| SSLP Portfolio |
As of March 31, 2026 and December 31, 2025, SSLP had total assets of $194,907 and $192,810, respectively. For the same periods, SSLP’s portfolio consisted of floating rate senior secured loans to 25 and 25 different borrowers, respectively. For the three months ended March 31, 2026, SSLP invested $9,841 in 5 portfolio companies. Investments sold or prepaid totaled $3,434 for the three months ended March 31, 2026. For the three months ended March 31, 2025, SSLP invested $6,588 in 6 portfolio companies. Investments prepaid totaled $19,918 for the three months ended March 31, 2025. SSLP Portfolio as of March 31, 2026
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Description |
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Industry |
|
Spread
Above
Index(1) |
|
Floor |
|
|
Interest
Rate(2) |
|
|
Maturity
Date |
|
Par
Amount |
|
|
Cost |
|
|
Fair
Value(3) |
|
Alkeme Intermediary Holdings, LLC (4) |
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Insurance |
|
S+500 |
|
|
1.00 |
% |
|
|
8.70 |
% |
|
5/2027 |
|
$ |
9,075 |
|
|
$ |
8,994 |
|
|
$ |
9,075 |
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All States Ag Parts, LLC (4) |
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Trading Companies & Distributors |
|
S+650 |
|
|
1.00 |
% |
|
|
10.46 |
% |
|
9/2026 |
|
|
2,073 |
|
|
|
2,073 |
|
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|
2,073 |
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BayMark Health Services, Inc. (4) |
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Health Care Providers & Services |
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S+500 |
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1.00 |
% |
|
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8.96 |
% |
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6/2027 |
|
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3,991 |
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3,991 |
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|
3,792 |
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CC SAG Holdings Corp. (4) |
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Diversified Consumer Services |
|
S+525 |
|
|
0.75 |
% |
|
|
8.92 |
% |
|
6/2028 |
|
|
9,896 |
|
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|
9,896 |
|
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|
9,896 |
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Crewline Buyer, Inc. |
|
IT Services |
|
S+675 |
|
|
1.00 |
% |
|
|
10.42 |
% |
|
11/2030 |
|
|
5,084 |
|
|
|
4,985 |
|
|
|
5,084 |
|
CVAUSA Management, LLC (4) |
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Health Care Providers & Services |
|
S+525 |
|
|
1.00 |
% |
|
|
8.92 |
% |
|
5/2029 |
|
|
9,898 |
|
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|
9,714 |
|
|
|
9,898 |
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Exactcare Parent, Inc. |
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Health Care Providers & Services |
|
S+550 |
|
|
1.00 |
% |
|
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9.17 |
% |
|
11/2029 |
|
|
3,163 |
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|
3,102 |
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3,163 |
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Eyesouth Eye Care Holdco LLC (4) |
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Health Care Providers & Services |
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S+550 |
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1.00 |
% |
|
|
9.27 |
% |
|
10/2029 |
|
|
9,898 |
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|
|
9,860 |
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9,898 |
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Fertility (ITC) Investment Holdco, LLC (4) |
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Health Care Providers & Services |
|
S+500 |
|
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0.75 |
% |
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8.57 |
% |
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1/2029 |
|
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9,949 |
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9,836 |
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9,949 |
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Foundation Consumer Brands, LLC |
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Personal Care Products |
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S+500 |
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1.00 |
% |
|
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8.80 |
% |
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2/2029 |
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7,362 |
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7,362 |
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7,362 |
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iCIMS, Inc.(4) |
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Software |
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S+575 |
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0.75 |
% |
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9.42 |
% |
|
8/2028 |
|
|
10,000 |
|
|
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9,972 |
|
|
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10,000 |
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Maxor Acquisition, Inc.(4) |
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Health Care Providers & Services |
|
S+600 |
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1.00 |
% |
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9.77 |
% |
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3/2029 |
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7,931 |
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7,810 |
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7,931 |
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Medrina, LLC |
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Health Care Providers & Services |
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S+600 |
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1.00 |
% |
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9.63 |
% |
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10/2029 |
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2,751 |
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2,702 |
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2,751 |
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NS and Associates LLC |
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Consumer Staples Distribution & Retail |
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S+525 |
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1.00 |
% |
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8.90 |
% |
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8/2030 |
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8,056 |
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7,944 |
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8,056 |
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ONS MSO, LLC |
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Health Care Providers & Services |
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S+625 |
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1.00 |
% |
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9.92 |
% |
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7/2028 |
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5,774 |
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5,683 |
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5,774 |
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Pinnacle Fertility, Inc.(4) |
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Health Care Providers & Services |
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S+500 |
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0.75 |
% |
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8.87 |
% |
|
3/2028 |
|
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13,398 |
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13,398 |
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13,398 |
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Plastic Management, LLC(4) |
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Health Care Providers & Services |
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S+500 |
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1.00 |
% |
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8.70 |
% |
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8/2027 |
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5,507 |
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5,437 |
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5,507 |
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RQM+ Corp.(4) |
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Life Sciences Tools & Services |
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S+725 |
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1.00 |
% |
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11.21 |
% |
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8/2029 |
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6,547 |
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6,547 |
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5,238 |
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RxSense Holdings LLC |
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Diversified Consumer Services |
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S+500 |
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1.00 |
% |
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8.67 |
% |
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3/2027 |
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8,758 |
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8,758 |
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8,758 |
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SunMed Group Holdings, LLC(4) |
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Health Care Equipment & Supplies |
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S+550 |
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0.75 |
% |
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9.27 |
% |
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6/2028 |
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8,742 |
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8,742 |
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8,742 |
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The Townsend Company, LLC(4) |
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Commercial Services & Supplies |
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S+500 |
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1.00 |
% |
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8.67 |
% |
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8/2030 |
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12,863 |
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12,571 |
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12,863 |
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Tilley Distribution, Inc.(4) |
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Trading Companies & Distributors |
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S+600 |
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1.00 |
% |
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9.85 |
% |
|
12/2026 |
|
|
5,103 |
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5,103 |
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5,001 |
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United Digestive MSO Parent, LLC(4) |
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Health Care Providers & Services |
|
S+575 |
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1.00 |
% |
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|
9.40 |
% |
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3/2029 |
|
|
4,995 |
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|
4,901 |
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|
4,995 |
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UVP Management, LLC |
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Health Care Providers & Services |
|
S+550 |
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|
1.00 |
% |
|
|
9.35 |
% |
|
9/2027 |
|
|
3,288 |
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|
3,251 |
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|
3,288 |
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Western Veterinary Partners LLC(4) |
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Diversified Consumer Services |
|
S+525 |
|
|
1.00 |
% |
|
|
8.92 |
% |
|
10/2027 |
|
|
15,039 |
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|
|
14,975 |
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|
15,039 |
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$ |
187,607 |
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$ |
187,531 |
|
(1)Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR. These instruments are typically subject to a SOFR floor. (2)Floating rate debt investments typically bear interest at a rate determined by reference to the SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment, we have provided the current interest rate in effect as of March 31, 2026. (3)Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein. (4)The Company also holds this security on its Consolidated Statements of Assets and Liabilities. SSLP Portfolio as of December 31, 2025
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|
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|
Description |
|
Industry |
|
Spread
Above
Index(1) |
|
Floor |
|
|
Interest
Rate(2) |
|
|
Maturity
Date |
|
Par
Amount |
|
|
Cost |
|
|
Fair
Value(3) |
|
Alkeme Intermediary Holdings, LLC (4) |
|
Insurance |
|
S+500 |
|
|
1.00 |
% |
|
|
8.67 |
% |
|
5/2027 |
|
$ |
8,164 |
|
|
$ |
8,071 |
|
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$ |
8,164 |
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All States Ag Parts, LLC (4) |
|
Trading Companies & Distributors |
|
S+650 |
|
|
1.00 |
% |
|
|
10.43 |
% |
|
9/2026 |
|
|
2,076 |
|
|
|
2,076 |
|
|
|
2,076 |
|
BayMark Health Services, Inc. (4) |
|
Health Care Providers & Services |
|
S+500 |
|
|
1.00 |
% |
|
|
8.93 |
% |
|
6/2027 |
|
|
3,991 |
|
|
|
3,991 |
|
|
|
3,792 |
|
CC SAG Holdings Corp. (4) |
|
Diversified Consumer Services |
|
S+525 |
|
|
0.75 |
% |
|
|
8.97 |
% |
|
6/2028 |
|
|
9,922 |
|
|
|
9,922 |
|
|
|
9,922 |
|
Crewline Buyer, Inc. |
|
IT Services |
|
S+675 |
|
|
1.00 |
% |
|
|
10.59 |
% |
|
11/2030 |
|
|
5,084 |
|
|
|
4,981 |
|
|
|
5,084 |
|
CVAUSA Management, LLC (4) |
|
Health Care Providers & Services |
|
S+525 |
|
|
1.00 |
% |
|
|
8.97 |
% |
|
5/2029 |
|
|
9,924 |
|
|
|
9,727 |
|
|
|
9,924 |
|
Exactcare Parent, Inc. |
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Health Care Providers & Services |
|
S+550 |
|
|
1.00 |
% |
|
|
9.39 |
% |
|
11/2029 |
|
|
3,171 |
|
|
|
3,106 |
|
|
|
3,171 |
|
Eyesouth Eye Care Holdco LLC (4) |
|
Health Care Providers & Services |
|
S+550 |
|
|
1.00 |
% |
|
|
9.47 |
% |
|
10/2029 |
|
|
9,923 |
|
|
|
9,883 |
|
|
|
9,923 |
|
Fertility (ITC) Investment Holdco, LLC (4) |
|
Health Care Providers & Services |
|
S+500 |
|
|
0.75 |
% |
|
|
9.12 |
% |
|
1/2029 |
|
|
5,835 |
|
|
|
5,727 |
|
|
|
5,835 |
|
Foundation Consumer Brands, LLC |
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Personal Care Products |
|
S+500 |
|
|
1.00 |
% |
|
|
9.09 |
% |
|
2/2029 |
|
|
7,777 |
|
|
|
7,777 |
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|
|
7,777 |
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iCIMS, Inc.(4) |
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Software |
|
S+575 |
|
|
0.75 |
% |
|
|
9.61 |
% |
|
8/2028 |
|
|
10,000 |
|
|
|
9,970 |
|
|
|
10,000 |
|
Maxor Acquisition, Inc.(4) |
|
Health Care Providers & Services |
|
S+600 |
|
|
1.00 |
% |
|
|
9.82 |
% |
|
3/2029 |
|
|
7,951 |
|
|
|
7,822 |
|
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|
7,951 |
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Medrina, LLC |
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Health Care Providers & Services |
|
S+600 |
|
|
1.00 |
% |
|
|
9.69 |
% |
|
10/2029 |
|
|
2,758 |
|
|
|
2,706 |
|
|
|
2,758 |
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NS and Associates LLC |
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Consumer Staples Distribution & Retail |
|
S+525 |
|
|
1.00 |
% |
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|
9.01 |
% |
|
8/2030 |
|
|
8,076 |
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|
7,958 |
|
|
|
8,076 |
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ONS MSO, LLC |
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Health Care Providers & Services |
|
S+625 |
|
|
1.00 |
% |
|
|
10.09 |
% |
|
7/2028 |
|
|
5,789 |
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|
5,689 |
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|
5,789 |
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Pinnacle Fertility, Inc.(4) |
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Health Care Providers & Services |
|
S+500 |
|
|
0.75 |
% |
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|
9.27 |
% |
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3/2028 |
|
|
13,432 |
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|
|
13,432 |
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|
13,432 |
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Plastic Management, LLC(4) |
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Health Care Providers & Services |
|
S+500 |
|
|
1.00 |
% |
|
|
8.67 |
% |
|
8/2027 |
|
|
5,522 |
|
|
|
5,439 |
|
|
|
5,522 |
|
RQM+ Corp.(4) |
|
Life Sciences Tools & Services |
|
S+675 |
|
|
1.00 |
% |
|
|
10.68 |
% |
|
8/2029 |
|
|
6,152 |
|
|
|
6,152 |
|
|
|
5,537 |
|
RxSense Holdings LLC |
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Diversified Consumer Services |
|
S+500 |
|
|
1.00 |
% |
|
|
8.84 |
% |
|
3/2026 |
|
|
8,782 |
|
|
|
8,782 |
|
|
|
8,782 |
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SunMed Group Holdings, LLC(4) |
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Health Care Equipment & Supplies |
|
S+550 |
|
|
0.75 |
% |
|
|
9.44 |
% |
|
6/2028 |
|
|
8,765 |
|
|
|
8,765 |
|
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|
8,765 |
|
The Townsend Company, LLC(4) |
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Commercial Services & Supplies |
|
S+500 |
|
|
1.00 |
% |
|
|
8.72 |
% |
|
8/2030 |
|
|
12,020 |
|
|
|
11,723 |
|
|
|
12,020 |
|
Tilley Distribution, Inc.(4) |
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Trading Companies & Distributors |
|
S+600 |
|
|
1.00 |
% |
|
|
9.82 |
% |
|
12/2026 |
|
|
5,548 |
|
|
|
5,548 |
|
|
|
5,437 |
|
United Digestive MSO Parent, LLC(4) |
|
Health Care Providers & Services |
|
S+575 |
|
|
1.00 |
% |
|
|
9.42 |
% |
|
3/2029 |
|
|
5,007 |
|
|
|
4,907 |
|
|
|
5,007 |
|
UVP Management, LLC |
|
Health Care Providers & Services |
|
S+550 |
|
|
1.00 |
% |
|
|
9.32 |
% |
|
9/2027 |
|
|
3,288 |
|
|
|
3,245 |
|
|
|
3,288 |
|
Western Veterinary Partners LLC(4) |
|
Diversified Consumer Services |
|
S+525 |
|
|
1.00 |
% |
|
|
8.92 |
% |
|
10/2027 |
|
|
13,337 |
|
|
|
13,282 |
|
|
|
13,337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
180,681 |
|
|
$ |
181,369 |
|
(1)Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR. These instruments are typically subject to a SOFR floor. (2)Floating rate debt investments typically bear interest at a rate determined by reference to the SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment, we have provided the current interest rate in effect as of December 31, 2025. (3)Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein. (4)The Company also holds this security on its Consolidated Statements of Assets and Liabilities.
|
| Summary Financial Information for SSLP |
Below is certain summarized financial information for SSLP as of March 31, 2026 and December 31, 2025 and for the three months ended March 31, 2026 and March 31, 2025:
|
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|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31,
2025 |
|
Selected Balance Sheet Information for SSLP: |
|
|
|
|
|
|
Investments at fair value (cost $187,607 and $180,681,
respectively) |
|
$ |
187,531 |
|
|
$ |
181,369 |
|
Cash and other assets |
|
|
7,376 |
|
|
|
11,441 |
|
Total assets |
|
$ |
194,907 |
|
|
$ |
192,810 |
|
Debt outstanding ($96,500 and $94,500 face amounts,
respectively, reported net of unamortized debt issuance
costs of $1,748 and $1,843, respectively) |
|
$ |
94,752 |
|
|
$ |
92,657 |
|
Distributions payable |
|
|
2,585 |
|
|
|
1,885 |
|
Interest payable and other credit facility related expenses |
|
|
1,435 |
|
|
|
1,488 |
|
Accrued expenses and other payables |
|
|
258 |
|
|
|
268 |
|
Total liabilities |
|
$ |
99,030 |
|
|
$ |
96,298 |
|
Members’ equity |
|
$ |
95,877 |
|
|
$ |
96,512 |
|
Total liabilities and members’ equity |
|
$ |
194,907 |
|
|
$ |
192,810 |
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
March 31, 2026 |
|
|
March 31, 2025 |
|
Selected Income Statement Information for SSLP: |
|
|
|
|
|
Interest income |
$ |
4,412 |
|
|
$ |
4,469 |
|
Service fees* |
|
115 |
|
|
|
105 |
|
Interest and other credit facility expenses |
|
1,531 |
|
|
|
2,242 |
|
Other general and administrative expenses |
|
52 |
|
|
|
71 |
|
Total expenses |
|
1,698 |
|
|
|
2,418 |
|
Net investment income |
$ |
2,714 |
|
|
$ |
2,051 |
|
Realized gain on investments |
|
— |
|
|
|
323 |
|
Net change in unrealized gain (loss) on investments |
|
(763 |
) |
|
|
(285 |
) |
Net realized and unrealized gain (loss) on investments |
$ |
(763 |
) |
|
$ |
38 |
|
Net income |
$ |
1,951 |
|
|
$ |
2,089 |
|
* Service fees are included within the Company’s Consolidated Statements of Operations as other income.
|