|  |  |  |
|--|--|--|
|  |

|  |  |  |
|--|--|--|
|  |

|  |  |  |
|--|--|--|
|  |

|  |  |  |
|--|--|--|
|  |

|                            |        |                                                                                                                                                                                                                                                                                                      |        |                                                |  |  |  |  |  |  |  |  |  |  |
|----------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------|--|--|--|--|--|--|--|--|--|--|
| CommissionFile Number |   | Exact name of registrant as specified in its charter, address of principal executiveoffices, telephone numbers and states or other jurisdictions of incorporation or organization |   | I.R.S. EmployerIdentification Number |
| 814-00832                  |   | New Mountain Finance Corporation                                                                                                                                                                                                                                                                     |   | 27-2978010                                     |
|                       |   | 787 Seventh Avenue, 48th FloorNew York, New York 10019Telephone: (212) 720-0300State of Incorporation: Delaware                                                                                                                                                                    |   |                                           |

|  |  |  |
|--|--|--|
|  |

|  |                                         |                   |                                           |  |  |  |  |  |  |  |  |  |  |  |
|--|-----------------------------------------|-------------------|-------------------------------------------|--|--|--|--|--|--|--|--|--|--|--|
|  | Title of each class                     | Trading Symbol(s) | Name of each exchange on which registered |  |
|  | Common stock, par value $0.01 per share | NMFC              | The NASDAQ Global Select Market           |  |
|  | 5.75% Notes due 2023                    | NMFCL             | The NASDAQ Global Select Market           |  |

|        |                                     |        |                                  |  |  |  |  |  |  |  |  |  |  |  |
|--------|-------------------------------------|--------|----------------------------------|--|--|--|--|--|--|--|--|--|--|--|
|   | Large accelerated filer ý |   | Accelerated filer o         |  |
|   | Non-accelerated filer o        |   | Smaller reporting company o |  |
|        | Emerging growth company o      |        |                                  |  |

|  |  |  |
|--|--|--|
|  |

|                                         |        |                               |  |  |  |  |  |  |
|-----------------------------------------|--------|-------------------------------|--|--|--|--|--|--|
| Description                             |   | Shares as of November 4, 2020 |
| Common stock, par value $0.01 per share |   | 96,827,342                    |

|  |  |  |
|--|--|--|
|  |

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Table of Contents

|                                         |                                                                                                                                                        |        |  |  |  |  |  |  |
|-----------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--|--|--|--|--|--|
|                                    | PAGE                                                                                                                                                   |
|                                    |                                                                                                                                                   |
| PART I. FINANCIAL INFORMATION |                                                                                                                                                        |
|                                    |                                                                                                                                                        |
| Item 1.                            | Financial Statements                                                                                                                                   |        |
|                                    |                                                                                                                                                   |   |
|                                    | New Mountain Finance Corporation                                                                                                                       |   |
|                                    | Consolidated Statements of Assets and Liabilities as of September 30, 2020 (unaudited) and December 31, 2019 (unaudited)                     | 3      |
|                                    | Consolidated Statements of Operations for the three and nine months ended September 30, 2020 (unaudited) and September 30, 2019 (unaudited)            | 4      |
|                                    | Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30, 2020 (unaudited) and September 30, 2019 (unaudited) | 5      |
|                                    | Consolidated Statements of Cash Flows for the nine months ended September 30, 2020 (unaudited) and September 30, 2019 (unaudited)                      | 6      |
|                                    | Consolidated Schedule of Investments as of September 30, 2020 (unaudited)                                                                              | 7      |
|                                    | Consolidated Schedule of Investments as of December 31, 2019                                                                                      | 28     |
|                                    | Notes to the Consolidated Financial Statements of New Mountain Finance Corporation (unaudited)                                                         | 48     |
|                                    | Report of Independent Registered Public Accounting Firm                                                                                                | 90     |
|                                    |                                                                                                                                                   |        |
| Item 2.                            | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                            | 91     |
| Item 3.                            | Quantitative and Qualitative Disclosures About Market Risk                                                                                             | 126    |
| Item 4.                            | Controls and Procedures                                                                                                                                | 127    |
|                                    |                                                                                                                                                        |
| PART II. OTHER INFORMATION    | 128                                                                                                                                                    |
|                                    |                                                                                                                                                        |
| Item 1.                            | Legal Proceedings                                                                                                                                      | 128    |
| Item 1A.                           | Risk Factors                                                                                                                                           | 128    |
| Item 2.                            | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                            | 133    |
| Item 3.                            | Defaults Upon Senior Securities                                                                                                                        | 133    |
| Item 4.                            | Mine Safety Disclosures                                                                                                                                | 133    |
| Item 5.                            | Other Information                                                                                                                                      | 133    |
| Item 6.                            | Exhibits                                                                                                                                               | 134    |
|                                    | Signatures                                                                                                                                             | 135    |

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Table of Contents

|                                                                                                                                                   |                    |                 |                   |                  |   |                 |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|-----------------|-------------------|------------------|---|-----------------|--|--|--|--|--|
|                                                                                                                                              | September 30, 2020 |                 | December 31, 2019 |
| Assets                                                                                                                                            |               |                 |              |
| Investments at fair value                                                                                                                         |               |                 |              |
| Non-controlled/non-affiliated investments (cost of $2,298,918 and $2,619,408, respectively)                                                   | $                  | 2,247,848  |                   |                  | $ | 2,613,801  |  |
| Non-controlled/affiliated investments (cost of $79,785 and $82,825, respectively)                                                             | 55,769        |                 |                   | 73,527      |   |
| Controlled investments (cost of $599,584 and $449,308, respectively)                                                                              | 593,006       |                 |                   | 472,952     |   |
| Total investments at fair value (cost of $2,978,287 and $3,151,541, respectively)                                                                 | 2,896,623     |                 |                   | 3,160,280   |   |
| Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively)                                        | 21,422        |                 |                   | 21,422      |   |
| Cash and cash equivalents                                                                                                                         | 68,664        |                 |                   | 48,574      |   |
| Interest and dividend receivable                                                                                                                  | 33,568        |                 |                   | 31,800      |   |
| Receivable from unsettled securities sold                                                                                                         | 4,490         |                 |                   | —     |   |
| Receivable from affiliates                                                                                                                        | 513           |                 |                   | 277         |   |
| Other assets                                                                                                                                      | 7,211         |                 |                   | 3,702       |   |
| Total assets                                                                                                                                      | $                  | 3,032,491  |                   |                  | $ | 3,266,055  |  |
| Liabilities                                                                                                                                       |               |                 |              |
| Borrowings                                                                                                                                        |                    |                 |                   |
|      Holdings Credit Facility                                                                                            | $                  | 459,163    |                   |                  | $ | 661,563    |  |
|      Unsecured Notes                                                                                                     | 453,250       |                 |                   | 453,250     |   |
|      SBA-guaranteed debentures                                                                                           | 300,000       |                 |                   | 225,000     |   |
|      DB Credit Facility                                                                                                  | 242,000       |                 |                   | 230,000     |   |
|      Convertible Notes                                                                                                   | 201,545       |                 |                   | 201,623     |   |
|      NMFC Credit Facility                                                                                                | 150,500       |                 |                   | 188,500     |   |
|                                                                                                                                                   |                    |                 |                   |
|      Deferred financing costs (net of accumulated amortization of $31,939 and $28,390, respectively)                     | (18,222)           |                 |                   | (17,640)         |   |
| Net borrowings                                                                                                                                    | 1,788,236     |                 |                   | 1,942,296   |   |
| Payable for unsettled securities purchased                                                                                                        | —       |                 |                   | 1,780       |   |
| Management fee payable                                                                                                                            | 19,988        |                 |                   | 10,298      |   |
| Incentive fee payable                                                                                                                             | 13,531        |                 |                   | 7,646       |   |
| Interest payable                                                                                                                                  | 10,141        |                 |                   | 16,484      |   |
| Payable to affiliates                                                                                                                             | 1,163         |                 |                   | 673         |   |
| Deferred tax liability                                                                                                                            | 134           |                 |                   | 912         |   |
| Other liabilities                                                                                                                                 | 2,138         |                 |                   | 2,498       |   |
| Total liabilities                                                                                                                                 | 1,835,331     |                 |                   | 1,982,587   |   |
| Commitments and contingencies (See Note 9)                                                                                                        |               |                 |              |
| Net assets                                                                                                                                        |               |                 |              |
| Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued                                                              | —       |                 |                   | —     |   |
| Common stock, par value $0.01 per share, 200,000,000 shares authorized, and 96,827,342 and 96,827,342 shares issued and outstanding, respectively | 968           |                 |                   | 968         |   |
| Paid in capital in excess of par                                                                                                                  | 1,287,853     |                 |                   | 1,287,853   |   |
|                                                                                                                                                   |                    |                 |                   |
| Accumulated overdistributed earnings                                                                                                              | (104,057)          |                 |                   | (5,353)          |   |
| Total net assets of New Mountain Finance Corporation                                                                                              | 1,184,764     |                 |                   | 1,283,468   |   |
| Non-controlling interest in New Mountain Net Lease Corporation                                                                                    | 12,396        |                 |                   | —     |   |
| Total net assets                                                                                                                                  | $                  | 1,197,160  |                   |                  | $ | 1,283,468  |  |
| Total liabilities and net assets                                                                                                                  | $                  | 3,032,491  |                   |                  | $ | 3,266,055  |  |
| Number of shares outstanding                                                                                                                      | 96,827,342    |                 |                   | 96,827,342  |   |
| Net asset value per share of New Mountain Finance Corporation                                                                                     | $                  | 12.24      |                   |                  | $ | 13.26      |  |

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Table of Contents

|                                                                                                                                          |                    |              |                    |                   |                    |              |                    |  |   |                  |  |  |   |               |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------------|--------------------|-------------------|--------------------|--------------|--------------------|--|---|------------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                                                                                                                                          | Three Months Ended |              | Nine Months Ended  |
|                                                                                                                                          | September 30, 2020 |              | September 30, 2019 |                   | September 30, 2020 |              | September 30, 2019 |
| Investment income                                                                                                                   |                    |              |                    |                   |                    |              |                    |
| From non-controlled/non-affiliated investments:                                                                                  |                    |              |                    |                   |                    |              |                    |
| Interest income (excluding Payment-in-kind ("PIK") interest income)                                                              | $                  | 41,854  |                    |                   | $                  | 50,096  |                    |  | $ | 144,383     |  |  | $ | 140,602  |  |
| PIK interest income                                                                                                                      | 2,547         |              |                    | 1,356        |                    |              | 6,464         |  |   | 3,325       |  |
|                                                                                                                                          |                    |              |                    |                   |                    |              |                    |
| Non-cash dividend income                                                                                                                 | 2,274         |              |                    | 2,239        |                    |              | 6,898         |  |   | 6,282       |  |
| Other income                                                                                                                             | 1,497         |              |                    | 3,599        |                    |              | 4,085         |  |   | 7,694       |  |
| From non-controlled/affiliated investments:                                                                                      |                    |              |                    |                   |                    |              |                    |
| Interest income (excluding PIK interest income)                                                                                          | 781           |              |                    | 659          |                    |              | 1,963         |  |   | 1,979       |  |
| PIK interest income                                                                                                                      | 217           |              |                    | 392          |                    |              | (1,131)            |  |   | 1,109       |  |
| Dividend income                                                                                                                          | 687           |              |                    | 788          |                    |              | 2,096         |  |   | 2,326       |  |
| Non-cash dividend income                                                                                                                 | —       |              |                    | 309          |                    |              | (3,418)            |  |   | 901         |  |
| Other income                                                                                                                             | 427           |              |                    | 342          |                    |              | 1,002         |  |   | 934         |  |
| From controlled investments:                                                                                                         |                    |              |                    |                   |                    |              |                    |
| Interest income (excluding PIK interest income)                                                                                          | 2,011         |              |                    | 720          |                    |              | 4,581         |  |   | 2,323       |  |
| PIK interest income                                                                                                                      | 2,244         |              |                    | 1,997        |                    |              | 6,393         |  |   | 5,441       |  |
| Dividend income                                                                                                                          | 8,107         |              |                    | 7,661        |                    |              | 24,061        |  |   | 23,383      |  |
| Non-cash dividend income                                                                                                                 | 1,576         |              |                    | 2,273        |                    |              | 5,716         |  |   | 6,446       |  |
| Other income                                                                                                                             | 1,299         |              |                    | 163          |                    |              | 2,479         |  |   | 505         |  |
| Total investment income                                                                                                                  | 65,521        |              |                    | 72,594       |                    |              | 205,572       |  |   | 203,250     |  |
| Expenses                                                                                                                                 |                    |              |                    |                   |                    |              |                    |
| Incentive fee                                                                                                                            | 7,135         |              |                    | 7,792        |                    |              | 21,857        |  |   | 21,642      |  |
| Management fee                                                                                                                           | 12,877        |              |                    | 12,687       |                    |              | 39,869        |  |   | 35,302      |  |
| Interest and other financing expenses                                                                                                    | 18,077        |              |                    | 21,830       |                    |              | 59,500        |  |   | 61,695      |  |
| Administrative expenses                                                                                                                  | 1,024         |              |                    | 930          |                    |              | 3,303         |  |   | 3,074       |  |
| Professional fees                                                                                                                        | 731           |              |                    | 834          |                    |              | 2,605         |  |   | 2,486       |  |
| Other general and administrative expenses                                                                                                | 442           |              |                    | 492          |                    |              | 1,383         |  |   | 1,302       |  |
| Total expenses                                                                                                                           | 40,286        |              |                    | 44,565       |                    |              | 128,517       |  |   | 125,501     |  |
| Less: management and incentive fees waived (See Note 5)                                                                              | (3,341)            |              |                    | (3,141)           |                    |              | (10,067)           |  |   | (8,497)          |  |
| Less: expenses waived and reimbursed (See Note 5)                                                                               | (589)              |              |                    | —      |                    |              | (924)              |  |   | (335)            |  |
| Net expenses                                                                                                                             | 36,356        |              |                    | 41,424       |                    |              | 117,526       |  |   | 116,669     |  |
| Net investment income before income taxes                                                                                                | 29,165        |              |                    | 31,170       |                    |              | 88,046        |  |   | 86,581      |  |
| Income tax expense                                                                                                                       | 123           |              |                    | —      |                    |              | 116           |  |   | 13          |  |
| Net investment income                                                                                                                    | 29,042        |              |                    | 31,170       |                    |              | 87,930        |  |   | 86,568      |  |
| Net realized gains (losses):                                                                                                         |                    |              |                    |                   |                    |              |                    |
| Non-controlled/non-affiliated investments                                                                                            | 30            |              |                    | 349          |                    |              | (4,431)            |  |   | 439         |  |
| Non-controlled/affiliated investments                                                                                                | 12            |              |                    | —      |                    |              | 12            |  |   | —     |  |
| Controlled investments                                                                                                                   | 5             |              |                    | 6            |                    |              | 12            |  |   | 14          |  |
| New Mountain Net Lease Corporation                                                                                                       | —       |              |                    | —      |                    |              | 812           |  |   | —     |  |
| Net change in unrealized appreciation (depreciation):                                                                                |                    |              |                    |                   |                    |              |                    |
| Non-controlled/non-affiliated investments                                                                                       | 21,410        |              |                    | (8,334)           |                    |              | (67,407)           |  |   | 4,106       |  |
| Non-controlled/affiliated investments                                                                                                | (1,111)            |              |                    | (143)             |                    |              | (14,718)           |  |   | (2,671)          |  |
| Controlled investments                                                                                                                   | 39,943        |              |                    | 1,453        |                    |              | (8,278)            |  |   | 3,870       |  |
| Securities purchased under collateralized agreements to resell                                                                           | —       |              |                    | (1,332)           |                    |              | —       |  |   | (1,332)          |  |
| New Mountain Net Lease Corporation                                                                                                       | —       |              |                    | —      |                    |              | (812)              |  |   | —     |  |
| Benefit for taxes                                                                                                                        | 257           |              |                    | 281          |                    |              | 778           |  |   | 121         |  |
| Net realized and unrealized gains (losses)                                                                                               | 60,546        |              |                    | (7,720)           |                    |              | (94,032)           |  |   | 4,547       |  |
| Net increase (decrease) in net assets resulting from operations                                                                          | 89,588        |              |                    | 23,450       |                    |              | (6,102)            |  |   | 91,115      |  |
| Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation | (1,398)            |              |                    | —      |                    |              | (1,584)            |  |   | —     |  |
| Net increase (decrease) in net assets resulting from operations related to New Mountain Finance Corporation                              | $                  | 88,190  |                    |                   | $                  | 23,450  |                    |  | $ | (7,686)          |  |  | $ | 91,115   |  |
| Basic earnings (loss) per share                                                                                                          | $                  | 0.91    |                    |                   | $                  | 0.27    |                    |  | $ | (0.08)           |  |  | $ | 1.11     |  |
| Weighted average shares of common stock outstanding - basic (See Note 11)                                                                | 96,827,342    |              |                    | 86,987,841   |                    |              | 96,827,342    |  |   | 82,020,549  |  |
| Diluted earnings (loss) per share                                                                                                        | $                  | 0.82    |                    |                   | $                  | 0.26    |                    |  | $ | (0.08)           |  |  | $ | 1.01     |  |
| Weighted average shares of common stock outstanding - diluted (See Note 11)                                                              | 110,084,927   |              |                    | 100,245,426  |                    |              | 110,084,927   |  |   | 97,948,225  |  |
| Distributions declared and paid per share                                                                                                | $                  | 0.30    |                    |                   | $                  | 0.34    |                    |  | $ | 0.94        |  |  | $ | 1.02     |  |

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Table of Contents

|                                                                                                                                          |                    |                 |                    |                 |                    |                 |                    |  |   |                  |  |  |   |                 |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------|--------------------|-----------------|--------------------|-----------------|--------------------|-----------------|--------------------|--|---|------------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|
|                                                                                                                                          | Three Months Ended |                 | Nine Months Ended  |
|                                                                                                                                          | September 30, 2020 |                 | September 30, 2019 |                 | September 30, 2020 |                 | September 30, 2019 |
| Increase (decrease) in net assets resulting from operations:                                                                         |                    |                 |                    |                 |                    |                 |                    |
| Net investment income                                                                                                                    | $                  | 29,042     |                    |                 | $                  | 31,170     |                    |  | $ | 87,930      |  |  | $ | 86,568     |  |
| Net realized gains (losses) on investments and New Mountain Net Lease Corporation                                                        | 47            |                 |                    | 355        |                    |                 | (3,595)            |  |   | 453         |  |
| Net change in unrealized appreciation (depreciation) of investments and New Mountain Net Lease Corporation                               | 60,242        |                 |                    | (7,024)         |                    |                 | (91,215)           |  |   | 5,305       |  |
| Net change in unrealized depreciation of securities purchased under collateralized agreements to resell                                  | —       |                 |                    | (1,332)         |                    |                 | —       |  |   | (1,332)          |  |
| Benefit for taxes                                                                                                                        | 257           |                 |                    | 281        |                    |                 | 778           |  |   | 121         |  |
| Net increase (decrease) in net assets resulting from operations                                                                          | 89,588        |                 |                    | 23,450     |                    |                 | (6,102)            |  |   | 91,115      |  |
| Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation | (1,398)            |                 |                    | —    |                    |                 | (1,584)            |  |   | —     |  |
| Net increase (decrease) in net assets resulting from operations related to New Mountain Finance Corporation                              | 88,190        |                 |                    | 23,450     |                    |                 | (7,686)            |  |   | 91,115      |  |
| Capital transactions                                                                                                                     |                    |                 |                    |                 |                    |                 |                    |
| Net proceeds from shares sold                                                                                                            | —       |                 |                    | 94,185     |                    |                 | —       |  |   | 153,482     |  |
| Deferred offering costs                                                                                                                  | —       |                 |                    | (315)           |                    |                 | —       |  |   | (544)            |  |
| Distributions declared to stockholders from net investment income                                                                        | (29,049)           |                 |                    | (29,753)        |                    |                 | (91,018)           |  |   | (84,472)         |  |
| Reinvestment of distributions                                                                                                            | —       |                 |                    | 795        |                    |                 | —       |  |   | 3,429       |  |
|                                                                                                                                          |                    |                 |                    |                 |                    |                 |                    |
|                                                                                                                                          |                    |                 |                    |                 |                    |                 |                    |
| Total net (decrease) increase in net assets resulting from capital transactions                                                          | (29,049)           |                 |                    | 64,912     |                    |                 | (91,018)           |  |   | 71,895      |  |
| Net increase (decrease) in net assets                                                                                                    | 59,141        |                 |                    | 88,362     |                    |                 | (98,704)           |  |   | 163,010     |  |
| New Mountain Finance Corporation net assets at the beginning of the period                                                               | 1,125,623     |                 |                    | 1,080,917  |                    |                 | 1,283,468     |  |   | 1,006,269   |  |
| New Mountain Finance Corporation net assets at the end of the period                                                                     | 1,184,764     |                 |                    | 1,169,279  |                    |                 | 1,184,764     |  |   | 1,169,279   |  |
| Non-controlling interest in New Mountain Net Lease Corporation                                                                           | 12,396        |                 |                    | —    |                    |                 | 12,396        |  |   | —     |  |
| Net assets at the end of the period                                                                                                      | $                  | 1,197,160  |                    |                 | $                  | 1,169,279  |                    |  | $ | 1,197,160   |  |  | $ | 1,169,279  |  |
|                                                                                                                                          |                    |                 |                    |                 |                    |                 |                    |
| Capital share activity                                                                                                                   |                    |                 |                    |                 |                    |                 |                    |
| Shares sold                                                                                                                              | —       |                 |                    | 6,900,000  |                    |                 | —       |  |   | 11,212,500  |  |
| Shares issued from the reinvestment of distributions                                                                                     | —       |                 |                    | 58,393     |                    |                 | —       |  |   | 249,823     |  |
|                                                                                                                                          |                    |                 |                    |                 |                    |                 |                    |
|                                                                                                                                          |                    |                 |                    |                 |                    |                 |                    |
| Net increase in shares outstanding                                                                                                       | —       |                 |                    | 6,958,393  |                    |                 | —       |  |   | 11,462,323  |  |

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Table of Contents

|                                                                                                                                                      |                    |               |                    |               |   |              |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|---------------|--------------------|---------------|---|--------------|--|--|--|--|--|
|                                                                                                                                                      | Nine Months Ended  |
|                                                                                                                                                      | September 30, 2020 |               | September 30, 2019 |
| Cash flows from operating activities                                                                                                                 |                    |               |                    |
| Net (decrease) increase in net assets resulting from operations                                                                                      | $                  | (6,102)       |                    |               | $ | 91,115  |  |
| Adjustments to reconcile net decrease (increase) in net assets resulting from operations to net cash provided by (used in) operating activities: |                    |               |                    |
| Net realized losses (gains) on investments and New Mountain Net Lease Corporation                                                                    | 3,595         |               |                    | (453)         |   |
| Net change in unrealized depreciation (appreciation) of investments and New Mountain Net Lease Corporation                                           | 91,215        |               |                    | (5,305)       |   |
| Net change in unrealized depreciation of securities purchased under collateralized agreements to resell                                              | —       |               |                    | 1,332    |   |
| Amortization of purchase discount                                                                                                                    | (7,942)            |               |                    | (3,684)       |   |
| Amortization of deferred financing costs                                                                                                             | 3,549         |               |                    | 4,699    |   |
| Amortization of premium on Convertible Notes                                                                                                         | (78)               |               |                    | (83)          |   |
| Non-cash investment income                                                                                                                           | (22,016)           |               |                    | (22,075)      |   |
| (Increase) decrease in operating assets:                                                                                                         |                    |               |                    |
| Proceeds from sale of non-controlling interest in New Mountain Net Lease Corporation                                                                 | 11,315        |               |                    | —  |   |
| Purchase of investments and delayed draw facilities                                                                                                  | (259,127)          |               |                    | (827,462)     |   |
| Proceeds from sales and paydowns of investments                                                                                                      | 480,333       |               |                    | 207,785  |   |
| Cash received for purchase of undrawn portion of revolving credit or delayed draw facilities                                                         | 296           |               |                    | 195      |   |
| Cash paid for purchase of drawn portion of revolving credit facilities                                                                               | (13,996)           |               |                    | (338)         |   |
| Cash paid on drawn revolvers                                                                                                                         | (43,952)           |               |                    | (18,574)      |   |
| Cash repayments on drawn revolvers                                                                                                                   | 35,251        |               |                    | 13,684   |   |
| Interest and dividend receivable                                                                                                                     | (1,768)            |               |                    | (7,249)       |   |
| Receivable from unsettled securities sold                                                                                                            | (4,490)            |               |                    | —  |   |
| Receivable from affiliates                                                                                                                           | (236)              |               |                    | (298)         |   |
| Other assets                                                                                                                                         | (3,290)            |               |                    | (1,054)       |   |
| Increase (decrease) in operating liabilities:                                                                                                    |                    |               |                    |
| Management fee payable                                                                                                                               | 9,690         |               |                    | 9,971    |   |
| Incentive fee payable                                                                                                                                | 5,885         |               |                    | 7,915    |   |
| Payable for unsettled securities purchased                                                                                                           | (1,780)            |               |                    | 79,520   |   |
| Payable to affiliates                                                                                                                                | 490           |               |                    | 189      |   |
| Interest payable                                                                                                                                     | (6,343)            |               |                    | (425)         |   |
| Deferred tax liability                                                                                                                               | (778)              |               |                    | (121)         |   |
| Other liabilities                                                                                                                                    | 400           |               |                    | (2,885)       |   |
| Distributions related to non-controlling interest in New Mountain Net Lease Corporation                                                              | (503)              |               |                    | —  |   |
| Net cash flows provided by (used in) operating activities                                                                                            | 269,618       |               |                    | (473,601)     |   |
| Cash flows from financing activities                                                                                                                 |                    |               |                    |
| Net proceeds from shares sold                                                                                                                        | —       |               |                    | 153,482  |   |
| Distributions paid                                                                                                                                   | (91,018)           |               |                    | (81,043)      |   |
| Offering costs paid                                                                                                                                  | (203)              |               |                    | (606)         |   |
| Proceeds from Holdings Credit Facility                                                                                                               | 16,000        |               |                    | 222,500  |   |
| Repayment of Holdings Credit Facility                                                                                                                | (218,400)          |               |                    | (97,500)      |   |
| Proceeds from Convertible Notes                                                                                                                      | —       |               |                    | 86,681   |   |
| Repayment of Convertible Notes                                                                                                                       | —       |               |                    | (155,250)     |   |
| Proceeds from Unsecured Notes                                                                                                                        | —       |               |                    | 116,500  |   |
| Proceeds from SBA-guaranteed debentures                                                                                                              | 75,000        |               |                    | 19,000   |   |
| Proceeds from NMFC Credit Facility                                                                                                                   | 97,000        |               |                    | 268,500  |   |
| Repayment of NMFC Credit Facility                                                                                                                    | (135,000)          |               |                    | (190,000)     |   |
| Proceeds from DB Credit Facility                                                                                                                     | 67,000        |               |                    | 232,000  |   |
| Repayment of DB Credit Facility                                                                                                                      | (55,000)           |               |                    | (87,000)      |   |
| Proceeds from NMNLC Credit Facility                                                                                                                  | —       |               |                    | 10,600   |   |
|                                                                                                                                                      |                    |               |                    |
|                                                                                                                                                      |                    |               |                    |
| Deferred financing costs paid                                                                                                                        | (4,907)            |               |                    | (4,112)       |   |
|                                                                                                                                                      |                    |               |                    |
| Net cash flows (used in) provided by financing activities                                                                                            | (249,528)          |               |                    | 493,752  |   |
| Net increase in cash and cash equivalents                                                                                                            | 20,090        |               |                    | 20,151   |   |
| Cash and cash equivalents at the beginning of the period                                                                                             | 48,574        |               |                    | 49,664   |   |
| Cash and cash equivalents at the end of the period                                                                                                   | $                  | 68,664   |                    |               | $ | 69,815  |  |
| Supplemental disclosure of cash flow information                                                                                                     |                    |               |                    |
| Cash interest paid                                                                                                                                   | $                  | 60,940   |                    |               | $ | 58,037  |  |
| Income taxes paid                                                                                                                                    | 129           |               |                    | 10       |   |
|                                                                                                                                                      |                    |               |                    |
|                                                                                                                                                      |                    |               |                    |
| Non-cash financing activities:                                                                                                                   |                    |               |                    |
|                                                                                                                                                      |                    |               |                    |
| Value of shares reissued from repurchase program in connection with the distribution reinvestment plan                                               | $                  | —  |                    |               | $ | 3,429   |  |
| Accrual for offering costs                                                                                                                           | 80            |               |                    | 49       |   |
| Accrual for deferred financing costs                                                                                                                 | 11            |               |                    | 19       |   |

----

Table of Contents

|                                                                     |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--|--------------------------------|--|-------------------------|--|-------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)                        |  | Type of Investment             |  | Interest Rate (12)      |  | Acquisition Date  |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                                                     |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Non-Controlled/Non-Affiliated Investments                       |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Funded Debt Investments - Canada                                    |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Dentalcorp Health Services ULC (fka Dentalcorp Perfect Smile ULC)** |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                                 |  | Second lien (3)(10)            |  | 8.50% (L + 7.50%/M) |  | 6/1/2018  |  | 6/8/2026               |  | $                                           | 28,613  |            |              | $                | 28,410  |                      |  | $ | 26,810  |   |  |            |
|                                                                     |  | Second lien (8)(10)            |  | 8.50% (L + 7.50%/M) |  | 6/1/2018  |  | 6/8/2026               |  | 7,500                                  |              |            | 7,450   |                  |              | 7,027           |  |   |              |
|                                                                     |  |                                |  |                         |  |                   |  |                                |  | 36,113                                 |              |            | 35,860  |                  |              | 33,837          |  |   | 2.83    | % |
| Wolfpack IP Co.**                                                   |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                            |  | First lien (2)(10)             |  | 7.00% (L + 6.00%/S) |  | 6/14/2019 |  | 6/13/2025              |  | 9,091                                  |              |            | 9,016   |                  |              | 9,091           |  |   | 0.76    | % |
| Total Funded Debt Investments - Canada                              |  |                                |  |                         |  |                   |  |                                |  | $                                           | 45,204  |            |              | $                | 44,876  |                      |  | $ | 42,928  |   |  | 3.59  | % |
| Funded Debt Investments - United Arab Emirates                      |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| GEMS Menasa (Cayman) Limited**                                      |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Education                                                           |  | First lien (8)                 |  | 6.00% (L + 5.00%/S) |  | 7/30/2019 |  | 7/31/2026              |  | $                                           | 22,451  |            |              | $                | 22,353  |                      |  | $ | 21,806  |   |  | 1.82  | % |
| Total Funded Debt Investments - United Arab Emirates                |  |                                |  |                         |  |                   |  |                                |  | $                                           | 22,451  |            |              | $                | 22,353  |                      |  | $ | 21,806  |   |  | 1.82  | % |
| Funded Debt Investments - United Kingdom                            |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Shine Acquisition Co. S.à.r.l / Boing US Holdco Inc.**     |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Consumer Services                                                   |  | Second lien (2)(10)            |  | 8.50% (L + 7.50%/M) |  | 9/25/2017 |  | 10/3/2025              |  | $                                           | 37,853  |            |              | $                | 37,690  |                      |  | $ | 37,853  |   |  |            |
|                                                                     |  | Second lien (8)(10)            |  | 8.50% (L + 7.50%/M) |  | 9/25/2017 |  | 10/3/2025              |  | 6,000                                  |              |            | 5,974   |                  |              | 6,000           |  |   |              |
|                                                                     |  |                                |  |                         |  |                   |  |                                |  | 43,853                                 |              |            | 43,664  |                  |              | 43,853          |  |   | 3.66    | % |
| Aston FinCo S.a r.l. / Aston US Finco, LLC**                    |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                            |  | Second lien (8)(10)            |  | 8.40% (L + 8.25%/M) |  | 10/8/2019 |  | 10/8/2027              |  | 34,459                                 |              |            | 34,206  |                  |              | 34,201          |  |   | 2.86    | % |
| Total Funded Debt Investments - United Kingdom                      |  |                                |  |                         |  |                   |  |                                |  | $                                           | 78,312  |            |              | $                | 77,870  |                      |  | $ | 78,054  |   |  | 6.52  | % |
| Funded Debt Investments - United States                             |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| GS Acquisitionco, Inc.                                              |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                            |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/S) |  | 8/7/2019  |  | 5/24/2024              |  | $                                           | 26,707  |            |              | $                | 26,575  |                      |  | $ | 26,707  |   |  |            |
|                                                                     |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/S) |  | 8/7/2019  |  | 5/24/2024              |  | 26,016                                 |              |            | 25,875  |                  |              | 26,016          |  |   |              |
|                                                                     |  | First lien (5)(10)             |  | 6.75% (L + 5.75%/S) |  | 8/7/2019  |  | 5/24/2024              |  | 22,250                                 |              |            | 22,140  |                  |              | 22,250          |  |   |              |
|                                                                     |  | First lien (3)(10)             |  | 6.75% (L + 5.75%/S) |  | 8/7/2019  |  | 5/24/2024              |  | 12,681                                 |              |            | 12,605  |                  |              | 12,681          |  |   |              |
|                                                                     |  | First lien (3)(10)(11) - Drawn |  | 6.75% (L + 5.75%/S) |  | 8/7/2019  |  | 5/24/2024              |  | 3,839                                  |              |            | 3,815   |                  |              | 3,839           |  |   |              |
|                                                                     |  |                                |  |                         |  |                   |  |                                |  | 91,493                                 |              |            | 91,010  |                  |              | 91,493          |  |   | 7.64    | % |
| PhyNet Dermatology LLC                                              |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                                 |  | First lien (2)(10)             |  | 6.50% (L + 5.50%/M) |  | 9/17/2018 |  | 8/16/2024              |  | 49,985                                 |              |            | 49,636  |                  |              | 48,685          |  |   |              |
|                                                                     |  | First lien (3)(10)             |  | 6.50% (L + 5.50%/M) |  | 9/17/2018 |  | 8/16/2024              |  | 27,927                                 |              |            | 27,678  |                  |              | 27,201          |  |   |              |
|                                                                     |  |                                |  |                         |  |                   |  |                                |  | 77,912                                 |              |            | 77,314  |                  |              | 75,886          |  |   | 6.34    | % |
|                                                                     |  |                                |  |                         |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|--------------------------------|--|--------------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment             |  | Interest Rate (12)                   |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Associations, Inc.                           |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (2)(10)             |  | 8.00% (L + 4.00% + 3.00% PIK/Q)* |  | 7/30/2018  |  | 7/30/2024              |  | $                                           | 45,582  |            |              | $                | 45,390  |                      |  | $ | 45,581  |   |  |  |
|                                              |  | First lien (8)(10)             |  | 8.00% (L + 4.00% + 3.00% PIK/Q)* |  | 7/30/2018  |  | 7/30/2024              |  | 5,232                                  |              |            | 5,211   |                  |              | 5,232           |  |   |              |
|                                              |  | First lien (2)(10)(11) - Drawn |  | 8.34% (L + 4.00% + 3.00% PIK/Q)* |  | 7/30/2018  |  | 7/30/2024              |  | 10,360                                 |              |            | 10,310  |                  |              | 10,360          |  |   |              |
|                                              |  | First lien (2)(10)(11) - Drawn |  | 7.00% (L + 6.00%/Q)              |  | 7/30/2018  |  | 7/30/2024              |  | 2,033                                  |              |            | 2,020   |                  |              | 2,033           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 63,207                                 |              |            | 62,931  |                  |              | 63,206          |  |   | 5.28    | % |
| ConnectWise, LLC                             |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (2)(10)             |  | 7.00% (L + 6.00%/Q)              |  | 11/26/2019 |  | 2/28/2025              |  | 55,193                                 |              |            | 54,896  |                  |              | 54,851          |  |   | 4.58    | % |
| CentralSquare Technologies, LLC              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | Second lien (3)(10)            |  | 7.65% (L + 7.50%/M)              |  | 8/15/2018  |  | 8/31/2026              |  | 47,838                                 |              |            | 47,345  |                  |              | 45,049          |  |   |              |
|                                              |  | Second lien (8)(10)            |  | 7.65% (L + 7.50%/M)              |  | 8/15/2018  |  | 8/31/2026              |  | 7,500                                  |              |            | 7,423   |                  |              | 7,063           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 55,338                                 |              |            | 54,768  |                  |              | 52,112          |  |   | 4.35    | % |
| iCIMS, Inc.                                  |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (8)(10)             |  | 7.50% (L + 6.50%/S)              |  | 9/12/2018  |  | 9/12/2024              |  | 41,636                                 |              |            | 41,323  |                  |              | 41,656          |  |   |              |
|                                              |  | First lien (8)(10)             |  | 7.50% (L + 6.50%/S)              |  | 6/14/2019  |  | 9/12/2024              |  | 8,667                                  |              |            | 8,598   |                  |              | 8,671           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 50,303                                 |              |            | 49,921  |                  |              | 50,327          |  |   | 4.21    | % |
| Salient CRGT Inc.                            |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Federal Services                             |  | First lien (2)(10)             |  | 7.50% (L + 6.50%/S)              |  | 1/6/2015   |  | 2/28/2022              |  | 37,909                                 |              |            | 37,739  |                  |              | 37,366          |  |   |              |
|                                              |  | First lien (8)(10)             |  | 7.50% (L + 6.50%/S)              |  | 6/6/2019   |  | 2/28/2022              |  | 12,954                                 |              |            | 12,666  |                  |              | 12,769          |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 50,863                                 |              |            | 50,405  |                  |              | 50,135          |  |   | 4.19    | % |
| DCA Investment Holding, LLC                  |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                          |  | First lien (8)(10)             |  | 6.29% (L + 5.25%/S)              |  | 4/16/2019  |  | 7/2/2021               |  | 20,367                                 |              |            | 20,257  |                  |              | 19,164          |  |   |              |
|                                              |  | First lien (2)(10)             |  | 6.25% (L + 5.25%/S)              |  | 7/2/2015   |  | 7/2/2021               |  | 16,961                                 |              |            | 16,936  |                  |              | 15,958          |  |   |              |
|                                              |  | First lien (8)(10)             |  | 6.25% (L + 5.25%/S)              |  | 12/20/2017 |  | 7/2/2021               |  | 8,823                                  |              |            | 8,795   |                  |              | 8,302           |  |   |              |
|                                              |  | First lien (2)(10)             |  | 6.25% (L + 5.25%/S)              |  | 12/20/2017 |  | 7/2/2021               |  | 4,152                                  |              |            | 4,142   |                  |              | 3,907           |  |   |              |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 6.25% (L + 5.25%/S)              |  | 7/2/2015   |  | 7/2/2021               |  | 2,056                                  |              |            | 2,036   |                  |              | 1,935           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 52,359                                 |              |            | 52,166  |                  |              | 49,266          |  |   | 4.12    | % |
| Frontline Technologies Group Holdings, LLC   |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (4)(10)             |  | 6.75% (L + 5.75%/Q)              |  | 9/18/2017  |  | 9/18/2023              |  | 21,995                                 |              |            | 21,905  |                  |              | 21,995          |  |   |              |
|                                              |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/Q)              |  | 9/18/2017  |  | 9/18/2023              |  | 18,537                                 |              |            | 18,490  |                  |              | 18,537          |  |   |              |
|                                              |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/Q)              |  | 9/18/2017  |  | 9/18/2023              |  | 7,652                                  |              |            | 7,610   |                  |              | 7,652           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 48,184                                 |              |            | 48,005  |                  |              | 48,184          |  |   | 4.03    | % |
|                                              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                                    |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|--|---------------------|--|--------------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)       |  | Type of Investment  |  | Interest Rate (12)                   |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| NM GRC Holdco, LLC                                 |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                  |  | First lien (2)(10)  |  | 8.50% (L + 6.00% + 1.50% PIK/Q)* |  | 2/9/2018   |  | 2/9/2024               |  | $                                           | 38,318  |            |              | $                | 38,201  |                      |  | $ | 35,751  |   |  |  |
|                                                    |  | First lien (2)(10)  |  | 8.50% (L + 6.00% + 1.50% PIK/Q)* |  | 2/9/2018   |  | 2/9/2024               |  | 10,650                                 |              |            | 10,615  |                  |              | 9,937           |  |   |              |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  | 48,968                                 |              |            | 48,816  |                  |              | 45,688          |  |   | 3.82    | % |
| Brave Parent Holdings, Inc.                        |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                           |  | Second lien (5)(10) |  | 7.65% (L + 7.50%/M)              |  | 4/17/2018  |  | 4/17/2026              |  | 22,500                                 |              |            | 22,413  |                  |              | 22,397          |  |   |              |
|                                                    |  | Second lien (2)(10) |  | 7.65% (L + 7.50%/M)              |  | 4/17/2018  |  | 4/17/2026              |  | 16,624                                 |              |            | 16,493  |                  |              | 16,547          |  |   |              |
|                                                    |  | Second lien (8)(10) |  | 7.65% (L + 7.50%/M)              |  | 4/17/2018  |  | 4/17/2026              |  | 6,000                                  |              |            | 5,953   |                  |              | 5,972           |  |   |              |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  | 45,124                                 |              |            | 44,859  |                  |              | 44,916          |  |   | 3.75    | % |
| Integro Parent Inc.                                |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                  |  | First lien (2)(10)  |  | 6.75% (L + 5.75%/M)              |  | 10/9/2015  |  | 10/31/2022             |  | 34,617                                 |              |            | 34,520  |                  |              | 34,617          |  |   |              |
|                                                    |  | Second lien (8)(10) |  | 10.25% (L + 9.25%/M)             |  | 10/9/2015  |  | 10/30/2023             |  | 10,000                                 |              |            | 9,951   |                  |              | 10,000          |  |   |              |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  | 44,617                                 |              |            | 44,471  |                  |              | 44,617          |  |   | 3.73    | % |
| Quest Software US Holdings Inc.                    |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                           |  | Second lien (2)(10) |  | 8.51% (L + 8.25%/Q)              |  | 5/17/2018  |  | 5/18/2026              |  | 43,697                                 |              |            | 43,354  |                  |              | 43,640          |  |   | 3.65    | % |
| Tenawa Resource Holdings LLC (14)                  |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Tenawa Resource Management LLC                     |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Specialty Chemicals & Materials                |  | First lien (3)(10)  |  | 10.50% (Base + 8.00%/Q)          |  | 5/12/2014  |  | 10/30/2024             |  | 38,700                                 |              |            | 38,656  |                  |              | 38,700          |  |   | 3.23    | % |
| CoolSys, Inc.                                      |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Industrial Services                                |  | First lien (5)      |  | 7.00% (L + 6.00%/Q)              |  | 11/20/2019 |  | 11/20/2026             |  | 22,331                                 |              |            | 22,230  |                  |              | 22,387          |  |   |              |
|                                                    |  | First lien (2)      |  | 7.00% (L + 6.00%/Q)              |  | 11/20/2019 |  | 11/20/2026             |  | 10,322                                 |              |            | 10,275  |                  |              | 10,348          |  |   |              |
|                                                    |  | First lien (3)      |  | 7.00% (L + 6.00%/Q)              |  | 11/20/2019 |  | 11/20/2026             |  | 4,184                                  |              |            | 4,163   |                  |              | 4,194           |  |   |              |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  | 36,837                                 |              |            | 36,668  |                  |              | 36,929          |  |   | 3.09    | % |
| Trader Interactive, LLC                            |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                  |  | First lien (2)(10)  |  | 7.50% (L + 6.50%/S)              |  | 6/15/2017  |  | 6/17/2024              |  | 31,687                                 |              |            | 31,555  |                  |              | 31,687          |  |   |              |
|                                                    |  | First lien (8)(10)  |  | 7.50% (L + 6.50%/S)              |  | 6/15/2017  |  | 6/17/2024              |  | 4,911                                  |              |            | 4,891   |                  |              | 4,911           |  |   |              |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  | 36,598                                 |              |            | 36,446  |                  |              | 36,598          |  |   | 3.06    | % |
| Peraton Holding Corp. (fka MHVC Acquisition Corp.) |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Federal Services                                   |  | First lien (2)      |  | 6.25% (L + 5.25%/Q)              |  | 4/25/2017  |  | 4/29/2024              |  | 36,623                                 |              |            | 36,517  |                  |              | 36,348          |  |   | 3.04    | % |
| KAMC Holdings, Inc                                 |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                  |  | Second lien (2)(10) |  | 8.26% (L + 8.00%/Q)              |  | 8/14/2019  |  | 8/13/2027              |  | 18,750                                 |              |            | 18,623  |                  |              | 18,043          |  |   |              |
|                                                    |  | Second lien (8)(10) |  | 8.26% (L + 8.00%/Q)              |  | 8/14/2019  |  | 8/13/2027              |  | 18,750                                 |              |            | 18,623  |                  |              | 18,043          |  |   |              |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  | 37,500                                 |              |            | 37,246  |                  |              | 36,086          |  |   | 3.01    | % |
|                                                    |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|--------------------------------|--|--------------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment             |  | Interest Rate (12)                   |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Definitive Healthcare Holdings, LLC          |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Information Technology            |  | First lien (8)(10)             |  | 6.50% (L + 5.50%/M)              |  | 8/7/2019   |  | 7/16/2026              |  | $                                           | 33,698  |            |              | $                | 33,555  |                      |  | $ | 33,698  |   |  |  |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 6.50% (L + 5.50%/Q)              |  | 8/7/2019   |  | 7/16/2024              |  | 1,848                                  |              |            | 1,839   |                  |              | 1,848           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 35,546                                 |              |            | 35,394  |                  |              | 35,546          |  |   | 2.97    | % |
| Affinity Dental Management, Inc.             |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                          |  | First lien (2)(10)             |  | 10.25% (P + 7.00%/S)             |  | 9/15/2017  |  | 9/15/2023              |  | 26,290                                 |              |            | 26,246  |                  |              | 23,364          |  |   |              |
|                                              |  | First lien (4)(10)             |  | 10.25% (P + 7.00%/S)             |  | 9/17/2019  |  | 9/15/2023              |  | 10,619                                 |              |            | 10,619  |                  |              | 9,437           |  |   |              |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 10.25% (P + 7.00%/Q)             |  | 9/15/2017  |  | 3/15/2023              |  | 1,738                                  |              |            | 1,720   |                  |              | 1,544           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 38,647                                 |              |            | 38,585  |                  |              | 34,345          |  |   | 2.87    | % |
| Finalsite Holdings, Inc.                     |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (4)(10)             |  | 6.50% (L + 5.50%/Q)              |  | 9/28/2018  |  | 9/25/2024              |  | 22,050                                 |              |            | 21,932  |                  |              | 22,050          |  |   |              |
|                                              |  | First lien (2)(10)             |  | 6.50% (L + 5.50%/Q)              |  | 9/28/2018  |  | 9/25/2024              |  | 10,891                                 |              |            | 10,833  |                  |              | 10,891          |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 32,941                                 |              |            | 32,765  |                  |              | 32,941          |  |   | 2.75    | % |
| TDG Group Holding Company                    |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Consumer Services                            |  | First lien (2)(10)             |  | 5.44% (L + 5.25%/Q)              |  | 5/22/2018  |  | 5/31/2024              |  | 24,670                                 |              |            | 24,589  |                  |              | 24,493          |  |   |              |
|                                              |  | First lien (8)(10)             |  | 5.44% (L + 5.25%/Q)              |  | 5/22/2018  |  | 5/31/2024              |  | 4,912                                  |              |            | 4,896   |                  |              | 4,876           |  |   |              |
|                                              |  | First lien (2)(10)             |  | 5.44% (L + 5.25%/Q)              |  | 5/22/2018  |  | 5/31/2024              |  | 3,295                                  |              |            | 3,284   |                  |              | 3,272           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 32,877                                 |              |            | 32,769  |                  |              | 32,641          |  |   | 2.73    | % |
| GC Waves Holdings, Inc.**                    |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (5)(10)             |  | 6.75% (L + 5.75%/Q)              |  | 10/31/2019 |  | 10/31/2025             |  | 22,388                                 |              |            | 22,241  |                  |              | 22,112          |  |   |              |
|                                              |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/Q)              |  | 10/31/2019 |  | 10/31/2025             |  | 3,654                                  |              |            | 3,631   |                  |              | 3,610           |  |   |              |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 6.75% (L + 5.75%/Q)              |  | 10/31/2019 |  | 10/31/2025             |  | 5,424                                  |              |            | 5,373   |                  |              | 5,358           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 31,466                                 |              |            | 31,245  |                  |              | 31,080          |  |   | 2.60    | % |
| Integral Ad Science, Inc.                    |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (8)(10)             |  | 8.25% (L + 6.00% + 1.25% PIK/S)* |  | 7/19/2018  |  | 7/19/2024              |  | 27,099                                 |              |            | 26,904  |                  |              | 27,302          |  |   |              |
|                                              |  | First lien (3)(10)             |  | 8.25% (L + 6.00% + 1.25% PIK/S)* |  | 8/27/2019  |  | 7/19/2024              |  | 3,540                                  |              |            | 3,512   |                  |              | 3,567           |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 30,639                                 |              |            | 30,416  |                  |              | 30,869          |  |   | 2.58    | % |
| Kaseya Inc.                                  |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (8)(10)             |  | 8.09% (L + 4.00% + 3.00% PIK/S)* |  | 5/9/2019   |  | 5/2/2025               |  | 28,011                                 |              |            | 27,789  |                  |              | 28,291          |  |   |              |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 7.50% (L + 6.50%/S)              |  | 5/9/2019   |  | 5/2/2025               |  | 1,133                                  |              |            | 1,121   |                  |              | 1,133           |  |   |              |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 8.06% (L + 4.00% + 3.00% PIK/S)* |  | 5/9/2019   |  | 5/2/2025               |  | 636                                    |              |            | 630     |                  |              | 642             |  |   |              |
|                                              |  |                                |  |                                      |  |                    |  |                                |  | 29,780                                 |              |            | 29,540  |                  |              | 30,066          |  |   | 2.51    | % |
|                                              |  |                                |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                                            |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------|--|---------------------|--|--------------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)               |  | Type of Investment  |  | Interest Rate (12)                   |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                                            |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Ansira Holdings, Inc.                                      |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                          |  | First lien (8)(10)  |  | 7.50% (L + 6.50% PIK/S)*         |  | 12/19/2016 |  | 12/20/2024             |  | $                                           | 28,944  |            |              | $                | 28,882  |                      |  | $ | 23,656  |   |  |  |
|                                                            |  | First lien (3)(10)  |  | 7.50% (L + 6.50% PIK/S)*         |  | 12/19/2016 |  | 12/20/2024             |  | 7,311                                  |              |            | 7,298   |                  |              | 5,975           |  |   |              |
|                                                            |  |                     |  |                                      |  |                    |  |                                |  | 36,255                                 |              |            | 36,180  |                  |              | 29,631          |  |   | 2.48    | % |
| MRI Software LLC                                           |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                   |  | First lien (5)(10)  |  | 6.50% (L + 5.50%/Q)              |  | 1/31/2020  |  | 2/10/2026              |  | 22,385                                 |              |            | 22,283  |                  |              | 22,450          |  |   |              |
|                                                            |  | First lien (3)(10)  |  | 6.50% (L + 5.50%/Q)              |  | 1/31/2020  |  | 2/10/2026              |  | 4,345                                  |              |            | 4,324   |                  |              | 4,357           |  |   |              |
|                                                            |  | First lien (2)(10)  |  | 6.50% (L + 5.50%/Q)              |  | 1/31/2020  |  | 2/10/2026              |  | 1,619                                  |              |            | 1,611   |                  |              | 1,624           |  |   |              |
|                                                            |  |                     |  |                                      |  |                    |  |                                |  | 28,349                                 |              |            | 28,218  |                  |              | 28,431          |  |   | 2.37    | % |
| Keystone Acquisition Corp.                                 |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                        |  | First lien (2)      |  | 6.25% (L + 5.25%/Q)              |  | 5/10/2017  |  | 5/1/2024               |  | 24,294                                 |              |            | 24,199  |                  |              | 22,108          |  |   |              |
|                                                            |  | Second lien (2)(10) |  | 10.25% (L + 9.25%/Q)             |  | 5/10/2017  |  | 5/1/2025               |  | 4,500                                  |              |            | 4,470   |                  |              | 4,495           |  |   |              |
|                                                            |  |                     |  |                                      |  |                    |  |                                |  | 28,794                                 |              |            | 28,669  |                  |              | 26,603          |  |   | 2.22    | % |
| HS Purchaser, LLC  / Help/Systems Holdings, Inc.   |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                   |  | Second lien (5)     |  | 9.00% (L + 8.00%/Q)              |  | 11/14/2019 |  | 11/19/2027             |  | 22,500                                 |              |            | 22,388  |                  |              | 22,275          |  |   |              |
|                                                            |  | Second lien (2)     |  | 9.00% (L + 8.00%/Q)              |  | 11/14/2019 |  | 11/19/2027             |  | 4,208                                  |              |            | 4,169   |                  |              | 4,166           |  |   |              |
|                                                            |  |                     |  |                                      |  |                    |  |                                |  | 26,708                                 |              |            | 26,557  |                  |              | 26,441          |  |   | 2.21    | % |
| Confluent Health, LLC                                      |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                        |  | First lien (2)      |  | 5.15% (L + 5.00%/M)              |  | 6/21/2019  |  | 6/24/2026              |  | 27,156                                 |              |            | 27,040  |                  |              | 26,138          |  |   | 2.18    | % |
| Instructure, Inc. **                                       |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                   |  | First lien (8)(10)  |  | 8.00% (L + 7.00%/Q)              |  | 3/24/2020  |  | 3/24/2026              |  | 24,150                                 |              |            | 24,010  |                  |              | 24,001          |  |   | 2.00    | % |
| AAC Holding Corp.                                          |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Education                                                  |  | First lien (2)(10)  |  | 9.25% (L + 5.00% + 3.25% PIK/M)* |  | 9/30/2015  |  | 9/30/2022              |  | 26,199                                 |              |            | 26,131  |                  |              | 22,515          |  |   | 1.88    | % |
| Astra Acquisition Corp.                                    |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                   |  | First lien (5)      |  | 6.50% (L + 5.50%/M)              |  | 2/26/2020  |  | 3/1/2027               |  | 22,388                                 |              |            | 22,230  |                  |              | 22,499          |  |   | 1.88    | % |
| Convey Health Solutions, Inc.                              |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                        |  | First lien (4)(10)  |  | 6.25% (L + 5.25%/Q)              |  | 9/9/2019   |  | 9/4/2026               |  | 22,275                                 |              |            | 22,056  |                  |              | 22,275          |  |   | 1.86    | % |
| Idera, Inc.                                                |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                                   |  | Second lien (4)     |  | 10.00% (L + 9.00%/S)             |  | 6/27/2019  |  | 6/28/2027              |  | 22,500                                 |              |            | 22,349  |                  |              | 22,162          |  |   | 1.85    | % |
| Avatar Topco, Inc. (23)                                    |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| EAB Global, Inc.                                           |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Education                                                  |  | Second lien (3)(10) |  | 8.50% (L + 7.50%/Q)              |  | 11/17/2017 |  | 11/17/2025             |  | 13,950                                 |              |            | 13,799  |                  |              | 13,950          |  |   |              |
|                                                            |  | Second lien (8)(10) |  | 8.50% (L + 7.50%/Q)              |  | 11/17/2017 |  | 11/17/2025             |  | 7,500                                  |              |            | 7,419   |                  |              | 7,500           |  |   |              |
|                                                            |  |                     |  |                                      |  |                    |  |                                |  | 21,450                                 |              |            | 21,218  |                  |              | 21,450          |  |   | 1.79    | % |
| Spring Education Group, Inc (fka SSH Group Holdings, Inc.) |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Education                                                  |  | Second lien (2)     |  | 8.47% (L + 8.25%/Q)              |  | 7/26/2018  |  | 7/30/2026              |  | 22,603                                 |              |            | 22,560  |                  |              | 20,908          |  |   | 1.75    | % |
| MED Parentco, LP                                           |  |                     |  |                                      |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                        |  | Second lien (8)(10) |  | 8.40% (L + 8.25%/M)              |  | 8/2/2019   |  | 8/30/2027              |  | 20,857                                 |              |            | 20,714  |                  |              | 20,501          |  |   | 1.71    | % |

----

Table of Contents

|                                              |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|--------------------------------|--|-------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment             |  | Interest Rate (12)      |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                              |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Institutional Shareholder Services, Inc.     |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Second lien (3)(10)            |  | 8.72% (L + 8.50%/Q) |  | 3/5/2019   |  | 3/5/2027               |  | $                                           | 20,372  |            |              | $                | 20,109  |                      |  | $ | 20,372  |   |  | 1.70  | % |
| YLG Holdings, Inc.                           |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (5)(10)             |  | 7.25% (L + 6.25%/S) |  | 11/1/2019  |  | 10/31/2025             |  | 18,275                                 |              |            | 18,195  |                  |              | 18,351          |  |   |              |
|                                              |  | First lien (5)(10)(11) - Drawn |  | 7.25% (L + 6.25%/S) |  | 11/1/2019  |  | 10/31/2025             |  | 1,910                                  |              |            | 1,901   |                  |              | 1,918           |  |   |              |
|                                              |  |                                |  |                         |  |                    |  |                                |  | 20,185                                 |              |            | 20,096  |                  |              | 20,269          |  |   | 1.69    | % |
| CRCI Longhorn Holdings, Inc.                 |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Second lien (3)                |  | 7.40% (L + 7.25%/M) |  | 8/2/2018   |  | 8/10/2026              |  | 14,349                                 |              |            | 14,305  |                  |              | 13,272          |  |   |              |
|                                              |  | Second lien (8)                |  | 7.40% (L + 7.25%/M) |  | 8/2/2018   |  | 8/10/2026              |  | 7,500                                  |              |            | 7,477   |                  |              | 6,938           |  |   |              |
|                                              |  |                                |  |                         |  |                    |  |                                |  | 21,849                                 |              |            | 21,782  |                  |              | 20,210          |  |   | 1.69    | % |
| TMK Hawk Parent, Corp.                       |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Distribution & Logistics                 |  | First lien (2)                 |  | 4.50% (L + 3.50%/M) |  | 6/24/2019  |  | 8/28/2024              |  | 16,779                                 |              |            | 14,705  |                  |              | 9,844           |  |   |              |
|                                              |  | First lien (8)                 |  | 4.50% (L + 3.50%/M) |  | 10/23/2019 |  | 8/28/2024              |  | 16,183                                 |              |            | 13,672  |                  |              | 9,494           |  |   |              |
|                                              |  |                                |  |                         |  |                    |  |                                |  | 32,962                                 |              |            | 28,377  |                  |              | 19,338          |  |   | 1.62    | % |
| Xactly Corporation                           |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (4)(10)             |  | 8.25% (L + 7.25%/S) |  | 7/31/2017  |  | 7/29/2022              |  | 19,047                                 |              |            | 18,958  |                  |              | 19,047          |  |   | 1.59    | % |
| DiversiTech Holdings, Inc.                   |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Distribution & Logistics                 |  | Second lien (2)                |  | 8.50% (L + 7.50%/Q) |  | 5/18/2017  |  | 6/2/2025               |  | 12,000                                 |              |            | 11,920  |                  |              | 11,610          |  |   |              |
|                                              |  | Second lien (8)                |  | 8.50% (L + 7.50%/Q) |  | 5/18/2017  |  | 6/2/2025               |  | 7,500                                  |              |            | 7,450   |                  |              | 7,256           |  |   |              |
|                                              |  |                                |  |                         |  |                    |  |                                |  | 19,500                                 |              |            | 19,370  |                  |              | 18,866          |  |   | 1.58    | % |
| Bluefin Holding, LLC                         |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | Second lien (8)(10)            |  | 7.90% (L + 7.75%/M) |  | 9/6/2019   |  | 9/6/2027               |  | 18,000                                 |              |            | 18,000  |                  |              | 18,000          |  |   | 1.50    | % |
| Bullhorn, Inc.                               |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/Q) |  | 9/24/2019  |  | 9/30/2026              |  | 17,045                                 |              |            | 16,935  |                  |              | 17,045          |  |   |              |
|                                              |  | First lien (3)(10)             |  | 6.75% (L + 5.75%/Q) |  | 9/24/2019  |  | 9/30/2026              |  | 353                                    |              |            | 351     |                  |              | 353             |  |   |              |
|                                              |  | First lien (3)(10)             |  | 6.75% (L + 5.75%/Q) |  | 9/24/2019  |  | 9/30/2026              |  | 282                                    |              |            | 280     |                  |              | 282             |  |   |              |
|                                              |  |                                |  |                         |  |                    |  |                                |  | 17,680                                 |              |            | 17,566  |                  |              | 17,680          |  |   | 1.48    | % |
| FR Arsenal Holdings II Corp.                 |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (2)(10)             |  | 8.25% (L + 7.25%/S) |  | 9/29/2016  |  | 9/8/2022               |  | 18,213                                 |              |            | 18,135  |                  |              | 17,528          |  |   | 1.46    | % |
| The Kleinfelder Group, Inc.                  |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (4)(10)             |  | 5.75% (L + 4.75%/Q) |  | 12/18/2018 |  | 11/29/2024             |  | 17,194                                 |              |            | 17,130  |                  |              | 17,194          |  |   | 1.44    | % |
| Kele Holdco, Inc.                            |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Distribution & Logistics                 |  | First lien (5)(10)             |  | 7.00% (L + 6.00%/M) |  | 2/20/2020  |  | 2/20/2026              |  | 16,152                                 |              |            | 16,077  |                  |              | 16,394          |  |   | 1.37    | % |
| Hill International, Inc.**                   |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/Q) |  | 6/21/2017  |  | 6/21/2023              |  | 15,287                                 |              |            | 15,248  |                  |              | 15,287          |  |   | 1.28    | % |
|                                              |  |                                |  |                         |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                                    |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|--|--------------------------------|--|---------------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)       |  | Type of Investment             |  | Interest Rate (12)                    |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Symplr Software Intermediate Holdings, Inc. (24)   |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Symplr Software, Inc. (fka Caliper Software, Inc.) |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Information Technology                  |  | First lien (4)(10)             |  | 5.72% (L + 5.50%/Q)               |  | 11/30/2018 |  | 11/28/2025             |  | $                                           | 14,738  |            |              | $                | 14,651  |                      |  | $ | 14,738  |   |  |  |
|                                                    |  | First lien (2)(10)             |  | 5.72% (L + 5.50%/Q)               |  | 11/30/2018 |  | 11/28/2025             |  | 481                                    |              |            | 478     |                  |              | 481             |  |   |              |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  | 15,219                                 |              |            | 15,129  |                  |              | 15,219          |  |   | 1.27    | % |
| Netsmart Inc. / Netsmart Technologies, Inc.    |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Information Technology                  |  | Second lien (2)                |  | 9.75% (P + 6.50%/Q)               |  | 4/18/2016  |  | 10/19/2023             |  | 15,000                                 |              |            | 14,814  |                  |              | 15,000          |  |   | 1.25    | % |
| CFS Management, LLC                                |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                |  | First lien (2)(10)             |  | 6.75% (L + 5.75%/S)               |  | 8/6/2019   |  | 7/1/2024               |  | 11,644                                 |              |            | 11,598  |                  |              | 11,384          |  |   |              |
|                                                    |  | First lien (3)(10)             |  | 6.75% (L + 5.75%/S)               |  | 8/6/2019   |  | 7/1/2024               |  | 3,468                                  |              |            | 3,451   |                  |              | 3,391           |  |   |              |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  | 15,112                                 |              |            | 15,049  |                  |              | 14,775          |  |   | 1.23    | % |
| Bleriot US Bidco Inc.                              |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Federal Services                                   |  | Second lien (2)                |  | 8.72% (L + 8.50%/Q)               |  | 10/24/2019 |  | 10/29/2027             |  | 15,000                                 |              |            | 14,862  |                  |              | 14,588          |  |   | 1.22    | % |
| BackOffice Associates Holdings, LLC                |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                  |  | First lien (2)(10)             |  | 13.50% (L + 9.50% + 3.00% PIK/Q)* |  | 8/25/2017  |  | 8/25/2023              |  | 13,175                                 |              |            | 13,114  |                  |              | 13,175          |  |   |              |
|                                                    |  | First lien (3)(10)(11) - Drawn |  | 13.50% (L + 9.50% + 3.00% PIK/Q)* |  | 8/25/2017  |  | 8/25/2023              |  | 914                                    |              |            | 906     |                  |              | 914             |  |   |              |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  | 14,089                                 |              |            | 14,020  |                  |              | 14,089          |  |   | 1.18    | % |
| Coyote Buyer, LLC                                  |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Specialty Chemicals & Materials                |  | First lien (5)(10)             |  | 7.00% (L + 6.00%/Q)               |  | 3/13/2020  |  | 2/6/2026               |  | 14,114                                 |              |            | 14,049  |                  |              | 14,044          |  |   | 1.17    | % |
| Ministry Brands, LLC                               |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                           |  | First lien (2)(10)             |  | 5.00% (L + 4.00%/Q)               |  | 12/7/2016  |  | 12/2/2022              |  | 2,910                                  |              |            | 2,904   |                  |              | 2,883           |  |   |              |
|                                                    |  | Second lien (8)(10)            |  | 10.25% (L + 9.25%/S)              |  | 12/7/2016  |  | 6/2/2023               |  | 7,840                                  |              |            | 7,811   |                  |              | 7,840           |  |   |              |
|                                                    |  | Second lien (3)(10)            |  | 10.25% (L + 9.25%/S)              |  | 12/7/2016  |  | 6/2/2023               |  | 2,160                                  |              |            | 2,152   |                  |              | 2,160           |  |   |              |
|                                                    |  | First lien (3)(10)(11) - Drawn |  | 6.00% (L + 5.00%/S)               |  | 12/7/2016  |  | 12/2/2022              |  | 575                                    |              |            | 572     |                  |              | 570             |  |   |              |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  | 13,485                                 |              |            | 13,439  |                  |              | 13,453          |  |   | 1.12    | % |
| Alegeus Technologies Holding Corp.                 |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                |  | First lien (8)(10)             |  | 9.25% (L + 8.25%/Q)               |  | 9/5/2018   |  | 9/5/2024               |  | 13,444                                 |              |            | 13,395  |                  |              | 13,290          |  |   | 1.11    | % |
| Geo Parent Corporation                             |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                  |  | First lien (2)(10)             |  | 5.40% (L + 5.25%/M)               |  | 12/13/2018 |  | 12/19/2025             |  | 12,967                                 |              |            | 12,916  |                  |              | 12,967          |  |   | 1.08    | % |
| PaySimple, Inc.                                    |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                           |  | First lien (2)                 |  | 5.65% (L + 5.50%/M)               |  | 8/19/2019  |  | 8/23/2025              |  | 9,783                                  |              |            | 9,700   |                  |              | 9,392           |  |   |              |
|                                                    |  | First lien (2)                 |  | 5.65% (L + 5.50%/M)               |  | 8/19/2019  |  | 8/23/2025              |  | 3,203                                  |              |            | 3,145   |                  |              | 3,075           |  |   |              |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  | 12,986                                 |              |            | 12,845  |                  |              | 12,467          |  |   | 1.04    | % |
| Transcendia Holdings, Inc.                         |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Packaging                                          |  | Second lien (8)(10)            |  | 9.00% (L + 8.00%/M)               |  | 6/28/2017  |  | 5/30/2025              |  | 14,500                                 |              |            | 14,365  |                  |              | 12,231          |  |   | 1.02    | % |
|                                                    |  |                                |  |                                       |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                              |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|--------------------------------|--|------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment             |  | Interest Rate (12)           |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                              |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| OEConnection LLC                             |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Second lien (2)(10)            |  | 8.40% (L + 8.25%/M)      |  | 9/25/2019  |  | 9/25/2027              |  | $                                           | 12,044  |            |              | $                | 11,934  |                      |  | $ | 11,863  |   |  | 0.99  | % |
| CHA Holdings, Inc.                           |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Second lien (4)(10)            |  | 9.75% (L + 8.75%/Q)      |  | 4/3/2018   |  | 4/10/2026              |  | 7,012                                  |              |            | 6,957   |                  |              | 7,012           |  |   |              |
|                                              |  | Second lien (3)(10)            |  | 9.75% (L + 8.75%/Q)      |  | 4/3/2018   |  | 4/10/2026              |  | 4,453                                  |              |            | 4,418   |                  |              | 4,452           |  |   |              |
|                                              |  |                                |  |                              |  |                    |  |                                |  | 11,465                                 |              |            | 11,375  |                  |              | 11,464          |  |   | 0.96    | % |
| Alert Holding Company, Inc. (15)             |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Appriss Holdings, Inc.                       |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (8)(10)             |  | 5.75% (L + 5.50%/M)      |  | 5/24/2019  |  | 5/29/2026              |  | 10,971                                 |              |            | 10,891  |                  |              | 10,971          |  |   |              |
|                                              |  | First lien (3)(10)(11) - Drawn |  | 5.65% (L + 5.50%/M)      |  | 5/24/2019  |  | 5/30/2025              |  | 460                                    |              |            | 455     |                  |              | 460             |  |   |              |
|                                              |  |                                |  |                              |  |                    |  |                                |  | 11,431                                 |              |            | 11,346  |                  |              | 11,431          |  |   | 0.95    | % |
| Apptio, Inc.                                 |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | First lien (8)(10)             |  | 8.25% (L + 7.25%/S)      |  | 1/10/2019  |  | 1/10/2025              |  | 11,203                                 |              |            | 11,030  |                  |              | 11,371          |  |   | 0.95    | % |
| Castle Management Borrower LLC               |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (2)(10)             |  | 7.50% (L + 6.50% PIK/Q)* |  | 5/31/2018  |  | 2/15/2024              |  | 13,731                                 |              |            | 13,689  |                  |              | 11,109          |  |   | 0.93    | % |
| Vectra Co.                                   |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Products                            |  | Second lien (8)(10)            |  | 7.40% (L + 7.25%/M)      |  | 2/23/2018  |  | 3/8/2026               |  | 10,788                                 |              |            | 10,758  |                  |              | 10,672          |  |   | 0.89    | % |
| Masergy Holdings, Inc.                       |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Second lien (2)(10)            |  | 8.50% (L + 7.50%/Q)      |  | 12/14/2016 |  | 12/16/2024             |  | 10,500                                 |              |            | 10,463  |                  |              | 10,500          |  |   | 0.88    | % |
| PPVA Black Elk (Equity) LLC                  |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Subordinated (3)(10)           |  | —                      |  | 5/3/2013   |  | —                        |  | 14,500                                 |              |            | 14,500  |                  |              | 10,354          |  |   | 0.86    | % |
| Quartz Holding Company                       |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | Second lien (3)(10)            |  | 8.15% (L + 8.00%/M)      |  | 4/2/2019   |  | 4/2/2027               |  | 10,000                                 |              |            | 9,827   |                  |              | 9,993           |  |   | 0.83    | % |
| Stats Intermediate Holdings, LLC**           |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (2)                 |  | 5.40% (L + 5.25%/M)      |  | 5/22/2019  |  | 7/10/2026              |  | 9,925                                  |              |            | 9,819   |                  |              | 9,801           |  |   | 0.82    | % |
| Teneo Holdings, LLC                          |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (2)                 |  | 6.25% (L + 5.25%/M)      |  | 7/15/2019  |  | 7/11/2025              |  | 9,900                                  |              |            | 9,736   |                  |              | 9,578           |  |   | 0.80    | % |
| VT Topco, Inc.                               |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | Second lien (4)(10)            |  | 7.15% (L + 7.00%/M)      |  | 8/14/2018  |  | 7/31/2026              |  | 10,000                                 |              |            | 9,980   |                  |              | 9,481           |  |   | 0.79    | % |
| Affordable Care Holding Corp.                |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                          |  | First lien (2)(10)             |  | 5.75% (L + 4.75%/Q)      |  | 3/18/2019  |  | 10/24/2022             |  | 9,820                                  |              |            | 9,702   |                  |              | 9,303           |  |   | 0.78    | % |
| AgKnowledge Holdings Company, Inc.           |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                            |  | First lien (4)(10)             |  | 5.75% (L + 4.75%/S)      |  | 11/30/2018 |  | 7/21/2023              |  | 9,284                                  |              |            | 9,255   |                  |              | 9,284           |  |   | 0.78    | % |
| Zywave, Inc.                                 |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Software                                     |  | Second lien (4)(10)            |  | 10.00% (L + 9.00%/Q)     |  | 11/22/2016 |  | 11/17/2023             |  | 6,780                                  |              |            | 6,753   |                  |              | 6,780           |  |   |              |
|                                              |  | Second lien (4)(10)            |  | 10.00% (L + 9.00%/Q)     |  | 12/3/2019  |  | 11/17/2023             |  | 600                                    |              |            | 596     |                  |              | 600             |  |   |              |
|                                              |  |                                |  |                              |  |                    |  |                                |  | 7,380                                  |              |            | 7,349   |                  |              | 7,380           |  |   | 0.62    | % |
| AG Parent Holdings, LLC                      |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                          |  | First lien (2)                 |  | 5.15% (L + 5.00%/M)      |  | 7/30/2019  |  | 7/31/2026              |  | 6,940                                  |              |            | 6,910   |                  |              | 6,836           |  |   | 0.57    | % |
|                                              |  |                                |  |                              |  |                    |  |                                |  |                                             |              |            |              |                  |              |                      |

----

Table of Contents

|                                                                                         |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |  |   |                 |   |  |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------|--|-----------------------------------|--|--------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|-----------------|------------|---------------|------------------|-----------------|----------------------|--|---|-----------------|---|--|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)                                            |  | Type of Investment                |  | Interest Rate (12)             |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |                 |  Cost |               |  Fair Value |                 | Percent of NetAssets |
|                                                                                         |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Recorded Future, Inc.                                                                   |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Software                                                                                |  | First lien (8)(10)                |  | 7.25% (L + 6.25%/S)        |  | 8/26/2019  |  | 7/3/2025               |  | $                                           | 6,250      |            |               | $                | 6,224      |                      |  | $ | 6,252      |   |  |              |
|                                                                                         |  | First lien (3)(10)(11) - Drawn    |  | 7.25% (L + 6.25%/S)        |  | 8/26/2019  |  | 7/3/2025               |  | 500                                    |                 |            | 498      |                  |                 | 500             |  |   |                 |
|                                                                                         |  |                                   |  |                                |  |                    |  |                                |  | 6,750                                  |                 |            | 6,722    |                  |                 | 6,752           |  |   | 0.56       | % |
| CP VI Bella Midco, LLC                                                                  |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Healthcare Services                                                                     |  | Second lien (3)                   |  | 6.90% (L + 6.75%/M)        |  | 1/25/2018  |  | 12/29/2025             |  | 6,732                                  |                 |            | 6,708    |                  |                 | 6,699           |  |   | 0.56       | % |
| DealerSocket, Inc.                                                                      |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Software                                                                                |  | First lien (2)(10)                |  | 5.75% (L + 4.75%/S)        |  | 4/16/2018  |  | 4/26/2023              |  | 6,560                                  |                 |            | 6,533    |                  |                 | 6,357           |  |   | 0.53       | % |
| Restaurant Technologies, Inc.                                                           |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Business Services                                                                       |  | Second lien (4)                   |  | 6.65% (L + 6.50%/M)        |  | 9/24/2018  |  | 10/1/2026              |  | 6,722                                  |                 |            | 6,708    |                  |                 | 6,285           |  |   | 0.52       | % |
| DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC) |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Business Services                                                                       |  | Second lien (3)                   |  | 7.50% (L + 6.75%/M)        |  | 1/29/2018  |  | 2/2/2026               |  | 6,732                                  |                 |            | 6,708    |                  |                 | 6,228           |  |   | 0.52       | % |
| Diligent Corporation                                                                    |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Software                                                                                |  | First lien (3)(10)                |  | 7.25% (L + 6.25%/S)        |  | 12/19/2018 |  | 8/4/2025               |  | 5,962                                  |                 |            | 5,926    |                  |                 | 6,042           |  |   | 0.50       | % |
| ADG, LLC                                                                                |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Healthcare Services                                                                     |  | Second lien (3)(10)               |  | 11.00% (L + 10.00% PIK/Q)* |  | 10/3/2016  |  | 3/28/2024              |  | 5,743                                  |                 |            | 5,700    |                  |                 | 3,658           |  |   | 0.31       | % |
| Sphera Solutions, Inc.                                                                  |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Software                                                                                |  | First lien (2)(10)                |  | 8.00% (L + 7.00%/Q)        |  | 9/10/2019  |  | 6/14/2022              |  | 2,470                                  |                 |            | 2,454    |                  |                 | 2,470           |  |   | 0.21       | % |
| Education Management Corporation (13)                                                   |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Education Management II LLC                                                             |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Education                                                                               |  | First lien (2)                    |  | 13.00% (L + 7.50%/M)(26)   |  | 1/5/2015   |  | 7/2/2020               |  | 300                                    |                 |            | 292      |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (3)                    |  | 13.00% (L + 7.50%/M)(26)   |  | 1/5/2015   |  | 7/2/2020               |  | 169                                    |                 |            | 165      |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (2)                    |  | 9.75% (L + 6.50%/Q)(26)    |  | 1/5/2015   |  | 7/2/2020               |  | 207                                    |                 |            | 201      |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (3)                    |  | 9.75% (L + 6.50%/Q)(26)    |  | 1/5/2015   |  | 7/2/2020               |  | 117                                    |                 |            | 113      |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (2)                    |  | 11.75% (P + 8.50%/M)(26)   |  | 1/5/2015   |  | 7/2/2020               |  | 141                                    |                 |            | 116      |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (3)                    |  | 11.75% (P + 8.50%/M)(26)   |  | 1/5/2015   |  | 7/2/2020               |  | 79                                     |                 |            | 66       |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (2)                    |  | 11.75% (P + 8.50%/M)(26)   |  | 1/5/2015   |  | 7/2/2020               |  | 4                                      |                 |            | 3        |                  |                 | —         |  |   |                 |
|                                                                                         |  | First lien (3)                    |  | 11.75% (P + 8.50%/M)(26)   |  | 1/5/2015   |  | 7/2/2020               |  | 2                                      |                 |            | 2        |                  |                 | —         |  |   |                 |
|                                                                                         |  |                                   |  |                                |  |                    |  |                                |  | 1,019                                  |                 |            | 958      |                  |                 | —         |  |   | —    | % |
| PPVA Fund, L.P.                                                                         |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |
| Business Services                                                                       |  | Collateralized Financing (26)(27) |  | —                        |  | 11/7/2014  |  | —                        |  | —                                |                 |            | —  |                  |                 | —         |  |   | —    | % |
| Total Funded Debt Investments - United States                                           |  |                                   |  |                                |  |                    |  |                                |  | $                                           | 2,085,054  |            |               | $                | 2,068,916  |                      |  | $ | 2,017,244  |   |  | 168.51  | % |
| Total Funded Debt Investments                                                           |  |                                   |  |                                |  |                    |  |                                |  | $                                           | 2,231,021  |            |               | $                | 2,214,015  |                      |  | $ | 2,160,032  |   |  | 180.44  | % |
|                                                                                         |  |                                   |  |                                |  |                    |  |                                |  |                                             |                 |            |               |                  |                 |                      |

----

Table of Contents

|                                                  |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |                 |               |            |              |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------|--|------------------------------|--|--------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--|--------------|-----------------|------------------|---------------|----------------------|-----------------|---------------|------------|--------------|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)     |  | Type of Investment           |  | Interest Rate (12) |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |  |  Cost   |                 |  Fair Value |               | Percent of NetAssets |
|                                                  |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Equity - Hong Kong                               |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Bach Special Limited (Bach Preference Limited)** |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Education                                        |  | Preferred shares (3)(10)(22) |  | —            |  | 9/1/2017   |  | —                        |  | 82,414                                 |  |              | $               | 8,162       |               |                      | $               | 8,489    |            |              | 0.71  | % |
| Total Shares - Hong Kong                         |  |                              |  |                    |  |                    |  |                                |  |                                             |  | $            | 8,162      |                  |               | $                    | 8,489      |               |            | 0.71    | %          |
| Equity - United States                           |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Avatar Topco, Inc.(23)                           |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Education                                        |  | Preferred shares (3)(10)     |  | —            |  | 11/17/2017 |  | —                        |  | 35,750                                 |  |              | $               | 50,641      |               |                      | $               | 51,713   |            |              | 4.32  | % |
| Symplr Software Intermediate Holdings, Inc. (24) |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Healthcare Information Technology                |  | Preferred shares (4)(10)     |  | —            |  | 11/30/2018 |  | —                        |  | 7,500                                  |  |              | 9,282      |                  |               | 9,394           |                 |               |            |
|                                                  |  | Preferred shares (3)(10)     |  | —            |  | 11/30/2018 |  | —                        |  | 2,586                                  |  |              | 3,200      |                  |               | 3,239           |                 |               |            |
|                                                  |  |                              |  |                    |  |                    |  |                                |  |                                             |  | 12,482  |                 |                  | 12,633   |                      |                 | 1.06     | %          |
| Tenawa Resource Holdings LLC (14)                |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| QID NGL LLC                                      |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Specialty Chemicals & Materials              |  | Preferred shares (6)(10)     |  | —            |  | 10/30/2017 |  | —                        |  | 1,623,385                              |  |              | 1,623      |                  |               | 1,950           |                 |               |            |
|                                                  |  | Ordinary shares (6)(10)      |  | —            |  | 5/12/2014  |  | —                        |  | 5,290,997                              |  |              | 5,291      |                  |               | 5,324           |                 |               |            |
|                                                  |  |                              |  |                    |  |                    |  |                                |  |                                             |  | 6,914   |                 |                  | 7,274    |                      |                 | 0.61     | %          |
| Alert Holding Company, Inc. (15)                 |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Alert Intermediate Holdings I, Inc.              |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Business Services                                |  | Preferred shares (3)(10)     |  | —            |  | 5/31/2019  |  | —                        |  | 6,111                                  |  |              | 7,017      |                  |               | 7,109           |                 |               | 0.59  | %            |
| Ancora Acquisition LLC                           |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Education                                        |  | Preferred shares (9)(10)     |  | —            |  | 8/12/2013  |  | —                        |  | 372                                    |  |              | 83         |                  |               | 158             |                 |               | 0.01  | %            |
| Education Management Corporation (13)            |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Education                                        |  | Preferred shares (2)         |  | —            |  | 1/5/2015   |  | —                        |  | 3,331                                  |  |              | 200        |                  |               | —         |                 |               |            |
|                                                  |  | Preferred shares (3)         |  | —            |  | 1/5/2015   |  | —                        |  | 1,879                                  |  |              | 113        |                  |               | —         |                 |               |            |
|                                                  |  | Ordinary shares (2)          |  | —            |  | 1/5/2015   |  | —                        |  | 2,994,065                              |  |              | 100        |                  |               | —         |                 |               |            |
|                                                  |  | Ordinary shares (3)          |  | —            |  | 1/5/2015   |  | —                        |  | 1,688,976                              |  |              | 56         |                  |               | —         |                 |               |            |
|                                                  |  |                              |  |                    |  |                    |  |                                |  |                                             |  | 469     |                 |                  | —  |                      |                 | —  | %          |
| Total Shares - United States                     |  |                              |  |                    |  |                    |  |                                |  |                                             |  | $            | 77,606     |                  |               | $                    | 78,887     |               |            | 6.59    | %          |
| Total Shares                                     |  |                              |  |                    |  |                    |  |                                |  |                                             |  | $            | 85,768     |                  |               | $                    | 87,376     |               |            | 7.30    | %          |
| Warrants - United States                         |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| ASP LCG Holdings, Inc.                           |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |
| Education                                        |  | Warrants (3)(10)             |  | —            |  | 5/5/2014   |  | 5/5/2026               |  | 622                                    |  |              | $               | 37          |               |                      | $               | 700      |            |              | 0.06  | % |
| Total Warrants - United States                   |  |                              |  |                    |  |                    |  |                                |  |                                             |  | $            | 37         |                  |               | $                    | 700        |               |            | 0.06    | %          |
| Total Funded Investments                         |  |                              |  |                    |  |                    |  |                                |  |                                             |  | $            | 2,299,820  |                  |               | $                    | 2,248,108  |               |            | 187.80  | %          |
|                                                  |  |                              |  |                    |  |                    |  |                                |  |                                             |  |              |                 |                  |               |                      |

----

Table of Contents

|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |  |   |               |   |  |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|-------------|------------|---------------|------------------|---------------|----------------------|--|---|---------------|---|--|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment               |  | Interest Rate (12) |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |             |  Cost |               |  Fair Value |               | Percent of NetAssets |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Unfunded Debt Investments - Canada           |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Wolfpack IP Co.**                            |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 6/14/2019  |  | 6/13/2025              |  | $                                           | 909    |            |               | $                | (9)           |                      |  | $ | —  |   |  | —  | % |
| Total Unfunded Debt Investments - Canada     |  |                                  |  |                    |  |                    |  |                                |  | $                                           | 909    |            |               | $                | (9)           |                      |  | $ | —  |   |  | —  | % |
| Unfunded Debt Investments - United States    |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Kaseya Inc.                                  |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 5/9/2019   |  | 5/3/2021               |  | $                                           | 2,675  |            |               | $                | —  |                      |  | $ | 27       |   |  |               |
|                                              |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 5/9/2019   |  | 5/2/2025               |  | 1,179                                  |             |            | (12)          |                  |               | —         |  |   |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  | 3,854                                  |             |            | (12)          |                  |               | 27              |  |   | 0.00     | % |
| CoolSys, Inc.                                |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Industrial Services                          |  | First lien (3)(11) - Undrawn     |  | —            |  | 11/20/2019 |  | 11/19/2021             |  | 1,400                                  |             |            | —  |                  |               | 4               |  |   | 0.00     | % |
| MRI Software LLC                             |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 1/31/2020  |  | 2/10/2022              |  | 1,141                                  |             |            | —  |                  |               | 3               |  |   |               |
|                                              |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 1/31/2020  |  | 2/10/2026              |  | 2,002                                  |             |            | (10)          |                  |               | —         |  |   |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  | 3,143                                  |             |            | (10)          |                  |               | 3               |  |   | 0.00     | % |
| YLG Holdings, Inc.                           |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Business Services                            |  | First lien (5)(10)(11) - Undrawn |  | —            |  | 11/1/2019  |  | 4/30/2021              |  | 468                                    |             |            | —  |                  |               | 2               |  |   |               |
|                                              |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 11/1/2019  |  | 10/31/2025             |  | 3,968                                  |             |            | (20)          |                  |               | —         |  |   |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  | 4,436                                  |             |            | (20)          |                  |               | 2               |  |   | 0.00     | % |
| Recorded Future, Inc.                        |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 8/26/2019  |  | 1/3/2021               |  | 500                                    |             |            | (3)           |                  |               | —         |  |   |               |
|                                              |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 8/26/2019  |  | 7/3/2025               |  | 250                                    |             |            | (1)           |                  |               | —         |  |   |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  | 750                                    |             |            | (4)           |                  |               | —         |  |   | —  | % |
| Definitive Healthcare Holdings, LLC          |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Healthcare Information Technology            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 8/7/2019   |  | 7/16/2021              |  | 7,391                                  |             |            | —  |                  |               | —         |  |   | —  | % |
| Associations, Inc.                           |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Business Services                            |  | First lien (2)(10)(11) - Undrawn |  | —            |  | 7/30/2018  |  | 7/30/2021              |  | 153                                    |             |            | (1)           |                  |               | —         |  |   | —  | % |
| AgKnowledge Holdings Company, Inc.           |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |
| Business Services                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 11/30/2018 |  | 7/21/2023              |  | 526                                    |             |            | (3)           |                  |               | —         |  |   | —  | % |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |             |            |               |                  |               |                      |

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Table of Contents

|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |  |   |               |   |  |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|-----------|------------|------|------------------|-----|----------------------|--|---|---------------|---|--|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment               |  | Interest Rate (12) |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |           |  Cost |      |  Fair Value |     | Percent of NetAssets |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Alert Holding Company, Inc. (15)             |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Appriss Holdings, Inc.                       |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Business Services                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 5/24/2019  |  | 5/30/2025              |  | $                                           | 470  |            |      | $                | (5) |                      |  | $ | —  |   |  | —  | % |
| Kele Holdco, Inc.                            |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Distribution & Logistics                 |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 2/20/2020  |  | 2/20/2026              |  | 1,799                                  |           |            | (9)  |                  |     | —         |  |   | —  | % |
| Wrike, Inc.                                  |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 12/31/2018 |  | 12/31/2024             |  | 933                                    |           |            | (9)  |                  |     | —         |  |   | —  | % |
| Xactly Corporation                           |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 7/31/2017  |  | 7/29/2022              |  | 992                                    |           |            | (10) |                  |     | —         |  |   | —  | % |
| GS Acquisitionco, Inc.                       |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 8/7/2019   |  | 5/24/2024              |  | 1,646                                  |           |            | (10) |                  |     | —         |  |   | —  | % |
| Bullhorn, Inc.                               |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 9/24/2019  |  | 10/1/2021              |  | 781                                    |           |            | (6)  |                  |     | —         |  |   |               |
|                                              |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 9/24/2019  |  | 9/30/2026              |  | 852                                    |           |            | (6)  |                  |     | —         |  |   |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  | 1,633                                  |           |            | (12) |                  |     | —         |  |   | —  | % |
| Trader Interactive, LLC                      |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Business Services                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 6/15/2017  |  | 6/15/2023              |  | 1,673                                  |           |            | (13) |                  |     | —         |  |   | —  | % |
| Zywave, Inc.                                 |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (2)(10)(11) - Undrawn |  | —            |  | 11/22/2016 |  | 11/17/2022             |  | 2,000                                  |           |            | (15) |                  |     | —         |  |   | —  | % |
| Integral Ad Science, Inc.                    |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 7/19/2018  |  | 7/19/2023              |  | 1,807                                  |           |            | (18) |                  |     | —         |  |   | —  | % |
| Finalsite Holdings, Inc.                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 9/25/2018  |  | 9/25/2024              |  | 2,521                                  |           |            | (19) |                  |     | —         |  |   | —  | % |
| Bluefin Holding, LLC                         |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 9/6/2019   |  | 9/6/2024               |  | 1,515                                  |           |            | (23) |                  |     | —         |  |   | —  | % |
| iCIMS, Inc.                                  |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 9/12/2018  |  | 9/12/2024              |  | 2,915                                  |           |            | (29) |                  |     | —         |  |   | —  | % |
| Integro Parent Inc.                          |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Business Services                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 6/8/2018   |  | 4/30/2022              |  | 6,743                                  |           |            | (34) |                  |     | —         |  |   | —  | % |
| Apptio, Inc.                                 |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |
| Software                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 1/10/2019  |  | 1/10/2025              |  | 2,066                                  |           |            | (41) |                  |     | —         |  |   | —  | % |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |           |            |      |                  |     |                      |

----

Table of Contents

|                                                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |                 |   |        |              |   |        |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|-----------------|------------------|---------------|----------------------|-----------------|---|--------|--------------|---|--------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)        |  | Type of Investment               |  | Interest Rate (12) |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |                 |  Fair Value |               | Percent of NetAssets |
|                                                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| DCA Investment Holding, LLC                         |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Healthcare Services                                 |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 7/2/2015   |  | 7/2/2021               |  | $                                           | 44      |            |                 | $                | —  |                      |                 | $ | (3)    |              |   | (0.00) | % |
| Ministry Brands, LLC                                |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Software                                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 12/7/2016  |  | 12/2/2022              |  | 425                                    |              |            | (2)             |                  |               | (4)                  |                 |   | (0.00) | %            |
| Coyote Buyer, LLC                                   |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Specialty Chemicals & Materials                 |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 3/13/2020  |  | 2/6/2025               |  | 1,013                                  |              |            | (5)             |                  |               | (5)                  |                 |   | (0.00) | %            |
| Instructure, Inc. **                                |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Software                                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 3/24/2020  |  | 3/24/2026              |  | 2,036                                  |              |            | (13)            |                  |               | (13)                 |                 |   | (0.00) | %            |
| DealerSocket, Inc.                                  |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Software                                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 4/16/2018  |  | 4/26/2023              |  | 560                                    |              |            | (4)             |                  |               | (17)                 |                 |   | (0.00) | %            |
| ConnectWise, LLC                                    |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Software                                            |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 11/26/2019 |  | 2/28/2025              |  | 4,248                                  |              |            | (27)            |                  |               | (26)                 |                 |   | (0.00) | %            |
| TDG Group Holding Company                           |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Consumer Services                                   |  | First lien (2)(10)(11) - Undrawn |  | —            |  | 5/22/2018  |  | 5/31/2024              |  | 5,044                                  |              |            | (25)            |                  |               | (36)                 |                 |   | (0.00) | %            |
| Salient CRGT Inc.                                   |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Federal Services                                    |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 6/26/2018  |  | 11/29/2021             |  | 6,125                                  |              |            | (490)           |                  |               | (88)                 |                 |   | (0.01) | %            |
| GC Waves Holdings, Inc.**                           |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Business Services                                   |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 10/31/2019 |  | 10/31/2025             |  | 3,951                                  |              |            | (30)            |                  |               | (49)                 |                 |   |        |
|                                                     |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 10/31/2019 |  | 11/1/2021              |  | 4,435                                  |              |            | —    |                  |               | (55)                 |                 |   |        |
|                                                     |  |                                  |  |                    |  |                    |  |                                |  | 8,386                                  |              |            | (30)            |                  |               | (104)                |                 |   | (0.01) | %            |
| Total Unfunded Debt Investments - United States     |  |                                  |  |                    |  |                    |  |                                |  | $                                           | 78,247  |            |                 | $                | (893)         |                      |                 | $ | (260)  |              |   | (0.03) | % |
| Total Unfunded Debt Investments                     |  |                                  |  |                    |  |                    |  |                                |  | $                                           | 79,156  |            |                 | $                | (902)         |                      |                 | $ | (260)  |              |   | (0.03) | % |
| Total Non-Controlled/Non-Affiliated Investments |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | $          | 2,298,918  |                  |               | $                    | 2,247,848  |   |        | 187.77  | % |
|                                                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |            |                 |                  |               |                      |

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Table of Contents

|                                                 |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |              |               |              |            |            |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------|--|----------------------------------|--|---------------------------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|--------------|--------------|------------------|---------------|----------------------|--------------|---------------|--------------|------------|------------|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)    |  | Type of Investment               |  | Interest Rate (12)                    |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost   |              |  Fair Value |               | Percent of NetAssets |
|                                                 |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Non-Controlled/Affiliated Investments (28)  |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Funded Debt Investments - United States         |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Permian Holdco 1, Inc.                          |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Permian Holdco 2, Inc.                          |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Permian Holdco 3, Inc.                          |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Energy                                          |  | First lien (3)(10)               |  | 14.75% (P + 6.50% + 5.00% PIK/M)* |  | 6/14/2018  |  | 6/30/2022              |  | $                                           | 10,902  |              |              | $                | 10,902   |                      |              | $             | 10,539  |            |            |            |
|                                                 |  | First lien (3)(10)               |  | 11.00% (L + 10.00% PIK/M)*        |  | 7/23/2020  |  | 10/23/2020             |  | 2,295                                  |              |              | 2,295   |                  |               | 2,295           |              |               |              |
|                                                 |  | First lien (3)(10)(11) - Drawn   |  | 8.75% (P + 5.50%/M)               |  | 6/14/2018  |  | 6/30/2022              |  | 17,700                                 |              |              | 17,700  |                  |               | 15,311          |              |               |              |
|                                                 |  | Subordinated (3)(10)             |  | 18.00% PIK/Q (26)*                |  | 12/26/2018 |  | 6/30/2022              |  | 2,417                                  |              |              | 2,417   |                  |               | —         |              |               |              |
|                                                 |  | Subordinated (3)(10)             |  | 14.00% PIK/Q (26)*                |  | 10/31/2016 |  | 10/15/2021             |  | 1,708                                  |              |              | 1,708   |                  |               | —         |              |               |              |
|                                                 |  | Subordinated (3)(10)             |  | 14.00% PIK/Q (26)*                |  | 10/31/2016 |  | 10/15/2021             |  | 1,025                                  |              |              | 1,025   |                  |               | —         |              |               |              |
|                                                 |  |                                  |  |                                       |  |                    |  |                                |  | 36,047                                 |              |              | 36,047  |                  |               | 28,145          |              |               | 2.35    | %          |
| Sierra Hamilton Holdings Corporation            |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Energy                                          |  | Second lien (3)(10)              |  | 15.00% PIK/Q*                     |  | 9/12/2019  |  | 9/12/2023              |  | 907                                    |              |              | 891     |                  |               | 816             |              |               | 0.07    | %          |
| Total Funded Debt Investments - United States   |  |                                  |  |                                       |  |                    |  |                                |  | $                                           | 36,954  |              |              | $                | 36,938   |                      |              | $             | 28,961  |            |            | 2.42  | % |
| Equity - United States                          |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| NMFC Senior Loan Program I LLC**                |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Investment Fund                                 |  | Membership interest (3)(10)      |  | —                               |  | 6/13/2014  |  | —                        |  | —                                |              |              | $            | 23,000      |               |                      | $            | 23,000   |              |            | 1.92  | %          |
| Sierra Hamilton Holdings Corporation            |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Energy                                          |  | Ordinary shares (2)(10)          |  | —                               |  | 7/31/2017  |  | —                        |  | 25,000,000                             |              |              | 11,501  |                  |               | 3,706           |              |               |              |
|                                                 |  | Ordinary shares (3)(10)          |  | —                               |  | 7/31/2017  |  | —                        |  | 2,786,000                              |              |              | 1,282   |                  |               | 413             |              |               |              |
|                                                 |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              | 12,783  |              |                  | 4,119    |                      |              | 0.34     | %            |
| Permian Holdco 1, Inc.                          |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Energy                                          |  | Preferred shares (3)(10)(17)(26) |  | —                               |  | 10/31/2016 |  | —                        |  | 1,366,452                              |              |              | 5,714   |                  |               | —         |              |               |              |
|                                                 |  | Ordinary shares (3)(10)          |  | —                               |  | 10/31/2016 |  | —                        |  | 1,366,452                              |              |              | 1,350   |                  |               | —         |              |               |              |
|                                                 |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              | 7,064   |              |                  | —  |                      |              | —  | %            |
| Total Shares - United States                    |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              | $            | 42,847  |                  |               | $                    | 27,119  |               |              | 2.26  | %          |
| Total Funded Investments                        |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              | $            | 79,785  |                  |               | $                    | 56,080  |               |              | 4.68  | %          |
| Unfunded Debt Investments - United States       |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Permian Holdco 3, Inc.                          |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |
| Energy                                          |  | First lien (3)(10)(11) - Undrawn |  | —                               |  | 6/14/2018  |  | 6/30/2022              |  | $                                           | 2,300   |              |              | $                | —  |                      |              | $             | (311)        |            |            | (0.02)     | % |
| Total Unfunded Debt Investments - United States |  |                                  |  |                                       |  |                    |  |                                |  | $                                           | 2,300   |              |              | $                | —  |                      |              | $             | (311)        |            |            | (0.02)     | % |
| Total Non-Controlled/Affiliated Investments |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              | $            | 79,785  |                  |               | $                    | 55,769  |               |              | 4.66  | %          |
|                                                 |  |                                  |  |                                       |  |                    |  |                                |  |                                             |              |              |              |                  |               |                      |

----

Table of Contents

|                                                               |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |  |   |              |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------|--|---------------------------------|--|--------------------------------------|--|-------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|--------------|------------------|--------------|----------------------|--|---|--------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)                  |  | Type of Investment              |  | Interest Rate (12)                   |  | Acquisition Date  |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |              |  Fair Value |              | Percent of NetAssets |
|                                                               |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Controlled Investments (29)                                   |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Funded Debt Investments - United Kingdom                      |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Edmentum Ultimate Holdings, LLC (16)                          |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| EducationCity Limited**                                       |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Education                                                     |  | First lien (3)(10)(11) - Drawn  |  | 10.00%/S                         |  | 1/24/2020 |  | 12/9/2021              |  | $                                           | 3,000   |            |              | $                | 3,000   |                      |  | $ | 3,000   |   |  | 0.25  | % |
| Total Funded Debt Investments - United Kingdom                |  |                                 |  |                                      |  |                   |  |                                |  | $                                           | 3,000   |            |              | $                | 3,000   |                      |  | $ | 3,000   |   |  | 0.25  | % |
| Funded Debt Investments - United States                       |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| New LT Smile Holdings, LLC (25)                               |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Benevis Holding Corp.                                         |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Healthcare Services                                           |  | First lien (2)(10)              |  | 7.32% (L + 6.32%/Q)(26)          |  | 3/15/2018 |  | 3/15/2024              |  | $                                           | 62,572  |            |              | $                | 62,572  |                      |  | $ | 57,484  |   |  |            |
|                                                               |  | First lien (8)(10)              |  | 7.32% (L + 6.32%/Q)(26)          |  | 3/15/2018 |  | 3/15/2024              |  | 15,352                                 |              |            | 15,352  |                  |              | 14,104          |  |   |              |
|                                                               |  | First lien (3)(10)              |  | 7.32% (L + 6.32%/Q)(26)          |  | 3/29/2019 |  | 3/15/2024              |  | 7,586                                  |              |            | 7,586   |                  |              | 6,970           |  |   |              |
|                                                               |  | First lien (3)(10)              |  | 11.00% (L + 10.00%/Q)            |  | 8/6/2020  |  | 11/5/2020              |  | 3,457                                  |              |            | 3,457   |                  |              | 3,457           |  |   |              |
|                                                               |  |                                 |  |                                      |  |                   |  |                                |  | 88,967                                 |              |            | 88,967  |                  |              | 82,015          |  |   | 6.85    | % |
| Edmentum Ultimate Holdings, LLC (16)                          |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Edmentum, Inc. (fka Plato, Inc.) (Archipelago Learning, Inc.) |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Education                                                     |  | First lien (2)(10)              |  | 9.50% (L + 4.50% + 4.00% PIK/Q)* |  | 8/6/2018  |  | 6/9/2021               |  | 10,285                                 |              |            | 9,824   |                  |              | 10,285          |  |   |              |
|                                                               |  | First lien (3)(10)(11) - Drawn  |  | 10.00%/S                         |  | 1/24/2020 |  | 12/9/2021              |  | 5,000                                  |              |            | 5,000   |                  |              | 5,000           |  |   |              |
|                                                               |  | Second lien (3)(10)             |  | 7.00% PIK/Q*                     |  | 2/23/2018 |  | 12/9/2021              |  | 12,650                                 |              |            | 12,387  |                  |              | 12,650          |  |   |              |
|                                                               |  | Second lien (3)(10)(11) - Drawn |  | 5.00% PIK/Q*                     |  | 6/9/2015  |  | 12/9/2021              |  | 8,170                                  |              |            | 8,170   |                  |              | 8,170           |  |   |              |
|                                                               |  | Second lien (3)(10)(11) - Drawn |  | 5.00% PIK/Q*                     |  | 4/15/2020 |  | 12/9/2021              |  | 7,731                                  |              |            | 7,731   |                  |              | 7,731           |  |   |              |
|                                                               |  | Subordinated (3)(10)            |  | 8.50% PIK/Q*                     |  | 6/9/2015  |  | 12/9/2021              |  | 5,678                                  |              |            | 5,677   |                  |              | 5,678           |  |   |              |
|                                                               |  | Subordinated (2)(10)            |  | 10.00% PIK/Q*                    |  | 6/9/2015  |  | 12/9/2021              |  | 22,074                                 |              |            | 22,074  |                  |              | 22,074          |  |   |              |
|                                                               |  | Subordinated (3)(10)            |  | 10.00% PIK/Q*                    |  | 6/9/2015  |  | 12/9/2021              |  | 5,430                                  |              |            | 5,430   |                  |              | 5,430           |  |   |              |
|                                                               |  |                                 |  |                                      |  |                   |  |                                |  | 77,018                                 |              |            | 76,293  |                  |              | 77,018          |  |   | 6.43    | % |
| UniTek Global Services, Inc.                                  |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |
| Business Services                                             |  | First lien (2)(10)              |  | 7.50% (L + 5.50% + 1.00% PIK/S)* |  | 6/29/2018 |  | 8/20/2024              |  | 12,448                                 |              |            | 12,448  |                  |              | 11,139          |  |   |              |
|                                                               |  | First lien (3)(10)              |  | 7.50% (L + 5.50% + 1.00% PIK/S)* |  | 3/16/2020 |  | 8/20/2024              |  | 10,266                                 |              |            | 9,591   |                  |              | 9,186           |  |   |              |
|                                                               |  | First lien (2)(10)              |  | 7.50% (L + 5.50% + 1.00% PIK/S)* |  | 6/29/2018 |  | 8/20/2024              |  | 2,490                                  |              |            | 2,490   |                  |              | 2,228           |  |   |              |
|                                                               |  | First lien (3)(10)              |  | 7.50% (L + 5.50% + 1.00% PIK/S)* |  | 6/29/2018 |  | 8/20/2024              |  | 716                                    |              |            | 581     |                  |              | 640             |  |   |              |
|                                                               |  |                                 |  |                                      |  |                   |  |                                |  | 25,920                                 |              |            | 25,110  |                  |              | 23,193          |  |   | 1.94    | % |
|                                                               |  |                                 |  |                                      |  |                   |  |                                |  |                                             |              |            |              |                  |              |                      |

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Table of Contents

|                                               |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |              |               |               |            |             |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|---------------|--------------|--------------|------------------|---------------|----------------------|--------------|---------------|---------------|------------|-------------|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)  |  | Type of Investment               |  | Interest Rate (12) |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |               |  Cost   |              |  Fair Value |               | Percent of NetAssets |
|                                               |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| NHME Holdings Corp. (21)                      |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| National HME, Inc.                            |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Healthcare Services                           |  | Second lien (3)(10)              |  | 12.00% PIK/Q*  |  | 11/27/2018 |  | 5/27/2024              |  | $                                           | 18,088   |              |              | $                | 15,033   |                      |              | $             | 13,114   |            |             |             |
|                                               |  | Second lien (3)(10)              |  | 12.00% PIK/Q*  |  | 11/27/2018 |  | 5/27/2024              |  | 9,996                                  |               |              | 9,251   |                  |               | 8,746           |              |               |               |
|                                               |  |                                  |  |                    |  |                    |  |                                |  | 28,084                                 |               |              | 24,284  |                  |               | 21,860          |              |               | 1.83     | %          |
| Total Funded Debt Investments - United States |  |                                  |  |                    |  |                    |  |                                |  | $                                           | 219,989  |              |              | $                | 214,654  |                      |              | $             | 204,086  |            |             | 17.05  | % |
| Total Funded Debt Investments                 |  |                                  |  |                    |  |                    |  |                                |  | $                                           | 222,989  |              |              | $                | 217,654  |                      |              | $             | 207,086  |            |             | 17.30  | % |
| Equity - Canada                               |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| NM APP Canada Corp.**                         |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Net Lease                                     |  | Membership interest (7)(10)      |  | —            |  | 9/13/2016  |  | —                        |  | —                                |               |              | $            | 7,345       |               |                      | $            | 11,100   |               |            | 0.93   | %           |
| Total Shares - Canada                         |  |                                  |  |                    |  |                    |  |                                |  |                                             |               | $            | 7,345   |                  |               | $                    | 11,100  |               |               | 0.93  | %           |
| Equity - United States                        |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| NMFC Senior Loan Program III LLC**            |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Investment Fund                               |  | Membership interest (3)(10)      |  | —            |  | 5/4/2018   |  | —                        |  | —                                |               |              | $            | 120,000     |               |                      | $            | 120,000  |               |            | 10.02  | %           |
| NMFC Senior Loan Program II LLC**             |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Investment Fund                               |  | Membership interest (3)(10)      |  | —            |  | 5/3/2016   |  | —                        |  | —                                |               |              | 79,400  |                  |               | 79,400          |              |               | 6.63     | %          |
| NM NL Holdings, L.P.**                        |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Net Lease                                     |  | Membership interest (7)(10)      |  | —            |  | 6/20/2018  |  | —                        |  | —                                |               |              | 44,070  |                  |               | 49,589          |              |               | 4.14     | %          |
| UniTek Global Services, Inc.                  |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Business Services                             |  | Preferred shares (3)(10)(20)     |  | —            |  | 8/17/2018  |  | —                        |  | 9,948,967                              |               |              | 9,949   |                  |               | 8,272           |              |               |               |
|                                               |  | Preferred shares (3)(10)(20)     |  | —            |  | 8/29/2019  |  | —                        |  | 5,913,138                              |               |              | 5,913   |                  |               | 5,425           |              |               |               |
|                                               |  | Preferred shares (3)(10)(19)     |  | —            |  | 6/30/2017  |  | —                        |  | 18,099,536                             |               |              | 18,100  |                  |               | 12,250          |              |               |               |
|                                               |  | Preferred shares (2)(10)(18)(26) |  | —            |  | 1/13/2015  |  | —                        |  | 29,326,545                             |               |              | 26,946  |                  |               | 2,789           |              |               |               |
|                                               |  | Preferred shares (3)(10)(18)(26) |  | —            |  | 1/13/2015  |  | —                        |  | 8,104,462                              |               |              | 7,447   |                  |               | 771             |              |               |               |
|                                               |  | Ordinary shares (2)(10)          |  | —            |  | 1/13/2015  |  | —                        |  | 2,096,477                              |               |              | 1,925   |                  |               | —         |              |               |               |
|                                               |  | Ordinary shares (3)(10)          |  | —            |  | 1/13/2015  |  | —                        |  | 1,993,749                              |               |              | 532     |                  |               | —         |              |               |               |
|                                               |  |                                  |  |                    |  |                    |  |                                |  |                                             |               | 70,812  |              |                  | 29,507   |                      |              | 2.46     | %             |
| NM GLCR LP                                    |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Net Lease                                     |  | Membership interest (7)(10)      |  | —            |  | 2/1/2018   |  | —                        |  | —                                |               |              | 14,750  |                  |               | 26,464          |              |               | 2.21     | %          |
| NM CLFX LP                                    |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Net Lease                                     |  | Membership interest (7)(10)      |  | —            |  | 10/6/2017  |  | —                        |  | —                                |               |              | 12,538  |                  |               | 12,677          |              |               | 1.06     | %          |
| NM DRVT LLC                                   |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Net Lease                                     |  | Membership interest (7)(10)      |  | —            |  | 11/18/2016 |  | —                        |  | —                                |               |              | 5,152   |                  |               | 6,980           |              |               | 0.58     | %          |
| NM APP US LLC                                 |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |
| Net Lease                                     |  | Membership interest (7)(10)      |  | —            |  | 9/13/2016  |  | —                        |  | —                                |               |              | 5,080   |                  |               | 6,886           |              |               | 0.58     | %          |
|                                               |  |                                  |  |                    |  |                    |  |                                |  |                                             |               |              |              |                  |               |                      |

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Table of Contents

|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |               |               |               |             |            |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|--------------------------------|--|---------------------------------------------|--------------|---------------|---------------|------------------|---------------|----------------------|---------------|---------------|---------------|-------------|------------|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1) |  | Type of Investment               |  | Interest Rate (12) |  | Acquisition Date   |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost    |               |  Fair Value |               | Percent of NetAssets |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| NM YI, LLC                                   |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Net Lease                                    |  | Membership interest (7)(10)      |  | —            |  | 9/30/2019  |  | —                        |  | —                                |              |               | $             | 6,272       |               |                      | $             | 6,175    |               |             | 0.52  | %             |
| Edmentum Ultimate Holdings, LLC (16)         |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Education                                    |  | Ordinary shares (3)(10)          |  | —            |  | 6/9/2015   |  | —                        |  | 123,968                                |              |               | 11       |                  |               | 2,431           |               |               |               |
|                                              |  | Ordinary shares (2)(10)          |  | —            |  | 6/9/2015   |  | —                        |  | 107,143                                |              |               | 9        |                  |               | 2,101           |               |               |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | 20       |               |                  | 4,532    |                      |               | 0.38     | %             |
| NHME Holdings Corp. (21)                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Healthcare Services                          |  | Ordinary shares (3)(10)          |  | —            |  | 11/27/2018 |  | —                        |  | 640,000                                |              |               | 4,000    |                  |               | 4,000           |               |               | 0.33     | %           |
| NM JRA LLC                                   |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Net Lease                                    |  | Membership interest (7)(10)      |  | —            |  | 8/12/2016  |  | —                        |  | —                                |              |               | 2,043    |                  |               | 3,784           |               |               | 0.32     | %           |
| NM KRLN LLC                                  |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Net Lease                                    |  | Membership interest (7)(10)      |  | —            |  | 11/15/2016 |  | —                        |  | —                                |              |               | 8,227    |                  |               | 940             |               |               | 0.08     | %           |
| NM GP Holdco, LLC**                          |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Net Lease                                    |  | Membership interest (7)(10)      |  | —            |  | 6/20/2018  |  | —                        |  | —                                |              |               | 452      |                  |               | 496             |               |               | 0.04     | %           |
| New LT Smile Holdings, LLC(25)               |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Healthcare Services                          |  | Ordinary shares (3)(10)          |  | —            |  | 6/5/2020   |  | —                        |  | 68                                     |              |               | —  |                  |               | —         |               |               |               |
|                                              |  | Ordinary shares (8)(10)          |  | —            |  | 6/5/2020   |  | —                        |  | 136                                    |              |               | —  |                  |               | —         |               |               |               |
|                                              |  | Ordinary shares (2)(10)          |  | —            |  | 6/5/2020   |  | —                        |  | 556                                    |              |               | —  |                  |               | —         |               |               |               |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | —  |               |                  | —  |                      |               | —  | %             |
| Total Shares - United States                 |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | $             | 372,816  |                  |               | $                    | 351,430  |               |               | 29.36  | %          |
| Total Shares                                 |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | $             | 380,161  |                  |               | $                    | 362,530  |               |               | 30.28  | %          |
| Warrants - United States                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Edmentum Ultimate Holdings, LLC (16)         |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Education                                    |  | Warrants (3)(10)                 |  | —            |  | 2/23/2018  |  | 5/5/2026               |  | 1,141,846                              |              |               | $             | 769         |               |                      | $             | 22,390   |               |             | 1.87  | %             |
| NHME Holdings Corp. (21)                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Healthcare Services                          |  | Warrants (3)(10)                 |  | —            |  | 11/27/2018 |  | —                        |  | 160,000                                |              |               | 1,000    |                  |               | 1,000           |               |               | 0.08     | %           |
| Total Warrants - United States               |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | $             | 1,769    |                  |               | $                    | 23,390   |               |               | 1.95   | %          |
| Total Funded Investments                     |  |                                  |  |                    |  |                    |  |                                |  |                                             |              | $             | 599,584  |                  |               | $                    | 593,006  |               |               | 49.53  | %          |
| Unfunded Debt Investments - United States    |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| New LT Smile Holdings, LLC (25)              |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Benevis Holding Corp.                        |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |
| Healthcare Services                          |  | First lien (3)(10)(11) - Undrawn |  | —            |  | 8/5/2020   |  | 11/5/2020              |  | $                                           | 10,371  |               |               | $                | —  |                      |               | $             | —  |             |            | —  | % |
|                                              |  |                                  |  |                    |  |                    |  |                                |  |                                             |              |               |               |                  |               |                      |

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Table of Contents

|                                                               |  |                                   |  |                    |  |                   |  |                                |  |                                             |              |            |                 |                  |               |                      |                 |   |               |              |   |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------|--|-----------------------------------|--|--------------------|--|-------------------|--|--------------------------------|--|---------------------------------------------|--------------|------------|-----------------|------------------|---------------|----------------------|-----------------|---|---------------|--------------|---|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry (1)                  |  | Type of Investment                |  | Interest Rate (12) |  | Acquisition Date  |  | Maturity / Expiration Date |  |  Principal Amount, Par Value or Shares |              |  Cost |                 |  Fair Value |               | Percent of NetAssets |
|                                                               |  |                                   |  |                    |  |                   |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Edmentum Ultimate Holdings, LLC (16)                          |  |                                   |  |                    |  |                   |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Edmentum, Inc. (fka Plato, Inc.) (Archipelago Learning, Inc.) |  |                                   |  |                    |  |                   |  |                                |  |                                             |              |            |                 |                  |               |                      |
| Education                                                     |  | Second lien (3)(10)(11) - Undrawn |  | —            |  | 4/15/2020 |  | 12/9/2021              |  | $                                           | 2,000   |            |                 | $                | —  |                      |                 | $ | —  |              |   | —  | % |
| Total Unfunded Debt Investments - United States               |  |                                   |  |                    |  |                   |  |                                |  | $                                           | 12,371  |            |                 | $                | —  |                      |                 | $ | —  |              |   | —  | % |
| Total Controlled Investments                                  |  |                                   |  |                    |  |                   |  |                                |  |                                             |              | $          | 599,584    |                  |               | $                    | 593,006    |   |               | 49.53   | % |
| Total Investments                                             |  |                                   |  |                    |  |                   |  |                                |  |                                             |              | $          | 2,978,287  |                  |               | $                    | 2,896,623  |   |               | 241.96  | % |

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Table of Contents

|                                                                                  |  |                                 |              |                   |           |                     |               |                          |  |                                                             |               |                                  |  |                |               |                |              |             |               |           |  |   |               |  |  |           |               |  |  |   |             |  |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------|--|---------------------------------|--------------|-------------------|-----------|---------------------|---------------|--------------------------|--|-------------------------------------------------------------|---------------|----------------------------------|--|----------------|---------------|----------------|--------------|-------------|---------------|-----------|--|---|---------------|--|--|-----------|---------------|--|--|---|-------------|--|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                                           |  | Fair Value at December 31, 2019 |              | GrossAdditions(A) |           | GrossRedemptions(B) |               | NetRealizedGains(Losses) |  | Net Change InUnrealizedAppreciation(Depreciation) |               | Fair Value at September 30, 2020 |  | InterestIncome |               | DividendIncome |              | OtherIncome |
| NMFC Senior Loan Program I LLC                                                   |  | $                               | 23,000  |                   |           | $                   | —  |                          |  | $                                                           | —  |                                  |  | $              | —  |                |              | $           | —  |           |  | $ | 23,000   |  |  | $         | —  |  |  | $ | 2,096  |  |  | $ | 781    |  |
| Permian Holdco 1, Inc. / Permian Holdco 2, Inc. / Permian Holdco 3, Inc. |  | 40,621                     |              |                   | (1,172)   |                     |               | (1,350)                  |  |                                                             | —  |                                  |  | (10,265)       |               |                | 27,834  |             |               | 548  |  |   | (3,418)       |  |  | 195  |               |
| Sierra Hamilton Holdings Corporation                                             |  | 9,906                      |              |                   | 178  |                     |               | (696)                    |  |                                                             | 12       |                                  |  | (4,453)        |               |                | 4,935   |             |               | 284  |  |   | —  |  |  | 26   |               |
| Total Non-Controlled/Affiliated Investments                                  |  | $                               | 73,527  |                   |           | $                   | (994)         |                          |  | $                                                           | (2,046)       |                                  |  | $              | 12       |                |              | $           | (14,718)      |           |  | $ | 55,769   |  |  | $         | 832      |  |  | $ | (1,322)     |  |  | $ | 1,002  |  |

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Table of Contents

|                                                             |  |                                 |               |                   |               |                     |               |                                |  |                                                             |               |                                  |  |                |          |                |               |             |             |               |  |   |               |  |  |               |              |  |  |   |               |  |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|---------------------------------|---------------|-------------------|---------------|---------------------|---------------|--------------------------------|--|-------------------------------------------------------------|---------------|----------------------------------|--|----------------|----------|----------------|---------------|-------------|-------------|---------------|--|---|---------------|--|--|---------------|--------------|--|--|---|---------------|--|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                      |  | Fair Value at December 31, 2019 |               | GrossAdditions(A) |               | GrossRedemptions(B) |               | Net RealizedGains(Losses) |  | Net Change InUnrealizedAppreciation(Depreciation) |               | Fair Value at September 30, 2020 |  | InterestIncome |          | DividendIncome |               | OtherIncome |
| Edmentum Ultimate Holdings, LLC/Edmentum Inc.           |  | $                               | 79,112   |                   |               | $                   | 20,245   |                                |  | $                                                           | (127)         |                                  |  | $              | 10  |                |               | $           | 7,710  |               |  | $ | 106,940  |  |  | $             | 5,461   |  |  | $ | —  |  |  | $ | 955    |  |
| National HME, Inc./NHME Holdings Corp.                  |  | 24,979                     |               |                   | 2,952    |                     |               | —                   |  |                                                             | —  |                                  |  | (1,071)        |          |                | 26,860   |             |             | 2,952    |  |   | —  |  |  | 875      |              |
| New LT Smile Holdings, LLC / Benevis Holdings Corp. (C) |  | —                    |               |                   | 67,101   |                     |               | (78)                           |  |                                                             | —  |                                  |  | 14,992    |          |                | 82,015   |             |             | 1,385    |  |   | —  |  |  | 311      |              |
| NM APP CANADA CORP                                          |  | 10,774                     |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 326       |          |                | 11,100   |             |             | —  |  |   | 705      |  |  | —  |              |
| NM APP US LLC                                               |  | 6,834                      |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 52        |          |                | 6,886    |             |             | —  |  |   | 491      |  |  | —  |              |
| NM CLFX LP                                                  |  | 12,723                     |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | (46)           |          |                | 12,677   |             |             | —  |  |   | 1,179    |  |  | —  |              |
| NM DRVT LLC                                                 |  | 6,016                      |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 964       |          |                | 6,980    |             |             | —  |  |   | 357      |  |  | —  |              |
| NM JRA LLC                                                  |  | 3,700                      |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 84        |          |                | 3,784    |             |             | —  |  |   | 204      |  |  | —  |              |
| NM GLCR LP                                                  |  | 23,800                     |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 2,664     |          |                | 26,464   |             |             | —  |  |   | 1,388    |  |  | —  |              |
| NM KRLN LLC                                                 |  | 2,379                      |               |                   | 717      |                     |               | —                   |  |                                                             | —  |                                  |  | (2,156)        |          |                | 940      |             |             | —  |  |   | —  |  |  | —  |              |
| NM NL Holdings, L.P.                                        |  | 48,308                     |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 1,281     |          |                | 49,589   |             |             | —  |  |   | 3,690    |  |  | —  |              |
| NM GP Holdco, LLC                                           |  | 487                        |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | 9         |          |                | 496      |             |             | —  |  |   | 38       |  |  | —  |              |
| NM YI LLC                                                   |  | 6,339                      |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | (164)          |          |                | 6,175    |             |             | —  |  |   | 462      |  |  | —  |              |
| NMFC Senior Loan Program II LLC                             |  | 79,400                     |               |                   | —  |                     |               | —                   |  |                                                             | —  |                                  |  | —   |          |                | 79,400   |             |             | —  |  |   | 6,723    |  |  | —  |              |
| NMFC Senior Loan Program III LLC                            |  | 100,000                    |               |                   | 20,000   |                     |               | —                   |  |                                                             | —  |                                  |  | —   |          |                | 120,000  |             |             | —  |  |   | 8,824    |  |  | —  |              |
| UniTek Global Services, Inc.                                |  | 68,101                     |               |                   | 17,690   |                     |               | (168)                          |  |                                                             | 2        |                                  |  | (32,923)       |          |                | 52,700   |             |             | 1,176    |  |   | 5,716    |  |  | 338      |              |
| Total Controlled Investments                                |  | $                               | 472,952  |                   |               | $                   | 128,705  |                                |  | $                                                           | (373)         |                                  |  | $              | 12  |                |               | $           | (8,278)     |               |  | $ | 593,006  |  |  | $             | 10,974  |  |  | $ | 29,777   |  |  | $ | 2,479  |  |

|  |  |  |
|--|--|--|
|  |

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Table of Contents

|                      |  |                                                                    |   |  |  |  |  |  |
|----------------------|--|--------------------------------------------------------------------|---|--|--|--|--|--|
|                 |  | September 30, 2020                                                 |
| Investment Type |  | Percent of TotalInvestments at Fair Value |
| First lien           |  | 57.40                                                         | % |
| Second lien          |  | 23.80                                                         | % |
| Subordinated         |  | 1.50                                                          | % |
| Equity and other     |  | 17.30                                                         | % |
| Total investments    |  | 100.00                                                        | % |

|                                                          |  |                                                                    |   |  |  |  |  |  |
|----------------------------------------------------------|--|--------------------------------------------------------------------|---|--|--|--|--|--|
|                                                     |  | September 30, 2020                                                 |
| Industry Type                                       |  | Percent of TotalInvestments at Fair Value |
| Software                                                 |  | 26.83                                                         | % |
| Business Services                                        |  | 20.78                                                         | % |
| Healthcare Services                                      |  | 15.61                                                         | % |
| Education                                                |  | 8.79                                                          | % |
| Investment Fund (includes investments in joint ventures) |  | 7.68                                                          | % |
| Net Lease                                                |  | 4.32                                                          | % |
| Federal Services                                         |  | 3.49                                                          | % |
| Healthcare Information Technology                        |  | 2.71                                                          | % |
| Consumer Services                                        |  | 2.64                                                          | % |
| Specialty Chemicals & Materials                      |  | 2.07                                                          | % |
| Distribution & Logistics                             |  | 1.88                                                          | % |
| Industrial Services                                      |  | 1.28                                                          | % |
| Energy                                                   |  | 1.13                                                          | % |
| Packaging                                                |  | 0.42                                                          | % |
| Business Products                                        |  | 0.37                                                          | % |
| Total investments                                        |  | 100.00                                                        | % |

|                              |  |                                                                    |   |  |  |  |  |  |
|------------------------------|--|--------------------------------------------------------------------|---|--|--|--|--|--|
|                         |  | September 30, 2020                                                 |
| Interest Rate Type |  | Percent of TotalInvestments at Fair Value |
| Floating rates               |  | 95.14                                                         | % |
| Fixed rates                  |  | 4.86                                                          | % |
| Total investments            |  | 100.00                                                        | % |

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Table of Contents

|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |  |   |              |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------|--|-------------------------------|--|--------------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|--------------|------------|--------------|---------------------|--|---|--------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                                           |  | Type ofInvestment             |  | Interest Rate (11)                   |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |              | Fair Value |              | Percent ofNetAssets |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
| Non-Controlled/Non-Affiliated Investments                                         |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
| Funded Debt Investments - Canada                                                      |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Dentalcorp Health Services ULC (fka Dentalcorp Perfect Smile ULC)** |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services                               |  | Second lien (3)               |  | 9.30% (L + 7.50%/M)              |  | 6/1/2018   |  | 6/8/2026            |  | $                                  | 28,613  |      |              | $          | 28,390  |                     |  | $ | 27,754  |   |  |            |
|                                                                                       |  | Second lien (8)               |  | 9.30% (L + 7.50%/M)              |  | 6/1/2018   |  | 6/8/2026            |  | 7,500                         |              |      | 7,445   |            |              | 7,275          |  |   |              |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  | 36,113                        |              |      | 35,835  |            |              | 35,029         |  |   | 2.73    | % |
|    Wolfpack IP Co.**                                                   |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                          |  | First lien (2)(9)             |  | 8.29% (L + 6.50%/M)              |  | 6/14/2019  |  | 6/13/2025           |  | 9,091                         |              |      | 9,007   |            |              | 9,000          |  |   | 0.70    | % |
| Total Funded Debt Investments - Canada                                                |  |                               |  |                                      |  |                    |  |                             |  | $                                  | 45,204  |      |              | $          | 44,842  |                     |  | $ | 44,029  |   |  | 3.43  | % |
| Funded Debt Investments - United Arab Emirates                                        |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    GEMS Menasa (Cayman) Limited**                                      |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Education                                         |  | First lien (8)                |  | 6.91% (L + 5.00%/Q)              |  | 7/30/2019  |  | 7/31/2026           |  | $                                  | 33,405  |      |              | $          | 33,240  |                     |  | $ | 33,488  |   |  | 2.61  | % |
| Total Funded Debt Investments - United Arab Emirates                                  |  |                               |  |                                      |  |                    |  |                             |  | $                                  | 33,405  |      |              | $          | 33,240  |                     |  | $ | 33,488  |   |  | 2.61  | % |
| Funded Debt Investments - United Kingdom                                              |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Shine Acquisition Co. S.à.r.l / Boing US Holdco Inc.**     |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Consumer Services                                 |  | Second lien (2)               |  | 9.24% (L + 7.50%/M)              |  | 9/25/2017  |  | 10/3/2025           |  | $                                  | 37,853  |      |              | $          | 37,671  |                     |  | $ | 36,717  |   |  |            |
|                                                                                       |  | Second lien (8)               |  | 9.24% (L + 7.50%/M)              |  | 9/25/2017  |  | 10/3/2025           |  | 6,000                         |              |      | 5,971   |            |              | 5,820          |  |   |              |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  | 43,853                        |              |      | 43,642  |            |              | 42,537         |  |   | 3.32    | % |
|    Aston FinCo S.a r.l. / Aston US Finco, LLC**                    |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                          |  | Second lien (8)(9)            |  | 10.26% (L + 8.25%/Q)             |  | 10/8/2019  |  | 10/8/2027           |  | 34,459                        |              |      | 34,187  |            |              | 34,201         |  |   | 2.66    | % |
| Total Funded Debt Investments - United Kingdom                                        |  |                               |  |                                      |  |                    |  |                             |  | $                                  | 78,312  |      |              | $          | 77,829  |                     |  | $ | 76,738  |   |  | 5.98  | % |
| Funded Debt Investments - United States                                               |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Benevis Holding Corp.                                               |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services                               |  | First lien (2)(9)             |  | 8.25% (L + 6.32%/Q)              |  | 3/15/2018  |  | 3/15/2024           |  | $                                  | 62,731  |      |              | $          | 62,731  |                     |  | $ | 62,323  |   |  |            |
|                                                                                       |  | First lien (8)(9)             |  | 8.25% (L + 6.32%/Q)              |  | 3/15/2018  |  | 3/15/2024           |  | 15,391                        |              |      | 15,391  |            |              | 15,291         |  |   |              |
|                                                                                       |  | First lien (3)(9)             |  | 8.25% (L + 6.32%/Q)              |  | 3/29/2019  |  | 3/15/2024           |  | 7,743                         |              |      | 7,743   |            |              | 7,693          |  |   |              |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  | 85,865                        |              |      | 85,865  |            |              | 85,307         |  |   | 6.64    | % |
|    PhyNet Dermatology LLC                                              |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services                               |  | First lien (2)(9)             |  | 7.30% (L + 5.50%/M)              |  | 9/17/2018  |  | 8/16/2024           |  | 50,368                        |              |      | 49,956  |            |              | 50,368         |  |   |              |
|                                                                                       |  | First lien (3)(9)(10) - Drawn |  | 7.30% (L + 5.50%/M)              |  | 9/17/2018  |  | 8/16/2024           |  | 28,139                        |              |      | 28,009  |            |              | 28,139         |  |   |              |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  | 78,507                        |              |      | 77,965  |            |              | 78,507         |  |   | 6.11    | % |
|    Kronos Incorporated                                                 |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                          |  | Second lien (2)               |  | 10.16% (L + 8.25%/Q)             |  | 10/26/2012 |  | 11/1/2024           |  | 49,210                        |              |      | 48,955  |            |              | 50,563         |  |   |              |
|                                                                                       |  | Second lien (8)               |  | 10.16% (L + 8.25%/Q)             |  | 10/26/2012 |  | 11/1/2024           |  | 11,147                        |              |      | 11,147  |            |              | 11,453         |  |   |              |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  | 60,357                        |              |      | 60,102  |            |              | 62,016         |  |   | 4.83    | % |
|    Associations, Inc.                                                  |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                                 |  | First lien (2)(9)             |  | 9.09% (L + 4.00% + 3.00% PIK/Q)* |  | 7/30/2018  |  | 7/30/2024           |  | 44,557                        |              |      | 44,332  |            |              | 44,557         |  |   |              |
|                                                                                       |  | First lien (8)(9)             |  | 9.09% (L + 4.00% + 3.00% PIK/Q)* |  | 7/30/2018  |  | 7/30/2024           |  | 5,115                         |              |      | 5,090   |            |              | 5,115          |  |   |              |
|                                                                                       |  | First lien (3)(9)(10) - Drawn |  | 9.06% (L + 4.00% + 3.00% PIK/Q)* |  | 7/30/2018  |  | 7/30/2024           |  | 7,171                         |              |      | 7,133   |            |              | 7,171          |  |   |              |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  | 56,843                        |              |      | 56,555  |            |              | 56,843         |  |   | 4.43    | % |
|                                                                                       |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |

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Table of Contents

|                                                                  |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |  |   |              |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------|--|-------------------------------|--|--------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|--------------|------------|--------------|---------------------|--|---|--------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                      |  | Type ofInvestment             |  | Interest Rate (11)       |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |              | Fair Value |              | Percent ofNetAssets |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Nomad Buyer, Inc.                              |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services          |  | First lien (2)                |  | 6.74% (L + 5.00%/M)  |  | 8/3/2018   |  | 8/1/2025            |  | $                                  | 56,439  |      |              | $          | 54,867  |                     |  | $ | 56,298  |   |  | 4.39  | % |
|    GS Acquisitionco, Inc.                         |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | First lien (2)(9)             |  | 7.55% (L + 5.75%/M)  |  | 8/7/2019   |  | 5/24/2024           |  | 26,894                        |              |      | 26,738  |            |              | 26,725         |  |   |              |
|                                                                  |  | First lien (5)(9)             |  | 7.55% (L + 5.75%/M)  |  | 8/7/2019   |  | 5/24/2024           |  | 22,406                        |              |      | 22,276  |            |              | 22,266         |  |   |              |
|                                                                  |  | First lien (3)(9)(10) - Drawn |  | 7.55% (L + 5.75%/M)  |  | 8/7/2019   |  | 5/25/2024           |  | 3,720                         |              |      | 3,698   |            |              | 3,697          |  |   |              |
|                                                                  |  | First lien (3)(9)(10) - Drawn |  | 7.55% (L + 5.75%/M)  |  | 8/7/2019   |  | 5/25/2024           |  | 3,510                         |              |      | 3,488   |            |              | 3,488          |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 56,530                        |              |      | 56,200  |            |              | 56,176         |  |   | 4.38    | % |
|    iCIMS, Inc.                                    |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | First lien (8)(9)             |  | 8.29% (L + 6.50%/M)  |  | 9/12/2018  |  | 9/12/2024           |  | 46,636                        |              |      | 46,229  |            |              | 46,636         |  |   |              |
|                                                                  |  | First lien (8)(9)             |  | 8.29% (L + 6.50%/M)  |  | 6/14/2019  |  | 9/12/2024           |  | 8,667                         |              |      | 8,587   |            |              | 8,667          |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 55,303                        |              |      | 54,816  |            |              | 55,303         |  |   | 4.31    | % |
|    ConnectWise, LLC                               |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | First lien (2)(9)             |  | 7.94% (L + 6.00%/Q)  |  | 11/26/2019 |  | 2/28/2025           |  | 55,613                        |              |      | 55,270  |            |              | 55,265         |  |   | 4.31    | % |
|    CentralSquare Technologies, LLC                |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | Second lien (3)               |  | 9.30% (L + 7.50%/M)  |  | 8/15/2018  |  | 8/31/2026           |  | 47,838                        |              |      | 47,297  |            |              | 45,087         |  |   |              |
|                                                                  |  | Second lien (8)               |  | 9.30% (L + 7.50%/M)  |  | 8/15/2018  |  | 8/31/2026           |  | 7,500                         |              |      | 7,415   |            |              | 7,069          |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 55,338                        |              |      | 54,712  |            |              | 52,156         |  |   | 4.06    | % |
|    Dealer Tire, LLC                               |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Distribution & Logistics |  | First lien (2)                |  | 7.30% (L + 5.50%/M)  |  | 12/4/2018  |  | 12/12/2025          |  | 51,386                        |              |      | 50,251  |            |              | 51,577         |  |   | 4.02    | % |
|    Salient CRGT Inc.                              |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Federal Services             |  | First lien (2)                |  | 8.29% (L + 6.50%/M)  |  | 1/6/2015   |  | 2/28/2022           |  | 39,312                        |              |      | 39,049  |            |              | 37,445         |  |   |              |
|                                                                  |  | First lien (8)                |  | 8.29% (L + 6.50%/M)  |  | 6/6/2019   |  | 2/28/2022           |  | 13,434                        |              |      | 12,987  |            |              | 12,795         |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 52,746                        |              |      | 52,036  |            |              | 50,240         |  |   | 3.91    | % |
|    NM GRC Holdco, LLC                             |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services            |  | First lien (2)(9)             |  | 7.94% (L + 6.00%/Q)  |  | 2/9/2018   |  | 2/9/2024            |  | 38,346                        |              |      | 38,206  |            |              | 38,346         |  |   |              |
|                                                                  |  | First lien (2)(9)(10) - Drawn |  | 7.94% (L + 6.00%/Q)  |  | 2/9/2018   |  | 2/9/2024            |  | 10,658                        |              |      | 10,616  |            |              | 10,658         |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 49,004                        |              |      | 48,822  |            |              | 49,004         |  |   | 3.82    | % |
|    Frontline Technologies Group Holdings, LLC     |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Education                    |  | First lien (4)(9)             |  | 7.55% (L + 5.75%/M)  |  | 9/18/2017  |  | 9/18/2023           |  | 22,162                        |              |      | 22,050  |            |              | 22,162         |  |   |              |
|                                                                  |  | First lien (2)(9)             |  | 7.55% (L + 5.75%/M)  |  | 9/18/2017  |  | 9/18/2023           |  | 18,677                        |              |      | 18,619  |            |              | 18,677         |  |   |              |
|                                                                  |  | First lien (2)(9)             |  | 7.55% (L + 5.75%/M)  |  | 9/18/2017  |  | 9/18/2023           |  | 7,710                         |              |      | 7,658   |            |              | 7,710          |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 48,549                        |              |      | 48,327  |            |              | 48,549         |  |   | 3.78    | % |
|    Integro Parent Inc.                            |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services            |  | First lien (2)(9)             |  | 7.54% (L + 5.75%/M)  |  | 10/9/2015  |  | 10/31/2022          |  | 35,024                        |              |      | 34,892  |            |              | 35,024         |  |   |              |
|                                                                  |  | Second lien (8)(9)            |  | 11.04% (L + 9.25%/M) |  | 10/9/2015  |  | 10/30/2023          |  | 10,000                        |              |      | 9,941   |            |              | 10,000         |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 45,024                        |              |      | 44,833  |            |              | 45,024         |  |   | 3.51    | % |
|    Brave Parent Holdings, Inc.                    |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | Second lien (5)               |  | 9.43% (L + 7.50%/Q)  |  | 4/17/2018  |  | 4/17/2026           |  | 22,500                        |              |      | 22,404  |            |              | 21,825         |  |   |              |
|                                                                  |  | Second lien (2)               |  | 9.43% (L + 7.50%/Q)  |  | 4/17/2018  |  | 4/17/2026           |  | 16,624                        |              |      | 16,480  |            |              | 16,125         |  |   |              |
|                                                                  |  | Second lien (8)               |  | 9.43% (L + 7.50%/Q)  |  | 4/17/2018  |  | 4/17/2026           |  | 6,000                         |              |      | 5,948   |            |              | 5,820          |  |   |              |
|                                                                  |  |                               |  |                          |  |                    |  |                             |  | 45,124                        |              |      | 44,832  |            |              | 43,770         |  |   | 3.41    | % |
|    Quest Software US Holdings Inc.                |  |                               |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | Second lien (2)               |  | 10.18% (L + 8.25%/Q) |  | 5/17/2018  |  | 5/18/2026           |  | 43,697                        |              |      | 43,320  |            |              | 42,851         |  |   | 3.35    | % |

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Table of Contents

|                                                                       |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------|--|----------------------------|--|--------------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|--------------|------------|--------------|---------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                           |  | Type ofInvestment          |  | Interest Rate (11)                   |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |              | Fair Value |              | Percent ofNetAssets |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Symplr Software Intermediate Holdings, Inc. (23)    |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Symplr Software, Inc. (fka Caliper Software, Inc.)  |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Information Technology |  | First lien (2)(9)          |  | 7.94% (L + 6.00%/Q)              |  | 11/30/2018 |  | 11/28/2025          |  | $                                  | 25,561  |      |              | $          | 25,387  |                     |  | $ | 25,561  |   |  |  |
|                                                                       |  | First lien (4)(9)          |  | 7.94% (L + 6.00%/Q)              |  | 11/30/2018 |  | 11/28/2025          |  | 14,850                        |              |      | 14,752  |            |              | 14,850         |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 40,411                        |              |      | 40,139  |            |              | 40,411         |  |   | 3.15    | % |
|    Tenawa Resource Holdings LLC (13)                   |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Tenawa Resource Management LLC                      |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Energy                            |  | First lien (3)(9)          |  | 10.50% (Base + 8.00%/Q)          |  | 5/12/2014  |  | 10/30/2024          |  | 39,000                        |              |      | 38,950  |            |              | 39,000         |  |   | 3.04    | % |
|    KAMC Holdings, Inc                                  |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | Second lien (2)(9)         |  | 9.91% (L + 8.00%/Q)              |  | 8/14/2019  |  | 8/13/2027           |  | 18,750                        |              |      | 18,614  |            |              | 18,609         |  |   |              |
|                                                                       |  | Second lien (8)(9)         |  | 9.91% (L + 8.00%/Q)              |  | 8/14/2019  |  | 8/13/2027           |  | 18,750                        |              |      | 18,614  |            |              | 18,609         |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 37,500                        |              |      | 37,228  |            |              | 37,218         |  |   | 2.90    | % |
|    Trader Interactive, LLC                             |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | First lien (2)(9)          |  | 8.30% (L + 6.50%/M)              |  | 6/15/2017  |  | 6/17/2024           |  | 31,932                        |              |      | 31,776  |            |              | 31,932         |  |   |              |
|                                                                       |  | First lien (8)(9)          |  | 8.30% (L + 6.50%/M)              |  | 6/15/2017  |  | 6/17/2024           |  | 4,949                         |              |      | 4,925   |            |              | 4,949          |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 36,881                        |              |      | 36,701  |            |              | 36,881         |  |   | 2.87    | % |
|    Peraton Holding Corp. (fka MHVC Acquisition Corp.)  |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Federal Services                  |  | First lien (2)             |  | 7.05% (L + 5.25%/M)              |  | 4/25/2017  |  | 4/29/2024           |  | 36,907                        |              |      | 36,781  |            |              | 36,745         |  |   | 2.86    | % |
|    Apptio, Inc.                                        |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                          |  | First lien (8)(9)          |  | 8.96% (L + 7.25%/M)              |  | 1/10/2019  |  | 1/10/2025           |  | 34,076                        |              |      | 33,473  |            |              | 33,394         |  |   | 2.60    | % |
|    Definitive Healthcare Holdings, LLC                 |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Information Technology |  | First lien (8)(9)          |  | 8.40% (L + 5.50% + 1.00% PIK/Q)* |  | 8/7/2019   |  | 7/16/2026           |  | 33,402                        |              |      | 33,244  |            |              | 33,234         |  |   | 2.59    | % |
|    Finalsite Holdings, Inc.                            |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                          |  | First lien (4)(9)          |  | 6.93% (L + 5.00%/Q)              |  | 9/28/2018  |  | 9/25/2024           |  | 22,219                        |              |      | 22,081  |            |              | 22,219         |  |   |              |
|                                                                       |  | First lien (2)(9)          |  | 6.93% (L + 5.00%/Q)              |  | 9/28/2018  |  | 9/25/2024           |  | 10,974                        |              |      | 10,906  |            |              | 10,974         |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 33,193                        |              |      | 32,987  |            |              | 33,193         |  |   | 2.59    | % |
|    TDG Group Holding Company                           |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Consumer Services                 |  | First lien (2)(9)          |  | 7.44% (L + 5.50%/Q)              |  | 5/22/2018  |  | 5/31/2024           |  | 24,860                        |              |      | 24,763  |            |              | 24,860         |  |   |              |
|                                                                       |  | First lien (8)(9)          |  | 7.44% (L + 5.50%/Q)              |  | 5/22/2018  |  | 5/31/2024           |  | 4,950                         |              |      | 4,931   |            |              | 4,950          |  |   |              |
|                                                                       |  | First lien (2)(9)          |  | 7.44% (L + 5.50%/Q)              |  | 5/22/2018  |  | 5/31/2024           |  | 3,321                         |              |      | 3,307   |            |              | 3,321          |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 33,131                        |              |      | 33,001  |            |              | 33,131         |  |   | 2.58    | % |
|    CoolSys, Inc.                                       |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Industrial Services               |  | First lien (5)             |  | 7.80% (L + 6.00%/M)              |  | 11/20/2019 |  | 11/20/2026          |  | 22,500                        |              |      | 22,388  |            |              | 22,388         |  |   |              |
|                                                                       |  | First lien (2)             |  | 7.80% (L + 6.00%/M)              |  | 11/20/2019 |  | 11/20/2026          |  | 10,400                        |              |      | 10,348  |            |              | 10,348         |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 32,900                        |              |      | 32,736  |            |              | 32,736         |  |   | 2.55    | % |
|    Ansira Holdings, Inc.                               |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | First lien (8)             |  | 7.55% (L + 5.75%/M)              |  | 12/19/2016 |  | 12/20/2022          |  | 28,455                        |              |      | 28,378  |            |              | 27,032         |  |   |              |
|                                                                       |  | First lien (3)(10) - Drawn |  | 7.51% (L + 5.75%/M)              |  | 12/19/2016 |  | 12/20/2022          |  | 4,743                         |              |      | 4,731   |            |              | 4,506          |  |   |              |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  | 33,198                        |              |      | 33,109  |            |              | 31,538         |  |   | 2.46    | % |
|                                                                       |  |                            |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |

----

Table of Contents

|                                                                  |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------|--|-------------------------------|--|--------------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|--------------|------------|--------------|---------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                      |  | Type ofInvestment             |  | Interest Rate (11)                   |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |              | Fair Value |              | Percent ofNetAssets |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    DCA Investment Holding, LLC                    |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services          |  | First lien (2)(9)             |  | 7.19% (L + 5.25%/Q)              |  | 7/2/2015   |  | 7/2/2021            |  | $                                  | 17,095  |      |              | $          | 17,046  |                     |  | $ | 17,095  |   |  |  |
|                                                                  |  | First lien (3)(9)             |  | 7.19% (L + 5.25%/Q)              |  | 12/20/2017 |  | 7/2/2021            |  | 8,890                         |              |      | 8,834   |            |              | 8,890          |  |   |              |
|                                                                  |  | First lien (2)(9)             |  | 7.19% (L + 5.25%/Q)              |  | 12/20/2017 |  | 7/2/2021            |  | 4,184                         |              |      | 4,163   |            |              | 4,184          |  |   |              |
|                                                                  |  | First lien (3)(9)(10) - Drawn |  | 9.00% (P + 4.25%/Q)              |  | 7/2/2015   |  | 7/2/2021            |  | 608                           |              |      | 602     |            |              | 608            |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 30,777                        |              |      | 30,645  |            |              | 30,777         |  |   | 2.40    | % |
|    Integral Ad Science, Inc.                      |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | First lien (8)(9)             |  | 9.05% (L + 6.00% + 1.25% PIK/M)* |  | 7/19/2018  |  | 7/19/2024           |  | 26,843                        |              |      | 26,616  |            |              | 26,843         |  |   |              |
|                                                                  |  | First lien (3)(9)             |  | 9.05% (L + 6.00% + 1.25% PIK/M)* |  | 8/27/2019  |  | 7/19/2024           |  | 3,507                         |              |      | 3,474   |            |              | 3,507          |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 30,350                        |              |      | 30,090  |            |              | 30,350         |  |   | 2.36    | % |
|    Conservice, LLC                                |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services            |  | First lien (2)(9)             |  | 7.05% (L + 5.25%/M)              |  | 1/3/2019   |  | 11/29/2024          |  | 25,311                        |              |      | 25,202  |            |              | 25,184         |  |   |              |
|                                                                  |  | First lien (3)(9)(10) - Drawn |  | 7.05% (L + 5.25%/M)              |  | 1/3/2019   |  | 11/29/2024          |  | 4,418                         |              |      | 4,398   |            |              | 4,396          |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 29,729                        |              |      | 29,600  |            |              | 29,580         |  |   | 2.30    | % |
|    Kaseya Traverse Inc.                           |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                     |  | First lien (8)(9)             |  | 8.72% (L + 5.50% + 1.00% PIK/S)* |  | 5/9/2019   |  | 5/2/2025            |  | 27,525                        |              |      | 27,274  |            |              | 27,250         |  |   |              |
|                                                                  |  | First lien (3)(9)(10) - Drawn |  | 8.45% (L + 6.50%/Q)              |  | 5/9/2019   |  | 5/2/2025            |  | 1,321                         |              |      | 1,308   |            |              | 1,308          |  |   |              |
|                                                                  |  | First lien (3)(9)(10) - Drawn |  | 8.69% (L + 5.50% + 1.00% PIK/S)* |  | 5/9/2019   |  | 5/2/2025            |  | 430                           |              |      | 426     |            |              | 426            |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 29,276                        |              |      | 29,008  |            |              | 28,984         |  |   | 2.26    | % |
|    Clarkson Eyecare, LLC                          |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services          |  | First lien (2)                |  | 8.05% (L + 6.25%/M)              |  | 8/21/2019  |  | 4/2/2021            |  | 17,300                        |              |      | 17,149  |            |              | 17,300         |  |   |              |
|                                                                  |  | First lien (2)                |  | 8.05% (L + 6.25%/M)              |  | 9/11/2019  |  | 4/2/2021            |  | 11,533                        |              |      | 11,433  |            |              | 11,533         |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 28,833                        |              |      | 28,582  |            |              | 28,833         |  |   | 2.25    | % |
|    Keystone Acquisition Corp.                     |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services          |  | First lien (2)                |  | 7.19% (L + 5.25%/Q)              |  | 5/10/2017  |  | 5/1/2024            |  | 24,482                        |              |      | 24,369  |            |              | 23,992         |  |   |              |
|                                                                  |  | Second lien (2)               |  | 11.19% (L + 9.25%/Q)             |  | 5/10/2017  |  | 5/1/2025            |  | 4,500                         |              |      | 4,465   |            |              | 4,399          |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 28,982                        |              |      | 28,834  |            |              | 28,391         |  |   | 2.21    | % |
|    Sovos Brands Intermediate, Inc.                |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Food & Beverage          |  | First lien (2)                |  | 6.80% (L + 5.00%/M)              |  | 11/16/2018 |  | 11/20/2025          |  | 27,957                        |              |      | 27,834  |            |              | 27,957         |  |   | 2.18    | % |
|    Affinity Dental Management, Inc.               |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services          |  | First lien (4)(9)             |  | 8.07% (L + 6.00%/S)              |  | 9/17/2019  |  | 9/15/2023           |  | 10,945                        |              |      | 10,945  |            |              | 10,945         |  |   |              |
|                                                                  |  | First lien (2)(9)             |  | 8.01% (L + 6.00%/S)              |  | 9/15/2017  |  | 9/15/2023           |  | 11,316                        |              |      | 11,288  |            |              | 11,316         |  |   |              |
|                                                                  |  | First lien (3)(9)             |  | 8.00% (L + 6.00%/S)              |  | 9/15/2017  |  | 9/15/2023           |  | 5,224                         |              |      | 5,194   |            |              | 5,224          |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 27,485                        |              |      | 27,427  |            |              | 27,485         |  |   | 2.14    | % |
|    Confluent Health, LLC                          |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services          |  | First lien (2)                |  | 6.80% (L + 5.00%/M)              |  | 6/21/2019  |  | 6/24/2026           |  | 27,363                        |              |      | 27,233  |            |              | 27,363         |  |   | 2.13    | % |
|    TMK Hawk Parent, Corp.                         |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Distribution & Logistics |  | First lien (2)                |  | 5.30% (L + 3.50%/M)              |  | 6/24/2019  |  | 8/28/2024           |  | 16,908                        |              |      | 14,483  |            |              | 13,865         |  |   |              |
|                                                                  |  | First lien (8)                |  | 5.30% (L + 3.50%/M)              |  | 10/23/2019 |  | 8/28/2024           |  | 16,308                        |              |      | 13,388  |            |              | 13,373         |  |   |              |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  | 33,216                        |              |      | 27,871  |            |              | 27,238         |  |   | 2.12    | % |
|                                                                  |  |                               |  |                                      |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |

----

Table of Contents

|                                                                                |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------|--|--------------------|--|--------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|--------------|------------|--------------|---------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                                    |  | Type ofInvestment  |  | Interest Rate (11)       |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |              | Fair Value |              | Percent ofNetAssets |
|                                                                                |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    HS Purchaser, LLC  / Help/Systems Holdings, Inc.     |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                   |  | Second lien (5)    |  | 9.80% (L + 8.00%/M)  |  | 11/14/2019 |  | 11/19/2027          |  | $                                  | 22,500  |      |              | $          | 22,380  |                     |  | $ | 22,388  |   |  |  |
|                                                                                |  | Second lien (2)    |  | 9.80% (L + 8.00%/M)  |  | 11/14/2019 |  | 11/19/2027          |  | 4,208                         |              |      | 4,166   |            |              | 4,187          |  |   |              |
|                                                                                |  |                    |  |                          |  |                    |  |                             |  | 26,708                        |              |      | 26,546  |            |              | 26,575         |  |   | 2.07    | % |
|    GC Waves Holdings, Inc.**                                    |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                          |  | First lien (5)(9)  |  | 7.55% (L + 5.75%/M)  |  | 10/31/2019 |  | 10/31/2025          |  | 22,500                        |              |      | 22,335  |            |              | 22,331         |  |   |              |
|                                                                                |  | First lien (2)(9)  |  | 7.55% (L + 5.75%/M)  |  | 10/31/2019 |  | 10/31/2025          |  | 3,673                         |              |      | 3,646   |            |              | 3,645          |  |   |              |
|                                                                                |  |                    |  |                          |  |                    |  |                             |  | 26,173                        |              |      | 25,981  |            |              | 25,976         |  |   | 2.02    | % |
|    Spring Education Group, Inc (fka SSH Group Holdings, Inc.)   |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Education                                  |  | Second lien (2)    |  | 10.19% (L + 8.25%/Q) |  | 7/26/2018  |  | 7/30/2026           |  | 24,533                        |              |      | 24,476  |            |              | 24,488         |  |   | 1.91    | % |
|    AAC Holding Corp.                                            |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Education                                  |  | First lien (2)(9)  |  | 9.95% (L + 8.25%/M)  |  | 9/30/2015  |  | 9/30/2022           |  | 24,956                        |              |      | 24,866  |            |              | 23,110         |  |   | 1.80    | % |
|    Idera, Inc.                                                  |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                   |  | Second lien (4)    |  | 10.80% (L + 9.00%/M) |  | 6/27/2019  |  | 6/28/2027           |  | 22,500                        |              |      | 22,338  |            |              | 22,612         |  |   | 1.76    | % |
|    Convey Health Solutions, Inc.                                |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services                        |  | First lien (4)(9)  |  | 6.94% (L + 5.25%/M)  |  | 9/9/2019   |  | 9/4/2026            |  | 22,444                        |              |      | 22,200  |            |              | 22,191         |  |   | 1.73    | % |
|    Avatar Topco, Inc. (22)                                      |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    EAB Global, Inc.                                             |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Education                                  |  | Second lien (3)    |  | 9.49% (L + 7.50%/S)  |  | 11/17/2017 |  | 11/17/2025          |  | 13,950                        |              |      | 13,782  |            |              | 13,950         |  |   |              |
|                                                                                |  | Second lien (8)    |  | 9.49% (L + 7.50%/S)  |  | 11/17/2017 |  | 11/17/2025          |  | 7,500                         |              |      | 7,410   |            |              | 7,500          |  |   |              |
|                                                                                |  |                    |  |                          |  |                    |  |                             |  | 21,450                        |              |      | 21,192  |            |              | 21,450         |  |   | 1.67    | % |
|    CRCI Longhorn Holdings, Inc.                                 |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                          |  | Second lien (3)    |  | 8.99% (L + 7.25%/M)  |  | 8/2/2018   |  | 8/10/2026           |  | 14,349                        |              |      | 14,301  |            |              | 14,062         |  |   |              |
|                                                                                |  | Second lien (8)    |  | 8.99% (L + 7.25%/M)  |  | 8/2/2018   |  | 8/10/2026           |  | 7,500                         |              |      | 7,475   |            |              | 7,350          |  |   |              |
|                                                                                |  |                    |  |                          |  |                    |  |                             |  | 21,849                        |              |      | 21,776  |            |              | 21,412         |  |   | 1.67    | % |
|    National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.) |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services                        |  | Second lien (2)    |  | 10.30% (L + 8.50%/M) |  | 2/5/2019   |  | 3/8/2027            |  | 21,051                        |              |      | 20,609  |            |              | 20,999         |  |   | 1.64    | % |
|    MED Parentco, LP                                             |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services                        |  | Second lien (8)    |  | 10.05% (L + 8.25%/M) |  | 8/2/2019   |  | 8/30/2027           |  | 20,857                        |              |      | 20,703  |            |              | 20,753         |  |   | 1.62    | % |
|    Institutional Shareholder Services, Inc.                     |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                          |  | Second lien (3)    |  | 10.44% (L + 8.50%/Q) |  | 3/5/2019   |  | 3/5/2027            |  | 20,372                        |              |      | 20,087  |            |              | 19,557         |  |   | 1.52    | % |
|    DiversiTech Holdings, Inc.                                   |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Distribution & Logistics               |  | Second lien (2)    |  | 9.44% (L + 7.50%/Q)  |  | 5/18/2017  |  | 6/2/2025            |  | 12,000                        |              |      | 11,909  |            |              | 11,760         |  |   |              |
|                                                                                |  | Second lien (8)    |  | 9.44% (L + 7.50%/Q)  |  | 5/18/2017  |  | 6/2/2025            |  | 7,500                         |              |      | 7,443   |            |              | 7,350          |  |   |              |
|                                                                                |  |                    |  |                          |  |                    |  |                             |  | 19,500                        |              |      | 19,352  |            |              | 19,110         |  |   | 1.49    | % |
|    Xactly Corporation                                           |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                   |  | First lien (4)(9)  |  | 9.05% (L + 7.25%/M)  |  | 7/31/2017  |  | 7/29/2022           |  | 19,047                        |              |      | 18,925  |            |              | 19,047         |  |   | 1.48    | % |
|    FR Arsenal Holdings II Corp.                                 |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                          |  | First lien (2)(9)  |  | 9.19% (L + 7.25%/Q)  |  | 9/29/2016  |  | 9/8/2022            |  | 18,355                        |              |      | 18,249  |            |              | 18,355         |  |   | 1.43    | % |
|    YLG Holdings, Inc.                                           |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                          |  | First lien (5)     |  | 7.66% (L + 5.75%/Q)  |  | 11/1/2019  |  | 10/31/2025          |  | 18,413                        |              |      | 18,323  |            |              | 18,321         |  |   | 1.43    | % |
|    Geo Parent Corporation                                       |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                          |  | First lien (2)     |  | 7.05% (L + 5.25%/M)  |  | 12/13/2018 |  | 12/19/2025          |  | 18,364                        |              |      | 18,282  |            |              | 18,318         |  |   | 1.43    | % |
|    Bluefin Holding, LLC                                         |  |                    |  |                          |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                                   |  | Second lien (8)(9) |  | 9.64% (L + 7.75%/Q)  |  | 9/6/2019   |  | 9/6/2027            |  | 18,000                        |              |      | 18,000  |            |              | 18,000         |  |   | 1.40    | % |

----

Table of Contents

|                                                                       |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |  |   |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------|--|--------------------------------|--|---------------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|--------------|------------|--------------|---------------------|--|---|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                           |  | Type ofInvestment              |  | Interest Rate (11)                    |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |              | Fair Value |              | Percent ofNetAssets |
|                                                                       |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|    Bullhorn, Inc.                                      |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                          |  | First lien (2)(9)              |  | 7.44% (L + 5.50%/Q)               |  | 9/24/2019  |  | 10/1/2025           |  | $                                  | 17,174  |      |              | $          | 17,049  |                     |  | $ | 17,045  |   |  |  |
|                                                                       |  | First lien (3)(9)(10) - Drawn  |  | 7.46% (L + 5.50%/Q)               |  | 9/24/2019  |  | 10/1/2025           |  | 284                           |              |      | 282     |            |              | 282            |  |   |              |
|                                                                       |  |                                |  |                                       |  |                    |  |                             |  | 17,458                        |              |      | 17,331  |            |              | 17,327         |  |   | 1.35    | % |
|    The Kleinfelder Group, Inc.                         |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | First lien (4)(9)              |  | 6.37% (L + 4.75%/W)               |  | 12/18/2018 |  | 11/29/2024          |  | 17,325                        |              |      | 17,251  |            |              | 17,325         |  |   | 1.35    | % |
|    TIBCO Software Inc.                                 |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                          |  | Subordinated (3)               |  | 11.38%/S                          |  | 11/24/2014 |  | 12/1/2021           |  | 15,000                        |              |      | 14,844  |            |              | 15,554         |  |   | 1.21    | % |
|    Hill International, Inc.**                          |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | First lien (2)(9)              |  | 7.55% (L + 5.75%/M)               |  | 6/21/2017  |  | 6/21/2023           |  | 15,405                        |              |      | 15,356  |            |              | 15,405         |  |   | 1.20    | % |
|    Bleriot US Bidco Inc.                               |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Federal Services                  |  | Second lien (2)                |  | 10.44% (L + 8.50%/Q)              |  | 10/24/2019 |  | 10/29/2027          |  | 15,000                        |              |      | 14,852  |            |              | 14,981         |  |   | 1.17    | % |
|    Netsmart Inc. / Netsmart Technologies, Inc.     |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Information Technology |  | Second lien (2)                |  | 9.30% (L + 7.50%/M)               |  | 4/18/2016  |  | 10/19/2023          |  | 15,000                        |              |      | 14,774  |            |              | 14,925         |  |   | 1.16    | % |
|    Pathway Vet Alliance LLC                            |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Consumer Services                 |  | First lien (4)(9)(10) - Drawn  |  | 6.30% (L + 4.50%/M)               |  | 11/14/2019 |  | 12/20/2024          |  | 3,670                         |              |      | 3,652   |            |              | 3,652          |  |   |              |
|                                                                       |  | First lien (3)(9)(10) - Drawn  |  | 6.30% (L + 4.50%/M)               |  | 11/14/2019 |  | 12/20/2024          |  | 1,223                         |              |      | 1,217   |            |              | 1,217          |  |   |              |
|                                                                       |  | Second lien (4)(9)(10) - Drawn |  | 10.30% (L + 8.50%/M)              |  | 11/14/2019 |  | 12/19/2025          |  | 7,547                         |              |      | 7,490   |            |              | 7,490          |  |   |              |
|                                                                       |  | Second lien (3)(9)(10) - Drawn |  | 10.30% (L + 8.50%/M)              |  | 11/14/2019 |  | 12/19/2025          |  | 2,516                         |              |      | 2,497   |            |              | 2,497          |  |   |              |
|                                                                       |  |                                |  |                                       |  |                    |  |                             |  | 14,956                        |              |      | 14,856  |            |              | 14,856         |  |   | 1.16    | % |
|    Diligent Corporation                                |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                          |  | First lien (2)(9)              |  | 7.56% (L + 5.50%/S)               |  | 10/30/2019 |  | 4/14/2022           |  | 6,842                         |              |      | 6,777   |            |              | 6,842          |  |   |              |
|                                                                       |  | First lien (2)(9)              |  | 7.56% (L + 5.50%/S)               |  | 10/30/2019 |  | 4/14/2022           |  | 140                           |              |      | 139     |            |              | 140            |  |   |              |
|                                                                       |  | First lien (3)(9)(10) - Drawn  |  | 7.54% (L + 5.50%/S)               |  | 12/19/2018 |  | 4/14/2022           |  | 7,431                         |              |      | 7,391   |            |              | 7,431          |  |   |              |
|                                                                       |  |                                |  |                                       |  |                    |  |                             |  | 14,413                        |              |      | 14,307  |            |              | 14,413         |  |   | 1.12    | % |
|    Alegeus Technologies Holding Corp.                  |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Healthcare Services               |  | First lien (8)(9)              |  | 8.28% (L + 6.25%/Q)               |  | 9/5/2018   |  | 9/5/2024            |  | 13,444                        |              |      | 13,388  |            |              | 13,444         |  |   | 1.05    | % |
|    JAMF Holdings, Inc.                                 |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Software                          |  | First lien (8)(9)              |  | 8.91% (L + 7.00%/Q)               |  | 11/13/2017 |  | 11/11/2022          |  | 8,757                         |              |      | 8,702   |            |              | 8,757          |  |   |              |
|                                                                       |  | First lien (2)(9)              |  | 8.91% (L + 7.00%/Q)               |  | 11/8/2019  |  | 11/11/2022          |  | 4,582                         |              |      | 4,549   |            |              | 4,582          |  |   |              |
|                                                                       |  |                                |  |                                       |  |                    |  |                             |  | 13,339                        |              |      | 13,251  |            |              | 13,339         |  |   | 1.04    | % |
|    BackOffice Associates Holdings, LLC                 |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | First lien (2)(9)              |  | 12.70% (L + 7.50% + 3.00% PIK/S)* |  | 8/25/2017  |  | 8/25/2023           |  | 13,047                        |              |      | 12,973  |            |              | 12,425         |  |   |              |
|                                                                       |  | First lien (3)(9)(10) - Drawn  |  | 12.68% (L + 7.50% + 3.00% PIK/Q)* |  | 8/25/2017  |  | 8/25/2023           |  | 894                           |              |      | 886     |            |              | 851            |  |   |              |
|                                                                       |  |                                |  |                                       |  |                    |  |                             |  | 13,941                        |              |      | 13,859  |            |              | 13,276         |  |   | 1.03    | % |
|    Castle Management Borrower LLC                      |  |                                |  |                                       |  |                    |  |                             |  |                                    |              |      |              |            |              |                     |
|       Business Services                 |  | First lien (2)(9)              |  | 8.16% (L + 6.25%/Q)               |  | 5/31/2018  |  | 2/15/2024           |  | 13,217                        |              |      | 13,166  |            |              | 13,217         |  |   | 1.03    | % |

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Table of Contents

|                                                           |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |  |   |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------|--|-------------------------------|--|--------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|-------------|------|--------------|------------|-------------|---------------------|--|---|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)               |  | Type ofInvestment             |  | Interest Rate (11)       |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |             | Cost |              | Fair Value |             | Percent ofNetAssets |
|                                                           |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|    Ministry Brands, LLC                    |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Software              |  | First lien (2)(9)             |  | 5.85% (L + 4.00%/M)  |  | 12/7/2016  |  | 12/2/2022           |  | $                                  | 2,932  |      |              | $          | 2,924  |                     |  | $ | 2,932  |   |  |  |
|                                                           |  | Second lien (8)(9)            |  | 11.08% (L + 9.25%/M) |  | 12/7/2016  |  | 6/2/2023            |  | 7,840                         |             |      | 7,804   |            |             | 7,840          |  |   |             |
|                                                           |  | Second lien (3)(9)            |  | 11.08% (L + 9.25%/M) |  | 12/7/2016  |  | 6/2/2023            |  | 2,160                         |             |      | 2,150   |            |             | 2,160          |  |   |             |
|                                                           |  | First lien (3)(9)(10) - Drawn |  | 6.95% (L + 5.00%/Q)  |  | 12/7/2016  |  | 12/2/2022           |  | 200                           |             |      | 199     |            |             | 200            |  |   |             |
|                                                           |  |                               |  |                          |  |                    |  |                             |  | 13,132                        |             |      | 13,077  |            |             | 13,132         |  |   | 1.02   | % |
|    Transcendia Holdings, Inc.              |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Packaging             |  | Second lien (8)(9)            |  | 9.80% (L + 8.00%/M)  |  | 6/28/2017  |  | 5/30/2025           |  | 14,500                        |             |      | 14,348  |            |             | 12,476         |  |   | 0.97   | % |
|    OEConnection LLC                        |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | Second lien (2)(9)            |  | 10.04% (L + 8.25%/M) |  | 9/25/2019  |  | 9/25/2027           |  | 12,044                        |             |      | 11,926  |            |             | 11,924         |  |   | 0.93   | % |
|    CFS Management, LLC                     |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Healthcare Services   |  | First lien (2)(9)             |  | 7.95% (L + 5.75%/S)  |  | 8/6/2019   |  | 7/1/2024            |  | 11,733                        |             |      | 11,678  |            |             | 11,674         |  |   | 0.91   | % |
|    CHA Holdings, Inc.                      |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | Second lien (4)               |  | 10.69% (L + 8.75%/Q) |  | 4/3/2018   |  | 4/10/2026           |  | 7,012                         |             |      | 6,952   |            |             | 7,082          |  |   |             |
|                                                           |  | Second lien (3)               |  | 10.69% (L + 8.75%/Q) |  | 4/3/2018   |  | 4/10/2026           |  | 4,453                         |             |      | 4,415   |            |             | 4,497          |  |   |             |
|                                                           |  |                               |  |                          |  |                    |  |                             |  | 11,465                        |             |      | 11,367  |            |             | 11,579         |  |   | 0.90   | % |
|    Alert Holding Company, Inc. (14)        |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|    Appriss Holdings, Inc.                  |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | First lien (8)                |  | 7.44% (L + 5.50%/Q)  |  | 5/24/2019  |  | 5/29/2026           |  | 11,054                        |             |      | 10,965  |            |             | 10,888         |  |   | 0.86   | % |
|    PaySimple, Inc.                         |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Software              |  | First lien (2)                |  | 7.30% (L + 5.50%/M)  |  | 8/19/2019  |  | 8/25/2025           |  | 9,857                         |             |      | 9,763   |            |             | 9,808          |  |   |             |
|                                                           |  | First lien (3)(10) - Drawn    |  | 7.31% (L + 5.50%/M)  |  | 8/19/2019  |  | 8/25/2025           |  | 934                           |             |      | 916     |            |             | 930            |  |   |             |
|                                                           |  |                               |  |                          |  |                    |  |                             |  | 10,791                        |             |      | 10,679  |            |             | 10,738         |  |   | 0.84   | % |
|    Vectra Co.                              |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Products     |  | Second lien (8)               |  | 9.05% (L + 7.25%/M)  |  | 2/23/2018  |  | 3/8/2026            |  | 10,788                        |             |      | 10,754  |            |             | 10,518         |  |   | 0.82   | % |
|    NorthStar Financial Services Group, LLC |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Software              |  | Second lien (5)               |  | 9.30% (L + 7.50%/M)  |  | 5/23/2018  |  | 5/25/2026           |  | 10,607                        |             |      | 10,585  |            |             | 10,501         |  |   | 0.82   | % |
|    PPVA Black Elk (Equity) LLC             |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | Subordinated (3)(9)           |  | —                  |  | 5/3/2013   |  | —                     |  | 14,500                        |             |      | 14,500  |            |             | 10,354         |  |   | 0.81   | % |
|    Masergy Holdings, Inc.                  |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | Second lien (2)               |  | 9.46% (L + 7.50%/Q)  |  | 12/14/2016 |  | 12/16/2024          |  | 10,500                        |             |      | 10,458  |            |             | 10,264         |  |   | 0.80   | % |
|    VT Topco, Inc.                          |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | Second lien (4)               |  | 8.94% (L + 7.00%/Q)  |  | 8/14/2018  |  | 7/31/2026           |  | 10,000                        |             |      | 9,978   |            |             | 10,025         |  |   | 0.78   | % |
|    Quartz Holding Company                  |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Software              |  | Second lien (3)               |  | 9.71% (L + 8.00%/M)  |  | 4/2/2019   |  | 4/2/2027            |  | 10,000                        |             |      | 9,813   |            |             | 9,975          |  |   | 0.78   | % |
|    AG Parent Holdings, LLC                 |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Healthcare Services   |  | First lien (2)                |  | 6.91% (L + 5.00%/Q)  |  | 7/30/2019  |  | 7/31/2026           |  | 10,000                        |             |      | 9,952   |            |             | 9,925          |  |   | 0.77   | % |
|    Stats Intermediate Holdings, LLC**      |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | First lien (2)                |  | 7.30% (L + 5.25%/S)  |  | 5/22/2019  |  | 7/10/2026           |  | 10,000                        |             |      | 9,881   |            |             | 9,775          |  |   | 0.76   | % |
|    Affordable Care Holding Corp.           |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Healthcare Services   |  | First lien (2)                |  | 6.59% (L + 4.75%/M)  |  | 3/18/2019  |  | 10/24/2022          |  | 9,897                         |             |      | 9,738   |            |             | 9,649          |  |   | 0.75   | % |
|    Teneo Holdings, LLC                     |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | First lien (2)                |  | 6.99% (L + 5.25%/M)  |  | 7/15/2019  |  | 7/11/2025           |  | 9,975                         |             |      | 9,788   |            |             | 9,476          |  |   | 0.74   | % |
|    AgKnowledge Holdings Company, Inc.      |  |                               |  |                          |  |                    |  |                             |  |                                    |             |      |              |            |             |                     |
|       Business Services     |  | First lien (4)                |  | 6.55% (L + 4.75%/M)  |  | 11/30/2018 |  | 7/21/2023           |  | 9,355                         |             |      | 9,318   |            |             | 9,332          |  |   | 0.73   | % |

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Table of Contents

|                                                                                                           |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |  |   |             |   |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------------------|--|-------------------------------|--|---------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|-------------|------|-------------|------------|-------------|---------------------|--|---|-------------|---|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                                                               |  | Type ofInvestment             |  | Interest Rate (11)        |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |             | Cost |             | Fair Value |             | Percent ofNetAssets |
|                                                                                                           |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|    Wrike, Inc.                                                                             |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Software                                                              |  | First lien (8)(9)             |  | 8.55% (L + 6.75%/M)   |  | 12/31/2018 |  | 12/31/2024          |  | $                                  | 9,067  |      |             | $          | 8,988  |                     |  | $ | 9,067  |   |  | 0.71  | % |
|    WD Wolverine Holdings, LLC                                                              |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Healthcare Services                                                   |  | First lien (2)                |  | 7.30% (L + 5.50%/M)   |  | 2/22/2017  |  | 8/16/2022           |  | 9,014                         |             |      | 8,859  |            |             | 9,014          |  |   | 0.70   | % |
|    Amerijet Holdings, Inc.                                                                 |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Distribution & Logistics                                          |  | First lien (4)(9)             |  | 9.80% (L + 8.00%/M)   |  | 7/15/2016  |  | 7/15/2021           |  | 7,674                         |             |      | 7,653  |            |             | 7,674          |  |   |             |
|                                                                                                           |  | First lien (4)(9)             |  | 9.80% (L + 8.00%/M)   |  | 7/15/2016  |  | 7/15/2021           |  | 1,279                         |             |      | 1,276  |            |             | 1,279          |  |   |             |
|                                                                                                           |  |                               |  |                           |  |                    |  |                             |  | 8,953                         |             |      | 8,929  |            |             | 8,953          |  |   | 0.70   | % |
|    Zywave, Inc.                                                                            |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Software                                                              |  | Second lien (4)(9)            |  | 10.95% (L + 9.00%/Q)  |  | 11/22/2016 |  | 11/17/2023          |  | 6,980                         |             |      | 6,946  |            |             | 6,980          |  |   |             |
|                                                                                                           |  | Second lien (4)(9)            |  | 10.84% (L + 9.00%/M)  |  | 12/3/2019  |  | 11/17/2023          |  | 600                           |             |      | 596    |            |             | 600            |  |   |             |
|                                                                                                           |  | First lien (3)(9)(10) - Drawn |  | 6.80% (L + 5.00%/M)   |  | 11/22/2016 |  | 11/17/2022          |  | 670                           |             |      | 665    |            |             | 670            |  |   |             |
|                                                                                                           |  |                               |  |                           |  |                    |  |                             |  | 8,250                         |             |      | 8,207  |            |             | 8,250          |  |   | 0.64   | % |
|    DealerSocket, Inc.                                                                      |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Software                                                              |  | First lien (2)                |  | 6.66% (L + 4.75%/Q)   |  | 4/16/2018  |  | 4/26/2023           |  | 6,610                         |             |      | 6,576  |            |             | 6,544          |  |   |             |
|                                                                                                           |  | First lien (3)(10) - Drawn    |  | 7.05% (L + 5.25%/M)   |  | 4/16/2018  |  | 4/26/2023           |  | 168                           |             |      | 167    |            |             | 166            |  |   |             |
|                                                                                                           |  |                               |  |                           |  |                    |  |                             |  | 6,778                         |             |      | 6,743  |            |             | 6,710          |  |   | 0.52   | % |
|    Restaurant Technologies, Inc.                                                           |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Business Services                                                     |  | Second lien (4)               |  | 8.30% (L + 6.50%/M)   |  | 9/24/2018  |  | 10/1/2026           |  | 6,722                         |             |      | 6,707  |            |             | 6,705          |  |   | 0.52   | % |
|    CP VI Bella Midco, LLC                                                                  |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Healthcare Services                                                   |  | Second lien (3)               |  | 8.55% (L + 6.75%/M)   |  | 1/25/2018  |  | 12/29/2025          |  | 6,732                         |             |      | 6,705  |            |             | 6,657          |  |   | 0.52   | % |
|    DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC) |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Business Services                                                     |  | Second lien (3)               |  | 8.55% (L + 6.75%/M)   |  | 1/29/2018  |  | 2/2/2026            |  | 6,732                         |             |      | 6,705  |            |             | 6,530          |  |   | 0.51   | % |
|    Recorded Future, Inc.                                                                   |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Software                                                              |  | First lien (8)(9)             |  | 8.55% (L + 6.75%/M)   |  | 8/26/2019  |  | 7/3/2025            |  | 6,250                         |             |      | 6,220  |            |             | 6,219          |  |   | 0.48   | % |
|    Solera LLC / Solera Finance, Inc.                                                   |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Software                                                              |  | Subordinated (3)              |  | 10.50%/S              |  | 2/29/2016  |  | 3/1/2024            |  | 5,000                         |             |      | 4,844  |            |             | 5,316          |  |   | 0.41   | % |
|    ADG, LLC                                                                                |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Healthcare Services                                                   |  | Second lien (3)(9)            |  | 11.92% (L + 10.00%/S) |  | 10/3/2016  |  | 3/28/2024           |  | 5,264                         |             |      | 5,215  |            |             | 4,213          |  |   | 0.33   | % |
|    Sphera Solutions, Inc.                                                                  |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Software                                                              |  | First lien (2)(9)             |  | 9.00% (L + 7.00%/Q)   |  | 9/10/2019  |  | 6/14/2022           |  | 2,489                         |             |      | 2,466  |            |             | 2,464          |  |   | 0.19   | % |
|    First American Payment Systems, L.P.                                                    |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |
|       Business Services                                                     |  | First lien (2)                |  | 6.81% (L + 4.75%/Q)   |  | 1/3/2017   |  | 1/5/2024            |  | 2,034                         |             |      | 2,021  |            |             | 2,020          |  |   | 0.16   | % |
|                                                                                                           |  |                               |  |                           |  |                    |  |                             |  |                                    |             |      |             |            |             |                     |

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Table of Contents

|                                                                       |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |             |              |                 |            |            |              |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------|--|-----------------------------------|--|------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|-----------------|--------------|---------------|--------------|-----------------|---------------------|-------------|--------------|-----------------|------------|------------|--------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                           |  | Type ofInvestment                 |  | Interest Rate (11)           |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |                 | Cost         |               | Fair Value   |                 | Percent ofNetAssets |
|                                                                       |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|    Education Management Corporation (12)               |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|    Education Management II LLC                         |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|       Education                         |  | First lien (2)                    |  | 10.25% (P + 5.50%/Q)(24) |  | 1/5/2015   |  | 7/2/2020            |  | $                                  | 208        |              |               | $            | 202        |                     |             | $            | 2          |            |            |              |
|                                                                       |  | First lien (3)                    |  | 10.25% (P + 5.50%/Q)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 117                           |                 |              | 114      |              |                 | 1              |             |              |                 |
|                                                                       |  | First lien (2)                    |  | 14.00% (P + 8.50%/M)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 300                           |                 |              | 292      |              |                 | —        |             |              |                 |
|                                                                       |  | First lien (3)                    |  | 14.00% (P + 8.50%/M)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 169                           |                 |              | 165      |              |                 | —        |             |              |                 |
|                                                                       |  | First lien (2)                    |  | 13.25% (P + 8.50%/M)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 142                           |                 |              | 117      |              |                 | —        |             |              |                 |
|                                                                       |  | First lien (2)                    |  | 13.25% (P + 8.50%/M)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 4                             |                 |              | 3        |              |                 | —        |             |              |                 |
|                                                                       |  | First lien (3)                    |  | 13.25% (P + 8.50%/M)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 80                            |                 |              | 66       |              |                 | —        |             |              |                 |
|                                                                       |  | First lien (3)                    |  | 13.25% (P + 8.50%/M)(24) |  | 1/5/2015   |  | 7/2/2020            |  | 2                             |                 |              | 2        |              |                 | —        |             |              |                 |
|                                                                       |  |                                   |  |                              |  |                    |  |                             |  | 1,022                         |                 |              | 961      |              |                 | 3              |             |              | —    | %          |
|    PPVA Fund, L.P.                                     |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|       Business Services                 |  | Collateralized Financing (24)(25) |  | —                      |  | 11/7/2014  |  | —                     |  | —                       |                 |              | —  |              |                 | —        |             |              | —    | %          |
| Total Funded Debt Investments - United States                         |  |                                   |  |                              |  |                    |  |                             |  | $                                  | 2,408,610  |              |               | $            | 2,385,761  |                     |             | $            | 2,375,987  |            |            | 185.12  | % |
| Total Funded Debt Investments                                         |  |                                   |  |                              |  |                    |  |                             |  | $                                  | 2,565,531  |              |               | $            | 2,541,672  |                     |             | $            | 2,530,242  |            |            | 197.14  | % |
| Equity - Hong Kong                                                    |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|    Bach Special Limited (Bach Preference Limited)**    |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|       Education                         |  | Preferred shares (3)(9)(21)       |  | —                      |  | 9/1/2017   |  | —                     |  | 75,184                        |                 |              | $             | 7,439   |                 |                     | $           | 7,518   |                 |            | 0.59  | %            |
| Total Shares - Hong Kong                                              |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 | $            | 7,439    |              |                 | $                   | 7,518  |              |                 | 0.59  | %          |
| Equity - United States                                                |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|    Avatar Topco, Inc.                                  |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|       Education                         |  | Preferred shares (3)(9)(22)       |  | —                      |  | 11/17/2017 |  | —                     |  | 35,750                        |                 |              | $             | 46,093  |                 |                     | $           | 47,165  |                 |            | 3.67  | %            |
|    Symplr Software Intermediate Holdings, Inc.(23)     |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|       Healthcare Information Technology |  | Preferred shares (4)(9)           |  | —                      |  | 11/30/2018 |  | —                     |  | 7,500                         |                 |              | 8,502    |              |                 | 8,571          |             |              |                 |
|                                                                       |  | Preferred shares (3)(9)           |  | —                      |  | 11/30/2018 |  | —                     |  | 2,586                         |                 |              | 2,931    |              |                 | 2,955          |             |              |                 |
|                                                                       |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 | 11,433  |               |              | 11,526     |                     |             | 0.90    | %               |
|    Tenawa Resource Holdings LLC (13)                   |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|    QID NGL LLC                                         |  | Ordinary shares (6)(9)            |  | —                      |  | 5/12/2014  |  | —                     |  | 5,290,997                     |                 |              | 5,291    |              |                 | 8,445          |             |              |                 |
|       Energy                            |  | Preferred shares (6)(9)           |  | —                      |  | 10/30/2017 |  | —                     |  | 1,623,385                     |                 |              | 1,623    |              |                 | 2,727          |             |              |                 |
|                                                                       |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 | 6,914   |               |              | 11,172     |                     |             | 0.87    | %               |
|    Alert Holding Company, Inc. (14)                    |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|    Alert Intermediate Holdings I, Inc.                 |  |                                   |  |                              |  |                    |  |                             |  |                                    |                 |              |               |              |                 |                     |
|       Business Services                 |  | Preferred shares (3)(9)           |  | —                      |  | 5/31/2019  |  | —                     |  | 6,111                         |                 |              | 6,459    |              |                 | 6,452          |             |              | 0.50       | %          |

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Table of Contents

|                                                        |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |                 |               |               |              |            |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------|--|---------------------------------|--|--------------------|--|--------------------|--|-----------------------------|--|------------------------------------|-----------|-----------|-----------------|------------|---------------|---------------------|-----------------|---------------|---------------|--------------|------------|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)            |  | Type ofInvestment               |  | Interest Rate (11) |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |           | Cost      |                 | Fair Value |               | Percent ofNetAssets |
|                                                        |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|    Education Management Corporation(12) |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Education          |  | Preferred shares (2)            |  | —            |  | 1/5/2015   |  | —                     |  | 3,331                         |           |           | $               | 200   |               |                     | $               | —  |               |              |            |
|                                                        |  | Preferred shares (3)            |  | —            |  | 1/5/2015   |  | —                     |  | 1,879                         |           |           | 113        |            |               | —        |                 |               |               |
|                                                        |  | Ordinary shares (2)             |  | —            |  | 1/5/2015   |  | —                     |  | 2,994,065                     |           |           | 100        |            |               | —        |                 |               |               |
|                                                        |  | Ordinary shares (3)             |  | —            |  | 1/5/2015   |  | —                     |  | 1,688,976                     |           |           | 56         |            |               | —        |                 |               |               |
|                                                        |  |                                 |  |                    |  |                    |  |                             |  |                                    |           | 469  |                 |            | —  |                     |                 | —  | %             |
| Total Shares - United States                           |  |                                 |  |                    |  |                    |  |                             |  |                                    |           | $         | 71,368     |            |               | $                   | 76,315     |               |               | 5.94    | %          |
| Total Shares                                           |  |                                 |  |                    |  |                    |  |                             |  |                                    |           | $         | 78,807     |            |               | $                   | 83,833     |               |               | 6.53    | %          |
| Warrants - United States                               |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|    ASP LCG Holdings, Inc.               |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Education          |  | Warrants (3)(9)                 |  | —            |  | 5/5/2014   |  | 5/5/2026            |  | 622                           |           |           | $               | 37    |               |                     | $               | 898      |               |              | 0.07  | %             |
| Total Warrants - United States                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |           | $         | 37         |            |               | $                   | 898        |               |               | 0.07    | %          |
| Total Funded Investments                               |  |                                 |  |                    |  |                    |  |                             |  |                                    |           | $         | 2,620,516  |            |               | $                   | 2,614,973  |               |               | 203.74  | %          |
| Unfunded Debt Investments - Canada                     |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|    Wolfpack IP Co.**                    |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Software           |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 6/14/2019  |  | 6/13/2025           |  | $                                  | 909  |           |                 | $          | (9)           |                     |                 | $             | (9)           |              |            | (0.00)        | % |
| Total Unfunded Debt Investments - Canada               |  |                                 |  |                    |  |                    |  |                             |  | $                                  | 909  |           |                 | $          | (9)           |                     |                 | $             | (9)           |              |            | (0.00)        | % |
| Unfunded Debt Investments - United States              |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|    NM GRC Holdco, LLC                   |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Business Services  |  | First lien (2)(9)(10) - Undrawn |  | —            |  | 2/9/2018   |  | 2/9/2020            |  | $                                  | 771  |           |                 | $          | (2)           |                     |                 | $             | —  |              |            | —  | % |
|    Ministry Brands, LLC                 |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Software           |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 12/7/2016  |  | 12/2/2022           |  | 800                           |           |           | (4)             |            |               | —        |                 |               | —  | %            |
|    Wrike, Inc.                          |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Software           |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 12/31/2018 |  | 12/31/2024          |  | 933                           |           |           | (9)             |            |               | —        |                 |               | —  | %            |
|    Xactly Corporation                   |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Software           |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 7/31/2017  |  | 7/29/2022           |  | 992                           |           |           | (10)            |            |               | —        |                 |               | —  | %            |
|    Zywave, Inc.                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Software           |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 11/22/2016 |  | 11/17/2022          |  | 1,330                         |           |           | (10)            |            |               | —        |                 |               | —  | %            |
|    JAMF Holdings, Inc.                  |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Software           |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 11/13/2017 |  | 11/11/2022          |  | 1,086                         |           |           | (10)            |            |               | —        |                 |               | —  | %            |
|    Trader Interactive, LLC              |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |           |                 |            |               |                     |
|       Business Services  |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 6/15/2017  |  | 6/15/2023           |  | 1,673                         |           |           | (13)            |            |               | —        |                 |               | —  | %            |

----

Table of Contents

|                                                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |  |   |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------|--|---------------------------------|--|--------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|------|------|------------|---------------|---------------------|--|---|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)             |  | Type ofInvestment               |  | Interest Rate (11) |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost |      | Fair Value |               | Percent ofNetAssets |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|    DCA Investment Holding, LLC           |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Healthcare Services |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 4/16/2019  |  | 4/16/2021           |  | $                                  | 20,426  |      |      | $          | —  |                     |  | $ | —  |   |  |  |
|                                                         |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 7/2/2015   |  | 7/2/2021            |  | 1,492                         |              |      | (15) |            |               | —        |  |   |               |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 21,918                        |              |      | (15) |            |               | —        |  |   | —  | % |
|    Affinity Dental Management, Inc.      |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Healthcare Services |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 9/15/2017  |  | 3/15/2023           |  | 1,738                         |              |      | (17) |            |               | —        |  |   | —  | % |
|    Integral Ad Science, Inc.             |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 7/19/2018  |  | 7/19/2023           |  | 1,807                         |              |      | (18) |            |               | —        |  |   | —  | % |
|    Finalsite Holdings, Inc.              |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 9/25/2018  |  | 9/25/2024           |  | 2,521                         |              |      | (19) |            |               | —        |  |   | —  | % |
|    TDG Group Holding Company             |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Consumer Services   |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 5/22/2018  |  | 5/31/2024           |  | 5,044                         |              |      | (25) |            |               | —        |  |   | —  | % |
|    iCIMS, Inc.                           |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 9/12/2018  |  | 9/12/2024           |  | 2,915                         |              |      | (29) |            |               | —        |  |   | —  | % |
|    Associations, Inc.                    |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Business Services   |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 7/30/2018  |  | 7/30/2021           |  | 3,161                         |              |      | (20) |            |               | —        |  |   |               |
|                                                         |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 7/30/2018  |  | 7/30/2024           |  | 2,033                         |              |      | (13) |            |               | —        |  |   |               |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 5,194                         |              |      | (33) |            |               | —        |  |   | —  | % |
|    Integro Parent Inc.                   |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Business Services   |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 6/8/2018   |  | 4/30/2022           |  | 6,743                         |              |      | (34) |            |               | —        |  |   | —  | % |
|    Diligent Corporation                  |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 12/19/2018 |  | 12/19/2020          |  | 5,977                         |              |      | (37) |            |               | —        |  |   | —  | % |
|    PhyNet Dermatology LLC                |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Healthcare Services |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 9/17/2018  |  | 8/16/2020           |  | 17,077                        |              |      | (85) |            |               | —        |  |   | —  | % |
|    AgKnowledge Holdings Company, Inc.    |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Business Services   |  | First lien (3)(10) - Undrawn    |  | —            |  | 11/30/2018 |  | 7/21/2023           |  | 526                           |              |      | (3)  |            |               | (1)                 |  |   | (0.00)        | % |
|    DealerSocket, Inc.                    |  |                                 |  |                    |  |                    |  |                             |  |                                    |              |      |      |            |               |                     |
|       Software            |  | First lien (3)(10) - Undrawn    |  | —            |  | 4/16/2018  |  | 4/26/2023           |  | 392                           |              |      | (3)  |            |               | (4)                 |  |   | (0.00)        | % |

----

Table of Contents

|                                                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |  |   |        |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------|--|---------------------------------|--|--------------------|--|--------------------|--|-----------------------------|--|------------------------------------|-----------|------|---------------|------------|-----|---------------------|--|---|--------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)             |  | Type ofInvestment               |  | Interest Rate (11) |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |           | Cost |               | Fair Value |     | Percent ofNetAssets |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|    Recorded Future, Inc.                 |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 8/26/2019  |  | 1/3/2021            |  | $                                  | 500  |      |               | $          | (3) |                     |  | $ | (3)    |   |  |  |
|                                                         |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 8/26/2019  |  | 7/3/2025            |  | 750                           |           |      | (4)           |            |     | (4)                 |  |   |        |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 1,250                         |           |      | (7)           |            |     | (7)                 |  |   | (0.00) | % |
|    PaySimple, Inc.                       |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Software            |  | First lien (3)(10) - Undrawn    |  | —            |  | 8/19/2019  |  | 8/24/2020           |  | 2,289                         |           |      | —  |            |     | (11)                |  |   | (0.00) | % |
|    Alert Holding Company, Inc. (14)      |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|    Appriss Holdings, Inc.                |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Business Services   |  | First lien (3)(10) - Undrawn    |  | —            |  | 5/24/2019  |  | 5/30/2025           |  | 930                           |           |      | (9)           |            |     | (14)                |  |   | (0.00) | % |
|    Bullhorn, Inc.                        |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 9/24/2019  |  | 10/1/2021           |  | 1,135                         |           |      | (9)           |            |     | (9)                 |  |   |        |
|                                                         |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 9/24/2019  |  | 10/1/2025           |  | 852                           |           |      | (6)           |            |     | (6)                 |  |   |        |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 1,987                         |           |      | (15)          |            |     | (15)                |  |   | (0.00) | % |
|    Bluefin Holding, LLC                  |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Software            |  | First lien (3)(10) - Undrawn    |  | —            |  | 9/6/2019   |  | 9/6/2024            |  | 1,515                         |           |      | (23)          |            |     | (15)                |  |   | (0.00) | % |
|    CFS Management, LLC                   |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Healthcare Services |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 8/6/2019   |  | 7/1/2024            |  | 3,468                         |           |      | (17)          |            |     | (17)                |  |   | (0.00) | % |
|    Conservice, LLC                       |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Business Services   |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 1/3/2019   |  | 11/29/2024          |  | 1,360                         |           |      | (7)           |            |     | (7)                 |  |   |        |
|                                                         |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 1/3/2019   |  | 6/30/2020           |  | 2,283                         |           |      | —  |            |     | (11)                |  |   |        |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 3,643                         |           |      | (7)           |            |     | (18)                |  |   | (0.00) | % |
|    ConnectWise, LLC                      |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 11/26/2019 |  | 2/28/2025           |  | 4,248                         |           |      | (27)          |            |     | (27)                |  |   | (0.00) | % |
|    CoolSys, Inc.                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Industrial Services |  | First lien (3)(10) - Undrawn    |  | —            |  | 11/20/2019 |  | 11/19/2021          |  | 5,600                         |           |      | —  |            |     | (28)                |  |   | (0.00) | % |
|    YLG Holdings, Inc.                    |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Business Services   |  | First lien (5)(10) - Undrawn    |  | —            |  | 11/1/2019  |  | 4/30/2021           |  | 2,381                         |           |      | —  |            |     | (12)                |  |   |        |
|                                                         |  | First lien (3)(10) - Undrawn    |  | —            |  | 11/1/2019  |  | 10/31/2025          |  | 3,968                         |           |      | (20)          |            |     | (20)                |  |   |        |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 6,349                         |           |      | (20)          |            |     | (32)                |  |   | (0.00) | % |
|    Kaseya Traverse Inc.                  |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |
|       Software            |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 5/9/2019   |  | 5/3/2021            |  | 2,873                         |           |      | —  |            |     | (29)                |  |   |        |
|                                                         |  | First lien (3)(9)(10) - Undrawn |  | —            |  | 5/9/2019   |  | 5/2/2025            |  | 991                           |           |      | (10)          |            |     | (10)                |  |   |        |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  | 3,864                         |           |      | (10)          |            |     | (39)                |  |   | (0.00) | % |
|                                                         |  |                                 |  |                    |  |                    |  |                             |  |                                    |           |      |               |            |     |                     |

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Table of Contents

|                                                                       |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |                 |   |         |              |   |        |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|-----------------------------|--|------------------------------------|---------------|------|-----------------|------------|---------|---------------------|-----------------|---|---------|--------------|---|--------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                           |  | Type ofInvestment                |  | Interest Rate (11) |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |               | Cost |                 | Fair Value |         | Percent ofNetAssets |
|                                                                       |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|    Apptio, Inc.                                        |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Software                          |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 1/10/2019  |  | 1/10/2025           |  | $                                  | 2,066    |      |                 | $          | (41)    |                     |                 | $ | (41)    |              |   | (0.00) | % |
|    Definitive Healthcare Holdings, LLC                 |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Healthcare Information Technology |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 8/7/2019   |  | 7/16/2021           |  | 7,391                         |               |      | —    |            |         | (37)                |                 |   |         |
|                                                                       |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 8/7/2019   |  | 7/16/2024           |  | 1,848                         |               |      | (9)             |            |         | (9)                 |                 |   |         |
|                                                                       |  |                                  |  |                    |  |                    |  |                             |  | 9,239                         |               |      | (9)             |            |         | (46)                |                 |   | (0.01)  | %            |
|    Pathway Vet Alliance LLC                            |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Consumer Services                 |  | First lien (4)(9)(10) - Undrawn  |  | —            |  | 11/14/2019 |  | 10/11/2021          |  | 3,821                         |               |      | —    |            |         | (19)                |                 |   |         |
|                                                                       |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 11/14/2019 |  | 10/11/2021          |  | 1,274                         |               |      | —    |            |         | (6)                 |                 |   |         |
|                                                                       |  | Second lien (4)(9)(10) - Undrawn |  | —            |  | 11/14/2019 |  | 10/11/2021          |  | 7,453                         |               |      | —    |            |         | (56)                |                 |   |         |
|                                                                       |  | Second lien (3)(9)(10) - Undrawn |  | —            |  | 11/14/2019 |  | 10/11/2021          |  | 2,484                         |               |      | —    |            |         | (19)                |                 |   |         |
|                                                                       |  |                                  |  |                    |  |                    |  |                             |  | 15,032                        |               |      | —    |            |         | (100)               |                 |   | (0.01)  | %            |
|    GC Waves Holdings, Inc.**                           |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Business Services                 |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 10/31/2019 |  | 11/1/2021           |  | 9,877                         |               |      | —    |            |         | (74)                |                 |   |         |
|                                                                       |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 10/31/2019 |  | 10/31/2025          |  | 3,951                         |               |      | (30)            |            |         | (30)                |                 |   |         |
|                                                                       |  |                                  |  |                    |  |                    |  |                             |  | 13,828                        |               |      | (30)            |            |         | (104)               |                 |   | (0.01)  | %            |
|    Ansira Holdings, Inc.                               |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Business Services                 |  | First lien (3)(10) - Undrawn     |  | —            |  | 12/19/2016 |  | 4/16/2020           |  | 2,437                         |               |      | (6)             |            |         | (122)               |                 |   | (0.01)  | %            |
|    GS Acquisitionco, Inc.                              |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Software                          |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 8/7/2019   |  | 8/2/2021            |  | 35,103                        |               |      | —    |            |         | (219)               |                 |   |         |
|                                                                       |  | First lien (3)(9)(10) - Undrawn  |  | —            |  | 8/7/2019   |  | 5/25/2024           |  | 1,975                         |               |      | (12)            |            |         | (12)                |                 |   |         |
|                                                                       |  |                                  |  |                    |  |                    |  |                             |  | 37,078                        |               |      | (12)            |            |         | (231)               |                 |   | (0.02)  | %            |
|    Salient CRGT Inc.                                   |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |
|       Federal Services                  |  | First lien (3)(10) - Undrawn     |  | —            |  | 6/26/2018  |  | 11/29/2021          |  | 6,125                         |               |      | (490)           |            |         | (291)               |                 |   | (0.03)  | %            |
| Total Unfunded Debt Investments - United States                       |  |                                  |  |                    |  |                    |  |                             |  | $                                  | 200,385  |      |                 | $          | (1,099) |                     |                 | $ | (1,163) |              |   | (0.09) | % |
| Total Unfunded Debt Investments                                       |  |                                  |  |                    |  |                    |  |                             |  | $                                  | 201,294  |      |                 | $          | (1,108) |                     |                 | $ | (1,172) |              |   | (0.09) | % |
| Total Non-Controlled/Non-Affiliated Investments                   |  |                                  |  |                    |  |                    |  |                             |  |                                    |               | $    | 2,619,408  |            |         | $                   | 2,613,801  |   |         | 203.65  | % |
|                                                                       |  |                                  |  |                    |  |                    |  |                             |  |                                    |               |      |                 |            |         |                     |

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Table of Contents

|                                                        |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |              |              |               |            |            |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------|--|---------------------------------|--|---------------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--------------|--------------|--------------|--------------|---------------|---------------------|--------------|--------------|---------------|------------|------------|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)            |  | Type ofInvestment               |  | Interest Rate (11)                    |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |              | Cost         |              | Fair Value   |               | Percent ofNetAssets |
|                                                        |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
| Non-Controlled/Affiliated Investments(26)          |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
| Funded Debt Investments - United States                |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|    Permian Holdco 1, Inc.               |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|    Permian Holdco 2, Inc.               |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|    Permian Holdco 3, Inc.               |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|       Energy             |  | First lien (3)(9)               |  | 14.28% (L + 7.50% + 5.00% PIK/Q)* |  | 6/14/2018  |  | 6/30/2022           |  | $                                  | 10,523  |              |              | $            | 10,523   |                     |              | $            | 10,523   |            |            |               |
|                                                        |  | First lien (3)(9)(10) - Drawn   |  | 8.24% (L + 6.50%/M)               |  | 6/14/2018  |  | 6/30/2022           |  | 17,750                        |              |              | 17,750  |              |               | 17,750         |              |              |               |
|                                                        |  | Subordinated (3)(9)             |  | 18.00% PIK/Q*                     |  | 12/26/2018 |  | 6/30/2022           |  | 2,876                         |              |              | 2,876   |              |               | 2,732          |              |              |               |
|                                                        |  | Subordinated (3)(9)             |  | 14.00% PIK/Q*                     |  | 10/31/2016 |  | 10/15/2021          |  | 2,642                         |              |              | 2,642   |              |               | 2,246          |              |              |               |
|                                                        |  | Subordinated (3)(9)             |  | 14.00% PIK/Q*                     |  | 10/31/2016 |  | 10/15/2021          |  | 1,361                         |              |              | 1,361   |              |               | 1,157          |              |              |               |
|                                                        |  |                                 |  |                                       |  |                    |  |                             |  | 35,152                        |              |              | 35,152  |              |               | 34,408         |              |              | 2.68     | %          |
|    Sierra Hamilton Holdings Corporation |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|       Energy             |  | Second lien (3)(9)              |  | 15.00% PIK/Q*                     |  | 9/12/2019  |  | 9/12/2023           |  | 1,442                         |              |              | 1,410   |              |               | 1,406          |              |              | 0.11     | %          |
| Total Funded Debt Investments - United States          |  |                                 |  |                                       |  |                    |  |                             |  | $                                  | 36,594  |              |              | $            | 36,562   |                     |              | $            | 35,814   |            |            | 2.79     | % |
| Equity - United States                                 |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|    NMFC Senior Loan Program I LLC**     |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|       Investment Fund    |  | Membership interest (3)(9)      |  | —                               |  | 6/13/2014  |  | —                     |  | —                       |              |              | $            | 23,000  |               |                     | $            | 23,000  |               |            | 1.80  | %             |
|    Sierra Hamilton Holdings Corporation |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|       Energy             |  | Ordinary shares (2)(9)          |  | —                               |  | 7/31/2017  |  | —                     |  | 25,000,000                    |              |              | 11,501  |              |               | 7,648          |              |              |               |
|                                                        |  | Ordinary shares (3)(9)          |  | —                               |  | 7/31/2017  |  | —                     |  | 2,786,000                     |              |              | 1,281   |              |               | 852            |              |              |               |
|                                                        |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              | 12,782  |              |              | 8,500    |                     |              | 0.66    | %             |
|    Permian Holdco 1, Inc.               |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|       Energy             |  | Preferred shares (3)(9)(16)(24) |  | —                               |  | 10/31/2016 |  | —                     |  | 1,987,848                     |              |              | 9,131   |              |               | 6,013          |              |              |               |
|                                                        |  | Ordinary shares (3)(9)          |  | —                               |  | 10/31/2016 |  | —                     |  | 1,366,452                     |              |              | 1,350   |              |               | 200            |              |              |               |
|                                                        |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              | 10,481  |              |              | 6,213    |                     |              | 0.48    | %             |
| Total Shares - United States                           |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              | $            | 46,263  |              |               | $                   | 37,713  |              |               | 2.94  | %          |
| Total Funded Investments                               |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              | $            | 82,825  |              |               | $                   | 73,527  |              |               | 5.73  | %          |
| Unfunded Debt Investments - United States              |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|    Permian Holdco 3, Inc.               |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |
|       Energy             |  | First lien (3)(9)(10) - Undrawn |  | —                               |  | 6/14/2018  |  | 6/30/2022           |  | $                                  | 2,250   |              |              | $            | —  |                     |              | $            | —  |            |            | —  | % |
| Total Unfunded Debt Investments - United States        |  |                                 |  |                                       |  |                    |  |                             |  | $                                  | 2,250   |              |              | $            | —  |                     |              | $            | —  |            |            | —  | % |
| Total Non-Controlled/Affiliated Investments        |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              | $            | 82,825  |              |               | $                   | 73,527  |              |               | 5.73  | %          |
|                                                        |  |                                 |  |                                       |  |                    |  |                             |  |                                    |              |              |              |              |               |                     |

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Table of Contents

|                                                                                 |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |              |               |              |            |            |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------|--|--------------------------------|--|---------------------------------------|--|--------------------|--|-----------------------------|--|------------------------------------|---------------|------|--------------|---------------|--------------|---------------------|--------------|---------------|--------------|------------|------------|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                                     |  | Type ofInvestment              |  | Interest Rate (11)                    |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |               | Cost |              | Fair Value    |              | Percent ofNetAssets |
|                                                                                 |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
| Controlled Investments(27)                                                      |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
| Funded Debt Investments - United States                                         |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|    Edmentum Ultimate Holdings, LLC (15)                          |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|    Edmentum, Inc. (fka Plato, Inc.) (Archipelago Learning, Inc.) |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|       Education                                   |  | First lien (2)                 |  | 10.43% (L + 4.50% + 4.00% PIK/Q)* |  | 8/6/2018   |  | 6/9/2021            |  | $                                  | 10,112   |      |              | $             | 9,173   |                     |              | $             | 10,112  |            |            |            |
|                                                                                 |  | Second lien (3)(9)             |  | 7.00% PIK/Q*                      |  | 2/23/2018  |  | 12/9/2021           |  | 11,999                        |               |      | 11,579  |               |              | 11,999         |              |               |              |
|                                                                                 |  | Second lien (3)(9)(10) - Drawn |  | 5.00% PIK/Q*                      |  | 6/9/2015   |  | 12/9/2021           |  | 7,586                         |               |      | 7,586   |               |              | 7,586          |              |               |              |
|                                                                                 |  | Subordinated (3)(9)            |  | 8.50% PIK/Q*                      |  | 6/9/2015   |  | 12/9/2021           |  | 5,326                         |               |      | 5,324   |               |              | 5,326          |              |               |              |
|                                                                                 |  | Subordinated (2)(9)            |  | 10.00% PIK/Q*                     |  | 6/9/2015   |  | 12/9/2021           |  | 20,476                        |               |      | 20,476  |               |              | 19,333         |              |               |              |
|                                                                                 |  | Subordinated (3)(9)            |  | 10.00% PIK/Q*                     |  | 6/9/2015   |  | 12/9/2021           |  | 5,037                         |               |      | 5,037   |               |              | 4,756          |              |               |              |
|                                                                                 |  |                                |  |                                       |  |                    |  |                             |  | 60,536                        |               |      | 59,175  |               |              | 59,112         |              |               | 4.61    | %          |
|    NHME Holdings Corp. (20)                                      |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|    National HME, Inc.                                            |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|       Healthcare Services                         |  | Second lien (3)(9)             |  | 12.00% PIK/Q*                     |  | 11/27/2018 |  | 5/27/2024           |  | 16,532                        |               |      | 13,054  |               |              | 11,985         |              |               |              |
|                                                                                 |  | Second lien (3)(9)             |  | 12.00% PIK/Q*                     |  | 11/27/2018 |  | 5/27/2024           |  | 9,136                         |               |      | 8,279   |               |              | 7,994          |              |               |              |
|                                                                                 |  |                                |  |                                       |  |                    |  |                             |  | 25,668                        |               |      | 21,333  |               |              | 19,979         |              |               | 1.56    | %          |
|    UniTek Global Services, Inc.                                  |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|       Business Services                           |  | First lien (2)(9)              |  | 8.41% (L + 5.50% + 1.00% PIK/Q)*  |  | 6/29/2018  |  | 8/20/2024           |  | 12,448                        |               |      | 12,448  |               |              | 11,068         |              |               |              |
|                                                                                 |  | First lien (2)(9)              |  | 8.41% (L + 5.50% + 1.00% PIK/Q)*  |  | 6/29/2018  |  | 8/20/2024           |  | 2,490                         |               |      | 2,490   |               |              | 2,214          |              |               |              |
|                                                                                 |  |                                |  |                                       |  |                    |  |                             |  | 14,938                        |               |      | 14,938  |               |              | 13,282         |              |               | 1.03    | %          |
| Total Funded Debt Investments - United States                                   |  |                                |  |                                       |  |                    |  |                             |  | $                                  | 101,142  |      |              | $             | 95,446  |                     |              | $             | 92,373  |            |            | 7.20  | % |
| Equity - Canada                                                                 |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|   NM APP Canada Corp.**                                               |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|       Net Lease                                   |  | Membership interest (7)(9)     |  | —                               |  | 9/13/2016  |  | —                     |  | —                       |               |      | $            | 7,345    |              |                     | $            | 10,774   |              |            | 0.84  | %          |
| Total Shares - Canada                                                           |  |                                |  |                                       |  |                    |  |                             |  |                                    |               | $    | 7,345   |               |              | $                   | 10,774  |               |              | 0.84  | %          |
| Equity - United States                                                          |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|    NMFC Senior Loan Program III LLC**                            |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|       Investment Fund                             |  | Membership interest (3)(9)     |  | —                               |  | 5/4/2018   |  | —                     |  | —                       |               |      | $            | 100,000  |              |                     | $            | 100,000  |              |            | 7.80  | %          |
|    NMFC Senior Loan Program II LLC**                             |  |                                |  |                                       |  |                    |  |                             |  |                                    |               |      |              |               |              |                     |
|       Investment Fund                             |  | Membership interest (3)(9)     |  | —                               |  | 5/3/2016   |  | —                     |  | —                       |               |      | 79,400  |               |              | 79,400         |              |               | 6.20    | %          |

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Table of Contents

|                                                         |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |               |            |            |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------|--|-----------------------------|--|--------------------|--|--------------------|--|-----------------------------|--|------------------------------------|--|--------------|---------------|------------|--------------|---------------------|---------------|------------|------------|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)             |  | Type ofInvestment           |  | Interest Rate (11) |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |  | Cost         |               | Fair Value |              | Percent ofNetAssets |
|                                                         |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|    UniTek Global Services, Inc.          |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Business Services   |  | Preferred shares (3)(9)(19) |  | —            |  | 8/29/2019  |  | —                     |  | 3,492,227                     |  |              | 3,492    |            |              | 3,347          |               |            |            |
|                                                         |  | Preferred shares (3)(9)(19) |  | —            |  | 8/17/2018  |  | —                     |  | 8,594,292                     |  |              | 8,594    |            |              | 7,979          |               |            |            |
|                                                         |  | Preferred shares (3)(9)(18) |  | —            |  | 6/30/2017  |  | —                     |  | 15,747,272                    |  |              | 15,747   |            |              | 13,909         |               |            |            |
|                                                         |  | Preferred shares (2)(9)(17) |  | —            |  | 1/13/2015  |  | —                     |  | 28,369,088                    |  |              | 25,989   |            |              | 22,766         |               |            |            |
|                                                         |  | Preferred shares (3)(9)(17) |  | —            |  | 1/13/2015  |  | —                     |  | 7,839,866                     |  |              | 7,182    |            |              | 6,292          |               |            |            |
|                                                         |  | Ordinary shares (2)(9)      |  | —            |  | 1/13/2015  |  | —                     |  | 2,096,477                     |  |              | 1,925    |            |              | 270            |               |            |            |
|                                                         |  | Ordinary shares (3)(9)      |  | —            |  | 1/13/2015  |  | —                     |  | 1,993,749                     |  |              | 532      |            |              | 256            |               |            |            |
|                                                         |  |                             |  |                    |  |                    |  |                             |  |                                    |  | 63,461  |               |            | 54,819  |                     |               | 4.27  | %          |
|    NM NL Holdings, L.P.**                |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 6/20/2018  |  | —                     |  | —                       |  |              | 44,070   |            |              | 48,308         |               |            | 3.76  | %           |
|    NM GLCR LP                            |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 2/1/2018   |  | —                     |  | —                       |  |              | 14,750   |            |              | 23,800         |               |            | 1.85  | %           |
|    NM CLFX LP                            |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 10/6/2017  |  | —                     |  | —                       |  |              | 12,538   |            |              | 12,723         |               |            | 0.99  | %           |
|    NM APP US LLC                         |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 9/13/2016  |  | —                     |  | —                       |  |              | 5,080    |            |              | 6,834          |               |            | 0.53  | %           |
|    NM YI, LLC                            |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 9/30/2019  |  | —                     |  | —                       |  |              | 6,272    |            |              | 6,339          |               |            | 0.49  | %           |
|    NM DRVT LLC                           |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 11/18/2016 |  | —                     |  | —                       |  |              | 5,152    |            |              | 6,016          |               |            | 0.46  | %           |
|    NHME Holdings Corp.(20)               |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Healthcare Services |  | Ordinary shares (3)(9)      |  | —            |  | 11/27/2018 |  | —                     |  | 640,000                       |  |              | 4,000    |            |              | 4,000          |               |            | 0.31  | %           |
|    NM JRA LLC                            |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 8/12/2016  |  | —                     |  | —                       |  |              | 2,043    |            |              | 3,700          |               |            | 0.29  | %           |
|    Edmentum Ultimate Holdings, LLC (15)  |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Education           |  | Ordinary shares (3)(9)      |  | —            |  | 6/9/2015   |  | —                     |  | 123,968                       |  |              | 11       |            |              | 1,806          |               |            |            |
|                                                         |  | Ordinary shares (2)(9)      |  | —            |  | 6/9/2015   |  | —                     |  | 107,143                       |  |              | 9        |            |              | 1,561          |               |            |            |
|                                                         |  |                             |  |                    |  |                    |  |                             |  |                                    |  | 20      |               |            | 3,367   |                     |               | 0.26  | %          |
|    NM KRLN LLC                           |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 11/15/2016 |  | —                     |  | —                       |  |              | 7,510    |            |              | 2,379          |               |            | 0.19  | %           |
|    NM GP Holdco, LLC**                   |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |
|       Net Lease           |  | Membership interest (7)(9)  |  | —            |  | 6/20/2018  |  | —                     |  | —                       |  |              | 452      |            |              | 487            |               |            | 0.04  | %           |
| Total Shares - United States                            |  |                             |  |                    |  |                    |  |                             |  |                                    |  | $            | 344,748  |            |              | $                   | 352,172  |            |            | 27.44  | % |
| Total Shares                                            |  |                             |  |                    |  |                    |  |                             |  |                                    |  | $            | 352,093  |            |              | $                   | 362,946  |            |            | 28.28  | % |
|                                                         |  |                             |  |                    |  |                    |  |                             |  |                                    |  |              |               |            |              |                     |

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Table of Contents

|                                                                                 |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |                 |              |               |              |            |               |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------|--|----------------------------------|--|--------------------|--|--------------------|--|-----------------------------|--|------------------------------------|-----------|------|-----------------|------------|---------------|---------------------|-----------------|--------------|---------------|--------------|------------|---------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company, Location and Industry(1)                                     |  | Type ofInvestment                |  | Interest Rate (11) |  | Acquisition Date   |  | Maturity/ExpirationDate |  | PrincipalAmount,Par Valueor Shares |           | Cost |                 | Fair Value |               | Percent ofNetAssets |
|                                                                                 |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
| Warrants - United States                                                        |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
|    Edmentum Ultimate Holdings, LLC(15)                           |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
|       Education                                   |  | Warrants (3)(9)                  |  | —            |  | 2/23/2018  |  | 5/5/2026            |  | 1,141,846                     |           |      | $               | 769   |               |                     | $               | 16,633  |               |              | 1.29  | %             |
|    NHME Holdings Corp.(20)                                       |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
|       Healthcare Services                         |  | Warrants (3)(9)                  |  | —            |  | 11/27/2018 |  | —                     |  | 160,000                       |           |      | 1,000      |            |               | 1,000          |                 |              | 0.08     | %            |
| Total Warrants - United States                                                  |  |                                  |  |                    |  |                    |  |                             |  |                                    |           | $    | 1,769      |            |               | $                   | 17,633     |              |               | 1.37    | %          |
| Total Funded Investments                                                        |  |                                  |  |                    |  |                    |  |                             |  |                                    |           | $    | 449,308    |            |               | $                   | 472,952    |              |               | 36.85   | %          |
| Unfunded Debt Investments - United States                                       |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
|    Edmentum Ultimate Holdings, LLC (15)                          |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
|    Edmentum, Inc. (fka Plato, Inc.) (Archipelago Learning, Inc.) |  |                                  |  |                    |  |                    |  |                             |  |                                    |           |      |                 |            |               |                     |
|       Education                                   |  | Second lien (3)(9)(10) - Undrawn |  | —            |  | 6/9/2015   |  | 12/9/2021           |  | $                                  | 298  |      |                 | $          | —  |                     |                 | $            | —  |              |            | —  | % |
| Total Unfunded Debt Investments - United States                                 |  |                                  |  |                    |  |                    |  |                             |  | $                                  | 298  |      |                 | $          | —  |                     |                 | $            | —  |              |            | —  | % |
| Total Controlled Investments                                                    |  |                                  |  |                    |  |                    |  |                             |  |                                    |           | $    | 449,308    |            |               | $                   | 472,952    |              |               | 36.85   | %          |
| Total Investments                                                               |  |                                  |  |                    |  |                    |  |                             |  |                                    |           | $    | 3,151,541  |            |               | $                   | 3,160,280  |              |               | 246.23  | %          |

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|                                                                                  |  |                                 |              |                    |             |                     |               |                          |  |                                                             |               |                                 |  |                |               |                |              |             |               |             |  |   |               |  |  |          |               |  |  |   |             |  |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------|--|---------------------------------|--------------|--------------------|-------------|---------------------|---------------|--------------------------|--|-------------------------------------------------------------|---------------|---------------------------------|--|----------------|---------------|----------------|--------------|-------------|---------------|-------------|--|---|---------------|--|--|----------|---------------|--|--|---|-------------|--|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                                           |  | Fair Value at December 31, 2018 |              | GrossAdditions (A) |             | GrossRedemptions(B) |               | NetRealizedGains(Losses) |  | Net Change InUnrealizedAppreciation(Depreciation) |               | Fair Value at December 31, 2019 |  | InterestIncome |               | DividendIncome |              | OtherIncome |
| NMFC Senior Loan Program I LLC                                                   |  | $                               | 23,000  |                    |             | $                   | —  |                          |  | $                                                           | —  |                                 |  | $              | —  |                |              | $           | —  |             |  | $ | 23,000   |  |  | $        | —  |  |  | $ | 3,073  |  |  | $ | 1,142  |  |
| Permian Holdco 1, Inc. / Permian Holdco 2, Inc. / Permian Holdco 3, Inc. |  | 41,966                     |              |                    | 3,077  |                     |               | (100)                    |  |                                                             | —  |                                 |  | (4,322)        |               |                | 40,621  |             |               | 4,101  |  |   | 1,219    |  |  | 49  |               |
| Sierra Hamilton Holdings Corporation                                             |  | 12,527                     |              |                    | 1,410  |                     |               | —             |  |                                                             | —  |                                 |  | (4,031)        |               |                | 9,906   |             |               | 65     |  |   | —  |  |  | 45  |               |
| Total Non-Controlled/Affiliated Investments                                  |  | $                               | 77,493  |                    |             | $                   | 4,487    |                          |  | $                                                           | (100)         |                                 |  | $              | —  |                |              | $           | (8,353)       |             |  | $ | 73,527   |  |  | $        | 4,166    |  |  | $ | 4,292  |  |  | $ | 1,236  |  |

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|                                                   |  |                                 |               |                   |               |                     |              |                                |  |                                                             |               |                                 |  |                |          |                |               |             |              |               |  |   |               |  |  |               |              |  |  |   |               |  |  |   |           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------|--|---------------------------------|---------------|-------------------|---------------|---------------------|--------------|--------------------------------|--|-------------------------------------------------------------|---------------|---------------------------------|--|----------------|----------|----------------|---------------|-------------|--------------|---------------|--|---|---------------|--|--|---------------|--------------|--|--|---|---------------|--|--|---|-----------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                            |  | Fair Value at December 31, 2018 |               | GrossAdditions(A) |               | GrossRedemptions(B) |              | Net RealizedGains(Losses) |  | Net Change InUnrealizedAppreciation(Depreciation) |               | Fair Value at December 31, 2019 |  | InterestIncome |          | DividendIncome |               | OtherIncome |
| Edmentum Ultimate Holdings, LLC/Edmentum Inc. |  | $                               | 45,011   |                   |               | $                   | 14,850  |                                |  | $                                                           | (3,129)       |                                 |  | $              | 18  |                |               | $           | 22,380  |               |  | $ | 79,112   |  |  | $             | 5,781   |  |  | $ | —  |  |  | $ | 17   |  |
| National HME, Inc./NHME Holdings Corp.        |  | 22,722                     |               |                   | 3,501    |                     |              | —                   |  |                                                             | —  |                                 |  | (1,244)        |          |                | 24,979   |             |              | 3,501    |  |   | —  |  |  | —  |              |
| NM APP Canada, Corp.                              |  | 9,727                      |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | 1,047     |          |                | 10,774   |             |              | —  |  |   | 920      |  |  | —  |              |
| NM APP US LLC                                     |  | 5,912                      |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | 922       |          |                | 6,834    |             |              | —  |  |   | 527      |  |  | —  |              |
| NM CLFX LP                                        |  | 12,770                     |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | (47)           |          |                | 12,723   |             |              | —  |  |   | 1,550    |  |  | —  |              |
| NM DRVT LLC                                       |  | 5,619                      |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | 397       |          |                | 6,016    |             |              | —  |  |   | 565      |  |  | —  |              |
| NM JRA LLC                                        |  | 2,537                      |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | 1,163     |          |                | 3,700    |             |              | —  |  |   | 252      |  |  | —  |              |
| NM GLCR LP                                        |  | 20,343                     |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | 3,457     |          |                | 23,800   |             |              | —  |  |   | 1,761    |  |  | —  |              |
| NM KRLN LLC                                       |  | 4,205                      |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | (1,826)        |          |                | 2,379    |             |              | —  |  |   | 832      |  |  | —  |              |
| NM NL Holdings, L.P.                              |  | 33,392                     |               |                   | 11,492   |                     |              | —                   |  |                                                             | —  |                                 |  | 3,424     |          |                | 48,308   |             |              | —  |  |   | 3,692    |  |  | —  |              |
| NM GP Holdco, LLC                                 |  | 311                        |               |                   | 145      |                     |              | —                   |  |                                                             | —  |                                 |  | 31        |          |                | 487      |             |              | —  |  |   | 36       |  |  | —  |              |
| NM YI, LLC                                        |  | —                    |               |                   | 6,272    |                     |              | —                   |  |                                                             | —  |                                 |  | 67        |          |                | 6,339    |             |              | —  |  |   | 240      |  |  | —  |              |
| NMFC Senior Loan Program II LLC                   |  | 79,400                     |               |                   | —  |                     |              | —                   |  |                                                             | —  |                                 |  | —   |          |                | 79,400   |             |              | —  |  |   | 11,116   |  |  | —  |              |
| NMFC Senior Loan Program III LLC                  |  | 78,400                     |               |                   | 21,600   |                     |              | —                   |  |                                                             | —  |                                 |  | —   |          |                | 100,000  |             |              | —  |  |   | 10,520   |  |  | —  |              |
| UniTek Global Services, Inc.                      |  | 82,788                     |               |                   | 12,225   |                     |              | (151)                          |  |                                                             | —  |                                 |  | (26,761)       |          |                | 68,101   |             |              | 1,246    |  |   | 8,918    |  |  | 600      |              |
| Total Controlled Investments                      |  | $                               | 403,137  |                   |               | $                   | 70,085  |                                |  | $                                                           | (3,280)       |                                 |  | $              | 18  |                |               | $           | 3,010   |               |  | $ | 472,952  |  |  | $             | 10,528  |  |  | $ | 40,929   |  |  | $ | 617  |  |

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|                      |  |                                                                    |   |  |  |  |  |  |
|----------------------|--|--------------------------------------------------------------------|---|--|--|--|--|--|
|                 |  | December 31, 2019                                                  |
| Investment Type |  | Percent of TotalInvestments at Fair Value |
| First lien           |  | 57.01                                                         | % |
| Second lien          |  | 24.96                                                         | % |
| Subordinated         |  | 2.11                                                          | % |
| Equity and other     |  | 15.92                                                         | % |
| Total investments    |  | 100.00                                                        | % |

|                                                           |  |                                                                    |   |  |  |  |  |  |
|-----------------------------------------------------------|--|--------------------------------------------------------------------|---|--|--|--|--|--|
|                                                      |  | December 31, 2019                                                  |
| Industry Type                                        |  | Percent of TotalInvestments at Fair Value |
| Software                                                  |  | 24.22                                                         | % |
| Business Services                                         |  | 20.58                                                         | % |
| Healthcare Services                                       |  | 17.45                                                         | % |
| Education                                                 |  | 9.04                                                          | % |
| Investment Funds (includes investments in joint ventures) |  | 6.40                                                          | % |
| Net Lease                                                 |  | 3.84                                                          | % |
| Distribution & Logistics                              |  | 3.38                                                          | % |
| Federal Services                                          |  | 3.22                                                          | % |
| Energy                                                    |  | 3.19                                                          | % |
| Healthcare Information Technology                         |  | 3.17                                                          | % |
| Consumer Services                                         |  | 2.86                                                          | % |
| Industrial Services                                       |  | 1.03                                                          | % |
| Food & Beverage                                       |  | 0.89                                                          | % |
| Packaging                                                 |  | 0.40                                                          | % |
| Business Products                                         |  | 0.33                                                          | % |
| Total investments                                         |  | 100.00                                                        | % |

|                              |  |                                                                    |   |  |  |  |  |  |
|------------------------------|--|--------------------------------------------------------------------|---|--|--|--|--|--|
|                         |  | December 31, 2019                                                  |
| Interest Rate Type |  | Percent of TotalInvestments at Fair Value |
| Floating rates               |  | 94.44                                                         | % |
| Fixed rates                  |  | 5.56                                                          | % |
| Total investments            |  | 100.00                                                        | % |

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|                                          |  |                                    |  |                    |  |             |  |             |  |                    |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|------------------------------------|--|--------------------|--|-------------|--|-------------|--|--------------------|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                          |  |                                    |  | Lease              |  |             |  | Total       |  | Fair Value as of   |
| Portfolio Company                        |  | Tenant                             |  | Expiration Date    |  | Location    |  | Square Feet |  | September 30, 2020 |
| NM NL Holdings LP / NM GP Holdco LLC |  | Various                            |  | Various            |  | Various     |  | Various     |  | 50,085        |               |
| NM GLCR LP                               |  | Arctic Glacier U.S.A.              |  | 2/28/2038  |  | CA          |  | 214         |  | 26,464        |               |
| NM CLFX LP                               |  | Victor Equipment Company           |  | 8/31/2033  |  | TX          |  | 423         |  | 12,677        |               |
| NM APP Canada, Corp.                     |  | A.P. Plasman, Inc.                 |  | 9/30/2031  |  | Canada      |  | 436         |  | 11,100        |               |
| NM DRVT LLC                              |  | FMH Conveyors, LLC                 |  | 10/31/2031 |  | AR          |  | 195         |  | 6,980         |               |
| NM APP US LLC                            |  | Plasman Corp, LLC / A-Brite LP |  | 9/30/2033  |  | AL / OH |  | 261         |  | 6,886         |               |
| NM YI, LLC                               |  | Young Innovations, Inc.            |  | 10/31/2039 |  | IL / MO |  | 212         |  | 6,175         |               |
| NM JRA LLC                               |  | J.R. Automation Technologies, LLC  |  | 1/31/2031  |  | MI          |  | 88          |  | 3,784         |               |
| NM KRLN LLC                              |  | None                               |  | N/A            |  | MD          |  | 95          |  | 940           |               |
|                                          |  |                                    |  |                    |  |             |  |             |  | $                  | 125,091  |  |

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|                   |               |                 |                 |               |   |                 |  |  |  |  |  |
|-------------------|---------------|-----------------|-----------------|---------------|---|-----------------|--|--|--|--|--|
|              | Cost          |                 | Fair Value |
| First lien        | $             | 1,708,860  |                 |               | $ | 1,662,653  |  |
| Second lien       | 706,014  |                 |                 | 689,319  |   |
| Subordinated      | 52,831   |                 |                 | 43,536   |   |
| Equity and other  | 510,582  |                 |                 | 501,115  |   |
| Total investments | $             | 2,978,287  |                 |               | $ | 2,896,623  |  |

|                                                          |               |                 |                 |               |   |                 |  |  |  |  |  |
|----------------------------------------------------------|---------------|-----------------|-----------------|---------------|---|-----------------|--|--|--|--|--|
|                                                     | Cost          |                 | Fair Value |
| Software                                                 | $             | 776,502    |                 |               | $ | 777,207    |  |
| Business Services                                        | 665,117  |                 |                 | 601,907  |   |
| Healthcare Services                                      | 478,119  |                 |                 | 452,284  |   |
| Education                                                | 232,694  |                 |                 | 254,679  |   |
| Investment Fund (includes investments in joint ventures) | 222,400  |                 |                 | 222,400  |   |
| Net Lease                                                | 105,929  |                 |                 | 125,091  |   |
| Federal Services                                         | 101,294  |                 |                 | 100,983  |   |
| Healthcare Information Technology                        | 77,819   |                 |                 | 78,398   |   |
| Consumer Services                                        | 76,408   |                 |                 | 76,458   |   |
| Specialty Chemicals & Materials                      | 59,614   |                 |                 | 60,013   |   |
| Distribution & Logistics                             | 63,815   |                 |                 | 54,598   |   |
| Industrial Services                                      | 36,668   |                 |                 | 36,933   |   |
| Energy                                                   | 56,785   |                 |                 | 32,769   |   |
| Packaging                                                | 14,365   |                 |                 | 12,231   |   |
| Business Products                                        | 10,758   |                 |                 | 10,672   |   |
| Total investments                                        | $             | 2,978,287  |                 |               | $ | 2,896,623  |  |

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|                   |               |                 |                 |               |   |                 |  |  |  |  |  |
|-------------------|---------------|-----------------|-----------------|---------------|---|-----------------|--|--|--|--|--|
|              | Cost          |                 | Fair Value |
| First lien        | $             | 1,803,747  |                 |               | $ | 1,801,615  |  |
| Second lien       | 796,921  |                 |                 | 788,868  |   |
| Subordinated      | 71,904   |                 |                 | 66,774   |   |
| Equity and other  | 478,969  |                 |                 | 503,023  |   |
| Total investments | $             | 3,151,541  |                 |               | $ | 3,160,280  |  |

|                                                           |               |                 |                 |               |   |                 |  |  |  |  |  |
|-----------------------------------------------------------|---------------|-----------------|-----------------|---------------|---|-----------------|--|--|--|--|--|
|                                                      | Cost          |                 | Fair Value |
| Software                                                  | $             | 764,875    |                 |               | $ | 765,499    |  |
| Business Services                                         | 667,493  |                 |                 | 650,384  |   |
| Healthcare Services                                       | 552,499  |                 |                 | 551,471  |   |
| Education                                                 | 267,064  |                 |                 | 285,781  |   |
| Investment Funds (includes investments in joint ventures) | 202,400  |                 |                 | 202,400  |   |
| Net Lease                                                 | 105,212  |                 |                 | 121,360  |   |
| Distribution & Logistics                              | 106,403  |                 |                 | 106,878  |   |
| Federal Services                                          | 103,179  |                 |                 | 101,675  |   |
| Energy                                                    | 105,689  |                 |                 | 100,699  |   |
| Healthcare Information Technology                         | 99,581   |                 |                 | 100,050  |   |
| Consumer Services                                         | 91,474   |                 |                 | 90,424   |   |
| Industrial Services                                       | 32,736   |                 |                 | 32,708   |   |
| Food & Beverage                                       | 27,834   |                 |                 | 27,957   |   |
| Packaging                                                 | 14,348   |                 |                 | 12,476   |   |
| Business Products                                         | 10,754   |                 |                 | 10,518   |   |
| Total investments                                         | $             | 3,151,541  |                 |               | $ | 3,160,280  |  |

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|                                                              |  |                    |               |                   |            |   |               |  |  |  |  |  |  |  |
|--------------------------------------------------------------|--|--------------------|---------------|-------------------|------------|---|---------------|--|--|--|--|--|--|--|
|                                                              |  | September 30, 2020 |               | December 31, 2019 |
| First lien investments (1)                                   |  | $                  | 300,199  |                   |            | $ | 351,160  |  |
| Weighted average interest rate on first lien investments (2) |  | 5.11          | %             |                   | 6.29  | % |
| Number of portfolio companies in SLP II                      |  | 34            |               |                   | 37    |   |
| Largest portfolio company investment (1)                     |  | $                  | 17,322   |                   |            | $ | 17,456   |  |
| Total of five largest portfolio company investments (1)      |  | $                  | 78,225   |                   |            | $ | 78,932   |  |

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|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |               |              |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------|--|-----------------------------------|--|--------------------------------------|--|--------------------|--|-------------------------------------|---------------|------------|--------------|----------------|---------------|--------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment   |  | Industry                          |  | Interest Rate (1)                    |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost |              | Fair Value (2) |
| Funded Investments - First lien:       |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
| Access CIG, LLC                            |  | Business Services                 |  |  3.91% (L + 3.75%)              |  | 2/27/2025  |  | $                                   | 4,625    |            |              | $              | 4,609    |              |  | $ | 4,532    |  |
| ADG, LLC                                   |  | Healthcare Services               |  |  6.25 % (L + 2.50% + 2.75% PIK) |  | 9/28/2023  |  | 16,412                         |               |            | 16,335  |                |               | 14,876  |  |
| Advisor Group Holdings, Inc.               |  | Consumer Services                 |  |  5.15% (L + 5.00%)              |  | 7/31/2026  |  | 4,962                          |               |            | 4,920   |                |               | 4,815   |  |
| Bearcat Buyer, Inc.                        |  | Healthcare Services               |  |  5.25% (L + 4.25%)              |  | 7/9/2026   |  | 90                             |               |            | 89      |                |               | 90      |  |
| Bearcat Buyer, Inc.                        |  | Healthcare Services               |  |  5.25% (L + 4.25%)              |  | 7/9/2026   |  | 1,368                          |               |            | 1,363   |                |               | 1,368   |  |
| Bleriot US Bidco Inc.                      |  | Federal Services                  |  |  4.97% (L + 4.75%)              |  | 10/31/2026 |  | 1,345                          |               |            | 1,332   |                |               | 1,335   |  |
| Bleriot US Bidco Inc.                      |  | Federal Services                  |  |  4.97% (L + 4.75%)              |  | 10/30/2026 |  | 8,605                          |               |            | 8,528   |                |               | 8,546   |  |
| Brave Parent Holdings, Inc.                |  | Software                          |  |  4.15% (L + 4.00%)              |  | 4/18/2025  |  | 3,662                          |               |            | 3,652   |                |               | 3,622   |  |
| CentralSquare Technologies, LLC            |  | Software                          |  |  3.90% (L + 3.75%)              |  | 8/29/2025  |  | 14,737                         |               |            | 14,710  |                |               | 13,286  |  |
| CHA Holdings, Inc.                         |  | Business Services                 |  |  5.50% (L + 4.50%)              |  | 4/10/2025  |  | 2,031                          |               |            | 2,023   |                |               | 1,899   |  |
| CHA Holdings, Inc.                         |  | Business Services                 |  |  5.50% (L + 4.50%)              |  | 4/10/2025  |  | 10,615                         |               |            | 10,582  |                |               | 9,925   |  |
| CommerceHub, Inc.                          |  | Software                          |  |  3.65% (L + 3.50%)              |  | 5/21/2025  |  | 2,444                          |               |            | 2,435   |                |               | 2,389   |  |
| Dealer Tire, LLC                           |  | Distribution & Logistics      |  |  4.40% (L + 4.25%)              |  | 12/12/2025 |  | 7,444                          |               |            | 7,427   |                |               | 7,295   |  |
| Drilling Info Holdings, Inc.               |  | Business Services                 |  |  4.40% (L + 4.25%)              |  | 7/30/2025  |  | 14,646                         |               |            | 14,598  |                |               | 14,139  |  |
| Edgewood Partners Holdings LLC             |  | Business Services                 |  |  5.25% (L + 4.25%)              |  | 9/6/2024   |  | 7,375                          |               |            | 7,320   |                |               | 7,117   |  |
| eResearchTechnology, Inc.                  |  | Healthcare Services               |  |  5.50% (L + 4.50%)              |  | 2/4/2027   |  | 3,137                          |               |            | 3,108   |                |               | 3,129   |  |
| Fastlane Parent Company, Inc.              |  | Distribution & Logistics      |  |  4.65% (L + 4.50%)              |  | 2/4/2026   |  | 3,447                          |               |            | 3,392   |                |               | 3,328   |  |
| Greenway Health, LLC                       |  | Software                          |  |  4.75% (L + 3.75%)              |  | 2/16/2024  |  | 14,512                         |               |            | 14,474  |                |               | 12,989  |  |
| Help/Systems Holdings, Inc.            |  | Software                          |  |  5.75% (L + 4.75%)              |  | 11/19/2026 |  | 4,422                          |               |            | 4,382   |                |               | 4,362   |  |
| Institutional Shareholder Services Inc.    |  | Business Services                 |  |  4.72% (L + 4.50%)              |  | 3/5/2026   |  | 13,790                         |               |            | 13,678  |                |               | 13,376  |  |
| Keystone Acquisition Corp.                 |  | Healthcare Services               |  |  6.25% (L + 5.25%)              |  | 5/1/2024   |  | 5,238                          |               |            | 5,208   |                |               | 4,767   |  |
| LSCS Holdings, Inc.                        |  | Healthcare Services               |  |  4.47% (L + 4.25%)              |  | 3/17/2025  |  | 1,870                          |               |            | 1,868   |                |               | 1,776   |  |
| LSCS Holdings, Inc.                        |  | Healthcare Services               |  |  4.47% (L + 4.25%)              |  | 3/17/2025  |  | 7,243                          |               |            | 7,236   |                |               | 6,881   |  |
| Market Track, LLC                          |  | Business Services                 |  |  5.25% (L + 4.25%)              |  | 6/5/2024   |  | 11,610                         |               |            | 11,577  |                |               | 11,432  |  |
| Medical Solutions Holdings, Inc.           |  | Healthcare Services               |  |  5.50% (L + 4.50%)              |  | 6/14/2024  |  | 2,774                          |               |            | 2,766   |                |               | 2,684   |  |
| Ministry Brands, LLC                       |  | Software                          |  |  5.00% (L + 4.00%)              |  | 12/2/2022  |  | 2,078                          |               |            | 2,074   |                |               | 2,059   |  |
| Ministry Brands, LLC                       |  | Software                          |  |  5.00% (L + 4.00%)              |  | 12/2/2022  |  | 873                            |               |            | 871     |                |               | 865     |  |
| Ministry Brands, LLC                       |  | Software                          |  |  5.00% (L + 4.00%)              |  | 12/2/2022  |  | 12,066                         |               |            | 12,039  |                |               | 11,955  |  |
| Peraton Corp. (fka MHVC Acquisition Corp.) |  | Federal Services                  |  |  6.25% (L + 5.25%)              |  | 4/29/2024  |  | 10,159                         |               |            | 10,130  |                |               | 10,083  |  |
| Premise Health Holding Corp.               |  | Healthcare Services               |  |  3.72% (L + 3.50%)              |  | 7/10/2025  |  | 1,362                          |               |            | 1,357   |                |               | 1,318   |  |
| Project Accelerate Parent, LLC             |  | Business Services                 |  |  5.25% (L + 4.25%)              |  | 1/2/2025   |  | 12,450                         |               |            | 12,409  |                |               | 11,329  |  |
| PSC Industrial Holdings Corp.              |  | Industrial Services               |  |  4.98% (L + 3.75%)              |  | 10/11/2024 |  | 3,036                          |               |            | 3,017   |                |               | 2,892   |  |
| Quest Software US Holdings Inc.            |  | Software                          |  |  4.51% (L + 4.25%)              |  | 5/16/2025  |  | 14,737                         |               |            | 14,685  |                |               | 14,467  |  |
| Salient CRGT Inc.                          |  | Federal Services                  |  |  7.50% (L + 6.50%)              |  | 2/28/2022  |  | 12,665                         |               |            | 12,625  |                |               | 12,484  |  |
| Wirepath LLC                               |  | Distribution & Logistics      |  |  4.22% (L + 4.00%)              |  | 8/5/2024   |  | 14,700                         |               |            | 14,700  |                |               | 13,524  |  |
| WP CityMD Bidco LLC                        |  | Healthcare Services               |  |  5.54% (L + 4.50%)              |  | 8/13/2026  |  | 5,432                          |               |            | 5,384   |                |               | 5,413   |  |
| Wrench Group LLC                           |  | Consumer Services                 |  |  4.22% (L + 4.00%)              |  | 4/30/2026  |  | 5,935                          |               |            | 5,883   |                |               | 5,816   |  |
| YI, LLC                                    |  | Healthcare Services               |  |  5.00% (L + 4.00%)              |  | 11/7/2024  |  | 14,687                         |               |            | 14,679  |                |               | 12,851  |  |
| Zelis Cost Management Buyer, Inc.          |  | Healthcare Information Technology |  |  4.90% (L + 4.75%)              |  | 9/30/2026  |  | 4,099                          |               |            | 4,062   |                |               | 4,077   |  |
| Zywave, Inc.                               |  | Software                          |  |  6.00% (L + 5.00%)              |  | 11/17/2022 |  | 16,844                         |               |            | 16,810  |                |               | 16,844  |  |
| Zywave, Inc.                               |  | Software                          |  |  6.00% (L + 5.00%)              |  | 11/17/2022 |  | 478                            |               |            | 474     |                |               | 478     |  |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
| Total Funded Investments                   |  |                                   |  |                                      |  |                    |  | $                                   | 300,005  |            |              | $              | 298,811  |              |  | $ | 286,413  |  |
| Unfunded Investments - First lien:     |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
| Bearcat Buyer, Inc.                        |  | Healthcare Services               |  | —                              |  | 7/9/2021   |  | $                                   | 194      |            |              | $              | (1)           |              |  | $ | —  |  |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |            |              |                |
| Total Unfunded Investments                 |  |                                   |  |                                      |  |                    |  | $                                   | 194      |            |              | $              | (1)           |              |  | $ | —  |  |
| Total Investments                          |  |                                   |  |                                      |  |                    |  | $                                   | 300,199  |            |              | $              | 298,810  |              |  | $ | 286,413  |  |

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Table of Contents

|                                                             |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |               |               |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|------------------------------|--|-------------------------------------|--|--------------------|--|-------------------------------------|---------------|------------|---------------|----------------|---------------|---------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                    |  | Industry                     |  | Interest Rate (1)                   |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost |               | Fair Value (2) |
| Funded Investments - First lien                             |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |
| Access CIG, LLC                                             |  | Business Services            |  |  5.44% (L + 3.75%)             |  | 2/27/2025  |  | $                                   | 9,833    |            |               | $              | 9,794    |               |  | $ | 9,841    |  |
| ADG, LLC                                                    |  | Healthcare Services          |  |  7.17% (L + 4.75% + 0.50% PIK) |  | 9/28/2023  |  | 16,074                         |               |            | 15,980   |                |               | 15,813   |  |
| Advisor Group Holdings, Inc.                                |  | Consumer Services            |  |  6.80% (L + 5.00%)             |  | 7/31/2026  |  | 5,000                          |               |            | 4,952    |                |               | 4,972    |  |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  |  6.19% (L + 4.25%)             |  | 7/9/2026   |  | 1,379                          |               |            | 1,372    |                |               | 1,372    |  |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  |  6.19% (L + 4.25%)             |  | 7/9/2026   |  | 90                             |               |            | 90       |                |               | 90       |  |
| Bleriot US Bidco Inc.                                       |  | Federal Services             |  |  6.69% (L + 4.75%)             |  | 10/30/2026 |  | 8,649                          |               |            | 8,563    |                |               | 8,746    |  |
| Brave Parent Holdings, Inc.                                 |  | Software                     |  |  5.93% (L + 4.00%)             |  | 4/18/2025  |  | 15,267                         |               |            | 15,222   |                |               | 15,045   |  |
| CentralSquare Technologies, LLC                             |  | Software                     |  |  5.55% (L + 3.75%)             |  | 8/29/2025  |  | 14,850                         |               |            | 14,819   |                |               | 14,231   |  |
| CHA Holdings, Inc.                                          |  | Business Services            |  |  6.44% (L + 4.50%)             |  | 4/10/2025  |  | 10,697                         |               |            | 10,658   |                |               | 10,683   |  |
| CHA Holdings, Inc.                                          |  | Business Services            |  |  6.44% (L + 4.50%)             |  | 4/10/2025  |  | 2,047                          |               |            | 2,037    |                |               | 2,044    |  |
| CommerceHub, Inc.                                           |  | Software                     |  |  5.30% (L + 3.50%)             |  | 5/21/2025  |  | 2,463                          |               |            | 2,453    |                |               | 2,432    |  |
| Drilling Info Holdings, Inc.                                |  | Business Services            |  |  6.05% (L + 4.25%)             |  | 7/30/2025  |  | 14,758                         |               |            | 14,703   |                |               | 14,696   |  |
| Edgewood Partners Holdings LLC                              |  | Business Services            |  |  6.05% (L + 4.25%)             |  | 9/6/2024   |  | 7,432                          |               |            | 7,367    |                |               | 7,413    |  |
| Explorer Holdings, Inc.                                     |  | Healthcare Services          |  |  6.26% (L + 4.50%)             |  | 11/20/2026 |  | 3,145                          |               |            | 3,113    |                |               | 3,171    |  |
| Fastlane Parent Company, Inc.                               |  | Distribution & Logistics |  |  6.44% (L + 4.50%)             |  | 2/4/2026   |  | 3,474                          |               |            | 3,411    |                |               | 3,448    |  |
| Greenway Health, LLC                                        |  | Software                     |  |  5.69% (L + 3.75%)             |  | 2/16/2024  |  | 14,625                         |               |            | 14,578   |                |               | 13,053   |  |
| Help/Systems Holdings, Inc.                             |  | Software                     |  |  6.55% (L + 4.75%)             |  | 11/19/2026 |  | 4,444                          |               |            | 4,400    |                |               | 4,428    |  |
| Idera, Inc.                                                 |  | Software                     |  |  6.30% (L + 4.50%)             |  | 6/28/2024  |  | 4,446                          |               |            | 4,417    |                |               | 4,449    |  |
| Institutional Shareholder Services Inc.                     |  | Business Services            |  |  6.44% (L + 4.50%)             |  | 3/5/2026   |  | 13,895                         |               |            | 13,769   |                |               | 13,687   |  |
| Keystone Acquisition Corp.                                  |  | Healthcare Services          |  |  7.19% (L + 5.25%)             |  | 5/1/2024   |  | 5,278                          |               |            | 5,243    |                |               | 5,173    |  |
| LSCS Holdings, Inc.                                         |  | Healthcare Services          |  |  6.31% (L + 4.25%)             |  | 3/17/2025  |  | 7,298                          |               |            | 7,290    |                |               | 7,225    |  |
| LSCS Holdings, Inc.                                         |  | Healthcare Services          |  |  6.31% (L + 4.25%)             |  | 3/17/2025  |  | 1,884                          |               |            | 1,882    |                |               | 1,865    |  |
| Market Track, LLC                                           |  | Business Services            |  |  6.18% (L + 4.25%)             |  | 6/5/2024   |  | 11,700                         |               |            | 11,660   |                |               | 10,530   |  |
| MediaOcean, LLC                                             |  | Software                     |  |  5.80% (L + 4.00%)             |  | 8/18/2025  |  | 7,392                          |               |            | 7,372    |                |               | 7,410    |  |
| Medical Solutions Holdings, Inc.                            |  | Healthcare Services          |  |  6.30% (L + 4.50%)             |  | 6/14/2024  |  | 2,795                          |               |            | 2,786    |                |               | 2,791    |  |
| Ministry Brands, LLC                                        |  | Software                     |  |  5.85% (L + 4.00%)             |  | 12/2/2022  |  | 12,160                         |               |            | 12,124   |                |               | 12,160   |  |
| Ministry Brands, LLC                                        |  | Software                     |  |  5.85% (L + 4.00%)             |  | 12/2/2022  |  | 2,095                          |               |            | 2,089    |                |               | 2,095    |  |
| Ministry Brands, LLC                                        |  | Software                     |  |  5.85% (L + 4.00%)             |  | 12/2/2022  |  | 880                            |               |            | 877      |                |               | 880      |  |
| NorthStar Financial Services Group, LLC                     |  | Software                     |  |  5.30% (L + 3.50%)             |  | 5/25/2025  |  | 5,885                          |               |            | 5,861    |                |               | 5,789    |  |
| Peraton Corp. (fka MHVC Acquisition Corp.)                  |  | Federal Services             |  |  7.05% (L + 5.25%)             |  | 4/29/2024  |  | 10,237                         |               |            | 10,203   |                |               | 10,193   |  |
| Premise Health Holding Corp.                                |  | Healthcare Services          |  |  5.44% (L + 3.50%)             |  | 7/10/2025  |  | 1,372                          |               |            | 1,367    |                |               | 1,358    |  |
| Project Accelerate Parent, LLC                              |  | Business Services            |  |  5.99% (L + 4.25%)             |  | 1/2/2025   |  | 13,545                         |               |            | 13,494   |                |               | 13,511   |  |
| PSC Industrial Holdings Corp.                               |  | Industrial Services          |  |  5.49% (L + 3.75%)             |  | 10/11/2024 |  | 7,305                          |               |            | 7,252    |                |               | 7,269    |  |
| Quest Software US Holdings Inc.                             |  | Software                     |  |  6.18% (L + 4.25%)             |  | 5/16/2025  |  | 14,850                         |               |            | 14,790   |                |               | 14,739   |  |
| Salient CRGT Inc.                                           |  | Federal Services             |  |  8.29% (L + 6.50%)             |  | 2/28/2022  |  | 13,134                         |               |            | 13,071   |                |               | 12,510   |  |
| Spring Education Group, Inc. (fka SSH Group Holdings, Inc.) |  | Education                    |  |  6.19% (L + 4.25%)             |  | 7/30/2025  |  | 716                            |               |            | 715      |                |               | 721      |  |
| Wirepath LLC                                                |  | Distribution & Logistics |  |  5.94% (L + 4.00%)             |  | 8/5/2024   |  | 14,813                         |               |            | 14,813   |                |               | 12,886   |  |
| WP CityMD Bidco LLC                                         |  | Healthcare Services          |  |  6.44% (L + 4.50%)             |  | 8/13/2026  |  | 15,000                         |               |            | 14,855   |                |               | 15,038   |  |
| Wrench Group LLC                                            |  | Consumer Services            |  |  6.19% (L + 4.25%)             |  | 4/30/2026  |  | 4,478                          |               |            | 4,435    |                |               | 4,488    |  |
| YI, LLC                                                     |  | Healthcare Services          |  |  5.94% (L + 4.00%)             |  | 11/7/2024  |  | 14,801                         |               |            | 14,791   |                |               | 13,839   |  |
| Zelis Cost Management Buyer, Inc.                           |  | Healthcare I.T.              |  |  6.55% (L + 4.75%)             |  | 9/30/2026  |  | 10,363                         |               |            | 10,261   |                |               | 10,427   |  |
| Zywave, Inc.                                                |  | Software                     |  |  6.93% (L + 5.00%)             |  | 11/17/2022 |  | 16,975                         |               |            | 16,930   |                |               | 16,975   |  |
| Zywave, Inc.                                                |  | Software                     |  |  6.84% (L + 5.00%)             |  | 11/17/2022 |  | 481                            |               |            | 477      |                |               | 481      |  |
| Total Funded Investments                                    |  |                              |  |                                     |  |                    |  | $                                   | 348,005  |            |               | $              | 346,336  |               |  | $ | 339,967  |  |
| Unfunded Investments - First lien                           |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  | —                             |  | 7/9/2021   |  | $                                   | 194      |            |               | $              | (1)           |               |  | $ | (1)           |  |
| Bleriot US Bidco Inc.                                       |  | Federal Services             |  | —                             |  | 10/31/2020 |  | 1,351                          |               |            | (14)          |                |               | 15       |  |
| Premise Health Holding Corp.                                |  | Healthcare Services          |  | —                             |  | 7/10/2020  |  | 110                            |               |            | —  |                |               | —  |  |
| Wrench Group LLC                                            |  | Consumer Services            |  | —                             |  | 4/30/2021  |  | 1,500                          |               |            | —  |                |               | 4        |  |
| Total Unfunded Investments                                  |  |                              |  |                                     |  |                    |  | $                                   | 3,155    |            |               | $              | (15)          |               |  | $ | 18       |  |
| Total Investments                                           |  |                              |  |                                     |  |                    |  | $                                   | 351,160  |            |               | $              | 346,321  |               |  | $ | 339,985  |  |

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Table of Contents

|                                                                         |                    |               |                   |               |   |               |  |  |  |  |  |
|-------------------------------------------------------------------------|--------------------|---------------|-------------------|---------------|---|---------------|--|--|--|--|--|
| Selected Balance Sheet Information:                                 | September 30, 2020 |               | December 31, 2019 |
| Investments at fair value (cost of $298,810 and $346,321, respectively) | $                  | 286,413  |                   |               | $ | 339,985  |  |
| Cash and other assets                                                   | 8,838         |               |                   | 8,159    |   |
| Total assets                                                            | $                  | 295,251  |                   |               | $ | 348,144  |  |
|                                                                         |                    |               |                   |
| Credit facility                                                         | $                  | 204,470  |                   |               | $ | 246,870  |  |
| Deferred financing costs                                                | (758)              |               |                   | (1,408)       |   |
| Distribution payable                                                    | 2,550         |               |                   | 3,250    |   |
| Payable for unsettled securities purchased                              | —       |               |                   | 3,113    |   |
| Other liabilities                                                       | 1,201         |               |                   | 2,367    |   |
| Total liabilities                                                       | 207,463       |               |                   | 254,192  |   |
|                                                                         |                    |               |                   |
| Members' capital                                                        | $                  | 87,788   |                   |               | $ | 93,952   |  |
| Total liabilities and members' capital                                  | $                  | 295,251  |                   |               | $ | 348,144  |  |

|                                                                     |                    |             |                    |               |                    |             |                    |  |   |              |  |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--------------------|-------------|--------------------|---------------|--------------------|-------------|--------------------|--|---|--------------|--|--|---|--------------|--|--|--|--|--|--|--|--|--|
| Selected Statement of Operations                                    | Three Months Ended |             | Nine Months Ended  |
|  Information:                                              | September 30, 2020 |             | September 30, 2019 |               | September 30, 2020 |             | September 30, 2019 |
| Interest income                                                     | $                  | 4,174  |                    |               | $                  | 6,013  |                    |  | $ | 14,153  |  |  | $ | 18,581  |  |
| Other income                                                        | —       |             |                    | 31       |                    |             | 70            |  |   | 89      |  |
| Total investment income                                             | 4,174         |             |                    | 6,044    |                    |             | 14,223        |  |   | 18,670  |  |
|                                                                     |                    |             |                    |               |                    |             |                    |
| Interest and other financing expenses                               | 1,190         |             |                    | 2,745    |                    |             | 4,696         |  |   | 8,484   |  |
| Other expenses                                                      | 98            |             |                    | 129      |                    |             | 360           |  |   | 408     |  |
| Total expenses                                                      | 1,288         |             |                    | 2,874    |                    |             | 5,056         |  |   | 8,892   |  |
| Less: expenses waived and reimbursed                            | —       |             |                    | —  |                    |             | —       |  |   | (20)         |  |
| Net expenses                                                        | 1,288         |             |                    | 2,874    |                    |             | 5,056         |  |   | 8,872   |  |
| Net investment income                                               | 2,886         |             |                    | 3,170    |                    |             | 9,167         |  |   | 9,798   |  |
|                                                                     |                    |             |                    |               |                    |             |                    |
| Net realized gains (losses) on investments                          | 3             |             |                    | 116      |                    |             | (803)              |  |   | 377     |  |
| Net change in unrealized appreciation (depreciation) of investments | 6,988         |             |                    | (2,371)       |                    |             | (6,061)            |  |   | (1,311)      |  |
| Net increase in members' capital                                    | $                  | 9,877  |                    |               | $                  | 915    |                    |  | $ | 2,303   |  |  | $ | 8,864   |  |

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Table of Contents

|                                                              |  |                    |               |                   |            |   |               |  |  |  |  |  |  |  |
|--------------------------------------------------------------|--|--------------------|---------------|-------------------|------------|---|---------------|--|--|--|--|--|--|--|
|                                                              |  | September 30, 2020 |               | December 31, 2019 |
| First lien investments (1)                                   |  | $                  | 554,145  |                   |            | $ | 493,787  |  |
| Weighted average interest rate on first lien investments (2) |  | 4.63          | %             |                   | 5.95  | % |
| Number of portfolio companies in SLP III                     |  | 58            |               |                   | 49    |   |
| Largest portfolio company investment (1)                     |  | $                  | 23,787   |                   |            | $ | 23,947   |  |
| Total of five largest portfolio company investments (1)      |  | $                  | 99,403   |                   |            | $ | 99,906   |  |

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Table of Contents

|                                                                   |  |                              |  |                         |  |                    |  |                                     |           |            |              |                |           |              |  |   |           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------|--|------------------------------|--|-------------------------|--|--------------------|--|-------------------------------------|-----------|------------|--------------|----------------|-----------|--------------|--|---|-----------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                          |  | Industry                     |  | Interest Rate (1)       |  | Maturity Date      |  |  Principal Amount or Par Value |           |  Cost |              | Fair Value (2) |
| Funded Investments - First lien                                   |  |                              |  |                         |  |                    |  |                                     |           |            |              |                |
| Access CIG, LLC                                                   |  | Business Services            |  |  3.91% (L + 3.75%) |  | 2/27/2025  |  | $                                   | 870  |            |              | $              | 870  |              |  | $ | 852  |  |
| Advisor Group Holdings, Inc.                                      |  | Consumer Services            |  |  5.15% (L + 5.00%) |  | 7/31/2026  |  | 4,963                          |           |            | 4,920   |                |           | 4,815   |  |
| Affordable Care Holding Corp.                                     |  | Healthcare Services          |  |  5.75% (L + 4.75%) |  | 10/24/2022 |  | 5,917                          |           |            | 5,858   |                |           | 5,605   |  |
| AG Parent Holdings, LLC                                           |  | Healthcare Services          |  |  5.15% (L + 5.00%) |  | 7/31/2026  |  | 12,406                         |           |            | 12,353  |                |           | 12,220  |  |
| Ascensus Specialties LLC                                          |  | Business Services            |  |  4.91% (L + 4.75%) |  | 9/24/2026  |  | 9,925                          |           |            | 9,881   |                |           | 9,578   |  |
| Aston FinCo S.a.r.l. / Aston US Finco, LLC                    |  | Software                     |  |  4.40% (L + 4.25%) |  | 10/9/2026  |  | 5,970                          |           |            | 5,917   |                |           | 5,895   |  |
| Astra Acquisition Corp.                                           |  | Software                     |  |  6.50% (L + 5.50%) |  | 3/1/2027   |  | 11,519                         |           |            | 11,438  |                |           | 11,577  |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  4.15% (L + 4.00%) |  | 6/11/2026  |  | 9,098                          |           |            | 9,021   |                |           | 8,916   |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  4.15% (L + 4.00%) |  | 6/11/2026  |  | 1,430                          |           |            | 1,421   |                |           | 1,401   |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  5.25% (L + 4.25%) |  | 7/9/2026   |  | 19,703                         |           |            | 19,619  |                |           | 19,703  |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  5.25% (L + 4.25%) |  | 7/9/2026   |  | 1,292                          |           |            | 1,287   |                |           | 1,292   |  |
| Bleriot US Bidco Inc.                                             |  | Federal Services             |  |  4.97% (L + 4.75%) |  | 10/31/2026 |  | 4,303                          |           |            | 4,264   |                |           | 4,273   |  |
| Bleriot US Bidco Inc.                                             |  | Federal Services             |  |  4.97% (L + 4.75%) |  | 10/31/2026 |  | 672                            |           |            | 666     |                |           | 668     |  |
| Bluefin Holding, LLC                                              |  | Software                     |  |  4.15% (L + 4.00%) |  | 9/4/2026   |  | 9,925                          |           |            | 9,795   |                |           | 9,925   |  |
| Bracket Intermediate Holding Corp.                                |  | Healthcare Services          |  |  4.55% (L + 4.25%) |  | 9/5/2025   |  | 14,700                         |           |            | 14,645  |                |           | 14,443  |  |
| Brave Parent Holdings, Inc.                                       |  | Software                     |  |  4.15% (L + 4.00%) |  | 4/18/2025  |  | 11,246                         |           |            | 11,217  |                |           | 11,123  |  |
| CentralSquare Technologies, LLC                                   |  | Software                     |  |  3.90% (L + 3.75%) |  | 8/29/2025  |  | 14,738                         |           |            | 14,710  |                |           | 13,286  |  |
| Certara Holdco, Inc.                                              |  | Healthcare I.T.              |  |  3.72% (L + 3.50%) |  | 8/15/2024  |  | 1,249                          |           |            | 1,252   |                |           | 1,236   |  |
| CHA Holdings, Inc.                                                |  | Business Services            |  |  5.50% (L + 4.50%) |  | 4/10/2025  |  | 980                            |           |            | 980     |                |           | 916     |  |
| CommerceHub, Inc.                                                 |  | Software                     |  |  3.65% (L + 3.50%) |  | 5/21/2025  |  | 14,663                         |           |            | 14,611  |                |           | 14,333  |  |
| Covenant Surgical Partners, Inc.                                  |  | Healthcare Services          |  |  4.16% (L + 4.00%) |  | 7/1/2026   |  | 9,900                          |           |            | 9,816   |                |           | 9,133   |  |
| CRCI Longhorn Holdings, Inc.                                      |  | Business Services            |  |  3.64% (L + 3.50%) |  | 8/8/2025   |  | 14,700                         |           |            | 14,646  |                |           | 14,228  |  |
| Dealer Tire, LLC                                                  |  | Distribution & Logistics |  |  4.40% (L + 4.25%) |  | 12/12/2025 |  | 9,925                          |           |            | 9,902   |                |           | 9,727   |  |
| Dentalcorp Health Services ULC (fka Dentalcorp Perfect Smile ULC) |  | Healthcare Services          |  |  4.75% (L + 3.75%) |  | 6/6/2025   |  | 14,673                         |           |            | 14,647  |                |           | 13,921  |  |
| Drilling Info Holdings, Inc.                                      |  | Business Services            |  |  4.40% (L + 4.25%) |  | 7/30/2025  |  | 18,624                         |           |            | 18,555  |                |           | 17,980  |  |
| Edgewood Partners Holdings LLC                                    |  | Business Services            |  |  5.25% (L + 4.25%) |  | 9/6/2024   |  | 7,375                          |           |            | 7,320   |                |           | 7,117   |  |
| eResearchTechnology, Inc.                                         |  | Healthcare Services          |  |  5.50% (L + 4.50%) |  | 2/4/2027   |  | 3,921                          |           |            | 3,885   |                |           | 3,912   |  |
| EyeCare Partners, LLC                                             |  | Healthcare Services          |  |  3.90% (L + 3.75%) |  | 2/18/2027  |  | 12,101                         |           |            | 12,087  |                |           | 11,448  |  |
| Fastlane Parent Company, Inc.                                     |  | Distribution & Logistics |  |  4.65% (L + 4.50%) |  | 2/4/2026   |  | 3,448                          |           |            | 3,392   |                |           | 3,328   |  |
| Greenway Health, LLC                                              |  | Software                     |  |  4.75% (L + 3.75%) |  | 2/16/2024  |  | 14,557                         |           |            | 14,565  |                |           | 13,029  |  |
| Heartland Dental, LLC                                             |  | Healthcare Services          |  |  3.65% (L + 3.50%) |  | 4/30/2025  |  | 18,588                         |           |            | 18,522  |                |           | 17,199  |  |
| Help/Systems Holdings, Inc.                                   |  | Software                     |  |  5.75% (L + 4.75%) |  | 11/19/2026 |  | 18,486                         |           |            | 18,311  |                |           | 18,232  |  |
| Idera, Inc.                                                       |  | Software                     |  |  5.00% (L + 4.00%) |  | 6/28/2024  |  | 5,529                          |           |            | 5,509   |                |           | 5,467   |  |
| Institutional Shareholder Services Inc.                           |  | Business Services            |  |  4.72% (L + 4.50%) |  | 3/5/2026   |  | 985                            |           |            | 977     |                |           | 955     |  |
| Kestra Advisor Services Holdings A, Inc.                          |  | Business Services            |  |  4.40% (L + 4.25%) |  | 6/3/2026   |  | 9,405                          |           |            | 9,338   |                |           | 9,240   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  4.47% (L + 4.25%) |  | 3/17/2025  |  | 2,634                          |           |            | 2,618   |                |           | 2,502   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  4.47% (L + 4.25%) |  | 3/17/2025  |  | 680                            |           |            | 676     |                |           | 646     |  |
| Market Track, LLC                                                 |  | Business Services            |  |  5.25% (L + 4.25%) |  | 6/5/2024   |  | 4,741                          |           |            | 4,737   |                |           | 4,668   |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 8/31/2026  |  | 10,298                         |           |            | 10,214  |                |           | 9,818   |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 8/31/2026  |  | 1,807                          |           |            | 1,792   |                |           | 1,723   |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.00% (L + 4.00%) |  | 12/2/2022  |  | 4,514                          |           |            | 4,502   |                |           | 4,472   |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.00% (L + 4.00%) |  | 12/2/2022  |  | 873                            |           |            | 871     |                |           | 865     |  |
| National Intergovernmental Purchasing Alliance Company            |  | Business Services            |  |  3.97% (L + 3.75%) |  | 5/23/2025  |  | 8,724                          |           |            | 8,720   |                |           | 8,571   |  |
| National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.)      |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 3/9/2026   |  | 8,901                          |           |            | 8,901   |                |           | 8,823   |  |
| National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.)      |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 3/9/2026   |  | 406                            |           |            | 406     |                |           | 403     |  |
| Navex Topco, Inc.                                                 |  | Software                     |  |  3.40% (L + 3.25%) |  | 9/5/2025   |  | 18,255                         |           |            | 18,118  |                |           | 17,844  |  |
| Navicure, Inc.                                                    |  | Healthcare Services          |  |  4.75% (L + 4.00%) |  | 10/22/2026 |  | 4,118                          |           |            | 4,107   |                |           | 4,035   |  |
| Netsmart Technologies, Inc.                                       |  | Healthcare I.T.              |  |  6.00% (P + 2.75%) |  | 4/19/2023  |  | 10,250                         |           |            | 10,250  |                |           | 10,250  |  |
| Newport Group Holdings II, Inc.                                   |  | Business Services            |  |  3.72% (L + 3.50%) |  | 9/12/2025  |  | 4,900                          |           |            | 4,882   |                |           | 4,722   |  |
| Orion Advisor Solutions, Inc.                                     |  | Business Services            |  |  5.00% (L + 4.00%) |  | 9/24/2027  |  | 5,250                          |           |            | 5,198   |                |           | 5,219   |  |
| Outcomes Group Holdings, Inc.                                     |  | Healthcare Services          |  |  3.47% (L + 3.25%) |  | 10/24/2025 |  | 3,409                          |           |            | 3,402   |                |           | 3,341   |  |
| Pelican Products, Inc.                                            |  | Business Products            |  |  4.50% (L + 3.50%) |  | 5/1/2025   |  | 4,888                          |           |            | 4,879   |                |           | 4,688   |  |

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Table of Contents

|                                                             |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |               |               |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|------------------------------|--|-------------------------------------|--|--------------------|--|-------------------------------------|---------------|------------|---------------|----------------|---------------|---------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                    |  | Industry                     |  | Interest Rate (1)                   |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost |               | Fair Value (2) |
| Peraton Corp. (fka MHVC Acquisition Corp.)                  |  | Federal Services             |  |  6.25% (L + 5.25%)             |  | 4/29/2024  |  | 15,312                         |               |            | 15,262   |                |               | 15,197   |  |
| Premise Health Holding Corp.                                |  | Healthcare Services          |  |  3.72% (L + 3.50%)             |  | 7/10/2025  |  | 13,619                         |               |            | 13,569   |                |               | 13,177   |  |
| Project Accelerate Parent, LLC                              |  | Business Services            |  |  5.25% (L + 4.25%)             |  | 1/2/2025   |  | 9,848                          |               |            | 9,809    |                |               | 8,962    |  |
| Quest Software US Holdings Inc.                             |  | Software                     |  |  4.51% (L + 4.25%)             |  | 5/16/2025  |  | 14,737                         |               |            | 14,685   |                |               | 14,467   |  |
| Ryan Specialty Group, LLC                                   |  | Business Services            |  |  4.00% (L + 3.25%)             |  | 9/1/2027   |  | 3,500                          |               |            | 3,448    |                |               | 3,483    |  |
| Sierra Enterprises, LLC                                     |  | Food & Beverage          |  |  5.00% (L + 4.00%)             |  | 11/11/2024 |  | 2,437                          |               |            | 2,435    |                |               | 2,255    |  |
| Spring Education Group, Inc. (fka SSH Group Holdings, Inc.) |  | Education                    |  |  4.47% (L + 4.25%)             |  | 7/30/2025  |  | 12,214                         |               |            | 12,193   |                |               | 11,580   |  |
| TIBCO Software Inc.                                         |  | Software                     |  |  3.90% (L + 3.75%)             |  | 6/30/2026  |  | 7,673                          |               |            | 7,655    |                |               | 7,500    |  |
| Unitek Acquisition, Inc.                                    |  | Business Services            |  |  7.50% (L + 5.50% + 1.00% PIK) |  | 8/20/2024  |  | 3,325                          |               |            | 2,700    |                |               | 2,975    |  |
| Unitek Acquisition, Inc.                                    |  | Business Services            |  |  7.50% (L + 5.50% + 1.00% PIK) |  | 8/20/2024  |  | 665                            |               |            | 540      |                |               | 595      |  |
| Wirepath LLC                                                |  | Distribution & Logistics |  |  4.22% (L + 4.00%)             |  | 8/5/2024   |  | 17,170                         |               |            | 17,171   |                |               | 15,798   |  |
| WP CityMD Bidco LLC                                         |  | Healthcare Services          |  |  5.50% (L + 4.50%)             |  | 8/13/2026  |  | 19,918                         |               |            | 19,744   |                |               | 19,852   |  |
| VT Topco, Inc.                                              |  | Business Services            |  |  3.40% (L + 3.25%)             |  | 8/1/2025   |  | 2,802                          |               |            | 2,802    |                |               | 2,676    |  |
| YI, LLC                                                     |  | Healthcare Services          |  |  5.00% (L + 4.00%)             |  | 11/7/2024  |  | 9,716                          |               |            | 9,710    |                |               | 8,501    |  |
| Total Funded Investments                                    |  |                              |  |                                     |  |                    |  | $                                   | 545,370  |            |               | $              | 542,193  |               |  | $ | 526,581  |  |
|                                                             |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |
| Unfunded Investments - First lien                           |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |
| BCPE Empire Holdings, Inc.                                  |  | Distribution & Logistics |  | —                             |  | 6/11/2021  |  | 369                            |               |            | (4)           |                |               | (7)           |  |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  | —                             |  | 7/9/2021   |  | 2,792                          |               |            | (14)          |                |               | —  |  |
| Covenant Surgical Partners, Inc.                            |  | Healthcare Services          |  | —                             |  | 7/1/2021   |  | 2,000                          |               |            | (20)          |                |               | (155)         |  |
| EyeCare Partners, LLC                                       |  | Healthcare Services          |  | —                             |  | 2/18/2022  |  | 2,838                          |               |            | —  |                |               | (153)         |  |
| MED ParentCo, LP                                            |  | Healthcare Services          |  | —                             |  | 8/27/2021  |  | 776                            |               |            | (8)           |                |               | (36)          |  |
| Total Unfunded Investments                                  |  |                              |  |                                     |  |                    |  | $                                   | 8,775    |            |               | $              | (46)          |               |  | $ | (351)         |  |
| Total Investments                                           |  |                              |  |                                     |  |                    |  | $                                   | 554,145  |            |               | $              | 542,147  |               |  | $ | 526,230  |  |

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Table of Contents

|                                                                   |  |                              |  |                         |  |                    |  |                                     |             |            |              |                |             |              |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------|--|------------------------------|--|-------------------------|--|--------------------|--|-------------------------------------|-------------|------------|--------------|----------------|-------------|--------------|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                          |  | Industry                     |  | Interest Rate (1)       |  | Maturity Date      |  |  Principal Amount or Par Value |             |  Cost |              | Fair Value (2) |
| Funded Investments - First lien                                   |  |                              |  |                         |  |                    |  |                                     |             |            |              |                |
| Access CIG, LLC                                                   |  | Business Services            |  |  5.44% (L + 3.75%) |  | 2/27/2025  |  | $                                   | 1,204  |            |              | $              | 1,204  |              |  | $ | 1,205  |  |
| Advisor Group Holdings, Inc.                                      |  | Consumer Services            |  |  6.80% (L + 5.00%) |  | 7/31/2026  |  | 5,000                          |             |            | 4,952   |                |             | 4,972   |  |
| Affordable Care Holding Corp.                                     |  | Healthcare Services          |  |  6.59% (L + 4.75%) |  | 10/24/2022 |  | 5,963                          |             |            | 5,884   |                |             | 5,814   |  |
| AG Parent Holdings, LLC                                           |  | Healthcare Services          |  |  6.91% (L + 5.00%) |  | 7/31/2026  |  | 12,500                         |             |            | 12,440  |                |             | 12,406  |  |
| Aston FinCo S.a r.l. / Aston US Finco, LLC                    |  | Software                     |  |  6.26% (L + 4.25%) |  | 10/9/2026  |  | 6,000                          |             |            | 5,941   |                |             | 5,970   |  |
| Ascensus Specialties LLC                                          |  | Business Services            |  |  6.44% (L + 4.75%) |  | 9/24/2026  |  | 10,000                         |             |            | 9,951   |                |             | 9,975   |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  5.80% (L + 4.00%) |  | 6/11/2026  |  | 9,167                          |             |            | 9,080   |                |             | 9,224   |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  5.80% (L + 4.00%) |  | 6/11/2026  |  | 229                            |             |            | 243     |                |             | 231     |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  6.19% (L + 4.25%) |  | 7/9/2026   |  | 19,853                         |             |            | 19,759  |                |             | 19,753  |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  6.19% (L + 4.25%) |  | 7/9/2026   |  | 1,302                          |             |            | 1,296   |                |             | 1,296   |  |
| Bleriot US Bidco Inc.                                             |  | Federal Services             |  |  6.69% (L + 4.75%) |  | 10/30/2026 |  | 4,324                          |             |            | 4,281   |                |             | 4,373   |  |
| Bluefin Holding, LLC                                              |  | Software                     |  |  6.14% (L + 4.25%) |  | 9/4/2026   |  | 10,000                         |             |            | 9,855   |                |             | 9,900   |  |
| Bracket Intermediate Holding Corp.                                |  | Healthcare Services          |  |  6.35% (L + 4.25%) |  | 9/5/2025   |  | 14,813                         |             |            | 14,750  |                |             | 14,775  |  |
| Brave Parent Holdings, Inc.                                       |  | Software                     |  |  5.93% (L + 4.00%) |  | 4/18/2025  |  | 14,775                         |             |            | 14,732  |                |             | 14,560  |  |
| CentralSquare Technologies, LLC                                   |  | Software                     |  |  5.55% (L + 3.75%) |  | 8/29/2025  |  | 14,850                         |             |            | 14,819  |                |             | 14,231  |  |
| Certara Holdco, Inc.                                              |  | Healthcare I.T.              |  |  5.44% (L + 3.50%) |  | 8/15/2024  |  | 1,262                          |             |            | 1,266   |                |             | 1,262   |  |
| CHA Holdings, Inc.                                                |  | Business Services            |  |  6.44% (L + 4.50%) |  | 4/10/2025  |  | 987                            |             |            | 987     |                |             | 986     |  |
| CommerceHub, Inc.                                                 |  | Software                     |  |  5.30% (L + 3.50%) |  | 5/21/2025  |  | 14,775                         |             |            | 14,716  |                |             | 14,590  |  |
| Covenant Surgical Partners, Inc.                                  |  | Healthcare Services          |  |  5.69% (L + 4.00%) |  | 7/1/2026   |  | 9,975                          |             |            | 9,881   |                |             | 9,913   |  |
| CRCI Longhorn Holdings, Inc.                                      |  | Business Services            |  |  5.19% (L + 3.50%) |  | 8/8/2025   |  | 14,813                         |             |            | 14,751  |                |             | 14,414  |  |
| Dentalcorp Health Services ULC (fka Dentalcorp Perfect Smile ULC) |  | Healthcare Services          |  |  5.55% (L + 3.75%) |  | 6/6/2025   |  | 14,786                         |             |            | 14,755  |                |             | 14,737  |  |
| Drilling Info Holdings, Inc.                                      |  | Business Services            |  |  6.05% (L + 4.25%) |  | 7/30/2025  |  | 18,766                         |             |            | 18,688  |                |             | 18,688  |  |
| Edgewood Partners Holdings LLC                                    |  | Business Services            |  |  6.05% (L + 4.25%) |  | 9/6/2024   |  | 7,432                          |             |            | 7,367   |                |             | 7,413   |  |
| Explorer Holdings, Inc.                                           |  | Healthcare Services          |  |  6.25% (L + 4.50%) |  | 11/20/2026 |  | 3,931                          |             |            | 3,892   |                |             | 3,964   |  |
| Fastlane Parent Company, Inc.                                     |  | Distribution & Logistics |  |  6.44% (L + 4.50%) |  | 2/4/2026   |  | 3,474                          |             |            | 3,411   |                |             | 3,448   |  |
| Greenway Health, LLC                                              |  | Software                     |  |  5.69% (L + 3.75%) |  | 2/16/2024  |  | 14,670                         |             |            | 14,679  |                |             | 13,093  |  |
| Heartland Dental, LLC                                             |  | Healthcare Services          |  |  5.55% (L + 3.75%) |  | 4/30/2025  |  | 18,317                         |             |            | 18,243  |                |             | 18,248  |  |
| Help/Systems Holdings, Inc.                                   |  | Software                     |  |  6.55% (L + 4.75%) |  | 11/19/2026 |  | 5,556                          |             |            | 5,500   |                |             | 5,535   |  |
| Idera, Inc.                                                       |  | Software                     |  |  6.30% (L + 4.50%) |  | 6/28/2024  |  | 5,572                          |             |            | 5,548   |                |             | 5,576   |  |
| Institutional Shareholder Services Inc.                           |  | Business Services            |  |  6.44% (L + 4.50%) |  | 3/5/2026   |  | 993                            |             |            | 983     |                |             | 978     |  |
| Kestra Advisor Services Holdings A, Inc.                          |  | Business Services            |  |  6.20% (L + 4.25%) |  | 6/3/2026   |  | 9,476                          |             |            | 9,402   |                |             | 9,477   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  6.31% (L + 4.25%) |  | 3/17/2025  |  | 2,654                          |             |            | 2,634   |                |             | 2,627   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  6.31% (L + 4.25%) |  | 3/17/2025  |  | 685                            |             |            | 680     |                |             | 678     |  |
| Market Track, LLC                                                 |  | Business Services            |  |  6.18% (L + 4.25%) |  | 6/5/2024   |  | 4,778                          |             |            | 4,773   |                |             | 4,300   |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  6.05% (L + 4.25%) |  | 8/31/2026  |  | 10,376                         |             |            | 10,282  |                |             | 10,402  |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  6.05% (L + 4.25%) |  | 8/31/2026  |  | 553                            |             |            | 549     |                |             | 554     |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.85% (L + 4.00%) |  | 12/2/2022  |  | 4,549                          |             |            | 4,534   |                |             | 4,549   |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.85% (L + 4.00%) |  | 12/2/2022  |  | 880                            |             |            | 877     |                |             | 880     |  |
| National Intergovernmental Purchasing Alliance Company            |  | Business Services            |  |  5.69% (L + 3.75%) |  | 5/23/2025  |  | 8,790                          |             |            | 8,786   |                |             | 8,790   |  |
| Navex Topco, Inc.                                                 |  | Software                     |  |  5.05% (L + 3.25%) |  | 9/5/2025   |  | 18,394                         |             |            | 18,237  |                |             | 18,448  |  |
| Netsmart Technologies, Inc.                                       |  | Healthcare I.T.              |  |  5.55% (L + 3.75%) |  | 4/19/2023  |  | 10,330                         |             |            | 10,330  |                |             | 10,308  |  |
| Newport Group Holdings II, Inc.                                   |  | Business Services            |  |  5.65% (L + 3.75%) |  | 9/12/2025  |  | 4,938                          |             |            | 4,917   |                |             | 4,950   |  |
| NorthStar Financial Services Group, LLC                           |  | Software                     |  |  5.30% (L + 3.50%) |  | 5/25/2025  |  | 11,770                         |             |            | 11,723  |                |             | 11,579  |  |
| Outcomes Group Holdings, Inc.                                     |  | Healthcare Services          |  |  5.41% (L + 3.50%) |  | 10/24/2025 |  | 6,435                          |             |            | 6,421   |                |             | 6,344   |  |
| Pelican Products, Inc.                                            |  | Business Products            |  |  5.24% (L + 3.50%) |  | 5/1/2025   |  | 4,925                          |             |            | 4,915   |                |             | 4,531   |  |
| Peraton Corp. (fka MHVC Acquisition Corp.)                        |  | Federal Services             |  |  7.05% (L + 5.25%) |  | 4/29/2024  |  | 15,430                         |             |            | 15,371  |                |             | 15,363  |  |
| Premise Health Holding Corp.                                      |  | Healthcare Services          |  |  5.44% (L + 3.50%) |  | 7/10/2025  |  | 13,723                         |             |            | 13,666  |                |             | 13,580  |  |
| Project Accelerate Parent, LLC                                    |  | Business Services            |  |  5.99% (L + 4.25%) |  | 1/2/2025   |  | 9,924                          |             |            | 9,878   |                |             | 9,899   |  |
| Quest Software US Holdings Inc.                                   |  | Software                     |  |  6.18% (L + 4.25%) |  | 5/16/2025  |  | 14,850                         |             |            | 14,790  |                |             | 14,739  |  |
| Sierra Enterprises, LLC                                           |  | Food & Beverage          |  |  5.80% (L + 4.00%) |  | 11/11/2024 |  | 2,456                          |             |            | 2,454   |                |             | 2,447   |  |
| Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)       |  | Education                    |  |  6.19% (L + 4.25%) |  | 7/30/2025  |  | 14,812                         |             |            | 14,782  |                |             | 14,905  |  |
| Wirepath LLC                                                      |  | Distribution & Logistics |  |  5.94% (L + 4.00%) |  | 8/5/2024   |  | 17,302                         |             |            | 17,302  |                |             | 15,053  |  |
| WP CityMD Bidco LLC                                               |  | Healthcare Services          |  |  6.44% (L + 4.50%) |  | 8/13/2026  |  | 20,069                         |             |            | 19,875  |                |             | 20,119  |  |

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|                                          |  |                              |  |                         |  |                    |  |                                     |               |            |               |                |               |         |             |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|------------------------------|--|-------------------------|--|--------------------|--|-------------------------------------|---------------|------------|---------------|----------------|---------------|---------|-------------|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment |  | Industry                     |  | Interest Rate (1)       |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost |               | Fair Value (2) |
| YI, LLC                                  |  | Healthcare Services          |  |  5.94% (L + 4.00%) |  | 11/7/2024  |  | $                                   | 9,791    |            |               | 9,784     |               |         | 9,155  |   |
| Total Funded Investments                 |  |                              |  |                         |  |                    |  | $                                   | 483,179  |            |               | $              | 480,816  |         |             | $ | 475,207  |  |
| Unfunded Investments - First lien        |  |                              |  |                         |  |                    |  |                                     |               |            |               |                |
| BCPE Empire Holdings, Inc.               |  | Distribution & Logistics |  | —                 |  | 6/11/2021  |  | $                                   | 1,580    |            |               | $              | (16)          |         |             | $ | 10       |  |
| Bearcat Buyer, Inc.                      |  | Healthcare Services          |  | —                 |  | 7/9/2021   |  | 2,792                          |               |            | (14)          |                |               | (14)    |             |
| Bleriot US Bidco Inc.                    |  | Federal Services             |  | —                 |  | 10/31/2020 |  | 676                            |               |            | (7)           |                |               | 8  |             |
| Covenant Surgical Partners, Inc.         |  | Healthcare Services          |  | —                 |  | 7/1/2021   |  | 2,000                          |               |            | (20)          |                |               | (13)    |             |
| Heartland Dental, LLC                    |  | Healthcare Services          |  | —                 |  | 4/30/2020  |  | 413                            |               |            | —  |                |               | (2)     |             |
| MED ParentCo, LP                         |  | Healthcare Services          |  | —                 |  | 8/27/2021  |  | 2,044                          |               |            | (20)          |                |               | 5  |             |
| Premise Health Holding Corp.             |  | Healthcare Services          |  | —                 |  | 7/10/2020  |  | 1,103                          |               |            | (3)           |                |               | (3)     |             |
| Total Unfunded Investments               |  |                              |  |                         |  |                    |  | $                                   | 10,608   |            |               | $              | (80)          |         |             | $ | (9)           |  |
| Total Investments                        |  |                              |  |                         |  |                    |  | $                                   | 493,787  |            |               | $              | 480,736  |         |             | $ | 475,198  |  |

|  |  |  |
|--|--|--|
|  |

|                                                           |                    |               |                   |               |   |               |  |  |  |  |  |
|-----------------------------------------------------------|--------------------|---------------|-------------------|---------------|---|---------------|--|--|--|--|--|
| Selected Balance Sheet Information:                   | September 30, 2020 |               | December 31, 2019 |
| Investments at fair value (cost of $542,147 and $480,736) | $                  | 526,230  |                   |               | $ | 475,198  |  |
| Cash and other assets                                     | 14,005        |               |                   | 12,836   |   |
| Receivable from unsettled securities sold                 | 2,385         |               |                   | —  |   |
| Total assets                                              | $                  | 542,620  |                   |               | $ | 488,034  |  |
|                                                           |                    |               |                   |
| Credit facility                                           | $                  | 395,200  |                   |               | $ | 355,400  |  |
| Deferred financing costs                                  | (2,322)            |               |                   | (2,385)       |   |
| Payable for unsettled securities purchased                | 9,384         |               |                   | 8,166    |   |
| Distribution payable                                      | 4,000         |               |                   | 3,650    |   |
| Other liabilities                                         | 2,396         |               |                   | 3,736    |   |
| Total liabilities                                         | 408,658       |               |                   | 368,567  |   |
|                                                           |                    |               |                   |
| Members' capital                                          | $                  | 133,962  |                   |               | $ | 119,467  |  |
| Total liabilities and members' capital                    | $                  | 542,620  |                   |               | $ | 488,034  |  |

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|                                                                     |                    |              |                    |               |                    |             |                    |  |   |              |  |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--------------------|--------------|--------------------|---------------|--------------------|-------------|--------------------|--|---|--------------|--|--|---|--------------|--|--|--|--|--|--|--|--|--|
| Selected Statement of Operations Information:                   | Three Months Ended |              | Nine Months Ended  |
|                                                                     | September 30, 2020 |              | September 30, 2019 |               | September 30, 2020 |             | September 30, 2019 |
| Interest income                                                     | $                  | 6,490   |                    |               | $                  | 7,268  |                    |  | $ | 20,826  |  |  | $ | 19,828  |  |
| Other income                                                        | 75            |              |                    | 122      |                    |             | 320           |  |   | 270     |  |
| Total investment income                                             | 6,565         |              |                    | 7,390    |                    |             | 21,146        |  |   | 20,098  |  |
|                                                                     |                    |              |                    |               |                    |             |                    |
| Interest and other financing expenses                               | 2,516         |              |                    | 3,770    |                    |             | 9,593         |  |   | 10,511  |  |
| Other expenses                                                      | 250           |              |                    | 166      |                    |             | 571           |  |   | 469     |  |
| Total expenses                                                      | 2,766         |              |                    | 3,936    |                    |             | 10,164        |  |   | 10,980  |  |
| Less: expenses waived and reimbursed                            | —       |              |                    | —  |                    |             | —       |  |   | (22)         |  |
| Net expenses                                                        | 2,766         |              |                    | 3,936    |                    |             | 10,164        |  |   | 10,958  |  |
| Net investment income                                               | 3,799         |              |                    | 3,454    |                    |             | 10,982        |  |   | 9,140   |  |
|                                                                     |                    |              |                    |               |                    |             |                    |
| Net realized (losses) gains on investments                          | (82)               |              |                    | 100      |                    |             | (78)               |  |   | 170     |  |
| Net change in unrealized appreciation (depreciation) of investments | 14,775        |              |                    | (1,800)       |                    |             | (10,379)           |  |   | 1,855   |  |
| Net increase in members' capital                                    | $                  | 18,492  |                    |               | $                  | 1,754  |                    |  | $ | 525     |  |  | $ | 11,165  |  |

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|                   |               |                 |              |               |               |               |                |  |   |               |  |  |   |                 |  |  |  |  |  |  |  |  |  |
|-------------------|---------------|-----------------|--------------|---------------|---------------|---------------|----------------|--|---|---------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|
|              | Total         |                 | Level I |               | Level II |               | Level III |
| First lien        | $             | 1,662,653  |              |               | $             | —  |                |  | $ | 167,616  |  |  | $ | 1,495,037  |  |
| Second lien       | 689,319  |                 |              | —  |               |               | 93,784    |  |   | 595,535  |  |
| Subordinated      | 43,536   |                 |              | —  |               |               | —   |  |   | 43,536   |  |
| Equity and other  | 501,115  |                 |              | —  |               |               | —   |  |   | 501,115  |  |
| Total investments | $             | 2,896,623  |              |               | $             | —  |                |  | $ | 261,400  |  |  | $ | 2,635,223  |  |

|                   |               |                 |              |               |               |               |                |  |   |               |  |  |   |                 |  |  |  |  |  |  |  |  |  |
|-------------------|---------------|-----------------|--------------|---------------|---------------|---------------|----------------|--|---|---------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|
|              | Total         |                 | Level I |               | Level II |               | Level III |
| First lien        | $             | 1,801,615  |              |               | $             | —  |                |  | $ | 263,192  |  |  | $ | 1,538,423  |  |
| Second lien       | 788,868  |                 |              | —  |               |               | 369,477   |  |   | 419,391  |  |
| Subordinated      | 66,774   |                 |              | —  |               |               | 20,870    |  |   | 45,904   |  |
| Equity and other  | 503,023  |                 |              | —  |               |               | —   |  |   | 503,023  |  |
| Total investments | $             | 3,160,280  |              |               | $             | —  |                |  | $ | 653,539  |  |  | $ | 2,506,741  |  |

|                                                                                                                                                                           |              |                 |                 |              |                  |                 |               |  |                      |               |  |  |               |              |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|-----------------|-----------------|--------------|------------------|-----------------|---------------|--|----------------------|---------------|--|--|---------------|--------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                      | Total        |                 | First Lien |              | Second Lien |                 | Subordinated  |  | Equity andother |
| Fair value, June 30, 2020                                                                                                                                                 | $            | 2,702,692  |                 |              | $                | 1,533,018  |               |  | $                    | 665,894  |  |  | $             | 41,362  |  |  | $ | 462,418  |  |
| Total gains or losses included in earnings:                                                                                                                           |         |                 |                 |              |                  |                 |               |  |                      |
| Net realized gains on investments                                                                                                                                         | 233     |                 |                 | 220     |                  |                 | 13       |  |                      | —  |  |  | —  |              |
| Net change in unrealized appreciation                                                                                                                                     | 64,266  |                 |                 | 27,610  |                  |                 | 10,852   |  |                      | 1,368    |  |  | 24,436   |              |
| Purchases, including capitalized PIK and revolver fundings                                                                                                           | 56,439  |                 |                 | 39,901  |                  |                 | 1,471    |  |                      | 806      |  |  | 14,261   |              |
| Proceeds from sales and paydowns of investments                                                                                                                           | (43,020)     |                 |                 | (31,505)     |                  |                 | (11,515)      |  |                      | —  |  |  | —  |              |
| Transfers into Level III(1)                                                                                                                                               | 6,871   |                 |                 | 6,871   |                  |                 | —  |  |                      | —  |  |  | —  |              |
| Transfers out of Level III(1)                                                                                                                                             | (152,258)    |                 |                 | (81,078)     |                  |                 | (71,180)      |  |                      | —  |  |  | —  |              |
| Fair Value, September 30, 2020                                                                                                                                            | $            | 2,635,223  |                 |              | $                | 1,495,037  |               |  | $                    | 595,535  |  |  | $             | 43,536  |  |  | $ | 501,115  |  |
| Unrealized appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | $            | 64,284     |                 |              | $                | 27,628     |               |  | $                    | 10,852   |  |  | $             | 1,368   |  |  | $ | 24,436   |  |

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Table of Contents

|                                                                                                                                                                                          |               |                 |                 |               |                  |                 |               |  |                      |               |  |  |               |              |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|-----------------|-----------------|---------------|------------------|-----------------|---------------|--|----------------------|---------------|--|--|---------------|--------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                     | Total         |                 | First Lien |               | Second Lien |                 | Subordinated  |  | Equity andother |
| Fair value, June 30, 2019                                                                                                                                                                | $             | 2,028,442  |                 |               | $                | 1,198,153  |               |  | $                    | 330,396  |  |  | $             | 43,585  |  |  | $ | 456,308  |  |
| Total gains or losses included in earnings:                                                                                                                                          |          |                 |            |               |             |                 |          |  |                 |
| Net realized gains on investments                                                                                                                                                        | 15       |                 |                 | 15       |                  |                 | —  |  |                      | —  |  |  | —  |              |
| Net change in unrealized (depreciation) appreciation                                                                                                                                     | (3,165)       |                 |                 | 2,540    |                  |                 | (4,108)       |  |                      | 950      |  |  | (2,547)       |              |
| Purchases, including capitalized PIK and revolver fundings                                                                                                                               | 410,626  |                 |                 | 271,086  |                  |                 | 91,898   |  |                      | 980      |  |  | 46,662   |              |
| Proceeds from sales and paydowns of investments                                                                                                                                          | (94,158)      |                 |                 | (54,648)      |                  |                 | (39,510)      |  |                      | —  |  |  | —  |              |
| Transfers into Level III (1)                                                                                                                                                             | 175,725  |                 |                 | 51,662   |                  |                 | 124,063  |  |                      | —  |  |  | —  |              |
| Transfers out of Level III (1)                                                                                                                                                           | (135,378)     |                 |                 | (17,181)      |                  |                 | (118,197)     |  |                      | —  |  |  | —  |              |
| Fair Value, September 30, 2019                                                                                                                                                           | $             | 2,382,107  |                 |               | $                | 1,451,627  |               |  | $                    | 384,542  |  |  | $             | 45,515  |  |  | $ | 500,423  |  |
| Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | $             | (3,317)         |                 |               | $                | 2,540      |               |  | $                    | (4,260)       |  |  | $             | 950     |  |  | $ | (2,547)       |  |

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|                                                                                                                                                                           |               |                 |            |               |             |                 |               |  |                  |               |  |  |               |              |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|-----------------|------------|---------------|-------------|-----------------|---------------|--|------------------|---------------|--|--|---------------|--------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                           | Total         |                 | First Lien |               | Second Lien |                 | Subordinated  |  | Equity and other |
| Fair value, December 31, 2019                                                                                                                                        | $             | 2,506,741  |            |               | $           | 1,538,423  |               |  | $                | 419,391  |  |  | $             | 45,904  |  |  | $ | 503,023  |  |
| Total gains or losses included in earnings:                                                                                                                           |               |                 |            |               |             |                 |               |  |                  |
| Net realized (losses) gains on investments                                                                                                                                | (2,745)       |                 |            | (2,841)       |             |                 | 13       |  |                  | —  |  |  | 83       |              |
| Net change in unrealized (depreciation)                                                                                                                                   | (64,446)      |                 |            | (27,160)      |             |                 | (784)         |  |                  | (2,983)       |  |  | (33,519)      |              |
| Purchases, including capitalized PIK and revolver fundings                                                                                                           | 316,464  |                 |            | 263,378  |             |                 | 20,943   |  |                  | 615      |  |  | 31,528   |              |
| Proceeds from sales and paydowns of investments                                                                                                                           | (369,887)     |                 |            | (318,280)     |             |                 | (51,607)      |  |                  | —  |  |  | —  |              |
| Transfers into Level III(1)                                                                                                                                               | 306,981  |                 |            | 92,872   |             |                 | 214,109  |  |                  | —  |  |  | —  |              |
| Transfers out of Level III(1)                                                                                                                                             | (57,885)      |                 |            | (51,355)      |             |                 | (6,530)       |  |                  | —  |  |  | —  |              |
| Fair Value, September 30, 2020                                                                                                                                            | $             | 2,635,223  |            |               | $           | 1,495,037  |               |  | $                | 595,535  |  |  | $             | 43,536  |  |  | $ | 501,115  |  |
| Unrealized depreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | $             | (64,723)        |            |               | $           | (27,061)        |               |  | $                | (1,160)       |  |  | $             | (2,983)      |  |  | $ | (33,519)      |  |

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|                                                                                                                                                                                          |               |                 |            |               |             |                 |               |  |                  |               |  |  |               |              |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|-----------------|------------|---------------|-------------|-----------------|---------------|--|------------------|---------------|--|--|---------------|--------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                          | Total         |                 | First Lien |               | Second Lien |                 | Subordinated  |  | Equity and other |
| Fair value, December 31, 2018                                                                                                                                                       | $             | 1,775,071  |            |               | $           | 987,528    |               |  | $                | 306,815  |  |  | $             | 40,087  |  |  | $ | 440,641  |  |
| Total gains or losses included in earnings:                                                                                                                                          |               |                 |            |               |             |                 |               |  |                  |
| Net realized gains on investments                                                                                                                                                        | 202      |                 |            | 81       |             |                 | 121      |  |                  | —  |  |  | —  |              |
| Net change in unrealized appreciation (depreciation)                                                                                                                                     | 3,897    |                 |            | 4,067    |             |                 | (202)         |  |                  | 2,234    |  |  | (2,202)       |              |
| Purchases, including capitalized PIK and revolver fundings                                                                                                                               | 720,433  |                 |            | 504,983  |             |                 | 150,272  |  |                  | 3,194    |  |  | 61,984   |              |
| Proceeds from sales and paydowns of investments                                                                                                                                          | (174,984)     |                 |            | (83,747)      |             |                 | (91,237)      |  |                  | —  |  |  | —  |              |
| Transfers into Level III (1)                                                                                                                                                             | 202,728  |                 |            | 90,606   |             |                 | 112,122  |  |                  | —  |  |  | —  |              |
| Transfers out of Level III (1)                                                                                                                                                           | (145,240)     |                 |            | (51,891)      |             |                 | (93,349)      |  |                  | —  |  |  | —  |              |
| Fair Value, September 30, 2019                                                                                                                                                           | $             | 2,382,107  |            |               | $           | 1,451,627  |               |  | $                | 384,542  |  |  | $             | 45,515  |  |  | $ | 500,423  |  |
| Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | $             | 3,220      |            |               | $           | 4,069      |               |  | $                | (881)         |  |  | $             | 2,234   |  |  | $ | (2,202)       |  |

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Table of Contents

|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |         |            |           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------|-------------------------------------|-----------------|----------|------------------------------|------------------------------|------------------------|-----------------|-----------|--------|------------|-----------------|---------|------------|-----------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|             |                                     |                 |     |                              |                         |                        | Range           |
| Type             | Fair Value as of September 30, 2020 |                 | Approach |                              | Unobservable Input           |                        | Low             |           | High   |            | WeightedAverage |
| First lien       | $                                   | 1,438,801  |          |                              | Market & income approach |                        | EBITDA multiple |           | 5.0x   |            | 35.0x           |         | 14.0x      |
|                  |                                     |                 |          |                              | Revenue multiple             |                        | 3.5x            |           | 11.0x  |            | 5.9x            |
|                  |                                |                 |          |                              | Discount rate                |                        | 4.5        | %         |        | 17.0  | %               |         | 8.3   | %         |
|                  | 43,769                         |                 |          | Market quote                 |                              | Broker quote           |                 | N/A   |        | N/A    |                 | N/A |
|                  | 12,467                         |                 |          | Other                        |                              | N/A(1)             |                 | N/A   |        | N/A    |                 | N/A |
| Second lien      | 531,932                        |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 7.0x      |        | 34.0x      |                 | 15.1x   |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |
|                  |                                |                 |          |                              | Discount rate                |                        | 6.8        | %         |        | 21.7  | %               |         | 9.5   | %         |
|                  | 48,603                         |                 |          | Market quote                 |                              | Broker quote           |                 | N/A   |        | N/A    |                 | N/A |
|                  | 15,000                         |                 |          | Other                        |                              | N/A(1)             |                 | N/A   |        | N/A    |                 | N/A |
| Subordinated     | 43,536                         |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 9.0x      |        | 15.0x      |                 | 12.0x   |
|                  |                                |                 |          |                              | Discount rate                |                        | 10.2       | %         |        | 35.0  | %               |         | 18.0  | %         |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |
| Equity and other | 500,257                        |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 6.5x      |        | 19.5x      |                 | 12.6x   |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |
|                  |                                |                 |          |                              | Discount rate                |                        | 6.0        | %         |        | 47.7  | %               |         | 12.1  | %         |
|                  | 700                            |                 |          | Black Scholes analysis       |                              | Expected life in years |                 | 5.5  |        |            | 5.5        |         |            | 5.5  |  |
|                  |                                |                 |     |                              | Volatility                   |                        | 52.3       | %         |        | 52.3  | %               |         | 52.3  | %         |
|                  |                                |                 |     |                              | Discount rate                |                        | 0.7        | %         |        | 0.7   | %               |         | 0.7   | %         |
|                  | 158                            |                 |          | Other                        |                              | N/A(1)             |                 | N/A   |        | N/A    |                 | N/A |
|                  | $                                   | 2,635,223  |          |                              |                         |                        |            |           |   |            |            |         |       |

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|                  |                                    |                 |          |                              |                              |                        |                 |           |        |            |                 |         |            |           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------|------------------------------------|-----------------|----------|------------------------------|------------------------------|------------------------|-----------------|-----------|--------|------------|-----------------|---------|------------|-----------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|             |                                    |                 |     |                              |                         |                        | Range           |
| Type             | Fair Value as of December 31, 2019 |                 | Approach |                              | Unobservable Input           |                        | Low             |           | High   |            | WeightedAverage |
| First lien       | $                                  | 1,239,847  |          |                              | Market & income approach |                        | EBITDA multiple |           | 2.0x   |            | 35.0x           |         | 14.1x      |
|                  |                               |                 |          |                              | Revenue multiple             |                        | 3.5x            |           | 11.0x  |            | 6.5x            |
|                  |                                    |                 |          |                              | Discount rate                |                        | 6.3        | %         |        | 14.8  | %               |         | 8.6   | %         |
|                  | 298,576                       |                 |          | Market quote                 |                              | Broker quote           |                 | N/A   |        | N/A    |                 | N/A |
|                  |                                    |                 |          |                              |                              |                        |                 |           |        |            |                 |
| Second lien      | 196,494                       |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 6.5x      |        | 32.0x      |                 | 14.8x   |
|                  |                               |                 |          |                              | Revenue multiple             |                        | 0.1x            |           | 1.3x   |            | 0.7x            |
|                  |                                    |                 |          |                              | Discount rate                |                        | 8.6        | %         |        | 20.4  | %               |         | 11.6  | %         |
|                  | 222,897                       |                 |          | Market quote                 |                              | Broker quote           |                 | N/A   |        | N/A    |                 | N/A |
| Subordinated     | 45,904                        |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 5.5x      |        | 15.0x      |                 | 10.7x   |
|                  |                               |                 |          |                              | Discount rate                |                        | 10.2       | %         |        | 35.0  | %               |         | 18.8  | %         |
| Equity and other | 502,125                       |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 5.5x      |        | 19.5x      |                 | 11.9x   |
|                  |                               |                 |          |                              | Revenue multiple             |                        | 0.1x            |           | 1.3x   |            | 0.7x            |
|                  |                                    |                 |          |                              | Discount rate                |                        | 6.2        | %         |        | 57.4  | %               |         | 13.8  | %         |
|                  | 898                           |                 |          | Black Scholes analysis       |                              | Expected life in years |                 | 6.3  |        |            | 6.3        |         |            | 6.3  |  |
|                  |                                    |                 |     |                              | Volatility                   |                        | 23.4       | %         |        | 23.4  | %               |         | 23.4  | %         |
|                  |                                    |                 |     |                              | Discount rate                |                        | 1.8        | %         |        | 1.8   | %               |         | 1.8   | %         |
|                  | $                                  | 2,506,741  |          |                              |                         |                        |            |           |   |            |            |         |       |

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|                                                               |                    |               |                    |               |                    |               |                    |  |   |               |  |  |   |               |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------|--------------------|---------------|--------------------|---------------|--------------------|---------------|--------------------|--|---|---------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                                                          | Three Months Ended |               | Nine Months Ended  |
|                                                          | September 30, 2020 |               | September 30, 2019 |               | September 30, 2020 |               | September 30, 2019 |
| Management fee                                           | $                  | 12,877   |                    |               | $                  | 12,687   |                    |  | $ | 39,869   |  |  | $ | 35,302   |  |
| Less: management fee waiver                               | (2,841)            |               |                    | (3,141)       |                    |               | (9,567)            |  |   | (8,497)       |  |
| Total management fee                                          | 10,036        |               |                    | 9,546    |                    |               | 30,302        |  |   | 26,805   |  |
| Incentive fee, excluding accrued capital gains incentive fees | $                  | 7,135    |                    |               | $                  | 7,792    |                    |  | $ | 21,857   |  |  | $ | 21,642   |  |
| Less: incentive fee waiver                                | (500)              |               |                    | —  |                    |               | (500)              |  |   | —  |  |
| Total incentive fee                                           | 6,635         |               |                    | 7,792    |                    |               | 21,357        |  |   | 21,642   |  |
| Accrued capital gains incentive fees(1)                       | $                  | —  |                    |               | $                  | —  |                    |  | $ | —  |  |  | $ | —  |  |

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|                                 |                    |               |                    |           |                    |               |                    |   |   |               |   |  |   |               |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|--------------------|---|---|---------------|---|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |
|                            | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |               | September 30, 2019 |
| Interest expense                | $                  | 2,704    |                    |           | $                  | 6,528    |                    |   | $ | 11,333   |   |  | $ | 19,218   |  |
| Non-usage fee                   | $                  | 395      |                    |           | $                  | 163      |                    |   | $ | 937      |   |  | $ | 449      |  |
| Amortization of financing costs | $                  | 334      |                    |           | $                  | 722      |                    |   | $ | 992      |   |  | $ | 2,103    |  |
| Weighted average interest rate  | 2.2           | %             |                    | 4.2  | %                  |               | 2.7           | % |   | 4.4      | % |
| Effective interest rate         | 2.8           | %             |                    | 4.8  | %                  |               | 3.2           | % |   | 5.0      | % |
| Average debt outstanding        | $                  | 488,815  |                    |           | $                  | 612,851  |                    |   | $ | 551,059  |   |  | $ | 581,881  |  |

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|                                 |                    |               |                    |           |                    |               |                    |   |   |               |   |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|--------------------|---|---|---------------|---|--|---|--------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |
|                            | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |               | September 30, 2019 |
| Interest expense                | $                  | 899      |                    |           | $                  | 1,499    |                    |   | $ | 3,960    |   |  | $ | 3,677   |  |
| Non-usage fee                   | $                  | 55       |                    |           | $                  | 13       |                    |   | $ | 96       |   |  | $ | 103     |  |
| Amortization of financing costs | $                  | 35       |                    |           | $                  | 31       |                    |   | $ | 103      |   |  | $ | 250     |  |
| Weighted average interest rate  | 2.7           | %             |                    | 4.8  | %                  |               | 3.4           | % |   | 4.9      | % |
| Effective interest rate         | 3.0           | %             |                    | 4.9  | %                  |               | 3.6           | % |   | 5.4      | % |
| Average debt outstanding        | $                  | 131,804  |                    |           | $                  | 123,777  |                    |   | $ | 154,974  |   |  | $ | 99,405  |  |

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|                                 |                    |               |                    |           |                    |               |                    |   |   |               |   |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|--------------------|---|---|---------------|---|--|---|--------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |
|                            | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |               | September 30, 2019 |
| Interest expense(1)             | $                  | 1,722    |                    |           | $                  | 1,730    |                    |   | $ | 6,659    |   |  | $ | 3,177   |  |
| Non-usage fee(1)                | $                  | 80       |                    |           | $                  | 62       |                    |   | $ | 177      |   |  | $ | 183     |  |
| Amortization of financing costs | $                  | 161      |                    |           | $                  | 100      |                    |   | $ | 480      |   |  | $ | 256     |  |
| Weighted average interest rate  | 3.2           | %             |                    | 5.1  | %                  |               | 3.8           | % |   | 5.3      | % |
| Effective interest rate         | 3.6           | %             |                    | 5.6  | %                  |               | 4.2           | % |   | 6.0      | % |
| Average debt outstanding        | $                  | 216,761  |                    |           | $                  | 133,913  |                    |   | $ | 233,401  |   |  | $ | 80,095  |  |

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|                                              |  |  |                        |             |  |  |  |
|----------------------------------------------|--|--|------------------------|-------------|--|--|--|
|                                              |  |  | 2018 Convertible Notes |
| Initial conversion premium                   |  |  | 10.0              | %           |
| Initial conversion rate(1)                   |  |  | 65.8762           |             |
| Initial conversion price                     |  |  | $                      | 15.18  |  |
| Conversion premium at September 30, 2020     |  |  | 10.0              | %           |
| Conversion rate at September 30, 2020(1)(2)  |  |  | 65.8762           |             |
| Conversion price at September 30, 2020(2)(3) |  |  | $                      | 15.18  |  |
| Last conversion price calculation date       |  |  | August 20, 2020        |

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|                                 |                    |               |                    |           |                    |               |                    |   |   |               |   |  |   |               |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|--------------------|---|---|---------------|---|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |
|                            | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |               | September 30, 2019 |
| Interest expense                | $                  | 2,893    |                    |           | $                  | 2,893    |                    |   | $ | 8,679    |   |  | $ | 10,066   |  |
| Amortization of financing costs | $                  | 100      |                    |           | $                  | 99       |                    |   | $ | 297      |   |  | $ | 696      |  |
| Amortization of premium         | $                  | (26)          |                    |           | $                  | (26)          |                    |   | $ | (77)          |   |  | $ | (83)          |  |
| Weighted average interest rate  | 5.8           | %             |                    | 5.7  | %                  |               | 5.8           | % |   | 5.5      | % |
| Effective interest rate         | 5.9           | %             |                    | 5.8  | %                  |               | 5.9           | % |   | 5.8      | % |
| Average debt outstanding        | $                  | 201,250  |                    |           | $                  | 201,250  |                    |   | $ | 201,250  |   |  | $ | 245,481  |  |

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|                                 |                    |               |                    |           |                    |               |                       |   |   |               |   |  |   |               |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|-----------------------|---|---|---------------|---|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |
|                            | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |               | September 30, 2019(1) |
| Interest expense                | $                  | 5,960    |                    |           | $                  | 5,959    |                       |   | $ | 17,879   |   |  | $ | 15,763   |  |
| Amortization of financing costs | $                  | 320      |                    |           | $                  | 320      |                       |   | $ | 955      |   |  | $ | 886      |  |
| Weighted average interest rate  | 5.3           | %             |                    | 5.2  | %                  |               | 5.3              | % |   | 5.2      | % |
| Effective interest rate         | 5.5           | %             |                    | 5.5  | %                  |               | 5.5              | % |   | 5.5      | % |
| Average debt outstanding        | $                  | 453,250  |                    |           | $                  | 453,250  |                       |   | $ | 453,250  |   |  | $ | 402,041  |  |

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|                                         |  |                    |  |                       |               |                    |             |                        |   |             |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------|--|--------------------|--|-----------------------|---------------|--------------------|-------------|------------------------|---|-------------|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Issuance Date                      |  | Maturity Date |  | Debenture Amount |               | Interest Rate |             | SBA Annual Charge |
| Fixed SBA-guaranteed debentures(1): |  |               |  |                  |               |               |             |                   |
| March 25, 2015                          |  | March 1, 2025      |  | $                     | 37,500   |                    |             | 2.517             | % |             | 0.355  | % |
| September 23, 2015                      |  | September 1, 2025  |  | 37,500           |               |                    | 2.829  | %                      |   | 0.355  | %           |
| September 23, 2015                      |  | September 1, 2025  |  | 28,795           |               |                    | 2.829  | %                      |   | 0.742  | %           |
| March 23, 2016                          |  | March 1, 2026      |  | 13,950           |               |                    | 2.507  | %                      |   | 0.742  | %           |
| September 21, 2016                      |  | September 1, 2026  |  | 4,000            |               |                    | 2.051  | %                      |   | 0.742  | %           |
| September 20, 2017                      |  | September 1, 2027  |  | 13,000           |               |                    | 2.518  | %                      |   | 0.742  | %           |
| March 21, 2018                          |  | March 1, 2028      |  | 15,255           |               |                    | 3.187  | %                      |   | 0.742  | %           |
| Fixed SBA-guaranteed debentures(2): |  |                    |  |                       |               |                    |             |                        |
| September 19, 2018                      |  | September 1, 2028  |  | 15,000           |               |                    | 3.548  | %                      |   | 0.222  | %           |
| September 25, 2019                      |  | September 1, 2029  |  | 19,000           |               |                    | 2.283  | %                      |   | 0.222  | %           |
| March 25, 2020                          |  | March 1, 2030      |  | 41,000           |               |                    | 2.078  | %                      |   | 0.222  | %           |
| March 25, 2020                          |  | March 1, 2030      |  | 24,000           |               |                    | 2.078  | %                      |   | 0.275  | %           |
| September 23, 2020                      |  | September 1, 2030  |  | 51,000           |               |                    | 1.034  | %                      |   | 0.275  | %           |
| Total SBA-guaranteed debentures         |  |               |  | $                     | 300,000  |                    |             |                   |   |        |

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|                                 |                    |               |                    |           |                    |               |                    |   |   |               |   |  |   |               |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|--------------------|---|---|---------------|---|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |
|                                 | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |               | September 30, 2019 |
| Interest expense                | $                  | 2,080    |                    |           | $                  | 1,455    |                    |   | $ | 5,963    |   |  | $ | 4,159    |  |
| Amortization of financing costs | $                  | 253      |                    |           | $                  | 149      |                    |   | $ | 706      |   |  | $ | 423      |  |
| Weighted average interest rate  | 2.8           | %             |                    | 3.3  | %                  |               | 2.8           | % |   | 3.3      | % |
| Effective interest rate         | 3.1           | %             |                    | 3.6  | %                  |               | 3.2           | % |   | 3.6      | % |
| Average debt outstanding        | $                  | 300,000  |                    |           | $                  | 176,565  |                    |   | $ | 281,102  |   |  | $ | 168,897  |  |

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|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |  |               |   |           |               |  |   |                 |  |  |   |               |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------|-------------------|--|------------|---------------|-----------------------------------|--|---------------------------|--|---------------------------------------------------|---|---------------------------------|---------------|------------------|---|----------------------------|--|-------|---------------|-----------------|--|---------------|---|-----------|---------------|--|---|-----------------|--|--|---|---------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                |                   |  |            |               |                                   |  |                           |  | Accumulated Overdistributed Earnings              |   |                                 |               |                  |   |                            |
|                                                                           | Common Stock |  |            |               | Paid inCapital inExcess |  | AccumulatedNet Investment |  | Accumulated Net Realized (Losses)  |   | Net UnrealizedAppreciation |               | Total Net Assets |   | Non-ControllingInterest in |  | Total |
|                                                                           | Shares            |  | Par Amount |               |                                   |  | of Par               |  | Income                                            |   | Gains                           |               | (Depreciation)   |   | of NMFC                    |  | NMNLC |               | Net Assets |
| Net assets at December 31, 2019                                                | 96,827,342   |  |            | $             | 968                          |  |                           |  |                                                   | $ | 1,287,853                  |               |                  | $ | 91,333                |  |       | $             | (85,448)        |  |               | $ | (11,238)  |               |  | $ | 1,283,468  |  |  | $ | —  |  |  | $ | 1,283,468  |  |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
| Distributions declared                                                         | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | (32,921)      |                  |   | —               |  |       | —  |                 |  | (32,921)      |   |           | —  |  |   | (32,921)        |  |
| Purchase of non-controlling interest in NMNLC                                  | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | —  |                  |   | —               |  |       | —  |                 |  | —  |   |           | 11,315   |  |   | 11,315     |  |
| Net increase (decrease) in net assets resulting from operations | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | 31,305   |                  |   | 114                   |  |       | (203,776)     |                 |  | (172,357)     |   |           | (65)          |  |   | (172,422)       |  |
| Net assets at March 31, 2020                                                   | 96,827,342   |  |            | $             | 968                          |  |                           |  |                                                   | $ | 1,287,853                  |               |                  | $ | 89,717                |  |       | $             | (85,334)        |  |               | $ | (215,014) |               |  | $ | 1,078,190  |  |  | $ | 11,250   |  |  | $ | 1,089,440  |  |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
| Distributions declared                                                         | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | (29,048)      |                  |   | —               |  |       | —  |                 |  | (29,048)      |   |           | (258)         |  |   | (29,306)        |  |
| Net increase (decrease) in net assets resulting from operations | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | 27,327   |                  |   | (3,756)                    |  |       | 52,910   |                 |  | 76,481   |   |           | 251      |  |   | 76,732     |  |
| Net assets at June 30, 2020                                                    | 96,827,342   |  |            | $             | 968                          |  |                           |  |                                                   | $ | 1,287,853                  |               |                  | $ | 87,996                |  |       | $             | (89,090)        |  |               | $ | (162,104) |               |  | $ | 1,125,623  |  |  | $ | 11,243   |  |  | $ | 1,136,866  |  |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
|                                                                                |                   |  |            |               |                                   |  |                           |  |                                                   |   |                                 |               |                  |   |                            |  |       |               |                 |
| Distributions declared                                                         | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | (29,049)      |                  |   | —               |  |       | —  |                 |  | (29,049)      |   |           | (245)         |  |   | (29,294)        |  |
| Net increase (decrease) in net assets resulting from operations | —      |  |            | —  |                                   |  |                           |  | —                                      |   |                                 | 28,779   |                  |   | 47                    |  |       | 59,364   |                 |  | 88,190   |   |           | 1,398    |  |   | 89,588     |  |
| Net assets at September 30, 2020                                               | 96,827,342   |  |            | $             | 968                          |  |                           |  |                                                   | $ | 1,287,853                  |               |                  | $ | 87,726                |  |       | $             | (89,043)        |  |               | $ | (102,740) |               |  | $ | 1,184,764  |  |  | $ | 12,396   |  |  | $ | 1,197,160  |  |

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|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |  |               |               |          |             |              |   |              |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------|-------------------|--|-----------------|---------------|-----------------------------|--|---------------------------|-------------|--------------------------------------|---|---------------------------------|---------------|----------------|---------------|-----------------|--|---------------|---------------|----------|-------------|--------------|---|--------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                |                   |  |                 |               |                             |  |                           |             | Accumulated Overdistributed Earnings |   |                                 |
|                                                                           | Common Stock |  |                 |               | Paid inCapital in |  | AccumulatedNet Investment |             | Accumulated Net Realized        |   | Net UnrealizedAppreciation |               | Total          |
|                                                                           | Shares            |  | Par Amount |               |                             |  | Excess of Par   |             | Income                               |   | (Losses) Gains                  |               | (Depreciation) |               | Net Assets |
| Net assets at December 31, 2018                                                | 76,106,372   |  |                 | $             | 761                    |  |                           |             |                                      | $ | 1,035,629                  |               |                | $             | 61,975     |  |               | $             | (86,338) |             |              | $ | (5,758)      |  |  | $ | 1,006,269  |  |
| Issuances of common stock                                                 | 4,413,058    |  |                 | 44       |                             |  |                           |             | 60,617                          |   |                                 | —  |                |               | —    |  |               | —  |          |             | 60,661  |   |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
| Deferred offering costs                                                        | —      |  |                 | —  |                             |  |                           |             | (229)                                |   |                                 | —  |                |               | —    |  |               | —  |          |             | (229)        |   |
| Distributions declared                                                         | —      |  |                 | —  |                             |  |                           |             | —                         |   |                                 | (27,342)      |                |               | —    |  |               | —  |          |             | (27,342)     |   |
| Net increase in net assets resulting from operations            | —      |  |                 | —  |                             |  |                           |             | —                         |   |                                 | 27,450   |                |               | 46         |  |               | 16,424   |          |             | 43,920  |   |
| Net assets at March 31, 2019                                                   | 80,519,430   |  |                 | $             | 805                    |  |                           |             |                                      | $ | 1,096,017                  |               |                | $             | 62,083     |  |               | $             | (86,292) |             |              | $ | 10,666  |  |  | $ | 1,083,279  |  |
| Issuances of common stock                                                 | 90,872       |  |                 | 1             |                             |  |                           | 1,269  |                                      |   | —                    |               |                | —  |                 |  | —  |               |          | 1,270  |              |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
| Distributions declared                                                         | —      |  |                 | —  |                             |  |                           |             | —                         |   |                                 | (27,377)      |                |               | —    |  |               | —  |          |             | (27,377)     |   |
| Net increase (decrease) in net assets resulting from operations | —      |  |                 | —  |                             |  |                           |             | —                         |   |                                 | 27,948   |                |               | 52         |  |               | (4,255)       |          |             | 23,745  |   |
| Net assets at June 30, 2019                                                    | 80,610,302   |  |                 | $             | 806                    |  |                           |             |                                      | $ | 1,097,286                  |               |                | $             | 62,654     |  |               | $             | (86,240) |             |              | $ | 6,411   |  |  | $ | 1,080,917  |  |
| Issuances of common stock                                                 | 6,958,393    |  |                 | 70       |                             |  |                           |             | 94,910                          |   |                                 | —  |                |               | —    |  |               | —  |          |             | 94,980  |   |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
|                                                                                |                   |  |                 |               |                             |  |                           |             |                                      |   |                                 |               |                |               |                 |
| Deferred offering costs                                                        | —      |  |                 | —  |                             |  |                           |             | (315)                                |   |                                 | —  |                |               | —    |  |               | —  |          |             | (315)        |   |
| Distributions declared                                                         | —      |  |                 | —  |                             |  |                           |             | —                         |   |                                 | (29,753)      |                |               | —    |  |               | —  |          |             | (29,753)     |   |
| Net increase (decrease) in net assets resulting from operations | —      |  |                 | —  |                             |  |                           |             | —                         |   |                                 | 31,170   |                |               | 355        |  |               | (8,075)       |          |             | 23,450  |   |
| Net assets at September 30, 2019                                               | 87,568,695   |  |                 | $             | 876                    |  |                           |             |                                      | $ | 1,191,881                  |               |                | $             | 64,071     |  |               | $             | (85,885) |             |              | $ | (1,664)      |  |  | $ | 1,169,279  |  |

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|                                                                           |                    |              |                    |                   |                    |              |                    |  |   |                  |  |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------|--------------------|--------------|--------------------|-------------------|--------------------|--------------|--------------------|--|---|------------------|--|--|---|--------------|--|--|--|--|--|--|--|--|--|
|                                                                      | Three Months Ended |              | Nine Months Ended  |
|                                                                      | September 30, 2020 |              | September 30, 2019 |                   | September 30, 2020 |              | September 30, 2019 |
| Earnings (loss) per share—basic                                     |               |              |               |                   |               |              |               |
| Numerator for basic earnings (loss) per share:                        | $                  | 88,190  |                    |                   | $                  | 23,450  |                    |  | $ | (7,686)          |  |  | $ | 91,115  |  |
| Denominator for basic weighted average share:                         | 96,827,342    |              |                    | 86,987,841   |                    |              | 96,827,342    |  |   | 82,020,549  |  |
| Basic earnings (loss) per share:                                      | $                  | 0.91    |                    |                   | $                  | 0.27    |                    |  | $ | (0.08)           |  |  | $ | 1.11    |  |
| Earnings (loss) per share—diluted(1)                                |                    |              |                    |                   |               |              |               |
| Numerator for increase (decrease) in net assets per share                 | $                  | 88,190  |                    |                   | $                  | 23,450  |                    |  | $ | (7,686)          |  |  | $ | 91,115  |  |
| Adjustment for interest on Convertible Notes and incentive fees, net | 2,314         |              |                    | 2,314        |                    |              | 6,943         |  |   | 8,053       |  |
| Numerator for diluted earnings (loss) per share:                      | $                  | 90,504  |                    |                   | $                  | 25,764  |                    |  | $ | (743)            |  |  | $ | 99,168  |  |
| Denominator for basic weighted average share                              | 96,827,342    |              |                    | 86,987,841   |                    |              | 96,827,342    |  |   | 82,020,549  |  |
| Adjustment for dilutive effect of Convertible Notes                       | 13,257,585    |              |                    | 13,257,585   |                    |              | 13,257,585    |  |   | 15,927,676  |  |
| Denominator for diluted weighted average share                            | 110,084,927   |              |                    | 100,245,426  |                    |              | 110,084,927   |  |   | 97,948,225  |  |
| Diluted earnings (loss) per share:                                    | $                  | 0.82    |                    |                   | $                  | 0.26    |                    |  | $ | (0.08)           |  |  | $ | 1.01    |  |

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|                                                                                 |                    |                 |                    |                  |   |                 |  |  |  |  |  |
|---------------------------------------------------------------------------------|--------------------|-----------------|--------------------|------------------|---|-----------------|--|--|--|--|--|
|                                                                            | Nine Months Ended  |
|                                                                            | September 30, 2020 |                 | September 30, 2019 |
| Per share data(1):                                                          |               |                 |               |
| Net asset value, January 1, 2020 and January 1, 2019, respectively    | $                  | 13.26      |                    |                  | $ | 13.22      |  |
| Net investment income                                                           | 0.90          |                 |                    | 1.06        |   |
| Net realized and unrealized (losses) gains(2)                                   | (0.98)             |                 |                    | 0.09        |   |
| Total net (decrease) increase                                                   | (0.08)             |                 |                    | 1.15        |   |
| Distributions declared to stockholders from net investment income               | (0.94)             |                 |                    | (1.02)           |   |
| Net asset value, September 30, 2020 and September 30, 2019, respectively   | $                  | 12.24      |                    |                  | $ | 13.35      |  |
| Per share market value, September 30, 2020 and September 30, 2019, respectively | $                  | 9.56       |                    |                  | $ | 13.63      |  |
| Total return based on market value(3)                                           | (22.30)            | %               |                    | 16.60       | % |
| Total return based on net asset value(4)                                        | (0.06)             | %               |                    | 8.86        | % |
| Shares outstanding at end of period                                             | 96,827,342    |                 |                    | 87,568,695  |   |
| Average weighted shares outstanding for the period                              | 96,827,342    |                 |                    | 82,020,549  |   |
| Average net assets for the period                                               | $                  | 1,162,509  |                    |                  | $ | 1,111,191  |  |
| Ratio to average net assets:                                                |               |                 |               |
| Net investment income                                                           | 10.10         | %               |                    | 10.42       | % |
| Total expenses, before waivers/reimbursements                               | 14.78         | %               |                    | 15.10       | % |
| Total expenses, net of waivers/reimbursements                               | 13.52         | %               |                    | 14.04       | % |
| Average debt outstanding—Holdings Credit Facility                         | $                  | 551,059    |                    |                  | $ | 581,881    |  |
| Average debt outstanding—Unsecured Notes                                  | 453,250       |                 |                    | 402,041     |   |
| Average debt outstanding—Convertible Notes                                | 201,250       |                 |                    | 245,481     |   |
| Average debt outstanding—SBA-guaranteed debentures                        | 281,102       |                 |                    | 168,897     |   |
| Average debt outstanding—NMFC Credit Facility                             | 154,974       |                 |                    | 99,405      |   |
| Average debt outstanding—DB Credit Facility                               | 233,401       |                 |                    | 80,095      |   |
| Average debt outstanding—NMNLC Credit Facility                            | —       |                 |                    | 39          |   |
| Asset coverage ratio(5)                                                         | 178.65        | %               |                    | 171.14      | % |
| Portfolio turnover                                                              | 9.12          | %               |                    | 7.63        | % |

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|  |                                                                                                                                                                                   |  |  |  |  |
|--|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|
|  |  Deloitte & Touche LLP 30 Rockefeller PlazaNew York, NY 10112USA Tel:    212 492 4000Fax:   212 489 1687www.deloitte.com |

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|                     |  |               |                 |              |               |               |               |                |  |   |               |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |
|---------------------|--|---------------|-----------------|--------------|---------------|---------------|---------------|----------------|--|---|---------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|
| (in thousands) |  | Total         |                 | Level I |               | Level II |               | Level III |
| First lien          |  | $             | 1,662,653  |              |               | $             | —  |                |  | $ | 167,616  |  |  | $ | 1,495,037  |  |
| Second lien         |  | 689,319  |                 |              | —  |               |               | 93,784    |  |   | 595,535  |  |
| Subordinated        |  | 43,536   |                 |              | —  |               |               | —   |  |   | 43,536   |  |
| Equity and other    |  | 501,115  |                 |              | —  |               |               | —   |  |   | 501,115  |  |
| Total investments   |  | $             | 2,896,623  |              |               | $             | —  |                |  | $ | 261,400  |  |  | $ | 2,635,223  |  |

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|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |         |            |           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------|-------------------------------------|-----------------|----------|------------------------------|------------------------------|------------------------|-----------------|-----------|--------|------------|-----------------|---------|------------|-----------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (in thousands)   |                                     |                 |     |                              |                         |                        | Range           |           |
| Type             | Fair Value as of September 30, 2020 |                 | Approach |                              | Unobservable Input           |                        | Low             |           | High   |            | WeightedAverage |         |
| First lien       | $                                   | 1,438,801  |          |                              | Market & income approach |                        | EBITDA multiple |           | 5.0x   |            | 35.0x           |         | 14.0x      |           |
|                  |                                     |                 |          |                              | Revenue multiple             |                        | 3.5x            |           | 11.0x  |            | 5.9x            |         |
|                  |                                |                 |          |                              | Discount rate                |                        | 4.5        | %         |        | 17.0  | %               |         | 8.3   | %         |  |
|                  | 43,769                         |                 |          | Market quote                 |                              | Broker quote           |                 | N/A   |        | N/A    |                 | N/A |            |
|                  | 12,467                         |                 |          | Other                        |                              | N/A(1)             |                 | N/A   |        | N/A    |                 | N/A |            |
| Second lien      | 531,932                        |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 7.0x      |        | 34.0x      |                 | 15.1x   |            |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |         |
|                  |                                |                 |          |                              | Discount rate                |                        | 6.8        | %         |        | 21.7  | %               |         | 9.5   | %         |  |
|                  | 48,603                         |                 |          | Market quote                 |                              | Broker quote           |                 | N/A   |        | N/A    |                 | N/A |            |
|                  | 15,000                         |                 |          | Other                        |                              | N/A(1)             |                 | N/A   |        | N/A    |                 | N/A |            |
| Subordinated     | 43,536                         |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 9.0x      |        | 15.0x      |                 | 12.0x   |            |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |         |
|                  |                                |                 |          |                              | Discount rate                |                        | 10.2       | %         |        | 35.0  | %               |         | 18.0  | %         |  |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |         |
| Equity and other | 500,257                        |                 |          | Market & income approach |                              | EBITDA multiple        |                 | 6.5x      |        | 19.5x      |                 | 12.6x   |            |
|                  |                                     |                 |          |                              |                              |                        |                 |           |        |            |                 |         |
|                  |                                |                 |          |                              | Discount rate                |                        | 6.0        | %         |        | 47.7  | %               |         | 12.1  | %         |  |
|                  | 700                            |                 |          | Black Scholes analysis       |                              | Expected life in years |                 | 5.5  |        |            | 5.5        |         |            | 5.5  |  |  |
|                  |                                |                 |     |                              | Volatility                   |                        | 52.3       | %         |        | 52.3  | %               |         | 52.3  | %         |  |
|                  |                                |                 |     |                              | Discount rate                |                        | 0.7        | %         |        | 0.7   | %               |         | 0.7   | %         |  |
|                  | 158                            |                 |          | Other                        |                              | N/A(1)             |                 | N/A   |        | N/A    |                 | N/A |            |
|                  | $                                   | 2,635,223  |          |                              |                         |                        |            |           |   |            |            |         |       |           |

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|                                                              |  |                    |               |                   |            |               |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------|--|--------------------|---------------|-------------------|------------|---------------|--|--|--|--|--|--|--|--|
| (in thousands)                                               |  | September 30, 2020 |               | December 31, 2019 |
| First lien investments (1)                                   |  | $                  | 300,199  |                   |            | 351,160  |  |
| Weighted average interest rate on first lien investments (2) |  | 5.11          | %             |                   | 6.29  | %             |
| Number of portfolio companies in SLP II                      |  | 34            |               |                   | 37    |               |
| Largest portfolio company investment (1)                     |  | $                  | 17,322   |                   |            | 17,456   |  |
| Total of five largest portfolio company investments (1)      |  | $                  | 78,225   |                   |            | 78,932   |  |

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|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |               |              |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------|--|-----------------------------------|--|--------------------------------------|--|--------------------|--|-------------------------------------|---------------|----------------|--------------|----------------|---------------|--------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment   |  | Industry                          |  | Interest Rate (1)                    |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost     |              | Fair Value (2) |
| Funded Investments - First lien:       |  |                                   |  |                                      |  |                    |  | (in thousands)                      |               | (in thousands) |              | (in thousands) |
| Access CIG, LLC                            |  | Business Services                 |  |  3.91% (L + 3.75%)              |  | 2/27/2025  |  | $                                   | 4,625    |                |              | $              | 4,609    |              |  | $ | 4,532    |  |
| ADG, LLC                                   |  | Healthcare Services               |  |  6.25 % (L + 2.50% + 2.75% PIK) |  | 9/28/2023  |  | 16,412                         |               |                | 16,335  |                |               | 14,876  |  |
| Advisor Group Holdings, Inc.               |  | Consumer Services                 |  |  5.15% (L + 5.00%)              |  | 7/31/2026  |  | 4,962                          |               |                | 4,920   |                |               | 4,815   |  |
| Bearcat Buyer, Inc.                        |  | Healthcare Services               |  |  5.25% (L + 4.25%)              |  | 7/9/2026   |  | 90                             |               |                | 89      |                |               | 90      |  |
| Bearcat Buyer, Inc.                        |  | Healthcare Services               |  |  5.25% (L + 4.25%)              |  | 7/9/2026   |  | 1,368                          |               |                | 1,363   |                |               | 1,368   |  |
| Bleriot US Bidco Inc.                      |  | Federal Services                  |  |  4.97% (L + 4.75%)              |  | 10/31/2026 |  | 1,345                          |               |                | 1,332   |                |               | 1,335   |  |
| Bleriot US Bidco Inc.                      |  | Federal Services                  |  |  4.97% (L + 4.75%)              |  | 10/30/2026 |  | 8,605                          |               |                | 8,528   |                |               | 8,546   |  |
| Brave Parent Holdings, Inc.                |  | Software                          |  |  4.15% (L + 4.00%)              |  | 4/18/2025  |  | 3,662                          |               |                | 3,652   |                |               | 3,622   |  |
| CentralSquare Technologies, LLC            |  | Software                          |  |  3.90% (L + 3.75%)              |  | 8/29/2025  |  | 14,737                         |               |                | 14,710  |                |               | 13,286  |  |
| CHA Holdings, Inc.                         |  | Business Services                 |  |  5.50% (L + 4.50%)              |  | 4/10/2025  |  | 2,031                          |               |                | 2,023   |                |               | 1,899   |  |
| CHA Holdings, Inc.                         |  | Business Services                 |  |  5.50% (L + 4.50%)              |  | 4/10/2025  |  | 10,615                         |               |                | 10,582  |                |               | 9,925   |  |
| CommerceHub, Inc.                          |  | Software                          |  |  3.65% (L + 3.50%)              |  | 5/21/2025  |  | 2,444                          |               |                | 2,435   |                |               | 2,389   |  |
| Dealer Tire, LLC                           |  | Distribution & Logistics      |  |  4.40% (L + 4.25%)              |  | 12/12/2025 |  | 7,444                          |               |                | 7,427   |                |               | 7,295   |  |
| Drilling Info Holdings, Inc.               |  | Business Services                 |  |  4.40% (L + 4.25%)              |  | 7/30/2025  |  | 14,646                         |               |                | 14,598  |                |               | 14,139  |  |
| Edgewood Partners Holdings LLC             |  | Business Services                 |  |  5.25% (L + 4.25%)              |  | 9/6/2024   |  | 7,375                          |               |                | 7,320   |                |               | 7,117   |  |
| eResearchTechnology, Inc.                  |  | Healthcare Services               |  |  5.50% (L + 4.50%)              |  | 2/4/2027   |  | 3,137                          |               |                | 3,108   |                |               | 3,129   |  |
| Fastlane Parent Company, Inc.              |  | Distribution & Logistics      |  |  4.65% (L + 4.50%)              |  | 2/4/2026   |  | 3,447                          |               |                | 3,392   |                |               | 3,328   |  |
| Greenway Health, LLC                       |  | Software                          |  |  4.75% (L + 3.75%)              |  | 2/16/2024  |  | 14,512                         |               |                | 14,474  |                |               | 12,989  |  |
| Help/Systems Holdings, Inc.            |  | Software                          |  |  5.75% (L + 4.75%)              |  | 11/19/2026 |  | 4,422                          |               |                | 4,382   |                |               | 4,362   |  |
| Institutional Shareholder Services Inc.    |  | Business Services                 |  |  4.72% (L + 4.50%)              |  | 3/5/2026   |  | 13,790                         |               |                | 13,678  |                |               | 13,376  |  |
| Keystone Acquisition Corp.                 |  | Healthcare Services               |  |  6.25% (L + 5.25%)              |  | 5/1/2024   |  | 5,238                          |               |                | 5,208   |                |               | 4,767   |  |
| LSCS Holdings, Inc.                        |  | Healthcare Services               |  |  4.47% (L + 4.25%)              |  | 3/17/2025  |  | 1,870                          |               |                | 1,868   |                |               | 1,776   |  |
| LSCS Holdings, Inc.                        |  | Healthcare Services               |  |  4.47% (L + 4.25%)              |  | 3/17/2025  |  | 7,243                          |               |                | 7,236   |                |               | 6,881   |  |
| Market Track, LLC                          |  | Business Services                 |  |  5.25% (L + 4.25%)              |  | 6/5/2024   |  | 11,610                         |               |                | 11,577  |                |               | 11,432  |  |
| Medical Solutions Holdings, Inc.           |  | Healthcare Services               |  |  5.50% (L + 4.50%)              |  | 6/14/2024  |  | 2,774                          |               |                | 2,766   |                |               | 2,684   |  |
| Ministry Brands, LLC                       |  | Software                          |  |  5.00% (L + 4.00%)              |  | 12/2/2022  |  | 2,078                          |               |                | 2,074   |                |               | 2,059   |  |
| Ministry Brands, LLC                       |  | Software                          |  |  5.00% (L + 4.00%)              |  | 12/2/2022  |  | 873                            |               |                | 871     |                |               | 865     |  |
| Ministry Brands, LLC                       |  | Software                          |  |  5.00% (L + 4.00%)              |  | 12/2/2022  |  | 12,066                         |               |                | 12,039  |                |               | 11,955  |  |
| Peraton Corp. (fka MHVC Acquisition Corp.) |  | Federal Services                  |  |  6.25% (L + 5.25%)              |  | 4/29/2024  |  | 10,159                         |               |                | 10,130  |                |               | 10,083  |  |
| Premise Health Holding Corp.               |  | Healthcare Services               |  |  3.72% (L + 3.50%)              |  | 7/10/2025  |  | 1,362                          |               |                | 1,357   |                |               | 1,318   |  |
| Project Accelerate Parent, LLC             |  | Business Services                 |  |  5.25% (L + 4.25%)              |  | 1/2/2025   |  | 12,450                         |               |                | 12,409  |                |               | 11,329  |  |
| PSC Industrial Holdings Corp.              |  | Industrial Services               |  |  4.98% (L + 3.75%)              |  | 10/11/2024 |  | 3,036                          |               |                | 3,017   |                |               | 2,892   |  |
| Quest Software US Holdings Inc.            |  | Software                          |  |  4.51% (L + 4.25%)              |  | 5/16/2025  |  | 14,737                         |               |                | 14,685  |                |               | 14,467  |  |
| Salient CRGT Inc.                          |  | Federal Services                  |  |  7.50% (L + 6.50%)              |  | 2/28/2022  |  | 12,665                         |               |                | 12,625  |                |               | 12,484  |  |
| Wirepath LLC                               |  | Distribution & Logistics      |  |  4.22% (L + 4.00%)              |  | 8/5/2024   |  | 14,700                         |               |                | 14,700  |                |               | 13,524  |  |
| WP CityMD Bidco LLC                        |  | Healthcare Services               |  |  5.54% (L + 4.50%)              |  | 8/13/2026  |  | 5,432                          |               |                | 5,384   |                |               | 5,413   |  |
| Wrench Group LLC                           |  | Consumer Services                 |  |  4.22% (L + 4.00%)              |  | 4/30/2026  |  | 5,935                          |               |                | 5,883   |                |               | 5,816   |  |
| YI, LLC                                    |  | Healthcare Services               |  |  5.00% (L + 4.00%)              |  | 11/7/2024  |  | 14,687                         |               |                | 14,679  |                |               | 12,851  |  |
| Zelis Cost Management Buyer, Inc.          |  | Healthcare Information Technology |  |  4.90% (L + 4.75%)              |  | 9/30/2026  |  | 4,099                          |               |                | 4,062   |                |               | 4,077   |  |
| Zywave, Inc.                               |  | Software                          |  |  6.00% (L + 5.00%)              |  | 11/17/2022 |  | 16,844                         |               |                | 16,810  |                |               | 16,844  |  |
| Zywave, Inc.                               |  | Software                          |  |  6.00% (L + 5.00%)              |  | 11/17/2022 |  | 478                            |               |                | 474     |                |               | 478     |  |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
| Total Funded Investments                   |  |                                   |  |                                      |  |                    |  | $                                   | 300,005  |                |              | $              | 298,811  |              |  | $ | 286,413  |  |
| Unfunded Investments - First lien:     |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
| Bearcat Buyer, Inc.                        |  | Healthcare Services               |  | —                              |  | 7/9/2021   |  | $                                   | 194      |                |              | $              | (1)           |              |  | $ | —  |  |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
|                                            |  |                                   |  |                                      |  |                    |  |                                     |               |                |              |                |
| Total Unfunded Investments                 |  |                                   |  |                                      |  |                    |  | $                                   | 194      |                |              | $              | (1)           |              |  | $ | —  |  |
| Total Investments                          |  |                                   |  |                                      |  |                    |  | $                                   | 300,199  |                |              | $              | 298,810  |              |  | $ | 286,413  |  |

|  |  |  |
|--|--|--|
|  |

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Table of Contents

|                                                             |  |                              |  |                                     |  |                    |  |                                     |               |                |               |                |               |               |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|------------------------------|--|-------------------------------------|--|--------------------|--|-------------------------------------|---------------|----------------|---------------|----------------|---------------|---------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                    |  | Industry                     |  | Interest Rate (1)                   |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost     |               | Fair Value (2) |
| Funded Investments - First lien                             |  |                              |  |                                     |  |                    |  | (in thousands)                      |               | (in thousands) |               | (in thousands) |
| Access CIG, LLC                                             |  | Business Services            |  |  5.44% (L + 3.75%)             |  | 2/27/2025  |  | $                                   | 9,833    |                |               | $              | 9,794    |               |  | $ | 9,841    |  |
| ADG, LLC                                                    |  | Healthcare Services          |  |  7.17% (L + 4.75% + 0.50% PIK) |  | 9/28/2023  |  | 16,074                         |               |                | 15,980   |                |               | 15,813   |  |
| Advisor Group Holdings, Inc.                                |  | Consumer Services            |  |  6.80% (L + 5.00%)             |  | 7/31/2026  |  | 5,000                          |               |                | 4,952    |                |               | 4,972    |  |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  |  6.19% (L + 4.25%)             |  | 7/9/2026   |  | 1,379                          |               |                | 1,372    |                |               | 1,372    |  |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  |  6.19% (L + 4.25%)             |  | 7/9/2026   |  | 90                             |               |                | 90       |                |               | 90       |  |
| Bleriot US Bidco Inc.                                       |  | Federal Services             |  |  6.69% (L + 4.75%)             |  | 10/30/2026 |  | 8,649                          |               |                | 8,563    |                |               | 8,746    |  |
| Brave Parent Holdings, Inc.                                 |  | Software                     |  |  5.93% (L + 4.00%)             |  | 4/18/2025  |  | 15,267                         |               |                | 15,222   |                |               | 15,045   |  |
| CentralSquare Technologies, LLC                             |  | Software                     |  |  5.55% (L + 3.75%)             |  | 8/29/2025  |  | 14,850                         |               |                | 14,819   |                |               | 14,231   |  |
| CHA Holdings, Inc.                                          |  | Business Services            |  |  6.44% (L + 4.50%)             |  | 4/10/2025  |  | 10,697                         |               |                | 10,658   |                |               | 10,683   |  |
| CHA Holdings, Inc.                                          |  | Business Services            |  |  6.44% (L + 4.50%)             |  | 4/10/2025  |  | 2,047                          |               |                | 2,037    |                |               | 2,044    |  |
| CommerceHub, Inc.                                           |  | Software                     |  |  5.30% (L + 3.50%)             |  | 5/21/2025  |  | 2,463                          |               |                | 2,453    |                |               | 2,432    |  |
| Drilling Info Holdings, Inc.                                |  | Business Services            |  |  6.05% (L + 4.25%)             |  | 7/30/2025  |  | 14,758                         |               |                | 14,703   |                |               | 14,696   |  |
| Edgewood Partners Holdings LLC                              |  | Business Services            |  |  6.05% (L + 4.25%)             |  | 9/6/2024   |  | 7,432                          |               |                | 7,367    |                |               | 7,413    |  |
| Explorer Holdings, Inc.                                     |  | Healthcare Services          |  |  6.26% (L + 4.50%)             |  | 11/20/2026 |  | 3,145                          |               |                | 3,113    |                |               | 3,171    |  |
| Fastlane Parent Company, Inc.                               |  | Distribution & Logistics |  |  6.44% (L + 4.50%)             |  | 2/4/2026   |  | 3,474                          |               |                | 3,411    |                |               | 3,448    |  |
| Greenway Health, LLC                                        |  | Software                     |  |  5.69% (L + 3.75%)             |  | 2/16/2024  |  | 14,625                         |               |                | 14,578   |                |               | 13,053   |  |
| Help/Systems Holdings, Inc.                             |  | Software                     |  |  6.55% (L + 4.75%)             |  | 11/19/2026 |  | 4,444                          |               |                | 4,400    |                |               | 4,428    |  |
| Idera, Inc.                                                 |  | Software                     |  |  6.30% (L + 4.50%)             |  | 6/28/2024  |  | 4,446                          |               |                | 4,417    |                |               | 4,449    |  |
| Institutional Shareholder Services Inc.                     |  | Business Services            |  |  6.44% (L + 4.50%)             |  | 3/5/2026   |  | 13,895                         |               |                | 13,769   |                |               | 13,687   |  |
| Keystone Acquisition Corp.                                  |  | Healthcare Services          |  |  7.19% (L + 5.25%)             |  | 5/1/2024   |  | 5,278                          |               |                | 5,243    |                |               | 5,173    |  |
| LSCS Holdings, Inc.                                         |  | Healthcare Services          |  |  6.31% (L + 4.25%)             |  | 3/17/2025  |  | 7,298                          |               |                | 7,290    |                |               | 7,225    |  |
| LSCS Holdings, Inc.                                         |  | Healthcare Services          |  |  6.31% (L + 4.25%)             |  | 3/17/2025  |  | 1,884                          |               |                | 1,882    |                |               | 1,865    |  |
| Market Track, LLC                                           |  | Business Services            |  |  6.18% (L + 4.25%)             |  | 6/5/2024   |  | 11,700                         |               |                | 11,660   |                |               | 10,530   |  |
| MediaOcean, LLC                                             |  | Software                     |  |  5.80% (L + 4.00%)             |  | 8/18/2025  |  | 7,392                          |               |                | 7,372    |                |               | 7,410    |  |
| Medical Solutions Holdings, Inc.                            |  | Healthcare Services          |  |  6.30% (L + 4.50%)             |  | 6/14/2024  |  | 2,795                          |               |                | 2,786    |                |               | 2,791    |  |
| Ministry Brands, LLC                                        |  | Software                     |  |  5.85% (L + 4.00%)             |  | 12/2/2022  |  | 12,160                         |               |                | 12,124   |                |               | 12,160   |  |
| Ministry Brands, LLC                                        |  | Software                     |  |  5.85% (L + 4.00%)             |  | 12/2/2022  |  | 2,095                          |               |                | 2,089    |                |               | 2,095    |  |
| Ministry Brands, LLC                                        |  | Software                     |  |  5.85% (L + 4.00%)             |  | 12/2/2022  |  | 880                            |               |                | 877      |                |               | 880      |  |
| NorthStar Financial Services Group, LLC                     |  | Software                     |  |  5.30% (L + 3.50%)             |  | 5/25/2025  |  | 5,885                          |               |                | 5,861    |                |               | 5,789    |  |
| Peraton Corp. (fka MHVC Acquisition Corp.)                  |  | Federal Services             |  |  7.05% (L + 5.25%)             |  | 4/29/2024  |  | 10,237                         |               |                | 10,203   |                |               | 10,193   |  |
| Premise Health Holding Corp.                                |  | Healthcare Services          |  |  5.44% (L + 3.50%)             |  | 7/10/2025  |  | 1,372                          |               |                | 1,367    |                |               | 1,358    |  |
| Project Accelerate Parent, LLC                              |  | Business Services            |  |  5.99% (L + 4.25%)             |  | 1/2/2025   |  | 13,545                         |               |                | 13,494   |                |               | 13,511   |  |
| PSC Industrial Holdings Corp.                               |  | Industrial Services          |  |  5.49% (L + 3.75%)             |  | 10/11/2024 |  | 7,305                          |               |                | 7,252    |                |               | 7,269    |  |
| Quest Software US Holdings Inc.                             |  | Software                     |  |  6.18% (L + 4.25%)             |  | 5/16/2025  |  | 14,850                         |               |                | 14,790   |                |               | 14,739   |  |
| Salient CRGT Inc.                                           |  | Federal Services             |  |  8.29% (L + 6.50%)             |  | 2/28/2022  |  | 13,134                         |               |                | 13,071   |                |               | 12,510   |  |
| Spring Education Group, Inc. (fka SSH Group Holdings, Inc.) |  | Education                    |  |  6.19% (L + 4.25%)             |  | 7/30/2025  |  | 716                            |               |                | 715      |                |               | 721      |  |
| Wirepath LLC                                                |  | Distribution & Logistics |  |  5.94% (L + 4.00%)             |  | 8/5/2024   |  | 14,813                         |               |                | 14,813   |                |               | 12,886   |  |
| WP CityMD Bidco LLC                                         |  | Healthcare Services          |  |  6.44% (L + 4.50%)             |  | 8/13/2026  |  | 15,000                         |               |                | 14,855   |                |               | 15,038   |  |
| Wrench Group LLC                                            |  | Consumer Services            |  |  6.19% (L + 4.25%)             |  | 4/30/2026  |  | 4,478                          |               |                | 4,435    |                |               | 4,488    |  |
| YI, LLC                                                     |  | Healthcare Services          |  |  5.94% (L + 4.00%)             |  | 11/7/2024  |  | 14,801                         |               |                | 14,791   |                |               | 13,839   |  |
| Zelis Cost Management Buyer, Inc.                           |  | Healthcare I.T.              |  |  6.55% (L + 4.75%)             |  | 9/30/2026  |  | 10,363                         |               |                | 10,261   |                |               | 10,427   |  |
| Zywave, Inc.                                                |  | Software                     |  |  6.93% (L + 5.00%)             |  | 11/17/2022 |  | 16,975                         |               |                | 16,930   |                |               | 16,975   |  |
| Zywave, Inc.                                                |  | Software                     |  |  6.84% (L + 5.00%)             |  | 11/17/2022 |  | 481                            |               |                | 477      |                |               | 481      |  |
| Total Funded Investments                                    |  |                              |  |                                     |  |                    |  | $                                   | 348,005  |                |               | $              | 346,336  |               |  | $ | 339,967  |  |
| Unfunded Investments - First lien                           |  |                              |  |                                     |  |                    |  |                                     |               |                |               |                |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  | —                             |  | 7/9/2021   |  | $                                   | 194      |                |               | $              | (1)           |               |  | $ | (1)           |  |
| Bleriot US Bidco Inc.                                       |  | Federal Services             |  | —                             |  | 10/31/2020 |  | 1,351                          |               |                | (14)          |                |               | 15       |  |
| Premise Health Holding Corp.                                |  | Healthcare Services          |  | —                             |  | 7/10/2020  |  | 110                            |               |                | —  |                |               | —  |  |
| Wrench Group LLC                                            |  | Consumer Services            |  | —                             |  | 4/30/2021  |  | $                                   | 1,500    |                |               | $              | —  |               |  | $ | 4        |  |
| Total Unfunded Investments                                  |  |                              |  |                                     |  |                    |  | 3,155                          |               |                | (15)          |                |               | 18       |  |

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Table of Contents

|                                          |  |          |  |                   |  |               |  |                                     |               |            |  |                |               |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|----------|--|-------------------|--|---------------|--|-------------------------------------|---------------|------------|--|----------------|---------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment |  | Industry |  | Interest Rate (1) |  | Maturity Date |  |  Principal Amount or Par Value |               |  Cost |  | Fair Value (2) |
| Total Investments                        |  |          |  |                   |  |               |  | $                                   | 351,160  |            |  | $              | 346,321  |  |  | $ | 339,985  |  |

|  |  |  |
|--|--|--|
|  |

|                                                                         |                    |               |                   |               |   |               |  |  |  |  |  |
|-------------------------------------------------------------------------|--------------------|---------------|-------------------|---------------|---|---------------|--|--|--|--|--|
| Selected Balance Sheet Information:                                 | September 30, 2020 |               | December 31, 2019 |
|                                                                         | (in thousands)     |               | (in thousands)    |
| Investments at fair value (cost of $298,810 and $346,321, respectively) | $                  | 286,413  |                   |               | $ | 339,985  |  |
|                                                                         |                    |               |                   |
| Cash and other assets                                                   | 8,838         |               |                   | 8,159    |   |
| Total assets                                                            | $                  | 295,251  |                   |               | $ | 348,144  |  |
|                                                                         |                    |               |                   |
| Credit facility                                                         | $                  | 204,470  |                   |               | $ | 246,870  |  |
| Deferred financing costs                                                | (758)              |               |                   | (1,408)       |   |
| Distribution payable                                                    | 2,550         |               |                   | 3,250    |   |
| Payable for unsettled securities purchased                              | —       |               |                   | 3,113    |   |
| Other liabilities                                                       | 1,201         |               |                   | 2,367    |   |
| Total liabilities                                                       | 207,463       |               |                   | 254,192  |   |
|                                                                         |                    |               |                   |
| Members' capital                                                        | $                  | 87,788   |                   |               | $ | 93,952   |  |
| Total liabilities and members' capital                                  | $                  | 295,251  |                   |               | $ | 348,144  |  |

|                                                                     |                    |             |                    |               |                    |             |                    |  |   |              |  |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--------------------|-------------|--------------------|---------------|--------------------|-------------|--------------------|--|---|--------------|--|--|---|--------------|--|--|--|--|--|--|--|--|--|
| Selected Statement of Operations Information:                   | Three Months Ended |             | Nine Months Ended  |
|                                                                     | September 30, 2020 |             | September 30, 2019 |               | September 30, 2020 |             | September 30, 2019 |
|                                                                     | (in thousands)     |             | (in thousands)     |               | (in thousands)     |             | (in thousands)     |
| Interest income                                                     | $                  | 4,174  |                    |               | $                  | 6,013  |                    |  | $ | 14,153  |  |  | $ | 18,581  |  |
| Other income                                                        | —       |             |                    | 31       |                    |             | 70            |  |   | 89      |  |
| Total investment income                                             | 4,174         |             |                    | 6,044    |                    |             | 14,223        |  |   | 18,670  |  |
|                                                                     |                    |             |                    |               |                    |             |                    |
| Interest and other financing expenses                               | 1,190         |             |                    | 2,745    |                    |             | 4,696         |  |   | 8,484   |  |
| Other expenses                                                      | 98            |             |                    | 129      |                    |             | 360           |  |   | 408     |  |
| Total expenses                                                      | 1,288         |             |                    | 2,874    |                    |             | 5,056         |  |   | 8,892   |  |
| Less: expenses waived and reimbursed                            | —       |             |                    | —  |                    |             | —       |  |   | (20)         |  |
| Net expenses                                                        | 1,288         |             |                    | 2,874    |                    |             | 5,056         |  |   | 8,872   |  |
| Net investment income                                               | 2,886         |             |                    | 3,170    |                    |             | 9,167         |  |   | 9,798   |  |
|                                                                     |                    |             |                    |               |                    |             |                    |
| Net realized gains (losses) on investments                          | 3             |             |                    | 116      |                    |             | (803)              |  |   | 377     |  |
| Net change in unrealized appreciation (depreciation) of investments | 6,988         |             |                    | (2,371)       |                    |             | (6,061)            |  |   | (1,311)      |  |
| Net increase in members' capital                                    | $                  | 9,877  |                    |               | $                  | 915    |                    |  | $ | 2,303   |  |  | $ | 8,864   |  |
|                                                                     |                    |             |                    |               |                    |             |                    |

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Table of Contents

|                                                              |  |                    |               |                   |            |               |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------|--|--------------------|---------------|-------------------|------------|---------------|--|--|--|--|--|--|--|--|
| (in thousands)                                               |  | September 30, 2020 |               | December 31, 2019 |
| First lien investments (1)                                   |  | $                  | 554,145  |                   |            | 493,787  |  |
| Weighted average interest rate on first lien investments (2) |  | 4.63          | %             |                   | 5.95  | %             |
| Number of portfolio companies in SLP III                     |  | 58            |               |                   | 49    |               |
| Largest portfolio company investment (1)                     |  | $                  | 23,787   |                   |            | 23,947   |  |
| Total of five largest portfolio company investments (1)      |  | $                  | 99,403   |                   |            | 99,906   |  |

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Table of Contents

|                                                                   |  |                              |  |                         |  |                    |  |                                     |           |                 |              |                 |           |              |  |   |           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------|--|------------------------------|--|-------------------------|--|--------------------|--|-------------------------------------|-----------|-----------------|--------------|-----------------|-----------|--------------|--|---|-----------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                          |  | Industry                     |  | Interest Rate (1)       |  | Maturity Date      |  |  Principal Amount or Par Value |           |  Cost      |              | Fair Value (2)  |
| Funded Investments - First lien                                   |  |                              |  |                         |  |                    |  | ( in thousands)                     |           | ( in thousands) |              | ( in thousands) |
| Access CIG, LLC                                                   |  | Business Services            |  |  3.91% (L + 3.75%) |  | 2/27/2025  |  | $                                   | 870  |                 |              | $               | 870  |              |  | $ | 852  |  |
| Advisor Group Holdings, Inc.                                      |  | Consumer Services            |  |  5.15% (L + 5.00%) |  | 7/31/2026  |  | 4,963                          |           |                 | 4,920   |                 |           | 4,815   |  |
| Affordable Care Holding Corp.                                     |  | Healthcare Services          |  |  5.75% (L + 4.75%) |  | 10/24/2022 |  | 5,917                          |           |                 | 5,858   |                 |           | 5,605   |  |
| AG Parent Holdings, LLC                                           |  | Healthcare Services          |  |  5.15% (L + 5.00%) |  | 7/31/2026  |  | 12,406                         |           |                 | 12,353  |                 |           | 12,220  |  |
| Ascensus Specialties LLC                                          |  | Business Services            |  |  4.91% (L + 4.75%) |  | 9/24/2026  |  | 9,925                          |           |                 | 9,881   |                 |           | 9,578   |  |
| Aston FinCo S.a.r.l. / Aston US Finco, LLC                    |  | Software                     |  |  4.40% (L + 4.25%) |  | 10/9/2026  |  | 5,970                          |           |                 | 5,917   |                 |           | 5,895   |  |
| Astra Acquisition Corp.                                           |  | Software                     |  |  6.50% (L + 5.50%) |  | 3/1/2027   |  | 11,519                         |           |                 | 11,438  |                 |           | 11,577  |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  4.15% (L + 4.00%) |  | 6/11/2026  |  | 9,098                          |           |                 | 9,021   |                 |           | 8,916   |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  4.15% (L + 4.00%) |  | 6/11/2026  |  | 1,430                          |           |                 | 1,421   |                 |           | 1,401   |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  5.25% (L + 4.25%) |  | 7/9/2026   |  | 19,703                         |           |                 | 19,619  |                 |           | 19,703  |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  5.25% (L + 4.25%) |  | 7/9/2026   |  | 1,292                          |           |                 | 1,287   |                 |           | 1,292   |  |
| Bleriot US Bidco Inc.                                             |  | Federal Services             |  |  4.97% (L + 4.75%) |  | 10/31/2026 |  | 4,303                          |           |                 | 4,264   |                 |           | 4,273   |  |
| Bleriot US Bidco Inc.                                             |  | Federal Services             |  |  4.97% (L + 4.75%) |  | 10/31/2026 |  | 672                            |           |                 | 666     |                 |           | 668     |  |
| Bluefin Holding, LLC                                              |  | Software                     |  |  4.15% (L + 4.00%) |  | 9/4/2026   |  | 9,925                          |           |                 | 9,795   |                 |           | 9,925   |  |
| Bracket Intermediate Holding Corp.                                |  | Healthcare Services          |  |  4.55% (L + 4.25%) |  | 9/5/2025   |  | 14,700                         |           |                 | 14,645  |                 |           | 14,443  |  |
| Brave Parent Holdings, Inc.                                       |  | Software                     |  |  4.15% (L + 4.00%) |  | 4/18/2025  |  | 11,246                         |           |                 | 11,217  |                 |           | 11,123  |  |
| CentralSquare Technologies, LLC                                   |  | Software                     |  |  3.90% (L + 3.75%) |  | 8/29/2025  |  | 14,738                         |           |                 | 14,710  |                 |           | 13,286  |  |
| Certara Holdco, Inc.                                              |  | Healthcare I.T.              |  |  3.72% (L + 3.50%) |  | 8/15/2024  |  | 1,249                          |           |                 | 1,252   |                 |           | 1,236   |  |
| CHA Holdings, Inc.                                                |  | Business Services            |  |  5.50% (L + 4.50%) |  | 4/10/2025  |  | 980                            |           |                 | 980     |                 |           | 916     |  |
| CommerceHub, Inc.                                                 |  | Software                     |  |  3.65% (L + 3.50%) |  | 5/21/2025  |  | 14,663                         |           |                 | 14,611  |                 |           | 14,333  |  |
| Covenant Surgical Partners, Inc.                                  |  | Healthcare Services          |  |  4.16% (L + 4.00%) |  | 7/1/2026   |  | 9,900                          |           |                 | 9,816   |                 |           | 9,133   |  |
| CRCI Longhorn Holdings, Inc.                                      |  | Business Services            |  |  3.64% (L + 3.50%) |  | 8/8/2025   |  | 14,700                         |           |                 | 14,646  |                 |           | 14,228  |  |
| Dealer Tire, LLC                                                  |  | Distribution & Logistics |  |  4.40% (L + 4.25%) |  | 12/12/2025 |  | 9,925                          |           |                 | 9,902   |                 |           | 9,727   |  |
| Dentalcorp Health Services ULC (fka Dentalcorp Perfect Smile ULC) |  | Healthcare Services          |  |  4.75% (L + 3.75%) |  | 6/6/2025   |  | 14,673                         |           |                 | 14,647  |                 |           | 13,921  |  |
| Drilling Info Holdings, Inc.                                      |  | Business Services            |  |  4.40% (L + 4.25%) |  | 7/30/2025  |  | 18,624                         |           |                 | 18,555  |                 |           | 17,980  |  |
| Edgewood Partners Holdings LLC                                    |  | Business Services            |  |  5.25% (L + 4.25%) |  | 9/6/2024   |  | 7,375                          |           |                 | 7,320   |                 |           | 7,117   |  |
| eResearchTechnology, Inc.                                         |  | Healthcare Services          |  |  5.50% (L + 4.50%) |  | 2/4/2027   |  | 3,921                          |           |                 | 3,885   |                 |           | 3,912   |  |
| EyeCare Partners, LLC                                             |  | Healthcare Services          |  |  3.90% (L + 3.75%) |  | 2/18/2027  |  | 12,101                         |           |                 | 12,087  |                 |           | 11,448  |  |
| Fastlane Parent Company, Inc.                                     |  | Distribution & Logistics |  |  4.65% (L + 4.50%) |  | 2/4/2026   |  | 3,448                          |           |                 | 3,392   |                 |           | 3,328   |  |
| Greenway Health, LLC                                              |  | Software                     |  |  4.75% (L + 3.75%) |  | 2/16/2024  |  | 14,557                         |           |                 | 14,565  |                 |           | 13,029  |  |
| Heartland Dental, LLC                                             |  | Healthcare Services          |  |  3.65% (L + 3.50%) |  | 4/30/2025  |  | 18,588                         |           |                 | 18,522  |                 |           | 17,199  |  |
| Help/Systems Holdings, Inc.                                   |  | Software                     |  |  5.75% (L + 4.75%) |  | 11/19/2026 |  | 18,486                         |           |                 | 18,311  |                 |           | 18,232  |  |
| Idera, Inc.                                                       |  | Software                     |  |  5.00% (L + 4.00%) |  | 6/28/2024  |  | 5,529                          |           |                 | 5,509   |                 |           | 5,467   |  |
| Institutional Shareholder Services Inc.                           |  | Business Services            |  |  4.72% (L + 4.50%) |  | 3/5/2026   |  | 985                            |           |                 | 977     |                 |           | 955     |  |
| Kestra Advisor Services Holdings A, Inc.                          |  | Business Services            |  |  4.40% (L + 4.25%) |  | 6/3/2026   |  | 9,405                          |           |                 | 9,338   |                 |           | 9,240   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  4.47% (L + 4.25%) |  | 3/17/2025  |  | 2,634                          |           |                 | 2,618   |                 |           | 2,502   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  4.47% (L + 4.25%) |  | 3/17/2025  |  | 680                            |           |                 | 676     |                 |           | 646     |  |
| Market Track, LLC                                                 |  | Business Services            |  |  5.25% (L + 4.25%) |  | 6/5/2024   |  | 4,741                          |           |                 | 4,737   |                 |           | 4,668   |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 8/31/2026  |  | 10,298                         |           |                 | 10,214  |                 |           | 9,818   |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 8/31/2026  |  | 1,807                          |           |                 | 1,792   |                 |           | 1,723   |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.00% (L + 4.00%) |  | 12/2/2022  |  | 4,514                          |           |                 | 4,502   |                 |           | 4,472   |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.00% (L + 4.00%) |  | 12/2/2022  |  | 873                            |           |                 | 871     |                 |           | 865     |  |
| National Intergovernmental Purchasing Alliance Company            |  | Business Services            |  |  3.97% (L + 3.75%) |  | 5/23/2025  |  | 8,724                          |           |                 | 8,720   |                 |           | 8,571   |  |
| National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.)      |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 3/9/2026   |  | 8,901                          |           |                 | 8,901   |                 |           | 8,823   |  |
| National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.)      |  | Healthcare Services          |  |  4.40% (L + 4.25%) |  | 3/9/2026   |  | 406                            |           |                 | 406     |                 |           | 403     |  |
| Navex Topco, Inc.                                                 |  | Software                     |  |  3.40% (L + 3.25%) |  | 9/5/2025   |  | 18,255                         |           |                 | 18,118  |                 |           | 17,844  |  |
| Navicure, Inc.                                                    |  | Healthcare Services          |  |  4.75% (L + 4.00%) |  | 10/22/2026 |  | 4,118                          |           |                 | 4,107   |                 |           | 4,035   |  |
| Netsmart Technologies, Inc.                                       |  | Healthcare I.T.              |  |  6.00% (P + 2.75%) |  | 4/19/2023  |  | 10,250                         |           |                 | 10,250  |                 |           | 10,250  |  |
| Newport Group Holdings II, Inc.                                   |  | Business Services            |  |  3.72% (L + 3.50%) |  | 9/12/2025  |  | 4,900                          |           |                 | 4,882   |                 |           | 4,722   |  |
| Orion Advisor Solutions, Inc.                                     |  | Business Services            |  |  5.00% (L + 4.00%) |  | 9/24/2027  |  | 5,250                          |           |                 | 5,198   |                 |           | 5,219   |  |
| Outcomes Group Holdings, Inc.                                     |  | Healthcare Services          |  |  3.47% (L + 3.25%) |  | 10/24/2025 |  | 3,409                          |           |                 | 3,402   |                 |           | 3,341   |  |

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Table of Contents

|                                                             |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |               |               |  |     |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|------------------------------|--|-------------------------------------|--|--------------------|--|-------------------------------------|---------------|------------|---------------|----------------|---------------|---------------|--|-----|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                    |  | Industry                     |  | Interest Rate (1)                   |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost |               | Fair Value (2) |
| Pelican Products, Inc.                                      |  | Business Products            |  |  4.50% (L + 3.50%)             |  | 5/1/2025   |  | 4,888                          |               |            | 4,879    |                |               | 4,688    |  |
| Peraton Corp. (fka MHVC Acquisition Corp.)                  |  | Federal Services             |  |  6.25% (L + 5.25%)             |  | 4/29/2024  |  | 15,312                         |               |            | 15,262   |                |               | 15,197   |  |
| Premise Health Holding Corp.                                |  | Healthcare Services          |  |  3.72% (L + 3.50%)             |  | 7/10/2025  |  | 13,619                         |               |            | 13,569   |                |               | 13,177   |  |
| Project Accelerate Parent, LLC                              |  | Business Services            |  |  5.25% (L + 4.25%)             |  | 1/2/2025   |  | 9,848                          |               |            | 9,809    |                |               | 8,962    |  |
| Quest Software US Holdings Inc.                             |  | Software                     |  |  4.51% (L + 4.25%)             |  | 5/16/2025  |  | 14,737                         |               |            | 14,685   |                |               | 14,467   |  |
| Ryan Specialty Group, LLC                                   |  | Business Services            |  |  4.00% (L + 3.25%)             |  | 9/1/2027   |  | 3,500                          |               |            | 3,448    |                |               | 3,483    |  |
| Sierra Enterprises, LLC                                     |  | Food & Beverage          |  |  5.00% (L + 4.00%)             |  | 11/11/2024 |  | 2,437                          |               |            | 2,435    |                |               | 2,255    |  |
| Spring Education Group, Inc. (fka SSH Group Holdings, Inc.) |  | Education                    |  |  4.47% (L + 4.25%)             |  | 7/30/2025  |  | 12,214                         |               |            | 12,193   |                |               | 11,580   |  |
| TIBCO Software Inc.                                         |  | Software                     |  |  3.90% (L + 3.75%)             |  | 6/30/2026  |  | 7,673                          |               |            | 7,655    |                |               | 7,500    |  |
| Unitek Acquisition, Inc.                                    |  | Business Services            |  |  7.50% (L + 5.50% + 1.00% PIK) |  | 8/20/2024  |  | 3,325                          |               |            | 2,700    |                |               | 2,975    |  |
| Unitek Acquisition, Inc.                                    |  | Business Services            |  |  7.50% (L + 5.50% + 1.00% PIK) |  | 8/20/2024  |  | 665                            |               |            | 540      |                |               | 595      |  |
| Wirepath LLC                                                |  | Distribution & Logistics |  |  4.22% (L + 4.00%)             |  | 8/5/2024   |  | 17,170                         |               |            | 17,171   |                |               | 15,798   |  |
| WP CityMD Bidco LLC                                         |  | Healthcare Services          |  |  5.50% (L + 4.50%)             |  | 8/13/2026  |  | 19,918                         |               |            | 19,744   |                |               | 19,852   |  |
| VT Topco, Inc.                                              |  | Business Services            |  |  3.40% (L + 3.25%)             |  | 8/1/2025   |  | 2,802                          |               |            | 2,802    |                |               | 2,676    |  |
| YI, LLC                                                     |  | Healthcare Services          |  |  5.00% (L + 4.00%)             |  | 11/7/2024  |  | 9,716                          |               |            | 9,710    |                |               | 8,501    |  |
| Total Funded Investments                                    |  |                              |  |                                     |  |                    |  | $                                   | 545,370  |            |               | $              | 542,193  |               |  | $   | 526,581  |  |
|                                                             |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |
| Unfunded Investments - First lien                           |  |                              |  |                                     |  |                    |  |                                     |               |            |               |                |
| BCPE Empire Holdings, Inc.                                  |  | Distribution & Logistics |  | —                             |  | 6/11/2021  |  | $                                   | 369      |            |               | $              | (4)           |               |  | (7) |               |
| Bearcat Buyer, Inc.                                         |  | Healthcare Services          |  | —                             |  | 7/9/2021   |  | 2,792                          |               |            | (14)          |                |               | —  |  |
| Covenant Surgical Partners, Inc.                            |  | Healthcare Services          |  | —                             |  | 7/1/2021   |  | 2,000                          |               |            | (20)          |                |               | (155)         |  |
| EyeCare Partners, LLC                                       |  | Healthcare Services          |  | —                             |  | 2/18/2022  |  | 2,838                          |               |            | —  |                |               | (153)         |  |
| MED ParentCo, LP                                            |  | Healthcare Services          |  | —                             |  | 8/27/2021  |  | 776                            |               |            | (8)           |                |               | (36)          |  |
| Total Unfunded Investments                                  |  |                              |  |                                     |  |                    |  | $                                   | 8,775    |            |               | $              | (46)          |               |  | $   | (351)         |  |
| Total Investments                                           |  |                              |  |                                     |  |                    |  | $                                   | 554,145  |            |               | $              | 542,147  |               |  | $   | 526,230  |  |

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Table of Contents

|                                                                   |  |                              |  |                         |  |                    |  |                                     |             |                |              |                |             |              |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------|--|------------------------------|--|-------------------------|--|--------------------|--|-------------------------------------|-------------|----------------|--------------|----------------|-------------|--------------|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment                          |  | Industry                     |  | Interest Rate (1)       |  | Maturity Date      |  |  Principal Amount or Par Value |             |  Cost     |              | Fair Value (2) |
| Funded Investments - First lien                                   |  |                              |  |                         |  |                    |  | (in thousands)                      |             | (in thousands) |              | (in thousands) |
| Access CIG, LLC                                                   |  | Business Services            |  |  5.44% (L + 3.75%) |  | 2/27/2025  |  | $                                   | 1,204  |                |              | $              | 1,204  |              |  | $ | 1,205  |  |
| Advisor Group Holdings, Inc.                                      |  | Consumer Services            |  |  6.80% (L + 5.00%) |  | 7/31/2026  |  | 5,000                          |             |                | 4,952   |                |             | 4,972   |  |
| Affordable Care Holding Corp.                                     |  | Healthcare Services          |  |  6.59% (L + 4.75%) |  | 10/24/2022 |  | 5,963                          |             |                | 5,884   |                |             | 5,814   |  |
| AG Parent Holdings, LLC                                           |  | Healthcare Services          |  |  6.91% (L + 5.00%) |  | 7/31/2026  |  | 12,500                         |             |                | 12,440  |                |             | 12,406  |  |
| Aston FinCo S.a r.l. / Aston US Finco, LLC                    |  | Software                     |  |  6.26% (L + 4.25%) |  | 10/9/2026  |  | 6,000                          |             |                | 5,941   |                |             | 5,970   |  |
| Ascensus Specialties LLC                                          |  | Business Services            |  |  6.44% (L + 4.75%) |  | 9/24/2026  |  | 10,000                         |             |                | 9,951   |                |             | 9,975   |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  5.80% (L + 4.00%) |  | 6/11/2026  |  | 9,167                          |             |                | 9,080   |                |             | 9,224   |  |
| BCPE Empire Holdings, Inc.                                        |  | Distribution & Logistics |  |  5.80% (L + 4.00%) |  | 6/11/2026  |  | 229                            |             |                | 243     |                |             | 231     |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  6.19% (L + 4.25%) |  | 7/9/2026   |  | 19,853                         |             |                | 19,759  |                |             | 19,753  |  |
| Bearcat Buyer, Inc.                                               |  | Healthcare Services          |  |  6.19% (L + 4.25%) |  | 7/9/2026   |  | 1,302                          |             |                | 1,296   |                |             | 1,296   |  |
| Bleriot US Bidco Inc.                                             |  | Federal Services             |  |  6.69% (L + 4.75%) |  | 10/30/2026 |  | 4,324                          |             |                | 4,281   |                |             | 4,373   |  |
| Bluefin Holding, LLC                                              |  | Software                     |  |  6.14% (L + 4.25%) |  | 9/4/2026   |  | 10,000                         |             |                | 9,855   |                |             | 9,900   |  |
| Bracket Intermediate Holding Corp.                                |  | Healthcare Services          |  |  6.35% (L + 4.25%) |  | 9/5/2025   |  | 14,813                         |             |                | 14,750  |                |             | 14,775  |  |
| Brave Parent Holdings, Inc.                                       |  | Software                     |  |  5.93% (L + 4.00%) |  | 4/18/2025  |  | 14,775                         |             |                | 14,732  |                |             | 14,560  |  |
| CentralSquare Technologies, LLC                                   |  | Software                     |  |  5.55% (L + 3.75%) |  | 8/29/2025  |  | 14,850                         |             |                | 14,819  |                |             | 14,231  |  |
| Certara Holdco, Inc.                                              |  | Healthcare I.T.              |  |  5.44% (L + 3.50%) |  | 8/15/2024  |  | 1,262                          |             |                | 1,266   |                |             | 1,262   |  |
| CHA Holdings, Inc.                                                |  | Business Services            |  |  6.44% (L + 4.50%) |  | 4/10/2025  |  | 987                            |             |                | 987     |                |             | 986     |  |
| CommerceHub, Inc.                                                 |  | Software                     |  |  5.30% (L + 3.50%) |  | 5/21/2025  |  | 14,775                         |             |                | 14,716  |                |             | 14,590  |  |
| Covenant Surgical Partners, Inc.                                  |  | Healthcare Services          |  |  5.69% (L + 4.00%) |  | 7/1/2026   |  | 9,975                          |             |                | 9,881   |                |             | 9,913   |  |
| CRCI Longhorn Holdings, Inc.                                      |  | Business Services            |  |  5.19% (L + 3.50%) |  | 8/8/2025   |  | 14,813                         |             |                | 14,751  |                |             | 14,414  |  |
| Dentalcorp Health Services ULC (fka Dentalcorp Perfect Smile ULC) |  | Healthcare Services          |  |  5.55% (L + 3.75%) |  | 6/6/2025   |  | 14,786                         |             |                | 14,755  |                |             | 14,737  |  |
| Drilling Info Holdings, Inc.                                      |  | Business Services            |  |  6.05% (L + 4.25%) |  | 7/30/2025  |  | 18,766                         |             |                | 18,688  |                |             | 18,688  |  |
| Edgewood Partners Holdings LLC                                    |  | Business Services            |  |  6.05% (L + 4.25%) |  | 9/6/2024   |  | 7,432                          |             |                | 7,367   |                |             | 7,413   |  |
| Explorer Holdings, Inc.                                           |  | Healthcare Services          |  |  6.25% (L + 4.50%) |  | 11/20/2026 |  | 3,931                          |             |                | 3,892   |                |             | 3,964   |  |
| Fastlane Parent Company, Inc.                                     |  | Distribution & Logistics |  |  6.44% (L + 4.50%) |  | 2/4/2026   |  | 3,474                          |             |                | 3,411   |                |             | 3,448   |  |
| Greenway Health, LLC                                              |  | Software                     |  |  5.69% (L + 3.75%) |  | 2/16/2024  |  | 14,670                         |             |                | 14,679  |                |             | 13,093  |  |
| Heartland Dental, LLC                                             |  | Healthcare Services          |  |  5.55% (L + 3.75%) |  | 4/30/2025  |  | 18,317                         |             |                | 18,243  |                |             | 18,248  |  |
| Help/Systems Holdings, Inc.                                   |  | Software                     |  |  6.55% (L + 4.75%) |  | 11/19/2026 |  | 5,556                          |             |                | 5,500   |                |             | 5,535   |  |
| Idera, Inc.                                                       |  | Software                     |  |  6.30% (L + 4.50%) |  | 6/28/2024  |  | 5,572                          |             |                | 5,548   |                |             | 5,576   |  |
| Institutional Shareholder Services Inc.                           |  | Business Services            |  |  6.44% (L + 4.50%) |  | 3/5/2026   |  | 993                            |             |                | 983     |                |             | 978     |  |
| Kestra Advisor Services Holdings A, Inc.                          |  | Business Services            |  |  6.20% (L + 4.25%) |  | 6/3/2026   |  | 9,476                          |             |                | 9,402   |                |             | 9,477   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  6.31% (L + 4.25%) |  | 3/17/2025  |  | 2,654                          |             |                | 2,634   |                |             | 2,627   |  |
| LSCS Holdings, Inc.                                               |  | Healthcare Services          |  |  6.31% (L + 4.25%) |  | 3/17/2025  |  | 685                            |             |                | 680     |                |             | 678     |  |
| Market Track, LLC                                                 |  | Business Services            |  |  6.18% (L + 4.25%) |  | 6/5/2024   |  | 4,778                          |             |                | 4,773   |                |             | 4,300   |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  6.05% (L + 4.25%) |  | 8/31/2026  |  | 10,376                         |             |                | 10,282  |                |             | 10,402  |  |
| MED ParentCo, LP                                                  |  | Healthcare Services          |  |  6.05% (L + 4.25%) |  | 8/31/2026  |  | 553                            |             |                | 549     |                |             | 554     |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.85% (L + 4.00%) |  | 12/2/2022  |  | 4,549                          |             |                | 4,534   |                |             | 4,549   |  |
| Ministry Brands, LLC                                              |  | Software                     |  |  5.85% (L + 4.00%) |  | 12/2/2022  |  | 880                            |             |                | 877     |                |             | 880     |  |
| National Intergovernmental Purchasing Alliance Company            |  | Business Services            |  |  5.69% (L + 3.75%) |  | 5/23/2025  |  | 8,790                          |             |                | 8,786   |                |             | 8,790   |  |
| Navex Topco, Inc.                                                 |  | Software                     |  |  5.05% (L + 3.25%) |  | 9/5/2025   |  | 18,394                         |             |                | 18,237  |                |             | 18,448  |  |
| Netsmart Technologies, Inc.                                       |  | Healthcare I.T.              |  |  5.55% (L + 3.75%) |  | 4/19/2023  |  | 10,330                         |             |                | 10,330  |                |             | 10,308  |  |
| Newport Group Holdings II, Inc.                                   |  | Business Services            |  |  5.65% (L + 3.75%) |  | 9/12/2025  |  | 4,938                          |             |                | 4,917   |                |             | 4,950   |  |
| NorthStar Financial Services Group, LLC                           |  | Software                     |  |  5.30% (L + 3.50%) |  | 5/25/2025  |  | 11,770                         |             |                | 11,723  |                |             | 11,579  |  |
| Outcomes Group Holdings, Inc.                                     |  | Healthcare Services          |  |  5.41% (L + 3.50%) |  | 10/24/2025 |  | 6,435                          |             |                | 6,421   |                |             | 6,344   |  |
| Pelican Products, Inc.                                            |  | Business Products            |  |  5.24% (L + 3.50%) |  | 5/1/2025   |  | 4,925                          |             |                | 4,915   |                |             | 4,531   |  |
| Peraton Corp. (fka MHVC Acquisition Corp.)                        |  | Federal Services             |  |  7.05% (L + 5.25%) |  | 4/29/2024  |  | 15,430                         |             |                | 15,371  |                |             | 15,363  |  |
| Premise Health Holding Corp.                                      |  | Healthcare Services          |  |  5.44% (L + 3.50%) |  | 7/10/2025  |  | 13,723                         |             |                | 13,666  |                |             | 13,580  |  |
| Project Accelerate Parent, LLC                                    |  | Business Services            |  |  5.99% (L + 4.25%) |  | 1/2/2025   |  | 9,924                          |             |                | 9,878   |                |             | 9,899   |  |
| Quest Software US Holdings Inc.                                   |  | Software                     |  |  6.18% (L + 4.25%) |  | 5/16/2025  |  | 14,850                         |             |                | 14,790  |                |             | 14,739  |  |
| Sierra Enterprises, LLC                                           |  | Food & Beverage          |  |  5.80% (L + 4.00%) |  | 11/11/2024 |  | 2,456                          |             |                | 2,454   |                |             | 2,447   |  |
| Spring Education Group, Inc. (fka SSH Group Holdings, Inc.)       |  | Education                    |  |  6.19% (L + 4.25%) |  | 7/30/2025  |  | 14,812                         |             |                | 14,782  |                |             | 14,905  |  |
| Wirepath LLC                                                      |  | Distribution & Logistics |  |  5.94% (L + 4.00%) |  | 8/5/2024   |  | 17,302                         |             |                | 17,302  |                |             | 15,053  |  |
| WP CityMD Bidco LLC                                               |  | Healthcare Services          |  |  6.44% (L + 4.50%) |  | 8/13/2026  |  | 20,069                         |             |                | 19,875  |                |             | 20,119  |  |

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|                                          |  |                              |  |                         |  |                    |  |                                     |               |            |               |                |               |         |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|------------------------------|--|-------------------------|--|--------------------|--|-------------------------------------|---------------|------------|---------------|----------------|---------------|---------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company and Type of Investment |  | Industry                     |  | Interest Rate (1)       |  | Maturity Date      |  |  Principal Amount or Par Value |               |  Cost |               | Fair Value (2) |
| YI, LLC                                  |  | Healthcare Services          |  |  5.94% (L + 4.00%) |  | 11/7/2024  |  | $                                   | 9,791    |            |               | $              | 9,784    |         |  | $ | 9,155    |  |
| Total Funded Investments                 |  |                              |  |                         |  |                    |  | $                                   | 483,179  |            |               | $              | 480,816  |         |  | $ | 475,207  |  |
| Unfunded Investments - First lien        |  |                              |  |                         |  |                    |  |                                     |               |            |               |                |
| BCPE Empire Holdings, Inc.               |  | Distribution & Logistics |  | —                 |  | 6/11/2021  |  | $                                   | 1,580    |            |               | $              | (16)          |         |  | $ | 10       |  |
| Bearcat Buyer, Inc.                      |  | Healthcare Services          |  | —                 |  | 7/9/2021   |  | 2,792                          |               |            | (14)          |                |               | (14)    |  |
| Bleriot US Bidco Inc.                    |  | Federal Services             |  | —                 |  | 10/31/2020 |  | 676                            |               |            | (7)           |                |               | 8  |  |
| Covenant Surgical Partners, Inc.         |  | Healthcare Services          |  | —                 |  | 7/1/2021   |  | 2,000                          |               |            | (20)          |                |               | (13)    |  |
| Heartland Dental, LLC                    |  | Healthcare Services          |  | —                 |  | 4/30/2020  |  | 413                            |               |            | —  |                |               | (2)     |  |
| MED ParentCo, LP                         |  | Healthcare Services          |  | —                 |  | 8/27/2021  |  | 2,044                          |               |            | (20)          |                |               | 5  |  |
| Premise Health Holding Corp.             |  | Healthcare Services          |  | —                 |  | 7/10/2020  |  | 1,103                          |               |            | (3)           |                |               | (3)     |  |
| Total Unfunded Investments               |  |                              |  |                         |  |                    |  | $                                   | 10,608   |            |               | $              | (80)          |         |  | $ | (9)           |  |
| Total Investments                        |  |                              |  |                         |  |                    |  | $                                   | 493,787  |            |               | $              | 480,736  |         |  | $ | 475,198  |  |

|  |  |  |
|--|--|--|
|  |

|                                                           |                    |               |                   |               |   |               |  |  |  |  |  |
|-----------------------------------------------------------|--------------------|---------------|-------------------|---------------|---|---------------|--|--|--|--|--|
| Selected Balance Sheet Information:                   | September 30, 2020 |               | December 31, 2019 |
|                                                           | (in thousands)     |               | (in thousands)    |
| Investments at fair value (cost of $542,147 and $480,736) | $                  | 526,230  |                   |               | $ | 475,198  |  |
| Cash and other assets                                     | 14,005        |               |                   | 12,836   |   |
| Receivable from unsettled securities sold                 | 2,385         |               |                   | —  |   |
| Total assets                                              | $                  | 542,620  |                   |               | $ | 488,034  |  |
|                                                           |                    |               |                   |
| Credit facility                                           | $                  | 395,200  |                   |               | $ | 355,400  |  |
| Deferred financing costs                                  | (2,322)            |               |                   | (2,385)       |   |
| Payable for unsettled securities purchased                | 9,384         |               |                   | 8,166    |   |
| Distribution payable                                      | 4,000         |               |                   | 3,650    |   |
| Other liabilities                                         | 2,396         |               |                   | 3,736    |   |
| Total liabilities                                         | 408,658       |               |                   | 368,567  |   |
|                                                           |                    |               |                   |
| Members' capital                                          | $                  | 133,962  |                   |               | $ | 119,467  |  |
| Total liabilities and members' capital                    | $                  | 542,620  |                   |               | $ | 488,034  |  |

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|                                                                     |                    |              |                    |               |                    |             |                    |  |   |              |  |  |   |              |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--------------------|--------------|--------------------|---------------|--------------------|-------------|--------------------|--|---|--------------|--|--|---|--------------|--|--|--|--|--|--|--|--|--|
| Selected Statement of Operations Information:                   | Three Months Ended |              | Nine Months Ended  |
|                                                                     | September 30, 2020 |              | September 30, 2019 |               | September 30, 2020 |             | September 30, 2019 |
|                                                                     | (in thousands)     |              | (in thousands)     |               | (in thousands)     |             | (in thousands)     |
| Interest income                                                     | $                  | 6,490   |                    |               | $                  | 7,268  |                    |  | $ | 20,826  |  |  | $ | 19,828  |  |
| Other income                                                        | 75            |              |                    | 122      |                    |             | 320           |  |   | 270     |  |
| Total investment income                                             | 6,565         |              |                    | 7,390    |                    |             | 21,146        |  |   | 20,098  |  |
|                                                                     |                    |              |                    |               |                    |             |                    |
| Interest and other financing expenses                               | 2,516         |              |                    | 3,770    |                    |             | 9,593         |  |   | 10,511  |  |
| Other expenses                                                      | 250           |              |                    | 166      |                    |             | 571           |  |   | 469     |  |
| Total expenses                                                      | 2,766         |              |                    | 3,936    |                    |             | 10,164        |  |   | 10,980  |  |
| Less: expenses waived and reimbursed                            | —       |              |                    | —  |                    |             | —       |  |   | (22)         |  |
| Net expenses                                                        | 2,766         |              |                    | 3,936    |                    |             | 10,164        |  |   | 10,958  |  |
| Net investment income                                               | 3,799         |              |                    | 3,454    |                    |             | 10,982        |  |   | 9,140   |  |
|                                                                     |                    |              |                    |               |                    |             |                    |
| Net realized (losses) gains on investments                          | (82)               |              |                    | 100      |                    |             | (78)               |  |   | 170     |  |
| Net change in unrealized appreciation (depreciation) of investments | 14,775        |              |                    | (1,800)       |                    |             | (10,379)           |  |   | 1,855   |  |
| Net increase in members' capital                                    | $                  | 18,492  |                    |               | $                  | 1,754  |                    |  | $ | 525     |  |  | $ | 11,165  |  |

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|                                          |  |                                    |  |                    |  |             |  |                |  |                    |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|------------------------------------|--|--------------------|--|-------------|--|----------------|--|--------------------|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                          |  |                                    |  | Lease              |  |             |  | Total          |  | Fair Value as of   |
| Portfolio Company                        |  | Tenant                             |  | Expiration Date    |  | Location    |  | Square Feet    |  | September 30, 2020 |
|                                          |  |                                    |  |                    |  |             |  | (in thousands) |  | (in thousands)     |
| NM NL Holdings LP / NM GP Holdco LLC |  | Various                            |  | Various            |  | Various     |  | Various        |  | $                  | 50,085   |  |
| NM GLCR LP                               |  | Arctic Glacier U.S.A.              |  | 2/28/2038  |  | CA          |  | 214            |  | 26,464        |               |
| NM CLFX LP                               |  | Victor Equipment Company           |  | 8/31/2033  |  | TX          |  | 423            |  | 12,677        |               |
| NM APP Canada, Corp.                     |  | A.P. Plasman, Inc.                 |  | 9/30/2031  |  | Canada      |  | 436            |  | 11,100        |               |
| NM DRVT LLC                              |  | FMH Conveyors, LLC                 |  | 10/31/2031 |  | AR          |  | 195            |  | 6,980         |               |
| NM APP US LLC                            |  | Plasman Corp, LLC / A-Brite LP |  | 9/30/2033  |  | AL / OH |  | 261            |  | 6,886         |               |
| NM YI, LLC                               |  | Young Innovations, Inc.            |  | 10/31/2039 |  | IL / MO |  | 212            |  | 6,175         |               |
| NM JRA LLC                               |  | J.R. Automation Technologies, LLC  |  | 1/31/2031  |  | MI          |  | 88             |  | 3,784         |               |
| NM KRLN LLC                              |  | None                               |  | N/A            |  | MD          |  | 95             |  | 940           |               |
|                                          |  |                                    |  |                    |  |             |  |                |  | $                  | 125,091  |  |

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|                        |                          |               |               |           |            |                 |             |               |   |               |            |   |             |   |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------|--------------------------|---------------|---------------|-----------|------------|-----------------|-------------|---------------|---|---------------|------------|---|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
| (in millions)     | As of September 30, 2020 |
| Investment Rating |                          | Cost          |               | Percent   |            | Fair Value |             | Percent       |
| Investment Rating 1    |                          | $             | 212.1    |           |            | 7.1        | %           |               | $ | 213.0    |            |   | 7.3    | % |
| Investment Rating 2    |                          | 2,425.3  |               |           | 80.6  | %               |             | 2,444.5  |   |               | 83.8  | % |
| Investment Rating 3    |                          | 216.5         |               | 7.2  | %          |                 | 174.4  |               |   | 6.0      | %          |
| Investment Rating 4    |                          | 154.4    |               |           | 5.1   | %               |             | 86.1     |   |               | 2.9   | % |
|                   |                          | $             | 3,008.3  |           |            | 100.0      | %           |               | $ | 2,918.1  |            |   | 100.0  | % |

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Table of Contents

|                    |                               |               |               |         |            |                 |   |               |   |               |            |   |             |   |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------|-------------------------------|---------------|---------------|---------|------------|-----------------|---|---------------|---|---------------|------------|---|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
| (in millions) | As of September 30, 2020 |
| Risk Rating   |                               | Cost          |               | Percent |            | Fair Value |   | Percent       |
| Red                |                               | $             | 96.6     |         |            | 3.2        | % |               | $ | 66.4     |            |   | 2.3    | % |
| Orange             |                               | 250.9    |               |         | 8.4   | %               |   | 183.7    |   |               | 6.3   | % |
| Yellow             |                               | 238.8    |               |         | 7.9   | %               |   | 214.2    |   |               | 7.3   | % |
| Green              |                               | 2,422.0  |               |         | 80.5  | %               |   | 2,453.7  |   |               | 84.1  | % |
|               |                               | $             | 3,008.3  |         |            | 100.0      | % |               | $ | 2,918.0  |            |   | 100.0  | % |

|                                                                                  |  |                    |             |                    |             |   |             |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------|--|--------------------|-------------|--------------------|-------------|---|-------------|--|--|--|--|--|--|--|
|                                                                             |  | Nine Months Ended  |
| (in millions)                                                               |  | September 30, 2020 |             | September 30, 2019 |
| New investments in 25 and 52 portfolio companies, respectively                   |  | $                  | 272.8  |                    |             | $ | 827.6  |  |
| Debt repayments in existing portfolio companies                                  |  | 277.2         |             |                    | 141.6  |   |
| Sales of securities in 16 and 7 portfolio companies, respectively                |  | 214.5         |             |                    | 66.2   |   |
| Change in unrealized appreciation on 41 and 46 portfolio companies, respectively |  | 21.8          |             |                    | 41.7   |   |
| Change in unrealized depreciation on 75 and 66 portfolio companies, respectively |  | (113.0)            |             |                    | (36.4)      |   |

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Table of Contents

|                         |  |                    |              |                    |              |   |              |  |  |  |  |  |  |  |
|-------------------------|--|--------------------|--------------|--------------------|--------------|---|--------------|--|--|--|--|--|--|--|
|                    |  | Three Months Ended |
| (in thousands)     |  | September 30, 2020 |              | September 30, 2019 |
| Total interest income   |  | $                  | 49,654  |                    |              | $ | 55,220  |  |
| Total dividend income   |  | 12,644        |              |                    | 13,270  |   |
| Other income            |  | 3,223         |              |                    | 4,104   |   |
| Total investment income |  | $                  | 65,521  |                    |              | $ | 72,594  |  |

|                                           |  |                    |              |                    |               |   |              |  |  |  |  |  |  |  |
|-------------------------------------------|--|--------------------|--------------|--------------------|---------------|---|--------------|--|--|--|--|--|--|--|
|                                      |  | Three Months Ended |
| (in thousands)                       |  | September 30, 2020 |              | September 30, 2019 |
| Management fee                            |  | $                  | 12,877  |                    |               | $ | 12,687  |  |
| Less: management fee waiver           |  | (2,841)            |              |                    | (3,141)       |   |
| Total management fee                      |  | 10,036        |              |                    | 9,546    |   |
| Incentive fee                             |  | 7,135         |              |                    | 7,792    |   |
| Less: incentive fee waiver            |  | (500)              |              |                    | —  |   |
| Total incentive fee                       |  | 6,635         |              |                    | 7,792    |   |
|                                           |  |                    |              |                    |
| Interest and other financing expenses     |  | 18,077        |              |                    | 21,830   |   |
| Administrative expenses                   |  | 1,024         |              |                    | 930      |   |
| Professional fees                         |  | 731           |              |                    | 834      |   |
| Other general and administrative expenses |  | 442           |              |                    | 492      |   |
| Total expenses                            |  | 36,945        |              |                    | 41,424   |   |
| Less: expenses waived and reimbursed  |  | (589)              |              |                    | —  |   |
| Net expenses before income taxes          |  | 36,356        |              |                    | 41,424   |   |
| Income tax expense                        |  | 123           |              |                    | —  |   |
| Net expenses after income taxes           |  | $                  | 36,479  |                    |               | $ | 41,424  |  |

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Table of Contents

|                                                                                                      |  |                    |              |                    |           |   |           |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------|--|--------------------|--------------|--------------------|-----------|---|-----------|--|--|--|--|--|--|--|
|                                                                                                 |  | Three Months Ended |
| (in thousands)                                                                                  |  | September 30, 2020 |              | September 30, 2019 |
| Net realized gains on investments                                                                    |  | $                  | 47      |                    |           | $ | 355  |  |
| Net change in unrealized appreciation (depreciation) of investments                                  |  | 60,242        |              |                    | (7,024)   |   |
| Net change in unrealized depreciation securities purchased under collateralized agreements to resell |  | —       |              |                    | (1,332)   |   |
| Benefit for taxes                                                                                    |  | 257           |              |                    | 281  |   |
| Net realized and unrealized gains (losses)                                                           |  | $                  | 60,546  |                    |           | $ | (7,720)   |  |

|                         |  |                    |               |                    |              |   |               |  |  |  |  |  |  |  |
|-------------------------|--|--------------------|---------------|--------------------|--------------|---|---------------|--|--|--|--|--|--|--|
|                    |  | Nine Months Ended  |
| (in thousands)     |  | September 30, 2020 |               | September 30, 2019 |
| Total interest income   |  | $                  | 162,653  |                    |              | $ | 154,779  |  |
| Total dividend income   |  | 35,353        |               |                    | 39,338  |   |
| Other income            |  | 7,566         |               |                    | 9,133   |   |
| Total investment income |  | $                  | 205,572  |                    |              | $ | 203,250  |  |

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Table of Contents

|                                           |  |                    |               |                    |               |   |               |  |  |  |  |  |  |  |
|-------------------------------------------|--|--------------------|---------------|--------------------|---------------|---|---------------|--|--|--|--|--|--|--|
|                                      |  | Nine Months Ended  |
| (in thousands)                       |  | September 30, 2020 |               | September 30, 2019 |
| Management fee                            |  | $                  | 39,869   |                    |               | $ | 35,302   |  |
| Less: management fee waiver           |  | (9,567)            |               |                    | (8,497)       |   |
| Total management fee                      |  | 30,302        |               |                    | 26,805   |   |
| Incentive fee                             |  | 21,857        |               |                    | 21,642   |   |
| Less: incentive fee waiver            |  | (500)              |               |                    | —  |   |
| Total incentive fee                       |  | 21,357        |               |                    | 21,642   |   |
|                                           |  |                    |               |                    |
| Interest and other financing expenses     |  | 59,500        |               |                    | 61,695   |   |
| Administrative expenses                   |  | 3,303         |               |                    | 3,074    |   |
| Professional fees                         |  | 2,605         |               |                    | 2,486    |   |
| Other general and administrative expenses |  | 1,383         |               |                    | 1,302    |   |
| Total expenses                            |  | 118,450       |               |                    | 117,004  |   |
| Less: expenses waived and reimbursed  |  | (924)              |               |                    | (335)         |   |
| Net expenses before income taxes          |  | 117,526       |               |                    | 116,669  |   |
| Income tax expense                        |  | 116           |               |                    | 13       |   |
| Net expenses after income taxes           |  | $                  | 117,642  |                    |               | $ | 116,682  |  |

|                                                                                                      |  |                    |          |                    |             |   |             |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------|--|--------------------|----------|--------------------|-------------|---|-------------|--|--|--|--|--|--|--|
|                                                                                                 |  | Nine Months Ended  |
| (in thousands)                                                                                  |  | September 30, 2020 |          | September 30, 2019 |
| Net realized (losses) gains on investments                                                           |  | $                  | (3,595)  |                    |             | $ | 453    |  |
| Net change in unrealized (depreciation) appreciation of investments                                  |  | (91,215)           |          |                    | 5,305  |   |
| Net change in unrealized depreciation securities purchased under collateralized agreements to resell |  | —       |          |                    | (1,332)     |   |
| Benefit for taxes                                                                                    |  | 778           |          |                    | 121    |   |
| Net realized and unrealized (losses) gains                                                           |  | $                  | (94,032) |                    |             | $ | 4,547  |  |

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|                                 |                    |             |                    |           |                    |             |                    |   |   |             |   |  |   |             |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|-------------|--------------------|-----------|--------------------|-------------|--------------------|---|---|-------------|---|--|---|-------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |             | Nine Months Ended  |
| (in millions)              | September 30, 2020 |             | September 30, 2019 |           | September 30, 2020 |             | September 30, 2019 |
| Interest expense                | $                  | 2.7    |                    |           | $                  | 6.5    |                    |   | $ | 11.3   |   |  | $ | 19.2   |  |
| Non-usage fee                   | $                  | 0.4    |                    |           | $                  | 0.1    |                    |   | $ | 0.9    |   |  | $ | 0.4    |  |
| Amortization of financing costs | $                  | 0.3    |                    |           | $                  | 0.7    |                    |   | $ | 1.0    |   |  | $ | 2.1    |  |
| Weighted average interest rate  | 2.2           | %           |                    | 4.2  | %                  |             | 2.7           | % |   | 4.4    | % |
| Effective interest rate         | 2.8           | %           |                    | 4.8  | %                  |             | 3.2           | % |   | 5.0    | % |
| Average debt outstanding        | $                  | 488.8  |                    |           | $                  | 612.9  |                    |   | $ | 551.1  |   |  | $ | 581.9  |  |

|                                 |                    |               |                    |           |                    |               |                    |     |   |             |   |  |   |            |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|---------------|--------------------|-----|---|-------------|---|--|---|------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |          | Nine Months Ended  |
| (in millions)              | September 30, 2020 |          | September 30, 2019 |      | September 30, 2020 |               | September 30, 2019 |
| Interest expense                | $                  | 0.9      |                    |           | $                  | 1.5      |                    |     | $ | 4.0    |   |  | $ | 3.7   |  |
| Non-usage fee                   | $                  | 0.1      |                    |           | $                  | —  |                    | (1) | $ | 0.1    |   |  | $ | 0.1   |  |
| Amortization of financing costs | $                  | —  |                    | (2)       | $                  | 0.1      |                    |     | $ | 0.1    |   |  | $ | 0.3   |  |
| Weighted average interest rate  | 2.7           | %             |                    | 4.8  | %                  |               | 3.4           | %   |   | 4.9    | % |
| Effective interest rate         | 3.0           | %             |                    | 4.9  | %                  |               | 3.6           | %   |   | 5.4    | % |
| Average debt outstanding        | $                  | 131.8    |                    |           | $                  | 123.8    |                    |     | $ | 155.0  |   |  | $ | 99.4  |  |

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|                                 |                    |             |                    |           |                    |             |                    |   |   |             |   |  |   |            |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|-------------|--------------------|-----------|--------------------|-------------|--------------------|---|---|-------------|---|--|---|------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |             | Nine Months Ended  |
| (in millions)              | September 30, 2020 |             | September 30, 2019 |           | September 30, 2020 |             | September 30, 2019 |
| Interest expense(1)             | $                  | 1.8    |                    |           | $                  | 1.8    |                    |   | $ | 6.7    |   |  | $ | 3.2   |  |
| Non-usage fee(1)                | $                  | 0.1    |                    |           | $                  | 0.1    |                    |   | $ | 0.2    |   |  | $ | 0.2   |  |
| Amortization of financing costs | $                  | 0.2    |                    |           | $                  | 0.1    |                    |   | $ | 0.5    |   |  | $ | 0.3   |  |
| Weighted average interest rate  | 3.2           | %           |                    | 5.1  | %                  |             | 3.8           | % |   | 5.3    | % |
| Effective interest rate         | 3.6           | %           |                    | 5.6  | %                  |             | 4.2           | % |   | 6.0    | % |
| Average debt outstanding        | $                  | 216.8  |                    |           | $                  | 133.9  |                    |   | $ | 233.4  |   |  | $ | 80.1  |  |

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|                                              |  |  |                        |             |  |  |  |
|----------------------------------------------|--|--|------------------------|-------------|--|--|--|
|                                              |  |  | 2018 Convertible Notes |
| Initial conversion premium                   |  |  | 10.0              | %           |
| Initial conversion rate(1)                   |  |  | 65.8762           |             |
| Initial conversion price                     |  |  | $                      | 15.18  |  |
| Conversion premium at September 30, 2020     |  |  | 10.0              | %           |
| Conversion rate at September 30, 2020(1)(2)  |  |  | 65.8762           |             |
| Conversion price at September 30, 2020(2)(3) |  |  | $                      | 15.18  |  |
| Last conversion price calculation date       |  |  | August 20, 2020        |

|  |  |  |
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|  |

|                                 |                    |               |                    |           |                    |             |                    |   |     |             |   |       |   |             |   |       |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|---------------|--------------------|-----------|--------------------|-------------|--------------------|---|-----|-------------|---|-------|---|-------------|---|-------|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |               | Nine Months Ended  |           |
| (in millions)              | September 30, 2020 |               | September 30, 2019 |           | September 30, 2020 |             | September 30, 2019 |   |
| Interest expense                | $                  | 2.9      |                    |           | $                  | 2.9    |                    |   | $   | 8.7    |   |       | $ | 10.1   |   |       |
| Amortization of financing costs | $                  | 0.1      |                    |           | $                  | 0.1    |                    |   | $   | 0.3    |   |       | $ | 0.7    |   |       |
| Amortization of premium         | $                  | —  |                    | (1)       |                    | $           | —       |   | (1) |             | $ | (0.1) |   |             | $ | (0.1) |  |  |
| Weighted average interest rate  | 5.8           | %             |                    | 5.7  | %                  |             | 5.8           | % |     | 5.5    | % |       |
| Effective interest rate         | 5.9           | %             |                    | 5.8  | %                  |             | 5.9           | % |     | 5.8    | % |       |
| Average debt outstanding        | $                  | 201.3    |                    |           | $                  | 201.3  |                    |   | $   | 201.3  |   |       | $ | 245.5  |   |       |

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|                                 |                    |             |                    |           |                    |             |                       |   |   |             |   |  |   |             |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|-------------|--------------------|-----------|--------------------|-------------|-----------------------|---|---|-------------|---|--|---|-------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |             | Nine Months Ended  |
| (in millions)              | September 30, 2020 |             | September 30, 2019 |           | September 30, 2020 |             | September 30, 2019(1) |
| Interest expense                | $                  | 6.0    |                    |           | $                  | 6.0    |                       |   | $ | 17.9   |   |  | $ | 15.8   |  |
| Amortization of financing costs | $                  | 0.4    |                    |           | $                  | 0.3    |                       |   | $ | 1.0    |   |  | $ | 0.9    |  |
| Weighted average interest rate  | 5.3           | %           |                    | 5.2  | %                  |             | 5.3              | % |   | 5.2    | % |
| Effective interest rate         | 5.5           | %           |                    | 5.5  | %                  |             | 5.5              | % |   | 5.5    | % |
| Average debt outstanding        | $                  | 453.3  |                    |           | $                  | 453.3  |                       |   | $ | 453.3  |   |  | $ | 402.0  |  |

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|                                         |  |                    |  |                       |             |                    |             |                        |   |             |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------|--|--------------------|--|-----------------------|-------------|--------------------|-------------|------------------------|---|-------------|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (in millions)                      |  |                    |  |                       |             |                    |             |                        |
| Issuance Date                      |  | Maturity Date |  | Debenture Amount |             | Interest Rate |             | SBA Annual Charge |
| Fixed SBA-guaranteed debentures(1): |  |               |  |                  |             |               |             |                   |
| March 25, 2015                          |  | March 1, 2025      |  | $                     | 37.5   |                    |             | 2.517             | % |             | 0.355  | % |
| September 23, 2015                      |  | September 1, 2025  |  | 37.5             |             |                    | 2.829  | %                      |   | 0.355  | %           |
| September 23, 2015                      |  | September 1, 2025  |  | 28.8             |             |                    | 2.829  | %                      |   | 0.742  | %           |
| March 23, 2016                          |  | March 1, 2026      |  | 13.9             |             |                    | 2.507  | %                      |   | 0.742  | %           |
| September 21, 2016                      |  | September 1, 2026  |  | 4.0              |             |                    | 2.051  | %                      |   | 0.742  | %           |
| September 20, 2017                      |  | September 1, 2027  |  | 13.0             |             |                    | 2.518  | %                      |   | 0.742  | %           |
| March 21, 2018                          |  | March 1, 2028      |  | 15.3             |             |                    | 3.187  | %                      |   | 0.742  | %           |
| Fixed SBA-guaranteed debentures(2): |  |                    |  |                       |             |                    |             |                        |
| September 19, 2018                      |  | September 1, 2028  |  | 15.0             |             |                    | 3.548  | %                      |   | 0.222  | %           |
| September 25, 2019                      |  | September 1, 2029  |  | 19.0             |             |                    | 2.283  | %                      |   | 0.222  | %           |
| March 25, 2020                          |  | March 1, 2030      |  | 41.0             |             |                    | 2.078  | %                      |   | 0.222  | %           |
| March 25, 2020                          |  | March 1, 2030      |  | 24.0             |             |                    | 2.078  | %                      |   | 0.275  | %           |
| September 23, 2020                      |  | September 1, 2030  |  | 51.0             |             |                    | 1.034  | %                      |   | 0.275  | %           |
| Total SBA-guaranteed debentures         |  |               |  | $                     | 300.0  |                    |             |                   |   |        |

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|  |

|                                 |                    |             |                    |           |                    |             |                    |   |   |             |   |  |   |             |  |  |  |  |  |  |  |  |  |
|---------------------------------|--------------------|-------------|--------------------|-----------|--------------------|-------------|--------------------|---|---|-------------|---|--|---|-------------|--|--|--|--|--|--|--|--|--|
|                            | Three Months Ended |             | Nine Months Ended  |
| (in millions)              | September 30, 2020 |             | September 30, 2019 |           | September 30, 2020 |             | September 30, 2019 |
| Interest expense                | $                  | 2.1    |                    |           | $                  | 1.5    |                    |   | $ | 6.0    |   |  | $ | 4.2    |  |
| Amortization of financing costs | $                  | 0.2    |                    |           | $                  | 0.1    |                    |   | $ | 0.7    |   |  | $ | 0.4    |  |
| Weighted average interest rate  | 2.8           | %           |                    | 3.3  | %                  |             | 2.8           | % |   | 3.3    | % |
| Effective interest rate         | 3.1           | %           |                    | 3.6  | %                  |             | 3.2           | % |   | 3.6    | % |
| Average debt outstanding        | $                  | 300.0  |                    |           | $                  | 176.6  |                    |   | $ | 281.1  |   |  | $ | 168.9  |  |

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|                               |  |                                                                    |               |                           |               |                            |               |                            |  |                       |               |  |  |               |               |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------|--|--------------------------------------------------------------------|---------------|---------------------------|---------------|----------------------------|---------------|----------------------------|--|-----------------------|---------------|--|--|---------------|---------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                          |  | Contractual Obligations Payments Due by Period |
| (in millions)                 |  | Total                                                              |               | Less than1 Year |               | 1 - 3 Years |               | 3 - 5 Years |  | More than5 Years |
| Holdings Credit Facility(1)   |  | $                                                                  | 459.2    |                           |               | $                          | —  |                            |  | $                     | 459.2    |  |  | $             | —  |  |  | $ | —  |  |
| Unsecured Notes(2)            |  | 453.3                                                         |               |                           | 90.0     |                            |               | 195.0                 |  |                       | 168.3    |  |  | —  |               |
| SBA-guaranteed debentures(3)  |  | 300.0                                                         |               |                           | —  |                            |               | —               |  |                       | 103.8    |  |  | 196.2    |               |
| DB Credit Facility(4)         |  | 242.0                                                         |               |                           | —  |                            |               | —               |  |                       | 242.0    |  |  | —  |               |
| Convertible Notes(5)          |  | 201.2                                                         |               |                           | —  |                            |               | 201.2                 |  |                       | —  |  |  | —  |               |
| NMFC Credit Facility(6)       |  | 150.5                                                         |               |                           | —  |                            |               | 150.5                 |  |                       | —  |  |  | —  |               |
|                               |  |                                                                    |               |                           |               |                            |               |                            |  |                       |
| Total Contractual Obligations |  | $                                                                  | 1,806.2  |                           |               | $                          | 90.0     |                            |  | $                     | 1,005.9  |  |  | $             | 514.1    |  |  | $ | 196.2    |  |

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|                             |  |                    |  |                    |  |                    |  |                          |            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------|--|--------------------|--|--------------------|--|--------------------|--|--------------------------|------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Fiscal Year Ended |  | Date Declared |  | Record Date   |  | Payment Date  |  | Per ShareAmount (1) |
| December 31, 2020           |  |                    |  |                    |  |                    |  |                          |
| Third Quarter               |  | July 29, 2020      |  | September 16, 2020 |  | September 30, 2020 |  | $                        | 0.30  |  |
| Second Quarter              |  | April 29, 2020     |  | June 16, 2020      |  | June 30, 2020      |  | 0.30                |            |
| First Quarter               |  | February 19, 2020  |  | March 13, 2020     |  | March 27, 2020     |  | 0.34                |            |
|                             |  |                    |  |                    |  |                    |  | $                        | 0.94  |  |
| December 31, 2019      |  |                    |  |                    |  |                    |  |                          |
| Fourth Quarter              |  | November 4, 2019   |  | December 13, 2019  |  | December 27, 2019  |  | $                        | 0.34  |  |
| Third Quarter               |  | August 1, 2019     |  | September 13, 2019 |  | September 27, 2019 |  | 0.34                |            |
| Second Quarter              |  | May 1, 2019        |  | June 14, 2019      |  | June 28, 2019      |  | 0.34                |            |
| First Quarter               |  | February 22, 2019  |  | March 15, 2019     |  | March 29, 2019     |  | 0.34                |            |
|                             |  |                    |  |                    |  |                    |  | $                        | 1.36  |  |
| December 31, 2018      |  |                    |  |                    |  |                    |  |                          |
| Fourth Quarter              |  | November 1, 2018   |  | December 14, 2018  |  | December 28, 2018  |  | $                        | 0.34  |  |
| Third Quarter               |  | August 1, 2018     |  | September 14, 2018 |  | September 28, 2018 |  | 0.34                |            |
| Second Quarter              |  | May 2, 2018        |  | June 15, 2018      |  | June 29, 2018      |  | 0.34                |            |
| First Quarter               |  | February 21, 2018  |  | March 15, 2018     |  | March 29, 2018     |  | 0.34                |            |
|                             |  |                    |  |                    |  |                    |  | $                        | 1.36  |  |

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|                                         |  |                                                                                                              |   |  |  |  |  |  |
|-----------------------------------------|--|--------------------------------------------------------------------------------------------------------------|---|--|--|--|--|--|
| Change in Interest Rates |  | EstimatedPercentageChange in InterestIncome Net ofInterest Expense (unaudited) |
| -25 Basis Points                        |  | 0.21                                                                                                    | % |
| Base Interest Rate                      |  | —                                                                                                 | % |
| +100 Basis Points                       |  | 2.35                                                                                                    | % |
| +200 Basis Points                       |  | 13.79                                                                                                   | % |
| +300 Basis Points                       |  | 25.23                                                                                                   | % |

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|                                                  |  |                  |  |                        |               |                                                                      |  |                                                                                            |               |  |               |               |               |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------|--|------------------|--|------------------------|---------------|----------------------------------------------------------------------|--|--------------------------------------------------------------------------------------------|---------------|--|---------------|---------------|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (in thousands, except shares and per share data) |  | Total Number of  |  | Weighted Average Price |               | Total Number of Shares Purchased as Part of Publicly Announced Plans |  | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the |
| Period                                           |  | Shares Purchased |  | Paid Per Share         |               | or Programs                                                          |  | Plans or Programs                                                                          |
| January 2020                                     |  | —     |  |                        | $             | —                                                         |  |                                                                                            | —  |  |               | $             | —  |  |
| February 2020                                    |  | —     |  |                        | —  |                                                                      |  | —                                                                               |               |  | —  |               |
| March 2020                                       |  | 133,539     |  |                        | 6.75     |                                                                      |  | —                                                                               |               |  | —  |               |
| April 2020                                       |  | 12,551      |  |                        | 6.76     |                                                                      |  | —                                                                               |               |  | —  |               |
| May 2020                                         |  | —     |  |                        | —  |                                                                      |  | —                                                                               |               |  | —  |               |
| June 2020                                        |  | —     |  |                        | —  |                                                                      |  | —                                                                               |               |  | —  |               |
| July 2020                                        |  | 102,111     |  |                        | 9.52     |                                                                      |  |                                                                                            |               |  |
| August 2020                                      |  | —     |  |                        | —  |                                                                      |  | —                                                                               |               |  | —  |               |
| September 2020                                   |  | —     |  |                        | —  |                                                                      |  | —                                                                               |               |  | —  |               |
| Total                                            |  | 248,201     |  |                        | $             | 7.89                                                            |  |                                                                                            | —  |  |               | —  |               |

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|               |  |                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                      |  |  |  |  |  |
|---------------|--|---------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|
| ExhibitNumber |  | Description                                                                                                   |
| 3.1(a)        |  | Amended and Restated Certificate of Incorporation of New Mountain Finance Corporation(2)                      |
|               |  |                                                                                                               |
| 3.1(b)        |  | Certificate of Change of Registered Agent and/or Registered Office of New Mountain Finance Corporation(3) |
|               |  |                                                                                                               |
| 3.2      |  |                                                                                                               | Amended and Restated Bylaws of New Mountain Finance Corporation(2)                                                                                                                                                                                                                                                                                                                                   |
|               |  |                                                                                                               |
| 3.3      |  |                                                                                                               | Certificate of Amendment to the Amended and Restated Certificate of Incorporation New Mountain Finance Corporation(4)                                                                                                                                                                                                                                                                                |
|               |  |                                                                                                               |
| 4.1      |  |                                                                                                               | Form of Stock Certificate of New Mountain Finance Corporation(1)                                                                                                                                                                                                                                                                                                                                |
|               |  |                                                                                                               |
| 10.1     |  |                                                                                                               | Form of Fourth Amendment to Loan and Security Agreement, dated as of September 30, 2020, by and among New Mountain Finance Corporation, as the collateral manager, New Mountain Finance Holdings, L.L.C., as the borrower, Wells Fargo Bank, National Association, as the administrative agent, the lenders party thereto and Wells Fargo Bank, National Association, as the collateral custodian(5) |
|               |  |                                                                                                               |
| 10.2     |  |                                                                                                               | Amended and Restated Dividend Reinvestment Plan*                                                                                                                                                                                                                                                                                                                                                     |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
|               |  |                                                                                                               |
| 31.1     |  |                                                                                                               | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended*                                                                                                                                                                                                                                                                    |
|               |  |                                                                                                               |
| 31.2     |  |                                                                                                               | Certification of Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended*                                                                                                                                                                                                                                                                    |
|               |  |                                                                                                               |
| 32.1     |  |                                                                                                               | Certification of Chief Executive Officer pursuant to Section 906 of The Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)*                                                                                                                                                                                                                                                                            |
|               |  |                                                                                                               |
| 32.2     |  |                                                                                                               | Certification of Chief Financial Officer pursuant to Section 906 of The Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)*                                                                                                                                                                                                                                                                            |

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|        |                                  |                                              |  |  |  |  |  |  |
|--------|----------------------------------|----------------------------------------------|--|--|--|--|--|--|
|   | NEW MOUNTAIN FINANCE CORPORATION |
|   |                             |
|   | By:                          | /s/ ROBERT A. HAMWEE                 |
|   |                             | Robert A. Hamwee                             |
|   |                             | Chief Executive Officer                      |
|   |                             | (Principal Executive Officer), and Director  |
|   |                             |
|   | By:                          | /s/ SHIRAZ Y. KAJEE                  |
|   |                             | Shiraz Y. Kajee                              |
|   |                             | Chief Financial Officer                      |
|   |                             | (Principal Financial and Accounting Officer) |