v3.26.1
Consolidated Schedule of Investments (Unaudited) - USD ($)
Jun. 30, 2026
Sep. 30, 2025
Investment, Identifier [Axis]: Affiliated Investment - Advocates for Disabled Vets, LLC - Fairlong RFV Holdings LLC    
Par Amount/ Shares/Units [1],[2],[3] $ 12,660,925  
Amortized Cost [1],[3],[4] 12,510,592  
Fair Value [1],[3],[5] $ 10,965,544  
% of Net Assets [1],[3],[6] 6.94%  
Investment, Identifier [Axis]: Affiliated Investments    
Par Amount/ Shares/Units $ 33,216,736 [1],[2],[3] $ 29,880,927 [7],[8],[9]
Amortized Cost 38,802,355 [1],[3],[4] 35,390,223 [7],[9],[10]
Fair Value $ 36,682,577 [1],[3],[5] $ 35,381,405 [7],[9],[11]
% of Net Assets 23.24% [1],[3],[6] 22.01% [7],[9],[12]
Investment, Identifier [Axis]: Affiliated Investments - Advocates for Disabled Vets, LLC (dba Reps for Vets)    
Par Amount/ Shares/Units [7],[8],[9]   $ 12,307,500
Amortized Cost [7],[9],[10]   12,145,471
Fair Value [7],[9],[11]   $ 12,158,024
% of Net Assets [7],[9],[12]   7.56%
Investment, Identifier [Axis]: Affiliated Investments - Advocates for Disabled Vets, LLC (dba Reps for Vets) - Services: Consumer - Equity    
Par Amount/ Shares/Units [7],[8],[9]   $ 3,375,000
Amortized Cost [7],[9],[10]   3,375,000
Fair Value [7],[9],[11]   $ 3,359,511
% of Net Assets [7],[9],[12]   2.09%
Investment, Identifier [Axis]: Affiliated Investments - Advocates for Disabled Vets, LLC (dba Reps for Vets) - Services: Consumer - Senior Secured Delayed Draw Term Loan (14.00%)    
Maturity [1],[3],[13],[14] Aug. 29, 2029  
Par Amount/ Shares/Units [1],[3],[13],[14] $ 225,000  
Amortized Cost [1],[3],[4],[13] 225,132  
Fair Value [1],[3],[5],[13] $ 221,625  
% of Net Assets [1],[3],[6],[13],[14] 0.14%  
Investment, Identifier [Axis]: Affiliated Investments - Advocates for Disabled Vets, LLC (dba Reps for Vets) - Services: Consumer - Senior Secured First Lien Term Loan    
Maturity [7],[9]   Mar. 07, 2030
Par Amount/ Shares/Units [7],[8],[9]   $ 8,932,500
Amortized Cost [7],[9],[10]   8,770,471
Fair Value [7],[9],[11]   $ 8,798,513
% of Net Assets [7],[9],[12]   5.47%
Investment, Identifier [Axis]: Affiliated Investments - Advocates for Disabled Vets, LLC (dba Reps for Vets) - Services: Consumer - Senior Secured First Lien Term Loan (10.00% + 4.00% PIK)    
Maturity [1],[3] Mar. 07, 2030  
Par Amount/ Shares/Units [1],[2],[3] $ 8,950,485  
Amortized Cost [1],[3],[4] 8,811,064  
Fair Value [1],[3],[5] $ 8,245,634  
% of Net Assets [1],[3],[6] 5.22%  
Investment, Identifier [Axis]: Affiliated Investments - FST Holdings Parent, LLC    
Par Amount/ Shares/Units $ 625,548 [1],[2],[3] $ 625,548 [7],[8],[9]
Amortized Cost 10,008,289 [1],[3],[4] 10,008,289 [7],[9],[10]
Fair Value $ 12,956,608 [1],[3],[5] $ 10,960,741 [7],[9],[11]
% of Net Assets 8.22% [1],[3],[6] 6.82% [7],[9],[12]
Investment, Identifier [Axis]: Affiliated Investments - FST Holdings Parent, LLC - High Tech Industries - Equity    
Par Amount/ Shares/Units $ 625,548 [1],[2],[3],[15] $ 625,548 [7],[8],[9]
Amortized Cost 10,008,289 [1],[3],[4],[15] 10,008,289 [7],[9],[10]
Fair Value $ 12,956,608 [1],[3],[5],[15] $ 10,960,741 [7],[9],[11]
% of Net Assets 8.22% [1],[3],[6],[15] 6.82% [7],[9]
Investment, Identifier [Axis]: Affiliated Investments - Fairlong RFV Holdings LLC - Equity    
Par Amount/ Shares/Units [1],[2],[3],[16] $ 3,375,000  
Amortized Cost [1],[3],[4],[15] 3,375,000  
Fair Value [1],[3],[5],[15] $ 2,398,889  
% of Net Assets [1],[3],[6],[15] 1.52%  
Investment, Identifier [Axis]: Affiliated Investments - Fairlong RFV Holdings LLC - Preferred Equity    
Par Amount/ Shares/Units [1],[2],[3],[16] $ 110,440  
Amortized Cost [1],[3],[4],[16] 99,396  
Fair Value [1],[3],[5],[16] $ 99,396  
% of Net Assets [1],[3],[6],[16] 0.06%  
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC    
Par Amount/ Shares/Units $ 19,930,263 [1],[2],[3] $ 16,947,879 [7],[8],[9]
Amortized Cost 16,283,474 [1],[3],[4] 13,236,463 [7],[9],[10]
Fair Value $ 12,760,425 [1],[3],[5] $ 12,262,640 [7],[9],[11]
% of Net Assets 8.08% [1],[3],[6] 7.63% [7],[9],[12]
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Equity - Class E Preferred Units    
Par Amount/ Shares/Units $ 4,751,435 [1],[2],[3],[16],[17] $ 4,106,076 [7],[8],[9],[18],[19]
Amortized Cost 3,823,700 [1],[3],[4],[16],[17] 3,167,157 [7],[9],[10],[18],[19]
Fair Value $ 2,007,481 [1],[3],[5],[16],[17] $ 2,725,408 [7],[9],[11],[18],[19]
% of Net Assets 1.27% [1],[3],[6],[16],[17] 1.70% [7],[9],[12],[18],[19]
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Senior Secured 6th Amendment Term loan    
Maturity [1],[3],[14],[17],[20],[21],[22] Oct. 01, 2028  
Par Amount/ Shares/Units [1],[2],[3],[14],[17],[20],[21],[22] $ 2,193,797  
Amortized Cost [1],[3],[4],[14],[17],[20],[21],[22] 2,179,823  
Fair Value [1],[3],[5],[14],[17],[20],[21],[22] $ 1,988,129  
% of Net Assets [1],[3],[6],[14],[17],[20],[21],[22] 1.26%  
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Senior Secured Delayed Draw Term Loan    
Maturity Oct. 01, 2028 [1],[3],[14],[17],[20],[21] Oct. 01, 2028 [7],[9]
Par Amount/ Shares/Units $ 2,847,566 [1],[2],[3],[14],[15],[17],[20],[21] $ 505,470 [7],[8],[9]
Amortized Cost 2,779,299 [1],[3],[4],[14],[17],[20],[21] 468,621 [7],[9],[10]
Fair Value $ 2,641,118 [1],[3],[5],[14],[17],[20],[21] $ 490,306 [7],[9],[11]
% of Net Assets 1.67% [1],[3],[6],[14],[15],[17],[20],[21] 0.30% [7],[9],[12]
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Senior Secured First Lien Revolver    
Maturity [7],[9],[19],[23],[24],[25]   Sep. 30, 2028
Par Amount/ Shares/Units [7],[8],[9],[19],[23],[24],[25],[26]   $ 2,112,671
Amortized Cost [7],[9],[10],[19],[23],[24],[25],[26]   2,077,048
Fair Value [7],[9],[11],[19],[23],[24],[25],[26]   $ 1,975,347
% of Net Assets [7],[9],[12],[19],[23],[24],[25],[26]   1.23%
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Senior Secured First Lien Term Loan    
Maturity Oct. 01, 2028 [1],[3],[20],[21] Sep. 30, 2028 [7],[9]
Par Amount/ Shares/Units $ 6,757,183 [1],[2],[3],[17],[20],[21] $ 6,843,380 [7],[8],[9]
Amortized Cost 6,673,243 [1],[3],[4],[17],[20],[21] 6,696,228 [7],[9],[10]
Fair Value $ 6,123,697 [1],[3],[5],[17],[20],[21] $ 6,398,561 [7],[9],[11]
% of Net Assets 3.88% [1],[3],[17],[20],[21] 3.98% [7],[9],[12]
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Warrants - Outstanding Equity    
Par Amount/ Shares/Units [1],[2],[3],[16] $ 3,380,282  
Amortized Cost [1],[3],[4],[16] 827,409  
Fair Value [1],[3],[5],[16]  
% of Net Assets [1],[3],[6],[16] 0.00%  
Investment, Identifier [Axis]: Affiliated Investments - MB Precision Investment Holdings LLC - Aerospace & Defense - Warrants of Outstanding Equity    
Par Amount/ Shares/Units [7],[8],[9]   $ 3,380,282
Amortized Cost [7],[9],[10]   827,409
Fair Value [7],[9],[11]   $ 673,018
% of Net Assets [7],[9],[12]   0.42%
Investment, Identifier [Axis]: Controlled Investments    
Par Amount/ Shares/Units $ 165,965,351 [2],[3],[27] $ 166,237,352 [8],[9],[28]
Amortized Cost 155,112,950 [3],[4],[27] 149,656,451 [9],[10],[28]
Fair Value $ 128,535,521 [3],[5],[27] $ 121,610,914 [9],[11],[28]
% of Net Assets 81.42% [3],[6],[27] 75.65% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - ECC Capital Corp.    
Par Amount/ Shares/Units $ 90,997,012 [2],[3],[27] $ 90,997,012 [8],[9],[28]
Amortized Cost 11,254,014 [3],[4],[27] 11,254,014 [9],[10],[28]
Fair Value $ 14,557,012 [3],[5],[27] $ 13,633,012 [9],[11],[28]
% of Net Assets 9.22% [3],[6],[27] 8.48% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - ECC Capital Corp. - Real Estate - Equity    
Par Amount/ Shares/Units $ 84,000,000 [2],[3],[16],[27],[29] $ 84,000,000 [8],[9],[18],[28],[30]
Amortized Cost 4,257,002 [3],[4],[16],[27],[29] 4,257,002 [9],[10],[18],[28],[30]
Fair Value $ 7,560,000 [3],[5],[16],[27],[29] $ 6,636,000 [9],[11],[18],[28],[30]
% of Net Assets 4.79% [3],[6],[16],[27],[29] 4.13% [9],[12],[18],[28],[30]
Investment, Identifier [Axis]: Controlled Investments - ECC Capital Corp. - Real Estate - Senior Secured Promissory Note    
Maturity Dec. 31, 2031 [3],[21],[27] Dec. 31, 2031 [9],[24],[28]
Par Amount/ Shares/Units $ 6,997,012 [2],[3],[21],[27] $ 6,997,012 [8],[9],[24],[28]
Amortized Cost 6,997,012 [3],[4],[21],[27] 6,997,012 [9],[10],[24],[28]
Fair Value $ 6,997,012 [3],[5],[21],[27] $ 6,997,012 [9],[11],[24],[28]
% of Net Assets 4.43% [3],[6],[21],[27] 4.35% [9],[12],[24],[28]
Investment, Identifier [Axis]: Controlled Investments - FlexFIN, LLC    
Par Amount/ Shares/Units [8],[9],[28]   $ 37,180,761
Amortized Cost [9],[10],[28]   37,180,761
Fair Value [9],[11],[28]   $ 37,180,761
% of Net Assets [9],[12],[28]   23.13%
Investment, Identifier [Axis]: Controlled Investments - FlexFIN, LLC - Services: Business - Equity Interest    
Par Amount/ Shares/Units $ 35,308,760 [2],[3],[27] $ 37,180,761 [8],[9],[28]
Amortized Cost 34,562,960 [3],[4],[27] 37,180,761 [9],[10],[28]
Fair Value $ 35,308,760 [3],[5],[27] $ 37,180,761 [9],[11],[28]
% of Net Assets 22.37% [3],[6],[27] 23.13% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - NSG Captive, Inc.    
Par Amount/ Shares/Units $ 100,000 [2],[3],[27] $ 100,000 [8],[9],[28]
Amortized Cost 55,729,376 [3],[4],[27] 49,255,076 [9],[10],[28]
Fair Value $ 58,515,918 [3],[5],[27] $ 48,469,540 [9],[11],[28]
% of Net Assets 37.06% [3],[6],[27] 30.15% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - NSG Captive, Inc. - Insurance - Equity    
Par Amount/ Shares/Units [8],[9],[28]   $ 100,000
Amortized Cost [9],[10],[28]   49,255,076
Fair Value [9],[11],[28]   $ 48,469,540
% of Net Assets [9],[12],[28]   30.15%
Investment, Identifier [Axis]: Controlled Investments - NSG Captive, Inc. - Insurance - Preferred Equity    
Par Amount/ Shares/Units [2],[3],[16],[27],[31] $ 100,000  
Amortized Cost [3],[4],[16],[27],[31] 55,729,376  
Fair Value [3],[5],[16],[27],[31] $ 58,515,918  
% of Net Assets [3],[6],[16],[27],[31] 37.06%  
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC    
Par Amount/ Shares/Units $ 39,559,579 [2],[3],[27] $ 37,959,579 [8],[9],[28]
Amortized Cost 53,566,600 [3],[4],[27] 51,966,600 [9],[10],[28]
Fair Value $ 20,153,831 [3],[5],[27] $ 22,327,601 [9],[11],[28]
% of Net Assets 12.77% [3],[6],[27] 13.89% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC - Hotel, Gaming & Leisure - Equity - Class A Units    
Par Amount/ Shares/Units $ 1,000 [2],[3],[16],[27] $ 1,000 [9],[18],[28]
Amortized Cost 21,450,924 [3],[4],[16],[27] 21,450,924 [9],[10],[28]
Fair Value [3],[5],[16],[27] [9],[11],[28]
% of Net Assets 0.00% [3],[6],[16],[27] 0.00% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC - Hotel, Gaming & Leisure - Senior Secured First Lien Term Loan B    
Maturity Dec. 31, 2029 [3],[27],[32] Dec. 31, 2026 [9],[28],[33]
Par Amount/ Shares/Units $ 17,552,420 [2],[3],[27],[32] $ 17,552,420 [8],[9],[28],[33]
Amortized Cost 13,916,082 [3],[4],[27],[32] 13,916,082 [9],[10],[28],[33]
Fair Value $ 9,653,831 [3],[5],[27],[32] $ 13,427,601 [9],[11],[28],[33]
% of Net Assets 6.12% [3],[6],[27],[32] 8.35% [9],[12],[28],[33]
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC - Hotel, Gaming & Leisure - Senior Secured First Lien Term Loan C    
Maturity Dec. 31, 2029 [3],[21],[27],[34] Dec. 31, 2026 [9],[28]
Par Amount/ Shares/Units $ 11,506,159 [2],[3],[21],[27],[34] $ 11,506,159 [8],[9],[28]
Amortized Cost 7,570,055 [3],[4],[21],[27],[34] 7,570,055 [9],[10],[28]
Fair Value [3],[5],[21],[27],[34] [9],[11],[28]
% of Net Assets 0.00% [3],[6],[21],[27],[34] 0.00% [9],[12],[28]
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC - Hotel, Gaming & Leisure - Senior Secured First Lien Term Loan D    
Maturity [3],[21],[27] Dec. 31, 2029  
Par Amount/ Shares/Units [2],[3],[21],[27] $ 9,850,000  
Amortized Cost [3],[4],[21],[27] 9,979,539  
Fair Value [3],[5],[21],[27] $ 9,850,000  
% of Net Assets [3],[6],[21],[27] 6.24%  
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC - Hotel, Gaming & Leisure - Senior Secured Revolving Note    
Maturity [9],[28],[35]   Dec. 31, 2026
Par Amount/ Shares/Units [8],[9],[28],[35]   $ 8,900,000
Amortized Cost [9],[10],[28],[35]   9,029,539
Fair Value [9],[11],[28],[35]   $ 8,900,000
% of Net Assets [9],[12],[28],[35]   5.54%
Investment, Identifier [Axis]: Controlled Investments - NVTN LLC - NVTN LLC - Hotel, Gaming & Leisure - Senior Secured Revolving Note    
Maturity [3],[21],[27] Dec. 31, 2029  
Par Amount/ Shares/Units [2],[3],[21],[27] $ 650,000  
Amortized Cost [3],[4],[21],[27] 650,000  
Fair Value [3],[5],[21],[27] $ 650,000  
% of Net Assets [3],[6],[21],[27] 0.41%  
Investment, Identifier [Axis]: FlexFIN, LLC    
Par Amount/ Shares/Units [2],[3],[27] $ 35,308,760  
Amortized Cost [3],[4],[27] 34,562,960  
Fair Value [3],[5],[27] $ 35,308,760  
% of Net Assets [3],[6],[27] 22.37%  
Investment, Identifier [Axis]: Investments    
Par Amount/ Shares/Units $ 307,304,493 [2],[3],[27] $ 300,530,345 [8],[9],[28]
Amortized Cost 327,414,128 [3],[4],[27] 324,389,165 [9],[10],[28]
Fair Value $ 301,637,310 [3],[5],[27] $ 302,272,488 [9],[11],[28]
% of Net Assets 191.08% [3],[6],[27] 188.01% [9],[12],[28]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments    
Par Amount/ Shares/Units $ 108,122,406 [2],[3] $ 104,412,066 [8],[9]
Amortized Cost 133,498,823 [3],[4] 139,342,491 [9],[10]
Fair Value $ 136,419,212 [3],[5] $ 145,280,169 [9],[11]
% of Net Assets 86.42% [3],[6] 90.35% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Adamas Trust, Inc    
Par Amount/ Shares/Units [8],[9],[36]   $ 238,712
Amortized Cost [9],[10],[36]   5,885,875
Fair Value [9],[11],[36]   $ 5,957,794
% of Net Assets [9],[12],[36]   3.69%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Adamas Trust, Inc.    
Par Amount/ Shares/Units [2],[3],[37] $ 61,733  
Amortized Cost [3],[4],[37] 1,478,902  
Fair Value [3],[5],[37] $ 1,544,947  
% of Net Assets [3],[6],[37] 0.98%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Adamas Trust, Inc. - Real Estate - Equity - Class E Preferred Units    
Par Amount/ Shares/Units $ 44,490 [2],[3],[21],[29],[37] $ 221,469 [8],[9],[24],[30],[36]
Amortized Cost 1,103,267 [3],[4],[21],[29],[37] 5,510,240 [9],[10],[24],[30],[36]
Fair Value $ 1,125,597 [3],[5],[21],[29],[37] $ 5,565,516 [9],[11],[24],[30],[36]
% of Net Assets 0.71% [3],[6],[21],[29],[37] 3.45% [9],[12],[24],[30],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Adamas Trust, Inc. - Real Estate - Equity - Class F Preferred Units    
Par Amount/ Shares/Units $ 17,243 [2],[3],[29],[37],[38] $ 17,243 [8],[9],[30],[36],[39]
Amortized Cost 375,635 [3],[4],[29],[37],[38] 375,635 [9],[10],[30],[36],[39]
Fair Value $ 419,350 [3],[5],[29],[37],[38] $ 392,278 [9],[11],[30],[36],[39]
% of Net Assets 0.27% [3],[6],[29],[37],[38] 0.24% [9],[10],[30],[36],[39]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Altisource S.A.R.L.    
Par Amount/ Shares/Units $ 8,768,980 [2],[3],[37] $ 8,810,584 [28],[32],[40]
Amortized Cost 13,520,476 [3],[4],[37] 13,057,133 [28],[40]
Fair Value $ 12,538,631 [3],[5],[37] $ 14,844,781 [28],[40]
% of Net Assets 7.95% [3],[6],[37] 9.24% [9],[28],[40]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Altisource S.A.R.L. - Services: Business - Equity    
Par Amount/ Shares/Units $ 547,179 [2],[3],[16],[29],[37] $ 547,180 [8],[9],[18],[30],[36]
Amortized Cost 3,327,903 [3],[4],[16],[29],[37] 3,327,909 [9],[10],[18],[30],[36]
Fair Value $ 4,103,843 [3],[5],[16],[29],[37] $ 6,380,119 [9],[11],[18],[30]
% of Net Assets 2.60% [3],[6],[16],[29],[37] 3.97% [9],[12],[18],[30],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Altisource S.A.R.L. - Services: Business - Senior Secured First Lien Term Loan B    
Maturity Apr. 30, 2030 [3],[20],[21],[37],[41] Apr. 30, 2030 [9],[19],[23],[24],[36],[42]
Par Amount/ Shares/Units $ 7,999,115 [2],[3],[20],[21],[37],[41] $ 8,040,718 [8],[9],[19],[23],[24],[36],[42]
Amortized Cost 8,923,358 [3],[4],[20],[21],[37],[41] 8,460,009 [9],[10],[19],[23],[24],[36],[42]
Fair Value $ 8,359,075 [3],[5],[20],[21],[37],[41] $ 8,322,143 [9],[11],[19],[23],[24],[36],[42]
% of Net Assets 5.30% [3],[6],[20],[21],[37],[41] 5.18% [9],[12],[19],[23],[24],[36],[42]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Altisource S.A.R.L. - Services: Business - Warrants    
Maturity Apr. 02, 2029 [3],[16],[29],[37] Apr. 02, 2029 [9],[18],[30],[36]
Par Amount/ Shares/Units $ 111,343 [2],[3],[16],[29],[37] $ 111,343 [8],[9],[18],[30],[36]
Amortized Cost 647,105 [3],[4],[16],[29],[37] 647,105 [9],[10],[18],[30],[36]
Fair Value $ 44,537 [3],[5],[16],[29],[37] $ 77,940 [28],[40],[42],[43]
% of Net Assets 0.03% [3],[6],[16],[29],[37] 0.05% [9],[28],[40],[42],[43]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Altisource S.A.R.L. - Services: Business - Warrants - One    
Maturity Apr. 30, 2032 [3],[16],[29],[37] Apr. 30, 2032 [28],[40],[42],[43]
Par Amount/ Shares/Units $ 111,343 [2],[3],[16],[29],[37] $ 111,343 [28],[32],[40],[42],[43]
Amortized Cost 622,110 [3],[4],[16],[29],[37] 622,110 [28],[40],[42],[43]
Fair Value $ 31,176 [3],[5],[16],[29],[37] $ 64,579 [28],[40],[42],[43]
% of Net Assets 0.02% [3],[6],[16],[29],[37] 0.04% [9],[28],[40],[42],[43]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Arora Engineers, LLC - Arora Holdings, LLC - Jacmel Arora, LLC    
Par Amount/ Shares/Units [2],[3] $ 13,540,506  
Amortized Cost [3],[4] 12,505,478  
Fair Value [3],[5] $ 12,626,389  
% of Net Assets [3],[6] 8.00%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Arora Engineers, LLC - Construction & Building - First Lien Term Loan    
Maturity [3],[17] Dec. 30, 2030  
Par Amount/ Shares/Units [2],[3],[13] $ 9,628,125  
Amortized Cost [3],[4],[13] 9,449,978  
Fair Value [3],[5],[13] $ 9,387,422  
% of Net Assets [3],[6],[13] 5.95%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Arora Engineers, LLC - Construction & Building - Warrants    
Par Amount/ Shares/Units [2],[3],[16] $ 444,382  
Amortized Cost [3],[4],[16] 870,125  
Fair Value [3],[5],[16] $ 802,585  
% of Net Assets [3],[6],[13] 0.51%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Boostability Seotowncenter, Inc.    
Par Amount/ Shares/Units [9]   $ 833,152
Amortized Cost [9]   66,475
Fair Value [9]  
% of Net Assets [9]   0.00%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Boostability Seotowncenter, Inc. - Services: Business - Equity - Common Units    
Par Amount/ Shares/Units [8],[9],[18]   $ 833,152
Amortized Cost [9],[10],[18]   66,475
Fair Value [9],[11],[18]  
% of Net Assets [9],[12],[18]   0.00%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - CB&L Associates Holdco I, LLC    
Par Amount/ Shares/Units [28],[32],[40]   $ 2,879,525
Amortized Cost [28],[40]   2,419,049
Fair Value [28],[40]   $ 2,753,546
% of Net Assets [9],[28],[40]   1.71%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - CB&L Associates Holdco I, LLC - Real Estate - First Lien Term Loan    
Maturity [18],[28],[30],[32],[40],[44],[45],[46]   Nov. 01, 2025
Par Amount/ Shares/Units [18],[28],[30],[32],[40],[44],[45],[46]   $ 2,879,525
Amortized Cost [18],[28],[30],[40],[44],[45],[46]   2,419,049
Fair Value [18],[28],[30],[40],[44],[45],[46]   $ 2,753,546
% of Net Assets [9],[18],[28],[30],[40],[44],[45],[46]   1.71%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Chimera Investment Corp.    
Par Amount/ Shares/Units [8],[9],[36]   $ 177,843
Amortized Cost [9],[10],[36]   4,271,503
Fair Value [9],[11],[36]   $ 4,134,045
% of Net Assets [9],[12],[36]   2.57%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Chimera Investment Corp. - Real Estate - Equity - Class B Preferred Units    
Par Amount/ Shares/Units [8],[9],[24],[30],[36]   $ 26,133
Amortized Cost [9],[24],[30],[36]   635,531
Fair Value [9],[11],[24],[30],[36]   $ 629,544
% of Net Assets [9],[12],[24],[30]   0.39%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Chimera Investment Corp. - Real Estate - Equity - Class C Preferred Units    
Par Amount/ Shares/Units [8],[9],[30],[36],[45]   $ 151,710
Amortized Cost [8],[9],[10],[30],[36],[45]   3,635,972
Fair Value [9],[11],[30],[36],[45]   $ 3,504,501
% of Net Assets [9],[12],[30],[36],[45]   2.18%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Compass Diversified Holdings    
Par Amount/ Shares/Units [8],[9],[36]   $ 22,049
Amortized Cost [9],[10],[36]   381,008
Fair Value [9],[11],[36]   $ 405,702
% of Net Assets [9],[12],[36]   0.25%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Compass Diversified Holdings - Real Estate - Equity - Series C Preferred Units    
Par Amount/ Shares/Units [8],[9],[30],[36],[47]   $ 22,049
Amortized Cost [9],[10],[30],[36],[47]   381,008
Fair Value [9],[11],[30],[36],[47]   $ 405,702
% of Net Assets [9],[12],[30],[36],[47]   0.25%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Copper Property CTL Pass Through Trust    
Par Amount/ Shares/Units $ 437,795 [2],[3] $ 637,795 [8],[9],[30]
Amortized Cost 4,324,211 [3],[4] 7,200,434 [9],[10],[30]
Fair Value $ 4,771,966 [3],[5] $ 7,915,036 [9],[11],[30]
% of Net Assets 3.02% [3],[6] 4.92% [9],[12],[30]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Copper Property CTL Pass Through Trust - Real Estate - Equity Certificates    
Par Amount/ Shares/Units $ 437,795 [2],[3],[29] $ 637,795 [8],[9],[30]
Amortized Cost 4,324,211 [3],[4],[29] 7,200,434 [9],[10],[30]
Fair Value $ 4,771,966 [3],[5],[29] $ 7,915,036 [9],[11],[30]
% of Net Assets 3.02% [3],[6],[29] 4.92% [9],[12],[30]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Franklin BSP Realty Trust, Inc.    
Par Amount/ Shares/Units [8],[32],[36]   $ 50,000
Amortized Cost [10],[36]   498,155
Fair Value [11],[36]   $ 543,000
% of Net Assets [9],[12],[36]   0.34%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Franklin BSP Realty Trust, Inc. - Real Estate - Equity - Common Units    
Par Amount/ Shares/Units [8],[9],[36]   $ 50,000
Amortized Cost [9],[10],[36]   498,155
Fair Value [9],[11],[36]   $ 543,000
% of Net Assets [9],[12],[36]   0.34%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Innovate Corp.    
Par Amount/ Shares/Units $ 4,797,426 [2],[3],[37] $ 4,558,125 [8],[9],[36]
Amortized Cost 4,262,089 [3],[4],[37] 4,022,788 [9],[10],[36]
Fair Value $ 4,209,741 [3],[5],[37] $ 4,033,941 [9],[11],[36]
% of Net Assets 2.67% [3],[6],[37] 2.51% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Innovate Corp. - Construction & Building - Senior Secured Notes    
Maturity Feb. 01, 2027 [3],[37],[41] Feb. 01, 2027 [9],[36]
Par Amount/ Shares/Units $ 4,797,426 [2],[3],[37],[41] $ 4,558,125 [8],[9],[36]
Amortized Cost 4,262,089 [3],[4],[37],[41] 4,022,788 [9],[10],[36]
Fair Value $ 4,209,741 [3],[5],[37],[41] $ 4,033,941 [9],[11],[36]
% of Net Assets 2.67% [3],[6],[37],[41] 2.51% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Invesco Mortgage Capital, Inc.    
Par Amount/ Shares/Units $ 180,000 [2],[3],[37] $ 180,000 [8],[9],[36]
Amortized Cost 1,411,789 [3],[4],[37] 1,411,789 [9],[10],[36]
Fair Value $ 1,422,000 [3],[5],[37] $ 1,360,800 [9],[11],[36]
% of Net Assets 0.90% [3],[6],[37] 0.85% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Invesco Mortgage Capital, Inc. - Real Estate - Equity - Common Units    
Par Amount/ Shares/Units $ 180,000 [2],[3],[29],[37] $ 180,000 [8],[9],[36]
Amortized Cost 1,411,789 [3],[4],[29],[37] 1,411,789 [9],[10],[36]
Fair Value $ 1,422,000 [3],[5],[29],[37] $ 1,360,800 [9],[11],[36]
% of Net Assets 0.90% [3],[6],[29],[37] 0.85% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - JFL-NGS-WCS Partners, LLC    
Par Amount/ Shares/Units [2],[3] $ 10,000,000  
Amortized Cost [3],[4] 10,000,000  
Fair Value [3],[5] $ 14,000,000  
% of Net Assets [3],[6] 8.87%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - JFL-NGS-WCS Partners, LLC - Construction & Building - Equity    
Par Amount/ Shares/Units $ 10,000,000 [2],[3],[16] $ 10,000,000 [8],[9]
Amortized Cost 10,000,000 [3],[4],[16] 10,000,000 [9],[10]
Fair Value $ 14,000,000 [3],[5],[16] $ 13,100,000 [9],[42]
% of Net Assets 8.87% [3],[6],[16] 8.15% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Jacmel Arora, LLC - Equity    
Par Amount/ Shares/Units [2],[3],[16] $ 3,377,999  
Amortized Cost [3],[4],[16] 2,185,375  
Fair Value [3],[5],[16] $ 2,436,382  
% of Net Assets [3],[6],[16] 1.54%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Kemmerer Operations, LLC    
Par Amount/ Shares/Units [8],[9]   $ 8,762,782
Amortized Cost [9],[10]   8,762,782
Fair Value [9],[11]   $ 8,762,782
% of Net Assets [9],[12]   5.45%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Kemmerer Operations, LLC - Metals & Mining - Senior Secured First Lien Term Loan    
Maturity [9]   Dec. 31, 2028
Par Amount/ Shares/Units [8],[9]   $ 8,762,782
Amortized Cost [9],[10]   8,762,782
Fair Value [9],[11]   $ 8,762,782
% of Net Assets [9],[12]   5.45%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - LB NewHoldCo, LLC - Consumer Discretionary - Equity - Membership Units    
Par Amount/ Shares/Units $ 230,739 [2],[3],[16] $ 230,739 [8],[9]
Amortized Cost 449,393 [3],[4],[16] 449,393 [9],[10]
Fair Value [3],[5],[16] $ 994,485 [9],[11]
% of Net Assets 0.00% [2],[6],[16] 0.62% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Lucky Bucks, LLC (dba Arc Gaming & Technologies LLC) - Consumer Discretionary - Priority First Out Exit Term Loan    
Maturity Oct. 02, 2028 [3],[20],[21] Oct. 02, 2028 [9]
Par Amount/ Shares/Units $ 1,650,120 [2],[3],[20],[21] $ 1,514,302 [8],[9]
Amortized Cost 1,547,132 [3],[4],[20],[21] 1,410,541 [9],[10]
Fair Value $ 1,584,115 [3],[5],[20],[21] $ 1,514,302 [9],[11]
% of Net Assets 1.00% [3],[6],[20],[21] 0.94% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Lucky Bucks, LLC (dba Arc Gaming & Technologies LLC) - Consumer Discretionary - Priority Second Out Term Loan    
Maturity Oct. 02, 2029 [3],[20],[21] Oct. 02, 2029 [9]
Par Amount/ Shares/Units $ 2,368,157 [2],[3],[20],[21] $ 2,143,683 [8],[9]
Amortized Cost 2,223,630 [3],[4],[20],[21] 1,998,121 [9],[10]
Fair Value $ 1,373,531 [3],[5],[20],[21] $ 1,993,625 [9],[11]
% of Net Assets 0.87% [3],[6],[20],[21] 1.24% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Lucky Bucks, LLC (dba Arc Gaming & Technologies LLC) - LB NewHoldCo, LLC    
Par Amount/ Shares/Units $ 4,249,016 [2],[3] $ 3,888,724 [8],[9]
Amortized Cost 4,220,155 [3],[4] 3,858,055 [9],[10]
Fair Value $ 2,957,646 [3],[5] $ 4,502,412 [9],[11]
% of Net Assets 1.87% [3],[6] 2.80% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - MFA Financial, Inc.    
Par Amount/ Shares/Units $ 149,493 [2],[3],[37] $ 184,695 [8],[9],[36]
Amortized Cost 2,007,982 [3],[4],[37] 3,515,573 [9],[10],[36]
Fair Value $ 1,955,282 [3],[5],[37] $ 3,381,070 [9],[11],[36]
% of Net Assets 1.24% [3],[6],[37] 2.10% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - MFA Financial, Inc. - Real Estate - Equity - Class C Preferred Units    
Par Amount/ Shares/Units $ 39,493 [2],[3],[21],[29],[37] $ 114,695 [8],[9],[36]
Amortized Cost 971,472 [3],[4],[21],[29],[37] 2,800,579 [9],[10],[36]
Fair Value $ 889,382 [3],[5],[21],[29],[37] $ 2,737,770 [9],[11],[36]
% of Net Assets 0.56% [3],[6],[21],[29],[37] 1.70% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - MFA Financial, Inc. - Real Estate - Equity - Common Units    
Par Amount/ Shares/Units $ 110,000 [2],[3],[29],[37] $ 70,000 [9],[36]
Amortized Cost 1,036,510 [3],[4],[29],[37] 714,994 [9],[36]
Fair Value $ 1,065,900 [3],[5],[29],[37] $ 643,300 [9],[36]
% of Net Assets 0.68% [3],[6],[29],[37] 0.40% [9],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Monitronics International, LLC    
Par Amount/ Shares/Units [2],[3] $ 1,987,392  
Amortized Cost [3],[4] 1,987,392  
Fair Value [3],[5] $ 1,977,455  
% of Net Assets [3],[6] 1.25%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Monitronics International, LLC - Services: Business - Senior Secured First Lien Term Loan    
Maturity [2],[3],[20],[21],[41] Jun. 30, 2028  
Par Amount/ Shares/Units [3],[4],[20],[21],[41] $ 1,987,392  
Amortized Cost [3],[5],[20],[21],[41] 1,987,392  
Fair Value [3],[6],[20],[21],[41] $ 1,977,455  
% of Net Assets 1.25%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - NGS-WCS Group Holdings - Construction & Building - Senior Secured First Lien Term Loan B    
Maturity [9]   May 31, 2030
Par Amount/ Shares/Units [8],[9]   $ 987,500
Amortized Cost [9],[10]   983,422
Fair Value [9],[11]   $ 997,375
% of Net Assets [9],[12]   0.62%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - NGS-WCS Group Holdings - JFL-NGS-WCS Partners, LLC    
Par Amount/ Shares/Units [8],[9]   $ 10,987,500
Amortized Cost [9],[10]   10,983,422
Fair Value [9],[11]   $ 14,097,375
% of Net Assets [9],[12]   8.77%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Neptune Bidco US, Inc. (dba Nielsen)    
Par Amount/ Shares/Units [8],[9]   $ 6,967,133
Amortized Cost [9],[10]   6,462,824
Fair Value [9],[11]   $ 6,732,486
% of Net Assets [9],[12]   4.19%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Neptune Bidco US, Inc. (dba Nielsen) - Media: Broadcasting & Subscription - First Lien Term Loan    
Maturity [9]   Apr. 11, 2029
Par Amount/ Shares/Units [8],[9]   $ 2,967,133
Amortized Cost [9],[10]   2,786,574
Fair Value [9],[11]   $ 2,822,486
% of Net Assets [9],[12]   1.76%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Neptune Bidco US, Inc. (dba Nielsen) - Media: Broadcasting & Subscription - Senior Secured Note    
Maturity [9]   Apr. 15, 2029
Par Amount/ Shares/Units [8],[9]   $ 4,000,000
Amortized Cost [9],[10]   3,676,250
Fair Value [9],[11]   $ 3,910,000
% of Net Assets [9],[12]   2.43%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Onity Group Inc.    
Par Amount/ Shares/Units $ 235,000 [2],[3] $ 200,000 [8],[9],[36]
Amortized Cost 5,273,947 [3],[4] 3,925,000 [9],[10],[36]
Fair Value $ 5,407,250 [3],[5] $ 3,948,000 [9],[11],[36]
% of Net Assets 3.42% [3],[6] 2.46% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Onity Group Inc. - Real Estate - Equity - Common Units    
Par Amount/ Shares/Units [2],[3],[29],[37] $ 35,000  
Amortized Cost [3],[4],[29],[37] 1,348,947  
Fair Value [3],[5],[29],[37] $ 1,391,250  
% of Net Assets [3],[6],[29],[37] 0.88%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Onity Group Inc. - Real Estate - Equity - Preferred Units    
Par Amount/ Shares/Units $ 200,000 [2],[3],[37],[48] $ 200,000 [8],[9],[36]
Amortized Cost 3,925,000 [3],[4],[37],[48] 3,925,000 [9],[10],[36]
Fair Value $ 4,016,000 [3],[5],[37],[48] $ 3,948,000 [9],[11],[36]
% of Net Assets 2.54% [3],[6],[37],[48] 2.46% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PHH Mortgage Corp.    
Par Amount/ Shares/Units $ 4,000,000 [2],[3] $ 2,500,000 [8],[9]
Amortized Cost 3,816,800 [3],[4] 2,343,050 [9],[10]
Fair Value $ 3,905,000 [3],[5] $ 2,515,625 [9],[11]
% of Net Assets 2.47% [3],[6] 1.56% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PHH Mortgage Corp. - Real Estate - Senior Secured Note    
Maturity Nov. 01, 2029 [3],[41] Nov. 01, 2029 [9]
Par Amount/ Shares/Units $ 4,000,000 [2],[3],[41] $ 2,500,000 [8],[9]
Amortized Cost 3,816,800 [3],[4],[41] 2,343,050 [9],[10]
Fair Value $ 3,905,000 [3],[5],[41] $ 2,515,625 [9],[11]
% of Net Assets 2.47% [3],[6],[41] 1.56% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PREIT Associates    
Par Amount/ Shares/Units $ 132,565 [2],[3] $ 129,284 [8],[9]
Amortized Cost 131,013 [3],[4] 127,307 [9],[10]
Fair Value $ 130,601 [3],[5] $ 128,857 [9],[11]
% of Net Assets 0.08% [3],[6] 0.08% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PREIT Associates - Real Estate - Senior Secured First Lien Term Loan    
Maturity Apr. 01, 2029 [3],[13],[41] Apr. 01, 2029 [9]
Par Amount/ Shares/Units $ 34,959 [2],[3],[13],[41] $ 56,201 [8],[9]
Amortized Cost 34,260 [3],[4],[13],[41] 55,077 [9],[10]
Fair Value $ 35,440 [3],[5],[13],[41] $ 57,606 [9],[11]
% of Net Assets 0.02% [3],[6],[13],[41] 0.04% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PREIT Associates - Real Estate - Senior Secured Revolving Note    
Maturity Dec. 31, 2028 [3],[13],[14] Dec. 31, 2028 [9]
Par Amount/ Shares/Units $ 97,606 [2],[3],[13],[14] $ 73,083 [8],[9]
Amortized Cost 96,753 [3],[4],[13],[14] 72,230 [9],[10]
Fair Value $ 95,161 [3],[5],[13],[14] $ 71,251 [9],[11]
% of Net Assets 0.06% [3],[6],[13],[14] 0.04% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PSB Group, LLC    
Par Amount/ Shares/Units $ 8,529,909 [2],[3] $ 5,999,755 [8],[9]
Amortized Cost 8,492,029 [3],[4] 5,973,133 [9],[10]
Fair Value $ 8,529,909 [3],[5] $ 5,999,755 [9],[11]
% of Net Assets 5.40% [3],[6] 3.73% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PSB Group, LLC - Services: Consumer - Senior Secured First Lien Revolver    
Maturity Apr. 17, 2030 [3],[13],[14],[22] Apr. 17, 2030 [9]
Par Amount/ Shares/Units [2],[3],[13],[14],[22] $ 293,137 [8],[9]
Amortized Cost [3],[4],[13],[14],[22] 293,137 [9],[10]
Fair Value [3],[5],[13],[14],[22] $ 293,137 [9],[11]
% of Net Assets 0.00% [3],[6],[13],[14],[22] 0.18% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - PSB Group, LLC - Services: Consumer - Senior Secured First Lien Term Loan    
Maturity Apr. 17, 2030 [3],[13] Apr. 17, 2030 [9]
Par Amount/ Shares/Units $ 8,529,909 [2],[3],[13] $ 5,706,618 [8],[9]
Amortized Cost 8,492,029 [3],[4],[13] 5,679,996 [9],[10]
Fair Value $ 8,529,909 [3],[5],[13] $ 5,706,618 [9],[11]
% of Net Assets 5.40% [3],[6],[13] 3.55% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Power Stop LLC    
Par Amount/ Shares/Units $ 9,627,792 [2],[3] $ 9,704,216 [8],[9]
Amortized Cost 8,441,255 [3],[4] 8,504,727 [9],[10]
Fair Value $ 8,893,673 [3],[5] $ 7,860,415 [9],[11]
% of Net Assets 5.63% [3],[6] 4.89% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Power Stop LLC - Automotive - Senior Secured First Lien Term Loan    
Maturity Jan. 26, 2029 [3],[20],[21],[41] Jan. 26, 2029 [9]
Par Amount/ Shares/Units $ 9,627,792 [2],[3],[20],[21],[41] $ 9,704,216 [8],[9]
Amortized Cost 8,441,255 [3],[4],[20],[21],[41] 8,504,727 [9],[10]
Fair Value $ 8,893,673 [3],[5],[20],[21],[41] $ 7,860,415 [9],[11]
% of Net Assets 5.63% [3],[6],[20],[21],[41] 4.89% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Redwood Trust Inc.    
Par Amount/ Shares/Units $ 310,000 [2],[3],[37] $ 165,000 [8],[9],[36]
Amortized Cost 1,789,262 [3],[4],[37] 1,012,942 [9],[10],[36]
Fair Value $ 1,469,400 [3],[5],[37] $ 955,350 [9],[11],[36]
% of Net Assets 0.93% [3],[6],[37] 0.59% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Redwood Trust Inc. - Real Estate - Equity - Common Units    
Par Amount/ Shares/Units $ 310,000 [2],[3],[29],[37] $ 165,000 [8],[9],[36]
Amortized Cost 1,789,262 [3],[4],[29],[37] 1,012,942 [9],[10],[36]
Fair Value $ 1,469,400 [3],[5],[29],[37] $ 955,350 [9],[11],[36]
% of Net Assets 0.93% [3],[6],[29],[37] 0.59% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Revolt Media and TV, LLC    
Par Amount/ Shares/Units [2],[3] $ 7,750,000  
Amortized Cost [3],[4] 7,440,913  
Fair Value [3],[5] $ 7,440,000  
% of Net Assets [3],[6] 4.71%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Revolt Media and TV, LLC - Media: Broadcasting & Subscription - Senior Secured First Lien Term Loan    
Maturity [2],[3],[13],[20] Jul. 31, 2029  
Par Amount/ Shares/Units [3],[4],[13],[20] $ 7,750,000  
Amortized Cost [3],[5],[13],[20] 7,440,913  
Fair Value [3],[6],[13],[20] $ 7,440,000  
% of Net Assets 4.71%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - SS Acquisition, LLC (dba Soccer Shots Franchising)    
Par Amount/ Shares/Units $ 13,767,857 [2],[3] $ 13,869,643 [8],[9]
Amortized Cost 13,711,882 [3],[4] 13,804,028 [9],[10]
Fair Value $ 13,767,857 [3],[5] $ 13,869,643 [9],[11]
% of Net Assets 8.72% [3],[6] 8.63% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - SS Acquisition, LLC (dba Soccer Shots Franchising) - Services: Consumer - Senior Secured First Lien Revolver    
Maturity Dec. 20, 2029 [3],[13],[14],[22] Dec. 20, 2029 [9]
Par Amount/ Shares/Units $ 400,000 [2],[3],[13],[14],[22] $ 400,000 [8],[9]
Amortized Cost 400,000 [3],[4],[13],[14],[22] 400,000 [9],[10]
Fair Value $ 400,000 [3],[5],[13],[14],[22] $ 400,000 [9],[11]
% of Net Assets 0.25% [3],[6],[13],[14],[22] 0.25% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - SS Acquisition, LLC (dba Soccer Shots Franchising) - Services: Consumer - Senior Secured First Lien Term Loan    
Maturity Dec. 20, 2029 [3],[13] Dec. 20, 2029 [9]
Par Amount/ Shares/Units $ 13,367,857 [2],[3],[13] $ 13,469,643 [8],[9]
Amortized Cost 13,311,882 [3],[4],[13] 13,404,028 [9],[10]
Fair Value $ 13,367,857 [3],[5],[13] $ 13,469,643 [9],[11]
% of Net Assets 8.47% [3],[6],[13] 8.38% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Spotter Inc.    
Par Amount/ Shares/Units $ 466,079 [2],[3] $ 414,293 [8],[9]
Amortized Cost 6,750,003 [3],[4] 5,999,998 [9],[10]
Fair Value $ 6,626,089 [3],[5] $ 5,999,998 [9],[11]
% of Net Assets 4.20% [3],[6] 3.73% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Spotter Inc. - High Tech Industries - Equity - Series D-1 Preferred Stock    
Par Amount/ Shares/Units [8],[9]   $ 414,293
Amortized Cost [9],[10]   5,999,998
Fair Value [9],[11]   $ 5,999,998
% of Net Assets [9],[12]   3.73%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Spotter Inc. - High Tech Industries - Equity - Series E-1 Preferred Stock    
Par Amount/ Shares/Units [2],[3],[16] $ 51,786  
Amortized Cost [3],[4],[16] 750,005  
Fair Value [3],[5],[16] $ 776,272  
% of Net Assets [3],[6],[16] 0.49%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Spotter Inc. - High Tech Industries - Equity - Series E-2-D Preferred Stock    
Par Amount/ Shares/Units [2],[3],[16] $ 414,293  
Amortized Cost [3],[4],[16] 5,999,998  
Fair Value [3],[5],[16] $ 5,849,817  
% of Net Assets [3],[6],[16] 3.71%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Stancor (dba Industrial Flow Solutions Holdings, LLC)    
Par Amount/ Shares/Units $ 358,867 [2],[3] $ 358,867 [8],[9]
Amortized Cost 345,491 [3],[4] 345,491 [9],[10]
Fair Value $ 317,967 [3],[5] $ 314,132 [9],[11]
% of Net Assets 0.20% [3],[6] 0.20% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Stancor (dba Industrial Flow Solutions Holdings, LLC) - Business - Equity - Class A Units    
Par Amount/ Shares/Units [8],[9]   $ 358,867
Amortized Cost [9],[10]   345,491
Fair Value [9],[11]   $ 314,132
% of Net Assets [9],[12]   0.20%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Stancor (dba Industrial Flow Solutions Holdings, LLC) - Services: Business - Equity - Class A Units    
Par Amount/ Shares/Units [2],[3],[16] $ 358,867  
Amortized Cost [3],[4],[16] 345,491  
Fair Value [3],[5],[16] $ 317,967  
% of Net Assets [3],[6],[16] 0.20%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Staples, Inc.    
Par Amount/ Shares/Units [8],[9]   $ 3,960,000
Amortized Cost [9],[10]   3,830,925
Fair Value [9],[11]   $ 3,742,200
% of Net Assets [9],[12]   2.33%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Staples, Inc. - Services: Consumer - First Lien Term Loan    
Maturity [9]   Sep. 01, 2029
Par Amount/ Shares/Units [8],[9]   $ 3,960,000
Amortized Cost [9],[10]   3,830,925
Fair Value [9],[11]   $ 3,742,200
% of Net Assets [9],[12]   2.33%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Tamarix Capital Partners II, L.P.    
Par Amount/ Shares/Units [2],[3],[37] [8],[9],[36]
Amortized Cost 2,138,134 [3],[4],[37] 2,194,384 [9],[10],[36]
Fair Value $ 2,412,444 [3],[5],[37] $ 2,227,463 [9],[11],[36]
% of Net Assets 1.53% [3],[6],[37] 1.39% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Tamarix Capital Partners II, L.P. - Banking - Fund Investment    
Par Amount/ Shares/Units [2],[3],[14],[37],[49] [8],[9],[36]
Amortized Cost 2,138,134 [3],[4],[14],[37],[49] 2,194,384 [9],[10],[36]
Fair Value $ 2,412,444 [3],[5],[14],[37],[49] $ 2,227,463 [9],[11],[36]
% of Net Assets 1.53% [3],[6],[14],[37],[49] 1.39% [9],[12],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Thryv Holdings, Inc.    
Par Amount/ Shares/Units $ 2,025,000 [2],[3],[37] $ 2,025,000 [9],[36]
Amortized Cost 2,012,049 [3],[4],[37] 2,009,375 [9],[36]
Fair Value $ 1,984,500 [3],[5],[37] $ 2,027,531 [9],[36]
% of Net Assets 1.26% [3],[6],[37] 1.26% [9],[36]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - Thryv Holdings, Inc. - Media: Broadcasting & Subscription - Senior Secured First Lien Term Loan    
Maturity May 01, 2029 [3],[13],[37],[41] May 01, 2029 [9],[36]
Par Amount/ Shares/Units $ 2,025,000 [2],[3],[13],[37],[41] $ 2,025,000 [8],[9]
Amortized Cost 2,012,049 [3],[4],[13],[37],[41] 2,009,375 [9],[10]
Fair Value $ 1,984,500 [3],[5],[13],[37],[41] $ 2,027,531 [9],[11]
% of Net Assets 1.26% [3],[6],[13],[37],[41] 1.26% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - WHI Global, LLC    
Par Amount/ Shares/Units $ 14,202,923 [2],[3] $ 13,254,243 [8],[9]
Amortized Cost 14,794,823 [3],[4] 13,819,889 [9],[10]
Fair Value $ 14,988,584 [3],[5] $ 13,617,892 [9],[11]
% of Net Assets 9.50% [3],[6] 8.46% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - WHI Global, LLC - Aerospace & Defense - Equity - Common Shares    
Par Amount/ Shares/Units $ 350 [2],[3],[16] $ 350 [8],[9]
Amortized Cost 700,000 [3],[4],[16] 700,000 [9],[10]
Fair Value $ 885,430 [3],[5],[16] $ 483,284 [9],[11]
% of Net Assets 0.56% [3],[6],[16] 0.30% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - WHI Global, LLC - Aerospace & Defense - Senior Secured First Lien Term Loan    
Maturity Apr. 17, 2029 [3],[13],[20] Apr. 17, 2029 [9]
Par Amount/ Shares/Units $ 12,276,600 [2],[3],[13],[20] $ 12,369,840 [8],[9]
Amortized Cost 12,183,291 [3],[4],[13],[20] 12,256,814 [9],[10]
Fair Value $ 12,190,662 [3],[5],[13],[20] $ 12,258,511 [9],[11]
% of Net Assets 7.73% [3],[6],[13],[20] 7.62% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - WHI Global, LLC - Aerospace & Defense - Senior Secured Revolving Note    
Maturity Apr. 17, 2029 [3],[13],[14],[20],[22] Apr. 17, 2029 [9]
Par Amount/ Shares/Units $ 1,925,973 [2],[3],[13],[14],[20],[22] $ 884,053 [8],[9]
Amortized Cost 1,911,532 [3],[4],[13],[14],[20],[22] 863,075 [9],[10]
Fair Value $ 1,912,492 [3],[5],[13],[14],[20],[22] $ 876,097 [9],[11]
% of Net Assets 1.21% [3],[6],[13],[14],[20],[22] 0.54% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC)    
Par Amount/ Shares/Units $ 2,634,073 [2],[3] $ 2,653,146 [8],[9]
Amortized Cost 2,642,748 [3],[4] 2,655,377 [9],[10]
Fair Value $ 2,541,881 [3],[5] $ 2,648,538 [9],[11]
% of Net Assets 1.62% [3],[6] 1.65% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Services: Consumer - First Out Delayed Draw Term Loan    
Maturity Oct. 16, 2028 [3],[21] Oct. 16, 2028 [9]
Par Amount/ Shares/Units $ 30,950 [2],[3],[21] $ 30,950 [8],[9]
Amortized Cost 31,933 [3],[4],[21] 31,933 [9],[10]
Fair Value $ 29,867 [3],[5],[21] $ 31,128 [9],[11]
% of Net Assets 0.02% [3],[6],[21] 0.02% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Services: Consumer - First Out Term Loan    
Maturity Oct. 16, 2028 [3],[21] Oct. 16, 2028 [9]
Par Amount/ Shares/Units $ 599,473 [2],[3],[21] $ 618,546 [8],[9]
Amortized Cost 605,093 [3],[4],[21] 623,442 [9],[10]
Fair Value $ 578,492 [3],[5],[21] $ 618,546 [9],[11]
% of Net Assets 0.37% [3],[6],[21] 0.38% [9],[12]
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Services: Consumer - Last Out Delayed Draw Term Loan    
Maturity [3],[21] Oct. 16, 2028  
Par Amount/ Shares/Units [2],[3],[21] $ 140,082  
Amortized Cost [3],[4],[21] 140,082  
Fair Value [3],[5],[21] $ 135,179  
% of Net Assets [3],[6],[21] 0.09%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Services: Consumer - Last Out Delayed Draw Term Loan - First Out Skim    
Maturity [9]   Oct. 16, 2028
Par Amount/ Shares/Units [8],[9]   $ 140,082
Amortized Cost [9],[10]   140,082
Fair Value [9],[11]   $ 139,955
% of Net Assets [9],[12]   0.09%
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Services: Consumer - Last Out Term Loan    
Maturity [3],[21] Oct. 16, 2028  
Par Amount/ Shares/Units [2],[3],[21] $ 1,863,568  
Amortized Cost [3],[4],[21] 1,865,640  
Fair Value [3],[5],[21] $ 1,798,343  
% of Net Assets [3],[6],[21] 1.14%  
Investment, Identifier [Axis]: Non-Controlled/Non-Affiliated Investments - XYZ Roofco, LLC (dba SMC Roofing Solutions LLC) - Services: Consumer - Last Out Term Loan - First Out Skim    
Maturity [9]   Oct. 16, 2028
Par Amount/ Shares/Units [8],[9]   $ 1,863,568
Amortized Cost [9],[10]   1,859,920
Fair Value [9],[11]   $ 1,858,909
% of Net Assets [9],[12]   1.16%
[1] Affiliated Investments are defined by the 1940 Act as investments in companies in which the Company owns between 5% and 25% of outstanding voting securities or is under common control with such portfolio company.
[2] Par amount is presented for debt investments and the amount includes accumulated payment-in-kind (“PIK”) interest, as applicable, and is net of repayments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars (“$”) unless otherwise noted.
[3] Substantially all of our investments are domiciled in the United States. Certain investments also have international operations.
[4] Net unrealized depreciation for U.S. federal income tax purposes totaled $(25,776,818). The tax cost basis of investments is $327,414,128 as of June 30, 2026. The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.
[5] Unless otherwise indicated, all securities are valued using significant unobservable inputs, which are categorized as Level 3 assets under the definition of ASC 820 fair value hierarchy (see Note 4).
[6] Percentage is based on net assets of $157,862,907 as of June 30, 2026.
[7] Affiliated Investments are defined by the 1940 Act as investments in companies in which the Company owns between 5% and 25% outstanding voting securities or is under common control with such portfolio company.
[8] Par amount is presented for debt investments and the amount includes accumulated payment-in-kind (“PIK”) interest, as applicable, and is net of repayments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars (“$”) unless otherwise noted.
[9] Substantially all of our investments are domiciled in the United States. Certain investments also have international operations.
[10] Net unrealized depreciation for U.S. federal income tax purposes totaled $(22,116,677). The tax cost basis of investments is $323,885,351 as of September 30, 2025. The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.
[11] Unless otherwise indicated, all securities are valued using significant unobservable inputs, which are categorized as Level 3 assets under the definition of ASC 820 fair value hierarchy (see Note 4).
[12] Percentage is based on net assets of $160,774,300 as of September 30, 2025.
[13] The interest rate on these securities is subject to 1 month SOFR, which as of June 30, 2026 was 3.65%.
[14] The investment has an unfunded commitment as of June 30, 2026 (see Note 8), and fair value includes the value of any unfunded commitments. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan.
[15] The investment is held through PhenixFIN Investment Holdings FST, LLC.
[16] Non-income producing security.
[17] The investment includes an exit fee that is receivable upon repayment of the loan. See Note 2 “Significant Accounting Policies.”
[18] Non-income producing security.
[19] The investment includes an exit fee that is receivable upon repayment of the loan. See Note 2 “Significant Accounting Policies.”
[20] Credit Spread Adjustment (“CSA”).
[21] The interest rate on these securities is subject to 3 month SOFR, which as of  June 30, 2026 was 3.73%.
[22] This investment earns 0.50% commitment fee on all unused commitments as of June 30, 2026, and is recorded as a component of interest income on the Consolidated Statements of Operations.
[23] Credit Spread Adjustment (“CSA”).
[24] The interest rate on these securities is subject to 3 month SOFR, which as of September 30, 2025 was 3.98%.
[25] The investment has an unfunded commitment as of September 30, 2025 (see Note 8), and fair value includes the value of any unfunded commitments. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan.
[26] This investment earns 0.50% commitment fee on all unused commitments as of September 30, 2025, and is recorded as a component of interest income on the Consolidated Statements of Operations.
[27] Control Investments are defined by the Investment Company Act of 1940, as amended (the “1940 Act”), as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation.
[28] Control Investments are defined by the Investment Company Act of 1940, as amended (the “1940 Act”), as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation.
[29] This investment represents a Level 1 security in the ASC 820 table as of June 30, 2026 (see Note 4).
[30] This investment represents a Level 1 security in the ASC 820 table as of September 30, 2025 (see Note 4).
[31] NSG Captive, Inc. owns approximately 86.7% of National Security Group Holdings Inc.
[32] The interest rate on these securities is subject to the quarterly Applicable Federal Rate, (“AFR”), which as of June 30, 2026 was 3.79%.
[33] The interest rate on these securities is subject to the monthly Applicable Federal Rate, which as of September 30, 2025 was 3.93%.
[34] The investment was on non-accrual status as of June 30, 2026.
[35] The interest rate on these securities is subject to 1 month SOFR, which as of September 30, 2025 was 4.13%.
[36] The investment is not a qualifying asset as defined under Section 55(a) of the 1940 Act, in whole, or in part. As of September 30, 2025, non-qualifying assets represented 14.70% of total assets.
[37] The investment is not a qualifying asset as defined under Section 55(a) of the 1940 Act, in whole, or in part. As of June 30, 2026, non-qualifying assets represented 10.6% of total assets.
[38] The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month SOFR plus a CSA of 0.262% plus a 6.130% spread on 10/15/2026.
[39] The interest rate on this preferred equity is fixed-to-floating and will shift to 3 month SOFR plus a CSA of 0.262% plus a 6.130% spread on 10/15/2026.
[40] Not in use.
[41] This investment represents a Level 2 security in the ASC 820 table as of June 30, 2026 (see Note 4).
[42] This investment represents a Level 2 security in the ASC 820 table as of September 30, 2025 (see Note 4).
[43] NSG Captive, Inc. owns 80% of National Security Group Holdings Inc.
[44] On November 1, 2025, the maturity date of this investment was extended to 11/1/2026
[45] The interest rate on this preferred equity is fixed-to-floating and shifted to 3 month SOFR plus a CSA of 0.262% plus a 4.743% spread on 9/30/2025.
[46] The investment was on non-accrual status as of September 30, 2025.
[47] The interest rate on this preferred equity is 7.875%.
[48] The interest rate on this preferred equity is 7.875%.
[49] The investment is valued using NAV as a practical expedient.