market price and trading volume of securities of BDCs or other companies in our sector, which are not necessarily related to the operating performance of these companies;

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changes in regulatory policies or tax guidelines, particularly with respect to RICs or BDCs;

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any loss of our BDC or RIC status;

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changes in earnings or variations in operating results;

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changes in prevailing interest rates;

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changes in the value of our portfolio of investments;

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any shortfall in revenue or net income or any increase in losses from levels expected by investors or securities analysts;

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the inability of our Investment Adviser to employ additional experienced investment professionals or the departure of any of the Investment Adviser’s key personnel;

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operating performance of companies comparable to us;

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general national and international economic trends and other external factors;

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general price and volume fluctuations in the stock markets, including as a result of short sales;

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conversion features of subscription rights, warrants or convertible debt; and

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loss of a major funding source.

Since our initial listing on The Nasdaq Global Select Market to our voluntarily withdrawal of the principal listing of common shares from the Nasdaq Stock Market LLC effective at market close on April 13, 2022 and subsequent listing and trading of the Company's common stock on the New York Stock Exchange, which commenced April 14, 2022, our shares of common stock have traded at a wide range of prices. We can offer no assurance that our shares of common stock will not display similar volatility in future periods.

We may be unable to invest the net proceeds raised from offerings on acceptable terms, which would harm our financial condition and operating results.

Until we identify new investment opportunities, we intend to either invest the net proceeds of future offerings in cash equivalents, U.S. government securities and other high-quality debt investments that mature in one year or less or use the net proceeds from such offerings to reduce then-outstanding obligations under the Credit Facility or any future credit facility. We cannot assure you that we will be able to find enough appropriate investments that meet our investment selection criteria or that any investment we complete using the proceeds from an offering will produce a sufficient return.

There is a risk that our common stockholders may receive our stock as distributions in which case they may be required to pay taxes in excess of the cash they receive.

We may distribute our common stock as a dividend of our taxable income and a stockholder could receive a portion of the dividends declared and distributed by us in shares of our common stock with the remaining amount in cash. Revenue Procedures issued by the IRS allow a publicly offered regulated investment company (including a BDC) to distribute its own stock as a dividend for the purpose of fulfilling its distribution requirements, if certain conditions are satisfied. As long as a portion of such

dividend is paid in cash (which portion may be as low as 20% of such dividend) and certain requirements are met, the entire distribution will be treated as a dividend for U.S. federal income tax purposes. As a result, a stockholder will be considered to have recognized dividend income generally equal to the fair market value of the stock paid by us plus cash received with respect to such dividend. The total dividend declared would be taxable income to a stockholder even though he or she may only receive a relatively small portion of the dividend in cash to pay any taxes due on the dividend. We have not elected to distribute stock as a dividend but reserve the right to do so.

Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock.

The Maryland General Corporation Law, our charter and our bylaws contain provisions that may discourage, delay or make more difficult a change in control of us or the removal of our directors. We are subject to the Maryland Business Combination Act, or the Business Combination Act, the application of which is subject to any applicable requirements of the 1940 Act. Our board of directors has adopted a resolution exempting from the Business Combination Act any business combination between us and any other person, subject to prior approval of such business combination by our board, including approval by a majority of our disinterested directors. If the resolution exempting business combinations is repealed or our board does not approve a business combination, the Business Combination Act may discourage third parties from trying to acquire control of us and increase the difficulty of consummating such an offer.

In addition, our bylaws exempt from the Maryland Control Share Acquisition Act acquisitions of our common stock by any person. If we amend our bylaws to repeal the exemption from such act, it may make it more difficult for a third party to obtain control of us and increase the difficulty of consummating such an offer. Our bylaws require us to consult with the SEC staff before we repeal such exemption. Also, our charter provides for classifying our board of directors in three classes serving staggered three-year terms, and provisions of our charter authorize our board of directors to classify or reclassify shares of our stock in one or more classes or series, to cause the issuance of additional shares of our stock, and to amend our charter, without stockholder approval, to increase or decrease the number of shares of stock that we have authority to issue.

These anti-takeover provisions may inhibit a change of control in circumstances that could give our stockholders the opportunity to realize a premium over the market price for our common stock.

RISKS RELATING TO AN INVESTMENT IN OUR DEBT SECURITIES

Risks Relating to Our 2023 Notes

The 2023 Notes are unsecured and therefore are effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.

The 2023 Notes are not secured by any of our assets or any of the assets of our subsidiaries. As a result, the 2023 Notes are effectively subordinated to any secured indebtedness we or our subsidiaries have currently incurred and may incur in the future (or any indebtedness that is initially unsecured to which we subsequently grant security) to the extent of the value of the assets securing such indebtedness. In any liquidation, dissolution, bankruptcy or other similar proceeding, the holders of any of our existing or future secured indebtedness and the secured indebtedness of our subsidiaries may assert rights against the assets pledged to secure that indebtedness in order to receive full payment of their indebtedness before the assets may be used to pay other creditors, including the holders of the 2023 Notes. As of September 30, 2023, we had $9.4 million outstanding under the Credit Facility. The Credit Facility is secured by substantially all of the assets of Funding I, and the indebtedness under the Credit Facility is therefore effectively senior in right of payment to the 2023 Notes to the extent of the value of such assets.

The 2023 Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries.

The 2023 Notes are obligations exclusively of PennantPark Floating Rate Capital Ltd. and not of any of our subsidiaries. None of our subsidiaries is or acts as a guarantor of the 2023 Notes and the 2023 Notes are not required to be guaranteed by any subsidiaries we may acquire or create in the future.

Except to the extent we are a creditor with recognized claims against our subsidiaries, all claims of creditors (including holders of preferred stock, if any, of our subsidiaries) will have priority over our equity interests in such subsidiaries (and therefore the claims of our creditors, including holders of the 2023 Notes) with respect to the assets of such subsidiaries. Even if we are recognized as a creditor of one or more of our subsidiaries, our claims would still be effectively subordinated to any security interests in the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior to our claims. Consequently, the 2023 Notes are structurally subordinated to all indebtedness and other liabilities (including trade payables) of our subsidiaries and any subsidiaries that we may in the future acquire or establish as financing vehicles or otherwise.

The 2023 Notes are linked to the U.S. Dollar and therefore holders of the 2023 Notes are subject to currency risk.

Payments of principal and interest under the 2023 Notes will be adjusted for increases or decreases in the representative exchange rate of the U.S. Dollar to the New Israeli Shekel, or NIS, from the time of the public offering of the 2023 Notes. Accordingly, if such exchange rate declines, the rate of interest holders of the 2023 Notes receive in NIS terms effectively will be lower than the stated interest rate of the 2023 Notes and they will be entitled to receive fewer NIS upon repayment of the 2023 Notes than the par value thereof.

If an active trading market does not develop for the 2023 Notes holders of the 2023 Notes may not be able to sell them.

The 2023 Notes may trade at a discount to their initial offering price depending on prevailing interest rates, foreign currency exchange rates, the market for similar securities, our credit ratings, our financial condition or other relevant factors. We cannot assure holders of the 2023 Notes that a liquid trading market will develop for the 2023 Notes, that they will be able to sell their 2023 Notes at a particular time or that the price they receive when they sell will be favorable. To the extent an active trading market does not develop, the liquidity and trading price for the 2023 Notes may be harmed. Accordingly, investors may be required to bear the financial risk of an investment in the 2023 Notes for an indefinite period of time.

The market price of the 2023 Notes may fluctuate.

If an active trading market for the 2023 Notes does develop on the TASE, the 2023 Notes may trade at prices lower than the offering price. The trading price of the 2023 Notes depends on many factors, including:

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prevailing interest rates;

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the prevailing exchange rate of the U.S. Dollar to the NIS;

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the market for similar securities;

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general political, economic and financial market conditions in Israel and globally;

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our issuance of debt or preferred equity securities; and

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our financial condition, results of operations and prospects.

In addition, a downgrade, suspension or withdrawal of the credit rating assigned by a rating agency to us or the 2023 Notes, if any, or change in the debt markets could cause the liquidity or market value of the 2023 Notes to decline significantly.

Our credit ratings are an assessment by rating agencies of our ability to pay our debts when due. Consequently, real or anticipated changes in our credit ratings will generally affect the market value of the 2023 Notes. These credit ratings may not reflect the potential impact of risks relating to the structure or marketing of the 2023 Notes. Credit ratings are not a recommendation to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization in its sole discretion. Neither we nor any underwriter undertakes any obligation to maintain our credit ratings or to advise holders of 2023 Notes of any changes in our credit ratings. There can be no assurance that our credit ratings will remain for any given period of time or that they will not be lowered or withdrawn entirely if in the judgment of the rating agency future circumstances relating to the basis of our credit ratings, such as adverse changes in our company, so warrant. In addition, the interest rate payable under the 2023 Notes will increase in the event of certain ratings declines or if a rating agency ceases to rate the 2023 Notes for more than 21 days until such declines are reversed and/or the 2023 Notes are again rated by a rating agency.

The deed of trust under which the 2023 Notes were issued contains limited protection for holders of the 2023 Notes.

The deed of trust under which the 2023 Notes were issued offers limited protection to holders of the 2023 Notes. The terms of the deed of trust and the 2023 Notes do not restrict our or any of our subsidiaries’ ability to engage in, or otherwise be a party to, a variety of corporate transactions, circumstances or events that could have an adverse impact on each holder’s investment in the 2023 Notes. In particular, subject to the satisfaction of certain financial covenants, the terms of the deed of trust and the 2023 Notes will not place any restrictions on our or our subsidiaries’ ability to:

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issue securities or otherwise incur additional indebtedness or other obligations, including (1) any indebtedness or other obligations that would be equal in right of payment to the 2023 Notes, (2) any indebtedness or other obligations that would be secured and therefore rank effectively senior in right of payment to the 2023 Notes to the extent of the values of the assets securing such debt, (3) indebtedness of ours that is guaranteed by one or more of our subsidiaries and which therefore would rank structurally senior to the 2023 Notes and (4) securities, indebtedness or other obligations issued or incurred by our subsidiaries that would be senior in right of payment to our equity interests in our subsidiaries and therefore would rank structurally senior in right of payment to the 2023 Notes with respect to the assets of our subsidiaries, in each case other than an incurrence of indebtedness or other obligation that would cause a violation of Section 18(a)(1)(A) as modified by Section 61(a)(1)-(2) of the 1940 Act or any successor provisions;

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pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to the 2023 Notes;

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sell assets;

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enter into transactions with affiliates;

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enter into sale and leaseback transactions;

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make investments; or

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create restrictions on the payment of dividends or other amounts to us from our subsidiaries.

Our ability to recapitalize, incur additional debt and take a number of other actions that are not limited by the terms of the 2023 Notes may have important consequences for holders of the 2023 Notes, including making it more difficult for us to satisfy our obligations with respect to the 2023 Notes or negatively affecting the trading value of the 2023 Notes.

Other debt we issue or incur in the future could contain more protections for its holders than the deed of trust and the 2023 Notes, including additional covenants and events of default. The issuance or incurrence of any such debt with incremental protections could affect the market for and trading levels and prices of the 2023 Notes.

The optional redemption provision may materially adversely affect the return on the 2023 Notes.

The 2023 Notes are redeemable in whole or in part upon certain conditions at any time or from time to time at our option. We may choose to redeem the 2023 Notes at times when prevailing interest rates are lower than the interest rate paid on the 2023 Notes. In this circumstance, holders of the 2023 Notes may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as the 2023 Notes being redeemed.

If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the 2023 Notes.

Any default under the agreements governing our indebtedness, including a default under the Credit Facility, or under other indebtedness to which we may be a party that is not waived by the required lenders or holders, and the remedies sought by the holders of such indebtedness could make us unable to pay principal, premium, if any, and interest on the 2023 Notes and substantially decrease the market value of the 2023 Notes. If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, and interest on our indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the instruments governing our indebtedness, we could be in default under the terms of the agreements governing such indebtedness. In the event of such default, the holders of such indebtedness could elect to declare all the funds borrowed thereunder to be due and payable, together with accrued and unpaid interest, the lenders under the Credit Facility or other debt we may incur in the future could elect to terminate their commitments, cease making further loans and institute foreclosure proceedings against our assets, and we could be forced into bankruptcy or liquidation. If our operating performance declines, we may in the future need to seek to obtain waivers from the required lenders under the agreements relating to the Credit Facility, or other debt that we may incur in the future to avoid being in default. If we breach our covenants under the Credit Facility or other debt and seek a waiver, we may not be able to obtain a waiver from the required lenders or holders. If this occurs, we would be in default and our lenders or debt holders could exercise their rights as described above, and we could be forced into bankruptcy or liquidation. If we are unable to repay debt, lenders having secured obligations, including the lenders under the Credit Facility, could proceed against the collateral securing the debt. Because the Credit Facility has, and any future debt will likely have, customary cross-default provisions, if the indebtedness thereunder or under any future credit facility is accelerated, we may be unable to repay or finance the amounts due.

FATCA withholding may apply to payments to certain foreign entities.

Payments made under the 2023 Notes to a foreign financial institution or non-financial foreign entity (including such an institution or entity acting as an intermediary) may be subject to a U.S. withholding tax of 30% under the Foreign Account Tax Compliance Act (commonly known as “FATCA”) provisions of the Code. This U.S. withholding tax may apply to certain payments of interest on the 2023 Notes, unless the foreign financial institution or non-financial foreign entity complies with certain information reporting, withholding, identification, certification and related requirements imposed by FATCA. Depending upon the status of a holder and the status of an intermediary through which any notes are held, the holder could be subject to this 30% U.S. withholding tax in respect of any interest paid on the notes as well as any proceeds from the sale or other disposition of the notes. Proposed Treasury Regulations, if finalized in their present form, would eliminate the application of this 30% U.S. withholding tax in respect of payments of certain gross proceeds. Pursuant to these proposed Treasury Regulations, we and any other applicable withholding agent may (but are not required to) rely on this proposed change to FACTA withholding until final regulations are issued or until such proposed Treasury Regulations are rescinded. Holders of the 2023 Notes should consult their own tax advisors regarding FATCA and how it may affect their investment in the 2023 Notes.

It may be difficult to obtain and enforce civil judgments against us and our directors, officers and experts.

We are a Maryland corporation and our principal executive offices are located in Miami, Florida. All of our assets are located outside of Israel. As a result, even though the deed of trust for the 2023 Notes is governed by Israeli law and any disputes thereunder are stipulated to be adjudicated in Israeli courts, holders of the 2023 Notes may have difficulty enforcing in Israel judgments they may obtain in an Israeli court against us.

U.S. courts may refuse to hear a securities law claim of a non-U.S. investor who purchased our securities on the TASE. In addition, since our directors, officers and experts are located outside of Israel, it may be difficult serving legal process upon any of these persons. It also may be difficult enforcing judgments holders of the 2023 Notes may obtain in Israeli courts against us or those persons in any action, including actions based upon the civil liability provisions of U.S. securities laws.

It may also be difficult to assert U.S. securities laws claims in original actions instituted in Israel. Israeli courts may refuse to hear a claim based on an alleged violation of U.S. securities laws reasoning that Israel is not the most appropriate forum to bring such a claim. In particular, the Israeli Securities Law expressly authorizes Israeli courts to stay a securities lawsuit against a dual-listed company while a lawsuit on similar grounds is being adjudicated in a non-Israeli court.

Subject to specified time limitations and legal procedures, under the rules of private international law currently prevailing in Israel, Israeli courts may enforce a U.S. judgment in a civil matter, including a judgment based upon the civil liability provisions of the U.S. securities laws, as well as a monetary or compensatory judgment in a non-civil matter, provided that the following key conditions are met:

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subject to limited exceptions, the judgment is final and non-appealable;

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the judgment was given by a court competent under the laws of the state of the court and is otherwise enforceable in such state;

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the judgment was rendered by a court competent under the rules of private international law applicable in Israel;

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the laws of the state in which the judgment was given provide for the enforcement of judgments of Israeli courts;

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adequate service of process has been effected and the defendant has had a reasonable opportunity to present his arguments and evidence;

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the judgment and its enforcement are not contrary to the law, public policy, security or sovereignty of the State of Israel;

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the judgment was not obtained by fraud and does not conflict with any other valid judgment in the same matter between the same parties; and

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an action between the same parties in the same matter was not pending in any Israeli court at the time the lawsuit was instituted in the U.S. court.

Risks Relating to Our 2026 Notes

The 2026 Notes are unsecured and therefore are effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.

The 2026 Notes are not secured by any of our assets or any of the assets of our subsidiaries. As a result, the 2026 Notes are effectively subordinated to any secured indebtedness we or our subsidiaries have currently incurred and may incur in the future (or any indebtedness that is initially unsecured to which we subsequently grant security) to the extent of the value of the assets securing such indebtedness. In any liquidation, dissolution, bankruptcy or other similar proceeding, the holders of any of our existing or future secured indebtedness and the secured indebtedness of our subsidiaries may assert rights against the assets pledged to secure that indebtedness in order to receive full payment of their indebtedness before the assets may be used to pay other creditors, including the holders of the 2026 Notes. As of September 30, 2023, we had $9.4 million outstanding under the Credit Facility. The Credit Facility is secured by substantially all of the assets of Funding I, and the indebtedness under the Credit Facility is therefore effectively senior in right of payment to the 2026 Notes to the extent of the value of such assets.

The 2026 Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries.

The 2026 Notes are obligations exclusively of PennantPark Floating Rate Capital Ltd. and not of any of our subsidiaries. None of our subsidiaries is or acts as a guarantor of the 2026 Notes, and the 2026 Notes are not required to be guaranteed by any subsidiaries we may acquire or create in the future. Our secured indebtedness with respect to the Credit Facility is held through Funding I, and our secured indebtedness with respect to the 2031 Asset-Backed Debt is held through the Securitization Issuer. The assets of any such subsidiaries are not directly available to satisfy the claims of our creditors, including holders of the 2026 Notes.

Except to the extent we are a creditor with recognized claims against our subsidiaries, all claims of creditors (including holders of preferred stock, if any, of our subsidiaries) will have priority over our equity interests in such subsidiaries (and therefore the claims of our creditors, including holders of the 2026 Notes) with respect to the assets of such subsidiaries. Even if we are recognized as a creditor of one or more of our subsidiaries, our claims would still be effectively subordinated to any security interests in the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior to our claims. Consequently, the 2026 Notes will be structurally subordinated to all indebtedness and other liabilities (including trade payables) of our subsidiaries and any subsidiaries that we may in the future acquire or establish as financing vehicles or otherwise.

The indenture under which the 2026 Notes were issued contains limited protection for their respective holders.

The indenture under which the 2026 Notes were issued offers limited protection for their respective holders. The terms of the indenture and the 2026 Notes do not restrict our or any of our subsidiaries’ ability to engage in, or otherwise be a party to, a variety of corporate transactions, circumstances or events that could have an adverse

impact on each holder’s investment in the 2026 Notes. In particular, the terms of the indenture and the 2026 Notes do not place any restrictions on our or our subsidiaries’ ability to:

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issue securities or otherwise incur additional indebtedness or other obligations, including (1) any indebtedness or other obligations that would be equal in right of payment to the 2026 Notes, (2) any indebtedness or other obligations that would be secured and therefore rank effectively senior in right of payment to the 2026 Notes to the extent of the values of the assets securing such debt, (3) indebtedness or other obligations of ours that are guaranteed by one or more of our subsidiaries and which therefore would rank structurally senior to the 2026 Notes and (4) securities, indebtedness or other obligations issued or incurred by our subsidiaries that would be senior in right of payment to our equity interests in our subsidiaries and therefore would rank structurally senior in right of payment to the 2026 Notes with respect to the assets of our subsidiaries, in each case other than an incurrence of indebtedness or other obligation that would cause a violation of Section 18(a)(1)(A) of the 1940 Act as modified by Section 61(a)(1) and (2) of the 1940 Act or any successor provisions, as such obligations may be amended or superseded, giving effect to any exemptive relief granted to us by the SEC;

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pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to the 2026 Notes;

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sell assets (other than certain limited restrictions on our ability to consolidate, merge or sell all or substantially all of our assets);

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enter into transactions with affiliates;

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create liens (including liens on the shares of our subsidiaries) or enter into sale and leaseback transactions;

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make investments; or

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create restrictions on the payment of dividends or other amounts to us from our subsidiaries.

In addition, the indenture will not require us to offer to purchase the 2026 Notes in connection with a change of control or any other event.

Furthermore, the terms of the indenture and the 2026 Notes do not protect their respective holders in the event that we experience changes (including significant adverse changes) in our financial condition, results of operations or credit ratings, as they do not require that we or our subsidiaries adhere to any financial tests or ratios or specified levels of net worth, revenues, income, cash flow or liquidity, except as required under the 1940 Act.

Our ability to recapitalize, incur additional debt and take a number of other actions that are not limited by the terms of the 2026 Notes may have important consequences for their holders, including making it more difficult for us to satisfy our obligations with respect to the 2026 Notes or negatively affecting their trading value.

Certain of our current debt instruments include more protections for their respective holders than the indenture and the 2026 Notes. In addition, other debt we issue or incur in the future could contain more protections for its holders than the indenture governing the 2026 Notes and the 2026 Notes, including additional covenants and events of default. The issuance or incurrence of any such debt with incremental protections could affect the market for and trading levels and prices of the 2026 Notes.

The optional redemption provision may materially adversely affect your return on the 2026 Notes.

The 2026 Notes will be redeemable in whole or in part upon certain conditions at any time, or from time to time, at our option, on or after January 1, 2026. We may choose to redeem the 2026 Notes at times when prevailing interest rates are lower than the interest rate paid on the 2026 Notes. In this circumstance, investors may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as the 2026 Notes being redeemed.

We may not be able to repurchase the 2026 Notes upon a Change of Control Repurchase Event.

Upon the occurrence of a Change of Control Repurchase Event, as defined in the indenture governing the 2026 Notes, subject to certain conditions, we will be required to offer to repurchase all outstanding 2026 Notes at 100% of their principal amount, plus accrued and unpaid interest. The source of funds for that purchase of 2026 Notes will be our available cash or cash generated from our operations or other potential sources, including borrowings, investment repayments, sales of assets or sales of equity. We cannot assure you that sufficient funds from such sources will be available at the time of any Change of Control Repurchase Event to make required repurchases of the 2026 Notes tendered. Before making any such repurchase of the 2026 Notes, we may have to comply with certain requirements under our then existing financing arrangements, such as the Credit Facility and the 2023 Notes. Our future debt instruments may also contain similar restrictions and provisions. If the holders of the 2026 Notes exercise their right to require us to repurchase the 2026 Notes upon a Change of Control Repurchase Event, the financial effect of this repurchase could cause a default under our existing or future debt instruments, even if the Change of Control Repurchase Event itself would not cause a default. It is possible that we will not have sufficient funds at the time of the Change of Control Repurchase Event to make the required repurchase of the 2026 Notes or our other debt.

While a trading market has developed after issuing the 2026 Notes, we cannot assure you that an active trading market for the 2026 Notes will be maintained.

While a trading market developed after issuing the 2026 Notes, we cannot assure you that an active and liquid market for the 2026 Notes will be maintained. We do not intend to list the 2026 Notes on any securities exchange or for quotation of the 2026 Notes on any automated dealer quotation system. If the 2026 Notes are traded after their initial issuance, they may trade at a discount to their public offering price depending on prevailing interest rates, the market for similar securities, our credit ratings, general economic conditions, our financial condition, performance and prospects and other factors. The underwriters of the 2026 Notes may discontinue any market-making in the 2026 Notes at any time at their sole discretion. In addition, any market-making activity will be subject to limits imposed by law. Accordingly, we cannot assure you that a liquid trading market will be maintained for the 2026 Notes, that you will be able to sell the 2026 Notes at a particular time or that the price you receive when you sell will be favorable. To the extent an active trading market is not maintained, the liquidity and trading price for the 2026 Notes may be harmed. Accordingly, you may be required to bear the financial risk of an investment in the 2026 Notes for an indefinite period of time.

If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the 2026 Notes.

Any default under the agreements governing our indebtedness, including a default under the Credit Facility, the 2023 Notes, the 2031 Asset-Backed Debt or under other indebtedness to which we may be a party that is not waived by the required lenders or holders, and the remedies sought by the holders of such indebtedness could make us unable to pay principal, premium, if any, and interest on the 2026 Notes and substantially decrease the market value of the 2026 Notes.

If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, and interest on our indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the instruments governing our indebtedness, we could be in default under the terms of the agreements governing such indebtedness. In the event of such default, the holders of such indebtedness could

elect to declare all the funds borrowed thereunder to be due and payable, together with accrued and unpaid interest, the lenders or holders under the Credit Facility, the 2023 Notes, the 2031 Asset-Backed Debt or other debt we may incur in the future could elect to terminate their commitments, cease making further loans and institute foreclosure proceedings against our assets, and we could be forced into bankruptcy or liquidation.

If our operating performance declines, we may in the future need to seek to obtain waivers from the required lenders or holders under the agreements relating to the Credit Facility, the 2023 Notes, the 2031 Asset-Backed Debt or other debt that we may incur in the future to avoid being in default. If we breach our covenants under the Credit Facility, the 2023 Notes, the 2031 Asset-Backed Debt or other debt and seek a waiver, we may not be able to obtain a waiver from the required lenders or holders. If this occurs, we would be in default and our lenders or holders could exercise their rights as described above, and we could be forced into bankruptcy or liquidation. If we are unable to repay debt, lenders or holders having secured obligations, including the lenders or holders under the Credit Facility and the 2031 Asset-Backed Debt, could proceed against the collateral securing such debt. Because the Credit Facility, the 2023 Notes and the 2031 Asset-Backed Debt have, and any future debt will likely have, customary cross-default provisions, if the indebtedness thereunder or under any future credit facility is accelerated, we may be unable to repay or finance the amounts due.

A downgrade, suspension or withdrawal of a credit rating assigned by a rating agency to us or our unsecured debt, if any, or change in the debt markets could cause the liquidity or market value of the 2026 Notes to decline significantly.

Our credit ratings are an assessment by a rating agency of our ability to pay our debts when due. Consequently, real or anticipated changes in our credit ratings will generally affect the market value of the 2026 Notes. These credit ratings may not reflect the potential impact of risks relating to the structure or marketing of the 2026 Notes. Credit ratings are not a recommendation to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization in its sole discretion. Neither we nor any underwriter undertakes any obligation to maintain our credit ratings or to advise holders of Notes of any changes in our credit ratings. There can be no assurance that our credit ratings will remain for any given period of time or that such credit ratings will not be lowered or withdrawn entirely by a rating agency if in its judgment future circumstances relating to the basis of the credit ratings, such as adverse changes in our company, so warrant. An increase in the competitive environment, inability to cover distributions, or increase in leverage could lead to a downgrade in our credit ratings and limit our access to the debt and equity markets capability impairing our ability to grow the business. The conditions of the financial markets and prevailing interest rates have fluctuated in the past and are likely to fluctuate in the future, which could have an adverse effect on the market prices of the 2026 Notes.

RISKS RELATING TO OUR DEBT SECURITIZATION

We are subject to certain risks as a result of our interests in connection with the Debt Securitization and our equity interest in the Securitization Issuers.

On September 19, 2019, in connection with the Debt Securitization and the offering of the 2031 Asset-Backed Debt by the Securitization Issuers, we sold and/or contributed to the Depositor certain senior loans made to certain of our portfolio companies, or the Securitization Loans, which the Depositor in turn sold and/or contributed to the Securitization Issuer in exchange for 100% of the Preferred Shares of the Securitization Issuer, 100% of the Class D Secured Deferrable Floating Rate Notes issued by the Securitization Issuer, and a portion of the net cash proceeds received from the sale of the 2031 Asset-Backed Debt. Following these transfers, the Securitization Issuer, and not the Depositor or us, held all of the ownership interest in the Securitization Loans.

As a result of the Debt Securitization, we hold, indirectly through the Depositor, 100% of the equity interests in the Securitization Issuers. As a result, we consolidate the financial statements of the Depositor and the Securitization Issuers, as well as our other subsidiaries, in our consolidated financial statements. Because each of the Depositor and the Securitization Issuer is disregarded as an entity separate from its owners for U.S. federal income tax purposes, the sale or contribution by us to the Depositor, and by the Depositor to the Securitization Issuer, as applicable, did not constitute a taxable event for U.S. federal income tax purposes. If the IRS were to take a contrary position, there could be a material adverse effect on our business, financial condition, results of operations or cash flows.

Further, a failure of the Securitization Issuer to be treated as a disregarded entity for U.S. federal income tax purposes would constitute an event of default pursuant to the applicable indenture under the Debt Securitization, upon which the trustee under the Debt Securitization, or the Securitization Trustee, may and will at the direction of a majority of the holders of the 2031 Asset-Backed Debt, or the Securitization Debtholders, declare the 2031 Asset-Backed Debt to be immediately due and payable and exercise remedies under the indenture, including (i) to institute proceedings for the collection of all amounts then payable on the 2031 Asset-Backed Debt, or under the indenture, enforce any judgment obtained, and collect from the Securitization Issuers and any other obligor upon the 2031 Asset-Backed Debt monies adjudged due; (ii) institute proceedings from time to time for the complete or partial foreclosure of the indenture with respect to the property of the Securitization Issuers; (iii) exercise any remedies as a secured party under the relevant Uniform Commercial Code and take other appropriate action under applicable law to protect and enforce the rights and remedies of the Securitization Trustee and the Securitization Debtholders; or (iv) sell the property of the Securitization Issuers or any portion thereof or rights or interest therein at one or more public or private sales called and conducted in any matter permitted by law. Any such exercise of remedies could have a material adverse effect on our business, financial condition, results of operations or cash flows.

An event of default in connection with the Debt Securitization could give rise to a cross-default under our other material indebtedness.

The documents governing our other material indebtedness contain customary cross-default provisions that could be triggered if an event of default occurs in connection with the Debt Securitization. An event of default with respect to our other indebtedness could lead to the acceleration of such indebtedness and the exercise of other remedies as provided in the documents governing such other indebtedness. This could have a material adverse effect on our business, financial condition, results of operations and cash flows and may result in our inability to make distributions sufficient to maintain our ability to be subject to tax as a RIC.

We may not receive cash distributions in respect of our indirect ownership interests in the Securitization Issuers.

Apart from fees payable to us in connection with our role as servicer of the Securitization Loans and the reimbursement of related amounts under the documents governing the Debt Securitization, we receive cash in connection with the Debt Securitization only to the extent that the Depositor receives payments in respect of its equity interests in the Securitization Issuers. The respective holders of the equity interests in the Securitization Issuers are the residual claimants on distributions, if any, made by the Securitization Issuers after the Securitization Debtholders and other claimants have been paid in full on each payment date or upon maturity of the 2031 Asset-Backed Debt, subject to the priority of payments under the documents governing the Debt Securitization. To the extent that the value of the Securitization Issuer’s portfolio of loans is reduced as a result of conditions in the credit markets (relevant in the event of a liquidation event), other macroeconomic factors, distressed or defaulted loans or the failure of individual portfolio companies to otherwise meet their obligations in respect of the loans, or for any other reason, the ability of the Securitization Issuers to make cash distributions in respect of the Depositor’s equity interests would be negatively affected and consequently, the value of the equity interests in the Securitization Issuers would also be reduced. In the event that we fail to receive cash indirectly from the Securitization Issuers, we could be unable to make distributions, if at all, in amounts sufficient to maintain our ability to be subject to tax as a RIC.

The interests of the Securitization Debtholders may not be aligned with our interests.

The 2031 Asset-Backed Debt constitutes debt obligations ranking senior in right of payment to the rights of the holders of the equity interests in the Securitization Issuers, as residual claimants in respect of distributions, if any, made by the Securitization Issuers. As such, there are circumstances in which the interests of the

Securitization Debtholders may not be aligned with the interests of holders of the equity interests in the Securitization Issuers. For example, under the terms of the documents governing the Debt Securitization, the Securitization Debtholders have the right to receive payments of principal and interest prior to holders of the equity interests.

For as long as the 2031 Asset-Backed Debt remains outstanding, the respective Securitization Debtholders have the right to act in certain circumstances with respect to the Securitization Loans in ways that may benefit their interests but not the interests of the respective holders of the equity interests in the Securitization Issuers, including by exercising remedies under the documents governing the Debt Securitization.

If an event of default occurs, the Securitization Debtholders will be entitled to determine the remedies to be exercised, subject to the terms of the documents governing the Debt Securitization. For example, upon the occurrence of an event of default with respect to the 2031 Asset-Backed Debt, the Securitization Trustee may and will at the direction of the holders of a majority of the applicable 2031 Asset-Backed Debt declare the principal, together with any accrued interest, of the debt to be immediately due and payable. This would have the effect of accelerating the principal on such debt, triggering a repayment obligation on the part of the Securitization Issuers. The 2031 Asset-Backed Debt then outstanding will be paid in full before any further payment or distribution on the equity interest is made. There can be no assurance that there will be sufficient funds through collections on the Securitization Loans or through the proceeds of the sale of the Securitization Loans in the event of a bankruptcy or insolvency to repay in full the obligations under the 2031 Asset-Backed Debt, or to make any distribution to holders of the equity interests in the Securitization Issuers.

Remedies pursued by the Securitization Debtholders could be adverse to our interests as the indirect holder of the equity interests in the Securitization Issuers. The Securitization Debtholders have no obligation to consider any possible adverse effect on such other interests. Thus, there can be no assurance that any remedies pursued by the Securitization Debtholders will be consistent with the best interests of the Depositor or that we will receive, indirectly through the Depositor, any payments or distributions upon an acceleration of the 2031 Asset-Backed Debt. Any failure of the Securitization Issuers to make distributions in respect of the equity interests that we indirectly hold, whether as a result of an event of default and the acceleration of payments on the 2031 Asset-Backed Debt or otherwise, could have a material adverse effect on our business, financial condition, results of operations and cash flows and may result in our inability to make distributions sufficient to maintain our ability to be subject to tax as a RIC.

We have certain repurchase obligations with respect to the Securitization Loans transferred in connection with the Debt Securitization.

As part of each Debt Securitization, we entered into a master loan agreement under which we would be required to repurchase any Securitization Loan (or participation interest therein) which was sold to the Securitization Issuer in breach of certain customary representations and warranties made by us or by the Depositor with respect to such Securitization Loan or the legal structure of the applicable Debt Securitization. To the extent that there is a breach of such representations and warranties and we fail to satisfy any such repurchase obligation, the Securitization Trustee may, on behalf of the Securitization Issuer, bring an action against us to enforce these repurchase obligations.

GENERAL RISK FACTORS

The ongoing invasion of Ukraine by Russia and related sanctions have increased global political and economic uncertainty, which may have a material impact on the Company's portfolio and the value of any investment in the Company.

The ongoing invasion of Ukraine by Russia and related sanctions have increased global political and economic uncertainty. In February 2022, Russia invaded Ukraine and, in response, the United States and many other countries placed economic sanctions on certain Russian entities and individuals. Because Russia is a major exporter of oil and natural gas, the invasion and related sanctions have reduced the supply, and increased the price, of energy, which is accelerating inflation and may exacerbate ongoing supply chain issues. There is also the risk of retaliatory actions by Russia against countries which have enacted sanctions, including cyberattacks against financial and governmental institutions, which could result in business disruptions and further economic turbulence. Although the Company has no direct exposure to Russia or Ukraine, the broader consequences of the invasion may have a material adverse impact on the Company's portfolio and the value of any investment in the Company. Because this is an uncertain and evolving situation, its full impact is unknown at this time.

We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties.

Our cash is held in accounts at U.S. banking institutions that we believe are of high quality. Cash held by us and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts may exceed the Federal Deposit Insurance Corporation insurance limits. If such banking institutions were to fail, we or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limitations. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our and our portfolio companies’ business, financial condition, results of operations, or prospects.

Although we assess our and our portfolio companies’ banking relationships as we believe necessary or appropriate, our and our portfolio companies’ access to funding sources and other credit arrangements in amounts adequate to finance or capitalize our respective current and projected future business operations could be significantly impaired by factors that affect us or our portfolio companies, the financial institutions with which we or our portfolio companies have arrangements directly, or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets, or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we or our portfolio companies have financial or business relationships, but could also include factors involving financial markets or the financial services industry generally.

In addition, investor concerns regarding the U.S. or international financial systems could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access to credit and liquidity sources, thereby making it more difficult for us or our portfolio companies to acquire financing on acceptable terms or at all.

Inflation may adversely affect the business, results of operations and financial condition of our portfolio companies.

Certain of our portfolio companies are in industries that may be impacted by inflation. If such portfolio companies are unable to pass any increases in their costs of operations along to their customers, it could adversely affect their operating results and impact their ability to pay interest and principal on our loans, particularly if interest rates rise in response to inflation. In addition, any projected future decreases in our portfolio companies’ operating results due to inflation could adversely impact the fair

value of those investments. Any decreases in the fair value of our investments could result in future realized or unrealized losses and therefore reduce our net assets resulting from operations.

Global capital markets could enter a period of severe disruption and instability due to future recessions, disease pandemics and other serious health events, political instability, geopolitical turmoil and foreign hostilities. These market conditions have historically had and could again have a materially adverse effect on debt and equity capital markets in the United States, which could have a materially negative impact on our business, financial condition and results of operations.

The U.S. and global capital markets have, from time to time, experienced periods of disruption characterized by the freezing of available credit, a lack of liquidity in the debt capital markets, significant losses in the principal value of investments, the re-pricing of credit risk in the broadly syndicated credit market, the failure of major financial institutions and general volatility in the financial markets. During these periods of disruption, general economic conditions deteriorated with material and adverse consequences for the broader financial and credit markets, and the availability of debt and equity capital for the market as a whole, and financial services firms in particular, was reduced significantly. These conditions may reoccur for a prolonged period of time or materially worsen in the future. In addition, uncertainty between the United States and other countries with respect to trade policies, treaties and tariffs, among other factors, have caused disruptions in the global markets, including markets in which we participate, and we cannot assure you that these market conditions will not continue or worsen in the future. We may in the future have difficulty accessing debt and equity capital markets, and a severe disruption in the global financial markets, deterioration in credit and financing conditions or uncertainty regarding U.S. government spending and deficit levels or other global economic and political conditions, including future recessions, political instability, geopolitical turmoil and foreign hostilities, and disease, pandemics and other serious health events, could have a material adverse effect on our business, financial condition and results of operations.

Volatility or a prolonged disruption in the credit markets could materially damage our business.

We are required to record our assets at fair value, as determined in good faith by our board of directors, in accordance with our valuation policy. As a result, volatility in the capital markets may have a material adverse effect on our valuations and our NAV, even if we hold investments to maturity. Volatility or dislocation in the capital markets may depress our stock price below our NAV per share and create a challenging environment in which to raise equity and debt capital. As a BDC, we are generally not able to issue additional shares of our common stock at a price less than our NAV without first obtaining approval for such issuance from our stockholders and our independent directors. Additionally, our ability to incur indebtedness is limited by the asset coverage ratio requirements for a BDC, as defined under the 1940 Act. Declining portfolio values negatively impact our ability to borrow additional funds under the Credit Facility because our NAV is reduced for purposes of the asset coverage ratio. If the fair value of our assets declines substantially, we may fail to maintain the asset coverage ratio stipulated by the 1940 Act, which could, in turn, cause us to lose our status as a BDC and materially impair our business operations. A lengthy disruption in the credit markets could also materially decrease demand for our investments and could materially damage our business, financial condition and results of operations.

The significant disruptions in the capital markets experienced in the past has had, and may in the future have, a negative effect on the valuations of our investments and on the potential for liquidity events involving our investments. The debt capital that may be available to us in the future may be at a higher cost and have less favorable terms and conditions than those currently in effect. If our financing costs increase and we have no increase in interest income, then our net investment income will decrease. A prolonged inability to raise capital may require us to reduce the volume of investments we originate and could have a material adverse impact on our business, financial condition and results of operations. This may also increase the probability that other structural risks negatively impact us. These situations may arise due to circumstances that we may be unable to control, such as a lengthy disruption in the credit markets, a severe decline in the value of the U.S. dollar, a sharp economic downturn or recession or an operational problem that affects third parties or us, and could materially damage our business, financial condition and results of operations.

Any public health emergency, including any outbreak of existing or new diseases, and the resulting financial and economic market uncertainty could have a significant adverse impact on us.

The extent of the impact of any public health emergency, on our and our portfolio companies’ operational and financial performance will depend on many factors, including the duration and scope of such public health emergency, the actions taken by governmental authorities to contain its financial and economic impact, the extent of any related travel advisories and restrictions implemented, the impact of such public health emergency on overall supply and demand, investor liquidity and levels of economic activity and the extent of its disruption to important global, regional and local supply chains and economic markets, all of which are highly uncertain and cannot be predicted. In addition, our and our portfolio companies’ operations may be significantly impacted, or halted, as a result of government quarantine measures, restrictions on travel and other factors related to a public health emergency, including its potential adverse impact on the health of any of our or our portfolio companies’ personnel. This could create widespread business continuity issues for us and our portfolio companies. These factors may also cause the valuation of our investments to differ materially from the values that we may ultimately realize. Any public health emergency, including any outbreak of existing or new epidemic diseases, or the threat thereof, and the resulting financial and economic market uncertainty could have a significant adverse impact on us and the fair value of our investments and our portfolio companies.

Economic sanction laws in the United States and other jurisdictions may prohibit us and our affiliates from transacting with certain countries, individuals and companies.

Economic sanction laws in the United States and other jurisdictions may prohibit us or our affiliates from transacting with certain countries, individuals and companies. In the United States, the U.S. Department of the Treasury’s Office of Foreign Assets Control administers and enforces laws, executive orders and regulations establishing U.S. economic and trade sanctions, which prohibit, among other things, transactions with, and the provision of services to, certain non-U.S. countries, territories, entities and individuals. These types of sanctions may significantly restrict or completely prohibit investment activities in certain jurisdictions, and if we, our portfolio companies or other issuers in which we invest were to violate any such laws or regulations, we may face significant legal and monetary penalties.

The Foreign Corrupt Practices Act, or FCPA, and other anti-corruption laws and regulations, as well as anti-boycott regulations, may also apply to and restrict our activities, our portfolio companies and other issuers of our investments. If an issuer or we were to violate any such laws or regulations, such issuer or we may face significant legal and monetary penalties. The U.S. government has indicated that it is particularly focused on FCPA enforcement, which may increase the risk that an issuer or us becomes the subject of such actual or threatened enforcement. In addition, certain commentators have suggested that private investment firms and the funds that they manage may face increased scrutiny and/or liability with respect to the activities of their underlying portfolio companies. As such, a violation of the FCPA or other applicable regulations by us or an issuer of our portfolio investments could have a material adverse effect on us. We are committed to complying with the FCPA and other anti-corruption laws and regulations, as well as anti-boycott regulations, to which it is subject. As a result, we may be adversely affected because of our unwillingness to enter into transactions that violate any such laws or regulations.

We may be the target of litigation.

We may be the target of securities litigation in the future, particularly if the trading price of our common stock or our 2026 Notes fluctuates significantly. We could also generally be subject to litigation, including derivative actions by our stockholders. Any litigation could result in substantial costs and divert management’s attention and resources from our business and cause a material adverse effect on our business, financial condition and results of operations.

The effect of global climate change may impact the operations of our portfolio companies.

There may be evidence of global climate change. Climate change creates physical and financial risk and some of our portfolio companies may be adversely affected by climate change. For example, the needs of customers of energy companies vary with weather conditions, primarily temperature and humidity. To the extent weather conditions are affected by climate change, energy use could increase or decrease depending on the duration and magnitude of any changes. Increases in the cost of energy could adversely affect the cost of operations of our portfolio companies if the use of energy products or services is material to their business. A decrease in energy use due to weather changes may affect some of our portfolio companies’ financial condition through, for example, decreased revenues. Extreme weather conditions in general require more system backup, adding to costs, and can contribute to increased system stresses, including service interruptions.

Legislative or regulatory tax changes could adversely affect investors.

At any time, the federal income tax laws governing RICs or the administrative interpretations of those laws or regulations may be amended. The Biden Administration has enacted significant changes to the existing U.S. tax rules that include, among others, a minimum tax on book income and profits of certain multinational corporations, and there are a number of proposals in the U.S. Congress that would similarly modify the existing U.S. tax rules. The likelihood of any new legislation being enacted is uncertain. Any new laws, regulations or interpretations may take effect retroactively and could adversely affect the taxation of us or our shareholders. Therefore, changes in tax laws, regulations or administrative interpretations or any amendments thereto could diminish the value of an investment in our shares or the value or the resale potential of our investments.

Effects of Leverage [Table Text Block]


Assumed return on portfolio (net of expenses) (1)	(10.0	)%	(5.0	)%	0	%	5.0	%	10.0	%
Corresponding return to common stockholders (2)	(22.3	)%	(13.3	)%	(4.3	)%	4.7	%	13.7	%

(1)

The assumed portfolio return is required by regulation of the SEC and is not a prediction of, and does not represent, our projected or actual performance.

(2)

Return at Minus Ten [Percent]

^[10]

(22.30%)

Return at Minus Five [Percent]

^[10]

(13.30%)

Return at Zero [Percent]

^[10]

(4.30%)

Return at Plus Five [Percent]

^[10]

4.70%

Return at Plus Ten [Percent]

^[10]

13.70%

Share Price [Table Text Block]

PRICE RANGE OF COMMON STOCK

On April 14, 2022, listing and trading of the Company's common stock commenced on the New York Stock Exchange after the Company voluntarily withdrew the principal listing of its common stock from the Nasdaq Global Stock Market effective at market close on April 13, 2022. Our common stock trades on the New York Stock Exchange and the TASE under the symbol “PFLT.” The following table lists the high and low closing sale prices for our common stock, the closing sale prices as a premium or (discount) to our NAV per share and distributions per share for each full quarterly period within the fiscal years ended September 30, 2023 and 2022.


							Premium /			Premium /
							(Discount)			(Discount)
			Closing Sale Prices				of High Sale			of Low Sale			Distributions
Period	NAV (1)		High		Low		Price to NAV (2)			Price to NAV (2)			Declared
Year Ended September 30, 2023
Fourth quarter	$	11.13	$	11.39	$	10.32		2	%		(7	)%	$	0.308
Third quarter		10.96		11.06		10.37		1			(5	)		0.303
Second quarter		11.15		12.20		9.98		9			(10	)		0.290
First quarter		11.30		11.56		9.77		2			(14	)		0.285
Year Ended September 30, 2022
Fourth quarter	$	11.62	$	13.19	$	9.60		14	%		(17	)%	$	0.285
Third quarter		12.21		14.20		10.45		16			(14	)		0.285
Second quarter		12.62		13.56		12.23		7			(3	)		0.285
First quarter		12.70		13.80		12.23		9			(4	)		0.285

(1)

NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.

(2)

Calculated as the respective high or low closing sales price less NAV per share, divided by the quarter-end NAV per share.

Shares of BDCs may trade at a market price both above and below the NAV that is attributable to those shares. Our shares have traded above and below our NAV. Our shares closed on the New York Stock Exchange at $10.66 and $9.60 on September 30, 2023 and 2022, respectively. Our NAV per share was $11.13 and $11.62 as of the same dates. The possibility that our shares of common stock will trade at a discount from NAV or at a premium that is unsustainable over the long term is separate and distinct from the risk that our NAV will decrease. It is not possible to predict whether our shares will trade at, above or below our NAV in the future. As of September 30, 2023, we had 34 stockholders of record.

Lowest Price or Bid

$ 12.23

$ 10.32

$ 10.37

$ 9.98

$ 9.77

$ 9.6

$ 10.45

$ 12.23

Highest Price or Bid

$ 11.39

$ 11.06

$ 12.2

$ 11.56

$ 13.19

$ 14.2

$ 13.56

$ 13.8

Highest Price or Bid, Premium (Discount) to NAV [Percent]

^[11]

9.00%

2.00%

1.00%

(9.00%)

(2.00%)

14.00%

16.00%

7.00%

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

^[11]

(4.00%)

(7.00%)

(5.00%)

(10.00%)

(14.00%)

(17.00%)

(14.00%)

(3.00%)

Share Price

$ 10.66

$ 9.6

$ 10.66

NAV Per Share

$ 11.13

^[12]

$ 10.96

^[12]

$ 11.15

^[12]

$ 11.3

^[12]

$ 11.62

^[12]

$ 12.21

^[12]

$ 12.62

^[12]

$ 12.7

^[12]

$ 11.13

^[12]

$ 12.62

$ 12.31

$ 12.97

$ 13.82

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt [Table Text Block]

In November 2017, we issued $138.6 million of our 2023 Notes. The 2023 Notes were issued pursuant to a deed of trust between the Company and Mishmeret Trust Company, Ltd. as trustee, of which $76.2 million and $97.0 million was outstanding as of September 30, 2023 and September 30, 2022, respectively.

The 2023 Notes are general, unsecured obligations, rank equal in right of payment with all of our existing and future senior unsecured indebtedness and are generally redeemable at our option. The deed of trust governing the 2023 Notes includes certain customary covenants, including minimum equity requirements, and events of default. Please refer to the deed of trust filed as Exhibit (d)(8) to our post-effective amendment filed on December 13, 2017 for more information. The 2023 Notes are rated ilA- by S&P Global Ratings Maalot Ltd. and are listed on the TASE. In connection with this offering, we have dual listed our common stock on the TASE.

In March 2021 and in October 2021, we issued $100.0 million and $85.0 million, respectively, in aggregate principal amount of our 2026 Notes at a public offering price per note of 99.4% and 101.5%, respectively. Interest on the 2026 Notes is paid semi-annually on April 1 and October 1 of each year, at a rate of 4.25% per year,

commencing October 1, 2021. The 2026 Notes mature on April 1, 2026 and may be redeemed in whole or in part at our option subject to a make-whole premium if redeemed more than three months prior to maturity. The 2026 Notes are our general, unsecured obligations and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 2026 Notes are effectively subordinated to all of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries, financing vehicles, or similar facilities. We do not intend to list the 2026 Notes on any securities exchange or automated dealer quotation system.

Funding I's Credit Facility

General Description of Registrant [Abstract]

Risk [Text Block]

•

A requirement to retain our status as a RIC;

•

A requirement to maintain a minimum amount of stockholders’ equity; and

•

A requirement that our outstanding borrowings under the Credit Facility not exceed a certain percentage of the value of our portfolio.

Investment Opportunities

General Description of Registrant [Abstract]

Risk [Text Block]

We operate in a highly competitive market for investment opportunities.

Negative Credit Events

General Description of Registrant [Abstract]

Risk [Text Block]

Our borrowers may default on their payments, which may have a materially negative effect on our financial performance.

Unrealized Losses

General Description of Registrant [Abstract]

Risk [Text Block]

Any unrealized losses we experience on our investment portfolio may be an indication of future realized losses, which could reduce our income available for distribution.

Hire and Retained Qualified Investors

General Description of Registrant [Abstract]

Risk [Text Block]

Changes in Interest Rates [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We are exposed to risks associated with changes in interest rates that may affect our cost of capital and net investment income.

Replacement of LIBOR [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

The discontinuation and replacement of LIBOR may adversely affect the value of floating-rate debt securities in our portfolio or issued by us.

Effective Management of Future Growth [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Our financial condition and results of operation depend on our ability to manage future growth effectively.

Information Systems and Systems Failures [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We are highly dependent on information systems and systems failures could have a material adverse effect on our business, financial condition and results of operations.

Material Weakness in Internal Control over Financial Reporting [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Not Replicate Historical Performance of Other Investment Companies and Funds [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may not replicate the historical performance of other investment companies and funds with which our senior and other investment professionals have been or are affiliated.

Failure to Maintain Our Status as BDC [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Any failure on our part to maintain our status as a BDC would reduce our operating flexibility.

Loss of RIC Tax Status [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Loss of RIC tax status would substantially reduce our net assets and income available for debt service and distributions.

Difficulty in Paying Annual Distribution Requirement [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may have difficulty paying our Annual Distribution Requirement if we recognize income before or without receiving cash representing such income.

Legislation Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Legislation enacted in 2018 allows us to incur additional leverage.

Income Distribution to Stockholders Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Regulations Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Regulations governing our operation as a BDC will affect our ability to, and the way in which we, raise additional capital.

•

Leverage Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We currently use borrowed funds to make investments and are exposed to the typical risks associated with leverage.

Investing in Shares Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

If we incur additional debt, it could increase the risk of investing in our shares.


Assumed return on portfolio (net of expenses) (1)	(10.0	)%	(5.0	)%	0	%	5.0	%	10.0	%
Corresponding return to common stockholders (2)	(22.3	)%	(13.3	)%	(4.3	)%	4.7	%	13.7	%

(1)

The assumed portfolio return is required by regulation of the SEC and is not a prediction of, and does not represent, our projected or actual performance.

(2)

Investments with Preferred Stock Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may in the future determine to fund a portion of our investments with preferred stock, which is another form of leverage and would magnify the potential for loss and the risks of investing in us.

Investments with Debt Securities Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may in the future determine to fund a portion of our investments with debt securities, which would magnify the potential for loss and the risks of investing in us.

Non Reflection of Credit Ratings in Debt Securities [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Our credit ratings may not reflect all risks of an investment in our debt securities.

Market Conditions Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Market conditions may make it difficult to extend the maturity of or refinance our existing indebtedness and any failure to do so could have a material adverse effect on our business.

Not Receive Cash On Equity Interests From Funding [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may not receive cash on our equity interests from Funding I.

Conflicts of Interest Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

There are significant potential conflicts of interest which could impact our investment returns.

Risks Associated With Cybersecurity And Cyber Incidents [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We are subject to risks associated with cybersecurity and cyber incidents.

Fluctuations in Quarterly Results [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may experience fluctuations in our quarterly results.

Future Issue of Debt or Other Securities Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We may in the future issue securities for which there is no public market and for which we expect no public market to develop.

Fluctuations In N A V And Market Value Of Common Stock While Issuance Of Preferred Stock Debt Securities Or Convertible Debt Securities [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

If we issue preferred stock, debt securities or convertible debt securities the NAV and market value of our common stock may become more volatile.

Restrictions on Ability to Sell Investments [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

The ability to sell investments held by Funding I is limited.

Fluctuations in Trading Market or Market Value of Publicly Issued Debt or Convertible Debt Securities [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

The trading market or market value of any publicly issued debt or convertible debt securities may be volatile.

These factors include the following:

•

the time remaining to the maturity of these debt securities;

•

the outstanding principal amount of debt securities with terms identical or similar to these debt securities;

•

the supply of debt securities trading in the secondary market, if any;

•

the redemption, repayment or convertible features, if any, of these debt securities;

•

the level, direction and volatility of market interest rates; and

•

market rates of interest higher or lower than rates borne by the debt securities.

Terms Relating to Debt Redemption Adversely Effect on Return on Debt Securities [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Terms relating to debt redemption may have a material adverse effect on the return on any debt securities.

Risk in Issuing Subscription Rights of Warrants for Common Stock [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

If we issue subscription rights or warrants for our common stock, your interest in us may be diluted as a result of such rights or warrants offering.

Risk in Impact of Recent Financial Reform Legislation [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risk in Changing Investment Objectives Operating Policies and Strategies without Prior Notice or Stockholder Approval [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Our board of directors may change our investment objectives, operating policies and strategies without prior notice or stockholder approval.

Risk in Subject To Stockholder Activism [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risk in Investing Illiquid Assets [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

General Description of Registrant [Abstract]

Risk [Text Block]

The lack of liquidity in our investments may adversely affect our business.

General Description of Registrant [Abstract]

Risk [Text Block]

A general disruption in the credit markets could materially damage our business.

General Description of Registrant [Abstract]

Risk [Text Block]

We may invest in over-the-counter securities, which have and may continue to face liquidity constraints, to provide us with liquidity.

General Description of Registrant [Abstract]

Risk [Text Block]

Our investments in prospective portfolio companies may be risky, and an investor could lose all or part of an investment.

In addition, investing in middle-market companies involves a number of significant risks, including:

•

they may have difficulty accessing the capital markets to meet future capital needs, which may limit their ability to grow or to refinance their outstanding indebtedness upon maturity.

General Description of Registrant [Abstract]

Risk [Text Block]

Risk Occurred Due to Non-diversified Investment Company [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

General Description of Registrant [Abstract]

Risk [Text Block]

Economic recessions or downturns could impair our portfolio companies and harm our operating results.

Follow-on Investments in Portfolio

General Description of Registrant [Abstract]

Risk [Text Block]

If we fail to make follow-on investments in our portfolio companies, this could materially impair the value of our portfolio.

Following an initial investment in a portfolio company, we may make additional investments in that portfolio company as “follow-on” investments, in order to:

•

increase or maintain in whole or in part our equity ownership percentage;

•

exercise warrants, options or convertible securities that were acquired in the original or subsequent financing; or

•

attempt to preserve or enhance the value of our investment.

Controlling Equity Interests in Portfolio

General Description of Registrant [Abstract]

Risk [Text Block]

Investment Strategy on Privately Held Including Controlling Equity Interests

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Relating to Debt Investments

General Description of Registrant [Abstract]

Risk [Text Block]

Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies and our portfolio companies may be highly leveraged.

Risks Relating to Incentive Fee Payable Induce to Investment Adviser

General Description of Registrant [Abstract]

Risk [Text Block]

Our incentive fee may induce the Investment Adviser to make speculative investments.

Risks Relating to Distressed Debt Investments

General Description of Registrant [Abstract]

Risk [Text Block]

Any investments in distressed debt may not produce income and may require us to bear large expenses in order to protect and recover our investment.

Risks Relating to Investments in Foreign Securities

General Description of Registrant [Abstract]

Risk [Text Block]

Our investments in foreign securities may involve significant risks in addition to the risks inherent in U.S. investments.

Risks Relating to Investments

General Description of Registrant [Abstract]

Risk [Text Block]

We may make investments that cause our stockholders to bear investment advisory fees and other expenses on such investments in addition to our management fees and expenses.

Risks Relating to Obligation to Pay Investment Adviser Incentive Compensation

General Description of Registrant [Abstract]

Risk [Text Block]

We may be obligated to pay our Investment Adviser incentive compensation even if we incur a loss.

Risks Related to Use of Leverage

General Description of Registrant [Abstract]

Risk [Text Block]

Issuance of Shares of Common Stock at Price Below Current NAV Per Share

General Description of Registrant [Abstract]

Risk [Text Block]

Distributions

General Description of Registrant [Abstract]

Risk [Text Block]

There is a risk that our stockholders may not receive distributions or that our distributions may not grow over time.

Investment in Shares

General Description of Registrant [Abstract]

Risk [Text Block]

Investing in our shares may involve an above average degree of risk.

Sale of Securities

General Description of Registrant [Abstract]

Risk [Text Block]

Sales of substantial amounts of our securities may have an adverse effect on the market price of our securities.

Net Proceeds from Offering of Securities

General Description of Registrant [Abstract]

Risk [Text Block]

We may allocate the net proceeds from any offering of our securities in ways with which you may not agree.

Trading of Shares at Discount From Nav or Premium Unsustainable Over Long Term

General Description of Registrant [Abstract]

Risk [Text Block]

Our shares may trade at discounts from NAV or at premiums that are unsustainable over the long term.

Fluctation in Common Stock Market Price

General Description of Registrant [Abstract]

Risk [Text Block]

The market price of our common stock may fluctuate significantly.

•

changes in regulatory policies or tax guidelines, particularly with respect to RICs or BDCs;

•

any loss of our BDC or RIC status;

•

changes in earnings or variations in operating results;

•

changes in prevailing interest rates;

•

changes in the value of our portfolio of investments;

•

any shortfall in revenue or net income or any increase in losses from levels expected by investors or securities analysts;

•

the inability of our Investment Adviser to employ additional experienced investment professionals or the departure of any of the Investment Adviser’s key personnel;

•

operating performance of companies comparable to us;

•

general national and international economic trends and other external factors;

•

general price and volume fluctuations in the stock markets, including as a result of short sales;

•

conversion features of subscription rights, warrants or convertible debt; and

•

loss of a major funding source.

Investing Net Proceeds Raised from Offerings

General Description of Registrant [Abstract]

Risk [Text Block]

We may be unable to invest the net proceeds raised from offerings on acceptable terms, which would harm our financial condition and operating results.

Payment of Taxes in Excess of Cash Received as Distributions

General Description of Registrant [Abstract]

Risk [Text Block]

There is a risk that our common stockholders may receive our stock as distributions in which case they may be required to pay taxes in excess of the cash they receive.

Provisions of Maryland General Corporation Law Charter and Bylaws

General Description of Registrant [Abstract]

Risk [Text Block]

Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock.

These anti-takeover provisions may inhibit a change of control in circumstances that could give our stockholders the opportunity to realize a premium over the market price for our common stock.

Risk Relating to 2023 Notes

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Relating to Our 2023 Notes

The 2023 Notes are unsecured and therefore are effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.

The 2023 Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries.

The 2023 Notes are linked to the U.S. Dollar and therefore holders of the 2023 Notes are subject to currency risk.

If an active trading market does not develop for the 2023 Notes holders of the 2023 Notes may not be able to sell them.

The market price of the 2023 Notes may fluctuate.

•

prevailing interest rates;

•

the prevailing exchange rate of the U.S. Dollar to the NIS;

•

the market for similar securities;

•

general political, economic and financial market conditions in Israel and globally;

•

our issuance of debt or preferred equity securities; and

•

our financial condition, results of operations and prospects.

The deed of trust under which the 2023 Notes were issued contains limited protection for holders of the 2023 Notes.

•

pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to the 2023 Notes;

•

sell assets;

•

enter into transactions with affiliates;

•

enter into sale and leaseback transactions;

•

make investments; or

•

create restrictions on the payment of dividends or other amounts to us from our subsidiaries.

The optional redemption provision may materially adversely affect the return on the 2023 Notes.

If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the 2023 Notes.

FATCA withholding may apply to payments to certain foreign entities.

It may be difficult to obtain and enforce civil judgments against us and our directors, officers and experts.

•

subject to limited exceptions, the judgment is final and non-appealable;

•

the judgment was given by a court competent under the laws of the state of the court and is otherwise enforceable in such state;

•

the judgment was rendered by a court competent under the rules of private international law applicable in Israel;

•

the laws of the state in which the judgment was given provide for the enforcement of judgments of Israeli courts;

•

adequate service of process has been effected and the defendant has had a reasonable opportunity to present his arguments and evidence;

•

the judgment and its enforcement are not contrary to the law, public policy, security or sovereignty of the State of Israel;

•

the judgment was not obtained by fraud and does not conflict with any other valid judgment in the same matter between the same parties; and

•

an action between the same parties in the same matter was not pending in any Israeli court at the time the lawsuit was instituted in the U.S. court.

Risks Relating to 2026 Notes

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Relating to Our 2026 Notes

The 2026 Notes are unsecured and therefore are effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.

The 2026 Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries.

Except to the extent we are a creditor with recognized claims against our subsidiaries, all claims of creditors (including holders of preferred stock, if any, of our subsidiaries) will have priority over our equity interests in such subsidiaries (and therefore the claims of our creditors, including holders of the 2026 Notes) with respect to the assets of such subsidiaries. Even if we are recognized as a creditor of one or more of our subsidiaries, our claims would still be effectively subordinated to any security interests in the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior to our claims. Consequently, the 2026 Notes will be structurally subordinated to all indebtedness and other liabilities (including trade payables) of our subsidiaries and any subsidiaries that we may in the future acquire or establish as financing vehicles or otherwise.

The indenture under which the 2026 Notes were issued contains limited protection for their respective holders.

impact on each holder’s investment in the 2026 Notes. In particular, the terms of the indenture and the 2026 Notes do not place any restrictions on our or our subsidiaries’ ability to:

•

issue securities or otherwise incur additional indebtedness or other obligations, including (1) any indebtedness or other obligations that would be equal in right of payment to the 2026 Notes, (2) any indebtedness or other obligations that would be secured and therefore rank effectively senior in right of payment to the 2026 Notes to the extent of the values of the assets securing such debt, (3) indebtedness or other obligations of ours that are guaranteed by one or more of our subsidiaries and which therefore would rank structurally senior to the 2026 Notes and (4) securities, indebtedness or other obligations issued or incurred by our subsidiaries that would be senior in right of payment to our equity interests in our subsidiaries and therefore would rank structurally senior in right of payment to the 2026 Notes with respect to the assets of our subsidiaries, in each case other than an incurrence of indebtedness or other obligation that would cause a violation of Section 18(a)(1)(A) of the 1940 Act as modified by Section 61(a)(1) and (2) of the 1940 Act or any successor provisions, as such obligations may be amended or superseded, giving effect to any exemptive relief granted to us by the SEC;

•

pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to the 2026 Notes;

•

sell assets (other than certain limited restrictions on our ability to consolidate, merge or sell all or substantially all of our assets);

•

enter into transactions with affiliates;

•

create liens (including liens on the shares of our subsidiaries) or enter into sale and leaseback transactions;

•

make investments; or

•

create restrictions on the payment of dividends or other amounts to us from our subsidiaries.

In addition, the indenture will not require us to offer to purchase the 2026 Notes in connection with a change of control or any other event.

The optional redemption provision may materially adversely affect your return on the 2026 Notes.

We may not be able to repurchase the 2026 Notes upon a Change of Control Repurchase Event.

While a trading market has developed after issuing the 2026 Notes, we cannot assure you that an active trading market for the 2026 Notes will be maintained.

If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the 2026 Notes.

Risks Relating to Debt Securitization

General Description of Registrant [Abstract]

Risk [Text Block]

RISKS RELATING TO OUR DEBT SECURITIZATION

We are subject to certain risks as a result of our interests in connection with the Debt Securitization and our equity interest in the Securitization Issuers.

An event of default in connection with the Debt Securitization could give rise to a cross-default under our other material indebtedness.

We may not receive cash distributions in respect of our indirect ownership interests in the Securitization Issuers.

The interests of the Securitization Debtholders may not be aligned with our interests.

We have certain repurchase obligations with respect to the Securitization Loans transferred in connection with the Debt Securitization.

Impact on Portfolio and Value of Investment Due to Global Political and Economic Uncertainty

General Description of Registrant [Abstract]

Risk [Text Block]

Inflation

General Description of Registrant [Abstract]

Risk [Text Block]

Inflation may adversely affect the business, results of operations and financial condition of our portfolio companies.

value of those investments. Any decreases in the fair value of our investments could result in future realized or unrealized losses and therefore reduce our net assets resulting from operations.

Impact of Global Capital Market Conditions

General Description of Registrant [Abstract]

Risk [Text Block]

Volatility or Prolonged Disruption in Credit Markets

General Description of Registrant [Abstract]

Risk [Text Block]

Volatility or a prolonged disruption in the credit markets could materially damage our business.

Financial and Economic Market Uncertainty Due to Public Health Emergency

General Description of Registrant [Abstract]

Risk [Text Block]

Any public health emergency, including any outbreak of existing or new diseases, and the resulting financial and economic market uncertainty could have a significant adverse impact on us.

Economic Sanction Laws from Transacting

General Description of Registrant [Abstract]

Risk [Text Block]

Economic sanction laws in the United States and other jurisdictions may prohibit us and our affiliates from transacting with certain countries, individuals and companies.

Litigation

General Description of Registrant [Abstract]

Risk [Text Block]

We may be the target of litigation.

Effect of Global Climate Change

General Description of Registrant [Abstract]

Risk [Text Block]

The effect of global climate change may impact the operations of our portfolio companies.

Legislative or Regulatory Tax Changes

General Description of Registrant [Abstract]

Risk [Text Block]

Legislative or regulatory tax changes could adversely affect investors.

2023 Notes

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

2023 Notes

Long Term Debt, Principal

$ 138,600,000

$ 9,400,000

Long Term Debt, Structuring [Text Block]

The 2023 Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries.

Long Term Debt, Dividends and Covenants [Text Block]

The deed of trust governing the 2023 Notes includes certain customary covenants, including minimum equity requirements, and events of default.

Long Term Debt, Rights Limited by Other Securities [Text Block]

The 2023 Notes are general, unsecured obligations, rank equal in right of payment with all of our existing and future senior unsecured indebtedness and are generally redeemable at our option.

2026 Notes

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

2026 Notes

Long Term Debt, Principal

$ 85,000,000

$ 100,000,000

Long Term Debt, Structuring [Text Block]

The 2026 Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries.

Long Term Debt, Rights Limited by Other Securities [Text Block]

The 2026 Notes are our general, unsecured obligations and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 2026 Notes are effectively subordinated to all of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries, financing vehicles, or similar facilities.

Credit Facility

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Principal

$ 9,400,000

2023 Notes 4.3%

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Structuring [Text Block]

2026 Notes 4.25%

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Structuring [Text Block]

Interest on the 2026 Notes is paid semi-annually on April 1 and October 1 of each year, at a rate of 4.25% per year, commencing October 1, 2021. The 2026 Notes mature on April 1, 2026 and may be redeemed in whole or in part at our option subject to a make-whole premium if redeemed more than three months prior to maturity.

Assumes No Return From Net Realized Capital Gains

Other Annual Expenses [Abstract]

Expense Example, Year 01

$ 231

Expense Example, Years 1 to 3

527

Expense Example, Years 1 to 5

730

Expense Example, Years 1 to 10

1,001

Assumes Return Only From Realized Capital Gains

Other Annual Expenses [Abstract]

Expense Example, Year 01

238

Expense Example, Years 1 to 3

541

Expense Example, Years 1 to 5

744

Expense Example, Years 1 to 10

1,003

Credit Facility Fiscal 2023

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 9,400,000

Senior Securities Coverage per Unit

^[14]

$ 2,304

Credit Facility Fiscal 2022

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 168,830,000

Senior Securities Coverage per Unit

^[14]

$ 1,784

Credit Facility Fiscal 2021

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 219,400,000

Senior Securities Coverage per Unit

^[14]

$ 1,746

Credit Facility Fiscal 2020

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 308,599,000

Senior Securities Coverage per Unit

^[14]

$ 1,677

Credit Facility Fiscal 2019

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 265,308,000

Senior Securities Coverage per Unit

^[14]

$ 1,786

Credit Facility Fiscal 2018

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 333,728,000

Senior Securities Coverage per Unit

^[14]

$ 2,122

Credit Facility Fiscal 2017

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 253,783,000

Senior Securities Coverage per Unit

^[14]

$ 2,780

Credit Facility Fiscal 2016

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 232,908,000

Senior Securities Coverage per Unit

^[14]

$ 2,601

Credit Facility Fiscal 2015

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 29,600,000

Senior Securities Coverage per Unit

^[14]

$ 13,598

Credit Facility Fiscal 2014

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 146,400,000

Senior Securities Coverage per Unit

^[14]

$ 2,469

Notes 2023 Fiscal 2023

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 76,219,000

Senior Securities Coverage per Unit

^[14]

$ 2,304

Notes 2023, Fiscal 2022

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 97,006,000

Senior Securities Coverage per Unit

^[14]

$ 1,784

Notes 2023, Fiscal 2021

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 117,793,000

Senior Securities Coverage per Unit

^[14]

$ 1,746

Notes 2023, Fiscal 2020

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 138,580,000

Senior Securities Coverage per Unit

^[14]

$ 1,677

Notes 2023, Fiscal 2019

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 138,580,000

Senior Securities Coverage per Unit

^[14]

$ 1,786

Notes 2023, Fiscal 2018

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 138,580,000

Senior Securities Coverage per Unit

^[14]

$ 2,122

Notes 2026 Fiscal 2023

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 185,000,000

Senior Securities Coverage per Unit

^[14]

$ 2,304

Notes 2026, Fiscal 2022

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 185,000,000

Senior Securities Coverage per Unit

^[14]

$ 1,784

Notes 2026, Fiscal 2021

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 100,000,000

Senior Securities Coverage per Unit

^[14]

$ 1,746

Asset Backed Debt 2031 Fiscal 2023

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 228,000,000

Senior Securities Coverage per Unit

^[14]

$ 2,304

Asset Backed Debt 2031, Fiscal 2022

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 228,000,000

Senior Securities Coverage per Unit

^[14]

$ 1,784

Asset Backed Debt 2031, Fiscal 2021

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 228,000,000

Senior Securities Coverage per Unit

^[14]

$ 1,746

Asset Backed Debt 2031, Fiscal 2020

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 228,000,000

Senior Securities Coverage per Unit

^[14]

$ 1,677

Asset Backed Debt 2031, Fiscal 2019

Financial Highlights [Abstract]

Senior Securities Amount

^[13]

$ 228,000,000

Senior Securities Coverage per Unit

^[14]

$ 1,786

[1]

In the event that the securities to which any applicable prospectus relates are sold to or through underwriters or agents, a corresponding prospectus supplement will disclose the applicable sales load.

[2]

In the event that we conduct an offering of our securities, a corresponding prospectus supplement will disclose the estimated amount of offering expenses, the offering price and the offering expenses borne by us as a percentage of the offering price.

[3]

Net assets attributable to common shares equals average net assets for the fiscal year ended September 30, 2023.

[4]

[5]

As of September 30, 2023, we had $9.4 million in borrowings outstanding under the Credit Facility, $76.2 million outstanding under our 2023 Notes, $185.0 million outstanding under of 2026 Notes and $228.0 million outstanding under the 2031 Asset-Backed Debt. We may use proceeds of an offering of securities under any applicable registration statement to repay outstanding obligations under the Credit Facility. After completing any such offering, we may continue to borrow under the Credit Facility to finance our investment objectives. Annual interest expense on borrowed funds represents actual interest expense, amendment costs incurred on the Credit Facility, and debt issuance costs, if any, for the fiscal year ended September 30, 2023 and we caution you that our actual interest expense in the future will depend on prevailing interest rates and our rate of borrowing, which may be substantially higher than the amount provided in this table.

[6]

[7]

[8]

[9]

[10]

[11]

Calculated as the respective high or low closing sales price less NAV per share, divided by the quarter-end NAV per share.

[12]

[13]


(1)	Total cost of each class of senior securities outstanding at the end of the period presented in thousands (000s).

[14]


(2)	The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by senior securities representing indebtedness at par. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage Per Unit.

Debt - Additional Information (Details) - USD ($) $ in Thousands								1 Months Ended					12 Months Ended
	Dec. 15, 2023	Jul. 24, 2023	Dec. 15, 2022	Dec. 15, 2021	Dec. 15, 2020	Apr. 06, 2018	Apr. 05, 2018	Oct. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2019	Nov. 30, 2017	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Annualized weighted average cost of debt													6.30%	4.50%	3.90%
Asset coverage ratio requirement													150.00%
Credit Facility payable													$ 9,400	$ 167,563
2035 Asset-backed debt net (par-$246,000)													$ 76,200	$ 97,000
Percentage of public offering price per notes issued								101.50%	99.40%
Senior Securities
Debt Instrument [Line Items]
Asset coverage ratio requirement						150.00%	200.00%						230.00%	178.00%
Truist Credit Facility
Debt Instrument [Line Items]
Annualized weighted average cost of debt													7.70%	4.90%
Credit Facility payable													$ 386,000
Basis points description													Credit Facility bears interest at SOFR (or an alternative risk-free floating interest rate index) plus 236 basis points and, after the revolving period, the rate will reset to Base Rate (or an alternative risk-free floating interest rate index) plus 250 basis points for the remaining two years, maturing in August 2026
Maturity date													Aug. 31, 2026
Revolving period end date													2024-08
Outstanding borrowings													$ 9,400	$ 168,800
Unused borrowing capacity													$ 376,600	$ 197,200
Percentage of equity interest in funding													100.00%
Increasing the facility		$ 20,000
Truist Credit Facility \| SOFR
Debt Instrument [Line Items]
Basis points description													236 basis points
Two Thousand And Twenty Six Notes
Debt Instrument [Line Items]
Notes issued								$ 85,000	$ 100,000				$ 185,000
Debt instrument, interest rate				4.25%
Interest payment terms													Interest on the 2026 Notes is paid semi-annually on April 1 and October 1 of each year, at a rate of 4.25% per year, commencing October 1, 2021
Debt instrument, periodic payment														semi-annually
Debt instrument, maturity date					Apr. 01, 2026
2023 Notes
Debt Instrument [Line Items]
Notes issued												$ 138,600
2035 Asset-backed debt net (par-$246,000)												$ 138,600
Debt instrument, interest rate										4.30%
Interest payment terms														Interest on the 2023 Notes is payable semi-annually in arrears on June 15 and December 15 of each year, commencing June 15, 2018
Debt instrument, periodic payment													four annual installments
Percentage of original principal amount payable			15.00%	15.00%	15.00%
2023 Notes \| Scenario Forecast
Debt Instrument [Line Items]
Percentage of original principal amount payable	55.00%
Class D Secured Deferrable Floating Rate Notes
Debt Instrument [Line Items]
Annualized weighted average cost of debt													7.10%	4.60%
SBA Debentures
Debt Instrument [Line Items]
Debt securitization amount											$ 301,400
2031 Asset-Backed Debt
Debt Instrument [Line Items]
Percentage of preferred shares of securitization issuer											100.00%
Preferred shares of securitization issuer											$ 55,400
Asset backed debt													$ 228,000	$ 228,000
Unamortized fees													$ 1,200	$ 1,900
2031 Asset-Backed Debt \| SOFR
Debt Instrument [Line Items]
Percentage points added to reference rate													1.80%
2031 Asset-Backed Debt \| Class A-1 Senior Secured Floating Rate Loans
Debt Instrument [Line Items]
Debt instrument											$ 78,500
Reference rate description													three-month SOFR plus 1.8%
2031 Asset-Backed Debt \| Class A-2 Senior Secured Fixed Rate Notes due 2031
Debt Instrument [Line Items]
Debt instrument, interest rate											3.70%
Debt instrument											$ 15,000
2031 Asset-Backed Debt \| Class B-1 Senior Secured Floating Rate Notes due 2031
Debt Instrument [Line Items]
Debt instrument											$ 14,000
Reference rate description														three-month SOFR plus 2.9%
2031 Asset-Backed Debt \| Class B-1 Senior Secured Floating Rate Notes due 2031 \| SOFR
Debt Instrument [Line Items]
Percentage points added to reference rate											2.90%
2031 Asset-Backed Debt \| Class B-2 Senior Secured Fixed Rate Notes due 2031
Debt Instrument [Line Items]
Debt instrument, interest rate											4.30%
Debt instrument											$ 16,000
2031 Asset-Backed Debt \| Class C 1 Secured Deferrable Floating Rate Notes due 2031
Debt Instrument [Line Items]
Debt instrument											$ 19,000
Reference rate description													plus 4.0%
2031 Asset-Backed Debt \| Class C 1 Secured Deferrable Floating Rate Notes due 2031 \| SOFR
Debt Instrument [Line Items]
Percentage points added to reference rate											4.00%
2031 Asset-Backed Debt \| Class C-2 Secured Deferrable Fixed Rate Notes due 2031
Debt Instrument [Line Items]
Debt instrument, interest rate											5.40%
Debt instrument											$ 8,000
2031 Asset-Backed Debt \| Class D Secured Deferrable Floating Rate Loans due 2031
Debt Instrument [Line Items]
Debt instrument											$ 18,000
Reference rate description													three-month SOFR plus 4.8%
2031 Asset-Backed Debt \| Class D Secured Deferrable Floating Rate Loans due 2031 \| SOFR
Debt Instrument [Line Items]
Percentage points added to reference rate											4.80%
2031 Asset-Backed Debt \| Class A 1 Senior Secured Floating Rate Notes due 2031
Debt Instrument [Line Items]
Debt instrument											$ 77,500
Reference rate description													three-month SOFR plus 1.8%
2031 Asset-Backed Debt \| Class A 1 Senior Secured Floating Rate Notes due 2031 \| SOFR
Debt Instrument [Line Items]
Percentage points added to reference rate											1.80%
2031 Asset-Backed Debt \| Class D Secured Deferrable Floating Rate Notes
Debt Instrument [Line Items]
Percentage of notes issued by securitization issuer											100.00%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net increase in net assets resulting from operations	$ 39,261	$ 3,453	$ 56,516
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:
Net change in unrealized (depreciation) appreciation on investments	12,565	24,512	(41,295)
Net change in unrealized (depreciation) appreciation on debt	2,284	4,943	11,609
Net realized loss on investments	15,892	11,106	12,796
Net accretion of discount and amortization of premium	(5,200)	(4,194)	(3,243)
Purchases of investments	(324,546)	(607,765)	(661,112)
Payment-in-kind interest	(1,296)	(1,389)	(3,020)
Proceeds from dispositions of investments	399,085	495,191	702,129
Amortization of deferred financing costs	1,408	737	961
(Increase) decrease in interest receivable	(2,880)	(2,097)	(1,772)
Decrease (increase) in receivable for investments sold	3,441	30,525	(33,966)
(Increase) decrease in dividend receivable	(565)	0	0
(Increase) decrease in prepaid expenses and other assets	(146)	(748)	173
(Decrease) increase in payable for investments purchased	4,905	(13,546)	9,746
Increase in interest payable on debt	452	2,708	1,853
(Decrease) increase in base management fee payable	(268)	320	(70)
Increase (Decrease) in performance-based incentive fee payable	1,464	2,540	(1,448)
Increase (decrease) in deferred tax liability	(2,774)	4,568
Increase (Decrease) in accrued other expenses	522	(826)	(285)
Increase (Decrease) in due to affiliates	(3,042)	3,383	225
Net cash (used in) provided by operating activities	140,562	(46,579)	49,797
Cash flows from financing activities:
Public offering	148,408	81,936	1,403
Offering costs	(705)	(1,973)	(364)
Distributions paid to stockholders	(58,739)	(46,067)	(44,207)
Borrowings under Credit Facility (See Notes 5 and 11)	65,000	147,254	346,500
Repayments under Credit Facility (See Notes 5 and 11)	(224,709)	(197,000)	(435,699)
Net cash provided by (used in) financing activities	(91,532)	47,696	(56,313)
Net decrease in cash and cash equivalents	49,030	1,117	(6,516)
Effect of exchange rate changes on cash	37	320	(945)
Cash and cash equivalents, beginning of year	51,488	50,051	57,512
Cash and cash equivalents, end of year	100,555	51,488	50,051
Supplemental disclosures:
Interest paid	36,306	26,091	18,837
Taxes paid	530	1,167	405
Non-cash exchanges and conversions	3,393	50,352	20,491
2023 Notes
Cash flows from financing activities:
Repayment of 2023 Notes (See Notes 5 and 11)	(20,787)	(20,787)	(20,787)
2026 Notes
Cash flows from financing activities:
Proceeds from 2026 Notes issuance (See Notes 5 and 11)	$ 0	$ 84,333	$ 96,841

Unconsolidated Significant Subsidiaries

12 Months Ended

Sep. 30, 2023

Investments in and Advances to Affiliates [Abstract]

Unconsolidated Significant Subsidiaries

13. UNCONSOLIDATED SIGNIFICANT SUBSIDIARIES

We must determine which, if any, of our unconsolidated controlled portfolio companies is a "significant subsidiary" within the meaning of Regulation S-X. We have determined that, as of September 30, 2023, PennantPark Senior Secured Loan Fund I LLC triggered at least one of the significance tests. As a result and in accordance with Rule 3-09 of Regulation S-X, separate audited financial statements of PennantPark Senior Secured Loan Fund I LLC for the years ended September 30, 2023, 2022, and 2021 are being filed herewith as Exhibit 99.3 and Exhibit 99.4.

Fair Value of Financial Instruments - Reconciliation of Investments Measured at Fair Value Using Significant Unobservable Inputs Level 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Unrealized Gain (Loss), Investment and Derivative, Operating, before Tax	Unrealized Gain (Loss), Investment and Derivative, Operating, before Tax
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Unrealized Gain (Loss), Investment and Derivative, Operating, before Tax	Unrealized Gain (Loss), Investment and Derivative, Operating, before Tax
Level 3
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 1,104,927	$ 1,021,189
Net realized losses	(16,437)	(11,464)
Net change in unrealized depreciation/appreciation	(4,969)	(6,006)
Purchases, PIK interest, net discount accretion and non-cash exchanges	322,512	620,192
Sales, repayments and non-cash exchanges	(399,085)	(518,984)
Ending Balance	1,006,948	1,104,927
Net change in unrealized appreciation reported within the net change in unrealized appreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	(18,684)	(3,663)
First lien \| Level 3
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	1,009,642	934,419
Net realized losses	(18,585)	894
Net change in unrealized depreciation/appreciation	7,008	(17,661)
Purchases, PIK interest, net discount accretion and non-cash exchanges	302,095	593,144
Sales, repayments and non-cash exchanges	(393,994)	(501,154)
Ending Balance	906,166	1,009,642
Net change in unrealized appreciation reported within the net change in unrealized appreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	(9,771)	(15,247)
Second Lien, Subordinated Debt and Equity Investments \| Level 3
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	95,285	86,770
Net realized losses	2,148	(12,358)
Net change in unrealized depreciation/appreciation	(11,977)	11,655
Purchases, PIK interest, net discount accretion and non-cash exchanges	20,417	27,048
Sales, repayments and non-cash exchanges	(5,091)	(17,830)
Ending Balance	100,782	95,285
Net change in unrealized appreciation reported within the net change in unrealized appreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	$ (8,913)	$ 11,584

Consolidated Schedule of Investments (Parenthetical)

Sep. 30, 2023

Sep. 30, 2022

Investment, Identifier [Axis]: Affiliated Investments

Schedule Of Investments [Line Items]

Percentage of voting securities owned

5.00%

Investment, Identifier [Axis]: Assets-100.0%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

100.00%

Investment, Identifier [Axis]: Cash and Cash Equivalents—15.3%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

15.30%

Investment, Identifier [Axis]: Controlled Affiliated Investments

Schedule Of Investments [Line Items]

Percentage of voting securities owned

25.00%

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[1],[2]

45.10%

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1% , Equity Interests—8.3%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

8.30%

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1% , First Lien Secured Debt—36.8%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

36.80%

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[3],[4]

51.40%

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Equity Interests—9.6%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

9.60%

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[3],[4]

41.80%

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—133.9% Common Equity/Warrants— 14.5%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[5]

14.50%

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—133.9% Preferred Equity— 1.8%%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[5]

1.80%

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—133.9% Second Lien Secured Debt—0.0%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

0.00%

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[1],[2]

118.10%

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%,First Lien Secured Debt—101.9%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[1],[2]

101.90%

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[3],[4]

169.50%

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[6]

18.10%

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5%, First Lien Secured Debt—149.7%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

^[3],[4]

149.70%

Investment, Identifier [Axis]: Investments—220.9%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

220.90%

Investment, Identifier [Axis]: Liabilities in Excess of Other Assets—(78.6)%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

78.60%

Investment, Identifier [Axis]: Minimum Qualifying Assets

Schedule Of Investments [Line Items]

Percentage of qualifying assets to total assets

70.00%

Investment, Identifier [Axis]: Net Assets—100.0%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

100.00%

Investment, Identifier [Axis]: Non Controlled Affiliated Investments

Schedule Of Investments [Line Items]

Percentage of voting securities owned

25.00%

Investment, Identifier [Axis]: Non-Affiliated Investments

Schedule Of Investments [Line Items]

Percentage of voting securities owned

5.00%

Investment, Identifier [Axis]: Non-Qualifying Assets

Schedule Of Investments [Line Items]

Percentage of non-qualifying assets to total assets

24.00%

19.00%

Investment, Identifier [Axis]: Qualifying Assets

Schedule Of Investments [Line Items]

Percentage of qualifying assets to total assets

76.00%

81.00%

Investment, Identifier [Axis]: Total Investments and Cash Equivalents—178.6%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

178.60%

Investment, Identifier [Axis]: Total Investments—163.3%

Schedule Of Investments [Line Items]

Investment Owned, Net Assets, Percentage

163.30%

[1]	The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.
[2]	The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
[3]	The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.
[4]	The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
[5]	Non-income producing securities.
[6]	Non-income producing securities.

Investments - Schedule of Investments and Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash and cash equivalents	$ 100,555	$ 51,488
Cost
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	1,092,878	1,177,357
Cash and cash equivalents	100,555	51,525
Total investments and cash and cash equivalents	1,193,433	1,228,882
Cost \| First lien
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	708,452	838,842
Cost \| First lien in PSSL
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	210,088	190,181
Cost \| Second lien
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	1,113	1,113
Cost \| Equity
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	83,188	65,715
Cost \| Equity interests in PSSL
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	90,038	81,506
Fair Value
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	1,067,174	1,164,254
Cash and cash equivalents	100,555	51,488
Total investments and cash and cash equivalents	1,167,729	1,215,742
Fair Value \| First lien
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	696,078	819,461
Fair Value \| First lien in PSSL
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	210,088	190,181
Fair Value \| Second lien
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	149	147
Fair Value \| Equity
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	109,978	105,031
Fair Value \| Equity interests in PSSL
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total investments	$ 50,881	$ 49,434

Investments - Summary of Listing of PSSL's Individual Investments (Parenthetical) (Details)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2023
Investment, Identifier [Axis]: Cash and Cash Equivalents - 53.4%
Schedule of Investments [Line Items]
Investment owned, percent of liabilities in excess of other assets	53.40%
Investment, Identifier [Axis]: First Lien Secured Debt - 1,330.4%
Schedule of Investments [Line Items]
Investment owned, percent of liabilities in excess of other assets	1330.40%
Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 0.3%
Schedule of Investments [Line Items]
Investment owned, percent of net assets	0.30%
Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,464.6%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		1347.50%
Investment, Identifier [Axis]: Related Party PSSL Members Equity-100.0%
Schedule of Investments [Line Items]
Investment owned, percent of members' equity	100.00%
Investment, Identifier [Axis]: Related Party PSSL Second Lien Secured Debt - 5.2%
Schedule of Investments [Line Items]
Investment owned, percent of net assets	5.20%
Investment, Identifier [Axis]: Related Party PSSL, Cash and Cash Equivalents - 133.2%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		133.20%
Investment, Identifier [Axis]: Related Party PSSL, Equity - 100.0%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		100.00%
Investment, Identifier [Axis]: Related Party PSSL, Equity Securities - 3.9%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		3.90%
Investment, Identifier [Axis]: Related Party PSSL, Liabilities in Excess of Other Assets — (1,385.4)%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		1385.40%
Investment, Identifier [Axis]: Related Party PSSL, Total Investments - 1,351.4%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		1351.40%
Investment, Identifier [Axis]: Related Party PSSL, Total Investments and Cash Equivalents —1,485.4%
Schedule of Investments [Line Items]
Investment owned, percent of net assets		1485.40%
Investment, Identifier [Axis]: Total Investments - 1,335.9%
Schedule of Investments [Line Items]
Investment owned, percent of liabilities in excess of other assets	1335.90%

Fair value of Financial Instruments

12 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

5. FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value, as defined under ASC 820 is the price that we would receive upon selling an investment or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment or liability. ASC 820 emphasizes that valuation techniques maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing an asset or liability based on market data obtained from sources independent of us. Unobservable inputs reflect the assumptions market participants would use in pricing an asset or liability based on the best information available to us on the reporting period date.

ASC 820 classifies the inputs used to measure these fair values into the following hierarchies:

Level 1: Inputs that are quoted prices (unadjusted) in active markets for identical assets or liabilities, accessible by us at the measurement date.

Level 2: Inputs that are quoted prices for similar assets or liabilities in active markets, or that are quoted prices for identical or similar assets or liabilities in markets that are not active and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term, if applicable, of the financial instrument.

Level 3: Inputs that are unobservable for an asset or liability because they are based on our own assumptions about how market participants would price the asset or liability.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Generally, most of our investments, our 2031 Asset-Backed Debt, 2023 Notes and the Credit Facility are classified as Level 3. Our 2026 Notes are classified as Level 2 as they are financial instruments with readily observable market inputs. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the price used in an actual transaction may be different than our valuation and those differences may be material.

The inputs into the determination of fair value may require significant management judgment or estimation. Even if observable market data is available, such information may be the result of consensus pricing information, disorderly transactions or broker quotes which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimer would result in classification as Level 3 information, assuming no additional corroborating evidence were available. Corroborating evidence that would result in classifying these non-binding broker/dealer bids as a Level 2 asset includes observable orderly market-based transactions for the same or similar assets or other relevant observable market-based inputs that may be used in pricing an asset.

Our investments are generally structured as floating rate loans, mainly first lien secured debt, but also may include second lien secured debt, subordinated debt and equity investments. The transaction price, excluding transaction costs, is typically the best estimate of fair value at inception. Ongoing reviews by our Investment Adviser and independent valuation firms are based on an assessment of each underlying investment, incorporating valuations that consider the evaluation of financing and sale transactions with third parties, expected cash flows and market-based information including comparable transactions, performance multiples and yields, among other factors. These non-public investments valued using unobservable inputs are included in Level 3 of the fair value hierarchy.

A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in our ability to observe valuation inputs may result in a reclassification for certain financial assets or liabilities.

In addition to using the above inputs to value cash equivalents, investments, our 2023 Notes, our 2026 Notes, our 2031 Asset-Backed Debt and the Credit Facility, we employ the valuation policy approved by our board of directors that is consistent with ASC 820. Consistent with our valuation policy, we evaluate the source of inputs, including any markets in which our investments are trading, in determining fair value. See Note 2.

As outlined in the table below, some of our Level 3 investments using a market approach valuation technique are valued using the average of the bids from brokers or dealers. The bids include a disclaimer, may not have corroborating evidence, may be the result of a disorderly transaction and may be the result of consensus pricing. The Investment Adviser assesses the source and reliability of bids from brokers or dealers. If the board of directors has a bona fide reason to believe any such bids do not reflect the fair value of an investment, it may independently value such investment by using the valuation procedure that it uses with respect to assets for which market quotations are not readily available. In accordance with ASC 820, we do not categorize any investments for which fair value is measured using the net asset value per share as a practical expedient within the fair value hierarchy.

The remainder of our investment portfolio and our long-term Credit Facility are valued using a market comparable or an enterprise market value technique. With respect to investments for which there is no readily available market value, the factors that the board of directors may take into account in pricing our investments at fair value include, as relevant, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, its earnings and discounted cash flow, the markets in which the portfolio company does business, comparison to publicly traded securities and other relevant factors. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, the pricing indicated by the external event, excluding transaction costs, is used to corroborate the valuation. When using earnings multiples to value a portfolio company, the multiple used requires the use of judgment and estimates in determining how a market participant would price such an asset. These non-public investments using unobservable inputs are included in Level 3 of the fair value hierarchy. Generally, the sensitivity of unobservable inputs or combination of inputs such as industry comparable companies, market outlook, consistency, discount rates and reliability of earnings and prospects for growth, or lack thereof, affects the multiple used in pricing an investment. As a result, any change in any one of those factors may have a significant impact on the valuation of an investment. Generally, an increase in a market yield will result in a decrease in the valuation of a debt investment, while a decrease in a market yield will have the opposite effect. Generally, an increase in an earnings before interest, taxes, depreciation and amortization, or EBITDA, multiple will result in an increase in the valuation of an investment, while a decrease in an EBITDA multiple will have the opposite effect.

Our Level 3 valuation techniques, unobservable inputs and ranges were categorized as follows for ASC 820 purposes ($ in thousands):


Asset Category	Fair value at September 30, 2023		Valuation Technique	Unobservable Input	Range of Input (Weighted Average) (1)
First lien	$	25,521	Market Comparable	Broker/Dealer bids or quotes	N/A
First lien		875,133	Market Comparable	Market Yield	10.0% - 25.0% (12.6%)
First lien		5,512	Enterprise Market Value	EBITDA multiple	2.8x - 7.5x (7.4x)
Second lien		149	Market Comparable	Market Yield	14.8%
Second lien		—	Enterprise Market Value	EBITDA multiple	6.0x
Equity		100,489	Enterprise Market Value	EBITDA multiple	3.4x - 17.7x (12.1x)
Equity		144	Enterprise Market Value	DLOM	27.9%
Total Level 3 investments	$	1,006,948
Long-Term Credit Facility and 2023 Notes	$	85,619	Market Comparable	Market Yield	2.3%


Asset Category	Fair value at September 30, 2022		Valuation Technique	Unobservable Input	Range of Input (Weighted Average) (1)
First lien	$	70,363	Market Comparable	Broker/Dealer bids or quotes	N/A
First lien		930,806	Market Comparable	Market Yield	8.2% – 21.0% (10.9%)
First lien		8,473	Enterprise Market Value	EBITDA multiple	14.0
Second lien		147	Market Comparable	Market Yield	14.7%
Second lien		—	Enterprise Market Value	EBITDA multiple	6.0x
Equity		89,906	Enterprise Market Value	EBITDA multiple	3.3x – 21.4x (12.5x)
Equity		5,232	Enterprise Market Value	DLOM	11.8%
Total Level 3 investments	$	1,104,927
Long-Term Credit Facility	$	167,563	Market Comparable	Market Yield	2.5%

(1)

The weighted averages disclosed in the table above were weighted by their relative fair value.

Our investments, cash and cash equivalents, Credit Facility, as applicable, 2023 Notes, 2026 Notes and 2031 Asset-Backed Debt were categorized as follows in the fair value hierarchy for ASC 820 purposes ($ in thousands):


	Fair Value at September 30, 2023
Description	Fair Value		Level 1		Level 2		Level 3		Measured at Net Asset Value (1)
First lien	$	906,166	$	—	$	—	$	906,166	$	—
Second lien		149		—		—		149		—
Equity		160,859		—		—		100,633		60,226
Total investments		1,067,174		—		—		1,006,948		60,226
Cash and cash equivalents		100,555		100,555		—		—		—
Total investments and cash and cash equivalents	$	1,167,729	$	100,555	$	—	$	1,006,948	$	60,226
Credit Facility payable	$	9,400	$	—	$	—	$	9,400	$	—
2023 Notes payable		76,219		—		—		76,219		—
2026 Notes payable (2)		183,054		—		183,054		—		—
2031 Asset-Backed Debt(2)		226,759		—		—		226,759		—
Total debt	$	495,432	$	—	$	183,054	$	312,378	$	—

(1)

In accordance with ASC Subtopic 820-10, Fair Value Measurements and Disclosures, or ASC 820-10, our equity investment in PSSL and PTSF are measured using the net asset value per share (or its equivalent) as a practical expedient for fair value in accordance with the specialized accounting guidance for investment companies, and thus have not been classified in the fair value hierarchy.

(2)

We elected not to apply the fair value option allowed by ASC 825-10 to the 2026 Notes and the 2031 Asset-Backed Debt and thus the balance reported in the Consolidated Statement of Assets and Liabilities represents the carrying value, which approximates the fair value.


	Fair Value at September 30, 2022
Description	Fair Value		Level 1		Level 2		Level 3		Measured at Net Asset Value (1)
First lien	$	1,009,642	$	—	$	—	$	1,009,642	$	—
Second lien		147		—		—		147		—
Equity		154,465		—		—		95,138		59,327
Total investments		1,164,254		—		—		1,104,927		59,327
Cash and cash equivalents		51,488		51,488		—		—		—
Total investments and cash and cash equivalents	$	1,215,742	$	51,488	$	—	$	1,104,927	$	59,327
Credit Facility payable	$	167,563	$	—	$	—	$	167,563	$	—
2023 Notes payable		96,812		96,812		—		—		—
2026 Notes payable (2)		182,276		—		182,276		—		—
2031 Asset-Backed Debt(2)		226,128		—		—		226,128		—
Total debt	$	672,779	$	96,812	$	182,276	$	393,691	$	—

(1)

In accordance with ASC Subtopic 820-10, Fair Value Measurements and Disclosures, or ASC 820-10, our equity investment in PSSL and PTSF is measured using the net asset value per share (or its equivalent) as a practical expedient for fair value in accordance with the specialized accounting guidance for investment companies, and thus has not been classified in the fair value hierarchy.

(2)

The tables below show a reconciliation of the beginning and ending balances for fair valued investments measured using significant unobservable inputs (Level 3) ($ in thousands):


	Year Ended September 30, 2023
Description	First Lien			Second lien, subordinated debt and equity investments			Totals
Beginning Balance	$	1,009,642		$	95,285		$	1,104,927
Net realized losses		(18,585	)		2,148			(16,437	)
Net change in unrealized depreciation		7,008			(11,977	)		(4,969	)
Purchases, PIK interest, net discount accretion and non-cash exchanges		302,095			20,417			322,512
Sales, repayments and non-cash exchanges		(393,994	)		(5,091	)		(399,085	)
Transfers in and/or out of Level 3		—			—			—
Ending Balance	$	906,166		$	100,782		$	1,006,948
Net change in unrealized depreciation reported within the net change in unrealized depreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	$	(9,771	)	$	(8,913	)	$	(18,684	)


	Year Ended September 30, 2022
Description	First Lien			Second lien, subordinated debt and equity investments			Totals
Beginning Balance	$	934,419		$	86,770		$	1,021,189
Net realized losses		894			(12,358	)		(11,464	)
Net change in unrealized depreciation		(17,661	)		11,655			(6,006	)
Purchases, PIK interest, net discount accretion and non-cash exchanges		593,144			27,048			620,192
Sales, repayments and non-cash exchanges		(501,154	)		(17,830	)		(518,984	)
Transfers in and/or out of Level 3		—			—			—
Ending Balance	$	1,009,642		$	95,285		$	1,104,927
Net change in unrealized appreciation reported within the net change in unrealized appreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	$	(15,247	)	$	11,584		$	(3,663	)

The table below shows a reconciliation of the beginning and ending balances for liabilities recognized at fair value and measured using significant unobservable inputs (Level 3) ($ in thousands):


	Years Ended September 30,
Long-Term Credit Facility and 2023 Notes	2023			2022
Beginning Balance (cost – $168,830 and $219,400, respectively)	$	167,563		$	218,851
Net change in unrealized (depreciation) appreciation included in earnings		2,090			(1,542	)
Borrowings		65,000			147,254
Repayments		(224,709	)		(197,000	)
Net realized (gain) loss		(544	)		—
Transfers in and/or out of Level 3		76,219			—
Ending Balance (cost – $85,619 and $168,830, respectively)	$	85,619		$	167,563

As of September 30, 2023 we did not have any outstanding non-U.S. dollar borrowings on the Credit Facility.

As of September 30, 2022, we had outstanding non-U.S. dollar borrowings on our Credit Facility. Net change in fair value from foreign currency translation on outstanding borrowings is listed below ($ in thousands):


Foreign Currency	Amount Borrowed		Borrowing Cost		Current Value		Reset Date	Change in Fair Value
Australian Dollar	$	10,000	$	7,254	$	6,430	10/1/22		(824	)

Generally, the carrying value of our consolidated financial liabilities approximates fair value. We have adopted the principles under ASC Subtopic 825-10, Financial Instruments, or ASC 825-10, which provides companies with an option to report selected financial assets and liabilities at fair value, and made an irrevocable election to apply ASC 825-10 to the Credit Facility and the 2023 Notes. We elected to use the fair value option for the Credit Facility and the 2023 Notes to align the measurement attributes of both our assets and liabilities while mitigating volatility in earnings from using different measurement attributes. Due to that election and in accordance with GAAP, we incurred expenses of zero, zero million and $2.9 million relating to amendment costs on the Credit Facility and debt issuance costs on the 2023 Notes during the years ended September 30, 2023, 2022, and 2021, respectively. ASC 825-10 establishes presentation and disclosure requirements designed to facilitate comparisons between companies that choose different measurement attributes for similar types of assets and liabilities and to more easily understand the effect on earnings of a company’s choice to use fair value. ASC 825-10 also requires entities to display the fair value of the selected assets and liabilities on the face of the Consolidated Statements of Assets and Liabilities and changes in fair value of the Credit Facility and the 2023 Notes are reported in our Consolidated Statements of Operations. We elected not to apply ASC 825-10 to any other financial assets or liabilities, including our 2026 Notes and 2031 Asset-Backed Debt.

For the years ended September 30, 2023, 2022, and 2021, the Credit Facility or our Prior Credit Facility, as applicable, the 2023 Notes had a net change in unrealized (appreciation) depreciation of $(2.3)million, $(4.9) million, and $(11.6) million, respectively. As of September 30, 2023 and 2022 , the net unrealized depreciation on the Credit Facility and the 2023 Notes totaled zero and $1.5 million, respectively. We use a nationally recognized independent valuation service to measure the fair value of the Credit Facility and 2023 Notes in a manner consistent with the valuation process that the board of directors uses to value our investments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Transactions with Affiliated Companies - Summary of Transactions with Affiliated Companies (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Investments In And Advances To Affiliates [Line Items]
Fair Value	$ 1,067,174	$ 1,164,254
Net realized loss on investments	(15,892)	(11,106)	$ (12,796)
Marketplace Events, LLC
Investments In And Advances To Affiliates [Line Items]
Fair Value	34,028	31,390
Gross Additions		1,413
Net Change in Unrealized Appreciation (Depreciation)		1,226
Interest Income	4,513
PennantPark Senior Secured Loan Fund I LLC
Investments In And Advances To Affiliates [Line Items]
Fair Value	260,969	239,615
Gross Additions		28,438
Net Change in Unrealized Appreciation (Depreciation)		(7,084)
Interest Income	26,534
Dividend/Other Income	11,463
Controlled, Affiliated Investments
Investments In And Advances To Affiliates [Line Items]
Fair Value	294,996	271,005
Gross Additions		29,850
Net Change in Unrealized Appreciation (Depreciation)		(5,858)
Interest Income	31,047
Dividend/Other Income	11,463
Controlled and Non-Controlled Affiliates
Investments In And Advances To Affiliates [Line Items]
Fair Value	294,996	271,005
Gross Additions		29,850
Net Change in Unrealized Appreciation (Depreciation)		$ (5,858)
Interest Income	31,047
Dividend/Other Income	$ 11,463

Fair Value of Financial Instruments - Summary of Investments, Cash and Cash Equivalents, Credit Facility, or Prior Credit Facility, Notes and Asset Backed Debt (Details) - USD ($)
$ in Thousands

Sep. 30, 2023

Sep. 30, 2022

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

$ 1,067,174

$ 1,164,254

Cash and cash equivalents

100,555

51,488

Investments And Cash And Cash Equivalents Fair Value Disclosure, Total

1,167,729

1,215,742

Credit Facility payable

9,400

167,563

Total debt

495,432

672,779

2023 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

76,219

96,812

2026 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[1]

183,054

182,276

2031 Asset-Backed Debt

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[1]

226,759

226,128

First lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

906,166

1,009,642

Second lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

149

147

Equity

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

160,859

154,465

Level 1

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Cash and cash equivalents

100,555

51,488

Investments And Cash And Cash Equivalents Fair Value Disclosure, Total

100,555

51,488

Credit Facility payable

Total debt

96,812

Level 1 | 2023 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

96,812

Level 1 | 2026 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[2]

Level 1 | 2031 Asset-Backed Debt

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[2]

Level 1 | First lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Level 1 | Second lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Level 1 | Equity

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Level 2

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Cash and cash equivalents

Investments And Cash And Cash Equivalents Fair Value Disclosure, Total

Credit Facility payable

Total debt

183,054

182,276

Level 2 | 2023 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

Level 2 | 2026 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

183,054

^[2]

182,276

^[1]

Level 2 | 2031 Asset-Backed Debt

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[2]

Level 2 | First lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Level 2 | Second lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Level 2 | Equity

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

Level 3

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

1,006,948

1,104,927

Investments And Cash And Cash Equivalents Fair Value Disclosure, Total

1,006,948

1,104,927

Credit Facility payable

9,400

167,563

Total debt

312,378

393,691

Level 3 | 2023 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

76,219

Level 3 | 2031 Asset-Backed Debt

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[1]

226,759

226,128

Level 3 | First lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

906,166

1,009,642

Level 3 | Second lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

149

147

Level 3 | Equity

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

100,633

95,138

Measured at Net Asset Value

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

^[3]

60,226

59,327

Cash and cash equivalents

^[4]

Investments And Cash And Cash Equivalents Fair Value Disclosure, Total

^[3]

60,226

59,327

Credit Facility payable

^[4]

Total debt

^[4]

Measured at Net Asset Value | 2023 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[4]

Measured at Net Asset Value | 2026 Notes Payable

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[2],[4]

Measured at Net Asset Value | 2031 Asset-Backed Debt

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total debt

^[2],[4]

Measured at Net Asset Value | First lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

^[4]

Measured at Net Asset Value | Second lien

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

^[4]

Measured at Net Asset Value | Equity

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total investments

^[3]

$ 60,226

$ 59,327

[1]	We elected not to apply the fair value option allowed by ASC 825-10 to the 2026 Notes and the 2031 Asset-Backed Debt and thus the balance reported in the Consolidated Statement of Assets and Liabilities represents the carrying value, which approximates the fair value.
[2]	We elected not to apply the fair value option allowed by ASC 825-10 to the 2026 Notes and the 2031 Asset-Backed Debt and thus the balance reported in the Consolidated Statement of Assets and Liabilities represents the carrying value, which approximates the fair value.
[3]	In accordance with ASC Subtopic 820-10, Fair Value Measurements and Disclosures, or ASC 820-10, our equity investment in PSSL and PTSF is measured using the net asset value per share (or its equivalent) as a practical expedient for fair value in accordance with the specialized accounting guidance for investment companies, and thus has not been classified in the fair value hierarchy.
[4]	In accordance with ASC Subtopic 820-10, Fair Value Measurements and Disclosures, or ASC 820-10, our equity investment in PSSL and PTSF are measured using the net asset value per share (or its equivalent) as a practical expedient for fair value in accordance with the specialized accounting guidance for investment companies, and thus have not been classified in the fair value hierarchy.

Transactions with Affiliated Companies (Tables)

12 Months Ended

Sep. 30, 2023

Investments in and Advances to Affiliates [Abstract]

Summary of Transactions with Affiliated Companies

Transactions related to our funded investments with both controlled and non-controlled affiliates for the year ended September 30, 2023 were as follows ($ in thousands):


Name of Investment	Fair Value at September 30, 2022		Gross Additions		Sale of/ Distribution from Affiliates		Net Change in Unrealized Appreciation (Depreciation)			Fair Value at September 30, 2023		Interest Income		Dividend/Other Income		Net Realized Gains (Losses)
Controlled Affiliates
Marketplace Events, LLC	$	31,390	$	1,413	$	—	$	1,226		$	34,028	$	4,513	$	—	$	—
PennantPark Senior Secured
Loan Fund I LLC *		239,615		28,438		—		(7,084	)		260,969		26,534		11,463		—
Total Controlled Affiliates	$	271,005	$	29,850	$	—	$	(5,858	)	$	294,996	$	31,047	$	11,463	$	—
Total Controlled and Non-Controlled Affiliates	$	271,005	$	29,850	$	—	$	(5,858	)	$	294,996	$	31,047	$	11,463	$	—

Consolidated Statements of Changes in Net Assets - USD ($)
$ in Thousands

12 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2021

Statement of Stockholders' Equity [Abstract]

Net investment income

$ 67,491

$ 48,582

$ 39,626

Net realized loss on investments

(15,892)

(11,106)

(12,796)

Net change in unrealized appreciation (depreciation) on investments

(12,565)

(24,512)

41,295

Net change in provision for taxes on unrealized appreciation (depreciation) on investments

2,774

(4,568)

Provision for taxes on realized gain on investments

(263)

Net change in unrealized depreciation on debt

2,284

4,943

11,609

Net increase in net assets resulting from operations

39,261

3,453

56,516

Distributions to stockholders:

Distribution of net investment income

$ (60,451)

$ (46,685)

$ (44,207)

Distribution of realized gains

^[1],[2]

$ 0

Total distributions to stockholders

$ (60,451)

$ (46,685)

$ (44,207)

Capital transactions

Public offering (See Note 1)

148,408

81,936

1,403

Offering costs

(705)

(2,223)

(371)

Net increase in net assets resulting from capital transactions

147,703

79,713

1,032

Net increase (decrease) in net assets

126,513

36,481

13,341

Net assets:

Beginning of year

527,092

490,611

477,270

End of year

$ 653,605

$ 527,092

$ 490,611

Capital share activity:

Shares issued from public offering

13,389,064

6,464,910

108,654

[1]	Based on the weighted average shares outstanding for the respective periods.
[2]	The tax status of distributions is calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP, and reported on Form 1099-DIV each calendar year.

Fair Value of Financial Instruments - Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs Level 3 (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Long-Term Credit Facility
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Cost	$ 85,619	$ 168,830	$ 219,400

Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands

Sep. 30, 2023

Sep. 30, 2022

Investments at fair value

Total of investments

$ 1,067,174

$ 1,164,254

Cash and cash equivalents

100,555

51,488

Interest receivable

10,423

7,543

Receivable for investments sold

3,441

Distribution receivable

565

Prepaid expenses and other assets

894

748

Total assets

1,179,611

1,227,474

Liabilities

Distributions payable

6,020

4,308

Payable for investments purchased

4,905

Credit Facility payable, at fair value (cost-$9,400 and $168,830, respectively) (See Notes 5 and 11)

9,400

167,563

2031 Asset-Backed Debt, net (par-$228,000) (See Notes 5 and 11)

226,759

226,128

Interest payable on debt

8,615

8,163

Base management fee payable (See Note 3)

2,759

3,027

Performance-based incentive fee payable (See Note 3)

4,628

3,164

Accrued other expenses

1,287

765

Deferred tax liability

1,794

4,568

Due to Affiliates

566

3,608

Total liabilities

526,006

700,382

Commitments and contingencies (See Note 12)

Net assets

Common stock, 58,734,702 and 45,345,638 shares issued and outstanding, respectively Par value $0.001 per share and 100,000,000 shares authorized

Paid-in capital in excess of par value

765,187

618,028

Accumulated deficit

(111,641)

(90,981)

Total net assets

653,605

527,092

Total liabilities and net assets

$ 1,179,611

$ 1,227,474

Net asset value per share

^[1]

$ 11.13

$ 11.62

2023 Notes Payable

Liabilities

Notes payable, net

$ 76,219

$ 96,812

2026 Notes Payable

Liabilities

Notes payable, net

183,054

182,276

Non-controlled, Non-affiliated Investments

Investments at fair value

Total of investments

772,178

893,249

Controlled, Affiliated Investments

Investments at fair value

Total of investments

$ 294,996

$ 271,005

[1]	NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.

Agreements and Related Party Transactions - Additional Information (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Annual rate of base management fee	1.00%
Base management fee	$ 11,400,000	$ 11,900,000	$ 10,700,000
Base management fee calculation description	The base management fee is calculated based on the average adjusted gross assets at the end of the two most recently completed calendar quarters, and appropriately adjusted for any share issuances or repurchases during the current calendar quarter.
Incentive fee quarter hurdle rate	1.75%
Incentive fee annual hurdle rate	7.00%
Incentive fees on net investment income	$ 16,900,000	11,600,000	5,300,000
Description of incentive fee on net investment income	We pay the Investment Adviser an incentive fee with respect to our Pre-Incentive Fee Net Investment Income in each calendar quarter as follows: (1) no incentive fee in any calendar quarter in which our Pre-Incentive Fee Net Investment Income does not exceed the hurdle rate of 1.75%, (2) 50% of our Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than 2.9167% in any calendar quarter (11.67% annualized) (we refer to this portion of our Pre-Incentive Fee Net Investment Income (which exceeds the hurdle but is less than 2.9167%) as the “catch-up,” which is meant to provide our Investment Adviser with 20% of our Pre-Incentive Fee Net Investment Income, as if a hurdle did not apply, if this net investment income exceeds 2.9167% in any calendar quarter), and (3) 20% of the amount of our Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.9167% in any calendar quarter.
Incentive fee on capital gains percentage	20.00%
Incentive fee on capital gains accrued	$ 0	0	0
Incentive fee on unrealized and realized capital gains accrued	0	0	0
Administrative services expenses	999,000	575,000	900,000
Net investment income	67,491,000	48,582,000	39,626,000
Due to Affiliates	566,000	3,608,000
Other Related Party
Related Party Transaction [Line Items]
Net investment income	0
Net realized gains (loss) on sale of investment	0	0	0
PennantPark Senior Secured Loan Fund I LLC
Related Party Transaction [Line Items]
Administrative services expenses	2,103,000	1,835,000
Net investment income	158,200,000	275,600,000	285,800,000
Net realized gains (loss) on sale of investment	200,000	800,000	400,000
Due to Affiliates	600,000	3,600,000
Administrator
Related Party Transaction [Line Items]
Administrative services expenses	1,000,000	$ 600,000	$ 1,100,000
Incentive Fee Payment Condition One
Related Party Transaction [Line Items]
Incentive fees on net investment income	$ 0
Incentive Fee Payment Condition One \| Maximum
Related Party Transaction [Line Items]
Incentive fee quarter hurdle rate	1.75%
Incentive Fee Payment Condition Two
Related Party Transaction [Line Items]
Pre-incentive fee net investment income percentage	50.00%
Incentive Fee Payment Condition Two \| Maximum
Related Party Transaction [Line Items]
Incentive fee quarter hurdle rate	2.9167%
Incentive fee annual hurdle rate	11.67%
Incentive Fee Payment Condition Two \| Minimum
Related Party Transaction [Line Items]
Incentive fee quarter hurdle rate	2.9167%
Pre-incentive fee net investment income percentage	20.00%
Incentive Fee Payment Condition Three
Related Party Transaction [Line Items]
Pre-incentive fee net investment income percentage	20.00%
Incentive Fee Payment Condition Three \| Minimum
Related Party Transaction [Line Items]
Incentive fee quarter hurdle rate	2.9167%

Change in Net Assets from Operations Per Common Share - Summary of Information Sets Forth for Computation of Basic and Diluted Per Share Net Increase in Net Assets Resulting from Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2019

Earnings Per Share [Abstract]

Numerator for net increase in net assets resulting from operations

$ 39,261

$ 3,453

$ 56,516

Denominator for basic weighted average shares

50,832,980

41,060,541

38,766,831

Denominator for diluted weighted average shares

50,832,980

41,060,541

38,766,831

Basic and diluted net increase in net assets per share resulting from operations

^[1]

$ 0.77

$ 0.08

$ 1.46

$ 0.47

$ 0.29

[1]	Based on the weighted average shares outstanding for the respective periods.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Taxes and Distributions - Summary of Tax Characteristics of Distributions Declared (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Ordinary income (including short-term gains, if any)

$ 60,451

$ 46,685

$ 44,207

Total distributions

$ 60,451

$ 46,685

$ 44,207

Total distributions per share based on weighted average shares

^[1],[2]

$ 1.19

$ 1.14

[1]	Based on the weighted average shares outstanding for the respective periods.
[2]	The tax status of distributions is calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP, and reported on Form 1099-DIV each calendar year.

Fair Value of Financial Instruments - Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs Level 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Net realized (gain) loss	$ (15,892)	$ (11,106)	$ (12,796)
Level 3 \| Long-Term Credit Facility
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	167,563	218,851
Net change in unrealized (depreciation) appreciation included in earnings	2,090	(1,542)
Borrowings	65,000	147,254
Repayments	(224,709)	197,000
Net realized (gain) loss	(544)	0
Transfers in and/or out of Level 3	76,219	0
Ending Balance	$ 85,619	$ 167,563	$ 218,851

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 39,261	$ 3,453	$ 56,516

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Fair Value of Financial Instruments - Net Change in Fair Value on Foreign Currency Translation on Outstanding Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2023
Net Change In Fair Value On Foreign Currency Translation On Outstanding Borrowings [Line Items]
Line of Credit	$ 167,563	$ 9,400
Borrowing Cost	168,830	$ 9,400
Prior Credit Facility
Net Change In Fair Value On Foreign Currency Translation On Outstanding Borrowings [Line Items]
Line of Credit	10,000
Borrowing Cost	7,254
Current Value	$ 6,430
Reset Date	Oct. 01, 2022
Change in Fair Value	$ (824)

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Organization

12 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

1. ORGANIZATION

PennantPark Floating Rate Capital Ltd. was organized as a Maryland corporation in October 2010. We are a closed-end, externally managed, non-diversified investment company that has elected to be treated as a BDC under the 1940 Act. On April 14, 2022, listing and trading of the Company's common stock commenced on the New York Stock Exchange after the Company voluntarily withdrew the principal listing of its common stock from the Nasdaq Stock Market LLC effective at market close on April 13, 2022.

Our investment objectives are to generate both current income and capital appreciation while seeking to preserve capital. We seek to achieve our investment objective by investing primarily in floating rate loans and other investments made to U.S. middle-market private companies whose debt is rated below investment grade. Floating rate loans pay interest at variable rates, which are determined periodically, on the basis of a floating base lending rate such as LIBOR, with or without a floor, plus a fixed spread. Under normal market conditions, we generally expect that at least 80% of the value of our managed assets will be invested in floating rate loans and other investments bearing a variable rate of interest, which may include, from time to time, variable rate derivative instruments. We generally expect that first lien secured debt will represent at least 65% of our overall portfolio. We generally expect to invest up to 35% of our overall portfolio opportunistically in other types of investments, including second lien secured debt, subordinated debt, and, to a lesser extent, equity investments.

We have entered into an investment management agreement, or the Investment Management Agreement with the Investment Adviser, an external adviser that manages our day-to-day operations. We have also entered into an administration agreement, or the Administration Agreement with the Administrator, which provides the administrative services necessary for us to operate.

Funding I, our wholly-owned subsidiary and a special purpose entity, was organized in Delaware as a limited liability company in May 2011. We formed Funding I in order to establish the Credit Facility. The Investment Adviser serves as the collateral manager to Funding I and has irrevocably directed that the management fee owed with respect to such services is to be paid to us so long as the Investment Adviser remains the collateral manager. This arrangement does not increase our consolidated management fee. The Credit Facility allows Funding I to borrow up to $386 million at SOFR (or an alternative risk-free floating interest rate index) plus 236 basis points during the revolving period. The Credit Facility is secured by all of the assets held by Funding I. See Note 11.

We have formed and expect to continue to form certain taxable subsidiaries, including the Taxable Subsidiary, which are subject to tax as corporations. These taxable subsidiaries allow us to hold equity securities of certain portfolio companies treated as pass-through entities for U.S. federal income tax purposes while facilitating our ability to qualify as a RIC under the Code.

In November 2017, we issued $138.6 million of our 2023 Notes. The principal on the 2023 Notes will be payable in four annual installments as follows: 15% of the original principal amount on December 15, 2020, 15% of the original principal amount on December 15, 2021, 15% of the original principal amount on December 15, 2022 and 55% on December 15, 2023. The 2023 Notes are general, unsecured obligations and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 2023 Notes are listed on the TASE. In connection with this offering, we have dual listed our common stock on the TASE.

In September 2019, the Securitization Issuers completed the Debt Securitization. The 2031 Asset-Backed Debt is secured by a diversified portfolio of the Securitization Issuer consisting primarily of middle market loans and participation interests in middle market loans. The 2031 Asset-Backed Debt is scheduled to mature on October 15, 2031. On the closing date of the Debt Securitization, in consideration of our transfer to the Securitization Issuer of the initial closing date loan portfolio, which included loans distributed to us by certain of our wholly-owned subsidiaries, the Securitization Issuer transferred to us 100% of the Preferred Shares of the Securitization Issuer, 100% of the Class D Secured Deferrable Floating Rate Notes issued by the Securitization Issuer, and a portion of the net cash proceeds received from the sale of the 2031 Asset-Backed Debt. See Note 11.

In March 2021 and October 2021, we issued $100.0 million and $85.0 million, respectively, in aggregate principal amount of our 2026 Notes at a public offering price per note of 99.4% and 101.5% respectively. Interest on the 2026 Notes is paid semi-annually on April 1 and October 1 of each year, at a rate of 4.25% per year, commencing October 1, 2021. The 2026 Notes mature on April 1, 2026 and may be redeemed in whole or in part at our option subject to a make-whole premium if redeemed more than three months prior to maturity. The 2026 Notes are general, unsecured obligations and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 2026 Notes are effectively subordinated to our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries, financing vehicles, or similar facilities. We do not intend to list the 2026 Notes on any securities exchange or automated dealer quotation system.

In April 2021, we formed PennantPark-TSO Senior Loan Fund LP, ("PTSF") , an unconsolidated limited partnership, organized as a Delaware limited liability partnership. We sold $81.4 million in investments to a wholly-owned subsidiary of PTSF in exchange for cash in the amount of $69.5 million and an $11.9 million equity interest in PTSF representing 23.08% of the total outstanding Class A Units of PTSF. We recognized $0.4 million of realized gain upon the formation of PTSF. As of September 30, 2021, our capital commitment of $15.3 million is fully funded and we hold 23.08% of the total outstanding Class A Units of PTSF and a 4.99% voting interest in the general partner which manages PTSF.

On August 20, 2021, we entered into equity distribution agreements with each of JMP Securities LLC and Raymond James & Associates, Inc., as the sales agents, in connection with the sale of shares of our common stock, with an aggregate offering price of up to $75 million under an at-the-market offering (“ATM Program”). The equity distribution agreements provide that we may offer and sell shares of our common stock from time to time through a sales agent in amounts and at times to be determined by us. On May 5, 2022, we amended the dquity distribution agreements to update references from NASDAQ to NYSE and reflect that the agents are now represented by Kirkland & Ellis LLP. On March 27, 2023 we terminated the equity distribution agreements and entered into new equity distribution agreements with JMP Securities LLC, Raymond James & Associates, Inc. and Truist Securities, Inc. (together, the "Equity Distribution Agreements"), as sales agents (each, as "Sales Agent," and together, the "Sales Agents") in connection with the sale of shares of our common stock, with an aggregate offering price of up to $100 million under an ATM Program. On August 11, 2023 we amended the Equity Distribution Agreements with each of the Sales Agents (together, the “Amended and Restated Equity Distribution Agreements”) to increase the aggregate offering price to up to $250 million. The Amended and Restated Equity Distribution Agreements provide that we may offer and sell shares of our common stock from time to time through a Sales Agent in amounts and at times to be determined by us. Actual sales will depend on a variety of factors to be determined by us from time to time, including, market conditions and the trading price of our common stock. The Investment Adviser may, from time to time, in its sole discretion, pay some or all of the commissions payable under the Equity Distribution Agreements or make additional supplemental payments to ensure that the sales price per share of our common

stock in connection with all of the offerings made hereunder will not be less than our current NAV per share. Any such payments made by the Investment Adviser will not be subject to reimbursement by us.

During the years ended September 30, 2023, and 2022 we issued 9,089,064 and 2,464,910 shares of our Common Stock, respectively, under the ATM Program at a weighted-average price of $11.03 and $13.12 per share, respectively, raising $100.2 million and $31.9 million of net proceeds after commissions to the sales agents and inclusive of proceeds from the Investment Adviser to ensure that all shares were sold at or above NAV. We incurred $0.5 million and $0.1 million, respectively, of legal and other offering costs associated with establishing the ATM Program. As of September 30, 2023, and 2022, we had $154.1 million and $41.3 million available under the ATM Program.

Since inception of the ATM Program through September 30, 2023, we issued 11,662,628 shares of our Common Stock under the ATM Program at a weighted-average price of $11.44, raising $133.5 million of net proceeds after commissions to the sales agents and inclusive of proceeds from the Investment Adviser to ensure that all shares were sold at or above NAV. We incurred $1.0 million of legal and other offering costs associated with establishing the ATM Program.

We are operated by a person who has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act of 1936, as amended, or the Commodity Exchange Act, and, therefore, is not subject to registration or regulation as a commodity pool operator under the Commodity Exchange Act.

Taxes and Distributions (Tables)

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Summary of Amounts Reclassified for Tax Purposes

The following amounts were reclassified for tax purposes (in thousands):


	Years Ended September 30,
	2023			2022			2021
Decrease in paid-in capital	$	(531	)	$	(492	)	$	(369	)
Decrease in accumulated net realized loss		(1,645	)		1,118			(292	)
Increase in undistributed net investment income		2,176			(625	)		661

Summary of Reconciles Net Increase in Net Assets Resulting From Operations to Taxable Income

The following reconciles net increase in net assets resulting from operations to taxable income:


	Years Ended September 30,
	2023			2022			2021
Net increase in net assets resulting from operations	$	39,261		$	3,453		$	56,516
Net realized loss on investments		16,155			11,106			12,796
Net change in unrealized depreciation (appreciation) on investments and debt		12,075			34,023			(29,686	)
Other book-to-tax differences		(5,081	)		(549	)		3,153
Other non-deductible expenses		1,924			993			846
Taxable income before dividends paid deduction	$	64,334		$	49,026		$	43,625

Summary of Components of Undistributed Taxable Income on Tax Basis and Reconciliation to Accumulated Deficit on Book Basis

The components of undistributed taxable income on a tax basis and reconciliation to accumulated surplus on a book basis are as follows (in thousands):


	As of September 30,
	2023			2022			2021
Undistributed ordinary income – tax basis	$	17,158		$	11,141		$	8,415
Short-term realized loss carried forward		(16,544	)		(24,655	)		(6,452	)
Long-term realized loss carried forward		(78,796	)		(65,977	)		(59,136	)
Distributions payable and other book to tax differences		(5,959	)		3,933			(9,669	)
Net unrealized appreciation (depreciation) of investments and debt		(27,499	)		(15,423	)		18,600
Total accumulated deficit – book basis	$	(111,641	)	$	(90,981	)	$	(48,242	)

Summary of Tax Characteristics of Distributions Declared

The tax characteristics of distributions declared are as follows (in thousands):


	Years Ended September 30,
	2023		2022		2021
Ordinary income (including short-term gains, if any)	$	60,451	$	46,685	$	44,207
Long-term capital gain		—		—		—
Total distributions	$	60,451	$	46,685	$	44,207
Total distributions per share based on weighted average shares	$	1.19	$	1.14	$	1.14

Investments - Consolidated Statements of Assets and Liabilities for PSSL (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Investments at cost	$ 1,092,878	$ 1,177,357
Cash and cash equivalents, cost	100,555	51,525
Asset backed debt payable, par	228,000	228,000
PennantPark Senior Secured Loan Fund I LLC
Investments at cost	804,608	770,280
Cash and cash equivalents, cost	77,446	30,152
Asset backed debt payable, par	246,000	246,000
2035 Asset-backed debt, net	246,000	246,000
Unfunded commitments to fund investments	$ 2,500	$ 600

- Definition

Cost of the investment.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480493/946-210-55-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 5)(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-19

+ Details

Change in Net Assets from Operations Per Common Share

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Change in Net Assets from Operations Per Common Share

7. CHANGE IN NET ASSETS FROM OPERATIONS PER COMMON SHARE

The following information sets forth the computation of basic and diluted per share net increase (decrease) in net assets resulting from operations:


	Years Ended September 30,
	2023		2022		2021
Numerator for net increase in net assets resulting from operations	$	39,261	$	3,453	$	56,516
Denominator for basic and diluted weighted average shares		50,832,980		41,060,541		38,766,831
Basic and diluted net increase in net assets per share resulting from operations	$	0.77	$	0.08	$	1.46

Financial Highlights (Tables)

12 Months Ended

Sep. 30, 2023

Investment Company, Financial Highlights [Abstract]

Summary of Financial Highlights

Below are the financial highlights for the years ended September 30 ($ in thousands, except share and per share data):


	2023			2022			2021			2020			2019
Per Share Data:
Net asset value, beginning of year	$	11.62		$	12.62		$	12.31		$	12.97		$	13.82
Net investment income (1)		1.33			1.18			1.02			1.12			1.17
Net change in realized and unrealized (loss) gain (1)		(0.56	)		(1.10	)		0.44			(0.65	)		(0.88	)
Net increase in net assets resulting from operations (1)		0.77			0.08			1.46			0.47			0.29
Distributions to stockholders (1), (2)
Distribution of net investment income		(1.19	)		(1.14	)		(1.14	)		(1.14	)		(1.14	)
Distribution of realized gains		—			—			—			—			—
Total distributions to stockholders		(1.19	)		(1.14	)		(1.14	)		(1.14	)		(1.14	)
(Dilutive) effect of common stock issuance		(0.08	)		0.06			—			—			—
Net asset value, end of year	$	11.13		$	11.62		$	12.62		$	12.31		$	12.97
Per share market value, end of year	$	10.66		$	9.60		$	12.79		$	8.44		$	11.60
Total return (3)		23.84	%		(17.76	)%		66.47	%		(17.15	)%		(3.20	)%
Shares outstanding at end of year		58,734,702			45,345,638			38,880,728			38,772,074			38,772,074
Ratios / Supplemental Data:
Ratio of operating expenses to average net assets (4)		5.90	%		5.34	%		3.77	%		5.19	%		3.94	%
Ratio of debt related expenses to average net assets (5)		6.68	%		5.85	%		5.00	%		5.63	%		5.21	%
Ratio of total expenses to average net assets (5)		12.58	%		11.19	%		8.77	%		10.82	%		9.15	%
Ratio of net investment income to average net assets (5)		11.82	%		9.55	%		8.07	%		9.00	%		8.76	%
Net assets at end of year	$	653,605		$	527,092		$	490,611		$	477,270		$	503,057
Weighted average debt outstanding	$	615,068		$	698,765		$	622,739		$	737,209		$	512,135
Weighted average debt per share (1)	$	12.10		$	17.06		$	16.06		$	19.01		$	13.21
Asset coverage per unit (6)	$	2,304		$	1,784		$	1,746		$	1,677		$	1,786
Portfolio turnover ratio		28.64	%		45.03	%		62.58	%		35.08	%		52.64	%

*The expense and investment income ratios do not reflect the Company's proportionate share of income and expenses of PSSL and PTSF

(1)

Based on the weighted average shares outstanding for the respective periods.

(2)

The tax status of distributions is calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP, and reported on Form 1099-DIV each calendar year.

(3)

Based on the change in market price per share during the periods and assumes distributions, if any, are reinvested.

(4)

Excludes debt related costs.

(5)

Includes interest and expenses on debt (annualized) as well as Credit Facility amendment and debt issuance costs, if any (not annualized).

(6)

The asset coverage ratio for a class of senior securities representing indebtedness is calculated on our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by the senior securities representing indebtedness at par (changed from fair value). This asset coverage ratio is multiplied by $1,000 to determine the asset coverage per unit.

Fair value of Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Unobservable Inputs and Ranges

Our Level 3 valuation techniques, unobservable inputs and ranges were categorized as follows for ASC 820 purposes ($ in thousands):


Asset Category	Fair value at September 30, 2023		Valuation Technique	Unobservable Input	Range of Input (Weighted Average) (1)
First lien	$	25,521	Market Comparable	Broker/Dealer bids or quotes	N/A
First lien		875,133	Market Comparable	Market Yield	10.0% - 25.0% (12.6%)
First lien		5,512	Enterprise Market Value	EBITDA multiple	2.8x - 7.5x (7.4x)
Second lien		149	Market Comparable	Market Yield	14.8%
Second lien		—	Enterprise Market Value	EBITDA multiple	6.0x
Equity		100,489	Enterprise Market Value	EBITDA multiple	3.4x - 17.7x (12.1x)
Equity		144	Enterprise Market Value	DLOM	27.9%
Total Level 3 investments	$	1,006,948
Long-Term Credit Facility and 2023 Notes	$	85,619	Market Comparable	Market Yield	2.3%


Asset Category	Fair value at September 30, 2022		Valuation Technique	Unobservable Input	Range of Input (Weighted Average) (1)
First lien	$	70,363	Market Comparable	Broker/Dealer bids or quotes	N/A
First lien		930,806	Market Comparable	Market Yield	8.2% – 21.0% (10.9%)
First lien		8,473	Enterprise Market Value	EBITDA multiple	14.0
Second lien		147	Market Comparable	Market Yield	14.7%
Second lien		—	Enterprise Market Value	EBITDA multiple	6.0x
Equity		89,906	Enterprise Market Value	EBITDA multiple	3.3x – 21.4x (12.5x)
Equity		5,232	Enterprise Market Value	DLOM	11.8%
Total Level 3 investments	$	1,104,927
Long-Term Credit Facility	$	167,563	Market Comparable	Market Yield	2.5%

The weighted averages disclosed in the table above were weighted by their relative fair value.

Summary of Investments, Cash and Cash Equivalents, Credit Facility, or Prior Credit Facility, Notes and Asset Backed Debt


	Fair Value at September 30, 2023
Description	Fair Value		Level 1		Level 2		Level 3		Measured at Net Asset Value (1)
First lien	$	906,166	$	—	$	—	$	906,166	$	—
Second lien		149		—		—		149		—
Equity		160,859		—		—		100,633		60,226
Total investments		1,067,174		—		—		1,006,948		60,226
Cash and cash equivalents		100,555		100,555		—		—		—
Total investments and cash and cash equivalents	$	1,167,729	$	100,555	$	—	$	1,006,948	$	60,226
Credit Facility payable	$	9,400	$	—	$	—	$	9,400	$	—
2023 Notes payable		76,219		—		—		76,219		—
2026 Notes payable (2)		183,054		—		183,054		—		—
2031 Asset-Backed Debt(2)		226,759		—		—		226,759		—
Total debt	$	495,432	$	—	$	183,054	$	312,378	$	—

(1)

(2)


	Fair Value at September 30, 2022
Description	Fair Value		Level 1		Level 2		Level 3		Measured at Net Asset Value (1)
First lien	$	1,009,642	$	—	$	—	$	1,009,642	$	—
Second lien		147		—		—		147		—
Equity		154,465		—		—		95,138		59,327
Total investments		1,164,254		—		—		1,104,927		59,327
Cash and cash equivalents		51,488		51,488		—		—		—
Total investments and cash and cash equivalents	$	1,215,742	$	51,488	$	—	$	1,104,927	$	59,327
Credit Facility payable	$	167,563	$	—	$	—	$	167,563	$	—
2023 Notes payable		96,812		96,812		—		—		—
2026 Notes payable (2)		182,276		—		182,276		—		—
2031 Asset-Backed Debt(2)		226,128		—		—		226,128		—
Total debt	$	672,779	$	96,812	$	182,276	$	393,691	$	—

(1)

Reconciliation of Investments Measured at Fair Value Using Significant Unobservable Inputs Level 3

The tables below show a reconciliation of the beginning and ending balances for fair valued investments measured using significant unobservable inputs (Level 3) ($ in thousands):


	Year Ended September 30, 2023
Description	First Lien			Second lien, subordinated debt and equity investments			Totals
Beginning Balance	$	1,009,642		$	95,285		$	1,104,927
Net realized losses		(18,585	)		2,148			(16,437	)
Net change in unrealized depreciation		7,008			(11,977	)		(4,969	)
Purchases, PIK interest, net discount accretion and non-cash exchanges		302,095			20,417			322,512
Sales, repayments and non-cash exchanges		(393,994	)		(5,091	)		(399,085	)
Transfers in and/or out of Level 3		—			—			—
Ending Balance	$	906,166		$	100,782		$	1,006,948
Net change in unrealized depreciation reported within the net change in unrealized depreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	$	(9,771	)	$	(8,913	)	$	(18,684	)


	Year Ended September 30, 2022
Description	First Lien			Second lien, subordinated debt and equity investments			Totals
Beginning Balance	$	934,419		$	86,770		$	1,021,189
Net realized losses		894			(12,358	)		(11,464	)
Net change in unrealized depreciation		(17,661	)		11,655			(6,006	)
Purchases, PIK interest, net discount accretion and non-cash exchanges		593,144			27,048			620,192
Sales, repayments and non-cash exchanges		(501,154	)		(17,830	)		(518,984	)
Transfers in and/or out of Level 3		—			—			—
Ending Balance	$	1,009,642		$	95,285		$	1,104,927
Net change in unrealized appreciation reported within the net change in unrealized appreciation on investments in our Consolidated Statements of Operations attributable to our Level 3 assets still held at the reporting date.	$	(15,247	)	$	11,584		$	(3,663	)

Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs Level 3

The table below shows a reconciliation of the beginning and ending balances for liabilities recognized at fair value and measured using significant unobservable inputs (Level 3) ($ in thousands):


	Years Ended September 30,
Long-Term Credit Facility and 2023 Notes	2023			2022
Beginning Balance (cost – $168,830 and $219,400, respectively)	$	167,563		$	218,851
Net change in unrealized (depreciation) appreciation included in earnings		2,090			(1,542	)
Borrowings		65,000			147,254
Repayments		(224,709	)		(197,000	)
Net realized (gain) loss		(544	)		—
Transfers in and/or out of Level 3		76,219			—
Ending Balance (cost – $85,619 and $168,830, respectively)	$	85,619		$	167,563

Net Change in Fair Value on Foreign Currency Translation on Outstanding Borrowings


Foreign Currency	Amount Borrowed		Borrowing Cost		Current Value		Reset Date	Change in Fair Value
Australian Dollar	$	10,000	$	7,254	$	6,430	10/1/22		(824	)

Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Sep. 30, 2023 USD ($) Portfolio	Sep. 30, 2022 USD ($) Portfolio	Sep. 30, 2021 USD ($)
Significant Accounting Policies [Line Items]
Provision for taxes	$ 1,000,000	$ 400,000	$ 400,000
Increase (Decrease) in due to affiliates	(3,042,000)	3,383,000	225,000
Deferred tax liability	1,800,000	4,600,000
Unrealized Gain (Loss), Investment and Derivative, Operating, Tax Expense (Benefit)	2,800,000	4,600,000
Provision for taxes on net realized gain on investments	300,000	0
Prepaid tax asset	1,200,000
Tax accruals relating to uncertain tax positions	0	0	0
Amounts accrued for interest or penalties	$ 0	$ 0	$ 0
Past Due 30 Days or More
Significant Accounting Policies [Line Items]
Financing receivable, nonaccrual, percent past due on cost basis	0.90%	0.90%
Financing receivable, nonaccrual, percent past due on fair value basis	0.20%	0.00%
Number of portfolio on nonaccrual \| Portfolio	3	2

Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Investments at cost	$ 1,092,878	$ 1,177,357
Cash and cash equivalents, cost	100,555	51,525
Credit Facility payable, cost	9,400	168,830
Asset backed debt payable, par	$ 228,000	$ 228,000
Common stock, shares, issued	58,734,702	45,345,638
Common stock, shares, outstanding	58,734,702	45,345,638
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
2023 Notes Payable
Notes payable, par	$ 76,219	$ 97,006
2026 Notes Payable
Notes payable, par	185,000	185,000
Non-controlled, Non-affiliated Investments
Investments at cost	768,240	882,570
Controlled, Affiliated Investments
Investments at cost	$ 324,639	$ 294,787

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Investment Valuations	(a) Investment Valuations We expect that there may not be readily available market values for many of the investments, which are or will be in our portfolio, and we value such investments at fair value as determined in good faith by or under the direction of our board of directors using a documented valuation policy and a consistently applied valuation process, as described in this Report. With respect to investments for which there is no readily available market value, the factors that the board of directors may take into account in pricing our investments at fair value include, as relevant, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business, comparison to publicly traded securities and other relevant factors. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, we consider the pricing indicated by the external event to corroborate or revise our valuation. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the price used in an actual transaction may be different than our valuation and the difference may be material. See Note 5. Our portfolio generally consists of illiquid securities, including debt and equity investments. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, our board of directors undertakes a multi-step valuation process each quarter, as described below: (1) Our quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of our Investment Adviser responsible for the portfolio investment; (2) Preliminary valuation conclusions are then documented and discussed with the management of the Investment Adviser; (3) Our board of directors also engages independent valuation firms to conduct independent appraisals of our investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of the investment. The independent valuation firms review management's preliminary valuations in light of their own independent assessment and also in light of any market quotations obtained from an independent pricing service, broker, dealer or market maker; (4) The audit committee of our board of directors reviews the preliminary valuations of our Investment Adviser and those of the independent valuation firms on a quarterly basis, periodically assesses the valuation methodologies of the independent valuation firms, and responds to and supplements the valuation recommendations of the independent valuation firms to reflect any comments; and (5) Our board of directors discusses these valuations and determines the fair value of each investment in our portfolio in good faith, based on the input of our Investment Adviser, the respective independent valuation firms and the audit committee. Our board of directors generally uses market quotations to assess the value of our investments for which market quotations are readily available. We obtain these market values from independent pricing services or at bid prices obtained from at least two brokers or dealers, if available, or otherwise from a principal market maker or a primary market dealer. The Investment Adviser assesses the source and reliability of bids from brokers or dealers. If the board of directors has a bona fide reason to believe any such market quote does not reflect the fair value of an investment, it may independently value such investments by using the valuation procedure that it uses with respect to assets for which market quotations are not readily available.
Security Transactions, Revenue Recognition and Realized/Unrealized Gains or Losses	(b) Security Transactions, Revenue Recognition, and Realized/Unrealized Gains or Losses Security transactions are recorded on a trade-date basis. We measure realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, using the specific identification method, without regard to unrealized appreciation or depreciation previously recognized, but considering prepayment penalties. Net change in unrealized appreciation or depreciation reflects the change in the fair values of our portfolio investments, the Credit Facility, and the 2023 Notes during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized. We record interest income on an accrual basis to the extent that we expect to collect such amounts. For loans and debt investments with contractual PIK interest, which represents interest accrued and added to the loan balance that generally becomes due at maturity, we will generally not accrue PIK interest when the portfolio company valuation indicates that such PIK interest is not collectable. We do not accrue as a receivable interest on loans and debt investments if we have reason to doubt our ability to collect such interest. Loan origination fees, original issue discount, or OID, market discount or premium and deferred financing costs on liabilities, which we do not fair value, are capitalized and then accreted or amortized using the effective interest method as interest income or, in the case of deferred financing costs, as interest expense. We record prepayment penalties earned on loans and debt investments as income. Dividend income, if any, is recognized on an accrual basis on the ex-dividend date to the extent that we expect to collect such amounts. From time to time, the Company receives certain fees from portfolio companies, which are non-recurring in nature. Such fees include loan prepayment penalties, structuring fees and amendment fees, and are recorded as other investment income when earned. Litigation settlements are accounted for in accordance with the gain contingency provisions of ASC Subtopic 450-30, Gain Contingencies, or ASC 450-30. Loans are placed on non-accrual status when principal or interest payments are past due 30 days or more and/or if there is reasonable doubt that principal or interest will be collected. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans are restored to accrual status when past due principal and interest is paid and, in management’s judgment, are likely to remain current. As of September 30, 2023, we had three portfolio companies on non-accrual, representing 0.9% and 0.2% of our overall portfolio on a cost and fair value basis, respectively. As of September 30, 2022, we had two portfolio companies on non-accrual, representing 0.9% and zero percent of our overall portfolio on a cost and fair value basis, respectively.
Income Taxes	(c) Income Taxes We have complied with the requirements of Subchapter M of the Code and have qualified to be treated as a RIC for federal income tax purposes. In this regard, we account for income taxes using the asset and liability method prescribed by ASC Topic 740, Income Taxes, or ASC 740. Under this method, income taxes are provided for amounts currently payable and for amounts deferred as tax assets and liabilities based on differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Based upon our qualification and election to be treated as a RIC for U.S federal income tax purposes, we typically do not incur any material federal income taxes. However, we may choose to retain a portion of our calendar year income, which may result in the imposition of a federal tax, or we may incur taxes through our taxable subsidiaries, including the Taxable Subsidiary. For the years ended September 30, 2023, 2022 ,and 2021, we recorded a provision for taxes on net investment income of $1.0 million, $0.4 million and $0.4 million, respectively, pertaining to federal excise tax. We recognize the effect of a tax position in our Consolidated Financial Statements in accordance with ASC 740 when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by the applicable tax authority. Tax positions not considered to satisfy the “more-likely-than-not” threshold would be recorded as a tax expense or benefit. Penalties or interest, if applicable, that may be assessed relating to income taxes would be classified as other operating expenses in the financial statements. There were no tax accruals relating to uncertain tax positions and no amounts accrued for any related interest or penalties with respect to the periods presented herein. The Company’s determinations regarding ASC 740 may be subject to review and adjustment at a later date based upon factors including, but not limited to, an ongoing analysis of tax laws, regulations and interpretations thereof. Although the Company files both federal and state income tax returns, the Company’s major tax jurisdiction is federal. The Taxable Subsidiary is subject to U.S. federal, state and local corporate income taxes. The income tax expense and related tax liabilities of the Taxable Subsidiary are reflected in the Company’s consolidated financial statements. For the year ended September 30, 2023, the Company recognized a provision for taxes of $(2.8) million on unrealized appreciation on investments by the Taxable Subsidiary. For the year ended September 30, 2022, the Company recognized a provision for taxes of $4.6 million on unrealized appreciation on investments by the Taxable Subsidiary. The provision for taxes on unrealized appreciation on investments is the result of netting (i) the expected tax liability on gains from sales of investments and (ii) the expected tax benefit from the use of losses in the current year. As of September 30, 2023 and 2022, $1.8 million and $4.6 million, respectively, was accrued as a deferred tax liability on the Consolidated Statements of Assets and Liabilities relating to unrealized gain on investments held by the Taxable Subsidiary. As of September 30, 2023 and 2022, $0.3 million and zero, respectively, the Company recognized a provision for taxes on realized gain on investments held by the Taxable Subsidiary. During the year ended September 30, 2023, the Company paid zero in taxes on realized gains on the sale of investments held by the Taxable Subsidiary which were offset by subsequent realized losses, resulting in a $1.2 million prepaid tax asset as of September 30, 2023 included under prepaid expenses and other assets in the Consolidated Statements of Assets and Liabilities. Because U.S. federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and net realized gains recognized for financial reporting purposes. Differences between tax regulations and GAAP may be permanent or temporary. Permanent differences are reclassified among capital accounts in the consolidated financial statements of assets and liabilities to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future.
Distributions and Capital Transactions	(d) Distributions and Capital Transactions Distributions to common stockholders are recorded on the ex-dividend date. The amount to be paid, if any, as a distribution is determined by the board of directors each quarter and is generally based upon the earnings estimated by management. Net realized capital gains, if any, may be distributed at least annually. The tax attributes for distributions will generally include ordinary income and capital gains, but may also include certain tax-qualified dividends and/or a return of capital. Capital transactions through offerings of our common stock, are recorded when issued and offering costs are charged as a reduction of capital upon issuance of our common stock.
Foreign Currency Transactions	(e) Foreign Currency Translation Our books and records are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis: 1. Fair value of investment securities, other assets and liabilities – at the exchange rates prevailing at the end of the applicable period; and 2. Purchases and sales of investment securities, income and expenses – at the exchange rates prevailing on the respective dates of such transactions. Although net assets and fair values are presented based on the applicable foreign exchange rates described above, we do not isolate that portion of the results of operations due to changes in foreign exchange rates on investments, other assets and debt from the fluctuations arising from changes in fair value of investments and liabilities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments and liabilities. Foreign security and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices to be more volatile than those of comparable U.S. companies or U.S. government securities.
Consolidation	(f) Consolidation As permitted under Regulation S-X and as explained by ASC paragraph 946-810-45-3, PennantPark Floating Rate Capital Ltd. will generally not consolidate its investment in a company other than an investment company wholly-owned subsidiary or a controlled operating company whose business consists of providing services to us. Accordingly, we have consolidated the results of our taxable subsidiaries, including the Taxable Subsidiary, Funding I and the Securitization Issuer in our Consolidated Financial Statements. We do not consolidate our non-controlling interest in PSSL or PTSF. See further description of our investment in PSSL in Note 4.
Asset Transfers and Servicing	(g) Asset Transfers and Servicing Asset transfers that do not meet ASC Topic 860, Transfers and Servicing, requirements for sale accounting treatment are reflected in the Consolidated Statements of Assets and Liabilities and the Consolidated Schedules of Investments as investments. The creditors of Funding I have received a security interest in all its assets and such assets are not intended to be available to the creditors of PennantPark Floating Rate Capital Ltd. or any of its affiliates.
Recent Accounting Pronouncements	(h) Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The guidance provides optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. FASB approved an (optional) two year extension to December 31, 2024, for transitioning away from LIBOR. The Company utilized the optional expedients and exceptions provided by ASU 2020-04 during the year ended September 30, 2023, the effect of which was not material to the consolidated financial statements and the notes thereto. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables - Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The Company has adopted the new accounting standard implementing appropriate controls and procedures, the effect of which was not material to the consolidated financial statements and the notes thereto. In June 2022, the FASB issued Accounting Standards Update No. 2022-03, or ASU, 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, or ASU 2022-03, which changed the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurements and Disclosures, or ASC 820. The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods therein. Early application is permitted. The Company is currently evaluating the impact the adoption of this new accounting standard will have on its consolidated financial statements, but the impact of the adoption is not expected to be material.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

- Definition

Disclosure of accounting policy for transfers and servicing financial assets, including securitization transactions as well as repurchase and resale agreements. This disclosure may include how the entity (1) determines whether a transaction is accounted for as a sale; (2) accounts for a sale transaction, including the initial and subsequent accounting for any interests that the entity obtains or continues to hold in the transaction, how such interests are valued, and the significant assumptions used in the valuation; (3) accounts for a transaction that does not qualify for sale treatment (that is, a financing); and (4) accounts for its servicing assets and liabilities ("servicing"), including how such servicing is measured initially and subsequently, and the methodology and significant assumptions used to value such servicing.

+ References + Details

Investments - Additional Information (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2023 USD ($)	Apr. 30, 2023 USD ($)	Sep. 30, 2023 USD ($) Portfolio	Sep. 30, 2022 USD ($) Portfolio	Sep. 30, 2021 USD ($)	Jul. 31, 2023 USD ($)	Jan. 31, 2021 USD ($)
Schedule Of Investments [Line Items]
Purchases of investments, including PIK interest			$ 325,800	$ 609,200	$ 664,100
Sales and repayments of investments			399,100	495,200	$ 702,100
Total assets			$ 1,179,611	1,227,474
Number of members appointed			four
Quorum description			Quorum is defined as (i) the presence of two members of the board of directors or investment committee, provided that at least one individual is present that was elected, designated or appointed by each member; (ii) the presence of three members of the board of directors or investment committee, provided that the individual that was elected, designated or appointed by the member with only one individual present shall be entitled to cast two votes on each matter; and (iii) the presence of four members of the board of directors or investment committee shall constitute a quorum, provided that two individuals are present that were elected, designated or appointed by each member.
Credit Facility payable, at fair value (cost-$9,400 and $168,830, respectively) (See Notes 5 and 11)			$ 9,400	167,563
Credit facility interest rate description	260
Debt securitization		$ 297,800					$ 300,700
Asset backed debt, transfer of assets, description			On the closing date of the transaction, in consideration of PSSL’s transfer to PennantPark CLO II, Ltd. of the initial closing date loan portfolio, which included loans distributed to PSSL by certain of its wholly owned subsidiaries and us, PennantPark CLO II, Ltd. transferred to PSSL 100% of the Preferred Shares of PennantPark CLO II, Ltd. and 100% of the Class E Notes issued by PennantPark CLO II, Ltd.
Senior Secured Revolving Credit Facility
Schedule Of Investments [Line Items]
Credit Facility payable, at fair value (cost-$9,400 and $168,830, respectively) (See Notes 5 and 11)	$ 260,000					$ 325,000
PennantPark Senior Secured Loan Fund I LLC
Schedule Of Investments [Line Items]
Total assets			$ 869,410	$ 796,811
Number of Portfolio Companies Consisted of Debt Investments \| Portfolio			105	95
Percentage of capital ownership in each of outstanding subordinated notes and equity interests			87.50%	12.50%
Credit Facility payable, at fair value (cost-$9,400 and $168,830, respectively) (See Notes 5 and 11)			$ 48,600	$ 259,500
Asset backed debt, transfer of assets, description		On the closing date of the transaction, in consideration of PSSL’s transfer to PennantPark CLO VI, LLC of the initial closing date loan portfolio, which included loans distributed to PSSL by certain of its wholly owned subsidiaries and us, PennantPark CLO VI, LLC transferred to PSSL 100% of the Preferred Shares of CLO VI, LLC
PennantPark Senior Secured Loan Fund I LLC \| Investment In Single Portfolio Company
Schedule Of Investments [Line Items]
Fair value of largest investment in a single portfolio company			19,300
PennantPark Senior Secured Loan Fund I LLC \| Five Largest Investments
Schedule Of Investments [Line Items]
Fair value of investment in five largest portfolio company			86,900
PennantPark Senior Secured Loan Fund I LLC \| First Lien Secured Debt
Schedule Of Investments [Line Items]
Total investments			210,100	190,200
Additional unfunded investment			27,600	19,900
PennantPark Senior Secured Loan Fund I LLC \| Equity Interests
Schedule Of Investments [Line Items]
Total investments			90,000	81,500
Additional unfunded investment in equity			$ 11,800	$ 8,500

Financial Highlights

12 Months Ended

Sep. 30, 2023

Investment Company, Financial Highlights [Abstract]

Financial Highlights

10. FINANCIAL HIGHLIGHTS

Below are the financial highlights for the years ended September 30 ($ in thousands, except share and per share data):


	2023			2022			2021			2020			2019
Per Share Data:
Net asset value, beginning of year	$	11.62		$	12.62		$	12.31		$	12.97		$	13.82
Net investment income (1)		1.33			1.18			1.02			1.12			1.17
Net change in realized and unrealized (loss) gain (1)		(0.56	)		(1.10	)		0.44			(0.65	)		(0.88	)
Net increase in net assets resulting from operations (1)		0.77			0.08			1.46			0.47			0.29
Distributions to stockholders (1), (2)
Distribution of net investment income		(1.19	)		(1.14	)		(1.14	)		(1.14	)		(1.14	)
Distribution of realized gains		—			—			—			—			—
Total distributions to stockholders		(1.19	)		(1.14	)		(1.14	)		(1.14	)		(1.14	)
(Dilutive) effect of common stock issuance		(0.08	)		0.06			—			—			—
Net asset value, end of year	$	11.13		$	11.62		$	12.62		$	12.31		$	12.97
Per share market value, end of year	$	10.66		$	9.60		$	12.79		$	8.44		$	11.60
Total return (3)		23.84	%		(17.76	)%		66.47	%		(17.15	)%		(3.20	)%
Shares outstanding at end of year		58,734,702			45,345,638			38,880,728			38,772,074			38,772,074
Ratios / Supplemental Data:
Ratio of operating expenses to average net assets (4)		5.90	%		5.34	%		3.77	%		5.19	%		3.94	%
Ratio of debt related expenses to average net assets (5)		6.68	%		5.85	%		5.00	%		5.63	%		5.21	%
Ratio of total expenses to average net assets (5)		12.58	%		11.19	%		8.77	%		10.82	%		9.15	%
Ratio of net investment income to average net assets (5)		11.82	%		9.55	%		8.07	%		9.00	%		8.76	%
Net assets at end of year	$	653,605		$	527,092		$	490,611		$	477,270		$	503,057
Weighted average debt outstanding	$	615,068		$	698,765		$	622,739		$	737,209		$	512,135
Weighted average debt per share (1)	$	12.10		$	17.06		$	16.06		$	19.01		$	13.21
Asset coverage per unit (6)	$	2,304		$	1,784		$	1,746		$	1,677		$	1,786
Portfolio turnover ratio		28.64	%		45.03	%		62.58	%		35.08	%		52.64	%

*The expense and investment income ratios do not reflect the Company's proportionate share of income and expenses of PSSL and PTSF

(1)

Based on the weighted average shares outstanding for the respective periods.

(2)

The tax status of distributions is calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP, and reported on Form 1099-DIV each calendar year.

(3)

Based on the change in market price per share during the periods and assumes distributions, if any, are reinvested.

(4)

Excludes debt related costs.

(5)

Includes interest and expenses on debt (annualized) as well as Credit Facility amendment and debt issuance costs, if any (not annualized).

(6)

Investments - Consolidated Statements of Operations for PSSL (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Expenses:
Interest expense on notes to members	$ 38,166	$ 29,755	$ 21,650
Administration fees	999	575	900
General and administrative expenses	3,422	2,618	1,201
Net investment income	(67,491)	(48,582)	(39,626)
Net change in unrealized appreciation (depreciation) on investments
Net change in unrealized (depreciation) appreciation on investments and debt	(12,075)	(34,023)	29,686
Net realized and unrealized (loss) gain from investments and debt	(28,230)	(45,129)	16,890
Net Income (Loss)	39,261	3,453	$ 56,516
PennantPark Senior Secured Loan Fund I LLC
Investment income:
Interest	89,547	53,006
Other income	1,297	1,188
Total investment income	90,844	54,194
Expenses:
Interest and expenses on credit facility and asset-backed debt	42,797	18,410
Interest expense on notes to members	30,325	17,468
Administration fees	2,103	1,835
General and administrative expenses	1,116	1,156
Total expenses	76,341	38,869
Net investment income	14,503	15,325
Net change in unrealized appreciation (depreciation) on investments
Net realized loss on investments	(6,328)	(14,948)
Net change in unrealized (depreciation) appreciation on investments and debt	(3,171)	(3,695)
Net realized and unrealized (loss) gain from investments and debt	(9,499)	(18,643)
Net Income (Loss)	$ 5,004	$ (3,318)

Investments (Tables)

12 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments and Cash and Cash Equivalents

Investments and cash and cash equivalents consisted of the following (in thousands):


	September 30, 2023				September 30, 2022
Investment Classification	Cost		Fair Value		Cost		Fair Value
First lien	$	708,452	$	696,078	$	838,842	$	819,461
First lien in PSSL		210,088		210,088		190,181		190,181
Second lien		1,113		149		1,113		147
Equity		83,188		109,978		65,715		105,031
Equity interests in PSSL		90,038		50,881		81,506		49,434
Total investments		1,092,878		1,067,174		1,177,357		1,164,254
Cash and cash equivalents		100,555		100,555		51,525		51,488
Total investments and cash and cash equivalents	$	1,193,433	$	1,167,729	$	1,228,882	$	1,215,742

Schedule of Investments by Industry Classification and Enumerates Percentage, by Fair Value, of Total Portfolio Assets Excluding Cash and Cash Equivalents

The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets (excluding cash and cash equivalents) in such industries:


Industry Classification	September 30, 2023 (1)			September 30, 2022 (1)
Media		9	%		7	%
Healthcare Providers and Services		9		3
Personal Products		8		7
Professional Services		7		9
Aerospace and Defense		6		4
Media: Diversified and Production		6		5
High Tech Industries		5		5
Healthcare Technology		4		4
Commercial Services & Supplies		4		5
IT Services		4		6
Diversified Consumer Services		3		4
Electronic Equipment, Instruments, and Components		3		3
Construction and Building		3		3
Insurance		3		2
Distributors		3		2
Chemicals, Plastics and Rubber		2		2
Business Services		2		3
Consumer Services		2		2
Capital Equipment		2		4
Automobiles		2		1
Hotels, Restaurants and Leisure		2		1
Healthcare Equipment and Supplies		1		2
Financial Services		1		1
Construction & Engineering		1		0
Diversified Financial Services		1		2
Leisure Products		1		1
Air Freight and Logistics		1		1
Textiles, Apparel and Luxury Goods		1		1
Energy Equipment and Services		1		1
Internet Software and Services		1		1
Food Products		1		1
Wholesale		1		1
Banking, Finance, Insurance & Real Estate		1		1
Consumer Finance		1		1
All Other	2			4
Total		100	%		100	%

(1)

Excludes investments in PSSL.

Summary of PSSL's Portfolio at Fair Value

Below is a summary of PSSL’s portfolio at fair value ($ in thousands):


($ in thousands)	September 30, 2023			September 30, 2022
Total investments	$	785,859		$	754,722
Weighted average cost yield on income producing investments		12.1	%		9.6	%
Number of portfolio companies in PSSL		105			95
Largest portfolio company investment	$	18,463		$	19,250
Total of five largest portfolio company investments	$	83,365		$	86,872

Summary of Listing of PSSL's Individual Investments

Below is a listing of PSSL’s individual investments as of September 30, 2023 (par and $ in thousands):


Issuer Name	Maturity	Industry	Current Coupon			Basis Point Spread Above Index (1)	Par		Cost		Fair Value (2)
First Lien Secured Debt - 1,347.5%
A1 Garage Merger Sub, LLC	12/22/2028	Commercial Services & Supplies		11.84	%	SOFR+660		2,940	$	2,886	$	2,925
Ad.net Acquisition, LLC	5/7/2026	Media		11.65	%	SOFR+626		8,798		8,723		8,754
Alpine Acquisition Corp II	11/30/2026	Containers and Packaging		11.24	%	SOFR+600		12,852		12,535		12,338
Anteriad, LLC (f/k/a MeritDirect, LLC)	5/23/2024	Media: Advertising, Printing & Publishing		11.04	%	SOFR+550		5,001		4,971		4,913
Anteriad Holdings Inc (fka MeritDirect) March 2023	5/23/2024	Media: Advertising, Printing & Publishing		12.04	%	SOFR+650		4,875		4,817		4,814
Any Hour Services	7/21/2027	Professional Services		11.59	%	SOFR+585		7,510		7,348		7,360
Apex Service Partners, LLC	7/31/2025	Diversified Consumer Services		10.52	%	SOFR+525		1,002		1,002		1,000
Apex Service Partners, LLC Term Loan B	7/31/2025	Diversified Consumer Services		11.04	%	SOFR+550		2,187		2,187		2,181
Apex Service Partners, LLC Term Loan C	7/31/2025	Diversified Consumer Services		10.69	%	SOFR+525		11,013		10,972		10,985
Applied Technical Services, LLC	12/29/2026	Commercial Services & Supplies		11.54	%	SOFR+615		9,579		9,475		9,387
Applied Technical Services, LLC - DDTL Unfunded (3)	12/29/2026	Commercial Services & Supplies						194		-		(2	)
Arcfield Acquisition Corp.	8/3/2029	Aerospace and Defense		11.62	%	SOFR+625		9,218		9,093		9,126
Beta Plus Technologies, Inc.	7/1/2029	Business Services		11.14	%	SOFR+575		4,950		4,863		4,604
BioDerm, Inc.	1/31/2028	Healthcare and Pharmaceuticals		11.83	%	SOFR+650		8,978		8,874		8,933
Blackhawk Industrial Distribution, Inc.	9/17/2026	Distributors		11.79	%	SOFR+640		15,132		14,928		14,905
Broder Bros., Co.	12/4/2025	Consumer Products		11.50	%	SOFR+626		2,349		2,349		2,349
Burgess Point Purchaser Corporation	9/26/2029	Automotive		10.67	%	SOFR+525		447		418		420
By Light Professional IT Services, LLC	5/16/2025	High Tech Industries		12.43	%	SOFR+688		13,821		13,778		13,579
Cadence Aerospace, LLC	11/14/2023	Aerospace and Defense		12.07	%	SOFR+665		4,011		4,010		4,011
			(PIK 2.00%)
Cartessa Aesthetics, LLC	6/14/2028	Distributors		11.39	%	SOFR+600		9,636		9,509		9,636
CF512, Inc.	8/20/2026	Media		11.60	%	SOFR+619		6,820		6,722		6,684
CHA Holdings, Inc.	4/10/2025	Construction and Engineering		10.15	%	SOFR+476		5,499		5,455		5,499
Challenger Performance Optimization, Inc.	8/31/2024	Business Services		12.18	%	SOFR+675		9,232		9,201		8,955
			(PIK 1.00%)
Confluent Health, LLC	10/28/2028	Healthcare and Pharmaceuticals		9.32	%	SOFR+400		6,797		6,559		6,445
Connatix Buyer, Inc.	7/13/2027	Media		11.16	%	SOFR+576		3,815		3,762		3,681
Crane 1 Services, Inc.	8/16/2027	Commercial Services & Supplies		10.90	%	SOFR+551		2,089		2,067		2,079
Dr. Squatch, LLC	8/31/2027	Personal Products		11.24	%	SOFR+585		14,712		14,511		14,712
DRI Holding Inc.	12/21/2028	Media		10.67	%	SOFR+525		2,627		2,418		2,394
DRS Holdings III, Inc.	11/3/2025	Consumer Goods: Durable		11.79	%	SOFR+640		14,429		14,376		14,256
Duraco Specialty Tapes LLC	6/30/2024	Containers and Packaging		11.89	%	SOFR+650		10,904		10,838		10,740
ECL Entertainment, LLC	8/31/2030	Hotel, Gaming and Leisure		10.07	%	SOFR+475		5,000		4,900		4,985
EDS Buyer, LLC	1/10/2029	Electronic Equipment, Instruments, and Components		11.64	%	SOFR+625		8,955		8,833		8,821
Electro Rent Corporation	1/17/2024	Electronic Equipment, Instruments, and Components		11.00	%	SOFR+550		2,219		2,200		2,171
Exigo Intermediate II, LLC	3/15/2027	Software		11.17	%	SOFR+585		12,675		12,505		12,422
ETE Intermediate II, LLC	5/29/2029	Diversified Consumer Services		11.89	%	SOFR+650		12,404		12,154		12,193
Fairbanks Morse Defense	6/17/2028	Aerospace and Defense		10.40	%	SOFR+475		10,195		10,143		10,114
Global Holdings InterCo LLC	3/16/2026	Diversified Financial Services		11.96	%	SOFR+660		3,736		3,724		3,549
Graffiti Buyer, Inc.	8/10/2027	Trading Companies & Distributors		10.99	%	SOFR+575		2,345		2,316		2,322
Hancock Roofing and Construction L.L.C.	12/31/2026	Insurance		10.92	%	SOFR+560		2,250		2,217		2,194
Holdco Sands Intermediate, LLC	11/23/2028	Aerospace and Defense		11.32	%	SOFR+585		4,913		4,838		4,913
HW Holdco, LLC	12/10/2024	Media		11.75	%	SOFR+640		3,014		2,988		2,968
Imagine Acquisitionco, LLC	11/15/2027	Software		10.72	%	SOFR+535		9,248		9,075		9,110
Inception Fertility Ventures, LLC	12/31/2024	Healthcare Providers and Services		12.51	%	SOFR+715		16,453		16,257		16,453
Infinity Home Services Holdco, Inc.	12/28/2028	Commercial Services & Supplies		12.24	%	SOFR+685		6,090		5,979		6,090
Integrated Data Services	8/1/2029	Business Services		11.87	%	SOFR+650		18,904		18,532		18,463
Integrative Nutrition, LLC	1/31/2025	Diversified Consumer Services		12.54	%	SOFR+700		11,105		11,083		10,439
			(PIK 2.25%)
Integrity Marketing Acquisition, LLC	8/27/2026	Insurance		11.57	%	SOFR+575		5,906		5,851		5,847
Inventus Power, Inc.	6/30/2025	Consumer Goods: Durable		12.93	%	SOFR+761		8,246		8,097		8,081
ITI Holdings, Inc.	3/3/2028	IT Services		11.06	%	SOFR+560		3,940		3,886		3,861
K2 Pure Solutions NoCal, L.P.	12/20/2023	Chemicals, Plastics and Rubber		13.42	%	SOFR+810		15,509		15,487		15,509
Kinetic Purchaser, LLC	11/10/2027	Personal Products		11.54	%	SOFR+615		16,662		16,346		16,412
Lash OpCo, LLC	2/18/2027	Personal Products		12.13	%	SOFR+675		14,210		13,989		14,068
LAV Gear Holdings, Inc.	10/31/2024	Capital Equipment		11.74	%	SOFR+643		15,042		14,997		14,862
Lightspeed Buyer Inc.	2/3/2026	Healthcare Providers and Services		10.70	%	SOFR+535		12,056		11,911		11,935
LJ Avalon Holdings, LLC	1/31/2030	Environmental Industries		11.77	%	SOFR+640		2,585		2,537		2,534
Loving Tan Intermediate II, Inc.	5/26/2028	Consumer Products		12.39	%	SOFR+700		7,481		7,337		7,369
Lucky Bucks, LLC (4)	7/20/2027	Hotel, Gaming and Leisure		0.00	%			4,489		4,207		1,182
Lucky Bucks. LLC - OpCo DIP Loans	9/30/2025	Hotel, Gaming and Leisure		15.33	%	SOFR+1000		160		158		160
MAG DS Corp	4/1/2027	Aerospace and Defense		10.99	%	SOFR+550		2,097		2,007		1,986
Magenta Buyer, LLC	7/31/2028	Software		10.63	%	SOFR+500		3,006		2,845		2,228
Marketplace Events, LLC - Super Priority First Lien Term Loan	9/30/2025	Media: Diversified and Production		10.94	%	SOFR+525		647		647		647
Marketplace Events, LLC - Super Priority First Lien Unfunded Term Loan (3)	9/30/2025	Media: Diversified and Production						589		-		-
Marketplace Events, LLC	9/30/2026	Media: Diversified and Production		10.94	%	SOFR+525		4,837		3,782		4,837
Mars Acquisition Holdings Corp.	5/14/2026	Media		11.04	%	SOFR+565		11,588		11,476		11,472
MBS Holdings, Inc.	4/16/2027	Internet Software and Services		11.17	%	SOFR+585		7,859		7,758		7,749
MDI Buyer, Inc.	7/25/2028	Chemicals, Plastics and Rubber		11.32	%	SOFR+600		6,380		6,271		6,244
Meadowlark Acquirer, LLC	12/10/2027	Professional Services		11.04	%	SOFR+565		2,372		2,336		2,312


Issuer Name	Maturity		Industry	Current Coupon			Basis Point Spread Above Index (1)		Par / Shares		Cost		Fair Value (2)
Mission Critical Electronics, Inc.	3/28/2024		Capital Equipment		11.29	%	SOFR+515			5,769	$	5,763	$	5,740
Municipal Emergency Services, Inc.	9/28/2027		Distributors		11.04	%	SOFR+565			3,430		3,380		3,355
NBH Group LLC	8/19/2026		Healthcare, Education & Childcare		10.93	%	SOFR+525			10,711		10,572		10,497
Neptune Flood Incorporated	5/9/2029		Insurance		11.97	%	SOFR+650			5,042		4,970		5,042
New Milani Group LLC	6/6/2024		Consumer Goods: Non-Durable		10.92	%	SOFR+550			14,213		14,194		14,213
One Stop Mailing, LLC	5/7/2027		Air Freight and Logistics		11.68	%	SOFR+636			15,849		15,588		15,849
ORL Acquisitions, Inc.	9/3/2027		Consumer Finance		12.84	%	SOFR+725			2,223		2,202		2,023
Output Services Group, Inc. (4)	6/27/2026		Business Services		0.00	%		—		7,759		7,689		1,513
Owl Acquisition, LLC	2/4/2028		Professional Services		10.80	%	SOFR+575			3,893		3,832		3,834
Ox Two, LLC	5/18/2026		Construction and Building		12.90	%	SOFR+751			4,345		4,306		4,269
Peaquod Merger Sub, Inc.	12/2/2026		Diversified Financial Services		11.79	%	SOFR+640			11,474		11,267		11,244
PH Beauty Holdings III, Inc.	9/29/2025		Wholesale		10.68	%	SOFR+500			9,493		9,282		7,974
PL Acquisitionco, LLC	11/9/2027		Textiles, Apparel and Luxury Goods		12.42	%	SOFR+710			7,565		7,467		6,809
				(PIK 4.00%)
PlayPower, Inc.	5/8/2026		Consumer Goods: Durable		10.57	%	SOFR+565			2,551		2,491		2,436
Pragmatic Institute, LLC	7/6/2028		Education		11.17	%	SOFR+575			11,138		10,999		10,636
Quantic Electronics, LLC	11/19/2026		Aerospace and Defense		11.74	%	SOFR+635			2,803		2,776		2,761
Rancho Health MSO, Inc.	12/18/2025		Healthcare Providers and Services		11.22	%	SOFR+585			1,029		1,029		1,029
Reception Purchaser, LLC	2/28/2028		Air Freight and Logistics		11.54	%	SOFR+600			4,938		4,876		4,740
Recteq, LLC	1/29/2026		Leisure Products		12.54	%	SOFR+700			4,875		4,825		4,729
Research Now Group, LLC and Dynata, LLC	12/20/2024		Diversified Consumer Services		11.13	%	SOFR+576			12,432		12,322		10,878
Rural Sourcing Holdings, Inc. (HPA SPQ Merger Sub, Inc.)	6/15/2029		High Tech Industries		11.52	%	SOFR+625			3,749		3,676		3,692
Sales Benchmark Index LLC	1/3/2025		Professional Services		11.59	%	SOFR+620			9,522		9,474		9,475
Sargent & Greenleaf Inc.	12/20/2024		Wholesale		12.92	%	SOFR+760			5,167		5,148		5,116
				(PIK 1.00%)
Schlesinger Global, Inc.	7/14/2025		Business Services		12.52	%	SOFR+715			11,791		11,777		11,407
				(PIK 0.50%)
Seaway Buyer, LLC	6/13/2029		Chemicals, Plastics and Rubber		11.54	%	SOFR+615			4,950		4,884		4,802
Sigma Defense Systems, LLC	12/18/2025		Aerospace and Defense		14.04	%	SOFR+865			13,787		13,579		13,580
Skopima Consilio Parent, LLC	5/17/2028		Business Services		9.93	%	SOFR+450			1,300		1,274		1,272
Smile Brands Inc.	10/14/2025		Healthcare and Pharmaceuticals		9.70	%	SOFR+450			11,796		11,739		10,598
Solutionreach, Inc.	7/17/2025		Healthcare and Pharmaceuticals		12.37	%	SOFR+700			4,582		4,577		4,563
Spendmend Holdings LLC	3/1/2028		Healthcare Technology		11.04	%	SOFR+565			4,112		4,047		4,022
STV Group Incorporated	12/11/2026		Construction and Building		10.67	%	SOFR+535			9,075		9,025		8,894
Summit Behavioral Healthcare, LLC	11/24/2028		Healthcare and Pharmaceuticals		10.43	%	SOFR+475			1,786		1,696		1,779
System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC)	8/16/2027		Aerospace and Defense		11.49	%	SOFR+600			14,738		14,540		14,575
Team Services Group, LLC	11/24/2028		Healthcare and Pharmaceuticals		10.75	%	SOFR+500			346		333		339
Teneo Holdings LLC	7/18/2025		Business Services		10.67	%	SOFR+535			2,262		2,261		2,259
The Aegis Technologies Group, LLC	10/31/2025		Aerospace and Defense		12.04	%	SOFR+665			5,602		5,560		5,518
The Bluebird Group LLC	7/27/2026		Professional Services		12.79	%	SOFR+700			5,403		5,336		5,382
The Vertex Companies, LLC	8/31/2027		Construction and Engineering		11.72	%	SOFR+635			7,716		7,591		7,656
TPC Canada Parent, Inc. and TPC US Parent, LLC	11/24/2025		Consumer Goods: Non-Durable		10.95	%	SOFR+565			8,654		8,556		8,654
TWS Acquisition Corporation	6/16/2025		Diversified Consumer Services		11.80	%	SOFR+625			4,316		4,310		4,316
Tyto Athene, LLC	4/1/2028		IT Services		10.90	%	SOFR+550			14,670		14,565		13,379
Urology Management Holdings, Inc.	6/15/2026		Healthcare and Pharmaceuticals		11.79	%	SOFR+665			6,892		6,775		6,749
Walker Edison Furniture Company LLC	3/31/2027		Wholesale		12.18	%	SOFR+685			3,521		3,521		3,521
Walker Edison Furniture Company LLC - Junior Revolving Credit Facility	3/31/2027		Wholesale		11.68	%	SOFR+635			1,667		1,667		1,667
Walker Edison Furniture Company LLC - DDTL - Unfunded (3)	3/31/2027		Wholesale							333		-		-
Wildcat Buyerco, Inc.	2/27/2026		Electronic Equipment, Instruments, and Components		10.54	%	SOFR+515			10,565		10,491		10,460
Zips Car Wash, LLC	3/1/2024		Automobiles		12.67	%	SOFR+735			16,732		16,660		16,188

Total First Lien Secured Debt												801,215		783,598
Equity Securities - 3.9%
New MPE Holdings, LLC		—	Media: Diversified and Production		—			—		-		-		495
Walker Edison Furniture - Common Equity		—	Wholesale							36		3,393		1,766
Total Equity Securities												3,393		2,261
Total Investments - 1,351.4%												804,608		785,859
Cash and Cash Equivalents - 133.2%
BlackRock Federal FD Institutional 30												77,446		77,446
Total Cash and Cash Equivalents												77,446		77,446
Total Investments and Cash Equivalents —1,485.4%											$	882,054		863,305
Liabilities in Excess of Other Assets — (1,385.4)%														(805,155	)
Members' Equity—100.0%														58,150

(1)

Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured Overnight Financing Rate or "SOFR", or Prime rate or “P”. The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.

(2)

Valued based on PSSL’s accounting policy.

(3)

Represents the purchase of a security with a delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.

(4)

Security currently on interest non-accrual status.

Below is a listing of PSSL’s individual investments as of September 30, 2022 (Par and $ in thousands):


Issuer Name	Maturity	Industry	Current Coupon			Basis Point Spread Above Index (1)	Par		Cost		Fair Value (2)
First Lien Secured Debt - 1,330.4%
Ad.net Acquisition, LLC	5/6/2026	Media		9.67	%	3M L+600		8,888	$	8,788	$	8,821
Alpine Acquisition Corp II	11/30/2026	Containers and Packaging		8.22	%	SOFR+600		9,975		9,790		9,576
Altamira Technologies, LLC	7/24/2025	Business Services		10.81	%	3M L+800		5,225		5,113		5,042
American Insulated Glass, LLC	12/21/2023	Building Products		7.79	%	3M L+550		4,883		4,851		4,883
Anteriad, LLC (f/k/a MeritDirect, LLC)	5/23/2024	Media: Advertising, Printing & Publishing		9.67	%	3M L+550		5,284		5,208		5,284
Any Hour Services	7/21/2027	Professional Services		8.33	%	3M L+525		3,510		3,441		3,440
Apex Service Partners, LLC	7/31/2025	Diversified Consumer Services		6.72	%	1M L+525		1,010		1,010		1,005
Apex Service Partners, LLC Term Loan B	7/31/2025	Diversified Consumer Services		9.67	%	3M L+625		2,202		2,202		2,191
Apex Service Partners, LLC Term Loan C	7/31/2025	Diversified Consumer Services		7.86	%	3M L+525		11,115		11,050		11,059
Applied Technical Services, LLC	12/29/2026	Commercial Services & Supplies		8.76	%	3M L+575		8,421		8,317		8,211
Arcfield Acquisition Corp.	3/7/2028	Aerospace and Defense		8.99	%	SOFR + 575		4,677		4,588		4,583
Beta Plus Technologies, Inc.	7/1/2029	Business Services		7.76	%	SOFR + 525		5,000		4,903		4,900
Blackhawk Industrial Distribution, Inc.	9/17/2024	Distributors		8.62	%	SOFR + 500		15,293		15,102		14,956
Broder Bros., Co.	12/2/2022	Consumer Products		7.39	%	3M L+600		2,417		2,417		2,417
By Light Professional IT Services, LLC	5/16/2024	High Tech Industries		9.20	%	1M L+662		14,822		14,771		14,674
Cadence Aerospace, LLC	11/14/2023	Aerospace and Defense		11.31	%	3M L+325		12,412		12,385		12,288
			(PIK 11.31%)
Cartessa Aesthetics, LLC	5/13/2028	Distributors		9.55	%	SOFR + 600		6,484		6,359		6,386
CF512, Inc.	8/20/2026	Media		9.08	%	3M L+600		4,950		4,866		4,876
CHA Holdings, Inc.	4/10/2025	Construction and Engineering		8.17	%	3M L+450		5,557		5,487		5,557
Challenger Performance Optimization, Inc.	8/31/2023	Business Services		9.27	%	1M L+575		9,271		9,247		8,993
			(PIK 1.00%)
Connatix Buyer, Inc.	7/13/2027	Media		8.42	%	3M L+550		3,907		3,842		3,810
Crane 1 Services, Inc.	8/16/2027	Commercial Services & Supplies		9.39	%	3M L+575		2,110		2,084		2,089
Douglas Products and Packaging Company LLC	10/19/2022	Chemicals, Plastics and Rubber		8.87	%	3M L+575		8,655		8,653		8,655
Douglas Sewer Intermediate, LLC	10/19/2022	Chemicals, Plastics and Rubber		8.87	%	3M L+575		7,248		7,246		7,248
Dr. Squatch, LLC	8/31/2027	Personal Products		9.42	%	3M L+575		14,862		14,610		14,639
DRI Holding Inc.	12/21/2028	Media		8.37	%	1M L+525		1,832		1,680		1,643
DRS Holdings III, Inc.	11/3/2025	Consumer Goods: Durable		8.87	%	1M L+575		15,179		15,103		14,693
Duraco Specialty Tapes LLC	6/30/2024	Containers and Packaging		8.62	%	1M L+550		10,278		10,151		10,031
ECL Entertainment, LLC	5/1/2028	Hotels, Restaurants and Leisure		10.62	%	3M L+750		2,621		2,598		2,581
ECM Industries, LLC	12/23/2025	Electronic Equipment, Instruments, and Components		7.82	%	3M L+475		4,974		4,974		4,738
Exigo Intermediate II, LLC	3/15/2027	Software		8.87	%	1M L+575		12,935		12,759		12,644
Fairbanks Morse Defense	6/17/2028	Aerospace and Defense		8.39	%	3M L+475		10,300		10,238		9,528
Gantech Acquisition Corp.	5/14/2026	IT Services		9.37	%	1M L+625		14,638		14,427		14,199
Global Holdings InterCo LLC	3/16/2026	Diversified Financial Services		8.74	%	3M L+600		3,904		3,888		3,728
Graffiti Buyer, Inc.	8/10/2027	Trading Companies & Distributors		9.17	%	3M L+550		2,369		2,320		2,274
Hancock Roofing and Construction L.L.C.	12/31/2026	Insurance		8.67	%	1M L+500		2,392		2,347		2,356
Holdco Sands Intermediate, LLC	11/23/2028	Aerospace and Defense		10.17	%	3M L+600		4,963		4,874		4,863
HW Holdco, LLC	12/10/2024	Media		6.00	%	6M L+575		3,052		3,006		3,014
Icon Partners III, LP	5/11/2028	Automobiles		7.55	%	3M L+450		2,327		1,997		1,701
IDC Infusion Services, Inc.	12/30/2026	Healthcare Equipment and Supplies		10.20	%	SOFR+700		9,950		9,833		9,502
Imagine Acquisitionco, LLC	11/15/2027	Software		8.42	%	1M L+550		5,364		5,261		5,230
Inception Fertility Ventures, LLC	12/7/2023	Healthcare Providers and Services		8.55	%	SOFR+700		16,620		16,309		16,454
Integrative Nutrition, LLC	9/29/2023	Diversified Consumer Services		8.42	%	3M L+475		11,187		11,168		10,963
Integrity Marketing Acquisition, LLC	8/27/2025	Insurance		7.58	%	1M L+550		5,966		5,885		5,906
ITI Holdings, Inc.	3/3/2028	IT Services		8.67	%	SOFR + 550		3,980		3,917		3,900
K2 Pure Solutions NoCal, L.P.	12/20/2023	Chemicals, Plastics and Rubber		11.12	%	1M L+800		19,250		19,103		19,250
Kinetic Purchaser, LLC	11/10/2027	Personal Products		9.67	%	3M L+600		16,830		16,451		16,494
Lash OpCo, LLC	2/18/2027	Personal Products		11.17	%	3M L+700		14,355		14,074		14,068
LAV Gear Holdings, Inc.	10/31/2024	Capital Equipment		9.70	%	3M L+550		10,578		10,539		10,335
			(PIK 2.00%)
Lightspeed Buyer Inc.	2/3/2026	Healthcare Providers and Services		9.04	%	3M L+575		10,598		10,428		10,254
Lucky Bucks, LLC	7/20/2027	Hotel, Gaming and Leisure		8.31	%	3M L+550		4,331		4,258		3,183
Magenta Buyer, LLC	7/31/2028	Software		7.87	%	1M L+475		2,695		2,539		2,425
Marketplace Events, LLC - Super Priority First Lien Term Loan	9/30/2025	Media: Diversified and Production		8.19	%	1M L+525		647		647		647
Marketplace Events, LLC - Super Priority First Lien Unfunded Term Loan (3)	9/30/2025	Media: Diversified and Production						589		-		-
Marketplace Events, LLC	9/30/2026	Media: Diversified and Production		8.19	%	1M L+525		4,837		3,527		4,837
Mars Acquisition Holdings Corp.	5/14/2026	Media		8.62	%	1M L+550		9,900		9,782		9,851
MBS Holdings, Inc.	4/16/2027	Internet Software and Services		8.56	%	3M L+575		7,406		7,296		7,332
MDI Buyer, Inc.	7/25/2028	Chemicals, Plastics and Rubber		8.98	%	3M L+500		5,000		4,902		4,900
Meadowlark Acquirer, LLC	12/10/2027	Professional Services		9.17	%	3M L+650		2,396		2,353		2,372
Mission Critical Electronics, Inc.	3/28/2024	Capital Equipment		8.70	%	SOFR+500		5,829		5,817		5,759
Municipal Emergency Services, Inc.	9/28/2027	Distributors		8.67	%	3M L+500		3,465		3,405		3,264
NBH Group LLC	8/19/2026	Healthcare, Education & Childcare		7.80	%	1M L+550		10,820		10,641		10,820
New Milani Group LLC	6/6/2024	Consumer Goods: Non-Durable		7.75	%	3M L+500		14,363		14,319		14,111
OIS Management Services, LLC	7/9/2026	Healthcare Equipment and Supplies		8.40	%	SOFR+475		5,060		4,991		5,060
One Stop Mailing, LLC	5/7/2027	Air Freight and Logistics		9.37	%	1M L+625		14,598		14,353		14,160
Output Services Group, Inc.	3/27/2024	Business Services		9.80	%	3M L+425		7,682		7,676		5,838
Owl Acquisition, LLC	2/4/2028	Professional Services		8.41	%	3M L+575		3,990		3,918		3,890
Ox Two, LLC	5/18/2026	Construction and Building		9.81	%	3M L+600		4,925		4,866		4,827
PH Beauty Holdings III, Inc.	9/29/2025	Wholesale		8.07	%	1M L+500		9,593		9,234		7,674
PL Acquisitionco, LLC	11/9/2027	Textiles, Apparel and Luxury Goods		9.62	%	1M L+650		8,238		8,111		8,032
Plant Health Intermediate, Inc.	10/19/2022	Chemicals, Plastics and Rubber		8.87	%	3M L+575		1,562		1,561		1,562
PlayPower, Inc.	5/8/2026	Consumer Goods: Durable		9.17	%	3M L+550		2,580		2,500		2,309
Pragmatic Institute, LLC	7/6/2028	Education		9.30	%	SOFR+575		11,250		11,056		11,138
Quantic Electronics, LLC	11/19/2026	Aerospace and Defense		8.41	%	1M L+625		4,845		4,755		4,729
Quantic Electronics, LLC - Unfunded Term Loan (3)	11/19/2026	Aerospace and Defense						1,888		-		-
Reception Purchaser, LLC	2/28/2028	Air Freight and Logistics		9.13	%	SOFR+600		4,975		4,904		4,751
Recteq, LLC	1/29/2026	Leisure Products		9.92	%	3M L+600		4,925		4,856		4,753
Research Now Group, LLC and Dynata, LLC	12/20/2024	Diversified Consumer Services		8.84	%	3M L+550		12,564		12,354		11,291

Below is a listing of PSSL’s individual investments as of September 30, 2022 (Par and $ in thousands)(continued):


Issuer Name	Maturity		Industry	Current Coupon			Basis Point Spread Above Index (1)		Par / Shares		Cost		Fair Value (2)
Sales Benchmark Index LLC	1/3/2025		Professional Services		9.67	%	3M L+600			5,013	$	4,960	$	4,963
Sargent & Greenleaf Inc.	12/20/2024		Wholesale		8.62	%	3M L+550			5,240		5,202		5,187
Schlesinger Global, Inc.	7/14/2025		Business Services		10.27	%	SOFR+500			11,847		11,829		11,551
				(PIK 0.50%)
Sigma Defense Systems, LLC	12/18/2025		Aerospace and Defense		12.17	%	1M L+850			14,716		14,411		14,421
Smile Brands Inc.	10/14/2025		Healthcare and Pharmaceuticals		7.05	%	3M L+450			11,917		11,807		11,470
Solutionreach, Inc.	1/17/2024		Healthcare and Pharmaceuticals		8.87	%	1M L+575			5,647		5,625		5,511
Spendmend Holdings LLC	3/1/2028		Healthcare Technology		8.63	%	SOFR+575			2,956		2,916		2,873
STV Group Incorporated	12/11/2026		Construction and Building		8.37	%	3M L+525			9,075		9,011		8,985
System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC)	8/16/2027		Aerospace and Defense		8.73	%	SOFR+600			14,888		14,623		14,649
Teneo Holdings LLC	7/18/2025		Business Services		8.38	%	3M L+625			2,786		2,757		2,623
The Aegis Technologies Group, LLC	10/31/2025		Aerospace and Defense		9.55	%	3M L+500			5,659		5,600		5,603
The Bluebird Group LLC	7/27/2026		Professional Services		10.67	%	1M L+700			1,707		1,679		1,724
The Infosoft Group, LLC	9/16/2024		Media: Broadcasting and Subscription		8.47	%	3M L+525			12,957		12,952		12,859
The Vertex Companies, LLC	8/30/2027		Construction and Engineering		8.62	%	1M L+550			5,578		5,479		5,550
TPC Canada Parent, Inc. and TPC US Parent, LLC	11/24/2025		Consumer Goods: Non-Durable		8.30	%	3M L+475			8,744		8,604		8,482
TVC Enterprises, LLC	3/26/2026		Diversified Consumer Services		8.87	%	3M L+550			14,952		14,871		14,578
TWS Acquisition Corporation	6/16/2025		Diversified Consumer Services		8.76	%	3M L+625			5,468		5,450		5,441
Tyto Athene, LLC (New Issue)	4/1/2028		IT Services		7.76	%	3M L+550			15,550		15,421		14,446
UBEO, LLC	4/3/2024		Capital Equipment		8.17	%	3M L+450			17,390		17,305		17,129
Unique Indoor Comfort, LLC	5/24/2027		Home and Office Furnishings, Housewares		8.95	%	SOFR+525			4,975		4,880		4,866
Walker Edison Furniture Company LLC	3/31/2027		Wholesale		12.42	%	3M L+575			12,684		12,438		8,473
				(PIK 3.0%)
Wildcat Buyerco, Inc.	2/27/2026		Electronic Equipment, Instruments, and Components		9.45	%	SOFR+550			8,546		8,506		8,261
Zips Car Wash, LLC	3/1/2024		Automobiles		10.35	%	3M L+725			16,957		16,711		16,536

Total First Lien Secured Debt												767,316		751,628
Second Lien Secured Debt - 5.2%


Inventus Power, Inc.	9/29/2024		Consumer Goods: Durable		12.17	%	3M L+850			3,000		2,963		2,955
Total Second Lien Secured Debt												2,963		2,955
Equity Securities - 0.3%
New MPE Holdings, LLC		—	Media: Diversified and Production		—			—		—		—		139
Total Equity Securities												—		139
Total Investments - 1,335.9%												770,280		754,722
Cash and Cash Equivalents - 53.4%
BlackRock Federal FD Institutional 30												30,152		30,152
Total Cash and Cash Equivalents												30,152		30,152
Total Investments and Cash Equivalents —1,389.26%											$	800,432	$	784,874
Liabilities in Excess of Other Assets — (1,289.26)%														(728,378	)
Members' Equity—100.0%													$	56,496

(1)

Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable LIBOR, or “L”, Secured Overnight Financing Rate or "SOFR", or Prime rate or “P”. The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to a 30-day, 60-day, 90-day or 180-day SOFR rate (1M S, 2M S, 3M S, or 6M S, respectively), at the borrower’s option. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.

(2)

Valued based on PSSL’s accounting policy.

(3)

Consolidated Statements of Assets and Liabilities for PSSL

Below are the consolidated statements of assets and liabilities for PSSL (in thousands):




		September 30, 2023			September 30, 2022
Assets
Investments at fair value (amortized cost—$804,608 and $770,280, respectively)	$		785,859	$		754,722
Cash and cash equivalents (cost—$77,446 and $30,152, respectively)			77,446			30,152
Interest receivable			5,179			3,025
Receivable for investment sold			—			3,637
Prepaid expenses and other assets			490			1,722
Due from affiliate			436			3,553
Total assets			869,410			796,811
Liabilities
Credit facility payable			48,600			259,500
2032 Asset-backed debt, net (par—$246,000)			243,973			243,365
2035 Asset-backed debt, net (par—$246,000)			243,483			—
Notes payable to members			240,100			217,350
Interest payable on Credit facility and asset backed debt			14,291			3,817
Payable for investments purchased			13,466			10,414
Interest payable on notes to members			6,488			4,719
Accrued expenses			859			1,150
Total liabilities			811,260			740,315
Commitments and contingencies
Members' equity			58,150			56,496
Total liabilities and members' equity	$		869,410	$		796,811

(1)

As of both September 30, 2023 and 2022, PSSL had $2.5 million and $0.6 million unfunded commitments to fund investments, respectively.

Consolidated Statements of Operations for PSSL

Below are the consolidated statements of operations for PSSL (in thousands):



	Year Ended September 30,
	2023			2022
Investment income:
Interest	$	89,547		$	53,006
Other income		1,297			1,188
Total investment income		90,844			54,194
Expenses:
Interest and expense on credit facility and asset-backed debt		42,797			18,410
Interest expense on notes to members		30,325			17,468
Administration fees		2,103			1,835
General and administrative expenses		1,116			1,156
Total expenses		76,341			38,869
Net investment income		14,503			15,325
Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on investments		(6,328	)		(14,948	)
Net change in unrealized appreciation (depreciation) on investments		(3,171	)		(3,695	)
Net realized and unrealized gain (loss) on investments		(9,499	)		(18,643	)
Net increase (decrease) in members' equity resulting from operations	$	5,004		$	(3,318	)

(1)

No management or incentive fees are payable by PSSL. If any fees were to be charged, they would be separately disclosed in the Statements of Operations.

Investments

12 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

4. INVESTMENTS

Purchases of investments, including PIK interest, for the years ended September 30, 2023, 2022, and 2021 totaled $325.8 million, $609.2 million, and $664.1 million, respectively. Sales and repayments of investments for the same years totaled $399.1 million, $495.2 million, and $702.1 million, respectively.

Investments and cash and cash equivalents consisted of the following (in thousands):


	September 30, 2023				September 30, 2022
Investment Classification	Cost		Fair Value		Cost		Fair Value
First lien	$	708,452	$	696,078	$	838,842	$	819,461
First lien in PSSL		210,088		210,088		190,181		190,181
Second lien		1,113		149		1,113		147
Equity		83,188		109,978		65,715		105,031
Equity interests in PSSL		90,038		50,881		81,506		49,434
Total investments		1,092,878		1,067,174		1,177,357		1,164,254
Cash and cash equivalents		100,555		100,555		51,525		51,488
Total investments and cash and cash equivalents	$	1,193,433	$	1,167,729	$	1,228,882	$	1,215,742

The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets (excluding cash and cash equivalents) in such industries:


Industry Classification	September 30, 2023 (1)			September 30, 2022 (1)
Media		9	%		7	%
Healthcare Providers and Services		9		3
Personal Products		8		7
Professional Services		7		9
Aerospace and Defense		6		4
Media: Diversified and Production		6		5
High Tech Industries		5		5
Healthcare Technology		4		4
Commercial Services & Supplies		4		5
IT Services		4		6
Diversified Consumer Services		3		4
Electronic Equipment, Instruments, and Components		3		3
Construction and Building		3		3
Insurance		3		2
Distributors		3		2
Chemicals, Plastics and Rubber		2		2
Business Services		2		3
Consumer Services		2		2
Capital Equipment		2		4
Automobiles		2		1
Hotels, Restaurants and Leisure		2		1
Healthcare Equipment and Supplies		1		2
Financial Services		1		1
Construction & Engineering		1		0
Diversified Financial Services		1		2
Leisure Products		1		1
Air Freight and Logistics		1		1
Textiles, Apparel and Luxury Goods		1		1
Energy Equipment and Services		1		1
Internet Software and Services		1		1
Food Products		1		1
Wholesale		1		1
Banking, Finance, Insurance & Real Estate		1		1
Consumer Finance		1		1
All Other	2			4
Total		100	%		100	%

(1)

Excludes investments in PSSL.

PennantPark Senior Secured Loan Fund I LLC

In May 2017, we and Kemper formed PSSL, an unconsolidated joint venture. PSSL invests primarily in middle-market and other corporate debt securities consistent with our strategy. PSSL was formed as a Delaware limited liability company. As of September 30, 2023 and 2023, PSSL had total assets of $869.4 million and $796.8 million, respectively, and its investment portfolio consisted of investments in 105 and 95 portfolio companies, respectively. As of September 30, 2023, at fair value, the largest investment in a single portfolio company in PSSL was $18.5 million and the five largest investments totaled $83.4 million. As of September 30, 2022, at fair value, the largest investment in a single portfolio company in PSSL was $19.3 million and the five largest investments totaled $86.9 million. PSSL invests in portfolio companies in the same industries in which we may directly invest.

We and Kemper provide capital to PSSL in the form of first lien secured debt and equity interests. As of September 30, 2023, and 2022, we and Kemper owned 87.5% and 12.5%, respectively, of each of the outstanding first lien secured debt and equity interests. As of the same dates, our investment in PSSL consisted of first lien secured debt of $210.1 million (additional $27.6 million unfunded) and $190.2 million (additional $19.9 million unfunded), respectively, and equity interests of $90.0 million (additional $11.8 million unfunded) and $81.5 million (additional $8.5 million unfunded), respectively.

We and Kemper each appointed two members to PSSL’s four-person board of directors and investment committee. All material decisions with respect to PSSL, including those involving its investment portfolio, require unanimous approval of a quorum of the board of directors or investment committee. Quorum is defined as (i) the presence of two members of the board of directors or investment committee, provided that at least one individual is present that was elected, designated or appointed by each member; (ii) the presence of three members of the board of directors or investment committee, provided that the individual that was elected, designated or appointed by the member with only one individual present shall be entitled to cast two votes on each matter; and (iii) the presence of four members of the board of directors or investment committee shall constitute a quorum, provided that two individuals are present that were elected, designated or appointed by each member.

In August 2023 PSSL entered into a $260.0 million (decreased from $325.0 million) senior secured revolving credit facility which bears interest at daily simple SOFR plus 260 basis points (including a spread adjustment) with Ally Bank through its wholly-owned subsidiary, PennantPark Senior Secured Loan Facility LLC II, or PSSL Subsidiary II, subject to leverage and borrowing base restrictions.

In January 2021, PSSL completed a $300.7 million debt securitization in the form of a collateralized loan obligation, or the “2032 Asset-Backed Debt”. The 2032 Asset-Backed Debt is secured by a diversified portfolio of PennantPark CLO II, Ltd., a wholly-owned and consolidated subsidiary of PSSL, consisting primarily of middle market loans and participation interests in middle market loans. The 2032 Asset-Backed Debt is scheduled to mature in January 2032. On the closing date of the transaction, in consideration of PSSL’s transfer to PennantPark CLO II, Ltd. of the initial closing date loan portfolio, which included loans distributed to PSSL by certain of its wholly owned subsidiaries and us, PennantPark CLO II, Ltd. transferred to PSSL 100% of the Preferred Shares of PennantPark CLO II, Ltd. and 100% of the Class E Notes issued by PennantPark CLO II, Ltd.

In April 2023, PSSL completed a $297.8 million debt securitization in the form of a collateralized loan obligation, or the “2035 Asset-Backed Debt”. The 2035 Asset-Backed Debt is secured by a diversified portfolio of PennantPark CLO VI, LLC, a wholly-owned and consolidated subsidiary of PSSL, consisting primarily of middle market loans and participation interests in middle market loans. The 2035 Asset-Backed Debt is scheduled to mature in April 2035. On the closing date of the transaction, in consideration of PSSL’s transfer to PennantPark CLO VI, LLC of the initial closing date loan portfolio, which included loans distributed to PSSL by certain of its wholly owned subsidiaries and us, PennantPark CLO VI, LLC transferred to PSSL 100% of the Preferred Shares of CLO VI, LLC

Below is a summary of PSSL’s portfolio at fair value ($ in thousands):


($ in thousands)	September 30, 2023			September 30, 2022
Total investments	$	785,859		$	754,722
Weighted average cost yield on income producing investments		12.1	%		9.6	%
Number of portfolio companies in PSSL		105			95
Largest portfolio company investment	$	18,463		$	19,250
Total of five largest portfolio company investments	$	83,365		$	86,872

Below is a listing of PSSL’s individual investments as of September 30, 2023 (par and $ in thousands):


Issuer Name	Maturity	Industry	Current Coupon			Basis Point Spread Above Index (1)	Par		Cost		Fair Value (2)
First Lien Secured Debt - 1,347.5%
A1 Garage Merger Sub, LLC	12/22/2028	Commercial Services & Supplies		11.84	%	SOFR+660		2,940	$	2,886	$	2,925
Ad.net Acquisition, LLC	5/7/2026	Media		11.65	%	SOFR+626		8,798		8,723		8,754
Alpine Acquisition Corp II	11/30/2026	Containers and Packaging		11.24	%	SOFR+600		12,852		12,535		12,338
Anteriad, LLC (f/k/a MeritDirect, LLC)	5/23/2024	Media: Advertising, Printing & Publishing		11.04	%	SOFR+550		5,001		4,971		4,913
Anteriad Holdings Inc (fka MeritDirect) March 2023	5/23/2024	Media: Advertising, Printing & Publishing		12.04	%	SOFR+650		4,875		4,817		4,814
Any Hour Services	7/21/2027	Professional Services		11.59	%	SOFR+585		7,510		7,348		7,360
Apex Service Partners, LLC	7/31/2025	Diversified Consumer Services		10.52	%	SOFR+525		1,002		1,002		1,000
Apex Service Partners, LLC Term Loan B	7/31/2025	Diversified Consumer Services		11.04	%	SOFR+550		2,187		2,187		2,181
Apex Service Partners, LLC Term Loan C	7/31/2025	Diversified Consumer Services		10.69	%	SOFR+525		11,013		10,972		10,985
Applied Technical Services, LLC	12/29/2026	Commercial Services & Supplies		11.54	%	SOFR+615		9,579		9,475		9,387
Applied Technical Services, LLC - DDTL Unfunded (3)	12/29/2026	Commercial Services & Supplies						194		-		(2	)
Arcfield Acquisition Corp.	8/3/2029	Aerospace and Defense		11.62	%	SOFR+625		9,218		9,093		9,126
Beta Plus Technologies, Inc.	7/1/2029	Business Services		11.14	%	SOFR+575		4,950		4,863		4,604
BioDerm, Inc.	1/31/2028	Healthcare and Pharmaceuticals		11.83	%	SOFR+650		8,978		8,874		8,933
Blackhawk Industrial Distribution, Inc.	9/17/2026	Distributors		11.79	%	SOFR+640		15,132		14,928		14,905
Broder Bros., Co.	12/4/2025	Consumer Products		11.50	%	SOFR+626		2,349		2,349		2,349
Burgess Point Purchaser Corporation	9/26/2029	Automotive		10.67	%	SOFR+525		447		418		420
By Light Professional IT Services, LLC	5/16/2025	High Tech Industries		12.43	%	SOFR+688		13,821		13,778		13,579
Cadence Aerospace, LLC	11/14/2023	Aerospace and Defense		12.07	%	SOFR+665		4,011		4,010		4,011
			(PIK 2.00%)
Cartessa Aesthetics, LLC	6/14/2028	Distributors		11.39	%	SOFR+600		9,636		9,509		9,636
CF512, Inc.	8/20/2026	Media		11.60	%	SOFR+619		6,820		6,722		6,684
CHA Holdings, Inc.	4/10/2025	Construction and Engineering		10.15	%	SOFR+476		5,499		5,455		5,499
Challenger Performance Optimization, Inc.	8/31/2024	Business Services		12.18	%	SOFR+675		9,232		9,201		8,955
			(PIK 1.00%)
Confluent Health, LLC	10/28/2028	Healthcare and Pharmaceuticals		9.32	%	SOFR+400		6,797		6,559		6,445
Connatix Buyer, Inc.	7/13/2027	Media		11.16	%	SOFR+576		3,815		3,762		3,681
Crane 1 Services, Inc.	8/16/2027	Commercial Services & Supplies		10.90	%	SOFR+551		2,089		2,067		2,079
Dr. Squatch, LLC	8/31/2027	Personal Products		11.24	%	SOFR+585		14,712		14,511		14,712
DRI Holding Inc.	12/21/2028	Media		10.67	%	SOFR+525		2,627		2,418		2,394
DRS Holdings III, Inc.	11/3/2025	Consumer Goods: Durable		11.79	%	SOFR+640		14,429		14,376		14,256
Duraco Specialty Tapes LLC	6/30/2024	Containers and Packaging		11.89	%	SOFR+650		10,904		10,838		10,740
ECL Entertainment, LLC	8/31/2030	Hotel, Gaming and Leisure		10.07	%	SOFR+475		5,000		4,900		4,985
EDS Buyer, LLC	1/10/2029	Electronic Equipment, Instruments, and Components		11.64	%	SOFR+625		8,955		8,833		8,821
Electro Rent Corporation	1/17/2024	Electronic Equipment, Instruments, and Components		11.00	%	SOFR+550		2,219		2,200		2,171
Exigo Intermediate II, LLC	3/15/2027	Software		11.17	%	SOFR+585		12,675		12,505		12,422
ETE Intermediate II, LLC	5/29/2029	Diversified Consumer Services		11.89	%	SOFR+650		12,404		12,154		12,193
Fairbanks Morse Defense	6/17/2028	Aerospace and Defense		10.40	%	SOFR+475		10,195		10,143		10,114
Global Holdings InterCo LLC	3/16/2026	Diversified Financial Services		11.96	%	SOFR+660		3,736		3,724		3,549
Graffiti Buyer, Inc.	8/10/2027	Trading Companies & Distributors		10.99	%	SOFR+575		2,345		2,316		2,322
Hancock Roofing and Construction L.L.C.	12/31/2026	Insurance		10.92	%	SOFR+560		2,250		2,217		2,194
Holdco Sands Intermediate, LLC	11/23/2028	Aerospace and Defense		11.32	%	SOFR+585		4,913		4,838		4,913
HW Holdco, LLC	12/10/2024	Media		11.75	%	SOFR+640		3,014		2,988		2,968
Imagine Acquisitionco, LLC	11/15/2027	Software		10.72	%	SOFR+535		9,248		9,075		9,110
Inception Fertility Ventures, LLC	12/31/2024	Healthcare Providers and Services		12.51	%	SOFR+715		16,453		16,257		16,453
Infinity Home Services Holdco, Inc.	12/28/2028	Commercial Services & Supplies		12.24	%	SOFR+685		6,090		5,979		6,090
Integrated Data Services	8/1/2029	Business Services		11.87	%	SOFR+650		18,904		18,532		18,463
Integrative Nutrition, LLC	1/31/2025	Diversified Consumer Services		12.54	%	SOFR+700		11,105		11,083		10,439
			(PIK 2.25%)
Integrity Marketing Acquisition, LLC	8/27/2026	Insurance		11.57	%	SOFR+575		5,906		5,851		5,847
Inventus Power, Inc.	6/30/2025	Consumer Goods: Durable		12.93	%	SOFR+761		8,246		8,097		8,081
ITI Holdings, Inc.	3/3/2028	IT Services		11.06	%	SOFR+560		3,940		3,886		3,861
K2 Pure Solutions NoCal, L.P.	12/20/2023	Chemicals, Plastics and Rubber		13.42	%	SOFR+810		15,509		15,487		15,509
Kinetic Purchaser, LLC	11/10/2027	Personal Products		11.54	%	SOFR+615		16,662		16,346		16,412
Lash OpCo, LLC	2/18/2027	Personal Products		12.13	%	SOFR+675		14,210		13,989		14,068
LAV Gear Holdings, Inc.	10/31/2024	Capital Equipment		11.74	%	SOFR+643		15,042		14,997		14,862
Lightspeed Buyer Inc.	2/3/2026	Healthcare Providers and Services		10.70	%	SOFR+535		12,056		11,911		11,935
LJ Avalon Holdings, LLC	1/31/2030	Environmental Industries		11.77	%	SOFR+640		2,585		2,537		2,534
Loving Tan Intermediate II, Inc.	5/26/2028	Consumer Products		12.39	%	SOFR+700		7,481		7,337		7,369
Lucky Bucks, LLC (4)	7/20/2027	Hotel, Gaming and Leisure		0.00	%			4,489		4,207		1,182
Lucky Bucks. LLC - OpCo DIP Loans	9/30/2025	Hotel, Gaming and Leisure		15.33	%	SOFR+1000		160		158		160
MAG DS Corp	4/1/2027	Aerospace and Defense		10.99	%	SOFR+550		2,097		2,007		1,986
Magenta Buyer, LLC	7/31/2028	Software		10.63	%	SOFR+500		3,006		2,845		2,228
Marketplace Events, LLC - Super Priority First Lien Term Loan	9/30/2025	Media: Diversified and Production		10.94	%	SOFR+525		647		647		647
Marketplace Events, LLC - Super Priority First Lien Unfunded Term Loan (3)	9/30/2025	Media: Diversified and Production						589		-		-
Marketplace Events, LLC	9/30/2026	Media: Diversified and Production		10.94	%	SOFR+525		4,837		3,782		4,837
Mars Acquisition Holdings Corp.	5/14/2026	Media		11.04	%	SOFR+565		11,588		11,476		11,472
MBS Holdings, Inc.	4/16/2027	Internet Software and Services		11.17	%	SOFR+585		7,859		7,758		7,749
MDI Buyer, Inc.	7/25/2028	Chemicals, Plastics and Rubber		11.32	%	SOFR+600		6,380		6,271		6,244
Meadowlark Acquirer, LLC	12/10/2027	Professional Services		11.04	%	SOFR+565		2,372		2,336		2,312


Issuer Name	Maturity		Industry	Current Coupon			Basis Point Spread Above Index (1)		Par / Shares		Cost		Fair Value (2)
Mission Critical Electronics, Inc.	3/28/2024		Capital Equipment		11.29	%	SOFR+515			5,769	$	5,763	$	5,740
Municipal Emergency Services, Inc.	9/28/2027		Distributors		11.04	%	SOFR+565			3,430		3,380		3,355
NBH Group LLC	8/19/2026		Healthcare, Education & Childcare		10.93	%	SOFR+525			10,711		10,572		10,497
Neptune Flood Incorporated	5/9/2029		Insurance		11.97	%	SOFR+650			5,042		4,970		5,042
New Milani Group LLC	6/6/2024		Consumer Goods: Non-Durable		10.92	%	SOFR+550			14,213		14,194		14,213
One Stop Mailing, LLC	5/7/2027		Air Freight and Logistics		11.68	%	SOFR+636			15,849		15,588		15,849
ORL Acquisitions, Inc.	9/3/2027		Consumer Finance		12.84	%	SOFR+725			2,223		2,202		2,023
Output Services Group, Inc. (4)	6/27/2026		Business Services		0.00	%		—		7,759		7,689		1,513
Owl Acquisition, LLC	2/4/2028		Professional Services		10.80	%	SOFR+575			3,893		3,832		3,834
Ox Two, LLC	5/18/2026		Construction and Building		12.90	%	SOFR+751			4,345		4,306		4,269
Peaquod Merger Sub, Inc.	12/2/2026		Diversified Financial Services		11.79	%	SOFR+640			11,474		11,267		11,244
PH Beauty Holdings III, Inc.	9/29/2025		Wholesale		10.68	%	SOFR+500			9,493		9,282		7,974
PL Acquisitionco, LLC	11/9/2027		Textiles, Apparel and Luxury Goods		12.42	%	SOFR+710			7,565		7,467		6,809
				(PIK 4.00%)
PlayPower, Inc.	5/8/2026		Consumer Goods: Durable		10.57	%	SOFR+565			2,551		2,491		2,436
Pragmatic Institute, LLC	7/6/2028		Education		11.17	%	SOFR+575			11,138		10,999		10,636
Quantic Electronics, LLC	11/19/2026		Aerospace and Defense		11.74	%	SOFR+635			2,803		2,776		2,761
Rancho Health MSO, Inc.	12/18/2025		Healthcare Providers and Services		11.22	%	SOFR+585			1,029		1,029		1,029
Reception Purchaser, LLC	2/28/2028		Air Freight and Logistics		11.54	%	SOFR+600			4,938		4,876		4,740
Recteq, LLC	1/29/2026		Leisure Products		12.54	%	SOFR+700			4,875		4,825		4,729
Research Now Group, LLC and Dynata, LLC	12/20/2024		Diversified Consumer Services		11.13	%	SOFR+576			12,432		12,322		10,878
Rural Sourcing Holdings, Inc. (HPA SPQ Merger Sub, Inc.)	6/15/2029		High Tech Industries		11.52	%	SOFR+625			3,749		3,676		3,692
Sales Benchmark Index LLC	1/3/2025		Professional Services		11.59	%	SOFR+620			9,522		9,474		9,475
Sargent & Greenleaf Inc.	12/20/2024		Wholesale		12.92	%	SOFR+760			5,167		5,148		5,116
				(PIK 1.00%)
Schlesinger Global, Inc.	7/14/2025		Business Services		12.52	%	SOFR+715			11,791		11,777		11,407
				(PIK 0.50%)
Seaway Buyer, LLC	6/13/2029		Chemicals, Plastics and Rubber		11.54	%	SOFR+615			4,950		4,884		4,802
Sigma Defense Systems, LLC	12/18/2025		Aerospace and Defense		14.04	%	SOFR+865			13,787		13,579		13,580
Skopima Consilio Parent, LLC	5/17/2028		Business Services		9.93	%	SOFR+450			1,300		1,274		1,272
Smile Brands Inc.	10/14/2025		Healthcare and Pharmaceuticals		9.70	%	SOFR+450			11,796		11,739		10,598
Solutionreach, Inc.	7/17/2025		Healthcare and Pharmaceuticals		12.37	%	SOFR+700			4,582		4,577		4,563
Spendmend Holdings LLC	3/1/2028		Healthcare Technology		11.04	%	SOFR+565			4,112		4,047		4,022
STV Group Incorporated	12/11/2026		Construction and Building		10.67	%	SOFR+535			9,075		9,025		8,894
Summit Behavioral Healthcare, LLC	11/24/2028		Healthcare and Pharmaceuticals		10.43	%	SOFR+475			1,786		1,696		1,779
System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC)	8/16/2027		Aerospace and Defense		11.49	%	SOFR+600			14,738		14,540		14,575
Team Services Group, LLC	11/24/2028		Healthcare and Pharmaceuticals		10.75	%	SOFR+500			346		333		339
Teneo Holdings LLC	7/18/2025		Business Services		10.67	%	SOFR+535			2,262		2,261		2,259
The Aegis Technologies Group, LLC	10/31/2025		Aerospace and Defense		12.04	%	SOFR+665			5,602		5,560		5,518
The Bluebird Group LLC	7/27/2026		Professional Services		12.79	%	SOFR+700			5,403		5,336		5,382
The Vertex Companies, LLC	8/31/2027		Construction and Engineering		11.72	%	SOFR+635			7,716		7,591		7,656
TPC Canada Parent, Inc. and TPC US Parent, LLC	11/24/2025		Consumer Goods: Non-Durable		10.95	%	SOFR+565			8,654		8,556		8,654
TWS Acquisition Corporation	6/16/2025		Diversified Consumer Services		11.80	%	SOFR+625			4,316		4,310		4,316
Tyto Athene, LLC	4/1/2028		IT Services		10.90	%	SOFR+550			14,670		14,565		13,379
Urology Management Holdings, Inc.	6/15/2026		Healthcare and Pharmaceuticals		11.79	%	SOFR+665			6,892		6,775		6,749
Walker Edison Furniture Company LLC	3/31/2027		Wholesale		12.18	%	SOFR+685			3,521		3,521		3,521
Walker Edison Furniture Company LLC - Junior Revolving Credit Facility	3/31/2027		Wholesale		11.68	%	SOFR+635			1,667		1,667		1,667
Walker Edison Furniture Company LLC - DDTL - Unfunded (3)	3/31/2027		Wholesale							333		-		-
Wildcat Buyerco, Inc.	2/27/2026		Electronic Equipment, Instruments, and Components		10.54	%	SOFR+515			10,565		10,491		10,460
Zips Car Wash, LLC	3/1/2024		Automobiles		12.67	%	SOFR+735			16,732		16,660		16,188

Total First Lien Secured Debt												801,215		783,598
Equity Securities - 3.9%
New MPE Holdings, LLC		—	Media: Diversified and Production		—			—		-		-		495
Walker Edison Furniture - Common Equity		—	Wholesale							36		3,393		1,766
Total Equity Securities												3,393		2,261
Total Investments - 1,351.4%												804,608		785,859
Cash and Cash Equivalents - 133.2%
BlackRock Federal FD Institutional 30												77,446		77,446
Total Cash and Cash Equivalents												77,446		77,446
Total Investments and Cash Equivalents —1,485.4%											$	882,054		863,305
Liabilities in Excess of Other Assets — (1,385.4)%														(805,155	)
Members' Equity—100.0%														58,150

(1)

(2)

Valued based on PSSL’s accounting policy.

(3)

(4)

Security currently on interest non-accrual status.

Below is a listing of PSSL’s individual investments as of September 30, 2022 (Par and $ in thousands):


Issuer Name	Maturity	Industry	Current Coupon			Basis Point Spread Above Index (1)	Par		Cost		Fair Value (2)
First Lien Secured Debt - 1,330.4%
Ad.net Acquisition, LLC	5/6/2026	Media		9.67	%	3M L+600		8,888	$	8,788	$	8,821
Alpine Acquisition Corp II	11/30/2026	Containers and Packaging		8.22	%	SOFR+600		9,975		9,790		9,576
Altamira Technologies, LLC	7/24/2025	Business Services		10.81	%	3M L+800		5,225		5,113		5,042
American Insulated Glass, LLC	12/21/2023	Building Products		7.79	%	3M L+550		4,883		4,851		4,883
Anteriad, LLC (f/k/a MeritDirect, LLC)	5/23/2024	Media: Advertising, Printing & Publishing		9.67	%	3M L+550		5,284		5,208		5,284
Any Hour Services	7/21/2027	Professional Services		8.33	%	3M L+525		3,510		3,441		3,440
Apex Service Partners, LLC	7/31/2025	Diversified Consumer Services		6.72	%	1M L+525		1,010		1,010		1,005
Apex Service Partners, LLC Term Loan B	7/31/2025	Diversified Consumer Services		9.67	%	3M L+625		2,202		2,202		2,191
Apex Service Partners, LLC Term Loan C	7/31/2025	Diversified Consumer Services		7.86	%	3M L+525		11,115		11,050		11,059
Applied Technical Services, LLC	12/29/2026	Commercial Services & Supplies		8.76	%	3M L+575		8,421		8,317		8,211
Arcfield Acquisition Corp.	3/7/2028	Aerospace and Defense		8.99	%	SOFR + 575		4,677		4,588		4,583
Beta Plus Technologies, Inc.	7/1/2029	Business Services		7.76	%	SOFR + 525		5,000		4,903		4,900
Blackhawk Industrial Distribution, Inc.	9/17/2024	Distributors		8.62	%	SOFR + 500		15,293		15,102		14,956
Broder Bros., Co.	12/2/2022	Consumer Products		7.39	%	3M L+600		2,417		2,417		2,417
By Light Professional IT Services, LLC	5/16/2024	High Tech Industries		9.20	%	1M L+662		14,822		14,771		14,674
Cadence Aerospace, LLC	11/14/2023	Aerospace and Defense		11.31	%	3M L+325		12,412		12,385		12,288
			(PIK 11.31%)
Cartessa Aesthetics, LLC	5/13/2028	Distributors		9.55	%	SOFR + 600		6,484		6,359		6,386
CF512, Inc.	8/20/2026	Media		9.08	%	3M L+600		4,950		4,866		4,876
CHA Holdings, Inc.	4/10/2025	Construction and Engineering		8.17	%	3M L+450		5,557		5,487		5,557
Challenger Performance Optimization, Inc.	8/31/2023	Business Services		9.27	%	1M L+575		9,271		9,247		8,993
			(PIK 1.00%)
Connatix Buyer, Inc.	7/13/2027	Media		8.42	%	3M L+550		3,907		3,842		3,810
Crane 1 Services, Inc.	8/16/2027	Commercial Services & Supplies		9.39	%	3M L+575		2,110		2,084		2,089
Douglas Products and Packaging Company LLC	10/19/2022	Chemicals, Plastics and Rubber		8.87	%	3M L+575		8,655		8,653		8,655
Douglas Sewer Intermediate, LLC	10/19/2022	Chemicals, Plastics and Rubber		8.87	%	3M L+575		7,248		7,246		7,248
Dr. Squatch, LLC	8/31/2027	Personal Products		9.42	%	3M L+575		14,862		14,610		14,639
DRI Holding Inc.	12/21/2028	Media		8.37	%	1M L+525		1,832		1,680		1,643
DRS Holdings III, Inc.	11/3/2025	Consumer Goods: Durable		8.87	%	1M L+575		15,179		15,103		14,693
Duraco Specialty Tapes LLC	6/30/2024	Containers and Packaging		8.62	%	1M L+550		10,278		10,151		10,031
ECL Entertainment, LLC	5/1/2028	Hotels, Restaurants and Leisure		10.62	%	3M L+750		2,621		2,598		2,581
ECM Industries, LLC	12/23/2025	Electronic Equipment, Instruments, and Components		7.82	%	3M L+475		4,974		4,974		4,738
Exigo Intermediate II, LLC	3/15/2027	Software		8.87	%	1M L+575		12,935		12,759		12,644
Fairbanks Morse Defense	6/17/2028	Aerospace and Defense		8.39	%	3M L+475		10,300		10,238		9,528
Gantech Acquisition Corp.	5/14/2026	IT Services		9.37	%	1M L+625		14,638		14,427		14,199
Global Holdings InterCo LLC	3/16/2026	Diversified Financial Services		8.74	%	3M L+600		3,904		3,888		3,728
Graffiti Buyer, Inc.	8/10/2027	Trading Companies & Distributors		9.17	%	3M L+550		2,369		2,320		2,274
Hancock Roofing and Construction L.L.C.	12/31/2026	Insurance		8.67	%	1M L+500		2,392		2,347		2,356
Holdco Sands Intermediate, LLC	11/23/2028	Aerospace and Defense		10.17	%	3M L+600		4,963		4,874		4,863
HW Holdco, LLC	12/10/2024	Media		6.00	%	6M L+575		3,052		3,006		3,014
Icon Partners III, LP	5/11/2028	Automobiles		7.55	%	3M L+450		2,327		1,997		1,701
IDC Infusion Services, Inc.	12/30/2026	Healthcare Equipment and Supplies		10.20	%	SOFR+700		9,950		9,833		9,502
Imagine Acquisitionco, LLC	11/15/2027	Software		8.42	%	1M L+550		5,364		5,261		5,230
Inception Fertility Ventures, LLC	12/7/2023	Healthcare Providers and Services		8.55	%	SOFR+700		16,620		16,309		16,454
Integrative Nutrition, LLC	9/29/2023	Diversified Consumer Services		8.42	%	3M L+475		11,187		11,168		10,963
Integrity Marketing Acquisition, LLC	8/27/2025	Insurance		7.58	%	1M L+550		5,966		5,885		5,906
ITI Holdings, Inc.	3/3/2028	IT Services		8.67	%	SOFR + 550		3,980		3,917		3,900
K2 Pure Solutions NoCal, L.P.	12/20/2023	Chemicals, Plastics and Rubber		11.12	%	1M L+800		19,250		19,103		19,250
Kinetic Purchaser, LLC	11/10/2027	Personal Products		9.67	%	3M L+600		16,830		16,451		16,494
Lash OpCo, LLC	2/18/2027	Personal Products		11.17	%	3M L+700		14,355		14,074		14,068
LAV Gear Holdings, Inc.	10/31/2024	Capital Equipment		9.70	%	3M L+550		10,578		10,539		10,335
			(PIK 2.00%)
Lightspeed Buyer Inc.	2/3/2026	Healthcare Providers and Services		9.04	%	3M L+575		10,598		10,428		10,254
Lucky Bucks, LLC	7/20/2027	Hotel, Gaming and Leisure		8.31	%	3M L+550		4,331		4,258		3,183
Magenta Buyer, LLC	7/31/2028	Software		7.87	%	1M L+475		2,695		2,539		2,425
Marketplace Events, LLC - Super Priority First Lien Term Loan	9/30/2025	Media: Diversified and Production		8.19	%	1M L+525		647		647		647
Marketplace Events, LLC - Super Priority First Lien Unfunded Term Loan (3)	9/30/2025	Media: Diversified and Production						589		-		-
Marketplace Events, LLC	9/30/2026	Media: Diversified and Production		8.19	%	1M L+525		4,837		3,527		4,837
Mars Acquisition Holdings Corp.	5/14/2026	Media		8.62	%	1M L+550		9,900		9,782		9,851
MBS Holdings, Inc.	4/16/2027	Internet Software and Services		8.56	%	3M L+575		7,406		7,296		7,332
MDI Buyer, Inc.	7/25/2028	Chemicals, Plastics and Rubber		8.98	%	3M L+500		5,000		4,902		4,900
Meadowlark Acquirer, LLC	12/10/2027	Professional Services		9.17	%	3M L+650		2,396		2,353		2,372
Mission Critical Electronics, Inc.	3/28/2024	Capital Equipment		8.70	%	SOFR+500		5,829		5,817		5,759
Municipal Emergency Services, Inc.	9/28/2027	Distributors		8.67	%	3M L+500		3,465		3,405		3,264
NBH Group LLC	8/19/2026	Healthcare, Education & Childcare		7.80	%	1M L+550		10,820		10,641		10,820
New Milani Group LLC	6/6/2024	Consumer Goods: Non-Durable		7.75	%	3M L+500		14,363		14,319		14,111
OIS Management Services, LLC	7/9/2026	Healthcare Equipment and Supplies		8.40	%	SOFR+475		5,060		4,991		5,060
One Stop Mailing, LLC	5/7/2027	Air Freight and Logistics		9.37	%	1M L+625		14,598		14,353		14,160
Output Services Group, Inc.	3/27/2024	Business Services		9.80	%	3M L+425		7,682		7,676		5,838
Owl Acquisition, LLC	2/4/2028	Professional Services		8.41	%	3M L+575		3,990		3,918		3,890
Ox Two, LLC	5/18/2026	Construction and Building		9.81	%	3M L+600		4,925		4,866		4,827
PH Beauty Holdings III, Inc.	9/29/2025	Wholesale		8.07	%	1M L+500		9,593		9,234		7,674
PL Acquisitionco, LLC	11/9/2027	Textiles, Apparel and Luxury Goods		9.62	%	1M L+650		8,238		8,111		8,032
Plant Health Intermediate, Inc.	10/19/2022	Chemicals, Plastics and Rubber		8.87	%	3M L+575		1,562		1,561		1,562
PlayPower, Inc.	5/8/2026	Consumer Goods: Durable		9.17	%	3M L+550		2,580		2,500		2,309
Pragmatic Institute, LLC	7/6/2028	Education		9.30	%	SOFR+575		11,250		11,056		11,138
Quantic Electronics, LLC	11/19/2026	Aerospace and Defense		8.41	%	1M L+625		4,845		4,755		4,729
Quantic Electronics, LLC - Unfunded Term Loan (3)	11/19/2026	Aerospace and Defense						1,888		-		-
Reception Purchaser, LLC	2/28/2028	Air Freight and Logistics		9.13	%	SOFR+600		4,975		4,904		4,751
Recteq, LLC	1/29/2026	Leisure Products		9.92	%	3M L+600		4,925		4,856		4,753
Research Now Group, LLC and Dynata, LLC	12/20/2024	Diversified Consumer Services		8.84	%	3M L+550		12,564		12,354		11,291

Below is a listing of PSSL’s individual investments as of September 30, 2022 (Par and $ in thousands)(continued):


Issuer Name	Maturity		Industry	Current Coupon			Basis Point Spread Above Index (1)		Par / Shares		Cost		Fair Value (2)
Sales Benchmark Index LLC	1/3/2025		Professional Services		9.67	%	3M L+600			5,013	$	4,960	$	4,963
Sargent & Greenleaf Inc.	12/20/2024		Wholesale		8.62	%	3M L+550			5,240		5,202		5,187
Schlesinger Global, Inc.	7/14/2025		Business Services		10.27	%	SOFR+500			11,847		11,829		11,551
				(PIK 0.50%)
Sigma Defense Systems, LLC	12/18/2025		Aerospace and Defense		12.17	%	1M L+850			14,716		14,411		14,421
Smile Brands Inc.	10/14/2025		Healthcare and Pharmaceuticals		7.05	%	3M L+450			11,917		11,807		11,470
Solutionreach, Inc.	1/17/2024		Healthcare and Pharmaceuticals		8.87	%	1M L+575			5,647		5,625		5,511
Spendmend Holdings LLC	3/1/2028		Healthcare Technology		8.63	%	SOFR+575			2,956		2,916		2,873
STV Group Incorporated	12/11/2026		Construction and Building		8.37	%	3M L+525			9,075		9,011		8,985
System Planning and Analysis, Inc. (f/k/a Management Consulting & Research, LLC)	8/16/2027		Aerospace and Defense		8.73	%	SOFR+600			14,888		14,623		14,649
Teneo Holdings LLC	7/18/2025		Business Services		8.38	%	3M L+625			2,786		2,757		2,623
The Aegis Technologies Group, LLC	10/31/2025		Aerospace and Defense		9.55	%	3M L+500			5,659		5,600		5,603
The Bluebird Group LLC	7/27/2026		Professional Services		10.67	%	1M L+700			1,707		1,679		1,724
The Infosoft Group, LLC	9/16/2024		Media: Broadcasting and Subscription		8.47	%	3M L+525			12,957		12,952		12,859
The Vertex Companies, LLC	8/30/2027		Construction and Engineering		8.62	%	1M L+550			5,578		5,479		5,550
TPC Canada Parent, Inc. and TPC US Parent, LLC	11/24/2025		Consumer Goods: Non-Durable		8.30	%	3M L+475			8,744		8,604		8,482
TVC Enterprises, LLC	3/26/2026		Diversified Consumer Services		8.87	%	3M L+550			14,952		14,871		14,578
TWS Acquisition Corporation	6/16/2025		Diversified Consumer Services		8.76	%	3M L+625			5,468		5,450		5,441
Tyto Athene, LLC (New Issue)	4/1/2028		IT Services		7.76	%	3M L+550			15,550		15,421		14,446
UBEO, LLC	4/3/2024		Capital Equipment		8.17	%	3M L+450			17,390		17,305		17,129
Unique Indoor Comfort, LLC	5/24/2027		Home and Office Furnishings, Housewares		8.95	%	SOFR+525			4,975		4,880		4,866
Walker Edison Furniture Company LLC	3/31/2027		Wholesale		12.42	%	3M L+575			12,684		12,438		8,473
				(PIK 3.0%)
Wildcat Buyerco, Inc.	2/27/2026		Electronic Equipment, Instruments, and Components		9.45	%	SOFR+550			8,546		8,506		8,261
Zips Car Wash, LLC	3/1/2024		Automobiles		10.35	%	3M L+725			16,957		16,711		16,536

Total First Lien Secured Debt												767,316		751,628
Second Lien Secured Debt - 5.2%


Inventus Power, Inc.	9/29/2024		Consumer Goods: Durable		12.17	%	3M L+850			3,000		2,963		2,955
Total Second Lien Secured Debt												2,963		2,955
Equity Securities - 0.3%
New MPE Holdings, LLC		—	Media: Diversified and Production		—			—		—		—		139
Total Equity Securities												—		139
Total Investments - 1,335.9%												770,280		754,722
Cash and Cash Equivalents - 53.4%
BlackRock Federal FD Institutional 30												30,152		30,152
Total Cash and Cash Equivalents												30,152		30,152
Total Investments and Cash Equivalents —1,389.26%											$	800,432	$	784,874
Liabilities in Excess of Other Assets — (1,289.26)%														(728,378	)
Members' Equity—100.0%													$	56,496

(1)

(2)

Valued based on PSSL’s accounting policy.

(3)

Below are the consolidated statements of assets and liabilities for PSSL (in thousands):




		September 30, 2023			September 30, 2022
Assets
Investments at fair value (amortized cost—$804,608 and $770,280, respectively)	$		785,859	$		754,722
Cash and cash equivalents (cost—$77,446 and $30,152, respectively)			77,446			30,152
Interest receivable			5,179			3,025
Receivable for investment sold			—			3,637
Prepaid expenses and other assets			490			1,722
Due from affiliate			436			3,553
Total assets			869,410			796,811
Liabilities
Credit facility payable			48,600			259,500
2032 Asset-backed debt, net (par—$246,000)			243,973			243,365
2035 Asset-backed debt, net (par—$246,000)			243,483			—
Notes payable to members			240,100			217,350
Interest payable on Credit facility and asset backed debt			14,291			3,817
Payable for investments purchased			13,466			10,414
Interest payable on notes to members			6,488			4,719
Accrued expenses			859			1,150
Total liabilities			811,260			740,315
Commitments and contingencies
Members' equity			58,150			56,496
Total liabilities and members' equity	$		869,410	$		796,811

(1)

As of both September 30, 2023 and 2022, PSSL had $2.5 million and $0.6 million unfunded commitments to fund investments, respectively.

Below are the consolidated statements of operations for PSSL (in thousands):



	Year Ended September 30,
	2023			2022
Investment income:
Interest	$	89,547		$	53,006
Other income		1,297			1,188
Total investment income		90,844			54,194
Expenses:
Interest and expense on credit facility and asset-backed debt		42,797			18,410
Interest expense on notes to members		30,325			17,468
Administration fees		2,103			1,835
General and administrative expenses		1,116			1,156
Total expenses		76,341			38,869
Net investment income		14,503			15,325
Realized and unrealized gain (loss) on investments:
Net realized gain (loss) on investments		(6,328	)		(14,948	)
Net change in unrealized appreciation (depreciation) on investments		(3,171	)		(3,695	)
Net realized and unrealized gain (loss) on investments		(9,499	)		(18,643	)
Net increase (decrease) in members' equity resulting from operations	$	5,004		$	(3,318	)

(1)

No management or incentive fees are payable by PSSL. If any fees were to be charged, they would be separately disclosed in the Statements of Operations.

Cash and Cash Equivalents

12 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

9. CASH AND CASH EQUIVALENTS

Cash equivalents represent cash in money market funds pending investment in longer-term portfolio holdings. Our portfolio may consist of temporary investments in U.S. Treasury Bills (of varying maturities), repurchase agreements, money market funds or repurchase agreement-like treasury securities. These temporary investments with original maturities of 90 days or less are deemed cash equivalents and are included in the Consolidated Schedule of Investments. At the end of each fiscal quarter, we may take proactive steps to preserve investment flexibility for the next quarter by investing in cash equivalents, which is dependent upon the composition of our total assets at quarter-end. We may accomplish this in several ways, including purchasing U.S. Treasury Bills and closing out positions on a net cash basis after quarter-end, temporarily drawing down on the Credit Facility, or utilizing repurchase agreements or other balance sheet transactions as are deemed appropriate for this purpose. These amounts are excluded from average adjusted gross assets for purposes of computing the Investment Adviser’s management fee. U.S. Treasury Bills with maturities greater than 60 days from the time of purchase are valued consistent with our valuation policy. As of September 30, 2023 and 2022, cash and cash equivalents consisted of money market funds in the amounts of $100.6 million and $51.5 million at fair value, respectively.

Financial Highlights - Summary of Financial Highlights (Details) (Parenthetical) $ in Thousands	Sep. 30, 2023 USD ($)
Investment Company, Financial Highlights [Abstract]
Amount used to multiply asset coverage ratio to determine the asset coverage per unit	$ 1,000

Fair Value of Financial Instruments - Summary of Unobservable Inputs and Ranges (Details) - Level 3
$ in Thousands

Sep. 30, 2023

USD ($)

Sep. 30, 2022

USD ($)

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 1,006,948

$ 1,104,927

Long-Term Credit Facility | Market Comparable | Market Yield

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 85,619

$ 167,563

Range of Input

^[1]

0.023

0.025

Equity | Enterprise Market Value | EBITDA Multiple

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 100,489

$ 89,906

Equity | Enterprise Market Value | EBITDA Multiple | Minimum

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.034

0.033

Equity | Enterprise Market Value | EBITDA Multiple | Maximum

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.077

0.214

Equity | Enterprise Market Value | EBITDA Multiple | Weighted Average

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.121

0.125

Equity | Enterprise Market Value | Discount for Lack of Marketability

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 144

$ 5,232

Range of Input

^[1]

0.279

0.118

First lien | Market Comparable | Broker/Dealer Bids or Quotes

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 25,521

$ 70,363

First lien | Market Comparable | Market Yield

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 875,133

$ 930,806

First lien | Market Comparable | Market Yield | Minimum

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.10

0.082

First lien | Market Comparable | Market Yield | Maximum

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.25

0.21

First lien | Market Comparable | Market Yield | Weighted Average

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.126

0.109

First lien | Enterprise Market Value | EBITDA Multiple

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 5,512

$ 8,473

Range of Input

^[1]

0.14

First lien | Enterprise Market Value | EBITDA Multiple | Minimum

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.028

First lien | Enterprise Market Value | EBITDA Multiple | Maximum

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.075

First lien | Enterprise Market Value | EBITDA Multiple | Weighted Average

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Range of Input

^[1]

0.074

Second lien | Market Comparable | Market Yield

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 149

$ 147

Range of Input

^[1]

0.148

0.147

Second lien | Enterprise Market Value | EBITDA Multiple

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair value

$ 0

Range of Input

^[1]

0.06

[1]	The weighted averages disclosed in the table above were weighted by their relative fair value

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Investments - Summary of PSSL's Portfolio at Fair Value (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2023 USD ($) Portfolio	Sep. 30, 2022 USD ($) Portfolio
Schedule Of Investments [Line Items]
Fair Value	$ 1,067,174	$ 1,164,254
PennantPark Senior Secured Loan Fund I LLC
Schedule Of Investments [Line Items]
Fair Value	$ 785,859	$ 754,722
Weighted average cost yield on income producing investments	12.10%	9.60%
Number of portfolio companies \| Portfolio	105	95
Largest portfolio company investment	$ 18,463	$ 19,250
Total of five largest portfolio company investments	$ 83,365	$ 86,872

- Definition

Fair value of investment in security owned.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Taxes and Distributions - Summary of Reconciles Net (Decrease) Increase in Net Assets Resulting from Operations to Taxable Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Net Income (Loss)	$ 39,261	$ 3,453	$ 56,516
Net realized loss on investments	16,155	11,106	12,796
Net change in unrealized depreciation (appreciation) on investments and debt	12,075	34,023	(29,686)
Other book-to-tax differences	(5,081)	(549)	3,153
Other non-deductible expenses	1,924	993	846
Taxable income before dividends paid deduction	$ 64,334	$ 49,026	$ 43,625

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Sep. 30, 2023	Dec. 07, 2023	Mar. 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--09-30
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	814-00891
Entity Registrant Name	PENNANTPARK FLOATING RATE CAPITAL LTD.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-3794690
Entity Address, Address Line One	1691 Michigan Avenue
Entity Address, City or Town	Miami Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33139
City Area Code	786
Local Phone Number	297-9500
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	PFLT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 514.8
Entity Common Stock, Shares Outstanding		58,734,702
Entity Central Index Key	0001504619
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	true
Auditor Name	RSM US LLP
Auditor Location	New York, New York
Auditor Firm ID	49
Documents Incorporated by Reference	Documents Incorporated by Reference: Portions of the Registrant’s Proxy Statement relating to the Registrant’s 2024 Annual Meeting of Stockholders to be filed not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference into Part III of this Report.

Change in Net Assets From Operations Per Common Share (Tables)

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Summary of Information Sets Forth for Computation of Basic and Diluted Per Share Net Increase (decrease) in Net Assets Resulting from Operations

The following information sets forth the computation of basic and diluted per share net increase (decrease) in net assets resulting from operations:


	Years Ended September 30,
	2023		2022		2021
Numerator for net increase in net assets resulting from operations	$	39,261	$	3,453	$	56,516
Denominator for basic and diluted weighted average shares		50,832,980		41,060,541		38,766,831
Basic and diluted net increase in net assets per share resulting from operations	$	0.77	$	0.08	$	1.46

Investments - Summary of Listing of PSSL's Individual Investments (Details)
$ in Thousands, $ in Thousands

12 Months Ended

Sep. 30, 2023

USD ($)

Sep. 30, 2022

AUD ($)

Sep. 30, 2022

USD ($)

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[1],[2],[3]

Cost

$ 1,092,878

$ 1,177,357

Fair Value

1,067,174

1,164,254

Investment, Identifier [Axis]: Cash and Cash Equivalents—15.3%, Money Market - BlackRock Federal FD Institutional 30

Schedule Of Investments [Line Items]

Cost

100,555

^[2],[3]

Fair Value

100,555

^[2],[3],[4]

Investment, Identifier [Axis]: Cash and Cash Equivalents—9.1% BNY Mellon Cash

Schedule Of Investments [Line Items]

Cost

13,243

^[5],[6]

Fair Value

13,279

^[5],[6],[7]

Investment, Identifier [Axis]: Cash and Cash Equivalents—9.1% BlackRock Federal FD Institutional 30

Schedule Of Investments [Line Items]

Cost

38,209

^[5],[6]

Fair Value

38,209

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, Equity Interests—8.3% Total

Schedule Of Investments [Line Items]

Cost

90,038

^[2],[3]

Fair Value

$ 54,556

^[2],[3],[4]

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

^{[2],[3],[8],[9]}

Par / Shares

$ 349

^{[2],[3],[8],[9]}

Fair Value

$ 3,675

^{[2],[3],[4],[8],[9]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, Equity Interests—8.3%, PennantPark Senior Secured Loan Fund I LLC, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[1],[2],[3],[9],[10]}

Par / Shares

$ 90,038

^{[1],[2],[3],[9],[10]}

Cost

90,038

^{[1],[2],[3],[9],[10]}

Fair Value

50,881

^{[1],[2],[3],[4],[9],[10]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—45.1%, First Lien Secured Debt—36.8% Total

Schedule Of Investments [Line Items]

Cost

234,601

^[2],[3]

Fair Value

$ 240,440

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^{[1],[2],[3],[9]}

Industry

Media: Diversified and Production

^{[1],[2],[3],[9]}

Par / Shares

$ 3,261

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^[2],[3],[9]

Industry

Media: Diversified and Production

^[2],[3],[9]

Current Coupon

10.94%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+550

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

550.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 3,582

^[2],[3],[9]

Cost

3,582

^[2],[3],[9]

Fair Value

$ 3,582

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

^[2],[3]

Industry

Media: Diversified and Production

^[2],[3]

Current Coupon

10.94%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 26,771

^[2],[3]

Cost

20,931

^[2],[3]

Fair Value

$ 26,770

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 06, 2024

^{[1],[2],[3],[9],[10]}

Industry

Financial Services

^{[1],[2],[3],[9],[10]}

Current Coupon

13.33%

^{[1],[2],[3],[9],[10]}

Basis point spread above index, Percentage

3M SOFR+800

^{[1],[2],[3],[9],[10],[11]}

Basis point spread above index, Amount

800.00%

^{[1],[2],[3],[9],[10],[11]}

Par / Shares

$ 210,088

^{[1],[2],[3],[9],[10]}

Cost

210,088

^{[1],[2],[3],[9],[10]}

Fair Value

$ 210,088

^{[1],[2],[3],[4],[9],[10]}

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

^{[5],[6],[12],[13]}

Par / Shares

349

^{[5],[6],[12],[13]}

Fair Value

1,036

^{[5],[6],[7],[12],[13]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Equity Interests—9.6% PennantPark Senior Secured Loan Fund I LLC, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[5],[6],[13],[14],[15]}

Par / Shares

81,506

^{[5],[6],[13],[14],[15]}

Cost

81,506

^{[5],[6],[13],[14],[15]}

Fair Value

49,434

^{[5],[6],[7],[13],[14],[15]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Equity Interests—9.6% Total

Schedule Of Investments [Line Items]

Cost

81,506

^[5],[6]

Fair Value

$ 50,470

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^[5],[6],[13]

Sep. 30, 2025

^[5],[6],[13]

Industry

Media: Diversified and Production

^[5],[6],[13]

Current Coupon

8.19%

^[5],[6],[13]

8.19%

^[5],[6],[13]

Basis point spread above index, Percentage

5.25

^[5],[6]

Basis point spread above index, Amount

525.00%

^{[5],[6],[13],[16]}

525.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 3,582

^[5],[6],[13]

Basis Point Spread Above Index

3M L+525

^{[5],[6],[13],[16]}

Cost

3,582

^[5],[6],[13]

Fair Value

$ 3,582

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Marketplace Events, LLC - Super Priority First Lien, Maturity 09/30/2025, Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^{[5],[6],[13],[14]}

Sep. 30, 2025

^{[5],[6],[13],[14]}

Industry

Media: Diversified and Production

^{[5],[6],[13],[14]}

Par / Shares

$ 3,261

^{[5],[6],[13],[14]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Marketplace Events, LLC - Super Priority First Lien, Maturity 09/30/2025, Industry Media: Diversified and Production, Current Coupon 8.19%, Basis Point Spread Above Index 3M L+525

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

^[5],[6]

Sep. 30, 2026

^[5],[6]

Industry

Media: Diversified and Production

^[5],[6]

Current Coupon

8.19%

^[5],[6]

8.19%

^[5],[6]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 26,771

^[5],[6]

Basis Point Spread Above Index

3M L+525

^[5],[6],[16]

Cost

19,518

^[5],[6]

Fair Value

$ 26,771

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 06, 2024

^{[5],[6],[13],[14],[15]}

May 06, 2024

^{[5],[6],[13],[14],[15]}

Industry

Financial Services

^{[5],[6],[13],[14],[15]}

Current Coupon

10.71%

^{[5],[6],[13],[14],[15]}

10.71%

^{[5],[6],[13],[14],[15]}

Basis point spread above index, Amount

800.00%

^{[5],[6],[13],[14],[15],[16]}

800.00%

^{[5],[6],[13],[14],[15],[16]}

Par / Shares

$ 190,181

^{[5],[6],[13],[14],[15]}

Basis Point Spread Above Index

3M L+800

^{[5],[6],[13],[14],[15],[16]}

Cost

190,181

^{[5],[6],[13],[14],[15]}

Fair Value

190,182

^{[5],[6],[7],[13],[14],[15]}

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% First Lien Secured Debt—41.8% Total

Schedule Of Investments [Line Items]

Cost

213,281

^[5],[6]

Fair Value

220,535

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Controlled, Affiliated Portfolio Companies—51.4% Total

Schedule Of Investments [Line Items]

Cost

294,787

^[5],[6]

Fair Value

$ 271,005

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Control Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7% CF512,Inc (Revolver) Maturity Date 08/20/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^{[5],[6],[13],[14]}

Aug. 20, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 955

^{[5],[6],[13],[14]}

Fair Value

$ (14)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Industry

Chemicals, Plastics and Rubber

^[5],[6],[14]

Schedule Of Investments [Line Items]

Industry

IT Services

^[5],[6]

Current Coupon

9.37%

^[5],[6]

9.37%

^[5],[6]

Basis point spread above index, Percentage

1M L+625

^[5],[6],[16]

Basis point spread above index, Amount

625.00%

^[5],[6],[16]

625.00%

^[5],[6],[16]

Par / Shares

$ 249

^[5],[6]

Cost

249

^[5],[6]

Fair Value

$ 241

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

^[5],[6]

Feb. 18, 2027

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

11.17%

^[5],[6]

11.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 10,511

^[5],[6]

Cost

10,323

^[5],[6]

Fair Value

10,300

^[5],[6]

Schedule Of Investments [Line Items]

Par / Shares

3,425

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% First Lien Secured Debt - 149.7%

Schedule Of Investments [Line Items]

Cost

815,742

Fair Value

$ 789,107

^[7]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[5],[6]

Nov. 09, 2027

^[5],[6]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6]

Current Coupon

9.62%

^[5],[6]

9.62%

^[5],[6]

Basis point spread above index, Percentage

3M L+650

^[5],[6]

Basis point spread above index, Amount

650.00%

^[5],[6]

650.00%

^[5],[6]

Par / Shares

$ 6,110

^[5],[6]

Cost

6,015

^[5],[6]

Fair Value

$ 5,958

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

Industry

Construction & Engineering

Current Coupon

8.37%

Basis point spread above index, Percentage

1M L+525

^[16]

Basis point spread above index, Amount

525.00%

^[16]

525.00%

^[16]

Par / Shares

$ 4,752

Cost

4,718

Fair Value

$ 4,704

^[7]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[14]

Mar. 01, 2028

^[14]

Industry

Healthcare Technology

^[14]

Basis point spread above index, Percentage

—

^[14],[16]

Par / Shares

$ 772

^[14]

Fair Value

$ (22)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

8.63%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 119

Cost

119

Fair Value

$ 116

^[7]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2023

^[14]

Mar. 01, 2023

^[14]

Industry

Healthcare Technology

^[14]

Par / Shares

$ 1,771

^[14]

Fair Value

$ (36)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

8.63%

Basis point spread above index, Percentage

SOFR + 575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 3,216

Cost

3,179

Fair Value

$ 3,126

^[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Par / Shares

$ 5,188

Fair Value

$ (83)

^[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Current Coupon

8.73%

Basis point spread above index, Percentage

SOFR+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 18,560

Cost

18,237

Fair Value

$ 18,263

^[7]

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

^[14],[15]

Nov. 24, 2025

^[14],[15]

Industry

Food Products

^[14],[15]

Current Coupon

7.78%

^[14],[15]

7.78%

^[14],[15]

Basis point spread above index, Percentage

3M L+550

^{[14],[15],[16]}

Basis point spread above index, Amount

550.00%

^{[14],[15],[16]}

550.00%

^{[14],[15],[16]}

Par / Shares

$ 4,863

^[14],[15]

Cost

4,834

^[14],[15]

Fair Value

$ 4,717

^{[7],[14],[15]}

Schedule Of Investments [Line Items]

Maturity

Mar. 26, 2026

^[13],[14]

Mar. 26, 2026

^[13],[14]

Industry

Commercial Services & Supplies

^[13],[14]

Par / Shares

$ 661

^[13],[14]

Fair Value

$ (17)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Mar. 26, 2026

Industry

Commercial Services & Supplies

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 24,721

Cost

24,378

Fair Value

$ 24,103

^[7]

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

^[13],[14]

Jun. 16, 2025

^[13],[14]

Industry

Diversified Consumer Services

^[13],[14]

Par / Shares

$ 2,628

^[13],[14]

Fair Value

$ (13)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

Industry

Diversified Consumer Services

Current Coupon

8.76%

Basis point spread above index, Percentage

1M L+625

^[16]

Basis point spread above index, Amount

625.00%

^[16]

625.00%

^[16]

Par / Shares

$ 5,468

Cost

5,398

Fair Value

$ 5,441

^[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

Industry

Diversified Financial Services

Current Coupon

8.38%

Basis point spread above index, Percentage

1M L+525

^[16]

Basis point spread above index, Amount

525.00%

^[16]

525.00%

^[16]

Par / Shares

$ 5,793

Cost

5,718

Fair Value

$ 5,455

^[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

Industry

Aerospace and Defense

Current Coupon

9.55%

Basis point spread above index, Percentage

3M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 4,921

Cost

4,868

Fair Value

$ 4,872

^[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

^[13],[14]

Jul. 27, 2026

^[13],[14]

Industry

Professional Services

^[13],[14]

Par / Shares

$ 862

^[13],[14]

Fair Value

$ 9

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

Industry

Professional Services

Current Coupon

10.67%

Basis point spread above index, Percentage

3M L+700

^[16]

Basis point spread above index, Amount

700.00%

^[16]

700.00%

^[16]

Par / Shares

$ 6,265

Cost

6,162

Fair Value

$ 6,328

^[7]

Schedule Of Investments [Line Items]

Maturity

Sep. 16, 2024

Industry

Media: Broadcasting and Subscription

Current Coupon

8.51%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 15,229

Cost

15,120

Fair Value

$ 15,115

^[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[13],[14]

Aug. 30, 2027

^[13],[14]

Industry

Construction & Engineering

^[13],[14]

Par / Shares

$ 729

^[13],[14]

Fair Value

$ (4)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

Industry

Construction & Engineering

Current Coupon

8.26%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 182

Cost

182

Fair Value

$ 181

^[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[13],[14]

Aug. 30, 2027

^[13],[14]

Industry

Construction & Engineering

^[13],[14]

Par / Shares

$ 573

^[13],[14]

Fair Value

$ 3

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[13]

Aug. 30, 2027

^[13]

Industry

Construction & Engineering

^[13]

Current Coupon

8.18%

^[13]

8.18%

^[13]

Basis point spread above index, Percentage

1M L+550

^[13],[16]

Basis point spread above index, Amount

550.00%

^[13],[16]

550.00%

^[13],[16]

Par / Shares

$ 2,159

^[13]

Cost

2,122

^[13]

Fair Value

$ 2,148

^[7],[13]

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2026

^[13],[14]

Apr. 01, 2026

^[13],[14]

Industry

IT Services

^[13],[14]

Par / Shares

$ 1,040

^[13],[14]

Fair Value

$ (74)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

Industry

IT Services

Current Coupon

7.76%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 12,644

Cost

12,487

Fair Value

$ 11,746

^[7]

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

^[14]

Apr. 03, 2024

^[14]

Industry

Capital Equipment

^[14]

Par / Shares

$ 2,347

^[14]

Fair Value

$ (35)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

Industry

Capital Equipment

Current Coupon

9.00%

Basis point spread above index, Percentage

3M L+275

^[16]

Basis point spread above index, Amount

275.00%

^[16]

275.00%

^[16]

Par / Shares

$ 587

Cost

587

Fair Value

$ 578

^[7]

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

Industry

Capital Equipment

Current Coupon

7.60%

Basis point spread above index, Percentage

3M L+450

^[16]

Basis point spread above index, Amount

450.00%

^[16]

450.00%

^[16]

Par / Shares

$ 17,926

Cost

17,860

Fair Value

$ 17,657

^[7]

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

^[13],[14]

May 24, 2027

^[13],[14]

Industry

Diversified Consumer Services

^[13],[14]

Par / Shares

$ 2,000

^[13],[14]

Fair Value

$ (44)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

Industry

Diversified Consumer Services

Current Coupon

8.95%

Basis point spread above index, Percentage

3M L + 525

^[16]

Basis point spread above index, Amount

525.00%

^[16]

525.00%

^[16]

Par / Shares

$ 9,217

Cost

9,126

Fair Value

$ 9,014

^[7]

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

^[13]

May 24, 2027

^[13]

Industry

Diversified Consumer Services

^[13]

Par / Shares

$ 10,760

^[13]

Fair Value

$ (129)

^[7],[13]

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

12.42%

Basis point spread above index, Percentage

1M L+875

^[16]

Basis point spread above index, Amount

875.00%

^[16]

875.00%

^[16]

Par / Shares

$ 12,684

Cost

12,434

Fair Value

$ 8,474

^[7]

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

9.38%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 9,853

Cost

9,717

Fair Value

$ 9,532

^[7]

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

^[14]

Feb. 27, 2026

^[14]

Industry

Electronic Equipment, Instruments, and Components

^[14]

Par / Shares

$ 534

^[14]

Fair Value

$ (34)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

Industry

Automobiles

Current Coupon

10.30%

Basis point spread above index, Percentage

3M L+725

^[16]

Basis point spread above index, Amount

725.00%

^[16]

725.00%

^[16]

Par / Shares

$ 13,428

Cost

13,284

Fair Value

13,092

^[7]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Preferred Equity— 1.6% Ad.net Holdings, Inc. Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^[12],[13]

Par / Shares

6,720

^[12],[13]

Cost

672

^[12],[13]

Fair Value

747

^[12],[13]

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Preferred Equity— 1.6% Cartessa Aesthetics, LLC Industry Distributors

Schedule Of Investments [Line Items]

Distributors

1,437,500

1,438

$ 1,499

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Preferred Equity— 1.6% Imagine Topco, LP Industry Software Current Coupon 8.00%

Schedule Of Investments [Line Items]

Software

8.00%

$ 1,236,027

1,236

1,170

Investment, Identifier [Axis]: Investments in Non-Control, Non-Affiliate Portfolio Companies—169.5% Second Lien Secured Debt—0%

Schedule Of Investments [Line Items]

Cost

1,113

Fair Value

$ 147

^[7]

Schedule Of Investments [Line Items]

Maturity

Apr. 23, 2025

^[13]

Apr. 23, 2025

^[13]

Industry

Media: Advertising, Printing and Publishing

^[13]

Current Coupon

0.00%

^[13],[17]

0.00%

^[13],[17]

Par / Shares

$ 1,001

^[13]

Cost

$ 965

^[13]

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2027

Industry

Aerospace and Defense

Current Coupon

12.68%

Basis point spread above index, Percentage

3M L+1,000

^[16]

Basis point spread above index, Amount

1000.00%

^[16]

1000.00%

^[16]

Par / Shares

$ 150

Cost

148

Fair Value

$ 147

^[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[5],[6],[13]

Oct. 31, 2024

^[5],[6],[13]

Industry

Capital Equipment

^[5],[6],[13]

Current Coupon

9.95%

^[5],[6],[13]

9.95%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+750

^[5],[6],[13]

Basis point spread above index, Amount

750.00%

^[5],[6],[13]

750.00%

^[5],[6],[13]

Par / Shares

$ 1,721

^[5],[6],[13]

Cost

1,721

^[5],[6],[13]

Fair Value

$ 1,681

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^{[5],[6],[13],[14]}

Aug. 16, 2026

^{[5],[6],[13],[14]}

Industry

Personal Products

^{[5],[6],[13],[14]}

Par / Shares

$ 1,321

^[5],[6],[13]

Fair Value

(26)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Industry

Software

^[14]

Cost

2,758

^[14]

Fair Value

$ (41)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2024

^[14]

Mar. 15, 2024

^[14]

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^{[5],[6],[13],[14]}

Dec. 31, 2026

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^{[5],[6],[13],[14],[15]}

Oct. 05, 2023

^{[5],[6],[13],[14],[15]}

Industry

Banking, Finance, Insurance & Real Estate

^{[5],[6],[13],[14],[15]}

Par / Shares

$ 2,500

^{[5],[6],[13],[14],[15]}

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Par / Shares

$ 5,188

^[1]

Fair Value

$ (57)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 375

^{[1],[2],[3],[9]}

Fair Value

$ (12)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 13, 2029

^[2],[3]

Industry

Chemicals, Plastics and Rubber

^[2],[3]

Current Coupon

11.54%

^[2],[3]

Basis point spread above index, Percentage

615

^{[3],[11],[18]}

Par / Shares

$ 1,921

^[2],[3]

Basis Point Spread Above Index

3M SOFR+615

^{[2],[3],[11],[18]}

Cost

$ 1,895

^[2],[3]

Fair Value

$ 1,863

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^{[1],[2],[3],[9]}

Industry

IT Services

^{[1],[2],[3],[9]}

Par / Shares

$ 786

^[2],[3]

Fair Value

$ (12)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

^[1],[2],[3]

Industry

Commercial Services & Supplies

^[1],[2],[3]

Par / Shares

$ 1,747

^[1],[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% Signature Systems Holding Company Maturity 05/03/2024 Industry Commercial Services & Supplies Current Coupon 12.04% Basis Point Spread Above Index 1M L+665

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

12.04%

^[2],[3]

Basis point spread above index, Percentage

665

^{[3],[11],[18]}

Par / Shares

$ 9,708

^[2],[3]

Basis Point Spread Above Index

1M L+665

^{[2],[3],[11],[18]}

Cost

$ 9,688

^[2],[3]

Fair Value

$ 9,708

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 17, 2028

^[2],[3]

Industry

Business Services

^[2],[3]

Current Coupon

9.93%

^[2],[3]

Basis point spread above index, Percentage

450

^{[3],[11],[18]}

Par / Shares

$ 600

^[2],[3]

Basis Point Spread Above Index

1M SOFR+450

^{[2],[3],[11],[18]}

Cost

$ 588

^[2],[3]

Fair Value

$ 587

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare and Pharmaceuticals

^{[1],[2],[3],[9]}

Current Coupon

10.11%

^[2],[3]

Basis point spread above index, Percentage

450

^{[3],[11],[18]}

Par / Shares

$ 1,508

^[2],[3]

Basis Point Spread Above Index

1M SOFR+450

^{[3],[11],[18]}

Cost

$ 1,508

^[2],[3]

Fair Value

$ 1,355

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare and Pharmaceuticals

^{[1],[2],[3],[9]}

Par / Shares

$ 108

^{[1],[2],[3],[9]}

Fair Value

$ (11)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

^[2],[3]

Industry

Healthcare and Pharmaceuticals

^[2],[3]

Current Coupon

9.97%

^[2],[3]

Basis point spread above index, Percentage

450

^{[3],[11],[18]}

Par / Shares

$ 2,437

^[2],[3]

Basis Point Spread Above Index

3M SOFR+450

^{[2],[3],[11],[18]}

Cost

$ 2,437

^[2],[3]

Fair Value

$ 2,190

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

^{[1],[2],[3],[9]}

Industry

Healthcare Technology

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

12.37%

^[2],[3]

Basis point spread above index, Percentage

700

^{[3],[11],[18]}

Par / Shares

$ 4,657

^[2],[3]

Basis Point Spread Above Index

1M SOFR+700

^{[2],[3],[11],[18]}

Cost

$ 4,650

^[2],[3]

Fair Value

$ 4,638

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

11.03%

^[2],[3]

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Par / Shares

$ 357

^[2],[3]

Basis Point Spread Above Index

1M SOFR+565

^{[2],[3],[11],[18]}

Cost

$ 357

^[2],[3]

Fair Value

$ 349

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

^[1],[2],[3]

Industry

Healthcare Technology

^[1],[2],[3]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

11.03%

^[2],[3]

Basis point spread above index, Amount

565.00%

^{[2],[3],[11],[18]}

Par / Shares

$ 2,061

^[2],[3]

Basis Point Spread Above Index

SOFR + 565

^{[2],[3],[11],[18]}

Cost

$ 2,037

^[2],[3]

Fair Value

$ 2,016

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

11.49%

^[2],[3]

Basis point spread above index, Percentage

^{[3],[11],[18]}

Par / Shares

$ 18,373

^[2],[3]

Basis Point Spread Above Index

6M SOFR+615

^{[3],[11],[18]}

Cost

$ 18,109

^[2],[3]

Fair Value

$ 18,171

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

^{[2],[3],[10],[18]}

Industry

Food Products

^{[2],[3],[10],[18]}

Current Coupon

10.90%

^{[2],[3],[10],[18]}

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Par / Shares

$ 4,813

^{[2],[3],[10],[18]}

Basis Point Spread Above Index

3M SOFR+565

^{[2],[3],[10],[11],[18]}

Cost

$ 4,793

^{[2],[3],[10],[18]}

Fair Value

$ 4,813

^{[2],[3],[4],[10],[18]}

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

^{[1],[2],[3],[9]}

Industry

Diversified Consumer Services

^{[1],[2],[3],[9]}

Par / Shares

$ 2,628

^{[1],[2],[3],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% TWS Acquisition Corporation Maturity 06/16/2025 Industry Diversified Consumer Services Current Coupon 11.81% Basis Point Spread Above Index 3M SOFR+640

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

11.81%

^[2],[3]

Basis point spread above index, Percentage

640

^{[3],[11],[18]}

Par / Shares

$ 4,316

^[2],[3]

Basis Point Spread Above Index

3M SOFR+640

^{[2],[3],[11],[18]}

Cost

$ 4,280

^[2],[3]

Fair Value

$ 4,316

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

^[2],[3]

Industry

Diversified Financial Services

^[2],[3]

Current Coupon

10.67%

^[2],[3]

Basis point spread above index, Percentage

535

^{[3],[11],[18]}

Par / Shares

$ 5,733

^[2],[3]

Basis Point Spread Above Index

1M SOFR+535

^{[2],[3],[11],[18]}

Cost

$ 5,683

^[2],[3]

Fair Value

$ 5,725

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

12.04%

^[2],[3]

Basis point spread above index, Percentage

665

^{[3],[11],[18]}

Par / Shares

$ 5,421

^[2],[3]

Basis Point Spread Above Index

3M SOFR+665

^{[2],[3],[11],[18]}

Cost

$ 5,374

^[2],[3]

Fair Value

$ 5,340

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 28, 2026

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 862

^[1],[9]

Fair Value

$ (3)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 28, 2026

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

12.79%

^[2],[3]

Basis point spread above index, Percentage

740

^{[3],[11],[18]}

Par / Shares

$ 2,368

^[2],[3]

Basis Point Spread Above Index

3M SOFR+740

^{[2],[3],[11],[18]}

Cost

$ 2,331

^[2],[3]

Fair Value

$ 2,359

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^{[1],[2],[3],[9]}

Industry

Construction & Engineering

^{[1],[2],[3],[9]}

Par / Shares

$ 606

^{[1],[2],[3],[9]}

Fair Value

$ (5)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

11.67%

^[2],[3]

Basis point spread above index, Percentage

635

^{[3],[11],[18]}

Par / Shares

$ 305

^[2],[3]

Basis Point Spread Above Index

1M SOFR+635

^{[2],[3],[11],[18]}

Cost

$ 305

^[2],[3]

Fair Value

$ 303

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 111.8% First Lien Senior Secured Debt - 101.9% The Vertex Companies, LLC Maturity 08/30/2027 Industry Construction & Engineering Current Coupon 11.67% Basis Point Spread Above Index 1M SOFR+635

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

^[2],[3],[9]

Industry

Construction & Engineering

^[2],[3],[9]

Current Coupon

11.67%

^[2],[3],[9]

Basis point spread above index, Percentage

635

^{[3],[11],[18]}

Par / Shares

$ 1,979

^[2],[3],[9]

Basis Point Spread Above Index

1M SOFR+635

^{[2],[3],[9],[11],[18]}

Cost

$ 1,949

^[2],[3],[9]

Fair Value

$ 1,961

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2026

^{[1],[2],[3],[9]}

Industry

IT Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,040

^{[1],[2],[3],[9]}

Fair Value

$ (94)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

^[2],[3]

Industry

IT Services

^[2],[3]

Current Coupon

10.90%

^[2],[3]

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Par / Shares

$ 11,928

^[2],[3]

Basis Point Spread Above Index

3M SOFR+565

^{[2],[3],[11],[18]}

Cost

$ 11,803

^[2],[3]

Fair Value

$ 10,879

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,293

^[1],[9]

Fair Value

$ (7)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sales Benchmark Index LLC Maturity 01/03/2025 Industry Professional Services Current Coupon 11.59% Basis Point Spread Above Index 3M SOGR+620

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.59%

^[2],[3]

Basis point spread above index, Percentage

620

^{[3],[11],[18]}

Par / Shares

$ 2,596

^[2],[3]

Basis Point Spread Above Index

3M SOFR+620

^{[3],[11],[18]}

Cost

$ 2,581

^[2],[3]

Fair Value

$ 2,583

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

12.07%

^[2],[3]

Basis point spread above index, Percentage

715

^{[3],[11],[18]}

Par / Shares

$ 14,490

^[2],[3]

Basis Point Spread Above Index

3M SOFR + 715

^{[2],[3],[11],[18]}

Cost

$ 14,428

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sargent & Greenleaf Inc. (Revolver) Maturity 12/20/2024 Industry Electronic Equipment, Instruments, and Components Current Coupon 12.07 Basis Point Spread Above Index 1M SOFR+715

Schedule Of Investments [Line Items]

Fair Value

$ 14,019

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sargent & Greenleaf Inc. (Revolver) Maturity 12/20/2024 Industry Electronic Equipment, Instruments, and Components Current Coupon 12.92% Basis Point Spread Above Index 1M SOFR+760

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

12.92%

^[2],[3]

Basis point spread above index, Percentage

760

^{[3],[11],[18]}

Par / Shares

$ 280

^[2],[3]

Basis Point Spread Above Index

1M SOFR+760

^{[2],[3],[11],[18]}

Cost

$ 280

^[2],[3]

Fair Value

$ 277

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

12.93%

^[2],[3]

Basis point spread above index, Percentage

760

^{[1],[3],[9],[11],[18]}

Par / Shares

$ 3,439

^[2],[3]

Basis Point Spread Above Index

1M SOFR+760

^{[2],[3],[11],[18]}

Cost

$ 3,425

^[2],[3]

Fair Value

$ 3,405

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^[2],[3]

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3]

Current Coupon

12.52%

^[2],[3]

Basis point spread above index, Percentage

715

^{[1],[3],[9],[11],[18]}

Par / Shares

$ 1,495

^[2],[3]

Basis Point Spread Above Index

3M SOFR+715

^{[2],[3],[11],[18]}

Cost

$ 1,495

^[2],[3]

Fair Value

$ 1,446

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[2],[3],[9]

Industry

IT Services

^[2],[3],[9]

Current Coupon

14.04%

^[2],[3],[9]

Basis point spread above index, Percentage

865

^{[3],[9],[11],[18]}

Par / Shares

$ 1,835

^[2],[3],[9]

Basis Point Spread Above Index

3M SOFR+865

^{[2],[3],[9],[11],[18]}

Cost

$ 1,835

^[2],[3],[9]

Fair Value

$ 1,807

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1% First Lien Senior Secured Debt - 101.9% Sigma Defense Systems, LLC Maturity 12/18/2025 Industry IT Services Current Coupon 14.04% Basis Point Spread Above Index 3M L+865

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[2],[3]

Industry

IT Services

^[2],[3]

Current Coupon

14.04%

^[2],[3]

Basis point spread above index, Percentage

865

^{[3],[11],[18]}

Par / Shares

$ 10,277

^[2],[3]

Basis Point Spread Above Index

3M SOFR+865

^{[2],[3],[11],[18]}

Cost

$ 10,123

^[2],[3]

Fair Value

$ 10,123

^[2],[3],[4]

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 750,399

^[2],[3],[19]

Cost

750

^[2],[3],[19]

Fair Value

$ 751

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), HV Watterson Holdings, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 100,000

^[2],[3],[19]

Cost

100

^[2],[3],[19]

Fair Value

$ 111

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), Hancock Claims Consultants Investors, LLC, Industry Insurance

Schedule Of Investments [Line Items]

Industry

Insurance

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 450,000

^{[2],[3],[8],[9],[19]}

Cost

448

^{[2],[3],[8],[9],[19]}

Fair Value

$ 338

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), IIN Group Holdings, LLC, Industry Consumer Services

Schedule Of Investments [Line Items]

Industry

Consumer Services

^[2],[3],[19]

Par / Shares

$ 1,000

^[2],[3],[19]

Cost

$ 1,000

^[2],[3],[19]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), Icon Partners V C, L.P, Industry Internet Software and Services

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^[2],[3],[19]

Par / Shares

$ 1,863,863

^[2],[3],[19]

Cost

1,864

^[2],[3],[19]

Fair Value

$ 1,671

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (American Insulated Glass, LLC), Icon Partners V C, L.P, Industry Internet Software and Services One

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^{[1],[2],[3],[9],[19]}

Par / Shares

$ 636,137

^{[1],[2],[3],[9],[19]}

Fair Value

$ (66)

^{[1],[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^[2],[3],[19]

Par / Shares

$ 1,218,045

^[2],[3],[19]

Cost

1,218

^[2],[3],[19]

Fair Value

$ 1,642

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Software

^[2],[3],[19]

Par / Shares

$ 1,236,027

^[2],[3],[19]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), Ironclad Holdco, LLC, (Applied Technical Services, LLC), Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 5,811

^{[2],[3],[8],[9],[19]}

Cost

573

^{[2],[3],[8],[9],[19]}

Fair Value

$ 844

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), Ironclad Holdco, LLC, ITC Infusion Co-invest, LP, Industry Healthcare Equipment and Supplies

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[2],[3],[8],[19]}

Par / Shares

$ 116,032

^{[2],[3],[8],[19]}

Cost

1,160

^{[2],[3],[8],[19]}

Fair Value

$ 1,268

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, (Integrative Nutrition, LLC), Ironclad Holdco, LLC, ITC Rumba, LLC (Cano Health, LLC), Industry Healthcare and Pharmaceuticals

Schedule Of Investments [Line Items]

Industry

Healthcare and Pharmaceuticals

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 46,763

^{[2],[3],[8],[9],[19]}

Cost

117

^{[2],[3],[8],[9],[19]}

Fair Value

$ 144

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[8],[19]}

Par / Shares

$ 647,943

^{[2],[3],[8],[19]}

Cost

648

^{[2],[3],[8],[19]}

Fair Value

$ 691

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, AG Investco LP One, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 194,836

^{[1],[2],[3],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, AG Investco LP, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 805,164

^{[2],[3],[8],[9],[19]}

Cost

805

^{[2],[3],[8],[9],[19]}

Fair Value

$ 1,074

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Ad.net Holdings, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 7,467

^{[2],[3],[8],[9],[19]}

Cost

$ 75

^{[2],[3],[8],[9],[19]}

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2024

^[2],[3]

Industry

Consumer Goods: Durable

^[2],[3],[19]

Par / Shares

$ 8,893

^[2],[3],[19]

Cost

$ 245

^[2],[3],[19]

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 1,437,500

^{[2],[3],[9],[19]}

Cost

1,437

^{[2],[3],[9],[19]}

Fair Value

$ 1,456

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 2,018

^{[2],[3],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[2],[3],[8],[19]}

Par / Shares

$ 4,678

^{[2],[3],[8],[19]}

Cost

5,000

^{[2],[3],[8],[19]}

Fair Value

$ 4,516

^{[2],[3],[4],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^[2],[3],[19]

Par / Shares

$ 1,313

^[2],[3],[19]

Cost

1,313

^[2],[3],[19]

Fair Value

$ 1,514

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Burgess Point Holdings, LP, Industry Auto Components

Schedule Of Investments [Line Items]

Industry

Auto Components

^[2],[3],[19]

Par / Shares

$ 100

^[2],[3],[19]

Cost

100

^[2],[3],[19]

Fair Value

$ 109

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, By Light Investco LP, Industry High Tech Industries

Schedule Of Investments [Line Items]

Industry

High Tech Industries

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 22,789

^{[2],[3],[8],[9],[19]}

Cost

849

^{[2],[3],[8],[9],[19]}

Fair Value

$ 11,610

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 161,538

^{[2],[3],[9],[19]}

Cost

161

^{[2],[3],[9],[19]}

Fair Value

$ 178

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 533,833

^{[2],[3],[8],[9],[19]}

Cost

524

^{[2],[3],[8],[9],[19]}

Fair Value

$ 850

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Food Products

^{[2],[3],[8],[9],[10],[18],[19]}

Par / Shares

$ 21,527

^{[2],[3],[8],[9],[10],[18],[19]}

Cost

^{[2],[3],[8],[9],[10],[18],[19]}

Fair Value

$ 212

^{[2],[3],[4],[8],[9],[10],[18],[19]}

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[19]}

Par / Shares

$ 219,056

^{[2],[3],[8],[19]}

Cost

206

^{[2],[3],[8],[19]}

Fair Value

$ 388

^{[2],[3],[4],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Media

^{[1],[2],[3],[8],[19]}

Par / Shares

$ 146,550

^{[1],[2],[3],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[2],[3],[9],[19]}

Par / Shares

$ 749

^{[2],[3],[9],[19]}

Cost

^{[2],[3],[9],[19]}

Fair Value

$ 1

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Telecommunications

^[2],[3],[19]

Par / Shares

$ 213,739

^[2],[3],[19]

Schedule Of Investments [Line Items]

Industry

Telecommunications

^[2],[3],[19]

Par / Shares

$ 23,889

^[2],[3],[19]

Schedule Of Investments [Line Items]

Industry

Insurance

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 400

^{[2],[3],[8],[9],[19]}

Cost

362

^{[2],[3],[8],[9],[19]}

Fair Value

$ 555

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[2],[3],[19]

Par / Shares

$ 694,444

^[2],[3],[19]

Cost

694

^[2],[3],[19]

Fair Value

$ 653

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[2],[3],[8],[19]}

Par / Shares

$ 3,715,012

^{[2],[3],[8],[19]}

Cost

3,754

^{[2],[3],[8],[19]}

Fair Value

$ 4,319

^{[2],[3],[4],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[1],[2],[3],[8],[19]}

Par / Shares

$ 284,988

^{[1],[2],[3],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[2],[3],[19]

Par / Shares

$ 36,458

^[2],[3],[19]

Cost

3,393

^[2],[3],[19]

Fair Value

$ 1,766

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 2,240

^{[2],[3],[8],[9],[19]}

Cost

224

^{[2],[3],[8],[9],[19]}

Fair Value

$ 794

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Connatix Parent, LLC, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 38,278

^{[2],[3],[9],[19]}

Cost

421

^{[2],[3],[9],[19]}

Fair Value

$ 222

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[9],[19]}

Par / Shares

$ 130

^{[2],[3],[9],[19]}

Cost

120

^{[2],[3],[9],[19]}

Fair Value

$ 199

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 760,273

^{[2],[3],[8],[9],[19]}

Cost

747

^{[2],[3],[8],[9],[19]}

Fair Value

$ 1,358

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 244,597

^{[1],[2],[3],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3],[19]

Par / Shares

$ 1,125,000

^[2],[3],[19]

Cost

1,125

^[2],[3],[19]

Fair Value

$ 1,062

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Exigo, LLC, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^[2],[3],[19]

Par / Shares

$ 541,667

^[2],[3],[19]

Cost

542

^[2],[3],[19]

Fair Value

$ 612

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, FedHC InvestCo LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 21,665

^{[2],[3],[8],[9],[19]}

Cost

727

^{[2],[3],[8],[9],[19]}

Fair Value

$ 3,062

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, FedHC InvestCo LP, Industry Aerospace and Defense One

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 7,566

^{[1],[2],[3],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Hotels, Restaurants and Leisure

^[2],[3],[19]

Par / Shares

$ 655,714

^[2],[3],[19]

Cost

656

^[2],[3],[19]

Fair Value

$ 800

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, GCOM InvestCo LP, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 19,184

^{[2],[3],[9],[19]}

Cost

3,342

^{[2],[3],[9],[19]}

Fair Value

$ 3,165

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Diversified Consumer Services

^[2],[3],[19]

Par / Shares

$ 374,444

^[2],[3],[19]

Cost

374

^[2],[3],[19]

Fair Value

$ 371

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge Lash Coinvest LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^{[2],[3],[9],[19]}

Par / Shares

$ 1,485,953

^{[2],[3],[9],[19]}

Cost

227

^{[2],[3],[9],[19]}

Fair Value

$ 6,810

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Gauge Loving Tan, LP, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[2],[3],[19]

Par / Shares

$ 2,481,781

^[2],[3],[19]

Cost

2,482

^[2],[3],[19]

Fair Value

$ 2,088

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[9],[19]}

Par / Shares

$ 465

^{[2],[3],[9],[19]}

Cost

476

^{[2],[3],[9],[19]}

Fair Value

$ 344

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[9],[19]}

Par / Shares

$ 391,144

^{[2],[3],[9],[19]}

Fair Value

$ 1,153

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Go Dawgs Capital III, LP, Industry Building Products

Schedule Of Investments [Line Items]

Industry

Building Products

^[2],[3],[19]

Par / Shares

$ 324,675

^[2],[3],[19]

Cost

325

^[2],[3],[19]

Fair Value

$ 711

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Energy Equipment and Services

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 382,353

^{[2],[3],[8],[9],[19]}

Cost

382

^{[2],[3],[8],[9],[19]}

Fair Value

$ 775

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Hotels, Restaurants and Leisure

^{[2],[3],[8],[19]}

Par / Shares

$ 87,345

^{[2],[3],[8],[19]}

Fair Value

$ 883

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Kinetic Purchaser, LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[2],[3],[19]

Par / Shares

$ 1,734,775

^[2],[3],[19]

Cost

1,735

^[2],[3],[19]

Fair Value

$ 2,508

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, LEP Pequod Holdings, LP, Industry Financial Services

Schedule Of Investments [Line Items]

Industry

Financial Services

^[2],[3],[19]

Par / Shares

$ 350

^[2],[3],[19]

Cost

865

^[2],[3],[19]

Fair Value

$ 1,006

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, LJ Avalon, LP, Industry Construction & Engineering

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^[2],[3],[19]

Par / Shares

$ 1,638,043

^[2],[3],[19]

Cost

1,638

^[2],[3],[19]

Fair Value

$ 1,736

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^{[2],[3],[9],[19]}

Par / Shares

$ 585,587

^{[2],[3],[9],[19]}

Cost

586

^{[2],[3],[9],[19]}

Fair Value

$ 1,588

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, MDI Aggregator, LP, Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Industry

Commodity Chemicals

^[2],[3],[19]

Par / Shares

$ 10,761

^[2],[3],[19]

Cost

1,077

^[2],[3],[19]

Fair Value

$ 1,155

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Media: Advertising, Printing and Publishing

^[2],[3],[19]

Par / Shares

$ 3,988

^[2],[3],[19]

Cost

$ 1,287

^[2],[3],[19]

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 5,144

^{[2],[3],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 28,231

^{[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 835

^{[2],[3],[9],[19]}

Fair Value

$ 468

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Meadowlark Title, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[8],[19]}

Par / Shares

$ 819,231

^{[2],[3],[8],[19]}

Cost

$ 805

^{[2],[3],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Municipal Emergency Services, Inc, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[2],[3],[9],[19]}

Par / Shares

$ 1,973,370

^{[2],[3],[9],[19]}

Cost

2,005

^{[2],[3],[9],[19]}

Fair Value

$ 2,230

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Leisure Products

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 1,494

^{[2],[3],[8],[9],[19]}

Cost

1,448

^{[2],[3],[8],[9],[19]}

Fair Value

$ 101

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[2],[3],[19]

Par / Shares

$ 2,544

^[2],[3],[19]

Cost

2,544

^[2],[3],[19]

Fair Value

$ 2,544

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 14,960

^{[2],[3],[9],[19]}

Cost

$ 15

^{[2],[3],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^{[2],[3],[8],[19]}

Par / Shares

$ 223,602

^{[2],[3],[8],[19]}

Cost

224

^{[2],[3],[8],[19]}

Fair Value

$ 223

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, OHCP V BC COI, L.P, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^[2],[3],[19]

Par / Shares

$ 743,750

^[2],[3],[19]

Cost

744

^[2],[3],[19]

Fair Value

$ 650

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, OHCP V BC COI, L.P, One, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[1],[2],[3],[8],[19]}

Par / Shares

$ 506,250

^{[1],[2],[3],[8],[19]}

Fair Value

$ (64)

^{[1],[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[2],[3],[9],[19]}

Par / Shares

$ 1,474

^{[2],[3],[9],[19]}

Cost

$ 15

^{[2],[3],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 173,638

^{[2],[3],[8],[9],[19]}

Cost

1,614

^{[2],[3],[8],[9],[19]}

Fair Value

$ 3,768

^{[2],[3],[4],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[2],[3],[9],[19]}

Par / Shares

$ 11,167,847

^{[2],[3],[9],[19]}

Cost

11,168

^{[2],[3],[9],[19]}

Fair Value

$ 9,345

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^{[2],[3],[8],[19]}

Par / Shares

$ 1,735

^{[2],[3],[8],[19]}

Cost

1,735

^{[2],[3],[8],[19]}

Fair Value

$ 55

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Pragmatic Institute, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 610,583

^[2],[3],[19]

Cost

611

^[2],[3],[19]

Fair Value

$ 238

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Quad (U.S.) Co-Invest, L.P, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 266,864

^[2],[3],[19]

Cost

267

^[2],[3],[19]

Fair Value

$ 312

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, QuantiTech InvestCo II LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 40

^{[2],[3],[8],[9],[19]}

Cost

^{[2],[3],[8],[9],[19]}

Fair Value

$ 26

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, QuantiTech InvestCo LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 712

^{[2],[3],[8],[9],[19]}

Cost

^{[2],[3],[8],[9],[19]}

Fair Value

$ 446

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, QuantiTech InvestCo LP, Industry Aerospace and Defense One

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[1],[2],[3],[8],[9],[19]}

Par / Shares

$ 955

^{[1],[2],[3],[8],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[2],[3],[9],[19]}

Par / Shares

$ 1,050,000

^{[2],[3],[9],[19]}

Cost

1,050

^{[2],[3],[9],[19]}

Fair Value

$ 1,052

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[2],[3],[9],[19]}

Par / Shares

$ 64,634

^{[2],[3],[9],[19]}

Cost

646

^{[2],[3],[9],[19]}

Fair Value

$ 515

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Leisure Products

^[2],[3],[19]

Par / Shares

$ 360,103

^[2],[3],[19]

Cost

360

^[2],[3],[19]

Fair Value

$ 247

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, SSC Dominion Holdings, LLC, Industry Capital Equipment

Schedule Of Investments [Line Items]

Industry

Capital Equipment

^[2],[3],[19]

Par / Shares

$ 24

^[2],[3],[19]

Cost

^[2],[3],[19]

Fair Value

$ 1,098

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Common Equity/Warrants— 14.5%, Seaway Topco, LP, Industry Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Industry

Chemicals, Plastics and Rubber

^[2],[3],[19]

Par / Shares

$ 296

^[2],[3],[19]

Cost

296

^[2],[3],[19]

Fair Value

$ 235

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[9],[19]}

Par / Shares

$ 70

^{[2],[3],[9],[19]}

Cost

^{[2],[3],[9],[19]}

Fair Value

$ 1,784

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Banking, Finance, Insurance & Real Estate

^{[2],[3],[9],[10],[19]}

Par / Shares

$ 20

^{[2],[3],[9],[10],[19]}

Cost

251

^{[2],[3],[9],[10],[19]}

Fair Value

$ 463

^{[2],[3],[4],[9],[10],[19]}

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[2],[3]

Industry

Wholesale

^[2],[3]

Current Coupon

11.68%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+635

^[2],[3],[11]

Basis point spread above index, Amount

635.00%

^[2],[3],[11]

Par / Shares

$ 1,667

^[2],[3]

Cost

1,667

^[2],[3]

Fair Value

$ 1,667

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Walker Edison Furniture Company, LLC - Unfunded Term Loan, Maturity 03/31/2027, Industry Wholesale

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[2],[3]

Industry

Wholesale

^[2],[3]

Par / Shares

$ 333

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, First Lien Senior Secured Debt - 101.9%, Walker Edison Furniture, LLC - Term Loan, Maturity 03/31/2027, Industry Wholesale, Current Coupon 12.18% Basis Point Spread Above Index 1M SOFR+685

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[2],[3]

Industry

Wholesale

^[2],[3]

Current Coupon

12.18%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+685

^[2],[3],[11]

Basis point spread above index, Amount

685.00%

^[2],[3],[11]

Par / Shares

$ 3,521

^[2],[3]

Cost

3,521

^[2],[3]

Fair Value

$ 3,521

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

10.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+515

^[2],[3],[11]

Basis point spread above index, Amount

515.00%

^[2],[3],[11]

Par / Shares

$ 7,646

^[2],[3]

Cost

7,579

^[2],[3]

Fair Value

$ 7,570

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

^[1],[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[1],[2],[3]

Par / Shares

$ 534

^[1],[2],[3]

Fair Value

$ (5)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

^[2],[3]

Industry

Automobiles

^[2],[3]

Current Coupon

12.67%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+735

^[2],[3],[11]

Basis point spread above index, Amount

735.00%

^[2],[3],[11]

Par / Shares

$ 13,249

^[2],[3]

Cost

13,206

^[2],[3]

Fair Value

$ 12,818

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Ad.net Holdings, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 6,720

^{[2],[3],[9],[19]}

Cost

672

^{[2],[3],[9],[19]}

Fair Value

$ 757

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[8],[9],[19]}

Par / Shares

$ 2,018

^{[2],[3],[8],[9],[19]}

Cost

2,018

^{[2],[3],[8],[9],[19]}

Fair Value

$ 1,633

^{[2],[3],[4],[8],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Cartessa Aesthetics, LLC (Preferred), Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[2],[3],[8],[19]}

Par / Shares

$ 1,437,500

^{[2],[3],[8],[19]}

Cost

1,438

^{[2],[3],[8],[19]}

Fair Value

$ 2,007

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Gauge Lash Coinvest LLC (Preferred), Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[2],[3],[19]

Par / Shares

$ 108,546

^[2],[3],[19]

Cost

586

^[2],[3],[19]

Fair Value

$ 1,319

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^[2],[3],[19]

Par / Shares

$ 64

^[2],[3],[19]

Cost

^[2],[3],[19]

Fair Value

$ 47

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Imagine Topco, LP, Industry Software, Current Coupon 8.00%

Schedule Of Investments [Line Items]

Industry

Software

^[2],[3],[19]

Current Coupon

8.00%

^[2],[3],[19]

Par / Shares

$ 1,236,027

^[2],[3],[19]

Cost

1,236

^[2],[3],[19]

Fair Value

$ 1,246

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 5

^{[2],[3],[8],[19]}

Cost

^{[2],[3],[8],[19]}

Fair Value

$ 6

^{[2],[3],[4],[8],[19]}

Schedule Of Investments [Line Items]

Industry

Automobiles

^{[2],[3],[8],[19]}

Par / Shares

$ 28

^{[2],[3],[8],[19]}

Cost

^{[2],[3],[8],[19]}

Fair Value

$ 24

^{[2],[3],[4],[8],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[2],[3],[9],[19]}

Par / Shares

$ 835

^{[2],[3],[9],[19]}

Cost

835

^{[2],[3],[9],[19]}

Fair Value

$ 1,112

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[2],[3],[9],[19]}

Par / Shares

$ 733

^{[2],[3],[9],[19]}

Cost

733

^{[2],[3],[9],[19]}

Fair Value

$ 489

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[2],[3],[9],[19]}

Par / Shares

$ 1,327

^{[2],[3],[9],[19]}

Cost

$ 133

^{[2],[3],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^[2],[3],[19]

Par / Shares

$ 61

^[2],[3],[19]

Cost

^[2],[3],[19]

Fair Value

$ 66

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[2],[3],[9],[19]}

Current Coupon

12.00%

^{[2],[3],[9],[19]}

Par / Shares

$ 1,323

^{[2],[3],[9],[19]}

Cost

1,323

^{[2],[3],[9],[19]}

Fair Value

$ 2,158

^{[2],[3],[4],[9],[19]}

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[2],[3],[9],[19]}

Current Coupon

13.50%

^{[2],[3],[9],[19]}

Par / Shares

$ 1,047,317

^{[2],[3],[9],[19]}

Cost

$ 670

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, Super Senior Preferred Equity, UniTek Global Services, Inc. - Senior Preferred Equity, Industry Telecommunications, Current Coupon 19.00%

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[2],[3],[9],[19]}

Current Coupon

19.00%

^{[2],[3],[9],[19]}

Par / Shares

$ 448,851

^{[2],[3],[9],[19]}

Cost

$ 449

^{[2],[3],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[2],[3],[8],[9],[10],[18],[19]}

Par / Shares

$ 409

^{[2],[3],[8],[9],[10],[18],[19]}

Cost

409

^{[2],[3],[8],[9],[10],[18],[19]}

Fair Value

$ 598

^{[2],[3],[4],[8],[9],[10],[18],[19]}

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[2],[3],[9],[19]}

Par / Shares

$ 37

^{[2],[3],[9],[19]}

Cost

^{[2],[3],[9],[19]}

Fair Value

$ 45

^{[2],[3],[4],[9],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Preferred Equity— 1.8%, UniTek Global Services, Inc, Industry Telecommunications

Schedule Of Investments [Line Items]

Industry

Telecommunications

^[2],[3],[19]

Current Coupon

20.00%

^[2],[3],[19]

Par / Shares

$ 343,861

^[2],[3],[19]

Cost

344

^[2],[3],[19]

Fair Value

$ 64

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Maturity

Apr. 23, 2025

^[2],[3],[9]

Industry

Media: Advertising, Printing and Publishing

^[2],[3],[9]

Par / Shares

$ 1,161

^[2],[3],[9]

Cost

$ 965

^[2],[3],[9]

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

15.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+1,010

^[2],[3],[11]

Basis point spread above index, Amount

1010.00%

^[2],[3],[11]

Par / Shares

$ 150

^[2],[3]

Cost

148

^[2],[3]

Fair Value

149

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total Common Equity/Warrants— 14.5%

Schedule Of Investments [Line Items]

Cost

72,159

^[2],[3],[19]

Fair Value

94,733

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total First Lien Senior Secured Debt - 101.9%,

Schedule Of Investments [Line Items]

Cost

683,940

^[2],[3]

Fair Value

665,725

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total Preferred Equity— 1.8%

Schedule Of Investments [Line Items]

Cost

11,028

^[2],[3],[19]

Fair Value

11,571

^{[2],[3],[4],[19]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%, Total Second Lien Secured Debt—0.0%

Schedule Of Investments [Line Items]

Cost

1,113

^[2],[3]

Fair Value

$ 149

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[1],[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[1],[2],[3]

Par / Shares

$ 801

^[1],[2],[3]

Fair Value

$ (8)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

^[1],[2],[3]

Industry

Healthcare Technology

^[1],[2],[3]

Par / Shares

$ 535

^[2],[3]

Fair Value

$ (12)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

10.67%

^[2],[3]

Basis point spread above index, Percentage

535

^{[3],[11],[18]}

Par / Shares

$ 4,752

^[2],[3]

Basis Point Spread Above Index

1M SOFR+535

^{[2],[3],[11],[18]}

Cost

$ 4,724

^[2],[3]

Fair Value

$ 4,657

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 23, 2028

^[1],[2],[3]

Industry

Hotels, Restaurants and Leisure

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Basis point spread above index, Percentage

—

^{[1],[2],[3],[11]}

Par / Shares

$ 741

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (11)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Feb. 23, 2028

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 837

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (13)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 23, 2028

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

12.43%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+710

^[2],[3],[11]

Basis point spread above index, Amount

710.00%

^[2],[3],[11]

Par / Shares

$ 4,569

^[2],[3]

Cost

4,488

^[2],[3]

Fair Value

$ 4,500

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 19, 2029

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

12.56%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 215

^[2],[3]

Cost

215

^[2],[3]

Fair Value

$ 215

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

^[2],[3]

Industry

Diversified Financial Services

^[2],[3]

Current Coupon

11.96%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+660

^[2],[3],[11]

Basis point spread above index, Amount

660.00%

^[2],[3],[11]

Par / Shares

$ 3,279

^[2],[3]

Cost

3,252

^[2],[3]

Fair Value

$ 3,115

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^{[1],[2],[3],[9]}

Industry

Trading Companies & Distributors

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 596

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (6)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^[2],[3],[9]

Industry

Trading Companies & Distributors

^[2],[3],[9]

Current Coupon

10.98%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+575

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

575.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 269

^[2],[3],[9]

Cost

269

^[2],[3],[9]

Fair Value

$ 266

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^[2],[3]

Industry

Trading Companies & Distributors

^[2],[3]

Current Coupon

10.98%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 736

^[2],[3]

Cost

729

^[2],[3]

Fair Value

$ 729

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 08, 2023

^{[1],[2],[3],[9]}

Industry

Trading Companies & Distributors

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 332

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ 0

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% HW Holdco, LLC (Revolver) Maturity 12/10/2024 Industry Media

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 1,335

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (20)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.82%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 116

^[2],[3]

Cost

116

^[2],[3]

Fair Value

$ 114

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.70%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 9,000

^[2],[3]

Cost

8,973

^[2],[3]

Fair Value

$ 8,865

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^{[1],[2],[3],[9]}

Industry

Insurance

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 415

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (10)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[2],[3],[9]

Industry

Insurance

^[2],[3],[9]

Current Coupon

10.92%

^[2],[3],[9]

Basis point spread above index, Percentage

1M SOFR+560

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

560.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 335

^[2],[3],[9]

Cost

335

^[2],[3],[9]

Fair Value

$ 327

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

10.93%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+560

^[2],[3],[11]

Basis point spread above index, Amount

560.00%

^[2],[3],[11]

Par / Shares

$ 4,172

^[2],[3]

Cost

4,112

^[2],[3]

Fair Value

$ 4,068

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2027

^[1],[2],[3]

Industry

Aerospace and Defense

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,791

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ 0

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

11.32%

^[2],[3]

Basis point spread above index, Percentage

6M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 4,913

^[2],[3]

Cost

4,835

^[2],[3]

Fair Value

$ 4,913

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2027

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 477

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (7)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2028

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Current Coupon

11.45%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

3M SOFR+610

^{[1],[2],[3],[9],[11]}

Basis point spread above index, Amount

610.00%

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 4,428

^{[1],[2],[3],[9]}

Cost

4,356

^{[1],[2],[3],[9]}

Fair Value

$ 4,362

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^[1],[2],[3]

Industry

IT Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 165

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (3)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^[2],[3]

Industry

IT Services

^[2],[3]

Current Coupon

12.05%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+560

^[2],[3],[11]

Basis point spread above index, Amount

560.00%

^[2],[3],[11]

Par / Shares

$ 500

^[2],[3]

Cost

500

^[2],[3]

Fair Value

$ 490

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[1],[2],[3]

Industry

Software

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,193

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (18)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[1],[2],[3]

Industry

Software

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,657

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (8)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2024

^[2],[3]

Industry

Healthcare Providers and Services

^[2],[3]

Current Coupon

12.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+715

^[2],[3],[11]

Basis point spread above index, Amount

715.00%

^[2],[3],[11]

Par / Shares

$ 14,803

^[2],[3]

Cost

14,656

^[2],[3]

Fair Value

$ 14,803

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2028

^[1],[2],[3]

Industry

Commercial Services & Supplies

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,292

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ 0

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infinity Home Services Holdco, Inc. - Unfunded Term Loan Maturity 12/28/2028 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2023

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 1,135

^[2],[3]

Cost

^[2],[3]

Fair Value

$ 0

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Infinity Home Services Holdco, Inc. Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 12.24% Basis Point Spread Above Index 3M SOFR+685

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2028

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

12.24%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+685

^[2],[3],[11]

Basis point spread above index, Amount

685.00%

^[2],[3],[11]

Par / Shares

$ 2,089

^[2],[3]

Cost

2,089

^[2],[3]

Fair Value

$ 2,089

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.17%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 3,178

^[2],[3]

Cost

3,143

^[2],[3]

Fair Value

$ 3,178

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2023

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 387

^[2],[3]

Cost

^[2],[3]

Fair Value

$ 4

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 01, 2029

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 3,096

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (72)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2025

^[2],[3]

Industry

Consumer Services

^[2],[3]

Current Coupon

12.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+715

^[2],[3],[11]

Basis point spread above index, Amount

715.00%

^[2],[3],[11]

Par / Shares

$ 15,521

^[2],[3]

Cost

15,457

^[2],[3]

Fair Value

$ 14,590

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2026

^{[1],[2],[3],[9]}

Industry

Insurance

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 511

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ 0

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2025

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 8,000

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (40)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2026

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

11.57%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+615

^[2],[3],[11]

Basis point spread above index, Amount

615.00%

^[2],[3],[11]

Par / Shares

$ 15,666

^[2],[3]

Cost

15,553

^[2],[3]

Fair Value

$ 15,509

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2025

^{[1],[2],[3],[9]}

Industry

Electronic Equipment, Instruments, and Components

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 1,729

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (35)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2025

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

12.93%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+761

^[2],[3],[11]

Basis point spread above index, Amount

761.00%

^[2],[3],[11]

Par / Shares

$ 4,988

^[2],[3]

Cost

4,894

^[2],[3]

Fair Value

$ 4,888

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

^{[1],[2],[3],[9]}

Industry

Chemicals, Plastics and Rubber

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 1,429

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ 0

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2026

^[1],[2],[3]

Industry

Personal Products

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 3,435

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (52)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

11.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+615

^[2],[3],[11]

Basis point spread above index, Amount

615.00%

^[2],[3],[11]

Par / Shares

$ 17,253

^[2],[3]

Cost

16,999

^[2],[3]

Fair Value

$ 16,995

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[2],[3],[9]

Industry

Capital Equipment

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+565

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

565.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 1,721

^[2],[3],[9]

Cost

1,721

^[2],[3],[9]

Fair Value

$ 1,700

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[2],[3]

Industry

Capital Equipment

^[2],[3]

Current Coupon

11.83%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+643

^[2],[3],[11]

Basis point spread above index, Amount

643.00%

^[2],[3],[11]

Par / Shares

$ 7,544

^[2],[3]

Cost

7,537

^[2],[3]

Fair Value

$ 7,454

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2030

^[1],[2],[3]

Industry

Construction & Engineering

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Basis point spread above index, Percentage

—

^{[1],[2],[3],[11]}

Par / Shares

$ 1,130

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (23)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2024

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 2,424

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (12)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 01, 2030

^[2],[3]

Industry

Construction & Engineering

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 400

^[2],[3]

Cost

394

^[2],[3]

Fair Value

$ 392

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 986

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (10)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^[2],[3],[9]

Industry

Personal Products

^[2],[3],[9]

Current Coupon

12.15%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+675

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

675.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 2,086

^[2],[3],[9]

Cost

2,086

^[2],[3],[9]

Fair Value

$ 2,065

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

11.88%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+675

^[2],[3],[11]

Basis point spread above index, Amount

675.00%

^[2],[3],[11]

Par / Shares

$ 10,404

^[2],[3]

Cost

10,264

^[2],[3]

Fair Value

$ 10,300

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[1],[2],[3]

Industry

Leisure Products

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 789

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (10)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[2],[3]

Industry

Leisure Products

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 3,709

^[2],[3]

Cost

3,677

^[2],[3]

Fair Value

$ 3,663

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^{[1],[2],[3],[9]}

Industry

Healthcare Technology

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 2,499

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (25)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^[2],[3]

Industry

Healthcare Technology

^[2],[3]

Current Coupon

10.67%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+535

^[2],[3],[11]

Basis point spread above index, Amount

535.00%

^[2],[3],[11]

Par / Shares

$ 22,543

^[2],[3]

Cost

22,282

^[2],[3]

Fair Value

$ 22,317

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 31, 2028

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 1,523

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (23)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 31, 2028

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

12.39%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+700

^[2],[3],[11]

Basis point spread above index, Amount

700.00%

^[2],[3],[11]

Par / Shares

$ 1,861

^[2],[3]

Cost

1,861

^[2],[3]

Fair Value

$ 1,833

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Loving Tan Intermediate II, Inc. Maturity 05/31/2028 Industry Personal Products Current Coupon 12.39 Basis Point Spread Above Index 3M SOFR+700

Schedule Of Investments [Line Items]

Maturity

May 31, 2028

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

12.39%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+700

^[2],[3],[11]

Basis point spread above index, Amount

700.00%

^[2],[3],[11]

Par / Shares

$ 19,263

^[2],[3]

Cost

18,894

^[2],[3]

Fair Value

$ 18,974

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Oct. 20, 2023

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

15.30%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+1000

^[2],[3],[11]

Basis point spread above index, Amount

1000.00%

^[2],[3],[11]

Par / Shares

$ 160

^[2],[3]

Cost

158

^[2],[3]

Fair Value

$ 160

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

^[2],[3],[19]

Industry

Hotels, Restaurants and Leisure

^[2],[3],[19]

Current Coupon

0.00%

^[2],[3],[19]

Basis point spread above index, Percentage

—

^{[2],[3],[11],[19]}

Par / Shares

$ 4,489

^[2],[3],[19]

Cost

4,210

^[2],[3],[19]

Fair Value

$ 1,182

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2027

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

10.99%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 3,674

^[2],[3]

Cost

3,564

^[2],[3]

Fair Value

$ 3,481

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

^{[1],[2],[3],[9]}

Industry

Internet Software and Services

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 972

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (15)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

^[2],[3]

Industry

Internet Software and Services

^[2],[3]

Current Coupon

11.17%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 185

^[2],[3]

Cost

185

^[2],[3]

Fair Value

$ 182

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[1],[2],[3]

Industry

Commodity Chemicals

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 412

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (5)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[2],[3],[9]

Industry

Commodity Chemicals

^[2],[3],[9]

Current Coupon

10.91%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+600

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

600.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 361

^[2],[3],[9]

Cost

361

^[2],[3],[9]

Fair Value

$ 353

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[2],[3]

Industry

Commodity Chemicals

^[2],[3]

Current Coupon

11.09%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+625

^[2],[3],[11]

Basis point spread above index, Amount

625.00%

^[2],[3],[11]

Par / Shares

$ 2,041

^[2],[3]

Cost

2,003

^[2],[3]

Fair Value

$ 1,997

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 2,435

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (24)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 8,728

^[2],[3]

Cost

8,616

^[2],[3]

Fair Value

$ 8,640

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Basis point spread above index, Percentage

—

^{[1],[2],[3],[11]}

Par / Shares

$ 1,693

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (42)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 1,103

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (17)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Meadowlark Acquirer, LLC - Term Loan II Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[1],[2],[3]

Industry

Professional Services

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 9,483

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (142)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 1,978

^[2],[3]

Cost

1,954

^[2],[3]

Fair Value

$ 1,929

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^{[1],[2],[3],[9]}

Industry

Capital Equipment

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 1,325

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (6)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[1],[2],[3]

Industry

Capital Equipment

^[1],[2],[3]

Current Coupon

0.00%

^[1],[2],[3]

Par / Shares

$ 707

^[1],[2],[3]

Cost

^[1],[2],[3]

Fair Value

$ (1)

^{[1],[2],[3],[4]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Mission Critical Electronics, Inc. Maturity 03/28/2024 Industry Capital Equipment Current Coupon 10.65% Basis Point Spread Above Index SOFR +515

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[2],[3]

Industry

Capital Equipment

^[2],[3]

Current Coupon

10.65%

^[2],[3]

Basis point spread above index, Percentage

SOFR +515

^[2],[3],[11]

Basis point spread above index, Amount

515.00%

^[2],[3],[11]

Par / Shares

$ 3,571

^[2],[3]

Cost

3,560

^[2],[3]

Fair Value

$ 3,553

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Oct. 01, 2027

^{[1],[2],[3],[9]}

Industry

Distributors

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Par / Shares

$ 568

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (12)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Oct. 01, 2027

^[2],[3],[9]

Industry

Distributors

^[2],[3],[9]

Current Coupon

11.04%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+565

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

565.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 379

^[2],[3],[9]

Cost

379

^[2],[3],[9]

Fair Value

$ 370

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. - Unfunded Term Loan A Maturity 06/16/2023 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2023

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Par / Shares

$ 387

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (9)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. - Unfunded Term Loan B Maturity 12/16/2024 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Dec. 16, 2024

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 1,264

^[2],[3]

Cost

^[2],[3]

Fair Value

$ (28)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Municipal Emergency Services, Inc. Maturity 10/01/2027 Industry Distributors Current Coupon 11.04% Basis Point Spread Above Index 3M SOFR+565

Schedule Of Investments [Line Items]

Maturity

Oct. 01, 2027

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 1,181

^[2],[3]

Cost

1,144

^[2],[3]

Fair Value

$ 1,155

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Current Coupon

0.00%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

—

^{[1],[2],[3],[9],[11]}

Par / Shares

$ 1,677

^{[1],[2],[3],[9]}

Cost

^{[1],[2],[3],[9]}

Fair Value

$ (34)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2029

^{[1],[2],[3],[9]}

Industry

Healthcare Providers and Services

^{[1],[2],[3],[9]}

Par / Shares

$ 5,479

^[1],[9]

Fair Value

$ (110)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2029

^[2],[3]

Industry

Healthcare Providers and Services

^[2],[3]

Current Coupon

11.74%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+635

^{[3],[11],[18]}

Basis point spread above index, Amount

635.00%

^{[3],[11],[18]}

Par / Shares

$ 41,489

^[2],[3]

Cost

40,662

^[2],[3]

Fair Value

$ 40,659

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 09, 2029

^[2],[3]

Industry

Insurance

^[2],[3]

Current Coupon

0.00%

^[2],[3]

Basis point spread above index, Percentage

—

^[2],[3],[11]

Par / Shares

$ 541

^[2],[3]

Cost

^[2],[3]

Fair Value

$ 0

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^{[1],[2],[3],[9]}

Industry

Consumer Finance

^{[1],[2],[3],[9]}

Par / Shares

$ 861

^[1],[9]

Fair Value

$ (77)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^[2],[3],[9]

Industry

Consumer Finance

^[2],[3],[9]

Current Coupon

12.84%

^[2],[3],[9]

Basis point spread above index, Percentage

6M SOFR+725

^{[3],[9],[11],[18]}

Basis point spread above index, Amount

725.00%

^{[3],[9],[11],[18]}

Par / Shares

$ 4,900

^[9]

Cost

4,828

^[2],[3],[9]

Fair Value

$ 4,459

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

^[2],[3]

Industry

Air Freight and Logistics

^[2],[3]

Current Coupon

11.68%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+636

^{[3],[11],[18]}

Basis point spread above index, Amount

636.00%

^{[3],[11],[18]}

Par / Shares

$ 8,516

Cost

8,397

^[2],[3]

Fair Value

$ 8,516

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jun. 27, 2026

^[2],[3],[19]

Industry

Business Services

^[2],[3],[19]

Current Coupon

0.00%

^[2],[3],[19]

Par / Shares

$ 4,923

^[19]

Cost

4,469

^[2],[3],[19]

Fair Value

$ 960

^{[2],[3],[4],[19]}

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

10.80%

^[2],[3]

Basis point spread above index, Percentage

6M SOFR+550

^{[3],[11],[18]}

Basis point spread above index, Amount

550.00%

^{[3],[11],[18]}

Par / Shares

$ 3,893

^[2],[3]

Cost

3,797

^[2],[3]

Fair Value

$ 3,834

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[1],[2],[3]

Industry

Construction and Building

^[1],[2],[3]

Par / Shares

$ 3,387

^[1]

Fair Value

$ (59)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[2],[3]

Industry

Construction and Building

^[2],[3]

Current Coupon

12.90%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+751

^{[3],[11],[18]}

Basis point spread above index, Amount

751.00%

^{[3],[11],[18]}

Par / Shares

$ 22,736

^[2],[3]

Cost

22,513

^[2],[3]

Fair Value

$ 22,338

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[2],[3]

Industry

Textiles, Apparel and Luxury Goods

^[2],[3]

Current Coupon

12.42%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+710

^{[3],[11],[18]}

Basis point spread above index, Amount

710.00%

^{[3],[11],[18]}

Par / Shares

$ 5,612

^[2],[3]

Cost

5,538

^[2],[3]

Fair Value

$ 5,050

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2026

^[1],[2],[3]

Industry

Diversified Financial Services

^[1],[2],[3]

Par / Shares

$ 757

^[1]

Fair Value

$ (15)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2026

^[2],[3]

Industry

Diversified Financial Services

^[2],[3]

Par / Shares

$ 2,847

^[2],[3]

Fair Value

$ (57)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

^[2],[3]

Industry

Leisure Products

^[2],[3]

Current Coupon

10.92%

^[2],[3]

Basis point spread above index, Percentage

565

^{[3],[11],[18]}

Par / Shares

$ 3,401

^[2],[3]

Basis Point Spread Above Index

3M SOFR+565

^{[3],[11],[18]}

Cost

$ 3,386

^[2],[3]

Fair Value

$ 3,248

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.17%

^[2],[3]

Basis point spread above index, Percentage

575

^{[3],[11],[18]}

Par / Shares

$ 1,526

^[2],[3]

Basis Point Spread Above Index

3M SOFR+575

^{[3],[11],[18]}

Cost

$ 1,526

^[2],[3]

Fair Value

$ 1,458

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[2],[3]

Industry

Professional Services

^[2],[3]

Par / Shares

$ 2,290

^[2],[3]

Fair Value

$ (80)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[2],[3],[9]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3],[9]

Current Coupon

11.74%

^[2],[3],[9]

Basis point spread above index, Percentage

635

^{[3],[9],[11],[18]}

Par / Shares

$ 670

^[9]

Basis Point Spread Above Index

3M SOFR+635

^{[3],[9],[11],[18]}

Cost

$ 670

^[2],[3],[9]

Fair Value

$ 660

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Current Coupon

11.74%

^[2],[3]

Basis point spread above index, Percentage

635

^{[3],[11],[18]}

Par / Shares

$ 6,647

^[2],[3]

Basis Point Spread Above Index

3M SOFR+635

^{[3],[11],[18]}

Cost

$ 6,578

^[2],[3]

Fair Value

$ 6,547

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

^{[1],[2],[3],[9]}

Industry

Media: Diversified and Production

^{[1],[2],[3],[9]}

Par / Shares

$ 1,197

^[1],[9]

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

^[2],[3]

Industry

Media: Diversified and Production

^[2],[3]

Current Coupon

9.81%

^[2],[3]

Basis point spread above index, Percentage

425

^{[3],[11],[18]}

Par / Shares

$ 6,731

^[2],[3]

Basis Point Spread Above Index

3M SOFR+425

^{[3],[11],[18]}

Cost

$ 6,706

^[2],[3]

Fair Value

$ 6,731

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 315

^[1],[9]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Current Coupon

11.24%

^{[1],[2],[3],[9]}

Basis point spread above index, Percentage

585

^{[1],[3],[9],[11],[18]}

Par / Shares

$ 210

^[1],[9]

Basis Point Spread Above Index

3M SOFR+585

^{[1],[3],[9],[11],[18]}

Cost

$ 210

^{[1],[2],[3],[9]}

Fair Value

$ 210

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^{[1],[2],[3],[9]}

Industry

Leisure Products

^{[1],[2],[3],[9]}

Par / Shares

$ 1,296

^[1],[9]

Fair Value

$ (39)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^[2],[3]

Industry

Leisure Products

^[2],[3]

Current Coupon

12.54%

^[2],[3]

Basis point spread above index, Percentage

715

^{[3],[11],[18]}

Par / Shares

$ 1,463

^[2],[3]

Basis Point Spread Above Index

3M SOFR+715

^{[3],[11],[18]}

Cost

$ 1,448

^[2],[3]

Fair Value

$ 1,419

^[2],[3],[4]

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^[2],[3]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Research Now Group, Inc. and Dynata, LLC, Maturity 12/20/2024 Industry Business Services Current Coupon 11.13% Basis Point Spread Above Index 3M SOFR+576

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[2],[3]

Industry

Business Services

^[2],[3]

Current Coupon

11.13%

^[2],[3]

Basis point spread above index, Percentage

576

^{[3],[11],[18]}

Par / Shares

$ 16,962

^[2],[3]

Basis Point Spread Above Index

3M SOFR+576

^{[3],[11],[18]}

Cost

$ 16,875

^[2],[3]

Fair Value

$ 14,842

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^{[1],[2],[3],[9]}

Industry

Healthcare Equipment and Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 795

^[1],[9]

Fair Value

$ (11)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^[2],[3],[9]

Industry

Healthcare Equipment and Supplies

^[2],[3],[9]

Current Coupon

10.42%

^[2],[3],[9]

Basis point spread above index, Percentage

510

^{[3],[9],[11],[18]}

Par / Shares

$ 114

^[9]

Basis Point Spread Above Index

1M SOFR+510

^{[3],[9],[11],[18]}

Cost

$ 114

^[2],[3],[9]

Fair Value

$ 112

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^[2],[3]

Current Coupon

10.54%

^[2],[3]

Basis point spread above index, Percentage

515

^{[3],[11],[18]}

Par / Shares

$ 7,939

^[2],[3]

Basis Point Spread Above Index

3M SOFR+515

^{[3],[11],[18]}

Cost

$ 7,903

^[2],[3]

Fair Value

$ 7,828

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 10, 2025

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

11.29%

^[2],[3]

Basis point spread above index, Percentage

590

^{[3],[11],[18]}

Par / Shares

$ 15,199

^[2],[3]

Basis Point Spread Above Index

3M SOFR+590

^{[3],[11],[18]}

Cost

$ 15,075

^[2],[3]

Fair Value

$ 15,047

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2029

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 860

^[1],[9]

Fair Value

$ (13)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1% First Lien Secured Debt - 101.9% Rural Sourcing Holdings, Inc. (HPA SPQ Merger Sub, Inc.) - Unfunded Term Loan Maturity 06/15/2029 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2029

^[2],[3]

Industry

Professional Services

^[2],[3]

Par / Shares

$ 1,146

^[2],[3]

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Par / Shares

$ 528

^[2],[3]

Fair Value

$ 5

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

^{[1],[2],[3],[9]}

Industry

Commercial Services & Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 748

^{[1],[2],[3],[9]}

Fair Value

$ (4)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

11.99%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+660

^[2],[3],[11]

Basis point spread above index, Amount

660.00%

^[2],[3],[11]

Par / Shares

$ 1,520

^[2],[3]

Cost

1,499

^[2],[3]

Fair Value

$ 1,512

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 622

^{[1],[2],[3],[9]}

Fair Value

$ (3)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

^[2],[3],[9]

Industry

Media

^[2],[3],[9]

Current Coupon

11.65%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+626

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

626.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 622

^[2],[3],[9]

Cost

622

^[2],[3],[9]

Fair Value

$ 619

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.65%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+626

^[2],[3],[11]

Basis point spread above index, Amount

626.00%

^[2],[3],[11]

Par / Shares

$ 4,888

^[2],[3]

Cost

4,846

^[2],[3]

Fair Value

$ 4,863

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jun. 10, 2025

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 13,958

^[2],[3]

Cost

13,859

^[2],[3]

Fair Value

$ 13,749

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 2,869

^{[1],[2],[3],[9]}

Fair Value

$ (50)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

12.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+665

^[2],[3],[11]

Basis point spread above index, Amount

665.00%

^[2],[3],[11]

Par / Shares

$ 2,212

^[2],[3]

Cost

2,186

^[2],[3]

Fair Value

$ 2,184

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+565

^[2],[3],[11]

Basis point spread above index, Amount

565.00%

^[2],[3],[11]

Par / Shares

$ 13,786

^[2],[3]

Cost

13,755

^[2],[3]

Fair Value

$ 13,545

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^{[1],[2],[3],[9]}

Industry

Energy Equipment and Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,147

^{[1],[2],[3],[9]}

Fair Value

$ (23)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^[2],[3]

Industry

Energy Equipment and Services

^[2],[3]

Current Coupon

11.22%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 6,395

^[2],[3]

Cost

6,326

^[2],[3]

Fair Value

$ 6,267

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^{[1],[2],[3],[9]}

Industry

Diversified Consumer Services

^{[1],[2],[3],[9]}

Par / Shares

$ 692

^{[1],[2],[3],[9]}

Fair Value

$ (2)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3],[9]

Industry

Diversified Consumer Services

^[2],[3],[9]

Current Coupon

10.86%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+525

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

525.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 1,153

^[2],[3],[9]

Cost

1,153

^[2],[3],[9]

Fair Value

$ 1,150

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

11.04%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+550

^[2],[3],[11]

Basis point spread above index, Amount

550.00%

^[2],[3],[11]

Par / Shares

$ 294

^[2],[3]

Cost

294

^[2],[3]

Fair Value

$ 294

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Apex Service Partners, LLC Term Loan C, Maturity 07/31/2025, Industry Diversified Consumer Services, Current Coupon 10.68%, Basis Point Spread Above Index 3M SOFR+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

10.68%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+525

^[2],[3],[11]

Basis point spread above index, Amount

525.00%

^[2],[3],[11]

Par / Shares

$ 12,826

^[2],[3]

Cost

12,732

^[2],[3]

Fair Value

$ 12,793

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[2],[3]

Industry

Diversified Consumer Services

^[2],[3]

Current Coupon

10.52%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+525

^[2],[3],[11]

Basis point spread above index, Amount

525.00%

^[2],[3],[11]

Par / Shares

$ 6,160

^[2],[3]

Cost

6,132

^[2],[3]

Fair Value

$ 6,145

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^{[1],[2],[3],[9]}

Industry

Commercial Services & Supplies

^{[1],[2],[3],[9]}

Par / Shares

$ 764

^{[1],[2],[3],[9]}

Fair Value

$ (15)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[2],[3],[9]

Industry

Commercial Services & Supplies

^[2],[3],[9]

Current Coupon

13.25%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+475

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

475.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 509

^[2],[3],[9]

Cost

509

^[2],[3],[9]

Fair Value

$ 499

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Applied Technical Services, LLC (Unfunded Term Loan), Maturity 12/29/2026, Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Par / Shares

$ 582

^[2],[3]

Fair Value

$ (6)

^[2],[3],[4]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Applied Technical Services, LLC, Maturity 12/29/2026, Industry Commercial Services & Supplies, Current Coupon 11.54%, Basis Point Spread Above Index 3M SOFR+615

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

11.54%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+615

^[2],[3],[11]

Basis point spread above index, Amount

615.00%

^[2],[3],[11]

Par / Shares

$ 8,891

^[2],[3]

Cost

8,784

^[2],[3]

Fair Value

$ 8,714

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 03, 2029

^[2],[3]

Industry

Aerospace and Defense

^[2],[3]

Current Coupon

11.62%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+625

^[2],[3],[11]

Basis point spread above index, Amount

625.00%

^[2],[3],[11]

Par / Shares

$ 6,526

^[2],[3]

Cost

6,429

^[2],[3]

Fair Value

$ 6,461

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 04, 2028

^[1],[2],[3]

Industry

Aerospace and Defense

^[1],[2],[3]

Par / Shares

$ 1,379

^[1],[2],[3]

Fair Value

$ (14)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

^[2],[3]

Industry

Internet Software and Services

^[2],[3]

Current Coupon

11.14%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+575

^[2],[3],[11]

Basis point spread above index, Amount

575.00%

^[2],[3],[11]

Par / Shares

$ 4,950

^[2],[3]

Cost

4,862

^[2],[3]

Fair Value

$ 4,604

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2028

^[1],[2],[3]

Industry

Healthcare Equipment and Supplies

^[1],[2],[3]

Par / Shares

$ 964

^[1],[2],[3]

Fair Value

$ (5)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2028

^[2],[3],[9]

Industry

Healthcare Equipment and Supplies

^[2],[3],[9]

Current Coupon

11.81%

^[2],[3],[9]

Basis point spread above index, Percentage

1M SOFR+650

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

650.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 107

^[2],[3],[9]

Cost

107

^[2],[3],[9]

Fair Value

$ 107

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[1],[2],[3]

Industry

Distributors

^[1],[2],[3]

Par / Shares

$ 2,469

^[1],[2],[3]

Fair Value

$ (37)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 631

^[2],[3]

Cost

628

^[2],[3]

Fair Value

$ 622

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[2],[3],[9]

Industry

Distributors

^[2],[3],[9]

Current Coupon

13.75%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+525

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

525.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 274

^[2],[3],[9]

Cost

274

^[2],[3],[9]

Fair Value

$ 270

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

^[2],[3]

Industry

Distributors

^[2],[3]

Par / Shares

$ 2,624

^[2],[3]

Fair Value

$ (26)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 04, 2025

^[2],[3]

Industry

Textiles, Apparel and Luxury Goods

^[2],[3]

Current Coupon

11.50%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+626

^[2],[3],[11]

Basis point spread above index, Amount

626.00%

^[2],[3],[11]

Par / Shares

$ 3,324

^[2],[3]

Cost

3,324

^[2],[3]

Fair Value

$ 3,324

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

May 16, 2025

^{[1],[2],[3],[9]}

Industry

High Tech Industries

^{[1],[2],[3],[9]}

Par / Shares

$ 3,507

^{[1],[2],[3],[9]}

Fair Value

$ (61)

^{[1],[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, By Light Professional IT Services, LLC, Maturity 05/16/2025, Industry High Tech Industries, Current Coupon 12.43%, Basis Point Spread Above Index 3M SOFR+688

Schedule Of Investments [Line Items]

Maturity

May 16, 2025

^[2],[3]

Industry

High Tech Industries

^[2],[3]

Current Coupon

12.43%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+688

^[2],[3],[11]

Basis point spread above index, Amount

688.00%

^[2],[3],[11]

Par / Shares

$ 25,674

^[2],[3]

Cost

25,499

^[2],[3]

Fair Value

$ 25,224

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.59%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+619

^[2],[3],[11]

Basis point spread above index, Amount

619.00%

^[2],[3],[11]

Par / Shares

$ 5,980

^[2],[3]

Cost

5,930

^[2],[3]

Fair Value

$ 5,860

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 955

^{[1],[2],[3],[9]}

Fair Value

$ (19)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

^[2],[3]

Industry

Environmental Industries

^[2],[3]

Current Coupon

10.15%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+476

^[2],[3],[11]

Basis point spread above index, Amount

476.00%

^[2],[3],[11]

Par / Shares

$ 1,564

^[2],[3]

Cost

1,562

^[2],[3]

Fair Value

$ 1,564

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

^[2],[3],[9]

Industry

Aerospace and Defense

^[2],[3],[9]

Current Coupon

12.07%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+665

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

665.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 980

^[2],[3],[9]

Cost

980

^[2],[3],[9]

Fair Value

$ 980

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

^{[1],[2],[3],[9]}

Industry

Distributors

^{[1],[2],[3],[9]}

Par / Shares

$ 927

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

^[2],[3],[9]

Industry

Distributors

^[2],[3],[9]

Current Coupon

11.39%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+600

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

600.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 511

^[2],[3],[9]

Cost

511

^[2],[3],[9]

Fair Value

$ 511

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

^[2],[3]

Industry

Distributors

^[2],[3]

Current Coupon

11.39%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+600

^[2],[3],[11]

Basis point spread above index, Amount

600.00%

^[2],[3],[11]

Par / Shares

$ 13,076

^[2],[3]

Cost

12,907

^[2],[3]

Fair Value

$ 13,076

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2024

^[2],[3]

Industry

Business Services

^[2],[3]

Current Coupon

12.18%

^[2],[3]

Basis point spread above index, Percentage

3M L+675

^[2],[3],[11]

Basis point spread above index, Amount

675.00%

^[2],[3],[11]

Par / Shares

$ 237

^[2],[3]

Cost

237

^[2],[3]

Fair Value

$ 230

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 09, 2026

^[2],[3]

Industry

Professional Services

^[2],[3]

Current Coupon

10.99%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+525

^[2],[3],[11]

Basis point spread above index, Amount

525.00%

^[2],[3],[11]

Par / Shares

$ 8,925

^[2],[3]

Cost

8,891

^[2],[3]

Fair Value

$ 8,925

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^{[1],[2],[3],[9]}

Industry

Professional Services

^{[1],[2],[3],[9]}

Par / Shares

$ 1,265

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^[2],[3],[9]

Industry

Professional Services

^[2],[3],[9]

Current Coupon

10.94%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+555

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

555.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 141

^[2],[3],[9]

Cost

141

^[2],[3],[9]

Fair Value

$ 141

^{[2],[3],[4],[9]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, Connatix Buyer, Inc, Maturity 07/13/2027, Industry Media

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^{[1],[2],[3],[9]}

Industry

Media

^{[1],[2],[3],[9]}

Par / Shares

$ 1,234

^{[1],[2],[3],[9]}

Fair Value

$ (43)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^[2],[3]

Industry

Media

^[2],[3]

Current Coupon

11.16%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+576

^[2],[3],[11]

Basis point spread above index, Amount

576.00%

^[2],[3],[11]

Par / Shares

$ 3,814

^[2],[3]

Cost

3,761

^[2],[3]

Fair Value

$ 3,681

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3]

Industry

Commercial Services & Supplies

^[2],[3]

Current Coupon

10.90%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+551

^[2],[3],[11]

Basis point spread above index, Amount

551.00%

^[2],[3],[11]

Par / Shares

$ 882

^[2],[3]

Cost

871

^[2],[3]

Fair Value

$ 878

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3],[9]

Industry

Commercial Services & Supplies

^[2],[3],[9]

Par / Shares

$ 202

^[2],[3],[9]

Fair Value

$ (1)

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[2],[3],[9]

Industry

Commercial Services & Supplies

^[2],[3],[9]

Current Coupon

10.90%

^[2],[3],[9]

Basis point spread above index, Percentage

3M SOFR+551

^{[2],[3],[9],[11]}

Basis point spread above index, Amount

551.00%

^{[2],[3],[9],[11]}

Par / Shares

$ 135

^[2],[3],[9]

Cost

135

^[2],[3],[9]

Fair Value

$ 134

^{[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^[2],[3]

Industry

Chemicals, Plastics and Rubber

^[2],[3]

Current Coupon

11.79%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+640

^[2],[3],[11]

Basis point spread above index, Amount

640.00%

^[2],[3],[11]

Par / Shares

$ 16,266

^[2],[3]

Cost

16,142

^[2],[3]

Fair Value

$ 16,070

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Par / Shares

$ 1,426

^{[1],[2],[3],[9]}

Fair Value

$ (17)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^{[1],[2],[3],[9]}

Industry

Personal Products

^{[1],[2],[3],[9]}

Par / Shares

$ 3,353

^{[1],[2],[3],[9]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^[2],[3]

Industry

Personal Products

^[2],[3]

Current Coupon

11.24%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+585

^[2],[3],[11]

Basis point spread above index, Amount

585.00%

^[2],[3],[11]

Par / Shares

$ 4,383

^[2],[3]

Cost

4,328

^[2],[3]

Fair Value

$ 4,383

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

^[2],[3]

Industry

Containers and Packaging

^[2],[3]

Current Coupon

11.93%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+650

^[2],[3],[11]

Basis point spread above index, Amount

650.00%

^[2],[3],[11]

Par / Shares

$ 3,445

^[2],[3]

Cost

3,407

^[2],[3]

Fair Value

$ 3,393

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2030

^[2],[3]

Industry

Hotels, Restaurants and Leisure

^[2],[3]

Current Coupon

10.14%

^[2],[3]

Basis point spread above index, Percentage

1M SOFR+475

^[2],[3],[11]

Basis point spread above index, Amount

475.00%

^[2],[3],[11]

Par / Shares

$ 5,000

^[2],[3]

Cost

4,900

^[2],[3]

Fair Value

$ 4,985

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jan. 10, 2029

^[2],[3]

Industry

Electronic Equipment, Instruments, and Components

^[2],[3]

Par / Shares

$ 6,750

^[2],[3]

Fair Value

$ (17)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Jan. 10, 2029

^{[1],[2],[3],[9]}

Industry

Electronic Equipment, Instruments, and Components

^{[1],[2],[3],[9]}

Par / Shares

$ 2,025

^{[1],[2],[3],[9]}

Fair Value

$ (30)

^{[1],[2],[3],[4],[9]}

Schedule Of Investments [Line Items]

Maturity

May 25, 2029

^[1],[2],[3]

Industry

Diversified Consumer Services

^[1],[2],[3]

Par / Shares

$ 1,656

^[1],[2],[3]

Fair Value

$ (28)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2024

^[2],[3]

Industry

Media: Diversified and Production

^[2],[3]

Current Coupon

13.15%

^[2],[3]

Basis point spread above index, Percentage

3M SOFR+776

^[2],[3],[11]

Basis point spread above index, Amount

776.00%

^[2],[3],[11]

Par / Shares

$ 7,645

^[2],[3]

Cost

7,651

^[2],[3]

Fair Value

$ 5,352

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

^[1],[2],[3]

Industry

Software

^[1],[2],[3]

Par / Shares

$ 689

^[1],[2],[3]

Fair Value

$ (14)

^{[1],[2],[3],[4]}

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^[2],[3],[10]

Industry

Banking, Finance, Insurance & Real Estate

^[2],[3],[10]

Current Coupon

10.43%

^[2],[3],[10]

Basis point spread above index, Percentage

1M SOFR+510

^{[2],[3],[10],[11]}

Basis point spread above index, Amount

510.00%

^{[2],[3],[10],[11]}

Par / Shares

$ 4,599

^[2],[3],[10]

Cost

4,599

^[2],[3],[10]

Fair Value

$ 4,599

^{[2],[3],[4],[10]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—118.1%, First Lien Secured Debt—101.9%, eCommission Financial Services, Inc. (Revolver), Maturity 10/05/2023, Industry Banking, Finance, Insurance & Real Estate

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^{[1],[2],[3],[9],[10]}

Industry

Banking, Finance, Insurance & Real Estate

^{[1],[2],[3],[9],[10]}

Par / Shares

$ 5,000

^{[1],[2],[3],[9],[10]}

Schedule Of Investments [Line Items]

Current Coupon

11.02%

^[2],[3],[9]

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^[1],[2],[3]

Par / Shares

$ 2,290

Fair Value

(229)

^[2],[3],[4]

Schedule Of Investments [Line Items]

Maturity

Dec. 08, 2022

^[5],[6],[13]

Dec. 08, 2022

^[5],[6],[13]

Industry

Telecommunications

^[5],[6],[13]

Current Coupon

0.00%

^[5],[6],[13]

0.00%

^[5],[6],[13]

Par / Shares

$ 1,656

^[5],[6],[13]

Cost

1,642

^[5],[6],[13]

Fair Value

$ 17

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Industry

Media

^[5],[6]

Current Coupon

9.85%

^[5],[6]

9.85%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6],[16]

Basis point spread above index, Amount

62.00%

^[5],[6],[16]

62.00%

^[5],[6],[16]

Par / Shares

$ 14,104

^[5],[6]

Cost

13,951

^[5],[6]

Fair Value

13,892

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1% Total

Schedule Of Investments [Line Items]

Cost

55,418

^[5],[6],[17]

Fair Value

94,050

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, AG Investco LP, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^{[5],[6],[12],[13],[17]}

Par / Shares

805,164

^{[5],[6],[12],[13],[17]}

Cost

805

^{[5],[6],[12],[13],[17]}

Fair Value

1,127

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, AG Investco LP, Industry Software One

Schedule Of Investments [Line Items]

Industry

Software

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

194,836

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Ad.net Holdings, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[13],[17]}

Par / Shares

7,467

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

$ 98

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2024

^{[5],[6],[13],[17]}

Apr. 10, 2024

^{[5],[6],[13],[17]}

Industry

Consumer Goods: Durable

^{[5],[6],[13],[17]}

Par / Shares

$ 8,893

^{[5],[6],[13],[17]}

Cost

245

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Altamira Intermediate Company II, Inc, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[13],[17]}

Par / Shares

1,437,500

^{[5],[6],[13],[17]}

Cost

1,438

^{[5],[6],[13],[17]}

Fair Value

906

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[13],[17]}

Par / Shares

2,018

^{[5],[6],[12],[13],[17]}

Fair Value

480

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[5],[6],[17]

Par / Shares

4,678

^[5],[6],[17]

Cost

5,000

^[5],[6],[17]

Fair Value

4,758

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Burgess Point Holdings, LP, Industry Auto Components

Schedule Of Investments [Line Items]

Industry

Auto Components

^[5],[6],[17]

Par / Shares

100

^[5],[6],[17]

Cost

100

^[5],[6],[17]

Fair Value

101

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, By Light Investco LP, Industry High Tech Industries

Schedule Of Investments [Line Items]

Industry

High Tech Industries

^{[5],[6],[12],[13],[17]}

Par / Shares

22,090

^{[5],[6],[12],[13],[17]}

Cost

193

^{[5],[6],[12],[13],[17]}

Fair Value

18,085

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, By Light Investco LP, Industry High Tech Industries One

Schedule Of Investments [Line Items]

Industry

High Tech Industries

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

3,223

^{[5],[6],[12],[13],[14],[17]}

Schedule Of Investments [Line Items]

Industry

Business Services

^{[5],[6],[12],[13],[17]}

Par / Shares

120,962

^{[5],[6],[12],[13],[17]}

Cost

1,243

^{[5],[6],[12],[13],[17]}

Fair Value

1,651

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Connatix Parent, LLC, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

38,278

^{[5],[6],[13],[17]}

Cost

421

^{[5],[6],[13],[17]}

Fair Value

459

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[13],[17]}

Par / Shares

130

^{[5],[6],[13],[17]}

Cost

120

^{[5],[6],[13],[17]}

Fair Value

140

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[12],[13],[17]}

Par / Shares

615,484

^{[5],[6],[12],[13],[17]}

Cost

602

^{[5],[6],[12],[13],[17]}

Fair Value

1,255

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

389,386

^{[5],[6],[12],[13],[14],[17]}

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^{[5],[6],[12],[13],[17]}

Par / Shares

295,982

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

633

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Exigo, LLC, Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^[5],[6],[17]

Par / Shares

541,667

^[5],[6],[17]

Cost

542

^[5],[6],[17]

Fair Value

478

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Express Wash Topco, LLC, Industry Automobiles

Schedule Of Investments [Line Items]

Industry

Automobiles

^[5],[6],[17]

Par / Shares

20,000

^[5],[6],[17]

Cost

100

^[5],[6],[17]

Fair Value

102

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, FedHC InvestCo LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

21,083

^{[5],[6],[12],[13],[17]}

Cost

711

^{[5],[6],[12],[13],[17]}

Fair Value

2,142

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, FedHC InvestCo LP, Industry Aerospace and Defense One

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

9,488

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, GCOM InvestCo LP, Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[12],[13],[17]}

Par / Shares

19,184

^{[5],[6],[12],[13],[17]}

Cost

3,342

^{[5],[6],[12],[13],[17]}

Fair Value

4,626

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Media: Broadcasting and Subscription

^{[5],[6],[13],[17]}

Par / Shares

500

^{[5],[6],[13],[17]}

Cost

144

^{[5],[6],[13],[17]}

Fair Value

2,471

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Gauge Lash Coinvest LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^{[5],[6],[13],[17]}

Par / Shares

1,485,953

^{[5],[6],[13],[17]}

Cost

227

^{[5],[6],[13],[17]}

Fair Value

7,030

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[5],[6],[13],[17]}

Par / Shares

465

^{[5],[6],[13],[17]}

Cost

476

^{[5],[6],[13],[17]}

Fair Value

496

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

391,144

^[5],[6],[17]

Fair Value

1,558

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Building Products

^{[5],[6],[12],[13],[17]}

Par / Shares

324,675

^{[5],[6],[12],[13],[17]}

Cost

325

^{[5],[6],[12],[13],[17]}

Fair Value

377

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, HV Watterson Holdings, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

100,000

^[5],[6],[17]

Cost

100

^[5],[6],[17]

Fair Value

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Insurance

^{[5],[6],[12],[13],[17]}

Par / Shares

450,000

^{[5],[6],[12],[13],[17]}

Cost

450

^{[5],[6],[12],[13],[17]}

Fair Value

477

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Consumer Services

^{[5],[6],[12],[13],[17]}

Par / Shares

1,000

^{[5],[6],[12],[13],[17]}

Cost

1,000

^{[5],[6],[12],[13],[17]}

Fair Value

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^[5],[6],[17]

Par / Shares

81,313

^[5],[6],[17]

Cost

813

^[5],[6],[17]

Fair Value

857

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare and Pharmaceuticals

^{[5],[6],[12],[13],[17]}

Par / Shares

46,763

^{[5],[6],[12],[13],[17]}

Cost

117

^{[5],[6],[12],[13],[17]}

Fair Value

5,232

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^[5],[6],[17]

Par / Shares

1,851,852

^[5],[6],[17]

Cost

1,852

^[5],[6],[17]

Fair Value

1,989

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Internet Software and Services

^{[5],[6],[13],[14],[17]}

Par / Shares

648,148

^{[5],[6],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Imagine Topco, LP (Common), Industry Software

Schedule Of Investments [Line Items]

Industry

Software

^[5],[6],[17]

Par / Shares

1,236,027

^[5],[6],[17]

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[12],[13],[17]}

Par / Shares

5,811

^{[5],[6],[12],[13],[17]}

Cost

573

^{[5],[6],[12],[13],[17]}

Fair Value

754

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Wholesale

^{[5],[6],[12],[13],[17]}

Par / Shares

1,948

^{[5],[6],[12],[13],[17]}

Cost

568

^{[5],[6],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Energy Equipment and Services

^{[5],[6],[12],[13],[17]}

Par / Shares

382,353

^{[5],[6],[12],[13],[17]}

Cost

382

^{[5],[6],[12],[13],[17]}

Fair Value

643

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Hotels, Restaurants and Leisure

^{[5],[6],[12],[13],[17]}

Par / Shares

87,345

^{[5],[6],[12],[13],[17]}

Fair Value

961

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Kinetic Purchaser, LLC, Industry Personal Products

Schedule Of Investments [Line Items]

Industry

Personal Products

^[5],[6],[17]

Par / Shares

1,734,775

^[5],[6],[17]

Cost

1,735

^[5],[6],[17]

Fair Value

2,458

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^{[5],[6],[13],[17]}

Par / Shares

585,587

^{[5],[6],[13],[17]}

Cost

586

^{[5],[6],[13],[17]}

Fair Value

800

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, MDI Aggregator, LP, Industry Commodity Chemicals

Schedule Of Investments [Line Items]

Industry

Commodity Chemicals

^[5],[6],[17]

Par / Shares

668,747

^[5],[6],[17]

Cost

670

^[5],[6],[17]

Fair Value

669

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Media: Advertising, Printing and Publishing

^[5],[6],[17]

Par / Shares

3,988

^[5],[6],[17]

Cost

1,288

^[5],[6],[17]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

835

^{[5],[6],[13],[17]}

Fair Value

255

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Meadowlark Title, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

819,231

^[5],[6],[17]

Cost

819

^[5],[6],[17]

Fair Value

901

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Municipal Emergency Services, Inc, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^{[5],[6],[13],[17]}

Par / Shares

1,973,370

^{[5],[6],[13],[17]}

Cost

2,005

^{[5],[6],[13],[17]}

Fair Value

1,505

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Leisure Products

^{[5],[6],[12],[13],[17]}

Par / Shares

1,494

^{[5],[6],[12],[13],[17]}

Cost

1,450

^{[5],[6],[12],[13],[17]}

Fair Value

279

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[13],[17]}

Par / Shares

14,960

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Fair Value

310

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Technology

^[5],[6],[17]

Par / Shares

223,602

^[5],[6],[17]

Cost

224

^[5],[6],[17]

Fair Value

237

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, OHCP V BC COI, L.P, Industry Distributors

Schedule Of Investments [Line Items]

Industry

Distributors

^[5],[6],[17]

Par / Shares

743,750

^[5],[6],[17]

Cost

744

^[5],[6],[17]

Fair Value

636

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, OHCP V BC COI, L.P, Industry Distributors One

Schedule Of Investments [Line Items]

Industry

Distributors

^{[5],[6],[12],[14],[17]}

Par / Shares

506,250

^{[5],[6],[12],[14],[17]}

Fair Value

(73)

^{[5],[6],[7],[12],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[5],[6],[13],[17]}

Par / Shares

1,474

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Fair Value

261

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

173,638

^{[5],[6],[12],[13],[17]}

Cost

1,729

^{[5],[6],[12],[13],[17]}

Fair Value

2,917

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[5],[6],[12],[13],[17]}

Par / Shares

3,872

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

231

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Financial Services

^{[5],[6],[13],[17]}

Par / Shares

11,167,847

^{[5],[6],[13],[17]}

Cost

11,168

^{[5],[6],[13],[17]}

Fair Value

9,892

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6],[17]

Par / Shares

1,735

^[5],[6],[17]

Cost

1,735

^[5],[6],[17]

Fair Value

914

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Pragmatic Institute, LLC, Industry Professional Services

Schedule Of Investments [Line Items]

Industry

Professional Services

^[5],[6],[17]

Par / Shares

610,583

^[5],[6],[17]

Cost

611

^[5],[6],[17]

Fair Value

611

^{[5],[6],[7],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, QuantiTech InvestCo 1 LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[14],[17]}

Par / Shares

955

^{[5],[6],[12],[13],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, QuantiTech InvestCo II LP, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, QuantiTech InvestCo LP, Industry Aerospace and Defens

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

712

^{[5],[6],[12],[13],[17]}

Cost

^{[5],[6],[12],[13],[17]}

Fair Value

352

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Equipment and Supplies

^{[5],[6],[13],[17]}

Par / Shares

1,050,000

^{[5],[6],[13],[17]}

Cost

1,050

^{[5],[6],[13],[17]}

Fair Value

1,091

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Professional Services

^{[5],[6],[12],[13],[17]}

Par / Shares

64,634

^{[5],[6],[12],[13],[17]}

Cost

646

^{[5],[6],[12],[13],[17]}

Fair Value

634

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Leisure Products

^[5],[6],[17]

Par / Shares

360,103

^[5],[6],[17]

Cost

360

^[5],[6],[17]

Fair Value

373

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Capital Equipment

^{[5],[6],[13],[17]}

Par / Shares

500

^{[5],[6],[13],[17]}

Cost

500

^{[5],[6],[13],[17]}

Fair Value

680

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Capital Equipment

^{[5],[6],[13],[17]}

Par / Shares

500

^{[5],[6],[13],[17]}

Fair Value

1,463

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, Seaway Topco, LP, Industry Chemicals, Plastics and Rubber

Schedule Of Investments [Line Items]

Industry

Chemicals, Plastics and Rubber

^[5],[6],[17]

Par / Shares

296

^[5],[6],[17]

Cost

296

^[5],[6],[17]

Fair Value

296

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[13],[17]}

Par / Shares

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, StellPen Holdings, LLC (CF512, Inc.), Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

161,538

^{[5],[6],[13],[17]}

Cost

162

^{[5],[6],[13],[17]}

Fair Value

160

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, TAC LifePort Holdings, LLC, Industry Aerospace and Defense

Schedule Of Investments [Line Items]

Industry

Aerospace and Defense

^{[5],[6],[12],[13],[17]}

Par / Shares

488,372

^{[5],[6],[12],[13],[17]}

Cost

488

^{[5],[6],[12],[13],[17]}

Fair Value

621

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[5],[6],[13],[15],[17],[20]}

Par / Shares

21,527

^{[5],[6],[13],[15],[17],[20]}

Cost

^{[5],[6],[13],[15],[17],[20]}

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[5],[6],[13],[17]}

Par / Shares

749

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Media

^[5],[6],[17]

Par / Shares

216,925

^[5],[6],[17]

Cost

209

^[5],[6],[17]

Fair Value

366

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[14],[17]}

Par / Shares

148,681

^{[5],[6],[12],[14],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, UniTek Global Services, Inc, Industry Telecommunications

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Par / Shares

213,739

^{[5],[6],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Par / Shares

23,889

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Common Equity/Warrants— 18.1%, UniVista Insurance, Industry Insurance

Schedule Of Investments [Line Items]

Industry

Insurance

^{[5],[6],[12],[13],[17]}

Par / Shares

400

^{[5],[6],[12],[13],[17]}

Cost

378

^{[5],[6],[12],[13],[17]}

Fair Value

454

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^{[5],[6],[14],[17]}

Par / Shares

237,743

^{[5],[6],[14],[17]}

Schedule Of Investments [Line Items]

Industry

Healthcare Providers and Services

^[5],[6],[17]

Par / Shares

3,762,257

^[5],[6],[17]

Cost

3,762

^[5],[6],[17]

Fair Value

3,762

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Electronic Equipment, Instruments, and Components

^{[5],[6],[12],[13],[17]}

Par / Shares

2,240

^{[5],[6],[12],[13],[17]}

Cost

224

^{[5],[6],[12],[13],[17]}

Fair Value

596

^{[5],[6],[7],[12],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Banking, Finance, Insurance & Real Estate

^{[5],[6],[13],[15],[17]}

Par / Shares

^{[5],[6],[13],[15],[17]}

Cost

251

^{[5],[6],[13],[15],[17]}

Fair Value

$ 348

^{[5],[6],[7],[13],[15],[17]}

Schedule Of Investments [Line Items]

Maturity

May 11, 2026

^[5],[6]

May 11, 2026

^[5],[6]

Industry

Electronic Equipment, Instruments, and Components

^[5],[6]

Current Coupon

7.92%

^[5],[6]

7.92%

^[5],[6]

Basis point spread above index, Percentage

1M L+425

^[5],[6],[16]

Basis point spread above index, Amount

425.00%

^[5],[6],[16]

425.00%

^[5],[6],[16]

Par / Shares

$ 5,805

^[5],[6]

Cost

5,785

^[5],[6]

Fair Value

$ 5,050

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 06, 2026

^[5],[6]

May 06, 2026

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

9.67%

^[5],[6]

9.67%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 4,938

^[5],[6]

Cost

4,882

^[5],[6]

Fair Value

$ 4,900

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 06, 2026

^{[5],[6],[13],[14]}

May 06, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 1,244

^{[5],[6],[13],[14]}

Fair Value

$ (9)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

^{[5],[6],[13],[14]}

Jul. 24, 2025

^{[5],[6],[13],[14]}

Industry

IT Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,581

^{[5],[6],[13],[14]}

Fair Value

$ (55)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

^[5],[6],[13]

Jul. 24, 2025

^[5],[6],[13]

Industry

IT Services

^[5],[6],[13]

Current Coupon

11.67%

^[5],[6],[13]

11.67%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+800

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

800.00%

^{[5],[6],[13],[16]}

800.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 575

^[5],[6],[13]

Cost

575

^[5],[6],[13]

Fair Value

$ 555

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

^[5],[6]

Jul. 24, 2025

^[5],[6]

Industry

IT Services

^[5],[6]

Current Coupon

10.81%

^[5],[6]

10.81%

^[5],[6]

Basis point spread above index, Percentage

3M L+800

^[5],[6],[16]

Basis point spread above index, Amount

800.00%

^[5],[6],[16]

800.00%

^[5],[6],[16]

Par / Shares

$ 4,794

^[5],[6]

Cost

4,756

^[5],[6]

Fair Value

$ 4,626

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2023

^[5],[6]

Dec. 21, 2023

^[5],[6]

Industry

Building Products

^[5],[6]

Current Coupon

7.79%

^[5],[6]

7.79%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 7,601

^[5],[6]

Cost

7,559

^[5],[6]

Fair Value

$ 7,601

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Jun. 08, 2023

^[5],[6],[13]

Jun. 08, 2023

^[5],[6],[13]

Industry

Telecommunications

^[5],[6],[13]

Current Coupon

0.00%

^[5],[6],[13]

0.00%

^[5],[6],[13]

Par / Shares

$ 7,986

^[5],[6],[13]

Cost

7,915

^[5],[6],[13]

Fair Value

$ 90

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Jun. 10, 2025

^[5],[6]

Jun. 10, 2025

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^{[5],[6],[13],[14]}

May 23, 2024

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 2,869

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

^[5],[6]

May 23, 2024

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 14,568

^[5],[6]

Cost

14,486

^[5],[6]

Fair Value

$ 14,568

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^{[5],[6],[13],[14]}

Jul. 21, 2027

^{[5],[6],[13],[14]}

Industry

Energy Equipment and Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,147

^{[5],[6],[13],[14]}

Fair Value

$ (23)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

^[5],[6]

Jul. 21, 2027

^[5],[6]

Industry

Energy Equipment and Services

^[5],[6]

Current Coupon

7.43%

^[5],[6]

7.43%

^[5],[6]

Basis point spread above index, Percentage

3M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 10,536

^[5],[6]

Cost

10,432

^[5],[6]

Fair Value

$ 10,326

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^{[5],[6],[13],[14]}

Jul. 31, 2025

^{[5],[6],[13],[14]}

Industry

Diversified Consumer Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,845

^{[5],[6],[13],[14]}

Fair Value

$ (9)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[5],[6]

Jul. 31, 2025

^[5],[6]

Industry

Diversified Consumer Services

^[5],[6]

Current Coupon

9.67%

^[5],[6]

9.67%

^[5],[6]

Basis point spread above index, Percentage

1M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 296

^[5],[6]

Cost

296

^[5],[6]

Fair Value

$ 295

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Apex Services Partners, LLC Term Loan C, Maturity Date 07/31/2025 Industry Diversified Consumer Services, Current Coupon 6.25%, Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[5],[6]

Jul. 31, 2025

^[5],[6]

Industry

Diversified Consumer Services

^[5],[6]

Current Coupon

7.75%

^[5],[6]

7.75%

^[5],[6]

Basis point spread above index, Percentage

1M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 12,906

^[5],[6]

Cost

12,814

^[5],[6]

Fair Value

$ 12,841

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

^[5],[6]

Jul. 31, 2025

^[5],[6]

Industry

Diversified Consumer Services

^[5],[6]

Current Coupon

6.72%

^[5],[6]

6.72%

^[5],[6]

Basis point spread above index, Percentage

1M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 6,208

^[5],[6]

Cost

6,166

^[5],[6]

Fair Value

$ 6,177

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^{[5],[6],[13],[14]}

Dec. 29, 2026

^{[5],[6],[13],[14]}

Industry

Commercial Services & Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 1,018

^{[5],[6],[13],[14]}

Fair Value

$ (25)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^{[5],[6],[13],[14]}

Dec. 29, 2026

^{[5],[6],[13],[14]}

Industry

Commercial Services & Supplies

^{[5],[6],[13],[14]}

Current Coupon

10.25%

^[5],[6],[13]

10.25%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+475

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

475.00%

^{[5],[6],[13],[16]}

475.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 255

^[5],[6],[13]

Cost

255

^[5],[6],[13]

Fair Value

$ 248

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Applied Technical Services, LLC (Unfunded Term Loan) Maturity Date 04/21/2023 Industry Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

Apr. 21, 2023

^[5],[6]

Apr. 21, 2023

^[5],[6]

Industry

ommercial Services & Supplies

^[5],[6]

Par / Shares

$ 2,298

^[5],[6]

Fair Value

$ (32)

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Applied Technical Services, LLC Maturity Date 12/29/2026 Industry Commercial Services & Supplies Current Coupon 9.42% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[5],[6]

Dec. 29, 2026

^[5],[6]

Industry

Commercial Services & Supplies

^[5],[6]

Current Coupon

9.42%

^[5],[6]

9.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 7,147

^[5],[6]

Cost

7,040

^[5],[6]

Fair Value

$ 6,968

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Mar. 07, 2028

^{[5],[6],[13],[14]}

Mar. 07, 2028

^{[5],[6],[13],[14]}

Industry

Aerospace and Defense

^{[5],[6],[13],[14]}

Current Coupon

0.00%

^{[5],[6],[13],[14]}

0.00%

^{[5],[6],[13],[14]}

Par / Shares

$ 887

^[5],[6],[14]

Fair Value

$ 18

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

^[5],[6]

Jul. 01, 2029

^[5],[6]

Industry

Internet Software and Services

^[5],[6]

Current Coupon

7.76%

^[5],[6]

7.76%

^[5],[6]

Basis point spread above index, Percentage

1M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 5,000

^[5],[6]

Cost

4,901

^[5],[6]

Fair Value

$ 4,900

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^[5],[6],[13]

Sep. 17, 2024

^[5],[6],[13]

Industry

Distributors

^[5],[6],[13]

Current Coupon

8.87%

^[5],[6],[13]

8.87%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

500.00%

^{[5],[6],[13],[16]}

500.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 549

^[5],[6],[13]

Cost

549

^[5],[6],[13]

Fair Value

$ 533

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution, Inc Maturity Date 09/17/2024 Industry Distributors

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^{[5],[6],[13],[14]}

Sep. 17, 2024

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 3,232

^{[5],[6],[13],[14]}

Fair Value

$ (40)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution, Inc Maturity Date 09/17/2024 Industry Distributors Current Coupon 8.33% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^[5],[6]

Sep. 17, 2024

^[5],[6]

Industry

Distributors

^[5],[6]

Current Coupon

8.33%

^[5],[6]

8.33%

^[5],[6]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[16]

Basis point spread above index, Amount

500.00%

^[5],[6],[16]

500.00%

^[5],[6],[16]

Par / Shares

$ 25

^[5],[6]

Cost

^[5],[6]

Fair Value

$ 25

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Blackhawk Industrial Distribution, Inc Maturity Date 09/17/2024 Industry Distributors One

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

^[5],[6],[14]

Sep. 17, 2024

^[5],[6],[14]

Industry

Distributors

^[5],[6],[14]

Par / Shares

$ 2,195

^[5],[6],[14]

Fair Value

$ 62

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2022

^[5],[6]

Dec. 02, 2022

^[5],[6]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6]

Current Coupon

7.39%

^[5],[6]

7.39%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 3,405

^[5],[6]

Cost

3,405

^[5],[6]

Fair Value

$ 3,405

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

^[5],[6],[13]

May 16, 2024

^[5],[6],[13]

Industry

High Tech Industries

^[5],[6],[13]

Current Coupon

9.75%

^[5],[6],[13]

9.75%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+663

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

663.00%

^{[5],[6],[13],[16]}

663.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 877

^[5],[6],[13]

Cost

877

^[5],[6],[13]

Fair Value

$ 868

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% By Light Professional IT Services, LLC (Revolver), Maturity Date 05/16/2024 Industry High Tech Industries

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

^[5],[6],[14]

May 16, 2024

^[5],[6],[14]

Industry

High Tech Industries

^[5],[6],[14]

Par / Shares

$ 3,189

^[5],[6],[14]

Fair Value

$ (32)

^{[5],[6],[7],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% By Light Professional IT Services, LLC Maturity Date 05/16/2024 Industry High Tech Industries Current Coupon 9.26% Basis Point Spread Above Index 3M L+625

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

^[5],[6]

May 16, 2024

^[5],[6]

Industry

High Tech Industries

^[5],[6]

Current Coupon

9.26%

^[5],[6]

9.26%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6],[16]

Basis point spread above index, Amount

625.00%

^[5],[6],[16]

625.00%

^[5],[6],[16]

Par / Shares

$ 27,533

^[5],[6]

Cost

27,331

^[5],[6]

Fair Value

$ 27,257

^[5],[6],[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% CF512,Inc Maturity Date 08/20/2026 Industry Media

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^{[5],[6],[13],[14]}

Aug. 20, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 191

^{[5],[6],[13],[14]}

Fair Value

$ (1)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

^[5],[6]

Aug. 20, 2026

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

9.28%

^[5],[6]

9.28%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 8,098

^[5],[6]

Cost

7,988

^[5],[6]

Fair Value

$ 7,976

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

^[5],[6]

Apr. 10, 2025

^[5],[6]

Industry

Environmental Industries

^[5],[6]

Current Coupon

8.17%

^[5],[6]

8.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+450

^[5],[6],[16]

Basis point spread above index, Amount

450.00%

^[5],[6],[16]

450.00%

^[5],[6],[16]

Par / Shares

$ 1,581

^[5],[6]

Cost

1,577

^[5],[6]

Fair Value

$ 1,581

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

^[5],[6],[13]

Nov. 14, 2023

^[5],[6],[13]

Industry

Aerospace and Defense

^[5],[6],[13]

Current Coupon

11.31%

^[5],[6],[13]

11.31%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+850

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

850.00%

^{[5],[6],[13],[16]}

850.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 3,033

^[5],[6],[13]

Cost

3,024

^[5],[6],[13]

Fair Value

$ 3,003

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

^{[5],[6],[13],[14]}

May 13, 2028

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Fair Value

$ 14

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

^[5],[6],[13]

May 13, 2028

^[5],[6],[13]

Industry

Distributors

^[5],[6],[13]

Current Coupon

9.55%

^[5],[6],[13]

9.55%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+600

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[13],[16]}

600.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 511

^[5],[6],[13]

Cost

511

^[5],[6],[13]

Fair Value

$ 503

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

^[5],[6]

May 13, 2028

^[5],[6]

Industry

Distributors

^[5],[6]

Current Coupon

9.55%

^[5],[6]

9.55%

^[5],[6]

Basis point spread above index, Percentage

1M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 16,459

^[5],[6]

Cost

16,143

^[5],[6]

Fair Value

$ 16,212

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2023

^{[5],[6],[13],[14]}

Aug. 31, 2023

^{[5],[6],[13],[14]}

Industry

Business Services

^{[5],[6],[13],[14]}

Par / Shares

$ 356

^{[5],[6],[13],[14]}

Fair Value

$ (11)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2023

^{[5],[6],[13],[14]}

Aug. 31, 2023

^{[5],[6],[13],[14]}

Industry

Business Services

^{[5],[6],[13],[14]}

Current Coupon

9.27%

^{[5],[6],[13],[14]}

9.27%

^{[5],[6],[13],[14]}

Basis point spread above index, Percentage

1M L+675

^{[5],[6],[13],[14],[16]}

Basis point spread above index, Amount

675.00%

^{[5],[6],[13],[14],[16]}

675.00%

^{[5],[6],[13],[14],[16]}

Par / Shares

$ 357

^{[5],[6],[13],[14]}

Cost

357

^{[5],[6],[13],[14]}

Fair Value

$ 346

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Feb. 09, 2026

^[5],[6]

Feb. 09, 2026

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

8.83%

^[5],[6]

8.83%

^[5],[6]

Basis point spread above index, Percentage

3M L+525

^[5],[6],[16]

Basis point spread above index, Amount

525.00%

^[5],[6],[16]

525.00%

^[5],[6],[16]

Par / Shares

$ 8,038

^[5],[6]

Cost

8,010

^[5],[6]

Fair Value

$ 8,038

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^{[5],[6],[13],[14]}

Feb. 07, 2025

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 633

^{[5],[6],[13],[14]}

Fair Value

$ 0

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Feb. 07, 2025

^[5],[6],[13]

Feb. 07, 2025

^[5],[6],[13]

Industry

Professional Services

^[5],[6],[13]

Current Coupon

8.92%

^[5],[6],[13]

8.92%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+525

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

525.00%

^{[5],[6],[13],[16]}

525.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 773

^[5],[6],[13]

Cost

773

^[5],[6],[13]

Fair Value

$ 773

^{[5],[6],[7],[13]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Connatix Buyer,Inc Maturity Date 07/13/2023 Industry Media

Schedule Of Investments [Line Items]

Maturity

Jan. 13, 2023

^{[5],[6],[13],[14]}

Jan. 13, 2023

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 2,105

^{[5],[6],[13],[14]}

Fair Value

$ (32)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Connatix Buyer,Inc, Maturity Date 07/13/2027 Industry Media

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^{[5],[6],[13],[14]}

Jul. 13, 2027

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 1,234

^{[5],[6],[13],[14]}

Fair Value

$ (30)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

^[5],[6]

Jul. 13, 2027

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

8.42%

^[5],[6]

8.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 3,907

^[5],[6]

Cost

3,841

^[5],[6]

Fair Value

$ 3,810

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[5],[6]

Aug. 16, 2027

^[5],[6]

Industry

Commercial Services & Supplies

^[5],[6]

Current Coupon

9.39%

^[5],[6]

9.39%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 891

^[5],[6]

Cost

885

^[5],[6]

Fair Value

$ 882

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% HW Holdco LLC Maturity Date 12/10/2024 Industry Media

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[5],[6]

Dec. 10, 2024

^[5],[6]

Industry

Media

^[5],[6],[14]

Par / Shares

$ 1,686

^[5],[6],[14]

Fair Value

$ (4)

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[5],[6]

Dec. 10, 2024

^[5],[6]

Industry

Media

^[5],[6]

Par / Shares

$ 1,452

^[5],[6]

Fair Value

$ (18)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Dec. 30, 2026

^[5],[6]

Dec. 30, 2026

^[5],[6]

Industry

Healthcare Equipment and Supplies

^[5],[6]

Current Coupon

10.44%

^[5],[6]

10.44%

^[5],[6]

Basis point spread above index, Percentage

3M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 5,723

^[5],[6]

Cost

5,616

^[5],[6]

Fair Value

$ 5,506

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2028

^[5],[6],[13]

Sep. 22, 2028

^[5],[6],[13]

Industry

Professional Services

^[5],[6],[13]

Current Coupon

9.45%

^[5],[6],[13]

9.45%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+600

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[13],[16]}

600.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 4,473

^[5],[6],[13]

Cost

4,390

^[5],[6],[13]

Fair Value

$ 4,429

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Dec. 07, 2023

^[5],[6]

Dec. 07, 2023

^[5],[6]

Industry

Healthcare Providers and Services

^[5],[6]

Current Coupon

10.13%

^[5],[6]

10.13%

^[5],[6]

Basis point spread above index, Percentage

3M L+715

^[5],[6]

Basis point spread above index, Amount

715.00%

^[5],[6]

715.00%

^[5],[6]

Par / Shares

$ 14,954

^[5],[6]

Cost

14,711

^[5],[6]

Fair Value

$ 14,804

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^{[5],[6],[13],[14]}

Mar. 03, 2028

^{[5],[6],[13],[14]}

Industry

IT Services

^{[5],[6],[13],[14]}

Par / Shares

$ 532

^{[5],[6],[13],[14]}

Fair Value

$ (11)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

^[5],[6]

Mar. 03, 2028

^[5],[6]

Industry

IT Services

^[5],[6]

Current Coupon

8.25%

^[5],[6]

8.25%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 133

^[5],[6]

Cost

133

^[5],[6]

Fair Value

$ 130

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Sep. 22, 2027

^{[5],[6],[13],[14]}

Sep. 22, 2027

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 477

^{[5],[6],[13],[14]}

Fair Value

$ 5

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[14]

Nov. 15, 2027

^[14]

Industry

Software

^[14]

Par / Shares

$ 1,193

^[14]

Fair Value

$ 30

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[5],[6],[14]

Nov. 15, 2027

^[5],[6],[14]

Industry

Software

^[5],[6],[14]

Par / Shares

$ 1,657

^[5],[6],[14]

Fair Value

$ 25

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

^[5],[6]

Nov. 15, 2027

^[5],[6]

Industry

Software

^[5],[6]

Current Coupon

8.42%

^[5],[6]

8.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 3,979

^[5],[6]

Cost

3,909

^[5],[6]

Fair Value

$ 3,879

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Dec. 30, 2026

^[5],[6],[14]

Dec. 30, 2026

^[5],[6],[14]

Industry

Healthcare Equipment and Supplies

^[5],[6],[14]

Par / Shares

$ 4,167

^[5],[6],[14]

Fair Value

$ (188)

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Infolinks Media Buyco, LLC Maturity 11/1/2023 Industry Media

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2023

^{[5],[6],[13],[15],[20]}

Nov. 01, 2023

^{[5],[6],[13],[15],[20]}

Industry

Media

^{[5],[6],[13],[15],[20]}

Current Coupon

0.00%

^{[5],[6],[13],[15],[20]}

0.00%

^{[5],[6],[13],[15],[20]}

Par / Shares

$ 969

^[5],[6],[14]

Fair Value

$ 10

^[5],[6],[14]

Schedule Of Investments [Line Items]

Maturity

Nov. 01, 2026

^{[5],[6],[15],[20]}

Nov. 01, 2026

^{[5],[6],[15],[20]}

Industry

Media

^{[5],[6],[15],[20]}

Current Coupon

9.42%

^{[5],[6],[15],[20]}

9.42%

^{[5],[6],[15],[20]}

Basis point spread above index, Percentage

3M L+575

^{[5],[6],[15],[20]}

Basis point spread above index, Amount

575.00%

^{[5],[6],[15],[20]}

575.00%

^{[5],[6],[15],[20]}

Par / Shares

$ 2,625

^{[5],[6],[15],[20]}

Cost

2,581

^{[5],[6],[15],[20]}

Fair Value

$ 2,625

^{[5],[6],[15],[20]}

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2023

^{[5],[6],[13],[14]}

Sep. 29, 2023

^{[5],[6],[13],[14]}

Industry

Consumer Services

^{[5],[6],[13],[14]}

Par / Shares

$ 5,000

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2023

^[5],[6]

Sep. 29, 2023

^[5],[6]

Industry

Consumer Services

^[5],[6]

Current Coupon

8.42%

^[5],[6]

8.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+450

^[5],[6]

Basis point spread above index, Amount

450.00%

^[5],[6]

450.00%

^[5],[6]

Par / Shares

$ 15,636

^[5],[6]

Cost

15,600

^[5],[6]

Fair Value

$ 15,323

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2025

^[5],[6],[13]

Aug. 27, 2025

^[5],[6],[13]

Industry

Insurance

^[5],[6],[13]

Current Coupon

7.58%

^[5],[6],[13]

7.58%

^[5],[6],[13]

Basis point spread above index, Percentage

SOFR+550

^[5],[6],[13]

Par / Shares

$ 15,825

^[5],[6],[13]

Cost

15,697

^[5],[6],[13]

Fair Value

$ 15,667

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

^{[5],[6],[13],[14]}

Dec. 20, 2023

^{[5],[6],[13],[14]}

Industry

Chemicals, Plastics and Rubber

^{[5],[6],[13],[14]}

Par / Shares

$ 1,429

^{[5],[6],[13],[14]}

Fair Value

$ 0

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2026

^[5],[6],[14]

Nov. 10, 2026

^[5],[6],[14]

Industry

Personal Products

^[5],[6],[14]

Current Coupon

9.67%

^[5],[6],[14]

9.67%

^[5],[6],[14]

Basis point spread above index, Percentage

3M L+600

^{[5],[6],[14],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[14],[16]}

600.00%

^{[5],[6],[14],[16]}

Par / Shares

$ 3,435

^[5],[6],[14]

Cost

3,435

^[5],[6],[14]

Fair Value

$ 3,366

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

^[5],[6]

Nov. 10, 2027

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

9.67%

^[5],[6]

9.67%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6]

Basis point spread above index, Amount

600.00%

^[5],[6]

600.00%

^[5],[6]

Par / Shares

$ 17,428

^[5],[6]

Cost

17,120

^[5],[6]

Fair Value

$ 17,079

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[5],[6],[13]

Nov. 09, 2026

^[5],[6],[13]

Industry

Leisure Products

^[5],[6],[13]

Current Coupon

0.00%

^[5],[6],[13]

0.00%

^[5],[6],[13]

Par / Shares

$ 789

^[5],[6]

Fair Value

$ (12)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2026

^[5],[6]

Nov. 09, 2026

^[5],[6]

Industry

Leisure Products

^[5],[6]

Current Coupon

9.92%

^[5],[6]

9.92%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6]

Basis point spread above index, Amount

625.00%

^[5],[6]

625.00%

^[5],[6]

Par / Shares

$ 3,747

^[5],[6]

Cost

3,683

^[5],[6]

Fair Value

$ 3,691

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^[5],[6]

Feb. 03, 2026

^[5],[6]

Industry

Healthcare Technology

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

1M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 24,357

^[5],[6]

Cost

24,065

^[5],[6]

Fair Value

$ 23,566

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^{[5],[6],[13],[14]}

Feb. 03, 2026

^{[5],[6],[13],[14]}

Industry

Healthcare Technology

^{[5],[6],[13],[14]}

Par / Shares

$ 1,416

^{[5],[6],[13],[14]}

Fair Value

$ (46)

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

^[5],[6],[13]

Feb. 03, 2026

^[5],[6],[13]

Industry

Healthcare Technology

^[5],[6],[13]

Current Coupon

8.87%

^[5],[6],[13]

8.87%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+575

^[5],[6],[13]

Basis point spread above index, Amount

575.00%

^[5],[6],[13]

575.00%

^[5],[6],[13]

Par / Shares

$ 1,083

^[5],[6],[13]

Cost

1,083

^[5],[6],[13]

Fair Value

$ 1,048

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

^[5],[6]

Jul. 20, 2027

^[5],[6]

Industry

Hotels, Restaurants and Leisure

^[5],[6]

Current Coupon

8.31%

^[5],[6]

8.31%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 4,331

^[5],[6]

Cost

4,258

^[5],[6]

Fair Value

$ 3,183

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2027

^[5],[6]

Apr. 01, 2027

^[5],[6]

Industry

Aerospace and Defense

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 3,714

^[5],[6]

Cost

3,576

^[5],[6]

Fair Value

$ 3,379

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

^{[5],[6],[13],[14]}

Apr. 16, 2027

^{[5],[6],[13],[14]}

Industry

Internet Software and Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,157

^{[5],[6],[13],[14]}

Fair Value

$ (12)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^{[5],[6],[13],[14]}

Jul. 25, 2028

^{[5],[6],[13],[14]}

Industry

Commodity Chemicals

^{[5],[6],[13],[14]}

Par / Shares

$ 1,804

^{[5],[6],[13],[14]}

Fair Value

$ 18

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

^[5],[6],[14]

Jul. 25, 2028

^[5],[6],[14]

Industry

Commodity Chemicals

^[5],[6],[14]

Par / Shares

$ 773

^[5],[6],[14]

Fair Value

$ (8)

^[5],[6],[14]

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^{[5],[6],[13],[14]}

May 14, 2026

^{[5],[6],[13],[14]}

Industry

Media

^{[5],[6],[13],[14]}

Par / Shares

$ 1,624

^{[5],[6],[13],[14]}

Fair Value

$ (8)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[5],[6]

May 14, 2026

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

8.62%

^[5],[6]

8.62%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 6,052

^[5],[6]

Cost

5,958

^[5],[6]

Fair Value

$ 6,022

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^{[5],[6],[13],[14]}

Dec. 10, 2027

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,693

^{[5],[6],[13],[14]}

Fair Value

$ (17)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[5],[6]

Dec. 10, 2027

^[5],[6]

Industry

Professional Services

^[5],[6]

Par / Shares

$ 1,782

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Meadowlark Acquirer, LLC - Term Loan II Maturity 12/10/2027 Industry Professional Services

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[5],[6]

Dec. 10, 2027

^[5],[6]

Industry

Professional Services

^[5],[6]

Par / Shares

$ 9,483

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

^[5],[6]

Dec. 10, 2027

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 1,319

^[5],[6]

Cost

1,306

^[5],[6]

Fair Value

$ 1,305

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[5],[6]

Mar. 28, 2024

^[5],[6]

Industry

Capital Equipment

^[5],[6]

Par / Shares

$ 883

^[5],[6]

Fair Value

$ (7)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[5],[6]

Mar. 28, 2024

^[5],[6]

Industry

Capital Equipment

^[5],[6]

Current Coupon

8.03%

^[5],[6]

8.03%

^[5],[6]

Basis point spread above index, Percentage

SOFR +500

^[5],[6]

Basis point spread above index, Amount

500.00%

^[5],[6]

500.00%

^[5],[6]

Par / Shares

$ 3,430

^[5],[6]

Cost

3,395

^[5],[6]

Fair Value

$ 3,389

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^{[5],[6],[13],[14]}

Mar. 28, 2024

^{[5],[6],[13],[14]}

Industry

Capital Equipment

^{[5],[6],[13],[14]}

Par / Shares

$ 769

^{[5],[6],[13],[14]}

Fair Value

$ (9)

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

^[5],[6],[13]

Mar. 28, 2024

^[5],[6],[13]

Industry

Capital Equipment

^[5],[6],[13]

Current Coupon

6.67%

^[5],[6],[13]

6.67%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+500

^[5],[6],[13]

Basis point spread above index, Amount

500.00%

^[5],[6],[13]

500.00%

^[5],[6],[13]

Par / Shares

$ 557

^[5],[6],[13]

Cost

557

^[5],[6],[13]

Fair Value

$ 550

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^{[5],[6],[13],[14]}

Sep. 28, 2027

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 805

^{[5],[6],[13],[14]}

Fair Value

$ (47)

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^{[5],[6],[13],[14]}

Sep. 28, 2027

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Current Coupon

8.67%

^[5],[6],[13]

8.67%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[13]

Basis point spread above index, Amount

500.00%

^[5],[6],[13]

500.00%

^[5],[6],[13]

Par / Shares

$ 142

^{[5],[6],[13],[14]}

Cost

142

^[5],[6],[13]

Fair Value

$ 134

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^{[5],[6],[13],[14]}

Sep. 28, 2027

^{[5],[6],[13],[14]}

Industry

Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 592

^{[5],[6],[13],[14]}

Fair Value

$ (29)

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Municipal Emergency Services, Inc. Maturity 09/28/2027 Industry Distributors Current Coupon 8.67% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

^[5],[6],[13]

Sep. 28, 2027

^[5],[6],[13]

Industry

Distributors

^[5],[6],[13]

Current Coupon

8.67%

^[5],[6],[13]

8.67%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[13]

Basis point spread above index, Amount

500.00%

^[5],[6],[13]

500.00%

^[5],[6],[13]

Par / Shares

$ 354

^[5],[6],[13]

Cost

351

^[5],[6],[13]

Fair Value

$ 334

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

^{[5],[6],[13],[14]}

Aug. 19, 2026

^{[5],[6],[13],[14]}

Industry

Healthcare Equipment and Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 1,677

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 09, 2026

^{[5],[6],[13],[14]}

Jul. 09, 2026

^{[5],[6],[13],[14]}

Industry

Healthcare Equipment and Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 444

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 09, 2026

^[5],[6]

Jul. 09, 2026

^[5],[6]

Industry

Healthcare Equipment and Supplies

^[5],[6]

Current Coupon

9.45%

^[5],[6]

9.45%

^[5],[6]

Basis point spread above index, Percentage

SOFR + 575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 1,975

^[5],[6]

Cost

1,951

^[5],[6]

Fair Value

$ 1,975

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^[5],[6]

Sep. 03, 2027

^[5],[6]

Industry

Consumer Finance

^[5],[6]

Par / Shares

$ 861

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

^[5],[6],[13]

Sep. 03, 2027

^[5],[6],[13]

Industry

Consumer Finance

^[5],[6],[13]

Current Coupon

8.92%

^[5],[6],[13]

8.92%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+525

^[5],[6],[13]

Basis point spread above index, Amount

525.00%

^[5],[6],[13]

525.00%

^[5],[6],[13]

Par / Shares

$ 7,195

^[5],[6],[13]

Cost

7,069

^[5],[6],[13]

Fair Value

$ 7,195

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

^[5],[6]

May 07, 2027

^[5],[6]

Industry

Air Freight and Logistics

^[5],[6]

Current Coupon

9.37%

^[5],[6]

9.37%

^[5],[6]

Basis point spread above index, Percentage

3M L+625

^[5],[6]

Basis point spread above index, Amount

625.00%

^[5],[6]

625.00%

^[5],[6]

Par / Shares

$ 8,759

^[5],[6]

Cost

8,612

^[5],[6]

Fair Value

$ 8,496

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 27, 2024

^[5],[6]

Mar. 27, 2024

^[5],[6]

Industry

Business Services

^[5],[6]

Current Coupon

9.80%

^[5],[6]

9.80%

^[5],[6]

Basis point spread above index, Percentage

1M L+675

^[5],[6]

Basis point spread above index, Amount

675.00%

^[5],[6]

675.00%

^[5],[6]

Par / Shares

$ 4,874

^[5],[6]

Cost

4,592

^[5],[6]

Fair Value

$ 3,704

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

^[5],[6]

Feb. 04, 2028

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

8.41%

^[5],[6]

8.41%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 3,990

^[5],[6]

Cost

3,874

^[5],[6]

Fair Value

$ 3,890

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[5],[6]

May 18, 2026

^[5],[6]

Industry

Construction and Building

^[5],[6]

Par / Shares

$ 903

^[5],[6]

Fair Value

$ (18)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[5],[6]

May 18, 2026

^[5],[6]

Industry

Construction and Building

^[5],[6]

Current Coupon

9.81%

^[5],[6]

9.81%

^[5],[6]

Basis point spread above index, Percentage

1M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 2,484

^[5],[6]

Cost

2,484

^[5],[6]

Fair Value

$ 2,434

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

^[5],[6]

May 18, 2026

^[5],[6]

Industry

Construction and Building

^[5],[6]

Current Coupon

9.81%

^[5],[6]

9.81%

^[5],[6]

Basis point spread above index, Percentage

1M L+700

^[5],[6]

Basis point spread above index, Amount

700.00%

^[5],[6]

700.00%

^[5],[6]

Par / Shares

$ 25,772

^[5],[6]

Cost

25,440

^[5],[6]

Fair Value

$ 25,257

^[5],[6]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% PL Acquisitionco, LLC - (Revolver) Maturity 11/09/2027

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

^[5],[6]

Nov. 09, 2027

^[5],[6]

Industry

Textiles, Apparel and Luxury Goods

^[5],[6]

Par / Shares

$ 2,290

^[5],[6]

Fair Value

$ (57)

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Aug. 07, 2025

^[5],[6]

Aug. 07, 2025

^[5],[6]

Industry

Business Services

^[5],[6]

Current Coupon

14.17%

^[5],[6]

14.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+1,050

^[5],[6]

Basis point spread above index, Amount

1050.00%

^[5],[6]

1050.00%

^[5],[6]

Par / Shares

$ 3,323

^[5],[6]

Cost

2,903

^[5],[6]

Fair Value

$ 3,323

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 637

^[5],[6]

Cost

637

^[5],[6]

Fair Value

$ 637

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

^[5],[6]

May 08, 2026

^[5],[6]

Industry

Leisure Products

^[5],[6]

Current Coupon

9.17%

^[5],[6]

9.17%

^[5],[6]

Basis point spread above index, Percentage

1M L+550

^[5],[6]

Basis point spread above index, Amount

550.00%

^[5],[6]

550.00%

^[5],[6]

Par / Shares

$ 3,440

^[5],[6]

Cost

3,419

^[5],[6]

Fair Value

$ 3,078

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^{[5],[6],[13],[14]}

Jul. 06, 2028

^{[5],[6],[13],[14]}

Industry

Professional Services

^{[5],[6],[13],[14]}

Par / Shares

$ 1,221

^{[5],[6],[13],[14]}

Fair Value

$ (12)

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[5],[6]

Jul. 06, 2028

^[5],[6]

Industry

Professional Services

^[5],[6]

Current Coupon

9.30%

^[5],[6]

9.30%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6]

Basis point spread above index, Amount

575.00%

^[5],[6]

575.00%

^[5],[6]

Par / Shares

$ 305

^[5],[6]

Cost

305

^[5],[6]

Fair Value

$ 302

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

^[5],[6]

Jul. 06, 2028

^[5],[6]

Industry

Professional Services

^[5],[6]

Par / Shares

$ 2,290

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

9.92%

Basis point spread above index, Percentage

1M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 4,706

Cost

4,632

Fair Value

$ 4,612

^[7]

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[13],[14]

Nov. 19, 2026

^[13],[14]

Industry

Electronic Equipment, Instruments, and Components

^[13],[14]

Par / Shares

$ 402

^[13],[14]

Fair Value

$ (8)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[13]

Nov. 19, 2026

^[13]

Industry

Electronic Equipment, Instruments, and Components

^[13]

Current Coupon

9.51%

^[13]

9.51%

^[13]

Basis point spread above index, Percentage

1M L+600

^[13],[16]

Basis point spread above index, Amount

600.00%

^[13],[16]

600.00%

^[13],[16]

Par / Shares

$ 268

^[13]

Cost

268

^[13]

Fair Value

$ 263

^[7],[13]

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

Industry

Media: Diversified and Production

Current Coupon

7.45%

Basis point spread above index, Percentage

3M L+500

^[16]

Basis point spread above index, Amount

500.00%

^[16]

500.00%

^[16]

Par / Shares

$ 7,200

Cost

7,146

Fair Value

$ 7,056

^[7]

Schedule Of Investments [Line Items]

Maturity

Sep. 09, 2024

^[13],[14]

Sep. 09, 2024

^[13],[14]

Industry

Media: Diversified and Production

^[13],[14]

Par / Shares

$ 1,197

^[13],[14]

Fair Value

$ (24)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13]

Dec. 18, 2025

^[13]

Industry

Healthcare Equipment and Supplies

^[13]

Current Coupon

7.75%

^[13]

7.75%

^[13]

Basis point spread above index, Percentage

3M L+550

^[13],[16]

Basis point spread above index, Amount

550.00%

^[13],[16]

550.00%

^[13],[16]

Par / Shares

$ 1,040

^[13]

Cost

1,040

^[13]

Fair Value

$ 1,040

^[7],[13]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13],[14]

Dec. 18, 2025

^[13],[14]

Industry

Healthcare Equipment and Supplies

^[13],[14]

Par / Shares

$ 525

^[13],[14]

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

Industry

Leisure Products

Current Coupon

9.92%

Basis point spread above index, Percentage

3M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 1,478

Cost

1,457

Fair Value

$ 1,426

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Recteq, LLC(Revolver) Maturity 01/29/2026 Leisure Products

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^[13],[14]

Jan. 29, 2026

^[13],[14]

Industry

Leisure Products

^[13],[14]

Par / Shares

$ 936

^[13],[14]

Fair Value

$ (33)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

^[13]

Jan. 29, 2026

^[13]

Industry

Leisure Products

^[13]

Current Coupon

9.92%

^[13]

9.92%

^[13]

Basis point spread above index, Percentage

3M L+600

^[13],[16]

Basis point spread above index, Amount

600.00%

^[13],[16]

600.00%

^[13],[16]

Par / Shares

$ 360

^[13]

Cost

360

^[13]

Fair Value

$ 347

^[7],[13]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Business Services

Current Coupon

8.84%

Basis point spread above index, Percentage

3M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 17,142

Cost

16,985

Fair Value

$ 15,406

^[7]

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

Industry

Healthcare Equipment and Supplies

Current Coupon

8.65%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 7,980

Cost

7,924

Fair Value

$ 7,781

^[7]

Schedule Of Investments [Line Items]

Maturity

Jun. 20, 2025

^[13],[14]

Jun. 20, 2025

^[13],[14]

Industry

Healthcare Equipment and Supplies

^[13],[14]

Par / Shares

$ 909

^[13],[14]

Fair Value

$ (23)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Mar. 10, 2025

Industry

Professional Services

Current Coupon

9.95%

Basis point spread above index, Percentage

3M L+625

^[16]

Basis point spread above index, Amount

625.00%

^[16]

625.00%

^[16]

Par / Shares

$ 15,356

Cost

15,201

Fair Value

$ 15,049

^[7]

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

Industry

Professional Services

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 7,105

Cost

7,034

Fair Value

$ 7,034

^[7]

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

^[13],[14]

Jan. 03, 2025

^[13],[14]

Industry

Professional Services

^[13],[14]

Par / Shares

$ 1,293

^[13],[14]

Fair Value

$ (13)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 3,487

Cost

3,462

Fair Value

$ 3,452

^[7]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

^[14]

Dec. 20, 2024

^[14]

Industry

Electronic Equipment, Instruments, and Components

^[14]

Par / Shares

$ 9

^[14]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

8.28%

Basis point spread above index, Percentage

1M L+550

^[16]

Basis point spread above index, Amount

550.00%

^[16]

550.00%

^[16]

Par / Shares

$ 1,048

Cost

1,048

Fair Value

$ 1,037

^[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Professional Services

Current Coupon

10.27%

Basis point spread above index, Percentage

SOFR + 700

^[16]

Basis point spread above index, Amount

700.00%

^[16]

700.00%

^[16]

Par / Shares

$ 14,560

Cost

14,467

Fair Value

$ 14,196

^[7]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

^[13],[14]

Jul. 14, 2025

^[13],[14]

Industry

Professional Services

^[13],[14]

Par / Shares

$ 385

^[13],[14]

Fair Value

$ (10)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Professional Services

Current Coupon

10.14%

Basis point spread above index, Percentage

1M L+600

^[16]

Basis point spread above index, Amount

600.00%

^[16]

600.00%

^[16]

Par / Shares

$ 1,487

Cost

1,487

Fair Value

$ 1,450

^[7]

Schedule Of Investments [Line Items]

Maturity

Jun. 13, 2029

Industry

Chemicals, Plastics and Rubber

Current Coupon

9.41%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 6,940

Cost

6,836

Fair Value

$ 6,836

^[7]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

IT Services

Current Coupon

12.17%

Basis point spread above index, Percentage

3M L+850

^[16]

Basis point spread above index, Amount

850.00%

^[16]

850.00%

^[16]

Par / Shares

$ 10,969

Cost

10,742

Fair Value

$ 10,750

^[7]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13],[14]

Dec. 18, 2025

^[13],[14]

Industry

IT Services

^[13],[14]

Par / Shares

$ 1,625

^[13],[14]

Fair Value

$ (32)

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

^[13],[14]

Dec. 18, 2025

^[13],[14]

Industry

IT Services

^[13],[14]

Current Coupon

12.17%

^[13],[14]

12.17%

^[13],[14]

Basis point spread above index, Percentage

3M L+850

^{[13],[14],[16]}

Basis point spread above index, Amount

850.00%

^{[13],[14],[16]}

850.00%

^{[13],[14],[16]}

Par / Shares

$ 996

^[13],[14]

Cost

996

^[13],[14]

Fair Value

$ 976

^{[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

Industry

Commercial Services & Supplies

Current Coupon

10.17%

Basis point spread above index, Percentage

1M L+650

^[16]

Basis point spread above index, Amount

650.00%

^[16]

650.00%

^[16]

Par / Shares

$ 10,358

Cost

10,301

Fair Value

$ 10,280

^[7]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt - 149.7% Signature Systems Holding Company(Revolver) Maturity 05/03/2024 Commercial Services & Supplies

Schedule Of Investments [Line Items]

Maturity

May 03, 2024

^[14]

May 03, 2024

^[14]

Industry

Commercial Services & Supplies

^[14]

Par / Shares

$ 1,747

^[14]

Fair Value

$ (13)

^[7],[14]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

7.42%

Basis point spread above index, Percentage

1M L+450

^[16]

Basis point spread above index, Amount

450.00%

^[16]

450.00%

^[16]

Par / Shares

$ 2,462

Cost

2,462

Fair Value

$ 2,370

^[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Par / Shares

$ 1,508

Fair Value

$ (57)

^[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Par / Shares

$ 108

Fair Value

$ (4)

^[7]

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Healthcare Technology

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 5,740

Cost

5,705

Fair Value

$ 5,602

^[7]

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Healthcare Technology

Par / Shares

$ 1,665

Fair Value

$ (40)

^[7]

Schedule Of Investments [Line Items]

Maturity

Feb. 26, 2025

Industry

Professional Services

Current Coupon

9.42%

Basis point spread above index, Percentage

3M L+575

^[16]

Basis point spread above index, Amount

575.00%

^[16]

575.00%

^[16]

Par / Shares

$ 14,747

Cost

14,642

Fair Value

$ 14,747

^[7]

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

^[5],[6]

Jun. 30, 2024

^[5],[6]

Industry

Containers and Packaging

^[5],[6]

Current Coupon

8.62%

^[5],[6]

8.62%

^[5],[6]

Basis point spread above index, Percentage

3M L+550

^[5],[6],[16]

Basis point spread above index, Amount

550.00%

^[5],[6],[16]

550.00%

^[5],[6],[16]

Par / Shares

$ 3,247

^[5],[6]

Cost

3,208

^[5],[6]

Fair Value

$ 3,169

^[5],[6],[7]

Schedule Of Investments [Line Items]

Current Coupon

5.50%

^[5],[6],[13]

5.50%

^[5],[6],[13]

Schedule Of Investments [Line Items]

Current Coupon

5.50%

^[5],[6],[13]

5.50%

^[5],[6],[13]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^[5],[6],[13]

Aug. 16, 2027

^[5],[6],[13]

Industry

Commercial Services & Supplies

^[5],[6],[13]

Current Coupon

8.87%

^[5],[6],[14]

8.87%

^[5],[6],[14]

Basis point spread above index, Percentage

3M L+575

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

575.00%

^{[5],[6],[13],[16]}

575.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 224

^[5],[6],[13]

Cost

224

^[5],[6],[13]

Fair Value

$ 222

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

^{[5],[6],[13],[14]}

Aug. 16, 2027

^{[5],[6],[13],[14]}

Industry

Commercial Services & Supplies

^{[5],[6],[13],[14]}

Par / Shares

$ 112

^{[5],[6],[13],[14]}

Fair Value

$ (1)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^[5],[6]

Nov. 03, 2025

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

Par / Shares

$ 17,111

^[5],[6]

Cost

16,993

^[5],[6]

Fair Value

$ 16,564

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

^{[5],[6],[13],[14]}

Nov. 03, 2025

^{[5],[6],[13],[14]}

Industry

Personal Products

^{[5],[6],[13],[14]}

Par / Shares

$ 1,426

^{[5],[6],[13],[14]}

Fair Value

$ (46)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

11.00%

^[5],[6]

11.00%

^[5],[6]

Basis point spread above index, Percentage

P+475

^[5],[6],[16]

Basis point spread above index, Amount

475.00%

^[5],[6],[16]

475.00%

^[5],[6],[16]

Par / Shares

$ 2,627

^[5],[6]

Cost

2,627

^[5],[6]

Fair Value

$ 2,627

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6],[14]

Oct. 19, 2022

^[5],[6],[14]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Douglas Products and Packaging Company LLC. Maturity Date 10/19/2022 Industry Chemicals, Plastics and Rubber Current Coupon 8.87%, Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 6,477

^[5],[6]

Cost

6,476

^[5],[6]

Fair Value

$ 6,477

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

^[5],[6]

Oct. 19, 2022

^[5],[6]

Industry

Chemicals, Plastics and Rubber

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 3,920

^[5],[6]

Cost

3,920

^[5],[6]

Fair Value

$ 3,920

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^[5],[6],[13]

Aug. 31, 2027

^[5],[6],[13]

Industry

Personal Products

^[5],[6],[13]

Current Coupon

8.95%

^[5],[6],[13]

8.95%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+600

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

600.00%

^{[5],[6],[13],[16]}

600.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 1,118

^[5],[6],[13]

Cost

1,118

^[5],[6],[13]

Fair Value

$ 1,101

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^[5],[6]

Aug. 31, 2027

^[5],[6]

Industry

Personal Products

^[5],[6]

Current Coupon

9.42%

^[5],[6]

9.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 4,428

^[5],[6]

Cost

4,356

^[5],[6]

Fair Value

$ 4,362

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 01, 2028

^[5],[6]

May 01, 2028

^[5],[6]

Industry

Hotels, Restaurants and Leisure

^[5],[6]

Current Coupon

10.62%

^[5],[6]

10.62%

^[5],[6]

Basis point spread above index, Percentage

1M L+750

^[5],[6],[16]

Basis point spread above index, Amount

750.00%

^[5],[6],[16]

750.00%

^[5],[6],[16]

Par / Shares

$ 5,203

^[5],[6]

Cost

5,158

^[5],[6]

Fair Value

$ 5,125

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Dec. 23, 2025

^[5],[6],[14]

Dec. 23, 2025

^[5],[6],[14]

Industry

Electronic Equipment, Instruments, and Components

^[5],[6],[14]

Par / Shares

$ 400

^[5],[6],[14]

Fair Value

$ (19)

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2024

^[5],[6]

Jun. 15, 2024

^[5],[6]

Industry

Media: Diversified and Production

^[5],[6]

Current Coupon

10.42%

^[5],[6]

10.42%

^[5],[6]

Basis point spread above index, Percentage

3M L+675

^[5],[6],[16]

Basis point spread above index, Amount

675.00%

^[5],[6],[16]

675.00%

^[5],[6],[16]

Par / Shares

$ 7,150

^[5],[6]

Cost

7,123

^[5],[6]

Fair Value

$ 6,936

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

^{[5],[6],[13],[14]}

Mar. 15, 2027

^{[5],[6],[13],[14]}

Industry

Software

^{[5],[6],[13],[14]}

Par / Shares

$ 552

^{[5],[6],[13],[14]}

Fair Value

$ (12)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

^[5],[6]

Mar. 15, 2027

^[5],[6]

Industry

Software

^[5],[6]

Current Coupon

8.87%

^[5],[6]

8.87%

^[5],[6]

Basis point spread above index, Percentage

3M L+575

^[5],[6],[16]

Basis point spread above index, Amount

575.00%

^[5],[6],[16]

575.00%

^[5],[6],[16]

Par / Shares

$ 138

^[5],[6]

Cost

138

^[5],[6]

Fair Value

$ 135

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 31, 2024

^{[5],[6],[15],[20],[21]}

May 31, 2024

^{[5],[6],[15],[20],[21]}

Industry

Diversified Financial Services

^{[5],[6],[15],[20],[21]}

Current Coupon

7.17%

^{[5],[6],[15],[20],[21]}

7.17%

^{[5],[6],[15],[20],[21]}

Basis point spread above index, Percentage

3M L+450

^{[5],[6],[15],[16],[20],[21]}

Basis point spread above index, Amount

450.00%

^{[5],[6],[15],[16],[20],[21]}

450.00%

^{[5],[6],[15],[16],[20],[21]}

Par / Shares

$ 10,000

^[5],[6]

Cost

$ 7,399

^{[5],[6],[15],[20],[21]}

Fair Value

$ 6,430

^{[5],[6],[7],[15],[20],[21]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^{[5],[6],[13],[14]}

May 14, 2026

^{[5],[6],[13],[14]}

Industry

IT Services

^{[5],[6],[13],[14]}

Par / Shares

$ 3,484

^{[5],[6],[13],[14]}

Fair Value

$ (105)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[5],[6]

May 14, 2026

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

^[5],[6]

May 14, 2026

^[5],[6]

Industry

IT Services

^[5],[6]

Current Coupon

9.37%

^[5],[6]

9.37%

^[5],[6]

Basis point spread above index, Percentage

1M L+625

^[5],[6]

Basis point spread above index, Amount

625.00%

^[5],[6]

625.00%

^[5],[6]

Par / Shares

$ 21,982

^[5],[6]

Cost

21,632

^[5],[6]

Fair Value

$ 21,322

^[5],[6]

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

^[5],[6]

Mar. 16, 2026

^[5],[6]

Industry

Diversified Financial Services

^[5],[6]

Current Coupon

8.74%

^[5],[6]

8.74%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6],[16]

Basis point spread above index, Amount

600.00%

^[5],[6],[16]

600.00%

^[5],[6],[16]

Par / Shares

$ 3,427

^[5],[6]

Cost

3,388

^[5],[6]

Fair Value

$ 3,273

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^{[5],[6],[13],[14]}

Aug. 10, 2027

^{[5],[6],[13],[14]}

Industry

Trading Companies & Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 447

^{[5],[6],[13],[14]}

Fair Value

$ (18)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

^[5],[6],[13]

Aug. 10, 2027

^[5],[6],[13]

Industry

Trading Companies & Distributors

^[5],[6],[13]

Current Coupon

8.92%

^[5],[6],[13]

8.92%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+575

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

575.00%

^{[5],[6],[13],[16]}

575.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 418

^[5],[6],[13]

Cost

418

^[5],[6],[13]

Fair Value

$ 401

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2023

^{[5],[6],[13],[14]}

Aug. 10, 2023

^{[5],[6],[13],[14]}

Industry

Trading Companies & Distributors

^{[5],[6],[13],[14]}

Par / Shares

$ 1,071

^{[5],[6],[13],[14]}

Fair Value

$ (24)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

^[5],[6]

Dec. 10, 2024

^[5],[6]

Industry

Media

^[5],[6]

Current Coupon

6.00%

^[5],[6]

6.00%

^[5],[6]

Basis point spread above index, Percentage

1M L+500

^[5],[6]

Basis point spread above index, Amount

500.00%

^[5],[6]

500.00%

^[5],[6]

Par / Shares

$ 8,457

^[5],[6]

Cost

8,416

^[5],[6]

Fair Value

8,352

^[5],[6]

Schedule Of Investments [Line Items]

Industry

Insurance

^{[5],[6],[13],[14]}

Schedule Of Investments [Line Items]

Par / Shares

480

^{[5],[6],[13],[14]}

Fair Value

$ (7)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[5],[6],[13]

Dec. 31, 2026

^[5],[6],[13]

Industry

Insurance

^[5],[6],[13]

Current Coupon

7.82%

^[5],[6],[13]

7.82%

^[5],[6],[13]

Basis point spread above index, Percentage

3M L+500

^{[5],[6],[13],[16]}

Basis point spread above index, Amount

500.00%

^{[5],[6],[13],[16]}

500.00%

^{[5],[6],[13],[16]}

Par / Shares

$ 270

^[5],[6],[13]

Cost

270

^[5],[6],[13]

Fair Value

$ 266

^{[5],[6],[7],[13]}

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2022

^{[5],[6],[13],[14]}

Dec. 31, 2022

^{[5],[6],[13],[14]}

Industry

Insurance

^{[5],[6],[13],[14]}

Par / Shares

$ 400

^{[5],[6],[13],[14]}

Fair Value

$ (6)

^{[5],[6],[7],[13],[14]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% Hancock Roofing and Construction L.L.C. Maturity Date 12/31/2026 Industry Insurance Current Coupon 8.67% Basis Point Spread Above Index 3M L+500

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

^[5],[6]

Dec. 31, 2026

^[5],[6]

Industry

Insurance

^[5],[6]

Current Coupon

8.67%

^[5],[6]

8.67%

^[5],[6]

Basis point spread above index, Percentage

3M L+500

^[5],[6],[16]

Basis point spread above index, Amount

500.00%

^[5],[6],[16]

500.00%

^[5],[6],[16]

Par / Shares

$ 4,441

^[5],[6]

Cost

4,378

^[5],[6]

Fair Value

$ 4,374

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2027

^[5],[6],[14]

Nov. 23, 2027

^[5],[6],[14]

Industry

Aerospace and Defense

^[5],[6],[14]

Par / Shares

$ 1,791

^[5],[6],[14]

Fair Value

$ (36)

^{[5],[6],[7],[14]}

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

^[5],[6]

Nov. 23, 2028

^[5],[6]

Industry

Aerospace and Defense

^[5],[6]

Current Coupon

10.17%

^[5],[6]

10.17%

^[5],[6]

Basis point spread above index, Percentage

3M L+600

^[5],[6]

Basis point spread above index, Amount

600.00%

^[5],[6]

600.00%

^[5],[6]

Par / Shares

$ 4,963

^[5],[6],[7]

Cost

4,872

^[5],[6]

Fair Value

$ 4,863

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^[13],[15]

Oct. 05, 2023

^[13],[15]

Industry

Banking, Finance, Insurance & Real Estate

^[13],[15]

Current Coupon

7.63%

^[13],[15]

7.63%

^[13],[15]

Basis point spread above index, Percentage

1M L+500

^{[13],[15],[16]}

Basis point spread above index, Amount

500.00%

^{[13],[15],[16]}

500.00%

^{[13],[15],[16]}

Par / Shares

$ 2,500

^[13],[15]

Cost

2,500

^[13],[15]

Fair Value

$ 2,500

^{[7],[13],[15]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% First Lien Secured Debt – 149.7% e Commission Financial Services, Inc, Maturity Date 10/05/2023, Banking, Finance, Insurance & Real Estate, Current Coupon 7.63%, Basis Point Spread Above Index 1ML+500

Schedule Of Investments [Line Items]

Maturity

Oct. 05, 2023

^[5],[6],[15]

Oct. 05, 2023

^[5],[6],[15]

Industry

Banking, Finance, Insurance & Real Estate

^[5],[6],[15]

Current Coupon

7.63%

^[5],[6],[15]

7.63%

^[5],[6],[15]

Basis point spread above index, Percentage

1M L+500

^{[5],[6],[15],[16]}

Basis point spread above index, Amount

500.00%

^{[5],[6],[15],[16]}

500.00%

^{[5],[6],[15],[16]}

Par / Shares

$ 5,837

^[5],[6],[15]

Cost

5,837

^[5],[6],[15]

Fair Value

$ 5,837

^{[5],[6],[7],[15]}

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

^{[5],[6],[13],[14]}

Aug. 31, 2027

^{[5],[6],[13],[14]}

Industry

Personal Products

^{[5],[6],[13],[14]}

Par / Shares

$ 2,236

^{[5],[6],[13],[14]}

Fair Value

$ (34)

^{[5],[6],[7],[13],[14]}

Schedule Of Investments [Line Items]

Maturity

Dec. 23, 2025

^[5],[6]

Dec. 23, 2025

^[5],[6]

Industry

Electronic Equipment, Instruments, and Components

^[5],[6]

Current Coupon

8.00%

^[5],[6]

8.00%

^[5],[6]

Basis point spread above index, Percentage

1M L+475

^[5],[6],[16]

Basis point spread above index, Amount

475.00%

^[5],[6],[16]

475.00%

^[5],[6],[16]

Par / Shares

$ 514

^[5],[6]

Cost

514

^[5],[6]

Fair Value

$ 490

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2026

^[5],[6],[13]

Aug. 16, 2026

^[5],[6],[13]

Industry

Personal Products

^[5],[6],[13]

Current Coupon

9.38%

^[5],[6],[13]

9.38%

^[5],[6],[13]

Basis point spread above index, Percentage

1M L+700

^[5],[6],[13]

Basis point spread above index, Amount

700.00%

^[5],[6],[13]

700.00%

^[5],[6],[13]

Par / Shares

$ 599

^[5],[6],[13]

Cost

599

^[5],[6],[13]

Fair Value

587

^[5],[6],[13]

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6% Total

Schedule Of Investments [Line Items]

Cost

10,297

^[5],[6],[17]

Fair Value

9,945

^{[5],[6],[7],[17]}

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[12],[13],[17]}

Par / Shares

2,018

^{[5],[6],[12],[13],[17]}

Cost

2,018

^{[5],[6],[12],[13],[17]}

Fair Value

2,537

^{[5],[6],[7],[12],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, Mars Intermediate Holdings II, Inc, Industry Media

Schedule Of Investments [Line Items]

Industry

Media

^{[5],[6],[13],[17]}

Par / Shares

835

^{[5],[6],[13],[17]}

Cost

835

^{[5],[6],[13],[17]}

Fair Value

976

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, NXOF Holdings, Inc. (Tyto Athene, LLC), Industry IT Services

Schedule Of Investments [Line Items]

Industry

IT Services

^{[5],[6],[13],[17]}

Par / Shares

733

^{[5],[6],[13],[17]}

Cost

733

^{[5],[6],[13],[17]}

Fair Value

1,042

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, ORL Holdco, Inc, Industry Consumer Finance

Schedule Of Investments [Line Items]

Industry

Consumer Finance

^{[5],[6],[13],[17]}

Par / Shares

1,327

^{[5],[6],[13],[17]}

Cost

133

^{[5],[6],[13],[17]}

Fair Value

$ 144

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Commercial Services & Supplies

^{[5],[6],[13],[17]}

Current Coupon

12.00%

^{[5],[6],[13],[17]}

12.00%

^{[5],[6],[13],[17]}

Par / Shares

$ 1,323

^{[5],[6],[13],[17]}

Cost

1,323

^{[5],[6],[13],[17]}

Fair Value

1,674

^{[5],[6],[7],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Preferred Equity— 1.6%, TPC Holding Company, LP, Industry Food Products

Schedule Of Investments [Line Items]

Industry

Food Products

^{[5],[6],[13],[15],[17],[20]}

Par / Shares

409

^{[5],[6],[13],[15],[17],[20]}

Cost

409

^{[5],[6],[13],[15],[17],[20]}

Fair Value

116

^{[5],[6],[7],[13],[15],[17],[20]}

Schedule Of Investments [Line Items]

Industry

Construction & Engineering

^{[5],[6],[13],[17]}

Par / Shares

^{[5],[6],[13],[17]}

Cost

^{[5],[6],[13],[17]}

Fair Value

$ 40

^{[5],[6],[7],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Current Coupon

13.50%

^{[5],[6],[13],[17]}

13.50%

^{[5],[6],[13],[17]}

Par / Shares

$ 1,047,317

^{[5],[6],[13],[17]}

Cost

$ 670

^{[5],[6],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Current Coupon

19.00%

^{[5],[6],[13],[17]}

19.00%

^{[5],[6],[13],[17]}

Par / Shares

$ 448,851

^{[5],[6],[13],[17]}

Cost

$ 449

^{[5],[6],[13],[17]}

Schedule Of Investments [Line Items]

Industry

Telecommunications

^{[5],[6],[13],[17]}

Current Coupon

20.00%

^{[5],[6],[13],[17]}

20.00%

^{[5],[6],[13],[17]}

Par / Shares

$ 343,861

^{[5],[6],[13],[17]}

Cost

344

^{[5],[6],[13],[17]}

Investment, Identifier [Axis]: Investments in Non-Controlled, Non-Affiliated Portfolio Companies—169.5% Total

Schedule Of Investments [Line Items]

Cost

882,570

^[5],[6]

Fair Value

$ 893,249

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

^[5],[6]

Oct. 31, 2024

^[5],[6]

Industry

Capital Equipment

^[5],[6]

Current Coupon

9.95%

^[5],[6]

9.95%

^[5],[6]

Basis point spread above index, Percentage

1M L+750

^[5],[6]

Basis point spread above index, Amount

750.00%

^[5],[6]

750.00%

^[5],[6]

Par / Shares

$ 9,565

^[5],[6]

Cost

9,542

^[5],[6]

Fair Value

9,345

^[5],[6]

Investment, Identifier [Axis]: Liabilities in Excess of Other Assets—(130.0)%

Schedule Of Investments [Line Items]

Fair Value

(688,650)

^[5],[6],[7]

Investment, Identifier [Axis]: Liabilities in Excess of Other Assets—(78.6)%

Schedule Of Investments [Line Items]

Fair Value

(514,124)

^[2],[3],[4]

Investment, Identifier [Axis]: Net Assets—100.0%

Schedule Of Investments [Line Items]

Fair Value

$ 653,605

^[2],[3],[4]

$ 527,092

^[5],[6],[7]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

Industry

Media: Advertising, Printing & Publishing

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,284

Cost

5,208

Fair Value

$ 5,284

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

Industry

Consumer Goods: Durable

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 15,179

Cost

15,103

Fair Value

$ 14,693

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Media: Diversified and Production

Current Coupon

8.19%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 647

Cost

647

Fair Value

$ 647

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Media: Diversified and Production

Par / Shares

$ 589

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

Industry

Media: Diversified and Production

Current Coupon

8.19%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 4,837

Cost

3,527

Fair Value

$ 4,837

^[23]

Schedule Of Investments [Line Items]

Maturity

Jun. 06, 2024

Industry

Consumer Goods: Non-Durable

Current Coupon

7.75%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 14,363

Cost

14,319

Fair Value

$ 14,111

^[23]

Investment, Identifier [Axis]: RELATED PARTY PSSL FIRST LIEN SECURED DEBT - % ISSUER NAME PLAYPOWER, INC. MATURITY 5/8/2026 CONSUMER GOODSDurable 9.17% Basis Point Spread Above Index 3 M L+550

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

Industry

Consumer Goods: Durable

Current Coupon

9.17%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 2,580

Cost

2,500

Fair Value

$ 2,309

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 16, 2024

Industry

Media: Broadcasting and Subscription

Current Coupon

8.47%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 12,957

Cost

12,952

Fair Value

$ 12,859

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

Industry

Consumer Goods: Non-Durable

Current Coupon

8.30%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 8,744

Cost

8,604

Fair Value

$ 8,482

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2024

Industry

Consumer Goods: Durable

Current Coupon

12.17%

Basis point spread above index, Percentage

3M L+850

^[22]

Basis point spread above index, Amount

850.00%

^[22]

850.00%

^[22]

Par / Shares

$ 3,000

Cost

2,963

Fair Value

2,955

^[23]

Investment, Identifier [Axis]: Related Party PSSL Cash and Cash Equivalents (as restated)

Schedule Of Investments [Line Items]

Cost

30,152

Fair Value

30,152

^[23]

Investment, Identifier [Axis]: Related Party PSSL Cash and Cash Equivalents Issuer Name BlackRock Federal FD Institutional 30 (as restated)

Schedule Of Investments [Line Items]

Cost

30,152

Fair Value

30,152

^[23]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 0.4% Issuer Name New MPE Holdings, LLC Maturity 9/29/2024 Media: Diversified and Production

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

Fair Value

139

^[23]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 3.9% - Issuer Name New MPE Holdings, LLC, Industry Media: Diversified and Production

Schedule Of Investments [Line Items]

Industry

Media: Diversified and Production

Fair Value

$ 495

^[24]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 3.9% - Issuer Name New Walker Edison Furniture - Common Equity, Industry Wholesale

Schedule Of Investments [Line Items]

Wholesale

$ 36

3,393

1,766

^[24]

Investment, Identifier [Axis]: Related Party PSSL Equity Securities - 3.9% - Total

Schedule Of Investments [Line Items]

Cost

3,393

Fair Value

2,261

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - %

Schedule Of Investments [Line Items]

Cost

767,316

Fair Value

$ 751,628

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Ad.net Acquisition, LLC Maturity 5/6/2026 Media Current Coupon 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

May 06, 2026

Industry

Media

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 8,888

Cost

8,788

Fair Value

$ 8,821

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 30, 2026

Industry

Containers and Packaging

Current Coupon

8.22%

Basis point spread above index, Percentage

SOFR+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 9,975

Cost

9,790

Fair Value

$ 9,576

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 24, 2025

Industry

Business Services

Current Coupon

10.81%

Basis point spread above index, Percentage

3M L+800

^[22]

Basis point spread above index, Amount

800.00%

^[22]

800.00%

^[22]

Par / Shares

$ 5,225

Cost

5,113

Fair Value

$ 5,042

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2023

Industry

Building Products

Current Coupon

7.79%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 4,883

Cost

4,851

Fair Value

$ 4,883

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

Industry

Professional Services

Current Coupon

8.33%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 3,510

Cost

3,441

Fair Value

$ 3,440

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

6.72%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 1,010

Cost

1,010

Fair Value

$ 1,005

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 2,202

Cost

2,202

Fair Value

$ 2,191

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

7.86%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 11,115

Cost

11,050

Fair Value

$ 11,059

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

Industry

Commercial Services & Supplies

Current Coupon

8.76%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 8,421

Cost

8,317

Fair Value

$ 8,211

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 07, 2028

Industry

Aerospace and Defense

Current Coupon

8.99%

Basis point spread above index, Percentage

SOFR + 575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 4,677

Cost

4,588

Fair Value

$ 4,583

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

Industry

Business Services

Current Coupon

7.76%

Basis point spread above index, Percentage

SOFR + 525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 5,000

Cost

4,903

Fair Value

$ 4,900

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2024

Industry

Distributors

Current Coupon

8.62%

Basis point spread above index, Percentage

SOFR + 500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 15,293

Cost

15,102

Fair Value

$ 14,956

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2022

Industry

Consumer Products

Current Coupon

7.39%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 2,417

Cost

2,417

Fair Value

$ 2,417

^[23]

Schedule Of Investments [Line Items]

Maturity

May 16, 2024

Industry

High Tech Industries

Current Coupon

9.20%

Basis point spread above index, Percentage

1M L+662

^[22]

Basis point spread above index, Amount

662.00%

^[22]

662.00%

^[22]

Par / Shares

$ 14,822

Cost

14,771

Fair Value

$ 14,674

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name CF512, Inc. Maturity 8/20/2026 Media Current Coupon 9.08% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

Industry

Media

Current Coupon

9.08%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,950

Cost

4,866

Fair Value

$ 4,876

^[23]

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

Industry

Construction and Engineering

Current Coupon

8.17%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 5,557

Cost

5,487

Fair Value

$ 5,557

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

Industry

Aerospace and Defense

Current Coupon

11.31%

Basis point spread above index, Percentage

3M L+325

^[22]

Basis point spread above index, Amount

325.00%

^[22]

325.00%

^[22]

$ 12,412

11.31%

$ 12,385

$ 12,288

^[23]

Schedule Of Investments [Line Items]

Maturity

May 13, 2028

Industry

Distributors

Current Coupon

9.55%

Basis point spread above index, Percentage

SOFR + 600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 6,484

Cost

6,359

Fair Value

$ 6,386

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2023

Industry

Business Services

Current Coupon

9.27%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

$ 9,271

1.00%

$ 9,247

$ 8,993

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Connatix Buyer, Inc. Maturity 7/13/2027 Media Current Coupon 8.42% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

Industry

Media

Current Coupon

8.42%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 3,907

Cost

3,842

Fair Value

$ 3,810

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Commercial Services & Supplies

Current Coupon

9.39%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 2,110

Cost

2,084

Fair Value

$ 2,089

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name DRI Holding Inc. Maturity 12/21/2028 Media Current Coupon 8.37% Basis Point Spread Above Index 1M L+525

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2028

Industry

Media

Current Coupon

8.37%

Basis point spread above index, Percentage

1M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 1,832

Cost

1,680

Fair Value

$ 1,643

^[23]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 8,655

Cost

8,653

Fair Value

$ 8,655

^[23]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 7,248

Cost

7,246

Fair Value

$ 7,248

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

Industry

Personal Products

Current Coupon

9.42%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 14,862

Cost

14,610

Fair Value

$ 14,639

^[23]

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

Industry

Containers and Packaging

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 10,278

Cost

10,151

Fair Value

$ 10,031

^[23]

Schedule Of Investments [Line Items]

Maturity

May 01, 2028

Industry

Hotels, Restaurants and Leisure

Current Coupon

10.62%

Basis point spread above index, Percentage

3M L+750

^[22]

Basis point spread above index, Amount

750.00%

^[22]

750.00%

^[22]

Par / Shares

$ 2,621

Cost

2,598

Fair Value

$ 2,581

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 23, 2025

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

7.82%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 4,974

Cost

4,974

Fair Value

$ 4,738

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

Industry

Software

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 12,935

Cost

12,759

Fair Value

$ 12,644

^[23]

Schedule Of Investments [Line Items]

Maturity

Jun. 17, 2028

Industry

Aerospace and Defense

Current Coupon

8.39%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 10,300

Cost

10,238

Fair Value

$ 9,528

^[23]

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

Industry

IT Services

Current Coupon

9.37%

Basis point spread above index, Percentage

1M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 14,638

Cost

14,427

Fair Value

$ 14,199

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

Industry

Diversified Financial Services

Current Coupon

8.74%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 3,904

Cost

3,888

Fair Value

$ 3,728

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

Industry

Trading Companies & Distributors

Current Coupon

9.17%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 2,369

Cost

2,320

Fair Value

$ 2,274

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name HW Holdco, LLC Maturity 12/10/2024 Media Current Coupon 6.00% Basis Point Spread Above Index 6M L+575

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

Industry

Media

Current Coupon

6.00%

Basis point spread above index, Percentage

6M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 3,052

Cost

3,006

Fair Value

$ 3,014

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

Industry

Insurance

Current Coupon

8.67%

Basis point spread above index, Percentage

1M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 2,392

Cost

2,347

Fair Value

$ 2,356

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

Industry

Aerospace and Defense

Current Coupon

10.17%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,963

Cost

4,874

Fair Value

$ 4,863

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 30, 2026

Industry

Healthcare Equipment and Supplies

Current Coupon

10.20%

Basis point spread above index, Percentage

SOFR+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 9,950

Cost

9,833

Fair Value

$ 9,502

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name ITI Holdings, Inc. Maturity 3/3/2028 IT Services 8.67% Basis Point Spread Above Index SOFR + 550

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

Industry

IT Services

Current Coupon

8.67%

Basis point spread above index, Percentage

SOFR + 550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 3,980

Cost

3,917

Fair Value

$ 3,900

^[23]

Schedule Of Investments [Line Items]

Maturity

May 11, 2028

Industry

Automobiles

Current Coupon

7.55%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 2,327

Cost

1,997

Fair Value

$ 1,701

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Imagine Acquisitionco, LLC Maturity 11/15/2027 Software 8.42% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

Industry

Software

Current Coupon

8.42%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,364

Cost

5,261

Fair Value

$ 5,230

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 07, 2023

Industry

Healthcare Providers and Services

Current Coupon

8.55%

Basis point spread above index, Percentage

SOFR+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 16,620

Cost

16,309

Fair Value

$ 16,454

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2023

Industry

Diversified Consumer Services

Current Coupon

8.42%

Basis point spread above index, Percentage

3M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 11,187

Cost

11,168

Fair Value

$ 10,963

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2025

Industry

Insurance

Current Coupon

7.58%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,966

Cost

5,885

Fair Value

$ 5,906

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

Industry

Chemicals, Plastics and Rubber

Current Coupon

11.12%

Basis point spread above index, Percentage

1M L+800

^[22]

Basis point spread above index, Amount

800.00%

^[22]

800.00%

^[22]

Par / Shares

$ 19,250

Cost

19,103

Fair Value

$ 19,250

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Kinetic Purchaser, LLC Maturity 11/10/2027 Personal Products 9.67% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

Industry

Personal Products

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 16,830

Cost

16,451

Fair Value

$ 16,494

^[23]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

Industry

Capital Equipment

Current Coupon

9.70%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

$ 10,578

2.00%

$ 10,539

$ 10,335

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Lash OpCo, LLC Maturity 2/18/2027 Personal Products 11.17% Basis Point Spread Above Index 3M L+700

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

Industry

Personal Products

Current Coupon

11.17%

Basis point spread above index, Percentage

3M L+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 14,355

Cost

14,074

Fair Value

$ 14,068

^[23]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

Industry

Healthcare Providers and Services

Current Coupon

9.04%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 10,598

Cost

10,428

Fair Value

$ 10,254

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Lucky Bucks, LLC Maturity 7/20/2027 Hotel, Gaming and Leisure 8.31% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

Industry

Hotel, Gaming and Leisure

Current Coupon

8.31%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 4,331

Cost

4,258

Fair Value

$ 3,183

^[23]

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

Industry

Internet Software and Services

Current Coupon

8.56%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 7,406

Cost

7,296

Fair Value

$ 7,332

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.98%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 5,000

Cost

4,902

Fair Value

$ 4,900

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Magenta Buyer, LLC Maturity 7/31/2028 Software 7.87% Basis Point Spread Above Index 1M L+475

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2028

Industry

Software

Current Coupon

7.87%

Basis point spread above index, Percentage

1M L+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 2,695

Cost

2,539

Fair Value

$ 2,425

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Mars Acquisition Holdings Corp. Maturity 5/14/2026 Media 8.62% Basis Point Spread Above Index 1M L+550

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

Industry

Media

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 9,900

Cost

9,782

Fair Value

$ 9,851

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

Industry

Professional Services

Current Coupon

9.17%

Basis point spread above index, Percentage

3M L+650

^[22]

Basis point spread above index, Amount

650.00%

^[22]

650.00%

^[22]

Par / Shares

$ 2,396

Cost

2,353

Fair Value

$ 2,372

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

Industry

Capital Equipment

Current Coupon

8.70%

Basis point spread above index, Percentage

SOFR+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 5,829

Cost

5,817

Fair Value

$ 5,759

^[23]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

Industry

Distributors

Current Coupon

8.67%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 3,465

Cost

3,405

Fair Value

$ 3,264

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

Industry

Healthcare, Education & Childcare

Current Coupon

7.80%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 10,820

Cost

10,641

Fair Value

$ 10,820

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 09, 2026

Industry

Healthcare Equipment and Supplies

Current Coupon

8.40%

Basis point spread above index, Percentage

SOFR+475

^[22]

Basis point spread above index, Amount

475.00%

^[22]

475.00%

^[22]

Par / Shares

$ 5,060

Cost

4,991

Fair Value

$ 5,060

^[23]

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

Industry

Air Freight and Logistics

Current Coupon

9.37%

Basis point spread above index, Percentage

1M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 14,598

Cost

14,353

Fair Value

$ 14,160

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 27, 2024

Industry

Business Services

Current Coupon

9.80%

Basis point spread above index, Percentage

3M L+425

^[22]

Basis point spread above index, Amount

425.00%

^[22]

425.00%

^[22]

Par / Shares

$ 7,682

Cost

7,676

Fair Value

$ 5,838

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Owl Acquisition, LLC Maturity 2/4/2028 Professional Services 8.41% Basis Point Spread Above Index 3M L+575

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

Industry

Professional Services

Current Coupon

8.41%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 3,990

Cost

3,918

Fair Value

$ 3,890

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Ox Two, LLC Maturity 5/18/2026 Construction and Building 9.81% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

Industry

Construction and Building

Current Coupon

9.81%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,925

Cost

4,866

Fair Value

$ 4,827

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name PH Beauty Holdings III, Inc. Maturity 9/29/2025 Wholesale 8.07% Basis Point Spread Above Index 1M L+500

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2025

Industry

Wholesale

Current Coupon

8.07%

Basis point spread above index, Percentage

1M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 9,593

Cost

9,234

Fair Value

$ 7,674

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

Industry

Textiles, Apparel and Luxury Goods

Current Coupon

9.62%

Basis point spread above index, Percentage

1M L+650

^[22]

Basis point spread above index, Amount

650.00%

^[22]

650.00%

^[22]

Par / Shares

$ 8,238

Cost

8,111

Fair Value

$ 8,032

^[23]

Schedule Of Investments [Line Items]

Maturity

Oct. 19, 2022

Industry

Chemicals, Plastics and Rubber

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 1,562

Cost

1,561

Fair Value

$ 1,562

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Pragmatic Institute, LLC Maturity 7/6/2028 Education 9.30% Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

Industry

Education

Current Coupon

9.30%

Basis point spread above index, Percentage

SOFR+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 11,250

Cost

11,056

Fair Value

$ 11,138

^[23]

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

^[25]

Nov. 19, 2026

^[25]

Industry

Aerospace and Defense

^[25]

Par / Shares

$ 1,888

^[25]

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

Industry

Aerospace and Defense

Current Coupon

8.41%

Basis point spread above index, Percentage

1M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 4,845

Cost

4,755

Fair Value

$ 4,729

^[23]

Schedule Of Investments [Line Items]

Maturity

Feb. 28, 2028

Industry

Air Freight and Logistics

Current Coupon

9.13%

Basis point spread above index, Percentage

SOFR+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,975

Cost

4,904

Fair Value

$ 4,751

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Recteq, LLC Maturity 1/29/2026 Leisure Products 9.92% Basis Point Spread Above Index 3M L+600

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

Industry

Leisure Products

Current Coupon

9.92%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 4,925

Cost

4,856

Fair Value

$ 4,753

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Diversified Consumer Services

Current Coupon

8.84%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 12,564

Cost

12,354

Fair Value

$ 11,291

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

Industry

Construction and Building

Current Coupon

8.37%

Basis point spread above index, Percentage

3M L+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 9,075

Cost

9,011

Fair Value

$ 8,985

^[23]

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

Industry

Professional Services

Current Coupon

9.67%

Basis point spread above index, Percentage

3M L+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 5,013

Cost

4,960

Fair Value

$ 4,963

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Sargent & Greenleaf Inc. Maturity 12/20/2024 Wholesale 8.62% Basis Point Spread Above Index 3M L+550

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Wholesale

Current Coupon

8.62%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,240

Cost

5,202

Fair Value

$ 5,187

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Business Services

Current Coupon

10.27%

Basis point spread above index, Percentage

SOFR+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

$ 11,847

0.50%

$ 11,829

$ 11,551

^[23]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

Aerospace and Defense

Current Coupon

12.17%

Basis point spread above index, Percentage

1M L+850

^[22]

Basis point spread above index, Amount

850.00%

^[22]

850.00%

^[22]

Par / Shares

$ 14,716

Cost

14,411

Fair Value

$ 14,421

^[23]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

7.05%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 11,917

Cost

11,807

Fair Value

$ 11,470

^[23]

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Healthcare and Pharmaceuticals

Current Coupon

8.87%

Basis point spread above index, Percentage

1M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 5,647

Cost

5,625

Fair Value

$ 5,511

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name Spendmend Holdings LLC Maturity 3/1/2028 Healthcare Technology 8.63% Basis Point Spread Above Index SOFR+575

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

8.63%

Basis point spread above index, Percentage

SOFR+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

Par / Shares

$ 2,956

Cost

2,916

Fair Value

$ 2,873

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Current Coupon

8.73%

Basis point spread above index, Percentage

SOFR+600

^[22]

Basis point spread above index, Amount

600.00%

^[22]

600.00%

^[22]

Par / Shares

$ 14,888

Cost

14,623

Fair Value

$ 14,649

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 26, 2026

Industry

Diversified Consumer Services

Current Coupon

8.87%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 14,952

Cost

14,871

Fair Value

$ 14,578

^[23]

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

Industry

Diversified Consumer Services

Current Coupon

8.76%

Basis point spread above index, Percentage

3M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 5,468

Cost

5,450

Fair Value

$ 5,441

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

Industry

Business Services

Current Coupon

8.38%

Basis point spread above index, Percentage

3M L+625

^[22]

Basis point spread above index, Amount

625.00%

^[22]

625.00%

^[22]

Par / Shares

$ 2,786

Cost

2,757

Fair Value

$ 2,623

^[23]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

Industry

Aerospace and Defense

Current Coupon

9.55%

Basis point spread above index, Percentage

3M L+500

^[22]

Basis point spread above index, Amount

500.00%

^[22]

500.00%

^[22]

Par / Shares

$ 5,659

Cost

5,600

Fair Value

$ 5,603

^[23]

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

Industry

Professional Services

Current Coupon

10.67%

Basis point spread above index, Percentage

1M L+700

^[22]

Basis point spread above index, Amount

700.00%

^[22]

700.00%

^[22]

Par / Shares

$ 1,707

Cost

1,679

Fair Value

$ 1,724

^[23]

Schedule Of Investments [Line Items]

Maturity

Aug. 30, 2027

Industry

Construction and Engineering

Current Coupon

8.62%

Basis point spread above index, Percentage

1M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 5,578

Cost

5,479

Fair Value

$ 5,550

^[23]

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

Industry

IT Services

Current Coupon

7.76%

Basis point spread above index, Percentage

3M L+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 15,550

Cost

15,421

Fair Value

$ 14,446

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - % Issuer Name UBEO, LLC Maturity 4/3/2024 Capital Equipment Current Coupon 8.17% Basis Point Spread Above Index 3M L+450

Schedule Of Investments [Line Items]

Maturity

Apr. 03, 2024

Industry

Capital Equipment

Current Coupon

8.17%

Basis point spread above index, Percentage

3M L+450

^[22]

Basis point spread above index, Amount

450.00%

^[22]

450.00%

^[22]

Par / Shares

$ 17,390

Cost

17,305

Fair Value

$ 17,129

^[23]

Schedule Of Investments [Line Items]

Maturity

May 24, 2027

Industry

Home and Office Furnishings, Housewares

Current Coupon

8.95%

Basis point spread above index, Percentage

SOFR+525

^[22]

Basis point spread above index, Amount

525.00%

^[22]

525.00%

^[22]

Par / Shares

$ 4,975

Cost

4,880

Fair Value

$ 4,866

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

12.42%

Basis point spread above index, Percentage

3M L+575

^[22]

Basis point spread above index, Amount

575.00%

^[22]

575.00%

^[22]

$ 12,684

3.00%

$ 12,438

$ 8,473

^[23]

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

9.45%

Basis point spread above index, Percentage

SOFR+550

^[22]

Basis point spread above index, Amount

550.00%

^[22]

550.00%

^[22]

Par / Shares

$ 8,546

Cost

8,506

Fair Value

$ 8,261

^[23]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

Industry

Automobiles

Current Coupon

10.35%

Basis point spread above index, Percentage

3M L+725

^[22]

Basis point spread above index, Amount

725.00%

^[22]

725.00%

^[22]

Par / Shares

$ 16,957

Cost

16,711

Fair Value

16,536

^[23]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5% Total

Schedule Of Investments [Line Items]

Cost

801,215

Fair Value

$ 783,598

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 22, 2028

Industry

Commercial Services & Supplies

Current Coupon

11.84%

Basis point spread above index, Percentage

SOFR+660

^[26]

Basis point spread above index, Amount

660.00%

^[26]

Par / Shares

$ 2,940

Cost

2,886

Fair Value

$ 2,925

^[24]

Schedule Of Investments [Line Items]

Maturity

May 07, 2026

Industry

Media

Current Coupon

11.65%

Basis point spread above index, Percentage

SOFR+626

^[26]

Basis point spread above index, Amount

626.00%

^[26]

Par / Shares

$ 8,798

Cost

8,723

Fair Value

$ 8,754

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 30, 2026

Industry

Containers and Packaging

Current Coupon

11.24%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 12,852

Cost

12,535

Fair Value

$ 12,338

^[24]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

Industry

Media: Advertising, Printing & Publishing

Current Coupon

12.04%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 4,875

Cost

4,817

Fair Value

$ 4,814

^[24]

Schedule Of Investments [Line Items]

Maturity

May 23, 2024

Industry

Media: Advertising, Printing & Publishing

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 5,001

Cost

4,971

Fair Value

$ 4,913

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 21, 2027

Industry

Professional Services

Current Coupon

11.59%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 7,510

Cost

7,348

Fair Value

$ 7,360

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 2,187

Cost

2,187

Fair Value

$ 2,181

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

10.69%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 11,013

Cost

10,972

Fair Value

$ 10,985

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

10.52%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 1,002

Cost

1,002

Fair Value

$ 1,000

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

^[27]

Industry

Commercial Services & Supplies

^[27]

Par / Shares

$ 194

^[27]

Fair Value

$ (2)

^[24],[27]

Schedule Of Investments [Line Items]

Maturity

Dec. 29, 2026

Industry

Commercial Services & Supplies

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+615

^[26]

Basis point spread above index, Amount

615.00%

^[26]

Par / Shares

$ 9,579

Cost

9,475

Fair Value

$ 9,387

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 03, 2029

Industry

Aerospace and Defense

Current Coupon

11.62%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 9,218

Cost

9,093

Fair Value

$ 9,126

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 01, 2029

Industry

Business Services

Current Coupon

11.14%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 4,950

Cost

4,863

Fair Value

$ 4,604

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

11.83%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 8,978

Cost

8,874

Fair Value

$ 8,933

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 17, 2026

Industry

Distributors

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 15,132

Cost

14,928

Fair Value

$ 14,905

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 04, 2025

Industry

Consumer Products

Current Coupon

11.50%

Basis point spread above index, Percentage

SOFR+626

^[26]

Basis point spread above index, Amount

626.00%

^[26]

Par / Shares

$ 2,349

Cost

2,349

Fair Value

$ 2,349

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 26, 2029

Industry

Automotive

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 447

Cost

418

Fair Value

$ 420

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 14, 2023

Industry

Aerospace and Defense

Current Coupon

12.07%

Basis point spread above index, Percentage

SOFR+665

^[26]

Basis point spread above index, Amount

665.00%

^[26]

$ 4,011

2.00%

$ 4,010

$ 4,011

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 14, 2028

Industry

Distributors

Current Coupon

11.39%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 9,636

Cost

9,509

Fair Value

$ 9,636

^[24]

Schedule Of Investments [Line Items]

Maturity

May 16, 2025

Industry

High Tech Industries

Current Coupon

12.43%

Basis point spread above index, Percentage

SOFR+688

^[26]

Basis point spread above index, Amount

688.00%

^[26]

Par / Shares

$ 13,821

Cost

13,778

Fair Value

$ 13,579

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 20, 2026

Industry

Media

Current Coupon

11.60%

Basis point spread above index, Percentage

SOFR+619

^[26]

Basis point spread above index, Amount

619.00%

^[26]

Par / Shares

$ 6,820

Cost

6,722

Fair Value

$ 6,684

^[24]

Schedule Of Investments [Line Items]

Maturity

Apr. 10, 2025

Industry

Construction and Engineering

Current Coupon

10.15%

Basis point spread above index, Percentage

SOFR+476

^[26]

Basis point spread above index, Amount

476.00%

^[26]

Par / Shares

$ 5,499

Cost

5,455

Fair Value

$ 5,499

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2024

Industry

Business Services

Current Coupon

12.18%

Basis point spread above index, Percentage

SOFR+675

^[26]

Basis point spread above index, Amount

675.00%

^[26]

$ 9,232

1.00%

$ 9,201

$ 8,955

^[24]

Schedule Of Investments [Line Items]

Maturity

Oct. 28, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

9.32%

Basis point spread above index, Percentage

SOFR+400

^[26]

Basis point spread above index, Amount

400.00%

^[26]

Par / Shares

$ 6,797

Cost

6,559

Fair Value

$ 6,445

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 13, 2027

Industry

Media

Current Coupon

11.16%

Basis point spread above index, Percentage

SOFR+576

^[26]

Basis point spread above index, Amount

576.00%

^[26]

Par / Shares

$ 3,815

Cost

3,762

Fair Value

$ 3,681

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Commercial Services & Supplies

Current Coupon

10.90%

Basis point spread above index, Percentage

SOFR+551

^[26]

Basis point spread above index, Amount

551.00%

^[26]

Par / Shares

$ 2,089

Cost

2,067

Fair Value

$ 2,079

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 21, 2028

Industry

Media

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 2,627

Cost

2,418

Fair Value

$ 2,394

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 03, 2025

Industry

Consumer Goods: Durable

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 14,429

Cost

14,376

Fair Value

$ 14,256

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

Industry

Personal Products

Current Coupon

11.24%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 14,712

Cost

14,511

Fair Value

$ 14,712

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2024

Industry

Containers and Packaging

Current Coupon

11.89%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 10,904

Cost

10,838

Fair Value

$ 10,740

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2030

Industry

Hotel, Gaming and Leisure

Current Coupon

10.07%

Basis point spread above index, Percentage

SOFR+475

^[26]

Basis point spread above index, Amount

475.00%

^[26]

Par / Shares

$ 5,000

Cost

4,900

Fair Value

$ 4,985

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 10, 2029

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

11.64%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 8,955

Cost

8,833

Fair Value

$ 8,821

^[24]

Schedule Of Investments [Line Items]

Maturity

May 29, 2029

Industry

Diversified Consumer Services

Current Coupon

11.89%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 12,404

Cost

12,154

Fair Value

$ 12,193

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 17, 2024

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

11.00%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 2,219

Cost

2,200

Fair Value

$ 2,171

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 15, 2027

Industry

Software

Current Coupon

11.17%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 12,675

Cost

12,505

Fair Value

$ 12,422

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 17, 2028

Industry

Aerospace and Defense

Current Coupon

10.40%

Basis point spread above index, Percentage

SOFR+475

^[26]

Basis point spread above index, Amount

475.00%

^[26]

Par / Shares

$ 10,195

Cost

10,143

Fair Value

$ 10,114

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 16, 2026

Industry

Diversified Financial Services

Current Coupon

11.96%

Basis point spread above index, Percentage

SOFR+660

^[26]

Basis point spread above index, Amount

660.00%

^[26]

Par / Shares

$ 3,736

Cost

3,724

Fair Value

$ 3,549

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 10, 2027

Industry

Trading Companies & Distributors

Current Coupon

10.99%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 2,345

Cost

2,316

Fair Value

$ 2,322

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2024

Industry

Media

Current Coupon

11.75%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 3,014

Cost

2,988

Fair Value

$ 2,968

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2026

Industry

Insurance

Current Coupon

10.92%

Basis point spread above index, Percentage

SOFR+560

^[26]

Basis point spread above index, Amount

560.00%

^[26]

Par / Shares

$ 2,250

Cost

2,217

Fair Value

$ 2,194

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 23, 2028

Industry

Aerospace and Defense

Current Coupon

11.32%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 4,913

Cost

4,838

Fair Value

$ 4,913

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 03, 2028

Industry

IT Services

Current Coupon

11.06%

Basis point spread above index, Percentage

SOFR+560

^[26]

Basis point spread above index, Amount

560.00%

^[26]

Par / Shares

$ 3,940

Cost

3,886

Fair Value

$ 3,861

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 15, 2027

Industry

Software

Current Coupon

10.72%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 9,248

Cost

9,075

Fair Value

$ 9,110

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 31, 2024

Industry

Healthcare Providers and Services

Current Coupon

12.51%

Basis point spread above index, Percentage

SOFR+715

^[26]

Basis point spread above index, Amount

715.00%

^[26]

Par / Shares

$ 16,453

Cost

16,257

Fair Value

$ 16,453

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 28, 2028

Industry

Commercial Services & Supplies

Current Coupon

12.24%

Basis point spread above index, Percentage

SOFR+685

^[26]

Basis point spread above index, Amount

685.00%

^[26]

Par / Shares

$ 6,090

Cost

5,979

Fair Value

$ 6,090

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 01, 2029

Industry

Business Services

Current Coupon

11.87%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 18,904

Cost

18,532

Fair Value

$ 18,463

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2025

Industry

Diversified Consumer Services

Current Coupon

12.54%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

$ 11,105

2.25%

$ 11,083

$ 10,439

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 27, 2026

Industry

Insurance

Current Coupon

11.57%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 5,906

Cost

5,851

Fair Value

$ 5,847

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 30, 2025

Industry

Consumer Goods: Durable

Current Coupon

12.93%

Basis point spread above index, Percentage

SOFR+761

^[26]

Basis point spread above index, Amount

761.00%

^[26]

Par / Shares

$ 8,246

Cost

8,097

Fair Value

$ 8,081

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2023

Industry

Chemicals, Plastics and Rubber

Current Coupon

13.42%

Basis point spread above index, Percentage

SOFR+810

^[26]

Basis point spread above index, Amount

810.00%

^[26]

Par / Shares

$ 15,509

Cost

15,487

Fair Value

$ 15,509

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 10, 2027

Industry

Personal Products

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+615

^[26]

Basis point spread above index, Amount

615.00%

^[26]

Par / Shares

$ 16,662

Cost

16,346

Fair Value

$ 16,412

^[24]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2024

Industry

Capital Equipment

Current Coupon

11.74%

Basis point spread above index, Percentage

SOFR+643

^[26]

Basis point spread above index, Amount

643.00%

^[26]

Par / Shares

$ 15,042

Cost

14,997

Fair Value

$ 14,862

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 31, 2030

Industry

Environmental Industries

Current Coupon

11.77%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 2,585

Cost

2,537

Fair Value

$ 2,534

^[24]

Schedule Of Investments [Line Items]

Maturity

Feb. 18, 2027

Industry

Personal Products

Current Coupon

12.13%

Basis point spread above index, Percentage

SOFR+675

^[26]

Basis point spread above index, Amount

675.00%

^[26]

Par / Shares

$ 14,210

Cost

13,989

Fair Value

$ 14,068

^[24]

Schedule Of Investments [Line Items]

Maturity

Feb. 03, 2026

Industry

Healthcare Providers and Services

Current Coupon

10.70%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 12,056

Cost

11,911

Fair Value

$ 11,935

^[24]

Schedule Of Investments [Line Items]

Maturity

May 26, 2028

Industry

Consumer Products

Current Coupon

12.39%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 7,481

Cost

7,337

Fair Value

$ 7,369

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Lucky Bucks, LLC, Maturity 7/20/2027, Industry Hotel, Gaming and Leisure, Current Coupon 0.00%

Schedule Of Investments [Line Items]

Maturity

Jul. 20, 2027

^[28]

Industry

Hotel, Gaming and Leisure

^[28]

Current Coupon

0.00%

^[28]

Par / Shares

$ 4,489

^[28]

Cost

4,207

^[28]

Fair Value

$ 1,182

^[24],[28]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Hotel, Gaming and Leisure

Current Coupon

15.33%

Basis point spread above index, Percentage

SOFR+1000

^[26]

Basis point spread above index, Amount

1000.00%

^[26]

Par / Shares

$ 160

Cost

158

Fair Value

$ 160

^[24]

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2027

Industry

Aerospace and Defense

Current Coupon

10.99%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 2,097

Cost

2,007

Fair Value

$ 1,986

^[24]

Schedule Of Investments [Line Items]

Maturity

Apr. 16, 2027

Industry

Internet Software and Services

Current Coupon

11.17%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 7,859

Cost

7,758

Fair Value

$ 7,749

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 25, 2028

Industry

Chemicals, Plastics and Rubber

Current Coupon

11.32%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 6,380

Cost

6,271

Fair Value

$ 6,244

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 31, 2028

Industry

Software

Current Coupon

10.63%

Basis point spread above index, Percentage

SOFR+500

^[26]

Basis point spread above index, Amount

500.00%

^[26]

Par / Shares

$ 3,006

Cost

2,845

Fair Value

$ 2,228

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

Industry

Media: Diversified and Production

Current Coupon

10.94%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 647

Cost

647

Fair Value

$ 647

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2025

^[27]

Industry

Media: Diversified and Production

^[27]

Par / Shares

$ 589

^[27]

Schedule Of Investments [Line Items]

Maturity

Sep. 30, 2026

Industry

Media: Diversified and Production

Current Coupon

10.94%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 4,837

Cost

3,782

Fair Value

$ 4,837

^[24]

Schedule Of Investments [Line Items]

Maturity

May 14, 2026

Industry

Media

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 11,588

Cost

11,476

Fair Value

$ 11,472

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 10, 2027

Industry

Professional Services

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 2,372

Cost

2,336

Fair Value

$ 2,312

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 28, 2024

Industry

Capital Equipment

Current Coupon

11.29%

Basis point spread above index, Percentage

SOFR+515

^[26]

Basis point spread above index, Amount

515.00%

^[26]

Par / Shares

$ 5,769

Cost

5,763

Fair Value

$ 5,740

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 28, 2027

Industry

Distributors

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 3,430

Cost

3,380

Fair Value

$ 3,355

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 19, 2026

Industry

Healthcare, Education & Childcare

Current Coupon

10.93%

Basis point spread above index, Percentage

SOFR+525

^[26]

Basis point spread above index, Amount

525.00%

^[26]

Par / Shares

$ 10,711

Cost

10,572

Fair Value

$ 10,497

^[24]

Schedule Of Investments [Line Items]

Maturity

May 09, 2029

Industry

Insurance

Current Coupon

11.97%

Basis point spread above index, Percentage

SOFR+650

^[26]

Basis point spread above index, Amount

650.00%

^[26]

Par / Shares

$ 5,042

Cost

4,970

Fair Value

$ 5,042

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 06, 2024

Industry

Consumer Goods: Non-Durable

Current Coupon

10.92%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 14,213

Cost

14,194

Fair Value

$ 14,213

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 03, 2027

Industry

Consumer Finance

Current Coupon

12.84%

Basis point spread above index, Percentage

SOFR+725

^[26]

Basis point spread above index, Amount

725.00%

^[26]

Par / Shares

$ 2,223

Cost

2,202

Fair Value

$ 2,023

^[24]

Schedule Of Investments [Line Items]

Maturity

May 07, 2027

Industry

Air Freight and Logistics

Current Coupon

11.68%

Basis point spread above index, Percentage

SOFR+636

^[26]

Basis point spread above index, Amount

636.00%

^[26]

Par / Shares

$ 15,849

Cost

15,588

Fair Value

$ 15,849

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Output Services Group, Inc, Maturity 6/29/2026, Industry Business Services, Current Coupon 0.00%

Schedule Of Investments [Line Items]

Maturity

Jun. 27, 2026

^[28]

Industry

Business Services

^[28]

Current Coupon

0.00%

^[28]

Par / Shares

$ 7,759

^[28]

Cost

7,689

^[28]

Fair Value

$ 1,513

^[24],[28]

Schedule Of Investments [Line Items]

Maturity

Feb. 04, 2028

Industry

Professional Services

Current Coupon

10.80%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 3,893

Cost

3,832

Fair Value

$ 3,834

^[24]

Schedule Of Investments [Line Items]

Maturity

May 18, 2026

Industry

Construction and Building

Current Coupon

12.90%

Basis point spread above index, Percentage

SOFR+751

^[26]

Basis point spread above index, Amount

751.00%

^[26]

Par / Shares

$ 4,345

Cost

4,306

Fair Value

$ 4,269

^[24]

Schedule Of Investments [Line Items]

Maturity

Sep. 29, 2025

Industry

Wholesale

Current Coupon

10.68%

Basis point spread above index, Percentage

SOFR+500

^[26]

Basis point spread above index, Amount

500.00%

^[26]

Par / Shares

$ 9,493

Cost

9,282

Fair Value

$ 7,974

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 09, 2027

Industry

Textiles, Apparel and Luxury Goods

Current Coupon

12.42%

Basis point spread above index, Percentage

SOFR+710

^[26]

Basis point spread above index, Amount

710.00%

^[26]

$ 7,565

4.00%

$ 7,467

$ 6,809

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 02, 2026

Industry

Diversified Financial Services

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+640

^[26]

Basis point spread above index, Amount

640.00%

^[26]

Par / Shares

$ 11,474

Cost

11,267

Fair Value

$ 11,244

^[24]

Schedule Of Investments [Line Items]

Maturity

May 08, 2026

Industry

Consumer Goods: Durable

Current Coupon

10.57%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 2,551

Cost

2,491

Fair Value

$ 2,436

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 06, 2028

Industry

Education

Current Coupon

11.17%

Basis point spread above index, Percentage

SOFR+575

^[26]

Basis point spread above index, Amount

575.00%

^[26]

Par / Shares

$ 11,138

Cost

10,999

Fair Value

$ 10,636

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 19, 2026

Industry

Aerospace and Defense

Current Coupon

11.74%

Basis point spread above index, Percentage

SOFR+635

^[26]

Basis point spread above index, Amount

635.00%

^[26]

Par / Shares

$ 2,803

Cost

2,776

Fair Value

$ 2,761

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

Healthcare Providers and Services

Current Coupon

11.22%

Basis point spread above index, Percentage

SOFR+585

^[26]

Basis point spread above index, Amount

585.00%

^[26]

Par / Shares

$ 1,029

Cost

1,029

Fair Value

$ 1,029

^[24]

Schedule Of Investments [Line Items]

Maturity

Feb. 28, 2028

Industry

Air Freight and Logistics

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 4,938

Cost

4,876

Fair Value

$ 4,740

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 29, 2026

Industry

Leisure Products

Current Coupon

12.54%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 4,875

Cost

4,825

Fair Value

$ 4,729

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Diversified Consumer Services

Current Coupon

11.13%

Basis point spread above index, Percentage

SOFR+576

^[26]

Basis point spread above index, Amount

576.00%

^[26]

Par / Shares

$ 12,432

Cost

12,322

Fair Value

$ 10,878

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2029

Industry

High Tech Industries

Current Coupon

11.52%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 3,749

Cost

3,676

Fair Value

$ 3,692

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 11, 2026

Industry

Construction and Building

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 9,075

Cost

9,025

Fair Value

$ 8,894

^[24]

Schedule Of Investments [Line Items]

Maturity

Jan. 03, 2025

Industry

Professional Services

Current Coupon

11.59%

Basis point spread above index, Percentage

SOFR+620

^[26]

Basis point spread above index, Amount

620.00%

^[26]

Par / Shares

$ 9,522

Cost

9,474

Fair Value

$ 9,475

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 20, 2024

Industry

Wholesale

Current Coupon

12.92%

Basis point spread above index, Percentage

SOFR+760

^[26]

Basis point spread above index, Amount

760.00%

^[26]

$ 5,167

1.00%

$ 5,148

$ 5,116

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 14, 2025

Industry

Business Services

Current Coupon

12.52%

Basis point spread above index, Percentage

SOFR+715

^[26]

Basis point spread above index, Amount

715.00%

^[26]

$ 11,791

0.50%

$ 11,777

$ 11,407

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 13, 2029

Industry

Chemicals, Plastics and Rubber

Current Coupon

11.54%

Basis point spread above index, Percentage

SOFR+615

^[26]

Basis point spread above index, Amount

615.00%

^[26]

Par / Shares

$ 4,950

Cost

4,884

Fair Value

$ 4,802

^[24]

Schedule Of Investments [Line Items]

Maturity

Dec. 18, 2025

Industry

Aerospace and Defense

Current Coupon

14.04%

Basis point spread above index, Percentage

SOFR+865

^[26]

Basis point spread above index, Amount

865.00%

^[26]

Par / Shares

$ 13,787

Cost

13,579

Fair Value

$ 13,580

^[24]

Schedule Of Investments [Line Items]

Maturity

May 17, 2028

Industry

Business Services

Current Coupon

9.93%

Basis point spread above index, Percentage

SOFR+450

^[26]

Basis point spread above index, Amount

450.00%

^[26]

Par / Shares

$ 1,300

Cost

1,274

Fair Value

$ 1,272

^[24]

Schedule Of Investments [Line Items]

Maturity

Oct. 14, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

9.70%

Basis point spread above index, Percentage

SOFR+450

^[26]

Basis point spread above index, Amount

450.00%

^[26]

Par / Shares

$ 11,796

Cost

11,739

Fair Value

$ 10,598

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 17, 2025

Industry

Healthcare and Pharmaceuticals

Current Coupon

12.37%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 4,582

Cost

4,577

Fair Value

$ 4,563

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2028

Industry

Healthcare Technology

Current Coupon

11.04%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 4,112

Cost

4,047

Fair Value

$ 4,022

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

10.43%

Basis point spread above index, Percentage

SOFR+475

^[26]

Basis point spread above index, Amount

475.00%

^[26]

Par / Shares

$ 1,786

Cost

1,696

Fair Value

$ 1,779

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 16, 2027

Industry

Aerospace and Defense

Current Coupon

11.49%

Basis point spread above index, Percentage

SOFR+600

^[26]

Basis point spread above index, Amount

600.00%

^[26]

Par / Shares

$ 14,738

Cost

14,540

Fair Value

$ 14,575

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2025

Industry

Consumer Goods: Non-Durable

Current Coupon

10.95%

Basis point spread above index, Percentage

SOFR+565

^[26]

Basis point spread above index, Amount

565.00%

^[26]

Par / Shares

$ 8,654

Cost

8,556

Fair Value

$ 8,654

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 16, 2025

Industry

Diversified Consumer Services

Current Coupon

11.80%

Basis point spread above index, Percentage

SOFR+625

^[26]

Basis point spread above index, Amount

625.00%

^[26]

Par / Shares

$ 4,316

Cost

4,310

Fair Value

$ 4,316

^[24]

Schedule Of Investments [Line Items]

Maturity

Nov. 24, 2028

Industry

Healthcare and Pharmaceuticals

Current Coupon

10.75%

Basis point spread above index, Percentage

SOFR+500

^[26]

Basis point spread above index, Amount

500.00%

^[26]

Par / Shares

$ 346

Cost

333

Fair Value

$ 339

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 18, 2025

Industry

Business Services

Current Coupon

10.67%

Basis point spread above index, Percentage

SOFR+535

^[26]

Basis point spread above index, Amount

535.00%

^[26]

Par / Shares

$ 2,262

Cost

2,261

Fair Value

$ 2,259

^[24]

Schedule Of Investments [Line Items]

Maturity

Oct. 31, 2025

Industry

Aerospace and Defense

Current Coupon

12.04%

Basis point spread above index, Percentage

SOFR+665

^[26]

Basis point spread above index, Amount

665.00%

^[26]

Par / Shares

$ 5,602

Cost

5,560

Fair Value

$ 5,518

^[24]

Schedule Of Investments [Line Items]

Maturity

Jul. 27, 2026

Industry

Professional Services

Current Coupon

12.79%

Basis point spread above index, Percentage

SOFR+700

^[26]

Basis point spread above index, Amount

700.00%

^[26]

Par / Shares

$ 5,403

Cost

5,336

Fair Value

$ 5,382

^[24]

Schedule Of Investments [Line Items]

Maturity

Aug. 31, 2027

Industry

Construction and Engineering

Current Coupon

11.72%

Basis point spread above index, Percentage

SOFR+635

^[26]

Basis point spread above index, Amount

635.00%

^[26]

Par / Shares

$ 7,716

Cost

7,591

Fair Value

$ 7,656

^[24]

Schedule Of Investments [Line Items]

Maturity

Apr. 01, 2028

Industry

IT Services

Current Coupon

10.90%

Basis point spread above index, Percentage

SOFR+550

^[26]

Basis point spread above index, Amount

550.00%

^[26]

Par / Shares

$ 14,670

Cost

14,565

Fair Value

$ 13,379

^[24]

Schedule Of Investments [Line Items]

Maturity

Jun. 15, 2026

Industry

Healthcare and Pharmaceuticals

Current Coupon

11.79%

Basis point spread above index, Percentage

SOFR+665

^[26]

Basis point spread above index, Amount

665.00%

^[26]

Par / Shares

$ 6,892

Cost

6,775

Fair Value

$ 6,749

^[24]

Investment, Identifier [Axis]: Related Party PSSL First Lien Secured Debt - 1,347.5%- Issuer Name Walker Edison Furniture Company LLC - DDTL - Unfunded, Maturity 3/31/2027, Industry Wholesale

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

^[27]

Industry

Wholesale

^[27]

Par / Shares

$ 333

^[27]

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

11.68%

Basis point spread above index, Percentage

SOFR+635

^[26]

Basis point spread above index, Amount

635.00%

^[26]

Par / Shares

$ 1,667

Cost

1,667

Fair Value

$ 1,667

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 31, 2027

Industry

Wholesale

Current Coupon

12.18%

Basis point spread above index, Percentage

SOFR+685

^[26]

Basis point spread above index, Amount

685.00%

^[26]

Par / Shares

$ 3,521

Cost

3,521

Fair Value

$ 3,521

^[24]

Schedule Of Investments [Line Items]

Maturity

Feb. 27, 2026

Industry

Electronic Equipment, Instruments, and Components

Current Coupon

10.54%

Basis point spread above index, Percentage

SOFR+515

^[26]

Basis point spread above index, Amount

515.00%

^[26]

Par / Shares

$ 10,565

Cost

10,491

Fair Value

$ 10,460

^[24]

Schedule Of Investments [Line Items]

Maturity

Mar. 01, 2024

Industry

Automobiles

Current Coupon

12.67%

Basis point spread above index, Percentage

SOFR+735

^[26]

Basis point spread above index, Amount

735.00%

^[26]

Par / Shares

$ 16,732

Cost

16,660

Fair Value

16,188

^[24]

Investment, Identifier [Axis]: Related Party PSSL Investments

Schedule Of Investments [Line Items]

Cost

770,280

Fair Value

754,722

^[23]

Investment, Identifier [Axis]: Related Party PSSL Investments and Cash Equivalents (as restated) — 1,389.26%

Schedule Of Investments [Line Items]

Cost

800,432

Fair Value

784,874

^[23]

Investment, Identifier [Axis]: Related Party PSSL Liabilities in Excess of Other Assets (as restated) — (1,289.26)%

Schedule Of Investments [Line Items]

Liabilities in Excess of Other Assets

728,378

^[23]

Investment, Identifier [Axis]: Related Party PSSL Members Equity—100.0%

Schedule Of Investments [Line Items]

Members' Equity

56,496

^[23]

Investment, Identifier [Axis]: Related Party PSSL Second Lien Secured Debt - 5.0%

Schedule Of Investments [Line Items]

Cost

2,963

Fair Value

2,955

^[23]

Investment, Identifier [Axis]: Related Party PSSL, Cash and Cash Equivalents - 133.2%, BlackRock Federal FD Institutional 30

Schedule Of Investments [Line Items]

Cost

77,446

Fair Value

77,446

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Equity - 100.0%

Schedule Of Investments [Line Items]

Fair Value

58,150

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Liabilities in Excess of Other Assets — (1,385.4)%

Schedule Of Investments [Line Items]

Fair Value

(805,155)

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Total Cash and Cash Equivalents

Schedule Of Investments [Line Items]

Cost

77,446

Fair Value

77,446

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Total Investments - 1,351.4%

Schedule Of Investments [Line Items]

Cost

804,608

Fair Value

785,859

^[24]

Investment, Identifier [Axis]: Related Party PSSL, Total Investments and Cash Equivalents —1,485.4%

Schedule Of Investments [Line Items]

Cost

882,054

Fair Value

863,305

^[24]

Investment, Identifier [Axis]: Total Cash and Cash Equivalents

Schedule Of Investments [Line Items]

Cost

100,555

^[2],[3]

51,452

^[5],[6]

Fair Value

100,555

^[2],[3],[4]

51,488

^[5],[6],[7]

Investment, Identifier [Axis]: Total Investments and Cash Equivalents—178.6%

Schedule Of Investments [Line Items]

Cost

1,193,433

^[2],[3]

Fair Value

1,167,729

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments and Cash Equivalents—230.0%

Schedule Of Investments [Line Items]

Cost

1,228,809

^[5],[6]

Fair Value

1,215,742

^[5],[6],[7]

Investment, Identifier [Axis]: Total Investments in Controlled, Affiliated Portfolio Companies

Schedule Of Investments [Line Items]

Cost

324,639

^[2],[3]

Fair Value

294,996

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments in Non-Controlled, Non-Affiliated Portfolio Companies— 118.1%

Schedule Of Investments [Line Items]

Cost

768,240

^[2],[3]

Fair Value

772,178

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments—163.3%

Schedule Of Investments [Line Items]

Cost

1,092,878

^[2],[3]

Fair Value

1,067,174

^[2],[3],[4]

Investment, Identifier [Axis]: Total Investments—220.9%

Schedule Of Investments [Line Items]

Cost

1,177,357

^[5],[6]

Fair Value

1,164,254

^[5],[6],[7]

Marketplace Events, LLC

Schedule Of Investments [Line Items]

Fair Value

34,028

31,390

PennantPark Senior Secured Loan Fund I LLC

Schedule Of Investments [Line Items]

Cost

804,608

770,280

Fair Value

785,859

754,722

Members' Equity

$ 58,150

$ 56,496

[1]	Represents the purchase of a security with delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[2]	The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.
[3]	The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
[4]	Valued based on our accounting policy (See Note 2). The value of all securities was determined using significant unobservable inputs (See Note 5).
[5]	The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.
[6]	The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
[7]	Valued based on our accounting policy (See Note 2). The value of all securities was determined using significant unobservable inputs (See Note 5).
[8]	Investment is held through our Taxable Subsidiary (See Note 1).
[9]	The securities, or a portion thereof, are not 1) pledged as collateral under the Credit Facility and held through Funding I; or 2) securing the 2031 Asset-Backed Debt (See Note 11) and held through PennantPark CLO I, Ltd.
[10]	The investment is treated as a non-qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets. As of September 30, 2023, qualifying assets represent 76% of our total assets and non-qualifying assets represent 24% of our total assets.
[11]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured Overnight Financing Rate, or “SOFR”, or Prime rate, or “P, or Sterling Overnight Index Average, or “SONIA.” The spread may change based on the type of rate used. The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans are typically indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower’s option. SONIA loans are typically indexed daily for GBP loans with a quarterly frequency payment. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[12]	Investment is held through our Taxable Subsidiary (See Note 1).
[13]	The securities, or a portion thereof, are not 1) pledged as collateral under the Credit Facility and held through Funding I; or 2) securing the 2031 Asset-Backed Debt (See Note 11) and held through PennantPark CLO I, Ltd.
[14]	Represents the purchase of a security with delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[15]	The investment is treated as a non-qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets. As of September 30, 2022, qualifying assets represent 81% of our total assets and non-qualifying assets represent 19% of our total assets.
[16]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable LIBOR or “L” or Prime rate, or “P.” The spread may change based on the type of rate used. The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to a 30-day, 60-day, 90-day or 180-day LIBOR rate (1M L, 2M L, 3M L, or 6M L, respectively), at the borrower’s option. All securities are subject to a LIBOR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[17]	Non-income producing securities.
[18]	Non-U.S. company or principal place of business outside the United States.
[19]	Non-income producing securities.
[20]	Non-U.S. company or principal place of business outside the United States.
[21]	Par amount is denominated in Australian Dollars (AUD) as denoted.
[22]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable LIBOR, or “L”, Secured Overnight Financing Rate or "SOFR", or Prime rate or “P”. The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to a 30-day, 60-day, 90-day or 180-day SOFR rate (1M S, 2M S, 3M S, or 6M S, respectively), at the borrower’s option. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[23]	Valued based on PSSL’s accounting policy.
[24]	Valued based on PSSL’s accounting policy.
[25]	Represents the purchase of a security with a delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[26]	Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured Overnight Financing Rate or "SOFR", or Prime rate or “P”. The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes PIK interest and other fee rates, if any.
[27]	Represents the purchase of a security with a delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.
[28]	Security currently on interest non-accrual status.

Taxes and Distributions

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Taxes and Distributions

8. TAXES AND DISTRIBUTIONS

Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal tax regulations, which may materially differ from amounts determined in accordance with GAAP. These book-to-tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are reclassified to undistributed net investment income, accumulated net realized gain or paid-in-capital, as appropriate. Distributions from net realized capital gains, if any, are normally declared and paid annually, but the Company may make distributions on a more frequent basis to comply with the distribution requirements for RICs under the Code.

As of September 30, 2023 and 2022, the cost of investments for federal income tax purposes approximates amortized cost reported in the Consolidated Schedule of Investments.

The following amounts were reclassified for tax purposes (in thousands):


	Years Ended September 30,
	2023			2022			2021
Decrease in paid-in capital	$	(531	)	$	(492	)	$	(369	)
Decrease in accumulated net realized loss		(1,645	)		1,118			(292	)
Increase in undistributed net investment income		2,176			(625	)		661

The following reconciles net increase in net assets resulting from operations to taxable income:


	Years Ended September 30,
	2023			2022			2021
Net increase in net assets resulting from operations	$	39,261		$	3,453		$	56,516
Net realized loss on investments		16,155			11,106			12,796
Net change in unrealized depreciation (appreciation) on investments and debt		12,075			34,023			(29,686	)
Other book-to-tax differences		(5,081	)		(549	)		3,153
Other non-deductible expenses		1,924			993			846
Taxable income before dividends paid deduction	$	64,334		$	49,026		$	43,625

The components of undistributed taxable income on a tax basis and reconciliation to accumulated surplus on a book basis are as follows (in thousands):


	As of September 30,
	2023			2022			2021
Undistributed ordinary income – tax basis	$	17,158		$	11,141		$	8,415
Short-term realized loss carried forward		(16,544	)		(24,655	)		(6,452	)
Long-term realized loss carried forward		(78,796	)		(65,977	)		(59,136	)
Distributions payable and other book to tax differences		(5,959	)		3,933			(9,669	)
Net unrealized appreciation (depreciation) of investments and debt		(27,499	)		(15,423	)		18,600
Total accumulated deficit – book basis	$	(111,641	)	$	(90,981	)	$	(48,242	)

The tax characteristics of distributions declared are as follows (in thousands):


	Years Ended September 30,
	2023		2022		2021
Ordinary income (including short-term gains, if any)	$	60,451	$	46,685	$	44,207
Long-term capital gain		—		—		—
Total distributions	$	60,451	$	46,685	$	44,207
Total distributions per share based on weighted average shares	$	1.19	$	1.14	$	1.14

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Commitments and Contingencies

12 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. COMMITMENTS AND CONTINGENCIES

From time to time, we, the Investment Adviser or the Administrator may be a party to legal proceedings, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our financial condition or results of operations. Unfunded debt and equity investments, if any, are disclosed in the Consolidated Schedules of Investments. As of September 30, 2023 and 2022, we had $155.5 million and $150.6 million, respectively, in commitments to fund investments. Additionally, as described in Note 4, the Company had unfunded commitments of up to $39.4 million and $28.4 million to PSSL as of September 30, 2023 and 2022, respectively, that may be contributed primarily for the purpose of funding new investments approved by the PSSL board of directors or investment committee.

Investments - Consolidated Statements of Assets and Liabilities for PSSL (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Assets
Total of investments	$ 1,067,174	$ 1,164,254
Cash and cash equivalents (amortized cost -$77,882 and $33,725, respectively)	100,555	51,488
Interest receivable	10,423	7,543
Prepaid expenses and other assets	894	748
Total assets	1,179,611	1,227,474
Liabilities
Credit Facility payable	9,400	167,563
Notes payable to members	76,200	97,000
Payable for investments purchased	4,905	0
Interest payable on notes to members	8,615	8,163
Accrued other expenses	1,287	765
Total liabilities	526,006	700,382
Commitments and contingencies
Total liabilities and net assets	1,179,611	1,227,474
PennantPark Senior Secured Loan Fund I LLC
Assets
Total of investments	785,859	754,722
Cash and cash equivalents (amortized cost -$77,882 and $33,725, respectively)	77,446	30,152
Interest receivable	5,179	3,025
Receivable for investments sold	0	3,637
Prepaid expenses and other assets	490	1,722
Due from affiliate	436	3,553
Total assets	869,410	796,811
Liabilities
Credit Facility payable	48,600	259,500
2032 Asset-backed debt, net (par-$246,000)	243,973	243,365
2035 Asset-backed debt net (par-$246,000)	243,483	0
Notes payable to members	240,100	217,350
Interest payable on Credit Facility and asset backed debt	14,291	3,817
Payable for investments purchased	13,466	10,414
Interest payable on notes to members	6,488	4,719
Accrued other expenses	859	1,150
Total liabilities	811,260	740,315
Commitments and contingencies
Members' equity	58,150	56,496
Total liabilities and net assets	$ 869,410	$ 796,811

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Long-Term Credit Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Line of credit facility amendment costs	$ 0.0	$ 0.0	$ 2.9
Net change in unrealized (appreciation) depreciation on debt	(2.3)	(4.9)	$ (11.6)
Prior Credit Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Net change in unrealized depreciation on debt	$ 0.0	$ (1.5)

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Commitments And Contingencies Disclosure [Line Items]
Commitments to fund investments	$ 155.5	$ 150.6
Maximum
Commitments And Contingencies Disclosure [Line Items]
Unfunded commitments	$ 39.4	$ 28.4