| Schedule of Transactions with Affiliated Companies |
Transactions related to the Company’s investments with affiliates for the years ended December 31, 2025 and 2024 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Portfolio Company | | Fair value at
December 31,
2024 | | Transfers in (out) (1) | | Purchases
(cost) | | Sales and
paydowns
(cost) | | PIK
interest
capitalized
(cost) | | Discount
accretion | | Net
realized
gain (loss) | | Net
change in unrealized
gain (loss) | | Fair value at
December 31, 2025 | | Non-controlled affiliate company investment: | | | | | | | | | | | | | | | | | | | | Baystate Sewage Disposal, LLC | | $ | — | | | $ | — | | | $ | 4,312 | | | $ | (10) | | | $ | — | | | $ | 4 | | | $ | — | | | $ | 83 | | | $ | 4,389 | | | Baystate Sewage Disposal, LLC (Delayed Draw) | | — | | | — | | | 126 | | | — | | | — | | | — | | | — | | | — | | | 126 | | | Baystate Sewage Disposal, LLC (Revolver) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Baystate Sewage Disposal, LLC (8,841,724 Class A-1 preferred units) | | — | | | — | | | 8,842 | | | — | | | — | | | — | | | — | | | 84 | | | 8,926 | | | | — | | | — | | | 13,280 | | | (10) | | | — | | | 4 | | | — | | | 167 | | | 13,441 | | | | | | | | | | | | | | | | | | | | | | BTR Opco LLC | | 1,177 | | | — | | | — | | | — | | | — | | | — | | | — | | | (782) | | | 395 | | | BTR Opco LLC | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | BTR Opco LLC (Delayed Draw) | | 1,131 | | | — | | | 190 | | | (1) | | | — | | | — | | | — | | | 158 | | | 1,478 | | BTR Opco LLC (622 Class A common units) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | 2,308 | | | — | | | 190 | | | (1) | | | — | | | — | | | — | | | (624) | | | 1,873 | | | | | | | | | | | | | | | | | | | | | | ClearlyRated Capital, LLC | | — | | | — | | | 1,407 | | | (8) | | | — | | | 3 | | | — | | | 25 | | | 1,427 | | | ClearlyRated Capital, LLC (Delayed Draw) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | ClearlyRated Capital, LLC (7,093,224 Class A units) | | 5,500 | | | — | | | 1,593 | | | — | | | — | | | — | | | — | | | 533 | | | 7,626 | | | | 5,500 | | | — | | | 3,000 | | | (8) | | | — | | | 3 | | | — | | | 558 | | | 9,053 | | | | | | | | | | | | | | | | | | | | | | Engineered Metal Solutions, Inc. | | — | | | — | | | 6,713 | | | — | | | — | | | 6 | | | — | | | 131 | | | 6,850 | | | Engineered Metal Solutions, Inc. (Revolver) | | — | | | — | | | 248 | | | (248) | | | — | | | — | | | — | | | — | | | — | | Engineered Metal Solutions, Inc. (7,413 Class A units) | | — | | | — | | | 7,414 | | | — | | | (1) | | | 1 | | | — | | | 219 | | | 7,633 | | | | — | | | — | | | 14,375 | | | (248) | | | (1) | | | 7 | | | — | | | 350 | | | 14,483 | | | | | | | | | | | | | | | | | | | | | | Jumpstart Holdco, Inc. (Delayed Draw) | | — | | | — | | | 2,574 | | | — | | | — | | | — | | | — | | | 1,857 | | | 4,431 | | | Jumpstart Holdco, Inc. (Revolver) | | — | | | 729 | | | — | | | — | | | — | | | — | | | — | | | 19 | | | 748 | | Jumpstart Holdco, Inc. (188,000 Class A common units) | | — | | | 23,636 | | | — | | | — | | | — | | | — | | | — | | | (23,636) | | | — | | Jumpstart Holdco, Inc. (1,566,667 Class A units) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | — | | | 24,365 | | | 2,574 | | | — | | | — | | | — | | | — | | | (21,760) | | | 5,179 | | | | | | | | | | | | | | | | | | | | | MC Aviation Limited (commitment to purchase up to 40.0% of the equity) | | — | | | — | | | 22,809 | | | — | | | — | | | — | | | — | | | 794 | | | 23,603 | | | | — | | | — | | | 22,809 | | | — | | | — | | | — | | | — | | | 794 | | | 23,603 | | | | | | | | | | | | | | | | | | | | | MC Voyager SPV II LLC ($20,522 of $45,000 equity commitment) | | — | | | — | | | 20,522 | | | — | | | — | | | — | | | — | | | — | | | 20,522 | | | | — | | | — | | | 20,522 | | | — | | | — | | | — | | | — | | | — | | | 20,522 | | | | | | | | | | | | | | | | | | | | | | Nastel Technologies, LLC | | 3,478 | | | — | | | — | | | — | | | — | | | 12 | | | — | | | 6 | | | 3,496 | | | Nastel Technologies, LLC (Revolver) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Nastel Technologies, LLC (3,408 Class A units) | | 4,611 | | | — | | | — | | | — | | | — | | | — | | | — | | | 893 | | | 5,504 | | | | 8,089 | | | — | | | — | | | — | | | — | | | 12 | | | — | | | 899 | | | 9,000 | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Portfolio Company | | Fair value at
December 31,
2024 | | Transfers in (out) (1) | | Purchases
(cost) | | Sales and
paydowns
(cost) | | PIK
interest
capitalized
(cost) | | Discount
accretion | | Net
realized
gain (loss) | | Net
change in unrealized
gain (loss) | | Fair value at
December 31, 2025 | NFS Intermediate HoldCo, LLC (53,255 Series B preferred units) | | $ | — | | | $ | — | | | $ | 53,255 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 7,395 | | | $ | 60,650 | | | | — | | | — | | | 53,255 | | | — | | | — | | | — | | | — | | | 7,395 | | | 60,650 | | | | | | | | | | | | | | | | | | | | | | SFR Holdco, LLC | | 5,593 | | | — | | | — | | | — | | | — | | | — | | | — | | | 282 | | | 5,875 | | | SFR Holdco, LLC | | 4,631 | | | — | | | — | | | — | | | — | | | — | | | — | | | 208 | | | 4,839 | | SFR Holdco, LLC (13.9% of equity commitments) | | 4,797 | | | — | | | — | | | — | | | — | | | — | | | — | | | 157 | | | 4,954 | | SFR Holdco, LLC (10.5% of equity commitments) | | 3,597 | | | — | | | — | | | — | | | — | | | — | | | — | | | 118 | | | 3,715 | | | | 18,618 | | | — | | | — | | | — | | | — | | | — | | | — | | | 765 | | | 19,383 | | | | | | | | | | | | | | | | | | | | | | SFR Holdco 2, LLC | | 2,267 | | | — | | | 2,852 | | | — | | | — | | | — | | | — | | | (182) | | | 4,937 | | SFR Holdco 2, LLC (24.4% of equity commitments) | | 1,510 | | | — | | | 1,902 | | | — | | | — | | | — | | | — | | | 52 | | | 3,464 | | | | 3,777 | | | — | | | 4,754 | | | — | | | — | | | — | | | — | | | (130) | | | 8,401 | | | | | | | | | | | | | | | | | | | | | | SheerTrans Solutions, LLC | | 5,261 | | | — | | | — | | | (51) | | | 477 | | | 21 | | | — | | | (21) | | | 5,687 | | | SheerTrans Solutions, LLC | | 1,503 | | | — | | | — | | | (16) | | | 136 | | | 5 | | | — | | | (4) | | | 1,624 | | | SheerTrans Solutions, LLC (Revolver) | | 998 | | | — | | | 952 | | | (1,244) | | | 57 | | | — | | | — | | | — | | | 763 | | SheerTrans Solutions, LLC (3,042,264 Class A preferred interests) | | — | | | 3,042 | | | — | | | — | | | — | | | — | | | — | | | 1,705 | | | 4,747 | | SheerTrans Solutions, LLC (4,692,038 Class B preferred interests) | | — | | | 1,879 | | | 2,813 | | | — | | | — | | | — | | | — | | | 2,628 | | | 7,320 | | SheerTrans Solutions, LLC (9,191,624 preferred interests) | | 11,989 | | | (4,921) | | | 1,879 | | | — | | | — | | | — | | | — | | | (8,947) | | | — | | | | 19,751 | | | — | | | 5,644 | | | (1,311) | | | 670 | | | 26 | | | — | | | (4,639) | | | 20,141 | | | | | | | | | | | | | | | | | | | | | | Summit Professional Education, LLC | | 10,244 | | | — | | | — | | | (102) | | | — | | | 35 | | | — | | | (183) | | | 9,994 | | | Summit Professional Education, LLC | | — | | | — | | | 3,939 | | | — | | | — | | | 7 | | | — | | | 14 | | | 3,960 | | | Summit Professional Education, LLC (Delayed Draw) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | Summit Professional Education, LLC (Revolver) | | 1,145 | | | — | | | 735 | | | (1,880) | | | — | | | — | | | — | | | — | | | — | | Summit Professional Education, LLC (19,762 Class A units) | | 16,676 | | | — | | | 3,085 | | | — | | | — | | | — | | | — | | | (1,623) | | | 18,138 | | | | 28,065 | | | — | | | 7,759 | | | (1,982) | | | — | | | 42 | | | — | | | (1,792) | | | 32,092 | | | | | | | | | | | | | | | | | | | | | Triad Financial Services, Inc. ($6,902 of $41,855 equity commitment) | | 4,803 | | | — | | | 2,099 | | | — | | | — | | | — | | | — | | | — | | | 6,902 | | | | 4,803 | | | — | | | 2,099 | | | — | | | — | | | — | | | — | | | — | | | 6,902 | | | | | | | | | | | | | | | | | | | | | | Whistler Parent Holdings III, Inc. | | 22,772 | | | — | | | — | | | — | | | 2,202 | | | 71 | | | — | | | (9,473) | | | 15,572 | | | Whistler Parent Holdings III, Inc. | | 1,980 | | | — | | | 990 | | | — | | | 227 | | | — | | | — | | | — | | | 3,197 | | | Whistler Parent Holdings III, Inc. (Revolver) | | 1,539 | | | — | | | 1,752 | | | — | | | 196 | | | — | | | — | | | — | | | 3,487 | | Whistler Parent Holdings III, Inc. (518,970 Series A preferred stock) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Whistler Parent Holdings III, Inc. (116,083 Series B preferred stock) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | 26,291 | | | — | | | 2,742 | | | — | | | 2,625 | | | 71 | | | — | | | (9,473) | | | 22,256 | | | | | | | | | | | | | | | | | | | | | | YBR OZ ECE, LLC | | — | | | — | | | 1,961 | | | (10) | | | — | | | 6 | | | — | | | 37 | | | 1,994 | | | YBR OZ ECE, LLC (Delayed Draw) | | — | | | — | | | 900 | | | (1) | | | — | | | — | | | — | | | 2 | | | 901 | | | YBR OZ ECE, LLC (Revolver) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | YBR OZ ECE, LLC (6,875 Class A units) | | — | | | — | | | 6,875 | | | — | | | — | | | — | | | — | | | — | | | 6,875 | | | | — | | | — | | | 9,736 | | | (11) | | | — | | | 6 | | | — | | | 39 | | | 9,770 | | | | | | | | | | | | | | | | | | | | | | Zodega Landscaping, LLC | | $ | 12,431 | | | $ | — | | | $ | — | | | $ | (121) | | | $ | — | | | $ | 94 | | | $ | — | | | $ | (123) | | | $ | 12,281 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Portfolio Company | | Fair value at
December 31,
2024 | | Transfers in (out) (1) | | Purchases
(cost) | | Sales and
paydowns
(cost) | | PIK
interest
capitalized
(cost) | | Discount
accretion | | Net
realized
gain (loss) | | Net
change in unrealized
gain (loss) | | Fair value at
December 31, 2025 | | Zodega Landscaping, LLC (Revolver) | | 992 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | 992 | | Zodega Landscaping, LLC (146,757 preferred interests) | | 15,130 | | | — | | | — | | | — | | | — | | | — | | | — | | | 3,018 | | | 18,148 | | | | 28,553 | | | — | | | — | | | (121) | | | — | | | 94 | | | — | | | 2,895 | | | 31,421 | | | Total non-controlled affiliate company investments | | $ | 145,755 | | | $ | 24,365 | | | $ | 162,739 | | | $ | (3,692) | | | $ | 3,294 | | | $ | 265 | | | $ | — | | | $ | (24,556) | | | $ | 308,170 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Portfolio Company | | Fair value at
December 31,
2023 | | Transfers in (out) (1) | | Purchases
(cost) | | Sales and
paydowns
(cost) | | PIK
interest
capitalized
(cost) | | Discount
accretion | | Net
realized
gain (loss) | | Net
change in unrealized
gain (loss) | | Fair value at
December 31, 2024 | | | | | | | | | | Non-controlled affiliate company investment: | | | | | | | | | | | | | | | | | | | | | | | | | | | BTR Opco LLC (fka Born To Run, LLC) | | $ | — | | | $ | 1,611 | | | $ | 81 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | (515) | | | $ | 1,177 | | | | | | | | | | BTR Opco LLC (fka Born To Run, LLC) | | — | | | 8,300 | | | 418 | | | (2) | | | — | | | — | | | — | | | (8,716) | | | — | | | | | | | | | | | BTR Opco LLC (fka Born To Run, LLC) (Delayed Draw) | | — | | | — | | | 1,080 | | | (34) | | | — | | | — | | | — | | | 85 | | | 1,131 | | | | | | | | | | BTR Opco LLC (fka Born To Run, LLC) (659 Class A common units) | | — | | | 677 | | | — | | | — | | | — | | | — | | | (38) | | | (639) | | | — | | | | | | | | | | | | — | | | 10,588 | | | 1,579 | | | (36) | | | — | | | — | | | (38) | | | (9,785) | | | 2,308 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ClearlyRated Capital, LLC (5,500,000 Class A units) | | 5,500 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | 5,500 | | | | | | | | | | | | 5,500 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | 5,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nastel Technologies, LLC | | 3,500 | | | — | | | — | | | — | | | — | | | 10 | | | — | | | (32) | | | 3,478 | | | | | | | | | | | Nastel Technologies, LLC (Revolver) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | Nastel Technologies, LLC (3,408 Class A units) | | 4,226 | | | — | | | — | | | — | | | — | | | — | | | — | | | 385 | | | 4,611 | | | | | | | | | | | | 7,726 | | | — | | | — | | | — | | | — | | | 10 | | | — | | | 353 | | | 8,089 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Second Avenue SFR Holdings II LLC (Revolver) (2) | | 3,323 | | | — | | | — | | | (3,323) | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | 3,323 | | | — | | | — | | | (3,323) | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SFR Holdco, LLC | | 6,557 | | | — | | | — | | | — | | | — | | | — | | | — | | | (964) | | | 5,593 | | | | | | | | | | | SFR Holdco, LLC | | 4,917 | | | — | | | — | | | — | | | — | | | — | | | — | | | (286) | | | 4,631 | | | | | | | | | | SFR Holdco, LLC (13.9% of equity commitments) | | 4,371 | | | — | | | — | | | — | | | — | | | — | | | — | | | 426 | | | 4,797 | | | | | | | | | | SFR Holdco, LLC (10.5% of equity commitments) | | 3,278 | | | — | | | — | | | — | | | — | | | — | | | — | | | 319 | | | 3,597 | | | | | | | | | | | | 19,123 | | | — | | | — | | | — | | | — | | | — | | | — | | | (505) | | | 18,618 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SFR Holdco 2, LLC (Delayed Draw) | | — | | | — | | | 2,267 | | | — | | | — | | | — | | | — | | | — | | | 2,267 | | | | | | | | | | SFR Holdco 2, LLC (24.4% of equity commitments) | | — | | | — | | | 1,510 | | | — | | | — | | | — | | | — | | | — | | | 1,510 | | | | | | | | | | | | — | | | — | | | 3,777 | | | — | | | — | | | — | | | — | | | — | | | 3,777 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SheerTrans Solutions, LLC | | 5,101 | | | — | | | — | | | (51) | | | 212 | | | 19 | | | — | | | (20) | | | 5,261 | | | | | | | | | | | SheerTrans Solutions, LLC | | — | | | — | | | 1,436 | | | (15) | | | 53 | | | 4 | | | — | | | 25 | | | 1,503 | | | | | | | | | | | SheerTrans Solutions, LLC (Revolver) | | 959 | | | — | | | — | | | — | | | 39 | | | — | | | — | | | — | | | 998 | | | | | | | | | | SheerTrans Solutions, LLC (12,233,889 preferred interests) | | 9,192 | | | — | | | 3,042 | | | — | | | — | | | — | | | — | | | (245) | | | 11,989 | | | | | | | | | | | | 15,252 | | | — | | | 4,478 | | | (66) | | | 304 | | | 23 | | | — | | | (240) | | | 19,751 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Summit Professional Education, LLC | | — | | | — | | | 10,094 | | | (50) | | | — | | | 17 | | | — | | | 183 | | | 10,244 | | | | | | | | | | | Summit Professional Education, LLC (Revolver) | | — | | | — | | | 1,145 | | | — | | | — | | | — | | | — | | | — | | | 1,145 | | | | | | | | | | Summit Professional Education, LLC (16,676 Class A units) | | — | | | — | | | 16,676 | | | — | | | — | | | — | | | — | | | — | | | 16,676 | | | | | | | | | | | | — | | | — | | | 27,915 | | | (50) | | | — | | | 17 | | | — | | | 183 | | | 28,065 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Portfolio Company | | Fair value at
December 31,
2023 | | Transfers in (out) (1) | | Purchases
(cost) | | Sales and
paydowns
(cost) | | PIK
interest
capitalized
(cost) | | Discount
accretion | | Net
realized
gain (loss) | | Net
change in unrealized
gain (loss) | | Fair value at
December 31, 2024 | | | | | | | | | Triad Financial Services, Inc. ($4,803 of $41,855 equity commitment) | | $ | — | | | $ | — | | | $ | 4,803 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,803 | | | | | | | | | | | | — | | | — | | | 4,803 | | | — | | | — | | | — | | | — | | | — | | | 4,803 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Whistler Parent Holdings III, Inc. | | — | | | 25,676 | | | — | | | — | | | 276 | | | 133 | | | — | | | (3,313) | | | 22,772 | | | | | | | | | | | Whistler Parent Holdings III, Inc. (Delayed Draw) | | — | | | 1,614 | | | 311 | | | — | | | 55 | | | — | | | — | | | — | | | 1,980 | | | | | | | | | | | Whistler Parent Holdings III, Inc. (Revolver) | | — | | | — | | | 1,523 | | | — | | | 16 | | | — | | | — | | | — | | | 1,539 | | | | | | | | | | Whistler Parent Holdings III, Inc. (518,970 Series A preferred stock) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | Whistler Parent Holdings III, Inc. (116,083 Series B preferred stock) | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | — | | | 27,290 | | | 1,834 | | | — | | | 347 | | | 133 | | | — | | | (3,313) | | | 26,291 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Zodega Landscaping, LLC | | 11,969 | | | — | | | — | | | (119) | | | — | | | 80 | | | — | | | 501 | | | 12,431 | | | | | | | | | | | Zodega Landscaping, LLC (Revolver) | | — | | | — | | | 992 | | | — | | | — | | | — | | | — | | | — | | | 992 | | | | | | | | | | Zodega Landscaping, LLC (146,757 preferred interests) | | 12,421 | | | — | | | 2,255 | | | — | | | — | | | — | | | — | | | 454 | | | 15,130 | | | | | | | | | | | | 24,390 | | | — | | | 3,247 | | | (119) | | | — | | | 80 | | | — | | | 955 | | | 28,553 | | | | | | | | | | | Total non-controlled affiliate company investments | | $ | 75,314 | | | $ | 37,878 | | | $ | 47,633 | | | $ | (3,594) | | | $ | 651 | | | $ | 263 | | | $ | (38) | | | $ | (12,352) | | | $ | 145,755 | | | | | | | | | |
________________________________________(1)Transfers in (out) may include increases (decreases) in the cost basis of investments resulting from the exchange of one or more existing investments for one or more new investments and the movement of an existing portfolio company into this affiliated category from a different category as a result of a restructuring. (2)Second Avenue SFR Holdings II LLC is a related entity to SFR Holdco, LLC and SFR Holdco 2, LLC and is presented as a non-controlled affiliate for that reason. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended December 31, | | | 2025 | | 2024 | | Portfolio Company | | Interest
Income | | Dividend Income | | Other Income | | Interest
Income | | Dividend Income | | Other Income | | Non-controlled affiliate company investments: | | | | | | | | | | | | | | Baystate Sewage Disposal, LLC | | $ | 234 | | | $ | — | | | $ | — | | | n/a | | n/a | | n/a | | Baystate Sewage Disposal, LLC (Delayed Draw) | | 6 | | | — | | | — | | | n/a | | n/a | | n/a | | Baystate Sewage Disposal, LLC (Revolver) | | 2 | | | — | | | — | | | n/a | | n/a | | n/a | | Baystate Sewage Disposal, LLC (Class A-1 preferred units) | | — | | | 358 | | | — | | | n/a | | n/a | | n/a | | | 242 | | | 358 | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | BTR Opco LLC | | — | | | — | | | — | | | — | | | — | | | — | | | BTR Opco LLC | | — | | | — | | | — | | | — | | | — | | | — | | | BTR Opco LLC (Delayed Draw) | | — | | | — | | | — | | | — | | | — | | | — | | | BTR Opco LLC (Class A units) | | — | | | — | | | — | | | — | | | — | | | — | | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | ClearlyRated Capital, LLC | | 112 | | | — | | | — | | | n/a | | n/a | | n/a | | ClearlyRated Capital, LLC (Delayed Draw) | | 3 | | | — | | | — | | | n/a | | n/a | | n/a | | ClearlyRated Capital, LLC (Class A units) | | — | | | — | | | — | | | — | | | — | | | — | | | | 115 | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | Engineered Metal Solutions, Inc. | | 189 | | | — | | | — | | | n/a | | n/a | | n/a | | Engineered Metal Solutions, Inc. (Revolver) | | 4 | | | — | | | — | | | n/a | | n/a | | n/a | | Engineered Metal Solutions, Inc. (Class A units) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | | 193 | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | Jumpstart Holdco, Inc. (Delayed Draw) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | Jumpstart Holdco, Inc. (Revolver) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | Jumpstart Holdco, Inc. (Class A common units) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | Jumpstart Holdco, Inc. (Class A units) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | MC Aviation Limited (Equity Commitment) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | MC Voyager SPV II LLC (Equity commitment) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | Nastel Technologies, LLC | | 384 | | | — | | | — | | | 430 | | | — | | | — | | | Nastel Technologies, LLC (Revolver) | | 1 | | | — | | | — | | | — | | | — | | | — | | | Nastel Technologies, LLC (Class A units) | | — | | | — | | | — | | | — | | | — | | | — | | | | 385 | | | — | | | — | | | 430 | | | — | | | — | | | | | | | | | | | | | | | | NFS Intermediate HoldCo, LLC (Series B preferred units) | | — | | | 4,397 | | | — | | | n/a | | n/a | | n/a | | | — | | | 4,397 | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | Second Avenue SFR Holdings II LLC (Revolver) (1) | | n/a | | n/a | | n/a | | 330 | | | — | | | — | | | | — | | | — | | | — | | | 330 | | | — | | | — | | | | | | | | | | | | | | | | SFR Holdco, LLC | | 593 | | | — | | | — | | | 656 | | | — | | | — | | | SFR Holdco, LLC | | 410 | | | — | | | — | | | 365 | | | 50 | | | — | | | SFR Holdco, LLC (LLC interest) | | — | | | — | | | — | | | — | | | — | | | — | | | SFR Holdco, LLC (LLC interest) | | — | | | — | | | — | | | — | | | — | | | — | | | | 1,003 | | | — | | | — | | | 1,021 | | | 50 | | | — | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended December 31, | | | 2025 | | 2024 | | Portfolio Company | | Interest
Income | | Dividend Income | | Other Income | | Interest
Income | | Dividend Income | | Other Income | | SFR Holdco 2, LLC (Delayed Draw) | | $ | 307 | | | $ | — | | | $ | — | | | $ | 25 | | | $ | — | | | $ | — | | | SFR Holdco 2, LLC (LLC interest) | | — | | | — | | | | | — | | | — | | | — | | | | 307 | | | — | | | — | | | 25 | | | — | | | — | | | | | | | | | | | | | | | | SheerTrans Solutions, LLC | | 700 | | | — | | | 26 | | | 717 | | | — | | | — | | | SheerTrans Solutions, LLC | | 196 | | | — | | | 8 | | | 179 | | | — | | | — | | | SheerTrans Solutions, LLC (Revolver) | | 98 | | | — | | | 8 | | | 134 | | | — | | | — | | SheerTrans Solutions, LLC (Class A preferred interests) | | — | | | — | | | — | | | — | | | — | | | — | | SheerTrans Solutions, LLC (Class B preferred interests) | | — | | | — | | | — | | | — | | | — | | | — | | SheerTrans Solutions, LLC (Preferred interests) | | — | | | — | | | — | | | — | | | — | | | — | | | | 994 | | | — | | | 42 | | | 1,030 | | | — | | | — | | | | | | | | | | | | | | | | Summit Professional Education, LLC | | 204 | | | — | | | — | | | n/a | | n/a | | n/a | | Summit Professional Education, LLC | | 1,133 | | | — | | | — | | | 838 | | | — | | | — | | | Summit Professional Education, LLC (Delayed Draw) | | 18 | | | — | | | — | | | n/a | | n/a | | n/a | | Summit Professional Education, LLC (Revolver) | | 36 | | | — | | | — | | | 27 | | | — | | | — | | | Summit Professional Education, LLC (Class A units) | | — | | | — | | | — | | | — | | | — | | | — | | | | 1,391 | | | — | | | — | | | 865 | | | — | | | — | | | | | | | | | | | | | | | | Triad Financial Services, Inc. (Equity commitment) | | — | | | — | | | — | | | — | | | — | | | — | | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | Whistler Parent Holdings III, Inc. | | 3,083 | | | — | | | — | | | 581 | | | — | | | — | | | Whistler Parent Holdings III, Inc. | | 306 | | | — | | | — | | | 45 | | | — | | | — | | | Whistler Parent Holdings III, Inc. (Revolver) | | 253 | | | — | | | — | | | 34 | | | — | | | — | | | Whistler Parent Holdings III, Inc. (Series A preferred stock) | | — | | | — | | | — | | | — | | | — | | | — | | | Whistler Parent Holdings III, Inc. (Series B preferred stock) | | — | | | — | | | — | | | — | | | — | | | — | | | | 3,642 | | | — | | | — | | | 660 | | | — | | | — | | | | | | | | | | | | | | | | YBR OZ ECE, LLC | | 197 | | | — | | | — | | | n/a | | n/a | | n/a | | YBR OZ ECE, LLC (Delayed Draw) | | 29 | | | — | | | — | | | n/a | | n/a | | n/a | | YBR OZ ECE, LLC (Revolver) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | YBR OZ ECE, LLC (Class A units) | | — | | | — | | | — | | | n/a | | n/a | | n/a | | | 226 | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | Zodega Landscaping, LLC | | 1,609 | | | — | | | 18 | | | 1,730 | | | — | | | — | | | Zodega Landscaping, LLC (Revolver) | | 126 | | | — | | | 3 | | | 61 | | | — | | | — | | | Zodega Landscaping, LLC (Preferred interests) | | — | | | — | | | — | | | — | | | — | | | — | | | | 1,735 | | | — | | | 21 | | | 1,791 | | | — | | | — | | | Total non-controlled affiliate company investments | | $ | 10,233 | | | $ | 4,755 | | | $ | 63 | | | $ | 6,152 | | | $ | 50 | | | $ | — | |
_________________________________________ (1)Second Avenue SFR Holdings II LLC is a related entity to SFR Holdco, LLC and SFR Holdco 2, LLC and is presented as a non-controlled affiliate for that reason.
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