0001193125-24-134205 | 10-Q | XBRL Viewer

Consolidated Statements of Assets And Liabilities (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Cash equivalents at cost	$ 292,869	$ 332,290
Debt instrument, face amount	1,162,250	1,183,250
Debt issuance costs	$ 4,927	$ 5,473
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	54,554,634
Common stock, shares, outstanding	54,554,634	54,554,634
Companies less than 5% owned [Member]
Investment owned, at cost	$ 1,229,225	$ 1,260,205
Companies 5% to 25% owned [Member]
Investment owned, at cost	60,891	60,064
Companies more than 25% owned [Member]
Investment owned, at cost	$ 875,569	$ 870,128

Significant Accounting Policies

3 Months Ended

Mar. 31, 2024

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, 2024.

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

days, for which market quotations are readily available and deemed to represent fair value under 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

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 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, 2024, 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

% 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

days or more (

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 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 ($) loans	Mar. 31, 2024 USD ($) issuers fund	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) issuers fund
Number of issuers in business credit \| issuers				99		102
Assets				$ 2,468,463		$ 2,523,868
Net income (loss)				27,871	$ 6,824
Non-recourse debt				1,157,323		1,177,777
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				$ 30,000		$ 30,000
Business combination, consideration transferred	$ 5,737
Number of funded commitments \| fund				29		31
Number of issuers in business credit \| issuers				25		26
Long-term line of credit				$ 394,934		$ 406,554
Assets				432,852		438,422
Line of credit facility average outstanding amount				15,797		15,637
Net income (loss)				5,719	9,672
Gross income				13,056	$ 14,555
Non-recourse debt				207,494		$ 218,878
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%

Debt

3 Months Ended

Mar. 31, 2024

Debt Instruments [Abstract]

Debt

Note 7. Debt

Our debt obligations consisted of the following as of March 31, 2024 and December 31, 2023:


	March 31, 2024					December 31, 2023
Facility	Face Amount		Carrying Value			Face Amount		Carrying Value
Credit Facility	$	486,000	$	482,662	(1)	$	507,000	$	503,358	(1)
SPV Credit Facility		206,250		205,446	(2)		206,250		205,357	(2)
2024 Unsecured Notes		125,000		124,785	(3)		125,000		124,711	(3)
2025 Unsecured Notes		85,000		84,824	(4)		85,000		84,781	(4)
2026 Unsecured Notes		75,000		74,647	(5)		75,000		74,616	(5)
2027 Unsecured Notes		50,000		49,969	(6)		50,000		49,966	(6)
2027 Series F Unsecured Notes		135,000		134,990	(7)		135,000		134,988	(7)

	$	1,162,250	$	1,157,323		$	1,183,250	$	1,177,777

(1)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $3,338 and $3,642 as of March 31, 2024 and December 31, 2023, respectively.

(2)	Carrying Value equals the Face Amount net of unamortized market discount of $804 and $893 as of March 31, 2024 and December 31, 2023, respectively.

(3)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $215 and $289 as of March 31, 2024 and December 31, 2023, respectively.

(4)	Carrying Value equals the Face Amount net of unamortized market discount of $176 and $219 as of March 31, 2024 and December 31, 2023, respectively.

(5)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $353 and $384 as of March 31, 2024 and December 31, 2023, respectively.

(6)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $31 and $34 as of March 31, 2024 and December 31, 2023, respectively.

(7)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $10 and $12 as of March 31, 2024 and December 31, 2023, 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.

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, subsequent to an August 29, 2023 amendment, the commitment under the SPV Credit Facility is $275,000; however, the commitment can also be expanded up to $600,000. The stated interest rate on the SPV Credit Facility is SOFR plus

2.00%-2.50%

with no SOFR 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, 2024, outstanding USD equivalent borrowings under the SPV Credit Facility totaled $206,250.

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, a $25,000 November 2022 upsizing and a $40,000 August 2023 commitment expiration, the Credit Facility is now composed of $585,000 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

% floor, 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, require the Company to maintain a minimum stockholder’s equity and a minimum asset coverage ratio. At March 31, 2024, outstanding USD equivalent borrowings under the Credit Facility totaled $486,000, composed of $386,000 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, 2024 and the year ended December 31, 2023 was 6.05% and 5.88%, 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 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, 2024 and the year ended December 31, 2023 were $1,183,250 and $1,273,200, 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Stock Repurchase Program - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	May 09, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stock repurchase program, authorized amount	$ 50,000
Stock repurchase program expiration date	May 10, 2024
Stock Repurchased During Period, Shares		0	746	746
Shares Issued, Price Per Share				$ 14.02
Stock Repurchased During Period, Value		$ 0	$ 10	$ 10

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Commitments and Contingencies - Summary of Unfunded Debt and Equity Commitments (Details) - USD ($)
$ in Thousands

Mar. 31, 2024

Dec. 31, 2023

Oct. 12, 2022

Other Commitments [Line Items]

Other Commitment

$ 226,921

$ 248,692

Unfunded Debt and Equity Commitments [Member]

Other Commitments [Line Items]

Other Commitment

226,921

248,692

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] | Orthopedic Care Partners Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

6,656

20,770

Unfunded Debt and Equity Commitments [Member] | Southern Orthodontic Partners Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

12,887

17,861

Unfunded Debt and Equity Commitments [Member] | Ardelyx, Inc [Member]

Other Commitments [Line Items]

Other Commitment

15,875

Unfunded Debt and Equity Commitments [Member] | CVAUSA Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

10,164

Unfunded Debt and Equity Commitments [Member] | BDG Media, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

14,476

10,146

Unfunded Debt and Equity Commitments [Member] | iCIMS, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

10,020

9,858

Unfunded Debt and Equity Commitments [Member] | Retina Midco, Inc [Member]

Other Commitments [Line Items]

Other Commitment

6,882

9,382

Unfunded Debt and Equity Commitments [Member] | Alkeme Intermediary Holdings, LLC [Member]

Other Commitments [Line Items]

Other Commitment

7,312

8,531

Unfunded Debt and Equity Commitments [Member] | SPAR Marketing Force, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

7,934

8,339

Unfunded Debt and Equity Commitments [Member] | Copper River Seafoods, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

9,457

7,051

Unfunded Debt and Equity Commitments [Member] | SLR Senior Lending Program LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,125

^[1]

7,125

^[1]

$ 100,000

Unfunded Debt and Equity Commitments [Member] | Legacy Service Partners, LLC [Member]

Other Commitments [Line Items]

Other Commitment

5,368

Unfunded Debt and Equity Commitments [Member] | Peter C. Foy & Associates Insurance Services, LLC [Member]

Other Commitments [Line Items]

Other Commitment

5,062

Unfunded Debt and Equity Commitments [Member] | West-NR Parent, Inc [Member]

Other Commitments [Line Items]

Other Commitment

5,043

Unfunded Debt and Equity Commitments [Member] | Luxury Asset Capital, LLC [Member]

Other Commitments [Line Items]

Other Commitment

4,500

Unfunded Debt and Equity Commitments [Member] | One Touch Direct, LLC [Member]

Other Commitments [Line Items]

Other Commitment

6,703

4,085

Unfunded Debt and Equity Commitments [Member] | DeepIntent, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

6,885

3,933

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] | United Digestive MSO Parent, LLC [Member]

Other Commitments [Line Items]

Other Commitment

3,545

3,909

Unfunded Debt and Equity Commitments [Member] | Kaseya, Inc [Member]

Other Commitments [Line Items]

Other Commitment

1,919

3,768

Unfunded Debt and Equity Commitments [Member] | The Townsend Company, LLC [Member]

Other Commitments [Line Items]

Other Commitment

3,368

3,330

Unfunded Debt and Equity Commitments [Member] | Vertos Medical, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

3,325

Unfunded Debt and Equity Commitments [Member] | AMF Levered II, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,589

3,177

Unfunded Debt and Equity Commitments [Member] | UVP Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

809

2,869

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] | Erie Construction Mid-west, LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,403

Unfunded Debt and Equity Commitments [Member] | Ultimate Baked Goods Midco LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,356

Unfunded Debt and Equity Commitments [Member] | Basic Fun, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

2,150

Unfunded Debt and Equity Commitments [Member] | SLR Equipment Finance [Member]

Other Commitments [Line Items]

Other Commitment

^[1]

2,150

Unfunded Debt and Equity Commitments [Member] | Bayside Opco, LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,093

Unfunded Debt and Equity Commitments [Member] | SunMed Group Holdings, LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,621

Unfunded Debt and Equity Commitments [Member] | Urology Management Holdings, Inc [Member]

Other Commitments [Line Items]

Other Commitment

1,510

Unfunded Debt and Equity Commitments [Member] | SLR Healthcare ABL [Member]

Other Commitments [Line Items]

Other Commitment

^[1]

1,400

Unfunded Debt and Equity Commitments [Member] | RxSense Holdings LLC [Member]

Other Commitments [Line Items]

Other Commitment

1,250

Unfunded Debt and Equity Commitments [Member] | Tilley Distribution, Inc [Member]

Other Commitments [Line Items]

Other Commitment

1,158

Unfunded Debt and Equity Commitments [Member] | GSM Acquisition Corp [Member]

Other Commitments [Line Items]

Other Commitment

862

Unfunded Debt and Equity Commitments [Member] | SCP Eye Care, LLC [Member]

Other Commitments [Line Items]

Other Commitment

983

Unfunded Debt and Equity Commitments [Member] | Medrina, LLC [Member]

Other Commitments [Line Items]

Other Commitment

826

Unfunded Debt and Equity Commitments [Member] | Pinnacle Treatment Centers, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

643

Unfunded Debt and Equity Commitments [Member] | High Street Buyer, Inc [Member]

Other Commitments [Line Items]

Other Commitment

631

Unfunded Debt and Equity Commitments [Member] | ENS Holdings III Corp, LLC [Member]

Other Commitments [Line Items]

Other Commitment

345

576

Unfunded Debt and Equity Commitments [Member] | CC SAG Holdings Corp. (Spectrum Automotive) [Member]

Other Commitments [Line Items]

Other Commitment

548

Unfunded Debt and Equity Commitments [Member] | Crewline Buyer, Inc [Member]

Other Commitments [Line Items]

Other Commitment

530

Unfunded Debt and Equity Commitments [Member] | Exactcare Parent, Inc [Member]

Other Commitments [Line Items]

Other Commitment

352

Unfunded Debt and Equity Commitments [Member] | All States Ag Parts, LLC [Member]

Other Commitments [Line Items]

Other Commitment

218

321

Unfunded Debt and Equity Commitments [Member] | WCIBXC Purchaser LLC [Member]

Other Commitments [Line Items]

Other Commitment

332

Unfunded Debt and Equity Commitments [Member] | Vessco Midco Holdings, LLC [Member]

Other Commitments [Line Items]

Other Commitment

317

310

Unfunded Debt and Equity Commitments [Member] | TAUC Management, LLC [Member]

Other Commitments [Line Items]

Other Commitment

294

Unfunded Debt and Equity Commitments [Member] | Vapotherm, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

689

Unfunded Debt and Equity Commitments [Member] | Western Veterinary Partners LLC [Member]

Other Commitments [Line Items]

Other Commitment

9,833

Unfunded Debt and Equity Commitments [Member] | SPR Therapeutics, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

6,083

Unfunded Debt and Equity Commitments [Member] | 33 Across Inc. [Member] Across Inc. [Member]

Other Commitments [Line Items]

Other Commitment

4,741

Unfunded Debt and Equity Commitments [Member] | Brainjolt LLC [Member]

Other Commitments [Line Items]

Other Commitment

2,205

Unfunded Debt and Equity Commitments [Member] | Sightly Enterprises, Inc. [Member]

Other Commitments [Line Items]

Other Commitment

$ 1,475

$ 0

[1]	The Company controls the funding of these commitments and may cancel them at its discretion.

SLR Equipment Finance - Additional Information (Details) $ in Thousands			3 Months Ended
	Jan. 31, 2024	Aug. 24, 2023 USD ($)	Mar. 31, 2024 USD ($) fund Customers	Mar. 31, 2023 USD ($)	Mar. 01, 2024 USD ($)	Dec. 31, 2023 USD ($) fund Customers	Jul. 31, 2017 USD ($)
Schedule of Equity Method Investments [Line Items]
Non-recourse debt			$ 1,157,323			$ 1,177,777
Net income			$ 27,871	$ 6,824
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		$ 150,000			$ 350,000		$ 225,000
Number of funded equipment-backed leases and loans \| fund			174			150
Number of Customers \| Customers			79			62
Net investment in lease			$ 212,564			$ 203,674
Assets under lease			265,015			254,656
Equipment backed leases and loans largest position outstanding			17,883			17,943
Equipment backed leases and loans average exposure per customer			2,691			3,285
Non-recourse debt			156,977			$ 137,178
Net income			1,956	1,038
Gross income			$ 4,170	$ 6,337
Line of credit facility, expiration date	Jan. 31, 2027	Mar. 31, 2026

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Condensed Financial Statements, Captions [Line Items]

Total assets

$ 2,468,463

$ 2,523,868

Debt outstanding ($124,520 and $106,900 face amounts, respectively, reported net of unamortized debt issuance costs of $1,914 and $1,697, respectively)

1,157,323

1,177,777

Total liabilities

1,476,320

1,537,229

Interest and other credit facility expenses

18,188

$ 15,286

Other general and administrative expenses

895

1,501

Total expenses

34,293

31,510

Net investment income

23,852

22,147

Realized gain on investments

135

687

Net change in unrealized gain on investments

3,884

(16,010)

Net realized and unrealized gain on investments

4,019

(15,323)

Net income

27,871

6,824

SLR Senior Lending Program LLC [Member]

Condensed Financial Statements, Captions [Line Items]

Investments at fair value (cost $215,226 and $186,059, respectively)

^[1]

216,931

187,255

Cash and other assets

8,202

8,613

Total assets

225,133

195,868

Debt outstanding ($124,520 and $106,900 face amounts, respectively, reported net of unamortized debt issuance costs of $1,914 and $1,697, respectively)

122,606

105,203

Distributions payable

2,875

1,900

Interest payable and other credit facility related expenses

579

551

Accrued expenses and other payables

559

416

Total liabilities

126,619

108,070

Members' equity

98,514

87,798

Total liabilities and members' equity

225,133

$ 195,868

Interest income

5,969

1,009

Service fees

^[2]

125

Interest and other credit facility expenses

2,718

805

Other general and administrative expenses

Total expenses

2,887

862

Net investment income

3,082

147

Realized gain on investments

Net change in unrealized gain on investments

509

Net realized and unrealized gain on investments

509

Net income

$ 3,591

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

Stock Repurchase Program	3 Months Ended
Stock Repurchase Program	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Stock Repurchase Program	Note 16. Stock Repurchase Program 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 Securities Exchange Act of 1934, as amended (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 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. 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 beyond what is reported herein. There were no share repurchases during the three months ended March 31, 2024. For the fiscal year ended December 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 fiscal year ended December 31, 2023 was $10.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Kingsbridge Holdings, LLC - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Nov. 03, 2020	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2021	Dec. 31, 2023
Total assets		$ 2,468,463			$ 2,523,868
Non-recourse debt		1,157,323			1,177,777
Net income (loss)		$ 27,871	$ 6,824
KBHT [Member]
Percentage of equity interest acquired from the management team		3.125%
Total assets		$ 848,189			857,346
KBHT [Member] \| Management [Member]
Equity Ownership, Excluding Consolidated Entity and Equity Method Investee, Percentage		9.375%
Kingsbridge Holdings, LLC [Member]
Equity method investments	$ 216,596
Payments to acquire investments	136,596
Proceeds from unsecured borrowings	$ 80,000
Recourse debt		$ 252,153			249,807
Non-recourse debt		358,881			$ 367,082
Net income (loss)		1,928		$ 2,627
Gross income		$ 80,008	$ 68,007
Nonconsolidated Investees, Other [Member] \| KBHT [Member]
Equity method investment, ownership percentage	12.50%	90.625%
Maximum [Member] \| Kingsbridge Holdings, LLC [Member]
Equity method investment, ownership percentage	87.50%

Capital Share Transactions (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Transactions in capital stock were as follows:


	Shares					Amount
	For the three months ended March 31, 2024		For the three months ended March 31, 2023			For the three months ended March 31, 2024		For the three months ended March 31, 2023
Shares repurchased		—		(746	)	$	—	$	(10	)

Fair Value (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

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, 2024 and December 31, 2023:

Fair Value Measurements

As of March 31, 2024


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,263,015	$	—	$	1,263,015
Equipment Financing		—		—		239,339		—		239,339
Preferred Equity		—		—		2,500		—		2,500
Common Equity/Equity Interests/Warrants		261		—		579,566		49,257		629,084

Total Investments	$	261	$	—	$	2,084,420	$	49,257	$	2,133,938

Fair Value Measurements

As of December 31, 2023


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,277,539	$	—	$	1,277,539
Equipment Financing		—		—		256,819		—		256,819
Preferred Equity		—		—		3,801		—		3,801
Common Equity/Equity Interests/Warrants		281		—		572,427		43,899		616,607

Total Investments	$	281	$	—	$	2,110,586	$	43,899	$	2,154,766

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, 2024, 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, 2024:

Fair Value Measurements Using Level 3 Inputs


	Senior Secured Loans			Equipment Financing			Preferred Equity			Common Equity/ Equity Interests/ Warrants		Total
Fair value, December 31, 2023	$	1,277,539		$	256,819		$	3,801		$	572,427	$	2,110,586
Total gains or losses included in earnings:
Net realized gain		224			—			—			—		224
Net change in unrealized gain (loss)		3,446			(1,340	)		(1,364	)		2,805		3,547
Purchase of investment securities*		95,985			38			63			4,334		100,420
Proceeds from dispositions of investment securities		(114,179	)		(16,178	)		—			—		(130,357	)
Transfers in/out of Level 3		—			—			—			—		—

Fair value, March 31, 2024	$	1,263,015		$	239,339		$	2,500		$	579,566	$	2,084,420

Unrealized gains (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)	$	3,446		$	(1,340	)	$	(1,364	)	$	2,805	$	3,547

*	Includes PIK capitalization and accretion of discount.

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, 2024, 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 $486,000, $206,250, $123,125, $82,875, $71,063, $45,375 and $124,200,

respectively. All debt obligations would be considered Level 3 liabilities and would be valued with market yield as the unobservable input.

The following table provides a summary of the changes in fair value of Level 3 assets for the year ended December 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 December 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 loss		(26,108	)		—			—			(451	)		(26,559	)
Net change in unrealized gain (loss)		36,436			234			(251	)		(24,985	)		11,434
Purchase of investment securities*		729,964			35,585			251			36,314			802,114
Proceeds from dispositions of investment securities		(708,167	)		(44,952	)		—			(51	)		(753,170	)
Transfers in/out of Level 3		—			—			—			—			—

Fair value, December 31, 2023	$	1,277,539		$	256,819		$	3,801		$	572,427		$	2,110,586

Unrealized gains (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)	$	31,484		$	234		$	(251	)	$	(24,985	)	$	6,482

*	Includes PIK capitalization and accretion of discount

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, 2024 is summarized in the table below:

Asset or

Liability

Fair Value at

March 31, 2024

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,250,329

Income Approach

Market Yield

10.0% – 20.7% (13.1%)

12,686

Recovery Analysis

Recoverable Amount

N/A

Equipment Financing

Asset

120,089

Income Approach

Market Yield

9.4% –9.4% (9.4%)

119,250

Market Multiple

(1)

Comparable Multiple

1.2x-1.5x

(1.5x)

Preferred Equity

Asset

2,500

Income Approach

Market Yield

5.0% –5.0% (5.0%)

Common Equity/Equity Interests/Warrants

Asset

167,096

Market Multiple

(2)

Comparable Multiple

5.5x –11.3x (8.7x)

412,470

Market Approach

Return on Equity

7.1% –24.9% (10.5%)

(1)	Includes $119,250 of investments valued using an implied multiple.

(2)	Includes $341 of investments valued using a Black-Scholes model and $166,755 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, 2023 is summarized in the table below:

Asset or

Liability

Fair Value at

December 31, 2023

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,269,712

Income Approach

Market Yield

10.0% – 45.5% (13.2%)

7,827

Recovery Analysis

Recoverable Amount

N/A

Equipment Financing

Asset

135,999

Income Approach

Market Yield

8.5% –9.3% (9.3%)

120,820

Market Multiple

(1)

Comparable Multiple

1.2x-1.5x

(1.4x)

Preferred Equity

Asset

3,801

Income Approach

Market Yield

5.0% –5.0% (5.0%)

Common Equity/Equity Interests/Warrants

Asset

162,207

Market Multiple

(2)

Comparable Multiple

5.5x –11.3x (9.5x)

410,220

Market Approach

Return on Equity

7.1% –34.8% (10.6%)

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

(2)	Includes $525 of investments valued using a Black-Scholes model and $161,682 of investments valued using an EBITDA multiple.

Agreements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Agreement [Line Items]
Management fees	$ 7,882	$ 7,706
Administrative fees expense	1,376	1,508
Performance Based Incentive Fees Waiver	$ 46	110
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	$ 7,882	7,706
Performance based incentive fees	5,952	5,509
Administrative fees expense	$ 1,376	$ 1,508
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%

Fair Value

3 Months Ended

Mar. 31, 2024

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, 2024 and December 31, 2023:

Fair Value Measurements

As of March 31, 2024


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,263,015	$	—	$	1,263,015
Equipment Financing		—		—		239,339		—		239,339
Preferred Equity		—		—		2,500		—		2,500
Common Equity/Equity Interests/Warrants		261		—		579,566		49,257		629,084

Total Investments	$	261	$	—	$	2,084,420	$	49,257	$	2,133,938

Fair Value Measurements

As of December 31, 2023


	Level 1		Level 2		Level 3		Measured at Net Asset Value*		Total
Assets:
Senior Secured Loans	$	—	$	—	$	1,277,539	$	—	$	1,277,539
Equipment Financing		—		—		256,819		—		256,819
Preferred Equity		—		—		3,801		—		3,801
Common Equity/Equity Interests/Warrants		281		—		572,427		43,899		616,607

Total Investments	$	281	$	—	$	2,110,586	$	43,899	$	2,154,766

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, 2023	$	1,277,539		$	256,819		$	3,801		$	572,427	$	2,110,586
Total gains or losses included in earnings:
Net realized gain		224			—			—			—		224
Net change in unrealized gain (loss)		3,446			(1,340	)		(1,364	)		2,805		3,547
Purchase of investment securities*		95,985			38			63			4,334		100,420
Proceeds from dispositions of investment securities		(114,179	)		(16,178	)		—			—		(130,357	)
Transfers in/out of Level 3		—			—			—			—		—

Fair value, March 31, 2024	$	1,263,015		$	239,339		$	2,500		$	579,566	$	2,084,420

Unrealized gains (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)	$	3,446		$	(1,340	)	$	(1,364	)	$	2,805	$	3,547

*	Includes PIK capitalization and accretion of discount.

respectively. All debt obligations would be considered Level 3 liabilities and would be valued with market yield as the unobservable input.

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 loss		(26,108	)		—			—			(451	)		(26,559	)
Net change in unrealized gain (loss)		36,436			234			(251	)		(24,985	)		11,434
Purchase of investment securities*		729,964			35,585			251			36,314			802,114
Proceeds from dispositions of investment securities		(708,167	)		(44,952	)		—			(51	)		(753,170	)
Transfers in/out of Level 3		—			—			—			—			—

Fair value, December 31, 2023	$	1,277,539		$	256,819		$	3,801		$	572,427		$	2,110,586

Unrealized gains (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)	$	31,484		$	234		$	(251	)	$	(24,985	)	$	6,482

*	Includes PIK capitalization and accretion of discount

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 December 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 $507,000, $206,250, $122,813, $82,663, $71,438, $45,500 and $124,875, 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, 2024 is summarized in the table below:

Asset or

Liability

Fair Value at

March 31, 2024

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,250,329

Income Approach

Market Yield

10.0% – 20.7% (13.1%)

12,686

Recovery Analysis

Recoverable Amount

N/A

Equipment Financing

Asset

120,089

Income Approach

Market Yield

9.4% –9.4% (9.4%)

119,250

Market Multiple

(1)

Comparable Multiple

1.2x-1.5x

(1.5x)

Preferred Equity

Asset

2,500

Income Approach

Market Yield

5.0% –5.0% (5.0%)

Common Equity/Equity Interests/Warrants

Asset

167,096

Market Multiple

(2)

Comparable Multiple

5.5x –11.3x (8.7x)

412,470

Market Approach

Return on Equity

7.1% –24.9% (10.5%)

(1)	Includes $119,250 of investments valued using an implied multiple.

(2)	Includes $341 of investments valued using a Black-Scholes model and $166,755 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, 2023 is summarized in the table below:

Asset or

Liability

Fair Value at

December 31, 2023

Principal Valuation

Technique/Methodology

Unobservable Input

Range (Weighted

Average)

Senior Secured Loans

Asset

1,269,712

Income Approach

Market Yield

10.0% – 45.5% (13.2%)

7,827

Recovery Analysis

Recoverable Amount

N/A

Equipment Financing

Asset

135,999

Income Approach

Market Yield

8.5% –9.3% (9.3%)

120,820

Market Multiple

(1)

Comparable Multiple

1.2x-1.5x

(1.4x)

Preferred Equity

Asset

3,801

Income Approach

Market Yield

5.0% –5.0% (5.0%)

Common Equity/Equity Interests/Warrants

Asset

162,207

Market Multiple

(2)

Comparable Multiple

5.5x –11.3x (9.5x)

410,220

Market Approach

Return on Equity

7.1% –34.8% (10.6%)

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

(2)	Includes $525 of investments valued using a Black-Scholes model and $161,682 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

SLR Senior Lending Program LLC - Summary financial information for SSLP (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Debt instrument, face amount	$ 1,162,250	$ 1,183,250
Debt issuance costs	4,927	5,473
SLR Senior Lending Program LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Cost	215,226	$ 186,059
Debt instrument, face amount	124,520		$ 106,900
Debt issuance costs	$ 1,914		$ 1,697

- Definition

Cost of the investment.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
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-Paragraph 1
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+ Details

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
INVESTMENT INCOME:
Total investment income	$ 58,099	$ 53,547
EXPENSES:
Management fees (see note 3)	7,882	7,706
Performance-based incentive fees (see note 3)	5,952	5,509
Interest and other credit facility expenses (see note 7)	18,188	15,286
Administrative services expense (see note 3)	1,376	1,508
Other general and administrative expenses	895	1,501
Total expenses	34,293	31,510
Performance-based incentive fees waived (see note 3)	(46)	(110)
Net expenses	34,247	31,400
Net investment income	23,852	22,147
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS:
Net realized gain on investments and cash equivalents (companies less than 5% owned)	135	687
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	3,884	(16,010)
Net realized and unrealized gain (loss) on investments and cash equivalents	4,019	(15,323)
Net increase in net assets resulting from operations	$ 27,871	$ 6,824
EARNINGS PER SHARE (see note 5), Basic	$ 0.51	$ 0.13
EARNINGS PER SHARE (see note 5), Diluted	$ 0.51	$ 0.13
Companies less than 5% owned [Member]
INVESTMENT INCOME:
Interest	$ 41,004	$ 37,338
Other income	574	2,322
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS:
Net realized gain on investments and cash equivalents (companies less than 5% owned)	135	687
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	3,484	(14,271)
Companies 5% to 25% owned [Member]
INVESTMENT INCOME:
Interest	831	0
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	1	0
Companies more than 25% owned [Member]
INVESTMENT INCOME:
Interest	3,338	2,711
Dividends	12,227	11,176
Other income	125	0
Net change in unrealized gain (loss) on investments and cash equivalents:
Net change in unrealized gain (loss) on investments and cash equivalents	$ 399	$ (1,739)

Net Asset Value Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Net Asset Value Per Share [Abstract]
Net assets	$ 992,143	$ 986,639	$ 984,178	$ 999,731
Net asset value per share	$ 18.19	$ 18.09	$ 18.04	$ 18.33

- Definition

Net asset value per share or per unit of investments in certain entities that calculate net asset value per share. Includes, but is not limited to, by unit, membership interest, or other ownership interest. Investment includes, but is not limited to, investment in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Excludes fair value disclosure.

+ References

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+ Details

Financial Highlights - Schedule of Financial Highlights (Parentheticals) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Investment Company, Financial Highlights [Abstract]
Fair value of common stock per share	$ 15.35	$ 15.04	$ 15.03	$ 13.91
Investment company, expense ratio excluding incentive fee	3.47%	3.15%
Investment Company Operating Expense Ratio Excluding Incentive Fee	1.63%	1.62%

Agreements	3 Months Ended
Agreements	Mar. 31, 2024
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. On April 1, 2022, in connection with the consummation of the Mergers, we entered into a letter agreement (the “Letter Agreement”) pursuant to which the Investment Adviser voluntarily agreed to a permanent 25 basis point reduction of the annual base management fee rate payable by us to the Investment Adviser pursuant to the Advisory Agreement. Following the Letter Agreement, the base management fee is now 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 (as defined below), 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, 2024 and 2023. For the three months ended March 31, 2024 and 2023, the Company recognized $7,882 and $7,706, respectively, in base management fees and $5,952 and $5,509, respectively, in performance-based incentive fees. For the three months ended March 31, 2024 and 2023, $46 and $110, 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 (“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, 2024 and 2023, the Company recognized expenses under the Administration Agreement of $1,376 and $1,508 respectively. No managerial assistance fees were accrued or collected for the three months ended March 31, 2024 and 2023.

SLR Senior Lending Program LLC (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

SSLP Portfolio

As of March 31, 2024 and December 31, 2023, SSLP had total assets of $225,133 and $195,868, respectively. For the same periods, SSLP’s portfolio consisted of floating rate senior secured loans to 39 and 32 different borrowers, respectively. For the three months ended March 31, 2024, SSLP invested $29,758 in 11 portfolio companies. Investments prepaid totaled $771 for the three months ended March 31, 2024. For the three months ended March 31, 2023, SSLP invested $29,829 in

portfolio companies. Investments prepaid totaled $3,215 for the three months ended March 31, 2023.

SSLP Portfolio as of March 31, 2024


Description	Industry	Spread Above Index (1)		Floor			Interest Rate (2)			Maturity Date		Par Amount		Cost		Fair Value (3)
Accession Risk Management Group, Inc.	Insurance		S+550		0.75	%		10.95	%		11/1/29	$	6,940	$	6,915	$	6,940
Aegis Toxicology Sciences Corporation (4)	Health Care Providers & Services		S+550		1.00	%		11.08	%		5/9/25		2,934		2,934		2,934
Alkeme Intermediary Holdings, LLC (4)	Insurance		S+625		1.00	%		11.68	%		10/28/26		3,446		3,356		3,446
All States Ag Parts, LLC (4)	Trading Companies & Distributors		S+600		1.00	%		11.57	%		9/1/26		2,127		2,127		2,127
Apex Service Partners, LLC	Diversified Consumer Services		S+700		1.00	%		11.81	%		10/24/30		5,409		5,280		5,409
Atria Wealth Solutions, Inc. (4)	Diversified Financial Services		S+650		1.00	%		12.07	%		5/31/24		2,462		2,462		2,462
BayMark Health Services, Inc. (4)	Health Care Providers & Services		S+500		1.00	%		10.57	%		6/11/27		4,023		4,023		4,023
CC SAG Holdings Corp. (4)	Diversified Consumer Services		S+575		0.75	%		11.19	%		6/29/28		8,946		8,946		8,946
CVAUSA Management, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.74	%		5/22/29		5,398		5,243		5,398
ENS Holdings III Corp. & ES Opco USA LLC (4)	Trading Companies & Distributors		S+475		1.00	%		10.15	%		12/31/25		1,083		1,083		1,083
Erie Construction Mid-west, LLC	Building Products		S+475		1.00	%		10.15	%		7/30/27		8,343		8,343		8,343
Exactcare Parent, Inc.	Health Care Providers & Services		S+650		1.00	%		11.77	%		11/5/29		3,228		3,140		3,228
Fertility (ITC) Investment Holdco, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.78	%		1/3/29		5,940		5,783		5,940
Foundation Consumer Brands, LLC (4)	Personal Products		S+625		1.00	%		11.73	%		2/12/27		8,606		8,606		8,606
GSM Acquisition Corp. (4)	Leisure Equipment & Products		S+500		1.00	%		10.44	%		11/16/26		8,519		8,519		8,519
Higginbotham Insurance Agency, Inc. (4)	Insurance		S+550		1.00	%		10.93	%		11/25/28		7,554		7,554		7,554
High Street Buyer, Inc.	Insurance		S+525		0.75	%		10.56	%		4/16/28		7,585		7,585		7,585
iCIMS, Inc. (4)	Software		S+725		0.75	%		12.58	%		8/18/28		3,120		3,077		3,120
Kaseya, Inc. (4)	Software		S+600		0.75	%		11.31	%		6/23/29		9,115		9,115		9,115
Kid Distro Holdings, LLC (4)	Software		S+550		1.00	%		10.96	%		10/1/27		8,916		8,916		8,916
Legacy Service Partners, LLC	Diversified Consumer Services		S+575		1.00	%		11.21	%		1/9/29		1,372		1,338		1,372
Maxor Acquisition, Inc. (4)	Health Care Providers & Services		S+675		1.00	%		12.29	%		3/1/29		6,104		5,931		6,104
Medrina, LLC	Health Care Providers & Services		S+625		1.00	%		11.74	%		10/20/29		2,404		2,345		2,380
ONS MSO, LLC (4)	Health Care Providers & Services		S+625		1.00	%		11.56	%		7/8/26		5,900		5,761		5,900
Pinnacle Treatment Centers, Inc. (4)	Health Care Providers & Services		S+650		1.00	%		11.99	%		1/2/26		6,933		6,933		6,933
Plastics Management, LLC (4)	Health Care Providers & Services		S+500		1.00	%		10.41	%		8/18/27		5,623		5,466		5,623
Retina Midco, Inc. (4)	Health Care Providers & Services		S+575		1.00	%		11.33	%		1/31/26		7,481		7,334		7,332
RQM+ Corp. (4)	Life Sciences Tools & Services		S+575		1.00	%		11.31	%		8/12/26		5,939		5,939		5,910
RxSense Holdings LLC (4)	Diversified Consumer Services		S+500		1.00	%		10.41	%		3/13/26		8,945		8,945		8,945
SunMed Group Holdings, LLC (4)	Health Care Equipment & Supplies		S+550		0.75	%		10.91	%		6/16/28		8,925		8,925		8,925
The Townsend Company, LLC (4)	Commercial Services & Supplies		S+625		1.00	%		11.58	%		8/15/29		3,620		3,536		3,620
Tilley Distribution, Inc. (4)	Trading Companies & Distributors		S+600		1.00	%		11.45	%		12/31/26		5,721		5,721		5,721
Ultimate Baked Goods Midco LLC (4)	Packaged Foods & Meats		S+625		1.00	%		11.68	%		8/13/27		8,931		8,931		8,931
United Digestive MSO Parent, LLC (4)	Health Care Providers & Services		S+675		1.00	%		12.07	%		3/30/29		3,529		3,428		3,529
Urology Management Holdings, Inc. (4)	Health Care Providers & Services		S+625		1.00	%		11.66	%		6/15/26		3,171		3,101		3,171
UVP Management, LLC (4)	Health Care Providers & Services		S+625		1.00	%		11.71	%		9/15/25		4,895		4,786		4,846
Vessco Midco Holdings, LLC (4)	Water Utilities		S+450		1.00	%		9.75	%		11/2/26		4,293		4,293		4,293
WCI-BXC Purchaser, LLC	Distributors		S+625		1.00	%		11.54	%		11/6/30		2,897		2,826		2,897
West-NR Parent, Inc. (4)	Insurance		S+625		1.00	%		11.65	%		12/27/27		6,805		6,680		6,805

														$	215,226	$	216,931

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

(2)	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 2024.

(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, 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		S+550		1.00	%		11.13	%		5/9/25	$	2,947	$	2,947	$	2,947
Alkeme Intermediary Holdings, LLC (4)	Insurance		S+650		1.00	%		11.96	%		10/28/26		3,017		2,934		3,017
All States Ag Parts, LLC (4)	Trading Companies & Distributors		S+600		1.00	%		11.61	%		9/1/26		2,133		2,133		2,133
Apex Service Partners, LLC	Diversified Consumer Services		S+700		1.00	%		11.87	%		10/24/30		4,905		4,784		4,783
Atria Wealth Solutions, Inc. (4)	Diversified Financial Services		S+650		1.00	%		11.97	%		5/31/24		2,468		2,468		2,468
BayMark Health Services, Inc. (4)	Health Care Providers & Services		S+500		1.00	%		10.61	%		6/11/27		4,033		4,033		4,033
CC SAG Holdings Corp. (4)	Diversified Consumer Services		S+575		0.75	%		11.22	%		6/29/28		8,969		8,969		8,969
CVAUSA Management, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.74	%		5/22/29		5,412		5,251		5,412
ENS Holdings III Corp. & ES Opco USA LLC (4)	Trading Companies & Distributors		S+475		1.00	%		10.20	%		12/31/25		1,086		1,086		1,086
Erie Construction Mid-west, LLC	Building Products		S+475		1.00	%		10.20	%		7/30/27		8,457		8,457		8,457
Fertility (ITC) Investment Holdco, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.97	%		1/3/29		5,955		5,791		5,955
Foundation Consumer Brands, LLC (4)	Personal Products		S+625		1.00	%		11.79	%		2/12/27		8,641		8,641		8,641
GSM Acquisition Corp. (4)	Leisure Equipment & Products		S+500		1.00	%		10.47	%		11/16/26		8,541		8,541		8,541
Higginbotham Insurance Agency, Inc. (4)	Insurance		S+550		1.00	%		10.96	%		11/25/28		7,573		7,573		7,573
High Street Buyer, Inc.	Insurance		S+575		0.75	%		11.25	%		4/16/28		7,604		7,604		7,604
iCIMS, Inc. (4)	Software		S+725		0.75	%		12.62	%		8/18/28		3,089		3,066		3,089
Kaseya, Inc. (4)	Software		S+600		0.75	%		11.38	%		6/23/29		9,058		9,058		9,058
Kid Distro Holdings, LLC (4)	Software		S+550		1.00	%		11.00	%		10/1/27		8,939		8,939		8,939
Maxor Acquisition, Inc. (4)	Health Care Providers & Services		S+675		1.00	%		12.48	%		3/1/29		6,120		5,940		6,120
ONS MSO, LLC (4)	Health Care Providers & Services		S+625		1.00	%		11.62	%		7/8/26		5,922		5,784		5,922
Pinnacle Treatment Centers, Inc. (4)	Health Care Providers & Services		S+650		1.00	%		11.95	%		1/2/26		6,951		6,951		6,951
Plastics Management, LLC (4)	Health Care Providers & Services		S+500		1.00	%		10.45	%		8/18/27		5,637		5,471		5,637
RQM+ Corp. (4)	Life Sciences Tools & Services		S+575		1.00	%		11.36	%		8/12/26		5,955		5,955		5,955
RxSense Holdings LLC (4)	Diversified Consumer Services		S+500		1.00	%		10.48	%		3/13/26		8,968		8,968		8,968
SunMed Group Holdings, LLC (4)	Health Care Equipment & Supplies		S+550		0.75	%		10.96	%		6/16/28		8,948		8,948		8,948
The Townsend Company, LLC (4)	Commercial Services & Supplies		S+625		1.00	%		11.61	%		8/15/29		3,642		3,555		3,642
Tilley Distribution, Inc. (4)	Trading Companies & Distributors		S+600		1.00	%		11.50	%		12/31/26		5,850		5,850		5,850
Ultimate Baked Goods Midco LLC (4)	Packaged Foods & Meats		S+625		1.00	%		11.71	%		8/13/27		8,954		8,954		8,865
United Digestive MSO Parent, LLC (4)	Health Care Providers & Services		S+675		1.00	%		12.25	%		3/30/29		3,411		3,311		3,411
Urology Management Holdings, Inc. (4)	Health Care Providers & Services		S+650		1.00	%		11.93	%		6/15/26		3,179		3,102		3,155
Vessco Midco Holdings, LLC (4)	Water Utilities		S+450		1.00	%		9.96	%		11/2/26		4,304		4,304		4,304
West-NR Parent, Inc. (4)	Insurance		S+625		1.00	%		11.70	%		12/27/27		6,822		6,691		6,822

														$	186,059	$	187,255

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

(2)	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 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.

Summary financial information for SSLP

Below is certain summarized financial information for SSLP as of

March 31, 2024

and

December 31, 2023

and for the three months ended March 31, 2024 and March 31, 2023:


	March 31, 2024		December 31, 2023
Selected Balance Sheet Information for SSLP:
Investments at fair value (cost $215,226 and $186,059, respectively)	$	216,931	$	187,255
Cash and other assets		8,202		8,613

Total assets	$	225,133	$	195,868

Debt outstanding ($124,520 and $106,900 face amounts, respectively, reported net of unamortized debt issuance costs of $1,914 and $1,697, respectively)	$	122,606	$	105,203
Distributions payable		2,875		1,900
Interest payable and other credit facility related expenses		579		551
Accrued expenses and other payables		559		416

Total liabilities	$	126,619	$	108,070

Members’ equity	$	98,514	$	87,798

Total liabilities and members’ equity	$	225,133	$	195,868


	For the three months ended March 31, 2024		For the three months ended March 31, 2023
Selected Income Statement Information for SSLP:
Interest income	$	5,969	$	1,009

Service fees*		125		19
Interest and other credit facility expenses		2,718		805
Other general and administrative expenses		44		38

Total expenses		2,887		862

Net investment income	$	3,082	$	147

Realized gain on investments		—		30
Net change in unrealized gain on investments		509		40

Net realized and unrealized gain on investments	$	509	$	70

Net income	$	3,591	$	217

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

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

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Investment, Identifier [Axis]: Accession Risk Management Group, Inc. | Insurance | S+550 | 0.75% | 10.95 | % | 11/1/29

Schedule of Investments [Line Items]

Spread Above Index

^[1]

550.00%

Interest Rate

^[2]

10.95%

Cost

$ 6,915

Fair Value

^[3]

$ 6,940

Investment, Identifier [Axis]: Aegis Toxicology Sciences Corporation | Health Care Providers and Services | S+550 | 1.00% | 11.13% | 5/9/25

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

550.00%

Interest Rate

^[4]

11.08%

^[2]

11.13%

^[5]

Cost

^[4]

$ 2,934

$ 2,947

Fair Value

^[3],[4]

$ 2,934

$ 2,947

Investment, Identifier [Axis]: Alkeme Intermediary Holdings, LLC | Insurance| S+650 | 1.00% | 11.96% | 10/28/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

650.00%

Interest Rate

^[4]

11.68%

^[2]

11.96%

^[5]

Cost

^[4]

$ 3,356

$ 2,934

Fair Value

^[3],[4]

$ 3,446

$ 3,017

Investment, Identifier [Axis]: All States Ag Parts, LLC | Trading Companies and Distributors| S+600 | 1.00% | 11.61% | 9/1/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

600.00%

Interest Rate

^[4]

11.57%

^[2]

11.61%

^[5]

Cost

^[4]

$ 2,127

$ 2,133

Fair Value

^[3],[4]

$ 2,127

$ 2,133

Investment, Identifier [Axis]: Apex Service Partners, LLC | Diversified Consumer Services | S+700 | 1.00% | 11.87% |10/24/30

Schedule of Investments [Line Items]

Spread Above Index

^[1]

700.00%

^[4],[6]

Interest Rate

11.81%

^[2]

11.87%

^[4],[5]

Cost

$ 5,280

$ 4,784

^[4]

Fair Value

^[3]

$ 5,409

$ 4,783

^[4]

Investment, Identifier [Axis]: Atria Wealth Solutions, Inc | Diversified Financial Services | S+650 | 1.00% | 11.97% | 5/31/24

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

650.00%

Interest Rate

^[4]

12.07%

^[2]

11.97%

^[5]

Cost

^[4]

$ 2,462

$ 2,468

Fair Value

^[3],[4]

$ 2,462

$ 2,468

Investment, Identifier [Axis]: BayMark Health Services, Inc | Health Care Providers and Services | S+500 | 1.00% | 10.61% | 6/11/27

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

500.00%

Interest Rate

^[4]

10.57%

^[2]

10.61%

^[5]

Cost

^[4]

$ 4,023

$ 4,033

Fair Value

^[3],[4]

$ 4,023

$ 4,033

Investment, Identifier [Axis]: CC SAG Holdings Corp | Diversified Consumer Services | S+575 | 0.75% | 11.22% | 6/29/28

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

575.00%

Interest Rate

^[4]

11.19%

^[2]

11.22%

^[5]

Cost

^[4]

$ 8,946

$ 8,969

Fair Value

^[3],[4]

$ 8,946

$ 8,969

Investment, Identifier [Axis]: CVAUSA Management, LLC | Health Care Providers and Services | S+650 | 1.00% | 11.74% | 5/22/29

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

650.00%

Interest Rate

^[4]

11.74%

^[2]

11.74%

^[5]

Cost

^[4]

$ 5,243

$ 5,251

Fair Value

^[3],[4]

5,398

5,412

Investment, Identifier [Axis]: Cash Equivalents - 29.5% | Liabilities in Excess of Other Assets - (144.6%)

Schedule of Investments [Line Items]

Fair Value

(1,434,664)

Investment, Identifier [Axis]: Cash Equivalents - 29.5% | Net Assets - 100.0%

Schedule of Investments [Line Items]

Fair Value

992,143

Investment, Identifier [Axis]: Cash Equivalents - 29.5% | Total Investments & Cash Equivalents - 244.6%

Schedule of Investments [Line Items]

Cost

2,458,554

Fair Value

$ 2,426,807

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | Liabilities in Excess of Other Assets - (150.5%)

Schedule of Investments [Line Items]

Fair Value

(1,500,417)

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | Net Assets - 100.0%

Schedule of Investments [Line Items]

Fair Value

986,639

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | Total Investments & Cash Equivalents - 250.5%

Schedule of Investments [Line Items]

Cost

2,522,687

Fair Value

$ 2,487,056

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | U.S. Treasury Bill | Government | 12/29/2023 | 2/27/2024

Schedule of Investments [Line Items]

Government

Dec. 29, 2023

Feb. 27, 2024

$ 335,000

332,290

$ 332,290

Investment, Identifier [Axis]: Cash Equivalents -29.5% | U.S. Treasury Bill | Government | 3/28/2024 |5/21/2024

Schedule of Investments [Line Items]

Government

Mar. 28, 2024

May 21, 2024

$ 295,000

292,869

$ 292,869

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Assertio Holdings, Inc. | Pharmaceuticals | 7/31/2023

Schedule of Investments [Line Items]

Industry

^[7],[8]

Pharmaceuticals

Acquisition Date

^[7],[8]

Jul. 31, 2023

Cost

^[7],[8]

$ 51

Fair Value

^[7],[8]

$ 13

Shares/Units

^[7],[8]

12,510

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Bayside Parent, LLC | Health Care Providers&Services | 5/31/2023

Schedule of Investments [Line Items]

Industry

^[8],[9]

Health Care Providers & Services

Acquisition Date

^[8],[9]

May 31, 2023

Cost

^[8],[9]

$ 11,411

Fair Value

^[8],[9]

$ 3,815

Shares/Units

^[8],[9]

6,526

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | CardioFocus, Inc. Warrants | Health Care Equipment&Supplies | 3/31/2017

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Mar. 31, 2017

Cost

^[8]

$ 51

Fair Value

^[8]

$ 0

Shares/Units

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Centrexion Therapeutics, Inc. Warrants | Pharmaceuticals | 6/28/2019

Schedule of Investments [Line Items]

Industry

^[8]

Pharmaceuticals

Acquisition Date

^[8]

Jun. 28, 2019

Cost

^[8]

$ 136

Fair Value

^[8]

$ 45

Shares/Units

^[8]

289,102

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Conventus Orthopaedics, Inc. Warrants | Health Care Equipment&Supplies | 6/15/2016

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Jun. 15, 2016

Cost

^[8]

$ 65

Fair Value

^[8]

$ 0

Shares/Units

^[8]

157,500

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Delphinus Medical Technologies, Inc. Warrants | Health Care Equipment&Supplies | 8/18/2017

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Aug. 18, 2017

Cost

^[8]

$ 74

Fair Value

^[8]

$ 80

Shares/Units

^[8]

444,388

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Essence Group Holdings Corporation (Lumeris) Warrants | Health Care Technology | 3/22/2017

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Technology

Acquisition Date

^[8]

Mar. 22, 2017

Cost

^[8]

$ 129

Fair Value

^[8]

$ 327

Shares/Units

^[8]

260,000

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | KBH Topco LLC (Kingsbridge). | Multi-Sector Holdings | 11/3/2020

Schedule of Investments [Line Items]

Industry

^{[10],[11],[12]}

Multi-Sector Holdings

Acquisition Date

^{[10],[11],[12]}

Nov. 03, 2020

Cost

^{[10],[11],[12]}

$ 136,596

Fair Value

^{[10],[11],[12]}

$ 142,000

Shares/Units

^{[10],[11],[12]}

73,500,000

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Meditrina, Inc. Warrants | Health Care Equipment&Supplies | 12/20/2022

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Dec. 20, 2022

Cost

^[8]

$ 23

Fair Value

^[8]

$ 19

Shares/Units

^[8]

29,366

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | NSPC Holdings, LLC (National Spine) | Health Care Providers&Services | 2/13/2023

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Providers & Services

Acquisition Date

^[8]

Feb. 13, 2023

Cost

^[8]

$ 657

Fair Value

^[8]

$ 0

Shares/Units

^[8]

207,043

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | RD Holdco, Inc. (Rug Doctor) ClassB | Diversified Consumer Services | 12/23/2013

Schedule of Investments [Line Items]

Industry

^[8],[10]

Diversified Consumer Services

Acquisition Date

^[8],[10]

Dec. 23, 2013

Cost

^[8],[10]

$ 5,216

Fair Value

^[8],[10]

$ 0

Shares/Units

^[8],[10]

522

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | RD Holdco, Inc. (Rug Doctor) | Diversified Consumer Services | 12/23/2013

Schedule of Investments [Line Items]

Industry

^[8],[10]

Diversified Consumer Services

Acquisition Date

^[8],[10]

Dec. 23, 2013

Cost

^[8],[10]

$ 15,683

Fair Value

^[8],[10]

$ 0

Shares/Units

^[8],[10]

231,177

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Business Credit | Diversified Financial Services |4/1/2022

Schedule of Investments [Line Items]

Industry

^{[10],[13],[14]}

Diversified Financial Services

Acquisition Date

^{[10],[13],[14]}

Apr. 01, 2022

Cost

^{[10],[13],[14]}

$ 81,583

Fair Value

^{[10],[13],[14]}

$ 90,370

Shares/Units

^{[10],[13],[14]}

100

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Credit Solutions | Diversified Financial Services | 12/28/2012

Schedule of Investments [Line Items]

Industry

^{[10],[13],[15]}

Diversified Financial Services

Acquisition Date

^{[10],[13],[15]}

Dec. 28, 2012

Cost

^{[10],[13],[15]}

$ 280,737

Fair Value

^{[10],[13],[15]}

$ 284,000

Shares/Units

^{[10],[13],[15]}

280,303

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Healthcare ABL |Diversified Financial Services | 4/1/2022

Schedule of Investments [Line Items]

Industry

^{[10],[13],[16]}

Diversified Financial Services

Acquisition Date

^{[10],[13],[16]}

Apr. 01, 2022

Cost

^{[10],[13],[16]}

$ 34,335

Fair Value

^{[10],[13],[16]}

$ 35,850

Shares/Units

^{[10],[13],[16]}

32,839

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Senior Lending Program LLC | Asset Management | 12/1/2022

Schedule of Investments [Line Items]

Industry

^{[10],[13],[17]}

Asset Management

Acquisition Date

^{[10],[13],[17]}

Dec. 01, 2022

Cost

^{[10],[13],[17]}

$ 42,875

Fair Value

^{[10],[13],[17]}

$ 43,899

Shares/Units

^{[10],[13],[17]}

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR-AMI Topco Blocker, LLC | Internet &Catalog Retail | 6/16/2023

Schedule of Investments [Line Items]

Industry

^[8],[9],[18]

Internet & Catalog Retail

Acquisition Date

^[8],[9],[18]

Jun. 16, 2023

Cost

^[8],[9],[18]

$ 24,085

Fair Value

^[8],[9],[18]

$ 15,867

Shares/Units

^[8],[9],[18]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Senseonics Holdings, Inc. | Health Care Equipment&Supplies | 7/25/2019

Schedule of Investments [Line Items]

Industry

^[7],[8],[13]

Health Care Equipment & Supplies

Acquisition Date

^[7],[8],[13]

Jul. 25, 2019

Cost

^[7],[8],[13]

$ 235

Fair Value

^[7],[8],[13]

$ 268

Shares/Units

^[7],[8],[13]

469,353

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Total Common Equity/Equity Interests/Warrants

Schedule of Investments [Line Items]

Cost

$ 634,500

Fair Value

616,607

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Total Investments - 218.4%

Schedule of Investments [Line Items]

Cost

^[19]

2,190,397

Fair Value

^[19]

$ 2,154,766

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Vapotherm, Inc. Warrants | Health Care Equipment & Supplies | 2/18/2022

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Feb. 18, 2022

Cost

^[8]

$ 319

Fair Value

^[8]

$ 3

Shares/Units

^[8]

78,287

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Venus Concept Ltd. Warrants (f/k/a Restoration Robotics) | Health Care Equipment&Supplies | 05/10/2018

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

May 10, 2018

Cost

^[8]

$ 152

Fair Value

^[8]

$ 0

Shares/Units

^[8]

2,230

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Vertos Medical, Inc. Warrants | Health Care Equipment & Supplies | 6/14/2023

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Jun. 14, 2023

Cost

^[8]

$ 51

Fair Value

^[8]

$ 51

Shares/Units

^[8]

161,761

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | aTyr Pharma, Inc. Warrants | Pharmaceuticals | 11/18/2016

Schedule of Investments [Line Items]

Industry

^[8]

Pharmaceuticals

Acquisition Date

^[8]

Nov. 18, 2016

Cost

^[8]

$ 36

Fair Value

^[8]

$ 0

Shares/Units

^[8]

2,932

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Assertio Holdings, Inc. | Pharmaceuticals | 7/31/2023

Schedule of Investments [Line Items]

Industry

^[7],[8]

Pharmaceuticals

Acquisition Date

^[7],[8]

Jul. 31, 2023

Cost

^[7],[8]

$ 51

Fair Value

^[7],[8]

$ 12

Shares/Units

^[7],[8]

12,510

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Bayside Parent, LLC | Health Care Providers&Services | 5/31/2023

Schedule of Investments [Line Items]

Industry

^[8],[20]

Health Care Providers & Services

Acquisition Date

^[8],[20]

May 31, 2023

Cost

^[8],[20]

$ 11,411

Fair Value

^[8],[20]

$ 3,816

Shares/Units

^[8],[20]

6,526

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | CardioFocus, Inc. Warrants | Health Care Equipment&Supplies | 3/31/2017

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Mar. 31, 2017

Cost

^[8]

$ 51

Fair Value

^[8]

$ 0

Shares/Units

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Centrexion Therapeutics, Inc. Warrants | Pharmaceuticals | 6/28/2019

Schedule of Investments [Line Items]

Industry

^[8]

Pharmaceuticals

Acquisition Date

^[8]

Jun. 28, 2019

Cost

^[8]

$ 136

Fair Value

^[8]

$ 38

Shares/Units

^[8]

289,102

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Conventus Orthopaedics, Inc. Warrants | Health Care Equipment&Supplies | 6/15/2016

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Jun. 15, 2016

Cost

^[8]

$ 65

Fair Value

^[8]

$ 0

Shares/Units

^[8]

157,500

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Delphinus Medical Technologies, Inc. Warrants | Health Care Equipment&Supplies | 8/18/2017

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Aug. 18, 2017

Cost

^[8]

$ 74

Fair Value

^[8]

$ 77

Shares/Units

^[8]

444,388

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Essence Group Holdings Corporation (Lumeris) Warrants | Health Care Technology | 3/22/2017

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Technology

Acquisition Date

^[8]

Mar. 22, 2017

Cost

^[8]

$ 129

Fair Value

^[8]

$ 133

Shares/Units

^[8]

260,000

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | KBH Topco LLC (Kingsbridge). | Multi-Sector Holdings | 11/3/2020

Schedule of Investments [Line Items]

Industry

^{[11],[12],[21]}

Multi-Sector Holdings

Acquisition Date

^{[11],[12],[21]}

Nov. 03, 2020

Cost

^{[11],[12],[21]}

$ 140,920

Fair Value

^{[11],[12],[21]}

$ 147,072

Shares/Units

^{[11],[12],[21]}

76,125,000

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Meditrina, Inc. Warrants | Health Care Equipment&Supplies | 12/20/2022

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Dec. 20, 2022

Cost

^[8]

$ 23

Fair Value

^[8]

$ 18

Shares/Units

^[8]

29,366

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | NSPC Holdings, LLC (National Spine) | Health Care Providers&Services | 2/13/2023

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Providers & Services

Acquisition Date

^[8]

Feb. 13, 2023

Cost

^[8]

$ 657

Fair Value

^[8]

$ 0

Shares/Units

^[8]

207,043

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | RD Holdco, Inc. (Rug Doctor) ClassB | Diversified Consumer Services | 12/23/2013

Schedule of Investments [Line Items]

Industry

^[8],[21]

Diversified Consumer Services

Acquisition Date

^[8],[21]

Dec. 23, 2013

Cost

^[8],[21]

$ 5,216

Fair Value

^[8],[21]

$ 0

Shares/Units

^[8],[21]

522

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | RD Holdco, Inc. (Rug Doctor) | Diversified Consumer Services | 12/23/2013

Schedule of Investments [Line Items]

Industry

^[8],[21]

Diversified Consumer Services

Acquisition Date

^[8],[21]

Dec. 23, 2013

Cost

^[8],[21]

$ 15,683

Fair Value

^[8],[21]

$ 0

Shares/Units

^[8],[21]

231,177

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Business Credit | Diversified Financial Services | 4/1/2022

Schedule of Investments [Line Items]

Industry

^{[14],[21],[22]}

Diversified Financial Services

Acquisition Date

^{[14],[21],[22]}

Apr. 01, 2022

Cost

^{[14],[21],[22]}

$ 81,583

Fair Value

^{[14],[21],[22]}

$ 90,370

Shares/Units

^{[14],[21],[22]}

100

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Credit Solutions | Diversified Financial Services | 12/28/2012

Schedule of Investments [Line Items]

Industry

^{[15],[21],[22]}

Diversified Financial Services

Acquisition Date

^{[15],[21],[22]}

Dec. 28, 2012

Cost

^{[15],[21],[22]}

$ 280,737

Fair Value

^{[15],[21],[22]}

$ 285,250

Shares/Units

^{[15],[21],[22]}

280,303

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Healthcare ABL | Diversified Financial Services | 4/1/2022

Schedule of Investments [Line Items]

Industry

^{[16],[21],[22]}

Diversified Financial Services

Acquisition Date

^{[16],[21],[22]}

Apr. 01, 2022

Cost

^{[16],[21],[22]}

$ 34,335

Fair Value

^{[16],[21],[22]}

$ 36,850

Shares/Units

^{[16],[21],[22]}

32,839

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Senior Lending Program LLC | Asset Management | 12/1/2022

Schedule of Investments [Line Items]

Industry

^{[17],[21],[22]}

Asset Management

Acquisition Date

^{[17],[21],[22]}

Dec. 01, 2022

Cost

^{[17],[21],[22]}

$ 47,875

Fair Value

^{[17],[21],[22]}

$ 49,257

Shares/Units

^{[17],[21],[22]}

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR-AMI Topco Blocker, LLC | Internet &Catalog Retail | 6/16/2023

Schedule of Investments [Line Items]

Industry

^{[8],[18],[20]}

Internet & Catalog Retail

Acquisition Date

^{[8],[18],[20]}

Jun. 16, 2023

Cost

^{[8],[18],[20]}

$ 24,085

Fair Value

^{[8],[18],[20]}

$ 15,867

Shares/Units

^{[8],[18],[20]}

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Senseonics Holdings, Inc. | Health Care Equipment&Supplies | 7/25/2019

Schedule of Investments [Line Items]

Industry

^[7],[8],[22]

Health Care Equipment & Supplies

Acquisition Date

^[7],[8],[22]

Jul. 25, 2019

Cost

^[7],[8],[22]

$ 235

Fair Value

^[7],[8],[22]

$ 249

Shares/Units

^[7],[8],[22]

469,353

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Total Common Equity/Equity Interests/Warrants

Schedule of Investments [Line Items]

Cost

$ 643,834

Fair Value

629,084

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Total Investments - 215.1%

Schedule of Investments [Line Items]

Cost

^[23]

2,165,685

Fair Value

^[23]

$ 2,133,938

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Vapotherm, Inc. Warrants| Health Care Equipment & Supplies | 2/18/2022

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Feb. 18, 2022

Cost

^[8]

$ 329

Fair Value

^[8]

$ 25

Shares/Units

^[8]

105,557

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Venus Concept Ltd. Warrants (f/k/a Restoration Robotics)| Health Care Equipment & Supplies | 5/10/2018

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

May 10, 2018

Cost

^[8]

$ 152

Fair Value

^[8]

$ 0

Shares/Units

^[8]

2,230

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Vertos Medical, Inc. Warrants| Health Care Equipment & Supplies | 6/14/2023

Schedule of Investments [Line Items]

Industry

^[8]

Health Care Equipment & Supplies

Acquisition Date

^[8]

Jun. 14, 2023

Cost

^[8]

$ 51

Fair Value

^[8]

$ 50

Shares/Units

^[8]

161,761

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | aTyr Pharma, Inc. Warrants | Pharmaceuticals | 11/18/2016

Schedule of Investments [Line Items]

Industry

^[8]

Pharmaceuticals

Acquisition Date

^[8]

Nov. 18, 2016

Cost

^[8]

$ 36

Fair Value

^[8]

$ 0

Shares/Units

^[8]

2,932

Investment, Identifier [Axis]: ENS Holdings III Corp and ES Opco USA LLC | Trading Companies and Distributors | S+475 | 10.20% | 11.13% | 12/31/25

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

475.00%

Interest Rate

^[4]

10.15%

^[2]

10.20%

^[5]

Cost

^[4]

$ 1,083

$ 1,086

Fair Value

^[3],[4]

$ 1,083

$ 1,086

Investment, Identifier [Axis]: Equipment Financing - 24.1% | A&A Crane and Rigging, LLC | Commercial Services & Supplies| 7.78% | 3/27/2023 | 3/27/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

7.78%

Acquisition Date

^[24]

Mar. 27, 2023

Maturity Date

^[24]

Mar. 27, 2028

Par Amount

^[24]

$ 65

Cost

^[24]

Fair Value

^[24]

$ 65

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Aero Operating LLC | Commercial Services & Supplies| 8.47-9.64%| 2/12/2021 |3/1/2025-12/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Feb. 12, 2021

Par Amount

^[24]

$ 1,189

Cost

^[24]

1,187

Fair Value

^[24]

$ 1,187

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Aero Operating LLC | Commercial Services & Supplies| 8.47-9.64%| 2/12/2021 |3/1/2025-12/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.64%

Maturity Date

^[24]

Dec. 01, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Aero Operating LLC | Commercial Services & Supplies| 8.47-9.64%| 2/12/2021 |3/1/2025-12/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.47%

Maturity Date

^[24]

Mar. 01, 2025

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Air Methods Corporation |Airlines| 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026

Schedule of Investments [Line Items]

Industry

^[24]

Airlines

Acquisition Date

^[24]

Nov. 03, 2021

Par Amount

^[24]

$ 2,973

Cost

^[24]

3,008

Fair Value

^[24]

$ 2,973

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Air Methods Corporation |Airlines| 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.13%

Maturity Date

^[24]

Nov. 23, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Air Methods Corporation |Airlines| 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.08%

Maturity Date

^[24]

Nov. 03, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1% | AmeraMex International, Inc. | Commercial Services & Supplies| 10.00% | 3/29/2019 | 4/15/2025

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

10.00%

Acquisition Date

^[24]

Mar. 29, 2019

Maturity Date

^[24]

Apr. 15, 2025

Par Amount

^[24]

$ 270

Cost

^[24]

270

Fair Value

^[24]

$ 273

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Boart Longyear Company| Metals & Mining| 8.31-10.40% | 5/28/2020 | 7/1/2024-10/7/2026

Schedule of Investments [Line Items]

Industry

^[24]

Metals & Mining

Acquisition Date

^[24]

May 28, 2020

Par Amount

^[24]

$ 2,013

Cost

^[24]

2,013

Fair Value

^[24]

$ 2,013

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Boart Longyear Company| Metals & Mining| 8.31-10.40% | 5/28/2020 | 7/1/2024-10/7/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.40%

Maturity Date

^[24]

Oct. 07, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Boart Longyear Company| Metals & Mining| 8.31-10.40% | 5/28/2020 | 7/1/2024-10/7/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.31%

Maturity Date

^[24]

Jul. 01, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Bowman Energy Solutions, LLC | Commercial Services & Supplies|7.42% | 7/1/2022 | 7/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

7.42%

Acquisition Date

^[24]

Jul. 01, 2022

Maturity Date

^[24]

Jul. 01, 2026

Par Amount

^[24]

$ 104

Cost

^[24]

104

Fair Value

^[24]

$ 104

Investment, Identifier [Axis]: Equipment Financing - 24.1% | C-Port/Stone LLC | Oil, Gas & Consumable Fuels | 8.54% |10/7/2022 | 11/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Oil, Gas & Consumable Fuels

Interest Rate

^[24],[25]

8.54%

Acquisition Date

^[24]

Oct. 07, 2022

Maturity Date

^[24]

Nov. 01, 2027

Par Amount

^[24]

$ 6,126

Cost

^[24]

5,988

Fair Value

^[24]

$ 5,942

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Diversified Consumer Services| 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Aug. 11, 2022

Par Amount

^[24]

$ 1,013

Cost

^[24]

1,013

Fair Value

^[24]

$ 1,013

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Diversified Consumer Services| 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

11.29%

Maturity Date

^[24]

Mar. 01, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Diversified Consumer Services| 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.00%

Maturity Date

^[24]

Aug. 11, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1% | SLR Equipment Finance Equity Interests | Multi-Sector Holdings | 7/31/2017

Schedule of Investments [Line Items]

Industry

^{[8],[21],[26],[27]}

Multi-Sector Holdings

Acquisition Date

^{[8],[21],[26],[27]}

Jul. 31, 2017

Cost

^{[8],[21],[26],[27]}

$ 145,000

Fair Value

^{[8],[21],[26],[27]}

$ 119,250

Shares/Units

^{[8],[21],[26],[27]}

200

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Total Equipment Financing

Schedule of Investments [Line Items]

Cost

$ 265,938

Fair Value

$ 239,339

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Waste Pro of Florida, Inc. & Waste Pro USA, Inc. | Commercial Services & Supplies| 9.17% | 4/18/2023 | 4/18/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

9.17%

Acquisition Date

^[24]

Apr. 18, 2023

Maturity Date

^[24]

Apr. 18, 2028

Par Amount

^[24]

$ 8,491

Cost

^[24]

8,619

Fair Value

^[24]

$ 8,491

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Wind River Environmental, LLC | Diversified Consumer Services| 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Jul. 31, 2019

Par Amount

^[24]

$ 233

Cost

^[24]

234

Fair Value

^[24]

$ 233

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Wind River Environmental, LLC | Diversified Consumer Services| 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.00%

Maturity Date

^[24]

Oct. 05, 2025

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Wind River Environmental, LLC | Diversified Consumer Services| 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.43%

Maturity Date

^[24]

Aug. 01, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Womble Company, Inc. | Energy Equipment & Services| 9.11% | 12/27/2019 | 1/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Energy Equipment & Services

Interest Rate

^[24],[25]

9.11%

Acquisition Date

^[24]

Dec. 27, 2019

Maturity Date

^[24]

Jan. 01, 2025

Par Amount

^[24]

$ 163

Cost

^[24]

163

Fair Value

^[24]

$ 160

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Worldwide Flight Services, Inc. | Transportation Infrastructure| 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028

Schedule of Investments [Line Items]

Industry

^[24]

Transportation Infrastructure

Acquisition Date

^[24]

Sep. 23, 2022

Par Amount

^[24]

$ 2,911

Cost

^[24]

2,952

Fair Value

^[24]

$ 2,911

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Worldwide Flight Services, Inc. | Transportation Infrastructure| 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.93%

Maturity Date

^[24]

Aug. 16, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Worldwide Flight Services, Inc. | Transportation Infrastructure| 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.32%

Maturity Date

^[24]

Sep. 23, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Zamborelli Enterprises Pacific Southern Foundation | Diversified Consumer Services| 8.91% | 12/7/2022 | 1/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Interest Rate

^[24],[25]

8.91%

Acquisition Date

^[24]

Dec. 07, 2022

Maturity Date

^[24]

Jan. 01, 2027

Par Amount

^[24]

$ 526

Cost

^[24]

529

Fair Value

^[24]

$ 526

Investment, Identifier [Axis]: Equipment Financing - 24.1%| CKD Holdings, Inc | Road & Rail |8.10-8.60% | 9/22/2022 | 3/22/2026-9/22/2027

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Acquisition Date

^[24]

Sep. 22, 2022

Par Amount

^[24]

$ 2,645

Cost

^[24]

2,645

Fair Value

^[24]

$ 2,645

Investment, Identifier [Axis]: Equipment Financing - 24.1%| CKD Holdings, Inc | Road & Rail |8.10-8.60% | 9/22/2022 | 3/22/2026-9/22/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.60%

Maturity Date

^[24]

Sep. 22, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1%| CKD Holdings, Inc | Road & Rail |8.10-8.60% | 9/22/2022 | 3/22/2026-9/22/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.10%

Maturity Date

^[24]

Mar. 22, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Clubcorp Holdings, Inc| Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Hotels, Restaurants & Leisure

Acquisition Date

^[24]

May 27, 2021

Par Amount

^[24]

$ 5,923

Cost

^[24]

5,923

Fair Value

^[24]

$ 5,923

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Clubcorp Holdings, Inc| Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

13.01%

Maturity Date

^[24]

May 01, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Clubcorp Holdings, Inc| Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.36%

Maturity Date

^[24]

Apr. 01, 2025

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Mar. 23, 2023

Par Amount

^[24]

$ 1,747

Cost

^[24]

1,722

Fair Value

^[24]

$ 1,717

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.15%

Maturity Date

^[24]

Jun. 01, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

6.75%

Maturity Date

^[24]

Apr. 01, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Dongwon Autopart Technology Inc | Auto Components | 7.96%| 2/2/2021|1/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Auto Components

Interest Rate

^[24],[25]

7.96%

Acquisition Date

^[24]

Feb. 02, 2021

Maturity Date

^[24]

Jan. 01, 2026

Par Amount

^[24]

$ 1,119

Cost

^[24]

1,127

Fair Value

^[24]

$ 1,119

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Double S Industrial Contractors, Inc | Commercial Services & Supplies | 8.60% | 7/28/2023 | 8/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

8.60%

Acquisition Date

^[24]

Jul. 28, 2023

Maturity Date

^[24]

Aug. 01, 2027

Par Amount

^[24]

$ 106

Cost

^[24]

106

Fair Value

^[24]

$ 106

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08%| 10/31/2022 | 11/1/2027-6/1/2029

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Oct. 31, 2022

Par Amount

^[24]

$ 1,781

Cost

^[24]

1,784

Fair Value

^[24]

$ 1,781

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08%| 10/31/2022 | 11/1/2027-6/1/2029 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.08%

Maturity Date

^[24]

Jun. 01, 2029

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08%| 10/31/2022 | 11/1/2027-6/1/2029 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.00%

Maturity Date

^[24]

Nov. 01, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Energy Drilling Services, LLC| Diversified Consumer Services | 6.58-9.16%| 8/26/2022 |11/9/2025-9/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Aug. 26, 2022

Par Amount

^[24]

$ 1,033

Cost

^[24]

1,033

Fair Value

^[24]

$ 1,033

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Energy Drilling Services, LLC| Diversified Consumer Services | 6.58-9.16%| 8/26/2022 |11/9/2025-9/1/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.16%

Maturity Date

^[24]

Sep. 01, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Energy Drilling Services, LLC| Diversified Consumer Services | 6.58-9.16%| 8/26/2022 |11/9/2025-9/1/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

6.58%

Maturity Date

^[24]

Nov. 09, 2025

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Environmental Protection & Improvement Company, LLC | Road & Rail|8.25% | 9/30/2020 | 10/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[25]

8.25%

Acquisition Date

^[24]

Sep. 30, 2020

Maturity Date

^[24]

Oct. 01, 2027

Par Amount

^[24]

$ 4,379

Cost

^[24]

4,397

Fair Value

^[24]

$ 4,379

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Equipment Operating Leases, LLC | Multi-Sector Holdings | 8.37% | 4/27/2018 | 4/27/2025

Schedule of Investments [Line Items]

Industry

^[21],[28]

Multi-Sector Holdings

Interest Rate

^{[21],[25],[28]}

8.37%

Acquisition Date

^[21],[28]

Apr. 27, 2018

Maturity Date

^[21],[28]

Apr. 27, 2025

Par Amount

^[21],[28]

$ 3,260

Cost

^[21],[28]

3,260

Fair Value

^[21],[28]

$ 3,179

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Extreme Steel Crane & Rigging, LLC | Commercial Services & Supplies| 9.52% | 3/3/2023 | 3/3/2027

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

9.52%

Acquisition Date

^[24]

Mar. 03, 2023

Maturity Date

^[24]

Mar. 03, 2027

Par Amount

^[24]

$ 791

Cost

^[24]

797

Fair Value

^[24]

$ 791

Investment, Identifier [Axis]: Equipment Financing - 24.1%| First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Financial Services

Acquisition Date

^[24]

Oct. 28, 2021

Par Amount

^[24]

$ 2,106

Cost

^[24]

2,108

Fair Value

^[24]

$ 2,106

Investment, Identifier [Axis]: Equipment Financing - 24.1%| First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.02%

Maturity Date

^[24]

Mar. 01, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1%| First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.50%

Maturity Date

^[24]

Oct. 01, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1%| First National Capital, LLC | Diversified Financial Services | 9.00% | 11/5/2021 | 8/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Financial Services

Interest Rate

^[24],[25]

9.00%

Acquisition Date

^[24]

Nov. 05, 2021

Maturity Date

^[24]

Aug. 01, 2026

Par Amount

^[24]

$ 4,830

Cost

^[24]

4,830

Fair Value

^[24]

$ 4,830

Investment, Identifier [Axis]: Equipment Financing - 24.1%| GMT Corporation|Machinery | 10.71% | 10/23/2018 | 1/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Machinery

Interest Rate

^[24],[25]

10.71%

Acquisition Date

^[24]

Oct. 23, 2018

Maturity Date

^[24]

Jan. 01, 2026

Par Amount

^[24]

$ 3,542

Cost

^[24]

3,544

Fair Value

^[24]

$ 3,542

Investment, Identifier [Axis]: Equipment Financing - 24.1%| HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Nov. 15, 2018

Par Amount

^[24]

$ 117

Cost

^[24]

117

Fair Value

^[24]

$ 113

Investment, Identifier [Axis]: Equipment Financing - 24.1%| HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.94%

Maturity Date

^[24]

Sep. 01, 2025

Investment, Identifier [Axis]: Equipment Financing - 24.1%| HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

9.69%

Maturity Date

^[24]

May 01, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Hawkeye Contracting Company, LLC | Construction & Engineering | 10.50% | 10/8/2021| 11/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Construction & Engineering

Interest Rate

^[24],[25]

10.50%

Acquisition Date

^[24]

Oct. 08, 2021

Maturity Date

^[24]

Nov. 01, 2025

Par Amount

^[24]

$ 606

Cost

^[24]

606

Fair Value

^[24]

$ 606

Investment, Identifier [Axis]: Equipment Financing - 24.1%| International Automotive Components Group, North America, Inc | Auto Components | 7.95% | 6/23/2021 | 6/23/2025

Schedule of Investments [Line Items]

Industry

^[24]

Auto Components

Interest Rate

^[24],[25]

7.95%

Acquisition Date

^[24]

Jun. 23, 2021

Maturity Date

^[24]

Jun. 23, 2025

Par Amount

^[24]

$ 3,186

Cost

^[24]

3,196

Fair Value

^[24]

$ 3,186

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Loc Performance Products, LLC | Machinery |10.50% |12/29/2022 | 6/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Machinery

Interest Rate

^[24],[25]

10.50%

Acquisition Date

^[24]

Dec. 29, 2022

Maturity Date

^[24]

Jun. 01, 2027

Par Amount

^[24]

$ 598

Cost

^[24]

598

Fair Value

^[24]

$ 598

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024

Schedule of Investments [Line Items]

Industry

^[21],[28]

Multi-Sector Holdings

Acquisition Date

^[21],[28]

May 16, 2019

Par Amount

^[21],[28]

$ 7,500

Cost

^[21],[28]

7,500

Fair Value

^[21],[28]

$ 7,361

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[21],[25],[28]}

11.52%

Maturity Date

^[21],[28]

Sep. 25, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[21],[25],[28]}

8.73%

Maturity Date

^[21],[28]

May 16, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Credit Consultants, LLC| Road & Rail | 8.28-12.09% | 6/17/2021 | 12/1/2024-12/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Acquisition Date

^[24]

Jun. 17, 2021

Par Amount

^[24]

$ 9,650

Cost

^[24]

9,650

Fair Value

^[24]

$ 9,650

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Credit Consultants, LLC| Road & Rail | 8.28-12.09% | 6/17/2021 | 12/1/2024-12/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

12.09%

Maturity Date

^[24]

Dec. 01, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Credit Consultants, LLC| Road & Rail | 8.28-12.09% | 6/17/2021 | 12/1/2024-12/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.28%

Maturity Date

^[24]

Dec. 01, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Vending, LLC | Consumer Finance |12.46-13.26% | 8/20/2021| 8/20/2024-11/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Consumer Finance

Acquisition Date

^[24]

Aug. 20, 2021

Par Amount

^[24]

$ 360

Cost

^[24]

361

Fair Value

^[24]

$ 360

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Vending, LLC | Consumer Finance |12.46-13.26% | 8/20/2021| 8/20/2024-11/1/2024 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

13.26%

Maturity Date

^[24]

Nov. 01, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Vending, LLC | Consumer Finance |12.46-13.26% | 8/20/2021| 8/20/2024-11/1/2024 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

12.46%

Maturity Date

^[24]

Aug. 20, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Miranda Logistics Enterprise, Inc | Construction & Engineering | 7.69% | 4/14/2023 | 4/14/2028

Schedule of Investments [Line Items]

Industry

^[24]

Construction & Engineering

Interest Rate

^[24],[25]

7.69%

Acquisition Date

^[24]

Apr. 14, 2023

Maturity Date

^[24]

Apr. 14, 2028

Par Amount

^[24]

$ 748

Cost

^[24]

748

Fair Value

^[24]

$ 748

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Mountain Air Helicopters, Inc | Commercial Services & Supplies | 10.00% | 7/31/2017 | 2/28/2025

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

10.00%

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Feb. 28, 2025

Par Amount

^[24]

$ 216

Cost

^[24]

215

Fair Value

^[24]

$ 216

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Nimble Crane LLC | Commercial Services & Supplies | 9.18% |7/13/2023 | 7/13/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

9.18%

Acquisition Date

^[24]

Jul. 13, 2023

Maturity Date

^[24]

Jul. 13, 2028

Par Amount

^[24]

$ 893

Cost

^[24]

893

Fair Value

^[24]

$ 893

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Ozzies, Inc | Commercial Services & Supplies |10.72% |12/23/2022 | 1/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

10.72%

Acquisition Date

^[24]

Dec. 23, 2022

Maturity Date

^[24]

Jan. 01, 2027

Par Amount

^[24]

$ 1,509

Cost

^[24]

1,550

Fair Value

^[24]

$ 1,509

Investment, Identifier [Axis]: Equipment Financing - 24.1%| PCX Aerostructures LLC | Aerospace & Defense | 9.32% |11/23/2022 | 12/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Aerospace & Defense

Interest Rate

^[24],[25]

9.32%

Acquisition Date

^[24]

Nov. 23, 2022

Maturity Date

^[24]

Dec. 01, 2028

Par Amount

^[24]

$ 2,219

Cost

^[24]

2,219

Fair Value

^[24]

$ 2,219

Investment, Identifier [Axis]: Equipment Financing - 24.1%| RH Land Construction, LLC & Harbor Dredging LA, Inc | Construction & Engineering | 8.08% | 5/10/2023 | 5/10/2026

Schedule of Investments [Line Items]

Industry

^[24]

Construction & Engineering

Interest Rate

^[24],[25]

8.08%

Acquisition Date

^[24]

May 10, 2023

Maturity Date

^[24]

May 10, 2026

Par Amount

^[24]

$ 103

Cost

^[24]

103

Fair Value

^[24]

$ 103

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rane Light Metal Castings Inc | Machinery | 10.00% | 6/1/2020 | 6/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Machinery

Interest Rate

^[24],[25]

10.00%

Acquisition Date

^[24]

Jun. 01, 2020

Maturity Date

^[24]

Jun. 01, 2024

Par Amount

^[24]

$ 28

Cost

^[24]

Fair Value

^[24]

$ 28

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rango, Inc | Commercial Services & Supplies | 9.33% | 9/24/2019 | 11/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

9.33%

Acquisition Date

^[24]

Sep. 24, 2019

Maturity Date

^[24]

Nov. 01, 2024

Par Amount

^[24]

$ 459

Cost

^[24]

466

Fair Value

^[24]

$ 451

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

May 19, 2023

Par Amount

^[24]

$ 690

Cost

^[24]

690

Fair Value

^[24]

$ 690

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.27%

Maturity Date

^[24]

Jun. 30, 2030

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.69%

Maturity Date

^[24]

May 18, 2030

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rotten Rock Hardscaping & Tree Service | Diversified Consumer Services | 8.21% | 12/6/2022 | 12/6/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Interest Rate

^[24],[25]

8.21%

Acquisition Date

^[24]

Dec. 06, 2022

Maturity Date

^[24]

Dec. 06, 2027

Par Amount

^[24]

$ 193

Cost

^[24]

193

Fair Value

^[24]

$ 193

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rutt Services, LLC | Commercial Services & Supplies | 8.95% | 8/11/2023 | 8/11/2030

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

8.95%

Acquisition Date

^[24]

Aug. 11, 2023

Maturity Date

^[24]

Aug. 11, 2030

Par Amount

^[24]

$ 1,151

Cost

^[24]

1,153

Fair Value

^[24]

$ 1,151

Investment, Identifier [Axis]: Equipment Financing - 24.1%| ST Coaches, LLC | Road & Rail | 8.50% | 7/31/2017 | 1/25/2025

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[25]

8.50%

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Jan. 25, 2025

Par Amount

^[24]

$ 568

Cost

^[24]

568

Fair Value

^[24]

$ 568

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Signet Marine Corporation | Transportation Infrastructure | 8.50% | 10/31/2022 | 10/1/2029

Schedule of Investments [Line Items]

Industry

^[24]

Transportation Infrastructure

Interest Rate

^[24],[25]

8.50%

Acquisition Date

^[24]

Oct. 31, 2022

Maturity Date

^[24]

Oct. 01, 2029

Par Amount

^[24]

$ 11,822

Cost

^[24]

11,858

Fair Value

^[24]

$ 11,822

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Jun. 30, 2022

Par Amount

^[24]

$ 5,763

Cost

^[24]

5,763

Fair Value

^[24]

$ 5,763

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.61%

Maturity Date

^[24]

Jun. 27, 2030

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.82%

Maturity Date

^[24]

Sep. 15, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Star Coaches Inc | Road & Rail | 8.42% | 3/9/2018 |4/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[25]

8.42%

Acquisition Date

^[24]

Mar. 09, 2018

Maturity Date

^[24]

Apr. 01, 2025

Par Amount

^[24]

$ 2,180

Cost

^[24]

2,180

Fair Value

^[24]

$ 2,071

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Superior Transportation, Inc | Road & Rail |10.22-10.69% | 7/31/2017 | 1/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Jan. 01, 2026

Par Amount

^[24]

$ 1,978

Cost

^[24]

1,978

Fair Value

^[24]

$ 1,978

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Superior Transportation, Inc | Road & Rail |10.22-10.69% | 7/31/2017 | 1/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.69%

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Superior Transportation, Inc | Road & Rail |10.22-10.69% | 7/31/2017 | 1/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.22%

Investment, Identifier [Axis]: Equipment Financing - 24.1%| The Smedley Company & Smedley Services, Inc .| Commercial Services & Supplies | 4.07% | 7/31/2017 | 1/15/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

4.07%

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Jan. 15, 2028

Par Amount

^[24]

$ 1,189

Cost

^[24]

1,189

Fair Value

^[24]

$ 1,104

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment Rentals, Inc |Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Oct. 08, 2021

Par Amount

^[24]

$ 305

Cost

^[24]

305

Fair Value

^[24]

$ 305

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment Rentals, Inc |Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.75%

Maturity Date

^[24]

Dec. 01, 2026

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment Rentals, Inc |Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

7.94%

Maturity Date

^[24]

Nov. 01, 2024

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

May 04, 2023

Par Amount

^[24]

$ 1,282

Cost

^[24]

1,282

Fair Value

^[24]

$ 1,282

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.93%

Maturity Date

^[24]

May 19, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.78%

Maturity Date

^[24]

May 04, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1%| U.S. Crane & Rigging, LLC |Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Dec. 23, 2022

Par Amount

^[24]

$ 2,428

Cost

^[24]

2,428

Fair Value

^[24]

$ 2,428

Investment, Identifier [Axis]: Equipment Financing - 24.1%| U.S. Crane & Rigging, LLC |Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

10.92%

Maturity Date

^[24]

Sep. 01, 2028

Investment, Identifier [Axis]: Equipment Financing - 24.1%| U.S. Crane & Rigging, LLC |Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.73%

Maturity Date

^[24]

Mar. 01, 2027

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Up Trucking Services, LLC | Road & Rail | 11.30% | 3/23/2018 | 8/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[25]

11.30%

Acquisition Date

^[24]

Mar. 23, 2018

Maturity Date

^[24]

Aug. 01, 2024

Par Amount

^[24]

$ 184

Cost

^[24]

184

Fair Value

^[24]

$ 184

Investment, Identifier [Axis]: Equipment Financing - 26.0% | A&A Crane and Rigging, LLC | Commercial Services & Supplies | 7.78% | 3/27/2023 | 3/27/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

7.78%

Acquisition Date

^[24]

Mar. 27, 2023

Maturity Date

^[24]

Mar. 27, 2028

Par Amount

^[24]

$ 69

Cost

^[24]

Fair Value

^[24]

$ 69

Investment, Identifier [Axis]: Equipment Financing 26.0% | AFG Dallas III, LLC | Diversified Consumer Services | 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Aug. 11, 2022

Par Amount

^[24]

$ 1,099

Cost

^[24]

1,099

Fair Value

^[24]

$ 1,099

Investment, Identifier [Axis]: Equipment Financing 26.0% | AFG Dallas III, LLC | Diversified Consumer Services | 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

11.29%

Maturity Date

^[24]

Mar. 01, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | AFG Dallas III, LLC | Diversified Consumer Services | 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.00%

Maturity Date

^[24]

Aug. 11, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Air Methods Corporation | Airlines | 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026

Schedule of Investments [Line Items]

Industry

^[24]

Airlines

Acquisition Date

^[24]

Nov. 03, 2021

Par Amount

^[24]

$ 3,103

Cost

^[24]

3,142

Fair Value

^[24]

$ 3,103

Investment, Identifier [Axis]: Equipment Financing 26.0% | Air Methods Corporation | Airlines | 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.13%

Maturity Date

^[24]

Nov. 23, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Air Methods Corporation | Airlines | 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.08%

Maturity Date

^[24]

Nov. 03, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | AmeraMex International, Inc | Commercial Services & Supplies |10.00% | 3/29/2019 | 4/15/2025

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

10.00%

Acquisition Date

^[24]

Mar. 29, 2019

Maturity Date

^[24]

Oct. 15, 2024

Par Amount

^[24]

$ 381

Cost

^[24]

381

Fair Value

^[24]

$ 385

Investment, Identifier [Axis]: Equipment Financing 26.0% | Bazzini, LLC | Food & Staples Retailing |10.46% |12/23/2022 |1/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Food & Staples Retailing

Interest Rate

^[24],[29]

10.46%

Acquisition Date

^[24]

Dec. 23, 2022

Maturity Date

^[24]

Jan. 01, 2028

Par Amount

^[24]

$ 1,985

Cost

^[24]

2,043

Fair Value

^[24]

$ 1,985

Investment, Identifier [Axis]: Equipment Financing 26.0% | Boart Longyear Company | Metals & Mining | 8.31-10.44% | 5/28/2020 | 7/1/2024-10/7/2026

Schedule of Investments [Line Items]

Industry

^[24]

Metals & Mining

Acquisition Date

^[24]

May 28, 2020

Par Amount

^[24]

$ 2,447

Cost

^[24]

2,447

Fair Value

^[24]

$ 2,447

Investment, Identifier [Axis]: Equipment Financing 26.0% | Boart Longyear Company | Metals & Mining | 8.31-10.44% | 5/28/2020 | 7/1/2024-10/7/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.44%

Maturity Date

^[24]

Oct. 07, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Boart Longyear Company | Metals & Mining | 8.31-10.44% | 5/28/2020 | 7/1/2024-10/7/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.31%

Maturity Date

^[24]

Jul. 01, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Bowman Energy Solutions, LLC | Commercial Services & Supplies | 7.42% | 7/1/2022 | 8/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

7.42%

Acquisition Date

^[24]

Jul. 01, 2022

Maturity Date

^[24]

Jul. 01, 2026

Par Amount

^[24]

$ 114

Cost

^[24]

114

Fair Value

^[24]

$ 114

Investment, Identifier [Axis]: Equipment Financing 26.0% | C-Port/Stone LLC | Oil, Gas & Consumable Fuels | 8.54% | 10/7/2022 | 11/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Oil, Gas & Consumable Fuels

Interest Rate

^[24],[29]

8.54%

Acquisition Date

^[24]

Oct. 07, 2022

Maturity Date

^[24]

Nov. 01, 2027

Par Amount

^[24]

$ 6,247

Cost

^[24]

6,098

Fair Value

^[24]

$ 6,060

Investment, Identifier [Axis]: Equipment Financing 26.0% | CKD Holdings, Inc | Road & Rail | 8.10-8.60% | 9/22/2022 | 6/22/2026-9/22/2027

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Acquisition Date

^[24]

Sep. 22, 2022

Par Amount

^[24]

$ 2,863

Cost

^[24]

2,863

Fair Value

^[24]

$ 2,863

Investment, Identifier [Axis]: Equipment Financing 26.0% | CKD Holdings, Inc | Road & Rail | 8.10-8.60% | 9/22/2022 | 6/22/2026-9/22/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.60%

Maturity Date

^[24]

Sep. 22, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | CKD Holdings, Inc | Road & Rail | 8.10-8.60% | 9/22/2022 | 6/22/2026-9/22/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.10%

Maturity Date

^[24]

Mar. 22, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Capital City Jet Center, Inc | Airlines | 10.00% | 4/4/2018 | 6/22/2026

Schedule of Investments [Line Items]

Industry

^[24]

Airlines

Interest Rate

^[24],[29]

10.00%

Acquisition Date

^[24]

Apr. 04, 2018

Maturity Date

^[24]

Jun. 22, 2026

Par Amount

^[24]

$ 1,242

Cost

^[24]

1,242

Fair Value

^[24]

$ 1,242

Investment, Identifier [Axis]: Equipment Financing 26.0% | Carolinas Contracting, LLC | Diversified Consumer Services | 8.40-8.72% | 3/7/2023 | 3/7/2028-5/18/2028

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Mar. 07, 2023

Par Amount

^[24]

$ 3,523

Cost

^[24]

3,554

Fair Value

^[24]

$ 3,523

Investment, Identifier [Axis]: Equipment Financing 26.0% | Carolinas Contracting, LLC | Diversified Consumer Services | 8.40-8.72% | 3/7/2023 | 3/7/2028-5/18/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.72%

Maturity Date

^[24]

May 18, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Carolinas Contracting, LLC | Diversified Consumer Services | 8.40-8.72% | 3/7/2023 | 3/7/2028-5/18/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.40%

Maturity Date

^[24]

Mar. 07, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Clubcorp Holdings, Inc | Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Hotels, Restaurants & Leisure

Acquisition Date

^[24]

May 27, 2021

Par Amount

^[24]

$ 6,461

Cost

^[24]

6,461

Fair Value

^[24]

$ 6,461

Investment, Identifier [Axis]: Equipment Financing 26.0% | Clubcorp Holdings, Inc | Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

13.01%

Maturity Date

^[24]

May 01, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Clubcorp Holdings, Inc | Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.36%

Maturity Date

^[24]

Apr. 01, 2025

Investment, Identifier [Axis]: Equipment Financing 26.0% | Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Mar. 23, 2023

Par Amount

^[24]

$ 1,837

Cost

^[24]

1,810

Fair Value

^[24]

$ 1,806

Investment, Identifier [Axis]: Equipment Financing 26.0% | Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.15%

Maturity Date

^[24]

Jun. 01, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

6.75%

Maturity Date

^[24]

Apr. 01, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Dongwon Autopart Technology Inc | Auto Components | 7.96% | 2/2/2021 |1/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Auto Components

Interest Rate

^[24],[29]

7.96%

Acquisition Date

^[24]

Feb. 02, 2021

Maturity Date

^[24]

Jan. 01, 2026

Par Amount

^[24]

$ 1,266

Cost

^[24]

1,277

Fair Value

^[24]

$ 1,266

Investment, Identifier [Axis]: Equipment Financing 26.0% | Double S Industrial Contractors, Inc | Commercial Services & Supplies | 8.60% | 7/28/2023 | 8/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

8.60%

Acquisition Date

^[24]

Jul. 28, 2023

Maturity Date

^[24]

Aug. 01, 2027

Par Amount

^[24]

$ 112

Cost

^[24]

112

Fair Value

^[24]

$ 112

Investment, Identifier [Axis]: Equipment Financing 26.0% | Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08% | 10/31/2022 | 11/1/2027-6/1/2029

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Oct. 31, 2022

Par Amount

^[24]

$ 1,873

Cost

^[24]

1,875

Fair Value

^[24]

$ 1,873

Investment, Identifier [Axis]: Equipment Financing 26.0% | Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08% | 10/31/2022 | 11/1/2027-6/1/2029 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.08%

Maturity Date

^[24]

Jun. 01, 2029

Investment, Identifier [Axis]: Equipment Financing 26.0% | Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08% | 10/31/2022 | 11/1/2027-6/1/2029 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.00%

Maturity Date

^[24]

Nov. 01, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | Energy Drilling Services, LLC | Diversified Consumer Services | 6.58-9.16% | 8/26/2022 | 11/9/2025-9/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Aug. 26, 2022

Par Amount

^[24]

$ 1,076

Cost

^[24]

1,076

Fair Value

^[24]

$ 1,076

Investment, Identifier [Axis]: Equipment Financing 26.0% | Energy Drilling Services, LLC | Diversified Consumer Services | 6.58-9.16% | 8/26/2022 | 11/9/2025-9/1/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.16%

Maturity Date

^[24]

Sep. 01, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | Energy Drilling Services, LLC | Diversified Consumer Services | 6.58-9.16% | 8/26/2022 | 11/9/2025-9/1/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

6.58%

Maturity Date

^[24]

Nov. 09, 2025

Investment, Identifier [Axis]: Equipment Financing 26.0% | Environmental Protection & Improvement Company, LLC | Road & Rail | 8.25% | 9/30/2020 | 10/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[29]

8.25%

Acquisition Date

^[24]

Sep. 30, 2020

Maturity Date

^[24]

Oct. 01, 2027

Par Amount

^[24]

$ 4,564

Cost

^[24]

4,585

Fair Value

^[24]

$ 4,564

Investment, Identifier [Axis]: Equipment Financing 26.0% | Equipment Operating Leases, LLC | Multi-Sector Holdings | 8.37% | 4/27/2018 | 4/27/2025

Schedule of Investments [Line Items]

Industry

^[10],[28]

Multi-Sector Holdings

Interest Rate

^{[10],[28],[29]}

8.37%

Acquisition Date

^[10],[28]

Apr. 27, 2018

Maturity Date

^[10],[28]

Apr. 27, 2025

Par Amount

^[10],[28]

$ 3,381

Cost

^[10],[28]

3,381

Fair Value

^[10],[28]

$ 3,296

Investment, Identifier [Axis]: Equipment Financing 26.0% | Extreme Steel Crane & Rigging, LLC | Commercial Services & Supplies | 9.52% | 3/3/2023 | 3/3/2027

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

9.52%

Acquisition Date

^[24]

Mar. 03, 2023

Maturity Date

^[24]

Mar. 03, 2027

Par Amount

^[24]

$ 847

Cost

^[24]

854

Fair Value

^[24]

$ 847

Investment, Identifier [Axis]: Equipment Financing 26.0% | First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Financial Services

Acquisition Date

^[24]

Oct. 28, 2021

Par Amount

^[24]

$ 2,279

Cost

^[24]

2,281

Fair Value

^[24]

$ 2,279

Investment, Identifier [Axis]: Equipment Financing 26.0% | First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.02%

Maturity Date

^[24]

Mar. 01, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.50%

Maturity Date

^[24]

Oct. 01, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | First National Capital, LLC | Diversified Financial Services | 9.00% | 11/5/2021 | 8/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Financial Services

Interest Rate

^[24],[29]

9.00%

Acquisition Date

^[24]

Nov. 05, 2021

Maturity Date

^[24]

Jul. 01, 2026

Par Amount

^[24]

$ 5,290

Cost

^[24]

5,290

Fair Value

^[24]

$ 5,290

Investment, Identifier [Axis]: Equipment Financing 26.0% | GMT Corporation | Machinery | 10.71% | 10/23/2018 | 1/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Machinery

Interest Rate

^[24],[29]

10.71%

Acquisition Date

^[24]

Oct. 23, 2018

Maturity Date

^[24]

Jan. 01, 2026

Par Amount

^[24]

$ 3,813

Cost

^[24]

3,816

Fair Value

^[24]

$ 3,813

Investment, Identifier [Axis]: Equipment Financing 26.0% | Georgia Jet, Inc | Airlines | 8.00% | 12/4/2017 | 1/4/2024

Schedule of Investments [Line Items]

Industry

^[24]

Airlines

Interest Rate

^[24],[29]

8.00%

Acquisition Date

^[24]

Dec. 04, 2017

Maturity Date

^[24]

Jan. 04, 2024

Par Amount

^[24]

$ 25

Cost

^[24]

Fair Value

^[24]

$ 25

Investment, Identifier [Axis]: Equipment Financing 26.0% | HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services &Supplies

Acquisition Date

^[24]

Nov. 15, 2018

Par Amount

^[24]

$ 153

Cost

^[24]

153

Fair Value

^[24]

$ 149

Investment, Identifier [Axis]: Equipment Financing 26.0% | HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.94%

Maturity Date

^[24]

Sep. 01, 2025

Investment, Identifier [Axis]: Equipment Financing 26.0% | HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.69%

Maturity Date

^[24]

May 01, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Hawkeye Contracting Company, LLC | Construction & Engineering | 10.50% | 10/8/2021 | 11/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Construction & Engineering

Interest Rate

^[24],[29]

10.50%

Acquisition Date

^[24]

Oct. 08, 2021

Maturity Date

^[24]

Nov. 01, 2025

Par Amount

^[24]

$ 689

Cost

^[24]

689

Fair Value

^[24]

$ 689

Investment, Identifier [Axis]: Equipment Financing 26.0% | International Automotive Components Group, North America, Inc | Auto Components | 7.95% | 6/23/2021 | 6/23/2025

Schedule of Investments [Line Items]

Industry

^[24]

Auto Components

Interest Rate

^[24],[29]

7.95%

Acquisition Date

^[24]

Jun. 23, 2021

Maturity Date

^[24]

Jun. 23, 2025

Par Amount

^[24]

$ 3,787

Cost

^[24]

3,801

Fair Value

^[24]

$ 3,711

Investment, Identifier [Axis]: Equipment Financing 26.0% | Kool Pak, LLC | Road & Rail | 8.58% | 2/5/2018 | 3/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[29]

8.58%

Acquisition Date

^[24]

Feb. 05, 2018

Maturity Date

^[24]

Mar. 01, 2024

Par Amount

^[24]

$ 29

Cost

^[24]

Fair Value

^[24]

$ 29

Investment, Identifier [Axis]: Equipment Financing 26.0% | Loc Performance Products, LLC | Machinery | 10.50% | 12/29/2022 | 6/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Machinery

Interest Rate

^[24],[29]

10.50%

Acquisition Date

^[24]

Dec. 29, 2022

Maturity Date

^[24]

Jun. 01, 2027

Par Amount

^[24]

$ 636

Cost

^[24]

636

Fair Value

^[24]

$ 636

Investment, Identifier [Axis]: Equipment Financing 26.0% | Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024

Schedule of Investments [Line Items]

Industry

^[10],[28]

Multi-Sector Holdings

Acquisition Date

^[10],[28]

May 16, 2019

Par Amount

^[10],[28]

$ 7,500

Cost

^[10],[28]

7,500

Fair Value

^[10],[28]

$ 7,361

Investment, Identifier [Axis]: Equipment Financing 26.0% | Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[10],[28],[29]}

11.52%

Maturity Date

^[10],[28]

Sep. 25, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^{[10],[28],[29]}

8.73%

Maturity Date

^[10],[28]

May 16, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Credit Consultants, LLC | Road & Rail | 8.28-12.09 % | 6/17/2021 | 12/1/2024-12/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Acquisition Date

^[24]

Jun. 17, 2021

Par Amount

^[24]

$ 10,911

Cost

^[24]

10,911

Fair Value

^[24]

$ 10,911

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Credit Consultants, LLC | Road & Rail | 8.28-12.09 % | 6/17/2021 | 12/1/2024-12/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

12.09%

Maturity Date

^[24]

Dec. 01, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Credit Consultants, LLC | Road & Rail | 8.28-12.09 % | 6/17/2021 | 12/1/2024-12/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.28%

Maturity Date

^[24]

Dec. 01, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Vending, LLC | Consumer Finance | 12.46-13.26% | 8/20/2021 | 7/20/2024-10/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Consumer Finance

Acquisition Date

^[24]

Aug. 20, 2021

Par Amount

^[24]

$ 632

Cost

^[24]

636

Fair Value

^[24]

$ 632

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Vending, LLC | Consumer Finance | 12.46-13.26% | 8/20/2021 | 7/20/2024-10/1/2024 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

13.26%

Maturity Date

^[24]

Nov. 01, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Vending, LLC | Consumer Finance | 12.46-13.26% | 8/20/2021 | 7/20/2024-10/1/2024 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

12.46%

Maturity Date

^[24]

Aug. 20, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Miranda Logistics Enterprise, Inc | Construction & Engineering | 7.69% | 4/14/2023 | 4/14/2028

Schedule of Investments [Line Items]

Industry

^[24]

Construction & Engineering

Interest Rate

^[24],[29]

7.69%

Acquisition Date

^[24]

Apr. 14, 2023

Maturity Date

^[24]

Apr. 14, 2028

Par Amount

^[24]

$ 787

Cost

^[24]

787

Fair Value

^[24]

$ 787

Investment, Identifier [Axis]: Equipment Financing 26.0% | Mountain Air Helicopters Inc | Commercial Services & Supplies | 10.00% | 7/31/2017 | 2/28/2025

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

10.00%

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Feb. 28, 2025

Par Amount

^[24]

$ 248

Cost

^[24]

247

Fair Value

^[24]

$ 248

Investment, Identifier [Axis]: Equipment Financing 26.0% | Nimble Crane LLC | Commercial Services & Supplies | 9.18% | 7/13/2023 | 7/13/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

9.18%

Acquisition Date

^[24]

Jul. 13, 2023

Maturity Date

^[24]

Jul. 13, 2028

Par Amount

^[24]

$ 934

Cost

^[24]

934

Fair Value

^[24]

$ 934

Investment, Identifier [Axis]: Equipment Financing 26.0% | No Limit Construction Services, LLC | Commercial Services & Supplies | 7.73% | 5/5/2023 | 6/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

7.73%

Acquisition Date

^[24]

May 05, 2023

Maturity Date

^[24]

Jun. 01, 2028

Par Amount

^[24]

$ 118

Cost

^[24]

118

Fair Value

^[24]

$ 118

Investment, Identifier [Axis]: Equipment Financing 26.0% | Ozzies, Inc | Commercial Services & Supplies | 10.72% | 12/23/2022 | 1/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

10.72%

Acquisition Date

^[24]

Dec. 23, 2022

Maturity Date

^[24]

Jan. 01, 2027

Par Amount

^[24]

$ 1,621

Cost

^[24]

1,668

Fair Value

^[24]

$ 1,621

Investment, Identifier [Axis]: Equipment Financing 26.0% | PCX Aerostructures LLC | Aerospace & Defense | 9.32% | 11/23/2022 | 12/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Aerospace & Defense

Interest Rate

^[24],[29]

9.32%

Acquisition Date

^[24]

Nov. 23, 2022

Maturity Date

^[24]

Dec. 01, 2028

Par Amount

^[24]

$ 2,311

Cost

^[24]

2,311

Fair Value

^[24]

$ 2,311

Investment, Identifier [Axis]: Equipment Financing 26.0% | RH Land Construction, LLC & Harbor Dredging LA, Inc | Construction & Engineering | 8.08% | 5/10/2023 | 5/10/2026

Schedule of Investments [Line Items]

Industry

^[24]

Construction & Engineering

Interest Rate

^[24],[29]

8.08%

Acquisition Date

^[24]

May 10, 2023

Maturity Date

^[24]

May 10, 2026

Par Amount

^[24]

$ 114

Cost

^[24]

114

Fair Value

^[24]

$ 114

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rane Light Metal Castings Inc | Machinery | 10.00% | 6/1/2020 | 6/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Machinery

Interest Rate

^[24],[29]

10.00%

Acquisition Date

^[24]

Jun. 01, 2020

Maturity Date

^[24]

Jun. 01, 2024

Par Amount

^[24]

$ 56

Cost

^[24]

Fair Value

^[24]

$ 56

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rango, Inc | Commercial Services & Supplies | 9.33% | 9/24/2019 | 11/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

9.33%

Acquisition Date

^[24]

Sep. 24, 2019

Maturity Date

^[24]

Nov. 01, 2024

Par Amount

^[24]

$ 573

Cost

^[24]

583

Fair Value

^[24]

$ 563

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

May 19, 2023

Par Amount

^[24]

$ 711

Cost

^[24]

711

Fair Value

^[24]

$ 711

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.27%

Maturity Date

^[24]

Jun. 30, 2030

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.69%

Maturity Date

^[24]

May 18, 2030

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rotten Rock Hardscaping & Tree Service | Diversified Consumer Services | 8.21% | 12/6/2022 | 12/6/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Interest Rate

^[24],[29]

8.21%

Acquisition Date

^[24]

Dec. 06, 2022

Maturity Date

^[24]

Dec. 06, 2027

Par Amount

^[24]

$ 204

Cost

^[24]

204

Fair Value

^[24]

$ 204

Investment, Identifier [Axis]: Equipment Financing 26.0% | Royal Express Inc | Road & Rail | 9.53% | 1/17/2019 | 2/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[29]

9.53%

Acquisition Date

^[24]

Jan. 17, 2019

Maturity Date

^[24]

Feb. 01, 2024

Par Amount

^[24]

$ 148

Cost

^[24]

148

Fair Value

^[24]

$ 148

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rutt Services, LLC | Commercial Services & Supplies | 8.95% | 8/11/2023 | 8/11/2030

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

8.95%

Acquisition Date

^[24]

Aug. 11, 2023

Maturity Date

^[24]

Aug. 11, 2030

Par Amount

^[24]

$ 1,176

Cost

^[24]

1,179

Fair Value

^[24]

$ 1,176

Investment, Identifier [Axis]: Equipment Financing 26.0% | SLR Equipment Finance Equity Interests | Multi-Sector Holdings | 7/31/2017

Schedule of Investments [Line Items]

Industry

^{[8],[10],[26],[27]}

Multi-Sector Holdings

Acquisition Date

^{[8],[10],[26],[27]}

Jul. 31, 2017

Cost

^{[8],[10],[26],[27]}

$ 145,000

Fair Value

^{[8],[10],[26],[27]}

$ 120,820

Shares/Units

^{[8],[10],[26],[27]}

200

Investment, Identifier [Axis]: Equipment Financing 26.0% | SLR Equipment Finance | Multi-Sector Holdings | 8.50% | 1/24/2022 | 1/27/2024

Schedule of Investments [Line Items]

Industry

^[10]

Multi-Sector Holdings

Interest Rate

^[10],[29]

8.50%

Acquisition Date

^[10]

Jan. 24, 2022

Maturity Date

^[10]

Jan. 27, 2024

Par Amount

^[10]

$ 3,850

Cost

^[10]

3,850

Fair Value

^[10]

$ 3,850

Investment, Identifier [Axis]: Equipment Financing 26.0% | ST Coaches, LLC | Road & Rail | 8.50% | 7/31/2017 | 1/25/2025

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[29]

8.50%

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Jan. 25, 2025

Par Amount

^[24]

$ 583

Cost

^[24]

583

Fair Value

^[24]

$ 583

Investment, Identifier [Axis]: Equipment Financing 26.0% | Signet Marine Corporation | Transportation Infrastructure | 8.50% | 10/31/2022 | 11/1/2029

Schedule of Investments [Line Items]

Industry

^[24]

Transportation Infrastructure

Interest Rate

^[24],[29]

8.50%

Acquisition Date

^[24]

Oct. 31, 2022

Maturity Date

^[24]

Oct. 01, 2029

Par Amount

^[24]

$ 12,272

Cost

^[24]

12,310

Fair Value

^[24]

$ 12,272

Investment, Identifier [Axis]: Equipment Financing 26.0% | Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Jun. 30, 2022

Par Amount

^[24]

$ 5,945

Cost

^[24]

5,945

Fair Value

^[24]

$ 5,945

Investment, Identifier [Axis]: Equipment Financing 26.0% | Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.61%

Maturity Date

^[24]

Jun. 27, 2030

Investment, Identifier [Axis]: Equipment Financing 26.0% | Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.82%

Maturity Date

^[24]

Sep. 15, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Star Coaches Inc | Road & Rail | 8.42% | 3/9/2018 | 4/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[29]

8.42%

Acquisition Date

^[24]

Mar. 09, 2018

Maturity Date

^[24]

Apr. 01, 2025

Par Amount

^[24]

$ 2,327

Cost

^[24]

2,327

Fair Value

^[24]

$ 2,211

Investment, Identifier [Axis]: Equipment Financing 26.0% | Superior Transportation, Inc | Road & Rail | 10.22-10.63% | 7/31/2017 | 1/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Jan. 01, 2026

Par Amount

^[24]

$ 2,279

Cost

^[24]

2,279

Fair Value

^[24]

$ 2,279

Investment, Identifier [Axis]: Equipment Financing 26.0% | Superior Transportation, Inc | Road & Rail | 10.22-10.63% | 7/31/2017 | 1/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.63%

Investment, Identifier [Axis]: Equipment Financing 26.0% | Superior Transportation, Inc | Road & Rail | 10.22-10.63% | 7/31/2017 | 1/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.22%

Investment, Identifier [Axis]: Equipment Financing 26.0% | The Smedley Company & Smedley Services, Inc | Commercial Services & Supplies | 4.07% | 7/31/2017 | 1/15/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

4.07%

Acquisition Date

^[24]

Jul. 31, 2017

Maturity Date

^[24]

Jan. 15, 2028

Par Amount

^[24]

$ 1,397

Cost

^[24]

1,397

Fair Value

^[24]

1,270

Investment, Identifier [Axis]: Equipment Financing 26.0% | Total Equipment Financing

Schedule of Investments [Line Items]

Cost

282,078

Fair Value

$ 256,819

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment Rentals, Inc | Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Oct. 08, 2021

Par Amount

^[24]

$ 361

Cost

^[24]

361

Fair Value

^[24]

$ 361

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment Rentals, Inc | Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.75%

Maturity Date

^[24]

Dec. 01, 2026

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment Rentals, Inc | Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

7.94%

Maturity Date

^[24]

Nov. 01, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

May 04, 2023

Par Amount

^[24]

$ 1,345

Cost

^[24]

1,345

Fair Value

^[24]

$ 1,345

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.93%

Maturity Date

^[24]

May 19, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.78%

Maturity Date

^[24]

May 04, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | U.S. Crane & Rigging, LLC | Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Dec. 23, 2022

Par Amount

^[24]

$ 2,574

Cost

^[24]

2,574

Fair Value

^[24]

$ 2,574

Investment, Identifier [Axis]: Equipment Financing 26.0% | U.S. Crane & Rigging, LLC | Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.92%

Maturity Date

^[24]

Sep. 01, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | U.S. Crane & Rigging, LLC | Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.73%

Maturity Date

^[24]

Mar. 01, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | Up Trucking Services, LLC | Road & Rail | 11.21% | 3/23/2018 | 8/1/2024

Schedule of Investments [Line Items]

Industry

^[24]

Road & Rail

Interest Rate

^[24],[29]

11.21%

Acquisition Date

^[24]

Mar. 23, 2018

Maturity Date

^[24]

Aug. 01, 2024

Par Amount

^[24]

$ 208

Cost

^[24]

209

Fair Value

^[24]

$ 208

Investment, Identifier [Axis]: Equipment Financing 26.0% | Waste Pro of Florida, Inc. & Waste Pro USA, Inc | Commercial Services & Supplies | 9.17% | 4/18/2023 | 4/18/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[29]

9.17%

Acquisition Date

^[24]

Apr. 18, 2023

Maturity Date

^[24]

Apr. 18, 2028

Par Amount

^[24]

$ 8,915

Cost

^[24]

9,057

Fair Value

^[24]

$ 8,915

Investment, Identifier [Axis]: Equipment Financing 26.0% | Wind River Environmental, LLC | Diversified Consumer Services | 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Jul. 31, 2019

Par Amount

^[24]

$ 311

Cost

^[24]

311

Fair Value

^[24]

$ 311

Investment, Identifier [Axis]: Equipment Financing 26.0% | Wind River Environmental, LLC | Diversified Consumer Services | 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

10.00%

Maturity Date

^[24]

Oct. 05, 2025

Investment, Identifier [Axis]: Equipment Financing 26.0% | Wind River Environmental, LLC | Diversified Consumer Services | 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.43%

Maturity Date

^[24]

Aug. 01, 2024

Investment, Identifier [Axis]: Equipment Financing 26.0% | Womble Company, Inc | Energy Equipment & Services | 9.11% | 12/27/2019 | 1/1/2025

Schedule of Investments [Line Items]

Industry

^[24]

Energy Equipment & Services

Interest Rate

^[24],[29]

9.11%

Acquisition Date

^[24]

Dec. 27, 2019

Maturity Date

^[24]

Jan. 01, 2025

Par Amount

^[24]

$ 210

Cost

^[24]

210

Fair Value

^[24]

$ 206

Investment, Identifier [Axis]: Equipment Financing 26.0% | Worldwide Flight Services, Inc | Transportation Infrastructure | 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028

Schedule of Investments [Line Items]

Industry

^[24]

Transportation Infrastructure

Acquisition Date

^[24]

Sep. 23, 2022

Par Amount

^[24]

$ 3,053

Cost

^[24]

3,097

Fair Value

^[24]

$ 3,053

Investment, Identifier [Axis]: Equipment Financing 26.0% | Worldwide Flight Services, Inc | Transportation Infrastructure | 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.93%

Maturity Date

^[24]

Aug. 16, 2028

Investment, Identifier [Axis]: Equipment Financing 26.0% | Worldwide Flight Services, Inc | Transportation Infrastructure | 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.32%

Maturity Date

^[24]

Sep. 23, 2027

Investment, Identifier [Axis]: Equipment Financing 26.0% | Zamborelli Enterprises Pacific Southern Foundation | Diversified Consumer Services | 8.91% | 12/7/2022 | 1/1/2027

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Interest Rate

^[24],[29]

8.91%

Acquisition Date

^[24]

Dec. 07, 2022

Maturity Date

^[24]

Jan. 01, 2027

Par Amount

^[24]

$ 566

Cost

^[24]

570

Fair Value

^[24]

$ 566

Investment, Identifier [Axis]: Equipment Financing 26.6% | Aero Operating LLC | Commercial Services & Supplies | 8.47-9.64% | 2/12/2021 | 3/1/2025-12/1/2026

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Acquisition Date

^[24]

Feb. 12, 2021

Par Amount

^[24]

$ 1,345

Cost

^[24]

1,343

Fair Value

^[24]

$ 1,343

Investment, Identifier [Axis]: Equipment Financing 26.6% | Aero Operating LLC | Commercial Services & Supplies | 8.47-9.64% | 2/12/2021 | 3/1/2025-12/1/2026 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

9.64%

Maturity Date

^[24]

Nov. 01, 2026

Investment, Identifier [Axis]: Equipment Financing 26.6% | Aero Operating LLC | Commercial Services & Supplies | 8.47-9.64% | 2/12/2021 | 3/1/2025-12/1/2026 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[29]

8.47%

Maturity Date

^[24]

Mar. 01, 2025

Investment, Identifier [Axis]: Equipment Financing- 24.1%| No Limit Construction Services, LLC | Commercial Services & Supplies | 7.73% | 5/5/2023 | 6/1/2028

Schedule of Investments [Line Items]

Industry

^[24]

Commercial Services & Supplies

Interest Rate

^[24],[25]

7.73%

Acquisition Date

^[24]

May 05, 2023

Maturity Date

^[24]

Jun. 01, 2028

Par Amount

^[24]

$ 113

Cost

^[24]

113

Fair Value

^[24]

$ 113

Investment, Identifier [Axis]: EquipmentFinancing - 24.1% | Carolinas Contracting LLC | Diversified Consumer Services | 8.40-8.72%| 3/7/2023 | 3/7/2028-5/18/2028

Schedule of Investments [Line Items]

Industry

^[24]

Diversified Consumer Services

Acquisition Date

^[24]

Mar. 07, 2023

Par Amount

^[24]

$ 3,354

Cost

^[24]

3,383

Fair Value

^[24]

$ 3,354

Investment, Identifier [Axis]: EquipmentFinancing - 24.1% | Carolinas Contracting LLC | Diversified Consumer Services | 8.40-8.72%| 3/7/2023 | 3/7/2028-5/18/2028 | Maximum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.72%

Maturity Date

^[24]

May 18, 2028

Investment, Identifier [Axis]: EquipmentFinancing - 24.1% | Carolinas Contracting LLC | Diversified Consumer Services | 8.40-8.72%| 3/7/2023 | 3/7/2028-5/18/2028 | Minimum [Member]

Schedule of Investments [Line Items]

Interest Rate

^[24],[25]

8.40%

Maturity Date

^[24]

Mar. 07, 2028

Investment, Identifier [Axis]: Erie Construction Mid-west, LLC | Building Products | S+475 | 1.00% | 10.20% | 7/30/27

Schedule of Investments [Line Items]

Spread Above Index

^[1]

475.00%

Interest Rate

10.15%

^[2]

10.20%

^[5]

Cost

$ 8,343

$ 8,457

Fair Value

^[3]

$ 8,343

$ 8,457

Investment, Identifier [Axis]: Exactcare Parent, Inc.| Health Care Providers & Services | S+650 | 1.00% |11.77% | 11/5/29

Schedule of Investments [Line Items]

Spread Above Index

^[1]

650.00%

Interest Rate

^[2]

11.77%

Cost

$ 3,140

Fair Value

^[3]

$ 3,228

Investment, Identifier [Axis]: Fertility (ITC) Investment Holdco, LLC | Health Care Providers and Services | S+650 | 1.00% | 11.97% | 1/3/29

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

650.00%

Interest Rate

^[4]

11.78%

^[2]

11.97%

^[5]

Cost

^[4]

$ 5,783

$ 5,791

Fair Value

^[3],[4]

$ 5,940

$ 5,955

Investment, Identifier [Axis]: Foundation Consumer Brands, LLC | Personal Products | S+625 | 1.00% | 11.79% | 2/12/27

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

Interest Rate

^[4]

11.73%

^[2]

11.79%

^[5]

Cost

^[4]

$ 8,606

$ 8,641

Fair Value

^[3],[4]

$ 8,606

$ 8,641

Investment, Identifier [Axis]: GSM Acquisition Corp | Leisure Equipment and Products | S+500 | 1.00% | 11.13% | 10.47

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

500.00%

Interest Rate

^[4]

10.44%

^[2]

10.47%

^[5]

Cost

^[4]

$ 8,519

$ 8,541

Fair Value

^[3],[4]

$ 8,519

$ 8,541

Investment, Identifier [Axis]: Higginbotham Insurance Agency, Inc | Insurance | S+550 | 1.00% | 10.96% | 11/25/28

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

550.00%

Interest Rate

^[4]

10.93%

^[2]

10.96%

^[5]

Cost

^[4]

$ 7,554

$ 7,573

Fair Value

^[3],[4]

$ 7,554

$ 7,573

Investment, Identifier [Axis]: High Street Buyer, Inc | Insurance | S+575 | 0.75% | 11.25% | 4/16/28

Schedule of Investments [Line Items]

Spread Above Index

^[1]

525.00%

575.00%

Interest Rate

10.56%

^[2]

11.25%

^[5]

Cost

$ 7,585

$ 7,604

Fair Value

^[3]

$ 7,585

$ 7,604

Investment, Identifier [Axis]: Kaseya, Inc | Software | S+600 | 0.75% | 11.38% | 6/23/29

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

600.00%

Interest Rate

^[4]

11.31%

^[2]

11.38%

^[5]

Cost

^[4]

$ 9,115

$ 9,058

Fair Value

^[3],[4]

$ 9,115

$ 9,058

Investment, Identifier [Axis]: Kid Distro Holdings, LLC | Software | S+550 | 1.00% | 11.00% | 10/1/27

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

550.00%

Interest Rate

^[4]

10.96%

^[2]

11.00%

^[5]

Cost

^[4]

$ 8,916

$ 8,939

Fair Value

^[3],[4]

$ 8,916

$ 8,939

Investment, Identifier [Axis]: Legacy Service Partners, LLC | Diversified Consumer Services |S+575 |1.00% |11.21% |1/9/29

Schedule of Investments [Line Items]

Spread Above Index

^[1]

575.00%

Interest Rate

^[2]

11.21%

Cost

$ 1,338

Fair Value

^[3]

$ 1,372

Investment, Identifier [Axis]: Maxor Acquisition, Inc | Health Care Providers and Services| S+675 | 1.00% | 12.48% | 3/1/29

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

675.00%

Interest Rate

^[4]

12.29%

^[2]

12.48%

^[5]

Cost

^[4]

$ 5,931

$ 5,940

Fair Value

^[3],[4]

$ 6,104

$ 6,120

Investment, Identifier [Axis]: Medrina, LLC | Health Care Providers & Services | S+625 | 1.00% | 11.74% | 10/20/29

Schedule of Investments [Line Items]

Spread Above Index

^[1]

625.00%

Interest Rate

^[2]

11.74%

Cost

$ 2,345

Fair Value

^[3]

$ 2,380

Investment, Identifier [Axis]: ONS MSO, LLC | Health Care Providers and Services | S+625 | 1.00% | 11.62% | 7/8/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

Interest Rate

^[4]

11.56%

^[2]

11.62%

^[5]

Cost

^[4]

$ 5,761

$ 5,784

Fair Value

^[3],[4]

$ 5,900

$ 5,922

Investment, Identifier [Axis]: Pinnacle Treatment Centers, Inc | Health Care Providers and Services | S+650 | 1.00% | 11.95% | 1/2/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

650.00%

Interest Rate

^[4]

11.99%

^[2]

11.95%

^[5]

Cost

^[4]

$ 6,933

$ 6,951

Fair Value

^[3],[4]

$ 6,933

$ 6,951

Investment, Identifier [Axis]: Plastics Management, LLC | Health Care Providers and Services | S+500 | 1.00% | 10.45% | 8/18/27

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

500.00%

Interest Rate

^[4]

10.41%

^[2]

10.45%

^[5]

Cost

^[4]

$ 5,466

$ 5,471

Fair Value

^[3],[4]

$ 5,623

$ 5,637

Investment, Identifier [Axis]: Preferred Equity - 0.3% | SOINT LLC | Aerospace & Defense | 5.00% | 6/8/2012 | 6/30/2025

Schedule of Investments [Line Items]

Industry

^{[21],[22],[30]}

Aerospace & Defense

Interest Rate

^{[21],[22],[25],[30],[31]}

5.00%

Acquisition Date

^{[21],[22],[30]}

Jun. 08, 2012

Maturity Date

^{[21],[22],[30]}

Jun. 30, 2025

Par Amount

^{[21],[22],[30]}

$ 0

Cost

^{[21],[22],[30]}

5,241

Fair Value

^{[21],[22],[30]}

$ 2,500

Investment, Identifier [Axis]: Preferred Equity - 0.4% | SOINT LLC | Aerospace & Defense | 5.00% | 6/8/2012 | 6/30/2025

Schedule of Investments [Line Items]

Industry

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

Aerospace & Defense

Interest Rate

^{[10],[13],[29],[30],[31]}

5.00%

Acquisition Date

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

Jun. 08, 2012

Maturity Date

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

Jun. 30, 2025

Par Amount

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

$ 0

Cost

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

5,178

Fair Value

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

$ 3,801

Investment, Identifier [Axis]: RQM+ Corp | Life Sciences Tools and Services | S+575 | 1.00% | 11.36% | 8/12/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

575.00%

Interest Rate

^[4]

11.31%

^[2]

11.36%

^[5]

Cost

^[4]

$ 5,939

$ 5,955

Fair Value

^[3],[4]

$ 5,910

$ 5,955

Investment, Identifier [Axis]: Retina Midco, Inc. | Health Care Providers & Services | S+575 |1.00% |11.33% |1/31/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

575.00%

Interest Rate

^[2],[4]

11.33%

Cost

^[4]

$ 7,334

Fair Value

^[3],[4]

$ 7,332

Investment, Identifier [Axis]: RxSense Holdings LLC | Diversified Consumer Services | S+500 | 1.00% | 10.48% | 3/13/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

500.00%

Interest Rate

^[4]

10.41%

^[2]

10.48%

^[5]

Cost

^[4]

$ 8,945

$ 8,968

Fair Value

^[3],[4]

$ 8,945

$ 8,968

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | 33Across Inc. | Media | P+232 | 8.50% | 10.82% | 1/22/2024 | 10/31/2025

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

232.00%

Floor

8.50%

Interest Rate

^[25]

10.82%

Jan. 22, 2024

Oct. 31, 2025

$ 2,259

2,259

$ 2,259

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Aegis Toxicology Sciences Corporation | Health Care Providers & Services | S+550 | 1.00% | 11.08% | 5/7/2018 | 5/9/2025

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.08%

Acquisition Date

^[32]

May 07, 2018

Maturity Date

^[32]

May 09, 2025

Par Amount

^[32]

$ 13,301

Cost

^[32]

13,159

Fair Value

^[32]

$ 13,301

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Alimera Sciences, Inc. | Pharmaceuticals | S+515 | 4.60 % | 10.47 % |12/31/2019 | 5/1/2028

Schedule of Investments [Line Items]

Industry

^[32]

Pharmaceuticals

Spread Above Index

^[6],[32]

515.00%

Floor

^[32]

4.60%

Interest Rate

^[25],[32]

10.47%

Acquisition Date

^[32]

Dec. 31, 2019

Maturity Date

^[32]

May 01, 2028

Par Amount

^[32]

$ 37,311

Cost

^[32]

37,608

Fair Value

^[32]

$ 40,034

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Alkeme Intermediary Holdings, LLC | Insurance | S+625 | 1.00% | 11.68% | 9/20/2023 | 10/28/2026

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.68%

Acquisition Date

^[32]

Sep. 20, 2023

Maturity Date

^[32]

Oct. 28, 2026

Par Amount

^[32]

$ 9,722

Cost

^[32]

9,468

Fair Value

^[32]

$ 9,722

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | All States Ag Parts, LLC | Trading Companies &Distributors | S+600 | 1.00% | 11.57% | 4/1/2022 | 9/1/2026

Schedule of Investments [Line Items]

Industry

^[32]

Trading Companies & Distributors

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.57%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Sep. 01, 2026

Par Amount

^[32]

$ 2,161

Cost

^[32]

2,136

Fair Value

^[32]

$ 2,161

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Arcutis Biotherapeutics, Inc. | Pharamceuticals |S+745 | 0.10 % | 12.87 % | 12/22/2021 | 1/1/2027

Schedule of Investments [Line Items]

Industry

^[22]

Pharamceuticals

Spread Above Index

^[6],[22]

745.00%

Floor

^[22]

0.10%

Interest Rate

^[22],[25]

12.87%

Acquisition Date

^[22]

Dec. 22, 2021

Maturity Date

^[22]

Jan. 01, 2027

Par Amount

^[22]

$ 66,849

Cost

^[22]

68,443

Fair Value

^[22]

$ 70,302

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Ardelyx, Inc. | Pharmaceuticals | S+425 | 4.70 % | 9.59 % | 2/23/2022 |3/1/2027

Schedule of Investments [Line Items]

Industry

^[22]

Pharmaceuticals

Spread Above Index

^[6],[22]

425.00%

Floor

^[22]

4.70%

Interest Rate

^{[22],[25],[33]}

9.59%

Acquisition Date

^[22]

Feb. 23, 2022

Maturity Date

^[22]

Mar. 01, 2027

Par Amount

^[22]

$ 33,102

Cost

^[22]

33,184

Fair Value

^[22]

$ 33,822

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Atria Wealth Solutions,Inc. | Diversified Financial Services | S+650 | 1.00% | 12.06% | 9/14/2018 | 5/31/2024

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Financial Services

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

12.06%

Acquisition Date

^[32]

Sep. 14, 2018

Maturity Date

^[32]

May 31, 2024

Par Amount

^[32]

$ 16,197

Cost

^[32]

16,164

Fair Value

^[32]

$ 16,197

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | BDG Media, Inc. | Media | P+525 | 5.50% | 13.75% | 7/18/2022 | 7/31/2025

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

525.00%

Floor

5.50%

Interest Rate

^[25]

13.75%

Jul. 18, 2022

Jul. 31, 2025

$ 3,524

3,524

$ 3,524

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Basic Fun, Inc. | Specialty Retail | S+650 | 1.00% | 12.10% | 10/30/2020 | 7/2/2024

Schedule of Investments [Line Items]

Industry

^[32]

Specialty Retail

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

12.10%

Acquisition Date

^[32]

Oct. 30, 2020

Maturity Date

^[32]

Jul. 02, 2024

Par Amount

^[32]

$ 2,150

Cost

^[32]

2,147

Fair Value

^[32]

$ 2,150

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Bay Mark Health Services, Inc. | Health Care Providers &Services | S+500 | 1.00% | 10.57% | 4/1/2022 | 6/11/2027

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

500.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.57%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Jun. 11, 2027

Par Amount

^[32]

$ 8,244

Cost

^[32]

8,012

Fair Value

^[32]

$ 8,244

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Bayside Opco, LLC | Healthcare Providers & Services | S+725 | 1.00% | 12.70% | 5/31/2023 | 5/31/2026

Schedule of Investments [Line Items]

Industry

^[20]

Healthcare Providers & Services

Spread Above Index

^{[6],[20],[31]}

725.00%

Floor

^[20]

1.00%

Interest Rate

^[20],[25]

12.70%

Acquisition Date

^[20]

May 31, 2023

Maturity Date

^[20]

May 31, 2026

Par Amount

^[20]

$ 20,040

Cost

^[20]

20,040

Fair Value

^[20]

$ 20,040

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Bayside Parent, LLC | Healthcare Providers & Services | S+1000 | 1.00% | 15.45% | 5/31/2023 | 5/31/2026

Schedule of Investments [Line Items]

Industry

^[20]

Healthcare Providers & Services

Spread Above Index

^{[6],[20],[31]}

1000.00%

Floor

^[20]

1.00%

Interest Rate

^[20],[25]

15.45%

Acquisition Date

^[20]

May 31, 2023

Maturity Date

^[20]

May 31, 2026

Par Amount

^[20]

$ 5,355

Cost

^[20]

5,355

Fair Value

^[20]

$ 5,355

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Brainjolt LLC | Media | P+425 | 3.25% | 12.75% | 1/22/2024 | 1/22/2025

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

425.00%

Floor

3.25%

Interest Rate

^[25]

12.75%

Jan. 22, 2024

Jan. 22, 2025

$ 1,295

1,295

$ 1,295

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | CC SAG Holdings Corp. (Spectrum Automotive) | Diversified Consumer Services | S+575 | 0.75% | 11.19% | 6/29/2021 | 6/29/2028

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Consumer Services

Spread Above Index

^[6],[32]

575.00%

Floor

^[32]

0.75%

Interest Rate

^[25],[32]

11.19%

Acquisition Date

^[32]

Jun. 29, 2021

Maturity Date

^[32]

Jun. 29, 2028

Par Amount

^[32]

$ 30,433

Cost

^[32]

29,976

Fair Value

^[32]

$ 30,433

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | CVAUSA Management, LLC | Health Care Providers & Services | S+650 | 1.00% | 11.74% | 5/22/2023 | 5/22/2029

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.74%

Acquisition Date

^[32]

May 22, 2023

Maturity Date

^[32]

May 22, 2029

Par Amount

^[32]

$ 17,322

Cost

^[32]

16,847

Fair Value

^[32]

$ 17,322

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Cerapedics, Inc. | Biotechnology | S+620 | 2.75 % | 11.52 % | 12/27/2022 | 1/1/2028

Schedule of Investments [Line Items]

Industry

Biotechnology

Spread Above Index

^[6]

620.00%

Floor

2.75%

Interest Rate

^[25]

11.52%

Dec. 27, 2022

Jan. 01, 2028

$ 36,156

36,319

$ 37,569

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Copper River Seafoods, Inc. | Food Products | P+275 | -% | 11.25% | 12/1/2023 | 4/23/2025

Schedule of Investments [Line Items]

Industry

Food Products

Spread Above Index

^[6]

275.00%

Floor

0.00%

Interest Rate

^[25]

11.25%

Dec. 01, 2023

Apr. 23, 2025

$ 2,543

2,543

$ 2,543

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Crewline Buyer, Inc. | IT Services | S+675 | 1.00% | 12.06% | 11/8/2023 | 11/8/2030

Schedule of Investments [Line Items]

Industry

IT Services

Spread Above Index

^[6]

675.00%

Floor

1.00%

Interest Rate

^[25]

12.06%

Nov. 08, 2023

Nov. 08, 2030

$ 5,084

4,961

$ 4,957

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | DeepIntent, Inc. | Media | P+225 | -% | 10.75% | 12/1/2023 | 6/30/2026

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

225.00%

Floor

0.00%

Interest Rate

^[25]

10.75%

Dec. 01, 2023

Jun. 30, 2026

$ 23,115

23,115

$ 23,115

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | ENS Holdings III Corp. & ES Opco USA LLC (Bluefin) | Trading Companies & Distributors | S+475 | 1.00% | 10.15% | 4/1/2022 | 12/31/2025

Schedule of Investments [Line Items]

Industry

^[32]

Trading Companies & Distributors

Spread Above Index

^[6],[32]

475.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.15%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Dec. 31, 2025

Par Amount

^[32]

$ 4,725

Cost

^[32]

4,631

Fair Value

^[32]

$ 4,725

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Enhanced Permanent Capital, LLC | Capital Markets | S+700 | 1.00% | 12.46% | 12/29/2020 | 12/29/2025

Schedule of Investments [Line Items]

Industry

^[22]

Capital Markets

Spread Above Index

^[6],[22]

700.00%

Floor

^[22]

1.00%

Interest Rate

^[22],[25]

12.46%

Acquisition Date

^[22]

Dec. 29, 2020

Maturity Date

^[22]

Dec. 29, 2025

Par Amount

^[22]

$ 42,521

Cost

^[22]

41,940

Fair Value

^[22]

$ 42,521

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Fertility (ITC) Investment Holdco, LLC | Health Care Providers & Services | S+650 | 1.00% | 11.78% | 1/4/2023 | 1/3/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[25]

11.78%

Jan. 04, 2023

Jan. 03, 2029

$ 22,539

21,967

$ 22,539

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Foundation Consumer Brands, LLC | Personal Products | S+625 | 1.00% | 11.73% | 2/12/2021 | 2/12/2027

Schedule of Investments [Line Items]

Industry

^[32]

Personal Products

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.73%

Acquisition Date

^[32]

Feb. 12, 2021

Maturity Date

^[32]

Feb. 12, 2027

Par Amount

^[32]

$ 26,619

Cost

^[32]

26,114

Fair Value

^[32]

$ 26,619

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | GSM Acquisition Corp. | Leisure Equipment & Products | S+500 | 1.00% | 10.44% | 4/1/2022 | 11/16/2026

Schedule of Investments [Line Items]

Industry

Leisure Equipment & Products

Spread Above Index

^[6]

500.00%

Floor

1.00%

Interest Rate

^[25]

10.44%

Apr. 01, 2022

Nov. 16, 2026

$ 2,365

2,297

$ 2,365

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Higginbotham Insurance Agency, Inc. | Insurance | S+550 | 1.00% | 10.93% | 4/1/2022 | 11/25/2028

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.93%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Nov. 25, 2028

Par Amount

^[32]

$ 21,156

Cost

^[32]

21,156

Fair Value

^[32]

$ 21,156

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Human Interest Inc. | Internet Software & Services | S+785 | 1.00% | 13.18% | 6/30/2022 | 7/1/2027

Schedule of Investments [Line Items]

Industry

Internet Software & Services

Spread Above Index

^[6]

785.00%

Floor

1.00%

Interest Rate

^[25]

13.18%

Jun. 30, 2022

Jul. 01, 2027

$ 20,104

19,983

$ 20,104

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Kaseya, Inc. | Software | S+600 | 0.75% | 10.81% | 6/22/2022 | 6/23/2029

Schedule of Investments [Line Items]

Industry

^[32]

Software

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

0.75%

Interest Rate

^{[25],[32],[34]}

10.81%

Acquisition Date

^[32]

Jun. 22, 2022

Maturity Date

^[32]

Jun. 23, 2029

Par Amount

^[32]

$ 24,670

Cost

^[32]

24,378

Fair Value

^[32]

$ 24,670

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Kid Distro Holdings, LLC (Distro Kid) | Software | S+550 | 1.00% | 10.96% | 9/24/2021 | 10/1/202

Schedule of Investments [Line Items]

Industry

^[32]

Software

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.96%

Acquisition Date

^[32]

Sep. 24, 2021

Maturity Date

^[32]

Oct. 01, 2027

Par Amount

^[32]

$ 20,155

Cost

^[32]

19,899

Fair Value

^[32]

$ 20,155

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Kingsbridge Holdings, LLC | Multi-Sector Holdings | S+700 | 1.00% | 12.49% | 12/21/2018 | 12/21/2024

Schedule of Investments [Line Items]

Industry

^[21]

Multi-Sector Holdings

Spread Above Index

^[6],[21]

700.00%

Floor

^[21]

1.00%

Interest Rate

^[21],[25]

12.49%

Acquisition Date

^[21]

Dec. 21, 2018

Maturity Date

^[21]

Dec. 21, 2024

Par Amount

^[21]

$ 96,000

Cost

^[21]

95,922

Fair Value

^[21]

$ 96,000

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Logix Holding Company, LLC | Communications Equipment | P+475 | 1.00% | 13.25% | 9/14/2018 | 12/22/2024

Schedule of Investments [Line Items]

Industry

^[32]

Communications Equipment

Spread Above Index

^[6],[32]

475.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

13.25%

Acquisition Date

^[32]

Sep. 14, 2018

Maturity Date

^[32]

Dec. 22, 2024

Par Amount

^[32]

$ 14,009

Cost

^[32]

13,711

Fair Value

^[32]

$ 14,009

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Luxury Asset Capital, LLC | Thrifts & Mortgage Finance | S+675 | 1.00% | 12.19% | 7/15/2022 | 7/15/2027

Schedule of Investments [Line Items]

Industry

^[32]

Thrifts & Mortgage Finance

Spread Above Index

^[6],[32]

675.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

12.19%

Acquisition Date

^[32]

Jul. 15, 2022

Maturity Date

^[32]

Jul. 15, 2027

Par Amount

^[32]

$ 30,500

Cost

^[32]

30,061

Fair Value

^[32]

$ 30,500

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Maxor Acquisition, Inc. | Health Care Providers & Services | S+675 | 1.00% | 12.29% | 3/1/2023 | 3/1/2029

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

675.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

12.29%

Acquisition Date

^[32]

Mar. 01, 2023

Maturity Date

^[32]

Mar. 01, 2029

Par Amount

^[32]

$ 17,559

Cost

^[32]

17,101

Fair Value

^[32]

$ 17,559

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Meditrina, Inc. | Health Care Equipment & Supplies | S+550 | 3.45 % | 10.82 % |12/20/2022 |12/1/2027

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[6]

550.00%

Floor

3.45%

Interest Rate

^[25]

10.82%

Dec. 20, 2022

Dec. 01, 2027

$ 3,367

3,390

$ 3,410

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | NSPC Intermediate Corp. (National Spine) | Health Care Providers & Services | S+800 | 1.00% | 13.46% | 4/1/2022 | 2/13/2026

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6],[31]

800.00%

Floor

1.00%

Interest Rate

^[25]

13.46%

Apr. 01, 2022

Feb. 13, 2026

$ 2,460

2,394

$ 2,460

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Neuronetics, Inc. | Health Care Equipment & Supplies | S+565 | 3.95 % | 10.97 % |3/2/2020 |3/29/2028

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Equipment & Supplies

Spread Above Index

^[6],[32]

565.00%

Floor

^[32]

3.95%

Interest Rate

^[25],[32]

10.97%

Acquisition Date

^[32]

Mar. 02, 2020

Maturity Date

^[32]

Mar. 29, 2028

Par Amount

^[32]

$ 30,878

Cost

^[32]

31,006

Fair Value

^[32]

$ 32,575

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | ONS MSO, LLC | Health Care Providers & Services | S+625 | 1.00% | 11.56% | 2/10/2023 | 7/8/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.56%

Acquisition Date

^[32]

Feb. 10, 2023

Maturity Date

^[32]

Jul. 08, 2026

Par Amount

^[32]

$ 28,046

Cost

^[32]

27,390

Fair Value

^[32]

$ 28,046

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | OmniGuide Holdings, Inc. | Health Care Equipment & Supplies | S+580 | 5.31 % | 11.22 % |7/30/2018 |11/1/2025

Schedule of Investments [Line Items]

Industry

^[35]

Health Care Equipment & Supplies

Spread Above Index

^[6],[35]

580.00%

Floor

^[35]

5.31%

Interest Rate

^[25],[35]

11.22%

Acquisition Date

^[35]

Jul. 30, 2018

Maturity Date

^[35]

Nov. 01, 2025

Par Amount

^[35]

$ 24,500

Cost

^[35]

25,156

Fair Value

^[35]

$ 24,623

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | One Touch Direct, LLC | Commercial Services & Supplies | P+75 | -% | 9.25% | 12/1/2023 | 3/31/2025

Schedule of Investments [Line Items]

Industry

Commercial Services & Supplies

Spread Above Index

^[6]

75.00%

Floor

0.00%

Interest Rate

^[25]

9.25%

Dec. 01, 2023

Mar. 31, 2025

$ 2,297

2,297

$ 2,297

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Orthopedic Care Partners Management, LLC | Health Care Providers & Services | S+650 | 1.00% | 12.06% | 8/17/2022 | 5/16/2024

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[25]

12.06%

Aug. 17, 2022

May 16, 2024

$ 19,587

19,491

$ 19,587

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Outset Medical, Inc. | Health Care Equipment & Supplies | S+515 | 2.75 % | 10.47 % |11/3/2022 |11/1/2027

Schedule of Investments [Line Items]

Industry

^[22],[32]

Health Care Equipment & Supplies

Spread Above Index

^{[6],[22],[32]}

515.00%

Floor

^[22],[32]

2.75%

Interest Rate

^{[22],[25],[32]}

10.47%

Acquisition Date

^[22],[32]

Nov. 03, 2022

Maturity Date

^[22],[32]

Nov. 01, 2027

Par Amount

^[22],[32]

$ 44,727

Cost

^[22],[32]

44,965

Fair Value

^[22],[32]

$ 44,392

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Peter C. Foy & Associates Insurance Services, LLC | Insurance | S+600 | 0.75% | 11.44% | 4/1/2022 | 11/1/2028

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

0.75%

Interest Rate

^[25],[32]

11.44%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Nov. 01, 2028

Par Amount

^[32]

$ 16,834

Cost

^[32]

16,604

Fair Value

^[32]

$ 16,834

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Pinnacle Treatment Centers, Inc. | Health Care Providers & Services | S+650 | 1.00% | 11.93% | 1/22/2020 | 1/2/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.93%

Acquisition Date

^[32]

Jan. 22, 2020

Maturity Date

^[32]

Jan. 02, 2026

Par Amount

^[32]

$ 22,634

Cost

^[32]

22,385

Fair Value

^[32]

$ 22,634

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Plastics Management, LLC | Health Care Providers & Services | S+500 | 1.00% | 10.41% | 4/1/2022 | 8/18/2027

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

500.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.41%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Aug. 18, 2027

Par Amount

^[32]

$ 17,096

Cost

^[32]

16,482

Fair Value

^[32]

$ 17,096

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | RQM+ Corp. | Life Sciences Tools & Services | S+575 | 1.00% | 11.31% | 8/20/2021 | 8/12/2026

Schedule of Investments [Line Items]

Industry

^[32]

Life Sciences Tools & Services

Spread Above Index

^[6],[32]

575.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.31%

Acquisition Date

^[32]

Aug. 20, 2021

Maturity Date

^[32]

Aug. 12, 2026

Par Amount

^[32]

$ 23,576

Cost

^[32]

23,294

Fair Value

^[32]

$ 23,458

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Retina Midco, Inc. | Health Care Providers & Services | S+575 | 1.00% | 11.33% | 12/18/2023 | 1/31/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

575.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.33%

Acquisition Date

^[32]

Dec. 18, 2023

Maturity Date

^[32]

Jan. 31, 2026

Par Amount

^[32]

$ 20,594

Cost

^[32]

20,232

Fair Value

^[32]

$ 20,183

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | RxSense Holdings LLC | Diversified Consumer Services | S+500 | 1.00% | 10.41% | 4/1/2022 | 3/13/2026

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Consumer Services

Spread Above Index

^[6],[32]

500.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.41%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Mar. 13, 2026

Par Amount

^[32]

$ 2,649

Cost

^[32]

2,575

Fair Value

^[32]

$ 2,649

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | SCP Eye Care, LLC | Health Care Providers & Services | S+575 | 1.00% | 11.17% | 10/6/2022 | 10/5/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

575.00%

Floor

1.00%

Interest Rate

^[25]

11.17%

Oct. 06, 2022

Oct. 05, 2029

$ 9,992

9,715

$ 9,992

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | SHO Holding I Corporation (Shoes for Crews) | Footwear | S+523 | 1.00% | -% | 4/1/2022 | 4/27/2024

Schedule of Investments [Line Items]

Industry

^[32],[36]

Footwear

Spread Above Index

^{[6],[32],[36]}

523.00%

Floor

^[32],[36]

1.00%

Interest Rate

^{[25],[32],[36]}

0.00%

Acquisition Date

^[32],[36]

Apr. 01, 2022

Maturity Date

^[32],[36]

Apr. 27, 2024

Par Amount

^[32],[36]

$ 5,716

Cost

^[32],[36]

5,555

Fair Value

^[32],[36]

$ 4,859

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | SPAR Marketing Force, Inc. | Media | P+190 | 10.40% | 12/1/2023 | 10/10/2024

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

190.00%

Floor

0.00%

Interest Rate

^[25]

10.40%

Dec. 01, 2023

Oct. 10, 2024

$ 8,866

8,866

$ 8,866

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | SPR Therapeutics, Inc.| Health Care Technology | S+515 | 4.00 % | 10.47 % |1/30/2024 |2/1/2029

Schedule of Investments [Line Items]

Industry

Health Care Technology

Spread Above Index

^[6]

515.00%

Floor

4.00%

Interest Rate

^[25]

10.47%

Jan. 30, 2024

Feb. 01, 2029

$ 4,866

4,837

$ 4,830

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Sightly Enterprises, Inc. | Media | P+575 | 6.00% | 14.25% | 1/22/2024 | 12/31/2024

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

575.00%

Floor

6.00%

Interest Rate

^[25]

14.25%

Jan. 22, 2024

Dec. 31, 2024

$ 4,525

4,525

$ 4,525

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Southern Orthodontic Partners Management, LLC | Health Care Providers & Services | S+600 | 1.00% | 11.44% | 6/3/2022 | 1/27/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.44%

Acquisition Date

^[32]

Jun. 03, 2022

Maturity Date

^[32]

Jan. 27, 2026

Par Amount

^[32]

$ 20,480

Cost

^[32]

20,167

Fair Value

^[32]

$ 20,480

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Stryten Resources LLC | Auto Parts & Equipment | S+800 |1.00% | 13.47% | 8/11/2021 | 10/12/2026

Schedule of Investments [Line Items]

Industry

Auto Parts & Equipment

Spread Above Index

^[6]

800.00%

Floor

1.00%

Interest Rate

^[25]

13.47%

Aug. 11, 2021

Oct. 12, 2026

$ 25,594

25,301

$ 25,594

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | SunMed Group Holdings, LLC | Health Care Equipment & Supplies | S+550 | 0.75% | 10.91% | 6/16/2021 | 6/16/2028

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Equipment & Supplies

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

0.75%

Interest Rate

^[25],[32]

10.91%

Acquisition Date

^[32]

Jun. 16, 2021

Maturity Date

^[32]

Jun. 16, 2028

Par Amount

^[32]

$ 14,943

Cost

^[32]

14,653

Fair Value

^[32]

$ 14,943

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | TAUC Management, LLC | Health Care Providers & Services | P+450 | 1.00% | 15.00% | 4/1/2022 | 2/12/2027

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

450.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

15.00%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Feb. 12, 2027

Par Amount

^[32]

$ 6,889

Cost

^[32]

6,662

Fair Value

^[32]

$ 6,200

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | The Townsend Company, LLC | Commercial Services & Supplies | S+625 | 1.00% | 11.58% | 8/17/2023 | 8/15/2029

Schedule of Investments [Line Items]

Industry

^[32]

Commercial Services & Supplies

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.58%

Acquisition Date

^[32]

Aug. 17, 2023

Maturity Date

^[32]

Aug. 15, 2029

Par Amount

^[32]

$ 10,213

Cost

^[32]

9,976

Fair Value

^[32]

$ 10,213

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Tilley Distribution, Inc. | Trading Companies & Distributors | S+600 | 1.00% | 11.45% | 4/1/2022 | 12/31/2026

Schedule of Investments [Line Items]

Industry

^[32]

Trading Companies & Distributors

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.45%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Dec. 31, 2026

Par Amount

^[32]

$ 3,763

Cost

^[32]

3,631

Fair Value

^[32]

3,763

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Total Senior Secured Loans |

Schedule of Investments [Line Items]

Cost

1,250,672

Fair Value

$ 1,263,015

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | UVP Management, LLC | Health Care Providers & Services | S+625 |1.00% |11.71% | 9/18/2023 | 9/15/2025

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

625.00%

Floor

1.00%

Interest Rate

^[25]

11.71%

Sep. 18, 2023

Sep. 15, 2025

$ 13,757

13,489

$ 13,619

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Ultimate Baked Goods Midco LLC (Rise Baking) | Packaged Foods & Meats | S+625 | 1.00% | 10.93% | 8/12/2021 | 8/13/2027

Schedule of Investments [Line Items]

Industry

^[32]

Packaged Foods & Meats

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

10.93%

Acquisition Date

^[32]

Aug. 12, 2021

Maturity Date

^[32]

Aug. 13, 2027

Par Amount

^[32]

$ 26,292

Cost

^[32]

25,779

Fair Value

^[32]

$ 26,292

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | United Digestive MSO Parent, LLC | Health Care Providers & Services | S+675 | 1.00% | 12.07% | 3/30/2023 | 3/30/2029

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

675.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

12.07%

Acquisition Date

^[32]

Mar. 30, 2023

Maturity Date

^[32]

Mar. 30, 2029

Par Amount

^[32]

$ 10,152

Cost

^[32]

9,883

Fair Value

^[32]

$ 10,152

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Urology Management Holdings, Inc. | Health Care Providers & Services | S+625 | 1.00% | 11.66% | 2/7/2023 | 6/15/2026

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

625.00%

Floor

1.00%

Interest Rate

^[25]

11.66%

Feb. 07, 2023

Jun. 15, 2026

$ 9,182

8,980

$ 9,182

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Vapotherm, Inc. | Health Care Equipment & Supplies |S+930 | 1.00 % | 14.72 % |2/18/2022 |2/1/2027

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[6]

930.00%

Floor

1.00%

Interest Rate

^[25],[37]

14.72%

Feb. 18, 2022

Feb. 01, 2027

$ 39,223

39,824

$ 39,811

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Vessco Midco Holdings, LLC | Water Utilities | P+350 | 1.00% | 12.00% | 4/1/2022 | 11/2/2026

Schedule of Investments [Line Items]

Industry

Water Utilities

Spread Above Index

^[6]

350.00%

Floor

1.00%

Interest Rate

^[25]

12.00%

Apr. 01, 2022

Nov. 02, 2026

$ 7

$ 7

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | West-NR Parent, Inc. | Insurance | S+625 | 1.00% | 11.65% | 8/1/2023 | 12/27/2027

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.65%

Acquisition Date

^[32]

Aug. 01, 2023

Maturity Date

^[32]

Dec. 27, 2027

Par Amount

^[32]

$ 8,992

Cost

^[32]

8,834

Fair Value

^[32]

$ 8,992

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Western Veterinary Partners LLC | Diversified Consumer Services | S+600 | 1.00% | 11.56% | 1/19/2024 | 10/29/2026

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Consumer Services

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

1.00%

Interest Rate

^[25],[32]

11.56%

Acquisition Date

^[32]

Jan. 19, 2024

Maturity Date

^[32]

Oct. 29, 2026

Par Amount

^[32]

$ 9,808

Cost

^[32]

9,670

Fair Value

^[32]

$ 9,661

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | iCIMS, Inc. | Internet Software | S+725 | 0.75% | 12.05% | 8/18/2022 | 8/18/2028

Schedule of Investments [Line Items]

Industry

Software

Spread Above Index

^[6]

725.00%

Floor

0.75%

Interest Rate

^[25],[38]

12.05%

Aug. 18, 2022

Aug. 18, 2028

$ 30,897

30,498

30,897

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans |Total First Lien Life Science Senior Secured Loans |

Schedule of Investments [Line Items]

Cost

331,354

Fair Value

$ 338,036

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans |Vertos Medical, Inc. | Health Care Equipment & Supplies | S+515 |4.75 % | 10.47 % |6/14/2023 |7/1/2028

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[6]

515.00%

Floor

4.75%

Interest Rate

^[25]

10.47%

Jun. 14, 2023

Jul. 01, 2028

$ 6,651

6,622

6,668

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Second Lien Asset-Based Senior Secured Loans

Schedule of Investments [Line Items]

Cost

37,525

Fair Value

$ 38,131

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Second Lien Asset-Based Senior Secured Loans | AMF Levered II, LLC | Diversified Financial Services | S+705 | 1.00% | 12.49% | 12/24/2021 | 8/21/2028

Schedule of Investments [Line Items]

Industry

Diversified Financial Services

Spread Above Index

^[6]

705.00%

Floor

1.00%

Interest Rate

^[25]

12.49%

Dec. 24, 2021

Aug. 21, 2028

$ 29,925

29,494

$ 29,925

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Second Lien Asset-Based Senior Secured Loans | FGI Worldwide LLC | Diversified Financial Services | S+650 | 1.00% | 11.83% | 4/17/2023 | 4/17/2028

Schedule of Investments [Line Items]

Industry

Diversified Financial Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[25]

11.83%

Apr. 17, 2023

Apr. 17, 2028

$ 8,206

8,031

$ 8,206

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Second Lien Bank Debt/Senior Secured Loans | RD Holdco, Inc. | Diversified Consumer Services | S+975 | 1.00% | 12/23/2013 | 10/12/2026

Schedule of Investments [Line Items]

Industry

^[21],[36]

Diversified Consumer Services

Spread Above Index

^{[6],[21],[31],[36]}

975.00%

Floor

^[21],[36]

1.00%

Interest Rate

^{[21],[25],[36]}

0.00%

Acquisition Date

^[21],[36]

Dec. 23, 2013

Maturity Date

^[21],[36]

Oct. 12, 2026

Par Amount

^[21],[36]

$ 16,267

Cost

^[21],[36]

12,297

Fair Value

^[21],[36]

7,827

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Total First Lien Bank Debt/Senior Secured Loans

Schedule of Investments [Line Items]

Cost

869,496

Fair Value

$ 879,021

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Accession Risk Management Group, Inc. (f/k/a RSC Acquisition, Inc.)| Insurance | S+550 | 0.75% | 11.00% | 4/1/2022 | 11/1/2029

Schedule of Investments [Line Items]

Industry

Insurance

Spread Above Index

^[6]

550.00%

Floor

0.75%

Interest Rate

^[29]

11.00%

Apr. 01, 2022

Nov. 01, 2029

$ 6,958

6,932

$ 6,932

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Aegis Toxicology Sciences Corporation | Health Care Providers & Services | S+550 | 1.00% | 11.13% | 5/7/2018 | 5/9/2025

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.13%

Acquisition Date

^[32]

May 07, 2018

Maturity Date

^[32]

May 09, 2025

Par Amount

^[32]

$ 13,360

Cost

^[32]

13,188

Fair Value

^[32]

$ 13,360

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Alkeme Intermediary Holdings, LLC | Insurance | S+650 | 1.00 % | 11.96 % | 9/20/2023 |10/28/2026

Schedule of Investments [Line Items]

Industry

Insurance

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[29]

11.96%

Sep. 20, 2023

Oct. 28, 2026

$ 8,514

8,277

$ 8,514

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | All States Ag Parts, LLC | Trading Companies & Distributors | S+600 | 1.00% | 11.61% | 4/1/2022 | 9/1/2026

Schedule of Investments [Line Items]

Industry

^[32]

Trading Companies & Distributors

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.61%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Sep. 01, 2026

Par Amount

^[32]

$ 2,063

Cost

^[32]

2,036

Fair Value

^[32]

$ 2,063

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Atria Wealth Solutions, Inc.| Diversified Financial Services | S+650 | 1.00% | 11.97% | 9/14/2018 | 5/31/2024

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Financial Services

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.97%

Acquisition Date

^[32]

Sep. 14, 2018

Maturity Date

^[32]

May 31, 2024

Par Amount

^[32]

$ 16,243

Cost

^[32]

16,159

Fair Value

^[32]

$ 16,243

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | BDG Media, Inc. | Media | P+525 | 5.50% | 13.75% | 7/18/2022 | 7/31/2025

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

525.00%

Floor

5.50%

Interest Rate

^[29]

13.75%

Jul. 18, 2022

Jul. 31, 2025

$ 7,854

7,854

$ 7,854

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Basic Fun, Inc. | Specialty Retail | S+650 | 1.00% | 12.14% | 10/30/2020 | 7/2/2024

Schedule of Investments [Line Items]

Industry

^[32]

Specialty Retail

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

12.14%

Acquisition Date

^[32]

Oct. 30, 2020

Maturity Date

^[32]

Jul. 02, 2024

Par Amount

^[32]

$ 2,150

Cost

^[32]

2,145

Fair Value

^[32]

$ 2,150

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | BayMark Health Services, Inc. | Health Care Providers & Services | S+500 | 1.00% | 10.61% | 4/1/2022 | 6/11/2027

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

500.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.61%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Jun. 11, 2027

Par Amount

^[32]

$ 8,265

Cost

^[32]

8,016

Fair Value

^[32]

$ 8,265

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Bayside Opco, LLC | Healthcare Providers & Services | S+725 | 1.00% | 12.75% | 5/31/2023 | 5/31/2026

Schedule of Investments [Line Items]

Industry

^[9]

Healthcare Providers & Services

Spread Above Index

^[6],[9],[31]

725.00%

Floor

^[9]

1.00%

Interest Rate

^[9],[29]

12.75%

Acquisition Date

^[9]

May 31, 2023

Maturity Date

^[9]

May 31, 2026

Par Amount

^[9]

$ 19,415

Cost

^[9]

19,415

Fair Value

^[9]

$ 19,415

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Bayside Parent, LLC | Healthcare Providers & Services | S+1000 | 1.00% | 15.50% | 5/31/2023 | 5/31/2026

Schedule of Investments [Line Items]

Industry

^[9]

Healthcare Providers & Services

Spread Above Index

^[6],[9],[31]

1000.00%

Floor

^[9]

1.00%

Interest Rate

^[9],[29]

15.50%

Acquisition Date

^[9]

May 31, 2023

Maturity Date

^[9]

May 31, 2026

Par Amount

^[9]

$ 5,153

Cost

^[9]

5,153

Fair Value

^[9]

$ 5,153

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | CC SAG Holdings Corp. (Spectrum Automotive) | Diversified Consumer Services | S+575 | 0.75% | 11.22% | 6/29/2021 | 6/29/2028

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Consumer Services

Spread Above Index

^[6],[32]

575.00%

Floor

^[32]

0.75%

Interest Rate

^[29],[32]

11.22%

Acquisition Date

^[32]

Jun. 29, 2021

Maturity Date

^[32]

Jun. 29, 2028

Par Amount

^[32]

$ 30,510

Cost

^[32]

30,031

Fair Value

^[32]

$ 30,510

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | CVAUSA Management, LLC | Health Care Providers & Services | S+650 | 1.00% | 11.74% | 5/22/2023 | 5/22/2029

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.74%

Acquisition Date

^[32]

May 22, 2023

Maturity Date

^[32]

May 22, 2029

Par Amount

^[32]

$ 17,366

Cost

^[32]

16,873

Fair Value

^[32]

$ 17,366

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Copper River Seafoods, Inc.| Food Products | P+275 | - | 11.25% | 12/1/2023 | 4/23/2025

Schedule of Investments [Line Items]

Industry

Food Products

Spread Above Index

^[6]

275.00%

Floor

0.00%

Interest Rate

^[29]

11.25%

Dec. 01, 2023

Apr. 23, 2025

$ 4,949

4,949

$ 4,949

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Crewline Buyer, Inc. | IT Services | S+675 | 1.00% | 12.10% | 11/8/2023 |11/8/2030

Schedule of Investments [Line Items]

Industry

IT Services

Spread Above Index

^[6]

675.00%

Floor

1.00%

Interest Rate

^[29]

12.10%

Nov. 08, 2023

Nov. 08, 2030

$ 5,084

4,958

$ 4,957

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | DeepIntent, Inc. | Media | P+175 | - | 10.25% | 12/1/2023 | 3/25/2025

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

175.00%

Floor

0.00%

Interest Rate

^[29]

10.25%

Dec. 01, 2023

Mar. 25, 2025

$ 21,067

21,067

$ 21,067

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | ENS Holdings III Corp. & ES Opco USA LLC (Bluefin) | Trading Companies & Distributors | S+475 | 1.00% | 10.20% | 4/1/2022 | 12/31/2025

Schedule of Investments [Line Items]

Industry

^[32]

Trading Companies & Distributors

Spread Above Index

^[6],[32]

475.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.20%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Dec. 31, 2025

Par Amount

^[32]

$ 4,505

Cost

^[32]

4,398

Fair Value

^[32]

$ 4,505

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Enhanced Permanent Capital, LLC | Capital Markets | S+700 | 1.00% | 12.44% | 12/29/2020 | 12/29/2025

Schedule of Investments [Line Items]

Industry

^[13]

Capital Markets

Spread Above Index

^[6],[13]

700.00%

Floor

^[13]

1.00%

Interest Rate

^[13],[29]

12.44%

Acquisition Date

^[13]

Dec. 29, 2020

Maturity Date

^[13]

Dec. 29, 2025

Par Amount

^[13]

$ 42,521

Cost

^[13]

41,864

Fair Value

^[13]

$ 42,521

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Exactcare Parent, Inc. | Health Care Providers & Services | S+650 | 1.00% | 11.89% | 11/3/2023 | 11/5/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[29]

11.89%

Nov. 03, 2023

Nov. 05, 2029

$ 3,228

3,140

$ 3,139

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Fertility (ITC) Investment Holdco, LLC | Health Care Providers & Services | S+650 | 1.00% | 11.97% | 1/4/2023 | 1/3/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[29]

11.97%

Jan. 04, 2023

Jan. 03, 2029

$ 22,596

22,000

$ 22,596

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Foundation Consumer Brands, LLC | Personal Products | S+625 | 1.00% | 11.79% | 2/12/2021 | 2/12/2027

Schedule of Investments [Line Items]

Industry

^[32]

Personal Products

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.79%

Acquisition Date

^[32]

Feb. 12, 2021

Maturity Date

^[32]

Feb. 12, 2027

Par Amount

^[32]

$ 26,726

Cost

^[32]

26,181

Fair Value

^[32]

$ 26,726

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | GSM Acquisition Corp. | Leisure Equipment & Products | S+500 | 1.00% | 10.47% | 4/1/2022 | 11/16/2026

Schedule of Investments [Line Items]

Industry

Leisure Equipment & Products

Spread Above Index

^[6]

500.00%

Floor

1.00%

Interest Rate

^[29]

10.47%

Apr. 01, 2022

Nov. 16, 2026

$ 2,371

2,296

$ 2,371

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Higginbotham Insurance Agency, Inc.| Insurance | S+550 | 1.00% | 10.96% | 4/1/2022 | 11/25/2028

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.96%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Nov. 25, 2028

Par Amount

^[32]

$ 21,210

Cost

^[32]

21,210

Fair Value

^[32]

$ 21,210

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Human Interest Inc|Internet Software & Services | S+785 | 1.00% | 13.19% | 6/30/2022 | 7/1/2027

Schedule of Investments [Line Items]

Industry

Internet Software & Services

Spread Above Index

^[6]

785.00%

Floor

1.00%

Interest Rate

^[29]

13.19%

Jun. 30, 2022

Jul. 01, 2027

$ 20,104

19,943

$ 20,104

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Kaseya, Inc. | Software | S+600 | 0.75% | 10.86% | 6/22/2022 | 6/23/2029

Schedule of Investments [Line Items]

Industry

^[32]

Software

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

0.75%

Interest Rate

^{[29],[32],[34]}

10.86%

Acquisition Date

^[32]

Jun. 22, 2022

Maturity Date

^[32]

Jun. 23, 2029

Par Amount

^[32]

$ 24,519

Cost

^[32]

24,215

Fair Value

^[32]

$ 24,519

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Kid Distro Holdings, LLC (Distro Kid) | Software | S+550 | 1.00% | 11.00% | 9/24/2021 | 10/1/2027

Schedule of Investments [Line Items]

Industry

^[32]

Software

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.00%

Acquisition Date

^[32]

Sep. 24, 2021

Maturity Date

^[32]

Oct. 01, 2027

Par Amount

^[32]

$ 20,207

Cost

^[32]

19,934

Fair Value

^[32]

$ 20,207

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Kingsbridge Holdings, LLC | Multi-Sector Holdings | S+700 | 1.00% | 12.52% | 12/21/2018 | 12/21/2024

Schedule of Investments [Line Items]

Industry

^[10]

Multi-Sector Holdings

Spread Above Index

^[6],[10]

700.00%

Floor

^[10]

1.00%

Interest Rate

^[10],[29]

12.52%

Acquisition Date

^[10]

Dec. 21, 2018

Maturity Date

^[10]

Dec. 21, 2024

Par Amount

^[10]

$ 96,000

Cost

^[10]

95,897

Fair Value

^[10]

$ 96,000

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Logix Holding Company, LLC | Communications Equipment | P+475 | 1.00% | 13.25% | 9/14/2018 | 12/22/2024

Schedule of Investments [Line Items]

Industry

^[32]

Communications Equipment

Spread Above Index

^[6],[32]

475.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

13.25%

Acquisition Date

^[32]

Sep. 14, 2018

Maturity Date

^[32]

Dec. 22, 2024

Par Amount

^[32]

$ 14,009

Cost

^[32]

13,613

Fair Value

^[32]

$ 13,729

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Luxury Asset Capital, LLC | Thrifts & Mortgage Finance | S+675 | 1.00% | 12.21% | 7/15/2022 | 7/15/2027

Schedule of Investments [Line Items]

Industry

^[32]

Thrifts & Mortgage Finance

Spread Above Index

^[6],[32]

675.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

12.21%

Acquisition Date

^[32]

Jul. 15, 2022

Maturity Date

^[32]

Jul. 15, 2027

Par Amount

^[32]

$ 30,500

Cost

^[32]

30,032

Fair Value

^[32]

$ 30,500

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Maxor Acquisition, Inc. | Health Care Providers & Services | S+675 | 1.00% | 12.48% | 3/1/2023 | 3/1/2029

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

675.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

12.48%

Acquisition Date

^[32]

Mar. 01, 2023

Maturity Date

^[32]

Mar. 01, 2029

Par Amount

^[32]

$ 17,604

Cost

^[32]

17,128

Fair Value

^[32]

$ 17,604

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Medrina, LLC | Health Care Providers & Services | S+625 | 1.00%| 11.67% | 10/20/2023 | 10/20/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

625.00%

Floor

1.00%

Interest Rate

^[29]

11.67%

Oct. 20, 2023

Oct. 20, 2029

$ 2,410

2,351

$ 2,350

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | NSPC Intermediate Corp. (National Spine) | Health Care Providers & Services | S+800 | 1.00% | 13.53% | 4/1/2022 | 2/13/2026

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

800.00%

Floor

1.00%

Interest Rate

^[29]

13.53%

Apr. 01, 2022

Feb. 13, 2026

$ 2,216

2,143

$ 2,216

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | ONS MSO, LLC | Health Care Providers & Services | S+625 | 1.00% | 11.62% | 2/10/2023 | 7/8/2026

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

625.00%

Floor

1.00%

Interest Rate

^[29]

11.62%

Feb. 10, 2023

Jul. 08, 2026

$ 28,110

27,454

$ 28,110

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | One Touch Direct, LLC. | Commercial Services & Supplies | P+75 | -| 9.25% | 12/1/2023 | 3/31/2025

Schedule of Investments [Line Items]

Industry

Commercial Services & Supplies

Spread Above Index

^[6]

75.00%

Floor

0.00%

Interest Rate

^[29]

9.25%

Dec. 01, 2023

Mar. 31, 2025

$ 4,915

4,915

$ 4,915

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Orthopedic Care Partners Management, LLC | Health Care Providers & Services | S+650 | 1.00% | 12.11% | 8/17/2022 | 5/16/2024

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[29]

12.11%

Aug. 17, 2022

May 16, 2024

$ 5,488

5,470

$ 5,488

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Peter C. Foy & Associates Insurance Services, LLC | Insurance | S+600 | 0.75% | 11.47% | 4/1/2022 | 11/1/2028

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

0.75%

Interest Rate

^[29],[32]

11.47%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Nov. 01, 2028

Par Amount

^[32]

$ 16,877

Cost

^[32]

16,636

Fair Value

^[32]

$ 16,539

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Pinnacle Treatment Centers, Inc. | Health Care Providers & Services | S+650 | 1.00% | 11.86% | 1/22/2020 | 1/2/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

650.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.86%

Acquisition Date

^[32]

Jan. 22, 2020

Maturity Date

^[32]

Jan. 02, 2026

Par Amount

^[32]

$ 22,687

Cost

^[32]

22,405

Fair Value

^[32]

$ 22,687

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Plastics Management, LLC | Health Care Providers & Services | S+500 | 1.00% | 10.45% | 4/1/2022 | 8/18/2027

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

500.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.45%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Aug. 18, 2027

Par Amount

^[32]

$ 17,140

Cost

^[32]

16,488

Fair Value

^[32]

$ 17,140

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | RQM+ Corp. | Life Sciences Tools & Services | S+575 | 1.00% | 11.36% | 8/20/2021 | 8/12/2026

Schedule of Investments [Line Items]

Industry

^[32]

Life Sciences Tools & Services

Spread Above Index

^[6],[32]

575.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.36%

Acquisition Date

^[32]

Aug. 20, 2021

Maturity Date

^[32]

Aug. 12, 2026

Par Amount

^[32]

$ 23,636

Cost

^[32]

23,327

Fair Value

^[32]

$ 23,636

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Retina Midco, Inc. | Health Care Providers & Services | S+575 | 1.00% | 11.38% | 12/18/2023 | 1/31/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

575.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.38%

Acquisition Date

^[32]

Dec. 18, 2023

Maturity Date

^[32]

Jan. 31, 2026

Par Amount

^[32]

$ 28,146

Cost

^[32]

27,592

Fair Value

^[32]

$ 27,583

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | RxSense Holdings LLC | Diversified Consumer Services | S+500 | 1.00% | 10.48% | 4/1/2022 | 3/13/2026

Schedule of Investments [Line Items]

Industry

^[32]

Diversified Consumer Services

Spread Above Index

^[6],[32]

500.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.48%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Mar. 13, 2026

Par Amount

^[32]

$ 2,656

Cost

^[32]

2,573

Fair Value

^[32]

$ 2,656

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | SCP Eye Care, LLC | Health Care Providers & Services | S+575 | 1.00% | 11.17% | 10/6/2022 | 10/5/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

575.00%

Floor

1.00%

Interest Rate

^[29]

11.17%

Oct. 06, 2022

Oct. 05, 2029

$ 10,015

9,728

$ 10,015

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | SHO Holding I Corporation (Shoes for Crews) | Footwear | S+523 | 1.00% | 10.87% | 4/1/2022 | 4/27/2024

Schedule of Investments [Line Items]

Industry

^[32]

Footwear

Spread Above Index

^[6],[32]

523.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.87%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Apr. 27, 2024

Par Amount

^[32]

$ 5,658

Cost

^[32]

5,557

Fair Value

^[32]

$ 5,092

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | SPAR Marketing Force, Inc | Media | P+190 | - | 10.40% | 12/1/2023 | 10/10/2024

Schedule of Investments [Line Items]

Industry

Media

Spread Above Index

^[6]

190.00%

Floor

0.00%

Interest Rate

^[29]

10.40%

Dec. 01, 2023

Oct. 10, 2024

$ 8,461

8,461

8,461

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Second Lien Asset-Based Senior Secured Loans | Total First Lien Bank Debt/Senior Secured Loans

Schedule of Investments [Line Items]

Cost

862,886

Fair Value

$ 872,944

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Southern Orthodontic Partners Management, LLC | Health Care Providers & Services | S+625 | 1.00% | 11.72% | 6/3/2022 | 1/27/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.72%

Acquisition Date

^[32]

Jun. 03, 2022

Maturity Date

^[32]

Jan. 27, 2026

Par Amount

^[32]

$ 15,545

Cost

^[32]

15,300

Fair Value

^[32]

$ 15,545

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Stryten Resources LLC | Auto Parts and Equipment | S+800 | 1.00% | 13.47% | 8/11/2021 | 10/12/2026

Schedule of Investments [Line Items]

Industry

Auto Parts & Equipment

Spread Above Index

^[6]

800.00%

Floor

1.00%

Interest Rate

^[29]

13.47%

Aug. 11, 2021

Oct. 12, 2026

$ 25,659

25,341

$ 26,044

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | SunMed Group Holdings, LLC | Health Care Equipment & Supplies | S+550 | 0.75% | 10.96% | 6/16/2021 | 6/16/2028

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Equipment & Supplies

Spread Above Index

^[6],[32]

550.00%

Floor

^[32]

0.75%

Interest Rate

^[29],[32]

10.96%

Acquisition Date

^[32]

Jun. 16, 2021

Maturity Date

^[32]

Jun. 16, 2028

Par Amount

^[32]

$ 14,982

Cost

^[32]

14,676

Fair Value

^[32]

$ 14,982

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | TAUC Management, LLC | Health Care Providers & Services | P+450 | 1% | 13% | 4/1/2022 | 2/12/2027

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Providers & Services

Spread Above Index

^[6],[32]

450.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

13.00%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Feb. 12, 2027

Par Amount

^[32]

$ 6,891

Cost

^[32]

6,646

Fair Value

^[32]

$ 6,409

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | The Townsend Company, LLC | Commercial Services & Supplies | S+625 | 1% | 11.61% | 8/17/2023 | 8/15/2029

Schedule of Investments [Line Items]

Industry

^[32]

Commercial Services & Supplies

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.61%

Acquisition Date

^[32]

Aug. 17, 2023

Maturity Date

^[32]

Aug. 15, 2029

Par Amount

^[32]

$ 10,276

Cost

^[32]

10,030

Fair Value

^[32]

$ 10,276

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Tilley Distribution, Inc. | Trading Companies & Distributors | S+600 | 1% | 11.5% | 4/1/2022 | 12/31/2026

Schedule of Investments [Line Items]

Industry

^[32]

Trading Companies & Distributors

Spread Above Index

^[6],[32]

600.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.50%

Acquisition Date

^[32]

Apr. 01, 2022

Maturity Date

^[32]

Dec. 31, 2026

Par Amount

^[32]

$ 3,808

Cost

^[32]

3,663

Fair Value

^[32]

$ 3,808

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Ultimate Baked Goods Midco LLC (Rise Baking) | Packaged Foods & Meats | S+625 | 1% | 10.96% | 8/12/2021 | 8/13/2027

Schedule of Investments [Line Items]

Industry

^[32]

Packaged Foods & Meats

Spread Above Index

^[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

10.96%

Acquisition Date

^[32]

Aug. 12, 2021

Maturity Date

^[32]

Aug. 13, 2027

Par Amount

^[32]

$ 26,359

Cost

^[32]

25,811

Fair Value

^[32]

$ 26,095

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | United Digestive MSO Parent, LLC | Health Care Providers & Services | S+675 | 1% | 12.25% | 3/30/2023 | 3/30/2029

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

675.00%

Floor

1.00%

Interest Rate

^[29]

12.25%

Mar. 30, 2023

Mar. 30, 2029

$ 9,812

9,544

$ 9,812

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Urology Management Holdings, Inc | Health Care Providers & Services | S+650 | 1% | 11.93% | 2/7/2023 | 6/15/2026

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[29]

11.93%

Feb. 07, 2023

Jun. 15, 2026

$ 9,205

8,983

$ 9,136

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Vessco Midco Holdings, LLC | Water Utilities | P+350 | 1% | 12% | 4/1/2022 | 11/2/2026

Schedule of Investments [Line Items]

Industry

Water Utilities

Spread Above Index

^[6]

350.00%

Floor

1.00%

Interest Rate

^[29]

12.00%

Apr. 01, 2022

Nov. 02, 2026

$ 15

$ 15

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | WCI-BXC Purchaser, LLC | Distributors | S+625 | 1% | 11.64% | 11/6/2023 | 11/6/2030

Schedule of Investments [Line Items]

Industry

Distributors

Spread Above Index

^[6]

625.00%

Floor

1.00%

Interest Rate

^[29]

11.64%

Nov. 06, 2023

Nov. 06, 2030

$ 2,904

2,833

$ 2,832

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | West-NR Parent, Inc. | Insurance | S+625 | 1% | 11.7% | 8/1/2023 | 12/27/2027

Schedule of Investments [Line Items]

Industry

^[32]

Insurance

Spread Above Index

^[6],[32]

625.00%

Floor

^[32]

1.00%

Interest Rate

^[29],[32]

11.70%

Acquisition Date

^[32]

Aug. 01, 2023

Maturity Date

^[32]

Dec. 27, 2027

Par Amount

^[32]

$ 9,015

Cost

^[32]

8,848

Fair Value

^[32]

$ 9,015

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | iCIMS, Inc.| Software | S+725 | 0.75% | 12.10% | 8/18/2022 | 8/18/2028

Schedule of Investments [Line Items]

Industry

Software

Spread Above Index

^[6]

725.00%

Floor

0.75%

Interest Rate

^[29],[38]

12.10%

Aug. 18, 2022

Aug. 18, 2028

$ 31,059

30,642

$ 31,059

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans |UVP Management, LLC | Health Care Providers & Services | S+625 | 1% | 11.75% | 9/18/2023 | 9/15/2025

Schedule of Investments [Line Items]

Industry

Health Care Providers & Services

Spread Above Index

^[6]

625.00%

Floor

1.00%

Interest Rate

^[29]

11.75%

Sep. 18, 2023

Sep. 15, 2025

$ 16,922

16,550

16,499

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans

Schedule of Investments [Line Items]

Cost

1,268,641

Fair Value

$ 1,277,539

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Alimera Sciences, Inc. | Pharmaceuticals | S+515 | 4.60% | 10.50% | 12/31/2019 | 5/1/2028

Schedule of Investments [Line Items]

Industry

^[32]

Pharmaceuticals

Spread Above Index

^[6],[32]

515.00%

Floor

^[32]

4.60%

Interest Rate

^[29],[32]

10.50%

Acquisition Date

^[32]

Dec. 31, 2019

Maturity Date

^[32]

May 01, 2028

Par Amount

^[32]

$ 34,738

Cost

^[32]

34,945

Fair Value

^[32]

$ 37,274

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Arcutis Biotherapeutics, Inc. | Pharamceuticals | S+745 | 0.10% | 12.90% | 12/22/2021 | 1/1/2027 |

Schedule of Investments [Line Items]

Industry

^[13]

Pharamceuticals

Spread Above Index

^[6],[13]

745.00%

Floor

^[13]

0.10%

Interest Rate

^[13],[29]

12.90%

Acquisition Date

^[13]

Dec. 22, 2021

Maturity Date

^[13]

Jan. 01, 2027

Par Amount

^[13]

$ 66,849

Cost

^[13]

68,169

Fair Value

^[13]

$ 68,186

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Ardelyx, Inc. | Pharmaceuticals | S+795 | 1.00% | 13.32% | 2/23/2022 | 3/1/2027

Schedule of Investments [Line Items]

Industry

^[13]

Pharmaceuticals

Spread Above Index

^[6],[13]

795.00%

Floor

^[13]

1.00%

Interest Rate

^[13],[29]

13.32%

Acquisition Date

^[13]

Feb. 23, 2022

Maturity Date

^[13]

Mar. 01, 2027

Par Amount

^[13]

$ 17,228

Cost

^[13]

17,306

Fair Value

^[13]

$ 17,766

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | BridgeBio Pharma, Inc. | Biotechnology | - | - | 9.00% | 11/17/2021 | 11/17/2026

Schedule of Investments [Line Items]

Industry

^[13]

Biotechnology

Spread Above Index

^[6],[13]

0.00%

Floor

^[13]

0.00%

Interest Rate

^{[13],[29],[39]}

9.00%

Acquisition Date

^[13]

Nov. 17, 2021

Maturity Date

^[13]

Nov. 17, 2026

Par Amount

^[13]

$ 40,753

Cost

^[13]

40,567

Fair Value

^[13]

$ 40,854

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Cerapedics, Inc. | Biotechnology | S+620 | 2.75% | 11.55% | 12/27/2022 | 1/1/2028

Schedule of Investments [Line Items]

Industry

Biotechnology

Spread Above Index

^[6]

620.00%

Floor

2.75%

Interest Rate

^[29]

11.55%

Dec. 27, 2022

Jan. 01, 2028

$ 36,156

36,260

$ 36,156

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Glooko, Inc. | Health Care Technology | S+790 | 0.10% | 13.35% | 9/30/2021 | 10/1/2026

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Technology

Spread Above Index

^[6],[32]

790.00%

Floor

^[32]

0.10%

Interest Rate

^[29],[32]

13.35%

Acquisition Date

^[32]

Sep. 30, 2021

Maturity Date

^[32]

Oct. 01, 2026

Par Amount

^[32]

$ 9,927

Cost

^[32]

10,010

Fair Value

^[32]

$ 10,373

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Meditrina, Inc. | Health Care Equipment & Supplies | S+550 | 3.45% | 10.85% | 12/20/2022 | 12/1/2027

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[6]

550.00%

Floor

3.45%

Interest Rate

^[29]

10.85%

Dec. 20, 2022

Dec. 01, 2027

$ 3,367

3,374

$ 3,401

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Neuronetics, Inc. | Health Care Equipment & Supplies | S+565 | 3.95% | 11.00% | 3/2/2020 | 3/29/2028

Schedule of Investments [Line Items]

Industry

^[32]

Health Care Equipment & Supplies

Spread Above Index

^[6],[32]

565.00%

Floor

^[32]

3.95%

Interest Rate

^[29],[32]

11.00%

Acquisition Date

^[32]

Mar. 02, 2020

Maturity Date

^[32]

Mar. 29, 2028

Par Amount

^[32]

$ 30,878

Cost

^[32]

30,921

Fair Value

^[32]

$ 30,878

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | OmniGuide Holdings, Inc. | Health Care Equipment & Supplies | S+580 | 5.31% | 11.25% | 7/30/2018 | 11/1/2025

Schedule of Investments [Line Items]

Industry

^[35]

Health Care Equipment & Supplies

Spread Above Index

^[6],[35]

580.00%

Floor

^[35]

5.31%

Interest Rate

^[29],[35]

11.25%

Acquisition Date

^[35]

Jul. 30, 2018

Maturity Date

^[35]

Nov. 01, 2025

Par Amount

^[35]

$ 24,500

Cost

^[35]

24,874

Fair Value

^[35]

$ 24,623

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Outset Medical, Inc. | Health Care Equipment & Supplies | S+515 | 2.75% | 10.50% | 11/3/2022 | 11/1/2027

Schedule of Investments [Line Items]

Industry

^[13],[32]

Health Care Equipment & Supplies

Spread Above Index

^{[6],[13],[32]}

515.00%

Floor

^[13],[32]

2.75%

Interest Rate

^{[13],[29],[32]}

10.50%

Acquisition Date

^[13],[32]

Nov. 03, 2022

Maturity Date

^[13],[32]

Nov. 01, 2027

Par Amount

^[13],[32]

$ 44,727

Cost

^[13],[32]

44,837

Fair Value

^[13],[32]

44,839

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Total First Lien Life Science Senior Secured Loans

Schedule of Investments [Line Items]

Cost

355,961

Fair Value

$ 359,236

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Vapotherm, Inc.Health Care Equipment & Supplies | S+930 | 1.00% | 14.75% | 2/18/2022 | 2/1/2027

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[6]

930.00%

Floor

1.00%

Interest Rate

^[29],[37]

14.75%

Feb. 18, 2022

Feb. 01, 2027

$ 37,670

38,094

$ 38,235

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Vertos Medical, Inc. | Health Care Equipment & Supplies | S+515 | 4.75% | 10.50% | 6/14/2023 | 7/1/2028

Schedule of Investments [Line Items]

Industry

Health Care Equipment & Supplies

Spread Above Index

^[6]

515.00%

Floor

4.75%

Interest Rate

^[29]

10.50%

Jun. 14, 2023

Jul. 01, 2028

$ 6,651

6,604

6,651

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | Second Lien Asset-Based Senior Secured Loans

Schedule of Investments [Line Items]

Cost

37,497

Fair Value

$ 37,532

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | Second Lien Asset-Based Senior Secured Loans | AMF Levered II, LLC | Diversified Financial Services | S+705 | 1% | 12.52% | 12/24/2021 | 8/21/2028

Schedule of Investments [Line Items]

Industry

Diversified Financial Services

Spread Above Index

^[6]

705.00%

Floor

1.00%

Interest Rate

^[29]

12.52%

Dec. 24, 2021

Aug. 21, 2028

$ 29,925

29,474

$ 29,326

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | Second Lien Asset-Based Senior Secured Loans | FGI Worldwide LLC | Diversified Financial Services | S+650 | 1% | 11.86% | 4/17/2023 | 4/17/2028

Schedule of Investments [Line Items]

Industry

Diversified Financial Services

Spread Above Index

^[6]

650.00%

Floor

1.00%

Interest Rate

^[29]

11.86%

Apr. 17, 2023

Apr. 17, 2028

$ 8,206

8,023

$ 8,206

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | Second Lien Bank Debt/Senior Secured Loans | RD Holdco, Inc. | Diversified Consumer Services | S+975 | 1% | -% | 12/23/2013 | 10/12/2026

Schedule of Investments [Line Items]

Industry

^[10]

Diversified Consumer Services

Spread Above Index

^{[6],[10],[31]}

975.00%

Floor

^[10]

1.00%

Interest Rate

^[10],[29]

0.00%

Acquisition Date

^[10]

Dec. 23, 2013

Maturity Date

^[10]

Oct. 12, 2026

Par Amount

^[10]

$ 15,654

Cost

^[10]

12,297

Fair Value

^[10]

$ 7,827

Investment, Identifier [Axis]: SunMed Group Holdings, LLC | Health Care Equipment and Supplies | S+550 | 0.75% | 10.96% | 6/16/28

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

550.00%

Interest Rate

^[4]

10.91%

^[2]

10.96%

^[5]

Cost

^[4]

$ 8,925

$ 8,948

Fair Value

^[3],[4]

$ 8,925

$ 8,948

Investment, Identifier [Axis]: The Townsend Company, LLC | Commercial Services and Supplies | S+625 | 1.00% | 11.61% | 8/15/29

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

Interest Rate

^[4]

11.58%

^[2]

11.61%

^[5]

Cost

^[4]

$ 3,536

$ 3,555

Fair Value

^[3],[4]

$ 3,620

$ 3,642

Investment, Identifier [Axis]: Tilley Distribution, Inc | Trading Companies and Distributors | S+600 | 1.00% | 11.50% | 12/31/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

600.00%

Interest Rate

^[4]

11.45%

^[2]

11.50%

^[5]

Cost

^[4]

$ 5,721

$ 5,850

Fair Value

^[3],[4]

$ 5,721

$ 5,850

Investment, Identifier [Axis]: UVP Management, LLC | Health Care Providers & Services | S+625 |1.00% | 11.71% | 9/15/25

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

Interest Rate

^[2],[4]

11.71%

Cost

^[4]

$ 4,786

Fair Value

^[3],[4]

$ 4,846

Investment, Identifier [Axis]: Ultimate Baked Goods Midco LLC | Packaged Foods and Meats | S+625 | 1.00% | 11.71% | 8/13/27

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

Interest Rate

^[4]

11.68%

^[2]

11.71%

^[5]

Cost

^[4]

$ 8,931

$ 8,954

Fair Value

^[3],[4]

$ 8,931

$ 8,865

Investment, Identifier [Axis]: United Digestive MSO Parent, LLC | Health Care Providers and Services | S+675 | 1.00% | 12.25% | 3/30/29

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

675.00%

Interest Rate

^[4]

12.07%

^[2]

12.25%

^[5]

Cost

^[4]

$ 3,428

$ 3,311

Fair Value

^[3],[4]

$ 3,529

$ 3,411

Investment, Identifier [Axis]: Urology Management Holdings, Inc | Health Care Providers and Services | S+650 | 1.00% | 11.93% | 6/15/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

650.00%

Interest Rate

^[4]

11.66%

^[2]

11.93%

^[5]

Cost

^[4]

$ 3,101

$ 3,102

Fair Value

^[3],[4]

$ 3,171

$ 3,155

Investment, Identifier [Axis]: Vessco Midco Holdings, LLC | Water Utilities | S+450 | 1.00% | 9.96% | 11/2/26

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

450.00%

Interest Rate

^[4]

9.75%

^[2]

9.96%

^[5]

Cost

^[4]

$ 4,293

$ 4,304

Fair Value

^[3],[4]

$ 4,293

$ 4,304

Investment, Identifier [Axis]: WCI-BXC Purchaser, LLC | Distributors | S+625 |1.00% |11.54% | 11/6/30

Schedule of Investments [Line Items]

Spread Above Index

^[1]

625.00%

Interest Rate

^[2]

11.54%

Cost

$ 2,826

Fair Value

^[3]

$ 2,897

Investment, Identifier [Axis]: West-NR Parent, Inc | Insurance | S+625 | 1.00% | 11.70% | 12/27/27

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

625.00%

Interest Rate

^[4]

11.65%

^[2]

11.70%

^[5]

Cost

^[4]

$ 6,680

$ 6,691

Fair Value

^[3],[4]

$ 6,805

$ 6,822

Investment, Identifier [Axis]: iCIMS, Inc | Software | S+725 | 0.75% | 12.62% | 8/18/28

Schedule of Investments [Line Items]

Spread Above Index

^[1],[4]

725.00%

Interest Rate

^[4]

12.58%

^[2]

12.62%

^[5]

Cost

^[4]

$ 3,077

$ 3,066

Fair Value

^[3],[4]

$ 3,120

$ 3,089

[1]	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR. These instruments are typically subject to a SOFR floor.
[2]	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 2024.
[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.
[5]	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 2023.
[6]	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR or PRIME rate. These instruments are often subject to a SOFR or PRIME rate floor.
[7]	Denotes a Level 1 investment.
[8]	Non-income producing security.
[9]	Denotes investments in which we are an “Affiliated Person” but do not exercise a controlling influence, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 5% but less than 25% of the outstanding voting securities of the investment. Transactions during the year ended December 31, 2023 (beginning with the date at which the Company became an Affiliated Person) in these affiliated investments are as follows:
[10]	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 year ended December 31, 2023 in these controlled investments are as follows:
[11]	Kingsbridge Holdings, LLC is held through KBH Topco LLC, a Delaware corporation.
[12]	See note 13 to the consolidated financial statements.
[13]	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, 2023, on a fair value basis, non-qualifying assets in the portfolio represented 26.6% of the total assets of the Company.
[14]	See note 15 to the consolidated financial statements.
[15]	See note 11 to the consolidated financial statements.
[16]	See note 14 to the consolidated financial statements.
[17]	See note 17 to the consolidated financial statements.
[18]	Through this entity and other intermediate entities, the Company owns approximately 7.3% of the underlying common units of ASC Holdco, LLC, a joint venture which owns certain assets of the former Amerimark Interactive, LLC.
[19]	Aggregate net unrealized appreciation for U.S. federal income tax purposes is $2,567; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $97,678 and $95,111, respectively, based on a tax cost of $2,152,199. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the Credit Facility (see Note 7 to the consolidated financial statements). 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.
[20]	Denotes investments in which we are an “Affiliated Person” but do not exercise a controlling influence, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 5% but less than 25% of the outstanding voting securities of the investment. Transactions during the three months ended March 31, 2024 in these affiliated investments are as follows:
[21]	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, 2024 in these controlled investments are as follows:
[22]	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, 2024, on a fair value basis, non-qualifying assets in the portfolio represented 24.8% of the total assets of the Company.
[23]	Aggregate net unrealized appreciation for U.S. federal income tax purposes is $6,451; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $105,201 and $98,750, respectively, based on a tax cost of $2,127,487. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the Credit Facility (see Note 7 to the consolidated financial statements). 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.
[24]	Indicates an investment that is wholly held by the Company through NEFPASS LLC.
[25]	Floating rate debt investments typically bear interest at a rate determined by reference to 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, 2024.
[26]	SLR Equipment Finance is held through NEFCORP LLC, a wholly-owned consolidated taxable subsidiary and NEFPASS LLC, a wholly-owned consolidated subsidiary.
[27]	See note 12 to the consolidated financial statements.
[28]	Denotes a subsidiary of SLR Equipment Finance.
[29]	Floating rate debt investments typically bear interest at a rate determined by reference to 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, 2023.
[30]	The Company’s investment in SOINT, LLC includes a one dollar investment in common shares.
[31]	Interest is paid in kind (“PIK”).
[32]	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.
[33]	Certain tranches have a spread of S+795 and certain tranches have a spread of S+425.
[34]	Kaseya, Inc. may elect to defer up to 2.50% of the coupon as PIK.
[35]	OmniGuide Holdings, Inc., Domain Surgical, Inc. and OmniGuide, Inc. are co-borrowers.
[36]	Investment is on non-accrual status.
[37]	Vapotherm, Inc. may elect to defer up to 9.00% of the coupon as PIK.
[38]	iCIMS, Inc. may elect to defer up to 3.875% of the coupon as PIK.
[39]	BridgeBio Pharma, Inc. may elect to defer up to 3.00% of the coupon as PIK.

Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset and Liability (Parenthetical) (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 119,250	$ 120,820
Measurement Input, EBITDA Multiple [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	166,755	161,682
Black Scholes Pricing Model [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	341	525
Senior Secured Loans [Member] \| Income Approach [Member] \| Market Yield [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 1,250,329	$ 1,269,712
Senior Secured Loans [Member] \| Income Approach [Member] \| Market Yield [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	10	10
Senior Secured Loans [Member] \| Income Approach [Member] \| Market Yield [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	20.7	45.5
Senior Secured Loans [Member] \| Income Approach [Member] \| Market Yield [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	13.1	13.2
Equipment Financing [Member] \| Income Approach [Member] \| Market Yield [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 120,089	$ 135,999
Equipment Financing [Member] \| Income Approach [Member] \| Market Yield [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.4	8.5
Equipment Financing [Member] \| Income Approach [Member] \| Market Yield [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.4	9.3
Equipment Financing [Member] \| Income Approach [Member] \| Market Yield [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	9.4	9.3
Equipment Financing [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 119,250	$ 120,820
Equipment Financing [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	1.2	1.2
Equipment Financing [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	1.5	1.5
Equipment Financing [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	1.5	1.4
Preferred Equity [Member] \| Income Approach [Member] \| Market Yield [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 2,500	$ 3,801
Preferred Equity [Member] \| Income Approach [Member] \| Market Yield [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5	5
Preferred Equity [Member] \| Income Approach [Member] \| Market Yield [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5	5
Preferred Equity [Member] \| Income Approach [Member] \| Market Yield [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5	5
Common Equity/Equity Interests/Warrants [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 167,096	$ 162,207
Common Equity/Equity Interests/Warrants [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	5.5	5.5
Common Equity/Equity Interests/Warrants [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	11.3	11.3
Common Equity/Equity Interests/Warrants [Member] \| Market Multiple [Member] \| Comparable Multiple [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	8.7	9.5
Common Equity/Equity Interests/Warrants [Member] \| Market Approach [Member] \| Return on Equity [Member] \| Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 412,470	$ 410,220
Common Equity/Equity Interests/Warrants [Member] \| Market Approach [Member] \| Return on Equity [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	7.1	7.1
Common Equity/Equity Interests/Warrants [Member] \| Market Approach [Member] \| Return on Equity [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	24.9	34.8
Common Equity/Equity Interests/Warrants [Member] \| Market Approach [Member] \| Return on Equity [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long Term Investments Measurement Input	10.5	10.6

Capital Share Transactions

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Capital Share Transactions

Note 10. Capital Share Transactions

As of March 31, 2024 and March 31, 2023, 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, 2024		For the three months ended March 31, 2023			For the three months ended March 31, 2024		For the three months ended March 31, 2023
Shares repurchased		—		(746	)	$	—	$	(10	)

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
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 May 7, 2024, the Board authorized an extension of a program for the purpose of repurchasing up to $50,000 of the Company’s outstanding shares of common stock. Under the repurchase program, the Company may, but is not obligated to, repurchase shares of the Company’s outstanding common stock in the open market from time to time provided that the Company complies with the Company’s 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 further amended or extended by the Board, the Company expects the repurchase program to be in place until the earlier of May 7, 2025 or until $50,000 of the Company’s outstanding shares of common stock have been repurchased. 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 the Company will engage in any repurchases. On May 8, 2024, the Board declared a quarterly distribution of $0.41 per share payable on June 27, 2024 to holders of record as of June 13, 2024.

Financial Highlights

3 Months Ended

Mar. 31, 2024

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, 2024

and

2023


	Three months ended March 31, 2024			Three months ended March 31, 2023
Per Share Data: (a)
Net asset value, beginning of year	$	18.09		$	18.33

Net investment income		0.44			0.41
Net realized and unrealized gain (loss)		0.07			(0.29	)

Net increase in net assets resulting from operations		0.51			0.12
Distributions to stockholders:
From distributable earnings		(0.41	)		(0.41	)
From return of capital		—			(0.00	)

Net asset value, end of period	$	18.19		$	18.04

Per share market value, end of period	$	15.35		$	15.04
Total Return (b)(c)		4.86	%		11.01	%
Net assets, end of period	$	992,143		$	984,178
Shares outstanding, end of period		54,554,634			54,554,634
Ratios to average net assets (c):
Net investment income		2.42	%		2.22	%

Operating expenses		1.63	%*		1.61	%*
Interest and other credit facility expenses		1.84	%		1.53	%

Total expenses		3.47	%*		3.14	%*

Average debt outstanding	$	1,146,997		$	1,075,344
Portfolio turnover ratio		4.7	%		7.0	%

(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, 2023 and December 31, 2022 was $15.03 and $13.91, 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, 2024 and 2023, the ratios of operating expenses to average net assets would be

1.63% and 1.62%,

respectively, without the performance-based incentive fee waiver. For the three months ended March 31, 2024 and 2023, the ratios of total expenses to average net assets would be 3.47% and 3.15%, respectively, without the performance-based incentive fee waiver.

Consolidated Schedule of Investments - Industry Classification	Mar. 31, 2024	Dec. 31, 2023
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	100.00%	100.00%
Diversified Financial Services (includes SLR Credit Solutions, SLR Business Credit and SLR Healthcare ABL) [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	22.20%	21.90%
Multi-Sector Holdings (includes Kingsbridge Holdings, LLC, SLR Equipment Finance, Equipment Operating Leases, LLC and Loyer Capital LLC) [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	17.50%	17.30%
Health Care Providers & Services [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	13.50%	13.20%
Health Care Equipment & Supplies [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	7.80%	7.60%
Pharmaceuticals [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	6.80%	5.70%
Software [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	3.60%	3.50%
Diversified Consumer Services [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	2.70%	2.30%
Insurance [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	2.70%	2.90%
Asset Management [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	2.30%	2.10%
Media [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	2.00%	1.70%
Capital Markets [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	2.00%	2.00%
Commercial Services & Supplies [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	2.00%	2.20%
Biotechnology [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.80%	3.60%
Thrifts and Mortgage Finance [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.40%	1.40%
Personal Products [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.30%	1.30%
Packaged Foods & Meats [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.20%	1.20%
Auto Parts & Equipment [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.20%	1.20%
Life Sciences Tools & Services [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.10%	1.10%
Road & Rail [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	1.00%	1.10%
Internet Software Services [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.90%	0.90%
Internet & Catalog Retail [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.70%	0.70%
Transportation Infrastructure [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.70%	0.70%
Communications Equipment [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.70%	0.70%
Trading Companies Distributors [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.50%	0.50%
Oil, Gas & Consumable Fuels [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.30%	0.30%
Hotels, Restaurants Leisure [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.30%	0.30%
Health Care Technology [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.20%	0.50%
IT Services [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.20%	0.20%
Footwear [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.20%	0.20%
Aerospace & Defense [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.20%	0.30%
Auto Components [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.20%	0.20%
Machinery [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.20%	0.20%
Airlines [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.10%	0.20%
Distributors [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)		0.10%
Food Products [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.10%	0.20%
Leisure Equipment Products [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.10%	0.10%
Specialty Retail [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.10%	0.10%
Food & Staples Retailing [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)		0.10%
Metals & Mining [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.10%	0.10%
Construction & Engineering [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.10%	0.10%
Consumer Finance [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.00%	0.00%
Energy Equipment & Services [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.00%	0.00%
Water Utilities [Member]
Schedule Of Investments In percentage [Line Items]
Percentage of Total Investments (at fair value)	0.00%	0.00%

Net Asset Value Per Share	3 Months Ended
Net Asset Value Per Share	Mar. 31, 2024
Net Asset Value Per Share [Abstract]
Net Asset Value Per Share	Note 4. Net Asset Value Per Share At March 31, 2024, the Company’s total net assets and net asset value per share were $992,143 and $18.19, respectively. This compares to total net assets and net asset value per share at December 31, 2023 of $986,639 and $18.09, respectively.

SLR Credit Solutions	3 Months Ended
SLR Credit Solutions	Mar. 31, 2024
Line of Credit Facility [Abstract]
SLR Credit Solution	Note 11. SLR 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, 2024, total commitments to the revolving credit facility are $300,000. As of March 31, 2024, SLR Credit had 29 funded commitments to 25 different issuers with total funded loans of approximately $394,934 on total assets of $432,852. As of December 31, 2023, SLR Credit had 31 funded commitments to 26 different issuers with total funded loans of approximately $406,554 on total assets of $438,422. As of March 31, 2024 and December 31, 2023, the largest loan outstanding totaled $30,000 and $30,000, respectively. For the same periods, the average exposure per issuer was $15,797 and $15,637, respectively. SLR Credit’s credit facility, which is non-recourse to the Company, had approximately $207,494 and $218,878 of borrowings outstanding at March 31, 2024 and December 31, 2023, respectively. For the three months ended March 31, 2024 and 2023, SLR Credit had net income (loss) of $5,719 and ($9,672), respectively, on gross income of $13,056 and $14,555, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions.

Capital Share Transactions - Additional Information (Details) - $ / shares	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Shares authorized	200,000,000	200,000,000	200,000,000
Par value	$ 0.01	$ 0.01	$ 0.01

SLR Senior Lending Program LLC - Additional Information (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

Dec. 12, 2022

Dec. 18, 2019

Dec. 31, 2022

Mar. 31, 2023

Mar. 31, 2024

Dec. 31, 2023

Oct. 20, 2023

Oct. 12, 2022

Summary of Investment Holdings [Line Items]

Other Commitment

$ 226,921

$ 248,692

Debt Instrument, Maturity Date

Dec. 15, 2024

Total assets

2,468,463

2,523,868

Unfunded Debt and Equity Commitments [Member]

Summary of Investment Holdings [Line Items]

Other Commitment

226,921

248,692

SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Other Ownership Interests, Contributed Capital

95,750

85,750

Total assets

225,133

195,868

Payments to Acquire Investments

$ 29,758

$ 29,829

Prepaid Expense

$ 3,215

771

SLR Senior Lending Program LLC [Member] | Unfunded Debt and Equity Commitments [Member]

Summary of Investment Holdings [Line Items]

Other Commitment

2,125

^[1]

7,125

^[1]

$ 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

124,520

$ 150,000

Debt Instrument, Maturity Date

Dec. 12, 2028

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

2.90%

SLR Senior Lending Program LLC [Member] | Investor [Member] | Unfunded Debt and Equity Commitments [Member]

Summary of Investment Holdings [Line Items]

Other Commitment

4,250

50,000

SLR Senior Lending Program LLC [Member] | Management [Member] | Unfunded Debt and Equity Commitments [Member]

Summary of Investment Holdings [Line Items]

Other Commitment

$ 14,250

$ 50,000

[1]	The Company controls the funding of these commitments and may cancel them at its discretion.

N-2 - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2023

Mar. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

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, 2024 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 2024 (through March 31, 2024)	$	386,000	$	616		—		N/A
Fiscal 2023		407,000		631		—		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
SPV Credit Facility
Fiscal 2024 (through March 31, 2024)		206,250		329		—		N/A
Fiscal 2023		206,250		320		—		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		—		—		—		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


Class and Year	Total Amount Outstanding(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit(4)
2024 Unsecured Notes
Fiscal 2024 (through March 31, 2024)		125,000		200		—		N/A
Fiscal 2023		125,000		194		—		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 2024 (through March 31, 2024)		85,000		134		—		N/A
Fiscal 2023		85,000		132		—		N/A
Fiscal 2022		85,000		149		—		N/A
2026 Unsecured Notes
Fiscal 2024 (through March 31, 2024)		75,000		120		—		N/A
Fiscal 2023		75,000		116		—		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 2024 (through March 31, 2024)		50,000		80		—		N/A
Fiscal 2023		50,000		77		—		N/A
Fiscal 2022		50,000		88		—		N/A
Fiscal 2021		50,000		124		—		N/A
2027 Series F Unsecured Notes
Fiscal 2024 (through March 31, 2024)		135,000		215		—		N/A
Fiscal 2023		135,000		209		—		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
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
Term Loans
Fiscal 2024 (through March 31, 2024)		100,000		160		—		N/A
Fiscal 2023		100,000		155		—		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
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 2024 (through March 31, 2024)	$	1,162,250	$	1,854	—	N/A
Fiscal 2023		1,183,250		1,834	—	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

(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, 2024, asset coverage was 185.4%.

(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 and 2014 periods was $100,175, $98,196 and $94,301, respectively.

Senior Securities Amount

^[1]

$ 1,162,250

$ 390,200

$ 432,900

$ 225,000

$ 1,183,250

$ 1,093,200

$ 818,500

$ 677,000

$ 593,900

$ 476,185

$ 541,600

Senior Securities Coverage per Unit

^[2]

$ 1,854

$ 3,354

$ 3,039

$ 5,162

$ 1,834

$ 1,915

$ 2,029

$ 2,259

$ 2,525

$ 2,930

$ 2,702

Preferred Stock Liquidating Preference

^[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 2024 (through March 31, 2024)	$	386,000	$	616		—		N/A
Fiscal 2023		407,000		631		—		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
SPV Credit Facility
Fiscal 2024 (through March 31, 2024)		206,250		329		—		N/A
Fiscal 2023		206,250		320		—		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		—		—		—		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


Class and Year	Total Amount Outstanding(1)		Asset Coverage Per Unit(2)		Involuntary Liquidating Preference Per Unit(3)		Average Market Value Per Unit(4)
2024 Unsecured Notes
Fiscal 2024 (through March 31, 2024)		125,000		200		—		N/A
Fiscal 2023		125,000		194		—		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 2024 (through March 31, 2024)		85,000		134		—		N/A
Fiscal 2023		85,000		132		—		N/A
Fiscal 2022		85,000		149		—		N/A
2026 Unsecured Notes
Fiscal 2024 (through March 31, 2024)		75,000		120		—		N/A
Fiscal 2023		75,000		116		—		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 2024 (through March 31, 2024)		50,000		80		—		N/A
Fiscal 2023		50,000		77		—		N/A
Fiscal 2022		50,000		88		—		N/A
Fiscal 2021		50,000		124		—		N/A
2027 Series F Unsecured Notes
Fiscal 2024 (through March 31, 2024)		135,000		215		—		N/A
Fiscal 2023		135,000		209		—		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
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
Term Loans
Fiscal 2024 (through March 31, 2024)		100,000		160		—		N/A
Fiscal 2023		100,000		155		—		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
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 2024 (through March 31, 2024)	$	1,162,250	$	1,854	—	N/A
Fiscal 2023		1,183,250		1,834	—	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

(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, 2024, we invested approximately $100.2 million across 24 portfolio companies. This compares to investing approximately $156.0 million in 40 portfolio companies for the three months ended March 31, 2023. Investments sold, prepaid or repaid during the three months ended March 31, 2024 totaled approximately $131.0 million versus approximately $144.2 million for the three months ended March 31, 2023.

At March 31, 2024, our portfolio consisted of 145 portfolio companies and was invested 33.3% in cash flow senior secured loans, 28.2% in asset-based senior secured loans / SLR Credit Solutions (“SLR Credit”) / SLR Healthcare ABL / SLR Business Credit, 22.6% in equipment senior secured financings / SLR Equipment Finance (“SLR Equipment”) / Kingsbridge Holdings, LLC (“KBH”) and 15.9% in life science senior secured loans, in each case, measured at fair value, versus 145 portfolio companies invested 31.9% in cash flow senior secured loans, 29.3% in asset-based senior secured loans / SLR Credit / SLR Healthcare ABL / SLR Business Credit, 23.3% in equipment senior secured financings / SLR Equipment / KBH, and 15.5% in life science senior secured loans, in each case, measured at fair value, at March 31, 2023.

At March 31, 2024, 81.3% or $1.71 billion of our income producing investment portfolio

is floating rate and 18.7% or $393.6 million is fixed rate, measured at fair value. 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. As of March 31, 2024 and 2023, 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 27, 2024 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. There have been no material changes during the period ended March 31, 2024 to the risk factors discussed in “Risk Factors” in the February 27, 2024 filing of our Annual Report on Form

10-K.

NAV Per Share

$ 18.19

$ 18.09

$ 18.04

$ 18.33

Credit Facility [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 386,000

$ 115,200

$ 207,900

$ 0

$ 407,000

$ 293,000

$ 222,500

$ 126,000

$ 42,900

$ 96,400

$ 245,600

Senior Securities Coverage per Unit

^[2]

$ 616

$ 990

$ 1,459

$ 0

$ 631

$ 513

$ 552

$ 421

$ 182

$ 593

$ 1,225

Preferred Stock Liquidating Preference

^[3]

$ 0

SPV Credit Facility [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 206,250

$ 155,200

Senior Securities Coverage per Unit

^[2]

$ 329

$ 320

$ 272

Preferred Stock Liquidating Preference

^[3]

$ 0

2022 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 50,000

$ 0

$ 150,000

Senior Securities Coverage per Unit

^[2]

$ 430

$ 0

$ 372

$ 501

$ 638

$ 923

$ 748

Preferred Stock Liquidating Preference

^[3]

$ 0

2022 Tranche C Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 21,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 52

$ 70

$ 89

$ 129

$ 105

Preferred Stock Liquidating Preference

^[3]

$ 0

2023 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 75,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 131

$ 186

$ 250

$ 319

$ 461

$ 374

Preferred Stock Liquidating Preference

^[3]

$ 0

2024 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 125,000

Senior Securities Coverage per Unit

^[2]

$ 200

$ 194

$ 219

$ 309

$ 417

$ 531

Preferred Stock Liquidating Preference

^[3]

$ 0

2025 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 85,000

Senior Securities Coverage per Unit

^[2]

$ 134

$ 132

$ 149

Preferred Stock Liquidating Preference

^[3]

$ 0

2026 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 75,000

Senior Securities Coverage per Unit

^[2]

$ 120

$ 116

$ 131

$ 186

$ 250

$ 319

Preferred Stock Liquidating Preference

^[3]

$ 0

2027 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 50,000

Senior Securities Coverage per Unit

^[2]

$ 80

$ 77

$ 88

$ 124

Preferred Stock Liquidating Preference

^[3]

$ 0

2027 Series F Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 135,000

Senior Securities Coverage per Unit

^[2]

$ 215

$ 209

$ 237

Preferred Stock Liquidating Preference

^[3]

$ 0

2042 Unsecured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 100,000

$ 0

Senior Securities Coverage per Unit

^[2]

$ 859

$ 702

$ 2,294

$ 0

Preferred Stock Liquidating Preference

^[3]

$ 0

Senior Securities Average Market Value per Unit

^[4]

$ 1,002

$ 982

$ 943

Senior Secured Notes [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 75,000

$ 0

Senior Securities Coverage per Unit

^[2]

$ 645

$ 527

$ 1,721

$ 0

Preferred Stock Liquidating Preference

^[3]

$ 0

Term Loans [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 100,000

$ 50,000

$ 100,000

$ 75,000

$ 50,000

Senior Securities Coverage per Unit

^[2]

$ 160

$ 430

$ 351

$ 1,147

$ 155

$ 175

$ 248

$ 250

$ 319

$ 308

$ 250

Preferred Stock Liquidating Preference

^[3]

$ 0

NEFPASS Facility [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 30,000

Senior Securities Coverage per Unit

^[2]

$ 0

$ 100

$ 128

$ 185

Preferred Stock Liquidating Preference

^[3]

$ 0

SSLP Facility [Member]

Financial Highlights [Abstract]

Senior Securities Amount

^[1]

$ 0

$ 53,785

Senior Securities Coverage per Unit

^[2]

$ 0

$ 331

Preferred Stock Liquidating Preference

^[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, 2024, asset coverage was 185.4%.
[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 and 2014 periods was $100,175, $98,196 and $94,301, respectively.

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, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	$ 2,110,586	$ 2,076,767
Net realized gain (loss)	224	(26,559)
Net change in unrealized gain (loss)	3,547	$ 11,434
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Net Change In Unrealized Gain Loss On Investments
Purchase of investment securities	100,420	$ 802,114
Proceeds from dispositions of investment securities	(130,357)	(753,170)
Transfers in/out of Level 3	0	0
Closing balance	2,084,420	2,110,586
Net change in unrealized gain (loss)	3,547	$ 6,482
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Net Change In Unrealized Gain Loss On Investments
Senior Secured Loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	1,277,539	$ 1,245,414
Net realized gain (loss)	224	(26,108)
Net change in unrealized gain (loss)	3,446	36,436
Purchase of investment securities	95,985	729,964
Proceeds from dispositions of investment securities	(114,179)	(708,167)
Transfers in/out of Level 3	0	0
Closing balance	1,263,015	1,277,539
Net change in unrealized gain (loss)	3,446	31,484
Equipment Financing [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	256,819	265,952
Net realized gain (loss)	0	0
Net change in unrealized gain (loss)	(1,340)	234
Purchase of investment securities	38	35,585
Proceeds from dispositions of investment securities	(16,178)	(44,952)
Transfers in/out of Level 3	0	0
Closing balance	239,339	256,819
Net change in unrealized gain (loss)	(1,340)	234
Preferred Equity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	3,801	3,801
Net realized gain (loss)	0	0
Net change in unrealized gain (loss)	(1,364)	(251)
Purchase of investment securities	63	251
Proceeds from dispositions of investment securities	0	0
Transfers in/out of Level 3	0	0
Closing balance	2,500	3,801
Net change in unrealized gain (loss)	(1,364)	(251)
Common Equity/Equity Interests/Warrants [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	572,427	561,600
Net realized gain (loss)	0	(451)
Net change in unrealized gain (loss)	2,805	(24,985)
Purchase of investment securities	4,334	36,314
Proceeds from dispositions of investment securities	0	(51)
Transfers in/out of Level 3	0	0
Closing balance	579,566	572,427
Net change in unrealized gain (loss)	$ 2,805	$ (24,985)

Capital Share Transactions - Summary of Transactions In Capital Stock (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Shares repurchased, Shares	0	(746)	(746)
Shares repurchased, Value	$ 0	$ (10)	$ (10)

- Definition

+ References + Details

- Definition

+ References + Details

Subsequent Events - Additional Information (Details) - USD ($)		3 Months Ended		12 Months Ended
	May 07, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Subsequent Event [Line Items]
Stock repurchased during period, value		$ 0	$ 10,000	$ 10,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchased during period, value	$ 50,000

- Definition

+ References + Details

Organization - Additional Information (Details) - $ / shares	Apr. 01, 2022	Feb. 10, 2010	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued, price per share			$ 14.02
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

Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset and Liability (Details) - Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 119,250	$ 120,820
Senior Secured Loans [Member] \| Income Approach [Member] \| Market Yield [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 1,250,329	$ 1,269,712
Principal Valuation Technique/Methodology	Income Approach	Income Approach
Unobservable Input	Market Yield	Market Yield
Senior Secured Loans [Member] \| Recovery Analysis [Member] \| Recoverable Amount [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 12,686	$ 7,827
Principal Valuation Technique/Methodology	Recovery Analysis	Recovery Analysis
Unobservable Input	Recoverable Amount	Recoverable Amount
Equipment Financing [Member] \| Income Approach [Member] \| Market Yield [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 120,089	$ 135,999
Principal Valuation Technique/Methodology	Income Approach	Income Approach
Unobservable Input	Market Yield	Market Yield
Equipment Financing [Member] \| Market Multiple [Member] \| Comparable Multiple [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 119,250	$ 120,820
Principal Valuation Technique/Methodology	Market Multiple	Market Multiple
Unobservable Input	Comparable Multiple	Comparable Multiple
Preferred Equity [Member] \| Income Approach [Member] \| Market Yield [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 2,500	$ 3,801
Principal Valuation Technique/Methodology	Income Approach	Income Approach
Unobservable Input	Market Yield	Market Yield
Common Equity/Equity Interests/Warrants [Member] \| Market Multiple [Member] \| Comparable Multiple [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 167,096	$ 162,207
Principal Valuation Technique/Methodology	Market Multiple	Market Multiple
Unobservable Input	Comparable Multiple	Comparable Multiple
Common Equity/Equity Interests/Warrants [Member] \| Market Approach [Member] \| Return on Equity [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets	$ 412,470	$ 410,220
Principal Valuation Technique/Methodology	Market Approach	Market Approach
Unobservable Input	Return on Equity	Return on Equity

SLR Senior Lending Program LLC

3 Months Ended

Mar. 31, 2024

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. On October 20, 2023, the SSLP Facility was expanded to $150,000. Effective with an amendment on March 25, 2024, the SSLP Facility is scheduled to mature on December 12, 2028 and generally bears interest at a rate of SOFR plus 2.90%. 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, 2024, there were $124,520 of borrowings outstanding on the SSLP Facility.

As of March 31, 2024 and December 31, 2023, the Company and the Investor had contributed combined equity capital in the amount of $95,750 and $85,750, respectively. As of March 31, 2024 and December 31, 2023, the Company and the Investors’ combined remaining commitments to SSLP totaled $4,250 and $14,250, 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.

portfolio companies. Investments prepaid totaled $3,215 for the three months ended March 31, 2023.

SSLP Portfolio as of March 31, 2024


Description	Industry	Spread Above Index (1)		Floor			Interest Rate (2)			Maturity Date		Par Amount		Cost		Fair Value (3)
Accession Risk Management Group, Inc.	Insurance		S+550		0.75	%		10.95	%		11/1/29	$	6,940	$	6,915	$	6,940
Aegis Toxicology Sciences Corporation (4)	Health Care Providers & Services		S+550		1.00	%		11.08	%		5/9/25		2,934		2,934		2,934
Alkeme Intermediary Holdings, LLC (4)	Insurance		S+625		1.00	%		11.68	%		10/28/26		3,446		3,356		3,446
All States Ag Parts, LLC (4)	Trading Companies & Distributors		S+600		1.00	%		11.57	%		9/1/26		2,127		2,127		2,127
Apex Service Partners, LLC	Diversified Consumer Services		S+700		1.00	%		11.81	%		10/24/30		5,409		5,280		5,409
Atria Wealth Solutions, Inc. (4)	Diversified Financial Services		S+650		1.00	%		12.07	%		5/31/24		2,462		2,462		2,462
BayMark Health Services, Inc. (4)	Health Care Providers & Services		S+500		1.00	%		10.57	%		6/11/27		4,023		4,023		4,023
CC SAG Holdings Corp. (4)	Diversified Consumer Services		S+575		0.75	%		11.19	%		6/29/28		8,946		8,946		8,946
CVAUSA Management, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.74	%		5/22/29		5,398		5,243		5,398
ENS Holdings III Corp. & ES Opco USA LLC (4)	Trading Companies & Distributors		S+475		1.00	%		10.15	%		12/31/25		1,083		1,083		1,083
Erie Construction Mid-west, LLC	Building Products		S+475		1.00	%		10.15	%		7/30/27		8,343		8,343		8,343
Exactcare Parent, Inc.	Health Care Providers & Services		S+650		1.00	%		11.77	%		11/5/29		3,228		3,140		3,228
Fertility (ITC) Investment Holdco, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.78	%		1/3/29		5,940		5,783		5,940
Foundation Consumer Brands, LLC (4)	Personal Products		S+625		1.00	%		11.73	%		2/12/27		8,606		8,606		8,606
GSM Acquisition Corp. (4)	Leisure Equipment & Products		S+500		1.00	%		10.44	%		11/16/26		8,519		8,519		8,519
Higginbotham Insurance Agency, Inc. (4)	Insurance		S+550		1.00	%		10.93	%		11/25/28		7,554		7,554		7,554
High Street Buyer, Inc.	Insurance		S+525		0.75	%		10.56	%		4/16/28		7,585		7,585		7,585
iCIMS, Inc. (4)	Software		S+725		0.75	%		12.58	%		8/18/28		3,120		3,077		3,120
Kaseya, Inc. (4)	Software		S+600		0.75	%		11.31	%		6/23/29		9,115		9,115		9,115
Kid Distro Holdings, LLC (4)	Software		S+550		1.00	%		10.96	%		10/1/27		8,916		8,916		8,916
Legacy Service Partners, LLC	Diversified Consumer Services		S+575		1.00	%		11.21	%		1/9/29		1,372		1,338		1,372
Maxor Acquisition, Inc. (4)	Health Care Providers & Services		S+675		1.00	%		12.29	%		3/1/29		6,104		5,931		6,104
Medrina, LLC	Health Care Providers & Services		S+625		1.00	%		11.74	%		10/20/29		2,404		2,345		2,380
ONS MSO, LLC (4)	Health Care Providers & Services		S+625		1.00	%		11.56	%		7/8/26		5,900		5,761		5,900
Pinnacle Treatment Centers, Inc. (4)	Health Care Providers & Services		S+650		1.00	%		11.99	%		1/2/26		6,933		6,933		6,933
Plastics Management, LLC (4)	Health Care Providers & Services		S+500		1.00	%		10.41	%		8/18/27		5,623		5,466		5,623
Retina Midco, Inc. (4)	Health Care Providers & Services		S+575		1.00	%		11.33	%		1/31/26		7,481		7,334		7,332
RQM+ Corp. (4)	Life Sciences Tools & Services		S+575		1.00	%		11.31	%		8/12/26		5,939		5,939		5,910
RxSense Holdings LLC (4)	Diversified Consumer Services		S+500		1.00	%		10.41	%		3/13/26		8,945		8,945		8,945
SunMed Group Holdings, LLC (4)	Health Care Equipment & Supplies		S+550		0.75	%		10.91	%		6/16/28		8,925		8,925		8,925
The Townsend Company, LLC (4)	Commercial Services & Supplies		S+625		1.00	%		11.58	%		8/15/29		3,620		3,536		3,620
Tilley Distribution, Inc. (4)	Trading Companies & Distributors		S+600		1.00	%		11.45	%		12/31/26		5,721		5,721		5,721
Ultimate Baked Goods Midco LLC (4)	Packaged Foods & Meats		S+625		1.00	%		11.68	%		8/13/27		8,931		8,931		8,931
United Digestive MSO Parent, LLC (4)	Health Care Providers & Services		S+675		1.00	%		12.07	%		3/30/29		3,529		3,428		3,529
Urology Management Holdings, Inc. (4)	Health Care Providers & Services		S+625		1.00	%		11.66	%		6/15/26		3,171		3,101		3,171
UVP Management, LLC (4)	Health Care Providers & Services		S+625		1.00	%		11.71	%		9/15/25		4,895		4,786		4,846
Vessco Midco Holdings, LLC (4)	Water Utilities		S+450		1.00	%		9.75	%		11/2/26		4,293		4,293		4,293
WCI-BXC Purchaser, LLC	Distributors		S+625		1.00	%		11.54	%		11/6/30		2,897		2,826		2,897
West-NR Parent, Inc. (4)	Insurance		S+625		1.00	%		11.65	%		12/27/27		6,805		6,680		6,805

														$	215,226	$	216,931

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

(2)	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 2024.

(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, 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		S+550		1.00	%		11.13	%		5/9/25	$	2,947	$	2,947	$	2,947
Alkeme Intermediary Holdings, LLC (4)	Insurance		S+650		1.00	%		11.96	%		10/28/26		3,017		2,934		3,017
All States Ag Parts, LLC (4)	Trading Companies & Distributors		S+600		1.00	%		11.61	%		9/1/26		2,133		2,133		2,133
Apex Service Partners, LLC	Diversified Consumer Services		S+700		1.00	%		11.87	%		10/24/30		4,905		4,784		4,783
Atria Wealth Solutions, Inc. (4)	Diversified Financial Services		S+650		1.00	%		11.97	%		5/31/24		2,468		2,468		2,468
BayMark Health Services, Inc. (4)	Health Care Providers & Services		S+500		1.00	%		10.61	%		6/11/27		4,033		4,033		4,033
CC SAG Holdings Corp. (4)	Diversified Consumer Services		S+575		0.75	%		11.22	%		6/29/28		8,969		8,969		8,969
CVAUSA Management, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.74	%		5/22/29		5,412		5,251		5,412
ENS Holdings III Corp. & ES Opco USA LLC (4)	Trading Companies & Distributors		S+475		1.00	%		10.20	%		12/31/25		1,086		1,086		1,086
Erie Construction Mid-west, LLC	Building Products		S+475		1.00	%		10.20	%		7/30/27		8,457		8,457		8,457
Fertility (ITC) Investment Holdco, LLC (4)	Health Care Providers & Services		S+650		1.00	%		11.97	%		1/3/29		5,955		5,791		5,955
Foundation Consumer Brands, LLC (4)	Personal Products		S+625		1.00	%		11.79	%		2/12/27		8,641		8,641		8,641
GSM Acquisition Corp. (4)	Leisure Equipment & Products		S+500		1.00	%		10.47	%		11/16/26		8,541		8,541		8,541
Higginbotham Insurance Agency, Inc. (4)	Insurance		S+550		1.00	%		10.96	%		11/25/28		7,573		7,573		7,573
High Street Buyer, Inc.	Insurance		S+575		0.75	%		11.25	%		4/16/28		7,604		7,604		7,604
iCIMS, Inc. (4)	Software		S+725		0.75	%		12.62	%		8/18/28		3,089		3,066		3,089
Kaseya, Inc. (4)	Software		S+600		0.75	%		11.38	%		6/23/29		9,058		9,058		9,058
Kid Distro Holdings, LLC (4)	Software		S+550		1.00	%		11.00	%		10/1/27		8,939		8,939		8,939
Maxor Acquisition, Inc. (4)	Health Care Providers & Services		S+675		1.00	%		12.48	%		3/1/29		6,120		5,940		6,120
ONS MSO, LLC (4)	Health Care Providers & Services		S+625		1.00	%		11.62	%		7/8/26		5,922		5,784		5,922
Pinnacle Treatment Centers, Inc. (4)	Health Care Providers & Services		S+650		1.00	%		11.95	%		1/2/26		6,951		6,951		6,951
Plastics Management, LLC (4)	Health Care Providers & Services		S+500		1.00	%		10.45	%		8/18/27		5,637		5,471		5,637
RQM+ Corp. (4)	Life Sciences Tools & Services		S+575		1.00	%		11.36	%		8/12/26		5,955		5,955		5,955
RxSense Holdings LLC (4)	Diversified Consumer Services		S+500		1.00	%		10.48	%		3/13/26		8,968		8,968		8,968
SunMed Group Holdings, LLC (4)	Health Care Equipment & Supplies		S+550		0.75	%		10.96	%		6/16/28		8,948		8,948		8,948
The Townsend Company, LLC (4)	Commercial Services & Supplies		S+625		1.00	%		11.61	%		8/15/29		3,642		3,555		3,642
Tilley Distribution, Inc. (4)	Trading Companies & Distributors		S+600		1.00	%		11.50	%		12/31/26		5,850		5,850		5,850
Ultimate Baked Goods Midco LLC (4)	Packaged Foods & Meats		S+625		1.00	%		11.71	%		8/13/27		8,954		8,954		8,865
United Digestive MSO Parent, LLC (4)	Health Care Providers & Services		S+675		1.00	%		12.25	%		3/30/29		3,411		3,311		3,411
Urology Management Holdings, Inc. (4)	Health Care Providers & Services		S+650		1.00	%		11.93	%		6/15/26		3,179		3,102		3,155
Vessco Midco Holdings, LLC (4)	Water Utilities		S+450		1.00	%		9.96	%		11/2/26		4,304		4,304		4,304
West-NR Parent, Inc. (4)	Insurance		S+625		1.00	%		11.70	%		12/27/27		6,822		6,691		6,822

														$	186,059	$	187,255

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

(2)	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 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.

Below is certain summarized financial information for SSLP as of

March 31, 2024

and

December 31, 2023

and for the three months ended March 31, 2024 and March 31, 2023:


	March 31, 2024		December 31, 2023
Selected Balance Sheet Information for SSLP:
Investments at fair value (cost $215,226 and $186,059, respectively)	$	216,931	$	187,255
Cash and other assets		8,202		8,613

Total assets	$	225,133	$	195,868

Debt outstanding ($124,520 and $106,900 face amounts, respectively, reported net of unamortized debt issuance costs of $1,914 and $1,697, respectively)	$	122,606	$	105,203
Distributions payable		2,875		1,900
Interest payable and other credit facility related expenses		579		551
Accrued expenses and other payables		559		416

Total liabilities	$	126,619	$	108,070

Members’ equity	$	98,514	$	87,798

Total liabilities and members’ equity	$	225,133	$	195,868


	For the three months ended March 31, 2024		For the three months ended March 31, 2023
Selected Income Statement Information for SSLP:
Interest income	$	5,969	$	1,009

Service fees*		125		19
Interest and other credit facility expenses		2,718		805
Other general and administrative expenses		44		38

Total expenses		2,887		862

Net investment income	$	3,082	$	147

Realized gain on investments		—		30
Net change in unrealized gain on investments		509		40

Net realized and unrealized gain on investments	$	509	$	70

Net income	$	3,591	$	217

*	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, 2024
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 owned 87.5 % of KBHT equity and the KBH management team owned the remaining 12.5% of KBHT’s equity. On March 13, 2024, as per the terms of the original purchase agreement, the Company acquired 3.125% of KBHT’s equity from the management team. Effective with this purchase, the Company owns 90.625% of KBHT’s equity and the management team owns the remaining 9.375 %. As of March 31, 2024 and December 31, 2023, KBHT had total assets of $848,189 and $857,346, respectively. For the same periods, debt recourse to KBHT totaled $252,153 and $249,807, respectively, and non-recourse debt totaled $358,881 and $367,082, respectively. None of the debt is recourse to the Company. For the three months ended March 31, 2024 and 2023, KBHT had net income of $1,928 and $2,627, respectively, on gross income of $80,008 and $68,007, 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 12. 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. On January 31, 2024, SLR Equipment entered into a $ 225,000 senior secured credit facility with a maturity date of January 31, 2027. On March 1, 2024, the credit facility was expanded to $ 350,000 of commitments. As of March 31, 2024, SLR Equipment had 174 funded equipment-backed leases and loans to 79 different customers with a total net investment in leases and loans of approximately $212,564 on total assets of $265,015. As of December 31, 2023, SLR Equipment had 150 funded equipment-backed leases and loans to 62 different customers with a total net investment in leases and loans of approximately $203,674 on total assets of $254,656. As of March 31, 2024 and December 31, 2023, the largest position outstanding totaled $ 17,883 and $17,943, respectively. For the same periods, the average exposure per customer was $2,691 and $3,285, respectively. SLR Equipment’s credit facility, which is non-recourse to the Company, had approximately $156,977 and $137,178 of borrowings outstanding at March 31, 2024 and December 31, 2023, respectively. For the three months ended March 31, 2024 and March 31, 2023, SLR Equipment had net income (loss) of ($ 1,956 ) and $ 1,038 , respectively, on gross income of $4,170 and $ 6,337 , respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 9. 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, 2024 and December 31, 2023 is $226,921 and $248,692, respectively, comprised of the following:


	March 31, 2024		December 31, 2023
SLR Credit Solutions*	$	44,263	$	44,263
BDG Media, Inc.		14,476		10,146
Southern Orthodontic Partners Management, LLC		12,887		17,861
CVAUSA Management, LLC		10,164		10,164
iCIMS, Inc.		10,020		9,858
Western Veterinary Partners LLC		9,833		—
Copper River Seafoods, Inc.		9,457		7,051
SPAR Marketing Force, Inc.		7,934		8,339
Alkeme Intermedia ry Holdings, LLC		7,312		8,531
DeepIntent, Inc.		6,885		3,933
Retina Midco, Inc.		6,882		9,382
One Touch Direct, LLC		6,703		4,085
Orthopedic Care Partners Management, LLC		6,656		20,770
SPR Therapeutics, Inc.		6,083		—
Peter C. Foy & Associates Insurance Services, LLC		5,062		5,062
West-NR Parent, Inc.		5,043		5,043
33 Across Inc.		4,741		—
Luxury Asset Capital, LLC		4,500		4,500
United Digestive MSO Parent, LLC		3,545		3,909
The Townsend Company, LLC		3,368		3,330
Vertos Medical, Inc.		3,325		3,325
Foundation Consumer Brands, LLC		3,009		3,009
Kid Distro Holdings, LLC		2,650		2,650
Erie Construction Mid-west, LLC		2,403		2,403
Ultimate Baked Goods Midco LLC		2,356		2,356
Brainjolt LLC		2,205		—
Basic Fun, Inc.		2,150		2,150
SLR Senior Lending Program LLC*		2,125		7,125
Bayside Opco, LLC		2,093		2,093
Kaseya, Inc.		1,919		3,768
SunMed Group Holdings, LLC		1,621		1,621
AMF Levered II, LLC		1,589		3,177
Urology Management Holdings, Inc.		1,510		1,510
Sightly Enterprises, Inc.		1,475		—
SLR Healthcare ABL*		1,400		1,400
RxSense Holdings LLC		1,250		1,250
Tilley Distribution, Inc.		1,158		1,158
SCP Eye Care, LLC		983		983
GSM Acquisition Corp		862		862
UVP Management, LLC		809		2,869
Vapotherm, Inc.		689		—
Pinnacle Treatment Centers, Inc.		643		643
High Street Buyer, Inc.		631		631
CC SAG Holdings Corp. (Spectrum Automotive)		548		548
Crewline Buyer, Inc.		530		530
ENS Holdings III Corp, LLC		345		576
Vessco Midco Holdings, LLC		317		310
TAUC Management, LLC		294		294
All States Ag Parts, LLC		218		321
Ardelyx, Inc.		—		15,875
Legacy Service Partners, LLC		—		5,368
SLR Equipment Finance*		—		2,150
Medrina, LLC		—		826
Exactcare Parent, Inc.		—		352
WCI-BXC Purchaser, LLC		—		332

Total Commitments	$	226,921	$	248,692

*	The Company controls the funding of these commitments and may cancel them at its discretion.

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, 2024 and December 31, 2023, 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.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2024 and December 31, 2023, management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.

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

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

SLR Senior Lending Program LLC [Member]

Summary of Investment Holdings [Line Items]

Cost

$ 215,226

$ 186,059

Fair Value

^[1]

$ 216,931

$ 187,255

Investment, Identifier [Axis]: Accession Risk Management Group, Inc. | Insurance | S+550 | 0.75% | 10.95 | % | 11/1/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

550.00%

Floor

0.75%

Interest Rate

^[3]

10.95%

Nov. 01, 2029

$ 6,940

6,915

^[1]

$ 6,940

Investment, Identifier [Axis]: Aegis Toxicology Sciences Corporation | Health Care Providers and Services | S+550 | 1.00% | 11.13% | 5/9/25

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

550.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.08%

^[3]

11.13%

^[5]

Maturity Date

^[4]

May 09, 2025

Par Amount

^[4]

$ 2,934

$ 2,947

Cost

^[4]

2,934

2,947

Fair Value

^[1],[4]

$ 2,934

$ 2,947

Investment, Identifier [Axis]: Alkeme Intermediary Holdings, LLC | Insurance| S+650 | 1.00% | 11.96% | 10/28/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

650.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.68%

^[3]

11.96%

^[5]

Maturity Date

^[4]

Oct. 28, 2026

Par Amount

^[4]

$ 3,446

$ 3,017

Cost

^[4]

3,356

2,934

Fair Value

^[1],[4]

$ 3,446

$ 3,017

Investment, Identifier [Axis]: All States Ag Parts, LLC | Trading Companies and Distributors| S+600 | 1.00% | 11.61% | 9/1/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

600.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.57%

^[3]

11.61%

^[5]

Maturity Date

^[4]

Sep. 01, 2026

Par Amount

^[4]

$ 2,127

$ 2,133

Cost

^[4]

2,127

2,133

Fair Value

^[1],[4]

$ 2,127

$ 2,133

Investment, Identifier [Axis]: Apex Service Partners, LLC | Diversified Consumer Services | S+700 | 1.00% | 11.87% |10/24/30

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

700.00%

^[4],[6]

Floor

1.00%

^[4]

Interest Rate

11.81%

^[3]

11.87%

^[4],[5]

Maturity Date

Oct. 24, 2030

^[4]

Par Amount

$ 5,409

$ 4,905

^[4]

Cost

5,280

4,784

^[4]

Fair Value

^[1]

$ 5,409

$ 4,783

^[4]

Investment, Identifier [Axis]: Atria Wealth Solutions, Inc | Diversified Financial Services | S+650 | 1.00% | 11.97% | 5/31/24

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

650.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

12.07%

^[3]

11.97%

^[5]

Maturity Date

^[4]

May 31, 2024

Par Amount

^[4]

$ 2,462

$ 2,468

Cost

^[4]

2,462

2,468

Fair Value

^[1],[4]

$ 2,462

$ 2,468

Investment, Identifier [Axis]: BayMark Health Services, Inc | Health Care Providers and Services | S+500 | 1.00% | 10.61% | 6/11/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

500.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.57%

^[3]

10.61%

^[5]

Maturity Date

^[4]

Jun. 11, 2027

Par Amount

^[4]

$ 4,023

$ 4,033

Cost

^[4]

4,023

4,033

Fair Value

^[1],[4]

$ 4,023

$ 4,033

Investment, Identifier [Axis]: CC SAG Holdings Corp | Diversified Consumer Services | S+575 | 0.75% | 11.22% | 6/29/28

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

575.00%

Floor

^[4]

0.75%

Interest Rate

^[4]

11.19%

^[3]

11.22%

^[5]

Maturity Date

^[4]

Jun. 29, 2028

Par Amount

^[4]

$ 8,946

$ 8,969

Cost

^[4]

8,946

8,969

Fair Value

^[1],[4]

$ 8,946

$ 8,969

Investment, Identifier [Axis]: CVAUSA Management, LLC | Health Care Providers and Services | S+650 | 1.00% | 11.74% | 5/22/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

650.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.74%

^[3]

11.74%

^[5]

Maturity Date

^[4]

May 22, 2029

Par Amount

^[4]

$ 5,398

$ 5,412

Cost

^[4]

5,243

5,251

Fair Value

^[1],[4]

5,398

5,412

Investment, Identifier [Axis]: Cash Equivalents - 29.5% | Liabilities in Excess of Other Assets - (144.6%)

Summary of Investment Holdings [Line Items]

Fair Value

(1,434,664)

Investment, Identifier [Axis]: Cash Equivalents - 29.5% | Net Assets - 100.0%

Summary of Investment Holdings [Line Items]

Fair Value

992,143

Investment, Identifier [Axis]: Cash Equivalents - 29.5% | Total Investments & Cash Equivalents - 244.6%

Summary of Investment Holdings [Line Items]

Cost

2,458,554

Fair Value

2,426,807

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | Liabilities in Excess of Other Assets - (150.5%)

Summary of Investment Holdings [Line Items]

Fair Value

(1,500,417)

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | Net Assets - 100.0%

Summary of Investment Holdings [Line Items]

Fair Value

986,639

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | Total Investments & Cash Equivalents - 250.5%

Summary of Investment Holdings [Line Items]

Cost

2,522,687

Fair Value

2,487,056

Investment, Identifier [Axis]: Cash Equivalents - 33.7% | U.S. Treasury Bill | Government | 12/29/2023 | 2/27/2024

Summary of Investment Holdings [Line Items]

Cost

332,290

Fair Value

332,290

Investment, Identifier [Axis]: Cash Equivalents -29.5% | U.S. Treasury Bill | Government | 3/28/2024 |5/21/2024

Summary of Investment Holdings [Line Items]

Cost

292,869

Fair Value

292,869

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Assertio Holdings, Inc. | Pharmaceuticals | 7/31/2023

Summary of Investment Holdings [Line Items]

Cost

^[7],[8]

Fair Value

^[7],[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Bayside Parent, LLC | Health Care Providers&Services | 5/31/2023

Summary of Investment Holdings [Line Items]

Cost

^[8],[9]

11,411

Fair Value

^[8],[9]

3,815

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | CardioFocus, Inc. Warrants | Health Care Equipment&Supplies | 3/31/2017

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Centrexion Therapeutics, Inc. Warrants | Pharmaceuticals | 6/28/2019

Summary of Investment Holdings [Line Items]

Cost

^[8]

136

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Conventus Orthopaedics, Inc. Warrants | Health Care Equipment&Supplies | 6/15/2016

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Delphinus Medical Technologies, Inc. Warrants | Health Care Equipment&Supplies | 8/18/2017

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Essence Group Holdings Corporation (Lumeris) Warrants | Health Care Technology | 3/22/2017

Summary of Investment Holdings [Line Items]

Cost

^[8]

129

Fair Value

^[8]

327

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | KBH Topco LLC (Kingsbridge). | Multi-Sector Holdings | 11/3/2020

Summary of Investment Holdings [Line Items]

Cost

^{[10],[11],[12]}

136,596

Fair Value

^{[10],[11],[12]}

142,000

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Meditrina, Inc. Warrants | Health Care Equipment&Supplies | 12/20/2022

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | NSPC Holdings, LLC (National Spine) | Health Care Providers&Services | 2/13/2023

Summary of Investment Holdings [Line Items]

Cost

^[8]

657

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | RD Holdco, Inc. (Rug Doctor) ClassB | Diversified Consumer Services | 12/23/2013

Summary of Investment Holdings [Line Items]

Cost

^[8],[10]

5,216

Fair Value

^[8],[10]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | RD Holdco, Inc. (Rug Doctor) | Diversified Consumer Services | 12/23/2013

Summary of Investment Holdings [Line Items]

Cost

^[8],[10]

15,683

Fair Value

^[8],[10]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Business Credit | Diversified Financial Services |4/1/2022

Summary of Investment Holdings [Line Items]

Cost

^{[10],[13],[14]}

81,583

Fair Value

^{[10],[13],[14]}

90,370

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Credit Solutions | Diversified Financial Services | 12/28/2012

Summary of Investment Holdings [Line Items]

Cost

^{[10],[13],[15]}

280,737

Fair Value

^{[10],[13],[15]}

284,000

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Healthcare ABL |Diversified Financial Services | 4/1/2022

Summary of Investment Holdings [Line Items]

Cost

^{[10],[13],[16]}

34,335

Fair Value

^{[10],[13],[16]}

35,850

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR Senior Lending Program LLC | Asset Management | 12/1/2022

Summary of Investment Holdings [Line Items]

Cost

^{[10],[13],[17]}

42,875

Fair Value

^{[10],[13],[17]}

43,899

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | SLR-AMI Topco Blocker, LLC | Internet &Catalog Retail | 6/16/2023

Summary of Investment Holdings [Line Items]

Cost

^[8],[9],[18]

24,085

Fair Value

^[8],[9],[18]

15,867

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Senseonics Holdings, Inc. | Health Care Equipment&Supplies | 7/25/2019

Summary of Investment Holdings [Line Items]

Cost

^[7],[8],[13]

235

Fair Value

^[7],[8],[13]

268

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Total Common Equity/Equity Interests/Warrants

Summary of Investment Holdings [Line Items]

Cost

634,500

Fair Value

616,607

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Total Investments - 218.4%

Summary of Investment Holdings [Line Items]

Cost

^[19]

2,190,397

Fair Value

^[19]

2,154,766

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Vapotherm, Inc. Warrants | Health Care Equipment & Supplies | 2/18/2022

Summary of Investment Holdings [Line Items]

Cost

^[8]

319

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Venus Concept Ltd. Warrants (f/k/a Restoration Robotics) | Health Care Equipment&Supplies | 05/10/2018

Summary of Investment Holdings [Line Items]

Cost

^[8]

152

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | Vertos Medical, Inc. Warrants | Health Care Equipment & Supplies | 6/14/2023

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-62.5% | aTyr Pharma, Inc. Warrants | Pharmaceuticals | 11/18/2016

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

$ 0

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Assertio Holdings, Inc. | Pharmaceuticals | 7/31/2023

Summary of Investment Holdings [Line Items]

Cost

^[7],[8]

Fair Value

^[7],[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Bayside Parent, LLC | Health Care Providers&Services | 5/31/2023

Summary of Investment Holdings [Line Items]

Cost

^[8],[20]

11,411

Fair Value

^[8],[20]

3,816

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | CardioFocus, Inc. Warrants | Health Care Equipment&Supplies | 3/31/2017

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Centrexion Therapeutics, Inc. Warrants | Pharmaceuticals | 6/28/2019

Summary of Investment Holdings [Line Items]

Cost

^[8]

136

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Conventus Orthopaedics, Inc. Warrants | Health Care Equipment&Supplies | 6/15/2016

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Delphinus Medical Technologies, Inc. Warrants | Health Care Equipment&Supplies | 8/18/2017

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Essence Group Holdings Corporation (Lumeris) Warrants | Health Care Technology | 3/22/2017

Summary of Investment Holdings [Line Items]

Cost

^[8]

129

Fair Value

^[8]

133

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | KBH Topco LLC (Kingsbridge). | Multi-Sector Holdings | 11/3/2020

Summary of Investment Holdings [Line Items]

Cost

^{[11],[12],[21]}

140,920

Fair Value

^{[11],[12],[21]}

147,072

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Meditrina, Inc. Warrants | Health Care Equipment&Supplies | 12/20/2022

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | NSPC Holdings, LLC (National Spine) | Health Care Providers&Services | 2/13/2023

Summary of Investment Holdings [Line Items]

Cost

^[8]

657

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | RD Holdco, Inc. (Rug Doctor) ClassB | Diversified Consumer Services | 12/23/2013

Summary of Investment Holdings [Line Items]

Cost

^[8],[21]

5,216

Fair Value

^[8],[21]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | RD Holdco, Inc. (Rug Doctor) | Diversified Consumer Services | 12/23/2013

Summary of Investment Holdings [Line Items]

Cost

^[8],[21]

15,683

Fair Value

^[8],[21]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Business Credit | Diversified Financial Services | 4/1/2022

Summary of Investment Holdings [Line Items]

Cost

^{[14],[21],[22]}

81,583

Fair Value

^{[14],[21],[22]}

90,370

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Credit Solutions | Diversified Financial Services | 12/28/2012

Summary of Investment Holdings [Line Items]

Cost

^{[15],[21],[22]}

280,737

Fair Value

^{[15],[21],[22]}

285,250

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Healthcare ABL | Diversified Financial Services | 4/1/2022

Summary of Investment Holdings [Line Items]

Cost

^{[16],[21],[22]}

34,335

Fair Value

^{[16],[21],[22]}

36,850

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR Senior Lending Program LLC | Asset Management | 12/1/2022

Summary of Investment Holdings [Line Items]

Cost

^{[17],[21],[22]}

47,875

Fair Value

^{[17],[21],[22]}

49,257

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | SLR-AMI Topco Blocker, LLC | Internet &Catalog Retail | 6/16/2023

Summary of Investment Holdings [Line Items]

Cost

^{[8],[18],[20]}

24,085

Fair Value

^{[8],[18],[20]}

15,867

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Senseonics Holdings, Inc. | Health Care Equipment&Supplies | 7/25/2019

Summary of Investment Holdings [Line Items]

Cost

^[7],[8],[22]

235

Fair Value

^[7],[8],[22]

249

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Total Common Equity/Equity Interests/Warrants

Summary of Investment Holdings [Line Items]

Cost

643,834

Fair Value

629,084

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Total Investments - 215.1%

Summary of Investment Holdings [Line Items]

Cost

^[23]

2,165,685

Fair Value

^[23]

2,133,938

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Vapotherm, Inc. Warrants| Health Care Equipment & Supplies | 2/18/2022

Summary of Investment Holdings [Line Items]

Cost

^[8]

329

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Venus Concept Ltd. Warrants (f/k/a Restoration Robotics)| Health Care Equipment & Supplies | 5/10/2018

Summary of Investment Holdings [Line Items]

Cost

^[8]

152

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | Vertos Medical, Inc. Warrants| Health Care Equipment & Supplies | 6/14/2023

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

Investment, Identifier [Axis]: Common Equity/Equity Interests/Warrants-63.4% | aTyr Pharma, Inc. Warrants | Pharmaceuticals | 11/18/2016

Summary of Investment Holdings [Line Items]

Cost

^[8]

Fair Value

^[8]

$ 0

Investment, Identifier [Axis]: ENS Holdings III Corp and ES Opco USA LLC | Trading Companies and Distributors | S+475 | 10.20% | 11.13% | 12/31/25

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

475.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.15%

^[3]

10.20%

^[5]

Maturity Date

^[4]

Dec. 31, 2025

Par Amount

^[4]

$ 1,083

$ 1,086

Cost

^[4]

1,083

1,086

Fair Value

^[1],[4]

$ 1,083

$ 1,086

Investment, Identifier [Axis]: Equipment Financing - 24.1% | A&A Crane and Rigging, LLC | Commercial Services & Supplies| 7.78% | 3/27/2023 | 3/27/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

7.78%

Cost

^[25]

$ 65

Fair Value

^[25]

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Aero Operating LLC | Commercial Services & Supplies| 8.47-9.64%| 2/12/2021 |3/1/2025-12/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,187

Fair Value

^[25]

1,187

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Air Methods Corporation |Airlines| 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

3,008

Fair Value

^[25]

$ 2,973

Investment, Identifier [Axis]: Equipment Financing - 24.1% | AmeraMex International, Inc. | Commercial Services & Supplies| 10.00% | 3/29/2019 | 4/15/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.00%

Cost

^[25]

$ 270

Fair Value

^[25]

273

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Boart Longyear Company| Metals & Mining| 8.31-10.40% | 5/28/2020 | 7/1/2024-10/7/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,013

Fair Value

^[25]

$ 2,013

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Bowman Energy Solutions, LLC | Commercial Services & Supplies|7.42% | 7/1/2022 | 7/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

7.42%

Cost

^[25]

$ 104

Fair Value

^[25]

$ 104

Investment, Identifier [Axis]: Equipment Financing - 24.1% | C-Port/Stone LLC | Oil, Gas & Consumable Fuels | 8.54% |10/7/2022 | 11/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.54%

Cost

^[25]

$ 5,988

Fair Value

^[25]

5,942

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Diversified Consumer Services| 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,013

Fair Value

^[25]

1,013

Investment, Identifier [Axis]: Equipment Financing - 24.1% | SLR Equipment Finance Equity Interests | Multi-Sector Holdings | 7/31/2017

Summary of Investment Holdings [Line Items]

Cost

^{[8],[21],[26],[27]}

145,000

Fair Value

^{[8],[21],[26],[27]}

119,250

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Total Equipment Financing

Summary of Investment Holdings [Line Items]

Cost

265,938

Fair Value

$ 239,339

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Waste Pro of Florida, Inc. & Waste Pro USA, Inc. | Commercial Services & Supplies| 9.17% | 4/18/2023 | 4/18/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.17%

Cost

^[25]

$ 8,619

Fair Value

^[25]

8,491

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Wind River Environmental, LLC | Diversified Consumer Services| 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025

Summary of Investment Holdings [Line Items]

Cost

^[25]

234

Fair Value

^[25]

$ 233

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Womble Company, Inc. | Energy Equipment & Services| 9.11% | 12/27/2019 | 1/1/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.11%

Cost

^[25]

$ 163

Fair Value

^[25]

160

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Worldwide Flight Services, Inc. | Transportation Infrastructure| 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,952

Fair Value

^[25]

$ 2,911

Investment, Identifier [Axis]: Equipment Financing - 24.1% | Zamborelli Enterprises Pacific Southern Foundation | Diversified Consumer Services| 8.91% | 12/7/2022 | 1/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.91%

Cost

^[25]

$ 529

Fair Value

^[25]

526

Investment, Identifier [Axis]: Equipment Financing - 24.1%| CKD Holdings, Inc | Road & Rail |8.10-8.60% | 9/22/2022 | 3/22/2026-9/22/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,645

Fair Value

^[25]

2,645

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Clubcorp Holdings, Inc| Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

5,923

Fair Value

^[25]

5,923

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,722

Fair Value

^[25]

$ 1,717

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Dongwon Autopart Technology Inc | Auto Components | 7.96%| 2/2/2021|1/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

7.96%

Cost

^[25]

$ 1,127

Fair Value

^[25]

$ 1,119

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Double S Industrial Contractors, Inc | Commercial Services & Supplies | 8.60% | 7/28/2023 | 8/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.60%

Cost

^[25]

$ 106

Fair Value

^[25]

106

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08%| 10/31/2022 | 11/1/2027-6/1/2029

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,784

Fair Value

^[25]

1,781

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Energy Drilling Services, LLC| Diversified Consumer Services | 6.58-9.16%| 8/26/2022 |11/9/2025-9/1/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,033

Fair Value

^[25]

$ 1,033

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Environmental Protection & Improvement Company, LLC | Road & Rail|8.25% | 9/30/2020 | 10/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.25%

Cost

^[25]

$ 4,397

Fair Value

^[25]

$ 4,379

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Equipment Operating Leases, LLC | Multi-Sector Holdings | 8.37% | 4/27/2018 | 4/27/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^{[21],[24],[28]}

8.37%

Cost

^[21],[28]

$ 3,260

Fair Value

^[21],[28]

$ 3,179

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Extreme Steel Crane & Rigging, LLC | Commercial Services & Supplies| 9.52% | 3/3/2023 | 3/3/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.52%

Cost

^[25]

$ 797

Fair Value

^[25]

791

Investment, Identifier [Axis]: Equipment Financing - 24.1%| First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,108

Fair Value

^[25]

$ 2,106

Investment, Identifier [Axis]: Equipment Financing - 24.1%| First National Capital, LLC | Diversified Financial Services | 9.00% | 11/5/2021 | 8/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.00%

Cost

^[25]

$ 4,830

Fair Value

^[25]

$ 4,830

Investment, Identifier [Axis]: Equipment Financing - 24.1%| GMT Corporation|Machinery | 10.71% | 10/23/2018 | 1/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.71%

Cost

^[25]

$ 3,544

Fair Value

^[25]

3,542

Investment, Identifier [Axis]: Equipment Financing - 24.1%| HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025

Summary of Investment Holdings [Line Items]

Cost

^[25]

117

Fair Value

^[25]

$ 113

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Hawkeye Contracting Company, LLC | Construction & Engineering | 10.50% | 10/8/2021| 11/1/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.50%

Cost

^[25]

$ 606

Fair Value

^[25]

$ 606

Investment, Identifier [Axis]: Equipment Financing - 24.1%| International Automotive Components Group, North America, Inc | Auto Components | 7.95% | 6/23/2021 | 6/23/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

7.95%

Cost

^[25]

$ 3,196

Fair Value

^[25]

$ 3,186

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Loc Performance Products, LLC | Machinery |10.50% |12/29/2022 | 6/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.50%

Cost

^[25]

$ 598

Fair Value

^[25]

598

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024

Summary of Investment Holdings [Line Items]

Cost

^[21],[28]

7,500

Fair Value

^[21],[28]

7,361

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Credit Consultants, LLC| Road & Rail | 8.28-12.09% | 6/17/2021 | 12/1/2024-12/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

9,650

Fair Value

^[25]

9,650

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Lux Vending, LLC | Consumer Finance |12.46-13.26% | 8/20/2021| 8/20/2024-11/1/2024

Summary of Investment Holdings [Line Items]

Cost

^[25]

361

Fair Value

^[25]

$ 360

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Miranda Logistics Enterprise, Inc | Construction & Engineering | 7.69% | 4/14/2023 | 4/14/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

7.69%

Cost

^[25]

$ 748

Fair Value

^[25]

$ 748

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Mountain Air Helicopters, Inc | Commercial Services & Supplies | 10.00% | 7/31/2017 | 2/28/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.00%

Cost

^[25]

$ 215

Fair Value

^[25]

$ 216

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Nimble Crane LLC | Commercial Services & Supplies | 9.18% |7/13/2023 | 7/13/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.18%

Cost

^[25]

$ 893

Fair Value

^[25]

$ 893

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Ozzies, Inc | Commercial Services & Supplies |10.72% |12/23/2022 | 1/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.72%

Cost

^[25]

$ 1,550

Fair Value

^[25]

$ 1,509

Investment, Identifier [Axis]: Equipment Financing - 24.1%| PCX Aerostructures LLC | Aerospace & Defense | 9.32% |11/23/2022 | 12/1/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.32%

Cost

^[25]

$ 2,219

Fair Value

^[25]

$ 2,219

Investment, Identifier [Axis]: Equipment Financing - 24.1%| RH Land Construction, LLC & Harbor Dredging LA, Inc | Construction & Engineering | 8.08% | 5/10/2023 | 5/10/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.08%

Cost

^[25]

$ 103

Fair Value

^[25]

$ 103

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rane Light Metal Castings Inc | Machinery | 10.00% | 6/1/2020 | 6/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

10.00%

Cost

^[25]

$ 28

Fair Value

^[25]

$ 28

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rango, Inc | Commercial Services & Supplies | 9.33% | 9/24/2019 | 11/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

9.33%

Cost

^[25]

$ 466

Fair Value

^[25]

451

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030

Summary of Investment Holdings [Line Items]

Cost

^[25]

690

Fair Value

^[25]

$ 690

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rotten Rock Hardscaping & Tree Service | Diversified Consumer Services | 8.21% | 12/6/2022 | 12/6/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.21%

Cost

^[25]

$ 193

Fair Value

^[25]

$ 193

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Rutt Services, LLC | Commercial Services & Supplies | 8.95% | 8/11/2023 | 8/11/2030

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.95%

Cost

^[25]

$ 1,153

Fair Value

^[25]

$ 1,151

Investment, Identifier [Axis]: Equipment Financing - 24.1%| ST Coaches, LLC | Road & Rail | 8.50% | 7/31/2017 | 1/25/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.50%

Cost

^[25]

$ 568

Fair Value

^[25]

$ 568

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Signet Marine Corporation | Transportation Infrastructure | 8.50% | 10/31/2022 | 10/1/2029

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.50%

Cost

^[25]

$ 11,858

Fair Value

^[25]

11,822

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030

Summary of Investment Holdings [Line Items]

Cost

^[25]

5,763

Fair Value

^[25]

$ 5,763

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Star Coaches Inc | Road & Rail | 8.42% | 3/9/2018 |4/1/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

8.42%

Cost

^[25]

$ 2,180

Fair Value

^[25]

2,071

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Superior Transportation, Inc | Road & Rail |10.22-10.69% | 7/31/2017 | 1/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,978

Fair Value

^[25]

$ 1,978

Investment, Identifier [Axis]: Equipment Financing - 24.1%| The Smedley Company & Smedley Services, Inc .| Commercial Services & Supplies | 4.07% | 7/31/2017 | 1/15/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

4.07%

Cost

^[25]

$ 1,189

Fair Value

^[25]

1,104

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment Rentals, Inc |Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

305

Fair Value

^[25]

305

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,282

Fair Value

^[25]

1,282

Investment, Identifier [Axis]: Equipment Financing - 24.1%| U.S. Crane & Rigging, LLC |Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,428

Fair Value

^[25]

$ 2,428

Investment, Identifier [Axis]: Equipment Financing - 24.1%| Up Trucking Services, LLC | Road & Rail | 11.30% | 3/23/2018 | 8/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

11.30%

Cost

^[25]

$ 184

Fair Value

^[25]

$ 184

Investment, Identifier [Axis]: Equipment Financing - 26.0% | A&A Crane and Rigging, LLC | Commercial Services & Supplies | 7.78% | 3/27/2023 | 3/27/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

7.78%

Cost

^[25]

$ 69

Fair Value

^[25]

Investment, Identifier [Axis]: Equipment Financing 26.0% | AFG Dallas III, LLC | Diversified Consumer Services | 10.00-11.29% | 8/11/2022 | 8/11/2026-3/1/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,099

Fair Value

^[25]

1,099

Investment, Identifier [Axis]: Equipment Financing 26.0% | Air Methods Corporation | Airlines | 7.08-7.13% | 11/3/2021 | 11/3/2026-11/23/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

3,142

Fair Value

^[25]

$ 3,103

Investment, Identifier [Axis]: Equipment Financing 26.0% | AmeraMex International, Inc | Commercial Services & Supplies |10.00% | 3/29/2019 | 4/15/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.00%

Cost

^[25]

$ 381

Fair Value

^[25]

$ 385

Investment, Identifier [Axis]: Equipment Financing 26.0% | Bazzini, LLC | Food & Staples Retailing |10.46% |12/23/2022 |1/1/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.46%

Cost

^[25]

$ 2,043

Fair Value

^[25]

1,985

Investment, Identifier [Axis]: Equipment Financing 26.0% | Boart Longyear Company | Metals & Mining | 8.31-10.44% | 5/28/2020 | 7/1/2024-10/7/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,447

Fair Value

^[25]

$ 2,447

Investment, Identifier [Axis]: Equipment Financing 26.0% | Bowman Energy Solutions, LLC | Commercial Services & Supplies | 7.42% | 7/1/2022 | 8/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

7.42%

Cost

^[25]

$ 114

Fair Value

^[25]

$ 114

Investment, Identifier [Axis]: Equipment Financing 26.0% | C-Port/Stone LLC | Oil, Gas & Consumable Fuels | 8.54% | 10/7/2022 | 11/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.54%

Cost

^[25]

$ 6,098

Fair Value

^[25]

6,060

Investment, Identifier [Axis]: Equipment Financing 26.0% | CKD Holdings, Inc | Road & Rail | 8.10-8.60% | 9/22/2022 | 6/22/2026-9/22/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,863

Fair Value

^[25]

$ 2,863

Investment, Identifier [Axis]: Equipment Financing 26.0% | Capital City Jet Center, Inc | Airlines | 10.00% | 4/4/2018 | 6/22/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.00%

Cost

^[25]

$ 1,242

Fair Value

^[25]

1,242

Investment, Identifier [Axis]: Equipment Financing 26.0% | Carolinas Contracting, LLC | Diversified Consumer Services | 8.40-8.72% | 3/7/2023 | 3/7/2028-5/18/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

3,554

Fair Value

^[25]

3,523

Investment, Identifier [Axis]: Equipment Financing 26.0% | Clubcorp Holdings, Inc | Hotels, Restaurants & Leisure | 9.36-13.01% | 5/27/2021 | 4/1/2025-5/1/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

6,461

Fair Value

^[25]

6,461

Investment, Identifier [Axis]: Equipment Financing 26.0% | Complete Equipment Rentals, LLC | Commercial Services & Supplies | 6.75-7.15% | 3/23/2023 | 4/1/2028-6/1/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,810

Fair Value

^[25]

$ 1,806

Investment, Identifier [Axis]: Equipment Financing 26.0% | Dongwon Autopart Technology Inc | Auto Components | 7.96% | 2/2/2021 |1/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

7.96%

Cost

^[25]

$ 1,277

Fair Value

^[25]

$ 1,266

Investment, Identifier [Axis]: Equipment Financing 26.0% | Double S Industrial Contractors, Inc | Commercial Services & Supplies | 8.60% | 7/28/2023 | 8/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.60%

Cost

^[25]

$ 112

Fair Value

^[25]

112

Investment, Identifier [Axis]: Equipment Financing 26.0% | Drillers Choice, Inc | Commercial Services & Supplies | 8.00-10.08% | 10/31/2022 | 11/1/2027-6/1/2029

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,875

Fair Value

^[25]

1,873

Investment, Identifier [Axis]: Equipment Financing 26.0% | Energy Drilling Services, LLC | Diversified Consumer Services | 6.58-9.16% | 8/26/2022 | 11/9/2025-9/1/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,076

Fair Value

^[25]

$ 1,076

Investment, Identifier [Axis]: Equipment Financing 26.0% | Environmental Protection & Improvement Company, LLC | Road & Rail | 8.25% | 9/30/2020 | 10/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.25%

Cost

^[25]

$ 4,585

Fair Value

^[25]

$ 4,564

Investment, Identifier [Axis]: Equipment Financing 26.0% | Equipment Operating Leases, LLC | Multi-Sector Holdings | 8.37% | 4/27/2018 | 4/27/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^{[10],[28],[29]}

8.37%

Cost

^[10],[28]

$ 3,381

Fair Value

^[10],[28]

$ 3,296

Investment, Identifier [Axis]: Equipment Financing 26.0% | Extreme Steel Crane & Rigging, LLC | Commercial Services & Supplies | 9.52% | 3/3/2023 | 3/3/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.52%

Cost

^[25]

$ 854

Fair Value

^[25]

847

Investment, Identifier [Axis]: Equipment Financing 26.0% | First American Commercial Bancorp, Inc | Diversified Financial Services | 7.50-9.02% | 10/28/2021 | 10/1/2026-3/1/2027

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,281

Fair Value

^[25]

$ 2,279

Investment, Identifier [Axis]: Equipment Financing 26.0% | First National Capital, LLC | Diversified Financial Services | 9.00% | 11/5/2021 | 8/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.00%

Cost

^[25]

$ 5,290

Fair Value

^[25]

$ 5,290

Investment, Identifier [Axis]: Equipment Financing 26.0% | GMT Corporation | Machinery | 10.71% | 10/23/2018 | 1/1/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.71%

Cost

^[25]

$ 3,816

Fair Value

^[25]

$ 3,813

Investment, Identifier [Axis]: Equipment Financing 26.0% | Georgia Jet, Inc | Airlines | 8.00% | 12/4/2017 | 1/4/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.00%

Cost

^[25]

$ 25

Fair Value

^[25]

Investment, Identifier [Axis]: Equipment Financing 26.0% | HTI Logistics Corporation | Commercial Services & Supplies | 9.69-9.94% | 11/15/2018 | 5/1/2024-9/1/2025

Summary of Investment Holdings [Line Items]

Cost

^[25]

153

Fair Value

^[25]

$ 149

Investment, Identifier [Axis]: Equipment Financing 26.0% | Hawkeye Contracting Company, LLC | Construction & Engineering | 10.50% | 10/8/2021 | 11/1/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.50%

Cost

^[25]

$ 689

Fair Value

^[25]

$ 689

Investment, Identifier [Axis]: Equipment Financing 26.0% | International Automotive Components Group, North America, Inc | Auto Components | 7.95% | 6/23/2021 | 6/23/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

7.95%

Cost

^[25]

$ 3,801

Fair Value

^[25]

$ 3,711

Investment, Identifier [Axis]: Equipment Financing 26.0% | Kool Pak, LLC | Road & Rail | 8.58% | 2/5/2018 | 3/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.58%

Cost

^[25]

$ 29

Fair Value

^[25]

$ 29

Investment, Identifier [Axis]: Equipment Financing 26.0% | Loc Performance Products, LLC | Machinery | 10.50% | 12/29/2022 | 6/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.50%

Cost

^[25]

$ 636

Fair Value

^[25]

636

Investment, Identifier [Axis]: Equipment Financing 26.0% | Loyer Capital LLC | Multi-Sector Holdings | 8.73-11.52% | 5/16/2019 | 5/16/2024-9/25/2024

Summary of Investment Holdings [Line Items]

Cost

^[10],[28]

7,500

Fair Value

^[10],[28]

7,361

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Credit Consultants, LLC | Road & Rail | 8.28-12.09 % | 6/17/2021 | 12/1/2024-12/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

10,911

Fair Value

^[25]

10,911

Investment, Identifier [Axis]: Equipment Financing 26.0% | Lux Vending, LLC | Consumer Finance | 12.46-13.26% | 8/20/2021 | 7/20/2024-10/1/2024

Summary of Investment Holdings [Line Items]

Cost

^[25]

636

Fair Value

^[25]

$ 632

Investment, Identifier [Axis]: Equipment Financing 26.0% | Miranda Logistics Enterprise, Inc | Construction & Engineering | 7.69% | 4/14/2023 | 4/14/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

7.69%

Cost

^[25]

$ 787

Fair Value

^[25]

$ 787

Investment, Identifier [Axis]: Equipment Financing 26.0% | Mountain Air Helicopters Inc | Commercial Services & Supplies | 10.00% | 7/31/2017 | 2/28/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.00%

Cost

^[25]

$ 247

Fair Value

^[25]

$ 248

Investment, Identifier [Axis]: Equipment Financing 26.0% | Nimble Crane LLC | Commercial Services & Supplies | 9.18% | 7/13/2023 | 7/13/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.18%

Cost

^[25]

$ 934

Fair Value

^[25]

$ 934

Investment, Identifier [Axis]: Equipment Financing 26.0% | No Limit Construction Services, LLC | Commercial Services & Supplies | 7.73% | 5/5/2023 | 6/1/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

7.73%

Cost

^[25]

$ 118

Fair Value

^[25]

$ 118

Investment, Identifier [Axis]: Equipment Financing 26.0% | Ozzies, Inc | Commercial Services & Supplies | 10.72% | 12/23/2022 | 1/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.72%

Cost

^[25]

$ 1,668

Fair Value

^[25]

$ 1,621

Investment, Identifier [Axis]: Equipment Financing 26.0% | PCX Aerostructures LLC | Aerospace & Defense | 9.32% | 11/23/2022 | 12/1/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.32%

Cost

^[25]

$ 2,311

Fair Value

^[25]

$ 2,311

Investment, Identifier [Axis]: Equipment Financing 26.0% | RH Land Construction, LLC & Harbor Dredging LA, Inc | Construction & Engineering | 8.08% | 5/10/2023 | 5/10/2026

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.08%

Cost

^[25]

$ 114

Fair Value

^[25]

$ 114

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rane Light Metal Castings Inc | Machinery | 10.00% | 6/1/2020 | 6/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

10.00%

Cost

^[25]

$ 56

Fair Value

^[25]

$ 56

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rango, Inc | Commercial Services & Supplies | 9.33% | 9/24/2019 | 11/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.33%

Cost

^[25]

$ 583

Fair Value

^[25]

563

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rayzors Edge LLC | Diversified Consumer Services | 7.69-8.27% | 5/19/2023 | 5/18/2030-6/30/2030

Summary of Investment Holdings [Line Items]

Cost

^[25]

711

Fair Value

^[25]

$ 711

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rotten Rock Hardscaping & Tree Service | Diversified Consumer Services | 8.21% | 12/6/2022 | 12/6/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.21%

Cost

^[25]

$ 204

Fair Value

^[25]

$ 204

Investment, Identifier [Axis]: Equipment Financing 26.0% | Royal Express Inc | Road & Rail | 9.53% | 1/17/2019 | 2/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.53%

Cost

^[25]

$ 148

Fair Value

^[25]

$ 148

Investment, Identifier [Axis]: Equipment Financing 26.0% | Rutt Services, LLC | Commercial Services & Supplies | 8.95% | 8/11/2023 | 8/11/2030

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.95%

Cost

^[25]

$ 1,179

Fair Value

^[25]

1,176

Investment, Identifier [Axis]: Equipment Financing 26.0% | SLR Equipment Finance Equity Interests | Multi-Sector Holdings | 7/31/2017

Summary of Investment Holdings [Line Items]

Cost

^{[8],[10],[26],[27]}

145,000

Fair Value

^{[8],[10],[26],[27]}

$ 120,820

Investment, Identifier [Axis]: Equipment Financing 26.0% | SLR Equipment Finance | Multi-Sector Holdings | 8.50% | 1/24/2022 | 1/27/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[10],[29]

8.50%

Cost

^[10]

$ 3,850

Fair Value

^[10]

$ 3,850

Investment, Identifier [Axis]: Equipment Financing 26.0% | ST Coaches, LLC | Road & Rail | 8.50% | 7/31/2017 | 1/25/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.50%

Cost

^[25]

$ 583

Fair Value

^[25]

$ 583

Investment, Identifier [Axis]: Equipment Financing 26.0% | Signet Marine Corporation | Transportation Infrastructure | 8.50% | 10/31/2022 | 11/1/2029

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.50%

Cost

^[25]

$ 12,310

Fair Value

^[25]

12,272

Investment, Identifier [Axis]: Equipment Financing 26.0% | Smiley Lifting Solutions, LLC | Commercial Services & Supplies | 7.82-8.61% | 6/30/2022 | 9/15/2026-6/27/2030

Summary of Investment Holdings [Line Items]

Cost

^[25]

5,945

Fair Value

^[25]

$ 5,945

Investment, Identifier [Axis]: Equipment Financing 26.0% | Star Coaches Inc | Road & Rail | 8.42% | 3/9/2018 | 4/1/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.42%

Cost

^[25]

$ 2,327

Fair Value

^[25]

2,211

Investment, Identifier [Axis]: Equipment Financing 26.0% | Superior Transportation, Inc | Road & Rail | 10.22-10.63% | 7/31/2017 | 1/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,279

Fair Value

^[25]

$ 2,279

Investment, Identifier [Axis]: Equipment Financing 26.0% | The Smedley Company & Smedley Services, Inc | Commercial Services & Supplies | 4.07% | 7/31/2017 | 1/15/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

4.07%

Cost

^[25]

$ 1,397

Fair Value

^[25]

1,270

Investment, Identifier [Axis]: Equipment Financing 26.0% | Total Equipment Financing

Summary of Investment Holdings [Line Items]

Cost

282,078

Fair Value

256,819

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment Rentals, Inc | Commercial Services & Supplies | 7.94-8.75% | 10/8/2021 | 11/1/2024-12/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

361

Fair Value

^[25]

361

Investment, Identifier [Axis]: Equipment Financing 26.0% | Trinity Equipment, Inc | Commercial Services & Supplies | 8.78-8.93% | 5/4/2023 | 5/4/2028-5/19/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,345

Fair Value

^[25]

1,345

Investment, Identifier [Axis]: Equipment Financing 26.0% | U.S. Crane & Rigging, LLC | Commercial Services & Supplies | 8.73%-10.92% | 12/23/2022 | 3/1/2027-9/1/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

2,574

Fair Value

^[25]

$ 2,574

Investment, Identifier [Axis]: Equipment Financing 26.0% | Up Trucking Services, LLC | Road & Rail | 11.21% | 3/23/2018 | 8/1/2024

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

11.21%

Cost

^[25]

$ 209

Fair Value

^[25]

$ 208

Investment, Identifier [Axis]: Equipment Financing 26.0% | Waste Pro of Florida, Inc. & Waste Pro USA, Inc | Commercial Services & Supplies | 9.17% | 4/18/2023 | 4/18/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.17%

Cost

^[25]

$ 9,057

Fair Value

^[25]

8,915

Investment, Identifier [Axis]: Equipment Financing 26.0% | Wind River Environmental, LLC | Diversified Consumer Services | 8.43-10.00% | 7/31/2019 | 8/1/2024-10/5/2025

Summary of Investment Holdings [Line Items]

Cost

^[25]

311

Fair Value

^[25]

$ 311

Investment, Identifier [Axis]: Equipment Financing 26.0% | Womble Company, Inc | Energy Equipment & Services | 9.11% | 12/27/2019 | 1/1/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

9.11%

Cost

^[25]

$ 210

Fair Value

^[25]

206

Investment, Identifier [Axis]: Equipment Financing 26.0% | Worldwide Flight Services, Inc | Transportation Infrastructure | 8.32-9.93% | 9/23/2022 | 9/23/2027-8/16/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

3,097

Fair Value

^[25]

$ 3,053

Investment, Identifier [Axis]: Equipment Financing 26.0% | Zamborelli Enterprises Pacific Southern Foundation | Diversified Consumer Services | 8.91% | 12/7/2022 | 1/1/2027

Summary of Investment Holdings [Line Items]

Interest Rate

^[25],[29]

8.91%

Cost

^[25]

$ 570

Fair Value

^[25]

566

Investment, Identifier [Axis]: Equipment Financing 26.6% | Aero Operating LLC | Commercial Services & Supplies | 8.47-9.64% | 2/12/2021 | 3/1/2025-12/1/2026

Summary of Investment Holdings [Line Items]

Cost

^[25]

1,343

Fair Value

^[25]

$ 1,343

Investment, Identifier [Axis]: Equipment Financing- 24.1%| No Limit Construction Services, LLC | Commercial Services & Supplies | 7.73% | 5/5/2023 | 6/1/2028

Summary of Investment Holdings [Line Items]

Interest Rate

^[24],[25]

7.73%

Cost

^[25]

$ 113

Fair Value

^[25]

113

Investment, Identifier [Axis]: EquipmentFinancing - 24.1% | Carolinas Contracting LLC | Diversified Consumer Services | 8.40-8.72%| 3/7/2023 | 3/7/2028-5/18/2028

Summary of Investment Holdings [Line Items]

Cost

^[25]

3,383

Fair Value

^[25]

$ 3,354

Investment, Identifier [Axis]: Erie Construction Mid-west, LLC | Building Products | S+475 | 1.00% | 10.20% | 7/30/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

475.00%

Floor

1.00%

Interest Rate

10.15%

^[3]

10.20%

^[5]

Maturity Date

Jul. 30, 2027

Par Amount

$ 8,343

$ 8,457

Cost

8,343

8,457

Fair Value

^[1]

$ 8,343

$ 8,457

Investment, Identifier [Axis]: Exactcare Parent, Inc.| Health Care Providers & Services | S+650 | 1.00% |11.77% | 11/5/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

650.00%

Floor

1.00%

Interest Rate

^[3]

11.77%

Nov. 05, 2029

$ 3,228

3,140

^[1]

$ 3,228

Investment, Identifier [Axis]: Fertility (ITC) Investment Holdco, LLC | Health Care Providers and Services | S+650 | 1.00% | 11.97% | 1/3/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

650.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.78%

^[3]

11.97%

^[5]

Maturity Date

^[4]

Jan. 03, 2029

Par Amount

^[4]

$ 5,940

$ 5,955

Cost

^[4]

5,783

5,791

Fair Value

^[1],[4]

$ 5,940

$ 5,955

Investment, Identifier [Axis]: Foundation Consumer Brands, LLC | Personal Products | S+625 | 1.00% | 11.79% | 2/12/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.73%

^[3]

11.79%

^[5]

Maturity Date

^[4]

Feb. 12, 2027

Par Amount

^[4]

$ 8,606

$ 8,641

Cost

^[4]

8,606

8,641

Fair Value

^[1],[4]

$ 8,606

$ 8,641

Investment, Identifier [Axis]: GSM Acquisition Corp | Leisure Equipment and Products | S+500 | 1.00% | 11.13% | 10.47

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

500.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.44%

^[3]

10.47%

^[5]

Maturity Date

^[4]

Nov. 16, 2026

Par Amount

^[4]

$ 8,519

$ 8,541

Cost

^[4]

8,519

8,541

Fair Value

^[1],[4]

$ 8,519

$ 8,541

Investment, Identifier [Axis]: Higginbotham Insurance Agency, Inc | Insurance | S+550 | 1.00% | 10.96% | 11/25/28

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

550.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.93%

^[3]

10.96%

^[5]

Maturity Date

^[4]

Nov. 25, 2028

Par Amount

^[4]

$ 7,554

$ 7,573

Cost

^[4]

7,554

7,573

Fair Value

^[1],[4]

$ 7,554

$ 7,573

Investment, Identifier [Axis]: High Street Buyer, Inc | Insurance | S+575 | 0.75% | 11.25% | 4/16/28

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

525.00%

575.00%

Floor

0.75%

Interest Rate

10.56%

^[3]

11.25%

^[5]

Maturity Date

Apr. 16, 2028

Par Amount

$ 7,585

$ 7,604

Cost

7,585

7,604

Fair Value

^[1]

$ 7,585

$ 7,604

Investment, Identifier [Axis]: Kaseya, Inc | Software | S+600 | 0.75% | 11.38% | 6/23/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

600.00%

Floor

^[4]

0.75%

Interest Rate

^[4]

11.31%

^[3]

11.38%

^[5]

Maturity Date

^[4]

Jun. 23, 2029

Par Amount

^[4]

$ 9,115

$ 9,058

Cost

^[4]

9,115

9,058

Fair Value

^[1],[4]

$ 9,115

$ 9,058

Investment, Identifier [Axis]: Kid Distro Holdings, LLC | Software | S+550 | 1.00% | 11.00% | 10/1/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

550.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.96%

^[3]

11.00%

^[5]

Maturity Date

^[4]

Oct. 01, 2027

Par Amount

^[4]

$ 8,916

$ 8,939

Cost

^[4]

8,916

8,939

Fair Value

^[1],[4]

$ 8,916

$ 8,939

Investment, Identifier [Axis]: Legacy Service Partners, LLC | Diversified Consumer Services |S+575 |1.00% |11.21% |1/9/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

575.00%

Floor

1.00%

Interest Rate

^[3]

11.21%

Jan. 09, 2029

$ 1,372

1,338

^[1]

$ 1,372

Investment, Identifier [Axis]: Maxor Acquisition, Inc | Health Care Providers and Services| S+675 | 1.00% | 12.48% | 3/1/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

675.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

12.29%

^[3]

12.48%

^[5]

Maturity Date

^[4]

Mar. 01, 2029

Par Amount

^[4]

$ 6,104

$ 6,120

Cost

^[4]

5,931

5,940

Fair Value

^[1],[4]

$ 6,104

$ 6,120

Investment, Identifier [Axis]: Medrina, LLC | Health Care Providers & Services | S+625 | 1.00% | 11.74% | 10/20/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

625.00%

Floor

1.00%

Interest Rate

^[3]

11.74%

Oct. 20, 2029

$ 2,404

2,345

^[1]

$ 2,380

Investment, Identifier [Axis]: ONS MSO, LLC | Health Care Providers and Services | S+625 | 1.00% | 11.62% | 7/8/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.56%

^[3]

11.62%

^[5]

Maturity Date

^[4]

Jul. 08, 2026

Par Amount

^[4]

$ 5,900

$ 5,922

Cost

^[4]

5,761

5,784

Fair Value

^[1],[4]

$ 5,900

$ 5,922

Investment, Identifier [Axis]: Pinnacle Treatment Centers, Inc | Health Care Providers and Services | S+650 | 1.00% | 11.95% | 1/2/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

650.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.99%

^[3]

11.95%

^[5]

Maturity Date

^[4]

Jan. 02, 2026

Par Amount

^[4]

$ 6,933

$ 6,951

Cost

^[4]

6,933

6,951

Fair Value

^[1],[4]

$ 6,933

$ 6,951

Investment, Identifier [Axis]: Plastics Management, LLC | Health Care Providers and Services | S+500 | 1.00% | 10.45% | 8/18/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

500.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.41%

^[3]

10.45%

^[5]

Maturity Date

^[4]

Aug. 18, 2027

Par Amount

^[4]

$ 5,623

$ 5,637

Cost

^[4]

5,466

5,471

Fair Value

^[1],[4]

$ 5,623

$ 5,637

Investment, Identifier [Axis]: Preferred Equity - 0.3% | SOINT LLC | Aerospace & Defense | 5.00% | 6/8/2012 | 6/30/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^{[21],[22],[24],[30],[31]}

5.00%

Cost

^{[21],[22],[31]}

$ 5,241

Fair Value

^{[21],[22],[31]}

$ 2,500

Investment, Identifier [Axis]: Preferred Equity - 0.4% | SOINT LLC | Aerospace & Defense | 5.00% | 6/8/2012 | 6/30/2025

Summary of Investment Holdings [Line Items]

Interest Rate

^{[10],[13],[29],[30],[31]}

5.00%

Cost

^{[10],[13],[31]}

$ 5,178

Fair Value

^{[10],[13],[31]}

$ 3,801

Investment, Identifier [Axis]: RQM+ Corp | Life Sciences Tools and Services | S+575 | 1.00% | 11.36% | 8/12/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

575.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.31%

^[3]

11.36%

^[5]

Maturity Date

^[4]

Aug. 12, 2026

Par Amount

^[4]

$ 5,939

$ 5,955

Cost

^[4]

5,939

5,955

Fair Value

^[1],[4]

$ 5,910

$ 5,955

Investment, Identifier [Axis]: Retina Midco, Inc. | Health Care Providers & Services | S+575 |1.00% |11.33% |1/31/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

575.00%

Floor

^[4]

1.00%

Interest Rate

^[3],[4]

11.33%

Maturity Date

^[4]

Jan. 31, 2026

Par Amount

^[4]

$ 7,481

Cost

^[4]

7,334

Fair Value

^[1],[4]

$ 7,332

Investment, Identifier [Axis]: RxSense Holdings LLC | Diversified Consumer Services | S+500 | 1.00% | 10.48% | 3/13/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

500.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

10.41%

^[3]

10.48%

^[5]

Maturity Date

^[4]

Mar. 13, 2026

Par Amount

^[4]

$ 8,945

$ 8,968

Cost

^[4]

8,945

8,968

Fair Value

^[1],[4]

$ 8,945

$ 8,968

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | 33Across Inc. | Media | P+232 | 8.50% | 10.82% | 1/22/2024 | 10/31/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

232.00%

Interest Rate

^[24]

10.82%

Cost

$ 2,259

Fair Value

$ 2,259

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[24],[32]

11.08%

Cost

^[32]

$ 13,159

Fair Value

^[32]

$ 13,301

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Alimera Sciences, Inc. | Pharmaceuticals | S+515 | 4.60 % | 10.47 % |12/31/2019 | 5/1/2028

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

515.00%

Interest Rate

^[24],[32]

10.47%

Cost

^[32]

$ 37,608

Fair Value

^[32]

$ 40,034

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[24],[32]

11.68%

Cost

^[32]

$ 9,468

Fair Value

^[32]

$ 9,722

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[24],[32]

11.57%

Cost

^[32]

$ 2,136

Fair Value

^[32]

$ 2,161

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[22]

745.00%

Interest Rate

^[22],[24]

12.87%

Cost

^[22]

$ 68,443

Fair Value

^[22]

$ 70,302

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Ardelyx, Inc. | Pharmaceuticals | S+425 | 4.70 % | 9.59 % | 2/23/2022 |3/1/2027

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[22]

425.00%

Interest Rate

^{[22],[24],[33]}

9.59%

Cost

^[22]

$ 33,184

Fair Value

^[22]

$ 33,822

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[24],[32]

12.06%

Cost

^[32]

$ 16,164

Fair Value

^[32]

$ 16,197

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | BDG Media, Inc. | Media | P+525 | 5.50% | 13.75% | 7/18/2022 | 7/31/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

525.00%

Interest Rate

^[24]

13.75%

Cost

$ 3,524

Fair Value

$ 3,524

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Basic Fun, Inc. | Specialty Retail | S+650 | 1.00% | 12.10% | 10/30/2020 | 7/2/2024

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[24],[32]

12.10%

Cost

^[32]

$ 2,147

Fair Value

^[32]

$ 2,150

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

500.00%

Interest Rate

^[24],[32]

10.57%

Cost

^[32]

$ 8,012

Fair Value

^[32]

$ 8,244

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[20],[30]}

725.00%

Interest Rate

^[20],[24]

12.70%

Cost

^[20]

$ 20,040

Fair Value

^[20]

$ 20,040

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[20],[30]}

1000.00%

Interest Rate

^[20],[24]

15.45%

Cost

^[20]

$ 5,355

Fair Value

^[20]

$ 5,355

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Brainjolt LLC | Media | P+425 | 3.25% | 12.75% | 1/22/2024 | 1/22/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

425.00%

Interest Rate

^[24]

12.75%

Cost

$ 1,295

Fair Value

$ 1,295

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

575.00%

Interest Rate

^[24],[32]

11.19%

Cost

^[32]

$ 29,976

Fair Value

^[32]

$ 30,433

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[24],[32]

11.74%

Cost

^[32]

$ 16,847

Fair Value

^[32]

$ 17,322

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Cerapedics, Inc. | Biotechnology | S+620 | 2.75 % | 11.52 % | 12/27/2022 | 1/1/2028

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

620.00%

Interest Rate

^[24]

11.52%

Cost

$ 36,319

Fair Value

$ 37,569

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Copper River Seafoods, Inc. | Food Products | P+275 | -% | 11.25% | 12/1/2023 | 4/23/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

275.00%

Interest Rate

^[24]

11.25%

Cost

$ 2,543

Fair Value

$ 2,543

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Crewline Buyer, Inc. | IT Services | S+675 | 1.00% | 12.06% | 11/8/2023 | 11/8/2030

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

675.00%

Interest Rate

^[24]

12.06%

Cost

$ 4,961

Fair Value

$ 4,957

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | DeepIntent, Inc. | Media | P+225 | -% | 10.75% | 12/1/2023 | 6/30/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

225.00%

Interest Rate

^[24]

10.75%

Cost

$ 23,115

Fair Value

$ 23,115

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

475.00%

Interest Rate

^[24],[32]

10.15%

Cost

^[32]

$ 4,631

Fair Value

^[32]

$ 4,725

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[22]

700.00%

Interest Rate

^[22],[24]

12.46%

Cost

^[22]

$ 41,940

Fair Value

^[22]

$ 42,521

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[24]

11.78%

Cost

$ 21,967

Fair Value

$ 22,539

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[24],[32]

11.73%

Cost

^[32]

$ 26,114

Fair Value

^[32]

$ 26,619

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

500.00%

Interest Rate

^[24]

10.44%

Cost

$ 2,297

Fair Value

$ 2,365

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[24],[32]

10.93%

Cost

^[32]

$ 21,156

Fair Value

^[32]

$ 21,156

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

785.00%

Interest Rate

^[24]

13.18%

Cost

$ 19,983

Fair Value

$ 20,104

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Kaseya, Inc. | Software | S+600 | 0.75% | 10.81% | 6/22/2022 | 6/23/2029

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^{[24],[32],[34]}

10.81%

Cost

^[32]

$ 24,378

Fair Value

^[32]

$ 24,670

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[24],[32]

10.96%

Cost

^[32]

$ 19,899

Fair Value

^[32]

$ 20,155

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[21]

700.00%

Interest Rate

^[21],[24]

12.49%

Cost

^[21]

$ 95,922

Fair Value

^[21]

$ 96,000

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

475.00%

Interest Rate

^[24],[32]

13.25%

Cost

^[32]

$ 13,711

Fair Value

^[32]

$ 14,009

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

675.00%

Interest Rate

^[24],[32]

12.19%

Cost

^[32]

$ 30,061

Fair Value

^[32]

$ 30,500

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

675.00%

Interest Rate

^[24],[32]

12.29%

Cost

^[32]

$ 17,101

Fair Value

^[32]

$ 17,559

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

550.00%

Interest Rate

^[24]

10.82%

Cost

$ 3,390

Fair Value

$ 3,410

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[30]

800.00%

Interest Rate

^[24]

13.46%

Cost

$ 2,394

Fair Value

$ 2,460

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

565.00%

Interest Rate

^[24],[32]

10.97%

Cost

^[32]

$ 31,006

Fair Value

^[32]

$ 32,575

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[24],[32]

11.56%

Cost

^[32]

$ 27,390

Fair Value

^[32]

$ 28,046

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[35]

580.00%

Interest Rate

^[24],[35]

11.22%

Cost

^[35]

$ 25,156

Fair Value

^[35]

$ 24,623

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

75.00%

Interest Rate

^[24]

9.25%

Cost

$ 2,297

Fair Value

$ 2,297

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[24]

12.06%

Cost

$ 19,491

Fair Value

$ 19,587

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[22],[32]}

515.00%

Interest Rate

^{[22],[24],[32]}

10.47%

Cost

^[22],[32]

$ 44,965

Fair Value

^[22],[32]

$ 44,392

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[24],[32]

11.44%

Cost

^[32]

$ 16,604

Fair Value

^[32]

$ 16,834

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[24],[32]

11.93%

Cost

^[32]

$ 22,385

Fair Value

^[32]

$ 22,634

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

500.00%

Interest Rate

^[24],[32]

10.41%

Cost

^[32]

$ 16,482

Fair Value

^[32]

$ 17,096

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | RQM+ Corp. | Life Sciences Tools & Services | S+575 | 1.00% | 11.31% | 8/20/2021 | 8/12/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

575.00%

Interest Rate

^[24],[32]

11.31%

Cost

^[32]

$ 23,294

Fair Value

^[32]

$ 23,458

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

575.00%

Interest Rate

^[24],[32]

11.33%

Cost

^[32]

$ 20,232

Fair Value

^[32]

$ 20,183

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

500.00%

Interest Rate

^[24],[32]

10.41%

Cost

^[32]

$ 2,575

Fair Value

^[32]

$ 2,649

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

575.00%

Interest Rate

^[24]

11.17%

Cost

$ 9,715

Fair Value

$ 9,992

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[32],[36]}

523.00%

Interest Rate

^{[24],[32],[36]}

0.00%

Cost

^[32],[36]

$ 5,555

Fair Value

^[32],[36]

$ 4,859

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | SPAR Marketing Force, Inc. | Media | P+190 | 10.40% | 12/1/2023 | 10/10/2024

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

190.00%

Interest Rate

^[24]

10.40%

Cost

$ 8,866

Fair Value

$ 8,866

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

515.00%

Interest Rate

^[24]

10.47%

Cost

$ 4,837

Fair Value

$ 4,830

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Sightly Enterprises, Inc. | Media | P+575 | 6.00% | 14.25% | 1/22/2024 | 12/31/2024

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

575.00%

Interest Rate

^[24]

14.25%

Cost

$ 4,525

Fair Value

$ 4,525

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[24],[32]

11.44%

Cost

^[32]

$ 20,167

Fair Value

^[32]

$ 20,480

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

800.00%

Interest Rate

^[24]

13.47%

Cost

$ 25,301

Fair Value

$ 25,594

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[24],[32]

10.91%

Cost

^[32]

$ 14,653

Fair Value

^[32]

$ 14,943

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

450.00%

Interest Rate

^[24],[32]

15.00%

Cost

^[32]

$ 6,662

Fair Value

^[32]

$ 6,200

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[24],[32]

11.58%

Cost

^[32]

$ 9,976

Fair Value

^[32]

$ 10,213

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[24],[32]

11.45%

Cost

^[32]

$ 3,631

Fair Value

^[32]

3,763

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Total Senior Secured Loans |

Summary of Investment Holdings [Line Items]

Cost

1,250,672

Fair Value

$ 1,263,015

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

625.00%

Interest Rate

^[24]

11.71%

Cost

$ 13,489

Fair Value

$ 13,619

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[24],[32]

10.93%

Cost

^[32]

$ 25,779

Fair Value

^[32]

$ 26,292

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

675.00%

Interest Rate

^[24],[32]

12.07%

Cost

^[32]

$ 9,883

Fair Value

^[32]

$ 10,152

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

625.00%

Interest Rate

^[24]

11.66%

Cost

$ 8,980

Fair Value

$ 9,182

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

930.00%

Interest Rate

^[24],[37]

14.72%

Cost

$ 39,824

Fair Value

$ 39,811

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | Vessco Midco Holdings, LLC | Water Utilities | P+350 | 1.00% | 12.00% | 4/1/2022 | 11/2/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

350.00%

Interest Rate

^[24]

12.00%

Cost

$ 7

Fair Value

$ 7

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | West-NR Parent, Inc. | Insurance | S+625 | 1.00% | 11.65% | 8/1/2023 | 12/27/2027

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[24],[32]

11.65%

Cost

^[32]

$ 8,834

Fair Value

^[32]

$ 8,992

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[24],[32]

11.56%

Cost

^[32]

$ 9,670

Fair Value

^[32]

$ 9,661

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans | iCIMS, Inc. | Internet Software | S+725 | 0.75% | 12.05% | 8/18/2022 | 8/18/2028

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

725.00%

Interest Rate

^[24],[38]

12.05%

Cost

$ 30,498

Fair Value

30,897

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | First Lien Bank Debt/Senior Secured Loans |Total First Lien Life Science Senior Secured Loans |

Summary of Investment Holdings [Line Items]

Cost

331,354

Fair Value

$ 338,036

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

515.00%

Interest Rate

^[24]

10.47%

Cost

$ 6,622

Fair Value

6,668

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Second Lien Asset-Based Senior Secured Loans

Summary of Investment Holdings [Line Items]

Cost

37,525

Fair Value

$ 38,131

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

705.00%

Interest Rate

^[24]

12.49%

Cost

$ 29,494

Fair Value

$ 29,925

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[24]

11.83%

Cost

$ 8,031

Fair Value

$ 8,206

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Second Lien Bank Debt/Senior Secured Loans | RD Holdco, Inc. | Diversified Consumer Services | S+975 | 1.00% | 12/23/2013 | 10/12/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[21],[30],[36]}

975.00%

Interest Rate

^{[21],[24],[36]}

0.00%

Cost

^[21],[36]

$ 12,297

Fair Value

^[21],[36]

7,827

Investment, Identifier [Axis]: Senior Secured Loans - 127.3% | Total First Lien Bank Debt/Senior Secured Loans

Summary of Investment Holdings [Line Items]

Cost

869,496

Fair Value

$ 879,021

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

550.00%

Interest Rate

^[29]

11.00%

Cost

$ 6,932

Fair Value

$ 6,932

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[29],[32]

11.13%

Cost

^[32]

$ 13,188

Fair Value

^[32]

$ 13,360

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[29]

11.96%

Cost

$ 8,277

Fair Value

$ 8,514

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[29],[32]

11.61%

Cost

^[32]

$ 2,036

Fair Value

^[32]

$ 2,063

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[29],[32]

11.97%

Cost

^[32]

$ 16,159

Fair Value

^[32]

$ 16,243

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | BDG Media, Inc. | Media | P+525 | 5.50% | 13.75% | 7/18/2022 | 7/31/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

525.00%

Interest Rate

^[29]

13.75%

Cost

$ 7,854

Fair Value

$ 7,854

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Basic Fun, Inc. | Specialty Retail | S+650 | 1.00% | 12.14% | 10/30/2020 | 7/2/2024

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[29],[32]

12.14%

Cost

^[32]

$ 2,145

Fair Value

^[32]

$ 2,150

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

500.00%

Interest Rate

^[29],[32]

10.61%

Cost

^[32]

$ 8,016

Fair Value

^[32]

$ 8,265

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[9],[30]

725.00%

Interest Rate

^[9],[29]

12.75%

Cost

^[9]

$ 19,415

Fair Value

^[9]

$ 19,415

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[9],[30]

1000.00%

Interest Rate

^[9],[29]

15.50%

Cost

^[9]

$ 5,153

Fair Value

^[9]

$ 5,153

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

575.00%

Interest Rate

^[29],[32]

11.22%

Cost

^[32]

$ 30,031

Fair Value

^[32]

$ 30,510

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[29],[32]

11.74%

Cost

^[32]

$ 16,873

Fair Value

^[32]

$ 17,366

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Copper River Seafoods, Inc.| Food Products | P+275 | - | 11.25% | 12/1/2023 | 4/23/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

275.00%

Interest Rate

^[29]

11.25%

Cost

$ 4,949

Fair Value

$ 4,949

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Crewline Buyer, Inc. | IT Services | S+675 | 1.00% | 12.10% | 11/8/2023 |11/8/2030

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

675.00%

Interest Rate

^[29]

12.10%

Cost

$ 4,958

Fair Value

$ 4,957

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | DeepIntent, Inc. | Media | P+175 | - | 10.25% | 12/1/2023 | 3/25/2025

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

175.00%

Interest Rate

^[29]

10.25%

Cost

$ 21,067

Fair Value

$ 21,067

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

475.00%

Interest Rate

^[29],[32]

10.20%

Cost

^[32]

$ 4,398

Fair Value

^[32]

$ 4,505

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[13]

700.00%

Interest Rate

^[13],[29]

12.44%

Cost

^[13]

$ 41,864

Fair Value

^[13]

$ 42,521

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[29]

11.89%

Cost

$ 3,140

Fair Value

$ 3,139

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[29]

11.97%

Cost

$ 22,000

Fair Value

$ 22,596

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[29],[32]

11.79%

Cost

^[32]

$ 26,181

Fair Value

^[32]

$ 26,726

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

500.00%

Interest Rate

^[29]

10.47%

Cost

$ 2,296

Fair Value

$ 2,371

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[29],[32]

10.96%

Cost

^[32]

$ 21,210

Fair Value

^[32]

$ 21,210

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

785.00%

Interest Rate

^[29]

13.19%

Cost

$ 19,943

Fair Value

$ 20,104

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Kaseya, Inc. | Software | S+600 | 0.75% | 10.86% | 6/22/2022 | 6/23/2029

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^{[29],[32],[34]}

10.86%

Cost

^[32]

$ 24,215

Fair Value

^[32]

$ 24,519

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[29],[32]

11.00%

Cost

^[32]

$ 19,934

Fair Value

^[32]

$ 20,207

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[10]

700.00%

Interest Rate

^[10],[29]

12.52%

Cost

^[10]

$ 95,897

Fair Value

^[10]

$ 96,000

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

475.00%

Interest Rate

^[29],[32]

13.25%

Cost

^[32]

$ 13,613

Fair Value

^[32]

$ 13,729

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

675.00%

Interest Rate

^[29],[32]

12.21%

Cost

^[32]

$ 30,032

Fair Value

^[32]

$ 30,500

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

675.00%

Interest Rate

^[29],[32]

12.48%

Cost

^[32]

$ 17,128

Fair Value

^[32]

$ 17,604

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

625.00%

Interest Rate

^[29]

11.67%

Cost

$ 2,351

Fair Value

$ 2,350

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

800.00%

Interest Rate

^[29]

13.53%

Cost

$ 2,143

Fair Value

$ 2,216

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

625.00%

Interest Rate

^[29]

11.62%

Cost

$ 27,454

Fair Value

$ 28,110

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

75.00%

Interest Rate

^[29]

9.25%

Cost

$ 4,915

Fair Value

$ 4,915

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[29]

12.11%

Cost

$ 5,470

Fair Value

$ 5,488

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[29],[32]

11.47%

Cost

^[32]

$ 16,636

Fair Value

^[32]

$ 16,539

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

650.00%

Interest Rate

^[29],[32]

11.86%

Cost

^[32]

$ 22,405

Fair Value

^[32]

$ 22,687

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

500.00%

Interest Rate

^[29],[32]

10.45%

Cost

^[32]

$ 16,488

Fair Value

^[32]

$ 17,140

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | RQM+ Corp. | Life Sciences Tools & Services | S+575 | 1.00% | 11.36% | 8/20/2021 | 8/12/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

575.00%

Interest Rate

^[29],[32]

11.36%

Cost

^[32]

$ 23,327

Fair Value

^[32]

$ 23,636

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

575.00%

Interest Rate

^[29],[32]

11.38%

Cost

^[32]

$ 27,592

Fair Value

^[32]

$ 27,583

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

500.00%

Interest Rate

^[29],[32]

10.48%

Cost

^[32]

$ 2,573

Fair Value

^[32]

$ 2,656

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

575.00%

Interest Rate

^[29]

11.17%

Cost

$ 9,728

Fair Value

$ 10,015

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

523.00%

Interest Rate

^[29],[32]

10.87%

Cost

^[32]

$ 5,557

Fair Value

^[32]

$ 5,092

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | SPAR Marketing Force, Inc | Media | P+190 | - | 10.40% | 12/1/2023 | 10/10/2024

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

190.00%

Interest Rate

^[29]

10.40%

Cost

$ 8,461

Fair Value

8,461

Summary of Investment Holdings [Line Items]

Cost

862,886

Fair Value

$ 872,944

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[29],[32]

11.72%

Cost

^[32]

$ 15,300

Fair Value

^[32]

$ 15,545

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

800.00%

Interest Rate

^[29]

13.47%

Cost

$ 25,341

Fair Value

$ 26,044

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

550.00%

Interest Rate

^[29],[32]

10.96%

Cost

^[32]

$ 14,676

Fair Value

^[32]

$ 14,982

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

450.00%

Interest Rate

^[29],[32]

13.00%

Cost

^[32]

$ 6,646

Fair Value

^[32]

$ 6,409

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[29],[32]

11.61%

Cost

^[32]

$ 10,030

Fair Value

^[32]

$ 10,276

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

600.00%

Interest Rate

^[29],[32]

11.50%

Cost

^[32]

$ 3,663

Fair Value

^[32]

$ 3,808

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[32]

625.00%

Interest Rate

^[29],[32]

10.96%

Cost

^[32]

$ 25,811

Fair Value

^[32]

$ 26,095

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

675.00%

Interest Rate

^[29]

12.25%

Cost

$ 9,544

Fair Value

$ 9,812

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[29]

11.93%

Cost

$ 8,983

Fair Value

$ 9,136

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | Vessco Midco Holdings, LLC | Water Utilities | P+350 | 1% | 12% | 4/1/2022 | 11/2/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

350.00%

Interest Rate

^[29]

12.00%

Cost

$ 15

Fair Value

$ 15

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | WCI-BXC Purchaser, LLC | Distributors | S+625 | 1% | 11.64% | 11/6/2023 | 11/6/2030

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

625.00%

Interest Rate

^[29]

11.64%

Cost

$ 2,833

Fair Value

$ 2,832

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | West-NR Parent, Inc. | Insurance | S+625 | 1% | 11.7% | 8/1/2023 | 12/27/2027

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

625.00%

Interest Rate

^[29],[32]

11.70%

Cost

^[32]

$ 8,848

Fair Value

^[32]

$ 9,015

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Bank Debt/Senior Secured Loans | iCIMS, Inc.| Software | S+725 | 0.75% | 12.10% | 8/18/2022 | 8/18/2028

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

725.00%

Interest Rate

^[29],[38]

12.10%

Cost

$ 30,642

Fair Value

$ 31,059

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

625.00%

Interest Rate

^[29]

11.75%

Cost

$ 16,550

Fair Value

16,499

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans

Summary of Investment Holdings [Line Items]

Cost

1,268,641

Fair Value

$ 1,277,539

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Alimera Sciences, Inc. | Pharmaceuticals | S+515 | 4.60% | 10.50% | 12/31/2019 | 5/1/2028

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

515.00%

Interest Rate

^[29],[32]

10.50%

Cost

^[32]

$ 34,945

Fair Value

^[32]

$ 37,274

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[13]

745.00%

Interest Rate

^[13],[29]

12.90%

Cost

^[13]

$ 68,169

Fair Value

^[13]

$ 68,186

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Ardelyx, Inc. | Pharmaceuticals | S+795 | 1.00% | 13.32% | 2/23/2022 | 3/1/2027

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[13]

795.00%

Interest Rate

^[13],[29]

13.32%

Cost

^[13]

$ 17,306

Fair Value

^[13]

$ 17,766

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | BridgeBio Pharma, Inc. | Biotechnology | - | - | 9.00% | 11/17/2021 | 11/17/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[13]

0.00%

Interest Rate

^{[13],[29],[39]}

9.00%

Cost

^[13]

$ 40,567

Fair Value

^[13]

$ 40,854

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Cerapedics, Inc. | Biotechnology | S+620 | 2.75% | 11.55% | 12/27/2022 | 1/1/2028

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

620.00%

Interest Rate

^[29]

11.55%

Cost

$ 36,260

Fair Value

$ 36,156

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Glooko, Inc. | Health Care Technology | S+790 | 0.10% | 13.35% | 9/30/2021 | 10/1/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

790.00%

Interest Rate

^[29],[32]

13.35%

Cost

^[32]

$ 10,010

Fair Value

^[32]

$ 10,373

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

550.00%

Interest Rate

^[29]

10.85%

Cost

$ 3,374

Fair Value

$ 3,401

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[32]

565.00%

Interest Rate

^[29],[32]

11.00%

Cost

^[32]

$ 30,921

Fair Value

^[32]

$ 30,878

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6],[35]

580.00%

Interest Rate

^[29],[35]

11.25%

Cost

^[35]

$ 24,874

Fair Value

^[35]

$ 24,623

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[13],[32]}

515.00%

Interest Rate

^{[13],[29],[32]}

10.50%

Cost

^[13],[32]

$ 44,837

Fair Value

^[13],[32]

44,839

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | First Lien Life Science Senior Secured Loans | Total First Lien Life Science Senior Secured Loans

Summary of Investment Holdings [Line Items]

Cost

355,961

Fair Value

$ 359,236

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

930.00%

Interest Rate

^[29],[37]

14.75%

Cost

$ 38,094

Fair Value

$ 38,235

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

515.00%

Interest Rate

^[29]

10.50%

Cost

$ 6,604

Fair Value

6,651

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | Second Lien Asset-Based Senior Secured Loans

Summary of Investment Holdings [Line Items]

Cost

37,497

Fair Value

$ 37,532

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

705.00%

Interest Rate

^[29]

12.52%

Cost

$ 29,474

Fair Value

$ 29,326

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[6]

650.00%

Interest Rate

^[29]

11.86%

Cost

$ 8,023

Fair Value

$ 8,206

Investment, Identifier [Axis]: Senior Secured Loans - 129.5% | Second Lien Bank Debt/Senior Secured Loans | RD Holdco, Inc. | Diversified Consumer Services | S+975 | 1% | -% | 12/23/2013 | 10/12/2026

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^{[6],[10],[30]}

975.00%

Interest Rate

^[10],[29]

0.00%

Cost

^[10]

$ 12,297

Fair Value

^[10]

$ 7,827

Investment, Identifier [Axis]: SunMed Group Holdings, LLC | Health Care Equipment and Supplies | S+550 | 0.75% | 10.96% | 6/16/28

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

550.00%

Floor

^[4]

0.75%

Interest Rate

^[4]

10.91%

^[3]

10.96%

^[5]

Maturity Date

^[4]

Jun. 16, 2028

Par Amount

^[4]

$ 8,925

$ 8,948

Cost

^[4]

8,925

8,948

Fair Value

^[1],[4]

$ 8,925

$ 8,948

Investment, Identifier [Axis]: The Townsend Company, LLC | Commercial Services and Supplies | S+625 | 1.00% | 11.61% | 8/15/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.58%

^[3]

11.61%

^[5]

Maturity Date

^[4]

Aug. 15, 2029

Par Amount

^[4]

$ 3,620

$ 3,642

Cost

^[4]

3,536

3,555

Fair Value

^[1],[4]

$ 3,620

$ 3,642

Investment, Identifier [Axis]: Tilley Distribution, Inc | Trading Companies and Distributors | S+600 | 1.00% | 11.50% | 12/31/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

600.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.45%

^[3]

11.50%

^[5]

Maturity Date

^[4]

Dec. 31, 2026

Par Amount

^[4]

$ 5,721

$ 5,850

Cost

^[4]

5,721

5,850

Fair Value

^[1],[4]

$ 5,721

$ 5,850

Investment, Identifier [Axis]: UVP Management, LLC | Health Care Providers & Services | S+625 |1.00% | 11.71% | 9/15/25

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

Floor

^[4]

1.00%

Interest Rate

^[3],[4]

11.71%

Maturity Date

^[4]

Sep. 15, 2025

Par Amount

^[4]

$ 4,895

Cost

^[4]

4,786

Fair Value

^[1],[4]

$ 4,846

Investment, Identifier [Axis]: Ultimate Baked Goods Midco LLC | Packaged Foods and Meats | S+625 | 1.00% | 11.71% | 8/13/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.68%

^[3]

11.71%

^[5]

Maturity Date

^[4]

Aug. 13, 2027

Par Amount

^[4]

$ 8,931

$ 8,954

Cost

^[4]

8,931

8,954

Fair Value

^[1],[4]

$ 8,931

$ 8,865

Investment, Identifier [Axis]: United Digestive MSO Parent, LLC | Health Care Providers and Services | S+675 | 1.00% | 12.25% | 3/30/29

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

675.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

12.07%

^[3]

12.25%

^[5]

Maturity Date

^[4]

Mar. 30, 2029

Par Amount

^[4]

$ 3,529

$ 3,411

Cost

^[4]

3,428

3,311

Fair Value

^[1],[4]

$ 3,529

$ 3,411

Investment, Identifier [Axis]: Urology Management Holdings, Inc | Health Care Providers and Services | S+650 | 1.00% | 11.93% | 6/15/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

650.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.66%

^[3]

11.93%

^[5]

Maturity Date

^[4]

Jun. 15, 2026

Par Amount

^[4]

$ 3,171

$ 3,179

Cost

^[4]

3,101

3,102

Fair Value

^[1],[4]

$ 3,171

$ 3,155

Investment, Identifier [Axis]: Vessco Midco Holdings, LLC | Water Utilities | S+450 | 1.00% | 9.96% | 11/2/26

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

450.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

9.75%

^[3]

9.96%

^[5]

Maturity Date

^[4]

Nov. 02, 2026

Par Amount

^[4]

$ 4,293

$ 4,304

Cost

^[4]

4,293

4,304

Fair Value

^[1],[4]

$ 4,293

$ 4,304

Investment, Identifier [Axis]: WCI-BXC Purchaser, LLC | Distributors | S+625 |1.00% |11.54% | 11/6/30

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2]

625.00%

Floor

1.00%

Interest Rate

^[3]

11.54%

Nov. 06, 2030

$ 2,897

2,826

^[1]

$ 2,897

Investment, Identifier [Axis]: West-NR Parent, Inc | Insurance | S+625 | 1.00% | 11.70% | 12/27/27

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

625.00%

Floor

^[4]

1.00%

Interest Rate

^[4]

11.65%

^[3]

11.70%

^[5]

Maturity Date

^[4]

Dec. 27, 2027

Par Amount

^[4]

$ 6,805

$ 6,822

Cost

^[4]

6,680

6,691

Fair Value

^[1],[4]

$ 6,805

$ 6,822

Investment, Identifier [Axis]: iCIMS, Inc | Software | S+725 | 0.75% | 12.62% | 8/18/28

Summary of Investment Holdings [Line Items]

Investment, Basis Spread, Variable Rate

^[2],[4]

725.00%

Floor

^[4]

0.75%

Interest Rate

^[4]

12.58%

^[3]

12.62%

^[5]

Maturity Date

^[4]

Aug. 18, 2028

Par Amount

^[4]

$ 3,120

$ 3,089

Cost

^[4]

3,077

3,066

Fair Value

^[1],[4]

$ 3,120

$ 3,089

[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]	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR. These instruments are typically subject to a SOFR floor.
[3]	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 2024.
[4]	The Company also holds this security on its Consolidated Statements of Assets and Liabilities.
[5]	Floating rate debt investments typically bear interest at a rate determined by reference to the 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, 2023.
[6]	Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the SOFR or PRIME rate. These instruments are often subject to a SOFR or PRIME rate floor.
[7]	Denotes a Level 1 investment.
[8]	Non-income producing security.
[9]	Denotes investments in which we are an “Affiliated Person” but do not exercise a controlling influence, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 5% but less than 25% of the outstanding voting securities of the investment. Transactions during the year ended December 31, 2023 (beginning with the date at which the Company became an Affiliated Person) in these affiliated investments are as follows:
[10]	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 year ended December 31, 2023 in these controlled investments are as follows:
[11]	Kingsbridge Holdings, LLC is held through KBH Topco LLC, a Delaware corporation.
[12]	See note 13 to the consolidated financial statements.
[13]	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, 2023, on a fair value basis, non-qualifying assets in the portfolio represented 26.6% of the total assets of the Company.
[14]	See note 15 to the consolidated financial statements.
[15]	See note 11 to the consolidated financial statements.
[16]	See note 14 to the consolidated financial statements.
[17]	See note 17 to the consolidated financial statements.
[18]	Through this entity and other intermediate entities, the Company owns approximately 7.3% of the underlying common units of ASC Holdco, LLC, a joint venture which owns certain assets of the former Amerimark Interactive, LLC.
[19]	Aggregate net unrealized appreciation for U.S. federal income tax purposes is $2,567; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $97,678 and $95,111, respectively, based on a tax cost of $2,152,199. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the Credit Facility (see Note 7 to the consolidated financial statements). 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.
[20]	Denotes investments in which we are an “Affiliated Person” but do not exercise a controlling influence, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 5% but less than 25% of the outstanding voting securities of the investment. Transactions during the three months ended March 31, 2024 in these affiliated investments are as follows:
[21]	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, 2024 in these controlled investments are as follows:
[22]	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, 2024, on a fair value basis, non-qualifying assets in the portfolio represented 24.8% of the total assets of the Company.
[23]	Aggregate net unrealized appreciation for U.S. federal income tax purposes is $6,451; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $105,201 and $98,750, respectively, based on a tax cost of $2,127,487. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the Credit Facility (see Note 7 to the consolidated financial statements). 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.
[24]	Floating rate debt investments typically bear interest at a rate determined by reference to 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, 2024.
[25]	Indicates an investment that is wholly held by the Company through NEFPASS LLC.
[26]	SLR Equipment Finance is held through NEFCORP LLC, a wholly-owned consolidated taxable subsidiary and NEFPASS LLC, a wholly-owned consolidated subsidiary.
[27]	See note 12 to the consolidated financial statements.
[28]	Denotes a subsidiary of SLR Equipment Finance.
[29]	Floating rate debt investments typically bear interest at a rate determined by reference to 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, 2023.
[30]	Interest is paid in kind (“PIK”).
[31]	The Company’s investment in SOINT, LLC includes a one dollar investment in common shares.
[32]	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.
[33]	Certain tranches have a spread of S+795 and certain tranches have a spread of S+425.
[34]	Kaseya, Inc. may elect to defer up to 2.50% of the coupon as PIK.
[35]	OmniGuide Holdings, Inc., Domain Surgical, Inc. and OmniGuide, Inc. are co-borrowers.
[36]	Investment is on non-accrual status.
[37]	Vapotherm, Inc. may elect to defer up to 9.00% of the coupon as PIK.
[38]	iCIMS, Inc. may elect to defer up to 3.875% of the coupon as PIK.
[39]	BridgeBio Pharma, Inc. may elect to defer up to 3.00% of the coupon as PIK.

Organization	3 Months Ended
Organization	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1. Organization SLR Investment Corp. (the “Company”, “SLRC”, “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.

Earnings Per Share - Summary of Computation of Basic and Diluted Net (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss)	$ 27,871	$ 6,824
Denominator - weighted average shares, Basic	54,554,634		54,554,651
Denominator-weighted average shares, Diluted	54,554,634	54,554,651
Earnings per share, Basic	$ 0.51	$ 0.13	$ 0.13
Earnings per share, Diluted	$ 0.51	$ 0.13

- Definition

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

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-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Instruments [Abstract]

Schedule of Long-term Debt Instruments

Our debt obligations consisted of the following as of March 31, 2024 and December 31, 2023:


	March 31, 2024					December 31, 2023
Facility	Face Amount		Carrying Value			Face Amount		Carrying Value
Credit Facility	$	486,000	$	482,662	(1)	$	507,000	$	503,358	(1)
SPV Credit Facility		206,250		205,446	(2)		206,250		205,357	(2)
2024 Unsecured Notes		125,000		124,785	(3)		125,000		124,711	(3)
2025 Unsecured Notes		85,000		84,824	(4)		85,000		84,781	(4)
2026 Unsecured Notes		75,000		74,647	(5)		75,000		74,616	(5)
2027 Unsecured Notes		50,000		49,969	(6)		50,000		49,966	(6)
2027 Series F Unsecured Notes		135,000		134,990	(7)		135,000		134,988	(7)

	$	1,162,250	$	1,157,323		$	1,183,250	$	1,177,777

(1)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $3,338 and $3,642 as of March 31, 2024 and December 31, 2023, respectively.

(2)	Carrying Value equals the Face Amount net of unamortized market discount of $804 and $893 as of March 31, 2024 and December 31, 2023, respectively.

(3)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $215 and $289 as of March 31, 2024 and December 31, 2023, respectively.

(4)	Carrying Value equals the Face Amount net of unamortized market discount of $176 and $219 as of March 31, 2024 and December 31, 2023, respectively.

(5)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $353 and $384 as of March 31, 2024 and December 31, 2023, respectively.

(6)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $31 and $34 as of March 31, 2024 and December 31, 2023, respectively.

(7)	Carrying Value equals the Face Amount net of unamortized debt issuance costs of $10 and $12 as of March 31, 2024 and December 31, 2023, 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

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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

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

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Percentage representing senior secured loans in investments owned

127.30%

129.50%

Percentage representing equipment financing in investments owned

24.10%

26.00%

Percentage representing preferred equity in investments owned

0.30%

0.40%

Percentage representing common equity or equity interests or warrants owned

63.40%

62.50%

Percentage representing total investments in investments owned

215.10%

218.40%

Percentage representing cash equivalents in investments owned

29.50%

33.70%

Percentage representing net assets in investments owned

100.00%

Percentage representing total investments and cash equivalents in investments owned

244.60%

252.10%

Percentage representing liabilities in excess of other assets in investments owned

(144.60%)

(152.10%)

Percentage of outstanding voting securities of the investment

25.00%

Percentage of non-qualifying assets in the portfolio of total assets

24.80%

26.60%

Tax Basis of Investments, Unrealized Appreciation (Depreciation), Net

$ 6,451

$ 2,567

Tax Basis of Investments, Gross, Unrealized Appreciation

105,201

97,678

Tax Basis of Investments, Gross, Unrealized Depreciation

98,750

95,111

Investment Owned tax costs

2,127,487

2,152,199

SLR Senior Lending Program LLC [Member]

Investment Company Change in Net Assets

Beginning balance

^[1]

187,255

Ending balance

^[1]

$ 216,931

$ 187,255

Bridge Bio Pharma, Inc [Member]

Investment interest rate, Paid in kind

3.00%

Vapotherm, Inc. [Member]

Investment interest rate, Paid in kind

9.00%

iCIMS, Inc. [Member]

Investment interest rate, Paid in kind

3.875%

Kaseya Inc [Member]

Investment interest rate, Paid in kind

2.50%

ASC Holdco LLC [Member]

Investment Company Percentage of Holding

7.30%

Companies more than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

$ 839,074

$ 797,594

Gross Additions

9,387

53,982

Gross Reductions

(3,970)

(5,456)

Net realized gain (loss)

(381)

Net change in unrealized gain (loss)

399

(6,761)

Ending balance

844,916

839,074

Interest/ Dividend/ Other Income

15,690

57,837

Companies more than 25% owned [Member] | Equipment Operating Leases LLC [Member]

Investment Company Change in Net Assets

Beginning balance

3,296

3,741

Gross Additions

Gross Reductions

(120)

(456)

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

3,179

3,296

Interest/ Dividend/ Other Income

304

Companies more than 25% owned [Member] | Kingsbridge Holdings, LLC [Member]

Investment Company Change in Net Assets

Beginning balance

96,000

80,000

Gross Additions

16,000

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(26)

(96)

Ending balance

96,000

Interest/ Dividend/ Other Income

3,056

10,320

Companies more than 25% owned [Member] | KBH Topco LLC (Kingsbridge) [Member]

Investment Company Change in Net Assets

Beginning balance

142,000

148,444

Gross Additions

4,324

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

748

(6,444)

Ending balance

147,072

142,000

Interest/ Dividend/ Other Income

2,645

13,125

Companies more than 25% owned [Member] | Loyer Capital LLC [Member]

Investment Company Change in Net Assets

Beginning balance

7,361

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

7,361

Interest/ Dividend/ Other Income

188

755

Companies more than 25% owned [Member] | RD Holdco Inc Common Equity [Member]

Investment Company Change in Net Assets

Beginning balance

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

Interest/ Dividend/ Other Income

Companies more than 25% owned [Member] | RD Holdco Inc Class B [Member]

Investment Company Change in Net Assets

Beginning balance

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

Interest/ Dividend/ Other Income

Companies more than 25% owned [Member] | RD Holdco Inc Warrants [Member]

Investment Company Change in Net Assets

Beginning balance

Gross Additions

Gross Reductions

Net realized gain (loss)

(381)

Net change in unrealized gain (loss)

381

Ending balance

Interest/ Dividend/ Other Income

Companies more than 25% owned [Member] | RD Holdco Inc Debt [Member]

Investment Company Change in Net Assets

Beginning balance

7,827

6,521

Gross Additions

506

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

800

Ending balance

7,827

Interest/ Dividend/ Other Income

Companies more than 25% owned [Member] | SLR Business Credit [Member]

Investment Company Change in Net Assets

Beginning balance

90,370

89,370

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

1,000

Ending balance

90,370

Interest/ Dividend/ Other Income

1,900

7,000

Companies more than 25% owned [Member] | SLR Credit Solutions [Member]

Investment Company Change in Net Assets

Beginning balance

284,000

288,760

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

1,250

(4,760)

Ending balance

285,250

284,000

Interest/ Dividend/ Other Income

5,000

20,000

Companies more than 25% owned [Member] | SLR Equipment Finance Equity [Member]

Investment Company Change in Net Assets

Beginning balance

120,820

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(1,570)

Ending balance

119,250

120,820

Interest/ Dividend/ Other Income

Companies more than 25% owned [Member] | SLR Equipment Finance Debt [Member]

Investment Company Change in Net Assets

Beginning balance

3,850

5,000

Gross Additions

3,850

Gross Reductions

(3,850)

(5,000)

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

3,850

Interest/ Dividend/ Other Income

248

Companies more than 25% owned [Member] | SLR Healthcare ABL [Member]

Investment Company Change in Net Assets

Beginning balance

35,850

34,350

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

1,000

1,500

Ending balance

36,850

35,850

Interest/ Dividend/ Other Income

1,118

4,360

Companies more than 25% owned [Member] | SLR Senior Lending Program LLC [Member]

Investment Company Change in Net Assets

Beginning balance

43,899

9,426

Gross Additions

5,000

33,375

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

358

1,098

Ending balance

49,257

43,899

Interest/ Dividend/ Other Income

1,625

1,474

Companies more than 25% owned [Member] | SOINT LLC [Member]

Investment Company Change in Net Assets

Beginning balance

3,801

Gross Additions

251

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(1,364)

(251)

Ending balance

2,500

3,801

Interest/ Dividend/ Other Income

251

Companies more than 5% Less Than 25% owned [Member]

Investment Company Change in Net Assets

Beginning balance

44,250

44,909

^[2]

Gross Additions

827

19,932

Gross Reductions

(19,207)

Net realized gain (loss)

Net change in unrealized gain (loss)

(1,384)

Ending balance

45,078

44,250

Interest/ Dividend/ Other Income

831

2,084

Companies more than 5% Less Than 25% owned [Member] | AmeriMark Intermediate Holdings, LLC [Member]

Investment Company Change in Net Assets

Beginning balance

^[2]

Gross Additions

1,270

Gross Reductions

(1,270)

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

Interest/ Dividend/ Other Income

194

Companies more than 5% Less Than 25% owned [Member] | Ameri Mark Intermediate Holdings One L L C [Member]

Investment Company Change in Net Assets

Beginning balance

9,371

^[2]

Gross Additions

Gross Reductions

^[3]

(17,070)

Net realized gain (loss)

Net change in unrealized gain (loss)

7,699

Ending balance

Interest/ Dividend/ Other Income

Companies more than 5% Less Than 25% owned [Member] | Bayside Opco L L C [Member]

Investment Company Change in Net Assets

Beginning balance

846

^[2]

Gross Additions

Gross Reductions

(867)

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

Interest/ Dividend/ Other Income

Companies more than 5% Less Than 25% owned [Member] | Bayside Opco L L C One [Member]

Investment Company Change in Net Assets

Beginning balance

19,415

18,224

^[2]

Gross Additions

625

1,191

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

20,040

19,415

Interest/ Dividend/ Other Income

629

1,399

Companies more than 5% Less Than 25% owned [Member] | Bayside Parent Llc Loan [Member]

Investment Company Change in Net Assets

Beginning balance

5,153

4,773

^[2]

Gross Additions

202

380

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

Ending balance

5,355

5,153

Interest/ Dividend/ Other Income

202

447

Companies more than 5% Less Than 25% owned [Member] | Bayside Parent Llc Equity [Member]

Investment Company Change in Net Assets

Beginning balance

3,815

4,681

^[2]

Gross Additions

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(866)

Ending balance

3,816

3,815

Interest/ Dividend/ Other Income

Companies more than 5% Less Than 25% owned [Member] | SLR-AMI Topco Blocker, LLC [Member]

Investment Company Change in Net Assets

Beginning balance

15,867

7,014

^[2]

Gross Additions

17,070

^[3]

Gross Reductions

Net realized gain (loss)

Net change in unrealized gain (loss)

(8,217)

Ending balance

15,867

Interest/ Dividend/ Other Income

$ 0

[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 became an Affiliated Person to Bayside Opco, LLC and Bayside Parent, LLC on May 31, 2023 and to Amerimark Intermediate Holdings, LLC and SLR- AMI Topco Blocker, LLC on June 16, 2023.
[3]	Includes contribution of basis from Oldco AI, LLC to SLR-AMI Topco Blocker, LLC.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities:
Net increase in net assets resulting from operations	$ 27,871	$ 6,824
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	(135)	(687)
Net change in unrealized (gain) loss on investments	(3,884)	15,872
Deferred financing costs/market discount	549	524
Net accretion of discount on investments	(2,355)	(2,490)
(Increase) decrease in operating assets:
Purchase of investments	(100,173)	(155,976)
Proceeds from disposition of investments	127,860	144,686
Capitalization of payment-in-kind income	(2,799)	(3,190)
Collections of payment-in-kind income	2,314	0
Receivable for investments sold	(11)	(64)
Interest receivable	(1,097)	(801)
Dividends receivable	(24)	438
Prepaid expenses and other assets	(322)	(191)
Increase (decrease) in operating liabilities:
Payable for investments and cash equivalents purchased	(39,421)	7,609
Management fee payable	(145)	(258)
Performance-based incentive fee payable	42	(23)
Administrative services expense payable	314	(739)
Interest payable	(622)	(1,416)
Other liabilities and accrued expenses	(623)	(615)
Net Cash Provided by Operating Activities	7,339	9,503
Cash Flows from Financing Activities:
Cash distributions paid	(22,367)	(22,392)
Repayment of unsecured borrowings	0	(75,000)
Proceeds from secured borrowings	104,997	166,000
Repayments of secured borrowings	(126,000)	(62,000)
Repurchase of common stock	0	(10)
Net Cash Provided by (Used in) Financing Activities	(43,370)	6,598
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(36,031)	16,101
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	344,154	428,333
CASH AND CASH EQUIVALENTS AT END OF PERIOD	308,123	444,434
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 18,810	$ 16,702

SLR Healthcare ABL	3 Months Ended
SLR Healthcare ABL	Mar. 31, 2024
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 March 31, 2024, 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. Effective upon an amendment dated August 24, 2023, SLR Healthcare has a $150,000 non-recourse credit facility, which is expandable to $200,000 under its accordion facility. The maturity date of this facility is March 31, 2026. SLR Healthcare currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of March 31, 2024, the portfolio totaled approximately $274,000 of commitments with a total net investment in loans of $118,015 on total assets of $125,749. As of December 31, 2023, the portfolio totaled approximately $255,000 of commitments with a total net investment in loans of $111,264 on total assets of $118,563. At March 31, 2024, the portfolio consisted of 44 issuers with an average balance of approximately $2,682 versus 42 issuers with an average balance of approximately $2,649 at December 31, 2023. 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 $93,300 and $84,700 of borrowings outstanding at March 31, 2024 and December 31, 2023, respectively. For the three months ended March 31, 2024 and 2023, SLR Healthcare had net income of $1,318 and $1,120, respectively, on gross income of $4,791 and $3,836, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions.

SLR Business Credit	3 Months Ended
SLR Business Credit	Mar. 31, 2024
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, 2024, the portfolio totaled approximately $564,398 of commitments, of which $226,561 were funded, on total assets of $257,665. As of December 31, 2023, the portfolio totaled approximately $610,949 of commitments, of which $273,541 were funded, on total assets of $315,335. At March 31, 2024, the portfolio consisted of 99 issuers with an average balance of approximately $2,288 versus 102 issuers with an average balance of approximately $2,681 at December 31, 2023. 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 $175,431 and $222,917 of borrowings outstanding at March 31, 2024 and December 31, 2023, respectively. For the three months ended March 31, 2024 and 2023, SLR Business Credit had net income of $3,181 and $2,017 respectively, on gross income of $11,168 and $9,331, 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.

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of unfunded debt and equity commitments

The total amount of these unfunded commitments as of March 31, 2024 and December 31, 2023 is $226,921 and $248,692, respectively, comprised of the following:


	March 31, 2024		December 31, 2023
SLR Credit Solutions*	$	44,263	$	44,263
BDG Media, Inc.		14,476		10,146
Southern Orthodontic Partners Management, LLC		12,887		17,861
CVAUSA Management, LLC		10,164		10,164
iCIMS, Inc.		10,020		9,858
Western Veterinary Partners LLC		9,833		—
Copper River Seafoods, Inc.		9,457		7,051
SPAR Marketing Force, Inc.		7,934		8,339
Alkeme Intermedia ry Holdings, LLC		7,312		8,531
DeepIntent, Inc.		6,885		3,933
Retina Midco, Inc.		6,882		9,382
One Touch Direct, LLC		6,703		4,085
Orthopedic Care Partners Management, LLC		6,656		20,770
SPR Therapeutics, Inc.		6,083		—
Peter C. Foy & Associates Insurance Services, LLC		5,062		5,062
West-NR Parent, Inc.		5,043		5,043
33 Across Inc.		4,741		—
Luxury Asset Capital, LLC		4,500		4,500
United Digestive MSO Parent, LLC		3,545		3,909
The Townsend Company, LLC		3,368		3,330
Vertos Medical, Inc.		3,325		3,325
Foundation Consumer Brands, LLC		3,009		3,009
Kid Distro Holdings, LLC		2,650		2,650
Erie Construction Mid-west, LLC		2,403		2,403
Ultimate Baked Goods Midco LLC		2,356		2,356
Brainjolt LLC		2,205		—
Basic Fun, Inc.		2,150		2,150
SLR Senior Lending Program LLC*		2,125		7,125
Bayside Opco, LLC		2,093		2,093
Kaseya, Inc.		1,919		3,768
SunMed Group Holdings, LLC		1,621		1,621
AMF Levered II, LLC		1,589		3,177
Urology Management Holdings, Inc.		1,510		1,510
Sightly Enterprises, Inc.		1,475		—
SLR Healthcare ABL*		1,400		1,400
RxSense Holdings LLC		1,250		1,250
Tilley Distribution, Inc.		1,158		1,158
SCP Eye Care, LLC		983		983
GSM Acquisition Corp		862		862
UVP Management, LLC		809		2,869
Vapotherm, Inc.		689		—
Pinnacle Treatment Centers, Inc.		643		643
High Street Buyer, Inc.		631		631
CC SAG Holdings Corp. (Spectrum Automotive)		548		548
Crewline Buyer, Inc.		530		530
ENS Holdings III Corp, LLC		345		576
Vessco Midco Holdings, LLC		317		310
TAUC Management, LLC		294		294
All States Ag Parts, LLC		218		321
Ardelyx, Inc.		—		15,875
Legacy Service Partners, LLC		—		5,368
SLR Equipment Finance*		—		2,150
Medrina, LLC		—		826
Exactcare Parent, Inc.		—		352
WCI-BXC Purchaser, LLC		—		332

Total Commitments	$	226,921	$	248,692

*	The Company controls the funding of these commitments and may cancel them at its discretion.

Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024
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

Consolidated Statements of Changes in Net Assets - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (decrease) in net assets resulting from operations:
Net investment income	$ 23,852	$ 22,147
Net realized gain	135	687
Net change in unrealized gain (loss)	3,884	(16,010)
Net increase in net assets resulting from operations	27,871	6,824
Distributions to stockholders:
From net investment income	(22,367)	(22,147)
From return of capital	0	(220)
Net distributions to stockholders	(22,367)	(22,367)
Capital transactions (see note 10):
Repurchases of common stock	0	(10)
Total increase (decrease) in net assets	5,504	(15,553)
Net assets at beginning of period	986,639	999,731
Net assets at end of period	$ 992,143	$ 984,178
Capital stock activity (see note 10):
Repurchases of common stock	0	(746)

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024 and 2023:


	Three months ended March 31,
	2024		2023
Earnings per share (basic & diluted)
Numerator - net increase in net assets resulting from operations:	$	27,871	$	6,824
Denominator - weighted average shares:		54,554,634		54,554,651
Earnings per share:	$	0.51	$	0.13

Earnings Per Share

3 Months Ended

Mar. 31, 2024

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, 2024 and 2023:


	Three months ended March 31,
	2024		2023
Earnings per share (basic & diluted)
Numerator - net increase in net assets resulting from operations:	$	27,871	$	6,824
Denominator - weighted average shares:		54,554,634		54,554,651
Earnings per share:	$	0.51	$	0.13

SLR Business Credit - Additional Information (Details) $ in Thousands		3 Months Ended		12 Months Ended
	Jun. 03, 2021 USD ($)	Mar. 31, 2024 USD ($) issuers	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) issuers	Jun. 28, 2019 USD ($)	May 01, 2018	Oct. 20, 2017 USD ($)
SLR Business Credit [Line Items]
Commitments and contingencies
Assets		$ 2,468,463		$ 2,523,868
Number of issuers in business credit \| issuers		99		102
Line of credit facility, expiration date		Nov. 13, 2025
Net income (loss)		$ 27,871	$ 6,824
SLR Business Credit [Member]
SLR Business Credit [Line Items]
Long-term line of credit		2,288		$ 2,681
Net income (loss)		3,181	2,017
Gross income		11,168	$ 9,331
Senior Secured Commitments [Member]
SLR Business Credit [Line Items]
Commitments and contingencies		274,000		255,000
Commitment funded amount		118,015		111,264
Senior Secured Commitments [Member] \| SLR Business Credit [Member]
SLR Business Credit [Line Items]
Commitments and contingencies		564,398		610,949
Commitment funded amount		226,561		273,541
Assets		257,665		315,335
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		$ 175,431		$ 222,917
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%

SLR Healthcare ABL - Additional Information (Details) $ in Thousands			3 Months Ended		12 Months Ended
	Jan. 31, 2024	Aug. 24, 2023 USD ($)	Mar. 31, 2024 USD ($) issuers	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) issuers	Mar. 01, 2024 USD ($)	Jul. 31, 2017 USD ($)	Sep. 30, 2013 USD ($)
Line of credit facility, expiration date			Nov. 13, 2025
Commitments and contingencies
Total assets			$ 2,468,463		$ 2,523,868
Number of issuers in business credit \| issuers			99		102
Net income (loss)			$ 27,871	$ 6,824
Long term debt			1,157,323		$ 1,177,777
SLR Healthcare ABL Credit [Member]
Total assets			$ 125,749		$ 118,563
Number of issuers in business credit \| issuers			44		42
Long-term line of credit			$ 2,682		$ 2,649
Net income (loss)			1,318	1,120
Gross income			4,791	3,836
Long term debt			93,300		84,700
Senior Secured Commitments [Member]
Commitments and contingencies			274,000		255,000
Commitment funded amount			$ 118,015		111,264
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%
SLR Equipment Finance [Member]
Equity method investment, ownership percentage							100.00%
Line of credit facility, maximum borrowing capacity		$ 150,000				$ 350,000	$ 225,000
Line of credit facility, expiration date	Jan. 31, 2027	Mar. 31, 2026
Net income (loss)			$ 1,956	1,038
Gross income			4,170	$ 6,337
Long term debt			$ 156,977		$ 137,178
Line of credit facility maximum borrowing capacity with accordion feature		$ 200,000

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

Mar. 31, 2024

Dec. 31, 2023

Level 3 [Member]

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

Assets

$ 119,250

$ 120,820

Recurring Fair Value [Member]

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

Assets

2,133,938

2,154,766

Recurring Fair Value [Member] | Measured at Net Asset Value [Member]

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

Assets

^[1]

49,257

43,899

Recurring Fair Value [Member] | Senior Secured Loans [Member]

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

Assets

1,263,015

1,277,539

Recurring Fair Value [Member] | Senior Secured Loans [Member] | Measured at Net Asset Value [Member]

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

Assets

^[1]

Recurring Fair Value [Member] | Equipment Financing [Member]

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

Assets

239,339

256,819

Recurring Fair Value [Member] | Equipment Financing [Member] | Measured at Net Asset Value [Member]

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

Assets

^[1]

Recurring Fair Value [Member] | Preferred Equity [Member]

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

Assets

2,500

3,801

Recurring Fair Value [Member] | Preferred Equity [Member] | Measured at Net Asset Value [Member]

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

Assets

^[1]

Recurring Fair Value [Member] | Common Equity/Equity Interests/Warrants [Member]

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

Assets

629,084

616,607

Recurring Fair Value [Member] | Common Equity/Equity Interests/Warrants [Member] | Measured at Net Asset Value [Member]

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

Assets

^[1]

49,257

43,899

Recurring Fair Value [Member] | Level 1 [Member]

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

Assets

261

281

Recurring Fair Value [Member] | Level 1 [Member] | Senior Secured Loans [Member]

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

Assets

Recurring Fair Value [Member] | Level 1 [Member] | Equipment Financing [Member]

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

Assets

Recurring Fair Value [Member] | Level 1 [Member] | Preferred Equity [Member]

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

Assets

Recurring Fair Value [Member] | Level 1 [Member] | Common Equity/Equity Interests/Warrants [Member]

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

Assets

261

281

Recurring Fair Value [Member] | Level 2 [Member]

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

Assets

Recurring Fair Value [Member] | Level 2 [Member] | Senior Secured Loans [Member]

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

Assets

Recurring Fair Value [Member] | Level 2 [Member] | Equipment Financing [Member]

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

Assets

Recurring Fair Value [Member] | Level 2 [Member] | Preferred Equity [Member]

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

Assets

Recurring Fair Value [Member] | Level 2 [Member] | Common Equity/Equity Interests/Warrants [Member]

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

Assets

Recurring Fair Value [Member] | Level 3 [Member]

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

Assets

2,084,420

2,110,586

Recurring Fair Value [Member] | Level 3 [Member] | Senior Secured Loans [Member]

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

Assets

1,263,015

1,277,539

Recurring Fair Value [Member] | Level 3 [Member] | Equipment Financing [Member]

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

Assets

239,339

256,819

Recurring Fair Value [Member] | Level 3 [Member] | Preferred Equity [Member]

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

Assets

2,500

3,801

Recurring Fair Value [Member] | Level 3 [Member] | Common Equity/Equity Interests/Warrants [Member]

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

Assets

$ 579,566

$ 572,427

[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.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 27,871	$ 6,824

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Kingsbridge Holdings, LLC	3 Months Ended
Kingsbridge Holdings, LLC	Mar. 31, 2024
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 owned 87.5 % of KBHT equity and the KBH management team owned the remaining 12.5% of KBHT’s equity. On March 13, 2024, as per the terms of the original purchase agreement, the Company acquired 3.125% of KBHT’s equity from the management team. Effective with this purchase, the Company owns 90.625% of KBHT’s equity and the management team owns the remaining 9.375 %. As of March 31, 2024 and December 31, 2023, KBHT had total assets of $848,189 and $857,346, respectively. For the same periods, debt recourse to KBHT totaled $252,153 and $249,807, respectively, and non-recourse debt totaled $358,881 and $367,082, respectively. None of the debt is recourse to the Company. For the three months ended March 31, 2024 and 2023, KBHT had net income of $1,928 and $2,627, respectively, on gross income of $80,008 and $68,007, 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.

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	May 06, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
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 - Schedule of Long-term Debt Instruments (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Credit Facility [Member]
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	$ 3,338	$ 3,642
SPV Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	804	893
2024 Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	215	289
2025 Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	176	219
2026 Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	353	384
2027 Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	31	34
2027 Series F Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt unamortized debt issuance costs	$ 10	$ 12

Debt - Additional Information (Details) - USD ($)			3 Months Ended		4 Months Ended
Debt - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 18, 2019	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2011	Dec. 31, 2023	Apr. 01, 2022	Jan. 06, 2022	Dec. 28, 2021	Sep. 14, 2021	Aug. 26, 2011
Debt Instrument [Line Items]
Debt instrument face value			$ 1,162,250,000			$ 1,183,250,000
Debt instrument maturity date		Dec. 15, 2024
Long term debt weighted average interest over a period of time			6.05%	5.88%
Long term debt maximum amount borrowed during the period			$ 1,183,250,000	$ 1,273,200,000
SPV LLC [Member] \| Citi Bank NA [Member] \| Line of Credit [Member] \| Amendment Agreement To Increase Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility increase									$ 25,000,000
SPV LLC [Member] \| Citi Bank NA [Member] \| Line of Credit [Member] \| Credit Facility Commitment Expired [Member]
Debt Instrument [Line Items]
Line of credit facility commitment expired									400,000
Credit Facility [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
Credit Facility One [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate percentage			3.90%
Line of credit			$ 205,446,000			205,357,000
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
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
Term Loan And Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit and term loan outstanding			$ 482,662,000			$ 503,358,000
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			$ 206,250,000
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									585,000,000
Other long term debt			386,000,000
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			$ 486,000,000
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 [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate spread			(2.00%)
Term Loan And Credit Facility [Member] \| Maximum [Member] \| Secured Overnight Financing Rate [Member] \| Citi Bank NA [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate spread					(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											$ 275,000,000
Debt instrument variable interest rate spread	0.75%		1.75%
Term Loan And Credit Facility [Member] \| Minimum [Member] \| Secured Overnight Financing Rate [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%

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Other Commitment	$ 226,921	$ 248,692

Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Face Amount	$ 1,162,250	$ 1,183,250
Total	1,157,323	1,177,777
Credit Facility [Member]
Debt Instrument [Line Items]
Face Amount	486,000	507,000
Credit Facility, Carrying Value	482,662	503,358
SPV Credit Facility [Member]
Debt Instrument [Line Items]
Face Amount	206,250	206,250
SPV Credit Facility, Carrying Value	205,446	205,357
2024 Unsecured Notes [Member]
Debt Instrument [Line Items]
Face Amount	125,000	125,000
Unsecured Debt	124,785	124,711
2025 Unsecured Notes [Member]
Debt Instrument [Line Items]
Face Amount	85,000	85,000
Unsecured Debt	84,824	84,781
2026 Unsecured Notes [Member]
Debt Instrument [Line Items]
Face Amount	75,000	75,000
Unsecured Debt	74,647	74,616
2027 Unsecured Notes [Member]
Debt Instrument [Line Items]
Face Amount	50,000	50,000
Unsecured Debt	49,969	49,966
2027 Series F Unsecured Notes [Member]
Debt Instrument [Line Items]
Face Amount	135,000	135,000
Unsecured Debt	$ 134,990	$ 134,988

Fair Value - Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3) (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
SLRCTerm Loan And Credit Facility [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	$ 486,000	$ 507,000
SPV Credit Facility [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	206,250	206,250
2024 Unsecured Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	123,125	122,813
2025 Unsecured Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	82,875	82,663
2026 Unsecured Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	71,063	71,438
2027 Unsecured Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	45,375	45,500
2027 Series F Unsecured Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Fair Value Disclosure	$ 124,200	$ 124,875

Financial Highlights (Tables)

3 Months Ended

Mar. 31, 2024

Investment Company, Financial Highlights [Abstract]

Schedule of financial highlights

The following is a schedule of financial highlights for the three months ended

March 31, 2024

and

2023


	Three months ended March 31, 2024			Three months ended March 31, 2023
Per Share Data: (a)
Net asset value, beginning of year	$	18.09		$	18.33

Net investment income		0.44			0.41
Net realized and unrealized gain (loss)		0.07			(0.29	)

Net increase in net assets resulting from operations		0.51			0.12
Distributions to stockholders:
From distributable earnings		(0.41	)		(0.41	)
From return of capital		—			(0.00	)

Net asset value, end of period	$	18.19		$	18.04

Per share market value, end of period	$	15.35		$	15.04
Total Return (b)(c)		4.86	%		11.01	%
Net assets, end of period	$	992,143		$	984,178
Shares outstanding, end of period		54,554,634			54,554,634
Ratios to average net assets (c):
Net investment income		2.42	%		2.22	%

Operating expenses		1.63	%*		1.61	%*
Interest and other credit facility expenses		1.84	%		1.53	%

Total expenses		3.47	%*		3.14	%*

Average debt outstanding	$	1,146,997		$	1,075,344
Portfolio turnover ratio		4.7	%		7.0	%

(a)	Calculated using the average shares outstanding method.

(b)

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

1.63% and 1.62%,

Financial Highlights - Schedule of Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Per Share Data:
Net asset value, beginning of year	$ 18.09	$ 18.33
Net investment income	0.44	0.41
Net realized and unrealized gain (loss)	0.07	(0.29)
Net increase in net assets resulting from operations	0.51	0.12
From distributable earnings	(0.41)	(0.41)
From return of capital	0	0
Net asset value, end of period	18.19	18.04
Per share market value, end of period	$ 15.35	$ 15.04	$ 15.03	$ 13.91
Total Return	4.86%	11.01%
Net assets, end of period	$ 992,143	$ 984,178	$ 986,639	$ 999,731
Shares outstanding, end of period	54,554,634	54,554,634	54,554,634
Ratios to average net assets:
Net investment income	2.42%	2.22%
Operating expenses	1.63%	1.61%
Interest and other credit facility expenses	1.84%	1.53%
Total expenses	3.47%	3.14%
Average debt outstanding	$ 1,146,997	$ 1,075,344
Portfolio turnover ratio	4.70%	7.00%

Consolidated Statements of Assets And Liabilities - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments at fair value:
Cash	$ 15,254	$ 11,864
Cash equivalents (cost: $292,869 and $332,290, respectively)	292,869	332,290
Dividends receivable	11,792	11,768
Interest receivable	12,131	11,034
Receivable for investments sold	1,549	1,538
Prepaid expenses and other assets	930	608
Total assets	2,468,463	2,523,868
Liabilities
Debt ($1,162,250 and $1,183,250 face amounts, respectively, reported net of unamortized debt issuance costs of $4,927 and $5,473, respectively. See note 7)	1,157,323	1,177,777
Payable for investments and cash equivalents purchased	292,869	332,290
Management fee payable (see note 3)	7,882	8,027
Performance-based incentive fee payable (see note 3)	5,906	5,864
Interest payable (see note 7)	6,913	7,535
Administrative services payable (see note 3)	2,283	1,969
Other liabilities and accrued expenses	3,144	3,767
Total liabilities	1,476,320	1,537,229
Commitments and contingencies (see note 9)
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 54,554,634 shares issued and outstanding, respectively	546	546
Paid-in capital in excess of par	1,117,930	1,117,930
Accumulated distributable net loss	(126,333)	(131,837)
Total net assets	$ 992,143	$ 986,639
Net Asset Value Per Share	$ 18.19	$ 18.09
Companies less than 5% owned [Member]
Investments at fair value:
Investments at fair value:	$ 1,243,944	$ 1,271,442
Companies 5% to 25% owned [Member]
Investments at fair value:
Investments at fair value:	45,078	44,250
Companies more than 25% owned [Member]
Investments at fair value:
Investments at fair value:	$ 844,916	$ 839,074