| Commitments and Contingencies |
Note 9. Commitments and Contingencies The Company may enter into certain credit agreements that include loan commitments where all or a portion of such commitment may be unfunded. The Company is generally obligated to fund the unfunded loan commitments at the borrowers’ discretion. Funded portions of credit agreements are presented on the accompanying consolidated schedule of investments. The following table summarizes the Company’s significant contractual payment obligations as of March 31, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unfunded Commitment Balances |
|
Investment |
|
Investment Type |
|
Index (^) |
|
Spread |
|
Interest Rate |
|
Maturity |
|
Industry |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midwest Eye Services |
|
Senior Secured Fourth Amendment Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/20/2027 |
|
Healthcare & Pharmaceuticals |
|
$ |
1,430,667 |
|
|
$ |
1,576,000 |
|
Prime Pensions |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
2/26/2030 |
|
Banking, Finance, Insurance & Real Estate |
|
|
1,253,333 |
|
|
|
1,253,333 |
|
Onyx Fire |
|
Senior Secured Second Amendment Incremental DDTL |
|
S+ |
|
4.50% |
|
8.18% |
|
7/31/2031 |
|
Services: Business |
|
|
1,000,000 |
|
|
|
— |
|
Summit Spine 2025 |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
3/25/2031 |
|
Healthcare & Pharmaceuticals |
|
|
986,972 |
|
|
|
986,972 |
|
Electro Methods |
|
Senior Secured Revolving Credit Facility |
|
S+ |
|
4.75% |
|
8.43% |
|
2/23/2032 |
|
Aerospace & Defense |
|
|
812,714 |
|
|
|
812,714 |
|
Embark |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/2/2032 |
|
Services: Business |
|
|
800,000 |
|
|
|
800,000 |
|
Minds + Assembly |
|
Senior Secured Revolving Loan (First Lien) |
|
S+ |
|
5.00% |
|
8.68% |
|
5/3/2029 |
|
Healthcare & Pharmaceuticals |
|
|
683,230 |
|
|
|
683,230 |
|
Kenco |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
11/15/2029 |
|
Transportation: Cargo |
|
|
666,614 |
|
|
|
913,170 |
|
Cherry Bekaert |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
6/30/2030 |
|
Banking, Finance, Insurance & Real Estate |
|
|
531,399 |
|
|
|
616,472 |
|
Ned Stevens 2022-2 |
|
Senior Secured 2025 Incremental Delayed Draw Term Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
11/1/2029 |
|
Services: Consumer |
|
|
511,968 |
|
|
|
708,787 |
|
Ned Stevens 2022-2 |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
11/1/2028 |
|
Services: Consumer |
|
|
507,703 |
|
|
|
507,703 |
|
Miller Environmental |
|
Senior Secured Delayed Draw Term Loan (General) |
|
S+ |
|
5.00% |
|
8.68% |
|
9/10/2031 |
|
Environmental Industries |
|
|
505,263 |
|
|
|
726,316 |
|
Aprio |
|
Senior Secured 2025-2 Incremental Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/1/2031 |
|
Services: Business |
|
|
500,000 |
|
|
|
500,000 |
|
Frazier & Deeter |
|
Senior Secured 2026 Incremental Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
5/3/2032 |
|
Banking, Finance, Insurance & Real Estate |
|
|
500,000 |
|
|
|
— |
|
Sequel Ortho (fka OrthoNebraska) |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
7/31/2028 |
|
Healthcare & Pharmaceuticals |
|
|
481,266 |
|
|
|
481,266 |
|
Engine & Transmission Exchange |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
5/26/2029 |
|
Automotive |
|
|
478,873 |
|
|
|
513,078 |
|
Kept Companies |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
4/30/2029 |
|
Services: Business |
|
|
475,425 |
|
|
|
475,425 |
|
Summit Spine 2025 |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
3/25/2031 |
|
Healthcare & Pharmaceuticals |
|
|
463,877 |
|
|
|
463,877 |
|
MediaRadar |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
9/16/2029 |
|
Media: Advertising, Printing & Publishing |
|
|
406,737 |
|
|
|
337,010 |
|
Miller Environmental |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
9/10/2031 |
|
Environmental Industries |
|
|
400,916 |
|
|
|
400,916 |
|
Prime Pensions |
|
Senior Secured Revolving Credit |
|
S+ |
|
4.75% |
|
8.43% |
|
2/26/2030 |
|
Banking, Finance, Insurance & Real Estate |
|
|
380,952 |
|
|
|
380,952 |
|
InnovateMR |
|
Senior Secured Revolving Loan |
|
S+ |
|
6.00% |
|
9.68% |
|
1/20/2028 |
|
Services: Business |
|
|
365,388 |
|
|
|
365,388 |
|
Heartland |
|
Senior Secured 2025 Incremental Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
12/12/2029 |
|
Services: Business |
|
|
338,468 |
|
|
|
338,468 |
|
Amplix |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
10/18/2029 |
|
Services: Business |
|
|
329,670 |
|
|
|
329,670 |
|
Midwest Eye Services |
|
Senior Secured Fourth Amendment Incremental Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/20/2027 |
|
Healthcare & Pharmaceuticals |
|
|
322,034 |
|
|
|
322,034 |
|
Kenco |
|
Senior Secured DDTL |
|
S+ |
|
4.25% |
|
7.93% |
|
11/15/2029 |
|
Transportation: Cargo |
|
|
319,523 |
|
|
|
319,523 |
|
Eagle Fire |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
7/15/2032 |
|
Services: Business |
|
|
314,949 |
|
|
|
314,949 |
|
Trystar |
|
Senior Secured Amendment No. 2 Incremental Delayed Draw Term Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
8/6/2031 |
|
Capital Equipment |
|
|
312,500 |
|
|
|
— |
|
Lindsay Precast |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
12/16/2032 |
|
Construction & Building |
|
|
310,345 |
|
|
|
310,345 |
|
Vertellus |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.75% |
|
9.43% |
|
1/2/2029 |
|
Chemicals, Plastics & Rubber |
|
|
308,611 |
|
|
|
284,028 |
|
Super-Sod |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
3/10/2032 |
|
Services: Consumer |
|
|
303,030 |
|
|
|
— |
|
Lindsay Precast |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
12/16/2032 |
|
Construction & Building |
|
|
284,483 |
|
|
|
284,483 |
|
RevHealth |
|
Senior Secured Revolving Loan |
|
S+ |
|
2.50% |
|
6.18% |
|
7/21/2028 |
|
Healthcare & Pharmaceuticals |
|
|
282,534 |
|
|
|
333,904 |
|
Specialized Dental |
|
Senior Secured Sixth Amendment DDTL |
|
S+ |
|
4.75% |
|
8.43% |
|
11/1/2028 |
|
Healthcare & Pharmaceuticals |
|
|
280,374 |
|
|
|
280,374 |
|
Associated Springs |
|
Senior Secured Amendment No. 1 Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
4/4/2030 |
|
Capital Equipment |
|
|
280,303 |
|
|
|
325,758 |
|
Beta+ |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
7/1/2027 |
|
Banking, Finance, Insurance & Real Estate |
|
|
276,289 |
|
|
|
193,402 |
|
A1 Garage Door |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/22/2028 |
|
Construction & Building |
|
|
275,482 |
|
|
|
275,482 |
|
Trystar |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
8/6/2031 |
|
Capital Equipment |
|
|
272,724 |
|
|
|
272,724 |
|
Brown & Root |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
10/3/2030 |
|
Construction & Building |
|
|
270,962 |
|
|
|
192,857 |
|
CCG |
|
Senior Secured Revolving Facility |
|
S+ |
|
4.50% |
|
8.18% |
|
12/30/2032 |
|
Services: Business |
|
|
270,758 |
|
|
|
270,758 |
|
Dane Street |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
3/24/2033 |
|
Healthcare & Pharmaceuticals |
|
|
270,000 |
|
|
|
— |
|
Ivy Rehab |
|
Senior Secured Amendment No. 3 Delayed Draw Term Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
4/23/2029 |
|
Healthcare & Pharmaceuticals |
|
|
259,333 |
|
|
|
349,000 |
|
Gallo Mechanical |
|
Senior Secured Initial Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/2/2032 |
|
Services: Business |
|
|
253,934 |
|
|
|
253,934 |
|
Options IT |
|
Senior Secured Effective Date Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/30/2031 |
|
High Tech Industries |
|
|
247,692 |
|
|
|
256,410 |
|
Super-Sod |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
3/10/2032 |
|
Services: Consumer |
|
|
242,424 |
|
|
|
— |
|
Heartland |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
12/12/2029 |
|
Services: Business |
|
|
238,484 |
|
|
|
252,112 |
|
Hissho Sushi |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
5/18/2029 |
|
Beverage, Food & Tobacco |
|
|
238,095 |
|
|
|
238,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment |
|
Investment Type |
|
Index (^) |
|
Spread |
|
Interest Rate |
|
Maturity |
|
Industry |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Vortex Companies |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
9/4/2029 |
|
Services: Business |
|
$ |
235,518 |
|
|
$ |
235,518 |
|
Voeller |
|
Senior Secured Initial Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
11/25/2032 |
|
Construction & Building |
|
|
232,558 |
|
|
|
232,558 |
|
Rover |
|
Senior Secured Amendment No. 1 Incremental Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
2/27/2031 |
|
Services: Consumer |
|
|
229,500 |
|
|
|
376,500 |
|
Clearway |
|
Senior Secured Tenth Amendment Delayed Draw Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
8/30/2030 |
|
Healthcare & Pharmaceuticals |
|
|
226,837 |
|
|
|
226,837 |
|
Vessco |
|
Senior Secured 2025 Incremental DDTL |
|
S+ |
|
4.50% |
|
8.18% |
|
11/3/2032 |
|
Utilities: Water |
|
|
225,623 |
|
|
|
225,623 |
|
Whitcraft |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
9/30/2031 |
|
Aerospace & Defense |
|
|
216,071 |
|
|
|
267,857 |
|
GoldenSource |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
5/12/2028 |
|
Services: Business |
|
|
215,962 |
|
|
|
215,962 |
|
Blue Cloud |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
1/21/2031 |
|
Healthcare & Pharmaceuticals |
|
|
210,227 |
|
|
|
68,182 |
|
PayByPhone |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
3/31/2033 |
|
High Tech Industries |
|
|
205,128 |
|
|
|
— |
|
Steward Partners |
|
Senior Secured Delayed Draw Term C Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
10/14/2028 |
|
Banking, Finance, Insurance & Real Estate |
|
|
200,889 |
|
|
|
388,667 |
|
Plaskolite |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
7.00% |
|
10.68% |
|
2/7/2030 |
|
Capital Equipment |
|
|
200,067 |
|
|
|
235,294 |
|
TRG |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
1/5/2032 |
|
Capital Equipment |
|
|
200,000 |
|
|
|
— |
|
Gallo Mechanical |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/2/2032 |
|
Services: Business |
|
|
195,334 |
|
|
|
195,334 |
|
Industrial Services Group |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.75% |
|
9.43% |
|
12/7/2028 |
|
Services: Business |
|
|
190,476 |
|
|
|
228,571 |
|
80/20 |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/12/2032 |
|
Capital Equipment |
|
|
190,476 |
|
|
|
190,476 |
|
O6 Environmental |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/5/2032 |
|
Environmental Industries |
|
|
185,476 |
|
|
|
185,476 |
|
Levata |
|
Senior Secured Sixteenth Amendment Incremental Delayed Draw Term Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
12/21/2027 |
|
Services: Business |
|
|
184,075 |
|
|
|
184,075 |
|
Embark |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/2/2032 |
|
Services: Business |
|
|
184,000 |
|
|
|
192,000 |
|
Secretariat |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.00% |
|
7.68% |
|
2/28/2032 |
|
Services: Business |
|
|
180,723 |
|
|
|
180,723 |
|
Cerity Partners |
|
Senior Secured Initial Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
7/28/2028 |
|
Banking, Finance, Insurance & Real Estate |
|
|
172,043 |
|
|
|
240,860 |
|
Aurora Energy Research |
|
Senior Secured Delayed Draw Term Facility Notes |
|
S+ |
|
5.00% |
|
8.68% |
|
9/8/2032 |
|
Services: Business |
|
|
166,667 |
|
|
|
166,667 |
|
VaxCare |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
6/17/2032 |
|
Healthcare & Pharmaceuticals |
|
|
166,667 |
|
|
|
166,667 |
|
Aprio |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/1/2031 |
|
Services: Business |
|
|
166,455 |
|
|
|
249,682 |
|
Denali Water Solutions |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
11/19/2032 |
|
Environmental Industries |
|
|
164,103 |
|
|
|
— |
|
O6 Environmental |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/5/2032 |
|
Environmental Industries |
|
|
162,291 |
|
|
|
162,291 |
|
Clearway |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
8/30/2030 |
|
Healthcare & Pharmaceuticals |
|
|
161,933 |
|
|
|
161,933 |
|
Capital Consultants Management |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
11/1/2031 |
|
Services: Business |
|
|
157,746 |
|
|
|
157,746 |
|
Aptive Environmental |
|
Senior Secured Initial Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
10/15/2032 |
|
Services: Consumer |
|
|
155,039 |
|
|
|
155,039 |
|
AGS Health |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/2/2032 |
|
Healthcare & Pharmaceuticals |
|
|
151,520 |
|
|
|
83,340 |
|
Rover |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
2/27/2031 |
|
Services: Consumer |
|
|
150,000 |
|
|
|
150,000 |
|
Dun & Bradstreet |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
8/26/2032 |
|
Services: Business |
|
|
150,000 |
|
|
|
150,000 |
|
Liberty Group |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.75% |
|
9.43% |
|
12/15/2028 |
|
Services: Business |
|
|
147,727 |
|
|
|
147,727 |
|
Tank Holding |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.75% |
|
9.43% |
|
3/31/2028 |
|
Capital Equipment |
|
|
147,692 |
|
|
|
147,692 |
|
Voeller |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
11/25/2032 |
|
Construction & Building |
|
|
147,287 |
|
|
|
186,047 |
|
Inhabit |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
1/12/2032 |
|
High Tech Industries |
|
|
138,889 |
|
|
|
138,889 |
|
Lexitas |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
4/15/2031 |
|
Services: Business |
|
|
136,546 |
|
|
|
144,947 |
|
EPIC Insurance |
|
Senior Secured Fifth Amendment Refinancing Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/29/2028 |
|
Banking, Finance, Insurance & Real Estate |
|
|
134,981 |
|
|
|
179,699 |
|
Eagle Fire |
|
Senior Secured Initial Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
7/15/2032 |
|
Services: Business |
|
|
134,615 |
|
|
|
134,615 |
|
Insight Global |
|
Senior Secured 2024 Refinancing Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
9/22/2028 |
|
Services: Business |
|
|
134,178 |
|
|
|
134,178 |
|
AI Fire & Safety |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
2/2/2032 |
|
Services: Business |
|
|
129,779 |
|
|
|
174,632 |
|
Americhem |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
3/1/2032 |
|
Chemicals, Plastics & Rubber |
|
|
128,571 |
|
|
|
128,571 |
|
PayByPhone |
|
Senior Secured Revolving Credit |
|
S+ |
|
4.75% |
|
8.43% |
|
3/31/2033 |
|
High Tech Industries |
|
|
128,205 |
|
|
|
— |
|
Discovery Education |
|
Senior Secured Revolving Credit Loan (First Lien) |
|
S+ |
|
5.75% |
|
9.43% |
|
4/9/2029 |
|
Services: Business |
|
|
128,205 |
|
|
|
76,923 |
|
80/20 |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/12/2032 |
|
Capital Equipment |
|
|
126,984 |
|
|
|
126,984 |
|
Dane Street |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
3/24/2033 |
|
Healthcare & Pharmaceuticals |
|
|
125,000 |
|
|
|
— |
|
TRG |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
1/5/2032 |
|
Capital Equipment |
|
|
125,000 |
|
|
|
— |
|
Steward Partners |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
10/14/2028 |
|
Banking, Finance, Insurance & Real Estate |
|
|
125,000 |
|
|
|
125,000 |
|
SupplyHouse |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.00% |
|
7.68% |
|
7/1/2032 |
|
Capital Equipment |
|
|
125,000 |
|
|
|
125,000 |
|
Electric Power Engineers |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/31/2031 |
|
Construction & Building |
|
|
123,810 |
|
|
|
238,095 |
|
Shrieve |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
6.00% |
|
9.68% |
|
10/30/2030 |
|
Chemicals, Plastics & Rubber |
|
|
114,792 |
|
|
|
147,694 |
|
Healthcare Linen Service Group |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
2/2/2033 |
|
Healthcare & Pharmaceuticals |
|
|
111,940 |
|
|
|
— |
|
APT Healthcare |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/30/2031 |
|
Healthcare & Pharmaceuticals |
|
|
111,111 |
|
|
|
111,111 |
|
APT Healthcare |
|
Senior Secured Initial Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/30/2031 |
|
Healthcare & Pharmaceuticals |
|
|
111,111 |
|
|
|
111,111 |
|
Industrial Physics |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
6.25% |
|
9.93% |
|
7/19/2028 |
|
Containers, Packaging & Glass |
|
|
107,759 |
|
|
|
47,414 |
|
RailPros |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
5/24/2032 |
|
Construction & Building |
|
|
107,692 |
|
|
|
153,846 |
|
VC3 |
|
Senior Secured RC |
|
S+ |
|
5.00% |
|
8.68% |
|
3/12/2029 |
|
Services: Business |
|
|
107,692 |
|
|
|
107,692 |
|
PlayPower |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
10/29/2030 |
|
Construction & Building |
|
|
106,092 |
|
|
|
106,092 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment |
|
Investment Type |
|
Index (^) |
|
Spread |
|
Interest Rate |
|
Maturity |
|
Industry |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Ascend |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/11/2031 |
|
Services: Business |
|
$ |
103,093 |
|
|
$ |
171,821 |
|
Cirtec Medical |
|
Senior Secured Revolving Credit (First Lien) |
|
S+ |
|
5.00% |
|
8.68% |
|
10/31/2028 |
|
Healthcare & Pharmaceuticals |
|
|
102,778 |
|
|
|
116,667 |
|
Ivy Rehab |
|
Senior Secured Revolving Credit Loan (First Lien) |
|
S+ |
|
4.75% |
|
8.43% |
|
4/21/2028 |
|
Healthcare & Pharmaceuticals |
|
|
101,347 |
|
|
|
131,650 |
|
Tronair |
|
Senior Secured Revolving Loan |
|
S+ |
|
3.75% |
|
7.43% |
|
12/22/2032 |
|
Aerospace & Defense |
|
|
100,000 |
|
|
|
100,000 |
|
Associated Springs |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
4/4/2030 |
|
Capital Equipment |
|
|
94,406 |
|
|
|
94,406 |
|
FMG Suite |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
9/9/2032 |
|
Services: Consumer |
|
|
94,340 |
|
|
|
94,340 |
|
Americhem |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
3/1/2032 |
|
Chemicals, Plastics & Rubber |
|
|
90,909 |
|
|
|
90,909 |
|
Precision Concepts |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/2/2032 |
|
Containers, Packaging & Glass |
|
|
90,471 |
|
|
|
105,004 |
|
AI Fire & Safety |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
2/2/2032 |
|
Services: Business |
|
|
89,820 |
|
|
|
89,820 |
|
Burke Porter Group |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
6.00% |
|
9.68% |
|
7/29/2028 |
|
Capital Equipment |
|
|
88,872 |
|
|
|
98,809 |
|
Aprio |
|
Senior Secured 2025 Incremental Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
8/1/2031 |
|
Services: Business |
|
|
87,884 |
|
|
|
343,877 |
|
Inhabit |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
1/12/2032 |
|
High Tech Industries |
|
|
87,715 |
|
|
|
87,715 |
|
Frazier & Deeter |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
5/3/2032 |
|
Banking, Finance, Insurance & Real Estate |
|
|
86,765 |
|
|
|
86,765 |
|
Kept Companies |
|
Senior Secured DDTAL Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
4/30/2029 |
|
Services: Business |
|
|
84,531 |
|
|
|
229,903 |
|
AGS Health |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/2/2032 |
|
Healthcare & Pharmaceuticals |
|
|
83,340 |
|
|
|
151,520 |
|
Avalon |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/31/2031 |
|
Healthcare & Pharmaceuticals |
|
|
83,333 |
|
|
|
83,333 |
|
Trystar |
|
Senior Secured Amendment No. 2 Incremental Revolver |
|
S+ |
|
4.25% |
|
7.93% |
|
8/6/2031 |
|
Capital Equipment |
|
|
83,333 |
|
|
|
— |
|
Leaf Home |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
9/4/2031 |
|
Construction & Building |
|
|
83,250 |
|
|
|
99,000 |
|
Industrial Electric Manufacturing |
|
Senior Secured 2025 Incremental DDTL |
|
S+ |
|
4.50% |
|
8.18% |
|
12/3/2031 |
|
Capital Equipment |
|
|
81,226 |
|
|
|
81,226 |
|
RailPros |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
5/24/2032 |
|
Construction & Building |
|
|
80,666 |
|
|
|
80,666 |
|
Apex Service Partners |
|
Senior Secured 2024 Revolving Credit Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
10/24/2029 |
|
Services: Consumer |
|
|
79,053 |
|
|
|
107,800 |
|
Aptive Environmental |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
10/15/2032 |
|
Services: Consumer |
|
|
77,519 |
|
|
|
77,519 |
|
Pegasus |
|
Senior Secured Amendment No. 1 Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
1/19/2031 |
|
Capital Equipment |
|
|
76,955 |
|
|
|
85,789 |
|
AIA Contract |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
7/2/2031 |
|
Services: Business |
|
|
75,758 |
|
|
|
75,758 |
|
Health Management Associates |
|
Senior Secured Revolving Loan |
|
S+ |
|
6.25% |
|
9.93% |
|
3/30/2029 |
|
Services: Business |
|
|
71,048 |
|
|
|
71,048 |
|
Nvision |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
12/31/2028 |
|
Healthcare & Pharmaceuticals |
|
|
67,470 |
|
|
|
85,071 |
|
Alliance Environmental Group |
|
Senior Secured Priority Revolving Loan |
|
S+ |
|
0.00% |
|
3.68% |
|
12/30/2028 |
|
Environmental Industries |
|
|
66,225 |
|
|
|
66,225 |
|
Options IT |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
3/31/2031 |
|
High Tech Industries |
|
|
65,225 |
|
|
|
65,225 |
|
MB2 Dental |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
2/13/2031 |
|
Healthcare & Pharmaceuticals |
|
|
64,171 |
|
|
|
54,813 |
|
insightsoftware |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
5/25/2028 |
|
High Tech Industries |
|
|
62,273 |
|
|
|
82,451 |
|
Radwell |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
4/1/2029 |
|
Capital Equipment |
|
|
61,332 |
|
|
|
66,665 |
|
Carlisle Foodservice |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
10/2/2029 |
|
Wholesale |
|
|
61,238 |
|
|
|
75,204 |
|
Electric Power Engineers |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/31/2031 |
|
Construction & Building |
|
|
58,065 |
|
|
|
96,774 |
|
Lexitas |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
4/15/2031 |
|
Services: Business |
|
|
57,274 |
|
|
|
57,274 |
|
R. F. Fager |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
3/4/2030 |
|
Services: Consumer |
|
|
56,942 |
|
|
|
49,033 |
|
FMG Suite |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
9/9/2032 |
|
Services: Consumer |
|
|
56,604 |
|
|
|
56,604 |
|
Argano |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
9/13/2029 |
|
Services: Business |
|
|
55,647 |
|
|
|
55,647 |
|
Aurora Energy Research |
|
Senior Secured Original Revolving Facility Notes |
|
S+ |
|
5.00% |
|
8.68% |
|
9/8/2032 |
|
Services: Business |
|
|
55,556 |
|
|
|
55,556 |
|
AGS Health |
|
Senior Secured Tranche A Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/2/2032 |
|
Healthcare & Pharmaceuticals |
|
|
53,040 |
|
|
|
30,300 |
|
S&P Engineering Solutions |
|
Senior Secured 2024 Converted Revolving Credit Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
5/2/2029 |
|
Services: Business |
|
|
49,020 |
|
|
|
49,020 |
|
Trace3 |
|
Senior Secured Delayed Draw Term B Loan |
|
S+ |
|
4.00% |
|
7.68% |
|
10/29/2032 |
|
Services: Business |
|
|
47,619 |
|
|
|
47,619 |
|
Specialized Dental |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
11/1/2028 |
|
Healthcare & Pharmaceuticals |
|
|
46,729 |
|
|
|
46,729 |
|
Encore |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
12/5/2029 |
|
Hotels, Gaming & Leisure |
|
|
44,861 |
|
|
|
54,709 |
|
Healthcare Linen Service Group |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
2/2/2033 |
|
Healthcare & Pharmaceuticals |
|
|
44,776 |
|
|
|
— |
|
Alliance Environmental Group |
|
Senior Secured Revolving Loan |
|
S+ |
|
0.00% |
|
3.68% |
|
12/30/2028 |
|
Environmental Industries |
|
|
44,702 |
|
|
|
102,649 |
|
Vessco |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
11/3/2032 |
|
Utilities: Water |
|
|
42,308 |
|
|
|
42,308 |
|
Ohio Transmission |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
5.75% |
|
9.43% |
|
12/19/2030 |
|
Capital Equipment |
|
|
40,329 |
|
|
|
40,329 |
|
Nvision |
|
Senior Secured First Amendment Delayed Draw Term Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
12/31/2028 |
|
Healthcare & Pharmaceuticals |
|
|
34,665 |
|
|
|
34,665 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment |
|
Investment Type |
|
Index (^) |
|
Spread |
|
Interest Rate |
|
Maturity |
|
Industry |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
LightBox |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
1/13/2030 |
|
High Tech Industries |
|
|
32,960 |
|
|
|
32,960 |
|
AGS Health |
|
Senior Secured Tranche A Revolving Credit Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/2/2032 |
|
Healthcare & Pharmaceuticals |
|
|
30,300 |
|
|
|
53,040 |
|
Frazier & Deeter |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
5/2/2031 |
|
Banking, Finance, Insurance & Real Estate |
|
|
29,412 |
|
|
|
88,235 |
|
Ohio Transmission |
|
Senior Secured Initial Revolving Loan |
|
S+ |
|
5.75% |
|
9.43% |
|
12/19/2029 |
|
Capital Equipment |
|
|
27,733 |
|
|
|
20,800 |
|
Mitratech |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
12/2/2031 |
|
Services: Business |
|
|
22,936 |
|
|
|
22,936 |
|
Keter Environmental Services |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
10/29/2027 |
|
Environmental Industries |
|
|
22,610 |
|
|
|
49,096 |
|
Augusta Sportswear |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
7.00% |
|
10.68% |
|
11/21/2028 |
|
Consumer Goods: Non-Durable |
|
|
19,664 |
|
|
|
103,887 |
|
R. F. Fager |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
3/4/2030 |
|
Services: Consumer |
|
|
18,506 |
|
|
|
83,515 |
|
Mitratech |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.75% |
|
8.43% |
|
12/2/2031 |
|
Services: Business |
|
|
18,349 |
|
|
|
18,349 |
|
FLS Transportation |
|
Senior Secured Revolving Credit Loan |
|
S+ |
|
5.25% |
|
8.93% |
|
12/17/2027 |
|
Transportation: Cargo |
|
|
1,111 |
|
|
|
1,111 |
|
Nvision |
|
Senior Secured Fourth Amendment Delayed Draw Term Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
12/31/2028 |
|
Healthcare & Pharmaceuticals |
|
|
— |
|
|
|
817,121 |
|
Trystar |
|
Senior Secured Delayed Draw Term Loan |
|
S+ |
|
4.25% |
|
7.93% |
|
8/6/2031 |
|
Capital Equipment |
|
|
— |
|
|
|
411,993 |
|
EPIC Insurance |
|
Senior Secured Refinancing Third Amendment Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
9/29/2028 |
|
Banking, Finance, Insurance & Real Estate |
|
|
— |
|
|
|
353,029 |
|
EyeSouth Partners |
|
Senior Secured Amendment No.2 Delayed Draw Term Loan (First Lien) |
|
S+ |
|
5.50% |
|
9.18% |
|
10/5/2029 |
|
Healthcare & Pharmaceuticals |
|
|
— |
|
|
|
208,323 |
|
Denali Water Solutions |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
1/29/2026 |
|
Environmental Industries |
|
|
— |
|
|
|
196,154 |
|
MB2 Dental |
|
Senior Secured Tranche 1 Delayed Draw Term Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
2/13/2031 |
|
Healthcare & Pharmaceuticals |
|
|
— |
|
|
|
160,428 |
|
Apex Service Partners |
|
Senior Secured Second Amendment Incremental DDTL Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
10/24/2030 |
|
Services: Consumer |
|
|
— |
|
|
|
116,393 |
|
Micro Merchant Systems |
|
Senior Secured Revolving Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
12/14/2027 |
|
Healthcare & Pharmaceuticals |
|
|
— |
|
|
|
111,111 |
|
insightsoftware |
|
Senior Secured Seventh Supplemental DDTL |
|
S+ |
|
5.25% |
|
8.93% |
|
5/25/2028 |
|
High Tech Industries |
|
|
— |
|
|
|
103,333 |
|
USALCO |
|
Senior Secured 2025 Delayed Draw Term Loan |
|
S+ |
|
3.50% |
|
7.18% |
|
9/30/2031 |
|
Chemicals, Plastics & Rubber |
|
|
— |
|
|
|
103,030 |
|
Vensure |
|
Senior Secured Initial Delayed Draw Term Loan |
|
S+ |
|
5.00% |
|
8.68% |
|
9/27/2031 |
|
Services: Business |
|
|
— |
|
|
|
31,253 |
|
Ascend |
|
Senior Secured Closing Date Delayed Draw Term Loan |
|
S+ |
|
4.50% |
|
8.18% |
|
8/11/2031 |
|
Services: Business |
|
|
— |
|
|
|
25,773 |
|
United Comfort Group (fka United Air Temp) |
|
Senior Secured Revolving Loan |
|
S+ |
|
5.50% |
|
9.18% |
|
3/28/2030 |
|
Services: Consumer |
|
|
— |
|
|
|
14,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
33,983,424 |
|
|
$ |
35,365,597 |
|
Unfunded commitments represent all amounts unfunded as of March 31, 2026 and December 31, 2025. These amounts may or may not be funded to the borrowing party now or in the future.
|