|                                                                |  |                                      |  |  |  |  |  |  |
|----------------------------------------------------------------|--|--------------------------------------|--|--|--|--|--|--|
| Maryland                                                       |  | 45-2460782                           |
| (State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification No.) |
|                                                                |  |                                      |
| 10 East 40th Street, 42nd Floor New York, NY                   |  | 10016                                |
| (Address of principal executive offices)                       |  | (Zip Code)                           |

|  |                     |  |                   |  |                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--|---------------------|--|-------------------|--|-------------------------------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|  | Title of each class |  | Trading Symbol(s) |  | Name of each exchange on which registered |  |
|  | None                |  | None              |  | None                                      |  |

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

----

|          |                                                                                                                            |      |  |  |  |  |  |  |
|----------|----------------------------------------------------------------------------------------------------------------------------|------|--|--|--|--|--|--|
|          |                                                                                                                            | Page |
|          | Forward-Looking Statements                                                                                                 | 1    |
| PART I   | FINANCIAL INFORMATION                                                                                                      |      |
| Item 1.  | Consolidated Financial Statements                                                                                          | 3    |
|          | Consolidated Statements of Assets and Liabilities as of December 31, 2022 (unaudited) and June 30, 2022                    | 3    |
|          | Consolidated Statements of Operations for the three and six months ended December 31, 2022 and 2021 (unaudited)            | 4    |
|          | Consolidated Statements of Changes in Net Assets for the three and six months ended December 31, 2022 and 2021 (unaudited) | 5    |
|          | Consolidated Statements of Cash Flows for the six months ended December 31, 2022 and 2021 (unaudited)                      | 7    |
|          | Consolidated Schedules of Investments as of December 31, 2022 (unaudited) and June 30, 2022                                | 8    |
|          | Notes to Consolidated Financial Statements (unaudited)                                                                     | 14   |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                | 48   |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                                                 | 68   |
| Item 4.  | Controls and Procedures                                                                                                    | 69   |
| PART II  | OTHER INFORMATION                                                                                                          |      |
| Item 1.  | Legal Proceedings                                                                                                          | 69   |
| Item 1A. | Risk Factors                                                                                                               | 69   |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                                                | 70   |
| Item 3.  | Default Upon Senior Securities                                                                                             | 70   |
| Item 4.  | Mine Safety Disclosures                                                                                                    | 70   |
| Item 5.  | Other Information                                                                                                          | 70   |
| Item 6.  | Exhibits                                                                                                                   | 71   |
|          | Signatures                                                                                                                 | 72   |

----

----

----

|                                                                                                                                                                   |  |                   |                  |               |                  |   |                  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-------------------|------------------|---------------|------------------|---|------------------|--|--|--|--|--|--|--|--|--|--|
| Assets                                                                                                                                                            |  | December 31, 2022 |                  | June 30, 2022 |                  |
|                                                                                                                                                                   |  | (unaudited)       |                  |               |                  |
| Investments at fair value:                                                                                                                                    |  |                   |                  |               |                  |
| Non-control/non-affiliate investments (amortized cost of $36,335,066 and $38,560,109, respectively)                                                           |  | $                 | 32,217,778  |               |                  | $ | 35,809,997  |  |  |
| Total investments (Note 8 and 9)                                                                                                                                  |  | 32,217,778   |                  |               | 35,809,997  |   |                  |
| Restricted cash                                                                                                                                                   |  | 684,602      |                  |               | —     |   |                  |
| Deferred financing costs (Note 11)                                                                                                                                |  | 375,437      |                  |               | 404,589     |   |                  |
| Interest receivable                                                                                                                                               |  | 217,120      |                  |               | 216,257     |   |                  |
| Prepaid expenses and other assets                                                                                                                                 |  | 174,963      |                  |               | 224,395     |   |                  |
| Cash                                                                                                                                                              |  | 134,157      |                  |               | 1,467,568   |   |                  |
| Receivable for repayments of portfolio investments                                                                                                                |  | 10,079       |                  |               | 33,940      |   |                  |
| Total Assets                                                                                                                                                      |  | 33,814,136   |                  |               | 38,156,746  |   |                  |
|                                                                                                                                                                   |  |                   |                  |               |                  |
| Liabilities                                                                                                                                                       |  |                   |                  |               |                  |
| Revolving Credit Facility (Note 11)                                                                                                                               |  | 17,800,000   |                  |               | 20,500,000  |   |                  |
| Due to Administrator (Note 5)                                                                                                                                     |  | 622,360      |                  |               | 356,125     |   |                  |
| Accrued audit fees                                                                                                                                                |  | 180,700      |                  |               | 128,140     |   |                  |
| Interest payable                                                                                                                                                  |  | 135,472      |                  |               | 96,712      |   |                  |
| Distributions payable                                                                                                                                             |  | 106,123      |                  |               | 100,836     |   |                  |
| Accrued expenses                                                                                                                                                  |  | 101,351      |                  |               | 100,555     |   |                  |
| Accrued legal fees                                                                                                                                                |  | 100,167      |                  |               | 168,468     |   |                  |
| Tax payable                                                                                                                                                       |  | —      |                  |               | 4,935       |   |                  |
| Total Liabilities                                                                                                                                                 |  | 19,046,173   |                  |               | 21,455,771  |   |                  |
| Commitments and Contingencies (Note 10)                                                                                                                           |  | —      |                  |               | —     |   |                  |
| Net Assets                                                                                                                                                        |  | $                 | 14,767,963  |               |                  | $ | 16,700,975  |  |  |
|                                                                                                                                                                   |  |                   |                  |               |                  |
| Components of Net Assets                                                                                                                                          |  |                   |                  |               |                  |
| Common Stock, par value $0.001 per share (75,000,000 shares authorized; 2,371,542 and 2,375,890 Class A shares issued and outstanding, respectively) (Note 4) |  | $                 | 2,372       |               |                  | $ | 2,376       |  |  |
| Paid-in capital in excess of par (Note 4 and Note 7)                                                                                                              |  | 24,878,298   |                  |               | 25,188,341  |   |                  |
| Total distributable earnings (loss) (Note 7)                                                                                                                      |  | (10,112,707)      |                  |               | (8,489,742)      |   |                  |
| Net Assets                                                                                                                                                        |  | 14,767,963   |                  |               | 16,700,975  |   |                  |
| Net Asset Value Per Share (Note 12)                                                                                                                               |  | $                 | 6.23        |               |                  | $ | 7.03        |  |  |
|                                                                                                                                                                   |  |                   |                  |               |                  |
|                                                                                                                                                                   |  |                   |                  |               |                  |

----

|                                                                                                                                                                                                                                                                                                        |  |                                 |                               |      |               |      |               |                 |  |   |                 |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|---------------------------------|-------------------------------|------|---------------|------|---------------|-----------------|--|---|-----------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                        |  | Three Months Ended December 31, | Six Months Ended December 31, |
|                                                                                                                                                                                                                                                                                                        |  | 2022                            |                               | 2021 |               | 2022 |               | 2021            |  |
| Investment Income                                                                                                                                                                                                                                                                                      |  |                                 |                               |      |               |      |               |                 |  |
| Interest income from non-control/non-affiliate investments                                                                                                                                                                                                                                         |  | $                               | 692,405                  |      |               | $    | 552,003  |                 |  | $ | 1,299,279  |  |  | $ | 1,297,396  |  |  |
| Interest income from structured credit securities                                                                                                                                                                                                                                                      |  | 179,255                    |                               |      | 207,776  |      |               | 367,895    |  |   | 457,927    |  |  |
| Total Investment Income                                                                                                                                                                                                                                                                                |  | 871,660                    |                               |      | 759,779  |      |               | 1,667,174  |  |   | 1,755,323  |  |  |
|                                                                                                                                                                                                                                                                                                        |  |                                 |                               |      |               |      |               |                 |  |
| Operating Expenses                                                                                                                                                                                                                                                                                     |  |                                 |                               |      |               |      |               |                 |  |
| Interest expense and credit facility expenses (Note 11)                                                                                                                                                                                                                                                |  | 320,992                    |                               |      | 141,686  |      |               | 590,250    |  |   | 284,071    |  |  |
| Audit and tax expense                                                                                                                                                                                                                                                                                  |  | 37,400                     |                               |      | 80,147   |      |               | 175,833    |  |   | 164,225    |  |  |
| Base management fees (Note 5)                                                                                                                                                                                                                                                                          |  | 105,950                    |                               |      | 184,999  |      |               | 218,384    |  |   | 367,197    |  |  |
| Legal expense                                                                                                                                                                                                                                                                                          |  | 30,088                     |                               |      | 34,835   |      |               | 98,567     |  |   | 37,981     |  |  |
| Insurance expense                                                                                                                                                                                                                                                                                      |  | 43,104                     |                               |      | 43,104   |      |               | 104,093    |  |   | 86,317     |  |  |
| Administrator Costs (Note 5)                                                                                                                                                                                                                                                                           |  | 235,719                    |                               |      | 153,885  |      |               | 296,300    |  |   | 323,082    |  |  |
| General and administrative                                                                                                                                                                                                                                                                             |  | (12,698)                        |                               |      | 1,646    |      |               | 44,903     |  |   | 25,778     |  |  |
| Transfer agent’s fees and expenses                                                                                                                                                                                                                                                               |  | 56,213                     |                               |      | 41,168   |      |               | 111,244    |  |   | 84,814     |  |  |
| Offering costs                                                                                                                                                                                                                                                                                         |  | 4,281                      |                               |      | 45,366   |      |               | 12,794     |  |   | 50,673     |  |  |
| Valuation services                                                                                                                                                                                                                                                                                     |  | 5,000                      |                               |      | 751      |      |               | 10,000     |  |   | 34,617     |  |  |
| Total Operating Expenses                                                                                                                                                                                                                                                                               |  | 826,049                    |                               |      | 727,587  |      |               | 1,662,368  |  |   | 1,458,755  |  |  |
| Expense limitation payment (Note 5)                                                                                                                                                                                                                                                                    |  | (105,950)                       |                               |      | (184,999)     |      |               | (218,384)       |  |   | (367,197)       |  |  |
| Total Net Operating Expenses                                                                                                                                                                                                                                                                           |  | 720,099                    |                               |      | 542,588  |      |               | 1,443,984  |  |   | 1,091,558  |  |  |
| Net Investment Income (Loss)                                                                                                                                                                                                                                                                           |  | 151,561                    |                               |      | 217,191  |      |               | 223,190    |  |   | 663,765    |  |  |
|                                                                                                                                                                                                                                                                                                        |  |                                 |                               |      |               |      |               |                 |  |
| Net Realized and Net Change in Unrealized Losses on Investments                                                                                                                                                                                                                                        |  |                                 |                               |      |               |
| Net realized losses:                                                                                                                                                                                                                                                                               |  |                                 |                               |      |               |      |               |                 |  |
| Non-control/non-affiliate investments                                                                                                                                                                                                                                                              |  | (147,942)                       |                               |      | —  |      |               | (147,942)       |  |   | —    |  |  |
| Net realized losses                                                                                                                                                                                                                                                                                    |  | (147,942)                       |                               |      | —  |      |               | (147,942)       |  |   | —    |  |  |
| Net change in unrealized losses:                                                                                                                                                                                                                                                                   |  |                                 |                               |      |               |      |               |                 |  |
| Non-control/non-affiliate investments                                                                                                                                                                                                                                                              |  | (778,235)                       |                               |      | (113,341)     |      |               | (1,367,176)     |  |   | (412,064)       |  |  |
| Net change in unrealized losses                                                                                                                                                                                                                                                                        |  | (778,235)                       |                               |      | (113,341)     |      |               | (1,367,176)     |  |   | (412,064)       |  |  |
| Net Realized and Net Change in Unrealized Losses on Investments                                                                                                                                                                                                                                        |  | (926,177)                       |                               |      | (113,341)     |      |               | (1,515,118)     |  |   | (412,064)       |  |  |
| Net (Decrease) Increase in Net Assets Resulting from Operations                                                                                                                                                                                                                                        |  | $                               | (774,616)                     |      |               | $    | 103,850  |                 |  | $ | (1,291,928)     |  |  | $ | 251,701    |  |  |
| Net (decrease) increase in net assets resulting from operations per share (Note 12)(1)                                                                                                                                                                                                                 |  | $                               | (0.33)                        |      |               | $    | 0.04     |                 |  | $ | (0.54)          |  |  | $ | 0.11       |  |  |
| Distributions declared per share                                                                                                                                                                                                                                                                       |  | $                               | 0.12                     |      |               | $    | 0.16     |                 |  | $ | 0.26       |  |  | $ | 0.32       |  |  |
|                                                                                                                                                                                                                                                                                                        |  |                                 |                               |      |               |      |               |                 |  |
| (1) For the three months ended December 31, 2022 and 2021, the weighted average common shares outstanding were 2,373,798 and 2,383,928, respectively. For the six months ended December 31, 2022 and 2021, the weighted average common shares outstanding were 2,374,492 and  2,384,784, respectively. |

----

|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |               |  |   |               |  |  |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------|--|-----|---------------|----------------------------------|--|-------------------------------|---|------------------|---------------|--|---|---------------|--|--|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                 |  | Common Stock    |  |     |               |                                  |
| For the Three Months Ended December 31, 2022                                                                                                                                                                                                                                                                                                                                    |  | Shares          |  | Par |               | Paid-in Capital in Excess of Par |  | Distributable Earnings (Loss) |   | Net Assets       |
| Balance as of September 30, 2022(1)                                                                                                                                                                                                                                                                                                                                             |  | 2,375,249  |  |     | $             | 2,375                       |  |                               | $ | 25,097,836  |               |  | $ | (9,254,763)   |  |  | $ | 15,845,448  |  |
| Net decrease in net assets resulting from operations                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Net investment income                                                                                                                                                                                                                                                                                                                                                           |  | —    |  |     | —  |                                  |  | —                  |   |                  | 151,561  |  |   | 151,561  |  |
| Net realized losses on investments                                                                                                                                                                                                                                                                                                                                              |  | —    |  |     | —  |                                  |  | —                  |   |                  | (147,942)     |  |   | (147,942)     |  |
| Net change in unrealized losses on investments                                                                                                                                                                                                                                                                                                                                  |  | —    |  |     | —  |                                  |  | —                  |   |                  | (778,235)     |  |   | (778,235)     |  |
| Distributions to Shareholders (Note 6)                                                                                                                                                                                                                                                                                                                                          |  |                 |  |     |               |                                  |  |                               |   |                  |
| Distributions from earnings                                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | —                  |   |                  | (239,157)     |  |   | (239,157)     |  |
| Return of capital distributions                                                                                                                                                                                                                                                                                                                                                 |  | —    |  |     | —  |                                  |  | (41,628)                      |   |                  | —  |  |   | (41,628)      |  |
| Capital Transactions                                                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Shares issued through reinvestment of distributions (Note 4)                                                                                                                                                                                                                                                                                                                    |  | 19,727     |  |     | 20       |                                  |  | 133,728                  |   |                  | —  |  |   | 133,748  |  |
| Repurchase of common shares (Note 4)                                                                                                                                                                                                                                                                                                                                            |  | (23,434)        |  |     | (23)          |                                  |  | (155,809)                     |   |                  | —  |  |   | (155,832)     |  |
| Tax Reclassification of Net Assets (Note 7)                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | (155,829)                     |   |                  | 155,829  |  |   | —  |  |
| Total Decrease for the three months ended December 31, 2022                                                                                                                                                                                                                                                                                                                     |  | (3,707)         |  |     | (3)           |                                  |  | (219,538)                     |   |                  | (857,944)     |  |   | (1,077,485)   |  |
| Balance as of December 31, 2022                                                                                                                                                                                                                                                                                                                                                 |  | 2,371,542  |  |     | $             | 2,372                       |  |                               | $ | 24,878,298  |               |  | $ | (10,112,707)  |  |  | $ | 14,767,963  |  |
|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |
| (1) Certain reclassifications have been made in the presentation of prior year and prior quarter amounts to conform to the presentation for the current fiscal year. In addition, we have not yet finalized return of capital estimates for the current period. See Note 3 and 7 within the accompanying notes to the consolidated financial statements for further discussion. |

|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |               |  |   |               |  |  |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------|--|-----|---------------|----------------------------------|--|-------------------------------|---|------------------|---------------|--|---|---------------|--|--|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                 |  | Common Stock    |  |     |               |                                  |
| For the Three Months Ended December 31, 2021                                                                                                                                                                                                                                                                                                                                    |  | Shares          |  | Par |               | Paid-in Capital in Excess of Par |  | Distributable Earnings (Loss) |   | Net Assets       |
| Balance as of September 30, 2021(1)                                                                                                                                                                                                                                                                                                                                             |  | 2,385,760  |  |     | $             | 2,386                       |  |                               | $ | 25,167,089  |               |  | $ | (5,461,250)   |  |  | $ | 19,708,225  |  |
| Net increase in net assets resulting from operations                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Net investment income                                                                                                                                                                                                                                                                                                                                                           |  | —    |  |     | —  |                                  |  | —                  |   |                  | 217,191  |  |   | 217,191  |  |
| Net change in unrealized losses on investments                                                                                                                                                                                                                                                                                                                                  |  | —    |  |     | —  |                                  |  | —                  |   |                  | (113,341)     |  |   | (113,341)     |  |
| Distributions to Shareholders (Note 6)                                                                                                                                                                                                                                                                                                                                          |  |                 |  |     |               |                                  |  |                               |   |                  |
| Distributions from earnings                                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | —                  |   |                  | (93,141)      |  |   | (93,141)      |  |
| Return of capital distributions                                                                                                                                                                                                                                                                                                                                                 |  | —    |  |     | —  |                                  |  | (279,645)                     |   |                  | —  |  |   | (279,645)     |  |
| Capital Transactions                                                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Shares issued through reinvestment of distributions                                                                                                                                                                                                                                                                                                                             |  | 20,627     |  |     | 21       |                                  |  | 170,520                  |   |                  | —  |  |   | 170,541  |  |
| Repurchase of common shares                                                                                                                                                                                                                                                                                                                                                     |  | (24,286)        |  |     | (24)          |                                  |  | (200,097)                     |   |                  | —  |  |   | (200,121)     |  |
| Tax Reclassification of Net Assets (Note 7)                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | (318,847)                     |   |                  | 318,847  |  |   |               |
| Total Increase (Decrease) for the three months ended December 31, 2021                                                                                                                                                                                                                                                                                                          |  | (3,659)         |  |     | (3)           |                                  |  | (628,069)                     |   |                  | 329,556  |  |   | (298,516)     |  |
| Balance as of December 31, 2021                                                                                                                                                                                                                                                                                                                                                 |  | 2,382,101  |  |     | $             | 2,383                       |  |                               | $ | 24,539,020  |               |  | $ | (5,131,694)   |  |  | $ | 19,409,709  |  |
|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |
| (1) Certain reclassifications have been made in the presentation of prior year and prior quarter amounts to conform to the presentation for the current fiscal year. In addition, we have not yet finalized return of capital estimates for the current period. See Note 3 and 7 within the accompanying notes to the consolidated financial statements for further discussion. |

----

|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |               |  |   |               |  |  |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------|--|-----|---------------|----------------------------------|--|-------------------------------|---|------------------|---------------|--|---|---------------|--|--|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                 |  | Common Stock    |  |     |               |                                  |
| For the Six Months Ended December 31, 2022                                                                                                                                                                                                                                                                                                                                      |  | Shares          |  | Par |               | Paid-in Capital in Excess of Par |  | Distributable Earnings (Loss) |   | Net Assets       |
| Balance as of June 30, 2022(1)                                                                                                                                                                                                                                                                                                                                                  |  | 2,375,890  |  |     | $             | 2,376                       |  |                               | $ | 25,188,341  |               |  | $ | (8,489,742)   |  |  | $ | 16,700,975  |  |
| Net decrease in net assets resulting from operations                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Net investment income                                                                                                                                                                                                                                                                                                                                                           |  | —    |  |     | —  |                                  |  | —                  |   |                  | 223,190  |  |   | 223,190  |  |
| Net realized losses on investments                                                                                                                                                                                                                                                                                                                                              |  | —    |  |     | —  |                                  |  | —                  |   |                  | (147,942)     |  |   | (147,942)     |  |
| Net change in unrealized losses on investments                                                                                                                                                                                                                                                                                                                                  |  | —    |  |     | —  |                                  |  | —                  |   |                  | (1,367,176)   |  |   | (1,367,176)   |  |
| Distributions to Shareholders (Note 6)                                                                                                                                                                                                                                                                                                                                          |  |                 |  |     |               |                                  |  |                               |   |                  |
| Distributions from earnings                                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | —                  |   |                  | (486,866)     |  |   | (486,866)     |  |
| Return of capital distributions                                                                                                                                                                                                                                                                                                                                                 |  | —    |  |     | —  |                                  |  | (132,910)                     |   |                  | —  |  |   | (132,910)     |  |
| Capital Transactions                                                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Shares issued through reinvestment of distributions (Note 4)                                                                                                                                                                                                                                                                                                                    |  | 40,904     |  |     | 41       |                                  |  | 286,988                  |   |                  | —  |  |   | 287,029  |  |
| Repurchase of common shares (Note 4)                                                                                                                                                                                                                                                                                                                                            |  | (45,252)        |  |     | (45)          |                                  |  | (308,292)                     |   |                  | —  |  |   | (308,337)     |  |
| Tax Reclassification of Net Assets (Note 7)                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | (155,829)                     |   |                  | 155,829  |  |   | —  |  |
| Total Decrease for the six months ended December 31, 2022                                                                                                                                                                                                                                                                                                                       |  | (4,348)         |  |     | (4)           |                                  |  | (310,043)                     |   |                  | (1,622,965)   |  |   | (1,933,012)   |  |
| Balance as of December 31, 2022                                                                                                                                                                                                                                                                                                                                                 |  | 2,371,542  |  |     | $             | 2,372                       |  |                               | $ | 24,878,298  |               |  | $ | (10,112,707)  |  |  | $ | 14,767,963  |  |
|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |
| (1) Certain reclassifications have been made in the presentation of prior year and prior quarter amounts to conform to the presentation for the current fiscal year. In addition, we have not yet finalized return of capital estimates for the current period. See Note 3 and 7 within the accompanying notes to the consolidated financial statements for further discussion. |

|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |               |  |   |               |  |  |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------|--|-----|---------------|----------------------------------|--|-------------------------------|---|------------------|---------------|--|---|---------------|--|--|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                 |  | Common Stock    |  |     |               |                                  |
| For the Six Months Ended December 31, 2021                                                                                                                                                                                                                                                                                                                                      |  | Shares          |  | Par |               | Paid-in Capital in Excess of Par |  | Distributable Earnings (Loss) |   | Net Assets       |
| Balance as of June 30, 2021(1)                                                                                                                                                                                                                                                                                                                                                  |  | 2,386,057  |  |     | $             | 2,386                       |  |                               | $ | 25,350,732  |               |  | $ | (5,405,311)   |  |  | $ | 19,947,807  |  |
| Net increase in net assets resulting from operations                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Net investment income                                                                                                                                                                                                                                                                                                                                                           |  | —    |  |     | —  |                                  |  | —                  |   |                  | 663,765  |  |   | 663,765  |  |
| Net change in unrealized losses on investments                                                                                                                                                                                                                                                                                                                                  |  | —    |  |     | —  |                                  |  | —                  |   |                  | (412,064)     |  |   | (412,064)     |  |
| Distributions to Shareholders (Note 6)                                                                                                                                                                                                                                                                                                                                          |  |                 |  |     |               |                                  |  |                               |   |                  |
| Distributions from earnings                                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | —                  |   |                  | (296,931)     |  |   | (296,931)     |  |
| Return of capital distributions                                                                                                                                                                                                                                                                                                                                                 |  | —    |  |     | —  |                                  |  | (462,038)                     |   |                  | —  |  |   | (462,038)     |  |
| Capital Transactions                                                                                                                                                                                                                                                                                                                                                            |  |                 |  |     |               |                                  |  |                               |   |                  |
| Shares issued through reinvestment of distributions                                                                                                                                                                                                                                                                                                                             |  | 44,411     |  |     | 45       |                                  |  | 369,841                  |   |                  | —  |  |   | 369,886  |  |
| Repurchase of common shares                                                                                                                                                                                                                                                                                                                                                     |  | (48,367)        |  |     | (48)          |                                  |  | (400,668)                     |   |                  | —  |  |   | (400,716)     |  |
| Tax Reclassification of Net Assets (Note 7)                                                                                                                                                                                                                                                                                                                                     |  | —    |  |     | —  |                                  |  | (318,847)                     |   |                  | 318,847  |  |   | —  |  |
| Total Increase (Decrease) for the six months ended December 31, 2021                                                                                                                                                                                                                                                                                                            |  | (3,956)         |  |     | (3)           |                                  |  | (811,712)                     |   |                  | 273,617  |  |   | (538,098)     |  |
| Balance as of December 31, 2021                                                                                                                                                                                                                                                                                                                                                 |  | 2,382,101  |  |     | $             | 2,383                       |  |                               | $ | 24,539,020  |               |  | $ | (5,131,694)   |  |  | $ | 19,409,709  |  |
|                                                                                                                                                                                                                                                                                                                                                                                 |  |                 |  |     |               |                                  |  |                               |   |                  |
| (1) Certain reclassifications have been made in the presentation of prior year and prior quarter amounts to conform to the presentation for the current fiscal year. In addition, we have not yet finalized return of capital estimates for the current period. See Note 3 and 7 within the accompanying notes to the consolidated financial statements for further discussion. |

----

|                                                                                                                                                      |  |                               |                 |      |                  |   |                 |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--|-------------------------------|-----------------|------|------------------|---|-----------------|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                      |  | Six Months Ended December 31, |
|                                                                                                                                                      |  | 2022                          |                 | 2021 |                  |
| Cash flows from operating activities:                                                                                                            |  |                               |                 |      |                  |
| Net (decrease) increase in net assets resulting from operations                                                                                      |  | $                             | (1,291,928)     |      |                  | $ | 251,701    |  |  |
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: |  |                               |                 |      |                  |
| Amortization of offering costs                                                                                                                       |  | 12,794                   |                 |      | 50,673      |   |                 |
| Purchases of investments                                                                                                                             |  | —                  |                 |      | (10,236,250)     |   |                 |
| Repayments and sales of portfolio investments                                                                                                        |  | 2,066,272                |                 |      | 10,114,598  |   |                 |
| Net change in unrealized losses on investments                                                                                                       |  | 1,367,176                |                 |      | 412,064     |   |                 |
| Net realized losses on investments                                                                                                                   |  | 147,942                  |                 |      | —     |   |                 |
| Amortization of premiums (accretion of purchase discounts) on investments, net                                                                       |  | 10,991                   |                 |      | (120,338)        |   |                 |
| Amortization of deferred financing costs                                                                                                             |  | 29,152                   |                 |      | 29,635      |   |                 |
| Payment-in-kind interest                                                                                                                             |  | (162)                         |                 |      | (385)            |   |                 |
| Changes in other assets and liabilities:                                                                                                         |  |                               |                 |      |                  |
| (Increase) Decrease in operating assets                                                                                                              |  |                               |                 |      |                  |
| Receivable for repayments of portfolio investments                                                                                                   |  | 23,861                   |                 |      | 6,465       |   |                 |
| Interest receivable                                                                                                                                  |  | (863)                         |                 |      | (67,146)         |   |                 |
| Deferred offering costs (Note 5)                                                                                                                     |  | (12,794)                      |                 |      | (50,673)         |   |                 |
| Prepaid expenses and other assets                                                                                                                    |  | 49,432                   |                 |      | 149,020     |   |                 |
| Increase (Decrease) in operating liabilities                                                                                                         |  |                               |                 |      |                  |
| Due to Adviser (Note 5)                                                                                                                              |  | —                  |                 |      | (44,223)         |   |                 |
| Accrued expenses                                                                                                                                     |  | 796                      |                 |      | (41,599)         |   |                 |
| Accrued legal fees                                                                                                                                   |  | (68,301)                      |                 |      | (28,690)         |   |                 |
| Accrued audit fees                                                                                                                                   |  | 52,560                   |                 |      | (2,853)          |   |                 |
| Due to Administrator (Note 5)                                                                                                                        |  | 266,235                  |                 |      | (50,611)         |   |                 |
| Payable for investments purchased                                                                                                                    |  | —                  |                 |      | 2,000,000   |   |                 |
| Due to Affiliates (Note 5)                                                                                                                           |  | —                  |                 |      | (23,258)         |   |                 |
| Interest payable                                                                                                                                     |  | 38,760                   |                 |      | 1,523       |   |                 |
| Tax payable                                                                                                                                          |  | (4,935)                       |                 |      | —     |   |                 |
| Net cash provided (used in) by operating activities                                                                                                  |  | 2,686,988                |                 |      | 2,349,653   |   |                 |
| Cash flows from financing activities:                                                                                                            |  |                               |                 |      |                  |
| Distributions paid to stockholders                                                                                                                   |  | (327,460)                     |                 |      | (380,992)        |   |                 |
| Repurchase of common shares                                                                                                                          |  | (308,337)                     |                 |      | (400,716)        |   |                 |
| Repayments under Revolving Credit Facility (Note 11)                                                                                                 |  | (2,700,000)                   |                 |      | —     |   |                 |
| Net cash (used in) provided by financing activities                                                                                                  |  | (3,335,797)                   |                 |      | (781,708)        |   |                 |
| Net (decrease) increase in cash and restricted cash                                                                                                  |  | (648,809)                     |                 |      | 1,567,945   |   |                 |
| Cash and restricted cash at beginning of period                                                                                                      |  | 1,467,568                |                 |      | 3,139,929   |   |                 |
| Cash and restricted cash at end of period                                                                                                            |  | $                             | 818,759    |      |                  | $ | 4,707,874  |  |  |
| Supplemental disclosures:                                                                                                                        |  |                               |                 |      |                  |
| Cash paid for interest                                                                                                                               |  | $                             | 522,338    |      |                  | $ | 252,913    |  |  |
| Non-cash financing activities:                                                                                                                   |  |                               |                 |      |                  |
| Value of shares issued through reinvestment of distributions                                                                                         |  | $                             | 287,029    |      |                  | $ | 369,886    |  |  |
|                                                                                                                                                      |  |                               |                 |      |                  |
| Beginning of the period                                                                                                                              |  |                               |                 |      |                  |
| Cash                                                                                                                                                 |  | $                             | 1,467,568  |      |                  | $ | 3,139,929  |  |  |
| Restricted cash                                                                                                                                      |  | —                  |                 |      | —     |   |                 |
| Cash and restricted cash at beginning of period                                                                                                      |  | $                             | 1,467,568  |      |                  | $ | 3,139,929  |  |  |
|                                                                                                                                                      |  |                               |                 |      |                  |
| End of the period                                                                                                                                    |  |                               |                 |      |                  |
| Cash                                                                                                                                                 |  | $                             | 134,157    |      |                  | $ | 4,707,874  |  |  |
| Restricted cash                                                                                                                                      |  | 684,602                  |                 |      | —     |   |                 |
| Cash and restricted cash at end of period                                                                                                            |  | $                             | 818,759    |      |                  | $ | 4,707,874  |  |  |

----

|                                                                                          |                                                   |                    |                       |         |                    |                         |                    |                 |                  |                 |               |             |                 |               |             |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------|---------------------------------------------------|--------------------|-----------------------|---------|--------------------|-------------------------|--------------------|-----------------|------------------|-----------------|---------------|-------------|-----------------|---------------|-------------|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                          |                                                   |                    |                       |         |                    | December 31, 2022       |
| Portfolio Company / Security Type                                                    | Industry                                          | Acquisition Date   | Coupon/Yield (b)  | Floor   | LegalMaturity      | Principal/ Quantity | Amortized Cost (d) | Fair Value (c)  | % of  Net Assets |
| Non-Control/Non-Affiliate Investments (less than 5.00% voting control):          |                                                   |                    |                       |         |                    |                         |                    |
| Senior Secured Loans-First Lien(f)(k)(l)                                                 |                                                   |                    |                       |         |                    |                         |                    |
| Aventiv Technologies, LLC (f/k/a Securus Technologies Holdings, Inc.)(i)(j)      | Telecommunications                                | 7/31/2019  | 3ML+4.50% (9.23%)     | 1.00    | 11/1/2024  | $                       | 1,928,934     |                 | $                | 1,863,934  |               | $           | 1,477,600  |               | 10.01  | %          |
| BCPE North Star US Holdco 2, Inc.(h)                                                     | Beverage, Food & Tobacco                      | 2/2/2022   | 3ML+4.00% (8.73%)     | 0.75    | 6/9/2028   | 1,979,953          |                    | 1,979,549  |                  | 1,910,060  |               | 12.93  | %               |
| CareerBuilder, LLC(h)(j)                                                                 | Services: Consumer                            | 7/27/2017  | 3ML+6.75% (11.48%)    | 1.00    | 7/31/2023  | 969,272            |                    | 956,314    |                  | 663,951    |               | 4.50   | %               |
| DRI Holding Inc(h)                                                                       | Media: Broadcasting & Subscription        | 12/16/2021 | 1ML+5.25% (9.63%)     | 0.50    | 12/21/2028 | 1,985,000          |                    | 1,985,000  |                  | 1,965,631  |               | 13.30  | %               |
| DTI Holdco, Inc.(h)                                                                      | Services: Business                            | 4/21/2022  | 3M SOFR+4.75% (8.84%) | 0.75    | 4/26/2029  | 1,496,250          |                    | 1,469,108  |                  | 1,435,054  |               | 9.72   | %               |
| First Brands Group(h)                                                                    | Automotive                                        | 3/24/2021  | 6M SOFR+5.00% (8.37%) | 1.00    | 3/30/2027  | 1,228,125          |                    | 1,219,278  |                  | 1,228,102  |               | 8.32   | %               |
| PetVet Care Centers, LLC(i)                                                              | Healthcare & Pharmaceuticals                  | 11/22/2021 | 1ML+3.50% (7.88%)     | 0.75    | 2/14/2025  | 1,480,867          |                    | 1,478,380  |                  | 1,396,310  |               | 9.45   | %               |
| RC Buyer, Inc.(h)                                                                        | Consumer goods: Durable                       | 7/27/2021  | 3ML + 3.50% (8.23%)   | 0.75    | 7/28/2028  | 1,975,000          |                    | 1,971,006  |                  | 1,869,733  |               | 12.65  | %               |
| Research Now Group, Inc. & Survey Sampling International LLC(h)                      | Services: Business                            | 4/2/2019   | 6ML+5.50% (8.84%)     | 1.00    | 12/20/2024 | 1,930,170          |                    | 1,930,170  |                  | 1,684,937  |               | 11.41  | %               |
| Rising Tide Holdings, Inc.(h)                                                            | Consumer goods: Non-Durable                   | 5/26/2021  | 3ML + 4.75% (9.48%)   | 0.75    | 6/1/2028   | 985,000            |                    | 977,230    |                  | 719,641    |               | 4.87   | %               |
| Rocket Software, Inc.(h)(j)                                                              | High Tech Industries                              | 4/2/2019   | 1ML+4.25% (8.63%)     | — | 11/28/2025 | 2,023,300          |                    | 2,014,246  |                  | 1,950,209  |               | 13.21  | %               |
| Shutterfly, LLC(h)                                                                       | Media: Diversified and Production             | 7/1/2021   | 1ML+5.00% (9.38%)     | 0.75    | 9/25/2026  | 1,960,000          |                    | 1,952,738  |                  | 1,386,244  |               | 9.39   | %               |
| Sorenson Communications, LLC(h)                                                          | Services: Consumer                            | 3/12/2021  | 3ML+5.50% (10.23%)    | 0.75    | 3/17/2026  | 1,650,000          |                    | 1,637,114  |                  | 1,631,188  |               | 11.05  | %               |
| Staples, Inc.(i)(j)                                                                      | Wholesale                                         | 11/18/2019 | 3ML+5.00% (9.44%)     | — | 4/16/2026  | 1,939,698          |                    | 1,925,846  |                  | 1,808,222  |               | 12.24  | %               |
| Upstream Newco, Inc.(h)                                                                  | Services: Consumer                            | 7/22/2021  | 3M SOFR+4.25% (9.09%) | — | 11/20/2026 | 1,231,250          |                    | 1,231,250  |                  | 1,163,654  |               | 7.88   | %               |
| ViaPath Technologies (f/k/a Global Tel*Link Corporation)(h)(j)                   | Telecommunications                                | 4/5/2019   | 3M SOFR+4.25% (8.49%) | — | 11/29/2025 | 1,928,247          |                    | 1,898,297  |                  | 1,845,643  |               | 12.50  | %               |
| Wellpath Holdings, Inc. (f/k/a Correct Care Solutions Group Holdings, LLC)(h)(j) | Healthcare & Pharmaceuticals                  | 4/2/2019   | 3ML+5.50% (9.91%)     | — | 10/1/2025  | 2,023,108          |                    | 2,001,925  |                  | 1,976,909  |               | 13.39  | %               |
| Total Senior Secured Loans-First Lien                                                    |                                                   |                    |                       |         | $                  | 28,491,385         |                    | $               | 26,113,088  |                 | 176.82   | %           |
|                                                                                          |                                                   |                    |                       |         |                    |                         |                    |
| Senior Secured Loans-Second Lien(f)(h)(k)(l)                                             |                                                   |                    |                       |         |                    |                         |                    |
| Inmar, Inc.                                                                              | Media: Advertising, Printing & Publishing | 5/1/2017   | 1ML+8.00% (12.38%)    | 1.00    | 5/1/2025   | $                       | 500,000       |                 | $                | 497,038    |               | $           | 467,500    |               | 3.17   | %          |
| Total Senior Secured Loans-Second Lien                                                   |                                                   |                    |                       |         | $                  | 497,038            |                    | $               | 467,500     |                 | 3.17     | %           |
|                                                                                          |                                                   |                    |                       |         |                    |                         |                    |
| Senior Secured Notes (a)(i)(k)                                                           |                                                   |                    |                       |         |                    |                         |                    |
| CURO Group Holdings Corp.                                                                | Financial                                         | 11/18/2021 | 7.50             | %       | N/A            | 8/1/2028        | $                  | 750,000    |                  | $               | 753,146  |             | $               | 351,447  |             | 2.38  | % |
| Total Senior Secured Notes                                                               |                                                   |                    |                       |         | $                  | 753,146            |                    | $               | 351,447     |                 | 2.38     | %           |
|                                                                                          |                                                   |                    |                       |         |                    |                         |                    |                 |                  |
| Structured Subordinated Notes (a)(e)(h)(k)                                               |                                                   |                    |                       |         |                    |                         |                    |
| Apidos CLO XXIV                                                                          | Structured Finance                                | 5/17/2019  | 27.71            | %       | N/A            | 10/20/2030      | $                  | 250,000    |                  | $               | 162,561  |             | $               | 151,424  |             | 1.03  | % |
| Apidos CLO XXVI                                                                          | Structured Finance                                | 7/25/2019  | 19.41            | %       | N/A            | 7/18/2029       | 250,000       |                 | 189,669     |                 | 180,853  |             | 1.22       | %             |
| California CLO IX, Ltd.                                                                  | Structured Finance                                | 12/13/2019 | 28.93            | %       | N/A            | 7/16/2032       | 500,000       |                 | 255,969     |                 | 248,978  |             | 1.69       | %             |
| Carlyle Global Market Strategies CLO 2014-4-R, Ltd.                                      | Structured Finance                                | 4/7/2017   | 14.53            | %       | N/A            | 7/15/2030       | 250,000       |                 | 178,322     |                 | 154,649  |             | 1.05       | %             |
| Carlyle Global Market Strategies CLO 2017-5, Ltd.                                        | Structured Finance                                | 12/18/2017 | 12.43            | %       | N/A            | 1/22/2030       | 500,000       |                 | 434,423     |                 | 354,878  |             | 2.40       | %             |
| Galaxy XIX CLO, Ltd.                                                                     | Structured Finance                                | 12/5/2016  | 10.86            | %       | N/A            | 7/24/2030       | 250,000       |                 | 175,946     |                 | 124,657  |             | 0.85       | %             |
| GoldenTree Loan Opportunities IX, Ltd.                                                   | Structured Finance                                | 7/19/2017  | 2.70             | %       | N/A            | 10/29/2029      | 250,000       |                 | 169,046     |                 | 145,284  |             | 0.98       | %             |
| Madison Park Funding XIII, Ltd.(m)                                                  | Structured Finance                                | 11/6/2015  | —          | %       | N/A            | 4/22/2030       | 250,000       |                 | 141,071     |                 | 121,770  |             | 0.83       | %             |
| Madison Park Funding XIV, Ltd.                                                      | Structured Finance                                | 11/16/2015 | 21.60            | %       | N/A            | 10/22/2030      | 250,000       |                 | 185,662     |                 | 142,273  |             | 0.96       | %             |
| Octagon Investment Partners XIV, Ltd.                                                    | Structured Finance                                | 12/1/2017  | 0.06             | %       | N/A            | 7/16/2029       | 850,000       |                 | 429,668     |                 | 324,141  |             | 2.19       | %             |

----

|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |              |                  |               |              |               |   |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------|----------------------------------|--------------------|----------------------|---------|---------------|-------------------------|--------------------|------------------|------------------|--------------|------------------|---------------|--------------|---------------|---|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                            |                                  |                    |                      |         |               | December 31, 2022       |
| Portfolio Company / Security Type | Industry                         | Acquisition Date   | Coupon/Yield (b) | Floor   | LegalMaturity | Principal/ Quantity | Amortized Cost (d) | Fair Value (c)   | % of  Net Assets |
| Octagon Investment Partners XV, Ltd.       | Structured Finance               | 5/23/2019  | 16.93           | %       | N/A       | 7/19/2030       | $                  | 500,000     |                  | $            | 290,767     |               | $            | 273,157  |   | 1.85  | % |
| Octagon Investment Partners XXI,Ltd.(j)    | Structured Finance               | 1/6/2016   | 19.88           | %       | N/A       | 2/14/2031       | 387,538       |                  | 240,139     |              | 181,896     |               | 1.23    | %             |
| Octagon Investment Partners 30, Ltd.       | Structured Finance               | 11/16/2017 | 7.23            | %       | N/A       | 3/17/2030       | 475,000       |                  | 379,486     |              | 324,346     |               | 2.20    | %             |
| Octagon Investment Partners 31, Ltd.       | Structured Finance               | 12/20/2019 | 12.16           | %       | N/A       | 7/20/2030       | 250,000       |                  | 155,669     |              | 145,167     |               | 0.98    | %             |
| Octagon Investment Partners 36, Ltd.       | Structured Finance               | 12/20/2019 | 24.93           | %       | N/A       | 4/15/2031       | 500,000       |                  | 382,312     |              | 336,771     |               | 2.28    | %             |
| Octagon Investment Partners 39, Ltd.       | Structured Finance               | 1/9/2020   | 24.07           | %       | N/A       | 10/21/2030      | 250,000       |                  | 197,597     |              | 188,210     |               | 1.27    | %             |
| OZLM XII, Ltd. (m)                         | Structured Finance               | 1/17/2017  | —         | %       | N/A       | 4/30/2027       | 275,000       |                  | 161,899     |              | 1,418       |               | 0.01    | %             |
| Sound Point CLO II, Ltd.                   | Structured Finance               | 5/16/2019  | 5.05            | %       | N/A       | 1/26/2031       | 1,500,000     |                  | 737,106     |              | 537,166     |               | 3.64    | %             |
| Sound Point CLO VII-R, Ltd.                | Structured Finance               | 8/23/2019  | 16.03           | %       | N/A       | 10/23/2031      | 150,000       |                  | 58,413      |              | 41,939      |               | 0.28    | %             |
| Sound Point CLO XVIII, Ltd.                | Structured Finance               | 5/16/2019  | 8.02            | %       | N/A       | 1/21/2031       | 250,000       |                  | 200,669     |              | 158,555     |               | 1.07    | %             |
| THL Credit Wind River 2013-1 CLO, Ltd.(m)  | Structured Finance               | 11/1/2017  | —         | %       | N/A       | 7/22/2030       | 325,000       |                  | 211,324     |              | 129,910     |               | 0.88    | %             |
| Venture XXXIV CLO, Ltd.                    | Structured Finance               | 7/30/2019  | 20.95           | %       | N/A       | 10/15/2031      | 250,000       |                  | 215,675     |              | 189,143     |               | 1.28    | %             |
| Voya IM CLO 2013-1, Ltd.(j)                | Structured Finance               | 6/9/2016   | 3.08            | %       | N/A       | 10/15/2030      | 278,312       |                  | 173,570     |              | 131,189     |               | 0.89    | %             |
| Voya CLO 2016-1, Ltd.                      | Structured Finance               | 1/22/2016  | 14.32           | %       | N/A       | 1/21/2031       | 250,000       |                  | 196,151     |              | 174,094     |               | 1.18    | %             |
| Total Structured Subordinated Notes        |                                  |                    |                      |         | $             | 5,923,114          |                    | $                | 4,761,868   |              | 32.24       | %             |
|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |
| Equity/Other(a)(g)(h)(k)               |                                  |                    |                      |         |               |                         |                    |                  |                  |
| ACON IWP Investors I, L.L.C.               | Healthcare & Pharmaceuticals | 4/30/2015  | N/A              | N/A | N/A       | 472,357            |                    | $                | 472,357     |              | $                | 511,000  |              | 3.46     | % |
| FullBeauty Brands Holding, Common Stock    | Retail                           | 2/7/2019   | N/A              | N/A | N/A       | 72                 |                    | 198,026     |                  | 12,875  |                  | 0.09     | %            |
| Total Equity/Other                     |                                  |                    |                      |         | $             | 670,383            |                    | $                | 523,875     |              | 3.55        | %             |
|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |
| Total Portfolio Investments                |                                  |                    |                      |         |               |                         | $                  | 36,335,066  |                  | $            | 32,217,778  |               | 218.16  | %             |

----

|                                                                                    |  |                                 |  |                                      |  |                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------|--|---------------------------------|--|--------------------------------------|--|------------------------------------------------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                                                  |  | Investment                      |  | Follow-On Acquisition Dates          |  | Follow-On Acquisitions (Excluding initial investment cost) |
| Aventiv Technologies, LLC (f/k/a Securus Technologies Holdings, Inc.)      |  | Senior Secured Loans-First Lien |  | 8/2/2019                     |  | 908,750                                               |  |
| CareerBuilder, LLC                                                                 |  | Senior Secured Loans-First Lien |  | 6/5/2020                     |  | 690,000                                               |  |
| Octagon Investment Partners XXI, Ltd.                                              |  | Structured Subordinated Notes   |  | 2/14/2019                    |  | 35,015                                                |  |
| Rocket Software, Inc.                                                              |  | Senior Secured Loans-First Lien |  | 6/28/2019, 7/30/2019 |  | 1,327,272                                             |  |
| Staples, Inc.                                                                      |  | Senior Secured Loans-First Lien |  | 2/3/2020                     |  | 980,031                                               |  |
| ViaPath Technologies (f/k/a Global Tel*Link Corporation)                   |  | Senior Secured Loans-First Lien |  | 7/9/2019, 7/16/2019  |  | 1,436,250                                             |  |
| Voya IM CLO 2013-1, Ltd.                                                           |  | Structured Subordinated Notes   |  | 10/17/2017, 7/1/2019 |  | 20,584                                                |  |
| Wellpath Holdings, Inc. (f/k/a Correct Care Solutions Group Holdings, LLC) |  | Senior Secured Loans-First Lien |  | 4/10/2019, 7/25/2019 |  | 1,327,000                                             |  |

|                      |                             |                        |                         |                              |                                 |                |                |               |                            |   |               |  |               |               |               |   |               |  |   |               |  |   |               |  |   |               |  |  |  |
|----------------------|-----------------------------|------------------------|-------------------------|------------------------------|---------------------------------|----------------|----------------|---------------|----------------------------|---|---------------|--|---------------|---------------|---------------|---|---------------|--|---|---------------|--|---|---------------|--|---|---------------|--|--|--|
| Affiliated Companies | Fair Value at June 30, 2022 | Gross Additions (Cost) | Gross Reductions (Cost) | Net unrealizedgains (losses) | Fair Value at December 31, 2022 | Interestincome | Dividendincome | Otherincome   | Net realizedgains (losses) |
|                      |                             |                        |                         |                              |                                 |                |                |               |                            |
|                      | —                |                        | —            |                              | —                    |                | —   |               | —               |   | —  |  | —  |               | —  |   | —  |  |
| Total                | $                           | —           |                         | $                            | —                    |                | $              | —  |                            | $ | —  |  | $             | —  |               | $ | —  |  | $ | —  |  | $ | —  |  | $ | —  |  |

----

|                                                                                          |                                                   |                    |                                   |         |                    |                         |                    |                 |                  |                 |                 |             |               |               |            |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------|---------------------------------------------------|--------------------|-----------------------------------|---------|--------------------|-------------------------|--------------------|-----------------|------------------|-----------------|-----------------|-------------|---------------|---------------|------------|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                          |                                                   |                    |                                   |         |                    | June 30, 2022           |
| Portfolio Company / Security Type                                                    | Industry                                          | Acquisition Date   | Coupon/Yield (b)              | Floor   | LegalMaturity      | Principal/ Quantity | Amortized Cost (d) | Fair Value (c)  | % of  Net Assets |
| Non-Control/Non-Affiliate Investments (less than 5.00% voting control):          |                                                   |                    |                                   |         |                    |                         |                    |
| Senior Secured Loans-First Lien(g)(l)(m)                                                 |                                                   |                    |                                   |         |                    |                         |                    |
| Amerilife Holdings, LLC (i)(k)                                                           | Banking, Finance, Insurance & Real Estate     | 2/6/2020   | 1ML+4.00% (5.67%)                 | — | 3/18/2027  | $                       | 735,131       |                 | $                | 734,193    |                 | $           | 735,131  |               | 4.40  | %          |
| Aventiv Technologies, LLC (f/k/a Securus Technologies Holdings, Inc.)(j)(k)      | Telecommunications                                | 7/31/2019  | 3ML+4.50% (6.75%)                 | 1.00    | 11/1/2024  | 1,939,086          |                    | 1,856,264  |                  | 1,792,400  |                 | 10.73  | %             |
| BCPE North Star US Holdco 2, Inc.(i)                                                     | Beverage, Food & Tobacco                      | 2/2/2022   | 3ML+4.00% (6.25%)                 | 0.75    | 6/9/2028   | 1,989,975          |                    | 1,989,534  |                  | 1,964,702  |                 | 11.76  | %             |
| CareerBuilder, LLC(i)(k)                                                                 | Services: Consumer                            | 7/27/2017  | 3ML+6.75% (9.00%)                 | 1.00    | 7/31/2023  | 969,272            |                    | 945,068    |                  | 661,528    |                 | 3.96   | %             |
| DRI Holding Inc(i)                                                                       | Media: Broadcasting & Subscription        | 12/16/2021 | 1ML+5.25% (6.92%)                 | 0.50    | 12/21/2028 | 1,995,000          |                    | 1,995,000  |                  | 1,960,080  |                 | 11.74  | %             |
| DTI Holdco, Inc.(i)                                                                      | Services: Business                            | 4/21/2022  | 1M SOFR+4.75% (6.28%)             | 0.75    | 4/26/2029  | 1,500,000          |                    | 1,470,694  |                  | 1,495,135  |                 | 8.95   | %             |
| Excelitas Technologies Corp.(i)                                                          | High Tech Industries                              | 7/21/2021  | 3ML+3.50% (5.75%)                 | 1.00    | 12/2/2024  | 494,819            |                    | 494,819    |                  | 481,953    |                 | 2.89   | %             |
| First Brands Group(i)                                                                    | Automotive                                        | 3/24/2021  | 3M SOFR+5.00% (6.29%)             | 1.00    | 3/30/2027  | 1,234,375          |                    | 1,224,478  |                  | 1,217,087  |                 | 7.29   | %             |
| PetVet Care Centers, LLC(i)                                                              | Healthcare & Pharmaceuticals                  | 11/22/2021 | 1ML+3.50% (5.17%)                 | 0.75    | 2/14/2025  | 1,488,520          |                    | 1,485,443  |                  | 1,407,887  |                 | 8.43   | %             |
| Quidditch Acquisition, Inc.(i)                                                           | Beverage, Food & Tobacco                      | 3/21/2018  | 1ML+7.00% (8.67%)                 | 1.00    | 3/21/2025  | 478,750            |                    | 474,097    |                  | 421,001    |                 | 2.52   | %             |
| RC Buyer, Inc.(i)                                                                        | Consumer goods: Durable                       | 7/27/2021  | 3ML + 3.50% (5.75%)               | 0.75    | 7/28/2028  | 1,975,000          |                    | 1,970,645  |                  | 1,911,603  |                 | 11.45  | %             |
| Research Now Group, Inc. & Survey Sampling International LLC(j)                      | Services: Business                            | 4/2/2019   | 6ML+5.50% (6.50%)                 | 1.00    | 12/20/2024 | 1,940,329          |                    | 1,940,329  |                  | 1,777,179  |                 | 10.64  | %             |
| Rising Tide Holdings, Inc.(i)                                                            | Consumer goods: Non-Durable                   | 5/26/2021  | 1ML + 4.75% (6.42%)               | 0.75    | 6/1/2028   | 990,000            |                    | 981,508    |                  | 914,067    |                 | 5.47   | %             |
| Rocket Software, Inc.(j)(k)                                                              | High Tech Industries                              | 4/2/2019   | 1ML+4.25% (5.92%)                 | — | 11/28/2025 | 2,033,811          |                    | 2,023,189  |                  | 1,896,529  |                 | 11.36  | %             |
| Shutterfly, LLC(j)                                                                       | Media: Diversified and Production             | 7/1/2021   | 3ML+5.00% (7.25%)                 | 0.75    | 9/25/2026  | 1,980,000          |                    | 1,971,758  |                  | 1,702,829  |                 | 10.20  | %             |
| Sorenson Communications, LLC(i)                                                          | Services: Consumer                            | 3/12/2021  | 3ML+5.50% (7.75%)                 | 0.75    | 3/17/2026  | 1,750,000          |                    | 1,735,091  |                  | 1,738,591  |                 | 10.41  | %             |
| Staples, Inc.(j)(k)                                                                      | Wholesale                                         | 11/18/2019 | 3ML+5.00% (6.29%)                 | — | 4/16/2026  | 1,949,749          |                    | 1,933,776  |                  | 1,760,222  |                 | 10.54  | %             |
| Upstream Newco, Inc.(i)                                                                  | Services: Consumer                            | 7/22/2021  | 1M SOFR+4.25% (5.89%)             | — | 11/20/2026 | 1,237,500          |                    | 1,237,500  |                  | 1,214,111  |                 | 7.27   | %             |
| ViaPath Technologies (f/k/a Global Tel*Link Corporation)(i)(k)                   | Telecommunications                                | 4/5/2019   | 1ML+4.25% (5.92%)                 | — | 11/29/2025 | 1,938,291          |                    | 1,903,157  |                  | 1,823,857  |                 | 10.92  | %             |
| Wellpath Holdings, Inc. (f/k/a Correct Care Solutions Group Holdings, LLC)(i)(k) | Healthcare & Pharmaceuticals                  | 4/2/2019   | 3ML+5.50% (7.07%)                 | — | 10/1/2025  | 2,033,645          |                    | 2,008,583  |                  | 2,004,892  |                 | 12.00  | %             |
| Total Senior Secured Loans-First Lien                                                    |                                                   |                    |                                   |         | $                  | 30,375,126         |                    | $               | 28,880,784  |                 | 172.93     | %           |
|                                                                                          |                                                   |                    |                                   |         |                    |                         |                    |
| Senior Secured Loans-Second Lien(i)(l)(m)                                                |                                                   |                    |                                   |         |                    |                         |                    |
| FullBeauty Brands Holding(f)                                                             | Retail                                            | 2/7/2019   | 7.00% (6.00% PIK plus 1.00% cash) | — | 1/31/2025  | $                       | 13,180        |                 | $                | 11,098     |                 | $           | 10,214   |               | 0.06  | %          |
| Inmar, Inc.(g)                                                                           | Media: Advertising, Printing & Publishing | 5/1/2017   | 1ML+8.00% (9.67%)                 | 1.00    | 5/1/2025   | 500,000            |                    | 496,398    |                  | 501,250    |                 | 3.00   | %             |
| Total Senior Secured Loans-Second Lien                                                   |                                                   |                    |                                   |         | $                  | 507,496            |                    | $               | 511,464     |                 | 3.06       | %           |
|                                                                                          |                                                   |                    |                                   |         |                    |                         |                    |
| Senior Secured Notes (a)(j)(l)                                                           |                                                   |                    |                                   |         |                    |                         |                    |
| CURO Group Holdings Corp.                                                                | Financial                                         | 11/18/2021 | 7.50                         | %       | N/A            | 8/1/2028        | $                  | 1,000,000  |                  | $               | 1,004,570  |             | $             | 650,000  |            | 3.89  | % |
| Total Senior Secured Notes                                                               |                                                   |                    |                                   |         | $                  | 1,004,570          |                    | $               | 650,000     |                 | 3.89       | %           |
|                                                                                          |                                                   |                    |                                   |         |                    |                         |                    |                 |                  |
| Structured Subordinated Notes (a)(e)(i)(l)                                               |                                                   |                    |                                   |         |                    |                         |                    |
| Apidos CLO XXIV                                                                          | Structured Finance                                | 5/17/2019  | 21.71                        | %       | N/A            | 10/20/2030      | $                  | 250,000    |                  | $               | 155,872    |             | $             | 152,941  |            | 0.92  | % |
| Apidos CLO XXVI                                                                          | Structured Finance                                | 7/25/2019  | 18.11                        | %       | N/A            | 7/18/2029       | 250,000       |                 | 185,058     |                 | 188,800    |             | 1.13     | %             |
| California CLO IX, Ltd.                                                                  | Structured Finance                                | 12/13/2019 | 25.84                        | %       | N/A            | 7/16/2032       | 500,000       |                 | 235,293     |                 | 248,271    |             | 1.49     | %             |
| Carlyle Global Market Strategies CLO 2014-4-R, Ltd.                                      | Structured Finance                                | 4/7/2017   | 9.89                         | %       | N/A            | 7/15/2030       | 250,000       |                 | 180,136     |                 | 149,739    |             | 0.90     | %             |
| Carlyle Global Market Strategies CLO 2017-5, Ltd.                                        | Structured Finance                                | 12/18/2017 | 8.77                         | %       | N/A            | 1/22/2030       | 500,000       |                 | 439,704     |                 | 371,492    |             | 2.22     | %             |

----

|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |               |                  |               |              |               |   |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------|----------------------------------|--------------------|----------------------|---------|---------------|-------------------------|--------------------|------------------|------------------|---------------|------------------|---------------|--------------|---------------|---|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                            |                                  |                    |                      |         |               | June 30, 2022           |
| Portfolio Company / Security Type | Industry                         | Acquisition Date   | Coupon/Yield (b) | Floor   | LegalMaturity | Principal/ Quantity | Amortized Cost (d) | Fair Value (c)   | % of  Net Assets |
| Galaxy XIX CLO, Ltd.                       | Structured Finance               | 12/5/2016  | 16.04           | %       | N/A       | 7/24/2030       | $                  | 250,000     |                  | $             | 177,029     |               | $            | 131,414  |   | 0.79  | % |
|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |
|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |
| GoldenTree Loan Opportunities IX, Ltd.(n)  | Structured Finance               | 7/19/2017  | —         | %       | N/A       | 10/29/2029      | 250,000       |                  | 173,284     |               | 141,520     |               | 0.85    | %             |
| Madison Park Funding XIII, Ltd.       | Structured Finance               | 11/6/2015  | 4.47            | %       | N/A       | 4/22/2030       | 250,000       |                  | 150,692     |               | 147,166     |               | 0.88    | %             |
| Madison Park Funding XIV, Ltd.        | Structured Finance               | 11/16/2015 | 14.39           | %       | N/A       | 10/22/2030      | 250,000       |                  | 179,237     |               | 144,010     |               | 0.86    | %             |
| Octagon Investment Partners XIV, Ltd.      | Structured Finance               | 12/1/2017  | 4.30            | %       | N/A       | 7/16/2029       | 850,000       |                  | 461,544     |               | 369,938     |               | 2.22    | %             |
| Octagon Investment Partners XV, Ltd.       | Structured Finance               | 5/23/2019  | 18.20           | %       | N/A       | 7/19/2030       | 500,000       |                  | 288,992     |               | 284,953     |               | 1.71    | %             |
| Octagon Investment Partners XXI,Ltd.(k)    | Structured Finance               | 1/6/2016   | 15.66           | %       | N/A       | 2/14/2031       | 387,538       |                  | 237,864     |               | 186,244     |               | 1.12    | %             |
| Octagon Investment Partners 30, Ltd.       | Structured Finance               | 11/16/2017 | 10.25           | %       | N/A       | 3/17/2030       | 475,000       |                  | 395,982     |               | 358,833     |               | 2.15    | %             |
| Octagon Investment Partners 31, Ltd.       | Structured Finance               | 12/20/2019 | 25.52           | %       | N/A       | 7/20/2030       | 250,000       |                  | 158,869     |               | 160,926     |               | 0.96    | %             |
| Octagon Investment Partners 36, Ltd.       | Structured Finance               | 12/20/2019 | 21.52           | %       | N/A       | 4/15/2031       | 500,000       |                  | 378,007     |               | 358,779     |               | 2.15    | %             |
| Octagon Investment Partners 39, Ltd.       | Structured Finance               | 1/9/2020   | 21.53           | %       | N/A       | 10/21/2030      | 250,000       |                  | 189,691     |               | 195,703     |               | 1.17    | %             |
| OZLM XII, Ltd. (n)                         | Structured Finance               | 1/17/2017  | —         | %       | N/A       | 4/30/2027       | 275,000       |                  | 161,899     |               | 34,795      |               | 0.21    | %             |
| Sound Point CLO II, Ltd.                   | Structured Finance               | 5/16/2019  | 9.65            | %       | N/A       | 1/26/2031       | 1,500,000     |                  | 766,586     |               | 603,543     |               | 3.61    | %             |
| Sound Point CLO VII-R, Ltd.                | Structured Finance               | 8/23/2019  | 12.73           | %       | N/A       | 10/23/2031      | 150,000       |                  | 57,604      |               | 44,636      |               | 0.27    | %             |
| Sound Point CLO XVIII, Ltd.                | Structured Finance               | 5/16/2019  | 10.66           | %       | N/A       | 1/21/2031       | 250,000       |                  | 208,570     |               | 178,152     |               | 1.07    | %             |
| THL Credit Wind River 2013-1 CLO, Ltd.     | Structured Finance               | 11/1/2017  | 2.03            | %       | N/A       | 7/22/2030       | 325,000       |                  | 224,218     |               | 165,368     |               | 0.99    | %             |
| Venture XXXIV CLO, Ltd.                    | Structured Finance               | 7/30/2019  | 17.29           | %       | N/A       | 10/15/2031      | 250,000       |                  | 209,499     |               | 191,174     |               | 1.14    | %             |
| Voya IM CLO 2013-1, Ltd.(k)                | Structured Finance               | 6/9/2016   | 6.58            | %       | N/A       | 10/15/2030      | 278,312       |                  | 179,004     |               | 135,487     |               | 0.81    | %             |
| Voya CLO 2016-1, Ltd.                      | Structured Finance               | 1/22/2016  | 12.98           | %       | N/A       | 1/21/2031       | 250,000       |                  | 197,172     |               | 182,865     |               | 1.09    | %             |
| Total Structured Subordinated Notes        |                                  |                    |                      |         | $             | 5,991,806          |                    | $                | 5,126,749   |               | 30.71       | %             |
|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |
| Equity/Other(a)(i)(l)                  |                                  |                    |                      |         |               |                         |                    |                  |                  |
| ACON IWP Investors I, L.L.C. (h)           | Healthcare & Pharmaceuticals | 4/30/2015  | N/A              | N/A | N/A       | 472,357            |                    | $                | 472,357     |               | $                | 641,000  |              | 3.84     | % |
| FullBeauty Brands Holding, Common Stock(h) | Retail                           | 2/7/2019   | N/A              | N/A | N/A       | 72                 |                    | 208,754     |                  | —  |                  | —  | %            |
| Total Equity/Other                     |                                  |                    |                      |         | $             | 681,111            |                    | $                | 641,000     |               | 3.84        | %             |
|                                            |                                  |                    |                      |         |               |                         |                    |                  |                  |
| Total Portfolio Investments                |                                  |                    |                      |         |               |                         | $                  | 38,560,109  |                  | $             | 35,809,997  |               | 214.43  | %             |

----

|                                                                                    |  |                                 |  |                                      |  |                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------|--|---------------------------------|--|--------------------------------------|--|------------------------------------------------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                                                  |  | Investment                      |  | Follow-On Acquisition Dates          |  | Follow-On Acquisitions (Excluding initial investment cost) |
| Amerilife Holdings, LLC                                                            |  | Senior Secured Loans-First Lien |  | 11/2/2020                    |  | 85,227                                                |  |
| Aventiv Technologies, LLC (f/k/a Securus Technologies Holdings, Inc.)      |  | Senior Secured Loans-First Lien |  | 8/2/2019                     |  | 908,750                                               |  |
| CareerBuilder, LLC                                                                 |  | Senior Secured Loans-First Lien |  | 6/5/2020                     |  | 690,000                                               |  |
| Octagon Investment Partners XXI, Ltd.                                              |  | Structured Subordinated Notes   |  | 2/14/2019                    |  | 35,015                                                |  |
| Rocket Software, Inc.                                                              |  | Senior Secured Loans-First Lien |  | 6/28/2019, 7/30/2019 |  | 1,327,272                                             |  |
| Staples, Inc.                                                                      |  | Senior Secured Loans-First Lien |  | 2/3/2020                     |  | 980,031                                               |  |
| ViaPath Technologies (f/k/a Global Tel*Link Corporation)                   |  | Senior Secured Loans-First Lien |  | 7/9/2019, 7/16/2019  |  | 1,436,250                                             |  |
| Voya IM CLO 2013-1, Ltd.                                                           |  | Structured Subordinated Notes   |  | 10/17/2017, 7/1/2019 |  | 20,584                                                |  |
| Wellpath Holdings, Inc. (f/k/a Correct Care Solutions Group Holdings, LLC) |  | Senior Secured Loans-First Lien |  | 4/10/2019, 7/25/2019 |  | 1,327,000                                             |  |

|                      |                             |                        |                         |                              |                             |                |                |               |                            |   |               |  |               |               |               |   |               |  |   |               |  |   |               |  |   |               |  |  |  |
|----------------------|-----------------------------|------------------------|-------------------------|------------------------------|-----------------------------|----------------|----------------|---------------|----------------------------|---|---------------|--|---------------|---------------|---------------|---|---------------|--|---|---------------|--|---|---------------|--|---|---------------|--|--|--|
| Affiliated Companies | Fair Value at June 30, 2021 | Gross Additions (Cost) | Gross Reductions (Cost) | Net unrealizedgains (losses) | Fair Value at June 30, 2022 | Interestincome | Dividendincome | Otherincome   | Net realizedgains (losses) |
|                      |                             |                        |                         |                              |                             |                |                |               |                            |
|                      | —                |                        | —            |                              | —                |                | —   |               | —               |   | —  |  | —  |               | —  |   | —  |  |
| Total                | $                           | —           |                         | $                            | —                |                | $              | —  |                            | $ | —  |  | $             | —  |               | $ | —  |  | $ | —  |  | $ | —  |  | $ | —  |  |

----

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|                                                       |                                      |        |                                    |               |        |          |              |           |   |               |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------|--------------------------------------|--------|------------------------------------|---------------|--------|----------|--------------|-----------|---|---------------|--|--|--|--|--|--|--|--|--|--|
|                                                       | Three Months Ended December 31, 2022 |        | Six Months Ended December 31, 2022 |               |
|                                                       | PFLOAT Class A Common Shares         |        | PFLOAT Class A Common Shares       |               |
|                                                       | Shares                               | Amount |                                    | Shares        | Amount |          |
| Shares issued through reinvestment of distributions   | 19,727                          |        | $                                  | 133,748  |        |          | 40,904  |           | $ | 287,029  |  |  |
| Repurchase of common shares                           | (23,434)                             |        | (155,832)                          |               |        | (45,252) |              | (308,337) |   |               |
| Net (decrease)/increase from capital transactions | (3,707)                              |        | $                                  | (22,084)      |        |          | (4,348)      |           | $ | (21,308)      |  |  |

|                                                       |                                      |        |                                    |               |        |          |              |           |   |               |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------|--------------------------------------|--------|------------------------------------|---------------|--------|----------|--------------|-----------|---|---------------|--|--|--|--|--|--|--|--|--|--|
|                                                       | Three Months Ended December 31, 2021 |        | Six Months Ended December 31, 2021 |               |
|                                                       | PFLOAT Class A Common Shares         |        | PFLOAT Class A Common Shares       |               |
|                                                       | Shares                               | Amount |                                    | Shares        | Amount |          |
| Shares issued through reinvestment of distributions   | 20,627                          |        | $                                  | 170,541  |        |          | 44,411  |           | $ | 369,886  |  |  |
| Repurchase of common shares                           | (24,286)                             |        | (200,121)                          |               |        | (48,367) |              | (400,716) |   |               |
| Net (decrease)/increase from capital transactions | (3,659)                              |        | $                                  | (29,580)      |        |          | (3,956)      |           | $ | (30,830)      |  |  |

----

----

|                                                    |  |                           |  |                   |  |                                                   |          |                            |   |                                                    |            |  |  |               |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|--|---------------------------|--|-------------------|--|---------------------------------------------------|----------|----------------------------|---|----------------------------------------------------|------------|--|--|---------------|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Quarterly Offer Date                          |  | Repurchase Effective Date |  | SharesRepurchased |  | Percentage of SharesTendered That WereRepurchased |          | Repurchase Price Per Share |   | AggregateConsideration forRepurchased Shares  |
| Three months ended December 31, 2022               |  |                           |  |                   |  |                                                   |
| December 31, 2022                                  |  | November 7, 2022          |  | 23,434       |  |                                                   | 11  | %                          |   | $                                                  | 6.65  |  |  | $             | 155,832  |  |
| Total for the three months ended December 31, 2022 |  | 23,434               |  |                   |  |                                                   |          |                            | $ | 155,832                                       |            |
|                                                    |  |                           |  |                   |  |                                                   |          |                            |   |                                                    |
| Six months ended December 31, 2022                 |  |                           |  |                   |  |                                                   |
| December 31, 2022                                  |  | November 7, 2022          |  | 23,434       |  |                                                   | 11  | %                          |   | $                                                  | 6.65  |  |  | $             | 155,832  |  |
| September 30, 2022                                 |  | August 1, 2022            |  | 21,818       |  |                                                   | 9   | %                          |   | $                                                  | 6.99  |  |  | 152,505  |               |
| Total for the six months ended December 31, 2022   |  | 45,252               |  |                   |  |                                                   |          |                            | $ | 308,337                                       |            |
|                                                    |  |                           |  |                   |  |                                                   |          |                            |   |                                                    |
| Year ended June 30, 2022                           |  |                           |  |                   |  |                                                   |
| September 30, 2021                                 |  | August 2, 2021            |  | 24,081       |  |                                                   | 10  | %                          |   | $                                                  | 8.33  |  |  | $             | 200,595  |  |
| December 31, 2021                                  |  | November 4, 2021          |  | 24,286       |  |                                                   | 11  | %                          |   | $                                                  | 8.24  |  |  | 200,121  |               |
| March 31, 2022                                     |  | February 1, 2022          |  | 23,462       |  |                                                   | 12  | %                          |   | $                                                  | 8.13  |  |  | 190,747  |               |
| June 30, 2022                                      |  | May 9, 2022               |  | 23,198       |  |                                                   | 10  | %                          |   | $                                                  | 7.87  |  |  | 182,571  |               |
| Total for the year ended June 30, 2022             |  | 95,027               |  |                   |  |                                                   |          |                            | $ | 774,034                                       |            |
|                                                    |  |                           |  |                   |  |                                                   |          |                            |   |                                                    |
| Year ended June 30, 2021                           |  |                           |  |                   |  |                                                   |
| September 30, 2020                                 |  | July 22, 2020             |  | 28,786       |  |                                                   | 44  | %                          |   | $                                                  | 8.25  |  |  | $             | 237,488  |  |
| December 31, 2020                                  |  | November 2, 2020          |  | 26,986       |  |                                                   | 15  | %                          |   | $                                                  | 8.49  |  |  | 229,113  |               |
| March 31, 2021                                     |  | February 10, 2021         |  | 21,588       |  |                                                   | 10  | %                          |   | $                                                  | 8.90  |  |  | 192,133  |               |
| June 30, 2021                                      |  | May 10, 2021              |  | 23,665       |  |                                                   | 11  | %                          |   | $                                                  | 8.50  |  |  | 201,149  |               |
| Total for the year ended June 30, 2021             |  | 101,025              |  |                   |  |                                                   |          |                            | $ | 859,883                                       |            |
|                                                    |  |                           |  |                   |  |                                                   |          |                            |   |                                                    |

----

----

----

----

----

----

|                    |                                          |                                          |                                       |                         |                              |                               |          |          |                    |  |  |  |  |  |  |  |  |  |  |  |
|--------------------|------------------------------------------|------------------------------------------|---------------------------------------|-------------------------|------------------------------|-------------------------------|----------|----------|--------------------|--|--|--|--|--|--|--|--|--|--|--|
| Period Ended       | Former ELA Reimbursement Payable to PFIM | Former ELA Reimbursement Payment to PFIM | Unreimbursed Former ELA Reimbursement | Operating Expense Ratio | Annualized Distribution Rate | Eligible to be Repaid Through |
| December 31, 2019  | 182,205                             |                                          | —                          |                         | 182,205                 |                               | 3.68%    | 6.00%    | December 31, 2022  |
| March 31, 2020     | 185,935                             |                                          | —                          |                         | 185,935                 |                               | 3.39%    | 7.00%    | March 31, 2023     |
| June 30, 2020      | 182,915                             |                                          | —                          |                         | 182,915                 |                               | 3.76%    | 7.00%    | June 30, 2023      |
| September 30, 2020 | 183,386                             |                                          | —                          |                         | 183,386                 |                               | 4.33%    | 7.00%    | September 30, 2023 |
| December 31, 2020  | —                             |                                          | —                          |                         | —                 |                               | —% | —% | N/A            |
| March 31, 2021     | —                             |                                          | —                          |                         | —                 |                               | —% | —% | N/A            |
| June 30, 2021      | —                             |                                          | —                          |                         | —                 |                               | —% | —% | N/A            |
| Total              | $                                        | 734,441                             |                                       |                         | $                            | 734,441                  |          |          |                    |  |

----

|                    |                                          |                                          |                                |                         |                              |                               |       |               |                    |       |       |               |  |  |  |  |  |  |  |  |
|--------------------|------------------------------------------|------------------------------------------|--------------------------------|-------------------------|------------------------------|-------------------------------|-------|---------------|--------------------|-------|-------|---------------|--|--|--|--|--|--|--|--|
| Period Ended       | ELA Reimbursement Payable to the Adviser | ELA Reimbursement Payment to the Adviser | Unreimbursed ELA Reimbursement | Operating Expense Ratio | Annualized Distribution Rate | Eligible to be Repaid Through |
| June 30, 2021      | $                                        | 144,073                             |                                | $                       | —                 |                               | $     | 144,073  |                    | 4.04% | 8.11% | June 30, 2024 |
| September 30, 2021 | 182,198                             |                                          | —                   |                         | 182,198                 |                               | 2.97% | 7.08%         | September 30, 2024 |
| December 31, 2021  | 184,999                             |                                          | —                   |                         | 184,999                 |                               | 3.00% | 7.10%         | December 31, 2024  |
| March 31, 2022     | 125,720                             |                                          | —                   |                         | 125,720                 |                               | 2.70% | 7.22%         | March 31, 2025     |
| June 30, 2022      | 118,220                             |                                          | —                   |                         | 118,220                 |                               | 3.52% | 7.87%         | June 30, 2025      |
| September 30, 2022 | 112,434                             |                                          | —                   |                         | 112,434                 |                               | 3.48% | 7.38%         | September 30, 2025 |
| December 31, 2022  | 105,950                             |                                          | —                   |                         | 105,950                 |                               | 3.30% | 7.49%         | December 31, 2025  |
| Total              | $                                        | 973,594                             |                                |                         | $                            | 973,594                  |       |               |                    |       |

----

|                                                  |  |                                         |                                                  |               |   |               |  |  |  |  |  |  |  |  |
|--------------------------------------------------|--|-----------------------------------------|--------------------------------------------------|---------------|---|---------------|--|--|--|--|--|--|--|--|
|                                                  |  | Distributions                           |                                                  |
| For the Six Months Ended                         |  | PFLOAT Class A Common Shares, per share | PFLOAT Class A Common Shares, Amount Distributed |               |
| December 31, 2022                                |  |                                         |                                                  |               |
| July 29, 2022                                    |  | $                                       | 0.05305                                     |               | $ | 126,365  |  |  |
| August 26, 2022                                  |  | 0.04244                            |                                                  | 100,522  |   |               |
| September 30, 2022                               |  | 0.04720                            |                                                  | 112,104  |   |               |
| October 28, 2022                                 |  | 0.03776                            |                                                  | 89,974   |   |               |
| November 25, 2022                                |  | 0.03580                            |                                                  | 84,685   |   |               |
| December 30, 2022                                |  | 0.04475                            |                                                  | 106,126  |   |               |
| Total for the Six Months Ended December 31, 2022 |  |                                         | $                                                | 619,776  |   |               |
|                                                  |  |                                         |                                                  |               |

|                                                  |  |                                         |                                                  |               |   |               |  |  |  |  |  |  |  |  |
|--------------------------------------------------|--|-----------------------------------------|--------------------------------------------------|---------------|---|---------------|--|--|--|--|--|--|--|--|
|                                                  |  | Distributions                           |                                                  |
| For the Six Months Ended                         |  | PFLOAT Class A Common Shares, per share | PFLOAT Class A Common Shares, Amount Distributed |               |
| December 31, 2021                                |  |                                         |                                                  |               |
| July 2, 9, 16, 23, and 30, 2021                  |  | $                                       | 0.06505                                     |               | $ | 155,328  |  |  |
| August 6, 13, 20, and 27, 2021                   |  | 0.05204                            |                                                  | 123,740  |   |               |
| September 3, 10, 17, and 24, 2021                |  | 0.04488                            |                                                  | 107,115  |   |               |
| October 1, 8, 15, 22, and 29, 2021               |  | 0.05610                            |                                                  | 133,979  |   |               |
| November 5, 12, 19, and 26, 2021                 |  | 0.04488                            |                                                  | 106,670  |   |               |
| December 3, 10, 17, 24 and 31, 2021              |  | 0.05545                            |                                                  | 132,137  |   |               |
| Total for the Six Months Ended December 31, 2021 |  |                                         | $                                                | 758,969  |   |               |
|                                                  |  |                                         |                                                  |               |

|                  |        |                  |        |                                         |        |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------|--------|------------------|--------|-----------------------------------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
| Record Date      |   | Payment date     |   | PFLOAT Class A Common Shares, per share |   |
| January 27, 2023 |        | February 3, 2023 |        | $0.03580                                |   |

----

|                                          |  |                      |                 |                   |               |   |                 |  |     |  |  |  |  |  |  |  |  |
|------------------------------------------|--|----------------------|-----------------|-------------------|---------------|---|-----------------|--|-----|--|--|--|--|--|--|--|--|
|                                          |  | Tax Year Ended       |                 |
|                                     |  | December 31, 2022(1) |                 | December 31, 2021 |               |
| Ordinary income                          |  | $                    | 1,195,912  |                   |               | $ | 647,336    |  |     |
| Return of capital                        |  | 131,777         |                 |                   | 926,844  |   |                 |
| Total distributions paid to stockholders |  | $                    | 1,327,689  |                   | (2)           | $ | 1,574,180  |  | (3) |

----

|                                                                 |  |                                  |               |                                  |               |   |                 |  |  |  |  |  |  |  |
|-----------------------------------------------------------------|--|----------------------------------|---------------|----------------------------------|---------------|---|-----------------|--|--|--|--|--|--|--|
|                                                            |  | Tax Year Ended December 31, 2022 |               | Tax Year Ended December 31, 2021 |
| Net increase (decrease) in net assets resulting from operations |  | $                                | (3,303,225)   |                                  |               | $ | 483,361    |  |
| Net realized (gains) losses on investments                      |  | 147,942                     |               |                                  | 41,280   |   |
| Net change in unrealized (gains) losses on investments          |  | 3,461,044                   |               |                                  | 124,952  |   |
| Other temporary book-to-tax differences                         |  | 104,020                     |               |                                  | 231,758  |   |
| Permanent differences                                           |  | 155,829                     |               |                                  | 318,847  |   |
| Taxable income (loss) before deductions for distributions       |  | $                                | 565,610  |                                  | (1)           | $ | 1,200,198  |  |

----

|                                                                                                                                                                              |        |                                  |                  |                           |                 |                                          |                  |          |        |           |   |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|------------------|---------------------------|-----------------|------------------------------------------|------------------|----------|--------|-----------|---|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                         |   | December 31, 2022                |
|                                                                                                                                                                         |   | Investments at Amortized Cost(1) |             | Investments at Fair Value |            | Fair Value Percentage of Total Portfolio |
| Senior Secured Loans-First Lien                                                                                                                                              |   | $                                | 28,491,385  |                           |            | $                                        | 26,113,088  |          |   | 81   | % |
| Senior Secured Loans-Second Lien                                                                                                                                             |   | 497,038                     |                  |                      | 467,500    |                                          |             | 1   | %      |
| Senior Secured Notes                                                                                                                                                         |   | 753,146                     |                  |                      | 351,447    |                                          |             | 1   | %      |
| Structured Subordinated Notes                                                                                                                                                |   | 5,923,114                   |                  |                      | 4,761,868  |                                          |             | 15  | %      |
| Equity/Other                                                                                                                                                             |   | 670,383                     |                  |                      | 523,875    |                                          |             | 2   | %      |
| Total Portfolio Investments                                                                                                                                                  |   | $                                | 36,335,066  |                           |            | $                                        | 32,217,778  |          |   | 100  | % |
|                                                                                                                                                                              |        |                                  |                  |                           |                 |                                          |
|                                                                                                                                                                              |        |                                  |                  |                           |                 |                                          |
|                                                                                                                                                                              |        | June 30, 2022                    |
|                                                                                                                                                                              |        | Investments at Amortized Cost(1) |                  | Investments at Fair Value |                 | Fair Value Percentage of Total Portfolio |
| Senior Secured Loans-First Lien                                                                                                                                              |        | $                                | 30,375,126  |                           |                 | $                                        | 28,880,784  |          |        | 81   | % |
| Senior Secured Loans-Second Lien                                                                                                                                             |        | 507,496                     |                  |                           | 511,464    |                                          |                  | 1   | %      |
| Senior Secured Notes                                                                                                                                                         |        | 1,004,570                   |                  |                           | 650,000    |                                          |                  | 2   | %      |
| Structured Subordinated Notes                                                                                                                                                |        | 5,991,806                   |                  |                           | 5,126,749  |                                          |                  | 14  | %      |
| Equity/Other                                                                                                                                                             |        | 681,111                     |                  |                           | 641,000    |                                          |                  | 2   | %      |
| Total Portfolio Investments                                                                                                                                                  |        | $                                | 38,560,109  |                           |                 | $                                        | 35,809,997  |          |        | 100  | % |
|                                                                                                                                                                              |        |                                  |                  |                           |                 |                                          |
| (1) Amortized cost represents the original cost adjusted for PIK interest and the amortization of premiums and/or accretion of discounts, as applicable, on investments. |

----

|                                                   |        |                           |                  |                         |          |           |   |  |  |  |  |  |  |  |
|---------------------------------------------------|--------|---------------------------|------------------|-------------------------|----------|-----------|---|--|--|--|--|--|--|--|
|                                              |   | December 31, 2022         |
| Industry                                          |   | Investments at Fair Value |             | Percentage of Portfolio |
| Structured Finance                                |        | $                         | 4,761,868   |                         |          | 15   | % |
| Healthcare & Pharmaceuticals                  |        | 3,884,219            |                  |                         | 12  | %         |
| Services: Consumer                            |        | 3,458,793            |                  |                         | 11  | %         |
| Telecommunications                                |        | 3,323,243            |                  |                         | 10  | %         |
| Services: Business                            |        | 3,119,991            |                  |                         | 10  | %         |
| Media: Broadcasting & Subscription        |        | 1,965,631            |                  |                         | 6   | %         |
| High Tech Industries                              |        | 1,950,209            |                  |                         | 6   | %         |
| Beverage, Food & Tobacco                      |        | 1,910,060            |                  |                         | 6   | %         |
| Consumer goods: Durable                       |        | 1,869,733            |                  |                         | 6   | %         |
| Wholesale                                         |        | 1,808,222            |                  |                         | 6   | %         |
| Media: Diversified and Production             |        | 1,386,244            |                  |                         | 4   | %         |
| Automotive                                        |        | 1,228,102            |                  |                         | 4   | %         |
| Consumer goods: Non-Durable                   |        | 719,641              |                  |                         | 2   | %         |
| Media: Advertising, Printing & Publishing |        | 467,500              |                  |                         | 1   | %         |
| Financial                                         |        | 351,447              |                  |                         | 1   | %         |
| Retail                                            |        | 12,875               |                  |                         | 0 %      |
| Total                                             |   | $                         | 32,217,778  |                         |     | 100  | % |
|                                                   |        |                           |                  |                         |
|                                                   |        | June 30, 2022             |
| Industry                                          |        | Investments at Fair Value |                  | Percentage of Portfolio |
| Structured Finance                                |        | $                         | 5,126,749   |                         |          | 14   | % |
| Healthcare & Pharmaceuticals                  |        | 4,053,779            |                  |                         | 11  | %         |
| Telecommunications                                |        | 3,616,257            |                  |                         | 10  | %         |
| Services: Consumer                            |        | 3,614,230            |                  |                         | 10  | %         |
| Services: Business                            |        | 3,272,314            |                  |                         | 9   | %         |
| Beverage, Food & Tobacco                      |        | 2,385,703            |                  |                         | 7   | %         |
| High Tech Industries                              |        | 2,378,482            |                  |                         | 7   | %         |
| Media: Broadcasting & Subscription        |        | 1,960,080            |                  |                         | 6   | %         |
| Consumer goods: Durable                       |        | 1,911,603            |                  |                         | 5   | %         |
| Wholesale                                         |        | 1,760,222            |                  |                         | 5   | %         |
| Media: Diversified and Production             |        | 1,702,829            |                  |                         | 5   | %         |
| Automotive                                        |        | 1,217,087            |                  |                         | 3   | %         |
| Consumer goods: Non-Durable                   |        | 914,067              |                  |                         | 3   | %         |
| Banking, Finance, Insurance & Real Estate     |        | 735,131              |                  |                         | 2   | %         |
| Financial                                         |        | 650,000              |                  |                         | 2   | %         |
| Media: Advertising, Printing & Publishing |        | 501,250              |                  |                         | 1   | %         |
| Retail                                            |        | 10,214               |                  |                         | 0 %      |
| Total                                             |        | $                         | 35,809,997  |                         |          | 100  | % |
|                                                   |        |                           |                  |                         |

----

|                                  |        |                         |               |         |               |         |                 |                 |        |        |                  |  |        |   |                  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------|--------|-------------------------|---------------|---------|---------------|---------|-----------------|-----------------|--------|--------|------------------|--|--------|---|------------------|--|--|--|--|--|--|--|--|--|--|--|
|                             |   | As of December 31, 2022 |
|                             |   | Level 1                 |          | Level 2 |          | Level 3 |            | Total           |
| Portfolio Investments            |   |                    |          |    |          |    |            |            |
| Senior Secured Loans-First Lien  |   | $                       | —  |         |          | $       | 4,682,132  |                 |   | $      | 21,430,956  |  |        | $ | 26,113,088  |  |
| Senior Secured Loans-Second Lien |   | —            |               |    | —  |         |            | 467,500    |        |        | 467,500     |  |
| Senior Secured Notes             |   | —            |               |    | 351,447  |         |            | —    |        |   | 351,447     |  |
| Structured Subordinated Notes    |   | —            |               |    | —  |         |            | 4,761,868  |        |        | 4,761,868   |  |
| Equity/Other                 |   | —            |               |    | —  |         |            | 523,875    |        |   | 523,875     |  |
| Total Portfolio Investments      |   | $                       | —  |         |          | $       | 5,033,579  |                 |   | $      | 27,184,199  |  |   | $ | 32,217,778  |  |
|                                  |        |                         |               |         |               |         |                 |                 |
|                                  |        | As of June 30, 2022     |
|                                  |        | Level 1                 |               | Level 2 |               | Level 3 |                 | Total           |
| Portfolio Investments            |        |                         |               |         |               |         |                 |                 |
| Senior Secured Loans-First Lien  |        | $                       | —  |         |               | $       | 8,929,159  |                 |        | $      | 19,951,625  |  |        | $ | 28,880,784  |  |
| Senior Secured Loans-Second Lien |        | —            |               |         | —  |         |                 | 511,464    |        |        | 511,464     |  |
| Senior Secured Notes             |        | —            |               |         | 650,000  |         |                 | —    |        |        | 650,000     |  |
| Structured Subordinated Notes    |        | —            |               |         | —  |         |                 | 5,126,749  |        |        | 5,126,749   |  |
| Equity/Other                 |        | —            |               |         | —  |         |                 | 641,000    |        |        | 641,000     |  |
| Total Portfolio Investments      |        | $                       | —  |         |               | $       | 9,579,159  |                 |        | $      | 26,230,838  |  |        | $ | 35,809,997  |  |
|                                  |        |                         |               |         |               |         |                 |                 |

----

----

----

|                                  |                   |                  |                 |                  |                |                  |          |   |                 |                  |                 |   |                  |  |  |          |                  |  |  |           |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------|-------------------|------------------|-----------------|------------------|----------------|------------------|----------|---|-----------------|------------------|-----------------|---|------------------|--|--|----------|------------------|--|--|-----------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                             | December 31, 2022 |                  | June 30, 2022   |
|                             | Cost              |                  | Fair Value |                  | % of Portfolio |                  | Cost     |   | Fair Value |                  | % of  Portfolio |
| Healthcare & Pharmaceuticals | $                 | 3,952,662   |                 |                  | $              | 3,884,219   |          |   | 12         | %                |                 | $ | 3,966,383   |  |  | $        | 4,053,779   |  |  | 11   | % |
| Services: Consumer           | 3,824,678    |                  |                 | 3,458,793   |                |                  | 11  | % |                 | 3,917,659   |                 |   | 3,614,230   |  |  | 10  | %                |
| Telecommunications               | 3,762,231    |                  |                 | 3,323,243   |                |                  | 10  | % |                 | 3,759,421   |                 |   | 3,616,257   |  |  | 10  | %                |
| All Other Industries             | 24,795,495   |                  |                 | 21,551,523  |                |                  | 67  | % |                 | 26,916,646  |                 |   | 24,525,731  |  |  | 69  | %                |
| Total                            | $                 | 36,335,066  |                 |                  | $              | 32,217,778  |          |   | 100        | %                |                 | $ | 38,560,109  |  |  | $        | 35,809,997  |  |  | 100  | % |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |        |                                                                            |                  |                                 |               |                             |               |                  |        |        |                 |  |        |                 |               |  |        |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------|------------------|---------------------------------|---------------|-----------------------------|---------------|------------------|--------|--------|-----------------|--|--------|-----------------|---------------|--|--------|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |        | Non-Control/Non-Affiliate Investments (less than 5.00% voting control) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | SeniorSecuredLoans -First Lien                                             |                  | SeniorSecuredLoans -Second Lien |               | StructuredSubordinatedNotes |               | Equity/Other |   | Total  |
| Fair Value at June 30, 2022                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                                                                          | 19,951,625  |                                 |               | $                           | 511,464  |                  |        | $      | 5,126,749  |  |        | $               | 641,000  |  |   | $ | 26,230,838  |  |
| Net realized gains on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | —                                                               |                  |                                 | —  |                             |               | —     |        |        | —    |  |   | —    |               |
| Net change in unrealized gains (losses) on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (668,409)                                                                  |                  |                                 | (33,506)      |                             |               | (296,188)        |        |        | (106,397)       |  |   | (1,104,500)     |               |
| Net realized and unrealized gains (losses) on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |        | (668,409)                                                                  |                  |                                 | (33,506)      |                             |               | (296,188)        |        |        | (106,397)       |  |        | (1,104,500)     |               |
| Purchases of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | —                                                               |                  |                                 | —  |                             |               | —     |        |        | —    |  |   | —    |               |
| Payment-in-kind interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |        | —                                                               |                  |                                 | 162      |                             |               | —     |        |        | —    |  |        | 162        |               |
| Accretion (amortization) of purchase discount and premium, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 34,021                                                                |                  |                                 | 2,722    |                             |               | (68,693)         |        |        | —    |  |   | (31,950)        |               |
| Repayments and sales of portfolio investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |        | (1,900,887)                                                                |                  |                                 | (13,342)      |                             |               | —     |        |        | (10,728)        |  |        | (1,924,957)     |               |
| Transfers into Level 3(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |        | 5,422,493                                                             |                  |                                 | —  |                             |               | —     |        |        | —    |  |        | 5,422,493  |               |
| Transfers out of Level 3(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |        | (1,407,887)                                                                |                  |                                 | —  |                             |               | —     |        |        | —    |  |        | (1,407,887)     |               |
| Fair Value at December 31, 2022                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $                                                                          | 21,430,956  |                                 |               | $                           | 467,500  |                  |        | $      | 4,761,868  |  |        | $               | 523,875  |  |   | $ | 27,184,199  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                       |                  |                            |               |                        |               |             |   |   |
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $                                                                          | (678,500)        |                                 |               | $                           | (34,390)      |                  |        | $      | (296,188)       |  |        | $               | (106,397)     |  |   | $ | (1,115,475)      |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |        |                                                                            |                  |                                 |               |                             |               |                  |        |        |
| (1)Transfers are assumed to have occurred at the beginning of the quarter during which the asset was transferred. During the six months ended December 31, 2022, three of our first lien loans transferred out of Level 2 to Level 3 due to a less significant level of market activity during the period and thus for these investments there were less observable inputs such as trades from independent pricing services. During the six months ended December 31, 2022, one of our first lien loans transferred out of Level 3 to Level 2 due a more significant level of market activity during the period and thus this investment was valued using observable inputs such as trades from an independent pricing service. |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |        |                                                                            |                  |                                 |               |                      |               |                             |  |                  |               |        |  |               |                 |        |                 |   |               |  |        |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------|------------------|---------------------------------|---------------|----------------------|---------------|-----------------------------|--|------------------|---------------|--------|--|---------------|-----------------|--------|-----------------|---|---------------|--|--------|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |        | Non-Control/Non-Affiliate Investments (less than 5.00% voting control) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | SeniorSecuredLoans -First Lien                                             |                  | SeniorSecuredLoans -Second Lien |               | Senior Secured Notes |               | StructuredSubordinatedNotes |  | Equity/Other |          | Total  |
| Fair Value at June 30, 2021                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $                                                                          | 23,105,139  |                                 |               | $                    | 495,856  |                             |  | $                | 951,073  |        |  | $             | 5,626,202  |        |                 | $ | 893,000  |  |   | $ | 31,071,270  |  |
| Net realized gains on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | —                                                               |                  |                                 | —  |                      |               | —                |  |                  | —  |        |  | —  |                 |   | —    |   |
| Net change in unrealized gains (losses) on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | (210,825)                                                                  |                  |                                 | 16,836   |                      |               | 22,804                 |  |                  | 90,941   |        |  | (211,000)     |                 |   | (291,244)       |   |
| Net realized and unrealized gains (losses) on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |        | (210,825)                                                                  |                  |                                 | 16,836   |                      |               | 22,804                 |  |                  | 90,941   |        |  | (211,000)     |                 |        | (291,244)       |   |
| Purchases of investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 7,241,508                                                             |                  |                                 | —  |                      |               | —                |  |                  | —  |        |  | —  |                 |   | 7,241,508  |   |
| Payment-in-kind interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |        | —                                                               |                  |                                 | 385      |                      |               | —                |  |                  | —  |        |  | —  |                 |        | 385        |   |
| Accretion (amortization) of purchase discount and premium, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 134,508                                                               |                  |                                 | 640      |                      |               | 26,123                 |  |                  | (185,500)     |        |  | —  |                 |   | (24,229)        |   |
| Repayments and sales of portfolio investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |        | (7,462,845)                                                                |                  |                                 | —  |                      |               | (1,000,000)                 |  |                  | —  |        |  | —  |                 |        | (8,462,845)     |   |
| Transfers into Level 3(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |        | 5,965,044                                                             |                  |                                 | —  |                      |               | —                |  |                  | —  |        |  | —  |                 |        | 5,965,044  |   |
| Transfers out of Level 3(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |        | (742,613)                                                                  |                  |                                 | —  |                      |               | —                |  |                  | —  |        |  | —  |                 |        | (742,613)       |   |
| Fair Value at December 31, 2021                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                                                                          | 28,029,916  |                                 |               | $                    | 513,717  |                             |  | $                | —  |        |  | $             | 5,531,643  |        |                 | $ | 682,000  |  |   | $ | 34,757,276  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                       |                  |                            |               |                      |               |                        |  |             |          |   |
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                                                                          | (160,750)        |                                 |               | $                    | 16,836   |                             |  | $                | 22,804   |        |  | $             | 90,941     |        |                 | $ | (211,000)     |  |   | $ | (241,169)        |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |        |                                                                            |                  |                                 |               |                      |               |                             |  |                  |               |        |
| (1)Transfers are assumed to have occurred at the beginning of the quarter during which the asset was transferred. During the quarter ended December 31, 2021, five of our first lien loans transferred out of Level 2 to Level 3 due to a less significant level of market activity during the period and thus for these investments there were less observable inputs such as trades from independent pricing services. During the six months ended December 31, 2021, one of our first lien loans transferred out of Level 3 to Level 2 due to a more significant level of market activity during the period and thus this investment was valued using observable inputs such as trades from an independent pricing service. |

|                                                                                                                                                                                                                                        |        |                  |                  |                             |                                              |                     |                          |                          |                   |                  |           |        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|------------------|-----------------------------|----------------------------------------------|---------------------|--------------------------|--------------------------|-------------------|------------------|-----------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                        |        |                  |                  |                             |                                              | Unobservable Inputs |
| Asset Category                                                                                                                                                                                                                         |   | Fair Value       |             | Primary Valuation Technique |                                         | Inputs              |                     | Range                    |              | Weighted Average |
|                                                                                                                                                                                                                                        |   |             |             |                        |                                         |                     |                     |                     |              |             |
| Senior Secured First Lien Debt                                                                                                                                                                                                         |   | $                | 2,614,160   |                             |                                         | Market quotes       |                     | Indicative dealer quotes |              | 66.25%-96.74%    |      | 89.30% |
| Senior Secured First Lien Debt                                                                                                                                                                                                         |        | 18,816,796  |                  |                             | Discounted Cash Flow (Yield Analysis)        |                     | Market Yield             |                          | 8.57%-21.19%      |                  | 11.69%    |
| Senior Secured Second Lien Debt                                                                                                                                                                                                        |   | 467,500     |                  |                        | Market quotes                                |                | Indicative dealer quotes |                     | 92.00%-95.00%     |             | 93.50%    |
| Equity/Other                                                                                                                                                                                                                       |   | 523,875     |                  |                        | Enterprise Value Waterfall (Market Approach) |                | EBITDA multiples (x)     |                     | 5.25x-8.75x       |             | 8.19x     |
| Subordinated Structured Notes                                                                                                                                                                                                          |   | 4,761,868   |                  |                        | Discounted Cash Flow                         |                | Discount Rate            |                     | 11.17%- 35.68%(1) |             | 24.97%(1) |
|                                                                                                                                                                                                                                        |        | $                | 27,184,199  |                             |                                              |                     |                          |                          |                   |                  |           |        |
| (1) Represents the implied discount rate based on our internally generated single-cash flows that is derived from the fair value estimated by the corresponding multi-path cash flow model utilized by the independent valuation firm. |

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|                                                                                                                                                                                                                                        |        |                  |                  |                             |                                              |                     |                          |                          |                  |                  |           |        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|------------------|-----------------------------|----------------------------------------------|---------------------|--------------------------|--------------------------|------------------|------------------|-----------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                        |        |                  |                  |                             |                                              | Unobservable Inputs |
| Asset Category                                                                                                                                                                                                                         |   | Fair Value       |             | Primary Valuation Technique |                                         | Inputs              |                     | Range                    |             | Weighted Average |
|                                                                                                                                                                                                                                        |   |             |             |                        |                                         |                     |                     |                     |             |             |
| Senior Secured First Lien Debt                                                                                                                                                                                                         |   | $                | 2,490,416   |                             |                                         | Market quotes       |                     | Indicative dealer quotes |             | 65.83%-95.08%    |      | 86.46% |
| Senior Secured First Lien Debt                                                                                                                                                                                                         |        | 17,461,209  |                  |                             | Discounted Cash Flow (Yield Analysis)        |                     | Market Yield             |                          | 7.59%-10.89%     |                  | 9.36%     |
| Senior Secured Second Lien Debt                                                                                                                                                                                                        |   | 511,464     |                  |                        | Market quotes                                |                | Indicative dealer quotes |                     | 75.00%-100.50%   |             | 99.8%     |
| Equity/Other                                                                                                                                                                                                                       |   | 641,000     |                  |                        | Enterprise Value Waterfall (Market Approach) |                | EBITDA multiples (x)     |                     | 7.75x-8.75x      |             | 8.25x     |
| Subordinated Structured Notes                                                                                                                                                                                                          |   | 5,126,749   |                  |                        | Discounted Cash Flow                         |                | Discount Rate            |                     | 7.02%- 33.22%(1) |             | 20.04%(1) |
|                                                                                                                                                                                                                                        |        | $                | 26,230,838  |                             |                                              |                     |                          |                          |                  |                  |           |        |
| (1) Represents the implied discount rate based on our internally generated single-cash flows that is derived from the fair value estimated by the corresponding multi-path cash flow model utilized by the independent valuation firm. |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                                 |                  |                               |                 |             |                  |                 |   |   |                  |   |  |   |                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|---------------------------------|------------------|-------------------------------|-----------------|-------------|------------------|-----------------|---|---|------------------|---|--|---|------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | Three Months Ended December 31, |                  | Six Months Ended December 31, |                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | 2022                            |                  | 2021                          |                 | 2022        |                  | 2021            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | (unaudited)                     |                  | (unaudited)                   |                 | (unaudited) |                  | (unaudited)     |   |
| Per Share Data(a):                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  |                                 |                  |                               |                 |             |                  |                 |   |
| Net asset value at beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  | $                               | 6.67        |                               |                 | $           | 8.26        |                 |   | $ | 7.03        |   |  | $ | 8.36        |  |  |
| Net investment (loss) income                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  | 0.06                       |                  |                               | 0.09       |             |                  | 0.09       |   |   | 0.28        |   |  |
| Net realized and unrealized (losses) on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  | (0.39)                          |                  |                               | (0.05)          |             |                  | (0.63)          |   |   | (0.17)           |   |  |
| Net increase (decrease) in net assets resulting from operations                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | (0.33)                          |                  |                               | 0.04       |             |                  | (0.54)          |   |   | 0.11        |   |  |
| Distributions(b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  |                                 |                  |                               |                 |             |                  |                 |   |
| Return of capital distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | (0.02)                          |                  |                               | (0.12)          |             |                  | (0.06)          |   |   | (0.19)           |   |  |
| Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | (0.10)                          |                  |                               | (0.04)          |             |                  | (0.20)          |   |   | (0.12)           |   |  |
| Total Distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  | (0.12)                          |                  |                               | (0.16)          |             |                  | (0.26)          |   |   | (0.31)           |   |  |
| Other (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | 0.01                       |                  |                               | 0.01       |             |                  | —    |   |   | (0.01)           |   |  |
| Net asset value at end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  | $                               | 6.23        |                               |                 | $           | 8.15        |                 |   | $ | 6.23        |   |  | $ | 8.15        |  |  |
| Total return based on net asset value (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | (4.93)                          | %                |                               | 0.52       | %           |                  | (7.94)          | % |   | 1.27        | % |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                                 |                  |                               |                 |             |                  |                 |   |
| Supplemental Data:                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  |                                 |                  |                               |                 |             |                  |                 |   |
| Net assets at end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  | $                               | 14,767,963  |                               |                 | $           | 19,409,709  |                 |   | $ | 14,767,963  |   |  | $ | 19,409,709  |  |  |
| Average net assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | $                               | 15,306,706  |                               |                 | $           | 19,558,967  |                 |   | $ | 15,771,462  |   |  | $ | 19,688,581  |  |  |
| Average shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |  | 2,373,798                  |                  |                               | 2,383,928  |             |                  | 2,374,492  |   |   | 2,384,784   |   |  |
| Ratio to average net assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  |                                 |                  |                               |                 |             |                  |                 |   |
| Total annual expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | 21.59                      | %                |                               | 14.88      | %           |                  | 21.08      | % |   | 14.82       | % |  |
| Total annual expenses (after expense limitation agreement)                                                                                                                                                                                                                                                                                                                                                                                                                                           |  | 18.82                      | %                |                               | 11.1       | %           |                  | 18.31      | % |   | 11.09       | % |  |
| Net investment (loss) income                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  | 3.96                       | %                |                               | 4.44       | %           |                  | 2.83       | % |   | 6.74        | % |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                                 |                  |                               |                 |             |                  |                 |   |
| Portfolio Turnover                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | —                    | %                |                               | 11.91      | %           |                  | —    | % |   | 26.75       | % |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                                 |                  |                               |                 |             |                  |                 |   |
| (a) Calculated based on weighted average shares outstanding.                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (b) The per share data for distributions is the actual amount of distributions paid or payable per share of common stock outstanding during the year. Distributions per share are rounded to the nearest $0.01.                                                                                                                                                                                                                                                                                      |
| (c)  The amount shown represents the balancing figure derived from the other figures in the schedule, and is primarily attributable to the accretive effects from the sales of the Company’s shares and the effects of share repurchases during the period.                                                                                                                                                                                                                                    |
| (d) Total return is based upon the change in net asset value per share between the opening and ending net asset values per share during the period and assumes that distributions are reinvested in accordance with the Company’s distribution reinvestment plan. The computation does not reflect the sales load for any class of shares. Total return based on market value is not presented since the Company’s shares are not publicly traded. Total return has not been annualized. |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |  |                 |                  |               |                 |               |                  |                  |        |             |                  |        |        |   |                  |  |        |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------|------------------|---------------|-----------------|---------------|------------------|------------------|--------|-------------|------------------|--------|--------|---|------------------|--|--------|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | Year Ended      |                  | Year Ended    |                 | Year Ended    |                  | Year Ended       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | June 30, 2022   |                  | June 30, 2021 |                 | June 30, 2020 |                  | June 30, 2019(e) |        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                 |                  |               |                 |               |                  |                  |   |
| Per Share Data(a):                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  |                 |                  |               |                 |               |                  |             |   |
| Net asset value at beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | $               | 8.36        |               |                 | $             | 8.28        |                  |        | $           | 9.88        |        |        | $ | 9.89        |  |   |
| Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                              |  | 0.31       |                  |               | (0.08)          |               |                  | 0.24        |        |             | 0.91        |        |   |
| Net realized and unrealized (losses) gains on investments                                                                                                                                                                                                                                                                                                                                                                                                                 |  | (1.05)          |                  |               | 0.82       |               |                  | (1.22)           |        |             | (1.11)           |        |   |
| Net increase (decrease) in net assets resulting from operations                                                                                                                                                                                                                                                                                                                                                                                                           |  | (0.74)          |                  |               | 0.74       |               |                  | (0.98)           |        |             | (0.20)           |        |   |
| Distributions(b)                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  |                 |                  |               |                 |               |                  |             |   |
| Return of capital distributions(f)                                                                                                                                                                                                                                                                                                                                                                                                                                        |  | (0.16)          |                  |               | (0.46)          |               |                  | (0.57)           |        |             | (0.54)           |        |   |
| Distributions from net investment income(f)                                                                                                                                                                                                                                                                                                                                                                                                                               |  | (0.43)          |                  |               | (0.19)          |               |                  | (0.15)           |        |             | (0.03)           |        |   |
| Total Distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  | (0.59)          |                  |               | (0.65)          |               |                  | (0.72)           |        |             | (0.57)           |        |   |
| Offering costs                                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | —    |                  |               | —    |               |                  | —     |        |             | 0.61        |        |   |
| Other (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | —    |                  |               | (0.01)          |               |                  | 0.10        |        |             | 0.15        |        |   |
| Net asset value at end of year                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | $               | 7.03        |               |                 | $             | 8.36        |                  |        | $           | 8.28        |        |        | $ | 9.88        |  |   |
| Total return based on net asset value (d)                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | (9.60)          | %                |               | 9.03       | %             |                  | (10.13)          | %      |             | 7.52        | %      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                 |                  |               |                 |               |                  |                  |   |
| Supplemental Data:                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  |                 |                  |               |                 |               |                  |                  |   |
| Net assets at end of year                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | $               | 16,700,975  |               |                 | $             | 19,947,807  |                  |        | $           | 19,558,400  |        |        | $ | 23,410,715  |  |   |
| Average net assets                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  | $               | 18,912,658  |               |                 | $             | 20,055,524  |                  |        | $           | 21,234,189  |        |        | $ | 12,536,923  |  |   |
| Average shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | 2,380,229  |                  |               | 2,377,461  |               |                  | 2,366,005   |        |             | 1,297,582   |        |   |
| Ratio to average net assets:                                                                                                                                                                                                                                                                                                                                                                                                                                          |  |                 |                  |               |                 |               |                  |                  |   |
| Total annual expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  | 15.70      | %                |               | 20.07      | %             |                  | 16.41       | %      |             | 23.48       | %      |   |
| Total annual expenses (after expense support agreement/expense limitation agreement)                                                                                                                                                                                                                                                                                                                                                                                  |  | 12.47      | %                |               | 18.44      | %             |                  | 13.07       | %      |             | 9.11        | %      |   |
| Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                              |  | 3.95       | %                |               | (0.93)          | %             |                  | 2.67        | %      |             | 2.15        | %      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                 |                  |               |                 |               |                  |                  |   |
| Portfolio Turnover                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  | 35.34      | %                |               | 17.83      | %             |                  | 24.56%           |        | 93.42  | %                |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |  |                 |                  |               |                 |               |                  |                  |        |
| (a) Calculated based on weighted average shares outstanding.                                                                                                                                                                                                                                                                                                                                                                                                              |
| (b) The per share data for distributions is the actual amount of distributions paid or payable per share of common stock outstanding during the year. Distributions per share are rounded to the nearest $0.01.                                                                                                                                                                                                                                                           |
| (c)  The amount shown represents the balancing figure derived from the other figures in the schedule, and is primarily attributable to the accretive effects from the sales of the Company’s shares and the effects of share repurchases during the year.                                                                                                                                                                                                           |
| (d) Total return is based upon the change in net asset value per share between the opening and ending net asset values per share during the year and assumes that distributions are reinvested in accordance with the Company’s distribution reinvestment plan. The computation does not reflect the sales load for any class of shares. Total return based on market value is not presented since the Company’s shares are not publicly traded.              |
| (e) Data presented for the year ended June 30, 2019 includes the shareholder activity of PWAY Class A and Class I shares, prior to the Merger and conversion into shares of the Company. The net asset value per share at beginning of year has been adjusted by the exchange ratio used in the Merger.                                                                                                                                                                   |
| (f) The amounts reflected for the year ended June 30, 2022 have not been finalized. The amounts reflected for the year ended June 30, 2021 were updated based on tax information received subsequent to our Form 10-K filing for the year ended June 30, 2021. Certain reclassifications have been made in the presentation of prior period amounts. See Note 3 and Note 7 within the accompanying notes to the consolidated financial statements for further discussion. |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                              |        |                  |                 |                  |               |   |               |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|-----------------|------------------|---------------|---|---------------|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Year Ended       |                 | Year Ended       |               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |        | June 30, 2018(e) |                 | June 30, 2018(e) |               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | PWAY Class A     |                 | PWAY Class I     |               |
| Per Share Data(a):                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |                 |             |               |
| Net asset value at beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                         |   | $                | 13.53      |                  |               | $ | 13.53    |  |  |
| Net investment (loss) income                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 0.79        |                 |                  | 0.81     |   |               |
| Net realized and unrealized (losses) on investments                                                                                                                                                                                                                                                                                                                                                                                                          |   | (0.80)           |                 |                  | (0.79)        |   |               |
| Net increase (decrease) in net assets resulting from operations                                                                                                                                                                                                                                                                                                                                                                                              |   | (0.01)           |                 |                  | 0.02     |   |               |
| Distributions(b)                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |                 |             |               |
| Return of capital distributions(f)                                                                                                                                                                                                                                                                                                                                                                                                                           |   | (0.62)           |                 |                  | (0.62)        |   |               |
| Distributions from net investment income(f)                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (0.24)           |                 |                  | (0.24)        |   |               |
| Total Distributions                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (0.86)           |                 |                  | (0.86)        |   |               |
| Offering costs                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | —     |                 |                  | —  |   |               |
| Other (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 0.05        |                 |                  | 0.04     |   |               |
| Net asset value at end of year                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $                | 12.71      |                  |               | $ | 12.73    |  |  |
| Total return based on net asset value (d)                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 0.18        | %               |                  | 0.33     | % |               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             |                 |             |               |
| Supplemental Data:                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |                 |             |               |
| Net assets at end of year                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $                | 7,933,028  |                  |               | $ | 420,136  |  |  |
| Average net assets                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                | 8,314,166  |                  |               | $ | 439,787  |  |  |
| Average shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 622,683     |                 |                  | 32,914   |   |               |
| Ratio to average net assets:                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |                 |             |               |
| Total annual expenses                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 22.69       | %               |                  | 22.43    | % |               |
| Total annual expenses (after expense support agreement/expense limitation agreement)                                                                                                                                                                                                                                                                                                                                                                     |   | 8.91        | %               |                  | 8.73     | % |               |
| Net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 5.92        | %               |                  | 6.04     | % |               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             |                 |             |               |
| Portfolio Turnover                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 37.42       | %               |                  | 37.42    | % |               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                              |        |                  |                 |                  |               |
| (a) Calculated based on weighted average shares outstanding.                                                                                                                                                                                                                                                                                                                                                                                                 |
| (b) The per share data for distributions is the actual amount of distributions paid or payable per share of common stock outstanding during the year. Distributions per share are rounded to the nearest $0.01.                                                                                                                                                                                                                                              |
| (c)  The amount shown represents the balancing figure derived from the other figures in the schedule, and is primarily attributable to the accretive effects from the sales of the Company’s shares and the effects of share repurchases during the year.                                                                                                                                                                                              |
| (d) Total return is based upon the change in net asset value per share between the opening and ending net asset values per share during the year and assumes that distributions are reinvested in accordance with the Company’s distribution reinvestment plan. The computation does not reflect the sales load for any class of shares. Total return based on market value is not presented since the Company’s shares are not publicly traded. |
| (e) The per share data and total return include the shareholder activity prior to PWAY’s conversion to an interval fund. PWAY Class A Shares include the activity for Class R shares prior to such conversion and PWAY Class I Shares include activity for PWAY Class I Shares and Class RIA shares prior to such conversion.                                                                                                                     |

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|                                                                                                                                                                                                                                                                                                                      |                          |                            |                                                |                                  |             |  |               |  |               |  |  |  |  |  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------|----------------------------|------------------------------------------------|----------------------------------|-------------|--|---------------|--|---------------|--|--|--|--|--|
| Revolving Credit Facility                                                                                                                                                                                                                                                                                            | Total Amount Outstanding | Asset Coverage per Unit(1) | Involuntary Liquidating Preference per Unit(2) | Average Market Value per Unit(2) |
| December 31, 2022                                                                                                                                                                                                                                                                                                    | $                        | 17,800,000            |                                                | $                                | 1,830  |  | —  |  | —  |  |
| September 30, 2022                                                                                                                                                                                                                                                                                                   | $                        | 20,000,000            |                                                | $                                | 1,792  |  | —  |  | —  |  |
| June 30, 2022                                                                                                                                                                                                                                                                                                        | $                        | 20,500,000            |                                                | $                                | 1,815  |  | —  |  | —  |  |
| March 31, 2022                                                                                                                                                                                                                                                                                                       | $                        | 21,000,000            |                                                | $                                | 1,895  |  | —  |  | —  |  |
| December 31, 2021                                                                                                                                                                                                                                                                                                    | $                        | 21,000,000            |                                                | $                                | 1,924  |  | —  |  | —  |  |
| September 30, 2021                                                                                                                                                                                                                                                                                                   | $                        | 21,000,000            |                                                | $                                | 1,938  |  | —  |  | —  |  |
| June 30, 2021                                                                                                                                                                                                                                                                                                        | $                        | 21,000,000            |                                                | $                                | 1,950  |  | —  |  | —  |  |
| March 31, 2021                                                                                                                                                                                                                                                                                                       | $                        | 21,000,000            |                                                | $                                | 1,971  |  | —  |  | —  |  |
| December 31, 2020                                                                                                                                                                                                                                                                                                    | $                        | 21,000,000            |                                                | $                                | 1,976  |  | —  |  | —  |  |
| September 30, 2020                                                                                                                                                                                                                                                                                                   | $                        | 21,000,000            |                                                | $                                | 1,947  |  | —  |  | —  |  |
| June 30, 2020                                                                                                                                                                                                                                                                                                        | $                        | 21,000,000            |                                                | $                                | 1,931  |  | —  |  | —  |  |
| March 31, 2020                                                                                                                                                                                                                                                                                                       | $                        | 21,000,000            |                                                | $                                | 1,914  |  | —  |  | —  |  |
| December 31, 2019                                                                                                                                                                                                                                                                                                    | $                        | 21,000,000            |                                                | $                                | 2,018  |  | —  |  | —  |  |
| September 30, 2019                                                                                                                                                                                                                                                                                                   | $                        | 15,500,000            |                                                | $                                | 2,461  |  | —  |  | —  |  |
| June 30, 2019                                                                                                                                                                                                                                                                                                        | $                        | 5,500,000             |                                                | $                                | 5,256  |  | —  |  | —  |  |
|                                                                                                                                                                                                                                                                                                                      |                          |                            |                                                |                                  |
| (1) The asset coverage ratio is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by secured senior securities representing indebtedness. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage Per Unit. |
| (2) This column is inapplicable.                                                                                                                                                                                                                                                                                     |

|                                                                               |  |                                 |           |                               |                 |      |               |                 |  |   |                 |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------|--|---------------------------------|-----------|-------------------------------|-----------------|------|---------------|-----------------|--|---|-----------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|
|                                                                               |  | Three Months Ended December 31, |           | Six Months Ended December 31, |
|                                                                               |  | 2022                            |           | 2021                          |                 | 2022 |               | 2021            |
| Net (decrease)/increase in net assets resulting from operations           |  | $                               | (774,616) |                               |                 | $    | 103,850  |                 |  | $ | (1,291,928)     |  |  | $ | 251,701  |  |
| Weighted average common shares outstanding                                    |  | 2,373,798                  |           |                               | 2,383,928  |      |               | 2,374,492  |  |   | 2,384,784  |  |
| Net (decrease)/increase in net assets resulting from operations per share |  | $                               | (0.33)    |                               |                 | $    | 0.04     |                 |  | $ | (0.54)          |  |  | $ | 0.11     |  |

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|                                                                                                                                              |  |                         |                 |                                |                  |                |            |                                |                 |   |            |   |                  |  |           |   |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------------------------------------------------------|--|-------------------------|-----------------|--------------------------------|------------------|----------------|------------|--------------------------------|-----------------|---|------------|---|------------------|--|-----------|---|--|--|--|--|--|--|--|--|--|--|
|                                                                                                                                              |  | As of December 31, 2022 |                 | As of June 30, 2022            |
|                                                                                                                                              |  | Amortized Cost          | Fair Value      | As Percent of Total Fair Value |                  | Amortized Cost | Fair Value | As Percent of Total Fair Value |
| Senior Secured Loans-First Lien                                                                                                              |  | $                       | 28,491,385      | $                              | 26,113,088  |                | 81    | %                              |                 | $ | 30,375,126 | $ | 28,880,784  |  | 81   | % |
| Senior Secured Loans-Second Lien                                                                                                             |  | 497,038                 | 467,500    |                                | 1           | %              |            | 507,496                        | 511,464    |   | 1     | % |
| Equity/Other                                                                                                                             |  | 670,383                 | 523,875    |                                | 2           | %              |            | 681,111                        | 641,000    |   | 2     | % |
| Senior Secured Notes                                                                                                                         |  | 753,146                 | 351,447    |                                | 1           | %              |            | 1,004,570                      | 650,000    |   | 2     | % |
| Structured subordinated notes                                                                                                                |  | 5,923,114               | 4,761,868  |                                | 15          | %              |            | 5,991,806                      | 5,126,749  |   | 14    | % |
| Total                                                                                                                                        |  | $                       | 36,335,066      | $                              | 32,217,778  |                | 100   | %                              |                 | $ | 38,560,109 | $ | 35,809,997  |  | 100  | % |
|                                                                                                                                              |  |                         |                 |                                |                  |                |            |                                |
| Number of portfolio companies                                                                                                                |  | 21                      |                 |                                |                  | 24             |            |                                |
| Number of Structured subordinated notes                                                                                                      |  | 24                      |                 |                                |                  | 24             |            |                                |
|                                                                                                                                              |  |                         |                 |                                |                  |                |            |                                |
| % Variable Rate (based on fair value)(1)                                                                                                     |  | 99%                     |                 |                                |                  | 98%            |            |                                |
| % Fixed Rate (based on fair value)(1)                                                                                                        |  | 1                  | %               |                                |                  |                | 2     | %                              |                 |   |
|                                                                                                                                              |  |                         |                 |                                |                  |                |            |                                |
| % Weighted Average Yield Variable Rate (based on principal outstanding)(1)(2)                                                                |  | 10                 | %               |                                |                  |                | 7     | %                              |                 |   |
| % Weighted Average Yield Fixed Rate (based on principal outstanding)(1)                                                                      |  | 7                  | %               |                                |                  |                | 7     | %                              |                 |   |
| % Weighted Average Yield on Structured Subordinated Notes (based on cost)                                                                    |  | 12                 | %               |                                |                  |                | 12    | %                              |                 |   |
| % Weighted Average Yield on Fixed Rate Debt, Variable Rate Debt and Structured Subordinated Notes (based on cost)(3)                         |  | 10                 | %               |                                |                  |                | 8     | %                              |                 |   |
| % Weighted Average Yield (based on cost) for the entire portfolio                                                                            |  | 10                 | %               |                                |                  |                | 8     | %                              |                 |   |
|                                                                                                                                              |  |                         |                 |                                |                  |                |            |                                |
| (1) The interest rate by type information is calculated using the Company’s debt portfolio and excludes equity investments.            |
| (2) The interest rate by type information is calculated using the Company’s debt portfolio and excludes structured subordinated notes. |
| (3) The interest rate by type information is calculated excluding the Company’s equity investments.                                    |

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|                                                   |        |                               |                  |                         |          |                           |        |                         |   |                  |          |        |           |   |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------|--------|-------------------------------|------------------|-------------------------|----------|---------------------------|--------|-------------------------|---|------------------|----------|--------|-----------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                              |   | December 31, 2022             |
| Industry                                          |   | Investments at Amortized Cost |             | Percentage of Portfolio |          | Investments at Fair Value |   | Percentage of Portfolio |
| Structured Finance                                |   | $                             | 5,923,114   |                         |          | 16                   | %      |                         | $ | 4,761,868   |          |        | 15   | % |
| Healthcare & Pharmaceuticals                  |   | 3,952,662                |                  |                         | 11  | %                         |        | 3,884,219          |   |                  | 12  | %      |
| Services: Consumer                            |   | 3,824,678                |                  |                         | 11  | %                         |        | 3,458,793          |   |                  | 11  | %      |
| Telecommunications                                |   | 3,762,231                |                  |                         | 10  | %                         |        | 3,323,243          |   |                  | 10  | %      |
| Services: Business                            |   | 3,399,278                |                  |                         | 9   | %                         |        | 3,119,991          |   |                  | 10  | %      |
| Media: Broadcasting & Subscription        |   | 1,985,000                |                  |                         | 6   | %                         |        | 1,965,631          |   |                  | 6   | %      |
| High Tech Industries                              |   | 2,014,246                |                  |                         | 6   | %                         |        | 1,950,209          |   |                  | 6   | %      |
| Beverage, Food & Tobacco                      |   | 1,979,549                |                  |                         | 5   | %                         |        | 1,910,060          |   |                  | 6   | %      |
| Consumer goods: Durable                       |   | 1,971,006                |                  |                         | 5   | %                         |        | 1,869,733          |   |                  | 6   | %      |
| Wholesale                                         |   | 1,925,846                |                  |                         | 5   | %                         |        | 1,808,222          |   |                  | 6   | %      |
| Media: Diversified and Production             |   | 1,952,738                |                  |                         | 5   | %                         |        | 1,386,244          |   |                  | 4   | %      |
| Automotive                                        |   | 1,219,278                |                  |                         | 3   | %                         |        | 1,228,102          |   |                  | 4   | %      |
| Consumer goods: Non-Durable                   |   | 977,230                  |                  |                         | 3   | %                         |        | 719,641            |   |                  | 2   | %      |
| Media: Advertising, Printing & Publishing |   | 497,038                  |                  |                         | 2   | %                         |        | 467,500            |   |                  | 1   | %      |
| Financial                                         |        | 753,146                  |                  |                         | 2   | %                         |        | 351,447            |   |                  | 1   | %      |
| Retail                                            |   | 198,026                  |                  |                         | 1   | %                         |        | 12,875             |   |                  | 0 %      |
| Total                                             |   | $                             | 36,335,066  |                         |          | 100                  | %      |                         | $ | 32,217,778  |          |   | 100  | % |

|                                                   |        |                               |                  |                         |          |                           |              |                         |   |                  |          |   |           |   |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------|--------|-------------------------------|------------------|-------------------------|----------|---------------------------|--------------|-------------------------|---|------------------|----------|---|-----------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                              |   | June 30, 2022                 |
| Industry                                          |   | Investments at Amortized Cost |             | Percentage of Portfolio |          | Investments at Fair Value |         | Percentage of Portfolio |
| Structured Finance                                |        | $                             | 5,991,806   |                         |          | 16                   | %            |                         | $ | 5,126,749   |          |   | 14   | % |
| Healthcare & Pharmaceuticals                  |        | 3,966,383                |                  |                         | 10  | %                         |              | 4,053,779          |   |                  | 11  | % |
| Telecommunications                                |        | 3,759,421                |                  |                         | 10  | %                         |              | 3,616,257          |   |                  | 10  | % |
| Services: Consumer                            |        | 3,917,659                |                  |                         | 10  | %                         |              | 3,614,230          |   |                  | 10  | % |
| Services: Business                            |        | 3,411,023                |                  |                         | 9   | %                         |              | 3,272,314          |   |                  | 9   | % |
| Beverage, Food & Tobacco                      |        | 2,463,631                |                  |                         | 6   | %                         |              | 2,385,703          |   |                  | 7   | % |
| High Tech Industries                              |        | 2,518,008                |                  |                         | 7   | %                         |              | 2,378,482          |   |                  | 7   | % |
| Media: Broadcasting & Subscription        |        | 1,995,000                |                  |                         | 5   | %                         |              | 1,960,080          |   |                  | 6   | % |
| Consumer goods: Durable                       |        | 1,970,645                |                  |                         | 5   | %                         |              | 1,911,603          |   |                  | 5   | % |
| Wholesale                                         |        | 1,933,776                |                  |                         | 5   | %                         |              | 1,760,222          |   |                  | 5   | % |
| Media: Diversified and Production             |        | 1,971,758                |                  |                         | 5   | %                         |              | 1,702,829          |   |                  | 5   | % |
| Automotive                                        |        | 1,224,478                |                  |                         | 3   | %                         |              | 1,217,087          |   |                  | 3   | % |
| Consumer goods: Non-Durable                   |        | 981,508                  |                  |                         | 3   | %                         |              | 914,067            |   |                  | 3   | % |
| Banking, Finance, Insurance & Real Estate     |        | 734,193                  |                  |                         | 2   | %                         |              | 735,131            |   |                  | 2   | % |
| Financial                                         |        | 1,004,570                |                  |                         | 3   | %                         |              | 650,000            |   |                  | 2   | % |
| Media: Advertising, Printing & Publishing |        | 496,398                  |                  |                         | 1   | %                         |              | 501,250            |   |                  | 1   | % |
| Retail                                            |        | 219,852                  |                  |                         | 0 %      |                           | 10,214  |                         |   | 0 %              |
| Total                                             |   | $                             | 38,560,109  |                         |          | 100                  | %            |                         | $ | 35,809,997  |          |   | 100  | % |

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|                               |        |                   |                  |               |                |                  |      |                  |            |                |                  |        |           |                  |                  |               |           |   |                  |  |               |   |  |  |  |  |  |  |  |  |  |  |
|-------------------------------|--------|-------------------|------------------|---------------|----------------|------------------|------|------------------|------------|----------------|------------------|--------|-----------|------------------|------------------|---------------|-----------|---|------------------|--|---------------|---|--|--|--|--|--|--|--|--|--|--|
|                          |   | December 31, 2022 |             | June 30, 2022 |
| Level of Control              |   | Cost              | % of Portfolio   | Fair Value    | % of Portfolio |             | Cost | % of Portfolio   | Fair Value | % of Portfolio |
| Affiliate                     |   | $                 | —     |               | —   | %                | $    | —     |            | —   | %                |   | $         | —     |                  | —  | %         | $ | —     |  | —  | % |
| Non-Control/Non-Affiliate |   | 36,335,066   |                  | 100      | %              | 32,217,778  |      | 100         | %          |           | 38,560,109  |        | 100  | %                | 35,809,997  |               | 100  | % |
| Total Investments             |   | $                 | 36,335,066  |               | 100       | %                | $    | 32,217,778  |            | 100       | %                |   | $         | 38,560,109  |                  | 100      | %         | $ | 35,809,997  |  | 100      | % |
|                               |        |                   |                  |               |                |                  |      |                  |            |                |

|                                               |  |                   |                  |               |                 |   |                  |  |  |  |  |  |  |  |
|-----------------------------------------------|--|-------------------|------------------|---------------|-----------------|---|------------------|--|--|--|--|--|--|--|
|                                               |  | December 31, 2022 |                  | June 30, 2022 |
| Net assets                                    |  | $                 | 14,767,963  |               |                 | $ | 16,700,975  |  |
| Shares of common stock issued and outstanding |  | 2,371,542    |                  |               | 2,375,890  |   |
| Net asset value per share                     |  | $                 | 6.23        |               |                 | $ | 7.03        |  |

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|                                                                                                                                                                                                                                                                                                                      |                          |                            |                                                |                                  |             |  |               |  |               |  |  |  |  |  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------|----------------------------|------------------------------------------------|----------------------------------|-------------|--|---------------|--|---------------|--|--|--|--|--|
| Revolving Credit Facility                                                                                                                                                                                                                                                                                            | Total Amount Outstanding | Asset Coverage per Unit(1) | Involuntary Liquidating Preference per Unit(2) | Average Market Value per Unit(2) |
| December 31, 2022                                                                                                                                                                                                                                                                                                    | $                        | 17,800,000            |                                                | $                                | 1,830  |  | —  |  | —  |  |
| September 30, 2022                                                                                                                                                                                                                                                                                                   | $                        | 20,000,000            |                                                | $                                | 1,792  |  | —  |  | —  |  |
| June 30, 2022                                                                                                                                                                                                                                                                                                        | $                        | 20,500,000            |                                                | $                                | 1,815  |  | —  |  | —  |  |
| March 31, 2022                                                                                                                                                                                                                                                                                                       | $                        | 21,000,000            |                                                | $                                | 1,895  |  | —  |  | —  |  |
| December 31, 2021                                                                                                                                                                                                                                                                                                    | $                        | 21,000,000            |                                                | $                                | 1,924  |  | —  |  | —  |  |
| September 30, 2021                                                                                                                                                                                                                                                                                                   | $                        | 21,000,000            |                                                | $                                | 1,938  |  | —  |  | —  |  |
| June 30, 2021                                                                                                                                                                                                                                                                                                        | $                        | 21,000,000            |                                                | $                                | 1,950  |  | —  |  | —  |  |
| March 31, 2021                                                                                                                                                                                                                                                                                                       | $                        | 21,000,000            |                                                | $                                | 1,971  |  | —  |  | —  |  |
| December 31, 2020                                                                                                                                                                                                                                                                                                    | $                        | 21,000,000            |                                                | $                                | 1,976  |  | —  |  | —  |  |
| September 30, 2020                                                                                                                                                                                                                                                                                                   | $                        | 21,000,000            |                                                | $                                | 1,947  |  | —  |  | —  |  |
| June 30, 2020                                                                                                                                                                                                                                                                                                        | $                        | 21,000,000            |                                                | $                                | 1,931  |  | —  |  | —  |  |
| March 31, 2020                                                                                                                                                                                                                                                                                                       | $                        | 21,000,000            |                                                | $                                | 1,914  |  | —  |  | —  |  |
| December 31, 2019                                                                                                                                                                                                                                                                                                    | $                        | 21,000,000            |                                                | $                                | 2,018  |  | —  |  | —  |  |
| September 30, 2019                                                                                                                                                                                                                                                                                                   | $                        | 15,500,000            |                                                | $                                | 2,461  |  | —  |  | —  |  |
| June 30, 2019                                                                                                                                                                                                                                                                                                        | $                        | 5,500,000             |                                                | $                                | 5,256  |  | —  |  | —  |  |
|                                                                                                                                                                                                                                                                                                                      |                          |                            |                                                |                                  |
| (1) The asset coverage ratio is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by secured senior securities representing indebtedness. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage Per Unit. |
| (2) This column is inapplicable.                                                                                                                                                                                                                                                                                     |

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|                                  |  |                 |               |                  |  |                       |               |  |  |   |               |  |  |  |  |  |  |  |  |  |
|----------------------------------|--|-----------------|---------------|------------------|--|-----------------------|---------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|
| Interest Rate Basis Point Change |  | Interest Income |               | Interest Expense |  | Net Investment Income |
| Up 300 basis points              |  | $               | 921,666  |                  |  | $                     | 534,000  |  |  | $ | 387,666  |  |
| Up 200 basis points              |  | $               | 629,524  |                  |  | $                     | 356,000  |  |  | $ | 273,524  |  |
| Up 100 basis points              |  | $               | 337,382  |                  |  | $                     | 178,000  |  |  | $ | 159,382  |  |
| Down 100 basis points            |  | $               | (292,142)     |                  |  | $                     | (178,000)     |  |  | $ | (114,142)     |  |
| Down 200 basis points            |  | $               | (584,283)     |                  |  | $                     | (356,000)     |  |  | $ | (228,283)     |  |
| Down 300 basis points            |  | $               | (855,949)     |                  |  | $                     | (534,000)     |  |  | $ | (321,949)     |  |

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|                   |        |                    |        |                  |  |                          |        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------|--------|--------------------|--------|------------------|--|--------------------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Date of Issuance  |   | Record Date        |   | Number of Shares |  | Purchase Price per Share |   |
| August 5, 2022    |        | July 29, 2022      |        | 8,457            |  | $6.99                    |   |
| September 2, 2022 |        | August 26, 2022    |        | 6,748            |  | $6.99                    |   |
| October 7, 2022   |        | September 30, 2022 |        | 7,528            |  | $6.99                    |        |
| November 4, 2022  |        | October 28, 2022   |        | 6,281            |  | $6.65                    |        |
| December 2, 2022  |        | November 25, 2022  |        | 5,918            |  | $6.65                    |        |
| January 6, 2023   |        | December 30, 2022  |        | 7,400            |  | $6.65                    |        |

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Fourth Amended Articles of Incorporation(1)

Articles Supplementary(2)

Articles Supplementary(3)

Articles of Merger of the Registrant(4)

Articles of Amendment(5)

Articles of Amendment(6)

Third Amended and Restated Bylaws(7)

Articles of Amendment(8)

Fourth Amended and Restated Bylaws(9)

Certification by Chief Executive Officer pursuant to Exchange Act Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *

Certification by Chief Financial Officer pursuant to Exchange Act Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *

Certification by Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *

Certification by Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *

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