| Summary Of Schedule Investments SDLP Listing |
As of June 30, 2026, certain loans in one portfolio company in the SDLP portfolio was on non-accrual status. As of December 31, 2025, none of the loans in the SDLP portfolio were on non-accrual status. Below is a summary of the SDLP’s portfolio as of June 30, 2026 and December 31, 2025 (dollars in millions):
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As of June 30, 2026 |
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As of December 31, 2025 |
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Total first lien senior secured loans(1) |
|
$ |
4,470 |
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|
$ |
4,297 |
|
Largest loan to a single borrower(1) |
|
$ |
372 |
|
|
$ |
413 |
|
Total of five largest loans to borrower(1) |
|
$ |
1,634 |
|
|
$ |
1,719 |
|
Number of borrowers in the SDLP |
|
|
72 |
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|
|
39 |
|
Commitments to fund delayed draw loans (2) |
|
$ |
260 |
|
|
$ |
259 |
|
(1) At principal amount. (2) As discussed above, these commitments have been approved by the SDLP Investment Committee Below is a listing of SDLP’s individual investments as of June 30, 2026 (dollars in thousands):
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Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
Senior Secured First Lien Loans |
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Aerospace & Defense |
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Acron Aviation, Inc. |
Revolver |
N/A |
|
3/29/2032 |
|
— |
|
|
1 |
|
|
1 |
|
(2) |
Acron Aviation, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
3/29/2032 |
|
1,507 |
|
|
1,507 |
|
|
1,507 |
|
(2) |
Acron Aviation, Inc. |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
3/29/2032 |
|
9,169 |
|
|
9,169 |
|
|
9,169 |
|
(2) |
Blue Raven Solutions, LLC |
Term Loan |
SOFR |
+ |
6.00% |
(Q) |
9.73% |
1/16/2032 |
|
9,416 |
|
|
9,416 |
|
|
9,227 |
|
(2) |
Titan BW Borrower L.P. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.41% |
7/26/2032 |
|
3,158 |
|
|
3,105 |
|
|
3,105 |
|
(2) |
Titan BW Borrower L.P. |
Term Loan |
SOFR |
+ |
2.50% (2.88% PIK) |
(Q) |
9.01% |
7/26/2032 |
|
26,410 |
|
|
26,145 |
|
|
26,145 |
|
(2) |
Zenith AcquisitionCo, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.17% |
1/13/2033 |
|
189 |
|
|
189 |
|
|
148 |
|
(2) |
Zenith AcquisitionCo, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.17% |
1/13/2033 |
|
8,021 |
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|
8,021 |
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|
7,941 |
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(2) |
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57,553 |
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57,243 |
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Automobiles |
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Bolt Purchaser, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
6/30/2033 |
|
9,658 |
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|
9,658 |
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|
9,658 |
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(2) |
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9,658 |
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|
9,658 |
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Automobile Components |
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Arrowhead Holdco Company |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.88% |
8/31/2028 |
|
42,648 |
|
|
41,093 |
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|
34,119 |
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(2) |
Arrowhead Holdco Company |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.88% |
8/31/2028 |
|
37,136 |
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|
35,782 |
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|
29,709 |
|
(2) |
Arrowhead Holdco Company |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.88% |
8/31/2028 |
|
2,419 |
|
|
2,331 |
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|
1,935 |
|
(2) |
Arrowhead Holdco Company |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.88% |
8/31/2028 |
|
180,025 |
|
|
173,461 |
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|
144,020 |
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(2) |
Arrowhead Holdco Company |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.88% |
8/31/2028 |
|
26,484 |
|
|
25,518 |
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|
21,187 |
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(2) |
Midco Holding, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
2.50% (5.00% PIK) |
(Q) |
11.15% |
11/9/2029 |
|
3,056 |
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|
3,056 |
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|
3,056 |
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(2) |
Midco Holding, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
2.50% (5.00% PIK) |
(Q) |
11.14% |
11/9/2029 |
|
3,056 |
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|
3,056 |
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|
3,056 |
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(2) |
Midco Holding, LLC |
Term Loan |
SOFR |
+ |
2.50% (5.00% PIK) |
(Q) |
11.15% |
11/9/2029 |
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94,019 |
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|
94,019 |
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|
94,019 |
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(2) |
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378,316 |
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331,101 |
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Capital Markets |
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Lido Advisors, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.43% |
5/10/2032 |
|
4,837 |
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|
4,837 |
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|
4,837 |
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(2) |
Lido Advisors, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
5/10/2032 |
|
748 |
|
|
748 |
|
|
748 |
|
(2) |
Oak Funding, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.16% |
12/2/2032 |
|
23,909 |
|
|
23,909 |
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|
23,909 |
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(2) |
PCIA SPV-3, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
8/1/2029 |
|
1,933 |
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|
1,933 |
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|
1,933 |
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(2) |
PCIA SPV-3, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.41% |
8/1/2029 |
|
3,402 |
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|
3,402 |
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|
3,402 |
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(2) |
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34,829 |
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34,829 |
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Chemicals |
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RCR Buyer, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.89% |
4/30/2031 |
|
5,277 |
|
|
5,277 |
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|
5,277 |
|
(2) |
SePRO Holdings, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.89% |
7/26/2030 |
|
14,085 |
|
|
14,085 |
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|
14,085 |
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(2) |
SePRO Holdings, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.89% |
7/26/2030 |
|
116,536 |
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|
116,536 |
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116,536 |
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(2) |
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135,898 |
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|
135,898 |
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Commercial Services & Supplies |
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365RM Holdco, LLC |
Delayed Draw Term Loan |
N/A |
|
5/6/2033 |
|
— |
|
|
— |
|
|
(7 |
) |
(2) |
365RM Holdco, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
5/6/2033 |
|
16,854 |
|
|
16,854 |
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|
16,686 |
|
(2) |
Accommodations Plus Technologies LLC |
Term Loan |
SOFR |
+ |
5.25% |
(Q) |
8.95% |
5/28/2032 |
|
7,745 |
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|
7,745 |
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|
7,745 |
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(2) |
Accommodations Plus Technologies LLC |
Term Loan |
SOFR |
+ |
5.25% |
(Q) |
8.95% |
5/28/2032 |
|
2,510 |
|
|
2,510 |
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|
2,510 |
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(2) |
Astra Service Partners, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.21% |
11/26/2032 |
|
2,085 |
|
|
2,086 |
|
|
2,086 |
|
(2) |
Astra Service Partners, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
11/26/2032 |
|
12,195 |
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|
12,195 |
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|
12,195 |
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(2) |
CARDS-Live Oak Holdings, Inc. |
Revolver |
N/A |
|
10/21/2032 |
|
— |
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|
1 |
|
|
1 |
|
(2) |
CARDS-Live Oak Holdings, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
10/21/2032 |
|
2,695 |
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|
2,695 |
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|
2,695 |
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(2) |
CARDS-Live Oak Holdings, Inc. |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
10/21/2032 |
|
10,317 |
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|
10,317 |
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|
10,317 |
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(2) |
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Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
Drogon Bidco Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(M) |
8.63% |
8/29/2031 |
|
4,345 |
|
|
4,345 |
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|
4,345 |
|
(2) |
Drogon Bidco Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(M) |
8.64% |
8/29/2031 |
|
3,947 |
|
|
3,947 |
|
|
3,947 |
|
(2) |
ISQ Hawkeye HoldCo, Inc. |
Term Loan |
SOFR |
+ |
4.00% |
(M) |
7.64% |
8/20/2031 |
|
303,686 |
|
|
303,686 |
|
|
303,686 |
|
(2) |
Pritchard Industries, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.75% |
(S) |
9.85% |
10/13/2027 |
|
46,108 |
|
|
46,109 |
|
|
42,882 |
|
(2) |
Pritchard Industries, LLC |
Term Loan |
SOFR |
+ |
5.75% |
(S) |
9.85% |
10/13/2027 |
|
192,836 |
|
|
192,836 |
|
|
179,338 |
|
(2) |
Talon Buyer Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.93% |
7/15/2032 |
|
3,607 |
|
|
3,483 |
|
|
3,483 |
|
(2) |
Zinc Buyer Corporation |
Delayed Draw Term Loan |
N/A |
|
7/24/2031 |
|
— |
|
|
(40 |
) |
|
(40 |
) |
(2) |
Zinc Buyer Corporation |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.42% |
7/24/2031 |
|
623 |
|
|
617 |
|
|
617 |
|
(2) |
|
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|
|
|
|
|
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|
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|
609,386 |
|
|
592,486 |
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|
Construction & Engineering |
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Bells Parent, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.73% |
4/25/2033 |
|
2,187 |
|
|
2,187 |
|
|
2,159 |
|
(2) |
Bells Parent, Inc. |
Term Loan |
SOFR |
+ |
5.00% |
(S) |
8.68% |
4/25/2033 |
|
7,378 |
|
|
7,378 |
|
|
7,285 |
|
(2) |
BGIF IV Fearless Utility Services, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(M) |
8.65% |
6/9/2031 |
|
10,165 |
|
|
10,165 |
|
|
10,165 |
|
(2) |
BGIF IV Fearless Utility Services, Inc. |
Term Loan |
SOFR |
+ |
5.00% |
(M) |
8.65% |
6/9/2031 |
|
14,773 |
|
|
14,773 |
|
|
14,773 |
|
(2) |
Ground Penetrating Radar Systems, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
1/2/2032 |
|
4,428 |
|
|
4,428 |
|
|
4,428 |
|
(2) |
Ground Penetrating Radar Systems, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
1/2/2032 |
|
181,582 |
|
|
181,582 |
|
|
181,582 |
|
(2) |
Ground Penetrating Radar Systems, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
1/2/2032 |
|
3,692 |
|
|
3,692 |
|
|
3,692 |
|
(2) |
HP RSS Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.41% |
12/11/2029 |
|
15,928 |
|
|
15,928 |
|
|
15,928 |
|
(2) |
HP RSS Buyer, Inc. |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.45% |
12/11/2029 |
|
1,624 |
|
|
1,624 |
|
|
1,624 |
|
(2) |
Pave America Holding, LLC |
Revolver |
N/A |
|
8/27/2032 |
|
— |
|
|
1 |
|
|
1 |
|
(2) |
Pave America Holding, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
2.38% (2.88% PIK) |
(Q) |
8.93% |
8/27/2032 |
|
1,508 |
|
|
1,508 |
|
|
1,508 |
|
(2) |
Pave America Holding, LLC |
Term Loan |
SOFR |
+ |
2.38% (2.88% PIK) |
(Q) |
8.98% |
8/27/2032 |
|
8,774 |
|
|
8,774 |
|
|
8,774 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
252,040 |
|
|
251,919 |
|
|
Consumer Staples Distribution & Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FS Squared Holding Corp. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
12/23/2030 |
|
93,333 |
|
|
93,333 |
|
|
93,333 |
|
(2) |
FS Squared Holding Corp. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
12/23/2030 |
|
46,993 |
|
|
46,993 |
|
|
46,993 |
|
(2) |
FS Squared Holding Corp. |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
12/23/2030 |
|
217,593 |
|
|
217,593 |
|
|
217,593 |
|
(2) |
GMF Parent, Inc. |
Delayed Draw Term Loan |
N/A |
|
12/20/2032 |
|
— |
|
|
— |
|
|
(89 |
) |
(2) |
GMF Parent, Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.18% |
12/20/2032 |
|
10,493 |
|
|
10,493 |
|
|
10,178 |
|
(2) |
Quirch Foods Holdings, LLC |
Term Loan |
SOFR |
+ |
6.50% |
(M) |
10.14% |
11/12/2030 |
|
25,463 |
|
|
25,463 |
|
|
25,463 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
393,875 |
|
|
393,471 |
|
|
Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Big Bucks Acquisition Corporation |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.70% |
9/29/2031 |
|
7,735 |
|
|
7,735 |
|
|
7,735 |
|
(2) |
Radwell Parent, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
4/1/2029 |
|
620 |
|
|
620 |
|
|
615 |
|
(2) |
Radwell Parent, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
4/1/2030 |
|
48 |
|
|
48 |
|
|
32 |
|
(2) |
Radwell Parent, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
4/1/2030 |
|
6,639 |
|
|
6,639 |
|
|
6,573 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
15,042 |
|
|
14,955 |
|
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Flint OpCo, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.40% |
8/15/2030 |
|
5,320 |
|
|
5,320 |
|
|
5,320 |
|
(2) |
LHS Borrower, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.89% |
9/4/2031 |
|
19,478 |
|
|
19,478 |
|
|
18,894 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
24,798 |
|
|
24,214 |
|
|
Electronic Equipment, Instruments & Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EIS Legacy Holdco, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.16% |
11/5/2031 |
|
93,649 |
|
|
93,650 |
|
|
93,650 |
|
(2) |
EIS Legacy Holdco, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.16% |
11/5/2031 |
|
217,193 |
|
|
217,193 |
|
|
217,193 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
310,843 |
|
|
310,843 |
|
|
Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Convera International Holdings Limited |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.63% |
3/1/2030 |
|
11,328 |
|
|
11,328 |
|
|
11,328 |
|
(2)(3) |
Convera International Holdings Limited |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.63% |
3/1/2030 |
|
1,200 |
|
|
1,200 |
|
|
1,200 |
|
(2)(3) |
Convera International Holdings Limited |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.63% |
3/1/2030 |
|
307 |
|
|
307 |
|
|
307 |
|
(2)(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
Spirit RR Holdings, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.73% |
9/13/2028 |
|
8,090 |
|
|
8,090 |
|
|
8,090 |
|
(2) |
The Ultimus Group Midco, LLC |
Delayed Draw Term Loan |
N/A |
|
7/1/2032 |
|
— |
|
|
(32 |
) |
|
(32 |
) |
(2) |
The Ultimus Group Midco, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
7/1/2032 |
|
18,691 |
|
|
18,598 |
|
|
18,598 |
|
(2) |
Tiger Holdco LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(M) |
7.90% |
3/11/2031 |
|
23,321 |
|
|
23,321 |
|
|
23,321 |
|
(2) |
Tiger Holdco LLC |
Term Loan |
SOFR |
+ |
4.25% |
(M) |
7.90% |
3/11/2031 |
|
115,706 |
|
|
115,706 |
|
|
115,706 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
178,518 |
|
|
178,518 |
|
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DecoPac, Inc. |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.66% |
5/14/2030 |
|
40,000 |
|
|
40,000 |
|
|
40,000 |
|
(2) |
Gula Buyer Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.13% |
10/27/2031 |
|
14,813 |
|
|
14,813 |
|
|
14,813 |
|
(2) |
Manna Pro Products, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
3.00% (3.50% PIK) |
(Q) |
10.33% |
12/10/2029 |
|
29,967 |
|
|
28,190 |
|
|
22,176 |
|
(2)(5) |
Manna Pro Products, LLC |
Term Loan |
SOFR |
+ |
3.00% (3.50% PIK) |
(Q) |
10.33% |
12/10/2029 |
|
181,194 |
|
|
170,450 |
|
|
134,084 |
|
(2)(5) |
Manna Pro Products, LLC |
Term Loan |
SOFR |
+ |
3.00% (3.50% PIK) |
(Q) |
10.33% |
12/10/2029 |
|
48,218 |
|
|
45,358 |
|
|
35,681 |
|
(2)(5) |
Manna Pro Products, LLC |
Term Loan |
SOFR |
+ |
3.00% (3.50% PIK) |
(Q) |
10.33% |
12/10/2029 |
|
14,292 |
|
|
13,444 |
|
|
10,575 |
|
(2)(5) |
Sugar PPC Buyer LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(S) |
8.60% |
10/2/2031 |
|
1,150 |
|
|
1,150 |
|
|
1,150 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
313,405 |
|
|
258,479 |
|
|
Health Care Equipment & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Artivion, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.40% |
1/21/2031 |
|
17,456 |
|
|
17,456 |
|
|
17,456 |
|
(2) |
NMN Holdings III Corp |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.14% |
7/31/2031 |
|
225,492 |
|
|
225,492 |
|
|
225,492 |
|
(2) |
Spruce Bidco II Inc. |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.41% |
1/30/2032 |
|
39,900 |
|
|
39,900 |
|
|
39,900 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
282,848 |
|
|
282,848 |
|
|
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premise Health Holding Corp |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
11/8/2032 |
|
1,580 |
|
|
1,580 |
|
|
1,580 |
|
(2) |
Premise Health Holding Corp |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
11/8/2032 |
|
6,236 |
|
|
6,236 |
|
|
6,236 |
|
(2) |
Premise Health Holding Corp |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
11/8/2032 |
|
2,185 |
|
|
2,185 |
|
|
2,185 |
|
(2) |
U.S. Urology Partners, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
4/8/2032 |
|
4,988 |
|
|
4,988 |
|
|
4,988 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
14,989 |
|
|
14,989 |
|
|
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GHX Ultimate Parent Corporation |
Term Loan |
SOFR |
+ |
2.50% (2.50% PIK) |
(Q) |
8.73% |
2/4/2033 |
|
6,994 |
|
|
6,994 |
|
|
6,924 |
|
(2) |
GHX Ultimate Parent Corporation |
Term Loan |
SOFR |
+ |
2.50% (2.50% PIK) |
(Q) |
8.73% |
2/4/2033 |
|
5,445 |
|
|
5,445 |
|
|
5,390 |
|
(2) |
Project Alliance Buyer, LLC |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.67% |
8/27/2031 |
|
4,070 |
|
|
4,070 |
|
|
4,070 |
|
(2) |
Surescripts, LLC |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.73% |
11/3/2031 |
|
111,094 |
|
|
111,094 |
|
|
111,094 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
127,603 |
|
|
127,478 |
|
|
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Birdie Bidco, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
2.50% (2.25% PIK) |
(Q) |
8.41% |
11/17/2032 |
|
277 |
|
|
278 |
|
|
278 |
|
(2) |
Birdie Bidco, Inc. |
Term Loan |
SOFR |
+ |
2.50% (2.25% PIK) |
(Q) |
8.48% |
11/17/2032 |
|
5,670 |
|
|
5,670 |
|
|
5,670 |
|
(2) |
Invited, Inc. |
Delayed Draw Term Loan |
N/A |
|
6/9/2032 |
|
— |
|
|
— |
|
|
(15 |
) |
(2) |
Invited, Inc. |
Term Loan |
SOFR |
+ |
5.25% |
(Q) |
8.86% |
6/9/2032 |
|
39,747 |
|
|
39,747 |
|
|
39,351 |
|
(2) |
Triwizard Holdings, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.66% |
6/29/2029 |
|
38,089 |
|
|
38,088 |
|
|
38,088 |
|
(2) |
Triwizard Holdings, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.66% |
6/29/2029 |
|
54,191 |
|
|
54,191 |
|
|
54,191 |
|
(2) |
Triwizard Holdings, Inc. |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.73% |
6/29/2029 |
|
151,975 |
|
|
151,975 |
|
|
151,975 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
289,949 |
|
|
289,538 |
|
|
Household Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Walnut Parent, Inc. |
Term Loan |
SOFR |
+ |
2.88% |
(M) |
6.62% |
11/9/2029 |
|
305,031 |
|
|
305,031 |
|
|
286,729 |
|
(2) |
Walnut Parent, Inc. |
Term Loan |
SOFR |
+ |
2.88% (3.38% PIK) |
(Q) |
10.06% |
11/9/2029 |
|
40,576 |
|
|
40,576 |
|
|
38,141 |
|
(2) |
Walnut Parent, Inc. |
Term Loan |
SOFR |
+ |
2.88% (3.38% PIK) |
(Q) |
10.06% |
11/9/2029 |
|
26,811 |
|
|
26,752 |
|
|
25,202 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
372,359 |
|
|
350,072 |
|
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ Sunshine, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.74% |
7/25/2033 |
|
324 |
|
|
324 |
|
|
293 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
AQ Sunshine, Inc. |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.66% |
7/25/2033 |
|
5,000 |
|
|
5,000 |
|
|
4,950 |
|
(2) |
High Street Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.98% |
4/14/2028 |
|
5,292 |
|
|
5,252 |
|
|
5,292 |
|
(2) |
High Street Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.98% |
4/14/2028 |
|
4,533 |
|
|
4,498 |
|
|
4,533 |
|
(2) |
High Street Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.98% |
4/14/2028 |
|
3,918 |
|
|
3,888 |
|
|
3,918 |
|
(2) |
High Street Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.98% |
4/14/2028 |
|
2,826 |
|
|
2,806 |
|
|
2,826 |
|
(2) |
High Street Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.98% |
4/14/2028 |
|
1,239 |
|
|
1,231 |
|
|
1,239 |
|
(2) |
High Street Buyer, Inc. |
Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.98% |
4/14/2028 |
|
2,140 |
|
|
2,124 |
|
|
2,140 |
|
(2) |
Oakbridge Insurance Agency LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(M) |
8.64% |
11/1/2029 |
|
3,409 |
|
|
3,408 |
|
|
3,408 |
|
(2) |
Oakbridge Insurance Agency LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
11/1/2029 |
|
3,518 |
|
|
3,518 |
|
|
3,518 |
|
(2) |
SageSure Holdings, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.26% |
1/28/2030 |
|
13,437 |
|
|
13,437 |
|
|
13,437 |
|
(2) |
SageSure Holdings, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.26% |
1/28/2030 |
|
5,828 |
|
|
5,828 |
|
|
5,828 |
|
(2) |
SageSure Holdings, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.26% |
1/28/2030 |
|
12,312 |
|
|
12,312 |
|
|
12,312 |
|
(2) |
SageSure Holdings, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.26% |
1/28/2030 |
|
8,332 |
|
|
8,332 |
|
|
8,332 |
|
(2) |
THG Acquisition, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
10/31/2031 |
|
20,191 |
|
|
20,191 |
|
|
20,191 |
|
(2) |
THG Acquisition, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
10/31/2031 |
|
121,123 |
|
|
121,123 |
|
|
121,123 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
213,272 |
|
|
213,340 |
|
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UFS, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.39% |
10/14/2031 |
|
14,852 |
|
|
14,852 |
|
|
14,852 |
|
(2) |
Victors Purchaser, LLC |
Delayed Draw Term Loan |
N/A |
|
12/23/2032 |
|
— |
|
|
— |
|
|
(11 |
) |
(2) |
Victors Purchaser, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
12/23/2032 |
|
11,545 |
|
|
11,545 |
|
|
11,430 |
|
(2) |
Victors Purchaser, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
12/23/2032 |
|
33 |
|
|
33 |
|
|
31 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
26,430 |
|
|
26,302 |
|
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harvey Tool Company, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
8/6/2032 |
|
240,212 |
|
|
240,212 |
|
|
240,212 |
|
(2) |
JSG II, Inc. and Checkers USA, Inc./JHC Acquisition Corp |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.14% |
9/30/2032 |
|
27,901 |
|
|
27,901 |
|
|
27,901 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
268,113 |
|
|
268,113 |
|
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grit Buyer, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
7/16/2032 |
|
8,640 |
|
|
8,640 |
|
|
8,640 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
8,640 |
|
|
8,640 |
|
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apple Bidco Holdings, Inc. |
Delayed Draw Term Loan |
N/A |
|
1/24/2033 |
|
— |
|
|
— |
|
|
(110 |
) |
(2) |
Apple Bidco Holdings, Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.20% |
1/24/2033 |
|
12,246 |
|
|
12,246 |
|
|
11,878 |
|
(2) |
Bottomline Technologies, Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.23% |
5/14/2029 |
|
24,937 |
|
|
24,875 |
|
|
24,937 |
|
(2) |
Cority Software Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.16% |
11/1/2032 |
|
11,884 |
|
|
11,884 |
|
|
11,527 |
|
(2) |
Doxim Inc. |
Term Loan |
SOFR |
+ |
6.50% |
(M) |
10.14% |
11/30/2027 |
|
12,940 |
|
|
12,940 |
|
|
12,940 |
|
(2)(3) |
Goose Borrower, L.P. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
3/2/2033 |
|
7,234 |
|
|
7,234 |
|
|
7,162 |
|
(2) |
Goose Borrower, L.P. |
Term Loan |
SOFR |
+ |
4.75% |
(Q) |
8.48% |
3/2/2033 |
|
5,895 |
|
|
5,895 |
|
|
5,837 |
|
(2) |
Merit Software Finance Holdings, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.25% |
(Q) |
8.98% |
12/30/2032 |
|
2,198 |
|
|
2,199 |
|
|
2,199 |
|
(2) |
Merit Software Finance Holdings, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(Q) |
8.98% |
12/30/2032 |
|
6,365 |
|
|
6,365 |
|
|
6,365 |
|
(2) |
ML Holdco, Inc. |
Delayed Draw Term Loan |
N/A |
|
10/25/2032 |
|
— |
|
|
— |
|
|
(41 |
) |
(2) |
ML Holdco, Inc. |
Term Loan |
SOFR |
+ |
4.25% |
(Q) |
7.91% |
10/25/2032 |
|
7,936 |
|
|
7,936 |
|
|
7,777 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
91,574 |
|
|
90,471 |
|
|
Trading Companies & Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Penn Detroit Diesel Allison, LLC |
Term Loan |
SOFR |
+ |
7.00% |
(Q) |
10.72% |
12/14/2027 |
|
32,794 |
|
|
32,794 |
|
|
26,235 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
32,794 |
|
|
26,235 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Senior Secured First Lien Loans |
|
|
|
|
|
|
|
|
|
$ |
4,442,732 |
|
$ |
4,291,640 |
|
|
Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automobile Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midco Holding, LLC |
Common Stock |
|
|
|
|
|
|
|
45,844 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
Midco Holding, LLC |
Preferred Shares |
|
|
|
|
|
|
|
59,596 |
|
|
23,119 |
|
|
17,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
23,119 |
|
|
17,408 |
|
|
Automobiles |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bolt Purchaser, LLC |
Common Stock |
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
Consumer Staples Distribution & Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GMF Parent, Inc. |
Limited Partnership |
|
|
|
|
|
|
|
— |
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LHS Borrower, LLC |
Limited Partnership |
|
|
|
|
|
|
|
— |
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Manna Pro Products, LLC |
Common Stock |
|
|
|
|
|
|
|
21 |
|
|
— |
|
|
— |
|
|
Manna Pro Products, LLC |
Common Stock |
|
|
|
|
|
|
|
17 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
— |
|
|
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invited, Inc. |
Common Stock |
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ Sunshine, Inc. |
Limited Partnership |
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity |
|
|
|
|
|
|
|
|
|
|
23,124 |
|
|
17,413 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
|
|
|
|
|
|
|
$ |
4,465,856 |
|
$ |
4,309,053 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Variable rate loans to the portfolio companies bear interest at a rate that may be determined by reference to SOFR, or an alternate base rate (commonly based on the Federal Funds Rate or the Prime Rate), at the borrower’s option, which reset semi-annually (S), quarterly (Q), or monthly (M). For each such loan, the interest rate provided was the rate in effect as of June 30, 2026. (2) Loan includes interest rate floor feature. (3) Investment is domiciled outside of the United States. (4) The negative fair value, if applicable, results from the fair valuation of the unfunded commitment. (5) The investment was on non-accrual status as of June 30, 2026. Below is a listing of SDLP’s individual investments as of December 31, 2025 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
Senior Secured First Lien Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acron Aviation, Inc. |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.42% |
3/29/2032 |
|
9,191 |
|
|
9,191 |
|
|
9,191 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
9,191 |
|
|
9,191 |
|
|
Automobile Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arrowhead Holdco Company |
Delayed Draw Term Loan |
SOFR |
+ |
2.50% (2.75% PIK) |
(Q) |
8.94% |
08/31/2028 |
|
2,414 |
|
|
2,342 |
|
|
1,906 |
|
(2) |
Arrowhead Holdco Company |
Delayed Draw Term Loan |
SOFR |
+ |
2.50% (2.75% PIK) |
(Q) |
8.92% |
08/31/2028 |
|
37,057 |
|
|
35,956 |
|
|
29,275 |
|
(2) |
Arrowhead Holdco Company |
Delayed Draw Term Loan |
SOFR |
+ |
2.50% (2.75% PIK) |
(Q) |
8.92% |
08/31/2028 |
|
42,557 |
|
|
40,999 |
|
|
33,620 |
|
(2) |
Arrowhead Holdco Company |
Term Loan |
SOFR |
+ |
2.50% (2.75% PIK) |
(Q) |
8.94% |
08/31/2028 |
|
26,427 |
|
|
25,641 |
|
|
20,877 |
|
(2) |
Arrowhead Holdco Company |
Term Loan |
SOFR |
+ |
2.50% (2.75% PIK) |
(Q) |
8.94% |
08/31/2028 |
|
179,643 |
|
|
174,307 |
|
|
141,918 |
|
(2) |
Midco Holding, LLC |
Term Loan |
SOFR |
+ |
7.50% |
(M) |
11.36% |
11/9/2029 |
|
91,687 |
|
|
91,687 |
|
|
91,687 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
370,932 |
|
|
319,283 |
|
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RCR Buyer, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.97% |
4/30/2031 |
|
5,569 |
|
|
5,569 |
|
|
5,569 |
|
(2) |
SePRO Holdings, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.97% |
7/26/2030 |
|
117,128 |
|
|
117,128 |
|
|
117,128 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
122,697 |
|
|
122,697 |
|
|
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accommodations Plus Technologies LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.94% |
5/28/2032 |
|
7,783 |
|
|
7,783 |
|
|
7,783 |
|
(2) |
Accommodations Plus Technologies LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.94% |
5/28/2032 |
|
2,523 |
|
|
2,523 |
|
|
2,523 |
|
(2) |
Astra Service Partners, LLC |
Delayed Draw Term Loan |
N/A |
|
11/26/2032 |
|
— |
|
|
— |
|
|
(15 |
) |
(2) |
Astra Service Partners, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.34% |
11/26/2032 |
|
12,195 |
|
|
12,195 |
|
|
12,103 |
|
(2) |
CARDS-Live Oak Holdings, Inc. |
Delayed Draw Term Loan |
N/A |
|
10/21/2032 |
|
— |
|
|
— |
|
|
(21 |
) |
(2) |
CARDS-Live Oak Holdings, Inc. |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.42% |
10/21/2032 |
|
10,368 |
|
|
10,368 |
|
|
10,264 |
|
(2) |
ISQ Hawkeye HoldCo, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.68% |
(M) |
8.43% |
8/20/2031 |
|
3,713 |
|
|
3,713 |
|
|
3,713 |
|
(2) |
ISQ Hawkeye HoldCo, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
4.68% |
(M) |
8.43% |
8/20/2031 |
|
81,491 |
|
|
81,491 |
|
|
81,491 |
|
(2) |
ISQ Hawkeye HoldCo, Inc. |
Term Loan |
SOFR |
+ |
4.68% |
(M) |
8.43% |
8/20/2031 |
|
223,760 |
|
|
223,760 |
|
|
223,760 |
|
(2) |
Pritchard Industries, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.75% |
(Q) |
9.57% |
10/13/2027 |
|
46,350 |
|
|
46,350 |
|
|
43,105 |
|
(2) |
Pritchard Industries, LLC |
Term Loan |
SOFR |
+ |
5.75% |
(Q) |
9.57% |
10/13/2027 |
|
193,846 |
|
|
193,846 |
|
|
180,277 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
582,029 |
|
|
564,983 |
|
|
Construction & Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ground Penetrating Radar Systems, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.17% |
1/2/2032 |
|
4,450 |
|
|
4,450 |
|
|
4,450 |
|
(2) |
Ground Penetrating Radar Systems, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.17% |
1/2/2032 |
|
182,499 |
|
|
182,499 |
|
|
182,499 |
|
(2) |
Pave America Holding, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.69% |
8/27/2032 |
|
883 |
|
|
883 |
|
|
863 |
|
(2) |
Pave America Holding, LLC |
Term Loan |
SOFR |
+ |
2.38% (2.88% PIK) |
(M) |
8.92% |
8/27/2032 |
|
8,691 |
|
|
8,691 |
|
|
8,604 |
|
(2) |
Valcourt Holdings II, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
9.04% |
11/21/2029 |
|
16,628 |
|
|
16,628 |
|
|
16,628 |
|
(2) |
Valcourt Holdings II, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
9.02% |
11/21/2029 |
|
26,604 |
|
|
26,604 |
|
|
26,604 |
|
(2) |
Valcourt Holdings II, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.87% |
11/21/2029 |
|
20,261 |
|
|
20,261 |
|
|
20,261 |
|
(2) |
Valcourt Holdings II, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.99% |
11/21/2029 |
|
12,214 |
|
|
12,214 |
|
|
12,214 |
|
(2) |
Valcourt Holdings II, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.97% |
11/21/2029 |
|
9,903 |
|
|
9,903 |
|
|
9,903 |
|
(2) |
Valcourt Holdings II, LLC |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
9.02% |
11/21/2029 |
|
257,272 |
|
|
257,272 |
|
|
257,272 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
539,405 |
|
|
539,298 |
|
|
Consumer Staples Distribution & Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
FS Squared Holding Corp. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.47% |
12/23/2030 |
|
116,262 |
|
|
116,262 |
|
|
116,262 |
|
(2) |
FS Squared Holding Corp. |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.47% |
12/23/2030 |
|
48,600 |
|
|
48,601 |
|
|
48,601 |
|
(2) |
FS Squared Holding Corp. |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.47% |
12/23/2030 |
|
248,325 |
|
|
248,325 |
|
|
248,325 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
413,188 |
|
|
413,188 |
|
|
Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Big Bucks Acquisition Corporation |
Term Loan |
SOFR |
+ |
5.00% |
(M) |
8.67% |
09/29/2031 |
|
8,327 |
|
|
8,327 |
|
|
8,223 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
8,327 |
|
|
8,223 |
|
|
Electronic Equipment, Instruments & Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EIS Legacy Holdco, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.40% |
11/05/2031 |
|
67,486 |
|
|
67,487 |
|
|
67,487 |
|
(2) |
EIS Legacy Holdco, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(Q) |
8.40% |
11/05/2031 |
|
218,295 |
|
|
218,295 |
|
|
218,295 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
285,782 |
|
|
285,782 |
|
|
Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Convera International Holdings Limited |
Term Loan |
SOFR |
+ |
6.00% |
(Q) |
9.84% |
3/1/2030 |
|
11,387 |
|
|
11,387 |
|
|
11,387 |
|
(2)(3) |
Convera International Holdings Limited |
Term Loan |
SOFR |
+ |
6.00% |
(Q) |
9.84% |
3/1/2030 |
|
1,206 |
|
|
1,206 |
|
|
1,206 |
|
(2)(3) |
Convera International Holdings Limited |
Term Loan |
SOFR |
+ |
6.00% |
(S) |
9.84% |
3/1/2030 |
|
309 |
|
|
309 |
|
|
309 |
|
(2)(3) |
Oak Funding, LLC |
Delayed Draw Term Loan |
N/A |
|
12/2/2032 |
|
— |
|
|
— |
|
|
(12 |
) |
(2) |
Oak Funding, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.29% |
12/2/2032 |
|
23,970 |
|
|
23,970 |
|
|
23,730 |
|
(2) |
Tiger Holdco LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.25% |
(M) |
7.98% |
3/11/2031 |
|
23,439 |
|
|
23,439 |
|
|
23,439 |
|
(2) |
Tiger Holdco LLC |
Term Loan |
SOFR |
+ |
4.25% |
(M) |
7.98% |
3/11/2031 |
|
116,291 |
|
|
116,291 |
|
|
116,291 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
176,602 |
|
|
176,350 |
|
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GMF Parent, Inc. |
Delayed Draw Term Loan |
N/A |
|
12/20/2032 |
|
— |
|
|
— |
|
|
(15 |
) |
(2) |
GMF Parent, Inc. |
Delayed Draw Term Loan |
N/A |
|
12/20/2032 |
|
— |
|
|
— |
|
|
(13 |
) |
(2) |
GMF Parent, Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.20% |
12/20/2032 |
|
10,519 |
|
|
10,519 |
|
|
10,467 |
|
(2) |
Manna Pro Products, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
3.0% (3.50% PIK) |
(Q) |
10.30% |
12/10/2029 |
|
29,424 |
|
|
28,701 |
|
|
23,245 |
|
(2) |
Manna Pro Products, LLC |
Term Loan |
SOFR |
+ |
3.0% (3.50% PIK) |
(Q) |
10.30% |
12/10/2029 |
|
14,033 |
|
|
13,687 |
|
|
11,086 |
|
(2) |
Manna Pro Products, LLC |
Term Loan |
SOFR |
+ |
3.0% (3.50% PIK) |
(Q) |
10.30% |
12/10/2029 |
|
47,344 |
|
|
46,181 |
|
|
37,402 |
|
(2) |
Manna Pro Products, LLC |
Term Loan |
SOFR |
+ |
3.0% (3.50% PIK) |
(Q) |
10.30% |
12/10/2029 |
|
177,910 |
|
|
173,542 |
|
|
140,549 |
|
(2) |
Quirch Foods Holdings, LLC |
Delayed Draw Term Loan |
N/A |
|
11/12/2030 |
|
— |
|
|
— |
|
|
(27 |
) |
(2) |
Quirch Foods Holdings, LLC |
Term Loan |
SOFR |
+ |
6.50% |
(M) |
10.34% |
11/12/2030 |
|
25,526 |
|
|
25,526 |
|
|
25,271 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
298,156 |
|
|
247,965 |
|
|
Health Care Equipment & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NMN Holdings III Corp |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.22% |
07/31/2031 |
|
226,640 |
|
|
226,640 |
|
|
226,640 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
226,640 |
|
|
226,640 |
|
|
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premise Health Holding Corp |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.17% |
11/8/2032 |
|
6,268 |
|
|
6,268 |
|
|
6,268 |
|
(2) |
U.S. Urology Partners, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.42% |
4/8/2032 |
|
5,000 |
|
|
5,000 |
|
|
5,000 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
11,268 |
|
|
11,268 |
|
|
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Surescripts, LLC |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.67% |
11/03/2031 |
|
111,656 |
|
|
111,656 |
|
|
111,656 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
111,656 |
|
|
111,656 |
|
|
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Birdie Bidco, Inc. |
Delayed Draw Term Loan |
N/A |
|
11/17/2032 |
|
— |
|
|
— |
|
|
(5 |
) |
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Type of Investment |
Reference Rate and Spread (1) |
Interest Rate |
Maturity |
Par / Shares |
|
Amortized Cost |
|
Fair Value(4) |
|
Footnotes |
Birdie Bidco, Inc. |
Term Loan |
SOFR |
+ |
4.50% (2.25% PIK) |
(M) |
10.42% |
11/17/2032 |
|
5,622 |
|
|
5,622 |
|
|
5,594 |
|
(2) |
Triwizard Holdings, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.90% |
6/29/2029 |
|
41,537 |
|
|
41,537 |
|
|
41,537 |
|
(2) |
Triwizard Holdings, Inc. |
Delayed Draw Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.90% |
6/29/2029 |
|
59,100 |
|
|
59,100 |
|
|
59,100 |
|
(2) |
Triwizard Holdings, Inc. |
Term Loan |
SOFR |
+ |
5.00% |
(Q) |
8.67% |
6/29/2029 |
|
165,750 |
|
|
165,750 |
|
|
165,750 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
272,009 |
|
|
271,976 |
|
|
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LHS Borrower, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.97% |
09/04/2031 |
|
19,625 |
|
|
19,625 |
|
|
19,429 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
19,625 |
|
|
19,429 |
|
|
Household Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Walnut Parent, Inc. |
Term Loan |
SOFR |
+ |
5.75% |
(Q) |
9.57% |
11/09/2027 |
|
26,460 |
|
|
26,460 |
|
|
24,608 |
|
(2) |
Walnut Parent, Inc. |
Term Loan |
SOFR |
+ |
5.75% |
(Q) |
9.57% |
11/09/2027 |
|
40,044 |
|
|
40,044 |
|
|
37,241 |
|
(2) |
Walnut Parent, Inc. |
Term Loan |
SOFR |
+ |
5.75% |
(Q) |
9.52% |
11/09/2027 |
|
299,250 |
|
|
299,250 |
|
|
278,303 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
365,754 |
|
|
340,152 |
|
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THG Acquisition, LLC |
Delayed Draw Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.47% |
10/31/2031 |
|
7,931 |
|
|
7,931 |
|
|
7,931 |
|
(2) |
THG Acquisition, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.47% |
10/31/2031 |
|
121,736 |
|
|
121,736 |
|
|
121,736 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
129,667 |
|
|
129,667 |
|
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UFS, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.50% |
10/14/2031 |
|
14,927 |
|
|
14,927 |
|
|
14,778 |
|
(2) |
Victors Purchaser, LLC |
Delayed Draw Term Loan |
N/A |
|
12/23/2032 |
|
— |
|
|
— |
|
|
(3 |
) |
(2) |
Victors Purchaser, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.19% |
12/23/2032 |
|
11,545 |
|
|
11,545 |
|
|
11,516 |
|
(2) |
Victors Purchaser, LLC |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.19% |
12/23/2032 |
|
33 |
|
|
33 |
|
|
32 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
26,505 |
|
|
26,323 |
|
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harvey Tool Company, LLC |
Delayed Draw Term Loan |
N/A |
|
10/26/2027 |
|
— |
|
|
— |
|
|
(13 |
) |
(2) |
Harvey Tool Company, LLC |
Term Loan |
SOFR |
+ |
4.75% |
(M) |
8.47% |
8/6/2032 |
|
240,212 |
|
|
240,212 |
|
|
239,011 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
240,212 |
|
|
238,998 |
|
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cority Software Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.34% |
11/1/2032 |
|
11,884 |
|
|
11,884 |
|
|
11,824 |
|
(2) |
Doxim Inc. |
Term Loan |
SOFR |
+ |
6.50% |
(M) |
10.22% |
11/30/2027 |
|
13,006 |
|
|
13,006 |
|
|
12,875 |
|
(2)(3) |
Merit Software Finance Holdings, LLC |
Delayed Draw Term Loan |
N/A |
|
12/30/2032 |
|
— |
|
|
— |
|
|
(25 |
) |
(2) |
Merit Software Finance Holdings, LLC |
Term Loan |
SOFR |
+ |
5.25% |
(M) |
8.94% |
12/30/2032 |
|
6,365 |
|
|
6,365 |
|
|
6,301 |
|
(2) |
ML Holdco, Inc. |
Delayed Draw Term Loan |
N/A |
|
10/25/2032 |
|
— |
|
|
— |
|
|
(5 |
) |
(2) |
ML Holdco, Inc. |
Term Loan |
SOFR |
+ |
4.50% |
(M) |
8.37% |
10/25/2032 |
|
7,936 |
|
|
7,936 |
|
|
7,896 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
39,191 |
|
|
38,866 |
|
|
Trading Companies & Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Penn Detroit Diesel Allison, LLC |
Term Loan |
SOFR |
+ |
7.00% |
(Q) |
10.82% |
12/14/2027 |
|
32,794 |
|
|
32,794 |
|
|
30,170 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
32,794 |
|
|
30,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Senior Secured First Lien Loans |
|
|
|
|
|
|
|
|
|
$ |
4,281,630 |
|
$ |
4,132,105 |
|
|
Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automobile Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midco Holding, LLC |
Common Stock |
|
|
|
|
|
|
|
45,844 |
|
|
— |
|
|
— |
|
|
Midco Holding, LLC |
Preferred Shares |
|
|
|
|
|
|
|
59,596 |
|
|
23,119 |
|
|
26,754 |
|
|
|
|
|
|
|
|
|
|
|
|
|
23,119 |
|
|
26,754 |
|
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Manna Pro Products, LLC |
Common Stock |
|
|
|
|
|
|
|
38 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity |
|
|
|
|
|
|
|
|
|
|
23,119 |
|
|
26,754 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
|
|
|
|
|
|
|
$ |
4,304,749 |
|
$ |
4,158,859 |
|
|
(1) Variable rate loans to the portfolio companies bear interest at a rate that may be determined by reference to SOFR, or an alternate base rate (commonly based on the Federal Funds Rate or the Prime Rate), at the borrower’s option, which reset semi-annually (S), quarterly (Q), or monthly (M). For each such loan, the interest rate provided was the rate in effect as of December 31, 2025. (2) Loan includes interest rate floor feature. (3) Investment is domiciled outside of the United States. (4) The negative fair value, if applicable, results from the fair valuation of the unfunded commitment.
|