Commitments, Contingencies, Concentration of Credit Risk and Off-Balance Sheet Risk

9 Months Ended

Sep. 30, 2026

Commitments Contingencies Concentration of Credit Risk and Off-Balance Sheet Risk [Abstract]

Commitments, Contingencies, Concentration of Credit Risk and Off-Balance Sheet Risk

5. Commitments, Contingencies, Concentration of Credit Risk and Off-Balance Sheet Risk

The Company conducts business with brokers and dealers that are primarily headquartered in New York and Los Angeles and are members of the major securities exchanges. Banking activities are conducted with a firm headquartered in the Boston area.

In the normal course of business, investment activities involve executions, settlement and financing of various transactions resulting in receivables from, and payables to, brokers, dealers, and the custodian. These activities may expose the Company to risk in the event that such parties are unable to fulfill contractual obligations. Management does not anticipate any material losses from counterparties with whom it conducts business. Consistent with standard business practice, the Company enters into contracts that contain a variety of indemnifications and is engaged from time to time in various legal actions. The maximum exposure under these arrangements and activities is unknown. However, management expects the risk of material loss to be remote.

5. Commitments, Contingencies, Concentration of Credit Risk and Off-Balance Sheet Risk (Continued)

The Schedule of Investments includes certain revolving loan facilities and other commitments with unfunded balances at September 30, 2026 and December 31, 2025 as follows:


		Unfunded Balances
Issuer	Maturity	September 30, 2026		December 31, 2025
Alcami Corporation	12/21/2029	$	128,322	$	101,054
ALCV Purchaser, Inc. (AutoLenders)	2/25/2026	NA			46,318
Alpine Acquisition Corp II (48Forty)	1/14/2031		39,810	NA
Alpine Acquisition Corp II (48Forty)	1/14/2031		159,240	NA
Alpine Acquisition Corp II (48Forty)	11/30/2029	NA			53,604
AmeriLife Holdings, LLC	8/31/2028		205,302		228,114
Applause App Quality, Inc.	10/24/2029		72,727		64,646
Appriss Health, LLC (PatientPing)	5/6/2030		76,086		76,086
Aras Corporation	4/13/2029		85,322		79,228
Beekeeper Buyer Inc. (Archway)	6/30/2031		300,649		300,649
Bluefin Holding, LLC (Allvue)	9/12/2029		405,340		405,340
Brown & Settle, Inc.	5/16/2030		73,441		73,441
CBI-Gator Acquisition, LLC	10/25/2027	NA			9,405
Cherry Bekaert Advisory, LLC	6/30/2030	NA			190,576
Chronicle Parent LLC (Lexitas)	4/15/2031		1,024,235		1,194,403
Chronicle Parent LLC (Lexitas)	4/15/2031		433,698		433,698
Civicplus LLC	8/24/2030		459,485		459,485
Civicplus LLC	8/23/2030		218,129		218,129
Clever Devices Ltd.	6/12/2030	NA			137,255
Community Merger Sub Debt LLC (CINC Systems)	1/18/2030		171,429		214,286
Crewline Buyer, Inc. (New Relic)	11/8/2030		369,286		369,286
DNAnexus, Inc	12/18/2029	NA			700,000
Douglas Holdings, Inc (Docupace)	8/27/2030	NA			78,957
Douglas Holdings, Inc (Docupace)	8/27/2030	NA			13,595
Douglas Holdings, Inc (Docupace)	8/27/2030		35,889		35,889
Dragos, Inc.	6/30/2030	NA			1,505,550
Dragos, Inc.	6/30/2030	NA			552,770
EBS Parent Holdings Inc. (The Difference Card)	7/1/2032		268,838		350,658
EBS Parent Holdings Inc. (The Difference Card)	7/1/2032		116,886		116,886
e-Discovery Acquireco, LLC (Reveal)	8/23/2029		150,168		262,794
Emerald Technologies (U.S.) AcquisitionCo, Inc.	10/1/2029		355		355
ESO Solutions, Inc.	5/3/2027	NA			24,456
Express Wash Acquisition Company, LLC (Whistle)	4/10/2031		167,278		167,278
FirstUp, Inc	7/13/2027	NA			198,790
Flexport Capital, LLC	6/30/2029		1,826,734		1,826,734
Foreside Financial Group, LLC	9/30/2029		38,277		38,277
Fusion Holding Corp. (Finalsite)	9/15/2028		340,879		153,395
Fusion Risk Management, Inc.	5/22/2029		252,696		308,851
G-3 Apollo Acquisition Corp (Appriss Retail)	3/10/2031	NA			430,157
G-3 Apollo Acquisition Corp (Appriss Retail)	3/10/2031		430,157		387,141
Griffon Bidco Inc. (Layerzero)	7/31/2031		401,480		401,480
Griffon Bidco Inc. (Layerzero)	7/31/2031		401,480		401,480
GTY Technology Holdings Inc.	7/9/2029		242,001		318,422
Honey Intermediate, Inc. (iLobby) (Canada)	9/30/2030		531,371		531,371
Huckabee Acquisition, LLC (MOREgroup)	1/16/2030	NA			161,290
Huckabee Acquisition, LLC (MOREgroup)	1/16/2030		48,387		96,774
ICIMS, Inc.	8/18/2028		230,015		301,110
Integrate.com, Inc.	12/17/2027	NA			7,528
Integrity Marketing Acquisition, LLC	8/25/2028		2,790,931		2,790,931
Intercept Bidco, Inc.	6/3/2030	NA			166,667
Intercept Bidco, Inc.	6/3/2030		111,111		111,111

Unfunded Balances

Issuer

Maturity

September 30, 2026

December 31, 2025

JF Acquisition, LLC (JF Petroleum)

6/18/2030

408,401

609,461

JF Acquisition, LLC (JF Petroleum)

6/18/2030

376,986

Kid Distro Holdings, LLC

10/1/2029

74,263

Lighthouse Parent Holdings, Inc (Aperture)

12/20/2031

299

18,077

Lighthouse Parent Holdings, Inc (Aperture)

12/20/2031

11,538

LJ Avalon Holdings, LLC (Ardurra)

2/1/2029

123,523

Logicmonitor Inc.

11/19/2031

101,496

Madison Logic Holdings, Inc.

12/30/2027

82,677

Modigent, LLC (Pueblo)

5/23/2028

265,353

MRO Parent Corporation

6/9/2032

223,044

MRO Parent Corporation

6/9/2032

223,044

Oak Purchaser, Inc. (DaySmart)

5/31/2028

69,335

80,891

Pluralsight, Inc.

8/22/2029

86,293

PMA Parent Holdings, LLC

1/31/2031

564,581

Serrano Parent, LLC (Sumo Logic)

5/12/2030

217,565

388,509

Smarsh, Inc.

2/16/2029

62,005

75,059

Smarsh, Inc.

2/18/2029

190,421

244,757

Spark Buyer, LLC (Sparkstone)

10/15/2031

224,138

Spark Buyer, LLC (Sparkstone)

10/15/2031

45,948

73,966

SRS Acquiom Holdings LLC

1/14/2032

324,021

Stonebridge Companies, LLC

5/16/2031

371,129

Stonebridge Companies, LLC

5/16/2030

247,419

Streamland Media Midco LLC

3/31/2029

55,062

Suited Connector, LLC

3/29/2030

252,265

Supergoop, LLC

12/29/2027

2,578

29,105

Syndigo, LLC

9/2/2032

299,683

356,765

Thunder Purchaser, Inc. (Vector Solutions)

6/30/2028

204,439

Titan Home Improvement, LLC (Renuity)

5/31/2030

139,535

Titan Home Improvement, LLC (Renuity)

5/31/2030

95,349

116,279

Trintech, Inc.

7/25/2029

196,336

Vortex Companies, LLC

9/4/2029

392,601

Vortex Companies, LLC

9/4/2029

65,972

108,067

Zendesk Inc.

11/21/2031

252,463

Zendesk Inc.

11/22/2028

302,992

Zilliant Incorporated

12/21/2027

100,000

Total Unfunded Balances

17,602,746

23,815,548