Quarterly report pursuant to Section 13 or 15(d)

Consolidated Schedule of Investments In and Advances to Affiliates (Tables)

v3.24.1.1.u2
Consolidated Schedule of Investments In and Advances to Affiliates (Tables)
3 Months Ended
Mar. 31, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Majority-owned investments
Analytical Systems Keco Holdings, LLC 15.38% SF+ 10.00% Secured Debt (12) (8) $ —  $ —  $ —  $ 219  $ —  $ —  $ 219 
15.38% SF+ 10.00% Secured Debt (8) —  —  166  4,084  17  70  4,031 
14.13% Preferred Member Units (8) —  —  —  —  —  —  — 
Preferred Member Units (8) —  690  —  4,860  690  —  5,550 
Warrants (8) —  —  —  —  —  —  — 
Brewer Crane Holdings, LLC 15.48% SF+ 10.00% Secured Debt (9) —  —  210  5,498  —  124  5,374 
Preferred Member Units (9) —  100  30  5,620  100  —  5,720 
Café Brazil, LLC Member Units (8) —  (71) 1,980  —  71  1,909 
California Splendor Holdings LLC 14.00%     4.00% Secured Debt (9) —  (79) 1,088  27,655  78  27,583 
Preferred Member Units (9) —  —  63  15,695  —  —  15,695 
15.00% 15.00% Preferred Member Units (9) —  —  208  4,601  5,208  —  9,809 
Clad-Rex Steel, LLC 12.00%     Secured Debt (12) (5) —  —  —  —  —  — 
12.00%     Secured Debt (5) —  —  261  8,422  —  12  8,410 
10.00% Secured Debt (5) —  —  25  1,004  —  995 
Member Units (5) —  (1,140) —  5,200  —  1,140  4,060 
Member Units (5) —  (179) —  1,129  —  179  950 
Cody Pools, Inc. 12.50% Secured Debt (12) (8) —  24  —  1,264  1,264  — 
12.50% Secured Debt (8) —  (3) 1,312  42,073  639  41,437 
Preferred Member Units (8) —  1,730  612  72,470  1,730  —  74,200 
CompareNetworks Topco, LLC 14.48% SF+ 9.00% Secured Debt (9) —  —  —  —  —  —  — 
14.48% SF+ 9.00% Secured Debt (9) —  69  127  3,454  —  292  3,162 
Preferred Member Units (9) —  (430) —  14,450  —  430  14,020 
Cybermedia Technologies, LLC 10.00% Secured Debt (12) (6) —  —  —  —  —  — 
13.00% Secured Debt (6) —  —  946  28,389  17  362  28,044 
Preferred Member Units (6) —  1,020  896  15,000  1,020  —  16,020 
Datacom, LLC 7.50% Secured Debt (8) —  —  447  225  180  492 
10.00% Secured Debt (8) —  —  247  7,587  37  67  7,557 
Preferred Member Units (8) —  80  —  70  80  —  150 
Direct Marketing Solutions, Inc. 14.00%     Secured Debt (9) —  (7) 37  1,233  1,282  2,515  — 
14.00% Secured Debt (9) —  (11) 906  25,543  11  421  25,133 
Preferred Stock (9) —  (500) —  20,740  —  500  20,240 
Elgin AcquireCo, LLC 11.38% SF+ 6.00% Secured Debt (12) (5) —  —  (7) —  —  (7)
12.00% Secured Debt (5) —  —  569  18,632  13  470  18,175 
9.00% Secured Debt (5) —  —  143  6,252  12  6,241 
Common Stock (5) —  —  —  6,090  —  —  6,090 
Common Stock (5) —  —  —  1,670  —  —  1,670 
Gamber-Johnson Holdings, LLC 10.00% SF+ 7.00% Secured Debt (12) (5) —  —  —  —  —  — 
10.00% SF+ 7.00% Secured Debt (5) —  (24) 1,368  54,078  24  1,624  52,478 
Member Units (5) —  9,840  1,493  96,710  9,840  —  106,550 
GRT Rubber Technologies LLC 11.48% SF+ 6.00% Secured Debt (12) (8) —  —  70  2,400  —  —  2,400 
13.48% SF+ 8.00% Secured Debt (8) —  (12) 1,391  40,493  12  12  40,493 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Member Units (8) —  —  42  44,440  —  —  44,440 
Gulf Publishing Holdings, LLC 14.98% SF+ 9.50% Secured Debt (12) (8) —  —  —  —  —  —  — 
12.50% Secured Debt (8) —  —  76  2,284  —  —  2,284 
Preferred Equity (8) —  (930) —  2,460  —  930  1,530 
Member Units (8) —  —  —  —  —  —  — 
IG Investor, LLC 13.00% Secured Debt (12) (6) —  —  (35) —  (33)
13.00% Secured Debt (6) —  —  1,232  36,934  22  440  36,516 
Common Equity (6) —  —  —  14,400  —  —  14,400 
Jensen Jewelers of Idaho, LLC 15.25% P+ 6.75% Secured Debt (12) (9) —  —  —  —  —  — 
15.25% P+ 6.75% Secured Debt (9) —  —  76  1,998  —  98  1,900 
Member Units (9) —  240  456  12,420  240  —  12,660 
Kickhaefer Manufacturing Company, LLC 12.00% Secured Debt (5) —  —  603  19,774  —  19,776 
9.00% Secured Debt (5) —  —  87  3,805  —  10  3,795 
Preferred Equity (5) —  890  —  9,690  890  —  10,580 
Member Units (5) —  —  31  2,730  —  —  2,730 
Metalforming Holdings, LLC 11.75% Secured Debt (12) (7) —  —  —  —  —  — 
11.75% Secured Debt (7) —  —  724  23,623  20  1,146  22,497 
8.00% 8.00% Preferred Equity (7) —  118  —  6,035  118  119  6,034 
Common Stock (7) —  980  382  1,500  980  —  2,480 
MH Corbin Holding LLC 14.00% Secured Debt (5) —  —  184  5,022  —  80  4,942 
Preferred Member Units (5) —  —  —  330  —  —  330 
Preferred Member Units (5) —  —  —  —  —  —  — 
MSC Adviser I, LLC Member Units (8) —  11,197  3,000  174,063  11,197  —  185,260 
Mystic Logistics Holdings, LLC 10.00% Secured Debt (12) (6) —  —  —  —  —  — 
10.00% Secured Debt (6) —  20  145  5,746  —  —  5,746 
Common Stock (6) —  —  992  26,390  —  —  26,390 
OMi Topco, LLC 12.00% Secured Debt (8) —  (10) 396  12,750  10  760  12,000 
Preferred Member Units (8) —  4,840  675  36,380  4,840  —  41,220 
PPL RVs, Inc. 14.23% SF+ 8.75% Secured Debt (8) —  —  —  —  —  —  — 
14.23% SF+ 8.75% Secured Debt (8) —  (14) 726  19,877  14  258  19,633 
Common Stock (8) —  (1,110) —  16,980  —  1,110  15,870 
Common Stock (8) —  —  —  368  —  —  368 
Principle Environmental, LLC 13.00% Secured Debt (8) —  —  200  5,829  —  5,835 
Preferred Member Units (8) —  —  246  10,750  —  —  10,750 
Common Stock (8) —  —  —  510  —  —  510 
Quality Lease Service, LLC Member Units (7) —  —  —  460  —  —  460 
Robbins Bros. Jewelry, Inc. 12.50%     Secured Debt (9) —  —  (26) —  (24)
12.50%     Secured Debt (9) —  (5,999) 1,083  30,798  20  6,449  24,369 
Preferred Equity (9) —  —  —  —  —  — 
Trantech Radiator Topco, LLC 11.50% Secured Debt (12) (7) —  —  —  —  —  — 
13.50% Secured Debt (7) —  77  252  7,920  —  —  7,920 
Common Stock (7) —  (1,130) 29  12,740  —  1,130  11,610 
Volusion, LLC 10.00% Secured Debt (8) —  —  53  2,100  —  —  2,100 
Preferred Member Units (8) —  —  —  —  —  —  — 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Preferred Member Units (8) —  1,015  —  7,250  1,015  1,015  7,250 
Preferred Member Units (8) —  —  —  —  —  —  — 
Common Stock (8) —  —  —  —  —  —  — 
Ziegler’s NYPD, LLC 12.00% Secured Debt (8) —  —  14  450  —  —  450 
6.50% Secured Debt (8) —  —  16  945  —  —  945 
14.00% Secured Debt (8) —  (113) 97  2,080  —  113  1,967 
Preferred Member Units (8) —  —  —  —  —  —  — 
Warrants (8) —  —  —  —  —  —  — 
Other controlled investments
2717 MH, L.P. LP Interests (2717 MH, L.P.) (8) 10  —  40  6,050  10  10  6,050 
LP Interests (2717 HPP-MS, L.P.) (12) (8) —  —  —  315  —  —  315 
ASC Interests, LLC 13.00% Secured Debt (8) —  —  13  400  —  —  400 
13.00% Secured Debt (8) —  —  54  1,597  —  1,598 
Preferred Member Units (8) —  —  —  266  —  —  266 
Member Units (8) —  —  —  100  —  —  100 
ATS Workholding, LLC 5.00% Secured Debt (9) —  (238) —  328  167  238  257 
5.00% Secured Debt (9) —  (130) —  473  —  130  343 
Preferred Member Units (9) —  —  —  —  —  —  — 
Barfly Ventures, LLC 7.00% Secured Debt (12) (5) —  —  13  711  —  —  711 
Member Units (5) —  480  —  4,140  480  —  4,620 
Batjer TopCo, LLC 10.00% Secured Debt (12) (8) —  —  —  450  —  450 
10.00% Secured Debt (12) (8) —  —  270  —  —  270 
10.00% Secured Debt (8) —  (5) 273  10,575  10,575 
Preferred Stock (8) —  —  351  6,150  —  6,149 
Bolder Panther Group, LLC 13.46% SF+ 8.09% Secured Debt (9) —  10  3,308  96,556  7,536  660  103,432 
8.00% Class B Preferred Member Units (9) —  1,990  875  31,020  1,990  —  33,010 
Bridge Capital Solutions Corporation 13.00% Secured Debt (6) —  —  290  8,813  —  —  8,813 
13.00% Secured Debt (6) —  —  33  1,000  —  —  1,000 
Preferred Member Units (6) —  —  25  1,000  —  —  1,000 
Warrants (6) —  —  —  1,808  —  —  1,808 
Warrants (6) —  —  —  2,482  —  —  2,482 
CBT Nuggets, LLC Member Units (9) —  —  824  50,130  —  —  50,130 
Centre Technologies Holdings, LLC 14.48% SF+ 9.00% Secured Debt (12) (8) —  —  —  —  —  — 
14.48% SF+ 9.00% Secured Debt (8) —  257  522  —  21,974  —  21,974 
14.48% SF+ 9.00% Secured Debt (8) —  (62) 281  17,574  —  17,574  — 
Preferred Member Units (8) —  1,109  30  11,040  1,109  —  12,149 
Chamberlin Holding LLC 11.49% SF+ 6.00% Secured Debt (12) (8) —  (22) 25  —  22  22  — 
13.49% SF+ 8.00% Secured Debt (8) —  —  533  15,620  —  —  15,620 
Member Units (8) —  250  1,464  29,320  250  —  29,570 
Member Units (8) —  140  23  2,860  140  —  3,000 
Charps, LLC 10.00% Unsecured Debt (5) —  (122) 264  5,694  122  122  5,694 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Preferred Member Units (5) —  350  —  15,690  350  —  16,040 
Colonial Electric Company LLC 12.00% Secured Debt (6) —  —  —  —  —  — 
12.00% Secured Debt (6) —  319  662  21,627  339  1,995  19,971 
Preferred Member Units (6) —  —  —  2,400  —  —  2,400 
Preferred Member Units (6) —  650  94  7,680  650  —  8,330 
Compass Systems & Sales, LLC 13.50% Secured Debt (5) —  —  —  —  —  —  — 
13.50% Secured Debt (5) —  —  595  17,034  —  17,042 
Preferred Equity (5) —  —  60  7,454  —  —  7,454 
Copper Trail Fund Investments LP Interests (CTMH, LP) (9) —  —  —  568  —  —  568 
Digital Products Holdings LLC 15.38% SF+ 10.00% Secured Debt (5) —  —  583  14,690  22  1,452  13,260 
Preferred Member Units (5) —  —  50  9,835  —  —  9,835 
Garreco, LLC 9.50% SF+ 8.00% Secured Debt (8) —  —  74  3,088  —  —  3,088 
Member Units (8) —  —  28  1,580  —  —  1,580 
Harrison Hydra-Gen, Ltd. Common Stock (8) —  260  —  4,660  260  —  4,920 
JorVet Holdings, LLC 12.00% Secured Debt (9) —  —  791  25,483  13  —  25,496 
Preferred Equity (9) —  —  243  10,741  —  —  10,741 
KBK Industries, LLC 9.00% Secured Debt (5) —  (4) 110  4,700  204  4,500 
Member Units (5) —  1,590  572  22,770  1,590  —  24,360 
MS Private Loan Fund I, LP 5.00% Secured Debt (12) (8) —  —  13  —  5,000  3,000  2,000 
LP Interests (12) (8) —  —  508  14,527  —  —  14,527 
MS Private Loan Fund II, LP 8.88% SF+ 3.50% Secured Debt (12) (8) —  —  703  23,367  9,520  5,000  27,887 
LP Interests (12) (8) —  85  26  1,561  1,795  —  3,356 
MSC Income Fund, Inc. Common Equity (8) —  (108) 523  10,025  2,501  108  12,418 
NAPCO Precast, LLC Member Units (8) —  330  32  11,730  330  —  12,060 
Nebraska Vet AcquireCo, LLC 12.48% SF+ 7.00% Secured Debt (12) (5) —  —  —  —  —  — 
11.50% Secured Debt (5) —  (15) 778  25,794  15  15  25,794 
11.50% Secured Debt (5) —  (5) 315  10,500  10,500 
Preferred Member Units (5) —  4,390  362  15,020  4,390  —  19,410 
NexRev LLC 10.00% Secured Debt (12) (8) —  —  —  1,600  —  1,600 
10.00% Secured Debt (8) —  —  261  9,751  13  —  9,764 
Preferred Member Units (8) —  1,860  103  6,350  1,860  —  8,210 
NRP Jones, LLC 12.00% Secured Debt (5) —  —  63  2,080  —  —  2,080 
Member Units (5) —  —  —  1,466  —  —  1,466 
Member Units (5) —  —  —  53  —  —  53 
NuStep, LLC 11.98% SF+ 6.50% Secured Debt (5) —  —  111  3,600  —  —  3,600 
12.00% Secured Debt (5) —  —  562  18,426  —  18,429 
Preferred Member Units (5) —  960  —  9,240  960  —  10,200 
Preferred Member Units (5) —  —  —  5,150  —  —  5,150 
Orttech Holdings, LLC 16.48% SF+ 11.00% Secured Debt (12) (5) —  —  —  —  —  —  — 
16.48% SF+ 11.00% Secured Debt (5) —  (12) 926  22,040  12  92  21,960 
Preferred Stock (5) —  (710) 60  17,050  —  710  16,340 
Pearl Meyer Topco LLC 12.00% Secured Debt (6) —  —  122  3,500  1,500  —  5,000 
12.00% Secured Debt (6) —  19  633  20,000  4,000  —  24,000 
12.00% Secured Debt (6) —  (8) 848  27,681  27,681 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Preferred Equity (6) —  5,050  2,829  44,090  5,050  —  49,140 
Pinnacle TopCo, LLC 8.00% Secured Debt (12) (8) —  —  444  240  205 
13.00% Secured Debt (8) —  —  1,022  30,339  15  —  30,354 
Preferred Equity (8) —  —  316  12,540  —  —  12,540 
River Aggregates, LLC Member Units (8) —  —  —  3,710  —  —  3,710 
Tedder Industries, LLC 12.00% Secured Debt (9) —  —  56  1,726  —  —  1,726 
12.00% Secured Debt (9) —  (6,323) 461  14,262  —  6,323  7,939 
Preferred Member Units (9) —  —  —  —  —  —  — 
Preferred Member Units (9) —  —  —  —  —  —  — 
Preferred Member Units (9) —  —  —  —  —  —  — 
Televerde, LLC Member Units (8) —  (1,415) —  4,734  —  1,415  3,319 
Preferred Stock (8) —  —  —  1,794  —  —  1,794 
Vision Interests, Inc. Series A Preferred Stock (9) —  —  —  3,000  —  —  3,000 
VVS Holdco LLC 11.48% SF+ 6.00% Secured Debt (12) (5) —  —  —  —  —  — 
11.50% Secured Debt (5) —  —  834  28,035  14  —  28,049 
Preferred Equity (5) —  —  100  12,240  —  —  12,240 
—  —  —  —  —  —  — 
—  —  —  —  —  —  — 
Other —  —  —  —  —  —  — 
Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  1,354  9,070  —  —  — 
Total Control investments $ 10  $ 32,070  $ 51,119  $ 2,006,698  $ 117,042  $ 63,458  $ 2,051,212 
Affiliate Investments
423 HAR, LP LP Interests (423 HAR, L.P.) (8) $ —  $ —  $ —  $ 996  $ $ —  $ 997 
AAC Holdings, Inc. 18.00% 18.00% Secured Debt (12) (7) —  (1) 22  418  37  454 
18.00% 18.00% Secured Debt (7) —  (21) 685  13,895  1,200  21  15,074 
Common Stock (7) —  —  —  —  —  —  — 
Warrants (7) —  —  —  —  —  —  — 
Boccella Precast Products LLC 10.00% Secured Debt (6) —  —  320  —  —  320 
Member Units (6) —  (960) 1,990  —  960  1,030 
Buca C, LLC 12.00% Secured Debt (7) —  —  563  12,144  —  —  12,144 
6.00% 6.00% Preferred Member Units (7) —  —  —  —  —  —  — 
Career Team Holdings, LLC 11.38% SF+ 6.00% Secured Debt (12) (6) —  —  34  881  902  1,801  (18)
13.00% Secured Debt (6) —  —  668  19,906  11  180  19,737 
Common Stock (6) —  —  —  4,500  —  —  4,500 
Classic H&G Holdings, LLC 11.63% SF+ 6.00% Secured Debt (12) (6) —  —  134  4,560  —  800  3,760 
8.00% Secured Debt (6) —  (11) 400  19,274  11  11  19,274 
Preferred Member Units (6) —  1,470  312  16,000  1,470  —  17,470 
Congruent Credit Opportunities Funds LP Interests (Congruent Credit Opportunities Fund III, LP) (8) —  (51) 74  4,352  —  530  3,822 
DMA Industries, LLC 12.00% Secured Debt (7) —  (10) 580  18,800  10  10  18,800 
Preferred Equity (7) —  (1,720) —  7,660  —  1,720  5,940 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Dos Rios Partners LP Interests (Dos Rios Partners, LP) (8) —  —  —  8,443  —  —  8,443 
LP Interests (Dos Rios Partners - A, LP) (8) —  —  —  2,631  —  —  2,631 
Dos Rios Stone Products LLC Class A Preferred Units (8) —  —  —  1,580  —  —  1,580 
EIG Fund Investments LP Interests (EIG Global Private Debt Fund-A, L.P.) (8) —  —  20  760  —  761 
Flame King Holdings, LLC Preferred Equity (9) —  —  680  27,900  —  —  27,900 
Freeport Financial SBIC Fund LP LP Interests (Freeport Financial SBIC Fund LP) (12) (5) —  (77) —  3,012  —  77  2,935 
LP Interests (Freeport First Lien Loan Fund III LP) (12) (5) —  —  138  3,704  —  3,705 
GFG Group, LLC 8.00% Secured Debt (5) —  (5) 194  9,345  9,345 
Preferred Member Units (5) —  (1,650) 654  11,460  —  1,650  9,810 
Gulf Manufacturing, LLC 13.00% SF+ 7.63% Secured Debt (12) (8) —  49  102  —  —  —  — 
13.00% SF+ 7.63% Secured Debt (8) —  394  1,552  —  40,000  —  40,000 
Member Units (8) —  2,490  924  9,070  2,490  —  11,560 
Hawk Ridge Systems, LLC 11.53% SF+ 6.00% Secured Debt (9) —  —  64  1,974  2,182  2,720  1,436 
12.50% Secured Debt (9) —  (14) 1,444  45,256  14  14  45,256 
Preferred Member Units (9) —  430  —  17,460  430  —  17,890 
Preferred Member Units (9) —  20  —  920  20  —  940 
Houston Plating and Coatings, LLC 8.00% Unsecured Convertible Debt (8) —  60  61  2,880  60  —  2,940 
Member Units (8) —  (130) 3,340  —  130  3,210 
HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (12) (8) —  —  —  4,225  —  —  4,225 
LP Interests (HPEP 4, L.P.) (12) (8) —  —  —  3,773  —  —  3,773 
LP Interests (423 COR, L.P.) (12) (8) —  —  —  1,869  —  —  1,869 
I-45 SLF LLC
Member Units (Fully diluted 20.0%; 21.75% profits interest)
(8) (7,107) 6,710  429  13,490  —  13,490  — 
Independent Pet Partners Intermediate Holdings, LLC Common Equity (6) —  220  —  17,690  220  —  17,910 
Infinity X1 Holdings, LLC 13.00% Secured Debt (9) —  —  580  17,403  10  224  17,189 
Preferred Equity (9) —  —  98  4,000  368  —  4,368 
Integral Energy Services 13.09% SF+ 7.50% Secured Debt (8) —  236  511  13,891  267  1,355  12,803 
10.00% 10.00% Preferred Equity (8) —  —  300  —  309 
Common Stock (8) —  140  11  160  140  —  300 
Iron-Main Investments, LLC 13.50% Secured Debt (5) —  —  156  4,487  —  4,489 
13.50% Secured Debt (5) —  —  101  2,922  —  2,923 
13.50% Secured Debt (5) —  —  305  8,944  —  —  8,944 
13.50% Secured Debt (5) —  —  677  19,503  —  19,511 
13.50% Secured Debt (5) —  —  380  10,273  23  201  10,095 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Common Stock (5) —  —  —  2,680  —  —  2,680 
ITA Holdings Group, LLC 16.53% SF+ 9.00% 2.00% Secured Debt (12) (8) —  —  36  816  —  821 
16.53% SF+ 9.00% 2.00% Secured Debt (12) (8) —  —  32  697  —  702 
15.53% SF+ 8.00% 2.00% Secured Debt (8) —  —  238  3,430  88  —  3,518 
17.53% SF+ 10.00% 2.00% Secured Debt (8) —  —  260  3,430  88  —  3,518 
Warrants (8) —  —  —  2,091  —  —  2,091 
Johnson Downie Opco, LLC 15.00% Secured Debt (12) (8) —  (2) —  — 
15.00% Secured Debt (8) —  (12) 929  24,207  12  12  24,207 
Preferred Equity (8) —  170  217  9,620  170  —  9,790 
OnAsset Intelligence, Inc. 12.00% 12.00% Secured Debt (8) —  (42) —  326  —  43  283 
12.00% 12.00% Secured Debt (8) —  (43) —  332  —  43  289 
12.00% 12.00% Secured Debt (8) —  (93) —  716  —  94  622 
12.00% 12.00% Secured Debt (8) —  (195) —  1,493  —  195  1,298 
10.00% 10.00% Unsecured Debt (8) —  —  —  305  —  —  305 
7.00% 7.00% Preferred Stock (8) —  —  —  —  —  —  — 
Common Stock (8) —  —  —  —  —  —  — 
Warrants (8) —  —  —  —  —  —  — 
Oneliance, LLC 16.48% SF+ 11.00% Secured Debt (7) —  —  —  —  —  —  — 
16.48% SF+ 11.00% Secured Debt (7) —  61  227  5,350  64  80  5,334 
Preferred Stock (7) —  —  —  1,128  —  —  1,128 
Quality Lease Service, LLC Preferred Member Units (8) (3) —  —  —  —  —  — 
SI East, LLC 11.25% Secured Debt (12) (7) —  (1) 39  1,125  1,125 
12.45% Secured Debt (7) —  (14) 1,730  54,536  14  14  54,536 
Preferred Member Units (7) —  —  117  19,170  —  —  19,170 
Slick Innovations, LLC 14.00% Secured Debt (6) —  108  548  11,440  7,600  160  18,880 
Common Stock (6) —  (74) 234  2,310  —  530  1,780 
Student Resource Center, LLC 8.50% 8.50% Secured Debt (6) —  (1,457) —  3,190  —  1,457  1,733 
Preferred Equity (6) —  —  —  —  —  —  — 
Superior Rigging & Erecting Co. 12.00% Secured Debt (7) —  —  633  20,427  11  —  20,438 
Preferred Member Units (7) —  —  —  5,940  —  5,941 
The Affiliati Network, LLC 13.00% Secured Debt (9) —  —  150  641  800  (9)
13.00% Secured Debt (9) —  —  253  7,347  401  6,953 
Preferred Stock (9) —  —  26  6,400  —  —  6,400 
Preferred Stock (9) —  —  —  172  64  —  236 
UnionRock Energy Fund II, LP LP Interests (12) (9) —  —  —  5,694  —  —  5,694 
UnionRock Energy Fund III, LP LP Interests (12) (9) —  —  —  2,838  —  —  2,838 
UniTek Global Services, Inc. 15.00%     15.00% Secured Convertible Debt (6) —  —  64  3,889  65  —  3,954 
15.00% 15.00% Secured Convertible Debt (6) —  —  32  1,908  32  —  1,940 
20.00% 20.00% Preferred Stock (6) —  —  132  2,833  132  —  2,965 
20.00% 20.00% Preferred Stock (6) —  —  —  3,698  —  —  3,698 
19.00% 19.00% Preferred Stock (6) —  —  —  —  —  —  — 
13.50% 13.50% Preferred Stock (6) —  —  —  —  —  —  — 
Common Stock (6) —  —  —  —  —  —  — 
Universal Wellhead Services Holdings, LLC 14.00% 14.00% Preferred Member Units (8) —  (50) —  150  —  50  100 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1) (10) (11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2023 Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31,
2024 Fair Value (13)
Member Units (8) —  —  —  —  —  —  — 
Urgent DSO LLC 13.50% Secured Debt (5) —  —  326  —  8,713  —  8,713 
9.00% 9.00% Preferred Equity (5) —  —  45  —  4,045  —  4,045 
World Micro Holdings, LLC 12.00% Secured Debt (7) —  —  374  12,028  —  12,034 
  Preferred Equity (7) —  —  —  3,845  —  —  3,845 
Other —  —  —  —  —  —  — 
Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  (1,354) (9,070) —  —  — 
Total Affiliate investments $ (7,110) $ 5,925  $ 17,728  $ 615,002  $ 71,659  $ 29,782  $ 665,949 
____________________
(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
(2)Represents the total amount of interest, fees and dividends credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred from other 1940 Act classifications during the period.”
(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.
(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $526,552. This represented 20.9% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $87,195. This represented 3.5% of net assets as of March 31, 2024.
(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $278,708. This represented 11.1% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $118,933. This represented 4.7% of net assets as of March 31, 2024.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $51,001. This represented 2.0% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $175,963. This represented 7.0% of net assets as of March 31, 2024.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $792,668. This represented 31.5% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $146,767. This represented 5.8% of net assets as of March 31, 2024.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2024 for control investments located in this region was $402,283. This represented 16.0% of net assets as of March 31, 2024. The fair value as of March 31, 2024 for affiliate investments located in this region was $137,091. This represented 5.4% of net assets as of March 31, 2024.
(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.
(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.
(12)Investment has an unfunded commitment as of March 31, 2024 (see Note K). The fair value of the investment includes the impact of the fair value of any unfunded commitments.

(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
Majority-owned investments
ASK (Analytical Systems Keco Holdings, LLC) L+ 10.00% Secured Debt (8) $ —  $ —  $ $ (3) $ $ —  $ (2)
14.75% L+ 10.00% Secured Debt (8) —  —  188  4,545  20  70  4,495 
14.13% Preferred Member Units (8) —  —  —  —  —  —  — 
Preferred Member Units (8) —  84  —  3,504  84  —  3,588 
Warrants (8) —  —  —  —  —  —  — 
Brewer Crane Holdings, LLC 14.66% L+ 10.00% Secured Debt (9) —  —  212  5,964  —  124  5,840 
Preferred Member Units (9) —  (520) 30  7,080  —  520  6,560 
Café Brazil, LLC Member Units (8) —  (370) 16  2,210  —  370  1,840 
California Splendor Holdings LLC 14.88% L+ 10.00% Secured Debt (9) —  (3) 1,045  28,000  28,000 
Preferred Member Units (9) —  —  63  25,495  —  —  25,495 
15.00% 15.00% Preferred Member Units (9) —  —  150  3,994  150  —  4,144 
Clad-Rex Steel, LLC SF+ 9.00% Secured Debt (5) —  —  —  —  —  — 
13.79% SF+ 9.00% Secured Debt (5) —  —  369  10,440  11  480  9,971 
10.00% Secured Debt (5) —  —  26  1,039  —  1,031 
Member Units (5) —  (1,050) 50  8,220  —  1,050  7,170 
Member Units (5) —  220  —  610  220  —  830 
CMS Minerals Investments Member Units (9) —  (431) 44  1,670  —  435  1,235 
Cody Pools, Inc. 15.50% L+ 10.50% Secured Debt (8) —  11  59  1,462  13  421  1,054 
15.50% L+ 10.50% Secured Debt (8) —  (20) 1,577  40,801  20  444  40,377 
Preferred Member Units (8) —  970  29  58,180  970  —  59,150 
CompareNetworks Topco, LLC L+ 9.00% Secured Debt (9) —  —  —  —  —  —  — 
13.75% L+ 9.00% Secured Debt (9) —  (3) 180  5,241  375  4,869 
Preferred Member Units (9) —  (1,390) 158  19,830  —  1,390  18,440 
Datacom, LLC 7.50% Secured Debt (8) —  —  223  227  —  450 
10.00% Secured Debt (8) —  —  254  7,789  39  67  7,761 
Preferred Member Units (8) —  —  —  2,670  —  —  2,670 
Direct Marketing Solutions, Inc. Secured Debt (9) —  (7) 11  —  — 
14.00% Secured Debt (9) —  (14) 959  27,267  14  405  26,876 
Preferred Stock (9) —  (520) 171  22,220  —  520  21,700 
Elgin AcquireCo, LLC SF+ 6.00% Secured Debt (5) —  —  (9) —  (8)
12.00% Secured Debt (5) —  —  573  18,594  10  —  18,604 
9.00% Secured Debt (5) —  —  144  6,294  11  6,284 
Common Stock (5) —  —  —  7,603  —  —  7,603 
Common Stock (5) —  —  —  1,558  —  —  1,558 
Gamber-Johnson Holdings, LLC SF+ 8.50% Secured Debt (5) —  —  —  —  —  — 
11.50% SF+ 8.50% Secured Debt (5) —  (24) 1,852  64,078  24  824  63,278 
Member Units (5) —  8,480  1,567  50,890  8,480  —  59,370 
GRT Rubber Technologies LLC 10.66% L+ 6.00% Secured Debt (8) —  —  28  670  295  —  965 
12.66% L+ 8.00% Secured Debt (8) —  (12) 1,280  40,493  12  12  40,493 
Member Units (8) —  —  42  44,440  —  —  44,440 
Gulf Publishing Holdings, LLC L+ 9.50% Secured Debt (8) —  —  —  —  —  —  — 
12.50% Secured Debt (8) —  —  75  2,284  —  —  2,284 
Preferred Equity (8) —  —  —  3,780  —  —  3,780 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
Member Units (8) —  —  —  —  —  —  — 
Jensen Jewelers of Idaho, LLC P+ 6.75% Secured Debt (9) —  —  —  —  —  —  — 
14.50% P+ 6.75% Secured Debt (9) —  (2) 90  2,450  2,450 
Member Units (9) —  (120) 129  14,970  —  120  14,850 
Kickhaefer Manufacturing Company, LLC 12.00% Secured Debt (5) —  —  780  20,374  192  —  20,566 
9.00% Secured Debt (5) —  —  88  3,842  —  3,833 
Preferred Equity (5) —  —  —  7,220  —  —  7,220 
Member Units (5) —  (70) 29  2,850  —  70  2,780 
Market Force Information, LLC 15.75% L+ 11.00% Secured Debt (9) —  (6,725) 260  6,090  635  6,725  — 
12.00% 12.00% Secured Debt (9) —  (1,610) —  1,610  —  1,610  — 
Member Units (9) —  —  —  —  —  —  — 
MetalForming AcquireCo, LLC Secured Debt (7) —  —  —  —  —  — 
12.75% Secured Debt (7) —  —  739  23,576  12  —  23,588 
8.00% 8.00% Preferred Equity (7) —  —  148  6,010  117  —  6,127 
Common Stock (7) —  —  327  1,537  —  —  1,537 
MH Corbin Holding LLC 13.00% Secured Debt (5) —  952  196  4,548  952  116  5,384 
Preferred Member Units (5) —  —  —  —  —  —  — 
Preferred Member Units (5) —  —  —  —  —  —  — 
MSC Adviser I, LLC Member Units (8) —  9,720  3,057  122,930  9,720  —  132,650 
Mystic Logistics Holdings, LLC Secured Debt (6) —  —  —  —  —  — 
10.00% Secured Debt (6) —  —  144  5,746  —  —  5,746 
Common Stock (6) —  2,180  992  22,830  2,180  —  25,010 
OMi Topco, LLC 12.00% Secured Debt (8) —  (13) 485  15,750  13  763  15,000 
Preferred Member Units (8) —  2,290  675  22,810  2,290  —  25,100 
PPL RVs, Inc. L+ 7.00% Secured Debt (8) —  —  —  —  —  —  — 
11.38% L+ 7.00% Secured Debt (8) —  (13) 629  21,655  13  13  21,655 
Common Stock (8) —  —  104  18,950  —  —  18,950 
Common Stock (8) —  (68) —  238  —  68  170 
Principle Environmental, LLC Secured Debt (8) —  —  —  —  —  —  — 
13.00% Secured Debt (8) —  —  198  5,806  —  5,812 
Preferred Member Units (8) —  (1,940) 286  12,420  —  1,940  10,480 
Common Stock (8) —  (90) —  590  —  90  500 
Quality Lease Service, LLC Member Units (7) —  —  —  525  —  —  525 
Robbins Bros. Jewelry, Inc. Secured Debt (9) —  —  (35) —  (33)
12.50% Secured Debt (9) —  —  1,128  35,404  19  225  35,198 
Preferred Equity (9) —  (4,950) —  14,880  —  4,950  9,930 
Trantech Radiator Topco, LLC Secured Debt (7) —  (1) —  — 
12.00% Secured Debt (7) —  (5) 242  7,920  7,920 
Common Stock (7) —  1,510  29  7,800  1,506  —  9,306 
Volusion, LLC 10.00% Secured Debt (8) —  —  —  —  2,100  —  2,100 
Secured Debt (8) (3,188) 1,821  166  14,914  —  14,914  — 
Unsecured Convertible Debt (8) (409) 409  —  —  409  409  — 
Preferred Member Units (8) —  —  —  —  —  —  — 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
Preferred Member Units (8) —  —  —  —  11,446  —  11,446 
Preferred Member Units (8) —  —  —  —  —  —  — 
Common Stock (8) —  (2,576) —  —  2,576  2,576  — 
Warrants (8) —  2,576  —  —  —  —  — 
Ziegler’s NYPD, LLC 12.00% Secured Debt (8) —  —  14  450  —  —  450 
6.50% Secured Debt (8) —  —  16  945  —  —  945 
14.00% Secured Debt (8) —  (215) 96  2,676  —  215  2,461 
Preferred Member Units (8) —  (170) —  240  —  170  70 
Warrants (8) —  —  —  —  —  —  — 
Other controlled investments
2717 MH, L.P. LP Interests (2717 MH, L.P.) (8) 631  (675) 141  7,552  1,031  1,574  7,009 
LP Interests (2717 HPP-MS, L.P.) (8) —  —  —  248  —  —  248 
ASC Interests, LLC 13.00% Secured Debt (8) —  —  13  400  —  —  400 
13.00% Secured Debt (8) —  —  54  1,649  —  —  1,649 
Member Units (8) —  (100) —  800  —  100  700 
ATS Workholding, LLC 5.00% Secured Debt (9) —  (132) —  634  21  132  523 
5.00% Secured Debt (9) —  (186) —  1,005  —  185  820 
Preferred Member Units (9) —  —  —  —  —  —  — 
Barfly Ventures, LLC 7.00% Secured Debt (5) —  —  30  711  —  —  711 
Member Units (5) —  (280) —  3,320  —  283  3,037 
Batjer TopCo, LLC Secured Debt (8) —  —  —  (8) —  (7)
Secured Debt (8) —  —  —  —  —  —  — 
11.00% Secured Debt (8) —  —  311  10,933  450  10,492 
Preferred Stock (8) —  2,055  167  4,095  2,055  —  6,150 
Bolder Panther Group, LLC Secured Debt (9) —  —  —  —  —  — 
13.91% SF+ 9.22% Secured Debt (9) —  (36) 3,431  99,194  36  695  98,535 
8.00% Class B Preferred Member Units (9) —  —  1,096  31,420  —  —  31,420 
Bridge Capital Solutions Corporation 13.00% Secured Debt (6) —  —  286  8,813  —  —  8,813 
13.00% Secured Debt (6) —  —  32  1,000  —  —  1,000 
Preferred Member Units (6) —  —  25  1,000  —  —  1,000 
Warrants (6) —  —  —  1,828  —  —  1,828 
Warrants (6) —  —  —  2,512  —  —  2,512 
CBT Nuggets, LLC Member Units (9) —  860  1,235  49,002  858  —  49,860 
Centre Technologies Holdings, LLC L+ 9.00% Secured Debt (8) —  —  —  —  —  — 
13.75% L+ 9.00% Secured Debt (8) —  —  517  14,954  —  14,960 
Preferred Member Units (8) —  560  30  8,700  560  —  9,260 
Chamberlin Holding LLC SF+ 6.00% Secured Debt (8) —  —  —  —  —  — 
12.86% SF+ 8.00% Secured Debt (8) —  (6) 540  16,945  16,945 
Member Units (8) —  (120) 285  22,920  —  120  22,800 
Member Units (8) —  120  23  2,710  120  —  2,830 
Charps, LLC 10.00% Unsecured Debt (5) —  (9) 149  5,694  5,694 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
Preferred Member Units (5) —  210  196  13,340  210  —  13,550 
Colonial Electric Company LLC Secured Debt (6) —  —  —  —  —  — 
12.00% Secured Debt (6) —  —  704  23,151  14  315  22,850 
Preferred Member Units (6) —  (960) (1,273) 9,160  —  960  8,200 
Copper Trail Energy Fund I, LP - CTMH LP Interests (CTMH, LP) (9) —  —  —  588  —  —  588 
Digital Products Holdings LLC 14.75% L+ 10.00% Secured Debt (5) —  —  564  15,523  329  15,203 
Preferred Member Units (5) —  —  50  9,835  —  —  9,835 
Garreco, LLC 12.00% L+ 10.00% Secured Debt (8) —  —  112  3,826  —  277  3,549 
Member Units (8) —  (220) 12  1,800  —  220  1,580 
Gulf Manufacturing, LLC Member Units (8) —  580  718  6,790  580  —  7,370 
Harrison Hydra-Gen, Ltd. Common Stock (8) —  210  —  3,280  210  —  3,490 
Johnson Downie Opco, LLC L+ 11.50% Secured Debt (8) —  (1) —  — 
16.25% L+ 11.50% Secured Debt (8) —  (5) 407  9,999  9,999 
Preferred Equity (8) —  1,010  71  5,540  1,010  —  6,550 
JorVet Holdings, LLC 12.00% Secured Debt (9) —  —  782  25,432  13  —  25,445 
Preferred Equity (9) —  —  221  10,741  —  —  10,741 
KBK Industries, LLC 10.00% Secured Debt (5) —  56  184  —  6,000  250  5,750 
Member Units (5) —  (3,590) 6,134  15,570  —  3,590  11,980 
MS Private Loan Fund Secured Debt (8) —  —  —  —  —  — 
Secured Debt (8) —  —  —  —  —  —  — 
LP Interests (8) —  (58) 370  14,833  —  58  14,775 
MSC Income Fund, Inc. Common Equity (8) —  15  753  —  760 
NAPCO Precast, LLC Member Units (8) —  670  —  11,830  670  —  12,500 
Nebraska Vet AcquireCo, LLC (NVS) L+ 7.00% Secured Debt (5) —  —  —  —  —  — 
12.00% Secured Debt (5) —  (10) 613  20,094  10  10  20,094 
12.00% Secured Debt (5) —  (5) 320  10,500  10,500 
Preferred Member Units (5) —  3,520  125  7,700  3,520  —  11,220 
NexRev LLC Secured Debt (8) —  —  —  —  —  —  — 
11.00% Secured Debt (8) —  1,000  320  8,477  1,022  629  8,870 
Preferred Member Units (8) —  1,880  131  1,110  1,880  —  2,990 
NRP Jones, LLC 12.00% Secured Debt (5) —  —  62  2,080  —  —  2,080 
Member Units (5) —  279  13  4,615  278  —  4,893 
Member Units (5) —  11  (2) 175  12  —  187 
NuStep, LLC 11.25% L+ 6.50% Secured Debt (5) —  —  122  4,399  —  —  4,399 
12.00% Secured Debt (5) —  —  556  18,414  —  18,417 
Preferred Member Units (5) —  (410) —  8,040  —  410  7,630 
Preferred Member Units (5) —  —  —  5,150  —  —  5,150 
Orttech Holdings, LLC L+ 11.00% Secured Debt (5) —  —  —  —  —  —  — 
15.75% L+ 11.00% Secured Debt (5) —  —  924  23,429  17  800  22,646 
Preferred Stock (5) —  1,750  269  11,750  1,750  —  13,500 
Pearl Meyer Topco LLC 12.00% Secured Debt (6) —  29  —  3,500  —  3,500 
12.00% Secured Debt (6) —  38  142  —  11,500  —  11,500 
12.00% Secured Debt (6) —  (20) 868  28,681  20  1,020  27,681 
Preferred Equity (6) —  280  2,879  43,260  280  —  43,540 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
River Aggregates, LLC Member Units (8) —  —  —  3,620  —  —  3,620 
Tedder Industries, LLC 12.00% Secured Debt (9) —  —  55  1,840  —  —  1,840 
12.00% Secured Debt (9) —  —  459  15,120  —  15,123 
Preferred Member Units (9) —  (810) —  7,681  —  810  6,871 
Preferred Member Units (9) —  111  —  —  333  —  333 
Televerde, LLC Member Units (8) —  1,191  171  5,408  1,191  —  6,599 
Preferred Stock (8) —  —  —  1,794  —  —  1,794 
Vision Interests, Inc. Series A Preferred Stock (9) —  —  168  3,000  —  —  3,000 
VVS Holdco LLC L+ 6.00% Secured Debt (5) —  —  (21) —  (15)
11.50% Secured Debt (5) —  —  889  30,161  15  —  30,176 
Preferred Equity (5) —  100  38  11,940  100  —  12,040 
—  —  —  —  —  —  — 
—  —  —  —  —  —  — 
Other —  —  —  —  —  —  — 
Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  (171) (14,914) —  —  — 
Total Control investments $ (2,966) $ 17,161  $ 48,862  $ 1,703,172  $ 83,687  $ 55,770  $ 1,746,003 
Affiliate Investments
AAC Holdings, Inc. 18.00% Secured Debt (7) $ —  $ (6) $ —  $ —  $ 315  $ $ 309 
18.00% 18.00% Secured Debt (7) —  (268) 572  11,550  572  267  11,855 
Common Stock (7) —  —  —  —  —  —  — 
Warrants (7) —  —  —  —  —  —  — 
AFG Capital Group, LLC Preferred Member Units (8) —  —  —  9,400  —  —  9,400 
ATX Networks Corp. L+ 7.50% Secured Debt (6) —  (134) 886  6,343  575  6,918  — 
10.00% Unsecured Debt (6) —  (306) 1,160  2,598  1,160  3,758  — 
Common Stock (6) 3,248  (3,270) —  3,270  3,248  6,518  — 
BBB Tank Services, LLC 15.66% L+ 11.00% Unsecured Debt (8) —  —  31  800  —  —  800 
15.66% L+ 11.00% Unsecured Debt (8) —  —  155  2,086  —  —  2,086 
Member Units (8) —  —  —  —  —  —  — 
15.00% Preferred Stock (non-voting) (8) —  —  —  —  —  —  — 
Boccella Precast Products LLC 10.00% Secured Debt (6) —  —  320  —  —  320 
Member Units (6) —  (200) 29  2,970  —  200  2,770 
Buca C, LLC 12.00% Secured Debt (7) —  —  521  12,337  —  375  11,962 
6.00% 6.00% Preferred Member Units (7) —  —  —  —  —  —  — 
Career Team Holdings, LLC L+ 6.00% Secured Debt (6) —  —  (9) (9)
12.50% Secured Debt (6) —  —  643  20,090  10  —  20,100 
Common Stock (6) —  —  —  4,500  —  —  4,500 
Chandler Signs Holdings, LLC Class A Units (8) —  210  36  1,790  210  —  2,000 
Classic H&G Holdings, LLC 10.88% L+ 6.00% Secured Debt (6) —  —  127  4,560  —  —  4,560 
8.00% Secured Debt (6) —  (11) 396  19,274  11  11  19,274 
Preferred Member Units (6) —  1,062  780  24,637  1,063  —  25,700 
Congruent Credit Opportunities Funds LP Interests (Congruent Credit Opportunities Fund III, LP) (8) —  —  123  7,657  —  876  6,781 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
DMA Industries, LLC 12.00% Secured Debt (7) —  (11) 647  21,200  11  11  21,200 
Preferred Equity (7) —  —  —  7,260  —  —  7,260 
Dos Rios Partners LP Interests (Dos Rios Partners, LP) (8) —  156  —  9,127  156  —  9,283 
LP Interests (Dos Rios Partners - A, LP) (8) —  —  —  2,898  —  —  2,898 
Dos Rios Stone Products LLC Class A Preferred Units (8) —  250  —  1,330  250  —  1,580 
EIG Fund Investments LP Interests (EIG Global Private Debt Fund-A, L.P.) (8) 14  —  19  1,013  15  52  976 
Flame King Holdings, LLC 11.25% L+ 6.50% Secured Debt (9) —  (4) 215  7,600  7,600 
13.75% L+ 9.00% Secured Debt (9) —  (11) 730  21,200  11  11  21,200 
Preferred Equity (9) —  3,610  538  17,580  3,610  —  21,190 
Freeport Financial SBIC Fund LP LP Interests (Freeport Financial SBIC Fund LP) (5) —  —  —  3,483  —  —  3,483 
LP Interests (Freeport First Lien Loan Fund III LP) (5) —  —  134  5,848  —  536  5,312 
GFG Group, LLC. 9.00% Secured Debt (5) —  (6) 261  11,345  11,345 
Preferred Member Units (5) —  450  39  7,140  450  —  7,590 
Hawk Ridge Systems, LLC 10.75% L+ 6.00% Secured Debt (9) —  —  90  3,185  815  —  4,000 
10.00% Secured Debt (9) —  (10) 893  37,800  10  10  37,800 
Preferred Member Units (9) —  —  65  17,460  —  —  17,460 
Preferred Member Units (9) —  —  —  920  —  —  920 
Houston Plating and Coatings, LLC 8.00% Unsecured Convertible Debt (8) —  (170) 60  3,000  —  170  2,830 
Member Units (8) —  600  2,400  600  —  3,000 
HPEP 3, L.P. LP Interests (HPEP 3, L.P.) (8) —  113  —  4,331  113  508  3,936 
LP Interests (HPEP 4, L.P.) (8) —  —  —  2,332  —  —  2,332 
LP Interests (423 COR, LP) (8) —  —  117  1,400  —  —  1,400 
I-45 SLF LLC
Member Units (Fully diluted 20.0%; 21.75% profits interest)
(8) —  —  528  11,758  1,200  —  12,958 
Infinity X1 Holdings, LLC 13.00% Secured Debt (9) —  —  183  —  17,823  —  17,823 
Preferred Equity (9) —  —  —  —  4,000  —  4,000 
Iron-Main Investments, LLC 13.50% Secured Debt (5) —  —  151  4,500  —  4,502 
13.50% Secured Debt (5) —  —  105  3,130  —  3,132 
13.50% Secured Debt (5) —  —  294  8,944  —  —  8,944 
13.50% Secured Debt (5) —  —  658  19,559  —  19,568 
13.50% Secured Debt (5) —  —  489  —  10,836  —  10,836 
Common Stock (5) —  —  —  1,798  958  —  2,756 
OnAsset Intelligence, Inc. 12.00% 12.00% Secured Debt (8) —  (6) —  569  —  563 
12.00% 12.00% Secured Debt (8) —  (6) —  580  —  574 
12.00% 12.00% Secured Debt (8) —  (14) —  1,249  —  13  1,236 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
12.00% 12.00% Secured Debt (8) —  (28) —  2,606  —  29  2,577 
10.00% 10.00% Unsecured Debt (8) —  —  —  305  —  —  305 
7.00% 7.00% Preferred Stock (8) —  —  —  —  —  —  — 
Common Stock (8) —  —  —  —  —  —  — 
Warrants (8) —  —  —  —  —  —  — 
Oneliance, LLC L+ 11.00% Secured Debt (7) —  —  —  —  —  —  — 
15.75% L+ 11.00% Secured Debt (7) —  —  219  5,559  80  5,482 
Preferred Stock (7) —  —  —  1,056  —  —  1,056 
Rocaceia, LLC (Quality Lease and Rental Holdings, LLC) Secured Debt (8) (29,526) 29,865  —  —  29,865  29,865  — 
Preferred Member Units (8) —  —  —  —  —  —  — 
SI East, LLC (Stavig) Secured Debt (7) —  —  —  —  —  — 
9.50% Secured Debt (7) —  (33) 2,144  89,786  33  5,283  84,536 
Preferred Member Units (7) —  —  343  13,650  —  —  13,650 
Slick Innovations, LLC 14.00% Secured Debt (6) —  (9) 492  13,840  249  13,600 
Common Stock (6) —  260  —  1,530  260  —  1,790 
Sonic Systems International, LLC 12.26% L+ 7.50% Secured Debt (8) —  (17) 499  15,769  17  17  15,769 
Common Stock (8) —  (50) 11  1,280  —  50  1,230 
Student Resource Center, LLC 13.69% L+ 8.50% Secured Debt (6) —  —  108  4,556  —  —  4,556 
Preferred Equity (6) —  —  —  —  —  —  — 
Superior Rigging & Erecting Co. 12.00% Secured Debt (7) —  —  652  21,378  17  1,000  20,395 
Preferred Member Units (7) —  470  —  4,500  470  —  4,970 
The Affiliati Network, LLC Secured Debt (9) —  —  106  1,321  1,440  (13)
12.00% Secured Debt (9) —  —  293  9,442  200  9,249 
Preferred Stock (9) —  —  80  6,400  —  —  6,400 
UnionRock Energy Fund II, LP LP Interests (9) —  —  —  5,855  530  197  6,188 
UniTek Global Services, Inc. 14.22% SF+ 7.50% 2.00% Secured Debt (6) —  23  12  382  25  —  407 
14.22% SF+ 7.50% 2.00% Secured Debt (6) —  102  62  1,712  112  1,821 
15.00% 15.00% Secured Convertible Debt (6) —  262  91  4,592  353  —  4,945 
20.00% 20.00% Preferred Stock (6) —  (107) 107  2,833  107  107  2,833 
20.00% 20.00% Preferred Stock (6) —  385  —  1,991  385  —  2,376 
19.00% 19.00% Preferred Stock (6) —  —  —  —  —  —  — 
13.50% 13.50% Preferred Stock (6) —  —  —  —  —  —  — 
Common Stock (6) —  —  —  —  —  —  — 
Universal Wellhead Services Holdings, LLC 14.00% 14.00% Preferred Member Units (8) —  —  —  220  —  218 
Member Units (8) —  —  —  —  —  —  — 
World Micro Holdings, LLC 13.00% Secured Debt (7) —  —  471  14,140  —  14,147 
Preferred Equity (7) —  —  —  3,845  —  —  3,845 
Other —  —  —  —  —  —  — 
Company Total Rate Base Rate Spread PIK Rate Type of Investment (1)(10)(11) Geography Amount of
Realized
Gain/(Loss)
Amount of
Unrealized
Gain/(Loss)
Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)
December 31,
2022
Fair Value (13)
Gross
Additions (3)
Gross
Reductions (4)
March 31, 2023
Fair Value (13)
Amounts related to investments transferred to or from other 1940 Act classification during the period —  —  171  14,914  —  —  — 
Total Affiliate investments $ (26,264) $ 33,141  $ 17,456  $ 618,359  $ 81,567  $ 58,785  $ 626,227 
________________
(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
(2)Represents the total amount of interest, fees and dividends credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred from other 1940 Act classifications during the period.”
(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.
(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $444,151. This represented 20.4% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $77,468. This represented 3.6% of net assets as of March 31, 2023.
(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $163,180. This represented 7.5% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $109,543. This represented 5.0% of net assets as of March 31, 2023.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $49,003. This represented 2.3% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $200,667. This represented 9.2% of net assets as of March 31, 2023.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $639,016. This represented 29.5% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $84,732. This represented 3.9% of net assets as of March 31, 2023.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2023 for control investments located in this region was $450,653. This represented 20.7% of net assets as of March 31, 2023. The fair value as of March 31, 2023 for affiliate investments located in this region was $153,817. This represented 7.1% of net assets as of March 31, 2023.
(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.
(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.
(12)Investment has an unfunded commitment as of March 31, 2023 (see Note K). The fair value of the investment includes the impact of the fair value of any unfunded commitments.
(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.