0001193125-23-140710 | 10-Q | XBRL Viewer

Fair Value (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the balances of assets measured at fair value on a recurring basis, as of March 31, 2023 and December 31, 2022:

Fair Value Measurements

As of March 31, 2023


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,256,830	$	—	$	1,256,830
Equipment Financing		—		—		258,044		—		258,044
Preferred Equity		—		—		3,801		—		3,801
Common Equity/Equity Interests/Warrants		333		—		559,919		9,534		569,786

Total Investments $	$	333	$	—	$	2,078,594	$	9,534	$	2,088,461

Fair Value Measurements

As of December 31, 2022


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,245,414	$	—	$	1,245,414
Equipment Financing		—		—		265,952		—		265,952
Preferred Equity		—		—		3,801		—		3,801
Common Equity/Equity Interests/Warrants		483		—		561,600		9,426		571,509

Total Investments $	$	483	$	—	$	2,076,767	$	9,426	$	2,086,676

In accordance with ASC

820-10,

certain investments that are measured using the net asset value per share (or its equivalent) as a practical expedient for fair value have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities. The portfolio investment in this category is SSLP. See Note 17 for more information on this investment, including its investment strategy and the Company’s unfunded equity commitment to SSLP. This investment is not redeemable by the Company absent an election by the members of the entity to liquidate all investments and distribute the proceeds to the members.

Summary of Changes in Fair Value of Level 3 Assets and Liabilities

The following tables provide a summary of the changes in fair value of Level 3 assets for the three months ended March 31, 2023, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets still held at March 31, 2023:

Fair Value Measurements Using Level 3 Inputs


	Senior Secured Loans			Equipment Financing			Preferred Equity			Common Equity/ Equity Interests/ Warrants			Total

Fair value, December 31, 2022	$	1,245,414		$	265,952		$	3,801		$	561,600		$	2,076,767
Total gains or losses included in earnings:
Net realized gain		824			—			—			—			824
Net change in unrealized gain (loss)		(13,469	)		60			(61	)		(2,360	)		(15,830	)
Purchase of investment securities		153,570			7,346			61			679			161,656
Proceeds from dispositions of investment securities		(129,509	)		(15,314	)		—			—			(144,823	)
Transfers in/out of Level 3		—			—			—			—			—

Fair value, March 31, 2023	$	1,256,830		$	258,044		$	3,801		$	559,919		$	2,078,594

Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized gain (loss)	$	(13,081	)	$	60		$	(61	)	$	(2,360	)	$	(15,442	)

While the Company has not made an election to apply the fair value option of accounting to any of its current debt obligations, if the Company’s debt obligations were carried at fair value at March 31, 2023, the fair value of the Credit Facility, SPV Credit Facility, 2024 Unsecured Notes, 2025 Unsecured Notes, 2026 Unsecured Notes, 2027 Unsecured Notes and 2027 Series F Unsecured Notes would be $488,000, $164,200, $118,750, $79,688, $67,875, $42,750 and $117,788, respectively.

The following table provides a summary of the changes in fair value of Level 3 assets for the year ended December 31, 2022, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets still held at December 31, 2022:

Fair Value Measurements Using Level 3 Inputs


	Senior Secured Loans			Equipment Financing			Preferred Equity			Common Equity/ Equity Interests/ Warrants			Total

Fair value, December 31, 2021	$	939,690		$	273,795		$	5,630		$	450,381		$	1,669,496
Total gains or losses included in earnings:
Net realized gain (loss)		(36,244	)		—			—			6			(36,238	)
Net change in unrealized loss		(8,065	)		(6,924	)		(706	)		(5,048	)		(20,743	)
Purchase of investment securities(1)		796,389			84,168			266			116,272			997,095
Proceeds from dispositions of investment securities		(446,356	)		(85,087	)		(1,389	)		(11	)		(532,843	)
Transfers in/out of Level 3		—			—			—			—			—

Fair value, December 31, 2022	$	1,245,414		$	265,952		$	3,801		$	561,600		$	2,076,767

Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized loss	$	(8,920	)	$	(6,924	)	$	(706	)	$	(5,048	)	$	(21,598	)

(1) Includes positions acquired from SUNS as a result of the Mergers.

Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3)

The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities measured using significant unobservable inputs (Level 3) for the year ended

December 31, 2022:


2022 Unsecured Notes	For the year ended December 31, 2022

Beginning fair value	$	150,000
Net realized (gain) loss		—
Net change in unrealized (gain) loss		—
Borrowings		—
Repayments		(150,000	)
Transfers in/out of Level 3		—

Ending fair value	$	—

Summary of Quantitative Information about the Company's Level 3 Asset and Liability

Quantitative information about the Company’s Level 3 asset and liability fair value

measurements

as of March 31, 2023 is

summarized

in the
table below:

Asset or

Liability

Fair Value at

March 31, 2023

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,209,664

47,166

Income Approach

Market Multiple

(1)

Market Yield

Comparable Multiple

9.3

% –

18.2

% (

12.0

0.1x-

21.4x (

10.0x

)

Equipment Financing

Asset

137,224

120,820

Income Approach

Market Multiple

(2)

Market Yield

Comparable Multiple

8.5

% –

9.8

% (

9.8

1.1x-

1.4x

(

1.2

)

Preferred Equity

Asset

3,801

Income Approach

Market Yield

5.0

% –

5.0

% (

5.0

Common Equity/Equity Interests/Warrants

Asset

149,439

410,480

Market Multiple

(3)

Market Approach

Comparable Multiple

Return on Equity

7.8

x –

9.8

x (

8.8

5.5

% –

35.2

% (

10.4

(1)	Investments are valued using a sum-of-the parts analysis, using expected revenue multiples for certain segments of the businesses and expected EBITDA multiples for certain segments of the businesses.

(2)	Includes $120,820 of investments valued using an implied multiple.

(3)	Includes $995 of investments valued using a Black-Scholes model and $148,444 of investments valued using an EBITDA multiple.

Quantitative information about the Company’s Level 3 asset and liability fair value measurements as of December 31, 2022 is

summarized

in the table below:

Asset or

Liability

Fair Value at

December 31, 2022

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,212,842

32,572

Income Approach
Market Multiple

(1)

Market Yield

Comparable Multiple

9.4% – 18.2% (12.0%)

0.1x-21.4x (12.4x)

Equipment Financing

Asset

145,132

120,820

Income Approach
Market Multiple

(2)

Market Yield

Comparable Multiple

8.5% – 9.7% (9.7%)

1.1x-1.4x (1.2x)

Preferred Equity

Asset

3,801

Income Approach

Market Yield

5.0% – 5.0% (5.0%)

Common Equity/Equity Interests/Warrants

Asset

149,120

412,480

Market Multiple

(3)

Market Approach

Comparable Multiple

Return on Equity

7.8x – 9.8x (8.8x)

6.6% – 35.2% (9.2%)

(1)	Investments are valued using a sum-of-the parts analysis, using expected revenue multiples for certain segments of the businesses and expected EBITDA multiples for certain segments of the businesses.

(2)	Includes $120,820 of investments valued using an implied multiple.

(3)	Includes $676 of investments valued using a Black-Scholes model and $148,444 of investments valued using an EBITDA multiple.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	May 09, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	May 10, 2023	Apr. 04, 2023	May 03, 2022
Subsequent Event [Line Items]
Authorized, share repurchase program							$ 50,000
Stock repurchased during period, value		$ 10	$ 0	$ 3,038
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchased during period, value	$ 3,048
Subsequent Event [Member] \| Common Stock [Member]
Subsequent Event [Line Items]
Authorized, share repurchase program	$ 50,000
Subsequent Event [Member] \| Board [Member]
Subsequent Event [Line Items]
Dividends payable, amount per share					$ 0.136667	$ 0.136667

Consolidated Statements of Changes In Net Assets - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (decrease) in net assets resulting from operations:
Net investment income	$ 22,147	$ 13,478
Net realized gain	687	30
Net change in unrealized loss	(16,010)	(12,045)
Net increase in net assets resulting from operations	6,824	1,463
Distributions to stockholders:
From net investment income	(22,147)	(17,327)
From return of capital	(220)	0
Net distributions to stockholders	(22,367)	(17,327)
Capital transactions (see note 12):
Repurchases of common stock	(10)	0
Total decrease in net assets	(15,553)	(15,864)
Net assets at beginning of period	999,731	842,281
Net assets at end of period	$ 984,178	$ 826,417
Capital stock activity (see note 12):
Repurchases of common stock	(746)	0

Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset and Liability (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Senior Secured Loans \| Income Approach \| Market Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 1,209,664	$ 1,212,842
Principal Valuation Technique/Methodology	Income Approach	Income Approach
Unobservable Input	Market Yield	Market Yield
Senior Secured Loans \| Market Multiple \| Comparable Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 47,166	$ 32,572
Principal Valuation Technique/Methodology	Market Multiple	Market Multiple
Unobservable Input	Comparable Multiple
Senior Secured Loans \| Market Multiple \| Return on Equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Input		Comparable Multiple
Equipment Financing \| Income Approach \| Market Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 137,224	$ 145,132
Principal Valuation Technique/Methodology	Income Approach	Income Approach
Unobservable Input	Market Yield	Market Yield
Equipment Financing \| Market Multiple \| Comparable Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 120,820	$ 120,820
Principal Valuation Technique/Methodology	Market Multiple	Market Multiple
Unobservable Input	Comparable Multiple	Comparable Multiple
Preferred Equity \| Income Approach \| Market Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 3,801	$ 3,801
Principal Valuation Technique/Methodology	Income Approach	Income Approach
Unobservable Input	Market Yield	Market Yield
Common Equity/Equity Interests/Warrants \| Market Multiple \| Comparable Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 149,439	$ 149,120
Principal Valuation Technique/Methodology	Market Multiple	Market Multiple
Unobservable Input	Comparable Multiple	Comparable Multiple
Common Equity/Equity Interests/Warrants \| Market Approach \| Return on Equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 410,480	$ 412,480
Principal Valuation Technique/Methodology	Market Approach	Market Approach
Unobservable Input	Return on Equity	Return on Equity

Kingsbridge Holdings, LLC	3 Months Ended
Kingsbridge Holdings, LLC	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Kingsbridge Holdings, LLC	Note 13. Kingsbridge Holdings, LLC On November 3, 2020, the Company acquired 87.5% of the equity securities of Kingsbridge Holdings, LLC (“KBH”) through KBH Topco LLC (“KBHT”), a Delaware corporation. KBH is a residual focused independent mid-ticket lessor of equipment primarily to U.S. investment grade companies. The Company invested $216,596 to effect the transaction, of which $136,596 was invested to acquire 87.5% of KBHT’s equity and $80,000 in KBH’s debt. The existing management team of KBH committed to continuing to lead KBH after the transaction. Following the transaction, the Company owns 87.5% of KBHT equity and the KBH management team owns the remaining 12.5% of KBHT’s equity. As of March 31, 2023 and December 31, 2022, KBHT had total assets of $778,489 and $777,151, respectively. For the same periods, debt recourse to KBHT totaled $225,119 and $222,094, respectively, and non-recourse debt totaled $360,090 and $353,128, respectively. None of the debt is recourse to the Company. For the three months ended March 31, 2023 and 2022, KBHT had net income of $2,627 and $3,399, respectively, on gross income of $68,007 and $66,426, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in KBHT’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that KBHT will be able to maintain consistent dividend payments to us.

SLR Healthcare ABL	3 Months Ended
SLR Healthcare ABL	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
SLR Healthcare ABL	Note 14. SLR Healthcare ABL SUNS acquired an equity interest in SLR Healthcare ABL, f/k/a Gemino Healthcare Finance, LLC (“SLR Healthcare”) on September 30, 2013. SLR Healthcare is a commercial finance company that originates, underwrites, and manages primarily secured, asset-based loans for small and mid-sized companies operating in the healthcare industry. SUNS initial investment in SLR Healthcare ABL was $ 32,839 . The management team of SLR Healthcare co-invested in the transaction and continues to lead SLR Healthcare. As of September 30, 2022, SLR Healthcare’s management team and the Company own approximately 7 % and 93 % of the equity in SLR Healthcare, respectively. SLRC acquired SLR Healthcare in connection with the Mergers on April 1, 2022. Concurrent with the closing of the transaction, SLR Healthcare entered into a new, four-year , non-recourse, $ 100,000 credit facility with non-affiliates, which was expandable to $ 150,000 under its accordion feature. Effective March 31, 2014, the credit facility was expanded to $ 105,000 and again on June 27, 2014 to $ 110,000 . On May 27, 2016, SLR Healthcare entered into a new $ 125,000 credit facility which replaced the previously existing facility. The new facility has similar terms as compared to the previous facility and includes an accordion feature increase to $ 200,000 and had a maturity date of May 27, 2020 . On June 28, 2019, this $ 125,000 facility was amended, extending the maturity date to June 28, 2023 . On March 31, 2023, the facility was again amended, adjusting capacity to $ 100,000 and extending the maturity date to March 31, 2026 . SLR Healthcare currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of March 31, 2023, the portfolio totaled approximately $258,600 of commitments with a total net investment in loans of $105,667 on total assets of $113,753. As of December 31, 2022, the portfolio totaled approximately $242,106 of commitments with a total net investment in loans of $92,383 on total assets of $108,705. At March 31, 2023, the portfolio consisted of 41 issuers with an average balance of approximately $2,577 versus 41 issuers with an average balance of approximately $2,253 at December 31, 2022. All of the commitments in SLR Healthcare’s portfolio are floating-rate, senior-secured, cash-pay loans. SLR Healthcare’s credit facility, which is non-recourse to us, had approximately $83,500 and $77,000 of borrowings outstanding at March 31, 2023 and December 31, 2022, respectively. For the three months ended March 31, 2023 and 2022, SLR Healthcare had net income of $1,120 and $873, respectively, on gross income of $3,836 and $2,391, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions.

Financial Highlights (Tables)

3 Months Ended

Mar. 31, 2023

Investment Company, Financial Highlights [Abstract]

Schedule of financial highlights

The following is a schedule of financial highlights for the three months ended March 31, 2023 and 2022:


	Three months ended March 31, 2023			Three months ended March 31, 2022
Per Share Data: (a)
Net asset value, beginning of year	$	18.33		$	19.93

Net investment income		0.41			0.32
Net realized and unrealized loss		(0.29	)		(0.28	)

Net increase in net assets resulting from operations		0.12			0.04
Distributions to stockholders:
From distributable earnings		(0.41	)		(0.41	)
From return of capital		(0.00	)		—

Net asset value, end of period	$	18.04		$	19.56

Per share market value, end of period	$	15.04		$	18.13
Total Return (b)(c)		11.01	%		0.60	%
Net assets, end of period	$	984,178		$	826,417
Shares outstanding, end of period		54,554,634			42,260,826
Ratios to average net assets (c):
Net investment income		2.22	%		1.60	%

Operating expenses		1.61	%*		1.33	%
Interest and other credit facility expenses		1.53	%		0.99	%

Total expenses		3.14	%*		2.32	%

Average debt outstanding	$	1,075,344		$	815,194
Portfolio turnover ratio		7.0	%		4.1	%

(a)	Calculated using the average shares outstanding method.

(b)

Total return is based on the change in market price per share during the period and takes into account distributions, if any, reinvested in accordance with the dividend reinvestment plan. The market price per share as of December 31, 2022 and December 31, 2021 was $13.91 and $18.43, respectively. Total return does not include a sales load.

(c)	Not annualized for periods less than one year.

The ratio of operating expenses to average net assets and the ratio of total expenses to average net assets is shown net of the performance-based incentive fee waiver (see note 3). For the three months ended March 31, 2023, the ratios of operating expenses to average net assets and total expenses to average net assets would be 1.62% and 3.15%, respectively, without the performance-based incentive fee waiver.

SLR Senior Lending Program LLC - Summary financial information for SSLP (Parenthetical) (Details) - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

Condensed Financial Statements, Captions [Line Items]

Cost

$ 2,577,464

$ 2,552,177

SLR Senior Lending Program LLC [Member]

Condensed Financial Statements, Captions [Line Items]

Cost

^[1]

$ 44,686

$ 18,032

[1]	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.

Organization - Additional Information (Details) - $ / shares	Apr. 01, 2022	Feb. 10, 2010	Mar. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued, price per share			$ 14.02	$ 13.98
IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period, shares		5,680,000
Over-Allotment Option [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share price		$ 18.5
Private Placement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period, shares		600,000
Share price		$ 18.5
Common Stock [Member] \| SUNS Company Merger [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued, price per share	$ 0.7796
Stock issued during period, shares, acquisitions	12,511,825

SLR Senior Lending Program LLC (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

SSLP Portfolio

SSLP Portfolio as of March 31, 2023


Description	Industry		Spread Above Index (1)		Floor			Interest Rate (2)			Maturity Date		Par Amount		Cost		Fair Value (3)
Aegis Toxicology Sciences Corporation (4)		Health Care Providers & Services		L+550		1.00	%		10.36	%		5/9/25	$	2,987	$	2,987	$	2,987
Atria Wealth Solutions, Inc. (4)		Diversified Financial Services		S+600		1.00	%		11.16	%		2/29/24		2,487		2,487		2,487
BayMark Health Services, Inc. (4)		Health Care Providers & Services		L+500		1.00	%		10.16	%		6/11/27		2,985		2,985		2,985
ENS Holdings III Corp. & ES Opco USA LLC (4)		Trading Companies & Distributors		S+475		1.00	%		9.75	%		12/31/25		1,094		1,094		1,094
Foundation Consumer Brands, LLC (4)		Personal Products		L+550		1.00	%		10.38	%		2/12/27		2,879		2,879		2,879
Higginbotham Insurance Agency, Inc. (4)		Insurance		L+525		0.75	%		10.09	%		11/25/26		1,297		1,297		1,297
High Street Buyer, Inc. (4)		Insurance		S+600		0.75	%		11.05	%		4/16/28		2,487		2,487		2,487
iCIMS, Inc. (4)		Software		S+725		0.75	%		12.05	%		8/18/28		3,000		2,954		3,000
Kid Distro Holdings, LLC (4)		Software		L+575		1.00	%		10.91	%		10/1/27		2,985		2,985		2,985
PhyNet Dermatology LLC (4)		Health Care Providers & Services		S+625		1.00	%		11.66	%		8/16/24		2,490		2,490		2,490
Pinnacle Treatment Centers, Inc. (4)		Health Care Providers & Services		S+650		1.00	%		11.79	%		1/2/26		2,494		2,494		2,494
Plastics Management, LLC (4)		Health Care Providers & Services		S+500		1.00	%		9.89	%		8/18/27		2,693		2,667		2,693
RQM+ Corp. (4)		Life Sciences Tools & Services		S+575		1.00	%		10.97	%		8/12/26		2,500		2,500		2,500
RSC Acquisition, Inc. (4)		Insurance		S+550		0.75	%		10.24	%		11/1/26		1,995		1,995		1,995
RxSense Holdings LLC (4)		Diversified Consumer Services		S+500		1.00	%		9.83	%		3/13/26		2,992		2,992		2,992
SunMed Group Holdings, LLC (4)		Health Care Equipment & Supplies		L+575		0.75	%		10.91	%		6/16/28		2,494		2,494		2,494
Tilley Distribution, Inc. (4)		Trading Companies & Distributors		S+550		1.00	%		10.55	%		12/31/26		2,494		2,494		2,494
Urology Management Holdings, Inc. (4)		Health Care Providers & Services		S+625		1.00	%		11.36	%		6/15/26		2,477		2,405		2,403

															$	44,686	$	44,756

(1)	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR or SOFR. These instruments are typically subject to a LIBOR or SOFR floor.

(2)	Floating rate debt investments typically bear interest at a rate determined by reference to either the LIBOR (“L”) or SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current interest rate in effect as of March 31, 2023.

(3)	Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.

(4)	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.

SSLP Portfolio as of December 31, 2022 (audited)


Description	Industry		Spread Above Index (1)	Floor		Interest Rate (2)			Maturity Date		Par Amount		Cost		Fair Value (3)
Atria Wealth Solutions, Inc. (4)		Diversified Financial Services	S+600	1.00	%		10.84	%		2/29/24	$	2,494	$	2,494	$	2,494
BayMark Health Services, Inc. (4)		Health Care Providers & Services	L+500	1.00	%		9.73	%		6/11/27		2,992		2,992		2,992
ENS Holdings III Corp. & ES Opco USA LLC (4)		Trading Companies & Distributors	L+475	1.00	%		9.43	%		12/31/25		1,097		1,097		1,097
Foundation Consumer Brands, LLC (4)		Personal Products	L+550	1.00	%		10.15	%		2/12/27		2,963		2,963		2,963
High Street Buyer, Inc. (4)		Insurance	L+600	0.75	%		10.73	%		4/16/28		2,494		2,494		2,494
Ivy Fertility Services, LLC (4)		Health Care Providers & Services	L+625	1.00	%		10.39	%		2/25/26		3,000		3,000		3,030
Kid Distro Holdings, LLC (4)		Software	L+575	1.00	%		10.48	%		10/1/27		2,992		2,992		2,992

													$	18,032	$	18,062

(

)

Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR or SOFR. These instruments are typically subject to a LIBOR or SOFR floor.

(

)

Floating rate debt investments typically bear interest at a rate determined by reference to either the LIBOR (“L”) or SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current interest rate in effect as of December 31, 2022.

(

)

Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.

(

)

The Company also holds this security on its Consolidated Statements of Assets and Liabilities.

Summary financial information for SSLP

Below is certain summarized financial information for SSLP as of March 31, 2023 and December 31, 2022 and for the three months ended March 31, 2023 and for the period December 1, 2022 (commencement of operations) through December 31, 2022:


	March 31, 2023		December 31, 2022 (audited)
Selected Balance Sheet Information for SSLP:
Investments at fair value (cost $44,686 and $18,032, respectively)	$	44,756	$	18,062
Cash and other assets		1,244		1,043

Total assets	$	46,000	$	19,105

Debt outstanding	$	26,623	$	—
Interest payable and other credit facility related expenses		170		165
Accrued expenses and other payables		139		89

Total liabilities	$	26,932	$	254

Members’ equity	$	19,068	$	18,851

Total liabilities and members’ equity	$	46,000	$	19,105


	For the three months ended March 31, 2023		For the period December 1, 2022 (commencement of operations) to December 31, 2022 (audited)
Selected Income Statement Information for SSLP:
Interest income	$	1,009	$	152

Service fees*		19	$	4
Interest and other credit facility expenses		805		166
Organizational costs		—		73
Other general and administrative expenses		38		88

Total expenses		862		331

Net investment income (loss)	$	147	$	(179	)

Realized gain on investments		30		—
Net change in unrealized gain on investments		40		30

Net realized and unrealized gain on investments	$	70		30

Net income (loss)	$	217	$	(149	)

*	Service fees are included within the Company’s Consolidated Statements of Operations as other income.

SLR Senior Lending Program LLC

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

SLR Senior Lending Program LLC

Note 17. SLR Senior Lending Program LLC

On October 12, 2022, the Company entered into an amended and restated limited liability company agreement with Sunstone Senior Credit L.P. (the “Investor”) to create a joint venture vehicle, SLR Senior Lending Program LLC (“SSLP”). SSLP is expected to invest primarily in senior secured cash flow loans. The Company and the Investor each have made initial equity commitments of $50,000, resulting in a total equity commitment of $100,000. Investment decisions and all material decisions in respect of SSLP must be approved by representatives of the Company and the Investor.

On December 1, 2022, SSLP commenced operations. On December 12, 2022, SSLP as servicer and SLR Senior Lending Program SPV LLC (“SSLP SPV”), a newly formed wholly owned subsidiary of SSLP, as borrower entered into a $100,000 senior secured revolving credit facility (the “SSLP Facility”) with Goldman Sachs Bank USA acting as administrative agent. The SSLP Facility is scheduled to mature on December 12, 2027. The SSLP Facility generally bears interest at a rate of SOFR plus 3.25%. SSLP and SSLP SPV, as applicable, have made certain customary representations and warranties, and are required to comply with various covenants, including leverage restrictions, reporting requirements and other customary requirements for similar credit facilities. The SSLP Facility also includes usual and customary events of default for credit facilities of this nature. At March 31, 2023, there were $27,900 of borrowings outstanding on the SSLP Facility.

As of March 31, 2023, the Company and the Investor had contributed combined equity capital in the amount of $19,000. As of March 31, 2023, the Company and the Investors’ remaining commitments to SSLP totaled $40,500 and $40,500, respectively. The Company, along with the Investor, controls the funding of SSLP and SSLP may not call the unfunded commitments of the Company or the Investor without the approval of both the Company and the Investor.

As of March 31, 2023 and December 31, 2022, SSLP had total assets of $46,000 and $19,105, respectively. For the same periods, SSLP’s portfolio consisted of floating rate senior secured loans to 18 and 7 different borrowers, respectively. For the three months ended March 31, 2023, SSLP invested $29,829 in 12 portfolio companies. Investments prepaid totaled $3,215 for the three months ended March 31, 2023. For the period December 1, 2022 (commencement of operations) through December 31, 2022, SSLP invested $18,100 in 7 portfolio companies. Investments prepaid totaled $68 for the period December 1, 2022 (commencement of operations) through December 31, 2022.

SSLP Portfolio as of March 31, 2023


Description	Industry		Spread Above Index (1)		Floor			Interest Rate (2)			Maturity Date		Par Amount		Cost		Fair Value (3)
Aegis Toxicology Sciences Corporation (4)		Health Care Providers & Services		L+550		1.00	%		10.36	%		5/9/25	$	2,987	$	2,987	$	2,987
Atria Wealth Solutions, Inc. (4)		Diversified Financial Services		S+600		1.00	%		11.16	%		2/29/24		2,487		2,487		2,487
BayMark Health Services, Inc. (4)		Health Care Providers & Services		L+500		1.00	%		10.16	%		6/11/27		2,985		2,985		2,985
ENS Holdings III Corp. & ES Opco USA LLC (4)		Trading Companies & Distributors		S+475		1.00	%		9.75	%		12/31/25		1,094		1,094		1,094
Foundation Consumer Brands, LLC (4)		Personal Products		L+550		1.00	%		10.38	%		2/12/27		2,879		2,879		2,879
Higginbotham Insurance Agency, Inc. (4)		Insurance		L+525		0.75	%		10.09	%		11/25/26		1,297		1,297		1,297
High Street Buyer, Inc. (4)		Insurance		S+600		0.75	%		11.05	%		4/16/28		2,487		2,487		2,487
iCIMS, Inc. (4)		Software		S+725		0.75	%		12.05	%		8/18/28		3,000		2,954		3,000
Kid Distro Holdings, LLC (4)		Software		L+575		1.00	%		10.91	%		10/1/27		2,985		2,985		2,985
PhyNet Dermatology LLC (4)		Health Care Providers & Services		S+625		1.00	%		11.66	%		8/16/24		2,490		2,490		2,490
Pinnacle Treatment Centers, Inc. (4)		Health Care Providers & Services		S+650		1.00	%		11.79	%		1/2/26		2,494		2,494		2,494
Plastics Management, LLC (4)		Health Care Providers & Services		S+500		1.00	%		9.89	%		8/18/27		2,693		2,667		2,693
RQM+ Corp. (4)		Life Sciences Tools & Services		S+575		1.00	%		10.97	%		8/12/26		2,500		2,500		2,500
RSC Acquisition, Inc. (4)		Insurance		S+550		0.75	%		10.24	%		11/1/26		1,995		1,995		1,995
RxSense Holdings LLC (4)		Diversified Consumer Services		S+500		1.00	%		9.83	%		3/13/26		2,992		2,992		2,992
SunMed Group Holdings, LLC (4)		Health Care Equipment & Supplies		L+575		0.75	%		10.91	%		6/16/28		2,494		2,494		2,494
Tilley Distribution, Inc. (4)		Trading Companies & Distributors		S+550		1.00	%		10.55	%		12/31/26		2,494		2,494		2,494
Urology Management Holdings, Inc. (4)		Health Care Providers & Services		S+625		1.00	%		11.36	%		6/15/26		2,477		2,405		2,403

															$	44,686	$	44,756

(1)	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR or SOFR. These instruments are typically subject to a LIBOR or SOFR floor.

(2)	Floating rate debt investments typically bear interest at a rate determined by reference to either the LIBOR (“L”) or SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current interest rate in effect as of March 31, 2023.

(3)	Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.

(4)	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.

SSLP Portfolio as of December 31, 2022 (audited)


Description	Industry		Spread Above Index (1)	Floor		Interest Rate (2)			Maturity Date		Par Amount		Cost		Fair Value (3)
Atria Wealth Solutions, Inc. (4)		Diversified Financial Services	S+600	1.00	%		10.84	%		2/29/24	$	2,494	$	2,494	$	2,494
BayMark Health Services, Inc. (4)		Health Care Providers & Services	L+500	1.00	%		9.73	%		6/11/27		2,992		2,992		2,992
ENS Holdings III Corp. & ES Opco USA LLC (4)		Trading Companies & Distributors	L+475	1.00	%		9.43	%		12/31/25		1,097		1,097		1,097
Foundation Consumer Brands, LLC (4)		Personal Products	L+550	1.00	%		10.15	%		2/12/27		2,963		2,963		2,963
High Street Buyer, Inc. (4)		Insurance	L+600	0.75	%		10.73	%		4/16/28		2,494		2,494		2,494
Ivy Fertility Services, LLC (4)		Health Care Providers & Services	L+625	1.00	%		10.39	%		2/25/26		3,000		3,000		3,030
Kid Distro Holdings, LLC (4)		Software	L+575	1.00	%		10.48	%		10/1/27		2,992		2,992		2,992

													$	18,032	$	18,062

(

)

Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR or SOFR. These instruments are typically subject to a LIBOR or SOFR floor.

(

)

(

)

Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.

(

)

The Company also holds this security on its Consolidated Statements of Assets and Liabilities.


	March 31, 2023		December 31, 2022 (audited)
Selected Balance Sheet Information for SSLP:
Investments at fair value (cost $44,686 and $18,032, respectively)	$	44,756	$	18,062
Cash and other assets		1,244		1,043

Total assets	$	46,000	$	19,105

Debt outstanding	$	26,623	$	—
Interest payable and other credit facility related expenses		170		165
Accrued expenses and other payables		139		89

Total liabilities	$	26,932	$	254

Members’ equity	$	19,068	$	18,851

Total liabilities and members’ equity	$	46,000	$	19,105


	For the three months ended March 31, 2023		For the period December 1, 2022 (commencement of operations) to December 31, 2022 (audited)
Selected Income Statement Information for SSLP:
Interest income	$	1,009	$	152

Service fees*		19	$	4
Interest and other credit facility expenses		805		166
Organizational costs		—		73
Other general and administrative expenses		38		88

Total expenses		862		331

Net investment income (loss)	$	147	$	(179	)

Realized gain on investments		30		—
Net change in unrealized gain on investments		40		30

Net realized and unrealized gain on investments	$	70		30

Net income (loss)	$	217	$	(149	)

*	Service fees are included within the Company’s Consolidated Statements of Operations as other income.

Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2021
Debt Instrument [Line Items]
Face Amount	$ 1,122,200	$ 1,093,200
Total	1,115,522	1,085,998
Credit Facility
Debt Instrument [Line Items]
Face Amount	488,000	393,000
Credit Facility, Carrying Value	483,547	388,254
SPV Credit Facility
Debt Instrument [Line Items]
Face Amount	164,200	155,200
SPV Credit Facility, Carrying Value	163,367	154,302
2023 Unsecured Notes
Debt Instrument [Line Items]
Face Amount	0	75,000
Unsecured Debt	0	74,979
2024 Unsecured Notes
Debt Instrument [Line Items]
Face Amount	125,000	125,000
Unsecured Debt	124,491	124,421
2025 Unsecured Notes
Debt Instrument [Line Items]
Face Amount	85,000	85,000
Unsecured Debt	84,654	84,613
2026 Unsecured Notes
Debt Instrument [Line Items]
Face Amount	75,000	75,000
Unsecured Debt	74,527	74,498
2027 Unsecured Notes
Debt Instrument [Line Items]
Face Amount	50,000	50,000
Unsecured Debt	49,956	49,953
2027 Series F Unsecured Notes
Debt Instrument [Line Items]
Face Amount	135,000	135,000
Unsecured Debt	$ 134,980	$ 134,978

Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Instruments [Abstract]

Schedule of Long-term Debt Instruments

Our debt obligations consisted of the following as of March 31, 2023 and December 31, 2022:


	March 31, 2023					December 31, 2022
Facility	Face Amount		Carrying Value			Face Amount		Carrying Value

Credit Facility	$	488,000	$	483,547	(1)	$	393,000	$	388,254	(1)
SPV Credit Facility		164,200		163,367	(2)		155,200		154,302	(2)
2023 Unsecured Notes		—		—			75,000		74,979	(3)
2024 Unsecured Notes		125,000		124,491	(4)		125,000		124,421	(4)
2025 Unsecured Notes		85,000		84,654	(5)		85,000		84,613	(5)
2026 Unsecured Notes		75,000		74,527	(6)		75,000		74,498	(6)
2027 Unsecured Notes		50,000		49,956	(7)		50,000		49,953	(7)
2027 Series F Unsecured Notes		135,000		134,980	(8)		135,000		134,978	(8)

	$	1,122,200	$	1,115,522		$	1,093,200	$	1,085,998

(1)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $4,453 and $4,746 as of March 31, 2023 and December 31, 2022, respectively.

(2)	Carrying Value equals the Face Amount net of unamortized market discount of $833 and $898 as of March 31, 2023 and December 31, 2022, respectively.

(3)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $21 as of December 31, 2022.

(4)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $509 and $579 as of March 31, 2023 and December 31, 2022, respectively.

(5)	Carrying Value equals the Face Amount net of unamortized market discount of $346 and $387 as of March 31, 2023 and December 31, 2022, respectively.

(6)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $473 and $502 as of March 31, 2023 and December 31, 2022, respectively.

(7)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $44 and $47 as of March 31, 2023 and December 31, 2022, respectively.

(8)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $20 and $22 as of March 31, 2023 and December 31, 2022, respectively.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Fair Value - Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3) (Details) - 2022 Unsecured Notes $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning fair value	$ 150,000
Net realized (gain) loss	0
Net change in unrealized (gain) loss	0
Borrowings	0
Repayments	(150,000)
Transfers in/out of Level 3	0
Ending fair value	$ 0

Net Asset Value Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Net Asset Value Per Share [Abstract]
Net assets	$ 984,178	$ 999,731	$ 826,417	$ 842,281
Net asset value per share	$ 18.04	$ 18.33	$ 19.56	$ 19.93

Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 10. Commitments and Contingencies

Off-Balance

Sheet Arrangements

The Company had unfunded debt and equity commitments to various revolving and delayed-draw term loans as well as to SLR Credit and SLR Healthcare. The total amount of these unfunded commitments as of March 31, 2023 and December 31, 2022 is $336,319 and $323,663, respectively, comprised of the following:


	March 31, 2023		December 31, 2022

SLR Credit Solutions*	$	44,263	$	44,263
Outset Medical, Inc		35,084		35,084
Apeel Technology, Inc		32,786		32,786
CC SAG Holdings Corp. (Spectrum Automotive)..		20,670		20,670
Human Interest, Inc		20,104		20,104
Glooko, Inc		17,868		17,868
ONS MSO, LLC		10,961		—
iCIMS, Inc		10,360		11,435
BDG Media, Inc		10,224		3,546
World Insurance Associates, LLC		9,190		17,117
Spectrum Pharmaceuticals, Inc.		8,771		8,771
Arcutis Biotherapeutics, Inc		8,356		8,356
Atria Wealth Solutions, Inc		8,215		8,215
Copper River Seafoods, Inc.		7,857		3,595
Ardelyx, Inc		7,752		7,752
Luxury Asset Capital, LLC		7,500		7,500
Cerapedics, Inc		6,735		6,735
United Digestive MSO Parent, LLC		5,259		—
RSC Acquisition, Inc		5,002		7,498
Kaseya, Inc		3,807		3,936
Urology Management Holdings, Inc		3,596		—
SLR Equipment Finance		3,500		1,000
Vessco Midco Holdings, LLC		3,455		3,892
Meditrina, Inc		3,367		3,367
One Touch Direct, LLC		3,185		3,069
DeepIntent, Inc		3,118		3,049
Foundation Consumer Brands, LLC		3,009		3,009
Maurices, Incorporated		2,745		4,314
Basic Fun, Inc		2,687		2,675
Kid Distro Holdings, LLC		2,650		2,650
SPAR Marketing Force, Inc.		2,551		1,338
SCP Eye Care, LLC		2,388		2,771
Ultimate Baked Goods Midco LLC		2,224		1,636
Pediatric Home Respiratory Services, LLC		1,805		1,805
Southern Orthodontic Partners Management, LLC		1,586		1,918
Montefiore Nyack Hospital		1,400		1,034
SLR Healthcare ABL*		1,400		1,400
RxSense Holdings LLC		1,250		1,250
Erie Construction Mid-west, LLC		1,248		1,248
American Teleconferencing Services, Ltd		1,137		1,090
Enverus Holdings, Inc		1,004		1,004
Orthopedic Care Partners Management, LLC.		971		1,620
Composite Technology Acquisition Corp		970		1,537
Pinnacle Treatment Centers, Inc.		960		1,745
SunMed Group Holdings, LLC		908		843
GSM Acquisition Corp		862		784
Tilley Distribution, Inc.		635		525
High Street Buyer, Inc.		327		327
ENS Holdings III Corp, LLC		317		144
TAUC Management, LLC		294		294
All State Ag Parts, LLC		6		135
Plastics Management, LLC		—		2,424
Ivy Fertility Services, LLC		—		1,571
NAC Holdings Corporation		—		1,479
Peter C. Foy & Associates Insurance Services, LLC.		—		1,094
BayMark Health Services, Inc.		—		391

Total Commitments	$	336,319	$	323,663

*	The Company controls the funding of the SLR Credit Solutions and SLR Healthcare ABL commitments and may cancel them at its discretion.

In addition to the above, please see SLR Senior Lending Program LLC herein where the Company has a remaining equity commitment of $40,500 in which the Company also controls such funding. The credit agreements of the above loan commitments contain customary lending provisions and/or are subject to the portfolio company’s achievement of certain milestones that allow relief to the Company from funding obligations for previously made commitments in instances where the underlying company experiences materially adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. As of March 31, 2023 and December 31, 2022, the Company had sufficient cash available and/or liquid securities available to fund its commitments and had reviewed them for any

appropriate

fair value adjustment.

SLR Healthcare ABL - Additional Information (Details) $ in Thousands				3 Months Ended		12 Months Ended
	Jun. 28, 2019 USD ($)	May 27, 2016 USD ($)	Sep. 30, 2013 USD ($)	Mar. 31, 2023 USD ($) issuers	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) issuers	Sep. 30, 2022	Dec. 31, 2021 USD ($)	Jun. 27, 2014 USD ($)	Mar. 31, 2014 USD ($)
Line of credit facility, expiration date					Nov. 13, 2025
Commitments and contingencies
Total assets				$ 2,556,199		$ 2,537,695
Number of issuers in business credit \| issuers				100		108
Long term debt				$ 1,115,522				$ 1,085,998
SLR Healthcare ABL Credit [Member]
Line of credit facility, maximum borrowing capacity	$ 125,000			$ 100,000					$ 110,000
Debt instrument term			4 years
Line of credit facility, expiration date	Jun. 28, 2023	May 27, 2020		Mar. 31, 2026
Total assets				$ 113,753		$ 108,705
Number of issuers in business credit \| issuers				41		41
Long-term line of credit				$ 2,577		$ 2,253
Net income (loss)				1,120	$ 873
Gross income				3,836	$ 2,391
Long term debt				83,500		77,000
Senior Secured Commitments [Member]
Commitments and contingencies				258,600		242,106
Commitment funded amount				$ 105,667
Senior Secured Commitments [Member] \| SLR Healthcare ABL Credit [Member]
Commitment funded amount						$ 92,383
Maximum [Member]
Debt instrument term				60 days
Maximum [Member] \| SLR Healthcare ABL Credit [Member]
Line of credit facility, maximum borrowing capacity		$ 200,000	$ 150,000
Minimum [Member]
Debt instrument term				60 days
Minimum [Member] \| SLR Healthcare ABL Credit [Member]
Line of credit facility, maximum borrowing capacity		$ 125,000	100,000							$ 105,000
SLR Healthcare ABL [Member]
Equity method investments			$ 32,839
SLR Healthcare ABL [Member] \| Maximum [Member]
Equity method investment, ownership percentage							93.00%
SLR Healthcare ABL [Member] \| Minimum [Member]
Equity method investment, ownership percentage							7.00%

Consolidated Statements of Assets And Liabilities - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investments at fair value:
Cash	$ 19,352	$ 10,743
Cash equivalents (cost: $425,220 and $417,590, respectively)	425,082	417,590
Dividends receivable	10,754	11,192
Interest receivable	10,507	9,706
Receivable for investments sold	1,188	1,124
Prepaid expenses and other assets	855	664
Total assets	2,556,199	2,537,695
Liabilities
Debt ($1,122,200 and $1,093,200 face amounts, respectively, reported net of unamortized debt issuance costs of $6,678 and $7,202, respectively. See notes 6 and 7)	1,115,522	1,085,998
Payable for investments and cash equivalents purchased	425,220	417,611
Distributions payable	7,456	7,481
Management fee payable (see note 3)	7,706	7,964
Performance-based incentive fee payable (see note 3)	5,399	5,422
Interest payable (see note 7)	6,527	7,943
Administrative services payable (see note 3)	749	1,488
Other liabilities and accrued expenses	3,442	4,057
Total liabilities	1,572,021	1,537,964
Commitments and contingencies (see note 10)
Net Assets
Common stock, par value $0.01 per share, 200,000,000 and 200,000,000 common shares authorized, respectively, and 54,554,634 and 54,555,380 shares issued and outstanding, respectively	546	546
Paid-in capital in excess of par	1,162,559	1,162,569
Accumulated distributable net loss	(178,927)	(163,384)
Total net assets	$ 984,178	$ 999,731
Net Asset Value Per Share	$ 18.04	$ 18.33
Companies less than 5% owned [Member]
Investments at fair value:
Investments at fair value:	$ 1,295,133	$ 1,289,082
Companies more than 25% owned [Member]
Investments at fair value:
Investments at fair value:	$ 793,328	$ 797,594

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Summary of Computation of Basic And Diluted Net

The following table sets forth the computation of basic and diluted net increase in net assets per share resulting from operations, pursuant to ASC

260-10,

for the three months ended March 31, 2023 and 2022:


	Three months ended March 31,
	2023		2022

Earnings per share (basic & diluted)
Numerator - net increase in net assets resulting from operations:	$	6,824	$	1,463
Denominator - weighted average shares:		54,554,651		42,260,826
Earnings per share:	$	0.13	$	0.04

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows from Operating Activities
Net increase in net assets resulting from operations	$ 6,824	$ 1,463
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities:
Net realized gain on investments and cash equivalents	(687)	(30)
Net change in unrealized loss on investments	15,872	12,045
(Increase) decrease in operating assets:
Purchase of investments	(155,976)	(67,521)
Proceeds from disposition of investments	144,686	100,980
Net accretion of discount on investments	(2,490)	(1,540)
Capitalization of payment-in-kind income	(3,190)	(692)
Collections of payment-in-kind income	0	867
Receivable for investments sold	(64)	643
Interest receivable	(801)	(723)
Dividends receivable	438	27
Prepaid expenses and other assets	(191)	(360)
Increase (decrease) in operating liabilities:
Payable for investments and cash equivalents purchased	7,609	259,829
Performance-based incentive fee payable	(23)	(1,864)
Administrative services expense payable	(739)	(2,169)
Interest payable	(1,416)	3,570
Other liabilities and accrued expenses	(615)	(503)
Deferred financing costs/market discount	524	427
Net Cash Provided by Operating Activities	9,503	304,230
Cash Flows from Financing Activities:
Cash distributions paid	(22,392)	(34,654)
Proceeds from unsecured borrowings	0	134,968
Repayment of unsecured borrowings	(75,000)	0
Proceeds from secured borrowings	166,000	57,425
Repayment of secured borrowings	(62,000)	(196,000)
Repurchase of common stock	(10)	0
Net Cash Provided by (Used in) Financing Activities	6,598	(38,261)
NET INCREASE IN CASH AND CASH EQUIVALENTS	16,101	265,969
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	428,333	322,935
CASH AND CASH EQUIVALENTS AT END OF PERIOD	444,434	588,904
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 16,702	$ 4,758

SLR Senior Lending Program LLC - Summary of SSLP's portfolio (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Summary of Investment Holdings [Line Items]

Cost

$ 2,577,464

$ 2,552,177

SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Cost

^[1]

44,686

18,032

Fair Value

^[1],[2]

$ 44,756

$ 18,062

Diversified Financial Services | Atria Wealth Solutions, Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+600

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

11.16%

10.84%

Maturity Date

^[1]

Feb. 29, 2024

Par Amount

^[1]

$ 2,487

$ 2,494

Cost

^[1]

2,487

2,494

Fair Value

^[1],[2]

$ 2,487

$ 2,494

Health Care Providers & Services | BayMark Health Services Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+500

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.16%

9.73%

Maturity Date

^[1]

Jun. 11, 2027

Par Amount

^[1]

$ 2,985

$ 2,992

Cost

^[1]

2,985

2,992

Fair Value

^[1],[2]

$ 2,985

$ 2,992

Health Care Providers & Services | Ivy Fertility Services, LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+625

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.39%

Maturity Date

^[1]

Feb. 25, 2026

Par Amount

^[1]

$ 3,000

Cost

^[1]

3,000

Fair Value

^[1],[2]

$ 3,030

Health Care Providers & Services | Aegis Toxicology Sciences Corporation [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+550

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.36%

Maturity Date

^[1]

May 09, 2025

Par Amount

^[1]

$ 2,987

Cost

^[1]

2,987

Fair Value

^[1],[2]

$ 2,987

Health Care Providers & Services | PhyNet Dermatology LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+625

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

11.66%

Maturity Date

^[1]

Aug. 16, 2024

Par Amount

^[1]

$ 2,490

Cost

^[1]

2,490

Fair Value

^[1],[2]

$ 2,490

Health Care Providers & Services | Pinnacle Treatment Centers, Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+650

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

11.79%

Maturity Date

^[1]

Jan. 02, 2026

Par Amount

^[1]

$ 2,494

Cost

^[1]

2,494

Fair Value

^[1],[2]

$ 2,494

Health Care Providers & Services | Plastics Management LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+500

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

9.89%

Maturity Date

^[1]

Aug. 18, 2027

Par Amount

^[1]

$ 2,693

Cost

^[1]

2,667

Fair Value

^[1],[2]

$ 2,693

Health Care Providers & Services | Urology Management Holdings, Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+625

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

11.36%

Maturity Date

^[1]

Jun. 15, 2026

Par Amount

^[1]

$ 2,477

Cost

^[1]

2,405

Fair Value

^[1],[2]

$ 2,403

Trading Companies & Distributors | ENS Holdings III Corp. ES Opco USA LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+475

L+475

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

9.75%

9.43%

Maturity Date

^[1]

Dec. 31, 2025

Par Amount

^[1]

$ 1,094

$ 1,097

Cost

^[1]

1,094

1,097

Fair Value

^[1],[2]

$ 1,094

$ 1,097

Trading Companies & Distributors | Tilley Distribution Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+550

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.55%

Maturity Date

^[1]

Dec. 31, 2026

Par Amount

^[1]

$ 2,494

Cost

^[1]

2,494

Fair Value

^[1],[2]

$ 2,494

Personal Products | Foundation Consumer Brands, LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+550

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.38%

10.15%

Maturity Date

^[1]

Feb. 12, 2027

Par Amount

^[1]

$ 2,879

$ 2,963

Cost

^[1]

2,879

2,963

Fair Value

^[1],[2]

$ 2,879

$ 2,963

Insurance | High Street Buyer Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+600

L+600

Floor

^[1]

0.75%

Interest Rate

^[1],[4]

11.05%

10.73%

Maturity Date

^[1]

Apr. 16, 2028

Par Amount

^[1]

$ 2,487

$ 2,494

Cost

^[1]

2,487

2,494

Fair Value

^[1],[2]

$ 2,487

$ 2,494

Insurance | Higginbotham Insurance Agency Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+525

Floor

^[1]

0.75%

Interest Rate

^[1],[4]

10.09%

Maturity Date

^[1]

Nov. 25, 2026

Par Amount

^[1]

$ 1,297

Cost

^[1]

1,297

Fair Value

^[1],[2]

$ 1,297

Insurance | RSC Acquisition Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+550

Floor

^[1]

0.75%

Interest Rate

^[1],[4]

10.24%

Maturity Date

^[1]

Nov. 01, 2026

Par Amount

^[1]

$ 1,995

Cost

^[1]

1,995

Fair Value

^[1],[2]

$ 1,995

Software | Kid Distro Holdings, LLC (Distro Kid) [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+575

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.48%

Maturity Date

^[1]

Oct. 01, 2027

Par Amount

^[1]

$ 2,992

Cost

^[1]

2,992

Fair Value

^[1],[2]

$ 2,992

Software | ICIMS, Inc [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+725

Floor

^[1]

0.75%

Interest Rate

^[1],[4]

12.05%

Maturity Date

^[1]

Aug. 18, 2028

Par Amount

^[1]

$ 3,000

Cost

^[1]

2,954

Fair Value

^[1],[2]

$ 3,000

Software | Kid Distro Holdings, LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+575

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.91%

Maturity Date

^[1]

Oct. 01, 2027

Par Amount

^[1]

$ 2,985

Cost

^[1]

2,985

Fair Value

^[1],[2]

$ 2,985

Life Sciences Tools and Services [Member] | RQM+ Corp | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+575

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

10.97%

Maturity Date

^[1]

Aug. 12, 2026

Par Amount

^[1]

$ 2,500

Cost

^[1]

2,500

Fair Value

^[1],[2]

$ 2,500

Diversified Consumer Services [Member] | RxSense Holdings LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

S+500

Floor

^[1]

1.00%

Interest Rate

^[1],[4]

9.83%

Maturity Date

^[1]

Mar. 13, 2026

Par Amount

^[1]

$ 2,992

Cost

^[1]

2,992

Fair Value

^[1],[2]

$ 2,992

Health Care Equipment and Supplies [Member] | SunMed Group Holdings, LLC [Member] | SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Spread Above Index

^[1],[3]

L+575

Floor

^[1]

0.75%

Interest Rate

^[1],[4]

10.91%

Maturity Date

^[1]

Jun. 16, 2028

Par Amount

^[1]

$ 2,494

Cost

^[1]

2,494

Fair Value

^[1],[2]

$ 2,494

[1]	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.
[2]	Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.
[3]	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR or SOFR. These instruments are typically subject to a LIBOR or SOFR floor.
[4]	Floating rate debt investments typically bear interest at a rate determined by reference to either the LIBOR (“L”) or SOFR (“S”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current interest rate in effect as of March 31, 2023.

Organization	3 Months Ended
Organization	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1. Organization SLR Investment Corp. (the “Company”, “we”, “us” or “our”), a Maryland corporation formed in November 2007, is a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). Furthermore, as the Company is an investment company, it continues to apply the guidance in FASB Accounting Standards Codification (“ASC”) Topic 946. In addition, for U.S. federal income tax purposes, the Company has elected to be treated, and intends to qualify annually, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). On February 9, 2010, the Company priced its initial public offering, selling 5.68 million shares of common stock, including the underwriters’ over-allotment, at a price of $18.50 per share. Concurrent with this offering, the Company’s senior management purchased an additional 600,000 shares through a private placement, also at $18.50 per share. The Company’s investment objective is to maximize both current income and capital appreciation through debt and equity investments. The Company directly and indirectly invests primarily in leveraged middle market companies in the form of senior secured loans, financing leases and to a lesser extent, unsecured loans and equity securities. From time to time, we may also invest in public companies that are thinly traded. On April 1, 2022, we acquired SLR Senior Investment Corp., a Maryland corporation (“SUNS”) pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 1, 2021, by and among us, SUNS, Solstice Merger Sub, Inc., a Maryland corporation and our wholly-owned subsidiary (“Merger Sub”), and, solely for the limited purposes set forth therein, SLR Capital Partners, LLC (the “Investment Adviser”). Pursuant to the Merger Agreement, Merger Sub merged with and into SUNS, with SUNS continuing as the surviving company and as SUNS’s wholly-owned subsidiary (the “Merger,”) and, immediately thereafter, SUNS merged with and into us, with us continuing as the surviving company (together with the Merger, the “Mergers”). In accordance with the terms of the Merger Agreement, at the effective time of the Merger, each outstanding share of SUNS’s common stock was converted into the right to receive 0.7796 shares of our common stock (with SUNS’s stockholders receiving cash in lieu of fractional shares of our common stock). As a result of the Mergers, we issued an aggregate of 12,511,825 shares of our common stock to former SUNS stockholders.

Kingsbridge Holdings, LLC - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Nov. 03, 2020	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Proceeds from unsecured borrowings		$ 0	$ 134,968
Total assets		2,556,199		$ 2,537,695
Non-recourse debt		1,115,522			$ 1,085,998
KBHT [Member]
Total assets		778,489		777,151
Kingsbridge Holdings, LLC [Member]
Equity method investments	$ 216,596
Payments to acquire investments	136,596
Proceeds from unsecured borrowings	$ 80,000
Recourse debt		225,119		222,094
Non-recourse debt		360,090		$ 353,128
Net income (loss)		2,627	3,399
Gross income		$ 68,007	$ 66,426
Maximum [Member] \| Kingsbridge Holdings, LLC [Member]
Equity method investment, ownership percentage	87.50%
Minimum [Member] \| Kingsbridge Holdings, LLC [Member]
Equity method investment, ownership percentage	12.50%

Capital Share Transactions - Additional Information (Details) - $ / shares	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Shares authorized	200,000,000	200,000,000	200,000,000
Par value	$ 0.01	$ 0.01	$ 0.01

Earnings Per Share - Summary of Computation of Basic and Diluted Net (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings per share (basic & diluted)
Numerator - net increase in net assets resulting from operations:	$ 6,824	$ 1,463
Denominator - weighted average shares, Basic	54,554,651	42,260,826
Denominator - weighted average shares, Diluted	54,554,651	42,260,826
Earnings per share, Basic	$ 0.13	$ 0.04
Earnings per share, Diluted	$ 0.13	$ 0.04

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

SLR Business Credit - Additional Information (Details) $ in Thousands		3 Months Ended		12 Months Ended
	Jun. 03, 2021 USD ($)	Mar. 31, 2023 USD ($) issuers	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) issuers	Jun. 28, 2019 USD ($)	May 01, 2018	Oct. 20, 2017 USD ($)
SLR Business Credit [Line Items]
Commitments and contingencies
Assets		$ 2,556,199		$ 2,537,695
Number of issuers in business credit \| issuers		100		108
Line of credit facility, expiration date			Nov. 13, 2025
SLR Business Credit [Member]
SLR Business Credit [Line Items]
Long-term line of credit		$ 2,424		$ 2,648
Net income		2,017	$ 1,869
Gross income		9,331	$ 6,145
Senior Secured Commitments [Member]
SLR Business Credit [Line Items]
Commitments and contingencies		258,600		242,106
Commitment funded amount		105,667
Senior Secured Commitments [Member] \| SLR Business Credit [Member]
SLR Business Credit [Line Items]
Commitments and contingencies		596,999		603,432
Commitment funded amount		242,400		286,006
Assets		287,345		332,247
Fast Pay Partners LLC [Member]
SLR Business Credit [Line Items]
Percentage of voting interests acquired	100.00%
Business combination, consideration transferred	$ 66,671
NMCs Credit Facility [Member]
SLR Business Credit [Line Items]
Line of credit facility, maximum borrowing capacity	47,671				$ 15,500
SUNS [Member]
SLR Business Credit [Line Items]
Line of credit facility, maximum borrowing capacity	$ 19,000
NMC Senior Credit Facility [Member]
SLR Business Credit [Line Items]
Line of credit facility, maximum borrowing capacity		285,307
Long-term line of credit		$ 183,460		$ 214,425
NM Holdco [Member]
SLR Business Credit [Line Items]
Percentage of equity interest contributed to another entity					99.00%
North Mill Capital LLC [Member]
SLR Business Credit [Line Items]
Equity method investment, ownership percentage						99.00%	100.00%
Equity method investments							$ 51,000
ESP SSC Corporation [Member]
SLR Business Credit [Line Items]
Equity method investment, ownership percentage						1.00%	1.00%
Summit Financial Resources [Member]
SLR Business Credit [Line Items]
Equity method investment, ownership percentage					100.00%

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2023	May 08, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	SLR INVESTMENT CORP.
Securities Act File Number	814-00754
Entity Tax Identification Number	26-1381340
Trading Symbol	SLRC
Entity Central Index Key	0001418076
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Interactive Data Current	Yes
City Area Code	212
Local Phone Number	993-1670
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	500 Park Avenue
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Address, State or Province	NY
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	10022
Entity Incorporation, State or Country Code	MD
Entity Common Stock, Shares Outstanding		54,554,634

Debt - Additional Information (Details) - USD ($)			3 Months Ended	4 Months Ended	12 Months Ended	49 Months Ended
Debt - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2019	Mar. 31, 2023	Dec. 31, 2011	Dec. 31, 2022	Dec. 31, 2021	Apr. 01, 2022	Jan. 06, 2022	Dec. 28, 2021	Sep. 14, 2021	Dec. 18, 2019	Nov. 22, 2017	Aug. 26, 2011
Debt Instrument [Line Items]
Debt instrument face value			$ 1,122,200,000		$ 1,093,200,000
Debt instrument maturity date		Dec. 15, 2024
Long term debt weighted average interest over a period of time			5.39%		4.09%
Long term debt maximum amount borrowed during the period			$ 1,122,200,000		$ 1,164,200,000
Credit Facility One [Member]
Debt Instrument [Line Items]
Debt instrument face value			$ 85,000,000				$ 85,000,000
Long term debt term			5 years
Debt instrument maturity date			Mar. 31, 2025
Debt instrument payment terms			Interest on the 2025 Unsecured Notes is due semi-annually on March 31 and September 30
Debt instrument stated interest rate percentage			3.90%
Line of credit	$ 154,302,000		$ 163,367,000			$ 154,302,000
Two Thousand And Twenty Seven Series F Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument face value			$ 135,000,000					$ 135,000,000
Debt instrument maturity date			Jan. 06, 2027
Debt instrument payment terms			Interest on the 2027 Series F Unsecured Notes is due semi-annually on January 6 and July 6
Debt instrument stated interest rate percentage			3.33%
Two Thousand And Twenty Four Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument face value			$ 125,000,000		125,000,000						$ 125,000,000
Debt instrument payment terms			Interest on the 2024 Unsecured Notes is due semi-annually on June 15 and December 15
Debt instrument stated interest rate percentage			4.20%
Two Thousand And Twenty Six Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument face value			$ 75,000,000		$ 75,000,000						$ 75,000,000
Debt instrument stated interest rate percentage			4.375%		4.375%
Two Thousand And Twenty Two Tranche C Notes [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Dec. 15, 2026
Two Thousand And Twenty Three Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument face value			$ 75,000,000		$ 75,000,000							$ 75,000,000
Debt instrument maturity date						Jan. 20, 2023
Debt instrument payment terms						semi-annually on January 20 and July 20
Debt instrument stated interest rate percentage			4.50%		4.50%
Proceeds from net debt						$ 73,846,000
Term Loan And Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit and term loan outstanding	$ 388,254,000		$ 483,547,000			$ 388,254,000
Term Loan And Credit Facility [Member] \| SPV LLC [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Debt instrument maturity date			Jun. 01, 2026
Line of credit and term loan outstanding			$ 164,200,000
Line of credit maximum borrowing capacity and debt instrument face value									$ 800,000,000
Term Loan And Credit Facility [Member] \| SPV LLC [Member] \| Citi Bank NA [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity									625,000,000
Other long term debt			388,000,000
Term Loan And Credit Facility [Member] \| SPV LLC [Member] \| Citi Bank NA [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument face value									$ 100,000,000
Line of credit			100,000,000
Term Loan And Credit Facility [Member] \| Credit Facility [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Line of credit and term loan outstanding			$ 488,000,000
Term Loan And Credit Facility [Member] \| Maximum [Member] \| SPV LLC [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity													$ 600,000,000
Debt instrument variable interest rate spread	1.00%
Term Loan And Credit Facility [Member] \| Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate spread			2.00%	2.50%
Term Loan And Credit Facility [Member] \| Minimum [Member] \| SPV LLC [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity													$ 225,000,000
Debt instrument variable interest rate spread	0.75%		1.75%
Term Loan And Credit Facility [Member] \| Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate spread				2.00%
Two Thousand And Twenty Seven Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument face value			$ 50,000,000							$ 50,000,000
Debt instrument stated interest rate percentage			2.95%							2.95%

Debt

3 Months Ended

Mar. 31, 2023

Debt Instruments [Abstract]

Debt

Note 7. Debt

Our debt obligations consisted of the following as of March 31, 2023 and December 31, 2022:


	March 31, 2023					December 31, 2022
Facility	Face Amount		Carrying Value			Face Amount		Carrying Value

Credit Facility	$	488,000	$	483,547	(1)	$	393,000	$	388,254	(1)
SPV Credit Facility		164,200		163,367	(2)		155,200		154,302	(2)
2023 Unsecured Notes		—		—			75,000		74,979	(3)
2024 Unsecured Notes		125,000		124,491	(4)		125,000		124,421	(4)
2025 Unsecured Notes		85,000		84,654	(5)		85,000		84,613	(5)
2026 Unsecured Notes		75,000		74,527	(6)		75,000		74,498	(6)
2027 Unsecured Notes		50,000		49,956	(7)		50,000		49,953	(7)
2027 Series F Unsecured Notes		135,000		134,980	(8)		135,000		134,978	(8)

	$	1,122,200	$	1,115,522		$	1,093,200	$	1,085,998

(1)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $4,453 and $4,746 as of March 31, 2023 and December 31, 2022, respectively.

(2)	Carrying Value equals the Face Amount net of unamortized market discount of $833 and $898 as of March 31, 2023 and December 31, 2022, respectively.

(3)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $21 as of December 31, 2022.

(4)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $509 and $579 as of March 31, 2023 and December 31, 2022, respectively.

(5)	Carrying Value equals the Face Amount net of unamortized market discount of $346 and $387 as of March 31, 2023 and December 31, 2022, respectively.

(6)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $473 and $502 as of March 31, 2023 and December 31, 2022, respectively.

(7)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $44 and $47 as of March 31, 2023 and December 31, 2022, respectively.

(8)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $20 and $22 as of March 31, 2023 and December 31, 2022, respectively.

Unsecured Notes

On April 1, 2022, the Company entered into an assumption agreement (the “Note Assumption Agreement”), effective as of the closing of the Mergers. The Note Assumption Agreement relates to the Company’s assumption of $85,000 in aggregate principal amount of five-year, 3.90% senior unsecured notes, due March 31, 2025 (the “2025 Unsecured Notes”) and other obligations of SUNS under the Note Purchase Agreement, dated as of March 31, 2020 (the “Note Purchase Agreement”), among SUNS and certain institutional investors. Interest on the 2025 Unsecured Notes is due semi-annually on March 31 and September 30. Pursuant to the Note Assumption Agreement, the Company expressly assumed on behalf of SUNS the due and punctual payment of the principal of (and premium, if any) and interest on all the 2025 Unsecured Notes outstanding, and the due and punctual performance and observance of every covenant and every condition of the Note Purchase Agreement, to be performed or observed by SUNS.

On January 6, 2022, the Company closed a private offering of $135,000 of the 2027 Series F Unsecured Notes with a fixed interest rate of 3.33% and a maturity date of January 6, 2027. Interest on the 2027 Series F Unsecured Notes is due semi-annually on January 6 and July 6. The 2027 Series F Unsecured Notes were issued in a private placement only to qualified institutional buyers.

On September 14, 2021, the Company closed a private offering of $50,000 of the 2027 Unsecured Notes with a fixed interest rate of 2.95% and a maturity date of March 14, 2027. Interest on the 2027 Unsecured Notes is due semi-annually on March 14 and September 14. The 2027 Unsecured Notes were issued in a private placement only to qualified institutional buyers.

On December 18, 2019, the Company closed a private offering of $125,000 of the 2024 Unsecured Notes with a fixed interest rate of 4.20% and a maturity date of December 15, 2024. Interest on the 2024 Unsecured Notes is due semi-annually on June 15 and December 15. The 2024 Unsecured Notes were issued in a private placement only to qualified institutional buyers.

On December 18, 2019, the Company closed a private offering of $75,000 of the 2026 Unsecured Notes with a fixed interest rate of 4.375% and a maturity date of December 15, 2026. Interest on the 2026 Unsecured Notes is due semi-annually on June 15 and December 15. The 2026 Unsecured Notes were issued in a private placement only to qualified institutional buyers.

On November 22, 2017, we issued $75,000 in aggregate principal amount of publicly registered 2023 Unsecured Notes for net proceeds of $73,846. Interest on the 2023 Unsecured Notes is paid semi-annually on January 20 and July 20, at a fixed rate of 4.50% per year, commencing on January 20, 2018. The 2023 Unsecured Notes were repaid in full on the maturity date, January 20, 2023.

Revolving and Term Loan Facilities

On April 1, 2022, the Company entered into an assumption agreement (the “CF Assumption Agreement”), effective as of the closing of the Mergers. The CF Assumption Agreement relates to the Company’s assumption of the Revolving Credit Facility, originally entered into on August 26, 2011 (as amended from time to time, the “SPV Credit Facility”), by and among SUNS SPV LLC (the “SUNS SPV”), a wholly-owned subsidiary of SUNS, acting as borrower, Citibank, N.A., acting as administrative agent and collateral agent, and the other parties thereto. Currently, the commitment under the SPV Credit Facility is $225,000; however, the commitment can also be expanded up to $600,000. The stated interest rate on the SPV Credit Facility is LIBOR plus

2.00%-2.50%

with no LIBOR floor requirement and the current final maturity date is June 1, 2026. The SPV Credit Facility is secured by all of the assets held by SUNS SPV. Under the terms of the SPV Credit Facility and related transaction documents, the Company as successor to SUNS, and SUNS SPV, as applicable, have made certain customary representations and warranties, and are required to comply with various covenants, including leverage restrictions, reporting requirements and other customary requirements for similar credit facilities. The SPV Credit Facility also includes usual and customary events of default for credit facilities of this nature. At March 31, 2023, outstanding USD equivalent borrowings under the SPV Credit Facility totaled $164,200.

On December 28, 2021, the Company closed on Amendment No. 1 to its August 28, 2019 senior secured credit agreement (the “Credit Facility”). Following the amendment and a November 2022 upsizing, the Credit Facility is composed of $625,000 of revolving credit and $100,000 of term loans. Borrowings generally bear interest at a rate per annum equal to the base rate plus a range of

1.75%-2.00%

or the alternate base rate plus

0.75%-1.00%.

The Credit Facility has a 0% floor and matures in December 2026 and includes ratable amortization in the final year. The Credit Facility may be increased up to $800,000 with additional new lenders or an increase in commitments from current lenders. The Credit Facility contains certain customary affirmative and negative covenants and events of default. In addition, the Credit Facility contains certain financial covenants that among other things, requires the Company to maintain a minimum shareholder’s equity and a minimum asset coverage ratio. At March 31, 2023, outstanding USD equivalent borrowings under the Credit Facility totaled $488,000, composed of $388,000 of revolving credit and $100,000 of term loans.

Certain

covenants on our issued debt may restrict our business activities, including limitations that could hinder our ability to finance additional loans and investments or to make the distributions required to maintain our status as a RIC under Subchapter M of the Code.

The

average annualized interest cost for all borrowings for the three months ended March 31, 2023 and the year ended December 31, 2022 was

5.39

% and

4.09

%, respectively. These costs are exclusive of other credit facility expenses such as unused fees, agency fees and other prepaid expenses related to establishing and/or amending the Credit Facility, the SPV Credit Facility, the 2023 Unsecured Notes, the 2024 Unsecured Notes, the 2025 Unsecured Notes, the 2026 Unsecured Notes, the 2027 Unsecured Notes and the 2027 Series F Unsecured Notes (collectively the “Debt Instruments”), if any. The maximum amounts borrowed on the Debt Instruments during the three months ended March 31, 2023 and the year ended December 31, 2022 were $

1,122,200

and $

1,164,200

, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Financial Highlights

3 Months Ended

Mar. 31, 2023

Investment Company, Financial Highlights [Abstract]

Financial Highlights

Note 8. Financial Highlights

The following is a schedule of financial highlights for the three months ended March 31, 2023 and 2022:


	Three months ended March 31, 2023			Three months ended March 31, 2022
Per Share Data: (a)
Net asset value, beginning of year	$	18.33		$	19.93

Net investment income		0.41			0.32
Net realized and unrealized loss		(0.29	)		(0.28	)

Net increase in net assets resulting from operations		0.12			0.04
Distributions to stockholders:
From distributable earnings		(0.41	)		(0.41	)
From return of capital		(0.00	)		—

Net asset value, end of period	$	18.04		$	19.56

Per share market value, end of period	$	15.04		$	18.13
Total Return (b)(c)		11.01	%		0.60	%
Net assets, end of period	$	984,178		$	826,417
Shares outstanding, end of period		54,554,634			42,260,826
Ratios to average net assets (c):
Net investment income		2.22	%		1.60	%

Operating expenses		1.61	%*		1.33	%
Interest and other credit facility expenses		1.53	%		0.99	%

Total expenses		3.14	%*		2.32	%

Average debt outstanding	$	1,075,344		$	815,194
Portfolio turnover ratio		7.0	%		4.1	%

(a)	Calculated using the average shares outstanding method.

(b)

(c)	Not annualized for periods less than one year.

Consolidated Statements of Assets And Liabilities (Parenthetical) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Investment owned, at cost	$ 2,577,464,000	$ 2,552,177,000
Cash equivalents at cost	425,220,000	417,590,000
Debt instrument, face amount	1,122,200,000	1,093,200,000
Debt issuance costs	$ 6,678,000	$ 7,202,000
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common Stock, shares authorized	200,000,000	200,000,000
Common stock, shares, issued	54,554,634	54,555,380
Common stock, shares, outstanding	54,554,634	54,555,380
Companies less than 5% owned [Member]
Investment owned, at cost	$ 1,332,884	$ 1,312,701
Companies more than 25% owned [Member]
Investment owned, at cost	$ 819,360	$ 821,886

Agreements	3 Months Ended
Agreements	Mar. 31, 2023
Agreements [Abstract]
Agreements	Note 3. Agreements The Company has an investment advisory and management agreement (the “Advisory Agreement”) with the Investment Adviser, under which the Investment Adviser manages the day-to-day operations of, and provides investment advisory services to the Company. For providing these services, the Investment Adviser receives a fee from the Company, consisting of two components—a base management fee and a performance-based incentive fee. The base management fee is determined by taking the average value of the Company’s gross assets at the end of the two most recently completed calendar quarters calculated at an annual rate of 1.50% on gross assets up to 200% of the Company’s total net assets as of the immediately preceding quarter end and 1.00% on gross assets that exceed 200% of the Company’s total net assets as of the immediately preceding quarter end. For purposes of computing the base management fee, gross assets exclude temporary assets acquired at the end of each fiscal quarter for purposes of preserving investment flexibility in the next fiscal quarter. Temporary assets include, but are not limited to, U.S. treasury bills, other short-term U.S. government or government agency securities, repurchase agreements or cash borrowings. The performance-based incentive fee has two parts, as follows: one part is calculated and payable quarterly in arrears based on the Company’s pre-incentive fee net investment income for the immediately preceding calendar quarter. For this purpose, pre-incentive fee net investment income means interest income, dividend income and any other income (including any other fees (other than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or other fees that we receive from portfolio companies) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter (including the base management fee, any expenses payable under the Administration Agreement, and any interest expense and distributions paid on any issued and outstanding preferred stock, but excluding the performance-based incentive fee). Pre-incentive fee net investment income does not include any realized capital gains or losses, or unrealized capital appreciation or depreciation. Pre-incentive fee net investment income, expressed as a rate of return on the value of the Company’s net assets at the end of the immediately preceding calendar quarter, is compared to the hurdle rate of 1.75% per quarter (7% annualized). The Company pays the Investment Adviser a performance-based incentive fee with respect to the Company’s pre-incentive fee net investment income in each calendar quarter as follows: (1) no performance-based incentive fee in any calendar quarter in which the Company’s pre-incentive fee net investment income does not exceed the hurdle rate; (2) 100% of the Company’s pre-incentive fee net investment income with respect to that portion of such pre-incentive fee net investment income, if any, that exceeds the hurdle rate but is less than 2.1875% in any calendar quarter; and (3) 20% of the amount of the Company’s pre-incentive fee net investment income, if any, that exceeds 2.1875% in any calendar quarter. These calculations are appropriately pro-rated for any period of less than three months. The second part of the performance-based incentive fee is determined and payable in arrears as of the end of each calendar year (or upon termination of the Advisory Agreement, as of the termination date), and will equal 20% of the Company’s cumulative realized capital gains less cumulative realized capital losses, unrealized capital depreciation (unrealized depreciation on a gross investment-by-investment basis at the end of each calendar year) and all net capital gains upon which prior performance-based capital gains incentive fee payments were previously made to the Investment Adviser. For financial statement purposes, the second part of the performance-based incentive fee is accrued based upon 20% of cumulative net realized gains and net unrealized capital appreciation. No accrual was required for the three months ended March 31, 2023 and 2022. For the three months ended March 31, 2023 and 2022, the Company recognized $7,706 and $7,216, respectively, in base management fees and $5,509 and $0, respectively, in performance-based incentive fees. For the three months ended March 31, 2023 and 2022, $110 and $0, respectively, of such performance-based incentive fees were waived. The Investment Adviser has agreed to waive incentive fees resulting from income earned due to the accretion of purchase discount allocated to investments acquired as a result of the Mergers. Fees waived pursuant to the above are not subject to recoupment by the Investment Adviser. The Company has also entered into an Administration Agreement with SLR Capital Management, LLC (the “Administrator”) under which the Administrator provides administrative services to the Company. For providing these services, facilities and personnel, the Company reimburses the Administrator for the Company’s allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Administration Agreement, including rent. The Administrator will also provide, on the Company’s behalf, managerial assistance to those portfolio companies to which the Company is required to provide such assistance. The Company typically reimburses the Administrator on a quarterly basis. For the three months ended March 31, 2023 and 2022, the Company recognized expenses under the Administration Agreement of $1,508 and $1,183 respectively. No managerial assistance fees were accrued or collected for the three months ended March 31, 2023 and 2022.

Fair Value

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value

Note 6. Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs to valuations used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:

Level

Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has the ability to access.

Level

Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

Quoted prices for similar assets or liabilities in active markets;

Quoted prices for identical or similar assets or liabilities in

non-active

markets;

Pricing models whose inputs are observable for substantially the full term of the asset or liability; and

Pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability.

Level

Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s and, if applicable, an independent third-party valuation firm’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.

When the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3).

Gains and losses for assets and liabilities categorized within the Level 3 table below may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3).

A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Such reclassifications involving Level 3 assets and liabilities are reported as transfers in/out of Level 3 as of the end of the quarter in which the reclassifications occur. Within the fair value hierarchy tables below, cash and cash equivalents are excluded but could be classified as Level 1.

The following tables present the balances of assets measured at fair value on a recurring basis, as of March 31, 2023 and December 31, 2022:

Fair Value Measurements

As of March 31, 2023


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,256,830	$	—	$	1,256,830
Equipment Financing		—		—		258,044		—		258,044
Preferred Equity		—		—		3,801		—		3,801
Common Equity/Equity Interests/Warrants		333		—		559,919		9,534		569,786

Total Investments $	$	333	$	—	$	2,078,594	$	9,534	$	2,088,461

Fair Value Measurements

As of December 31, 2022


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,245,414	$	—	$	1,245,414
Equipment Financing		—		—		265,952		—		265,952
Preferred Equity		—		—		3,801		—		3,801
Common Equity/Equity Interests/Warrants		483		—		561,600		9,426		571,509

Total Investments $	$	483	$	—	$	2,076,767	$	9,426	$	2,086,676

In accordance with ASC

820-10,

Fair Value Measurements Using Level 3 Inputs


	Senior Secured Loans			Equipment Financing			Preferred Equity			Common Equity/ Equity Interests/ Warrants			Total

Fair value, December 31, 2022	$	1,245,414		$	265,952		$	3,801		$	561,600		$	2,076,767
Total gains or losses included in earnings:
Net realized gain		824			—			—			—			824
Net change in unrealized gain (loss)		(13,469	)		60			(61	)		(2,360	)		(15,830	)
Purchase of investment securities		153,570			7,346			61			679			161,656
Proceeds from dispositions of investment securities		(129,509	)		(15,314	)		—			—			(144,823	)
Transfers in/out of Level 3		—			—			—			—			—

Fair value, March 31, 2023	$	1,256,830		$	258,044		$	3,801		$	559,919		$	2,078,594

Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized gain (loss)	$	(13,081	)	$	60		$	(61	)	$	(2,360	)	$	(15,442	)

Fair Value Measurements Using Level 3 Inputs


	Senior Secured Loans			Equipment Financing			Preferred Equity			Common Equity/ Equity Interests/ Warrants			Total

Fair value, December 31, 2021	$	939,690		$	273,795		$	5,630		$	450,381		$	1,669,496
Total gains or losses included in earnings:
Net realized gain (loss)		(36,244	)		—			—			6			(36,238	)
Net change in unrealized loss		(8,065	)		(6,924	)		(706	)		(5,048	)		(20,743	)
Purchase of investment securities(1)		796,389			84,168			266			116,272			997,095
Proceeds from dispositions of investment securities		(446,356	)		(85,087	)		(1,389	)		(11	)		(532,843	)
Transfers in/out of Level 3		—			—			—			—			—

Fair value, December 31, 2022	$	1,245,414		$	265,952		$	3,801		$	561,600		$	2,076,767

Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period:
Net change in unrealized loss	$	(8,920	)	$	(6,924	)	$	(706	)	$	(5,048	)	$	(21,598	)

(1) Includes positions acquired from SUNS as a result of the Mergers.

The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities measured using significant unobservable inputs (Level 3) for the year ended

December 31, 2022:


2022 Unsecured Notes	For the year ended December 31, 2022

Beginning fair value	$	150,000
Net realized (gain) loss		—
Net change in unrealized (gain) loss		—
Borrowings		—
Repayments		(150,000	)
Transfers in/out of Level 3		—

Ending fair value	$	—

The Company made an election to apply the fair value option of accounting to the 2022 Unsecured Notes, in accordance with ASC

825-10.

On May 8, 2022, the borrowings were repaid in full. While the Company has not made an election to apply the fair value option of accounting to any of its other debt obligations, if the Company’s debt obligations were carried at fair value at December 31, 2022, the fair value of the Credit Facility, SPV Credit Facility, 2023 Unsecured Notes, 2024 Unsecured Notes, 2025 Unsecured Notes, 2026 Unsecured Notes, 2027 Unsecured Notes and 2027 Series F Unsecured Notes would be $393,000, $155,200, $75,000, $118,750, $79,688, $68,250, $42,875 and $118,125, respectively.

Quantitative Information about Level 3 Fair Value Measurements

The Company typically determines the fair value of its performing debt investments utilizing a yield analysis. In a yield analysis, a price is ascribed for each investment based upon an assessment of current and expected market yields for similar investments and risk profiles. Additional consideration is given to current contractual interest rates, relative maturities and other key terms and risks associated with an investment. Among other factors, a significant determinant of risk is the amount of leverage used by the portfolio company relative to the total enterprise value of the company, and the rights and remedies of our investment within each portfolio company.

Significant unobservable quantitative inputs typically used in the fair value measurement of the Company’s Level 3 assets and liabilities primarily reflect current market yields, including indices, and readily available quotes from brokers, dealers, and pricing services as indicated by comparable assets and liabilities, as well as enterprise values, returns on equity and earnings before income taxes, depreciation and amortization (“EBITDA”) multiples of similar companies, and comparable market transactions for equity securities.

Quantitative information about the Company’s Level 3 asset and liability fair value

measurements

as of March 31, 2023 is

summarized

in the
table below:

Asset or

Liability

Fair Value at

March 31, 2023

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,209,664

47,166

Income Approach

Market Multiple

(1)

Market Yield

Comparable Multiple

9.3

% –

18.2

% (

12.0

0.1x-

21.4x (

10.0x

)

Equipment Financing

Asset

137,224

120,820

Income Approach

Market Multiple

(2)

Market Yield

Comparable Multiple

8.5

% –

9.8

% (

9.8

1.1x-

1.4x

(

1.2

)

Preferred Equity

Asset

3,801

Income Approach

Market Yield

5.0

% –

5.0

% (

5.0

Common Equity/Equity Interests/Warrants

Asset

149,439

410,480

Market Multiple

(3)

Market Approach

Comparable Multiple

Return on Equity

7.8

x –

9.8

x (

8.8

5.5

% –

35.2

% (

10.4

(1)	Investments are valued using a sum-of-the parts analysis, using expected revenue multiples for certain segments of the businesses and expected EBITDA multiples for certain segments of the businesses.

(2)	Includes $120,820 of investments valued using an implied multiple.

(3)	Includes $995 of investments valued using a Black-Scholes model and $148,444 of investments valued using an EBITDA multiple.

Quantitative information about the Company’s Level 3 asset and liability fair value measurements as of December 31, 2022 is

summarized

in the table below:

Asset or

Liability

Fair Value at

December 31, 2022

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,212,842

32,572

Income Approach
Market Multiple

(1)

Market Yield

Comparable Multiple

9.4% – 18.2% (12.0%)

0.1x-21.4x (12.4x)

Equipment Financing

Asset

145,132

120,820

Income Approach
Market Multiple

(2)

Market Yield

Comparable Multiple

8.5% – 9.7% (9.7%)

1.1x-1.4x (1.2x)

Preferred Equity

Asset

3,801

Income Approach

Market Yield

5.0% – 5.0% (5.0%)

Common Equity/Equity Interests/Warrants

Asset

149,120

412,480

Market Multiple

(3)

Market Approach

Comparable Multiple

Return on Equity

7.8x – 9.8x (8.8x)

6.6% – 35.2% (9.2%)

(1)	Investments are valued using a sum-of-the parts analysis, using expected revenue multiples for certain segments of the businesses and expected EBITDA multiples for certain segments of the businesses.

(2)	Includes $120,820 of investments valued using an implied multiple.

(3)	Includes $676 of investments valued using a Black-Scholes model and $148,444 of investments valued using an EBITDA multiple.

Significant increases or decreases in any of the above unobservable inputs in isolation, including unobservable inputs used in deriving

bid-ask

spreads, if applicable, could result in significantly lower or higher fair value measurements for such assets and liabilities. Generally, an increase in market yields or decrease in EBITDA multiples may result in a decrease in the fair value of certain of the Company’s investments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset and Liability (Parenthetical) (Details) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Measurement Input, EBITDA Multiple [Member] \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 148,444	$ 148,444
Black Scholes Pricing Model [Member] \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	995	676
Senior Secured Loans \| Income Approach \| Market Yield \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 1,209,664	$ 1,212,842
Senior Secured Loans \| Income Approach \| Market Yield \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.3	9.4
Senior Secured Loans \| Income Approach \| Market Yield \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	18.2	18.2
Senior Secured Loans \| Income Approach \| Market Yield \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	12	12
Senior Secured Loans \| Market Multiple \| Comparable Multiple \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 47,166	$ 32,572
Senior Secured Loans \| Market Multiple \| Comparable Multiple \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	0.1	0.1
Senior Secured Loans \| Market Multiple \| Comparable Multiple \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	21.4	21.4
Senior Secured Loans \| Market Multiple \| Comparable Multiple \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	10	12.4
Equipment Financing \| Income Approach \| Market Yield \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 137,224	$ 145,132
Equipment Financing \| Income Approach \| Market Yield \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	8.5	8.5
Equipment Financing \| Income Approach \| Market Yield \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.8	9.7
Equipment Financing \| Income Approach \| Market Yield \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.8	9.7
Equipment Financing \| Market Multiple \| Comparable Multiple \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 120,820	$ 120,820
Equipment Financing \| Market Multiple \| Comparable Multiple \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	1.1	1.1
Equipment Financing \| Market Multiple \| Comparable Multiple \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	1.2	1.4
Equipment Financing \| Market Multiple \| Comparable Multiple \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	1.4	1.2
Preferred Equity \| Income Approach \| Market Yield \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 3,801	$ 3,801
Preferred Equity \| Income Approach \| Market Yield \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5	5
Preferred Equity \| Income Approach \| Market Yield \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5	5
Preferred Equity \| Income Approach \| Market Yield \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5	5
Common Equity/Equity Interests/Warrants \| Market Multiple \| Comparable Multiple \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 149,439	$ 149,120
Common Equity/Equity Interests/Warrants \| Market Multiple \| Comparable Multiple \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	7.8	7.8
Common Equity/Equity Interests/Warrants \| Market Multiple \| Comparable Multiple \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.8	9.8
Common Equity/Equity Interests/Warrants \| Market Multiple \| Comparable Multiple \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	8.8	8.8
Common Equity/Equity Interests/Warrants \| Market Approach \| Return on Equity \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 410,480	$ 412,480
Common Equity/Equity Interests/Warrants \| Market Approach \| Return on Equity \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5.5	6.6
Common Equity/Equity Interests/Warrants \| Market Approach \| Return on Equity \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	35.2	35.2
Common Equity/Equity Interests/Warrants \| Market Approach \| Return on Equity \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	10.4	9.2

SLR Credit Solutions - Additional Information (Details) $ in Thousands				3 Months Ended		12 Months Ended
	Jul. 28, 2016 USD ($)	Dec. 28, 2012 USD ($)	Nov. 30, 2012 USD ($) loans	Mar. 31, 2023 USD ($) issuers fund	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) issuers fund	Dec. 12, 2022 USD ($)	Dec. 31, 2021 USD ($)
Number of issuers in business credit \| issuers				100		108
Assets				$ 2,556,199		$ 2,537,695
Non-recourse debt				1,115,522				$ 1,085,998
Revolving Credit Facility [Member]
Line of credit facility, maximum borrowing capacity		$ 275,000
Crystal Financial [Member]
Line of credit facility, maximum borrowing capacity			$ 400,000
SLR Business Credit Facility [Member]
Line of credit facility, maximum borrowing capacity				$ 37,232		$ 33,420
Business combination, consideration transferred	$ 5,737
Number of funded commitments \| fund				28		29
Number of issuers in business credit \| issuers				24		25
Long-term line of credit				$ 423,163			$ 439,484
Assets				435,275			$ 460,683
Line of credit facility average outstanding amount				17,632		$ 17,579
Net income (loss)				9,672	$ 2,780
Gross income				14,555	$ 6,694
Non-recourse debt				207,837		$ 224,325
SLR Business Credit Facility [Member] \| Revolving Credit Facility [Member]
Line of credit facility commitments amount				$ 300,000
SLR Business Credit Facility [Member] \| Crystal Financial [Member]
Payment to acquire business		$ 275,000
Equity method investment, ownership percentage	2.00%	98.00%
Number of loans in business credit \| loans			23
SLR Business Credit Facility [Member] \| Crystal Capital Financial Holdings LLC [Member]
Equity method investment, ownership percentage	100.00%

Agreements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Agreement [Line Items]
Management fees	$ 7,706	$ 7,216
Administrative fees expense	1,508	1,183
Performance Based Incentive Fees Waiver	$ 110	0
Advisory Agreement [Member]
Agreement [Line Items]
Pre-incentive fee net investment income Quarter hurdle rate	1.75%
Pre-incentive fee net investment income Annual hurdle rate	7.00%
Percentage of cumulative realized capital gain loss	20.00%
Percentage of cumulative net realized gain and unrealized capital appreciation	20.00%
Management fees	$ 7,706	7,216
Performance based incentive fees	5,509	0
Administrative fees expense	$ 1,508	$ 1,183
Advisory Agreement [Member] \| Minimum [Member]
Agreement [Line Items]
Percentage of gross assets	1.00%
Percentage of total net assets	200.00%
Percentage of pre-incentive fee net investment income	100.00%
Advisory Agreement [Member] \| Maximum [Member]
Agreement [Line Items]
Percentage of gross assets	1.50%
Percentage of total net assets	200.00%
Percentage of pre-incentive fee net investment income	20.00%

Capital Share Transactions - Summary of Transactions In Capital Stock (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Shares repurchased, Shares	(746)	0	(217,271)
Shares repurchased, Value	$ (10)	$ 0	$ (3,038)

Consolidated Schedule of Investments - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Schedule of Investments [Line Items]

Cost

$ 2,577,464

$ 2,552,177

Total Investments & Cash Equivalents

2,513,543

2,504,266

Liabilities in Excess of Other Assets

(1,529,365)

(1,504,535)

Total net assets

$ 984,178

$ 999,731

$ 842,281

Percentage of Total Investments (at fair value)

100.00%

Senior Secured Loans - 127.7%

Schedule of Investments [Line Items]

Cost

$ 1,297,837

Fair Value

1,256,830

Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Cost

936,307

Fair Value

897,231

Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Cost

320,323

Fair Value

322,919

Senior Secured Loans 1 124.6%

Schedule of Investments [Line Items]

Cost

$ 1,272,952

Fair Value

1,245,414

Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Cost

912,558

Fair Value

886,513

Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Cost

319,205

Fair Value

322,455

Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Cost

283,478

Fair Value

258,044

Total Investments [Member]

Schedule of Investments [Line Items]

Cost

2,152,244

^[1]

2,134,587

^[2]

Fair Value

$ 2,088,461

^[1]

$ 2,086,676

^[2]

Multi-Sector Holdings (includes Kingsbridge Holdings, LLC, SLR Equipment Finance, Equipment Operating Leases, LLC and Loyer Capital LLC) [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

17.40%

17.50%

Diversified Financial Services (includes SLR Credit Solutions) [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

21.90%

22.10%

Health Care Providers & Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

11.40%

7.70%

Pharmaceuticals [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

5.30%

5.50%

Health Care Equipment & Supplies [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

5.70%

6.60%

Software [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

4.20%

4.30%

Biotechnology [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

3.90%

Wireless Telecommunication Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.10%

Capital Markets [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

2.10%

1.70%

Personal Products [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.60%

1.70%

Road & Rail [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.60%

1.70%

IT Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.60%

Insurance [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

3.20%

4.20%

Diversified Consumer Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

2.60%

2.70%

Commercial Services & Supplies [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.10%

Auto Parts & Equipment [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.20%

Internet & Catalog Retail [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.60%

1.10%

Packaged Foods & Meats [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.20%

Life Sciences Tools & Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.20%

1.30%

Communications Equipment [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.70%

Specialty Retail [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.50%

Auto Components [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

0.40%

Airlines [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

Health Care Technology [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.80%

Transportation Infrastructure [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.70%

Machinery [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

Metals & Mining [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.20%

Aerospace & Defense [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

Consumer Finance [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.10%

Construction & Engineering [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.00%

Hotels, Restaurants & Leisure [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

Oil, Gas & Consumable Fuels [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

Containers & Packaging [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.00%

Energy Equipment & Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.00%

Building Products [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.90%

Internet Software & Services [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.00%

Trading Companies and Distributors [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.80%

0.90%

Leisure Equipment and Products [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.50%

Footwear [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.30%

Water Utilities [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.10%

Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Cost

$ 291,445

Fair Value

265,952

Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Cost

565,263

Fair Value

$ 571,509

Cash Equivalents 1 41.8% | U.S. Treasury Bill [Member]

Schedule of Investments [Line Items]

Government

Dec. 30, 2022

Feb. 23, 2023

$ 420,000

417,590

$ 417,590

Thrifts & Mortgage Finance [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.30%

Media [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

1.60%

1.90%

Food Products [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.20%

0.40%

Food and Staples Retailing [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.10%

Asset Management [Member]

Schedule of Investments [Line Items]

Percentage of Total Investments (at fair value)

0.50%

Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Cost

$ 565,941

Fair Value

$ 569,786

Cash Equivalents 1 43.2% [Member] | U.S. Treasury Bill [Member]

Schedule of Investments [Line Items]

Government

Mar. 31, 2023

Jun. 29, 2023

$ 430,000

425,220

$ 425,082

Aegis Toxicology Sciences Corporation [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

L+550

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.36%

Acquisition Date

^[3]

May 07, 2018

Maturity Date

^[3]

May 09, 2025

Par Amount

^[3]

$ 13,539

Cost

^[3]

13,281

Fair Value

^[3]

$ 13,539

Aegis Toxicology Sciences Corporation [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

L+550

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.09%

Acquisition Date

^[3]

May 07, 2018

Maturity Date

^[3]

May 09, 2025

Par Amount

^[3]

$ 17,103

Cost

^[3]

16,793

Fair Value

^[3]

$ 17,103

All State Ag Parts, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Trading Companies & Distributors

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.89%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Sep. 01, 2026

Par Amount

^[3]

$ 4,315

Cost

^[3]

4,206

Fair Value

^[3]

$ 4,315

All State Ag Parts, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Trading Companies & Distributors

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.19%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Sep. 01, 2026

Par Amount

^[3]

$ 4,197

Cost

^[3]

4,081

Fair Value

^[3]

$ 4,197

American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7]

Communications Equipment

Spread Above Index

^[4],[7]

L+650

Floor

^[7]

1.00%

Interest Rate

^[5],[7]

0.00%

Acquisition Date

^[7]

May 05, 2016

Maturity Date

^[7]

Sep. 09, 2021

Par Amount

^[7]

$ 36,135

Cost

^[7]

25,926

Fair Value

^[7]

$ 0

American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7]

Communications Equipment

Spread Above Index

^[4],[7]

L+650

Floor

^[7]

1.00%

Interest Rate

^[6],[7]

0.00%

Acquisition Date

^[7]

May 05, 2016

Maturity Date

^[7]

Sep. 09, 2021

Par Amount

^[7]

$ 36,135

Cost

^[7]

25,926

Fair Value

^[7]

$ 0

American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7]

Communications Equipment

Spread Above Index

^[4],[7]

L+650

Floor

^[7]

1.00%

Interest Rate

^[5],[7]

0.00%

Acquisition Date

^[7]

Sep. 17, 2021

Maturity Date

^[7]

Apr. 07, 2023

Par Amount

^[7]

$ 6,358

Cost

^[7]

6,208

Fair Value

^[7]

$ 177

American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7]

Communications Equipment

Spread Above Index

^[4],[7]

L+650

Floor

^[7]

1.00%

Interest Rate

^[6],[7]

0.00%

Acquisition Date

^[7]

Sep. 17, 2021

Maturity Date

^[7]

Jan. 31, 2023

Par Amount

^[7]

$ 6,405

Cost

^[7]

6,254

Fair Value

^[7]

$ 224

AmeriMark Intermediate Holdings, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7],[8]

Internet & Catalog Retail

Spread Above Index

^[4],[7],[8]

L+800

Floor

^[7],[8]

1.00%

Interest Rate

^[5],[7],[8]

0.00%

Acquisition Date

^[7],[8]

Jul. 28, 2021

Maturity Date

^[7],[8]

Oct. 15, 2026

Par Amount

^[7],[8]

$ 26,835

Cost

^[7],[8]

25,526

Fair Value

^[7],[8]

$ 13,417

AmeriMark Intermediate Holdings, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Internet & Catalog Retail

Spread Above Index

^[4],[9]

L+800

Floor

^[9]

1.00%

Interest Rate

^[6],[9]

14.77%

Acquisition Date

^[9]

Jul. 28, 2021

Maturity Date

^[9]

Oct. 15, 2026

Par Amount

^[9]

$ 24,087

Cost

^[9]

23,711

Fair Value

^[9]

$ 22,882

Atria Wealth Solutions, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Financial Services

Spread Above Index

^[3],[4]

S+600

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

11.16%

Acquisition Date

^[3]

Sep. 14, 2018

Maturity Date

^[3]

Feb. 29, 2024

Par Amount

^[3]

$ 8,123

Cost

^[3]

8,090

Fair Value

^[3]

$ 8,123

Atria Wealth Solutions, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Financial Services

Spread Above Index

^[3],[4]

S+600

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.84%

Acquisition Date

^[3]

Sep. 14, 2018

Maturity Date

^[3]

Feb. 29, 2024

Par Amount

^[3]

$ 8,149

Cost

^[3]

8,107

Fair Value

^[3]

$ 8,149

Basic Fun, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Specialty Retail

Spread Above Index

^[3],[4]

L+550

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.47%

Acquisition Date

^[3]

Oct. 30, 2020

Maturity Date

^[3]

Oct. 30, 2023

Par Amount

^[3]

$ 2,150

Cost

^[3]

2,143

Fair Value

^[3]

$ 2,150

Basic Fun, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Specialty Retail

Spread Above Index

^[3],[4]

L+550

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.27%

Acquisition Date

^[3]

Oct. 30, 2020

Maturity Date

^[3]

Oct. 30, 2023

Par Amount

^[3]

$ 2,162

Cost

^[3]

2,152

Fair Value

^[3]

$ 2,162

BayMark Health Services Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

L+500

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.16%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Jun. 11, 2027

Par Amount

^[3]

$ 9,408

Cost

^[3]

9,072

Fair Value

^[3]

$ 9,408

BayMark Health Services Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

L+500

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.73%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Jun. 11, 2027

Par Amount

^[3]

$ 9,432

Cost

^[3]

9,078

Fair Value

^[3]

$ 9,432

CC SAG Holdings Corp. (Spectrum Automotive) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Consumer Services

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

0.75%

Interest Rate

^[3],[5]

10.91%

Acquisition Date

^[3]

Jun. 29, 2021

Maturity Date

^[3]

Jun. 29, 2028

Par Amount

^[3]

$ 20,375

Cost

^[3]

20,020

Fair Value

^[3]

$ 20,375

CC SAG Holdings Corp. (Spectrum Automotive) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Consumer Services

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

0.75%

Interest Rate

^[3],[6]

10.48%

Acquisition Date

^[3]

Jun. 29, 2021

Maturity Date

^[3]

Jun. 29, 2028

Par Amount

^[3]

$ 20,427

Cost

^[3]

20,057

Fair Value

^[3]

$ 20,427

Enhanced Permanent Capital, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[10]

Capital Markets

Spread Above Index

^[4],[10]

S+700

Floor

^[10]

1.00%

Interest Rate

^[5],[10]

11.78%

Acquisition Date

^[10]

Dec. 29, 2020

Maturity Date

^[10]

Dec. 29, 2025

Par Amount

^[10]

$ 43,435

Cost

^[10]

42,547

Fair Value

^[10]

$ 43,435

Enhanced Permanent Capital, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[11]

Capital Markets

Spread Above Index

^[4],[11]

L+700

Floor

^[11]

1.00%

Interest Rate

^[6],[11]

10.13%

Acquisition Date

^[11]

Dec. 29, 2020

Maturity Date

^[11]

Dec. 29, 2025

Par Amount

^[11]

$ 35,205

Cost

^[11]

34,496

Fair Value

^[11]

$ 35,205

Foundation Consumer Brands, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Personal Products

Spread Above Index

^[3],[4]

L+550

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.38%

Acquisition Date

^[3]

Feb. 12, 2021

Maturity Date

^[3]

Feb. 12, 2027

Par Amount

^[3]

$ 34,273

Cost

^[3]

33,483

Fair Value

^[3]

$ 34,273

Foundation Consumer Brands, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Personal Products

Spread Above Index

^[3],[4]

L+550

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.15%

Acquisition Date

^[3]

Feb. 12, 2021

Maturity Date

^[3]

Feb. 12, 2027

Par Amount

^[3]

$ 35,273

Cost

^[3]

34,421

Fair Value

^[3]

$ 35,273

iCIMS, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Software

Spread Above Index

^[4]

S+725

Floor

0.75%

Interest Rate

^[5],[12]

12.05%

Aug. 18, 2022

Aug. 18, 2028

$ 29,412

28,943

$ 29,412

iCIMS, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Software

Spread Above Index

^[4]

S+725

Floor

0.75%

Interest Rate

^[6],[12]

11.52%

Aug. 18, 2022

Aug. 18, 2028

$ 32,084

31,548

$ 31,522

Ivy Fertility Services, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

L+625

Floor

1.00%

Interest Rate

^[6]

10.39%

Dec. 22, 2021

Feb. 25, 2026

$ 30,092

29,415

$ 30,393

Kid Distro Holdings, LLC (Distro Kid) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Software

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.91%

Acquisition Date

^[3]

Sep. 24, 2021

Maturity Date

^[3]

Oct. 01, 2027

Par Amount

^[3]

$ 26,385

Cost

^[3]

25,968

Fair Value

^[3]

$ 26,385

Kid Distro Holdings, LLC (Distro Kid) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Software

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.48%

Acquisition Date

^[3]

Sep. 24, 2021

Maturity Date

^[3]

Oct. 01, 2027

Par Amount

^[3]

$ 26,452

Cost

^[3]

26,015

Fair Value

^[3]

$ 26,452

Kingsbridge Holdings, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[13]

Multi-Sector Holdings

Spread Above Index

^[4],[13]

L+700

Floor

^[13]

1.00%

Interest Rate

^[5],[13]

11.78%

Acquisition Date

^[13]

Dec. 21, 2018

Maturity Date

^[13]

Dec. 21, 2024

Par Amount

^[13]

$ 80,000

Cost

^[13]

79,823

Fair Value

^[13]

$ 80,000

Kingsbridge Holdings, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[14]

Multi-Sector Holdings

Spread Above Index

^[4],[14]

L+700

Floor

^[14]

1.00%

Interest Rate

^[6],[14]

10.75%

Acquisition Date

^[14]

Dec. 21, 2018

Maturity Date

^[14]

Dec. 21, 2024

Par Amount

^[14]

$ 80,000

Cost

^[14]

79,800

Fair Value

^[14]

$ 80,000

KORE Wireless Group, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Wireless Telecommunication Services

Spread Above Index

^[3],[4]

S+550

Floor

^[3]

0.00%

Interest Rate

^[3],[5]

10.50%

Acquisition Date

^[3]

Dec. 21, 2018

Maturity Date

^[3]

Dec. 21, 2024

Par Amount

^[3]

$ 23,526

Cost

^[3]

23,117

Fair Value

^[3]

$ 23,526

KORE Wireless Group, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Wireless Telecommunication Services

Spread Above Index

^[3],[4]

S+550

Floor

^[3]

0.00%

Interest Rate

^[3],[6]

10.08%

Acquisition Date

^[3]

Dec. 21, 2018

Maturity Date

^[3]

Dec. 21, 2024

Par Amount

^[3]

$ 23,588

Cost

^[3]

23,123

Fair Value

^[3]

$ 23,588

Logix Holding Company, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Communications Equipment

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.59%

Acquisition Date

^[3]

Sep. 14, 2018

Maturity Date

^[3]

Dec. 22, 2024

Par Amount

^[3]

$ 14,009

Cost

^[3]

13,334

Fair Value

^[3]

$ 13,449

Logix Holding Company, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Communications Equipment

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.13%

Acquisition Date

^[3]

Sep. 14, 2018

Maturity Date

^[3]

Dec. 22, 2024

Par Amount

^[3]

$ 14,009

Cost

^[3]

13,246

Fair Value

^[3]

$ 13,449

Maurices, Incorporated [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Specialty Retail

Spread Above Index

^[3],[4]

S+675

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

9.28%

Acquisition Date

^[3]

Aug. 27, 2021

Maturity Date

^[3]

Jun. 01, 2024

Par Amount

^[3]

$ 8,664

Cost

^[3]

8,557

Fair Value

^[3]

$ 8,664

Maurices, Incorporated [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Specialty Retail

Spread Above Index

^[3],[4]

S+675

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

8.74%

Acquisition Date

^[3]

Aug. 27, 2021

Maturity Date

^[3]

Jun. 01, 2024

Par Amount

^[3]

$ 7,808

Cost

^[3]

7,678

Fair Value

^[3]

$ 7,808

NAC Holdings Corporation (Jaguar) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

S+525

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.45%

Acquisition Date

^[3]

Jul. 30, 2021

Maturity Date

^[3]

Sep. 28, 2024

Par Amount

^[3]

$ 28,603

Cost

^[3]

28,214

Fair Value

^[3]

$ 28,603

One Touch Direct, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Commercial Services & Supplies

Spread Above Index

^[4]

P+75

Floor

0.00%

Interest Rate

^[5]

8.75%

Apr. 03, 2020

Mar. 30, 2024

$ 4,315

4,315

$ 4,315

One Touch Direct, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Commercial Services & Supplies

Spread Above Index

^[4]

P+75

Floor

0.00%

Interest Rate

^[6]

8.25%

Apr. 03, 2020

Mar. 30, 2024

$ 4,431

4,431

$ 4,431

PhyNet Dermatology LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4],[15]

S+625

Floor

1.00%

Interest Rate

^[5]

11.10%

Sep. 05, 2018

Aug. 16, 2024

$ 11,927

11,898

$ 11,927

PhyNet Dermatology LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4],[15]

S+625

Floor

1.00%

Interest Rate

^[6]

9.81%

Sep. 05, 2018

Aug. 16, 2024

$ 14,458

14,420

$ 14,458

Pinnacle Treatment Centers, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

S+675

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

11.54%

Acquisition Date

^[3]

Jan. 22, 2020

Maturity Date

^[3]

Jan. 02, 2026

Par Amount

^[3]

$ 26,217

Cost

^[3]

25,787

Fair Value

^[3]

$ 26,217

Pinnacle Treatment Centers, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

S+650

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.57%

Acquisition Date

^[3]

Jan. 22, 2020

Maturity Date

^[3]

Jan. 02, 2026

Par Amount

^[3]

$ 27,997

Cost

^[3]

27,528

Fair Value

^[3]

$ 27,367

PPT Management Holdings, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4],[16]

L+850

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

13.34%

Acquisition Date

^[3]

Sep. 14, 2018

Maturity Date

^[3]

May 01, 2023

Par Amount

^[3]

$ 33,396

Cost

^[3]

33,256

Fair Value

^[3]

$ 26,817

PPT Management Holdings, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^{[3],[4],[15],[16]}

L+850

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

12.83%

Acquisition Date

^[3]

Sep. 14, 2018

Maturity Date

^[3]

Jan. 30, 2023

Par Amount

^[3]

$ 32,163

Cost

^[3]

31,987

Fair Value

^[3]

$ 25,827

RQM+ Corp. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Life Sciences Tools & Services

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.97%

Acquisition Date

^[3]

Aug. 20, 2021

Maturity Date

^[3]

Aug. 12, 2026

Par Amount

^[3]

$ 24,255

Cost

^[3]

23,928

Fair Value

^[3]

$ 24,255

RQM+ Corp. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Life Sciences Tools & Services

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.97%

Acquisition Date

^[3]

Aug. 20, 2021

Maturity Date

^[3]

Aug. 12, 2026

Par Amount

^[3]

$ 26,823

Cost

^[3]

26,455

Fair Value

^[3]

$ 26,823

SunMed Group Holdings, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Equipment & Supplies

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

0.75%

Interest Rate

^[3],[5]

10.77%

Acquisition Date

^[3]

Jun. 16, 2021

Maturity Date

^[3]

Jun. 16, 2028

Par Amount

^[3]

$ 22,333

Cost

^[3]

21,882

Fair Value

^[3]

$ 22,333

SunMed Group Holdings, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Equipment & Supplies

Spread Above Index

^[3],[4]

L+575

Floor

^[3]

0.75%

Interest Rate

^[3],[6]

10.48%

Acquisition Date

^[3]

Jun. 16, 2021

Maturity Date

^[3]

Jun. 16, 2028

Par Amount

^[3]

$ 24,953

Cost

^[3]

24,446

Fair Value

^[3]

$ 24,953

Ultimate Baked Goods Midco LLC (Rise Baking) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Packaged Foods & Meats

Spread Above Index

^[3],[4]

L+650

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

11.41%

Acquisition Date

^[3]

Aug. 12, 2021

Maturity Date

^[3]

Aug. 13, 2027

Par Amount

^[3]

$ 24,324

Cost

^[3]

23,629

Fair Value

^[3]

$ 24,324

Ultimate Baked Goods Midco LLC (Rise Baking) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Packaged Foods & Meats

Spread Above Index

^[3],[4]

L+650

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.88%

Acquisition Date

^[3]

Aug. 12, 2021

Maturity Date

^[3]

Aug. 13, 2027

Par Amount

^[3]

$ 24,789

Cost

^[3]

24,038

Fair Value

^[3]

$ 24,789

ACRES Commercial Mortgage, LLC [Member] | Senior Secured Loans - 127.7% | Second Lien Asset-Based Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Diversified Financial Services

Spread Above Index

^[4]

S+705

Floor

1.00%

Interest Rate

^[5]

11.87%

Dec. 24, 2021

Aug. 21, 2028

$ 29,925

29,416

$ 29,925

ACRES Commercial Mortgage, LLC [Member] | Senior Secured Loans 1 124.6% | Second Lien Asset-Based Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Diversified Financial Services

Spread Above Index

^[4]

S+705

Floor

1.00%

Interest Rate

^[6]

11.38%

Dec. 24, 2021

Aug. 21, 2028

$ 29,925

29,398

$ 29,925

Alimera Sciences, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Pharmaceuticals

Spread Above Index

^[3],[4]

S+515

Floor

^[3]

4.60%

Interest Rate

^[3],[5]

9.96%

Acquisition Date

^[3]

Dec. 31, 2019

Maturity Date

^[3]

May 01, 2028

Par Amount

^[3]

$ 24,445

Cost

^[3]

24,402

Fair Value

^[3]

$ 24,445

Alimera Sciences, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Pharmaceuticals

Spread Above Index

^[3],[4]

L+765

Floor

^[3]

1.78%

Interest Rate

^[3],[6]

11.82%

Acquisition Date

^[3]

Dec. 31, 2019

Maturity Date

^[3]

Jul. 01, 2024

Par Amount

^[3]

$ 23,159

Cost

^[3]

23,894

Fair Value

^[3]

$ 24,433

Arcutis Biotherapeutics, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[10]

Pharamceuticals

Spread Above Index

^[4],[10]

L+745

Floor

^[10]

0.10%

Interest Rate

^[5],[10]

12.12%

Acquisition Date

^[10]

Dec. 22, 2021

Maturity Date

^[10]

Jan. 01, 2027

Par Amount

^[10]

$ 66,849

Cost

^[10]

67,346

Fair Value

^[10]

$ 67,685

Arcutis Biotherapeutics, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[11]

Pharamceuticals

Spread Above Index

^[4],[11]

L+745

Floor

^[11]

0.10%

Interest Rate

^[6],[11]

11.62%

Acquisition Date

^[11]

Dec. 22, 2021

Maturity Date

^[11]

Jan. 01, 2027

Par Amount

^[11]

$ 66,849

Cost

^[11]

67,077

Fair Value

^[11]

$ 67,685

Ardelyx, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[10]

Pharmaceuticals

Spread Above Index

^[4],[10]

S+795

Floor

^[10]

1.00%

Interest Rate

^[5],[10]

12.64%

Acquisition Date

^[10]

Feb. 23, 2022

Maturity Date

^[10]

Mar. 01, 2027

Par Amount

^[10]

$ 9,475

Cost

^[10]

9,467

Fair Value

^[10]

$ 9,523

Ardelyx, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[11]

Pharmaceuticals

Spread Above Index

^[4],[11]

L+795

Floor

^[11]

0.10%

Interest Rate

^[6],[11]

12.12%

Acquisition Date

^[11]

Feb. 23, 2022

Maturity Date

^[11]

Mar. 01, 2027

Par Amount

^[11]

$ 9,475

Cost

^[11]

9,437

Fair Value

^[11]

$ 9,499

BridgeBio Pharma, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[10]

Biotechnology

Spread Above Index

^[4],[10]

Floor

^[10]

0.00%

Interest Rate

^{[5],[10],[17]}

9.00%

Acquisition Date

^[10]

Nov. 17, 2021

Maturity Date

^[10]

Nov. 17, 2026

Par Amount

^[10]

$ 40,145

Cost

^[10]

39,722

Fair Value

^[10]

$ 40,145

BridgeBio Pharma, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[11]

Biotechnology

Spread Above Index

^[4],[11]

Floor

^[11]

0.00%

Interest Rate

^{[6],[11],[17]}

9.00%

Acquisition Date

^[11]

Nov. 17, 2021

Maturity Date

^[11]

Nov. 17, 2026

Par Amount

^[11]

$ 39,839

Cost

^[11]

39,340

Fair Value

^[11]

$ 39,839

Centrexion Therapeutics, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Pharmaceuticals

Spread Above Index

^[4]

L+725

Floor

2.45%

Interest Rate

^[5]

11.92%

Jun. 28, 2019

Jan. 01, 2024

$ 9,111

9,697

$ 9,703

Centrexion Therapeutics, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Pharmaceuticals

Spread Above Index

^[4]

L+725

Floor

2.45%

Interest Rate

^[6]

11.42%

Jun. 28, 2019

Jan. 01, 2024

$ 11,844

12,372

$ 12,555

Cerapedics, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Biotechnology

Spread Above Index

^[4]

S+620

Floor

2.75%

Interest Rate

^[5]

10.86%

Dec. 27, 2022

Jan. 01, 2028

$ 26,939

26,916

$ 26,872

Cerapedics, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Biotechnology

Spread Above Index

^[4]

S+620

Floor

2.75%

Interest Rate

^[6]

10.52%

Dec. 27, 2022

Jan. 01, 2028

$ 26,939

26,874

$ 26,872

Glooko, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Technology

Spread Above Index

L+790

Floor

^[3]

0.10%

Interest Rate

^[3],[5]

12.57%

Acquisition Date

^[3]

Sep. 30, 2021

Maturity Date

^[3]

Oct. 01, 2026

Par Amount

^[3]

$ 15,883

Cost

^[3]

15,904

Fair Value

^[3]

$ 15,962

Glooko, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Technology

Spread Above Index

^[3],[4]

L+790

Floor

^[3]

0.10%

Interest Rate

^[3],[6]

12.07%

Acquisition Date

^[3]

Sep. 30, 2021

Maturity Date

^[3]

Oct. 01, 2026

Par Amount

^[3]

$ 15,883

Cost

^[3]

15,867

Fair Value

^[3]

$ 15,922

Neuronetics, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Equipment & Supplies

Spread Above Index

S+565

Floor

^[3]

3.95%

Interest Rate

^[3],[5]

10.46%

Acquisition Date

^[3]

Mar. 02, 2020

Maturity Date

^[3]

Mar. 29, 2028

Par Amount

^[3]

$ 19,299

Cost

^[3]

19,148

Fair Value

^[3]

$ 19,299

Neuronetics, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Equipment & Supplies

Spread Above Index

^[3],[4]

L+765

Floor

^[3]

1.66%

Interest Rate

^[3],[6]

11.82%

Acquisition Date

^[3]

Mar. 02, 2020

Maturity Date

^[3]

Feb. 28, 2025

Par Amount

^[3]

$ 18,012

Cost

^[3]

18,450

Fair Value

^[3]

$ 19,003

OmniGuide Holdings, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[18]

Health Care Equipment & Supplies

Spread Above Index

L+1405

Floor

^[18]

0.10%

Interest Rate

^{[5],[18],[19]}

18.72%

Acquisition Date

^[18]

Jul. 30, 2018

Maturity Date

^[18]

Jul. 01, 2023

Par Amount

^[18]

$ 19,685

Cost

^[18]

20,199

Fair Value

^[18]

$ 20,374

OmniGuide Holdings, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[18]

Health Care Equipment & Supplies

Spread Above Index

^[4],[18]

L+1405

Floor

^[18]

0.10%

Interest Rate

^{[6],[18],[19]}

18.22%

Acquisition Date

^[18]

Jul. 30, 2018

Maturity Date

^[18]

Jul. 01, 2023

Par Amount

^[18]

$ 19,201

Cost

^[18]

19,380

Fair Value

^[18]

$ 19,777

Vapotherm, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[4]

S+930

Floor

1.00%

Interest Rate

^[5],[20]

14.06%

Feb. 18, 2022

Feb. 01, 2027

$ 35,176

35,136

$ 35,440

Vapotherm, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[4]

S+830

Floor

1.00%

Interest Rate

^[6],[21]

12.58%

Feb. 18, 2022

Feb. 01, 2027

$ 34,455

34,270

$ 34,628

SOINT, LLC [Member] | Preferred Equity 0 0.4% [Member]

Schedule of Investments [Line Items]

Industry

^[22]

Aerospace & Defense

^[10],[13]

Aerospace & Defense

^[11],[14]

Interest Rate

^[16],[22]

5.00%

^[10],[13]

5.00%

^[11],[14]

Acquisition Date

^[22]

Jun. 08, 2012

^[10],[13]

Jun. 08, 2012

^[11],[14]

Maturity Date

^[22]

Jun. 30, 2023

^[10],[13]

Jun. 30, 2023

^[11],[14]

Shares/Units

^{[10],[13],[22]}

49,880

Par Amount

^{[11],[14],[22]}

$ 49,273

Cost

^[22]

$ 4,988

^[10],[13]

4,927

^[11],[14]

Fair Value

^[22]

$ 3,801

^[10],[13]

$ 3,801

^[11],[14]

aTyr Pharma, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Pharmaceuticals

Acquisition Date

^[23]

Nov. 18, 2016

Shares/Units

^[23]

6,347

Cost

^[23]

$ 106

Fair Value

^[23]

$ 0

aTyr Pharma, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Pharmaceuticals

Acquisition Date

^[23]

Nov. 18, 2016

Shares/Units

^[23]

6,347

Cost

^[23]

$ 106

Fair Value

^[23]

$ 0

CardioFocus, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Mar. 31, 2017

Shares/Units

^[23]

Cost

^[23]

$ 51

Fair Value

^[23]

$ 0

CardioFocus, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Mar. 31, 2017

Shares/Units

^[23]

Cost

^[23]

$ 51

Fair Value

^[23]

$ 0

Centrexion Therapeutics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Pharmaceuticals

Acquisition Date

^[23]

Jun. 28, 2019

Shares/Units

^[23]

289,102

Cost

^[23]

$ 136

Fair Value

^[23]

$ 82

Centrexion Therapeutics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Pharmaceuticals

Acquisition Date

^[23]

Jun. 28, 2019

Shares/Units

^[23]

289,102

Cost

^[23]

$ 136

Fair Value

^[23]

$ 65

Conventus Orthopaedics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Jun. 15, 2016

Shares/Units

^[23]

157,500

Cost

^[23]

$ 65

Fair Value

^[23]

$ 0

Conventus Orthopaedics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Jun. 15, 2016

Shares/Units

^[23]

157,500

Cost

^[23]

$ 65

Fair Value

^[23]

$ 0

Delphinus Medical Technologies, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Aug. 18, 2017

Shares/Units

^[23]

444,388

Cost

^[23]

$ 74

Fair Value

^[23]

$ 103

Delphinus Medical Technologies, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Aug. 18, 2017

Shares/Units

^[23]

444,388

Cost

^[23]

$ 74

Fair Value

^[23]

$ 90

Essence Group Holdings Corporation (Lumeris) Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Technology

Acquisition Date

^[23]

Mar. 22, 2017

Shares/Units

^[23]

260,000

Cost

^[23]

$ 129

Fair Value

^[23]

$ 366

Essence Group Holdings Corporation (Lumeris) Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Technology

Acquisition Date

^[23]

Mar. 22, 2017

Shares/Units

^[23]

260,000

Cost

^[23]

$ 129

Fair Value

^[23]

$ 345

KBH Topco LLC (Kingsbridge) [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^{[14],[24],[25]}

Multi-Sector Holdings

Acquisition Date

^{[14],[24],[25]}

Nov. 03, 2020

Shares/Units

^{[14],[24],[25]}

73,500,000

Cost

^{[14],[24],[25]}

$ 136,596

Fair Value

^{[14],[24],[25]}

$ 148,444

KBH Topco LLC (Kingsbridge) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^{[13],[24],[25]}

Multi-Sector Holdings

Acquisition Date

^{[13],[24],[25]}

Nov. 03, 2020

Shares/Units

^{[13],[24],[25]}

73,500,000

Cost

^{[13],[24],[25]}

$ 136,596

Fair Value

^{[13],[24],[25]}

$ 148,444

RD Holdco Inc. (Rug Doctor) [Member] | Senior Secured Loans 1 124.6% | Second Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7],[14]

Diversified Consumer Services

Spread Above Index

^{[4],[7],[14],[16]}

S+975

Floor

^[7],[14]

1.00%

Interest Rate

^[6],[7],[14]

0.00%

Acquisition Date

^[7],[14]

Dec. 23, 2013

Maturity Date

^[7],[14]

Oct. 12, 2026

Par Amount

^[7],[14]

$ 13,043

Cost

^[7],[14]

11,791

Fair Value

^[7],[14]

$ 6,521

RD Holdco Inc. (Rug Doctor) [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[14],[23]

Diversified Consumer Services

Acquisition Date

^[14],[23]

Dec. 23, 2013

Shares/Units

^[14],[23]

231,177

Cost

^[14],[23]

$ 15,683

Fair Value

^[14],[23]

$ 0

RD Holdco Inc. (Rug Doctor) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[13],[23]

Diversified Consumer Services

Acquisition Date

^[13],[23]

Dec. 23, 2013

Shares/Units

^[13],[23]

231,177

Cost

^[13],[23]

$ 15,683

Fair Value

^[13],[23]

$ 0

RD Holdco Inc. (Rug Doctor, class B) [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[14],[23]

Diversified Consumer Services

Acquisition Date

^[14],[23]

Dec. 23, 2013

Shares/Units

^[14],[23]

522

Cost

^[14],[23]

$ 5,216

Fair Value

^[14],[23]

$ 0

RD Holdco Inc. (Rug Doctor, class B) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[13],[23]

Diversified Consumer Services

Acquisition Date

^[13],[23]

Dec. 23, 2013

Shares/Units

^[13],[23]

522

Cost

^[13],[23]

$ 5,216

Fair Value

^[13],[23]

$ 0

RD Holdco Inc. (Rug Doctor, Warrants) [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[14],[23]

Diversified Consumer Services

Acquisition Date

^[14],[23]

Dec. 23, 2013

Shares/Units

^[14],[23]

30,370

Cost

^[14],[23]

$ 381

Fair Value

^[14],[23]

$ 0

RD Holdco Inc. (Rug Doctor, Warrants) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[13],[23]

Diversified Consumer Services

Acquisition Date

^[13],[23]

Dec. 23, 2013

Shares/Units

^[13],[23]

30,370

Cost

^[13],[23]

$ 381

Fair Value

^[13],[23]

$ 0

Senseonics Holdings, Inc. [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^{[11],[23],[26]}

Health Care Equipment & Supplies

Acquisition Date

^{[11],[23],[26]}

Jul. 25, 2019

Shares/Units

^{[11],[23],[26]}

469,353

Cost

^{[11],[23],[26]}

$ 235

Fair Value

^{[11],[23],[26]}

$ 483

Senseonics Holdings, Inc. [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^{[10],[23],[26]}

Health Care Equipment & Supplies

Acquisition Date

^{[10],[23],[26]}

Jul. 25, 2019

Shares/Units

^{[10],[23],[26]}

469,353

Cost

^{[10],[23],[26]}

$ 235

Fair Value

^{[10],[23],[26]}

$ 333

SLR Business Credit [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^{[11],[14],[27]}

Diversified Financial Services

Acquisition Date

^{[11],[14],[27]}

Apr. 01, 2022

Shares/Units

^{[11],[14],[27]}

100

Cost

^{[11],[14],[27]}

$ 81,583

Fair Value

^{[11],[14],[27]}

$ 89,370

SLR Business Credit [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^{[10],[13],[27]}

Diversified Financial Services

Acquisition Date

^{[10],[13],[27]}

Apr. 01, 2022

Shares/Units

^{[10],[13],[27]}

100

Cost

^{[10],[13],[27]}

$ 81,583

Fair Value

^{[10],[13],[27]}

$ 90,370

SLR Credit Solutions [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^{[11],[14],[28],[29]}

Diversified Financial Services

Acquisition Date

^{[11],[14],[29]}

Dec. 28, 2012

Shares/Units

^{[11],[14],[29]}

280,303

Cost

^{[11],[14],[29]}

$ 280,737

Fair Value

^{[11],[14],[29]}

$ 288,760

SLR Credit Solutions [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^{[10],[13],[29]}

Diversified Financial Services

Acquisition Date

^{[10],[13],[29]}

Dec. 28, 2012

Shares/Units

^{[10],[13],[29]}

280,303

Cost

^{[10],[13],[29]}

$ 280,737

Fair Value

^{[10],[13],[29]}

$ 285,260

SLR Healthcare ABL [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^{[11],[14],[27]}

Diversified Financial Services

Acquisition Date

^{[11],[14],[30]}

Apr. 01, 2022

Shares/Units

^{[11],[14],[30]}

32,839

Cost

^{[11],[14],[30]}

$ 34,335

Fair Value

^{[11],[14],[30]}

$ 34,350

SLR Healthcare ABL [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^{[10],[13],[30]}

Diversified Financial Services

Acquisition Date

^{[10],[13],[30]}

Apr. 01, 2022

Shares/Units

^{[10],[13],[30]}

32,839

Cost

^{[10],[13],[30]}

$ 34,335

Fair Value

^{[10],[13],[30]}

$ 34,850

Spectrum Pharmaceuticals, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Biotechnology

Acquisition Date

^[23]

Sep. 21, 2022

Shares/Units

^[23]

159,470

Cost

^[23]

$ 51

Fair Value

^[23]

$ 15

Spectrum Pharmaceuticals, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Biotechnology

Acquisition Date

^[23]

Sep. 21, 2022

Shares/Units

^[23]

159,470

Cost

^[23]

$ 51

Fair Value

^[23]

$ 54

Vapotherm, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Feb. 18, 2022

Shares/Units

^[23]

36,996

Cost

^[23]

$ 210

Fair Value

^[23]

$ 87

Vapotherm, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Feb. 18, 2022

Shares/Units

^[23]

74,339

Cost

^[23]

$ 231

Fair Value

^[23]

$ 18

Venus Concept Ltd. Warrants (f/k/a Restoration Robotics) [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

May 10, 2018

Shares/Units

^[23]

33,430

Cost

^[23]

$ 152

Fair Value

^[23]

$ 0

Venus Concept Ltd. Warrants (f/k/a Restoration Robotics) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

May 10, 2018

33,430

$ 152

$ 0

ENS Holdings III Corp. & ES Opco USA LLC (Bluefin) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Trading Companies & Distributors

Spread Above Index

^[3],[4]

S+475

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

9.75%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Dec. 31, 2025

Par Amount

^[3]

$ 4,795

Cost

^[3]

4,640

Fair Value

^[3]

$ 4,795

ENS Holdings III Corp. & ES Opco USA LLC (Bluefin) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Trading Companies & Distributors

Spread Above Index

^[3],[4]

S+475

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.43%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Dec. 31, 2025

Par Amount

^[3]

$ 4,978

Cost

^[3]

4,804

Fair Value

^[3]

$ 4,978

Enverus Holdings, Inc. (fka Drilling Info Holdings) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

IT Services

Spread Above Index

^[3],[4]

L+450

Floor

^[3]

0.00%

Interest Rate

^[3],[5]

9.34%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Jul. 30, 2025

Par Amount

^[3]

$ 11,570

Cost

^[3]

11,140

Fair Value

^[3]

$ 11,570

Enverus Holdings, Inc. (fka Drilling Info Holdings) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

IT Services

Spread Above Index

^[3],[4]

L+450

Floor

^[3]

0.00%

Interest Rate

^[3],[6]

8.88%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Jul. 30, 2025

Par Amount

^[3]

$ 11,598

Cost

^[3]

11,129

Fair Value

^[3]

$ 11,598

Erie Construction Mid-west, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Building Products

Spread Above Index

^[3],[4]

S+475

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

9.79%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Jul. 30, 2027

Par Amount

^[3]

$ 8,800

Cost

^[3]

8,485

Fair Value

^[3]

$ 8,800

Erie Construction Mid-west, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Building Products

Spread Above Index

^[3],[4]

S+475

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.79%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Jul. 30, 2027

Par Amount

^[3]

$ 8,915

Cost

^[3]

8,580

Fair Value

^[3]

$ 8,915

GSM Acquisition Corp [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Leisure Equipment & Products

Spread Above Index

^[3],[4]

S+500

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.16%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 16, 2026

Par Amount

^[3]

$ 10,994

Cost

^[3]

10,567

Fair Value

^[3]

$ 10,884

GSM Acquisition Corp [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Leisure Equipment & Products

Spread Above Index

^[3],[4]

S+500

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.03%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 16, 2026

Par Amount

^[3]

$ 11,022

Cost

^[3]

10,562

Fair Value

^[3]

$ 10,912

Higginbotham Insurance Agency, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

L+525

Floor

^[3]

0.75%

Interest Rate

^[3],[5]

10.09%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 25, 2026

Par Amount

^[3]

$ 4,911

Cost

^[3]

4,734

Fair Value

^[3]

$ 4,911

Higginbotham Insurance Agency, Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

L+525

Floor

^[3]

0.75%

Interest Rate

^[3],[6]

9.63%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 25, 2026

Par Amount

^[3]

$ 6,223

Cost

^[3]

5,994

Fair Value

^[3]

$ 6,223

High Street Buyer, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

S+600

Floor

^[3]

0.75%

Interest Rate

^[3],[5]

11.05%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Apr. 16, 2028

Par Amount

^[3]

$ 5,175

Cost

^[3]

4,898

Fair Value

^[3]

$ 5,175

High Street Buyer, Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

L+600

Floor

^[3]

0.75%

Interest Rate

^[3],[6]

10.73%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Apr. 16, 2028

Par Amount

^[3]

$ 5,188

Cost

^[3]

4,900

Fair Value

^[3]

$ 5,188

Human Interest Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Internet Software & Services

Spread Above Index

^[4]

S+785

Floor

1.00%

Interest Rate

^[5]

12.52%

Jun. 30, 2022

Jul. 01, 2027

$ 20,104

19,823

$ 20,104

Human Interest Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Internet Software & Services

Spread Above Index

^[4]

S+785

Floor

1.00%

Interest Rate

^[6]

11.97%

Jun. 30, 2022

Jul. 01, 2027

$ 20,104

19,783

$ 20,104

Kaseya, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Software

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

0.75%

Interest Rate

^[3],[5]

10.65%

Acquisition Date

^[3]

Jun. 22, 2022

Maturity Date

^[3]

Jun. 23, 2029

Par Amount

^[3]

$ 32,426

Cost

^[3]

31,980

Fair Value

^[3]

$ 32,426

Kaseya, Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Software

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

0.75%

Interest Rate

^[3],[6]

10.33%

Acquisition Date

^[3]

Jun. 22, 2022

Maturity Date

^[3]

Jun. 23, 2029

Par Amount

^[3]

$ 32,426

Cost

^[3]

31,966

Fair Value

^[3]

$ 32,426

National Spine and Pain Centers, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

L+500

Floor

1.00%

Interest Rate

^[6]

7.31%

Apr. 01, 2022

Jun. 02, 2024

$ 2,681

2,564

$ 2,547

Peter C. Foy & Associates Insurance Services, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Insurance

Spread Above Index

^[4]

S+600

Floor

0.75%

Interest Rate

^[5]

10.92%

Apr. 01, 2022

Nov. 01, 2028

$ 11,918

11,753

$ 11,918

Peter C. Foy & Associates Insurance Services, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Insurance

Spread Above Index

^[4]

S+600

Floor

0.75%

Interest Rate

^[6]

10.44%

Apr. 01, 2022

Nov. 01, 2028

$ 10,854

10,699

$ 10,854

Plastics Management, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

S+500

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

9.89%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Aug. 18, 2027

Par Amount

^[3]

$ 9,192

Cost

^[3]

8,879

Fair Value

^[3]

$ 9,192

Plastics Management, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

S+500

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.89%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Aug. 18, 2027

Par Amount

^[3]

$ 9,491

Cost

^[3]

9,161

Fair Value

^[3]

$ 9,491

RSC Acquisition, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

S+550

Floor

^[3]

0.75%

Interest Rate

^[3],[5]

10.24%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 01, 2026

Par Amount

^[3]

$ 7,463

Cost

^[3]

7,296

Fair Value

^[3]

$ 7,463

RSC Acquisition, Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

S+550

Floor

^[3]

0.75%

Interest Rate

^[3],[6]

9.26%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 01, 2026

Par Amount

^[3]

$ 6,985

Cost

^[3]

6,813

Fair Value

^[3]

$ 6,985

RxSense Holdings LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Consumer Services

Spread Above Index

^[3],[4]

S+500

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

9.83%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Mar. 13, 2026

Par Amount

^[3]

$ 8,722

Cost

^[3]

8,356

Fair Value

^[3]

$ 8,722

RxSense Holdings LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Consumer Services

Spread Above Index

^[3],[4]

L+500

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.41%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Mar. 13, 2026

Par Amount

^[3]

$ 11,775

Cost

^[3]

11,357

Fair Value

^[3]

$ 11,775

SHO Holding I Corporation (Shoes for Crews) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Footwear

Spread Above Index

^[3],[4]

L+523

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.06%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Apr. 27, 2024

Par Amount

^[3]

$ 5,689

Cost

^[3]

5,408

Fair Value

^[3]

$ 5,405

SHO Holding I Corporation (Shoes for Crews) [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Footwear

Spread Above Index

^[3],[4]

L+523

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.66%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Apr. 27, 2024

Par Amount

^[3]

$ 5,704

Cost

^[3]

5,361

Fair Value

^[3]

$ 5,419

Southern Orthodontic Partners Management, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

S+600

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

11.16%

Acquisition Date

^[3]

Jun. 03, 2022

Maturity Date

^[3]

Jan. 27, 2026

Par Amount

^[3]

$ 1,728

Cost

^[3]

1,713

Fair Value

^[3]

$ 1,728

Southern Orthodontic Partners Management, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

S+600

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.77%

Acquisition Date

^[3]

Jun. 03, 2022

Maturity Date

^[3]

Jan. 27, 2026

Par Amount

^[3]

$ 1,399

Cost

^[3]

1,387

Fair Value

^[3]

$ 1,399

TAUC Management, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

L+525

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.33%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Feb. 12, 2027

Par Amount

^[3]

$ 6,897

Cost

^[3]

6,600

Fair Value

^[3]

$ 6,552

TAUC Management, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Health Care Providers & Services

Spread Above Index

^[3],[4]

L+525

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.98%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Feb. 12, 2027

Par Amount

^[3]

$ 6,899

Cost

^[3]

6,585

Fair Value

^[3]

$ 6,864

Tilley Distribution, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Trading Companies & Distributors

Spread Above Index

^[3],[4]

S+550

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.14%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Dec. 31, 2026

Par Amount

^[3]

$ 7,367

Cost

^[3]

7,024

Fair Value

^[3]

$ 7,367

Tilley Distribution, Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Trading Companies & Distributors

Spread Above Index

^[3],[4]

S+550

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.14%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Dec. 31, 2026

Par Amount

^[3]

$ 9,996

Cost

^[3]

9,527

Fair Value

^[3]

$ 9,996

Vessco Midco Holdings, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Water Utilities

Spread Above Index

^[3],[4]

L+450

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

9.34%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 02, 2026

Par Amount

^[3]

$ 2,157

Cost

^[3]

2,096

Fair Value

^[3]

$ 2,157

Vessco Midco Holdings, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Water Utilities

Spread Above Index

^[3],[4]

L+450

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

7.87%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Nov. 02, 2026

Par Amount

^[3]

$ 1,728

Cost

^[3]

1,668

Fair Value

^[3]

$ 1,728

World Insurance Associates, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.44%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Apr. 01, 2026

Par Amount

^[3]

$ 39,513

Cost

^[3]

38,579

Fair Value

^[3]

$ 37,933

World Insurance Associates, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Insurance

Spread Above Index

^[3],[4]

S+575

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.31%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Apr. 01, 2026

Par Amount

^[3]

$ 31,624

Cost

^[3]

30,785

Fair Value

^[3]

$ 30,359

Apeel Technology, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Biotechnology

Spread Above Index

^[4]

S+625

Floor

1.00%

Interest Rate

^[5]

8.75%

Jun. 29, 2022

Jun. 01, 2027

$ 3,643

3,627

$ 3,652

Apeel Technology, Inc [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Biotechnology

Spread Above Index

^[4]

S+625

Floor

1.00%

Interest Rate

^[6]

8.75%

Jun. 29, 2022

Jun. 01, 2027

$ 3,643

3,620

$ 3,643

Apex Services Partners, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Consumer Services

Spread Above Index

^[3],[4]

S+525

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.29%

Acquisition Date

^[3]

Aug. 31, 2022

Maturity Date

^[3]

Jul. 31, 2025

Par Amount

^[3]

$ 13,951

Cost

^[3]

13,608

Fair Value

^[3]

$ 13,951

Apex Services Partners, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Diversified Consumer Services

Spread Above Index

^[3],[4]

S+525

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.80%

Acquisition Date

^[3]

Aug. 31, 2022

Maturity Date

^[3]

Jul. 31, 2025

Par Amount

^[3]

$ 14,021

Cost

^[3]

13,644

Fair Value

^[3]

$ 14,021

Composite Technology Acquisition Corp. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Building Products

Spread Above Index

^[3],[4]

L+500

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

10.16%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Feb. 01, 2025

Par Amount

^[3]

$ 10,879

Cost

^[3]

10,525

Fair Value

^[3]

$ 10,879

Composite Technology Acquisition Corp. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Building Products

Spread Above Index

^[3],[4]

L+475

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

9.73%

Acquisition Date

^[3]

Apr. 01, 2022

Maturity Date

^[3]

Feb. 01, 2025

Par Amount

^[3]

$ 10,386

Cost

^[3]

9,983

Fair Value

^[3]

$ 10,386

Copper River Seafoods, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Food Products

Spread Above Index

^[4]

P+275

Floor

0.00%

Interest Rate

^[5]

10.75%

Aug. 31, 2022

Apr. 23, 2025

$ 4,143

4,143

$ 4,143

Copper River Seafoods, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Food Products

Spread Above Index

^[4]

P+275

Floor

0.00%

Interest Rate

^[6]

10.25%

Aug. 31, 2022

Apr. 23, 2025

$ 8,405

8,405

$ 8,405

Luxury Asset Capital, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Thrifts & Mortgage Finance

Spread Above Index

^[3],[4]

S+675

Floor

^[3]

1.00%

Interest Rate

^[3],[5]

11.53%

Acquisition Date

^[3]

Jul. 15, 2022

Maturity Date

^[3]

Jul. 15, 2027

Par Amount

^[3]

$ 27,500

Cost

^[3]

27,013

Fair Value

^[3]

$ 27,500

Luxury Asset Capital, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Thrifts & Mortgage Finance

Spread Above Index

^[3],[4]

S+675

Floor

^[3]

1.00%

Interest Rate

^[3],[6]

10.99%

Acquisition Date

^[3]

Jul. 15, 2022

Maturity Date

^[3]

Jul. 15, 2027

Par Amount

^[3]

$ 27,500

Cost

^[3]

26,991

Fair Value

^[3]

$ 27,500

Montefiore Nyack Hospital [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

L+495

Floor

0.00%

Interest Rate

^[5]

10.10%

Aug. 09, 2022

Nov. 15, 2025

$ 5,000

5,000

$ 5,000

Montefiore Nyack Hospital [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

L+495

Floor

0.00%

Interest Rate

^[6]

9.72%

Aug. 09, 2022

Nov. 15, 2024

$ 3,966

3,966

$ 3,966

Orthopedic Care Partners Management, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+650

Floor

1.00%

Interest Rate

^[5]

11.38%

Aug. 17, 2022

May 16, 2024

$ 3,751

3,730

$ 3,751

Orthopedic Care Partners Management, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+650

Floor

1.00%

Interest Rate

^[6]

10.91%

Aug. 17, 2022

May 16, 2024

$ 3,111

3,092

$ 3,111

Pediatric Home Respiratory Services, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+625

Floor

1.00%

Interest Rate

^[5]

11.29%

Aug. 19, 2022

Dec. 04, 2024

$ 1,323

1,308

$ 1,323

Pediatric Home Respiratory Services, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+625

Floor

1.00%

Interest Rate

^[6]

10.67%

Aug. 19, 2022

Dec. 04, 2024

$ 1,327

1,309

$ 1,313

SPAR Marketing Force, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[4]

P+190

Floor

0.00%

Interest Rate

^[5]

9.90%

Jul. 18, 2022

Oct. 10, 2024

$ 7,949

7,949

$ 7,949

SPAR Marketing Force, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[4]

P+95

Floor

0.00%

Interest Rate

^[6]

8.45%

Jul. 18, 2022

Oct. 10, 2024

$ 9,162

9,162

$ 9,162

Stryten Resources LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Auto Parts & Equipment

Spread Above Index

^[4]

S+800

Floor

1.00%

Interest Rate

^[5]

13.15%

Aug. 11, 2021

Oct. 12, 2026

$ 25,856

25,464

$ 25,856

Stryten Resources LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Auto Parts & Equipment

Spread Above Index

^[4]

S+800

Floor

1.00%

Interest Rate

^[6]

12.44%

Aug. 11, 2021

Oct. 12, 2026

$ 25,922

25,506

$ 25,922

BDG Media, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[4]

L+900

Floor

0.25%

Interest Rate

^[5]

13.97%

Jul. 18, 2022

Apr. 27, 2023

$ 7,775

7,775

$ 7,775

BDG Media, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[4]

L+900

Floor

0.25%

Interest Rate

^[6]

13.17%

Jul. 18, 2022

Apr. 27, 2023

$ 14,454

14,454

$ 14,454

RD Holdco, Inc. [Member] | Senior Secured Loans - 127.7% | Second Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[7],[13]

Diversified Consumer Services

Spread Above Index

^{[4],[7],[13],[16]}

S+975

Floor

^[7],[13]

1.00%

Interest Rate

^[5],[7],[13]

0.00%

Acquisition Date

^[7],[13]

Dec. 23, 2013

Maturity Date

^[7],[13]

Oct. 12, 2026

Par Amount

^[7],[13]

$ 13,511

Cost

^[7],[13]

11,791

Fair Value

^[7],[13]

$ 6,755

Spectrum Pharmaceuticals, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Biotechnology

Spread Above Index

S+570

Floor

^[3]

2.30%

Interest Rate

^[3],[5]

10.36%

Acquisition Date

^[3]

Sep. 21, 2022

Maturity Date

^[3]

Sep. 01, 2027

Par Amount

^[3]

$ 10,525

Cost

^[3]

10,439

Fair Value

^[3]

$ 11,464

Spectrum Pharmaceuticals, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[3]

Biotechnology

Spread Above Index

^[3],[4]

S+570

Floor

^[3]

2.30%

Interest Rate

^[3],[6]

9.88%

Acquisition Date

^[3]

Sep. 21, 2022

Maturity Date

^[3]

Sep. 01, 2027

Par Amount

^[3]

$ 10,525

Cost

^[3]

10,406

Fair Value

^[3]

$ 10,420

DeepIntent, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[4]

P+175

Floor

0.00%

Interest Rate

^[5]

9.75%

Oct. 12, 2022

Mar. 25, 2025

$ 16,883

16,883

$ 16,883

DeepIntent, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[4]

P+175

Floor

0.00%

Interest Rate

^[6]

9.25%

Oct. 12, 2022

Mar. 25, 2025

$ 16,951

16,951

$ 16,951

SCP Eye Care, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+575

Floor

1.00%

Interest Rate

^[5]

10.48%

Oct. 06, 2022

Oct. 05, 2029

$ 8,677

8,408

$ 8,677

SCP Eye Care, LLC [Member] | Senior Secured Loans 1 124.6% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+575

Floor

1.00%

Interest Rate

^[6]

9.46%

Oct. 06, 2022

Oct. 05, 2029

$ 8,314

8,050

$ 8,044

Meditrina, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[4]

S+550

Floor

3.45%

Interest Rate

^[5]

10.16%

Dec. 20, 2022

Dec. 01, 2027

$ 3,367

3,347

$ 3,359

Meditrina, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[4]

S+550

Floor

3.45%

Interest Rate

^[6]

9.82%

Dec. 20, 2022

Dec. 01, 2027

$ 3,367

3,338

$ 3,359

Outset Medical, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[10]

Health Care Equipment & Supplies

Spread Above Index

S+515

Floor

^[10]

2.75%

Interest Rate

^[5],[10]

9.81%

Acquisition Date

^[10]

Nov. 03, 2022

Maturity Date

^[10]

Nov. 01, 2027

Par Amount

^[10]

$ 35,084

Cost

^[10]

34,973

Fair Value

^[10]

34,996

Outset Medical, Inc. [Member] | Senior Secured Loans 1 124.6% | First Lien Life Science Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

^[11]

Health Care Equipment & Supplies

Spread Above Index

^[4],[11]

S+515

Floor

^[11]

2.75%

Interest Rate

^[6],[11]

9.33%

Acquisition Date

^[11]

Nov. 03, 2022

Maturity Date

^[11]

Nov. 01, 2027

Par Amount

^[11]

$ 35,084

Cost

^[11]

34,880

Fair Value

^[11]

34,820

SLR Senior Lending Program LLC [Member]

Schedule of Investments [Line Items]

Cost

^[31]

44,686

18,032

Fair Value

^[31],[32]

44,756

18,062

Total Investments & Cash Equivalents

$ 1,244

$ 1,043

SLR Senior Lending Program LLC [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^{[11],[14],[28]}

Asset Management

Acquisition Date

^{[11],[14],[28]}

Dec. 01, 2022

Shares/Units

^{[11],[14],[28]}

Cost

^{[11],[14],[28]}

$ 9,500

Fair Value

^{[11],[14],[28]}

$ 9,426

SLR Senior Lending Program LLC [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^{[10],[13],[28]}

Asset Management

Acquisition Date

^{[10],[13],[28]}

Dec. 01, 2022

Shares/Units

^{[10],[13],[28]}

Cost

^{[10],[13],[28]}

$ 9,500

Fair Value

^{[10],[13],[28]}

$ 9,534

Meditrina, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.1%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Dec. 20, 2022

Shares/Units

^[23]

29,366

Cost

^[23]

$ 23

Fair Value

^[23]

$ 23

Meditrina, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Equipment & Supplies

Acquisition Date

^[23]

Dec. 20, 2022

Shares/Units

^[23]

29,366

Cost

^[23]

$ 23

Fair Value

^[23]

$ 20

Fertility (ITC) Investment Holdco, LLC | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+650

Floor

1.00%

Interest Rate

^[5]

11.30%

Jan. 04, 2023

Jan. 03, 2029

$ 28,767

27,928

$ 27,904

Maxor Acquisition, Inc. [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+675

Floor

1.00%

Interest Rate

^[5]

11.90%

Mar. 01, 2023

Mar. 01, 2029

$ 23,903

23,193

$ 23,186

NSPC Intermediate Corp. (National Spine) [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+850

Floor

1.00%

Interest Rate

^[5]

12.90%

Apr. 01, 2022

Feb. 13, 2026

$ 2,144

2,055

$ 2,144

NSPC Intermediate Corp. (National Spine) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Industry

^[23]

Health Care Providers & Services

ONS MSO, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+625

Floor

1.00%

Interest Rate

^[5]

10.98%

Feb. 10, 2023

Jul. 08, 2025

$ 23,186

22,525

$ 22,490

United Digestive MSO Parent, LLC [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+675

Floor

1.00%

Interest Rate

^[5]

11.64%

Mar. 30, 2023

Mar. 30, 2029

$ 13,323

12,924

$ 12,924

Urology Management Holdings, Inc [Member] | Senior Secured Loans - 127.7% | First Lien Bank Debt/Senior Secured Loans [Member]

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[4]

S+625

Floor

1.00%

Interest Rate

^[5]

11.36%

Feb. 07, 2023

Jun. 15, 2026

$ 7,174

6,966

$ 6,958

A&A Crane and Rigging, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

7.78%

Acquisition Date

^[33]

Mar. 27, 2023

Maturity Date

^[33]

Mar. 27, 2028

Par Amount

^[33]

$ 79

Cost

^[33]

Fair Value

^[33]

$ 79

Carolina's Contracting, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Interest Rate

^[5],[33]

8.72%

Acquisition Date

^[33]

Mar. 07, 2023

Maturity Date

^[33]

Mar. 07, 2028

Par Amount

^[33]

$ 359

Cost

^[33]

363

Fair Value

^[33]

$ 359

Complete Equipment Rentals, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

6.75%

Acquisition Date

^[33]

Mar. 23, 2023

Maturity Date

^[33]

Apr. 01, 2028

Par Amount

^[33]

$ 1,228

Cost

^[33]

1,206

Fair Value

^[33]

$ 1,206

Extreme Steel Crane & Rigging, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

9.52%

Acquisition Date

^[33]

Mar. 03, 2023

Maturity Date

^[33]

Mar. 03, 2027

Par Amount

^[33]

$ 1,008

Cost

^[33]

1,018

Fair Value

^[33]

$ 1,008

NSPC Holdings, LLC (National Spine) [Member] | Common Equity/Equity Interests/Warrants 157.9%

Schedule of Investments [Line Items]

Acquisition Date

^[23]

Feb. 13, 2023

Shares/Units

^[23]

207,043

Cost

^[23]

$ 657

Fair Value

^[23]

$ 403

Aero Operating LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Feb. 12, 2021

Par Amount

^[33]

$ 2,129

Cost

^[33]

2,127

Fair Value

^[33]

$ 2,127

Aero Operating LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.47%

Maturity Date

^[33]

Mar. 01, 2025

Aero Operating LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.64%

Maturity Date

^[33]

Dec. 01, 2026

Aero Operating LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Feb. 12, 2021

Par Amount

^[33]

$ 2,264

Cost

^[33]

2,262

Fair Value

^[33]

$ 2,262

Aero Operating LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.47%

Maturity Date

^[33]

Mar. 01, 2025

Aero Operating LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.64%

Maturity Date

^[33]

Dec. 01, 2026

AFG Dallas III, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Acquisition Date

^[33]

Aug. 11, 2022

Par Amount

^[33]

$ 1,342

Cost

^[33]

1,342

Fair Value

^[33]

$ 1,342

AFG Dallas III, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

10.00%

Maturity Date

^[33]

Aug. 11, 2026

AFG Dallas III, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

11.29%

Maturity Date

^[33]

Mar. 01, 2027

AFG Dallas III, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Interest Rate

^[6],[33]

10.00%

Acquisition Date

^[33]

Aug. 11, 2022

Par Amount

^[33]

$ 1,036

Cost

^[33]

1,036

Fair Value

^[33]

$ 1,036

AFG Dallas III, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Aug. 11, 2026

AFG Dallas III, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Aug. 29, 2026

Air Methods Corporation [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Acquisition Date

^[33]

Nov. 03, 2021

Par Amount

^[33]

$ 3,479

Cost

^[33]

3,534

Fair Value

^[33]

$ 3,479

Air Methods Corporation [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

7.08%

Maturity Date

^[33]

Nov. 03, 2026

Air Methods Corporation [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

7.13%

Maturity Date

^[33]

Nov. 23, 2026

Air Methods Corporation [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Acquisition Date

^[33]

Nov. 03, 2021

Par Amount

^[33]

$ 3,600

Cost

^[33]

3,660

Fair Value

^[33]

$ 3,600

Air Methods Corporation [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

7.08%

Maturity Date

^[33]

Nov. 03, 2026

Air Methods Corporation [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

7.13%

Maturity Date

^[33]

Nov. 23, 2026

AmeraMex International, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

10.00%

Acquisition Date

^[33]

Mar. 29, 2019

Maturity Date

^[33]

Sep. 15, 2024

Par Amount

^[33]

$ 911

Cost

^[33]

911

Fair Value

^[33]

$ 921

AmeraMex International, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

10.00%

Acquisition Date

^[33]

Mar. 29, 2019

Maturity Date

^[33]

Sep. 15, 2024

Par Amount

^[33]

$ 1,059

Cost

^[33]

1,059

Fair Value

^[33]

$ 1,069

Bazzini, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Food & Staples Retailing

Interest Rate

^[5],[33]

10.46%

Acquisition Date

^[33]

Dec. 23, 2022

Maturity Date

^[33]

Jan. 01, 2028

Par Amount

^[33]

$ 2,274

Cost

^[33]

2,345

Fair Value

^[33]

$ 2,274

Bazzini, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Food & Staples Retailing

Interest Rate

^[6],[33]

10.46%

Acquisition Date

^[33]

Dec. 23, 2022

Maturity Date

^[33]

Jan. 01, 2028

Par Amount

^[33]

$ 2,365

Cost

^[33]

2,440

Fair Value

^[33]

$ 2,365

Boart Longyear Company [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Metals & Mining

Acquisition Date

^[33]

May 28, 2020

Par Amount

^[33]

$ 3,686

Cost

^[33]

3,686

Fair Value

^[33]

$ 3,686

Boart Longyear Company [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.31%

Maturity Date

^[33]

Jul. 01, 2024

Boart Longyear Company [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

10.44%

Maturity Date

^[33]

Oct. 07, 2026

Boart Longyear Company [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Metals & Mining

Acquisition Date

^[33]

May 28, 2020

Par Amount

^[33]

$ 4,568

Cost

^[33]

4,568

Fair Value

^[33]

$ 4,568

Boart Longyear Company [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.31%

Maturity Date

^[33]

Jul. 01, 2024

Boart Longyear Company [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

10.44%

Maturity Date

^[33]

Oct. 07, 2026

Bowman Energy Solutions, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

7.42%

Acquisition Date

^[33]

Jul. 01, 2022

Maturity Date

^[33]

Aug. 01, 2026

Par Amount

^[33]

$ 144

Cost

^[33]

144

Fair Value

^[33]

$ 144

Bowman Energy Solutions, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

7.42%

Acquisition Date

^[33]

Jul. 01, 2022

Maturity Date

^[33]

Aug. 01, 2026

Par Amount

^[33]

$ 153

Cost

^[33]

153

Fair Value

^[33]

$ 153

C-Port/Stone LLC | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Oil, Gas & Consumable Fuels

Interest Rate

^[5],[33]

8.54%

Acquisition Date

^[33]

Oct. 07, 2022

Maturity Date

^[33]

Nov. 01, 2027

Par Amount

^[33]

$ 6,596

Cost

^[33]

6,414

Fair Value

^[33]

$ 6,399

C-Port/Stone LLC | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Oil, Gas & Consumable Fuels

Interest Rate

^[6],[33]

8.54%

Acquisition Date

^[33]

Oct. 07, 2022

Maturity Date

^[33]

Nov. 01, 2027

Par Amount

^[33]

$ 6,708

Cost

^[33]

6,514

Fair Value

^[33]

$ 6,507

Capital City Jet Center, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Interest Rate

^[5],[33]

10.00%

Acquisition Date

^[33]

Apr. 04, 2018

Par Amount

^[33]

$ 2,012

Cost

^[33]

2,012

Fair Value

^[33]

$ 1,991

Capital City Jet Center, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Oct. 04, 2023

Capital City Jet Center, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Jun. 22, 2026

Capital City Jet Center, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Interest Rate

^[6],[33]

10.00%

Acquisition Date

^[33]

Apr. 04, 2018

Par Amount

^[33]

$ 2,241

Cost

^[33]

2,241

Fair Value

^[33]

$ 2,214

Capital City Jet Center, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Oct. 04, 2023

Capital City Jet Center, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Jun. 22, 2026

Champion Air, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Interest Rate

^[6],[33]

10.00%

Acquisition Date

^[33]

Mar. 19, 2018

Maturity Date

^[33]

Jan. 01, 2023

Par Amount

^[33]

$ 1,055

Cost

^[33]

1,055

Fair Value

^[33]

$ 1,055

CKD Holdings, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Sep. 22, 2022

Par Amount

^[33]

$ 3,490

Cost

^[33]

3,490

Fair Value

^[33]

$ 3,490

CKD Holdings, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.10%

Maturity Date

^[33]

Jun. 22, 2026

CKD Holdings, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.60%

Maturity Date

^[33]

Sep. 22, 2027

CKD Holdings, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Sep. 22, 2022

Par Amount

^[33]

$ 3,690

Cost

^[33]

3,690

Fair Value

^[33]

$ 3,690

CKD Holdings, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.10%

Maturity Date

^[33]

Mar. 22, 2026

CKD Holdings, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.60%

Maturity Date

^[33]

Sep. 22, 2027

Clubcorp Holdings, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Hotels, Restaurants & Leisure

Acquisition Date

^[33]

May 27, 2021

Par Amount

^[33]

$ 7,154

Cost

^[33]

7,154

Fair Value

^[33]

$ 7,154

Clubcorp Holdings, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.36%

Maturity Date

^[33]

Apr. 01, 2025

Clubcorp Holdings, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

13.01%

Maturity Date

^[33]

Apr. 01, 2028

Clubcorp Holdings, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Hotels, Restaurants & Leisure

Acquisition Date

^[33]

May 27, 2021

Par Amount

^[33]

$ 6,539

Cost

^[33]

6,539

Fair Value

^[33]

$ 6,539

Clubcorp Holdings, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.36%

Maturity Date

^[33]

Apr. 01, 2025

Clubcorp Holdings, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

13.01%

Maturity Date

^[33]

Jan. 01, 2028

Dongwon Autopart Technology Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Auto Components

Interest Rate

^[5],[33]

7.96%

Acquisition Date

^[33]

Feb. 02, 2021

Maturity Date

^[33]

Jan. 01, 2026

Par Amount

^[33]

$ 1,692

Cost

^[33]

1,710

Fair Value

^[33]

$ 1,692

Dongwon Autopart Technology Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Auto Components

Interest Rate

^[6],[33]

7.96%

Acquisition Date

^[33]

Feb. 02, 2021

Maturity Date

^[33]

Jan. 01, 2026

Par Amount

^[33]

$ 1,828

Cost

^[33]

1,849

Fair Value

^[33]

$ 1,828

Drillers Choice, Inc [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

8.00%

Acquisition Date

^[33]

Oct. 31, 2022

Maturity Date

^[33]

Nov. 01, 2027

Par Amount

^[33]

$ 1,523

Cost

^[33]

1,523

Fair Value

^[33]

$ 1,523

Drillers Choice, Inc [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

8.00%

Acquisition Date

^[33]

Oct. 31, 2022

Maturity Date

^[33]

Nov. 01, 2027

Par Amount

^[33]

$ 1,589

Cost

^[33]

1,589

Fair Value

^[33]

$ 1,589

EasyPak, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Containers & Packaging

Interest Rate

^[5],[33]

9.01%

Acquisition Date

^[33]

Jan. 06, 2021

Maturity Date

^[33]

Jan. 01, 2024

Par Amount

^[33]

$ 186

Cost

^[33]

186

Fair Value

^[33]

$ 186

EasyPak, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Containers & Packaging

Interest Rate

^[6],[33]

9.01%

Acquisition Date

^[33]

Jan. 06, 2021

Maturity Date

^[33]

Jan. 01, 2024

Par Amount

^[33]

$ 276

Cost

^[33]

276

Fair Value

^[33]

$ 276

Energy Drilling Services, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Acquisition Date

^[33]

Aug. 26, 2022

Par Amount

^[33]

$ 1,262

Cost

^[33]

1,262

Fair Value

^[33]

$ 1,236

Energy Drilling Services, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

6.58%

Maturity Date

^[33]

Dec. 09, 2025

Energy Drilling Services, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.16%

Maturity Date

^[33]

Sep. 01, 2027

Energy Drilling Services, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Acquisition Date

^[33]

Aug. 26, 2022

Par Amount

^[33]

$ 1,321

Cost

^[33]

1,321

Fair Value

^[33]

$ 1,295

Energy Drilling Services, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

6.58%

Maturity Date

^[33]

Dec. 09, 2025

Energy Drilling Services, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.16%

Maturity Date

^[33]

Sep. 01, 2027

Environmental Protection & Improvement Company, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[5],[33]

8.25%

Acquisition Date

^[33]

Sep. 30, 2020

Maturity Date

^[33]

Oct. 01, 2027

Par Amount

^[33]

$ 5,099

Cost

^[33]

5,126

Fair Value

^[33]

$ 5,099

Environmental Protection & Improvement Company, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[6],[33]

8.25%

Acquisition Date

^[33]

Sep. 30, 2020

Maturity Date

^[33]

Oct. 01, 2027

Par Amount

^[33]

$ 5,270

Cost

^[33]

5,300

Fair Value

^[33]

$ 5,270

Equipment Operating Leases, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[13],[34]

Multi-Sector Holdings

Interest Rate

^{[5],[13],[34]}

8.37%

Acquisition Date

^[13],[34]

Apr. 27, 2018

Maturity Date

^[13],[34]

Apr. 27, 2025

Par Amount

^[13],[34]

$ 3,727

Cost

^[13],[34]

3,727

Fair Value

^[13],[34]

$ 3,633

Equipment Operating Leases, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[14],[34]

Multi-Sector Holdings

Interest Rate

^{[6],[14],[34]}

8.37%

Acquisition Date

^[14],[34]

Apr. 27, 2018

Par Amount

^[14],[34]

$ 3,837

Cost

^[14],[34]

3,837

Fair Value

^[14],[34]

$ 3,741

Equipment Operating Leases, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[14],[34]

Apr. 27, 2025

First American Commercial Bancorp, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Financial Services

Acquisition Date

^[33]

Oct. 28, 2021

Par Amount

^[33]

$ 2,778

Cost

^[33]

2,781

Fair Value

^[33]

$ 2,778

First American Commercial Bancorp, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

7.50%

Maturity Date

^[33]

Oct. 01, 2026

First American Commercial Bancorp, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.02%

Maturity Date

^[33]

Mar. 01, 2027

First American Commercial Bancorp, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Financial Services

Acquisition Date

^[33]

Oct. 28, 2021

Par Amount

^[33]

$ 2,938

Cost

^[33]

2,941

Fair Value

^[33]

$ 2,938

First American Commercial Bancorp, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

7.50%

Maturity Date

^[33]

Oct. 01, 2026

First American Commercial Bancorp, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.02%

Maturity Date

^[33]

Mar. 01, 2027

First National Capital, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Financial Services

Interest Rate

^[5],[33]

9.00%

Acquisition Date

^[33]

Nov. 05, 2021

Maturity Date

^[33]

Aug. 01, 2026

Par Amount

^[33]

$ 6,644

Cost

^[33]

6,644

Fair Value

^[33]

$ 6,644

First National Capital, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Financial Services

Interest Rate

^[6],[33]

9.00%

Acquisition Date

^[33]

Nov. 05, 2021

Maturity Date

^[33]

Aug. 01, 2026

Par Amount

^[33]

$ 7,116

Cost

^[33]

7,116

Fair Value

^[33]

$ 7,116

Freightsol LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Apr. 09, 2019

Maturity Date

^[33]

Nov. 01, 2023

Par Amount

^[33]

$ 621

Cost

^[33]

624

Fair Value

^[33]

$ 621

Freightsol LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

12.51%

Freightsol LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

12.89%

Freightsol LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Apr. 09, 2019

Maturity Date

^[33]

Nov. 01, 2023

Par Amount

^[33]

$ 779

Cost

^[33]

784

Fair Value

^[33]

$ 779

Freightsol LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

12.51%

Freightsol LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

12.89%

Garda CL Technical Services, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

8.30%

Acquisition Date

^[33]

Mar. 22, 2018

Par Amount

^[33]

$ 264

Cost

^[33]

264

Fair Value

^[33]

$ 264

Garda CL Technical Services, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Jun. 05, 2023

Garda CL Technical Services, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.77%

Maturity Date

^[33]

Oct. 05, 2023

Garda CL Technical Services, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Mar. 22, 2018

Par Amount

^[33]

$ 469

Cost

^[33]

469

Fair Value

^[33]

$ 468

Garda CL Technical Services, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.30%

Maturity Date

^[33]

Jun. 05, 2023

Garda CL Technical Services, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.77%

Maturity Date

^[33]

Oct. 05, 2023

Georgia Jet, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Interest Rate

^[5],[33]

8.00%

Acquisition Date

^[33]

Dec. 04, 2017

Maturity Date

^[33]

Jan. 04, 2024

Par Amount

^[33]

$ 328

Cost

^[33]

328

Fair Value

^[33]

$ 328

Georgia Jet, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Airlines

Interest Rate

^[6],[33]

8.00%

Acquisition Date

^[33]

Dec. 04, 2017

Maturity Date

^[33]

Jan. 04, 2024

Par Amount

^[33]

$ 425

Cost

^[33]

425

Fair Value

^[33]

$ 425

GMT Corporation [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Machinery

Interest Rate

^[5],[33]

10.71%

Acquisition Date

^[33]

Oct. 23, 2018

Maturity Date

^[33]

Jan. 01, 2026

Par Amount

^[33]

$ 4,564

Cost

^[33]

4,568

Fair Value

^[33]

$ 4,564

GMT Corporation [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Machinery

Interest Rate

^[6],[33]

10.71%

Acquisition Date

^[33]

Oct. 23, 2018

Maturity Date

^[33]

Jan. 01, 2026

Par Amount

^[33]

$ 4,801

Cost

^[33]

4,806

Fair Value

^[33]

$ 4,801

Hawkeye Contracting Company, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Construction & Engineering

Interest Rate

^[5],[33]

10.50%

Acquisition Date

^[33]

Oct. 08, 2021

Maturity Date

^[33]

Nov. 01, 2025

Par Amount

^[33]

$ 923

Cost

^[33]

923

Fair Value

^[33]

$ 923

Hawkeye Contracting Company, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Construction & Engineering

Interest Rate

^[6],[33]

10.50%

Acquisition Date

^[33]

Oct. 08, 2021

Maturity Date

^[33]

Nov. 01, 2025

Par Amount

^[33]

$ 997

Cost

^[33]

997

Fair Value

^[33]

$ 997

HTI Logistics Corporation [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Nov. 15, 2018

Par Amount

^[33]

$ 257

Cost

^[33]

257

Fair Value

^[33]

$ 251

HTI Logistics Corporation [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.69%

Maturity Date

^[33]

May 01, 2024

HTI Logistics Corporation [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.94%

Maturity Date

^[33]

Sep. 01, 2025

HTI Logistics Corporation [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Nov. 15, 2018

Par Amount

^[33]

$ 290

Cost

^[33]

290

Fair Value

^[33]

$ 283

HTI Logistics Corporation [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.69%

Maturity Date

^[33]

May 01, 2024

HTI Logistics Corporation [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.94%

Maturity Date

^[33]

Sep. 01, 2025

International Automotive Components Group, North America, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Auto Components

Interest Rate

^[5],[33]

7.95%

Acquisition Date

^[33]

Jun. 23, 2021

Maturity Date

^[33]

Jun. 23, 2025

Par Amount

^[33]

$ 5,518

Cost

^[33]

5,548

Fair Value

^[33]

$ 5,407

International Automotive Components Group, North America, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Auto Components

Interest Rate

^[6],[33]

7.95%

Acquisition Date

^[33]

Jun. 23, 2021

Maturity Date

^[33]

Jun. 23, 2025

Par Amount

^[33]

$ 6,072

Cost

^[33]

6,109

Fair Value

^[33]

$ 5,951

Kool Pak, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[5],[33]

8.58%

Acquisition Date

^[33]

Feb. 05, 2018

Maturity Date

^[33]

Mar. 01, 2024

Par Amount

^[33]

$ 154

Cost

^[33]

154

Fair Value

^[33]

$ 154

Kool Pak, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[6],[33]

8.58%

Acquisition Date

^[33]

Feb. 05, 2018

Maturity Date

^[33]

Mar. 01, 2024

Par Amount

^[33]

$ 194

Cost

^[33]

194

Fair Value

^[33]

$ 194

Loc Performance Products, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Machinery

Interest Rate

^[5],[33]

10.50%

Acquisition Date

^[33]

Dec. 29, 2022

Maturity Date

^[33]

Jun. 01, 2027

Par Amount

^[33]

$ 744

Cost

^[33]

744

Fair Value

^[33]

$ 744

Loc Performance Products, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Machinery

Interest Rate

^[6],[33]

10.50%

Acquisition Date

^[33]

Dec. 29, 2022

Maturity Date

^[33]

Jun. 01, 2027

Par Amount

^[33]

$ 767

Cost

^[33]

767

Fair Value

^[33]

$ 767

Loyer Capital LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[13],[34]

Multi-Sector Holdings

Acquisition Date

^[13],[34]

May 16, 2019

Par Amount

^[13],[34]

$ 7,500

Cost

^[13],[34]

7,500

Fair Value

^[13],[34]

$ 7,361

Loyer Capital LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[5],[13],[34]}

8.73%

Maturity Date

^[13],[34]

May 16, 2024

Loyer Capital LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[5],[13],[34]}

11.52%

Maturity Date

^[13],[34]

Sep. 25, 2024

Loyer Capital LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[14],[34]

Multi-Sector Holdings

Acquisition Date

^[14],[34]

May 16, 2019

Par Amount

^[14],[34]

$ 7,500

Cost

^[14],[34]

7,500

Fair Value

^[14],[34]

$ 7,361

Loyer Capital LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[6],[14],[34]}

8.73%

Maturity Date

^[14],[34]

May 16, 2024

Loyer Capital LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[6],[14],[34]}

11.52%

Maturity Date

^[14],[34]

Sep. 25, 2024

Lux Credit Consultants, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Jun. 17, 2021

Par Amount

^[33]

$ 14,669

Cost

^[33]

14,669

Fair Value

^[33]

$ 14,669

Lux Credit Consultants, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.28%

Maturity Date

^[33]

Dec. 01, 2024

Lux Credit Consultants, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

12.09%

Maturity Date

^[33]

Dec. 01, 2026

Lux Credit Consultants, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Jun. 17, 2021

Par Amount

^[33]

$ 16,411

Cost

^[33]

16,411

Fair Value

^[33]

$ 16,411

Lux Credit Consultants, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.28%

Maturity Date

^[33]

Dec. 01, 2024

Lux Credit Consultants, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

12.09%

Maturity Date

^[33]

Dec. 01, 2026

Lux Vending, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Consumer Finance

Acquisition Date

^[33]

Aug. 20, 2021

Par Amount

^[33]

$ 1,398

Cost

^[33]

1,416

Fair Value

^[33]

$ 1,398

Lux Vending, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

12.46%

Maturity Date

^[33]

Jul. 20, 2024

Lux Vending, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

13.26%

Maturity Date

^[33]

Oct. 01, 2024

Lux Vending, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Consumer Finance

Acquisition Date

^[33]

Aug. 20, 2021

Par Amount

^[33]

$ 1,638

Cost

^[33]

1,663

Fair Value

^[33]

$ 1,638

Lux Vending, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

12.46%

Maturity Date

^[33]

Aug. 20, 2024

Lux Vending, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

13.26%

Maturity Date

^[33]

Oct. 01, 2024

Mountain Air Helicopters, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

10.00%

Acquisition Date

^[33]

Jul. 31, 2017

Maturity Date

Feb. 28, 2025

Par Amount

^[33]

$ 340

Cost

^[33]

339

Fair Value

^[33]

$ 340

Mountain Air Helicopters, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

10.00%

Acquisition Date

^[33]

Jul. 31, 2017

Maturity Date

^[33]

Feb. 28, 2025

Par Amount

^[33]

$ 369

Cost

^[33]

368

Fair Value

^[33]

$ 369

Ozzies, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

10.72%

Acquisition Date

^[33]

Dec. 23, 2022

Maturity Date

Jan. 01, 2027

Par Amount

^[33]

$ 1,941

Cost

^[33]

2,005

Fair Value

^[33]

$ 1,941

Ozzies, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

10.72%

Acquisition Date

^[33]

Dec. 23, 2022

Maturity Date

^[33]

Jan. 01, 2027

Par Amount

^[33]

$ 2,005

Cost

^[33]

2,072

Fair Value

^[33]

$ 2,005

PCX Aerostructures LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Aerospace & Defense

Interest Rate

^[5],[33]

9.32%

Acquisition Date

^[33]

Nov. 23, 2022

Maturity Date

Dec. 01, 2028

Par Amount

^[33]

$ 2,574

Cost

^[33]

2,574

Fair Value

^[33]

$ 2,574

PCX Aerostructures LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Aerospace & Defense

Interest Rate

^[6],[33]

9.32%

Acquisition Date

^[33]

Nov. 23, 2022

Maturity Date

^[33]

Dec. 01, 2028

Par Amount

^[33]

$ 2,658

Cost

^[33]

2,658

Fair Value

^[33]

$ 2,658

Rane Light Metal Castings Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Machinery

Interest Rate

^[5],[33]

10.00%

Acquisition Date

^[33]

Jun. 01, 2020

Maturity Date

Jun. 01, 2024

Par Amount

^[33]

$ 134

Cost

^[33]

134

Fair Value

^[33]

$ 134

Rane Light Metal Castings Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Machinery

Interest Rate

^[6],[33]

10.00%

Acquisition Date

^[33]

Jun. 01, 2020

Maturity Date

^[33]

Jun. 01, 2024

Par Amount

^[33]

$ 159

Cost

^[33]

159

Fair Value

^[33]

$ 159

Rango, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Sep. 24, 2019

Par Amount

^[33]

$ 1,498

Cost

^[33]

1,515

Fair Value

^[33]

$ 1,470

Rango, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.33%

Maturity Date

^[33]

Jun. 01, 2023

Rango, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

14.75%

Maturity Date

^[33]

Nov. 01, 2024

Rango, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Sep. 24, 2019

Par Amount

^[33]

$ 1,940

Cost

^[33]

1,960

Fair Value

^[33]

$ 1,904

Rango, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.33%

Maturity Date

^[33]

Apr. 01, 2023

Rango, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.79%

Maturity Date

^[33]

Nov. 01, 2024

Royal Coach Lines, Inc.[Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[5],[33]

9.56%

Acquisition Date

^[33]

Nov. 21, 2019

Maturity Date

Aug. 01, 2025

Par Amount

^[33]

$ 785

Cost

^[33]

785

Fair Value

^[33]

$ 716

Royal Coach Lines, Inc.[Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[6],[33]

9.56%

Acquisition Date

^[33]

Nov. 21, 2019

Maturity Date

^[33]

Aug. 01, 2025

Par Amount

^[33]

$ 849

Cost

^[33]

849

Fair Value

^[33]

$ 775

Royal Express Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[5],[33]

9.53%

Acquisition Date

^[33]

Jan. 17, 2019

Maturity Date

Feb. 01, 2024

Par Amount

^[33]

$ 361

Cost

^[33]

362

Fair Value

^[33]

$ 361

Royal Express Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[6],[33]

9.53%

Acquisition Date

^[33]

Jan. 17, 2019

Maturity Date

^[33]

Feb. 01, 2024

Par Amount

^[33]

$ 428

Cost

^[33]

431

Fair Value

^[33]

$ 428

Rotten Rock Hardscaping & Tree Service | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Interest Rate

^[5],[33]

8.21%

Acquisition Date

^[33]

Dec. 06, 2022

Maturity Date

Dec. 06, 2027

Par Amount

^[33]

$ 235

Cost

^[33]

235

Fair Value

^[33]

$ 235

Rotten Rock Hardscaping & Tree Service | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Interest Rate

^[6],[33]

8.21%

Acquisition Date

^[33]

Dec. 06, 2022

Maturity Date

^[33]

Dec. 06, 2027

Par Amount

^[33]

$ 245

Cost

^[33]

245

Fair Value

^[33]

$ 245

Signet Marine Corporation [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Transportation Infrastructure

Interest Rate

^[5],[33]

8.50%

Acquisition Date

^[33]

Oct. 31, 2022

Maturity Date

Nov. 01, 2029

Par Amount

^[33]

$ 13,691

Cost

^[33]

13,739

Fair Value

^[33]

$ 13,691

Signet Marine Corporation [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Transportation Infrastructure

Interest Rate

^[6],[33]

8.50%

Acquisition Date

^[33]

Oct. 31, 2022

Maturity Date

^[33]

Jul. 01, 2029

Par Amount

^[33]

$ 14,102

Cost

^[33]

14,152

Fair Value

^[33]

$ 14,102

SLR Equipment Finance [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[13]

Multi-Sector Holdings

Interest Rate

^[5],[13]

8.50%

Acquisition Date

^[13]

Jan. 24, 2022

Maturity Date

^[13]

Jan. 27, 2024

Par Amount

^[13]

$ 2,500

Cost

^[13]

2,500

Fair Value

^[13]

$ 2,500

SLR Equipment Finance [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[14]

Multi-Sector Holdings

Interest Rate

^[6],[14]

8.50%

Acquisition Date

^[14]

Jan. 24, 2022

Maturity Date

^[14]

Jan. 24, 2023

Par Amount

^[14]

$ 5,000

Cost

^[14]

5,000

Fair Value

^[14]

$ 5,000

Smiley Lifting Solutions, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Jun. 30, 2022

Par Amount

^[33]

$ 4,033

Cost

^[33]

4,033

Fair Value

^[33]

$ 4,033

Smiley Lifting Solutions, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

7.82%

Maturity Date

^[33]

Sep. 15, 2026

Smiley Lifting Solutions, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.28%

Maturity Date

^[33]

Dec. 29, 2029

Smiley Lifting Solutions, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Jun. 30, 2022

Par Amount

^[33]

$ 4,139

Cost

^[33]

4,139

Fair Value

^[33]

$ 4,139

Smiley Lifting Solutions, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

7.82%

Maturity Date

^[33]

Sep. 15, 2026

Smiley Lifting Solutions, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.28%

Maturity Date

^[33]

Dec. 29, 2029

ST Coaches, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Jul. 31, 2017

Par Amount

^[33]

$ 1,482

Cost

^[33]

1,482

Fair Value

^[33]

$ 1,421

ST Coaches, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.47%

Maturity Date

^[33]

Jul. 01, 2023

ST Coaches, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.58%

Maturity Date

^[33]

Jan. 25, 2025

ST Coaches, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Jul. 31, 2017

Par Amount

^[33]

$ 1,521

Cost

^[33]

1,521

Fair Value

^[33]

$ 1,459

ST Coaches, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.47%

Maturity Date

^[33]

Jul. 01, 2023

ST Coaches, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.58%

Maturity Date

^[33]

Jan. 25, 2025

Star Coaches Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[5],[33]

8.42%

Acquisition Date

^[33]

Mar. 09, 2018

Maturity Date

^[33]

Apr. 01, 2025

Par Amount

^[33]

$ 2,751

Cost

^[33]

2,751

Fair Value

^[33]

$ 2,469

Star Coaches Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[6],[33]

8.42%

Acquisition Date

^[33]

Mar. 09, 2018

Maturity Date

^[33]

Apr. 01, 2025

Par Amount

^[33]

$ 2,887

Cost

^[33]

2,887

Fair Value

^[33]

$ 2,591

Superior Transportation, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Jul. 31, 2017

Maturity Date

^[33]

Jan. 01, 2026

Par Amount

^[33]

$ 3,002

Cost

^[33]

3,002

Fair Value

^[33]

$ 3,002

Superior Transportation, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

10.22%

Superior Transportation, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

10.63%

Superior Transportation, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Acquisition Date

^[33]

Jul. 31, 2017

Maturity Date

^[33]

Jan. 01, 2026

Par Amount

^[33]

$ 3,369

Cost

^[33]

3,369

Fair Value

^[33]

$ 3,369

Superior Transportation, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

10.22%

Superior Transportation, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

10.63%

The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

4.07%

Acquisition Date

^[33]

Jul. 31, 2017

Maturity Date

^[33]

Jan. 15, 2028

Par Amount

^[33]

$ 1,630

Cost

^[33]

1,630

Fair Value

^[33]

$ 1,630

The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

4.07%

Acquisition Date

^[33]

Jul. 31, 2017

Par Amount

^[33]

$ 1,706

Cost

^[33]

1,706

Fair Value

^[33]

$ 1,706

The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Maturity Date

^[33]

Jan. 15, 2028

Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Oct. 08, 2021

Par Amount

^[33]

$ 525

Cost

^[33]

525

Fair Value

^[33]

$ 525

Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

7.94%

Maturity Date

^[33]

Nov. 01, 2024

Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.75%

Maturity Date

^[33]

Dec. 01, 2026

Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Acquisition Date

^[33]

Oct. 08, 2021

Par Amount

^[33]

$ 577

Cost

^[33]

577

Fair Value

^[33]

$ 577

Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

7.94%

Maturity Date

^[33]

Nov. 01, 2024

Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.75%

Maturity Date

^[33]

Dec. 01, 2026

U.S. Crane & Rigging, LLC | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[5],[33]

10.92%

Acquisition Date

^[33]

Dec. 23, 2022

Maturity Date

^[33]

Mar. 01, 2027

Par Amount

^[33]

$ 1,946

Cost

^[33]

1,946

Fair Value

^[33]

$ 1,946

U.S. Crane & Rigging, LLC | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Commercial Services & Supplies

Interest Rate

^[6],[33]

10.92%

Acquisition Date

^[33]

Dec. 23, 2022

Maturity Date

^[33]

Mar. 01, 2027

Par Amount

^[33]

$ 2,005

Cost

^[33]

2,005

Fair Value

^[33]

$ 2,005

Up Trucking Services, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[5],[33]

11.21%

Acquisition Date

^[33]

Mar. 23, 2018

Maturity Date

^[33]

Aug. 01, 2024

Par Amount

^[33]

$ 401

Cost

^[33]

403

Fair Value

^[33]

$ 401

Up Trucking Services, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Road & Rail

Interest Rate

^[6],[33]

11.21%

Acquisition Date

^[33]

Mar. 23, 2018

Maturity Date

^[33]

Aug. 01, 2024

Par Amount

^[33]

$ 469

Cost

^[33]

473

Fair Value

^[33]

$ 469

Wind River Environmental, LLC [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Acquisition Date

^[33]

Jul. 31, 2019

Par Amount

^[33]

$ 533

Cost

^[33]

534

Fair Value

^[33]

$ 533

Wind River Environmental, LLC [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.43%

Maturity Date

^[33]

Aug. 01, 2024

Wind River Environmental, LLC [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

10.00%

Maturity Date

^[33]

Oct. 05, 2025

Wind River Environmental, LLC [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Acquisition Date

^[33]

Jul. 31, 2019

Par Amount

^[33]

$ 604

Cost

^[33]

605

Fair Value

^[33]

$ 604

Wind River Environmental, LLC [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.43%

Maturity Date

^[33]

Aug. 01, 2024

Wind River Environmental, LLC [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

10.00%

Maturity Date

^[33]

Oct. 05, 2025

Womble Company, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Energy Equipment & Services

Interest Rate

^[5],[33]

9.11%

Acquisition Date

^[33]

Dec. 27, 2019

Maturity Date

^[33]

Jan. 01, 2025

Par Amount

^[33]

$ 344

Cost

^[33]

344

Fair Value

^[33]

$ 330

Womble Company, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Energy Equipment & Services

Interest Rate

^[6],[33]

9.11%

Acquisition Date

^[33]

Dec. 27, 2019

Maturity Date

^[33]

Jan. 01, 2025

Par Amount

^[33]

$ 386

Cost

^[33]

386

Fair Value

^[33]

$ 371

Worldwide Flight Services, Inc. [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Transportation Infrastructure

Acquisition Date

^[33]

Sep. 23, 2022

Par Amount

^[33]

$ 1,156

Cost

^[33]

1,173

Fair Value

^[33]

$ 1,156

Worldwide Flight Services, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

8.32%

Maturity Date

^[33]

Sep. 23, 2027

Worldwide Flight Services, Inc. [Member] | Equipment Financing 1 26.2%[Member] | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[5],[33]

9.43%

Maturity Date

^[33]

Apr. 01, 2028

Worldwide Flight Services, Inc. [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Transportation Infrastructure

Acquisition Date

^[33]

Sep. 23, 2022

Par Amount

^[33]

$ 304

Cost

^[33]

308

Fair Value

^[33]

$ 304

Worldwide Flight Services, Inc. [Member] | Equipment Financing 1 26.6% | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

8.32%

Maturity Date

^[33]

Sep. 23, 2027

Worldwide Flight Services, Inc. [Member] | Equipment Financing 1 26.6% | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[6],[33]

9.36%

Maturity Date

^[33]

Oct. 28, 2027

Zamborelli Enterprises Pacific Souther Foundation [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Interest Rate

^[5],[33]

8.91%

Acquisition Date

^[33]

Dec. 07, 2022

Maturity Date

^[33]

Jan. 01, 2027

Par Amount

^[33]

$ 682

Cost

^[33]

688

Fair Value

^[33]

$ 682

Zamborelli Enterprises Pacific Souther Foundation [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^[33]

Diversified Consumer Services

Interest Rate

^[6],[33]

8.91%

Acquisition Date

^[33]

Dec. 07, 2022

Maturity Date

^[33]

Jan. 01, 2027

Par Amount

^[33]

$ 707

Cost

^[33]

714

Fair Value

^[33]

$ 707

SLR Equipment Finance Equity Interests [Member] | Equipment Financing 1 26.2%[Member]

Schedule of Investments [Line Items]

Industry

^{[13],[23],[35],[36]}

Multi-Sector Holdings

Acquisition Date

^{[13],[23],[35],[36]}

Jul. 31, 2017

Shares/Units

^{[13],[23],[35],[36]}

200

Cost

^{[13],[23],[35],[36]}

$ 145,000

Fair Value

^{[13],[23],[35],[36]}

$ 120,820

SLR Equipment Finance Equity Interests [Member] | Equipment Financing 1 26.6%

Schedule of Investments [Line Items]

Industry

^{[14],[23],[35],[36]}

Multi-Sector Holdings

Acquisition Date

^{[14],[23],[35],[36]}

Jul. 31, 2017

Shares/Units

^{[14],[23],[35],[36]}

200

Cost

^{[14],[23],[35],[36]}

$ 145,000

Fair Value

^{[14],[23],[35],[36]}

$ 120,820

[1]	Aggregate net unrealized appreciation for U.S. federal income tax purposes is $1,314; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $156,877 and $155,563, respectively, based on a tax cost of $2,087,147. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the senior secured credit facility. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These investments are generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. All investments are Level 3 unless otherwise indicated.
[2]	Aggregate net unrealized appreciation for U.S. federal income tax purposes is $17,187; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $161,053 and $143,866, respectively, based on a tax cost of $2,069,489. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the senior secured credit facility. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These investments are generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. All investments are Level 3 unless otherwise indicated.
[3]	Indicates an investment that is wholly or partially held by the Company through its wholly-owned financing subsidiary SUNS SPV LLC (the “SUNS SPV”). Such investments are pledged as collateral under the Senior Secured Revolving SPV Credit Facility (the “SPV Credit Facility”) (see Note 7 to the consolidated financial statements) and are not generally available to creditors, if any, of the Company.
[4]	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR, SOFR or PRIME rate. These instruments are often subject to a LIBOR, SOFR or PRIME rate floor.
[5]	Floating rate debt investments typically bear interest at a rate determined by reference to the London Interbank Offered Rate (“LIBOR” or “L”), the Secured Overnight Financing Rate (“SOFR” or “S”) or the prime index rate (“PRIME” or “P”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current rate of interest, or in the case of leases the current implied yield, in effect as of March 31, 2023.
[6]	Floating rate debt investments typically bear interest at a rate determined by reference to the London Interbank Offered Rate (“LIBOR” or “L”), the Secured Overnight Financing Rate (“SOFR” or “S”) or the prime index rate (“PRIME” or “P”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current rate of interest, or in the case of leases the current implied yield, in effect as of December 31, 2022.
[7]	Investment is on non-accrual status.
[8]	AmeriMark Interactive, LLC, AmeriMark Direct LLC, AmeriMark Intermediate Sub, Inc., L.T.D. Commodities LLC, Dr. Leonard’s Healthcare Corp. and Amerimark Intermediate Holdings, LLC are each co-Borrowers.
[9]	AmeriMark Interactive, LLC, AmeriMark Direct LLC, AmeriMark Intermediate Sub, Inc., L.T.D. Commodities LLC, Dr. Leonard’s Healthcare Corp. and Amerimark Intermediate Holdings, LLC are each co-Borrowers. Amerimark may elect to defer up to 8.00% of the coupon as PIK.
[10]	Indicates assets that the Company believes may not represent “qualifying assets” under Section 55(a) of the 1940 Act. If we fail to invest a sufficient portion of our assets in qualifying assets, we could be prevented from making follow-on investments in existing portfolio companies or could be required to dispose of investments at inappropriate times in order to comply with the 1940 Act. As of March 31, 2023, on a fair value basis, non-qualifying assets in the portfolio represented 24.3% of the total assets of the Company.
[11]	Indicates assets that the Company believes may not represent “qualifying assets” under Section 55(a) of the 1940 Act. If we fail to invest a sufficient portion of our assets in qualifying assets, we could be prevented from making follow-on investments in existing portfolio companies or could be required to dispose of investments at inappropriate times in order to comply with the 1940 Act. As of December 31, 2022, on a fair value basis, non-qualifying assets in the portfolio represented 24.2% of the total assets of the Company.
[12]	iCIMS, Inc. may elect to defer up to 3.875% of the coupon as PIK.
[13]	Denotes investments in which we are deemed to exercise a controlling influence over the management or policies of a company, as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of the investment. Transactions during the three months ended March 31, 2023 in these controlled investments are as follows:
[14]	Denotes investments in which we are deemed to exercise a controlling influence over the management or policies of a company, as defined in the Investment Company Act of 1940, as amended (“1940 Act”), due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of the investment. Transactions during the year ended December 31, 2022 in these controlled investments are as follows:
[15]	Spread is 5.75% Cash / 0.50% PIK.
[16]	Interest is paid in kind (“PIK”).
[17]	BridgeBio Pharma, Inc. may elect to defer up to 3.00% of the coupon as PIK.
[18]	OmniGuide Holdings, Inc., Domain Surgical, Inc. and OmniGuide, Inc. are co-borrowers.
[19]	OmniGuide Holdings, Inc. may elect to defer up to 10.00% of the coupon as PIK.
[20]	Vapotherm, Inc. may elect to defer up to 9.00% of the coupon as PIK.
[21]	Vapotherm, Inc. may elect to defer up to 8.00% of the coupon as PIK.
[22]	The Company’s investment in SOINT, LLC includes a one dollar investment in common shares.
[23]	Non-income producing security.
[24]	Kingsbridge Holdings, LLC is held through KBH Topco LLC, a Delaware corporation.
[25]	See note 13 to the consolidated financial statements.
[26]	Denotes a Level 1 investment.
[27]	See note 15 to the consolidated financial statements.
[28]	See note 17 to the consolidated financial statements.
[29]	See note 9 to the consolidated financial statements.
[30]	See note 14 to the consolidated financial statements.
[31]	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.
[32]	Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.
[33]	Indicates an investment that is wholly held by the Company through NEFPASS LLC.
[34]	Denotes a subsidiary of SLR Equipment Finance.
[35]	SLR Equipment Finance is held through NEFCORP LLC, a wholly-owned consolidated taxable subsidiary and NEFPASS LLC, a wholly-owned consolidated subsidiary.
[36]	See note 11 to the consolidated financial statements.

Fair Value - Summary of Changes in Fair Value of Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	$ 2,076,767	$ 1,669,496
Net realized gain (loss)	824	(36,238)
Net change in unrealized gain (loss)	(15,830)	$ (20,743)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Unrealized Gain (Loss) on Investments
Purchase of investment securities	161,656	$ 997,095
Proceeds from dispositions of investment securities	(144,823)	(532,843)
Transfers in/out of Level 3	0	0
Closing balance	2,078,594	2,076,767
Net change in unrealized gain (loss)	(15,442)	$ (21,598)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Unrealized Gain (Loss) on Investments
Senior Secured Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	1,245,414	$ 939,690
Net realized gain (loss)	824	(36,244)
Net change in unrealized gain (loss)	(13,469)	(8,065)
Purchase of investment securities	153,570	796,389
Proceeds from dispositions of investment securities	(129,509)	(446,356)
Transfers in/out of Level 3	0	0
Closing balance	1,256,830	1,245,414
Net change in unrealized gain (loss)	(13,081)	(8,920)
Equipment Financing
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	265,952	273,795
Net realized gain (loss)	0	0
Net change in unrealized gain (loss)	60	(6,924)
Purchase of investment securities	7,346	84,168
Proceeds from dispositions of investment securities	(15,314)	(85,087)
Transfers in/out of Level 3	0	0
Closing balance	258,044	265,952
Net change in unrealized gain (loss)	60	(6,924)
Preferred Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	3,801	5,630
Net realized gain (loss)	0	0
Net change in unrealized gain (loss)	(61)	(706)
Purchase of investment securities	61	266
Proceeds from dispositions of investment securities	0	(1,389)
Transfers in/out of Level 3	0	0
Closing balance	3,801	3,801
Net change in unrealized gain (loss)	(61)	(706)
Common Equity/Equity Interests/Warrants
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	561,600	450,381
Net realized gain (loss)	0	6
Net change in unrealized gain (loss)	(2,360)	(5,048)
Purchase of investment securities	679	116,272
Proceeds from dispositions of investment securities	0	(11)
Transfers in/out of Level 3	0	0
Closing balance	559,919	561,600
Net change in unrealized gain (loss)	$ (2,360)	$ (5,048)

Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Note 5. Earnings Per Share

The following table sets forth the computation of basic and diluted net increase in net assets per share resulting from operations, pursuant to ASC

260-10,

for the three months ended March 31, 2023 and 2022:


	Three months ended March 31,
	2023		2022

Earnings per share (basic & diluted)
Numerator - net increase in net assets resulting from operations:	$	6,824	$	1,463
Denominator - weighted average shares:		54,554,651		42,260,826
Earnings per share:	$	0.13	$	0.04

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Other Commitment	$ 336,319	$ 323,663

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events The Company has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the consolidated financial statements were issued. On April 4, 2023, the Board declared a monthly distribution of $0.136667 per share payable on May 2, 2023 to holders of record as of April 20, 2023. On May 9, 2023, our Board authorized an extension of a program for the purpose of repurchasing up to $50,000 of our outstanding shares of common stock. Under the repurchase program, we may, but are not obligated to, repurchase shares of our outstanding common stock in the open market from time to time provided that we comply with our code of ethics and the guidelines specified in Rule 10b-18 of the Exchange Act, including certain price, market volume and timing constraints. In addition, any repurchases will be conducted in accordance with the 1940 Act. Unless further amended or extended by our Board, we expect the repurchase program to be in place until the earlier of May 10, 2024 or until $50,000 of our outstanding shares of common stock have been repurchased. To date, approximately $3,048 of repurchases have been made by us under the repurchase program. The timing and number of additional shares to be repurchased will depend on a number of factors, including market conditions. There are no assurances that we will engage in any repurchases. On May 10, 2023, the Board declared a monthly distribution of $0.136667 per share payable on June 1, 2023 to holders of record as of May 24, 2023.

Financial Highlights - Schedule of Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Per Share Data:
Net asset value, beginning of year	$ 18.33	$ 19.93
Net investment income	0.41	0.32
Net realized and unrealized loss	(0.29)	(0.28)
Net increase in net assets resulting from operations	0.12	0.04
From distributable earnings	(0.41)	(0.41)
From return of capital	0	0
Net asset value, end of period	18.04	19.56
Per share market value, end of period	$ 15.04	$ 18.13	$ 13.91	$ 18.43
Total Return	11.01%	0.60%
Net assets, end of period	$ 984,178	$ 826,417	$ 999,731	$ 842,281
Shares outstanding, end of period	54,554,634	42,260,826	54,555,380
Ratios to average net assets:
Net investment income	2.22%	1.60%
Operating expenses	1.61%	1.33%
Interest and other credit facility expenses	1.53%	0.99%
Total expenses	3.14%	2.32%
Average debt outstanding	$ 1,075,344	$ 815,194
Portfolio turnover ratio	7.00%	4.10%

Fair Value - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring Fair Value - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

$ 2,088,461

$ 2,086,676

Measured at Net Asset Value

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

^[1]

9,534

9,426

Senior Secured Loans

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

1,256,830

1,245,414

Senior Secured Loans | Measured at Net Asset Value

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

^[1]

Equipment Financing

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

258,044

265,952

Equipment Financing | Measured at Net Asset Value

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

^[1]

Preferred Equity

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

3,801

Preferred Equity | Measured at Net Asset Value

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

^[1]

Common Equity/Equity Interests/Warrants

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

569,786

571,509

Common Equity/Equity Interests/Warrants | Measured at Net Asset Value

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

^[1]

9,534

9,426

Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

333

483

Level 1 | Senior Secured Loans

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 1 | Equipment Financing

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 1 | Preferred Equity

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 1 | Common Equity/Equity Interests/Warrants

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

333

483

Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 2 | Senior Secured Loans

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 2 | Equipment Financing

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 2 | Preferred Equity

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 2 | Common Equity/Equity Interests/Warrants

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

2,078,594

2,076,767

Level 3 | Senior Secured Loans

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

1,256,830

1,245,414

Level 3 | Equipment Financing

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

258,044

265,952

Level 3 | Preferred Equity

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

3,801

Level 3 | Common Equity/Equity Interests/Warrants

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

$ 559,919

$ 561,600

[1]

In accordance with ASC 820-10, certain investments that are measured using the net asset value per share (or its equivalent) as a practical expedient for fair value have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities. The portfolio investment in this category is SSLP. See Note 17 for more information on this investment, including its investment strategy and the Company’s unfunded equity commitment to SSLP. This investment is not redeemable by the Company absent an election by the members of the entity to liquidate all investments and distribute the proceeds to the members.

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
INVESTMENT INCOME:
Total investment income	$ 53,547	$ 33,006
EXPENSES:
Management fees (see note 3)	7,706	7,216
Performance-based incentive fees (see note 3)	5,509	0
Interest and other credit facility expenses (see note 7)	15,286	8,328
Administrative services expense (see note 3)	1,508	1,183
Other general and administrative expenses	1,501	2,801
Total expenses	31,510	19,528
Performance-based incentive fees waived (see note 3)	(110)	0
Net expenses	31,400	19,528
Net investment income	22,147	13,478
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS:
Net realized gain on investments and cash equivalents (companies less than 5% owned)	687	30
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	(16,010)	(12,045)
Net realized and unrealized gain (loss) on investments and cash equivalents	(15,323)	(12,015)
Net increase in net assets resulting from operations	$ 6,824	$ 1,463
Earnings Per Share, Basic	$ 0.13	$ 0.04
Earnings Per Share, Diluted	$ 0.13	$ 0.04
Companies less than 5% owned [Member]
INVESTMENT INCOME:
Interest	$ 37,338	$ 20,662
Other income	2,322	63
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	(14,271)	(13,498)
Companies more than 25% owned [Member]
INVESTMENT INCOME:
Interest	2,711	2,561
Dividends	11,176	9,715
Other income	0	5
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	$ (1,739)	$ 1,453

SLR Equipment Finance - Additional Information (Details) $ in Thousands		3 Months Ended
	Sep. 30, 2019 USD ($)	Mar. 31, 2023 USD ($) Customers	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) Customers	Dec. 31, 2021 USD ($)	Jul. 31, 2017 USD ($)
Schedule of Equity Method Investments [Line Items]
Non-recourse debt		$ 1,115,522			$ 1,085,998
Line of credit facility, expiration date			Nov. 13, 2025
SLR Equipment Finance [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage						100.00%
Equity method investment, aggregate cost						$ 209,866
Equity method investment aggregate equity investment						145,000
Equity method investment aggregate investment in investee leases and loans held						64,866
Line of credit facility, maximum borrowing capacity	$ 213,957					150,000
Line of credit facility maximum borrowing capacity with accordion feature	$ 313,957					$ 250,000
Number of funded equipment-backed leases and loans		129		131
Number of Customers \| Customers		53		59
Net investment in lease		$ 188,633		$ 190,830
Assets under lease		236,635		241,813
Equipment backed leases and loans largest position outstanding		19,259		19,259
Equipment backed leases and loans average exposure per customer		3,559		3,234
Non-recourse debt		113,132		$ 114,977
Net income		1,038	$ 594
Gross income		$ 6,337	$ 5,173
Line of credit facility, expiration date	Jul. 31, 2023

SLR Business Credit	3 Months Ended
SLR Business Credit	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
SLR Business Credit	Note 15. SLR Business Credit SUNS acquired 100% of the equity interests of North Mill Capital LLC (“NMC”) on October 20, 2017. NMC is a leading asset-backed lending commercial finance company that provides senior secured asset-backed financings to U.S. based small-to-medium-sized businesses primarily in the manufacturing, services and distribution industries. SUNS invested approximately $51,000 to effect the transaction. Subsequently, SUNS contributed 1% of its equity interest in NMC to ESP SSC Corporation. Immediately thereafter, SUNS and ESP SSC Corporation contributed their equity interests to NorthMill LLC (“North Mill”). On May 1, 2018, North Mill merged with and into NMC, with NMC being the surviving company. SUNS and ESP SSC Corporation then owned 99% and 1% of the equity interests of NMC, respectively. The management team of NMC continues to lead NMC. On June 28, 2019, North Mill Holdco LLC (“NM Holdco”), a newly formed entity and ESP SSC Corporation acquired 100% of Summit Financial Resources, a Salt Lake City-based provider of asset-backed financing to small and medium-sized businesses. As part of this transaction, SUNS 99% interest in the equity of NMC was contributed to NM Holdco. This approximately $15,500 transaction was financed with borrowings on NMC’s credit facility. Effective February 25, 2021, NMC and its related companies are doing business as SLR Business Credit. On June 3, 2021, NMC acquired 100% of Fast Pay Partners LLC, a Los Angeles-based provider of asset-backed financing to digital media companies. The transaction purchase price of $66,671 was financed with equity from SUNS of $19,000 and borrowings on NMC’s credit facility of $47,671. SLRC acquired SLR Business Credit in connection with the Mergers on April 1, 2022. SLR Business Credit currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of March 31, 2023, the portfolio totaled approximately $596,999 of commitments, of which $242,400 were funded, on total assets of $287,345. As of December 31, 2022, the portfolio totaled approximately $603,432 of commitments, of which $286,006 were funded, on total assets of $332,247. At March 31, 2023, the portfolio consisted of 100 issuers with an average balance of approximately $2,424 versus 108 issuers with an average balance of approximately $2,648 at December 31, 2022. NMC has a senior credit facility with a bank lending group for $285,307 which expires on November 13, 2025. Borrowings are secured by substantially all of NMC’s assets. NMC’s credit facility, which is non-recourse to us, had approximately $183,460 and $214,425 of borrowings outstanding at March 31, 2023 and December 31, 2022, respectively. For the three months ended March 31, 2023 and 2022, SLR Business Credit had net income of $2,017 and $1,869 respectively, on gross income of $9,331 and $6,145, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in SLR Business Credit’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that SLR Business Credit will be able to maintain consistent dividend payments to us.

Financial Highlights - Schedule of Financial Highlights (Parentheticals) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Investment Company, Financial Highlights [Abstract]
Fair value of common stock per share	$ 15.04	$ 18.13	$ 13.91	$ 18.43
Investment company, expense ratio excluding incentive fee	1.62%	3.15%

Significant Accounting Policies

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Significant Accounting Policies

Note 2. Significant Accounting Policies

The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”), and include the accounts of the Company and certain wholly-owned subsidiaries. The consolidated financial statements reflect all adjustments and reclassifications which, in the opinion of management, are necessary for the fair presentation of the results of the operations and financial condition for the periods presented. All significant intercompany balances and transactions have been eliminated. Certain prior period amounts may have been reclassified to conform to the current period presentation.

Interim consolidated financial statements are prepared in accordance with GAAP for interim financial information and pursuant to the requirements for reporting on Form

10-Q

and Regulation

S-X,

as appropriate. Accordingly, they may not include all of the information and notes required by GAAP for annual consolidated financial statements. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reported periods. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ materially. The current period’s results of operations will not necessarily be indicative of results that ultimately may be achieved for the fiscal year ending on December 31,

2023.

In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair presentation of financial statements, have been included.

The significant accounting policies consistently followed by the Company are:

(a)

Investment transactions are accounted for on the trade date;

(b)

Under procedures established by the board of directors (the “Board”), we value investments, including certain senior secured debt, subordinated debt and other debt securities with maturities greater than 60 days, for which market quotations are readily available and deemed to represent fair value under U.S. GAAP, at such market quotations (unless they are deemed not to represent fair value). A market quotation is readily available for a security only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Company can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. If the Company anticipates using a market quotation for a security, it will also monitor for circumstances that may necessitate the use of fair value, such as significant events that may cause concern over the reliability of a market quotation. We attempt to obtain market quotations from at least two brokers or dealers (if available, otherwise from a principal market maker or a primary market dealer or other independent pricing service). We utilize

mid-market

pricing as a practical expedient for fair value unless a different point within the range is more representative. If and when market quotations are deemed not to represent fair value, we may utilize independent third-party valuation firms to assist us in determining the fair value of material assets. Accordingly, such investments go through our multi-step valuation process as described below. In each such case, independent valuation firms, that may from time to time be engaged by the Board, consider observable market inputs together with significant unobservable inputs in arriving at their valuation recommendations. Debt investments with maturities of 60 days or less shall each be valued at cost plus accreted discount, or minus amortized premium, which is expected to approximate fair value, unless such valuation, in the judgment of the Investment Adviser, does not represent fair value, in which case such investments shall be valued at fair value as determined in good faith by or under the direction of the Board. Investments that are not publicly traded or whose market quotations are not readily available are valued at fair value as determined in good faith by or under the direction of the Board. Such determination of fair values involves subjective judgments and estimates.

With respect to investments for which market quotations are not readily available or when such market quotations are deemed not to represent fair value under U.S. GAAP, the Board has approved a multi-step valuation process each quarter, as described below:

(1)

our quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the portfolio investment;

(2)

preliminary valuation conclusions are then documented and discussed with senior management of the Investment Adviser;

(3)

independent valuation firms engaged by the Board conduct independent appraisals and review the Investment Adviser’s preliminary valuations and make their own independent assessment for all material assets;

(4)

the audit committee of the Board reviews the preliminary valuation of the Investment Adviser and that of the independent valuation firm and responds to the valuation recommendation of the independent valuation firm, if any, to reflect any comments; and

(5)

the Board discusses valuations and determines the fair value of each investment in our portfolio in good faith based on the input of the Investment Adviser, the respective independent valuation firm, if any, and the audit committee.

The valuation principles set forth above may be modified from time to time, in whole or in part, as determined by the Board in its sole discretion. The Board will also (1) periodically assess and manage valuation risks; (2) establish and apply fair value methodologies; (3) test fair value methodologies; (4) oversee and evaluate third-party pricing services, as applicable; (5) oversee the reporting required by Rule

2a-5

under the 1940 Act; and (6) maintain recordkeeping requirements under Rule

2a-5.

Investments in all asset classes are valued utilizing a market approach, an income approach, or both approaches, as appropriate. However, in accordance with ASC

820-10,

certain investments that qualify as investment companies in accordance with ASC 946, may be valued using net asset value as a practical expedient for fair value. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities (including a business). The income approach uses valuation approaches to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts. In following these approaches, the types of factors that we may take into account in fair value pricing our investments include, as relevant: available current market data, including relevant and applicable market trading and transaction comparables, applicable market yields and multiples, security covenants, call protection provisions, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, its earnings and discounted cash flows, the markets in which the portfolio company does business, comparisons of financial ratios of peer companies that are public, M&A comparables, our principal market (as the reporting entity) and enterprise values, among other factors. When available, broker quotations and/or quotations provided by pricing services are considered as an input in the valuation process. For the three months ended March 31, 2023, there has been no change to the Company’s valuation approaches or techniques and the nature of the related inputs considered in the valuation process.

ASC Topic 820 classifies the inputs used to measure these fair values into the following hierarchy:

Level

: Unadjusted quoted prices in active markets for identical assets or liabilities, accessible by the Company at the measurement date.

Level

: Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices.

Level

: Unobservable inputs for the asset or liability.

In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The exercise of judgment is based in part on our knowledge of the asset class and our prior experience.

(c)

Gains or losses on investments are calculated by using the specific identification method.

(d)

The Company records dividend income and interest, adjusted for amortization of premium and accretion of discount, on an accrual basis. Loan origination fees, original issue discount, and market discounts are capitalized and we amortize such amounts into income using the effective interest method. Upon the prepayment of a loan, any unamortized loan origination fees are recorded as interest income. We record call premiums received on loans repaid as interest income when we receive such amounts. Capital structuring fees, amendment fees, consent fees, and any other

non-recurring

fee income as well as a management fee and other fee income for services rendered, if any, are recorded as other income when earned.

(e)

The Company intends to comply with the applicable provisions of the Code pertaining to regulated investment companies to make distributions of taxable income sufficient to relieve it of substantially all U.S. federal income taxes. The Company, at its discretion, may carry forward taxable income in excess of calendar year distributions and pay a 4% excise tax on this income. The Company will accrue excise tax on such estimated excess taxable income as appropriate.

(f)

Book and tax basis differences relating to stockholder distributions and other permanent book and tax differences are typically reclassified among the Company’s capital accounts annually. In addition, the character of income and gains to be distributed is determined in accordance with income tax regulations that may differ from GAAP.

(g)

Distributions to common stockholders are recorded as of the record date. The amount to be paid out as a distribution is determined by the Board. Net realized capital gains, if any, are generally distributed or deemed distributed at least annually.

(h)

In accordance with Regulation

S-X

and ASC Topic 810—

Consolidation

, the Company consolidates its interest in controlled investment company subsidiaries, financing subsidiaries and certain wholly-owned holding companies that serve to facilitate investment in portfolio companies. In addition, the Company may also consolidate any controlled operating companies substantially all of whose business consists of providing services to the Company.

(i)

The accounting records of the Company are maintained in U.S. dollars. Any assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the rate of exchange of such currencies against U.S. dollars on the date of valuation. The Company will not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations would be included with the net unrealized gain or loss from investments. The Company’s investments in foreign securities, if any, may involve certain risks, including without limitation: foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments in terms of U.S. dollars and therefore the earnings of the Company.

(j)

In accordance with ASC

835-30,

the Company reports origination and other expenses related to certain debt issuances as a direct deduction from the carrying amount of the debt liability. Applicable expenses are deferred and amortized using either the effective interest method or the straight-line method over the stated life. The straight-line method may be used on revolving facilities and/or when it approximates the effective yield method.

(k)

The Company may enter into forward exchange contracts in order to hedge against foreign currency risk. These contracts are

marked-to-market

by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation. Realized gains or losses are recognized when contracts are settled.

(l)

The Company records expenses related to shelf registration statements and applicable equity offering costs as prepaid assets. These expenses are typically charged as a reduction of capital upon the sale of shares or expensed, in accordance with ASC

946-20-25.

(m)

Investments that are expected to pay regularly scheduled interest in cash are generally placed on

non-accrual

status when principal or interest cash payments are past due 30 days or more (90 days or more for equipment financing) and/or when it is no longer probable that principal or interest cash payments will be collected. Such

non-accrual

investments are restored to accrual status if past due principal and interest are paid in cash, and in management’s judgment, are likely to continue timely payment of their remaining principal and interest obligations. Cash interest payments received on such investments may be recognized as income or applied to principal depending on management’s judgment.

(n)

The Company defines cash equivalents as securities that are readily convertible into known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only securities with a maturity of three months or less would qualify, with limited exceptions. The Company believes that certain U.S. Treasury bills, repurchase agreements and other high-quality, short-term debt securities would qualify as cash equivalents.

SLR Senior Lending Program LLC - Summary financial information for SSLP (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

Dec. 31, 2022

Mar. 31, 2023

Mar. 31, 2022

Condensed Financial Statements, Captions [Line Items]

Cash and other assets

$ 2,504,266

$ 2,513,543

Total assets

2,537,695

2,556,199

Debt outstanding

1,085,998

1,115,522

Total liabilities

1,537,964

1,572,021

Organizational costs

1,508

$ 1,183

Other general and administrative expenses

1,501

2,801

Total expenses

31,510

19,528

Net investment income (loss)

22,147

13,478

Realized gain on investments

687

Net change in unrealized gain on investments

(16,010)

(12,045)

Net realized and unrealized gain on investments

(15,323)

(12,015)

Net loss

6,824

$ 1,463

SLR Senior Lending Program LLC [Member]

Condensed Financial Statements, Captions [Line Items]

Investments at fair value (cost $18,032)

^[1],[2]

18,062

44,756

Cash and other assets

1,043

1,244

Total assets

19,105

46,000

Debt outstanding

26,623

Interest payable and other credit facility related expenses

165

170

Accrued expenses and other payables

139

Total liabilities

254

26,932

Members' equity

18,851

19,068

Total liabilities and members' equity

19,105

46,000

Interest income

152

1,009

Service fees

^[3]

Interest and other credit facility expenses

166

805

Organizational costs

Other general and administrative expenses

Total expenses

331

862

Net investment income (loss)

(179)

147

Realized gain on investments

Net change in unrealized gain on investments

Net realized and unrealized gain on investments

Net loss

$ (149)

$ 217

[1]	Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.
[2]	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.
[3]	Service fees are included within the Company’s Consolidated Statements of Operations as other income.

SLR Equipment Finance	3 Months Ended
SLR Equipment Finance	Mar. 31, 2023
Schedule of Equity Method Investments [Line Items]
SLR Equipment Finance	Note 13. Kingsbridge Holdings, LLC On November 3, 2020, the Company acquired 87.5% of the equity securities of Kingsbridge Holdings, LLC (“KBH”) through KBH Topco LLC (“KBHT”), a Delaware corporation. KBH is a residual focused independent mid-ticket lessor of equipment primarily to U.S. investment grade companies. The Company invested $216,596 to effect the transaction, of which $136,596 was invested to acquire 87.5% of KBHT’s equity and $80,000 in KBH’s debt. The existing management team of KBH committed to continuing to lead KBH after the transaction. Following the transaction, the Company owns 87.5% of KBHT equity and the KBH management team owns the remaining 12.5% of KBHT’s equity. As of March 31, 2023 and December 31, 2022, KBHT had total assets of $778,489 and $777,151, respectively. For the same periods, debt recourse to KBHT totaled $225,119 and $222,094, respectively, and non-recourse debt totaled $360,090 and $353,128, respectively. None of the debt is recourse to the Company. For the three months ended March 31, 2023 and 2022, KBHT had net income of $2,627 and $3,399, respectively, on gross income of $68,007 and $66,426, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in KBHT’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that KBHT will be able to maintain consistent dividend payments to us.
SLR Equipment Finance [Member]
Schedule of Equity Method Investments [Line Items]
SLR Equipment Finance	Note 11. SLR Equipment Finance On July 31, 2017, we acquired a 100% equity interest in NEF Holdings, LLC, which conducts its business through its wholly-owned subsidiary Nations Equipment Finance, LLC. Effective February 25, 2021, Nations Equipment Finance, LLC and its related companies are doing business as SLR Equipment Finance (“SLR Equipment”). SLR Equipment is an independent equipment finance company that provides senior secured loans and leases primarily to U.S. based companies. We invested $209,866 in cash to effect the transaction, of which $145,000 was invested in the equity of SLR Equipment through our wholly-owned consolidated taxable subsidiary NEFCORP LLC and our wholly-owned consolidated subsidiary NEFPASS LLC and $64,866 was used to purchase certain leases and loans held by SLR Equipment through NEFPASS LLC. Concurrent with the transaction, SLR Equipment refinanced its existing senior secured credit facility into a $150,000 non-recourse facility with an accordion feature to expand up to $250,000. In September 2019, SLR Equipment amended the facility, increasing commitments to $213,957 with an accordion feature to expand up to $313,957 and extended the maturity date of the facility to July 31, 2023. As of March 31, 2023, SLR Equipment had 129 funded equipment-backed leases and loans to 53 different customers with a total net investment in leases and loans of approximately $188,633 on total assets of $236,635. As of December 31, 2022, SLR Equipment had 131 funded equipment-backed leases and loans to 59 different customers with a total net investment in leases and loans of approximately $190,830 on total assets of $241,813. As of March 31, 2023 and December 31, 2022, the largest position outstanding totaled $19,259 and $19,259, respectively. For the same periods, the average exposure per customer was $3,559 and $3,234, respectively. SLR Equipment’s credit facility, which is non-recourse to the Company, had approximately $113,132 and $114,977 of borrowings outstanding at March 31, 2023 and December 31, 2022, respectively. For the three months ended March 31, 2023 and March 31, 2022, SLR Equipment had net income of $1,038 and $594, respectively, on gross income of $6,337 and $5,173, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions.

Stock Repurchase Program - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	May 03, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Stock repurchase program, authorized amount	$ 50,000
Stock repurchase program expiration date	May 01, 2023
Stock Repurchased During Period, Shares		746	0	217,271
Shares Issued, Price Per Share		$ 14.02		$ 13.98
Stock Repurchased During Period, Value		$ 10	$ 0	$ 3,038

Net Asset Value Per Share	3 Months Ended
Net Asset Value Per Share	Mar. 31, 2023
Net Asset Value Per Share [Abstract]
Net Asset Value Per Share	Note 4. Net Asset Value Per Share At March 31, 2023, the Company’s total net assets and net asset value per share were $984,178 and $18.04, respectively. This compares to total net assets and net asset value per share at December 31, 2022 of $999,731 and $18.33, respectively.

Capital Share Transactions (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Transactions in capital stock were as follows:


	Shares					Amount
	For the three months ended March 31, 2023			For the three months ended March 31, 2022		For the three months ended March 31, 2023			For the three months ended March 31, 2022
Shares repurchased		(746	)		—	$	(10	)	$	—

Consolidated Schedule of Investments (Parenthetical) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Percentage representing senior secured loans in investments owned

127.70%

124.60%

Percentage representing equipment financing in investments owned

26.20%

26.60%

Percentage representing preferred equity in investments owned

0.40%

Percentage representing common equity or equity interests or warrants owned

57.90%

57.10%

Percentage representing total investments in investments owned

212.20%

208.70%

Percentage representing cash equivalents in investments owned

43.20%

41.80%

Percentage representing total investments and cash equivalents in investments owned

255.40%

250.50%

Percentage representing liabilities in excess of other assets in investments owned

(155.40%)

(150.50%)

Percentage representing net assets in investments owned

100.00%

Percentage of outstanding voting securities of the investment

25.00%

Percentage of non-qualifying assets in the portfolio of total assets

24.30%

24.20%

Tax Basis of Investments, Unrealized Appreciation (Depreciation), Net

$ 1,314

$ 17,187

Tax Basis of Investments, Gross, Unrealized Appreciation

156,877

161,053

Tax Basis of Investments, Gross, Unrealized Depreciation

155,563

143,866

Investment Owned tax costs

$ 2,087,147

$ 2,069,489

Spread One [Member]

Percentage spread as cash

5.75%

Percentage spread as paid in kind

0.50%

Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

$ 797,594

$ 706,203

Gross Additions

2,561

131,369

Gross Reductions

5,111

20,722

Net realized gain (loss)

Net change in unrealized gain (loss)

(1,739)

(18,630)

Interest/Dividend Income

13,887

53,898

Ending balance

793,328

797,594

Equipment Operating Leases LLC [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

3,741

18,939

Gross Additions

Gross Reductions

111

15,833

Net realized gain (loss)

Net change in unrealized gain (loss)

635

Interest/Dividend Income

749

Ending balance

3,633

3,741

Kingsbridge Holdings, LLC [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

80,000

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(23)

(87)

Interest/Dividend Income

2,380

7,402

Ending balance

80,000

KBH Topco LLC (Kingsbridge) [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

148,444

145,996

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

2,448

Interest/Dividend Income

3,500

15,225

Ending balance

148,444

Loyer Capital LLC [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

7,361

10,725

Gross Additions

Gross Reductions

3,500

Net realized gain (loss)

Net change in unrealized gain (loss)

136

Interest/Dividend Income

186

1,003

Ending balance

7,361

RD Holdco Inc Common Equity [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Interest/Dividend Income

Ending balance

RD Holdco Inc Class B [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

5,216

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(5,216)

Interest/Dividend Income

Ending balance

RD Holdco Inc Warrants [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Interest/Dividend Income

Ending balance

RD Holdco Inc Debt [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

6,521

11,829

Gross Additions

685

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

234

(5,280)

Interest/Dividend Income

(18)

Ending balance

6,755

6,521

SLR Business Credit [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

89,370

Gross Additions

81,583

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

1,000

7,787

Interest/Dividend Income

1,750

5,150

Ending balance

90,370

89,370

SLR Credit Solutions [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

288,760

298,766

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(3,500)

(10,006)

Interest/Dividend Income

5,000

20,500

Ending balance

285,260

288,760

SLR Equipment Finance Equity [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

120,820

129,102

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(8,282)

Interest/Dividend Income

Ending balance

120,820

SLR Equipment Finance Debt [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

5,000

Gross Additions

2,500

5,000

Gross Reductions

5,000

Net realized gain (loss)

Net change in unrealized gain (loss)

Interest/Dividend Income

379

Ending balance

2,500

5,000

SLR Healthcare ABL [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

34,350

Gross Additions

34,335

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

500

Interest/Dividend Income

865

2,595

Ending balance

34,850

34,350

SLR Senior Lending Program LLC [Member]

Investment Company Change in Net Assets

Beginning balance

^[1],[2]

18,062

Ending balance

^[1],[2]

44,756

18,062

SLR Senior Lending Program LLC [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

9,426

Gross Additions

9,500

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

108

(74)

Interest/Dividend Income

Ending balance

9,534

9,426

SOAGG LLC [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

1,121

Gross Additions

Gross Reductions

447

Net realized gain (loss)

Net change in unrealized gain (loss)

(674)

Interest/Dividend Income

647

Ending balance

SOINT LLC [Member] | Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

3,801

4,509

Gross Additions

266

Gross Reductions

942

Net realized gain (loss)

Net change in unrealized gain (loss)

(61)

(32)

Interest/Dividend Income

266

Ending balance

$ 3,801

[1]	Represents the fair value in accordance with ASC Topic 820. The determination of such fair value is not included in the Board’s valuation process described elsewhere herein.
[2]	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of unfunded debt and equity commitments

The total amount of these unfunded commitments as of March 31, 2023 and December 31, 2022 is $336,319 and $323,663, respectively, comprised of the following:


	March 31, 2023		December 31, 2022

SLR Credit Solutions*	$	44,263	$	44,263
Outset Medical, Inc		35,084		35,084
Apeel Technology, Inc		32,786		32,786
CC SAG Holdings Corp. (Spectrum Automotive)..		20,670		20,670
Human Interest, Inc		20,104		20,104
Glooko, Inc		17,868		17,868
ONS MSO, LLC		10,961		—
iCIMS, Inc		10,360		11,435
BDG Media, Inc		10,224		3,546
World Insurance Associates, LLC		9,190		17,117
Spectrum Pharmaceuticals, Inc.		8,771		8,771
Arcutis Biotherapeutics, Inc		8,356		8,356
Atria Wealth Solutions, Inc		8,215		8,215
Copper River Seafoods, Inc.		7,857		3,595
Ardelyx, Inc		7,752		7,752
Luxury Asset Capital, LLC		7,500		7,500
Cerapedics, Inc		6,735		6,735
United Digestive MSO Parent, LLC		5,259		—
RSC Acquisition, Inc		5,002		7,498
Kaseya, Inc		3,807		3,936
Urology Management Holdings, Inc		3,596		—
SLR Equipment Finance		3,500		1,000
Vessco Midco Holdings, LLC		3,455		3,892
Meditrina, Inc		3,367		3,367
One Touch Direct, LLC		3,185		3,069
DeepIntent, Inc		3,118		3,049
Foundation Consumer Brands, LLC		3,009		3,009
Maurices, Incorporated		2,745		4,314
Basic Fun, Inc		2,687		2,675
Kid Distro Holdings, LLC		2,650		2,650
SPAR Marketing Force, Inc.		2,551		1,338
SCP Eye Care, LLC		2,388		2,771
Ultimate Baked Goods Midco LLC		2,224		1,636
Pediatric Home Respiratory Services, LLC		1,805		1,805
Southern Orthodontic Partners Management, LLC		1,586		1,918
Montefiore Nyack Hospital		1,400		1,034
SLR Healthcare ABL*		1,400		1,400
RxSense Holdings LLC		1,250		1,250
Erie Construction Mid-west, LLC		1,248		1,248
American Teleconferencing Services, Ltd		1,137		1,090
Enverus Holdings, Inc		1,004		1,004
Orthopedic Care Partners Management, LLC.		971		1,620
Composite Technology Acquisition Corp		970		1,537
Pinnacle Treatment Centers, Inc.		960		1,745
SunMed Group Holdings, LLC		908		843
GSM Acquisition Corp		862		784
Tilley Distribution, Inc.		635		525
High Street Buyer, Inc.		327		327
ENS Holdings III Corp, LLC		317		144
TAUC Management, LLC		294		294
All State Ag Parts, LLC		6		135
Plastics Management, LLC		—		2,424
Ivy Fertility Services, LLC		—		1,571
NAC Holdings Corporation		—		1,479
Peter C. Foy & Associates Insurance Services, LLC.		—		1,094
BayMark Health Services, Inc.		—		391

Total Commitments	$	336,319	$	323,663

*	The Company controls the funding of the SLR Credit Solutions and SLR Healthcare ABL commitments and may cancel them at its discretion.

SLR Senior Lending Program LLC - Additional Information (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended
	Dec. 12, 2022	Dec. 31, 2019	Dec. 31, 2022	Mar. 31, 2023	Oct. 12, 2022
Summary of Investment Holdings [Line Items]
Other Commitment			$ 323,663	$ 336,319
Debt Instrument, Maturity Date		Dec. 15, 2024
total assets			2,537,695	2,556,199
Unfunded Debt and Equity Commitments [Member]
Summary of Investment Holdings [Line Items]
Other Commitment			323,663	336,319
SLR Senior Lending Program LLC [Member]
Summary of Investment Holdings [Line Items]
Other Ownership Interests, Contributed Capital				19,000
total assets			19,105	46,000
Payments to Acquire Investments			18,100	29,829
Prepaid Expense			$ 68	3,215
SLR Senior Lending Program LLC [Member] \| Unfunded Debt and Equity Commitments [Member]
Summary of Investment Holdings [Line Items]
Other Commitment					$ 100,000
SLR Senior Lending Program LLC [Member] \| Senior Secured Revolving Credit Facility [Member] \| SLR Senior Lending Program SPV LLC [Member]
Summary of Investment Holdings [Line Items]
Long-term Line of Credit	$ 100,000			27,900
Debt Instrument, Maturity Date	Dec. 12, 2027
SLR Senior Lending Program LLC [Member] \| Senior Secured Revolving Credit Facility [Member] \| SLR Senior Lending Program SPV LLC [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Summary of Investment Holdings [Line Items]
Line of Credit Facility, Interest Rate During Period	3.25%
SLR Senior Lending Program LLC [Member] \| Investor \| Unfunded Debt and Equity Commitments [Member]
Summary of Investment Holdings [Line Items]
Other Commitment				40,500	50,000
SLR Senior Lending Program LLC [Member] \| Management \| Unfunded Debt and Equity Commitments [Member]
Summary of Investment Holdings [Line Items]
Other Commitment				$ 40,500	$ 50,000

Capital Share Transactions

3 Months Ended

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

Capital Share Transactions

Note 12. Capital Share Transactions

As of March 31, 2023 and March 31, 2022, 200,000,000 shares of $0.01 par value capital stock were authorized.

Transactions in capital stock were as follows:


	Shares					Amount
	For the three months ended March 31, 2023			For the three months ended March 31, 2022		For the three months ended March 31, 2023			For the three months ended March 31, 2022
Shares repurchased		(746	)		—	$	(10	)	$	—

N-2 - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Cover [Abstract]

Entity Central Index Key

0001418076

Amendment Flag

false

Securities Act File Number

814-00754

Document Type

10-Q

Entity Registrant Name

SLR INVESTMENT CORP.

Entity Address, Address Line One

500 Park Avenue

Entity Address, City or Town

New York

Entity Address, State or Province

Entity Address, Postal Zip Code

10022

City Area Code

212

Local Phone Number

993-1670

Entity Emerging Growth Company

false

Financial Highlights [Abstract]

Senior Securities [Table Text Block]

Information about our senior securities is shown in the following table (in thousands) as of the quarter ended March 31, 2023 and each year ended December 31 for the past ten years, unless otherwise noted. The “—” indicates information which the SEC expressly does not require to be disclosed for certain types of senior securities.


Class and Year	Total Amount Outstanding(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit(4)
Credit Facility
Fiscal 2023 (through March 31, 2023)	$	388,000	$	649		—		N/A
Fiscal 2022		293,000		513		—		N/A
Fiscal 2021		222,500		552		—		N/A
Fiscal 2020		126,000		421		—		N/A
Fiscal 2019		42,900		182		—		N/A
Fiscal 2018		96,400		593		—		N/A
Fiscal 2017		245,600		1,225		—		N/A
Fiscal 2016		115,200		990		—		N/A
Fiscal 2015		207,900		1,459		—		N/A
Fiscal 2014		—		—		—		N/A
Fiscal 2013		—		—		—		N/A
SPV Credit Facility
Fiscal 2023 (through March 31, 2023)		164,200		275		—		N/A
Fiscal 2022		155,200		272		—		N/A
2022 Unsecured Notes
Fiscal 2022		—		—		—		N/A
Fiscal 2021		150,000		372		—		N/A
Fiscal 2020		150,000		501		—		N/A
Fiscal 2019		150,000		638		—		N/A
Fiscal 2018		150,000		923		—		N/A
Fiscal 2017		150,000		748		—		N/A
Fiscal 2016		50,000		430		—		N/A
2022 Tranche C Notes
Fiscal 2022		—		—		—		N/A
Fiscal 2021		21,000		52		—		N/A
Fiscal 2020		21,000		70		—		N/A
Fiscal 2019		21,000		89		—		N/A
Fiscal 2018		21,000		129		—		N/A
Fiscal 2017		21,000		105		—		N/A
2023 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		—		—		—		N/A
Fiscal 2022		75,000		131		—		N/A
Fiscal 2021		75,000		186		—		N/A
Fiscal 2020		75,000		250		—		N/A
Fiscal 2019		75,000		319		—		N/A
Fiscal 2018		75,000		461		—		N/A
Fiscal 2017		75,000		374		—		N/A
2024 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		125,000		209		—		N/A
Fiscal 2022		125,000		219		—		N/A
Fiscal 2021		125,000		309		—		N/A
Fiscal 2020		125,000		417		—		N/A
Fiscal 2019		125,000		531		—		N/A
2025 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		85,000		142		—		N/A
Fiscal 2022		85,000		149		—		N/A
2026 Unsecured Notes


Class and Year	Total Amount Outstanding(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit(4)
Fiscal 2023 (through March 31, 2023)		75,000		125		—		N/A
Fiscal 2022		75,000		131		—		N/A
Fiscal 2021		75,000		186		—		N/A
Fiscal 2020		75,000		250		—		N/A
Fiscal 2019		75,000		319		—		N/A
2027 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		50,000		84		—		N/A
Fiscal 2022		50,000		88		—		N/A
Fiscal 2021		50,000		124		—		N/A
2027 Series F Unsecured Notes
Fiscal 2023 (through March 31, 2023)		135,000		226		—		N/A
Fiscal 2022		135,000		237		—		N/A
2042 Unsecured Notes
Fiscal 2017		—		—		—		N/A
Fiscal 2016		100,000		859		—	$	1,002
Fiscal 2015		100,000		702		—		982
Fiscal 2014		100,000		2,294		—		943
Fiscal 2013		100,000		2,411		—		934
Senior Secured Notes
Fiscal 2017		—		—		—		N/A
Fiscal 2016		75,000		645		—		N/A
Fiscal 2015		75,000		527		—		N/A
Fiscal 2014		75,000		1,721		—		N/A
Fiscal 2013		75,000		1,808		—		N/A
Term Loans
Fiscal 2023 (through March 31, 2023)		100,000		167		—		N/A
Fiscal 2022		100,000		175		—		N/A
Fiscal 2021		100,000		248		—		N/A
Fiscal 2020		75,000		250		—		N/A
Fiscal 2019		75,000		319		—		N/A
Fiscal 2018		50,000		308		—		N/A
Fiscal 2017		50,000		250		—		N/A
Fiscal 2016		50,000		430		—		N/A
Fiscal 2015		50,000		351		—		N/A
Fiscal 2014		50,000		1,147		—		N/A
Fiscal 2013		50,000		1,206		—		N/A
NEFPASS Facility
Fiscal 2021		—		—		—		N/A
Fiscal 2020		30,000		100		—		N/A
Fiscal 2019		30,000		128		—		N/A
Fiscal 2018		30,000		185		—		N/A
SSLP Facility
Fiscal 2019		—		—		—		N/A
Fiscal 2018		53,785		331		—		N/A
Total Senior Securities
Fiscal 2023 (through March 31, 2023)	$	1,122,200	$	1,877		—		N/A
Fiscal 2022		1,093,200		1,915		—		N/A
Fiscal 2021		818,500		2,029		—		N/A
Fiscal 2020		677,000		2,259		—		N/A
Fiscal 2019		593,900		2,525		—		N/A
Fiscal 2018		476,185		2,930		—		N/A
Fiscal 2017		541,600		2,702		—		N/A
Fiscal 2016		390,200		3,354		—		N/A
Fiscal 2015		432,900		3,039		—		N/A
Fiscal 2014		225,000		5,162		—		N/A
Fiscal 2013		225,000		5,425		—		N/A

(1)	Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented.

(2)

The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by all senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. In order to determine the specific Asset Coverage Per Unit for each class of debt, the total Asset Coverage Per Unit is allocated based on the amount outstanding in each class of debt at the end of the period. As of March 31, 2023, asset coverage was 187.7%.

(3)	The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it.

(4)

Not applicable except for the 2042 Unsecured Notes which were publicly traded. The Average Market Value Per Unit is calculated by taking the daily average closing price during the period and dividing it by twenty-five dollars per share and multiplying the result by one thousand to determine a unit price per thousand consistent with Asset Coverage Per Unit. The average market value for the fiscal 2016, 2015, 2014 and 2013 periods was $100,175, $98,196, $94,301 and $93,392, respectively.

Senior Securities Amount

^[1]

$ 1,122,200

$ 1,093,200

$ 818,500

$ 677,000

$ 593,900

$ 476,185

$ 541,600

$ 390,200

$ 432,900

$ 225,000

Senior Securities Coverage per Unit

^[2]

$ 1,877

$ 1,915

$ 2,029

$ 2,259

$ 2,525

$ 2,930

$ 2,702

$ 3,354

$ 3,039

$ 5,162

$ 5,425

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

Senior Securities, Note [Text Block]

Senior Securities


Class and Year	Total Amount Outstanding(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit(4)
Credit Facility
Fiscal 2023 (through March 31, 2023)	$	388,000	$	649		—		N/A
Fiscal 2022		293,000		513		—		N/A
Fiscal 2021		222,500		552		—		N/A
Fiscal 2020		126,000		421		—		N/A
Fiscal 2019		42,900		182		—		N/A
Fiscal 2018		96,400		593		—		N/A
Fiscal 2017		245,600		1,225		—		N/A
Fiscal 2016		115,200		990		—		N/A
Fiscal 2015		207,900		1,459		—		N/A
Fiscal 2014		—		—		—		N/A
Fiscal 2013		—		—		—		N/A
SPV Credit Facility
Fiscal 2023 (through March 31, 2023)		164,200		275		—		N/A
Fiscal 2022		155,200		272		—		N/A
2022 Unsecured Notes
Fiscal 2022		—		—		—		N/A
Fiscal 2021		150,000		372		—		N/A
Fiscal 2020		150,000		501		—		N/A
Fiscal 2019		150,000		638		—		N/A
Fiscal 2018		150,000		923		—		N/A
Fiscal 2017		150,000		748		—		N/A
Fiscal 2016		50,000		430		—		N/A
2022 Tranche C Notes
Fiscal 2022		—		—		—		N/A
Fiscal 2021		21,000		52		—		N/A
Fiscal 2020		21,000		70		—		N/A
Fiscal 2019		21,000		89		—		N/A
Fiscal 2018		21,000		129		—		N/A
Fiscal 2017		21,000		105		—		N/A
2023 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		—		—		—		N/A
Fiscal 2022		75,000		131		—		N/A
Fiscal 2021		75,000		186		—		N/A
Fiscal 2020		75,000		250		—		N/A
Fiscal 2019		75,000		319		—		N/A
Fiscal 2018		75,000		461		—		N/A
Fiscal 2017		75,000		374		—		N/A
2024 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		125,000		209		—		N/A
Fiscal 2022		125,000		219		—		N/A
Fiscal 2021		125,000		309		—		N/A
Fiscal 2020		125,000		417		—		N/A
Fiscal 2019		125,000		531		—		N/A
2025 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		85,000		142		—		N/A
Fiscal 2022		85,000		149		—		N/A
2026 Unsecured Notes


Class and Year	Total Amount Outstanding(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit(4)
Fiscal 2023 (through March 31, 2023)		75,000		125		—		N/A
Fiscal 2022		75,000		131		—		N/A
Fiscal 2021		75,000		186		—		N/A
Fiscal 2020		75,000		250		—		N/A
Fiscal 2019		75,000		319		—		N/A
2027 Unsecured Notes
Fiscal 2023 (through March 31, 2023)		50,000		84		—		N/A
Fiscal 2022		50,000		88		—		N/A
Fiscal 2021		50,000		124		—		N/A
2027 Series F Unsecured Notes
Fiscal 2023 (through March 31, 2023)		135,000		226		—		N/A
Fiscal 2022		135,000		237		—		N/A
2042 Unsecured Notes
Fiscal 2017		—		—		—		N/A
Fiscal 2016		100,000		859		—	$	1,002
Fiscal 2015		100,000		702		—		982
Fiscal 2014		100,000		2,294		—		943
Fiscal 2013		100,000		2,411		—		934
Senior Secured Notes
Fiscal 2017		—		—		—		N/A
Fiscal 2016		75,000		645		—		N/A
Fiscal 2015		75,000		527		—		N/A
Fiscal 2014		75,000		1,721		—		N/A
Fiscal 2013		75,000		1,808		—		N/A
Term Loans
Fiscal 2023 (through March 31, 2023)		100,000		167		—		N/A
Fiscal 2022		100,000		175		—		N/A
Fiscal 2021		100,000		248		—		N/A
Fiscal 2020		75,000		250		—		N/A
Fiscal 2019		75,000		319		—		N/A
Fiscal 2018		50,000		308		—		N/A
Fiscal 2017		50,000		250		—		N/A
Fiscal 2016		50,000		430		—		N/A
Fiscal 2015		50,000		351		—		N/A
Fiscal 2014		50,000		1,147		—		N/A
Fiscal 2013		50,000		1,206		—		N/A
NEFPASS Facility
Fiscal 2021		—		—		—		N/A
Fiscal 2020		30,000		100		—		N/A
Fiscal 2019		30,000		128		—		N/A
Fiscal 2018		30,000		185		—		N/A
SSLP Facility
Fiscal 2019		—		—		—		N/A
Fiscal 2018		53,785		331		—		N/A
Total Senior Securities
Fiscal 2023 (through March 31, 2023)	$	1,122,200	$	1,877		—		N/A
Fiscal 2022		1,093,200		1,915		—		N/A
Fiscal 2021		818,500		2,029		—		N/A
Fiscal 2020		677,000		2,259		—		N/A
Fiscal 2019		593,900		2,525		—		N/A
Fiscal 2018		476,185		2,930		—		N/A
Fiscal 2017		541,600		2,702		—		N/A
Fiscal 2016		390,200		3,354		—		N/A
Fiscal 2015		432,900		3,039		—		N/A
Fiscal 2014		225,000		5,162		—		N/A
Fiscal 2013		225,000		5,425		—		N/A

(1)	Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented.

(2)

(3)	The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it.

(4)

General Description of Registrant [Abstract]

Investment Objectives and Practices [Text Block]

Portfolio and Investment Activity

During the three months ended March 31, 2023, we invested approximately $156.0 million across 40 portfolio companies. This compares to investing approximately $67.5 million in 14 portfolio companies for the three months ended March 31, 2022. Investments sold, prepaid or repaid during the three months ended March 31, 2023 totaled approximately $144.2 million versus approximately $101.0 million for the three months ended March 31, 2022.

At March 31, 2023, our portfolio consisted of 145 portfolio companies and was invested 31.9% in cash flow senior secured loans, 29.3% in asset-based senior secured loans / SLR Credit Solutions (“SLR Credit”) / SLR Healthcare ABL / SLR Business Credit, 23.3% in equipment senior secured financings / SLR Equipment Finance (“SLR Equipment”) / Kingsbridge Holdings, LLC (“KBH”) and 15.5% in life science senior secured loans, in each case, measured at fair value, versus 101 portfolio companies invested 23.2% in cash flow senior secured loans, 28.4% in asset-based senior secured loans / SLR Credit, 14.1% in KBH, 16.0% in equipment senior secured financings / SLR Equipment, and 18.3% in life science senior secured loans, in each case, measured at fair value, at March 31, 2022.

At March 31, 2023, 77.7% or $1.61 billion of our income producing investment portfolio

is floating rate and 22.3% or $460.4 million is fixed rate, measured at fair value. At March 31, 2022, 79.4% or $1.15 billion of our income producing investment portfolio

is floating rate and 20.6% or $296.9 million is fixed rate, measured at fair value. As of March 31, 2023 and 2022, we had two and two issuers, respectively, on

non-accrual

status.

*	We have included SLR Credit Solutions, SLR Equipment Finance, SLR Healthcare ABL, SLR Business Credit and Kingsbridge Holdings, LLC within our income producing investment portfolio.

Risk Factors [Table Text Block]

Item 1A. Risk Factors

In addition to the other information set forth in this report, you should carefully consider the factors discussed in “Risk Factors” in the February 28, 2023 filing of our Annual Report on

Form 10-K, which

could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results. Other than the risk factor set forth below, there have been no material changes during the period ended March 31, 2023 to the risk factors discussed in “Risk Factors” in the February 28, 2023 filing of our Annual Report on Form

10-K.

Adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties could have a material adverse effect on us, the Investment Adviser and our portfolio companies.

Cash not held in custody accounts and held by us, our Investment Adviser and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts could, at times, exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limits. If such banking institutions were to fail, we, our Investment Adviser, or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limits. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our, our Investment Adviser’s and our portfolio companies’ business, financial condition, results of operations, or prospects.

Although we and our Investment Adviser assess our and our portfolio companies’ banking and financing relationships as we believe necessary or appropriate, our and our portfolio companies’ access to funding sources and other credit arrangements in amounts adequate to finance or capitalize current and projected future business operations could be significantly impaired by factors that affect the financial institutions with which we, our Investment Adviser or our portfolio companies have arrangements directly or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets, or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we, our Investment Adviser or our portfolio companies have financial or business relationships, but could also include factors involving financial markets or the financial services industry generally.

In addition, investor concerns regarding the U.S. or international financial systems could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access to credit and liquidity sources, thereby making it more difficult for us, our Investment Adviser, or our portfolio companies to acquire financing on acceptable terms or at all.

Our stock repurchase program could affect the price of our common stock and increase volatility and may be suspended or terminated at any time, which may result in a decrease in the trading price of our common stock.

On May 9, 2023, the Board most recently extended our share repurchase program (the “Program”), under which we can repurchase up to $50 million of our outstanding common stock. Under the Program, purchases can be made at management’s discretion from time to time in open-market transactions, in accordance with all applicable securities laws and regulations, at prices below the Company’s NAV as reported in its most recently published consolidated financial statements. We have in the past, and could in the future, enter into a plan to repurchase shares of our common stock pursuant to the Program in a manner intended to comply with the requirements of Rule 10b5-1 under the Exchange Act.

The Program is discretionary and whether purchases will be made under the Program and how much will be purchased at any time is uncertain and dependent on prevailing market prices and trading volumes, all of which we cannot predict. These activities could have the effect of maintaining the market price of our common stock or retarding a decline in the market price of the common stock, and, as a result, the price of our common stock could be higher than the price that otherwise might exist in the open market. Repurchases pursuant to the Program could affect the price of our common stock and increase its volatility. The existence of the Program could also cause the price of our common stock to be higher than it would be in the absence of such a program and could potentially reduce the market liquidity for our common stock. There can be no assurance that any stock repurchases will enhance stockholder value because the market price of our common stock could decline below the levels at which we repurchased such shares. Any failure to repurchase shares after we have announced our intention to do so could negatively impact our reputation and investor confidence in us and could negatively impact our stock price. Although the Program is intended to enhance long-term stockholder value, short-term stock price fluctuations could reduce the Program’s effectiveness.

Credit Facility

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 388,000

$ 293,000

$ 222,500

$ 126,000

$ 42,900

$ 96,400

$ 245,600

$ 115,200

$ 207,900

$ 0

Senior Securities Coverage per Unit

^[2]

$ 649

$ 513

$ 552

$ 421

$ 182

$ 593

$ 1,225

$ 990

$ 1,459

$ 0

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

SPV Credit Facility

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 164,200

$ 155,200

Senior Securities Coverage per Unit

^[2]

$ 275

$ 272

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2022 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 150,000

$ 50,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 372

$ 501

$ 638

$ 923

$ 748

$ 430

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2022 Tranche C Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 21,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 52

$ 70

$ 89

$ 129

$ 105

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2023 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 75,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 131

$ 186

$ 250

$ 319

$ 461

$ 374

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2024 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 125,000

Senior Securities Coverage per Unit

^[2]

$ 209

$ 219

$ 309

$ 417

$ 531

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2025 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 85,000

Senior Securities Coverage per Unit

^[2]

$ 142

$ 149

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2026 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 75,000

Senior Securities Coverage per Unit

^[2]

$ 125

$ 131

$ 186

$ 250

$ 319

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2027 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 50,000

Senior Securities Coverage per Unit

^[2]

$ 84

$ 88

$ 124

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2027 Series F Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 135,000

Senior Securities Coverage per Unit

^[2]

$ 226

$ 237

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

2042 Unsecured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 100,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 859

$ 702

$ 2,294

$ 2,411

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

Senior Secured Notes

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 75,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 645

$ 527

$ 1,721

$ 1,808

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

Term Loans

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 100,000

$ 75,000

$ 50,000

Senior Securities Coverage per Unit

^[2]

$ 167

$ 175

$ 248

$ 250

$ 319

$ 308

$ 250

$ 430

$ 351

$ 1,147

$ 1,206

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

NEFPASS Facility

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 30,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 100

$ 128

$ 185

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

SSLP Facility

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 53,785

Senior Securities Coverage per Unit

^[2]

$ 0

$ 331

Senior Securities Involuntary Liquidating Preference per Unit

^[3]

$ 0

[1]	Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented.
[2]	The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by all senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. In order to determine the specific Asset Coverage Per Unit for each class of debt, the total Asset Coverage Per Unit is allocated based on the amount outstanding in each class of debt at the end of the period. As of March 31, 2023, asset coverage was 187.7%.
[3]	The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it.

Commitments and Contingencies - Summary of Unfunded Debt and Equity Commitments (Details) - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

Other Commitments [Line Items]

Other Commitment

$ 336,319

$ 323,663

Unfunded Debt and Equity Commitments [Member]

Other Commitments [Line Items]

Other Commitment

336,319

323,663

Unfunded Debt and Equity Commitments [Member] | SLR Credit Solutions [Member]

Other Commitments [Line Items]

Other Commitment

^[1]

44,263

Unfunded Debt and Equity Commitments [Member] | Outset Medical, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

35,084

Unfunded Debt and Equity Commitments [Member] | Apeel Technology, Inc [Member]

Other Commitments [Line Items]

Other Commitment

32,786

Unfunded Debt and Equity Commitments [Member] | CC SAG Holdings Corp. (Spectrum Automotive) [Member]

Other Commitments [Line Items]

Other Commitment

20,670

Unfunded Debt and Equity Commitments [Member] | Human Interest, Inc [Member]

Other Commitments [Line Items]

Other Commitment

20,104

Unfunded Debt and Equity Commitments [Member] | Glooko, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

17,868

Unfunded Debt and Equity Commitments [Member] | World Insurance Associates, LLC [Member]

Other Commitments [Line Items]

Other Commitment

9,190

17,117

Unfunded Debt and Equity Commitments [Member] | iCIMS, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

10,360

11,435

Unfunded Debt and Equity Commitments [Member] | Spectrum Pharmaceuticals, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

8,771

Unfunded Debt and Equity Commitments [Member] | Arcutis Biotherapeutics, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

8,356

Unfunded Debt and Equity Commitments [Member] | Atria Wealth Solutions, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

8,215

Unfunded Debt and Equity Commitments [Member] | Ardelyx, Inc [Member]

Other Commitments [Line Items]

Other Commitment

7,752

Unfunded Debt and Equity Commitments [Member] | Luxury Asset Capital, LLC [Member]

Other Commitments [Line Items]

Other Commitment

7,500

Unfunded Debt and Equity Commitments [Member] | Cerapedics, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

6,735

Unfunded Debt and Equity Commitments [Member] | RSC Acquisition, Inc [Member]

Other Commitments [Line Items]

Other Commitment

5,002

7,498

Unfunded Debt and Equity Commitments [Member] | Maurices, Incorporated [Member]

Other Commitments [Line Items]

Other Commitment

2,745

4,314

Unfunded Debt and Equity Commitments [Member] | Kaseya, Inc [Member]

Other Commitments [Line Items]

Other Commitment

3,807

3,936

Unfunded Debt and Equity Commitments [Member] | Vessco Midco Holdings, LLC [Member]

Other Commitments [Line Items]

Other Commitment

3,455

3,892

Unfunded Debt and Equity Commitments [Member] | Copper River Seafoods, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

7,857

3,595

Unfunded Debt and Equity Commitments [Member] | BDG Media, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

10,224

3,546

Unfunded Debt and Equity Commitments [Member] | Meditrina, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

3,367

Unfunded Debt and Equity Commitments [Member] | One Touch Direct, LLC [Member]

Other Commitments [Line Items]

Other Commitment

3,185

3,069

Unfunded Debt and Equity Commitments [Member] | DeepIntent, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

3,118

3,049

Unfunded Debt and Equity Commitments [Member] | Foundation Consumer Brands, LLC [Member]

Other Commitments [Line Items]

Other Commitment

3,009

Unfunded Debt and Equity Commitments [Member] | SCP Eye Care, LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,388

2,771

Unfunded Debt and Equity Commitments [Member] | Basic Fun, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

2,687

2,675

Unfunded Debt and Equity Commitments [Member] | Kid Distro Holdings, LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,650

Unfunded Debt and Equity Commitments [Member] | Plastics Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,424

Unfunded Debt and Equity Commitments [Member] | Southern Orthodontic Partners Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,586

1,918

Unfunded Debt and Equity Commitments [Member] | Pediatric Home Respiratory Services, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,805

Unfunded Debt and Equity Commitments [Member] | Pinnacle Treatment Centers, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

960

1,745

Unfunded Debt and Equity Commitments [Member] | Ultimate Baked Goods Midco LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,224

1,636

Unfunded Debt and Equity Commitments [Member] | Orthopedic Care Partners Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

971

1,620

Unfunded Debt and Equity Commitments [Member] | Ivy Fertility Services, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,571

Unfunded Debt and Equity Commitments [Member] | Composite Technology Acquisition Corp [Member]

Other Commitments [Line Items]

Other Commitment

970

1,537

Unfunded Debt and Equity Commitments [Member] | NAC Holdings Corporation [Member]

Other Commitments [Line Items]

Other Commitment

1,479

Unfunded Debt and Equity Commitments [Member] | SLR Healthcare ABL [Member]

Other Commitments [Line Items]

Other Commitment

1,400

Unfunded Debt and Equity Commitments [Member] | SPAR Marketing Force, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

2,551

1,338

Unfunded Debt and Equity Commitments [Member] | RxSense Holdings LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,250

Unfunded Debt and Equity Commitments [Member] | Erie Construction Mid-west, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,248

Unfunded Debt and Equity Commitments [Member] | Peter C. Foy & Associates Insurance Services, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,094

Unfunded Debt and Equity Commitments [Member] | American Teleconferencing Services, Ltd. [Member]

Other Commitments [Line Items]

Other Commitment

1,137

1,090

Unfunded Debt and Equity Commitments [Member] | Enverus Holdings, Inc [Member]

Other Commitments [Line Items]

Other Commitment

1,004

Unfunded Debt and Equity Commitments [Member] | Montefiore Nyack Hospital [Member]

Other Commitments [Line Items]

Other Commitment

1,400

1,034

Unfunded Debt and Equity Commitments [Member] | SunMed Group Holdings, LLC [Member]

Other Commitments [Line Items]

Other Commitment

908

843

Unfunded Debt and Equity Commitments [Member] | SLR Equipment Finance [Member]

Other Commitments [Line Items]

Other Commitment

3,500

1,000

Unfunded Debt and Equity Commitments [Member] | GSM Acquisition Corp [Member]

Other Commitments [Line Items]

Other Commitment

862

784

Unfunded Debt and Equity Commitments [Member] | Tilley Distribution, Inc [Member]

Other Commitments [Line Items]

Other Commitment

635

525

Unfunded Debt and Equity Commitments [Member] | BayMark Health Services, Inc [Member]

Other Commitments [Line Items]

Other Commitment

391

Unfunded Debt and Equity Commitments [Member] | High Street Buyer, Inc [Member]

Other Commitments [Line Items]

Other Commitment

327

Unfunded Debt and Equity Commitments [Member] | ENS Holdings III Corp, LLC [Member]

Other Commitments [Line Items]

Other Commitment

317

144

Unfunded Debt and Equity Commitments [Member] | All State Ag Parts, LLC

Other Commitments [Line Items]

Other Commitment

135

Unfunded Debt and Equity Commitments [Member] | TAUC Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

294

Unfunded Debt and Equity Commitments [Member] | ONS MSO, LLC [Member]

Other Commitments [Line Items]

Other Commitment

10,961

Unfunded Debt and Equity Commitments [Member] | United Digestive MSO Parent, LLC [Member]

Other Commitments [Line Items]

Other Commitment

5,259

Unfunded Debt and Equity Commitments [Member] | Urology Management Holdings, Inc [Member]

Other Commitments [Line Items]

Other Commitment

$ 3,596

$ 0

[1]	The Company controls the funding of the SLR Credit Solutions and SLR Healthcare ABL commitments and may cancel them at its discretion.

Debt - Schedule of Long-term Debt Instruments (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Credit Facility
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	$ 4,453	$ 4,746
SPV Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	833	898
2022 Tranche C Notes
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs		21
2023 Unsecured Notes
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	509	579
2024 Unsecured Notes
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	346	387
2025 Unsecured Notes
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	473	502
2026 Unsecured Notes
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	44	47
2027 Unsecured Notes
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	$ 20	$ 22

SLR Credit Solutions	3 Months Ended
SLR Credit Solutions	Mar. 31, 2023
Line of Credit Facility [Abstract]
SLR Credit Solutions	Note 9. S L R Credit Solutions On December 28, 2012, we acquired an equity interest in Crystal Capital Financial Holdings LLC (“Crystal Financial”) for $275,000 in cash. Crystal Financial owned approximately 98% of the outstanding ownership interest in SLR Credit Solutions (“SLR Credit”), f/k/a Crystal Financial LLC. The remaining financial interest was held by various employees of SLR Credit, through their investment in Crystal Management LP. SLR Credit had a diversified portfolio of 23 loans having a total par value of approximately $400,000 at November 30, 2012 and a $275,000 committed revolving credit facility. On July 28, 2016, the Company purchased Crystal Management LP’s approximately 2% equity interest in SLR Credit for approximately $5,737. Upon the closing of this transaction, the Company holds 100% of the equity interest in SLR Credit. On September 30, 2016, Crystal Capital Financial Holdings LLC was dissolved. As of March 31, 2023, total commitments to the revolving credit facility are $300,000. As of March 31, 2023 SLR Credit had 28 funded commitments to 24 different issuers with total funded loans of approximately $423,163 on total assets of $435,275. As of December 31, 2022 SLR Credit had 29 funded commitments to 25 different issuers with total funded loans of approximately $439,484 on total assets of $460,683. As of March 31, 2023 and December 31, 2022, the largest loan outstanding totaled $37,232 and $33,420, respectively. For the same periods, the average exposure per issuer was $17,632 and $17,579, respectively. SLR Credit’s credit facility, which is non-recourse to the Company, had approximately $207,837 and $224,325 of borrowings outstanding at March 31, 2023 and December 31, 2022, respectively. For the three months ended March 31, 2023 and 2022, SLR Credit had net income (loss) of ($9,672) and $2,780, respectively, on gross income of $14,555 and $6,694, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions.

Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Percentage of excise tax	4.00%
Maximum [Member]
Property, Plant and Equipment [Line Items]
Debt instrument term	60 days
Restricted investment term	90 days
Minimum [Member]
Property, Plant and Equipment [Line Items]
Debt instrument term	60 days
Restricted investment term	30 days

Stock Repurchase Program	3 Months Ended
Stock Repurchase Program	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Stock Repurchase Program	Note 16. Stock Repurchase Program On May 3, 2022, our Board authorized a program for the purpose of repurchasing up to $50,000 of our outstanding shares of common stock. Under the repurchase program, we may, but are not obligated to, repurchase shares of our outstanding common stock in the open market from time to time provided that we comply with our code of ethics and the guidelines specified in Rule 10b-18 of the 1934 Act, including certain price, market volume and timing constraints. In addition, any repurchases will be conducted in accordance with the 1940 Act. Unless amended or extended by our Board, we expect the repurchase program to be in place until the earlier of May 1, 2023 or until $ 50,000 of our outstanding shares of common stock have been repurchased. The timing and number of shares to be repurchased will depend on a number of factors, including market conditions. There are no assurances that we will engage in any repurchases beyond what is reported herein. For the three months ended March 31, 2023, the Company repurchased 746 shares at an average price of approximately $14.02 per share, inclusive of commissions. The total dollar amount of shares repurchased for the three months ended March 31, 2023 was $10. During the fiscal year ended December 31, 2022, the Company repurchased 217,271 shares at an average price of approximately $13.98 per share, inclusive of commissions. The total dollar amount of shares repurchased for the fiscal year ended December 31, 2022 was $3,038.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Subparagraph (SX 210.3-04)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 18
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value - Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3) (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
SLRCTerm Loan And Credit Facility Member
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	$ 488,000	$ 393,000
SPV Credit Facility
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	164,200	155,200
2023 Unsecured Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure		75,000
2024 Unsecured Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	118,750	118,750
2025 Unsecured Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	79,688	79,688
2026 Unsecured Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	67,875	68,250
2027 Unsecured Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	42,750	42,875
2027 Series F Unsecured Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	$ 117,788	$ 118,125