|             |                                                                                                   |  |  |  |  |
|-------------|---------------------------------------------------------------------------------------------------|--|--|--|--|
| [x] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|             |                                                                                                    |  |  |  |  |
|-------------|----------------------------------------------------------------------------------------------------|--|--|--|--|
| [ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|        |                                                        |        |  |  |  |  |  |  |
|--------|--------------------------------------------------------|--------|--|--|--|--|--|--|
|   | CĪON Investment Corporation                       |   |
|   | (Exact name of registrant as specified in its charter) |   |

|                                                               |  |                                     |  |  |  |  |  |  |
|---------------------------------------------------------------|--|-------------------------------------|--|--|--|--|--|--|
| Maryland                                                      |  | 45-3058280                          |
| (State or other jurisdiction ofincorporation or organization) |  | (I.R.S. EmployerIdentification No.) |
|                                                               |  |                                     |
| 3 Park Avenue, 36th FloorNew York, New York                   |  | 10016                               |
| (Address of principal executive offices)                      |  | (Zip Code)                          |

|        |                                                                                    |        |  |  |  |  |  |  |
|--------|------------------------------------------------------------------------------------|--------|--|--|--|--|--|--|
|   | (212) 418-4700                                                                |   |
|   | (Registrant’s telephone number, including area code)                         |   |
|   |                                                                               |   |
|   | Not applicable                                                                     |   |
|   | (Former name, former address and former fiscal year, if changed since last report) |   |

|                                          |                   |                                           |  |  |  |  |  |  |
|------------------------------------------|-------------------|-------------------------------------------|--|--|--|--|--|--|
| Title of each class                      | Trading symbol(s) | Name of each exchange on which registered |
| Common stock, par value $0.001 per share | CION              | The New York Stock Exchange               |

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

----

----

|  |                                                                                                     |        |  |  |  |  |  |  |
|--|-----------------------------------------------------------------------------------------------------|--------|--|--|--|--|--|--|
|  |                                                                                                     | Page   |
|  | PART I - FINANCIAL INFORMATION                                                                      |   |
|  | Item 1. Financial Statements                                                                        | 1      |
|  | Consolidated Balance Sheets                                                                         | 1      |
|  | Consolidated Statements of Operations                                                               | 2      |
|  | Consolidated Statements of Changes in Net Assets                                                    | 3      |
|  | Consolidated Statements of Cash Flows                                                               | 4      |
|  | Consolidated Schedules of Investments                                                               | 5      |
|  | Notes to Consolidated Financial Statements                                                          | 26     |
|  | Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 58     |
|  | Item 3. Quantitative and Qualitative Disclosures About Market Risk                                  | 72     |
|  | Item 4. Controls and Procedures                                                                     | 72     |
|  | PART II – OTHER INFORMATION                                                                   |        |
|  | Item 1. Legal Proceedings                                                                           | 74     |
|  | Item 1A. Risk Factors                                                                               | 74     |
|  | Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                 | 74     |
|  | Item 3. Defaults Upon Senior Securities                                                             | 74     |
|  | Item 4. Mine Safety Disclosures                                                                     | 74     |
|  | Item 5. Other Information                                                                      | 74     |
|  | Item 6. Exhibits                                                                               | 75     |
|  | Signatures                                                                                          | 78     |

----

|                                                                                                                                                               |  |                 |                 |                  |                 |   |                 |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------|-----------------|------------------|-----------------|---|-----------------|--|--|--|--|--|--|--|
|                                                                                                                                                               |  | March 31,2022   |                 | December 31,2021 |
|                                                                                                                                                               |  | (unaudited)     |                 |                  |
| Assets                                                                                                                                                        |
| Investments, at fair value:                                                                                                                               |  |                 |                 |                  |
|      Non-controlled, non-affiliated investments (amortized cost of $1,576,679 and $1,617,126, respectively)                |  | $               | 1,533,188  |                  |                 | $ | 1,581,124  |  |
|      Non-controlled, affiliated investments (amortized cost of $144,704 and $91,476, respectively)                              |  | 130,934    |                 |                  | 81,490     |   |
|      Controlled investments (amortized cost of $83,702 and $83,702, respectively)                                                    |  | 91,175     |                 |                  | 91,425     |   |
|           Total investments, at fair value (amortized cost of $1,805,085 and $1,792,304, respectively) |  | 1,755,297  |                 |                  | 1,754,039  |   |
|                                                                                                                                                               |  |                 |                 |                  |
| Cash                                                                                                                                                          |  | 17,500     |                 |                  | 3,774      |   |
|                                                                                                                                                               |  |                 |                 |                  |
|                                                                                                                                                               |  |                 |                 |                  |
|                                                                                                                                                               |  |                 |                 |                  |
| Interest receivable on investments                                                                                                                            |  | 21,298     |                 |                  | 21,549     |   |
|                                                                                                                                                               |  |                 |                 |                  |
| Receivable due on investments sold and repaid                                                                                                                 |  | 7,303      |                 |                  | 2,854      |   |
|                                                                                                                                                               |  |                 |                 |                  |
| Prepaid expenses and other assets                                                                                                                             |  | 3,618      |                 |                  | 466        |   |
|    Total assets                                                                                                                                |  | $               | 1,805,016  |                  |                 | $ | 1,782,682  |  |

|                                                                                                    |  |                 |                 |  |                 |   |                 |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------------|--|-----------------|-----------------|--|-----------------|---|-----------------|--|--|--|--|--|--|--|
| Liabilities and Shareholders' Equity                                                               |
| Liabilities                                                                                        |  |                 |                 |  |
| Financing arrangements (net of unamortized debt issuance costs of $7,636 and $7,628, respectively) |  | $               | 867,364    |  |                 | $ | 822,372    |  |
| Payable for investments purchased                                                                  |  | —    |                 |  | 11,327     |   |
| Accounts payable and accrued expenses                                                              |  | 862        |                 |  | 1,922      |   |
| Interest payable                                                                                   |  | 3,173      |                 |  | 4,339      |   |
|                                                                                                    |  |                 |                 |  |
| Accrued management fees                                                                            |  | 6,655      |                 |  | 6,673      |   |
| Accrued subordinated incentive fee on income                                                       |  | 4,133      |                 |  | 3,942      |   |
| Accrued administrative services expense                                                            |  | 376        |                 |  | 1,595      |   |
|                                                                                                    |  |                 |                 |  |
|                                                                                                    |  |                 |                 |  |
| Total liabilities                                                                                  |  | 882,563    |                 |  | 852,170    |   |
|                                                                                                    |  |                 |                 |  |
| Commitments and contingencies (Note 4 and Note 11)                                                 |  |                 |                 |  |
|                                                                                                    |  |                 |                 |  |
| Shareholders' Equity                                                                               |  |                 |                 |  |
| Common stock, $0.001 par value; 500,000,000 shares authorized;                             |  |                 |                 |  |
| 56,958,440 and 56,958,440 shares issued and outstanding, respectively                              |  | 57         |                 |  | 57         |   |
| Capital in excess of par value                                                                     |  | 1,059,989  |                 |  | 1,059,989  |   |
| Accumulated distributable losses                                                                   |  | (137,593)       |                 |  | (129,534)       |   |
| Total shareholders' equity                                                                         |  | 922,453    |                 |  | 930,512    |   |
| Total liabilities and shareholders' equity                                                         |  | $               | 1,805,016  |  |                 | $ | 1,782,682  |  |
| Net asset value per share of common stock at end of period                                         |  | $               | 16.20      |  |                 | $ | 16.34      |  |

----

|                                                                |  |                             |              |                        |                  |      |              |                  |  |   |               |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------|--|-----------------------------|--------------|------------------------|------------------|------|--------------|------------------|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                                                                |  | Three Months EndedMarch 31, |              | Year EndedDecember 31, |
|                                                                |  | 2022                        |              | 2021                   |                  | 2021 |
|                                                                |  | (unaudited)                 |              | (unaudited)            |                  |      |
| Investment income                                              |  |                             |              |                        |                  |      |
| Non-controlled, non-affiliated investments                     |  |                             |              |                        |                  |      |
|      Interest income                  |  | $                           | 30,994  |                        |                  | $    | 26,102  |                  |  | $ | 119,792  |  |
|      Paid-in-kind interest income     |  | 4,606                  |              |                        | 6,135       |      |              | 17,306      |  |
|      Fee income                       |  | 949                    |              |                        | 933         |      |              | 5,927       |  |
|      Dividend income                  |  | 46                     |              |                        | 82          |      |              | 366         |  |
| Non-controlled, affiliated investments                         |  |                             |              |                        |                  |      |
|      Interest income                  |  | 1,023                  |              |                        | 1,401       |      |              | 4,961       |  |
|                                                                |  |                             |              |                        |                  |      |
|      Paid-in-kind interest income     |  | 1,445                  |              |                        | 823         |      |              | 3,160       |  |
|      Fee income                       |  | 493                    |              |                        | —     |      |              | —     |  |
|      Dividend income                  |  | —                |              |                        | 827         |      |              | 5,576       |  |
| Controlled investments                                         |  |                             |              |                        |                  |      |
|      Interest income                  |  | 2,127                  |              |                        | —     |      |              | 260         |  |
|                                                                |  |                             |              |                        |                  |      |
| Total investment income                                        |  | 41,683                 |              |                        | 36,303      |      |              | 157,348     |  |
| Operating expenses                                             |  |                             |              |                        |                  |      |
| Management fees                                                |  | 6,655                  |              |                        | 7,783       |      |              | 31,143      |  |
| Administrative services expense                                |  | 720                    |              |                        | 684         |      |              | 3,069       |  |
| Subordinated incentive fee on income                           |  | 4,133                  |              |                        | —     |      |              | 6,875       |  |
| General and administrative                                     |  | 2,222                  |              |                        | 2,678       |      |              | 9,805       |  |
| Interest expense                                               |  | 8,459                  |              |                        | 7,548       |      |              | 31,807      |  |
| Total operating expenses                                       |  | 22,189                 |              |                        | 18,693      |      |              | 82,699      |  |
|    Net investment income before taxes           |  | 19,494                 |              |                        | 17,610      |      |              | 74,649      |  |
| Income tax expense, including excise tax                       |  | 11                     |              |                        | 11          |      |              | 342         |  |
| Net investment income after taxes                              |  | 19,483                 |              |                        | 17,599      |      |              | 74,307      |  |
| Realized and unrealized (losses) gains                         |  |                             |              |                        |                  |      |
| Net realized (losses) gains on:                            |  |                             |              |                        |                  |      |
|    Non-controlled, non-affiliated investments   |  | 28                     |              |                        | 26          |      |              | (4,100)          |  |
|    Non-controlled, affiliated investments       |  | (97)                        |              |                        | (1,080)          |      |              | 8,010       |  |
|    Controlled investments                       |  | —                |              |                        | (3,067)          |      |              | (3,067)          |  |
|    Foreign currency                             |  | —                |              |                        | (7)              |      |              | (3)              |  |
| Net realized (losses) gains                                    |  | (69)                        |              |                        | (4,128)          |      |              | 840         |  |
| Net change in unrealized (depreciation) appreciation on:   |  |                             |              |                        |                  |      |
|    Non-controlled, non-affiliated investments   |  | (7,495)                     |              |                        | 19,238      |      |              | 25,566      |  |
|    Non-controlled, affiliated investments       |  | (3,780)                     |              |                        | 13,938      |      |              | 7,261       |  |
|    Controlled investments                       |  | (250)                       |              |                        | 3,067       |      |              | 10,790      |  |
|                                                                |  |                             |              |                        |                  |      |
|                                                                |  |                             |              |                        |                  |      |
| Net change in unrealized (depreciation) appreciation           |  | (11,525)                    |              |                        | 36,243      |      |              | 43,617      |  |
| Net realized and unrealized (losses) gains                     |  | (11,594)                    |              |                        | 32,115      |      |              | 44,457      |  |
| Net increase in net assets resulting from operations           |  | $                           | 7,889   |                        |                  | $    | 49,714  |                  |  | $ | 118,764  |  |
| Per share information—basic and diluted(1)               |  |                             |              |                        |                  |      |
| Net increase in net assets per share resulting from operations |  | $                           | 0.14    |                        |                  | $    | 0.88    |                  |  | $ | 2.09     |  |
| Net investment income per share                                |  | $                           | 0.34    |                        |                  | $    | 0.31    |                  |  | $ | 1.31     |  |
| Weighted average shares of common stock outstanding            |  | 56,958,440             |              |                        | 56,753,521  |      |              | 56,808,960  |  |

----

|                                                                       |  |                             |               |                        |                  |      |               |                  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------|--|-----------------------------|---------------|------------------------|------------------|------|---------------|------------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                       |  | Three Months EndedMarch 31, |               | Year EndedDecember 31, |
|                                                                       |  | 2022                        |               | 2021                   |                  | 2021 |
|                                                                       |  | (unaudited)                 |               | (unaudited)            |                  |      |
| Changes in net assets from operations:                            |  |                             |               |                        |                  |      |
| Net investment income                                                 |  | $                           | 19,483   |                        |                  | $    | 17,599   |                  |  | $ | 74,307   |  |
| Net realized (loss) gain on investments                               |  | (69)                        |               |                        | (4,121)          |      |               | 843         |  |
| Net realized loss on foreign currency                                 |  | —                |               |                        | (7)              |      |               | (3)              |  |
| Net change in unrealized (depreciation) appreciation on investments   |  | (11,525)                    |               |                        | 36,243      |      |               | 43,617      |  |
|                                                                       |  |                             |               |                        |                  |      |
|                                                                       |  |                             |               |                        |                  |      |
|                                                                       |  |                             |               |                        |                  |      |
| Net increase in net assets resulting from operations                  |  | 7,889                  |               |                        | 49,714      |      |               | 118,764     |  |
| Changes in net assets from shareholders' distributions:           |  |                             |               |                        |                  |      |
| Distributions to shareholders                                         |  | (15,948)                    |               |                        | (15,029)         |      |               | (71,530)         |  |
| Net decrease in net assets resulting from shareholders' distributions |  | (15,948)                    |               |                        | (15,029)         |      |               | (71,530)         |  |
| Changes in net assets from capital share transactions:            |  |                             |               |                        |                  |      |
|                                                                       |  |                             |               |                        |                  |      |
| Reinvestment of shareholders' distributions                           |  | —                |               |                        | 5,292       |      |               | 15,489      |  |
| Repurchase of common stock                                            |  | —                |               |                        | (5,291)          |      |               | (10,467)         |  |
| Net increase in net assets resulting from capital share transactions  |  | —                |               |                        | 1           |      |               | 5,022       |  |
|                                                                       |  |                             |               |                        |                  |      |
| Total (decrease) increase in net assets                               |  | (8,059)                     |               |                        | 34,686      |      |               | 52,256      |  |
| Net assets at beginning of period                                     |  | 930,512                |               |                        | 878,256     |      |               | 878,256     |  |
| Net assets at end of period                                           |  | $                           | 922,453  |                        |                  | $    | 912,942  |                  |  | $ | 930,512  |  |
| Net asset value per share of common stock at end of period(1)         |  | $                           | 16.20    |                        |                  | $    | 16.12    |                  |  | $ | 16.34    |  |
| Shares of common stock outstanding at end of period(1)                |  | 56,958,440             |               |                        | 56,649,901  |      |               | 56,958,440  |  |
|                                                                       |  |                             |               |                        |                  |      |

----

|                                                                                                                                           |  |                             |               |                        |               |      |               |               |  |   |               |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------------------------------------------------------------|--|-----------------------------|---------------|------------------------|---------------|------|---------------|---------------|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                                                                                                                                           |  | Three Months EndedMarch 31, |               | Year EndedDecember 31, |
|                                                                                                                                           |  | 2022                        |               | 2021                   |               | 2021 |
|                                                                                                                                           |  | (unaudited)                 |               | (unaudited)            |               |      |
| Operating activities:                                                                                                                 |  |                             |               |                        |               |      |
| Net increase in net assets resulting from operations                                                                                      |  | $                           | 7,889    |                        |               | $    | 49,714   |               |  | $ | 118,764  |  |
| Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities: |  |                             |               |                        |               |      |
| Net accretion of discount on investments                                                                                                  |  | (2,496)                     |               |                        | (3,172)       |      |               | (11,738)      |  |
| Proceeds from principal repayment of investments                                                                                          |  | 58,747                 |               |                        | 174,274  |      |               | 568,907  |  |
| Purchase of investments                                                                                                                   |  | (137,823)                   |               |                        | (183,634)     |      |               | (920,039)     |  |
| Paid-in-kind interest and dividends capitalized                                                                                           |  | (6,051)                     |               |                        | (7,515)       |      |               | (21,734)      |  |
| Decrease (increase) in short term investments, net                                                                                        |  | 72,154                 |               |                        | (13,996)      |      |               | (14,319)      |  |
| Proceeds from sale of investments                                                                                                         |  | 2,284                  |               |                        | 15,000   |      |               | 259,050  |  |
| Net realized loss (gain) on investments                                                                                                   |  | 69                     |               |                        | 4,121    |      |               | (843)         |  |
| Net change in unrealized depreciation (appreciation) on investments                                                                       |  | 11,525                 |               |                        | (36,243)      |      |               | (43,617)      |  |
| Amortization of debt issuance costs                                                                                                       |  | 692                    |               |                        | 749      |      |               | 2,800    |  |
|                                                                                                                                           |  |                             |               |                        |               |      |
| (Increase) decrease in interest receivable on investments                                                                                 |  | 584                    |               |                        | (722)         |      |               | (4,400)       |  |
| (Increase) decrease in dividends receivable on investments                                                                                |  | —                |               |                        | (270)         |      |               | 45       |  |
| (Increase) decrease in receivable due on investments sold and repaid                                                                      |  | (4,449)                     |               |                        | (33,722)      |      |               | 3,339    |  |
| (Increase) decrease in prepaid expenses and other assets                                                                                  |  | (3,152)                     |               |                        | 1,121    |      |               | 1,322    |  |
| Increase (decrease) in payable for investments purchased                                                                                  |  | (11,327)                    |               |                        | 40,084   |      |               | 11,194   |  |
| Increase (decrease) in accounts payable and accrued expenses                                                                              |  | (1,060)                     |               |                        | 227      |      |               | 1,228    |  |
| Increase (decrease) in interest payable                                                                                                   |  | (1,166)                     |               |                        | 217      |      |               | 1,839    |  |
| Increase (decrease) in accrued management fees                                                                                            |  | (18)                        |               |                        | 115      |      |               | (995)         |  |
| Increase (decrease) in accrued administrative services expense                                                                            |  | (1,219)                     |               |                        | (876)         |      |               | 330      |  |
|                                                                                                                                           |  |                             |               |                        |               |      |
|                                                                                                                                           |  |                             |               |                        |               |      |
| Increase (decrease) in subordinated incentive fee on income payable                                                                       |  | 191                    |               |                        | (4,323)       |      |               | (381)         |  |
| Net cash (used in) provided by operating activities                                                                                       |  | (14,626)                    |               |                        | 1,149    |      |               | (49,248)      |  |
| Financing activities:                                                                                                                 |  |                             |               |                        |               |      |
|                                                                                                                                           |  |                             |               |                        |               |      |
|                                                                                                                                           |  |                             |               |                        |               |      |
| Repurchase of common stock                                                                                                                |  | —                |               |                        | (5,291)       |      |               | (10,467)      |  |
| Shareholders' distributions paid                                                                                                          |  | (15,948)                    |               |                        | (9,737)       |      |               | (56,041)      |  |
| Repayments under financing arrangements                                                                                                   |  | —                |               |                        | (125,000)     |      |               | (171,000)     |  |
| Borrowings under financing arrangements                                                                                                   |  | 45,000                 |               |                        | 125,000  |      |               | 276,000  |  |
|                                                                                                                                           |  |                             |               |                        |               |      |
| Debt issuance costs paid                                                                                                                  |  | (700)                       |               |                        | (4,394)       |      |               | (5,384)       |  |
| Net cash provided by (used in) financing activities                                                                                       |  | 28,352                 |               |                        | (19,422)      |      |               | 33,108   |  |
| Net increase (decrease) in cash and restricted cash                                                                                       |  | 13,726                 |               |                        | (18,273)      |      |               | (16,140)      |  |
| Cash and restricted cash, beginning of period                                                                                             |  | 3,774                  |               |                        | 19,914   |      |               | 19,914   |  |
| Cash and restricted cash, end of period                                                                                                   |  | $                           | 17,500   |                        |               | $    | 1,641    |               |  | $ | 3,774    |  |
|                                                                                                                                           |  |                             |               |                        |               |      |
| Supplemental disclosure of cash flow information:                                                                                     |  |                             |               |                        |               |      |
| Cash paid for interest                                                                                                                    |  | $                           | 8,925    |                        |               | $    | 6,582    |               |  | $ | 27,129   |  |
| Supplemental non-cash financing activities:                                                                                           |  |                             |               |                        |               |      |
| Reinvestment of shareholders' distributions                                                                                               |  | $                           | —  |                        |               | $    | 5,292    |               |  | $ | 15,489   |  |
| Restructuring of portfolio investment                                                                                                     |  | $                           | —  |                        |               | $    | —  |               |  | $ | 5,455    |  |
|         Cash interest receivable exchanged for additional securities                              |  | $                           | —  |                        |               | $    | 1,304    |               |  | $ | 1,304    |  |
|                                                                                                                                           |  |                             |               |                        |               |      |

----

|                                                                                                   |  |               |  |                                                   |  |                                       |              |         |               |              |              |               |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--------------|---------|---------------|--------------|--------------|---------------|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                              |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |              | Cost(d) |               | FairValue(c) |
| Senior Secured First Lien Debt - 173.2%                                                           |  |               |  |                                                   |  |                                       |              |         |               |              |
| Adapt Laser Acquisition, Inc., L+1200, 1.00% LIBOR Floor, 12/31/2023(t)                   |  | 3 Month LIBOR |  | Capital Equipment                                 |  | $                                     | 11,147  |         |               | $            | 11,147  |               |  | $ | 8,946  |  |
| Adapt Laser Acquisition, Inc., L+1000, 1.00% LIBOR Floor, 12/31/2023                      |  | 3 Month LIBOR |  | Capital Equipment                                 |  | 2,000                            |              |         | 2,000    |              |              | 1,605    |  |
| Aegis Toxicology Sciences Corp., L+550, 1.00% LIBOR Floor, 5/9/2025(m)                    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 6,473                            |              |         | 6,406    |              |              | 6,473    |  |
| AHF Parent Holding, Inc., S+625, 0.75% SOFR Floor, 2/1/2028(n)                            |  | 3 Month SOFR  |  | Construction & Building                       |  | 3,000                            |              |         | 2,948    |              |              | 2,955    |  |
| Allen Media, LLC, S+550, 0.00% SOFR Floor, 2/10/2027(n)                                   |  | 3 Month SOFR  |  | Media: Diversified & Production           |  | 8,932                            |              |         | 8,851    |              |              | 8,882    |  |
| ALM Media, LLC, L+700, 1.00% LIBOR Floor, 11/25/2024(m)(n)                                |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 17,750                           |              |         | 17,546   |              |              | 17,306   |  |
| American Clinical Solutions LLC, 7.00%, 12/31/2022(m)                                     |  | None          |  | Healthcare & Pharmaceuticals                  |  | 3,500                            |              |         | 3,472    |              |              | 3,456    |  |
| American Consolidated Natural Resources, Inc., L+1600, 1.00% LIBOR Floor, 9/16/2025(m)(t) |  | 3 Month LIBOR |  | Metals & Mining                               |  | 382                              |              |         | 291      |              |              | 395      |  |
| American Health Staffing Group, Inc., L+600, 1.00% LIBOR Floor, 11/19/2026(m)             |  | 3 Month LIBOR |  | Services: Business                            |  | 16,667                           |              |         | 16,512   |              |              | 16,667   |  |
|                                                                                                   |  |               |  |                                                   |  |                                       |              |         |               |              |
| American Health Staffing Group, Inc., 0.50% Unfunded, 11/19/2026                          |  | None          |  | Services: Business                            |  | 3,333                            |              |         | (31)          |              |              | —  |  |
| American Teleconferencing Services, Ltd., Prime+550, 6/8/2023(m)(q)                       |  | Prime         |  | Telecommunications                                |  | 16,154                           |              |         | 15,621   |              |              | 3,211    |  |
| American Teleconferencing Services, Ltd., Prime+550, 3/31/2022(m)                         |  | Prime         |  | Telecommunications                                |  | 3,116                            |              |         | 3,116    |              |              | 3,116    |  |
| American Teleconferencing Services, Ltd., 0.00% Unfunded, 3/31/2022(m)(o)                 |  | None          |  | Telecommunications                                |  | 235                              |              |         | —  |              |              | —  |  |
| Analogic Corp., L+525, 1.00% LIBOR Floor, 6/21/2024(m)(n)                                 |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 4,888                            |              |         | 4,846    |              |              | 4,802    |  |
| Ancile Solutions, Inc., L+1000, 1.00% LIBOR Floor, 6/22/2026(m)(t)                        |  | 1 Month LIBOR |  | High Tech Industries                              |  | 12,554                           |              |         | 12,195   |              |              | 12,177   |  |
| Anthem Sports & Entertainment Inc., L+900, 1.00% LIBOR Floor, 11/15/2026(m)(t)        |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 37,857                           |              |         | 37,667   |              |              | 36,532   |  |
| Anthem Sports & Entertainment Inc., L+950, 1.00% LIBOR Floor, 11/15/2026              |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 1,000                            |              |         | 1,000    |              |              | 965      |  |
| Anthem Sports & Entertainment Inc., 0.50% Unfunded, 11/15/2026                        |  | None          |  | Media: Diversified & Production           |  | 1,167                            |              |         | —  |              |              | (41)          |  |
| Appalachian Resource Company, LLC, L+500, 1.00% LIBOR Floor, 9/10/2023                    |  | 1 Month LIBOR |  | Metals & Mining                               |  | 11,137                           |              |         | 10,122   |              |              | 10,608   |  |
| Appalachian Resource Company, LLC, 0.00% Unfunded, 9/10/2023(o)                           |  | None          |  | Metals & Mining                               |  | 500                              |              |         | —  |              |              | —  |  |
| Associated Asphalt Partners, LLC, L+525, 1.00% LIBOR Floor, 4/5/2024(m)(n)                |  | 1 Month LIBOR |  | Construction & Building                       |  | 14,350                           |              |         | 14,086   |              |              | 11,815   |  |
| Avison Young (USA) Inc., L+600, 0.00% LIBOR Floor, 1/31/2026(h)(m)                        |  | (u)           |  | Banking, Finance, Insurance & Real Estate     |  | 2,686                            |              |         | 2,653    |              |              | 2,675    |  |
| BDS Solutions Intermediateco, LLC, S+650, 1.00% SOFR Floor, 2/7/2027(m)                   |  | 3 Month SOFR  |  | Services: Business                            |  | 17,100                           |              |         | 16,773   |              |              | 16,758   |  |
| BDS Solutions Intermediateco, LLC, S+650, 1.00% SOFR Floor, 2/7/2027                      |  | 3 Month SOFR  |  | Services: Business                            |  | 1,238                            |              |         | 1,181    |              |              | 1,213    |  |
| BDS Solutions Intermediateco, LLC, 0.50% Unfunded, 2/7/2027                               |  | None          |  | Services: Business                            |  | 1,619                            |              |         | —  |              |              | (32)          |  |
| Berlitz Holdings, Inc., S+900, 1.00% SOFR Floor, 2/14/2025(r)                             |  | 1 Month SOFR  |  | Services: Business                            |  | 15,000                           |              |         | 13,875   |              |              | 13,875   |  |
| Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2027(m)              |  | 1 Month LIBOR |  | Consumer Goods: Durable                       |  | 13,123                           |              |         | 12,811   |              |              | 12,795   |  |
| Bradshaw International Parent Corp., 0.50% Unfunded, 10/21/2026                           |  | None          |  | Consumer Goods: Durable                       |  | 1,844                            |              |         | (43)          |              |              | (46)          |  |
| Cadence Aerospace, LLC, L+850, 1.00% LIBOR Floor, 11/14/2023(m)(n)(t)                     |  | 3 Month LIBOR |  | Aerospace & Defense                           |  | 39,070                           |              |         | 38,792   |              |              | 38,484   |  |
| Cardenas Markets LLC, L+625, 1.00% LIBOR Floor, 6/3/2027(m)                               |  | 6 Month LIBOR |  | Retail                                            |  | 10,918                           |              |         | 10,815   |              |              | 10,754   |  |
| CB URS Holdings Corp., L+575, 1.00% LIBOR Floor, 9/1/2024(m)                              |  | 6 Month LIBOR |  | Transportation: Cargo                         |  | 15,222                           |              |         | 15,185   |              |              | 13,141   |  |
| Celerity Acquisition Holdings, LLC, L+850, 1.00% LIBOR Floor, 5/28/2026                   |  | 3 Month LIBOR |  | Services: Business                            |  | 14,925                           |              |         | 14,925   |              |              | 14,832   |  |
| Cennox, Inc., L+600, 1.00% LIBOR Floor, 5/4/2026(m)                                       |  | 3 Month LIBOR |  | Services: Business                            |  | 22,673                           |              |         | 22,673   |              |              | 22,758   |  |

----

|                                                                                                 |  |               |  |                                         |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------------------|--|---------------|--|-----------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                            |  | Index Rate(b) |  | Industry                                |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| Cennox, Inc., L+600, 1.00% LIBOR Floor, 5/4/2026(n)                                     |  | 3 Month LIBOR |  | Services: Business                  |  | 6,307                            |  |         | 6,260    |              |  | 6,330    |  |
| Cennox, Inc., L+600, 1.00% LIBOR Floor, 5/4/2026                                        |  | 3 Month LIBOR |  | Services: Business                  |  | 1,680                            |  |         | 1,680    |              |  | 1,687    |  |
| Cennox, Inc., 1.00% Unfunded, 11/22/2023                                                |  | None          |  | Services: Business                  |  | 12,979                           |  |         | —  |              |  | 49       |  |
| Cennox, Inc., 0.50% Unfunded, 5/4/2026                                                  |  | None          |  | Services: Business                  |  | 1,307                            |  |         | —  |              |  | 5        |  |
| Charming Charlie LLC, 20.00%, 4/24/2023(q)(r)                                           |  | None          |  | Retail                                  |  | 662                              |  |         | 560      |              |  | 298      |  |
| CHC Solutions Inc., 12.00%, 7/20/2023(n)(t)                                             |  | None          |  | Healthcare & Pharmaceuticals        |  | 8,047                            |  |         | 8,047    |              |  | 8,007    |  |
| CION/EagleTree Partners, LLC, 14.00%, 12/21/2026(h)(s)(t)                           |  | None          |  | Diversified Financials                  |  | 61,629                           |  |         | 61,629   |              |  | 61,629   |  |
| CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 1/16/2024(m)(n)(t)                  |  | 1 Month LIBOR |  | Hotel, Gaming & Leisure             |  | 26,861                           |  |         | 26,823   |              |  | 26,089   |  |
| CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 1/16/2024(m)(t)                     |  | 1 Month LIBOR |  | Hotel, Gaming & Leisure             |  | 2,734                            |  |         | 2,717    |              |  | 2,656    |  |
| CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 7/16/2023(m)(t)                     |  | 1 Month LIBOR |  | Hotel, Gaming & Leisure             |  | 1,961                            |  |         | 1,862    |              |  | 2,322    |  |
| Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(q)                     |  | 3 Month LIBOR |  | Beverage, Food & Tobacco            |  | 928                              |  |         | 832      |              |  | 132      |  |
| Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(m)(q)                  |  | 3 Month LIBOR |  | Beverage, Food & Tobacco            |  | 376                              |  |         | 350      |              |  | 54       |  |
| Coyote Buyer, LLC, L+600, 1.00% LIBOR Floor, 2/6/2026(m)(n)                             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 34,300                           |  |         | 34,090   |              |  | 34,128   |  |
| Coyote Buyer, LLC, L+800, 1.00% LIBOR Floor, 8/6/2026(n)                                |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 6,172                            |  |         | 6,075    |              |  | 6,172    |  |
| Coyote Buyer, LLC, 0.50% Unfunded, 2/6/2025                                             |  | None          |  | Chemicals, Plastics & Rubber        |  | 2,500                            |  |         | —  |              |  | (13)          |  |
| Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026(m)                    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 13,026                           |  |         | 13,026   |              |  | 13,026   |  |
| Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026                       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 1,007                            |  |         | 1,007    |              |  | 1,007    |  |
| Critical Nurse Staffing, LLC, 1.00% Unfunded, 11/1/2026                                 |  | None          |  | Healthcare & Pharmaceuticals        |  | 4,899                            |  |         | —  |              |  | —  |  |
| Critical Nurse Staffing, LLC, 0.50% Unfunded, 11/1/2026                                 |  | None          |  | Healthcare & Pharmaceuticals        |  | 1,000                            |  |         | —  |              |  | —  |  |
| David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 6/23/2023(t)                            |  | 3 Month LIBOR |  | Retail                                  |  | 5,688                            |  |         | 5,171    |              |  | 5,688    |  |
| David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 5/23/2024(t)                            |  | 3 Month LIBOR |  | Retail                                  |  | 5,159                            |  |         | 5,159    |              |  | 5,159    |  |
| David's Bridal, LLC, L+600, 1.00% LIBOR Floor, 6/30/2023(t)                             |  | 3 Month LIBOR |  | Retail                                  |  | 791                              |  |         | 730      |              |  | 791      |  |
| Deluxe Entertainment Services, Inc., L+650, 1.00% LIBOR Floor, 3/25/2024(m)(q)(r)(t)    |  | 3 Month LIBOR |  | Media: Diversified & Production |  | 2,642                            |  |         | 2,632    |              |  | 528      |  |
| DMT Solutions Global Corp., L+750, 1.00% LIBOR Floor, 7/2/2024(m)                       |  | (v)           |  | Services: Business                  |  | 9,550                            |  |         | 9,432    |              |  | 9,359    |  |
| Emerald Technologies (U.S.) Acquisitionco, Inc., S+625, 1.00% SOFR Floor, 12/29/2027(n) |  | 6 Month SOFR  |  | Services: Business                  |  | 3,000                            |  |         | 2,941    |              |  | 2,955    |  |
| Entertainment Studios P&A LLC, 5.71%, 5/18/2037(j)(m)                               |  | None          |  | Media: Diversified & Production |  | 11,581                           |  |         | 11,486   |              |  | 9,931    |  |
| Entertainment Studios P&A LLC, 5.00%, 5/18/2037(j)                                  |  | None          |  | Media: Diversified & Production |  | —                          |  |         | —  |              |  | 2,080    |  |
| EnTrans International, LLC, L+600, 0.00% LIBOR Floor, 11/1/2024(m)                      |  | 1 Month LIBOR |  | Capital Equipment                       |  | 24,375                           |  |         | 24,260   |              |  | 23,887   |  |
| Extreme Reach, Inc., L+700, 1.25% LIBOR Floor, 3/29/2024(m)(n)                          |  | 1 Month LIBOR |  | Media: Diversified & Production |  | 18,367                           |  |         | 18,274   |              |  | 18,367   |  |
| Extreme Reach, Inc., 0.50% Unfunded, 3/29/2024(m)(n)                                    |  | None          |  | Media: Diversified & Production |  | 1,744                            |  |         | —  |              |  | —  |  |
| Foundation Consumer Healthcare, LLC, L+638, 1.00% LIBOR Floor, 2/12/2027(m)(n)          |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 30,799                           |  |         | 30,551   |              |  | 30,837   |  |
| Foundation Consumer Healthcare, LLC, 0.50% Unfunded, 2/12/2027                          |  | None          |  | Healthcare & Pharmaceuticals        |  | 2,094                            |  |         | —  |              |  | 3        |  |
| FuseFX, LLC, L+575, 1.00% LIBOR Floor, 10/1/2024(m)(n)                                  |  | 1 Month LIBOR |  | Media: Diversified & Production |  | 19,949                           |  |         | 19,771   |              |  | 19,749   |  |
| Fusion Connect Inc., L+750, 1.00% LIBOR Floor, 1/18/2027(m)                             |  | 3 Month LIBOR |  | High Tech Industries                    |  | 19,950                           |  |         | 19,376   |              |  | 19,401   |  |
| Future Pak, LLC, L+800, 2.00% LIBOR Floor, 7/2/2024(m)                                  |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 32,304                           |  |         | 32,304   |              |  | 31,941   |  |

----

|                                                                                                      |  |               |  |                                                   |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                                 |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| Gold Medal Holdings, Inc., S+700, 1.00% SOFR Floor, 3/17/2027(m)                             |  | 3 Month SOFR  |  | Services: Business                            |  | 15,000                           |  |         | 14,850   |              |  | 14,850   |  |
| GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r)                                |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber                  |  | 2,404                            |  |         | 2,303    |              |  | 2,010    |  |
| GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r)(t)                             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber                  |  | 871                              |  |         | 831      |              |  | 513      |  |
| GSC Technologies Inc., L+1000, 1.00% LIBOR Floor, 9/30/2025(r)(t)                            |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber                  |  | 164                              |  |         | 164      |              |  | 164      |  |
| H.W. Lochner, Inc., L+625, 1.00% LIBOR Floor, 7/2/2027(m)                                    |  | 3 Month LIBOR |  | Construction & Building                       |  | 11,940                           |  |         | 11,833   |              |  | 11,880   |  |
| H.W. Lochner, Inc., L+625, 1.00% LIBOR Floor, 7/2/2027                                       |  | 3 Month LIBOR |  | Construction & Building                       |  | 625                              |  |         | 615      |              |  | 622      |  |
| H.W. Lochner, Inc., 0.50% Unfunded, 7/2/2027                                                 |  | None          |  | Construction & Building                       |  | 375                              |  |         | —  |              |  | (2)           |  |
| Harland Clarke Holdings Corp., L+775, 1.00% LIBOR Floor, 6/16/2026(m)                        |  | 1 Month LIBOR |  | Services: Business                            |  | 9,500                            |  |         | 9,489    |              |  | 7,933    |  |
| Heritage Power, LLC, L+600, 1.00% LIBOR Floor, 7/30/2026                                     |  | 6 Month LIBOR |  | Energy: Oil & Gas                         |  | 6,645                            |  |         | 5,885    |              |  | 4,851    |  |
| Hilliard, Martinez & Gonzales, LLP, L+1800, 2.00% LIBOR Floor, 12/17/2022(m)(t)          |  | 1 Month LIBOR |  | Services: Consumer                            |  | 20,163                           |  |         | 20,092   |              |  | 19,182   |  |
| Homer City Generation, L.P., 15.00%, 4/5/2023(m)(t)                                          |  | None          |  | Energy: Oil & Gas                         |  | 10,549                           |  |         | 10,885   |              |  | 8,228    |  |
| Homer City Generation, L.P., L+1400, 1.00% LIBOR Floor, 4/29/2022                            |  | 1 Month LIBOR |  | Energy: Oil & Gas                         |  | 1,000                            |  |         | 986      |              |  | 1,000    |  |
| Homer City Generation, L.P., 0.00% Unfunded, 4/29/2022(o)                                    |  | None          |  | Energy: Oil & Gas                         |  | 1,000                            |  |         | —  |              |  | —  |  |
| Hoover Group, Inc., L+850, 1.25% LIBOR Floor, 10/1/2024(n)                                   |  | 3 Month LIBOR |  | Services: Business                            |  | 5,143                            |  |         | 5,129    |              |  | 5,098    |  |
| HUMC Holdco, LLC, 9.00%, 1/14/2022(m)                                                        |  | None          |  | Healthcare & Pharmaceuticals                  |  | 9,055                            |  |         | 9,055    |              |  | 9,021    |  |
| HW Acquisition, LLC, L+600, 1.00% LIBOR Floor, 9/28/2026(m)                                  |  | 3 Month LIBOR |  | Capital Equipment                                 |  | 19,019                           |  |         | 18,850   |              |  | 18,639   |  |
| HW Acquisition, LLC, L+600, 1.00% LIBOR Floor, 9/28/2026                                     |  | 3 Month LIBOR |  | Capital Equipment                                 |  | 733                              |  |         | 707      |              |  | 719      |  |
| HW Acquisition, LLC, 0.50% Unfunded, 9/28/2026                                               |  | None          |  | Capital Equipment                                 |  | 2,200                            |  |         | —  |              |  | (44)          |  |
| Independent Pet Partners Intermediate Holdings, LLC, 6.00%, 11/20/2023(m)(t)                 |  | None          |  | Retail                                            |  | 10,449                           |  |         | 10,399   |              |  | 9,313    |  |
| Independent Pet Partners Intermediate Holdings, LLC, Prime+550, 12/22/2022(m)                |  | Prime         |  | Retail                                            |  | 2,085                            |  |         | 2,085    |              |  | 2,085    |  |
| Independent Pet Partners Intermediate Holdings, LLC, L+600, 0.00% LIBOR Floor, 12/22/2022(m) |  | 3 Month LIBOR |  | Retail                                            |  | 264                              |  |         | 264      |              |  | 264      |  |
| InfoGroup Inc., L+500, 1.00% LIBOR Floor, 4/3/2023(m)(n)                                     |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 15,392                           |  |         | 15,388   |              |  | 14,648   |  |
| Inotiv, Inc., L+625, 1.00% LIBOR Floor, 11/5/2026(m)                                         |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 12,269                           |  |         | 12,044   |              |  | 12,147   |  |
| Inotiv, Inc., L+625, 1.00% LIBOR Floor, 11/5/2026(m)                                         |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 2,095                            |  |         | 2,056    |              |  | 2,074    |  |
| Inotiv, Inc., 1.00% Unfunded, 5/5/2023                                                       |  | None          |  | Healthcare & Pharmaceuticals                  |  | 2,100                            |  |         | (41)          |              |  | (21)          |  |
| Instant Web, LLC, L+700, 1.00% LIBOR Floor, 2/25/2027(m)(n)(r)(t)                            |  | 1 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 37,073                           |  |         | 37,063   |              |  | 30,261   |  |
| Instant Web, LLC, Prime+375, 2/25/2027(r)                                                    |  | Prime         |  | Media: Advertising, Printing & Publishing |  | 458                              |  |         | 458      |              |  | 455      |  |
| Instant Web, LLC, L+650, 1.00% LIBOR Floor, 2/25/2027(r)                                     |  | 1 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 105                              |  |         | 105      |              |  | 104      |  |
| Instant Web, LLC, 0.50% Unfunded, 2/25/2027(r)                                               |  | None          |  | Media: Advertising, Printing & Publishing |  | 2,599                            |  |         | —  |              |  | (16)          |  |
| Instant Web, LLC, 0.50% Unfunded, 2/25/2027(r)                                               |  | None          |  | Media: Advertising, Printing & Publishing |  | 3,246                            |  |         | —  |              |  | (20)          |  |
| Invincible Boat Company LLC, L+650, 1.50% LIBOR Floor, 8/28/2025(m)                          |  | 3 Month LIBOR |  | Consumer Goods: Durable                       |  | 13,536                           |  |         | 13,451   |              |  | 13,536   |  |
| Invincible Boat Company LLC, 0.50% Unfunded, 8/28/2025                                       |  | None          |  | Consumer Goods: Durable                       |  | 798                              |  |         | —  |              |  | —  |  |
| INW Manufacturing, LLC, L+575, 0.75% LIBOR Floor, 5/7/2027(n)                                |  | 3 Month LIBOR |  | Services: Business                            |  | 19,500                           |  |         | 18,990   |              |  | 19,110   |  |
| Isagenix International, LLC, L+575, 1.00% LIBOR Floor, 6/14/2025(m)                          |  | 3 Month LIBOR |  | Beverage, Food & Tobacco                      |  | 16,328                           |  |         | 14,935   |              |  | 14,736   |  |
| Jenny C Acquisition, Inc., L+900, 1.75% LIBOR Floor, 10/1/2024(m)(t)                         |  | 3 Month LIBOR |  | Services: Consumer                            |  | 11,297                           |  |         | 11,248   |              |  | 9,498    |  |

----

|                                                                                            |  |               |  |                                                   |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                       |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| JP Intermediate B, LLC, L+550, 1.00% LIBOR Floor, 11/20/2025(m)                    |  | 3 Month LIBOR |  | Beverage, Food & Tobacco                      |  | 14,126                           |  |         | 13,946   |              |  | 12,351   |  |
| K&N Parent, Inc., L+475, 1.00% LIBOR Floor, 10/20/2023                         |  | 3 Month LIBOR |  | Consumer Goods: Durable                       |  | 11,124                           |  |         | 10,801   |              |  | 10,624   |  |
| KNB Holdings Corp., L+550, 1.00% LIBOR Floor, 4/26/2024(m)                         |  | 6 Month LIBOR |  | Consumer Goods: Durable                       |  | 7,799                            |  |         | 7,725    |              |  | 5,381    |  |
| LaserAway Intermediate Holdings II, LLC, L+575, 0.75% LIBOR Floor, 10/12/2027(m)   |  | 3 Month LIBOR |  | Services: Consumer                            |  | 9,975                            |  |         | 9,789    |              |  | 9,875    |  |
| LAV Gear Holdings, Inc., L+750, 1.00% LIBOR Floor, 10/31/2024(m)(n)(t)             |  | 3 Month LIBOR |  | Services: Business                            |  | 26,477                           |  |         | 26,204   |              |  | 25,219   |  |
| LAV Gear Holdings, Inc., L+750, 1.00% LIBOR Floor, 10/31/2024(m)(n)(t)             |  | 3 Month LIBOR |  | Services: Business                            |  | 4,567                            |  |         | 4,535    |              |  | 4,350    |  |
| LGC US Finco, LLC, L+650, 1.00% LIBOR Floor, 12/20/2025(m)                         |  | 1 Month LIBOR |  | Capital Equipment                                 |  | 11,699                           |  |         | 11,392   |              |  | 11,450   |  |
| LH Intermediate Corp., L+750, 1.00% LIBOR Floor, 6/2/2026(m)                       |  | 3 Month LIBOR |  | Consumer Goods: Durable                       |  | 14,250                           |  |         | 14,057   |              |  | 14,090   |  |
| Lift Brands, Inc., L+750, 1.00% LIBOR Floor, 6/29/2025(m)(n)(r)                    |  | 1 Month LIBOR |  | Services: Consumer                            |  | 23,464                           |  |         | 23,464   |              |  | 23,406   |  |
| Lift Brands, Inc., 9.50%, 6/29/2025(m)(n)(r)(t)                                    |  | None          |  | Services: Consumer                            |  | 5,469                            |  |         | 5,388    |              |  | 5,114    |  |
| Lift Brands, Inc., 6/29/2025(m)(n)(p)(r)                                           |  | None          |  | Services: Consumer                            |  | 5,296                            |  |         | 4,847    |              |  | 4,634    |  |
| Longview Power, LLC, L+1000, 1.50% LIBOR Floor, 7/30/2025(r)                       |  | 3 Month LIBOR |  | Energy: Oil & Gas                         |  | 4,179                            |  |         | 2,656    |              |  | 4,524    |  |
| MacNeill Pride Group Corp., S+625, 1.00% SOFR Floor, 4/20/2026(m)                  |  | 3 Month SOFR  |  | Services: Consumer                            |  | 17,940                           |  |         | 17,785   |              |  | 17,760   |  |
| MacNeill Pride Group Corp., S+625, 1.00% SOFR Floor, 4/20/2026(m)                  |  | 3 Month SOFR  |  | Services: Consumer                            |  | 5,196                            |  |         | 5,109    |              |  | 5,144    |  |
| MacNeill Pride Group Corp., 1.00% Unfunded, 4/30/2024                              |  | None          |  | Services: Consumer                            |  | 4,783                            |  |         | —  |              |  | (48)          |  |
| Manus Bio Inc., 11.00%, 8/20/2026                                                  |  | None          |  | Healthcare & Pharmaceuticals                  |  | 10,000                           |  |         | 10,000   |              |  | 10,000   |  |
| Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028            |  | 3 Month LIBOR |  | Diversified Financials                            |  | 6,335                            |  |         | 6,219    |              |  | 6,304    |  |
| Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028            |  | 3 Month LIBOR |  | Diversified Financials                            |  | 1,493                            |  |         | 1,471    |              |  | 1,486    |  |
| Marble Point Credit Management LLC, 0.50% Unfunded, 8/11/2028                      |  | None          |  | Diversified Financials                            |  | —                          |  |         | —  |              |  | —  |  |
| Mimeo.com, Inc., L+620, 1.00% LIBOR Floor, 12/21/2023                              |  | 3 Month LIBOR |  | Services: Business                            |  | 22,846                           |  |         | 22,846   |              |  | 22,874   |  |
| Mimeo.com, Inc., L+620, 1.00% LIBOR Floor, 12/21/2023                              |  | 3 Month LIBOR |  | Services: Business                            |  | 256                              |  |         | 256      |              |  | 256      |  |
| Mimeo.com, Inc., 1.00% Unfunded, 12/21/2023                                        |  | None          |  | Services: Business                            |  | 5,000                            |  |         | —  |              |  | 6        |  |
| Molded Devices, Inc., L+600, 1.00% LIBOR Floor, 11/1/2026(m)                       |  | 3 Month LIBOR |  | Services: Business                            |  | 15,535                           |  |         | 15,391   |              |  | 15,379   |  |
| Molded Devices, Inc., L+600, 1.00% LIBOR Floor, 11/1/2026                          |  | 3 Month LIBOR |  | Services: Business                            |  | 620                              |  |         | 604      |              |  | 613      |  |
| Molded Devices, Inc., 1.00% Unfunded, 11/1/2026                                    |  | None          |  | Services: Business                            |  | 1,151                            |  |         | —  |              |  | (12)          |  |
| Molded Devices, Inc., 0.50% Unfunded, 11/1/2026                                    |  | None          |  | Services: Business                            |  | 2,656                            |  |         | (12)          |              |  | (27)          |  |
| Moss Holding Company, L+700, 1.00% LIBOR Floor, 4/17/2024(m)(n)(t)                 |  | 3 Month LIBOR |  | Services: Business                            |  | 19,665                           |  |         | 19,544   |              |  | 18,338   |  |
| Moss Holding Company, 0.50% Unfunded, 4/17/2023                                    |  | None          |  | Services: Business                            |  | 2,232                            |  |         | —  |              |  | —  |  |
| NASCO Healthcare Inc., L+550, 1.00% LIBOR Floor, 6/30/2023(m)                      |  | 6 Month LIBOR |  | Services: Business                            |  | 17,409                           |  |         | 17,409   |              |  | 17,170   |  |
| Neptune Flood Inc., L+600, 1.00% LIBOR Floor, 10/21/2026(m)                        |  | 3 Month LIBOR |  | Banking, Finance, Insurance & Real Estate     |  | 9,642                            |  |         | 9,576    |              |  | 9,642    |  |
| NewsCycle Solutions, Inc., L+700, 1.00% LIBOR Floor, 12/29/2022(m)(n)              |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 12,539                           |  |         | 12,503   |              |  | 12,571   |  |
| Novum Orthopedic Partners Management, LLC, L+575, 1.00% LIBOR Floor, 12/29/2027(m) |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 10,109                           |  |         | 9,957    |              |  | 9,957    |  |
| Novum Orthopedic Partners Management, LLC, 1.00% Unfunded, 12/29/2023              |  | None          |  | Healthcare & Pharmaceuticals                  |  | 4,891                            |  |         | (49)          |              |  | (73)          |  |
| NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026(m)                     |  | 3 Month LIBOR |  | High Tech Industries                              |  | 13,066                           |  |         | 12,955   |              |  | 13,066   |  |
| NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026                        |  | 3 Month LIBOR |  | High Tech Industries                              |  | 420                              |  |         | 402      |              |  | 420      |  |
| NWN Parent Holdings LLC, 0.50% Unfunded, 5/7/2026                                  |  | None          |  | High Tech Industries                              |  | 1,380                            |  |         | —  |              |  | —  |  |

----

|                                                                                     |  |               |  |                                               |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------|--|---------------|--|-----------------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                |  | Index Rate(b) |  | Industry                                      |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| Optio Rx, LLC, L+700, 0.00% LIBOR Floor, 6/28/2024(m)(n)                    |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 23,031                           |  |         | 22,953   |              |  | 22,830   |  |
| Optio Rx, LLC, L+1000, 0.00% LIBOR Floor, 6/28/2024(n)                      |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 2,515                            |  |         | 2,500    |              |  | 2,647    |  |
| Optio Rx, LLC, 0.00% Unfunded, 12/21/2022(m)(n)(o)                          |  | None          |  | Healthcare & Pharmaceuticals              |  | 1,530                            |  |         | —  |              |  | (13)          |  |
| Pentec Acquisition Corp., L+600, 1.00% LIBOR Floor, 10/8/2026(m)            |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 24,938                           |  |         | 24,710   |              |  | 24,688   |  |
| PetroChoice Holdings, Inc., L+500, 1.00% LIBOR Floor, 8/20/2022             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 3,885                            |  |         | 3,849    |              |  | 3,671    |  |
| PH Beauty Holdings III. Inc., L+500, 0.00% LIBOR Floor, 9/28/2025(m)        |  | 3 Month LIBOR |  | Consumer Goods: Non-Durable               |  | 9,650                            |  |         | 9,178    |              |  | 8,878    |  |
| Playboy Enterprises, Inc., L+575, 0.50% LIBOR Floor, 5/25/2027(h)(n)        |  | 3 Month LIBOR |  | Consumer Goods: Non-Durable               |  | 28,534                           |  |         | 27,980   |              |  | 28,106   |  |
| Polymer Additives, Inc., L+600, 0.00% LIBOR Floor, 7/31/2025(m)             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 19,350                           |  |         | 19,140   |              |  | 18,576   |  |
| RA Outdoors, LLC, L+675, 1.00% LIBOR Floor, 4/8/2026(m)                     |  | 3 Month LIBOR |  | Media: Diversified & Production       |  | 15,177                           |  |         | 15,177   |              |  | 14,930   |  |
| RA Outdoors, LLC, L+675, 1.00% LIBOR Floor, 4/8/2026                        |  | 3 Month LIBOR |  | Media: Diversified & Production       |  | 420                              |  |         | 250      |              |  | 413      |  |
| RA Outdoors, LLC, 0.50% Unfunded, 4/8/2026                                  |  | None          |  | Media: Diversified & Production       |  | 630                              |  |         | —  |              |  | (10)          |  |
| Retail Services WIS Corp., L+775, 1.00% LIBOR Floor, 5/20/2025(m)           |  | 3 Month LIBOR |  | Services: Business                        |  | 9,862                            |  |         | 9,650    |              |  | 9,714    |  |
| Robert C. Hilliard, L.L.P., L+1800, 2.00% LIBOR Floor, 12/17/2022(m)(t)     |  | 1 Month LIBOR |  | Services: Consumer                        |  | 1,679                            |  |         | 1,679    |              |  | 1,597    |  |
| Rogers Mechanical Contractors, LLC, L+650, 1.00% LIBOR Floor, 9/9/2025(m)   |  | 1 Month LIBOR |  | Services: Business                        |  | 17,029                           |  |         | 17,029   |              |  | 17,029   |  |
| Rogers Mechanical Contractors, LLC, 1.00% Unfunded, 9/9/2025                |  | None          |  | Services: Business                        |  | 1,923                            |  |         | —  |              |  | —  |  |
| Rogers Mechanical Contractors, LLC, 0.75% Unfunded, 9/9/2022                |  | None          |  | Services: Business                        |  | 2,885                            |  |         | —  |              |  | —  |  |
| RumbleOn, Inc., L+825, 1.00% LIBOR Floor, 8/31/2026(m)                      |  | 3 Month LIBOR |  | Automotive                                    |  | 13,930                           |  |         | 12,974   |              |  | 13,338   |  |
| RumbleOn, Inc., L+825, 1.00% LIBOR Floor, 8/31/2026                         |  | 3 Month LIBOR |  | Automotive                                    |  | 4,214                            |  |         | 4,161    |              |  | 4,035    |  |
| RumbleOn, Inc., 0.00% Unfunded, 2/28/2023(o)                                |  | None          |  | Automotive                                    |  | 1,775                            |  |         | —  |              |  | (75)          |  |
| Securus Technologies Holdings, Inc., L+450, 1.00% LIBOR Floor, 11/1/2024(m) |  | 3 Month LIBOR |  | Telecommunications                            |  | 3,898                            |  |         | 3,246    |              |  | 3,898    |  |
| Sequoia Healthcare Management, LLC, 12.75%, 8/21/2023(m)(n)(q)              |  | None          |  | Healthcare & Pharmaceuticals              |  | 8,525                            |  |         | 8,457    |              |  | 6,394    |  |
| SIMR, LLC, L+1700, 2.00% LIBOR Floor, 9/7/2023(r)(t)                        |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 20,760                           |  |         | 20,651   |              |  | 17,283   |  |
| Sleep Opco, LLC, L+650, 1.00% LIBOR Floor, 10/12/2026(m)                    |  | 3 Month LIBOR |  | Retail                                        |  | 13,217                           |  |         | 12,974   |              |  | 13,101   |  |
| Sleep Opco, LLC, 0.50% Unfunded, 10/12/2026(m)                              |  | None          |  | Retail                                        |  | 1,750                            |  |         | (32)          |              |  | (15)          |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)          |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 12,495                           |  |         | 12,472   |              |  | 10,621   |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 1,080                            |  |         | 1,080    |              |  | 913      |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 706                              |  |         | 608      |              |  | 597      |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 665                              |  |         | 663      |              |  | 562      |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 559                              |  |         | 482      |              |  | 515      |  |
| Tenere Inc., L+850, 1.00% LIBOR Floor, 5/5/2025(m)(n)                       |  | 3 Month LIBOR |  | Capital Equipment                             |  | 18,080                           |  |         | 18,070   |              |  | 18,103   |  |
| Tensar Corp., L+675, 1.00% LIBOR Floor, 11/20/2025(m)                       |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 4,938                            |  |         | 4,846    |              |  | 4,951    |  |
| Trademark Global, LLC, L+600, 1.00% LIBOR Floor, 7/30/2024                  |  | 1 Month LIBOR |  | Services: Business                        |  | 15,308                           |  |         | 15,249   |              |  | 14,695   |  |
| Trademark Global, LLC, 1.00% Unfunded, 7/30/2023                            |  | None          |  | Services: Business                        |  | 4,615                            |  |         | (19)          |              |  | (185)         |  |
| Trammell, P.C., L+1800, 2.00% LIBOR Floor, 6/25/2023(t)                     |  | 1 Month LIBOR |  | Services: Consumer                        |  | 19,915                           |  |         | 19,915   |              |  | 19,915   |  |
| USALCO, LLC, L+600, 1.00% LIBOR Floor, 10/19/2027(m)                        |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 24,938                           |  |         | 24,705   |              |  | 24,813   |  |
| Vesta Holdings, LLC, L+1000, 1.00% LIBOR Floor, 2/25/2024(m)(t)             |  | 1 Month LIBOR |  | Banking, Finance, Insurance & Real Estate |  | 24,122                           |  |         | 24,122   |              |  | 24,484   |  |

----

|                                                                                              |  |               |  |                                                   |  |                                       |  |                 |               |              |                 |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--|-----------------|---------------|--------------|-----------------|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                         |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d)         |               | FairValue(c) |
| Volta Charging, LLC, 12.00%, 6/19/2024(m)                                            |  | None          |  | Media: Diversified & Production           |  | 12,000                           |  |                 | 11,989   |              |                 | 13,065   |  |
| Volta Charging, LLC, 12.00%, 6/19/2024(m)                                            |  | None          |  | Media: Diversified & Production           |  | 8,250                            |  |                 | 8,250    |              |                 | 8,982    |  |
| West Dermatology Management Holdings, LLC, L+750, 1.00% LIBOR Floor, 2/11/2025       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 1,170                            |  |                 | 1,170    |              |                 | 1,170    |  |
| West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m)(n) |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 9,417                            |  |                 | 9,377    |              |                 | 9,417    |  |
| West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m)    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 3,611                            |  |                 | 3,587    |              |                 | 3,607    |  |
| West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m)    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 1,105                            |  |                 | 1,093    |              |                 | 1,105    |  |
| West Dermatology Management Holdings, LLC, 0.75% Unfunded, 2/11/2022                 |  | None          |  | Healthcare & Pharmaceuticals                  |  | 5,230                            |  |                 | —  |              |                 | —  |  |
| West Dermatology Management Holdings, LLC, 0.75% Unfunded, 2/11/2025                 |  | None          |  | Healthcare & Pharmaceuticals                  |  | 472                              |  |                 | —  |              |                 | —  |  |
| West Dermatology Management Holdings, LLC, 0.50% Unfunded, 2/11/2025(m)              |  | None          |  | Healthcare & Pharmaceuticals                  |  | 552                              |  |                 | —  |              |                 | —  |  |
| Williams Industrial Services Group, Inc, L+900, 1.00% LIBOR Floor, 12/16/2025(n)     |  | 1 Month LIBOR |  | Services: Business                            |  | 9,700                            |  |                 | 9,700    |              |                 | 9,736    |  |
| Williams Industrial Services Group, Inc, 0.50% Unfunded, 6/16/2022                   |  | None          |  | Services: Business                            |  | 5,000                            |  |                 | —  |              |                 | 19       |  |
| Wind River Systems, Inc., L+675, 1.00% LIBOR Floor, 6/24/2024(n)                     |  | 3 Month LIBOR |  | High Tech Industries                              |  | 23,355                           |  |                 | 23,201   |              |                 | 23,355   |  |
| Wok Holdings Inc., L+625, 0.00% LIBOR Floor, 3/1/2026(m)                             |  | 1 Month LIBOR |  | Beverage, Food & Tobacco                      |  | 20,287                           |  |                 | 19,859   |              |                 | 20,046   |  |
| Xenon Arc, Inc., L+600, 0.75% LIBOR Floor, 12/17/2027(m)                             |  | 3 Month LIBOR |  | High Tech Industries                              |  | 9,975                            |  |                 | 9,858    |              |                 | 9,850    |  |
| Total Senior Secured First Lien Debt                                                         |  |               |  |                                                   |  |                                       |  | 1,648,172  |               |              | 1,597,364  |               |
| Senior Secured Second Lien Debt - 4.0%                                                       |  |               |  |                                                   |  |                                       |  |                 |               |              |
| Deluxe Entertainment Services, Inc., L+850, 1.00% LIBOR Floor, 9/25/2024(m)(q)(r)(t) |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 10,599                           |  |                 | 10,017   |              |                 | —  |  |
| Global Tel*Link Corp., S+1000, 0.00% SOFR Floor, 11/29/2026(n)                       |  | 1 Month SOFR  |  | Telecommunications                                |  | 11,500                           |  |                 | 11,365   |              |                 | 11,543   |  |
| PetroChoice Holdings, Inc., L+875, 1.00% LIBOR Floor, 8/21/2023                      |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber                  |  | 15,000                           |  |                 | 14,590   |              |                 | 12,094   |  |
| Premiere Global Services, Inc., L+950, 1.00% LIBOR Floor, 6/6/2024(q)(t)             |  | 3 Month LIBOR |  | Telecommunications                                |  | 3,871                            |  |                 | 3,435    |              |                 | —  |  |
| Securus Technologies Holdings, Inc., L+825, 1.00% LIBOR Floor, 11/1/2025             |  | 3 Month LIBOR |  | Telecommunications                                |  | 2,942                            |  |                 | 2,925    |              |                 | 2,942    |  |
| TMK Hawk Parent, Corp., L+800, 1.00% LIBOR Floor, 8/28/2025                          |  | 1 Month LIBOR |  | Services: Business                            |  | 13,393                           |  |                 | 13,215   |              |                 | 10,296   |  |
| Total Senior Secured Second Lien Debt                                                        |  |               |  |                                                   |  |                                       |  | 55,547     |               |              | 36,875     |               |
| Collateralized Securities and Structured Products - Equity - 0.3%                            |  |               |  |                                                   |  |                                       |  |                 |               |              |
| APIDOS CLO XVI Subordinated Notes, 0.00% Estimated Yield, 1/19/2025(h)               |  | (g)           |  | Diversified Financials                            |  | 9,000                            |  |                 | 2,031    |              |                 | 826      |  |
| Galaxy XV CLO Ltd. Class A Subordinated Notes, 5.76% Estimated Yield, 4/15/2025(h)   |  | (g)           |  | Diversified Financials                            |  | 4,000                            |  |                 | 1,664    |              |                 | 1,806    |  |
| Total Collateralized Securities and Structured Products - Equity                             |  |               |  |                                                   |  |                                       |  | 3,695      |               |              | 2,632      |               |
| Unsecured Debt - 2.9%                                                                        |  |               |  |                                                   |  |                                       |  |                 |               |              |
| Lucky Bucks Holdings LLC, 12.50%, 5/29/2028(t)                                       |  | None          |  | Hotel, Gaming & Leisure                       |  | 20,842                           |  |                 | 20,842   |              |                 | 20,842   |  |
| WPLM Acquisition Corp., 15.00%, 11/24/2025(t)                                        |  | None          |  | Media: Advertising, Printing & Publishing |  | 6,628                            |  |                 | 6,562    |              |                 | 6,438    |  |
| Total Unsecured Debt                                                                         |  |               |  |                                                   |  |                                       |  | 27,404     |               |              | 27,280     |               |
| Equity - 8.2%                                                                                |  |               |  |                                                   |  |                                       |  |                 |               |              |
| ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r)                      |  |               |  | Metals & Mining                               |  | N/A                               |  | —    |               |              | 5          |               |
| Ascent Resources - Marcellus, LLC, Membership Units(o)                                       |  |               |  | Energy: Oil & Gas                         |  | 511,255 Units                         |  | 1,642      |               |              | 639        |               |

----

|                                                                                   |  |  |  |                                                   |  |                                       |  |               |                 |              |               |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------|--|--|--|---------------------------------------------------|--|---------------------------------------|--|---------------|-----------------|--------------|---------------|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                              |  |  |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d)       |                 | FairValue(c) |
| Ascent Resources - Marcellus, LLC, Warrants(o)                                    |  |  |  | Energy: Oil & Gas                         |  | 132,367 Units                         |  | 13       |                 |              | 3        |                 |
| CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s)         |  |  |  | Diversified Financials                            |  | 22,072,841 Units                      |  | 22,073   |                 |              | 29,546   |                 |
| CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s)       |  |  |  | Diversified Financials                            |  | NA                                    |  | —  |                 |              | —  |                 |
| DBI Investors, Inc., Series A1 Preferred Stock(o)                                 |  |  |  | Retail                                            |  | 20,000 Units                          |  | 802      |                 |              | 2,295    |                 |
| DBI Investors, Inc., Series A2 Preferred Stock(o)                                 |  |  |  | Retail                                            |  | 1,733 Units                           |  | —  |                 |              | 186      |                 |
| DBI Investors, Inc., Series A Preferred Stock(o)                                  |  |  |  | Retail                                            |  | 1,396 Units                           |  | 140      |                 |              | 167      |                 |
| DBI Investors, Inc., Series B Preferred Stock(o)                                  |  |  |  | Retail                                            |  | 4,183 Units                           |  | 410      |                 |              | 157      |                 |
| DBI Investors, Inc., Common Stock(o)                                              |  |  |  | Retail                                            |  | 39,423 Units                          |  | —  |                 |              | —  |                 |
| DBI Investors, Inc., Reallocation Rights(o)                                       |  |  |  | Retail                                            |  | 7,500 Units                           |  | —  |                 |              | —  |                 |
| GSC Technologies Inc., Common Shares(o)(r)                                        |  |  |  | Chemicals, Plastics & Rubber                  |  | 807,268 Units                         |  | —  |                 |              | —  |                 |
| Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o)   |  |  |  | Retail                                            |  | 1,000,000 Units                       |  | 1,000    |                 |              | 30       |                 |
| Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(o) |  |  |  | Retail                                            |  | 2,632,771 Units                       |  | 2,133    |                 |              | 3,949    |                 |
| Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(o)   |  |  |  | Retail                                            |  | 2,632,771 Units                       |  | 2,633    |                 |              | 2,844    |                 |
| Independent Pet Partners Intermediate Holdings, LLC, Warrants(o)                  |  |  |  | Retail                                            |  | 155,880 Units                         |  | —  |                 |              | —  |                 |
| Instant Web Holdings, LLC, Class A Common Units(o)(r)                             |  |  |  | Media: Advertising, Printing & Publishing |  | 10,819 Units                          |  | —  |                 |              | —  |                 |
| Language Education Holdings GP LLC, Common Units(o)(r)                            |  |  |  | Services: Business                            |  | 500,000 Units                         |  | —  |                 |              | —  |                 |
| Language Education Holdings LP, Ordinary Common Units(o)(r)                       |  |  |  | Services: Business                            |  | 500,000 Units                         |  | 1,125    |                 |              | 1,125    |                 |
| Longview Intermediate Holdings C, LLC, Membership Units(o)(r)                     |  |  |  | Energy: Oil & Gas                         |  | 653,989 Units                         |  | 2,704    |                 |              | 17,828   |                 |
| Mooregate ITC Acquisition, LLC, Class A Units(o)                                  |  |  |  | High Tech Industries                              |  | 500 Units                             |  | 562      |                 |              | 184      |                 |
| Mount Logan Capital Inc., Common Stock(f)(h)(r)                                   |  |  |  | Banking, Finance, Insurance & Real Estate     |  | 1,075,557 Units                       |  | 3,534    |                 |              | 3,432    |                 |
| NS NWN Acquisition, LLC, Class A Preferred Units(o)                               |  |  |  | High Tech Industries                              |  | 111 Units                             |  | 110      |                 |              | 2,376    |                 |
| NS NWN Acquisition, LLC, Non-Voting Units(o)                                      |  |  |  | High Tech Industries                              |  | 346 Units                             |  | 393      |                 |              | —  |                 |
| NS NWN Holdco LLC, Voting Units(o)                                                |  |  |  | High Tech Industries                              |  | 522 Units                             |  | 504      |                 |              | 524      |                 |
| NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o)                           |  |  |  | Consumer Goods: Durable                       |  | 1,575 Units                           |  | 1,000    |                 |              | 718      |                 |
| Palmetto Clean Technology, Inc., Warrants(o)                                      |  |  |  | High Tech Industries                              |  | 724,112 Units                         |  | 472      |                 |              | 3,411    |                 |
| RumbleOn, Inc., Warrants(o)                                                       |  |  |  | Automotive                                        |  | 60,606 Units                          |  | 927      |                 |              | 553      |                 |
| SIMR Parent, LLC, Class B Common Units(o)(r)                                      |  |  |  | Healthcare & Pharmaceuticals                  |  | 12,283,163 Units                      |  | 8,002    |                 |              | —  |                 |
| SIMR Parent, LLC, Class W Units(o)(r)                                             |  |  |  | Healthcare & Pharmaceuticals                  |  | 1,778,219 Units                       |  | —  |                 |              | —  |                 |
| Snap Fitness Holdings, Inc., Class A Common Stock(o)(r)                           |  |  |  | Services: Consumer                            |  | 9,858 Units                           |  | 3,078    |                 |              | 3,850    |                 |
| Snap Fitness Holdings, Inc., Warrants(o)(r)                                       |  |  |  | Services: Consumer                            |  | 3,996 Units                           |  | 1,247    |                 |              | 1,561    |                 |
| Total Equity                                                                      |  |  |  |                                                   |  |                                       |  | 54,504   |                 |              | 75,383   |                 |
| Short Term Investments - 1.7%(k)                                                  |  |  |  |                                                   |  |                                       |  |               |                 |              |
| First American Treasury Obligations Fund, Class Z Shares, 0.18%(l)                |  |  |  |                                                   |  |                                       |  | 15,763   |                 |              | 15,763   |                 |
| Total Short Term Investments                                                      |  |  |  |                                                   |  |                                       |  | 15,763   |                 |              | 15,763   |                 |
| TOTAL INVESTMENTS - 190.3%                                                        |  |  |  |                                                   |  |                                       |  | $             | 1,805,085  |              |               | 1,755,297  |  |
| LIABILITIES IN EXCESS OF OTHER ASSETS - (90.3)%                                   |  |  |  |                                                   |  |                                       |  |               |                 | (832,844)    |               |
| NET ASSETS - 100%                                                                 |  |  |  |                                                   |  |                                       |  |               |                 | $            | 922,453  |                 |

----

----

|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |               |   |               |               |  |   |               |  |  |   |               |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------|--|--------------------------------|---------------|---------------------------------------------|---------------|--------------------------|---------------|--------------------------------------------------|--|------------------------------|---------------|-------------------------------|--|-------------------|---------|-----------------|---------------|---|---------------|---------------|--|---|---------------|--|--|---|---------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                   |  |                                |               | Three Months Ended March 31, 2022 |               |                          |               | Three Months Ended March 31, 2022 |
| Non-Controlled, Affiliated Investments                                  |  | Fair Value atDecember 31, 2021 |               | GrossAdditions(Cost)(1)                     |               | GrossReductions(Cost)(2) |               | Net Unrealized Gain (Loss)                  |  | Fair Value at March 31, 2022 |               | Net Realized Gain (Loss) |  | InterestIncome(3) |         | Dividend Income |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|     ARC Financial, LLC                                        |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Membership Interests              |  | $                              | —  |                                             |               | $                        | —  |                                                  |  | $                            | —  |                               |  | $                 | 5  |                 |               | $ | 5        |               |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |
|     Berlitz Holdings, Inc.                                    |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         First Lien Term Loan              |  | —                   |               |                                             | 13,875   |                          |               | —                                     |  |                              | —  |                               |  | 13,875       |         |                 | —  |   |               | 13       |  |   | —  |  |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|     Charming Charlie, LLC                                     |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Vendor Payment Financing Facility |  | 350                       |               |                                             | —  |                          |               | (97)                                             |  |                              | 45       |                               |  | 298          |         |                 | (97)          |   |               | —  |  |   | —  |  |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|     DESG Holdings, Inc.                                       |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         First Lien Term Loan              |  | 1,787                     |               |                                             | —  |                          |               | (298)                                            |  |                              | (961)         |                               |  | 528          |         |                 | —  |   |               | 5        |  |   | —  |  |
|         Second Lien Term Loan             |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | —  |                               |  | —      |         |                 | —  |   |               | —  |  |   | —  |  |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|                                                                                   |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|     GSC Technologies Inc.                                     |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Incremental Term Loan             |  | 170                       |               |                                             | —  |                          |               | (6)                                              |  |                              | —  |                               |  | 164          |         |                 | —  |   |               | 7        |  |   | —  |  |
|         First Lien Term Loan A            |  | 2,001                     |               |                                             | 7        |                          |               | —                                     |  |                              | 2        |                               |  | 2,010        |         |                 | —  |   |               | 43       |  |   | —  |  |
|         First Lien Term Loan B            |  | 485                       |               |                                             | 16       |                          |               | —                                     |  |                              | 12       |                               |  | 513          |         |                 | —  |   |               | 16       |  |   | —  |  |
|         Common Shares                     |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | —  |                               |  | —      |         |                 | —  |   |               | —  |  |   | —  |  |
|     Instant Web Holdings, LLC                                 |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Class A Common Units              |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | —  |                               |  | —      |         |                 | —  |   |               | —  |  |   | —  |  |
|     Instant Web, LLC                                          |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Revolving Loan                    |  | —                   |               |                                             | 104      |                          |               | —                                     |  |                              | (16)          |                               |  | 88           |         |                 | —  |   |               | 2        |  |   | —  |  |
|         Priming Term Loan                 |  | —                   |               |                                             | 458      |                          |               | —                                     |  |                              | (3)           |                               |  | 455          |         |                 | —  |   |               | 4        |  |   | —  |  |
|         First Lien Term Loan              |  | —                   |               |                                             | 37,063   |                          |               | —                                     |  |                              | (6,802)       |                               |  | 30,261       |         |                 | —  |   |               | 558      |  |   | —  |  |
|         First Lien Delayed Draw Term Loan |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | (20)          |                               |  | (20)              |         |                 | —  |   |               | 2        |  |   | —  |  |
|     Language Education Holdings GP LLC                        |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Common Units                      |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | —  |                               |  | —      |         |                 | —  |   |               | —  |  |   | —  |  |
|     Language Education Holdings LP                            |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Ordinary Common Units             |  | —                   |               |                                             | 1,125    |                          |               | —                                     |  |                              | —  |                               |  | 1,125        |         |                 | —  |   |               | —  |  |   | —  |  |
|     Lift Brands, Inc.                                         |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Term Loan A                       |  | 23,406                    |               |                                             | —  |                          |               | (59)                                             |  |                              | 59       |                               |  | 23,406       |         |                 | —  |   |               | 500      |  |   | —  |  |
|         Term Loan B                       |  | 5,156                     |               |                                             | 133      |                          |               | —                                     |  |                              | (175)         |                               |  | 5,114        |         |                 | —  |   |               | 133      |  |   | —  |  |
|         Term Loan C                       |  | 4,700                     |               |                                             | 33       |                          |               | —                                     |  |                              | (99)          |                               |  | 4,634        |         |                 | —  |   |               | 33       |  |   | —  |  |
|     Longview Intermediate Holdings C, LLC                     |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Membership Units                  |  | 15,127                    |               |                                             | —  |                          |               | —                                     |  |                              | 2,701    |                               |  | 17,828       |         |                 | —  |   |               | —  |  |   | —  |  |
|     Longview Power, LLC                                       |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         First Lien Term Loan              |  | 4,504                     |               |                                             | 39       |                          |               | (7)                                              |  |                              | (12)          |                               |  | 4,524        |         |                 | —  |   |               | 163      |  |   | —  |  |
|     Mount Logan Capital Inc.                                  |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Common Stock                      |  | 3,404                     |               |                                             | —  |                          |               | —                                     |  |                              | 28       |                               |  | 3,432        |         |                 | —  |   |               | —  |  |   | —  |  |
|     SIMR, LLC                                                 |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         First Lien Term Loan              |  | 16,000                    |               |                                             | 838      |                          |               | —                                     |  |                              | 445      |                               |  | 17,283       |         |                 | —  |   |               | 989      |  |   | —  |  |
|     SIMR Parent, LLC                                          |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Class B Membership Units          |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | —  |                               |  | —      |         |                 | —  |   |               | —  |  |   | —  |  |
|         Class W Membership Units          |  | —                   |               |                                             | —  |                          |               | —                                     |  |                              | —  |                               |  | —      |         |                 | —  |   |               | —  |  |   | —  |  |
|     Snap Fitness Holdings, Inc.                               |  |                                |               |                                             |               |                          |               |                                                  |  |                              |               |                               |  |                   |         |                 |
|         Class A Stock                     |  | 3,131                     |               |                                             | —  |                          |               | —                                     |  |                              | 719      |                               |  | 3,850        |         |                 | —  |   |               | —  |  |   | —  |  |
|         Warrants                          |  | 1,269                     |               |                                             | —  |                          |               | —                                     |  |                              | 292      |                               |  | 1,561        |         |                 | —  |   |               | —  |  |   | —  |  |
|     Totals                                                    |  | $                              | 81,490   |                                             |               | $                        | 53,691   |                                                  |  | $                            | (467)         |                               |  | $                 | (3,780) |                 |               | $ | 130,934  |               |  | $ | (97)          |  |  | $ | 2,468    |  |  | $ | —  |  |

----

|                                                                                |  |                                |              |                                                  |               |                          |               |                                                  |  |                             |               |                              |  |                   |               |                 |               |   |              |               |  |   |               |  |  |   |             |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------|--|--------------------------------|--------------|--------------------------------------------------|---------------|--------------------------|---------------|--------------------------------------------------|--|-----------------------------|---------------|------------------------------|--|-------------------|---------------|-----------------|---------------|---|--------------|---------------|--|---|---------------|--|--|---|-------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                |  |                                |              | Three Months Ended March 31, 2022 |               |                          |               | Three Months Ended March 31, 2022 |
| Controlled Investments                                                         |  | Fair Value atDecember 31, 2021 |              | GrossAdditions(Cost)(1)                          |               | GrossReductions(Cost)(2) |               | Net UnrealizedGain (Loss)                   |  | Fair Value atMarch 31, 2022 |               | Net RealizedGain (Loss) |  | InterestIncome(3) |               | Dividend Income |
|     CION/EagleTree Partners, LLC                       |  |                                |              |                                                  |               |                          |               |                                                  |  |                             |               |                              |  |                   |               |                 |
|         Senior Secured Note            |  | $                              | 61,629  |                                                  |               | $                        | —  |                                                  |  | $                           | —  |                              |  | $                 | —  |                 |               | $ | 61,629  |               |  | $ | —  |  |  | $ | 2,127  |  |  | $ | —  |  |
|         Participating Preferred Shares |  | 29,796                    |              |                                                  | —  |                          |               | —                                     |  |                             | (250)         |                              |  | 29,546       |               |                 | —  |   |              | —  |  |   | —  |  |
|         Common Shares                  |  | —                   |              |                                                  | —  |                          |               | —                                     |  |                             | —  |                              |  | —      |               |                 | —  |   |              | —  |  |   | —  |  |
|     Totals                                                 |  | $                              | 91,425  |                                                  |               | $                        | —  |                                                  |  | $                           | —  |                              |  | $                 | (250)         |                 |               | $ | 91,175  |               |  | $ | —  |  |  | $ | 2,127  |  |  | $ | —  |  |

----

|                                                     |  |                                 |  |               |  |        |  |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------|--|---------------------------------|--|---------------|--|--------|--|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                |  |                            |  | Interest Rate |
| Portfolio Company                                   |  | Investment Type                 |  | Cash          |  | PIK    |  | All-in-Rate |
| Adapt Laser Acquisition, Inc.                       |  | Senior Secured First Lien Debt  |  | 11.00%        |  | 2.00%  |  | 13.00%      |
| American Consolidated Natural Resources, Inc.       |  | Senior Secured First Lien Debt  |  | 14.00%        |  | 3.00%  |  | 17.00%      |
| Ancile Solutions, Inc.                              |  | Senior Secured First Lien Debt  |  | 8.00%         |  | 3.00%  |  | 11.00%      |
| Anthem Sports & Entertainment Inc.              |  | Senior Secured First Lien Debt  |  | 7.76%         |  | 2.25%  |  | 10.01%      |
| Cadence Aerospace, LLC                              |  | Senior Secured First Lien Debt  |  | 7.50%         |  | 2.00%  |  | 9.50%       |
| CHC Solutions Inc.                                  |  | Senior Secured First Lien Debt  |  | 8.00%         |  | 4.00%  |  | 12.00%      |
| CION/EagleTree Partners, LLC                    |  | Senior Secured Note             |  | —       |  | 14.00% |  | 14.00%      |
| CircusTrix Holdings, LLC                            |  | Senior Secured First Lien Debt  |  | 6.50%         |  | 2.50%  |  | 9.00%       |
| David's Bridal, LLC                                 |  | Senior Secured First Lien Debt  |  | 6.00%         |  | 5.00%  |  | 11.00%      |
| David's Bridal, LLC                                 |  | Senior Secured First Lien Debt  |  | 1.00%         |  | 6.00%  |  | 7.00%       |
| Deluxe Entertainment Services, Inc.                 |  | Senior Secured First Lien Debt  |  | 6.01%         |  | 1.50%  |  | 7.51%       |
| Deluxe Entertainment Services, Inc.                 |  | Senior Secured Second Lien Debt |  | 7.01%         |  | 2.50%  |  | 9.51%       |
| GSC Technologies Inc.                               |  | Senior Secured First Lien Debt  |  | —       |  | 6.00%  |  | 6.00%       |
| GSC Technologies Inc.                               |  | Senior Secured First Lien Debt  |  | 6.00%         |  | 5.00%  |  | 11.00%      |
| Hilliard, Martinez & Gonzales, LLP              |  | Senior Secured First Lien Debt  |  | —       |  | 20.00% |  | 20.00%      |
| Homer City Generation, L.P.                         |  | Senior Secured First Lien Debt  |  | —       |  | 15.00% |  | 15.00%      |
| Independent Pet Partners Intermediate Holdings, LLC |  | Senior Secured First Lien Debt  |  | —       |  | 6.00%  |  | 6.00%       |
| Instant Web, LLC                                    |  | Senior Secured First Lien Debt  |  | —       |  | 8.00%  |  | 8.00%       |
| Jenny C Acquisition, Inc.                           |  | Senior Secured First Lien Debt  |  | —       |  | 10.75% |  | 10.75%      |
| LAV Gear Holdings, Inc.                             |  | Senior Secured First Lien Debt  |  | 6.50%         |  | 2.00%  |  | 8.50%       |
| Lift Brands, Inc.                                   |  | Senior Secured First Lien Debt  |  | —       |  | 9.50%  |  | 9.50%       |
| Lucky Bucks Holdings LLC                            |  | Unsecured Note                  |  | —       |  | 12.50% |  | 12.50%      |
| Moss Holding Company                                |  | Senior Secured First Lien Debt  |  | 7.51%         |  | 0.50%  |  | 8.01%       |
| Premiere Global Services, Inc.                      |  | Senior Secured Second Lien Debt |  | 0.50%         |  | 10.00% |  | 10.50%      |
| Robert C. Hilliard, L.L.P.                          |  | Senior Secured First Lien Debt  |  | —       |  | 20.00% |  | 20.00%      |
| SIMR, LLC                                           |  | Senior Secured First Lien Debt  |  | 12.00%        |  | 7.00%  |  | 19.00%      |
| Spinal USA, Inc. / Precision Medical Inc.       |  | Senior Secured First Lien Debt  |  | —       |  | 9.71%  |  | 9.71%       |
| Trammell, P.C.                                      |  | Senior Secured First Lien Debt  |  | —       |  | 20.00% |  | 20.00%      |
| Vesta Holdings, LLC                                 |  | Senior Secured First Lien Debt  |  | 7.00%         |  | 4.00%  |  | 11.00%      |
| WPLM Acquisition Corp.                              |  | Unsecured Note                  |  | —       |  | 15.00% |  | 15.00%      |
|                                                     |  |                                 |  |               |  |        |  |             |
|                                                     |  |                                 |  |               |  |        |  |             |
|                                                     |  |                                 |  |               |  |        |  |             |
|                                                     |  |                                 |  |               |  |        |  |             |

----

|                                                                                                   |  |               |  |                                                   |  |                                       |             |         |               |              |             |               |  |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|-------------|---------|---------------|--------------|-------------|---------------|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                              |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |             | Cost(d) |               | FairValue(c) |
| Senior Secured First Lien Debt - 164.1%                                                           |  |               |  |                                                   |  |                                  |             |    |               |         |
| ABB/CON-CISE Optical Group LLC, L+500, 1.00% LIBOR Floor, 6/15/2023(i)(n)             |  | 6 Month LIBOR |  | Consumer Goods: Non-Durable                   |  | $                                     | 8,473  |         |               | $            | 8,263  |               |  | $ | 8,219  |  |
| Adapt Laser Acquisition, Inc., L+1200, 1.00% LIBOR Floor, 12/31/2023(t)                   |  | 3 Month LIBOR |  | Capital Equipment                                 |  | 11,181                           |             |         | 11,181   |              |             | 9,392    |  |
| Adapt Laser Acquisition, Inc., L+1000, 1.00% LIBOR Floor, 12/31/2023                      |  | 3 Month LIBOR |  | Capital Equipment                                 |  | 2,000                            |             |         | 2,000    |              |             | 1,680    |  |
| Aegis Toxicology Sciences Corp., L+550, 1.00% LIBOR Floor, 5/9/2025(m)                    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 7,186                            |             |         | 7,105    |              |             | 7,186    |  |
| Alchemy US Holdco 1, LLC, L+550, 10/10/2025(m)                                            |  | 1 Month LIBOR |  | Construction & Building                       |  | 2,287                            |             |         | 2,270    |              |             | 2,289    |  |
| Allen Media, LLC, L+550, 0.00% LIBOR Floor, 2/10/2027(n)                                  |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 8,955                            |             |         | 8,868    |              |             | 8,955    |  |
| ALM Media, LLC, L+700, 1.00% LIBOR Floor, 11/25/2024(m)(n)                                |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 18,000                           |             |         | 17,774   |              |             | 17,460   |  |
| American Clinical Solutions LLC, 7.00%, 12/31/2022(m)                                     |  | None          |  | Healthcare & Pharmaceuticals                  |  | 3,500                            |             |         | 3,462    |              |             | 3,447    |  |
| American Consolidated Natural Resources, Inc., L+1600, 1.00% LIBOR Floor, 9/16/2025(m)(t) |  | 3 Month LIBOR |  | Metals & Mining                               |  | 379                              |             |         | 284      |              |             | 389      |  |
| American Health Staffing Group, Inc., L+600, 1.00% LIBOR Floor, 11/19/2026(m)             |  | 3 Month LIBOR |  | Services: Business                            |  | 16,667                           |             |         | 16,502   |              |             | 16,500   |  |
| American Health Staffing Group, Inc., Prime+500, 11/19/2026                               |  | Prime         |  | Services: Business                            |  | 1,000                            |             |         | 1,000    |              |             | 990      |  |
| American Health Staffing Group, Inc., 0.50% Unfunded, 11/19/2026                          |  | None          |  | Services: Business                            |  | 2,333                            |             |         | (33)          |              |             | (23)          |  |
| American Media, LLC, L+675, 1.50% LIBOR Floor, 12/31/2023(m)                              |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 9,847                            |             |         | 9,735    |              |             | 9,847    |  |
| American Media, LLC, 0.50% Unfunded, 12/31/2023(m)                                        |  | None          |  | Media: Advertising, Printing & Publishing |  | 1,702                            |             |         | (17)          |              |             | —  |  |
| American Teleconferencing Services, Ltd., Prime+550, 6/8/2023(m)(q)                       |  | Prime         |  | Telecommunications                                |  | 16,154                           |             |         | 15,621   |              |             | 3,211    |  |
| American Teleconferencing Services, Ltd., Prime+550, 3/31/2022(m)                         |  | Prime         |  | Telecommunications                                |  | 3,116                            |             |         | 3,033    |              |             | 3,116    |  |
| American Teleconferencing Services, Ltd., 0.00% Unfunded, 3/31/2022(m)(o)                 |  | None          |  | Telecommunications                                |  | 235                              |             |         | —  |              |             | —  |  |
| Analogic Corp., L+525, 1.00% LIBOR Floor, 6/21/2024(m)(n)                                 |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 4,900                            |             |         | 4,853    |              |             | 4,820    |  |
| Ancile Solutions, Inc., L+1000, 1.00% LIBOR Floor, 6/22/2026(t)                           |  | 1 Month LIBOR |  | High Tech Industries                              |  | 12,537                           |             |         | 12,194   |              |             | 12,161   |  |
| Anthem Sports & Entertainment Inc., L+900, 1.00% LIBOR Floor, 11/15/2026(m)(t)        |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 37,966                           |             |         | 37,758   |              |             | 36,543   |  |
| Anthem Sports & Entertainment Inc., L+950, 1.00% LIBOR Floor, 11/15/2026              |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 1,000                            |             |         | 1,000    |              |             | 962      |  |
| Anthem Sports & Entertainment Inc., 0.50% Unfunded, 11/15/2026                        |  | None          |  | Media: Diversified & Production           |  | 1,167                            |             |         | —  |              |             | (44)          |  |
| Appalachian Resource Company, LLC, L+500, 1.00% LIBOR Floor, 9/10/2023                    |  | 1 Month LIBOR |  | Metals & Mining                               |  | 11,137                           |             |         | 9,959    |              |             | 10,538   |  |
| Appalachian Resource Company, LLC, 0.00% Unfunded, 9/10/2023(o)                           |  | None          |  | Metals & Mining                               |  | 500                              |             |         | —  |              |             | —  |  |
| Associated Asphalt Partners, LLC, L+525, 1.00% LIBOR Floor, 4/5/2024(m)(n)                |  | 1 Month LIBOR |  | Construction & Building                       |  | 14,393                           |             |         | 14,095   |              |             | 12,666   |  |
| Avison Young (USA) Inc., L+500, 0.00% LIBOR Floor, 1/31/2026(h)(m)                        |  | 3 Month LIBOR |  | Banking, Finance, Insurance & Real Estate     |  | 2,692                            |             |         | 2,658    |              |             | 2,679    |  |
| Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2027(m)              |  | 1 Month LIBOR |  | Consumer Goods: Durable                       |  | 13,156                           |             |         | 12,831   |              |             | 12,827   |  |
| Bradshaw International Parent Corp., L+575, 1.00% LIBOR Floor, 10/21/2026                 |  | 1 Month LIBOR |  | Consumer Goods: Durable                       |  | 400                              |             |         | 387      |              |             | 390      |  |
| Bradshaw International Parent Corp., 0.50% Unfunded, 10/21/2026                           |  | None          |  | Consumer Goods: Durable                       |  | 1,445                            |             |         | (32)          |              |             | (36)          |  |
| Cadence Aerospace, LLC, L+850, 1.00% LIBOR Floor, 11/14/2023(m)(n)(t)                     |  | 3 Month LIBOR |  | Aerospace & Defense                           |  | 38,960                           |             |         | 38,623   |              |             | 38,279   |  |
| Cardenas Markets LLC, L+625, 1.00% LIBOR Floor, 6/3/2027                                  |  | 6 Month LIBOR |  | Retail                                            |  | 10,945                           |             |         | 10,840   |              |             | 10,972   |  |
| CB URS Holdings Corp., L+575, 1.00% LIBOR Floor, 9/1/2024(m)                              |  | 6 Month LIBOR |  | Transportation: Cargo                         |  | 15,354                           |             |         | 15,310   |              |             | 14,106   |  |
| Celerity Acquisition Holdings, LLC, L+850, 1.00% LIBOR Floor, 5/28/2026                   |  | 1 Month LIBOR |  | Services: Business                            |  | 14,925                           |             |         | 14,925   |              |             | 14,944   |  |
| Charming Charlie LLC, 20.00%, 4/24/2023(q)(r)                                             |  | None          |  | Retail                                            |  | 662                              |             |         | 657      |              |             | 350      |  |
| CHC Solutions Inc., 12.00%, 7/20/2023(n)(t)                                               |  | None          |  | Healthcare & Pharmaceuticals                  |  | 7,966                            |             |         | 7,966    |              |             | 7,916    |  |
|                                                                                                   |  |               |  |                                                   |  |                                       |             |         |               |              |

----

|                                                                                              |  |               |  |                                         |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------|--|---------------|--|-----------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                         |  | Index Rate(b) |  | Industry                                |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| CION/EagleTree Partners, LLC, 14.00%, 12/21/2026(h)(s)(t)                        |  | None          |  | Diversified Financials                  |  | 61,629                           |  |         | 61,629   |              |  | 61,629   |  |
| CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 1/16/2024(m)(n)(t)               |  | 1 Month LIBOR |  | Hotel, Gaming & Leisure             |  | 26,754                           |  |         | 26,734   |              |  | 25,718   |  |
| CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 1/16/2024(m)(t)                  |  | 1 Month LIBOR |  | Hotel, Gaming & Leisure             |  | 2,723                            |  |         | 2,723    |              |  | 2,618    |  |
| CircusTrix Holdings, LLC, L+800, 1.00% LIBOR Floor, 7/16/2023(m)(t)                  |  | 1 Month LIBOR |  | Hotel, Gaming & Leisure             |  | 1,953                            |  |         | 1,836    |              |  | 2,300    |  |
| Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(q)                  |  | 3 Month LIBOR |  | Beverage, Food & Tobacco            |  | 1,020                            |  |         | 984      |              |  | 168      |  |
| Country Fresh Holdings, LLC, L+500, 1.00% LIBOR Floor, 4/29/2023(m)(q)               |  | 3 Month LIBOR |  | Beverage, Food & Tobacco            |  | 414                              |  |         | 414      |              |  | 68       |  |
| Coyote Buyer, LLC, L+600, 1.00% LIBOR Floor, 2/6/2026(m)(n)                          |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 34,388                           |  |         | 34,157   |              |  | 34,302   |  |
| Coyote Buyer, LLC, L+800, 1.00% LIBOR Floor, 8/6/2026(n)                             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 6,188                            |  |         | 6,084    |              |  | 6,188    |  |
| Coyote Buyer, LLC, 0.50% Unfunded, 2/6/2025                                          |  | None          |  | Chemicals, Plastics & Rubber        |  | 2,500                            |  |         | —  |              |  | (6)           |  |
| Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026(m)                 |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 13,059                           |  |         | 13,059   |              |  | 13,059   |  |
| Critical Nurse Staffing, LLC, L+600, 1.00% LIBOR Floor, 11/1/2026                    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 1,009                            |  |         | 1,009    |              |  | 1,009    |  |
| Critical Nurse Staffing, LLC, 1.00% Unfunded, 11/1/2026                              |  | None          |  | Healthcare & Pharmaceuticals        |  | 4,899                            |  |         | —  |              |  | —  |  |
| Critical Nurse Staffing, LLC, 0.50% Unfunded, 11/1/2026                              |  | None          |  | Healthcare & Pharmaceuticals        |  | 1,000                            |  |         | —  |              |  | —  |  |
| David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 6/23/2023(t)                         |  | 3 Month LIBOR |  | Retail                                  |  | 5,617                            |  |         | 5,008    |              |  | 5,617    |  |
| David's Bridal, LLC, L+1000, 1.00% LIBOR Floor, 5/23/2024(t)                         |  | 3 Month LIBOR |  | Retail                                  |  | 5,093                            |  |         | 5,093    |              |  | 5,093    |  |
| David's Bridal, LLC, L+600, 1.00% LIBOR Floor, 6/30/2023(t)                          |  | 3 Month LIBOR |  | Retail                                  |  | 791                              |  |         | 719      |              |  | 791      |  |
| Deluxe Entertainment Services, Inc., L+650, 1.00% LIBOR Floor, 3/25/2024(m)(q)(r)(t) |  | 3 Month LIBOR |  | Media: Diversified & Production |  | 2,930                            |  |         | 2,930    |              |  | 1,787    |  |
| DMT Solutions Global Corp., L+750, 1.00% LIBOR Floor, 7/2/2024(m)                    |  | (u)           |  | Services: Business                  |  | 9,696                            |  |         | 9,563    |              |  | 9,503    |  |
| Entertainment Studios P&A LLC, 5.71%, 5/18/2037(j)(m)                            |  | None          |  | Media: Diversified & Production |  | 11,649                           |  |         | 11,554   |              |  | 10,047   |  |
| Entertainment Studios P&A LLC, 5.00%, 5/18/2037(j)                               |  | None          |  | Media: Diversified & Production |  | —                          |  |         | —  |              |  | 2,182    |  |
| EnTrans International, LLC, L+600, 0.00% LIBOR Floor, 11/1/2024(m)                   |  | 1 Month LIBOR |  | Capital Equipment                       |  | 24,750                           |  |         | 24,617   |              |  | 23,430   |  |
| Extreme Reach, Inc., L+700, 1.25% LIBOR Floor, 3/29/2024(m)(n)                       |  | 1 Month LIBOR |  | Media: Diversified & Production |  | 18,774                           |  |         | 18,662   |              |  | 18,844   |  |
| Extreme Reach, Inc., 0.50% Unfunded, 3/29/2024(m)(n)                                 |  | None          |  | Media: Diversified & Production |  | 1,744                            |  |         | —  |              |  | 7        |  |
| Foundation Consumer Healthcare, LLC, L+638, 1.00% LIBOR Floor, 2/12/2027(m)(n)       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 30,799                           |  |         | 30,535   |              |  | 31,145   |  |
| Foundation Consumer Healthcare, LLC, 0.50% Unfunded, 11/2/2023                       |  | None          |  | Healthcare & Pharmaceuticals        |  | 2,094                            |  |         | —  |              |  | 24       |  |
| FuseFX, LLC, L+575, 1.00% LIBOR Floor, 10/1/2024(m)(n)                               |  | 1 Month LIBOR |  | Media: Diversified & Production |  | 20,000                           |  |         | 19,800   |              |  | 19,800   |  |
| Future Pak, LLC, L+800, 2.00% LIBOR Floor, 7/2/2024(m)                               |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 33,764                           |  |         | 33,565   |              |  | 33,426   |  |
| Genesis Healthcare, Inc., 0.50% Unfunded, 3/6/2023(h)                                |  | None          |  | Healthcare & Pharmaceuticals        |  | 35,000                           |  |         | —  |              |  | —  |  |
| GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r)                        |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 2,404                            |  |         | 2,294    |              |  | 2,001    |  |
| GSC Technologies Inc., L+500, 1.00% LIBOR Floor, 9/30/2025(r)(t)                     |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 858                              |  |         | 814      |              |  | 485      |  |
| GSC Technologies Inc., L+1000, 1.00% LIBOR Floor, 9/30/2025(r)(t)                    |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber        |  | 170                              |  |         | 170      |              |  | 170      |  |
| H.W. Lochner, Inc., L+625, 1.00% LIBOR Floor, 7/2/2027                               |  | 3 Month LIBOR |  | Construction & Building             |  | 11,970                           |  |         | 11,856   |              |  | 11,910   |  |
| H.W. Lochner, Inc., L+625, 1.00% LIBOR Floor, 7/2/2027                               |  | 3 Month LIBOR |  | Construction & Building             |  | 725                              |  |         | 715      |              |  | 721      |  |
| H.W. Lochner, Inc., 0.50% Unfunded, 7/2/2027                                         |  | None          |  | Construction & Building             |  | 275                              |  |         | —  |              |  | (1)           |  |
| Harland Clarke Holdings Corp., L+775, 1.00% LIBOR Floor, 6/16/2026(m)                |  | 1 Month LIBOR |  | Services: Business                  |  | 9,657                            |  |         | 9,641    |              |  | 8,848    |  |

----

|                                                                                                      |  |               |  |                                                   |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                                 |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| Heritage Power, LLC, L+600, 1.00% LIBOR Floor, 7/30/2026                                     |  | 6 Month LIBOR |  | Energy: Oil & Gas                         |  | 4,854                            |  |         | 4,692    |              |  | 3,956    |  |
| Hilliard, Martinez & Gonzales, LLP, L+1800, 2.00% LIBOR Floor, 12/17/2022(m)(t)          |  | 1 Month LIBOR |  | Services: Consumer                            |  | 22,885                           |  |         | 22,752   |              |  | 21,947   |  |
| Homer City Generation, L.P., 15.00%, 4/5/2023(m)(t)                                          |  | None          |  | Energy: Oil & Gas                         |  | 10,173                           |  |         | 10,521   |              |  | 7,935    |  |
| Hoover Group, Inc., L+850, 1.25% LIBOR Floor, 10/1/2024(n)                                   |  | 3 Month LIBOR |  | Services: Business                            |  | 5,156                            |  |         | 5,139    |              |  | 5,079    |  |
| HUMC Holdco, LLC, 9.00%, 1/14/2022(m)                                                        |  | None          |  | Healthcare & Pharmaceuticals                  |  | 9,346                            |  |         | 9,346    |              |  | 9,323    |  |
| HW Acquisition, LLC, L+600, 1.00% LIBOR Floor, 9/28/2026m)                                   |  | 3 Month LIBOR |  | Capital Equipment                                 |  | 19,067                           |  |         | 18,885   |              |  | 18,828   |  |
| HW Acquisition, LLC, 0.50% Unfunded, 9/28/2026                                               |  | None          |  | Capital Equipment                                 |  | 2,933                            |  |         | (28)          |              |  | (37)          |  |
| Independent Pet Partners Intermediate Holdings, LLC, 6.00%, 11/20/2023(m)(t)                 |  | None          |  | Retail                                            |  | 10,295                           |  |         | 10,235   |              |  | 9,085    |  |
| Independent Pet Partners Intermediate Holdings, LLC, Prime+500, 12/22/2022(m)                |  | Prime         |  | Retail                                            |  | 2,085                            |  |         | 2,085    |              |  | 2,085    |  |
| Independent Pet Partners Intermediate Holdings, LLC, L+600, 0.00% LIBOR Floor, 12/22/2022(m) |  | 3 Month LIBOR |  | Retail                                            |  | 264                              |  |         | 264      |              |  | 264      |  |
| InfoGroup Inc., L+500, 1.00% LIBOR Floor, 4/3/2023(m)(n)                                     |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 15,432                           |  |         | 15,428   |              |  | 14,815   |  |
| Inotiv, Inc., L+625, 1.00% LIBOR Floor, 11/5/2026(m)                                         |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 9,900                            |  |         | 9,709    |              |  | 9,764    |  |
| Inotiv, Inc., 1.00% Unfunded, 5/5/2023                                                       |  | None          |  | Healthcare & Pharmaceuticals                  |  | 2,100                            |  |         | (41)          |              |  | (29)          |  |
| Instant Web, LLC, L+650, 1.00% LIBOR Floor, 12/15/2022(m)(n)                                 |  | 1 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 36,605                           |  |         | 36,580   |              |  | 34,042   |  |
| Instant Web, LLC, 0.50% Unfunded, 12/15/2022                                                 |  | None          |  | Media: Advertising, Printing & Publishing |  | 2,704                            |  |         | —  |              |  | —  |  |
| Invincible Boat Company LLC, L+650, 1.50% LIBOR Floor, 8/28/2025                             |  | 3 Month LIBOR |  | Consumer Goods: Durable                       |  | 14,034                           |  |         | 13,937   |              |  | 14,034   |  |
| Invincible Boat Company LLC, 0.50% Unfunded, 8/28/2025                                       |  | None          |  | Consumer Goods: Durable                       |  | 798                              |  |         | —  |              |  | (8)           |  |
| INW Manufacturing, LLC, L+575, 0.75% LIBOR Floor, 5/7/2027(n)                                |  | 3 Month LIBOR |  | Services: Business                            |  | 19,625                           |  |         | 19,087   |              |  | 19,232   |  |
| Isagenix International, LLC, L+575, 1.00% LIBOR Floor, 6/14/2025(m)                          |  | 3 Month LIBOR |  | Beverage, Food & Tobacco                      |  | 16,663                           |  |         | 15,160   |              |  | 15,122   |  |
| Island Medical Management Holdings, LLC, L+650, 1.00% LIBOR Floor, 9/1/2023(m)(n)            |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 11,049                           |  |         | 11,028   |              |  | 11,049   |  |
| Jenny C Acquisition, Inc., L+900, 1.75% LIBOR Floor, 10/1/2024(m)(t)                         |  | 3 Month LIBOR |  | Services: Consumer                            |  | 11,123                           |  |         | 11,069   |              |  | 10,157   |  |
| JP Intermediate B, LLC, L+550, 1.00% LIBOR Floor, 11/20/2025(m)                              |  | 3 Month LIBOR |  | Beverage, Food & Tobacco                      |  | 14,355                           |  |         | 14,160   |              |  | 13,458   |  |
| K&N Parent, Inc., L+475, 1.00% LIBOR Floor, 10/20/2023                                   |  | 3 Month LIBOR |  | Consumer Goods: Durable                       |  | 11,154                           |  |         | 10,779   |              |  | 10,373   |  |
| KNB Holdings Corp., L+550, 1.00% LIBOR Floor, 4/26/2024(m)                                   |  | 6 Month LIBOR |  | Consumer Goods: Durable                       |  | 7,854                            |  |         | 7,774    |              |  | 5,517    |  |
| LaserAway Intermediate Holdings II, LLC, L+575, 1.00% LIBOR Floor, 10/12/2027(m)             |  | 3 Month LIBOR |  | Services: Consumer                            |  | 10,000                           |  |         | 9,805    |              |  | 9,963    |  |
| LAV Gear Holdings, Inc., L+750, 1.00% LIBOR Floor, 10/31/2024(m)(n)(t)                       |  | 3 Month LIBOR |  | Services: Business                            |  | 26,408                           |  |         | 26,103   |              |  | 24,988   |  |
| LAV Gear Holdings, Inc., L+750, 1.00% LIBOR Floor, 10/31/2024(m)(n)(t)                       |  | 3 Month LIBOR |  | Services: Business                            |  | 4,555                            |  |         | 4,518    |              |  | 4,310    |  |
| LGC US Finco, LLC, L+650, 1.00% LIBOR Floor, 12/20/2025(m)                                   |  | 1 Month LIBOR |  | Capital Equipment                                 |  | 11,760                           |  |         | 11,431   |              |  | 11,422   |  |
| LH Intermediate Corp., L+750, 1.00% LIBOR Floor, 6/2/2026(m)                                 |  | 3 Month LIBOR |  | Consumer Goods: Durable                       |  | 14,438                           |  |         | 14,230   |              |  | 14,257   |  |
| Lift Brands, Inc., L+750, 1.00% LIBOR Floor, 6/29/2025(m)(n)(r)                              |  | 1 Month LIBOR |  | Services: Consumer                            |  | 23,523                           |  |         | 23,523   |              |  | 23,406   |  |
| Lift Brands, Inc., 9.50%, 6/29/2025(m)(n)(r)(t)                                              |  | None          |  | Services: Consumer                            |  | 5,343                            |  |         | 5,255    |              |  | 5,156    |  |
| Lift Brands, Inc., 6/29/2025(m)(n)(p)(r)                                                     |  | None          |  | Services: Consumer                            |  | 5,296                            |  |         | 4,814    |              |  | 4,700    |  |
| Longview Power, LLC, L+1000, 1.50% LIBOR Floor, 7/30/2025(r)                                 |  | 3 Month LIBOR |  | Energy: Oil & Gas                         |  | 4,189                            |  |         | 2,624    |              |  | 4,504    |  |
| MacNeill Pride Group Corp., L+625, 1.00% LIBOR Floor, 4/20/2026(m)                           |  | 3 Month LIBOR |  | Services: Consumer                            |  | 14,925                           |  |         | 14,790   |              |  | 14,776   |  |
| MacNeill Pride Group Corp., L+625, 1.00% LIBOR Floor, 4/20/2026                              |  | 3 Month LIBOR |  | Services: Consumer                            |  | 4,992                            |  |         | 4,947    |              |  | 4,942    |  |
| Manus Bio Inc., 11.00%, 8/20/2026                                                            |  | None          |  | Healthcare & Pharmaceuticals                  |  | 10,000                           |  |         | 10,000   |              |  | 10,000   |  |

----

|                                                                                     |  |               |  |                                                   |  |                                       |  |         |               |              |  |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--|---------|---------------|--------------|--|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d) |               | FairValue(c) |
| Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028     |  | 1 Month LIBOR |  | Diversified Financials                            |  | 6,418                            |  |         | 6,294    |              |  | 6,370    |  |
| Marble Point Credit Management LLC, L+600, 1.00% LIBOR Floor, 8/11/2028     |  | 1 Month LIBOR |  | Diversified Financials                            |  | 250                              |  |         | 241      |              |  | 248      |  |
| Marble Point Credit Management LLC, 0.50% Unfunded, 8/11/2028               |  | None          |  | Diversified Financials                            |  | 1,250                            |  |         | —  |              |  | (9)           |  |
| Mimeo.com, Inc., L+640, 1.00% LIBOR Floor, 12/21/2023                       |  | 3 Month LIBOR |  | Services: Business                            |  | 23,018                           |  |         | 23,018   |              |  | 23,018   |  |
| Mimeo.com, Inc., L+640, 1.00% LIBOR Floor, 12/21/2023                       |  | 3 Month LIBOR |  | Services: Business                            |  | 256                              |  |         | 256      |              |  | 256      |  |
| Mimeo.com, Inc., 1.00% Unfunded, 12/21/2023                                 |  | None          |  | Services: Business                            |  | 5,000                            |  |         | —  |              |  | —  |  |
| Molded Devices, Inc., Prime + 500, 11/1/2026(m)                             |  | Prime         |  | Services: Business                            |  | 15,574                           |  |         | 15,407   |              |  | 15,418   |  |
| Molded Devices, Inc., 1.00% Unfunded, 11/1/2026                             |  | None          |  | Services: Business                            |  | 1,771                            |  |         | (17)          |              |  | (18)          |  |
| Molded Devices, Inc., 0.50% Unfunded, 11/1/2026                             |  | None          |  | Services: Business                            |  | 2,656                            |  |         | —  |              |  | (27)          |  |
| Moss Holding Company, L+700, 1.00% LIBOR Floor, 4/17/2024(m)(n)(t)          |  | 3 Month LIBOR |  | Services: Business                            |  | 19,641                           |  |         | 19,506   |              |  | 17,922   |  |
| Moss Holding Company, 0.50% Unfunded, 4/17/2024                             |  | None          |  | Services: Business                            |  | 2,126                            |  |         | —  |              |  | —  |  |
| Moss Holding Company, 7.00% Unfunded, 4/17/2024                             |  | None          |  | Services: Business                            |  | 106                              |  |         | —  |              |  | —  |  |
| Napa Management Services Corp., L+500, 1.00% LIBOR Floor, 4/19/2023         |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 5,318                            |  |         | 5,267    |              |  | 5,324    |  |
| NASCO Healthcare Inc., L+550, 1.00% LIBOR Floor, 6/30/2023(m)               |  | 6 Month LIBOR |  | Services: Business                            |  | 17,458                           |  |         | 17,458   |              |  | 17,218   |  |
| Neptune Flood Inc., L+600, 1.00% LIBOR Floor, 10/21/2026(m)                 |  | 3 Month LIBOR |  | Banking, Finance, Insurance & Real Estate     |  | 9,667                            |  |         | 9,596    |              |  | 9,618    |  |
| NewsCycle Solutions, Inc., L+700, 1.00% LIBOR Floor, 12/29/2022(m)(n)       |  | 3 Month LIBOR |  | Media: Advertising, Printing & Publishing |  | 12,064                           |  |         | 12,020   |              |  | 12,049   |  |
| NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026                 |  | 3 Month LIBOR |  | High Tech Industries                              |  | 13,100                           |  |         | 12,980   |              |  | 13,100   |  |
| NWN Parent Holdings LLC, L+650, 1.00% LIBOR Floor, 5/7/2026                 |  | 3 Month LIBOR |  | High Tech Industries                              |  | 420                              |  |         | 420      |              |  | 421      |  |
| NWN Parent Holdings LLC, 0.50% Unfunded, 5/7/2026                           |  | None          |  | High Tech Industries                              |  | 1,380                            |  |         | (18)          |              |  | 3        |  |
| Optio Rx, LLC, L+700, 0.00% LIBOR Floor, 6/28/2024(m)(n)                    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 23,344                           |  |         | 23,255   |              |  | 22,994   |  |
| Optio Rx, LLC, L+1000, 0.00% LIBOR Floor, 6/28/2024(n)                      |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 2,515                            |  |         | 2,498    |              |  | 2,647    |  |
| Pentec Acquisition Corp., L+600, 1.00% LIBOR Floor, 10/8/2026               |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals                  |  | 25,000                           |  |         | 24,756   |              |  | 24,750   |  |
| PetroChoice Holdings, Inc., L+500, 1.00% LIBOR Floor, 8/20/2022             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber                  |  | 3,896                            |  |         | 3,836    |              |  | 3,725    |  |
| PH Beauty Holdings III. Inc., L+500, 0.00% LIBOR Floor, 9/28/2025(m)        |  | 3 Month LIBOR |  | Consumer Goods: Non-Durable                   |  | 9,675                            |  |         | 9,172    |              |  | 9,143    |  |
| Playboy Enterprises, Inc., L+575, 0.50% LIBOR Floor, 5/25/2027(h)(n)        |  | 3 Month LIBOR |  | Consumer Goods: Non-Durable                   |  | 28,606                           |  |         | 28,043   |              |  | 28,320   |  |
| Polymer Additives, Inc., L+600, 0.00% LIBOR Floor, 7/31/2025(m)             |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber                  |  | 19,400                           |  |         | 19,173   |              |  | 18,963   |  |
| RA Outdoors, LLC, L+675, 1.00% LIBOR Floor, 4/8/2026(m)                     |  | 3 Month LIBOR |  | Media: Diversified & Production           |  | 15,911                           |  |         | 15,911   |              |  | 15,772   |  |
| RA Outdoors, LLC, 0.50% Unfunded, 4/8/2026                                  |  | None          |  | Media: Diversified & Production           |  | 1,049                            |  |         | (170)         |              |  | (9)           |  |
| Retail Services WIS Corp., L+775, 1.00% LIBOR Floor, 5/20/2025(m)           |  | 3 Month LIBOR |  | Services: Business                            |  | 9,924                            |  |         | 9,699    |              |  | 9,788    |  |
| Robert C. Hilliard, L.L.P., L+1800, 2.00% LIBOR Floor, 12/17/2022(m)(t)     |  | 1 Month LIBOR |  | Services: Consumer                            |  | 1,905                            |  |         | 1,905    |              |  | 1,827    |  |
| Rogers Mechanical Contractors, LLC, L+650, 1.00% LIBOR Floor, 9/9/2025(m)   |  | 1 Month LIBOR |  | Services: Business                            |  | 17,250                           |  |         | 17,250   |              |  | 17,250   |  |
| Rogers Mechanical Contractors, LLC, 0.75% Unfunded, 9/9/2025                |  | None          |  | Services: Business                            |  | 2,885                            |  |         | —  |              |  | —  |  |
| Rogers Mechanical Contractors, LLC, 1.00% Unfunded, 9/9/2022                |  | None          |  | Services: Business                            |  | 1,923                            |  |         | —  |              |  | —  |  |
| RumbleOn, Inc., L+825, 1.00% LIBOR Floor, 8/31/2026(m)(t)                   |  | 3 Month LIBOR |  | Automotive                                        |  | 13,965                           |  |         | 12,962   |              |  | 13,389   |  |
| RumbleOn, Inc., 0.00% Unfunded, 2/28/2023(o)                                |  | None          |  | Automotive                                        |  | 6,000                            |  |         | (56)          |              |  | —  |  |
| Securus Technologies Holdings, Inc., L+450, 1.00% LIBOR Floor, 11/1/2024(m) |  | 3 Month LIBOR |  | Telecommunications                                |  | 3,908                            |  |         | 3,201    |              |  | 3,908    |  |
| Sequoia Healthcare Management, LLC, 12.75%, 8/21/2023(m)(n)(q)              |  | None          |  | Healthcare & Pharmaceuticals                  |  | 8,525                            |  |         | 8,457    |              |  | 6,394    |  |
|                                                                                     |  |               |  |                                                   |  |                                       |  |         |               |              |

----

|                                                                                              |  |               |  |                                               |  |                                       |  |                 |               |              |                 |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------------------------------------------------|--|---------------|--|-----------------------------------------------|--|---------------------------------------|--|-----------------|---------------|--------------|-----------------|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                         |  | Index Rate(b) |  | Industry                                      |  | Principal/Par Amount/Units(e) |  | Cost(d)         |               | FairValue(c) |
| SIMR, LLC, L+1700, 2.00% LIBOR Floor, 9/7/2023(r)(t)                                 |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 19,938                           |  |                 | 19,813   |              |                 | 16,000   |  |
| Sleep Opco, LLC, L+650, 1.00% LIBOR Floor, 10/12/2026(m)                             |  | 3 Month LIBOR |  | Retail                                        |  | 13,250                           |  |                 | 12,991   |              |                 | 12,985   |  |
| Sleep Opco, LLC, 0.50% Unfunded, 10/12/2026(m)                                       |  | None          |  | Retail                                        |  | 1,750                            |  |                 | (34)          |              |                 | (35)          |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)                   |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 12,526                           |  |                 | 12,491   |              |                 | 11,743   |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)                |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 1,054                            |  |                 | 1,054    |              |                 | 991      |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)                |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 689                              |  |                 | 600      |              |                 | 644      |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)                |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 649                              |  |                 | 647      |              |                 | 609      |  |
| Spinal USA, Inc. / Precision Medical Inc., L+950, 10/1/2022(m)(t)                |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 546                              |  |                 | 475      |              |                 | 560      |  |
| Tenere Inc., L+850, 1.00% LIBOR Floor, 7/1/2025(m)(n)                                |  | 3 Month LIBOR |  | Capital Equipment                             |  | 18,080                           |  |                 | 18,080   |              |                 | 18,080   |  |
| Tensar Corp., L+675, 1.00% LIBOR Floor, 11/20/2025(m)                                |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 4,950                            |  |                 | 4,850    |              |                 | 4,982    |  |
| Trademark Global, LLC, L+600, 1.00% LIBOR Floor, 7/30/2024                           |  | 1 Month LIBOR |  | Services: Business                        |  | 15,346                           |  |                 | 15,278   |              |                 | 15,250   |  |
| Trademark Global, LLC, 1.00% Unfunded, 7/30/2023                                     |  | None          |  | Services: Business                        |  | 4,615                            |  |                 | (21)          |              |                 | (29)          |  |
| Trammell, P.C., L+1800, 2.00% LIBOR Floor, 6/25/2022(i)(t)                           |  | 1 Month LIBOR |  | Services: Consumer                        |  | 18,091                           |  |                 | 18,091   |              |                 | 18,091   |  |
| USALCO, LLC, L+600, 1.00% LIBOR Floor, 10/19/2027(m)                                 |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 25,000                           |  |                 | 24,753   |              |                 | 24,875   |  |
| Vesta Holdings, LLC, L+1000, 1.00% LIBOR Floor, 2/25/2024(m)(t)                      |  | 1 Month LIBOR |  | Banking, Finance, Insurance & Real Estate |  | 24,933                           |  |                 | 24,933   |              |                 | 24,933   |  |
| Volta Charging, LLC, 12.00%, 6/19/2024(m)                                            |  | None          |  | Media: Diversified & Production       |  | 12,000                           |  |                 | 11,984   |              |                 | 13,095   |  |
| Volta Charging, LLC, 12.00%, 6/19/2024(m)                                            |  | None          |  | Media: Diversified & Production       |  | 10,500                           |  |                 | 10,500   |              |                 | 11,458   |  |
| West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m)(n) |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 9,441                            |  |                 | 9,396    |              |                 | 9,417    |  |
| West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 3,562                            |  |                 | 3,553    |              |                 | 3,553    |  |
| West Dermatology Management Holdings, LLC, L+750, 1.00% LIBOR Floor, 2/11/2025       |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 1,179                            |  |                 | 1,179    |              |                 | 1,191    |  |
| West Dermatology Management Holdings, LLC, L+600, 1.00% LIBOR Floor, 2/11/2025(m)    |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals              |  | 1,105                            |  |                 | 1,094    |              |                 | 1,102    |  |
|                                                                                              |  |               |  |                                               |  |                                       |  |                 |               |              |
| West Dermatology Management Holdings, LLC, 0.50% Unfunded, 2/11/2025(m)              |  | None          |  | Healthcare & Pharmaceuticals              |  | 552                              |  |                 | —  |              |                 | (1)           |  |
| West Dermatology Management Holdings, LLC, 0.75% Unfunded, 2/11/2022                 |  | None          |  | Healthcare & Pharmaceuticals              |  | 5,755                            |  |                 | (13)          |              |                 | (8)           |  |
| Williams Industrial Services Group, Inc, L+900, 1.00% LIBOR Floor, 12/16/2025(n)     |  | 1 Month LIBOR |  | Services: Business                        |  | 9,775                            |  |                 | 9,775    |              |                 | 9,861    |  |
| Williams Industrial Services Group, Inc, 0.50% Unfunded, 12/16/2025                  |  | None          |  | Services: Business                        |  | 5,000                            |  |                 | —  |              |                 | 44       |  |
| Wind River Systems, Inc., L+675, 1.00% LIBOR Floor, 6/24/2024(n)                     |  | 3 Month LIBOR |  | High Tech Industries                          |  | 23,684                           |  |                 | 23,507   |              |                 | 23,684   |  |
| Wok Holdings Inc., L+625, 0.00% LIBOR Floor, 3/1/2026(m)                             |  | 1 Month LIBOR |  | Beverage, Food & Tobacco                  |  | 20,340                           |  |                 | 19,882   |              |                 | 20,238   |  |
| Xenon Arc, Inc., L+600, 0.75% LIBOR Floor, 12/17/2027(m)                             |  | 3 Month LIBOR |  | High Tech Industries                          |  | 10,000                           |  |                 | 9,875    |              |                 | 9,875    |  |
| Total Senior Secured First Lien Debt                                                         |  |          |  |                                          |  |                                  |  | 1,564,891  |               |              | 1,526,989  |               |
| Senior Secured Second Lien Debt - 4.1%                                                       |  |               |  |                                               |  |                                       |  |                 |               |              |
| Deluxe Entertainment Services, Inc., L+850, 1.00% LIBOR Floor, 9/25/2024(m)(q)(r)(t) |  | 3 Month LIBOR |  | Media: Diversified & Production       |  | 10,534                           |  |                 | 10,017   |              |                 | —  |  |
| Global Tel*Link Corp., L+825, 0.00% LIBOR Floor, 11/29/2026(n)                       |  | 1 Month LIBOR |  | Telecommunications                            |  | 11,500                           |  |                 | 11,356   |              |                 | 11,471   |  |
| PetroChoice Holdings, Inc., L+875, 1.00% LIBOR Floor, 8/21/2023                      |  | 3 Month LIBOR |  | Chemicals, Plastics & Rubber              |  | 15,000                           |  |                 | 14,524   |              |                 | 14,175   |  |
| Premiere Global Services, Inc., L+950, 1.00% LIBOR Floor, 6/6/2024(q)(t)             |  | 3 Month LIBOR |  | Telecommunications                            |  | 3,775                            |  |                 | 3,435    |              |                 | —  |  |
| Securus Technologies Holdings, Inc., L+825, 1.00% LIBOR Floor, 11/1/2025             |  | 3 Month LIBOR |  | Telecommunications                            |  | 2,942                            |  |                 | 2,924    |              |                 | 2,943    |  |
|                                                                                              |  |               |  |                                               |  |                                       |  |                 |               |              |

----

|                                                                                            |  |               |  |                                                   |  |                                       |  |               |              |              |               |              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------|--|---------------|--|---------------------------------------------------|--|---------------------------------------|--|---------------|--------------|--------------|---------------|--------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                                       |  | Index Rate(b) |  | Industry                                          |  | Principal/Par Amount/Units(e) |  | Cost(d)       |              | FairValue(c) |               |              |
| TMK Hawk Parent, Corp., L+800, 1.00% LIBOR Floor, 8/28/2025                        |  | 1 Month LIBOR |  | Services: Business                            |  | 13,393                           |  |               | 13,199  |              |               | 9,994   |  |  |  |
| Total Senior Secured Second Lien Debt                                                      |  |          |  |                                              |  |                                  |  | 55,455   |              |              | 38,583   |              |  |  |
| Collateralized Securities and Structured Products - Equity - 0.3%                          |  |               |  |                                                   |  |                                  |  |          |              |         |               |              |
| APIDOS CLO XVI Subordinated Notes, 0.00% Estimated Yield, 1/19/2025(h)             |  | (g)           |  | Diversified Financials                            |  | 9,000                            |  |               | 2,136   |              |               | 984     |  |  |  |
| Galaxy XV CLO Ltd. Class A Subordinated Notes, 5.76% Estimated Yield, 4/15/2025(h) |  | (g)           |  | Diversified Financials                            |  | 4,000                            |  |               | 1,749   |              |               | 2,014   |  |  |  |
| Total Collateralized Securities and Structured Products - Equity                           |  |               |  |                                              |  |                                  |  | 3,885    |              |              | 2,998    |              |  |  |
| Unsecured Debt - 2.9%                                                                      |  |               |  |                                                   |  |                                       |  |               |              |              |               |              |
| Lucky Bucks Holdings LLC, 12.50%, 5/29/2028(t)                                     |  | None          |  | Hotel, Gaming & Leisure                       |  | 20,219                           |  |               | 20,219  |              |               | 20,219  |  |  |  |
| WPLM Acquisition Corp., 15.00%, 11/24/2025(t)                                      |  | None          |  | Media: Advertising, Printing & Publishing |  | 6,628                            |  |               | 6,558   |              |               | 6,397   |  |  |  |
| Total Unsecured Debt                                                                       |  |               |  |                                              |  |                                  |  | 26,777   |              |              | 26,616   |              |  |  |
| Equity - 7.6%                                                                              |  |               |  |                                                   |  |                                       |  |               |              |              |               |              |
| ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r)                    |  |               |  | Metals & Mining                               |  |  NA                              |  | —  |              |              | —  |              |  |  |
| Ascent Resources - Marcellus, LLC, Membership Units(o)                                     |  |               |  | Energy: Oil & Gas                         |  | 511,255 Units                         |  | 1,642    |              |              | 639      |              |  |  |
| Ascent Resources - Marcellus, LLC, Warrants(o)                                             |  |               |  | Energy: Oil & Gas                         |  | 132,367 Units                         |  | 13       |              |              | 3        |              |  |  |
| CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s)                  |  |               |  | Diversified Financials                            |  | 22,072,841 Units                      |  | 22,073   |              |              | 29,796   |              |  |  |
| CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s)                |  |               |  | Diversified Financials                            |  | NA                                    |  | —  |              |              | —  |              |  |  |
| DBI Investors, Inc., Series A1 Preferred Stock(o)                                          |  |               |  | Retail                                            |  | 20,000 Units                          |  | 802      |              |              | 2,251    |              |  |  |
| DBI Investors, Inc., Series A2 Preferred Stock(o)                                          |  |               |  | Retail                                            |  | 1,733 Units                           |  | —  |              |              | 182      |              |  |  |
| DBI Investors, Inc., Series A Preferred Stock(o)                                           |  |               |  | Retail                                            |  | 1,396 Units                           |  | 140      |              |              | 164      |              |  |  |
| DBI Investors, Inc., Series B Preferred Stock(o)                                           |  |               |  | Retail                                            |  | 4,183 Units                           |  | 410      |              |              | 162      |              |  |  |
| DBI Investors, Inc., Common Stock(o)                                                       |  |               |  | Retail                                            |  | 39,423 Units                          |  | —  |              |              | —  |              |  |  |
| DBI Investors, Inc., Reallocation Rights(o)                                                |  |               |  | Retail                                            |  | 7,500 Units                           |  | —  |              |              | —  |              |  |  |
| GSC Technologies Inc., Common Shares(o)(r)                                                 |  |               |  | Chemicals, Plastics & Rubber                  |  | 807,268 Units                         |  | —  |              |              | —  |              |  |  |
| Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o)            |  |               |  | Retail                                            |  | 1,000,000 Units                       |  | 1,000    |              |              | 20       |              |  |  |
| Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(o)          |  |               |  | Retail                                            |  | 2,632,771 Units                       |  | 2,133    |              |              | 3,949    |              |  |  |
| Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(o)            |  |               |  | Retail                                            |  | 2,632,771 Units                       |  | 2,633    |              |              | 2,791    |              |  |  |
| Independent Pet Partners Intermediate Holdings, LLC, Warrants(o)                           |  |               |  | Retail                                            |  | 155,880 Units                         |  | —  |              |              | —  |              |  |  |
| Longview Intermediate Holdings C, LLC, Membership Units(o)(r)                              |  |               |  | Energy: Oil & Gas                         |  | 653,989 Units                         |  | 2,704    |              |              | 15,127   |              |  |  |
| Mooregate ITC Acquisition, LLC, Class A Units(o)                                           |  |               |  | High Tech Industries                              |  | 500 Units                             |  | 562      |              |              | 171      |              |  |  |
| Mount Logan Capital Inc., Common Stock(f)(h)(r)                                            |  |               |  | Banking, Finance, Insurance & Real Estate     |  | 1,075,557 Units                       |  | 3,534    |              |              | 3,404    |              |  |  |
| NS NWN Acquisition, LLC, Class A Preferred Units(o)                                        |  |               |  | High Tech Industries                              |  | 111 Units                             |  | 110      |              |              | 2,382    |              |  |  |
| NS NWN Acquisition, LLC, Non-voting Units(o)                                               |  |               |  | High Tech Industries                              |  | 346 Units                             |  | 393      |              |              | —  |              |  |  |
| NS NWN Holdco LLC, Voting Units (o)                                                        |  |               |  | High Tech Industries                              |  | 522 Units                             |  | 504      |              |              | 525      |              |  |  |
| NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o)                                    |  |               |  | Consumer Goods: Durable                       |  | 1,575 Units                           |  | 1,000    |              |              | 770      |              |  |  |
| Palmetto Clean Technology, Inc., Warrants(o)                                               |  |               |  | High Tech Industries                              |  | 724,112 Units                         |  | 472      |              |              | 3,222    |              |  |  |
| RumbleOn, Inc., Warrants(o)                                                                |  |               |  | Automotive                                        |  | 60,606 Units                          |  | 927      |              |              | 978      |              |  |  |
|                                                                                            |  |               |  |                                                   |  |                                       |  |               |              |              |               |              |

----

|                                                                     |  |  |  |                                  |  |                                       |  |               |                 |              |               |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--|--|--|----------------------------------|--|---------------------------------------|--|---------------|-----------------|--------------|---------------|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company(a)                                                |  |  |  | Industry                         |  | Principal/Par Amount/Units(e) |  | Cost(d)       |                 | FairValue(c) |               |                 |
| SIMR Parent, LLC, Class B Common Units(o)(r)                        |  |  |  | Healthcare & Pharmaceuticals |  | 12,283,163 Units                      |  | 8,002    |                 |              | —  |                 |  |  |
| SIMR Parent, LLC, Class W Units(o)(r)                               |  |  |  | Healthcare & Pharmaceuticals |  | 1,778,219 Units                       |  | —  |                 |              | —  |                 |  |  |
| Snap Fitness Holdings, Inc., Class A Common Stock(o)(r)             |  |  |  | Services: Consumer           |  | 9,858 Units                           |  | 3,078    |                 |              | 3,131    |                 |  |  |
| Snap Fitness Holdings, Inc., Warrants(o)(r)                         |  |  |  | Services: Consumer           |  | 3,996 Units                           |  | 1,247    |                 |              | 1,269    |                 |  |  |
| Total Equity                                                        |  |  |  |                                  |  |                                       |  | 53,379   |                 |              | 70,936   |                 |  |  |
| Short Term Investments - 9.5%(k)                                    |  |  |  |                                  |  |                                       |  |               |                 |              |               |                 |
| First American Treasury Obligations Fund, Class Z Shares, 0.01% (l) |  |  |  |                                  |  |                                       |  | 87,917   |                 |              | 87,917   |                 |  |  |
| Total Short Term Investments                                        |  |  |  |                                  |  |                                       |  | 87,917   |                 |              | 87,917   |                 |  |  |
| TOTAL INVESTMENTS - 188.5%                                          |  |  |  |                                  |  |                                       |  | $             | 1,792,304  |              |               | 1,754,039  |  |  |  |
| LIABILITIES IN EXCESS OF OTHER ASSETS - (88.5%)                     |  |  |  |                                  |  |                                       |  |          |                 | (823,527)    |               |                 |  |
| NET ASSETS - 100%                                                   |  |  |  |                                  |  |                                       |  |          |                 | $            | 930,512  |                 |  |  |

----

|                                                                                     |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |               |   |               |               |  |   |               |  |  |   |             |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------|--|-------------------------------|---------------|---------------------------------------------|---------------|--------------------------|--------------|---------------------------------------------|--|-------------------------------|---------------|-------------------------|--|-------------------|---------------|----------------|---------------|---|---------------|---------------|--|---|---------------|--|--|---|-------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                     |  |                               |               | Year Ended December 31, 2021 |               |                          |              | Year Ended December 31, 2021 |
| Non-Controlled, Affiliated Investments                                    |  | Fair Valueat December31, 2020 |               | GrossAdditions(Cost)(1)                     |               | GrossReductions(Cost)(2) |              | NetUnrealizedGain (Loss)                    |  | Fair Valueat December31, 2021 |               | Net RealizedGain (Loss) |  | InterestIncome(3) |               | DividendIncome |
|     Alert 360 Opco, Inc.                                        |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         First Lien Term Loan                |  | $                             | —  |                                             |               | $                        | 12,240  |                                             |  | $                             | (12,240)      |                         |  | $                 | —  |                |               | $ | —  |               |  | $ | —  |  |  | $ | 796    |  |  | $ | —  |  |
|         Common Stock                        |  | —                  |               |                                             | 3,624    |                          |              | (3,624)                                     |  |                               | —  |                         |  | —      |               |                | (117)         |   |               | —  |  |   | —  |  |
|     American Clinical Solutions LLC                             |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Tranche I Term Loan                 |  | 3,124                    |               |                                             | 35       |                          |              | (3,421)                                     |  |                               | 262      |                         |  | —      |               |                | —  |   |               | 282      |  |   | —  |  |
|         First Amendment Tranche I Term Loan |  | 242                      |               |                                             | —  |                          |              | (250)                                       |  |                               | 8        |                         |  | —      |               |                | —  |   |               | 18       |  |   | —  |  |
|         Class A Membership Interests        |  | 663                      |               |                                             | —  |                          |              | (1,658)                                     |  |                               | 995      |                         |  | —      |               |                | 3,542    |   |               | —  |  |   | —  |  |
|     ARC Financial, LLC                                          |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Membership Interests                |  | —                  |               |                                             | —  |                          |              | —                                |  |                               | —  |                         |  | —      |               |                | —  |   |               | —  |  |   | —  |  |
|     BCP Great Lakes Fund LP                                     |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Membership Interests                |  | 12,611                   |               |                                             | 5,377    |                          |              | (18,241)                                    |  |                               | 253      |                         |  | —      |               |                | 33       |   |               | —  |  |   | 1,078    |  |
|     Charming Charlie, LLC                                       |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Vendor Payment Financing Facility   |  | 350                      |               |                                             | —  |                          |              | —                                |  |                               | —  |                         |  | 350          |               |                | —  |   |               | —  |  |   | —  |  |
|     Conisus Holdings, Inc.                                      |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Series B Preferred Stock            |  | 16,481                   |               |                                             | 951      |                          |              | (16,094)                                    |  |                               | (1,338)       |                         |  | —      |               |                | —  |   |               | —  |  |   | 4,428    |  |
|         Common Stock                        |  | 12,401                   |               |                                             | —  |                          |              | (200)                                       |  |                               | (12,201)      |                         |  | —      |               |                | 19,110   |   |               | —  |  |   | —  |  |
|     DESG Holdings, Inc.                                         |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         First Lien Term Loan                |  | 3,978                    |               |                                             | 48       |                          |              | (1,176)                                     |  |                               | (1,063)       |                         |  | 1,787        |               |                | 180      |   |               | (291)         |  |   | —  |  |
|         Second Lien Term Loan               |  | —                  |               |                                             | —  |                          |              | —                                |  |                               | —  |                         |  | —      |               |                | —  |   |               | —  |  |   | —  |  |
|         Common Stock                        |  | —                  |               |                                             | —  |                          |              | (13,675)                                    |  |                               | 13,675   |                         |  | —      |               |                | (13,675)      |   |               | —  |  |   | —  |  |
|     F+W Media, Inc.                                             |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         First Lien Term Loan B-1            |  | —                  |               |                                             | —  |                          |              | (1,115)                                     |  |                               | 1,115    |                         |  | —      |               |                | (1,080)       |   |               | —  |  |   | —  |  |
|     GSC Technologies Inc.                                       |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Incremental Term Loan               |  | —                  |               |                                             | 176      |                          |              | (6)                                         |  |                               | —  |                         |  | 170          |               |                | —  |   |               | 5        |  |   | —  |  |
|         First Lien Term Loan A              |  | 2,289                    |               |                                             | 18       |                          |              | (17)                                        |  |                               | (289)         |                         |  | 2,001        |               |                | 1        |   |               | 165      |  |   | —  |  |
|         First Lien Term Loan B              |  | 755                      |               |                                             | 58       |                          |              | —                                |  |                               | (328)         |                         |  | 485          |               |                | —  |   |               | 58       |  |   | —  |  |
|         Common Shares                       |  | —                  |               |                                             | —  |                          |              | —                                |  |                               | —  |                         |  | —      |               |                | —  |   |               | —  |  |   | —  |  |
|     Lift Brands, Inc.                                           |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Term Loan A                         |  | 23,642                   |               |                                             | —  |                          |              | (118)                                       |  |                               | (118)         |                         |  | 23,406       |               |                | —  |   |               | 2,036    |  |   | —  |  |
|         Term Loan B                         |  | 4,751                    |               |                                             | 502      |                          |              | —                                |  |                               | (97)          |                         |  | 5,156        |               |                | —  |   |               | 503      |  |   | —  |  |
|         Term Loan C                         |  | 4,687                    |               |                                             | 129      |                          |              | —                                |  |                               | (116)         |                         |  | 4,700        |               |                | —  |   |               | 129      |  |   | —  |  |
|     Longview Power, LLC                                         |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         First Lien Term Loan                |  | 2,414                    |               |                                             | 2,019    |                          |              | (26)                                        |  |                               | 97       |                         |  | 4,504        |               |                | 16       |   |               | 581      |  |   | —  |  |
|     Longview Intermediate Holdings C, LLC                       |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Membership Units                    |  | 7,988                    |               |                                             | 179      |                          |              | —                                |  |                               | 6,960    |                         |  | 15,127       |               |                | —  |   |               | —  |  |   | —  |  |
|     Mount Logan Capital Inc.                                    |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Common Stock                        |  | 2,409                    |               |                                             | —  |                          |              | —                                |  |                               | 995      |                         |  | 3,404        |               |                | —  |   |               | —  |  |   | 70       |  |
|     SIMR, LLC                                                   |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         First Lien Term Loan                |  | 13,347                   |               |                                             | 3,839    |                          |              | —                                |  |                               | (1,186)       |                         |  | 16,000       |               |                | —  |   |               | 3,839    |  |   | —  |  |
|     SIMR Parent, LLC                                            |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Class B Membership Units            |  | —                  |               |                                             | —  |                          |              | —                                |  |                               | —  |                         |  | —      |               |                | —  |   |               | —  |  |   | —  |  |
|         Class W Membership Units            |  | —                  |               |                                             | —  |                          |              | —                                |  |                               | —  |                         |  | —      |               |                | —  |   |               | —  |  |   | —  |  |
|     Snap Fitness Holdings, Inc.                                 |  |                               |               |                                             |               |                          |              |                                             |  |                               |               |                         |  |                   |               |                |
|         Class A Stock                       |  | 3,389                    |               |                                             | —  |                          |              | —                                |  |                               | (258)         |                         |  | 3,131        |               |                | —  |   |               | —  |  |   | —  |  |
|         Warrants                            |  | 1,374                    |               |                                             | —  |                          |              | —                                |  |                               | (105)         |                         |  | 1,269        |               |                | —  |   |               | —  |  |   | —  |  |
|     Totals                                                      |  | $                             | 116,895  |                                             |               | $                        | 29,195  |                                             |  | $                             | (71,861)      |                         |  | $                 | 7,261    |                |               | $ | 81,490   |               |  | $ | 8,010    |  |  | $ | 8,121  |  |  | $ | 5,576    |  |

----

|                                                                                |  |                                |              |                                             |               |                          |               |                                             |  |                                |               |                              |  |                   |              |                 |               |   |               |               |  |   |               |  |  |   |               |  |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------|--|--------------------------------|--------------|---------------------------------------------|---------------|--------------------------|---------------|---------------------------------------------|--|--------------------------------|---------------|------------------------------|--|-------------------|--------------|-----------------|---------------|---|---------------|---------------|--|---|---------------|--|--|---|---------------|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                |  |                                |              | Year Ended December 31, 2021 |               |                          |               | Year Ended December 31, 2021 |
| Controlled Investments                                                         |  | Fair Value atDecember 31, 2020 |              | GrossAdditions(Cost)(1)                     |               | GrossReductions(Cost)(2) |               | Net UnrealizedGain (Loss)              |  | Fair Value atDecember 31, 2021 |               | Net RealizedGain (Loss) |  | InterestIncome(3) |              | Dividend Income |
|     CION SOF Funding, LLC                                  |  |                                |              |                                             |               |                          |               |                                             |  |                                |               |                              |  |                   |              |                 |
|         Membership Interests           |  | $                              | 12,472  |                                             |               | $                        | —  |                                             |  | $                              | (15,539)      |                              |  | $                 | 3,067   |                 |               | $ | —  |               |  | $ | (3,067)       |  |  | $ | —  |  |  | $ | —  |  |
|     CION/EagleTree Partners, LLC                       |  |                                |              |                                             |               |                          |               |                                             |  |                                |               |                              |  |                   |              |                 |
|         Senior Secured Note            |  | —                   |              |                                             | 61,629   |                          |               | —                                |  |                                | —  |                              |  | 61,629       |              |                 | —  |   |               | 260      |  |   | —  |  |
|         Participating Preferred Shares |  | —                   |              |                                             | 22,073   |                          |               | —                                |  |                                | 7,723    |                              |  | 29,796       |              |                 | —  |   |               | —  |  |   | —  |  |
|         Common Shares                  |  | —                   |              |                                             | —  |                          |               | —                                |  |                                | —  |                              |  | —      |              |                 | —  |   |               | —  |  |   | —  |  |
|     Totals                                                 |  | $                              | 12,472  |                                             |               | $                        | 83,702   |                                             |  | $                              | (15,539)      |                              |  | $                 | 10,790  |                 |               | $ | 91,425   |               |  | $ | (3,067)       |  |  | $ | 260      |  |  | $ | —  |  |

----

|                                                     |  |                                 |  |               |  |        |  |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------|--|---------------------------------|--|---------------|--|--------|--|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                |  |                            |  | Interest Rate |
| Portfolio Company                                   |  | Investment Type                 |  | Cash          |  | PIK    |  | All-in-Rate |
| Adapt Laser Acquisition, Inc.                       |  | Senior Secured First Lien Debt  |  | 11.00%        |  | 2.00%  |  | 13.00%      |
| American Consolidated Natural Resources, Inc.       |  | Senior Secured First Lien Debt  |  | 14.00%        |  | 3.00%  |  | 17.00%      |
| Ancile Solutions, Inc.                              |  | Senior Secured First Lien Debt  |  | 8.00%         |  | 3.00%  |  | 11.00%      |
| Anthem Sports & Entertainment Inc.              |  | Senior Secured First Lien Debt  |  | 7.75%         |  | 2.25%  |  | 10.00%      |
| Cadence Aerospace, LLC                              |  | Senior Secured First Lien Debt  |  | 7.50%         |  | 2.00%  |  | 9.50%       |
| CHC Solutions Inc.                                  |  | Senior Secured First Lien Debt  |  | 8.00%         |  | 4.00%  |  | 12.00%      |
| CION/EagleTree Partners, LLC                    |  | Senior Secured Note             |  | —       |  | 14.00% |  | 14.00%      |
| CircusTrix Holdings, LLC                            |  | Senior Secured First Lien Debt  |  | 6.50%         |  | 2.50%  |  | 9.00%       |
| David's Bridal, LLC                                 |  | Senior Secured First Lien Debt  |  | 6.00%         |  | 5.00%  |  | 11.00%      |
| David's Bridal, LLC                                 |  | Senior Secured First Lien Debt  |  | 1.00%         |  | 6.00%  |  | 7.00%       |
| Deluxe Entertainment Services, Inc.                 |  | Senior Secured First Lien Debt  |  | 6.00%         |  | 1.50%  |  | 7.50%       |
| Deluxe Entertainment Services, Inc.                 |  | Senior Secured Second Lien Debt |  | 7.00%         |  | 2.50%  |  | 9.50%       |
| GSC Technologies Inc.                               |  | Senior Secured First Lien Debt  |  | —       |  | 6.00%  |  | 6.00%       |
| GSC Technologies Inc.                               |  | Senior Secured First Lien Debt  |  | 6.00%         |  | 5.00%  |  | 11.00%      |
| Hilliard, Martinez & Gonzales, LLP              |  | Senior Secured First Lien Debt  |  | —       |  | 20.00% |  | 20.00%      |
| Homer City Generation, L.P.                         |  | Senior Secured First Lien Debt  |  | —       |  | 15.00% |  | 15.00%      |
| Independent Pet Partners Intermediate Holdings, LLC |  | Senior Secured First Lien Debt  |  | —       |  | 6.00%  |  | 6.00%       |
|                                                     |  |                                 |  |               |  |        |  |             |
|                                                     |  |                                 |  |               |  |        |  |             |
| LAV Gear Holdings, Inc.                             |  | Senior Secured First Lien Debt  |  | 6.50%         |  | 2.00%  |  | 8.50%       |
| Lift Brands, Inc.                                   |  | Senior Secured First Lien Debt  |  | —       |  | 9.50%  |  | 9.50%       |
| Lucky Bucks Holdings LLC                            |  | Unsecured Note                  |  | —       |  | 12.50% |  | 12.50%      |
| Moss Holding Company                                |  | Senior Secured First Lien Debt  |  | 7.50%         |  | 0.50%  |  | 8.00%       |
|                                                     |  |                                 |  |               |  |        |  |             |
| Premiere Global Services, Inc.                      |  | Senior Secured Second Lien Debt |  | 0.50%         |  | 10.00% |  | 10.50%      |
| Robert C. Hilliard, L.L.P.                          |  | Senior Secured First Lien Debt  |  | —       |  | 20.00% |  | 20.00%      |
| RumbleOn, Inc.                                      |  | Senior Secured First Lien Debt  |  | 8.25%         |  | 1.00%  |  | 9.25%       |
| SIMR, LLC                                           |  | Senior Secured First Lien Debt  |  | 12.00%        |  | 7.00%  |  | 19.00%      |
| Spinal USA, Inc. / Precision Medical Inc.       |  | Senior Secured First Lien Debt  |  | —       |  | 9.63%  |  | 9.63%       |
| Trammell, P.C.                                      |  | Senior Secured First Lien Debt  |  | —       |  | 20.00% |  | 20.00%      |
| Vesta Holdings, LLC                                 |  | Senior Secured First Lien Debt  |  | 7.00%         |  | 4.00%  |  | 11.00%      |
| WPLM Acquisition Corp.                              |  | Unsecured Note                  |  | —       |  | 15.00% |  | 15.00%      |
|                                                     |  |                                 |  |               |  |        |  |             |

----

----

|                                                                              |  |                                   |            |  |  |  |  |  |  |  |
|------------------------------------------------------------------------------|--|-----------------------------------|------------|--|--|--|--|--|--|--|
|                                                                              |  | Three Months Ended March 31, 2021 |            |  |
| Weighted average number of shares of common stock outstanding (as reported)  |  | 113,509,925                  |            |  |  |
| Weighted average number of shares of common stock outstanding (pro-forma)    |  | 56,753,521                   |            |  |  |
| Net increase in net assets per share resulting from operations (as reported) |  | $                                 | 0.44  |  |  |  |
| Net increase in net assets per share resulting from operations (pro-forma)   |  | $                                 | 0.88  |  |  |  |

----

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----

----

|                                                                         |                             |  |                        |               |               |  |               |               |        |               |        |               |               |  |               |               |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------|-----------------------------|--|------------------------|---------------|---------------|--|---------------|---------------|--------|---------------|--------|---------------|---------------|--|---------------|---------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                         | Three Months EndedMarch 31, |  | Year EndedDecember 31, |
|                                                                         | 2022                        |  | 2021                   |               | 2021          |
|                                                                         | Shares                      |  | Amount                 |               | Shares        |  | Amount        |               | Shares |               | Amount |
| Gross shares/proceeds from the offering                             | —                |  |                        | $             | —  |  |               | —  |        |               | $      | —  |               |  | —  |               |  | $ | —  |  |
| Reinvestment of distributions                                           | —                |  |                        | —  |               |  | 340,765  |               |        | 5,292    |        |               | 970,223  |  |               | 15,489   |  |
| Total gross shares/proceeds                                         | —                |  |                        | —  |               |  | 340,765  |               |        | 5,292    |        |               | 970,223  |  |               | 15,489   |  |
| Sales commissions and dealer manager fees                               | —                |  |                        | —  |               |  | —  |               |        | —  |        |               | —  |  |               | —  |  |
|     Net shares/proceeds                         | —                |  |                        | —  |               |  | 340,765  |               |        | 5,292    |        |               | 970,223  |  |               | 15,489   |  |
| Share repurchase program                                                | —                |  |                        | —  |               |  | (337,731)     |               |        | (5,291)       |        |               | (658,650)     |  |               | (10,467)      |  |
|     Net shares/proceeds from share transactions | —                |  |                        | $             | —  |  |               | 3,034    |        |               | $      | 1        |               |  | 311,573  |               |  | $ | 5,022    |  |

----

|                                            |               |                 |  |                       |  |                                                     |         |                               |               |                                                |               |               |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------|---------------|-----------------|--|-----------------------|--|-----------------------------------------------------|---------|-------------------------------|---------------|------------------------------------------------|---------------|---------------|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Three Months Ended                         |               | Repurchase Date |  | Shares Repurchased(1) |  | Percentage of Shares Tendered That Were Repurchased |         | Repurchase Price Per Share(1) |               | Aggregate Consideration for Repurchased Shares |
| 2021                                       |               |                 |  |                       |  |                                                     |         |                               |               |                                                |
| March 31, 2021                             |               | March 24, 2021  |  | 337,731          |  |                                                     | 6%      |                               | $             | 15.67                                     |               |               | $ | 5,291  |  |
| June 30, 2021                              |               | June 23, 2021   |  | 320,127          |  |                                                     | 7%      |                               | 16.13    |                                                |               | 5,163    |   |
| September 30, 2021(2)                      |               | N/A         |  | 792              |  |                                                     | N/A |                               | 16.13    |                                                |               | 13       |   |
| December 31, 2021                          |               | N/A         |  | —          |  |                                                     | N/A |                               | N/A       |                                                | —  |               |
| Total for the year ended December 31, 2021 | 658,650  |                 |  |                       |  |                                                     |         | $                             | 10,467   |                                                |
|                                            |               |                 |  |                       |  |                                                     |         |                               |               |                                                |
| 2022                                       |               |                 |  |                       |  |                                                     |         |                               |               |                                                |
| March 31, 2022                             |               | N/A         |  | —          |  |                                                     | N/A |                               | N/A       |                                                | $             | —  |   |
| Total for the year ended December 31, 2022 | —  |                 |  |                       |  |                                                     |         | $                             | —  |                                                |
|                                            |               |                 |  |                       |  |                                                     |         |                               |               |                                                |
|                                            |               |                 |  |                       |  |                                                     |         |                               |               |                                                |
|                                            |               |                 |  |                       |  |                                                     |         |                               |               |                                                |
|                                            |               |                 |  |                       |  |                                                     |         |

----

|                                        |  |                                  |  |                                    |  |                             |              |                         |               |      |             |             |  |   |              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------|--|----------------------------------|--|------------------------------------|--|-----------------------------|--------------|-------------------------|---------------|------|-------------|-------------|--|---|--------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                        |  |                                  |  |                                    |  | Three Months EndedMarch 31, |              | Year Ended December 31, |
| Entity                                 |  | Capacity                         |  | Description                        |  | 2022                        |              | 2021                    |               | 2021 |
|                                        |  |                                  |  |                                    |  |                             |              |                         |               |      |
| CIM                                    |  | Investment adviser               |  | Management fees(1)                 |  | $                           | 6,655   |                         |               | $    | 7,783  |             |  | $ | 31,143  |  |
| CIM                                    |  | Investment adviser               |  | Incentive fees(1)                  |  | 4,133                  |              |                         | —  |      |             | 6,875  |  |
| CIM                                    |  | Administrative services provider |  | Administrative services expense(1) |  | 720                    |              |                         | 684      |      |             | 3,069  |  |
| Apollo Investment Administration, L.P. |  | Administrative services provider |  | Transaction costs(1)               |  | —                |              |                         | 47       |      |             | 105    |  |
|                                        |  |                                  |  |                                    |  |                             |              |                         |               |      |
|                                        |  |                                  |  |                                    |  |                             |              |                         |               |      |
|                                        |  |                                  |  |                                    |  | $                           | 11,508  |                         |               | $    | 8,514  |             |  | $ | 41,192  |  |

----

----

|                                                               |  |               |              |        |              |   |              |  |  |  |  |  |  |  |
|---------------------------------------------------------------|--|---------------|--------------|--------|--------------|---|--------------|--|--|--|--|--|--|--|
|                                                               |  | Distributions |
| Three Months Ended                                            |  | Per Share     |              | Amount |
| 2021                                                          |  |               |              |        |
| March 31, 2021 (three record dates)(1)                        |  | $             | 0.2648  |        |              | $ | 15,029  |  |
| June 30, 2021 (three record dates)(1)                         |  | 0.2648   |              |        | 15,000  |   |
| September 30, 2021 (three record dates)                       |  | 0.2648   |              |        | 15,027  |   |
| December 31, 2021 (two record dates)                          |  | 0.4648   |              |        | 26,474  |   |
| Total distributions for the year ended December 31, 2021      |  | $             | 1.2592  |        |              | $ | 71,530  |  |
|                                                               |  |               |              |        |
| 2022                                                          |  |               |              |        |
| March 31, 2022 (one record date)                              |  | $             | 0.2800  |        |              | $ | 15,948  |  |
| Total distributions for the three months ended March 31, 2022 |  | $             | 0.2800  |        |              | $ | 15,948  |  |

----

|                        |  |                             |              |                        |  |            |              |              |  |             |   |            |   |              |  |        |   |              |  |  |             |   |  |   |              |  |  |   |              |  |  |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------|--|-----------------------------|--------------|------------------------|--|------------|--------------|--------------|--|-------------|---|------------|---|--------------|--|--------|---|--------------|--|--|-------------|---|--|---|--------------|--|--|---|--------------|--|--|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                        |  | Three Months EndedMarch 31, |              | Year EndedDecember 31, |
|                        |  | 2022                        |              | 2021                   |  | 2021       |
| Source of Distribution |  | Per Share                   |              | Amount                 |  | Percentage |              | Per Share(1) |  | Amount      |   | Percentage |   | Per Share    |  | Amount |   | Percentage   |
| Net investment income  |  | $                           | 0.2800  |                        |  | $          | 15,948  |              |  | 100.0  | % |            | $ | 0.2648  |  |        | $ | 15,029  |  |  | 100.0  | % |  | $ | 1.2592  |  |  | $ | 71,530  |  |  | 100.0  | % |
|                        |  |                             |              |                        |  |            |              |              |  |             |   |            |   |              |  |        |   |              |
|                        |  |                             |              |                        |  |            |              |              |  |             |   |            |   |              |  |        |   |              |
|                        |  |                             |              |                        |  |            |              |              |  |             |   |            |   |              |  |        |   |              |
|                        |  |                             |              |                        |  |            |              |              |  |             |   |            |   |              |  |        |   |              |
|                        |  |                             |              |                        |  |            |              |              |  |             |   |            |   |              |  |        |   |              |
| Total distributions    |  | $                           | 0.2800  |                        |  | $          | 15,948  |              |  | 100.0  | % |            | $ | 0.2648  |  |        | $ | 15,029  |  |  | 100.0  | % |  | $ | 1.2592  |  |  | $ | 71,530  |  |  | 100.0  | % |

----

|                                            |                   |             |  |  |  |
|--------------------------------------------|-------------------|-------------|--|--|--|
|                                            | December 31, 2021 |
| Undistributed ordinary income              | $                 | 7,156  |  |
| Other accumulated losses                   | (59,977)          |             |
|                                            |                   |
| Net unrealized depreciation on investments | (76,059)          |             |
| Total accumulated losses                   | $                 | (128,880)   |  |

|                                                            |  |                 |                 |                   |                 |                                       |                 |             |   |              |                 |                                       |                 |                 |  |   |                 |                 |  |  |            |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------|--|-----------------|-----------------|-------------------|-----------------|---------------------------------------|-----------------|-------------|---|--------------|-----------------|---------------------------------------|-----------------|-----------------|--|---|-----------------|-----------------|--|--|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                            |  | March 31, 2022  |                 | December 31, 2021 |
|                                                            |  | Cost(1)         |                 | FairValue         |                 | Percentage ofInvestmentPortfolio |                 | Cost(1)     |   | FairValue    |                 | Percentage ofInvestmentPortfolio |
| Senior secured first lien debt                             |  | $               | 1,648,172  |                   |                 | $                                     | 1,597,364  |             |   | 91.8    | %               |                                       | $               | 1,564,891  |  |   | $               | 1,526,989  |  |  | 91.6  | % |
| Senior secured second lien debt                            |  | 55,547     |                 |                   | 36,875     |                                       |                 | 2.1    | % |              | 55,455     |                                       |                 | 38,583     |  |   | 2.3        | %               |
|                                                            |  |                 |                 |                   |                 |                                       |                 |             |   |              |                 |                                       |
| Collateralized securities and structured products - equity |  | 3,695      |                 |                   | 2,632      |                                       |                 | 0.2    | % |              | 3,885      |                                       |                 | 2,998      |  |   | 0.2        | %               |
| Unsecured debt                                             |  | 27,404     |                 |                   | 27,280     |                                       |                 | 1.6    | % |              | 26,777     |                                       |                 | 26,616     |  |   | 1.6        | %               |
| Equity                                                     |  | 54,504     |                 |                   | 75,383     |                                       |                 | 4.3    | % |              | 53,379     |                                       |                 | 70,936     |  |   | 4.3        | %               |
| Subtotal/total percentage                              |  | 1,789,322  |                 |                   | 1,739,534  |                                       |                 | 100.0  | % |              | 1,704,387  |                                       |                 | 1,666,122  |  |   | 100.0      | %               |
| Short term investments(2)                                  |  | 15,763     |                 |                   | 15,763     |                                       |                 |             |   | 87,917  |                 |                                       | 87,917     |                 |  |   |
| Total investments                                          |  | $               | 1,805,085  |                   |                 | $                                     | 1,755,297  |             |   |              |                 | $                                     | 1,792,304  |                 |  | $ | 1,754,039  |                 |  |  |

----

|                                                   |  |                                    |                 |                                        |             |                                    |              |                                        |                 |               |             |   |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------|--|------------------------------------|-----------------|----------------------------------------|-------------|------------------------------------|--------------|----------------------------------------|-----------------|---------------|-------------|---|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                   |  | March 31, 2022                     |                 | December 31, 2021                      |
| Industry Classification                           |  | Investments atFair Value |                 | Percentage ofInvestment Portfolio |             | Investments atFair Value |              | Percentage ofInvestment Portfolio |
| Services: Business                            |  | $                                  | 320,042    |                                        |             | 18.4                          | %            |                                        | $               | 240,316  |             |   | 14.4  | % |
| Healthcare & Pharmaceuticals                  |  | 244,993                       |                 |                                        | 14.1   | %                                  |              | 250,049                           |                 |               | 15.0   | % |
| Media: Diversified & Production           |  | 134,373                       |                 |                                        | 7.7    | %                                  |              | 139,399                           |                 |               | 8.4    | % |
| Services: Consumer                            |  | 121,488                       |                 |                                        | 7.0    | %                                  |              | 119,365                           |                 |               | 7.2    | % |
| Chemicals, Plastics & Rubber                  |  | 107,079                       |                 |                                        | 6.2    | %                                  |              | 109,860                           |                 |               | 6.6    | % |
| Diversified Financials                            |  | 101,597                       |                 |                                        | 5.8    | %                                  |              | 101,032                           |                 |               | 6.1    | % |
| High Tech Industries                              |  | 84,764                        |                 |                                        | 4.9    | %                                  |              | 65,544                            |                 |               | 3.9    | % |
| Capital Equipment                                 |  | 83,305                        |                 |                                        | 4.8    | %                                  |              | 82,795                            |                 |               | 5.0    | % |
| Media: Advertising, Printing & Publishing |  | 81,747                        |                 |                                        | 4.7    | %                                  |              | 94,610                            |                 |               | 5.7    | % |
| Consumer Goods: Durable                       |  | 57,098                        |                 |                                        | 3.3    | %                                  |              | 58,124                            |                 |               | 3.5    | % |
| Retail                                            |  | 57,066                        |                 |                                        | 3.3    | %                                  |              | 56,726                            |                 |               | 3.4    | % |
| Hotel, Gaming & Leisure                       |  | 51,909                        |                 |                                        | 3.0    | %                                  |              | 50,855                            |                 |               | 3.0    | % |
| Beverage, Food & Tobacco                      |  | 47,319                        |                 |                                        | 2.7    | %                                  |              | 49,054                            |                 |               | 2.9    | % |
| Banking, Finance, Insurance & Real Estate     |  | 40,233                        |                 |                                        | 2.3    | %                                  |              | 40,634                            |                 |               | 2.4    | % |
| Aerospace & Defense                           |  | 38,484                        |                 |                                        | 2.2    | %                                  |              | 38,279                            |                 |               | 2.3    | % |
| Energy: Oil & Gas                         |  | 37,073                        |                 |                                        | 2.1    | %                                  |              | 32,164                            |                 |               | 1.9    | % |
| Consumer Goods: Non-Durable                   |  | 36,984                        |                 |                                        | 2.1    | %                                  |              | 45,682                            |                 |               | 2.7    | % |
| Construction & Building                       |  | 27,270                        |                 |                                        | 1.6    | %                                  |              | 27,585                            |                 |               | 1.7    | % |
| Telecommunications                                |  | 24,710                        |                 |                                        | 1.4    | %                                  |              | 24,649                            |                 |               | 1.5    | % |
| Automotive                                        |  | 17,851                        |                 |                                        | 1.0    | %                                  |              | 14,367                            |                 |               | 0.9    | % |
| Transportation: Cargo                         |  | 13,141                        |                 |                                        | 0.8    | %                                  |              | 14,106                            |                 |               | 0.8    | % |
| Metals & Mining                               |  | 11,008                        |                 |                                        | 0.6    | %                                  |              | 10,927                            |                 |               | 0.7    | % |
|                                                   |  |                                    |                 |                                        |             |                                    |              |                                        |
|                                                   |  |                                    |                 |                                        |             |                                    |              |                                        |
|                                                   |  |                                    |                 |                                        |             |                                    |              |                                        |
|                                                   |  |                                    |                 |                                        |             |                                    |              |                                        |
|                                                   |  |                                    |                 |                                        |             |                                    |              |                                        |
| Subtotal/total percentage                     |  | 1,739,534                     |                 |                                        | 100.0  | %                                  |              | 1,666,122                         |                 |               | 100.0  | % |
| Short term investments                            |  | 15,763                        |                 |                                        |             |                                    | 87,917  |                                        |                 |               |
| Total investments                                 |  | $                                  | 1,755,297  |                                        |             |                                    |              | $                                      | 1,754,039  |               |             |   |

----

|                               |  |                                    |                 |                                        |               |                                    |              |                                        |                 |                 |               |   |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------|--|------------------------------------|-----------------|----------------------------------------|---------------|------------------------------------|--------------|----------------------------------------|-----------------|-----------------|---------------|---|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                               |  | March 31, 2022                     |                 | December 31, 2021                      |
| Geographic Dispersion(1)      |  | Investments atFair Value |                 | Percentage ofInvestment Portfolio |               | Investments atFair Value |              | Percentage ofInvestment Portfolio |
| United States                 |  | $                                  | 1,727,390  |                                        |               | 99.3                          | %            |                                        | $               | 1,653,615  |               |   | 99.3  | % |
| Canada                        |  | 8,794                         |                 |                                        | 0.5      | %                                  |              | 8,739                             |                 |                 | 0.5      | % |
| Cayman Islands                |  | 2,632                         |                 |                                        | 0.2      | %                                  |              | 2,998                             |                 |                 | 0.2      | % |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
| Bermuda                       |  | 718                           |                 |                                        | —  |                                    |              | 770                               |                 |                 | —  |   |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
|                               |  |                                    |                 |                                        |               |                                    |              |                                        |
| Subtotal/total percentage |  | 1,739,534                     |                 |                                        | 100.0    | %                                  |              | 1,666,122                         |                 |                 | 100.0    | % |
| Short term investments        |  | 15,763                        |                 |                                        |               |                                    | 87,917  |                                        |                 |                 |
| Total investments             |  | $                                  | 1,755,297  |                                        |               |                                    |              | $                                      | 1,754,039  |                 |               |   |

----

|                                                                                                           |  |               |  |                                         |  |                                    |             |               |              |           |               |   |               |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------------------|--|---------------|--|-----------------------------------------|--|------------------------------------|-------------|---------------|--------------|-----------|---------------|---|---------------|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                                                                         |  | Index Rate(a) |  | Industry                                |  | Principal/Par Amount/Units |             | Cost(b)       |              | FairValue |
| Senior Secured Second Lien Debt                                                                           |  |               |  |                                         |  |                                    |             |               |              |           |
| Access CIG, LLC, L+775, 0.00% LIBOR Floor, 2/27/2026                                              |  | 1 Month LIBOR |  | Services: Business                  |  | $                                  | 7,250  |               |              | $         | 7,215    |   |               | $ | 7,214  |  |
| Carestream Health, Inc., L+1250, 1.00% LIBOR Floor, 8/8/2023                                      |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 12,709                             |             | 12,366   |              |           | 12,487   |   |
| Dayton Superior Corp., L+700, 2.00% LIBOR Floor, 12/4/2024                                        |  | 3 Month LIBOR |  | Construction & Building             |  | 1,474                              |             | 1,476    |              |           | 1,463    |   |
| MedPlast Holdings, Inc., L+775, 0.00% LIBOR Floor, 7/2/2026                                       |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 6,750                              |             | 6,039    |              |           | 6,261    |   |
| Zest Acquisition Corp., L+750, 1.00% LIBOR Floor, 3/14/2026                                       |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 15,000                             |             | 14,791   |              |           | 14,850   |   |
| Total Senior Secured Second Lien Debt                                                                     |  |               |  |                                         |  |                                    |             | 41,887   |              |           | 42,275   |   |
| Collateralized Securities and Structured Products - Equity                                                |  |               |  |                                         |  |                                    |             |               |              |           |
| Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, 11.84% Estimated Yield, 2/2/2026 |  | (c)           |  | Diversified Financials                  |  | 10,000                             |             | 9,982    |              |           | 9,751    |   |
| Total Collateralized Securities and Structured Products - Equity                                          |  |               |  |                                         |  |                                    |             | 9,982    |              |           | 9,751    |   |
| Equity                                                                                                    |  |               |  |                                         |  |                                    |             |               |              |           |
| American Clinical Solutions LLC, Class A Membership Interests(d)                                          |  |               |  | Healthcare & Pharmaceuticals        |  | 6,030,384 Units                    |             | 5,200    |              |           | 6,272    |   |
| Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)                                 |  |               |  | Media: Diversified & Production |  | 1,469 Units                        |             | 486      |              |           | 1,748    |   |
| Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)                                 |  |               |  | Media: Diversified & Production |  | 255 Units                          |             | —  |              |           | 304      |   |
| Anthem Sports and Entertainment Inc., Common Stock Warrants(d)                                            |  |               |  | Media: Diversified & Production |  | 4,746 Units                        |             | —  |              |           | 2,545    |   |
| BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership)                                           |  |               |  | Diversified Financials                  |  | N/A                            |             | 11,400   |              |           | 11,410   |   |
| Carestream Health Holdings, Inc., Warrants(d)                                                             |  |               |  | Healthcare & Pharmaceuticals        |  |  388 Units                    |             | 500      |              |           | 965      |   |
| CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend                                        |  |               |  | Healthcare & Pharmaceuticals        |  | 2,727,273 Units                    |             | 7,646    |              |           | 8,182    |   |
| Dayton HoldCo, LLC, Membership Units(d)                                                                   |  |               |  | Construction & Building             |  | 37,264 Units                       |             | 8,400    |              |           | 10,556   |   |
| HDNet Holdco LLC, Preferred Unit Call Option(d)                                                           |  |               |  | Media: Diversified & Production |  | 1 Unit                             |             | —  |              |           | 412      |   |
| HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend                                           |  |               |  | Capital Equipment                       |  | 2,000,000 Units                    |             | 2,022    |              |           | 2,010    |   |
| Skillsoft Corp., Class A Common Stock(d)                                                                  |  |               |  | High Tech Industries                    |  | 243,425 Units                      |             | 2,000    |              |           | 1,470    |   |
| Spinal USA, Inc. / Precision Medical Inc., Warrants(d)                                                |  |               |  | Healthcare & Pharmaceuticals        |  | 20,667,324 Units                   |             | —  |              |           | —  |   |
| Tenere Inc., Warrants(d)                                                                                  |  |               |  | Capital Equipment                       |  | N/A                            |             | 1,166    |              |           | 2,529    |   |
| Total Equity                                                                                              |  |               |  |                                         |  |                                    |             | 38,820   |              |           | 48,403   |   |
| TOTAL INVESTMENTS                                                                                         |  |               |  |                                         |  |                                    |             | $             | 90,689  |           |               | $ | 100,429  |   |

----

|                                                                                                           |  |               |  |                                         |  |                                    |             |               |              |           |               |   |               |   |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------------------|--|---------------|--|-----------------------------------------|--|------------------------------------|-------------|---------------|--------------|-----------|---------------|---|---------------|---|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Portfolio Company                                                                                         |  | Index Rate(a) |  | Industry                                |  | Principal/Par Amount/Units |             | Cost(b)       |              | FairValue |
| Senior Secured Second Lien Debt                                                                           |  |               |  |                                         |  |                                    |             |               |              |           |
| Access CIG, LLC, L+775, 0.00% LIBOR Floor, 2/27/2026                                              |  | 1 Month LIBOR |  | Services: Business                  |  | $                                  | 7,250  |               |              | $         | 7,214    |   |               | $ | 7,256  |  |
| Carestream Health, Inc., L+1250, 1.00% LIBOR Floor, 8/8/2023                                      |  | 3 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 12,460                             |             | 12,057   |              |           | 12,242   |   |
| Dayton Superior Corp., L+700, 2.00% LIBOR Floor, 12/4/2024                                        |  | 3 Month LIBOR |  | Construction & Building             |  | 1,477                              |             | 1,479    |              |           | 1,478    |   |
| MedPlast Holdings, Inc., L+775, 0.00% LIBOR Floor, 7/2/2026                                       |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 6,750                              |             | 6,004    |              |           | 6,446    |   |
| Ministry Brands, LLC, L+925, 1.00% LIBOR Floor, 6/2/2023                                          |  | 1 Month LIBOR |  | Services: Business                  |  | 7,000                              |             | 6,983    |              |           | 7,000    |   |
| Zest Acquisition Corp., L+750, 1.00% LIBOR Floor, 3/14/2026                                       |  | 1 Month LIBOR |  | Healthcare & Pharmaceuticals        |  | 15,000                             |             | 14,776   |              |           | 14,925   |   |
| Total Senior Secured Second Lien Debt                                                                     |  |               |  |                                         |  |                                    |             | 48,513   |              |           | 49,347   |   |
| Collateralized Securities and Structured Products - Equity                                                |  |               |  |                                         |  |                                    |             |               |              |           |
| Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, 11.84% Estimated Yield, 2/2/2026 |  | (c)           |  | Diversified Financials                  |  | 10,000                             |             | 9,997    |              |           | 9,856    |   |
| Total Collateralized Securities and Structured Products - Equity                                          |  |               |  |                                         |  |                                    |             | 9,997    |              |           | 9,856    |   |
| Equity                                                                                                    |  |               |  |                                         |  |                                    |             |               |              |           |
| American Clinical Solutions LLC, Class A Membership Interests(d)                                          |  |               |  | Healthcare & Pharmaceuticals        |  | 6,030,384 Units                    |             | 5,200    |              |           | 5,729    |   |
| Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)                                 |  |               |  | Media: Diversified & Production |  | 1,469 Units                        |             | 486      |              |           | 1,704    |   |
| Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)                                 |  |               |  | Media: Diversified & Production |  | 255 Units                          |             | —  |              |           | 297      |   |
| Anthem Sports and Entertainment Inc., Common Stock Warrants(d)                                            |  |               |  | Media: Diversified & Production |  | 4,746 Units                        |             | —  |              |           | 2,572    |   |
| BCP Great Lakes Fund LP, Partnership Interests (5.6% ownership)                                           |  |               |  | Diversified Financials                  |  | N/A                            |             | 11,118   |              |           | 11,224   |   |
| Carestream Health Holdings, Inc., Warrants(d)                                                             |  |               |  | Healthcare & Pharmaceuticals        |  |  388 Units                    |             | 500      |              |           | 801      |   |
| CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend                                        |  |               |  | Healthcare & Pharmaceuticals        |  | 2,727,273 Units                    |             | 7,564    |              |           | 7,964    |   |
| Dayton HoldCo, LLC, Membership Units(d)                                                                   |  |               |  | Construction & Building             |  | 37,264 Units                       |             | 8,400    |              |           | 11,166   |   |
| HDNet Holdco LLC, Preferred Unit Call Option(d)                                                           |  |               |  | Media: Diversified & Production |  | 1 Unit                             |             | —  |              |           | —  |   |
| HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend                                           |  |               |  | Capital Equipment                       |  | 2,000,000 Units                    |             | 2,002    |              |           | 2,021    |   |
| Skillsoft Corp., Class A Common Stock(d)                                                                  |  |               |  | High Tech Industries                    |  | 243,425 Units                      |             | 2,000    |              |           | 2,227    |   |
| Spinal USA, Inc. / Precision Medical Inc., Warrants(d)                                                |  |               |  | Healthcare & Pharmaceuticals        |  | 20,667,324 Units                   |             | —  |              |           | —  |   |
| Tenere Inc., Warrants(d)                                                                                  |  |               |  | Capital Equipment                       |  | N/A                            |             | 1,166    |              |           | 1,235    |   |
| Total Equity                                                                                              |  |               |  |                                         |  |                                    |             | 38,436   |              |           | 46,940   |   |
| TOTAL INVESTMENTS                                                                                         |  |               |  |                                         |  |                                    |             | $             | 96,946  |           |               | $ | 106,143  |   |

|                                                                                            |  |                |               |                   |              |   |               |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------|--|----------------|---------------|-------------------|--------------|---|---------------|--|--|--|--|--|--|--|
| Selected Balance Sheet Information:                                                    |  | March 31, 2022 |               | December 31, 2021 |
| Investments, at fair value (amortized cost of $90,689 and $96,946, respectively)           |  | $              | 100,429  |                   |              | $ | 106,143  |  |
| Cash and other assets                                                                      |  | 6,613     |               |                   | 1,776   |   |
|                                                                                            |  |                |               |                   |
| Dividend receivable on investments                                                         |  | 161       |               |                   | 265     |   |
| Interest receivable on investments                                                         |  | 600       |               |                   | 109     |   |
|    Total assets                                                             |  | $              | 107,803  |                   |              | $ | 108,293  |  |
|                                                                                            |  |                |               |                   |
| Senior secured notes (net of unamortized debt issuance costs of $112 and $0, respectively) |  | $              | 72,393   |                   |              | $ | 72,504   |  |
| Other liabilities                                                                          |  | 650       |               |                   | 735     |   |
|    Total liabilities                                                        |  | 73,043    |               |                   | 73,239  |   |
| Members' capital                                                                           |  | 34,760    |               |                   | 35,054  |   |
|    Total liabilities and members' capital                                   |  | $              | 107,803  |                   |              | $ | 108,293  |  |

----

|                                                      |  |                                   |             |                                                                                      |             |   |             |  |  |  |  |  |  |  |
|------------------------------------------------------|--|-----------------------------------|-------------|--------------------------------------------------------------------------------------|-------------|---|-------------|--|--|--|--|--|--|--|
| Selected Statement of Operations Information:    |  | Three Months Ended March 31, 2022 |             | Period From December 21, 2021 (Commencement of Operations) Through December 31, 2021 |
| Total revenues                                       |  | $                                 | 1,884  |                                                                                      |             | $ | 688    |  |
| Total expenses                                       |  | 2,720                        |             |                                                                                      | 800    |   |
|                                                      |  |                                   |             |                                                                                      |
| Net change in unrealized appreciation on investments |  | 542                          |             |                                                                                      | 9,197  |   |
| Net (decrease) increase in net assets                |  | $                                 | (294)       |                                                                                      |             | $ | 9,085  |  |
|                                                      |  |                                   |             |                                                                                      |
|                                                      |  |                                   |             |                                                                                      |
|                                                      |  |                                   |             |                                                                                      |
|                                                      |  |                                   |             |                                                                                      |
|                                                      |  |                                   |             |                                                                                      |
|                                                      |  |                                   |             |                                                                                      |

|                                                   |                             |               |                         |          |      |               |          |  |   |               |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------|-----------------------------|---------------|-------------------------|----------|------|---------------|----------|--|---|---------------|--|--|--|--|--|--|--|--|--|
|                                                   | Three Months EndedMarch 31, |               | Year Ended December 31, |          |      |
| Selected Statement of Operations Information: | 2022                        |               | 2021                    |          | 2021 |               |          |
| Total revenues                                    | $                           | —  |                         |          | $    | 29       |          |  | $ | 29       |  |  |  |
| Total expenses                                    | —                |               |                         | 29  |      |               | 29  |  |   |               |
|                                                   |                             |               |                         |          |      |               |          |
|                                                   |                             |               |                         |          |      |               |          |
| Net increase in net assets                        | $                           | —  |                         |          | $    | —  |          |  | $ | —  |  |  |  |
|                                                   |                             |               |                         |          |      |               |          |
|                                                   |                             |               |                         |          |      |               |          |
|                                                   |                             |               |                         |          |      |               |          |
|                                                   |                             |               |                         |          |      |               |          |
|                                                   |                             |               |                         |          |      |               |          |
|                                                   |                             |               |                         |          |      |               |          |

----

|                       |  |                               |  |            |  |                    |               |                  |               |               |               |                    |  |              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------|--|-------------------------------|--|------------|--|--------------------|---------------|------------------|---------------|---------------|---------------|--------------------|--|--------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Financing Arrangement |  | Type of Financing Arrangement |  | Rate       |  | Amount Outstanding |               | Amount Available |               | Maturity Date |
| JPM Credit Facility   |  | Term Loan Credit Facility     |  | L+3.10%    |  | $                  | 550,000  |                  |               | $             | 25,000   |                    |  | May 15, 2024 |
|                       |  |                               |  | SOFR+3.10% |  | 45,000        |               |                  | 55,000   |               |               |                    |
| 2026 Notes(1)         |  | Note Purchase Agreement       |  | 4.50%      |  | 125,000       |               |                  | —  |               |               | February 11, 2026  |
| UBS Facility          |  | Repurchase Agreement          |  | L+3.375%   |  | 125,000       |               |                  | 25,000   |               |               | November 19, 2023  |
| More Term Loan(2)     |  | Term Loan Facility Agreement  |  | 5.20%      |  | 30,000        |               |                  | —  |               |               | September 30, 2024 |
|                       |  |                               |  |            |  | $                  | 875,000  |                  |               | $             | 105,000  |                    |  |              |

----

|                                          |  |                              |               |                         |            |      |               |             |   |   |               |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|------------------------------|---------------|-------------------------|------------|------|---------------|-------------|---|---|---------------|--|--|--|--|--|--|--|--|--|
|                                          |  | Three Months Ended March 31, |               | Year Ended December 31, |
|                                          |  | 2022                         |               | 2021                    |            | 2021 |
| Stated interest expense                  |  | $                            | 4,707    |                         |            | $    | 4,818    |             |   | $ | 18,299   |  |
| Amortization of deferred financing costs |  | 490                     |               |                         | 677   |      |               | 2,119  |   |
| Non-usage fee                            |  | 70                      |               |                         | 219   |      |               | 457    |   |
| Total interest expense                   |  | $                            | 5,267    |                         |            | $    | 5,714    |             |   | $ | 20,875   |  |
| Weighted average interest rate(1)        |  | 3.44                    | %             |                         | 3.56  | %    |               | 3.36   | % |
| Average borrowings                       |  | $                            | 551,333  |                         |            | $    | 565,278  |             |   | $ | 549,110  |  |

----

|                                          |  |                                   |               |                                                              |            |                                                                 |               |            |   |   |               |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|-----------------------------------|---------------|--------------------------------------------------------------|------------|-----------------------------------------------------------------|---------------|------------|---|---|---------------|--|--|--|--|--|--|--|--|--|
|                                          |  | Three Months Ended March 31, 2022 |               | For the Period From February 11, 2021 Through March 31, 2021 |            | For the Period From February 11, 2021 Through December 31, 2021 |
|                                          |  |                                   |               |
| Stated interest expense                  |  | $                                 | 1,406    |                                                              |            | $                                                               | 766      |            |   | $ | 5,062    |  |
| Amortization of deferred financing costs |  | 131                          |               |                                                              | 72    |                                                                 |               | 473   |   |
|                                          |  |                                   |               |                                                              |            |                                                                 |
| Total interest expense                   |  | $                                 | 1,537    |                                                              |            | $                                                               | 838      |            |   | $ | 5,535    |  |
| Weighted average interest rate(1)        |  | 4.50                         | %             |                                                              | 4.50  | %                                                               |               | 4.50  | % |
| Average borrowings                       |  | $                                 | 125,000  |                                                              |            | $                                                               | 125,000  |            |   | $ | 125,000  |  |

----

----

----

|                                   |  |                              |               |                         |            |      |               |            |   |   |               |  |  |  |  |  |  |  |  |  |
|-----------------------------------|--|------------------------------|---------------|-------------------------|------------|------|---------------|------------|---|---|---------------|--|--|--|--|--|--|--|--|--|
|                                   |  | Three Months Ended March 31, |               | Year Ended December 31, |
|                                   |  | 2022                         |               | 2021                    |            | 2021 |
| Stated interest expense           |  | $                            | 1,147    |                         |            | $    | 902      |            |   | $ | 3,731    |  |
| Non-usage fee                     |  | 47                      |               |                         | 94    |      |               | 349   |   |
|                                   |  |                              |               |                         |            |      |
| Total interest expense            |  | $                            | 1,194    |                         |            | $    | 996      |            |   | $ | 4,080    |  |
| Weighted average interest rate(1) |  | 3.82                    | %             |                         | 3.98  | %    |               | 3.86  | % |
| Average borrowings                |  | $                            | 125,000  |                         |            | $    | 100,000  |            |   | $ | 104,110  |  |

----

|                                          |  |  |  |                                   |              |                                                              |            |   |              |  |  |  |  |  |  |  |
|------------------------------------------|--|--|--|-----------------------------------|--------------|--------------------------------------------------------------|------------|---|--------------|--|--|--|--|--|--|--|
|                                          |  |  |  | Three Months Ended March 31, 2022 |              | For the Period From April 14, 2021 Through December 31, 2021 |
| Stated interest expense                  |  |  |  | $                                 | 390     |                                                              |            | $ | 1,109   |  |
|                                          |  |  |  |                                   |              |                                                              |
| Amortization of deferred financing costs |  |  |  | 71                           |              |                                                              | 208   |   |
| Total interest expense                   |  |  |  | $                                 | 461     |                                                              |            | $ | 1,317   |  |
| Weighted average interest rate(1)        |  |  |  | 5.20                         | %            |                                                              | 5.20  | % |
| Average borrowings                       |  |  |  | $                                 | 30,000  |                                                              |            | $ | 30,000  |  |

|                                                            |                   |               |                      |               |         |               |               |  |         |                 |         |  |               |                 |       |               |   |               |               |  |   |               |  |  |   |                 |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------|-------------------|---------------|----------------------|---------------|---------|---------------|---------------|--|---------|-----------------|---------|--|---------------|-----------------|-------|---------------|---|---------------|---------------|--|---|---------------|--|--|---|-----------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                            | March 31, 2022(1) |               | December 31, 2021(2) |
|                                                            | Level 1           |               | Level 2              |               | Level 3 |               | Total         |  | Level 1 |                 | Level 2 |  | Level 3       |                 | Total |
| Senior secured first lien debt                             | $                 | —  |                      |               | $       | —  |               |  | $       | 1,597,364  |         |  | $             | 1,597,364  |       |               | $ | —  |               |  | $ | —  |  |  | $ | 1,526,989  |  |  | $ | 1,526,989  |  |
| Senior secured second lien debt                            | —      |               |                      | —  |         |               | 36,875   |  |         | 36,875     |         |  | —  |                 |       | —  |   |               | 38,583   |  |   | 38,583   |  |
|                                                            |                   |               |                      |               |         |               |               |  |         |                 |         |  |               |                 |       |
| Collateralized securities and structured products - equity | —      |               |                      | —  |         |               | 2,632    |  |         | 2,632      |         |  | —  |                 |       | —  |   |               | 2,998    |  |   | 2,998    |  |
| Unsecured debt                                             | —      |               |                      | —  |         |               | 27,280   |  |         | 27,280     |         |  | —  |                 |       | —  |   |               | 26,616   |  |   | 26,616   |  |
| Equity                                                     | 3,432        |               |                      | —  |         |               | 42,405   |  |         | 45,837     |         |  | 3,404    |                 |       | —  |   |               | 37,736   |  |   | 41,140   |  |
| Short term investments                                     | 15,763       |               |                      | —  |         |               | —  |  |         | 15,763     |         |  | 87,917   |                 |       | —  |   |               | —  |  |   | 87,917   |  |
| Total Investments                                          | $                 | 19,195   |                      |               | $       | —  |               |  | $       | 1,706,556  |         |  | $             | 1,725,751  |       |               | $ | 91,321   |               |  | $ | —  |  |  | $ | 1,632,922  |  |  | $ | 1,724,243  |  |

|                                                                                                        |                                  |                 |                                 |               |   |              |                                                            |  |                |  |        |               |       |  |               |              |  |               |   |              |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------------------|----------------------------------|-----------------|---------------------------------|---------------|---|--------------|------------------------------------------------------------|--|----------------|--|--------|---------------|-------|--|---------------|--------------|--|---------------|---|--------------|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                                        | Three Months EndedMarch 31, 2022 |
|                                                                                                        | Senior Secured First Lien Debt   |                 | Senior Secured Second Lien Debt |               |   |              | Collateralized Securities and Structured Products - Equity |  | Unsecured Debt |  | Equity |               | Total |
| Beginning balance, December 31, 2021                                                                   | $                                | 1,526,989  |                                 |               | $ | 38,583  |                                                            |  |                |  | $      | 2,998    |       |  | $             | 26,616  |  |               | $ | 37,736  |  |  | $ | 1,632,922  |  |
| Investments purchased(2)                                                                               | 141,792                     |                 |                                 | —  |   |              |                                                            |  | —   |  |        | 623      |       |  | 1,125    |              |  | 143,540  |   |
| Net realized (loss) gain                                                                               | (73)                             |                 |                                 | 4        |   |              |                                                            |  | —   |  |        | —  |       |  | —  |              |  | (69)          |   |
| Net change in unrealized (depreciation) appreciation                                                   | (12,906)                         |                 |                                 | (1,800)       |   |              |                                                            |  | (176)          |  |        | 37       |       |  | 3,544    |              |  | (11,301)      |   |
| Accretion of discount                                                                                  | 2,404                       |                 |                                 | 88       |   |              |                                                            |  | —   |  |        | 4        |       |  | —  |              |  | 2,496    |   |
| Sales and principal repayments                                                                         | (60,842)                         |                 |                                 | —  |   |              |                                                            |  | (190)          |  |        | —  |       |  | —  |              |  | (61,032)      |   |
| Ending balance, March 31, 2022                                                                         | $                                | 1,597,364  |                                 |               | $ | 36,875  |                                                            |  |                |  | $      | 2,632    |       |  | $             | 27,280  |  |               | $ | 42,405  |  |  | $ | 1,706,556  |  |
| Change in net unrealized (depreciation) appreciation on investments still held as of March 31, 2022(1) | $                                | (12,710)        |                                 |               | $ | (1,800)      |                                                            |  |                |  | $      | (176)         |       |  | $             | 37      |  |               | $ | 3,544   |  |  | $ | (11,105)        |  |

----

|                                                                                         |                                  |                 |                                 |               |   |               |                                                            |  |                |  |        |               |  |  |               |             |  |  |   |               |  |  |  |  |   |                 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------|----------------------------------|-----------------|---------------------------------|---------------|---|---------------|------------------------------------------------------------|--|----------------|--|--------|---------------|--|--|---------------|-------------|--|--|---|---------------|--|--|--|--|---|-----------------|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                                                         | Three Months EndedMarch 31, 2021 |
|                                                                                         | Senior Secured First Lien Debt   |                 | Senior Secured Second Lien Debt |               |   |               | Collateralized Securities and Structured Products - Equity |  | Unsecured Debt |  | Equity |               |  |  | Total         |
| Beginning balance, December 31, 2020                                                    | $                                | 1,223,268  |                                 |               | $ | 151,506  |                                                            |  |                |  | $      | 12,131   |  |  | $             | 5,464  |  |  | $ | 75,913   |  |  |  |  | $ | 1,468,282  |  |
| Investments purchased(2)                                                                | 189,026                     |                 |                                 | 1,027    |   |               |                                                            |  | —   |  |        | —  |  |  | 1,298    |             |  |  |   | 191,351  |  |
| Net realized loss                                                                       | (1,073)                          |                 |                                 | —  |   |               |                                                            |  | —   |  |        | —  |  |  | —  |             |  |  |   | (1,073)       |  |
| Net change in unrealized appreciation                                                   | 14,918                      |                 |                                 | 1,930    |   |               |                                                            |  | 1,862     |  |        | 26       |  |  | 14,198   |             |  |  |   | 32,934   |  |
| Accretion of discount                                                                   | 3,002                       |                 |                                 | 167      |   |               |                                                            |  | —   |  |        | 3        |  |  | —  |             |  |  |   | 3,172    |  |
| Sales and principal repayments                                                          | (173,715)                        |                 |                                 | (4)           |   |               |                                                            |  | (153)          |  |        | —  |  |  | —  |             |  |  |   | (173,872)     |  |
| Ending balance, March 31, 2021                                                          | $                                | 1,255,426  |                                 |               | $ | 154,626  |                                                            |  |                |  | $      | 13,840   |  |  | $             | 5,493  |  |  | $ | 91,409   |  |  |  |  | $ | 1,520,794  |  |
| Change in net unrealized depreciation on investments still held as of March 31, 2021(1) | $                                | 12,423     |                                 |               | $ | 1,930    |                                                            |  |                |  | $      | 1,862    |  |  | $             | 26     |  |  | $ | 14,198   |  |  |  |  | $ | 30,439     |  |

|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |         |         |        |       |       |      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------|--|----------------|-----------------|----------------------------------------|----------------------------|----------------------|---------------------|----------------|---------|---------------------|---------|---------|--------|-------|-------|------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                            |  | March 31, 2022 |
|                                                            |  | Fair Value     |                 | Valuation Techniques/Methodologies |                            | UnobservableInputs   |                     | Range          |         | Weighted Average(1) |
| Senior secured first lien debt                             |  | $              | 1,406,429  |                                        |                            | Discounted Cash Flow |                     | Discount Rates |         | 5.5%                |         | — |        | 26.6% |       | 9.8% |
|                                                            |  | 127,421   |                 |                                        | Broker Quotes              |                      | Broker Quotes       |                | N/A |                     | N/A |
|                                                            |  | 28,346    |                 |                                        | Market Comparable Approach |                      | EBITDA Multiple     |                | 5.00x   |                     | — |         | 6.25x  |       | 6.13x |
|                                                            |  | 19,534    |                 |                                        |                            | Revenue Multiple     |                     | 1.60x          |         | —             |         | 2.25x   |        | 1.81x |
|                                                            |  | 15,634    |                 |                                        | Other(2)                   |                      | Other(2)            |                | N/A |                     | N/A |
| Senior secured second lien debt                            |  | 24,781    |                 |                                        | Discounted Cash Flow       |                      | Discount Rates      |                | 9.2%    |                     | — |         | 18.1%  |       | 13.6% |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |
|                                                            |  | 12,094    |                 |                                        | Market Comparable Approach |                      | EBITDA Multiple     |                | 8.50x   |                     | N/A |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |
| Collateralized securities and structured products - equity |  | 2,632     |                 |                                        | Discounted Cash Flow       |                      | Discount Rates      |                | 16.0%   |                     | N/A |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |
| Unsecured debt                                             |  | 27,280    |                 |                                        | Discounted Cash Flow       |                      | Discount Rates      |                | 13.5%   |                     | — |         | 16.1%  |       | 14.1% |
| Equity                                                     |  | 18,662    |                 |                                        | Market Comparable Approach |                      | EBITDA Multiple     |                | 3.40x   |                     | — |         | 12.00x |       | 7.54x |
|                                                            |  | 17,828    |                 |                                        |                            | $ per kW             |                     | $387.50        |         | N/A             |
|                                                            |  | 5,359     |                 |                                        |                            | Revenue Multiple     |                     | 0.50x          |         | —             |         | 2.25x   |        | 1.74x |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |
|                                                            |  | 556       |                 |                                        | Options Pricing Model      |                      | Expected Volatility |                | 66.2%   |                     | — |         | 84.2%  |       | 66.3% |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |
|                                                            |  |                |                 |                                        |                            |                      |                     |                |         |                     |         |         |        |       |
| Total                                                      |  | $              | 1,706,556  |                                        |                            |                      |                     |                |         |                     |         |         |        |       |       |      |

----

|                                                            |  |                   |                 |                                        |                            |                      |                     |                |         |                     |         |         |        |       |       |      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------------------------|--|-------------------|-----------------|----------------------------------------|----------------------------|----------------------|---------------------|----------------|---------|---------------------|---------|---------|--------|-------|-------|------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                            |  | December 31, 2021 |
|                                                            |  | Fair Value        |                 | Valuation Techniques/Methodologies |                            | UnobservableInputs   |                     | Range          |         | Weighted Average(1) |
| Senior secured first lien debt                             |  | $                 | 1,292,635  |                                        |                            | Discounted Cash Flow |                     | Discount Rates |         | 5.5%                |         | — |        | 24.7% |       | 9.9% |
|                                                            |  | 183,768      |                 |                                        | Broker Quotes              |                      | Broker Quotes       |                | N/A |                     | N/A |
|                                                            |  | 27,557       |                 |                                        | Market Comparable Approach |                      | EBITDA Multiple     |                | 3.50x   |                     | — |         | 6.00x  |       | 4.98x |
|                                                            |  | 6,327        |                 |                                        |                            | Revenue Multiple     |                     | 2.25x          |         | N/A             |
|                                                            |  | 16,702       |                 |                                        | Other(2)                   |                      | Other(2)            |                | N/A |                     | N/A |
| Senior secured second lien debt                            |  | 24,408       |                 |                                        | Discounted Cash Flow       |                      | Discount Rates      |                | 8.5%    |                     | — |         | 18.6%  |       | 12.7% |
|                                                            |  | 14,175       |                 |                                        | Broker Quotes              |                      | Broker Quotes       |                | N/A |                     | N/A |
|                                                            |  |                   |                 |                                        |                            |                      |                     |                |         |                     |
|                                                            |  |                   |                 |                                        |                            |                      |                     |                |         |
|                                                            |  |                   |                 |                                        |                            |                      |                     |                |         |                     |
| Collateralized securities and structured products - equity |  | 2,998        |                 |                                        | Discounted Cash Flow       |                      | Discount Rates      |                | 16.0%   |                     | N/A |
|                                                            |  |                   |                 |                                        |                            |                      |                     |                |         |                     |
| Unsecured debt                                             |  | 26,616       |                 |                                        | Discounted Cash Flow       |                      | Discount Rates      |                | 12.7%   |                     |         |         | 16.2%  |       | 13.6% |
| Equity                                                     |  | 17,596       |                 |                                        | Market Comparable Approach |                      | EBITDA Multiple     |                | 3.25x   |                     | — |         | 21.50x |       | 9.88x |
|                                                            |  | 15,127       |                 |                                        |                            | $ per kW             |                     | $325           |         | N/A             |
|                                                            |  | 4,032        |                 |                                        |                            | Revenue Multiple     |                     | 0.68x          |         | —             |         | 2.00x   |        | 1.87x |
|                                                            |  | 981          |                 |                                        | Options Pricing Model      |                      | Expected Volatility |                | 73.0%   |                     | — |         | 84.2%  |       | 73.0% |
| Total                                                      |  | $                 | 1,632,922  |                                        |                            |                      |                     |                |         |                     |         |         |        |       |       |      |

|                                          |                              |             |                         |           |      |             |             |  |   |             |  |  |  |  |  |  |  |
|------------------------------------------|------------------------------|-------------|-------------------------|-----------|------|-------------|-------------|--|---|-------------|--|--|--|--|--|--|--|
|                                          | Three Months Ended March 31, |             | Year Ended December 31, |
|                                          | 2022                         |             | 2021                    |           | 2021 |
| Professional fees                        | $                            | 633    |                         |           | $    | 1,265  |             |  | $ | 4,214  |  |
| Dues and subscriptions                   | 535                     |             |                         | 169  |      |             | 411    |  |
| Transfer agent expense                   | 291                     |             |                         | 422  |      |             | 1,290  |  |
| Insurance expense                        | 251                     |             |                         | 132  |      |             | 612    |  |
| Valuation expense                        | 179                     |             |                         | 252  |      |             | 904    |  |
| Accounting and administrative costs      | 157                     |             |                         | 237  |      |             | 759    |  |
| Director fees and expenses               | 154                     |             |                         | 103  |      |             | 516    |  |
| Printing and marketing expense           | 5                       |             |                         | 44   |      |             | 990    |  |
|                                          |                              |             |                         |           |      |
| Other expenses                           | 17                      |             |                         | 54   |      |             | 109    |  |
| Total general and administrative expense | $                            | 2,222  |                         |           | $    | 2,678  |             |  | $ | 9,805  |  |

----

|                                           |  |                   |              |                      |               |   |               |  |  |  |  |  |  |  |
|-------------------------------------------|--|-------------------|--------------|----------------------|---------------|---|---------------|--|--|--|--|--|--|--|
| Unfunded Commitments                      |  | March 31, 2022(1) |              | December 31, 2021(1) |
| Cennox, Inc.                              |  | $                 | 14,286  |                      |               | $ | —  |  |
| West Dermatology Management Holdings, LLC |  | 6,255        |              |                      | 6,308    |   |
| Critical Nurse Staffing, LLC              |  | 5,899        |              |                      | 5,899    |   |
| Instant Web, LLC                          |  | 5,845        |              |                      | 2,704    |   |
| Mimeo.com, Inc.                           |  | 5,000        |              |                      | 5,000    |   |
| Williams Industrial Services Group, Inc.  |  | 5,000        |              |                      | 5,000    |   |
| Novum Orthopedic Partners Management, LLC |  | 4,891        |              |                      | —  |   |
| Rogers Mechanical Contractors, LLC        |  | 4,808        |              |                      | 4,808    |   |
| MacNeill Pride Group Corp.                |  | 4,783        |              |                      | —  |   |
| Trademark Global, LLC                     |  | 4,615        |              |                      | 4,615    |   |
| Molded Devices, Inc.                      |  | 3,807        |              |                      | 4,426    |   |
| American Health Staffing Group, Inc.      |  | 3,333        |              |                      | 2,333    |   |
| Coyote Buyer, LLC                         |  | 2,500        |              |                      | 2,500    |   |
| Moss Holding Company                      |  | 2,232        |              |                      | 2,232    |   |
| HW Acquisition, LLC                       |  | 2,200        |              |                      | 2,933    |   |
| Inotiv, Inc.                              |  | 2,100        |              |                      | 2,100    |   |
| Foundation Consumer Healthcare, LLC       |  | 2,094        |              |                      | 2,094    |   |
| Bradshaw International Parent Corp.       |  | 1,844        |              |                      | 1,445    |   |
| RumbleOn, Inc.                            |  | 1,775        |              |                      | 6,000    |   |
| Sleep Opco, LLC                           |  | 1,750        |              |                      | 1,750    |   |
| Extreme Reach, Inc.                       |  | 1,744        |              |                      | 1,744    |   |
| BDS Solutions Intermediateco, LLC         |  | 1,619        |              |                      | —  |   |
| Optio Rx, LLC                             |  | 1,530        |              |                      | —  |   |
| NWN Parent Holdings LLC                   |  | 1,380        |              |                      | 1,380    |   |
| Anthem Sports & Entertainment Inc.    |  | 1,167        |              |                      | 1,167    |   |
| Homer City Holdings LLC                   |  | 1,000        |              |                      | —  |   |
| Invincible Boat Company LLC               |  | 798          |              |                      | 798      |   |
| RA Outdoors, LLC                          |  | 630          |              |                      | 1,049    |   |
| Appalachian Resource Company, LLC         |  | 500          |              |                      | 500      |   |
| H.W. Lochner, Inc.                        |  | 375          |              |                      | 275      |   |
| American Teleconferencing Services, Ltd.  |  | 235          |              |                      | 235      |   |
| Genesis Healthcare, Inc.                  |  | —      |              |                      | 35,000   |   |
| American Media, Inc.                      |  | —      |              |                      | 1,702    |   |
| Marble Point Credit Management LLC        |  | —      |              |                      | 1,250    |   |
| Total                                     |  | $                 | 95,995  |                      |               | $ | 107,247  |  |

----

|                                    |                             |             |                        |           |      |           |           |  |   |             |  |  |  |  |  |  |  |
|------------------------------------|-----------------------------|-------------|------------------------|-----------|------|-----------|-----------|--|---|-------------|--|--|--|--|--|--|--|
|                                    | Three Months EndedMarch 31, |             | Year EndedDecember 31, |
|                                    | 2022                        |             | 2021                   |           | 2021 |
| Capital structuring and other fees | $                           | 1,022  |                        |           | $    | 294  |           |  | $ | 4,973  |  |
| Amendment fees                     | 395                    |             |                        | 584  |      |           | 869  |  |
| Administrative agent fees          | 25                     |             |                        | 55   |      |           | 85   |  |
| Total                              | $                           | 1,442  |                        |           | $    | 933  |           |  | $ | 5,927  |  |

----

|                                                                                                                                         |  |                             |               |                        |                  |      |               |                  |   |   |               |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------------------------------------------------|--|-----------------------------|---------------|------------------------|------------------|------|---------------|------------------|---|---|---------------|--|--|--|--|--|--|--|--|--|
|                                                                                                                                         |  | Three Months EndedMarch 31, |               | Year EndedDecember 31, |
|                                                                                                                                         |  | 2022                        |               | 2021                   |                  | 2021 |
| Per share data:(1)                                                                                                                  |  |                             |               |                        |                  |      |
| Net asset value at beginning of period                                                                                                  |  | $                           | 16.34    |                        |                  | $    | 15.50    |                  |   | $ | 15.50    |  |
| Results of operations:                                                                                                              |  |                             |               |                        |                  |      |
| Net investment income                                                                                                                   |  | 0.34                   |               |                        | 0.31        |      |               | 1.31        |   |
| Net realized (loss) gain and net change in unrealized (depreciation) appreciation on investments and (loss) gain on foreign currency(2) |  | (0.20)                      |               |                        | 0.57        |      |               | 0.79        |   |
| Net increase in net assets resulting from operations(2)                                                                                 |  | 0.14                   |               |                        | 0.88        |      |               | 2.10        |   |
| Shareholder distributions:                                                                                                          |  |                             |               |                        |                  |      |
| Distributions from net investment income                                                                                                |  | (0.28)                      |               |                        | (0.26)           |      |               | (1.26)           |   |
|                                                                                                                                         |  |                             |               |                        |                  |      |
|                                                                                                                                         |  |                             |               |                        |                  |      |
|                                                                                                                                         |  |                             |               |                        |                  |      |
| Net decrease in net assets resulting from shareholders' distributions                                                                   |  | (0.28)                      |               |                        | (0.26)           |      |               | (1.26)           |   |
| Capital share transactions:                                                                                                         |  |                             |               |                        |                  |      |
| Issuance of common stock above net asset value(3)                                                                                       |  | —                |               |                        | —     |      |               | —     |   |
| Repurchases of common stock(4)                                                                                                          |  | —                |               |                        | —     |      |               | —     |   |
| Net increase in net assets resulting from capital share transactions                                                                    |  | —                |               |                        | —     |      |               | —     |   |
| Net asset value at end of period                                                                                                        |  | $                           | 16.20    |                        |                  | $    | 16.12    |                  |   | $ | 16.34    |  |
| Shares of common stock outstanding at end of period(5)                                                                                  |  | 56,958,440             |               |                        | 56,649,901  |      |               | 56,958,440  |   |
| Total investment return-net asset value(6)                                                                                              |  | 1.01                   | %             |                        | 5.73        | %    |               | 14.43       | % |
| Total investment return-market value(7)                                                                                                 |  | 15.38                  | %             |                        | —     |      |               | 3.87        | % |
| Net assets at beginning of period                                                                                                       |  | $                           | 930,512  |                        |                  | $    | 878,256  |                  |   | $ | 878,256  |  |
| Net assets at end of period                                                                                                             |  | $                           | 922,453  |                        |                  | $    | 912,942  |                  |   | $ | 930,512  |  |
| Average net assets                                                                                                                      |  | $                           | 931,165  |                        |                  | $    | 891,806  |                  |   | $ | 918,824  |  |
| Ratio/Supplemental data:                                                                                                        |  |                             |               |                        |                  |      |
| Ratio of net investment income to average net assets                                                                                    |  | 2.09                   | %             |                        | 1.97        | %    |               | 8.09        | % |
| Ratio of gross operating expenses to average net assets(8)                                                                              |  | 2.38                   | %             |                        | 2.10        | %    |               | 9.04        | % |
| Ratio of net operating expenses to average net assets                                                                                   |  | 2.38                   | %             |                        | 2.10        | %    |               | 9.04        | % |
| Portfolio turnover rate(9)                                                                                                              |  | 3.60                   | %             |                        | 12.20       | %    |               | 52.04       | % |
| Total amount of senior securities outstanding                                                                                           |  | $                           | 875,000  |                        |                  | $    | 725,000  |                  |   | $ | 830,000  |  |
| Asset coverage ratio(10)                                                                                                                |  | 2.05                   |               |                        | 2.26        |      |               | 2.12        |   |

----

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----

|                                                        |  |                             |               |                        |  |  |  |      |               |      |               |              |  |   |               |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------|--|-----------------------------|---------------|------------------------|--|--|--|------|---------------|------|---------------|--------------|--|---|---------------|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                        |  | Three Months EndedMarch 31, |               | Year EndedDecember 31, |  |  |  |      |
| Net Investment Activity                                |  | 2022                        |               |                        |  |  |  | 2021 |               | 2021 |               |              |  |   |
| Purchases and drawdowns                                |  |                             |               |                        |  |  |  |      |               |      |               |              |  |   |
|     Senior secured first lien debt |  | $                           | 136,698  |                        |  |  |  |      |               | $    | 181,990  |              |  | $ | 868,031  |  |  |  |  |  |
|                                                        |  |                             |               |                        |  |  |  |      |               |      |               |              |  |   |
|                                                        |  |                             |               |                        |  |  |  |      |               |      |               |              |  |   |
|     Unsecured debt                 |  | —                |               |                        |  |  |  |      | —  |      |               | 20,000  |  |   |               |  |  |
|     Equity                         |  | 1,125                  |               |                        |  |  |  |      | 1,644    |      |               | 32,008  |  |   |               |  |  |
| Sales and principal repayments                         |  | (61,031)                    |               |                        |  |  |  |      | (189,274)     |      |               | (827,958)    |  |   |               |  |  |
| Net portfolio activity                                 |  | $                           | 76,792   |                        |  |  |  |      |               | $    | (5,640)       |              |  | $ | 92,081   |  |  |  |  |  |

|                                                               |  |                     |                 |                       |                 |                                       |                 |             |   |            |   |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------|--|---------------------|-----------------|-----------------------|-----------------|---------------------------------------|-----------------|-------------|---|------------|---|--|--|--|--|--|--|--|--|--|
|                                                               |  | March 31, 2022      |
|                                                               |  | Investments Cost(1) |                 | Investments FairValue |                 | Percentage ofInvestmentPortfolio |
| Senior secured first lien debt                                |  | $                   | 1,648,172  |                       |                 | $                                     | 1,597,364  |             |   | 91.8  | % |
| Senior secured second lien debt                               |  | 55,547         |                 |                       | 36,875     |                                       |                 | 2.1    | % |
|                                                               |  |                     |                 |                       |                 |                                       |
| Collateralized securities and structured products - equity    |  | 3,695          |                 |                       | 2,632      |                                       |                 | 0.2    | % |
| Unsecured debt                                                |  | 27,404         |                 |                       | 27,280     |                                       |                 | 1.6    | % |
| Equity                                                        |  | 54,504         |                 |                       | 75,383     |                                       |                 | 4.3    | % |
| Subtotal/total percentage                                 |  | 1,789,322      |                 |                       | 1,739,534  |                                       |                 | 100.0  | % |
| Short term investments(2)                                     |  | 15,763         |                 |                       | 15,763     |                                       |                 |             |
| Total investments                                             |  | $                   | 1,805,085  |                       |                 | $                                     | 1,755,297  |             |   |            |
| Number of portfolio companies                                 |  |                     |                 | 115              |                 |
| Average annual EBITDA of portfolio companies                  |  | $48.9 million       |
| Median annual EBITDA of portfolio companies                   |  |                     |                 | $32.8 million         |
| Purchased at a weighted average price of par                  |  | 98.06          | %               |
| Gross annual portfolio yield based upon the purchase price(3) |  | 8.64           | %               |

----

|                                                               |                     |                 |                       |                 |                                       |                 |             |   |            |   |  |  |  |  |  |  |  |
|---------------------------------------------------------------|---------------------|-----------------|-----------------------|-----------------|---------------------------------------|-----------------|-------------|---|------------|---|--|--|--|--|--|--|--|
|                                                               | December 31, 2021   |
|                                                               | Investments Cost(1) |                 | Investments FairValue |                 | Percentage ofInvestmentPortfolio |
| Senior secured first lien debt                                | $                   | 1,564,891  |                       |                 | $                                     | 1,526,989  |             |   | 91.6  | % |
| Senior secured second lien debt                               | 55,455         |                 |                       | 38,583     |                                       |                 | 2.3    | % |
|                                                               |                     |                 |                       |                 |                                       |
| Collateralized securities and structured products - equity    | 3,885          |                 |                       | 2,998      |                                       |                 | 0.2    | % |
| Unsecured debt                                                | 26,777         |                 |                       | 26,616     |                                       |                 | 1.6    | % |
| Equity                                                        | 53,379         |                 |                       | 70,936     |                                       |                 | 4.3    | % |
| Subtotal/total percentage                                 | 1,704,387      |                 |                       | 1,666,122  |                                       |                 | 100.0  | % |
| Short term investments(2)                                     | 87,917         |                 |                       | 87,917     |                                       |                 |        |
| Total investments                                             | $                   | 1,792,304  |                       |                 | $                                     | 1,754,039  |             |   |            |
| Number of portfolio companies                                 |                     |            |                       | 113        |                                       |
| Average annual EBITDA of portfolio companies                  |                     | $50.4 million   |
| Median annual EBITDA of portfolio companies                   |                     | $36.3 million   |
| Purchased at a weighted average price of par                  |                     | 98.13      | %                     |
| Gross annual portfolio yield based upon the purchase price(3) |                     | 8.62       | %                     |

|                                    |  |                  |                 |                        |               |                                       |                 |                  |   |                        |               |                                       |   |                 |  |  |            |                 |  |  |             |   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------|--|------------------|-----------------|------------------------|---------------|---------------------------------------|-----------------|------------------|---|------------------------|---------------|---------------------------------------|---|-----------------|--|--|------------|-----------------|--|--|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                    |  | March 31, 2022   |                 | December 31, 2021      |
| Interest Rate Allocation           |  | Investments Cost |                 | Investments Fair Value |               | Percentage ofInvestmentPortfolio |                 | Investments Cost |   | Investments Fair Value |               | Percentage ofInvestmentPortfolio |
| Floating interest rate investments |  | $                | 1,539,482  |                        |               | $                                     | 1,474,698  |                  |   | 84.8              | %             |                                       | $ | 1,454,429  |  |  | $          | 1,403,097  |  |  | 84.2   | % |
| Fixed interest rate investments    |  | 175,308     |                 |                        | 170,264  |                                       |                 | 9.8         | % |                        | 176,326  |                                       |   | 172,162    |  |  | 10.3  | %               |
| Non-income producing investments   |  | 50,970      |                 |                        | 71,863   |                                       |                 | 4.1         | % |                        | 49,845   |                                       |   | 67,532     |  |  | 4.1   | %               |
| Other income producing investments |  | 23,562      |                 |                        | 22,709   |                                       |                 | 1.3         | % |                        | 23,787   |                                       |   | 23,331     |  |  | 1.4   | %               |
| Total investments                  |  | $                | 1,789,322  |                        |               | $                                     | 1,739,534  |                  |   | 100.0             | %             |                                       | $ | 1,704,387  |  |  | $          | 1,666,122  |  |  | 100.0  | % |

----

|                                                   |  |                        |                 |                                        |             |                        |              |                                        |                 |               |             |   |            |   |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------|--|------------------------|-----------------|----------------------------------------|-------------|------------------------|--------------|----------------------------------------|-----------------|---------------|-------------|---|------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                   |  | March 31, 2022         |                 | December 31, 2021                      |
| Industry Classification                           |  | Investments Fair Value |                 | Percentage ofInvestment Portfolio |             | Investments Fair Value |              | Percentage ofInvestment Portfolio |
| Services: Business                            |  | $                      | 320,042    |                                        |             | 18.4              | %            |                                        | $               | 240,316  |             |   | 14.4  | % |
| Healthcare & Pharmaceuticals                  |  | 244,993           |                 |                                        | 14.1   | %                      |              | 250,049                           |                 |               | 15.0   | % |
| Media: Diversified & Production           |  | 134,373           |                 |                                        | 7.7    | %                      |              | 139,399                           |                 |               | 8.4    | % |
| Services: Consumer                            |  | 121,488           |                 |                                        | 7.0    | %                      |              | 119,365                           |                 |               | 7.2    | % |
| Chemicals, Plastics & Rubber                  |  | 107,079           |                 |                                        | 6.2    | %                      |              | 109,860                           |                 |               | 6.6    | % |
| Diversified Financials                            |  | 101,597           |                 |                                        | 5.8    | %                      |              | 101,032                           |                 |               | 6.1    | % |
| High Tech Industries                              |  | 84,764            |                 |                                        | 4.9    | %                      |              | 65,544                            |                 |               | 3.9    | % |
| Capital Equipment                                 |  | 83,305            |                 |                                        | 4.8    | %                      |              | 82,795                            |                 |               | 5.0    | % |
| Media: Advertising, Printing & Publishing |  | 81,747            |                 |                                        | 4.7    | %                      |              | 94,610                            |                 |               | 5.7    | % |
| Consumer Goods: Durable                       |  | 57,098            |                 |                                        | 3.3    | %                      |              | 58,124                            |                 |               | 3.5    | % |
| Retail                                            |  | 57,066            |                 |                                        | 3.3    | %                      |              | 56,726                            |                 |               | 3.4    | % |
| Hotel, Gaming & Leisure                       |  | 51,909            |                 |                                        | 3.0    | %                      |              | 50,855                            |                 |               | 3.0    | % |
| Beverage, Food & Tobacco                      |  | 47,319            |                 |                                        | 2.7    | %                      |              | 49,054                            |                 |               | 2.9    | % |
| Banking, Finance, Insurance & Real Estate     |  | 40,233            |                 |                                        | 2.3    | %                      |              | 40,634                            |                 |               | 2.4    | % |
| Aerospace & Defense                           |  | 38,484            |                 |                                        | 2.2    | %                      |              | 38,279                            |                 |               | 2.3    | % |
| Energy: Oil & Gas                         |  | 37,073            |                 |                                        | 2.1    | %                      |              | 32,164                            |                 |               | 1.9    | % |
| Consumer Goods: Non-Durable                   |  | 36,984            |                 |                                        | 2.1    | %                      |              | 45,682                            |                 |               | 2.7    | % |
| Construction & Building                       |  | 27,270            |                 |                                        | 1.6    | %                      |              | 27,585                            |                 |               | 1.7    | % |
| Telecommunications                                |  | 24,710            |                 |                                        | 1.4    | %                      |              | 24,649                            |                 |               | 1.5    | % |
| Automotive                                        |  | 17,851            |                 |                                        | 1.0    | %                      |              | 14,367                            |                 |               | 0.9    | % |
| Transportation: Cargo                         |  | 13,141            |                 |                                        | 0.8    | %                      |              | 14,106                            |                 |               | 0.8    | % |
| Metals & Mining                               |  | 11,008            |                 |                                        | 0.6    | %                      |              | 10,927                            |                 |               | 0.7    | % |
|                                                   |  |                        |                 |                                        |             |                        |              |                                        |
|                                                   |  |                        |                 |                                        |             |                        |              |                                        |
|                                                   |  |                        |                 |                                        |             |                        |              |                                        |
|                                                   |  |                        |                 |                                        |             |                        |              |                                        |
|                                                   |  |                        |                 |                                        |             |                        |              |                                        |
| Subtotal/total percentage                     |  | 1,739,534         |                 |                                        | 100.0  | %                      |              | 1,666,122                         |                 |               | 100.0  | % |
| Short term investments                            |  | 15,763            |                 |                                        |        |                        | 87,917  |                                        |                 |               |
| Total investments                                 |  | $                      | 1,755,297  |                                        |             |                        |              | $                                      | 1,754,039  |               |             |   |

----

|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                         |  |  |  |  |  |  |
|-------------------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
| Investment Rating |  | Description                                                                                                                                                                                                                                                                                                                                                                                             |
| 1                 |  | Indicates the least amount of risk to our initial cost basis. The trends and risk factors for this investment since origination or acquisition are generally favorable, which may include the performance of the portfolio company or a potential exit.                                                                                                                                                 |
| 2                 |  | Indicates a level of risk to our initial cost basis that is similar to the risk to our initial cost basis at the time of origination or acquisition. This portfolio company is generally performing in accordance with our analysis of its business and the full return of principal and interest or dividend is expected.                                                                              |
| 3                 |  | Indicates that the risk to our ability to recoup the cost of such investment has increased since origination or acquisition, but full return of principal and interest or dividend is expected. A portfolio company with an investment rating of 3 requires closer monitoring.                                                                                                                          |
| 4                 |  | Indicates that the risk to our ability to recoup the cost of such investment has increased significantly since origination or acquisition, including as a result of factors such as declining performance and noncompliance with debt covenants, and we expect some loss of interest, dividend or capital appreciation, but still expect an overall positive internal rate of return on the investment. |
| 5                 |  | Indicates that the risk to our ability to recoup the cost of such investment has increased materially since origination or acquisition and the portfolio company likely has materially declining performance. Loss of interest or dividend and some loss of principal investment is expected, which would result in an overall negative internal rate of return on the investment.                      |

|                   |  |                       |                 |                                   |            |                       |   |                                   |   |                 |            |   |             |   |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------|--|-----------------------|-----------------|-----------------------------------|------------|-----------------------|---|-----------------------------------|---|-----------------|------------|---|-------------|---|--|--|--|--|--|--|--|--|--|--|--|--|
|                   |  | March 31, 2022        |                 | December 31, 2021                 |
| Investment Rating |  | InvestmentsFair Value |                 | Percentage ofInvestment Portfolio |            | InvestmentsFair Value |   | Percentage ofInvestment Portfolio |
| 1                 |  | $                     | 45,685     |                                   |            | 2.6              | % |                                   | $ | 47,221     |            |   | 2.8    | % |
| 2                 |  | 1,499,344        |                 |                                   | 86.2  | %                     |   | 1,373,509                    |   |                 | 82.5  | % |
| 3                 |  | 183,674          |                 |                                   | 10.6  | %                     |   | 233,223                      |   |                 | 14.0  | % |
| 4                 |  | 6,952            |                 |                                   | 0.4   | %                     |   | 8,201                        |   |                 | 0.5   | % |
| 5                 |  | 3,879            |                 |                                   | 0.2   | %                     |   | 3,968                        |   |                 | 0.2   | % |
|                   |  | $                     | 1,739,534  |                                   |            | 100.0            | % |                                   | $ | 1,666,122  |            |   | 100.0  | % |

----

|                                                               |  |               |  |                       |                 |                                       |             |            |   |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------|--|---------------|--|-----------------------|-----------------|---------------------------------------|-------------|------------|---|--|--|--|--|--|--|--|--|--|--|--|
|                                                               |  |               |  | Investments FairValue |                 | Percentage ofInvestmentPortfolio |
| Senior secured first lien debt                                |  |               |  | $                     | 1,666,700  |                                       |             | 92.2  | % |
| Senior secured second lien debt                               |  |               |  | 36,875           |                 |                                       | 2.0    | %          |
|                                                               |  |               |  |                       |                 |                                       |
| Collateralized securities and structured products - equity    |  |               |  | 2,631            |                 |                                       | 0.2    | %          |
| Unsecured debt                                                |  |               |  | 26,657           |                 |                                       | 1.5    | %          |
| Equity                                                        |  |               |  | 74,241           |                 |                                       | 4.1    | %          |
| Subtotal/total percentage                                 |  |               |  | 1,807,104        |                 |                                       | 100.0  | %          |
| Short term investments(2)                                     |  |               |  | 22,417           |                 |                                       |             |
| Total investments                                             |  |               |  | $                     | 1,829,521  |                                       |             |            |
| Number of portfolio companies                                 |  |               |  | 119              |                 |
| Average annual EBITDA of portfolio companies                  |  | $45.2 million |
| Median annual EBITDA of portfolio companies                   |  | $31.6 million |
| Purchased at a weighted average price of par                  |  |               |  |                       |                 | 98.15                            | %           |
| Gross annual portfolio yield based upon the purchase price(2) |  |               |  |                       |                 | 8.83                             | %           |

|                                                                     |                             |              |      |              |   |              |  |  |  |  |  |
|---------------------------------------------------------------------|-----------------------------|--------------|------|--------------|---|--------------|--|--|--|--|--|
|                                                                     | Three Months EndedMarch 31, |
|                                                                     | 2022                        |              | 2021 |
| Investment income                                                   | $                           | 41,683  |      |              | $ | 36,303  |  |
| Operating expenses and income taxes                                 | 22,200                 |              |      | 18,704  |   |
| Net investment income after taxes                                   | 19,483                 |              |      | 17,599  |   |
| Net realized loss on investments and foreign currency               | (69)                        |              |      | (4,128)      |   |
| Net change in unrealized (depreciation) appreciation on investments | (11,525)                    |              |      | 36,243  |   |
|                                                                     |                             |              |      |
|                                                                     |                             |              |      |
| Net increase in net assets resulting from operations                | $                           | 7,889   |      |              | $ | 49,714  |  |

----

|                                           |                             |              |      |               |   |              |  |  |  |  |  |
|-------------------------------------------|-----------------------------|--------------|------|---------------|---|--------------|--|--|--|--|--|
|                                           | Three Months EndedMarch 31, |
|                                           | 2022                        |              | 2021 |
| Management fees                           | $                           | 6,655   |      |               | $ | 7,783   |  |
| Administrative services expense           | 720                    |              |      | 684      |   |
| Subordinated incentive fee on income      | 4,133                  |              |      | —  |   |
| General and administrative                | 2,222                  |              |      | 2,678    |   |
| Interest expense                          | 8,459                  |              |      | 7,548    |   |
| Income tax expense, including excise tax  | 11                     |              |      | 11       |   |
| Total operating expenses and income taxes | $                           | 22,200  |      |               | $ | 18,704  |  |
|                                           |                             |              |      |
|                                           |                             |              |      |

|                                          |                             |             |      |           |   |             |  |  |  |  |  |
|------------------------------------------|-----------------------------|-------------|------|-----------|---|-------------|--|--|--|--|--|
|                                          | Three Months EndedMarch 31, |
|                                          | 2022                        |             | 2021 |
| Professional fees                        | $                           | 633    |      |           | $ | 1,265  |  |
| Dues and subscriptions                   | 535                    |             |      | 169  |   |
| Transfer agent expense                   | 291                    |             |      | 422  |   |
| Insurance expense                        | 251                    |             |      | 132  |   |
| Valuation expense                        | 179                    |             |      | 252  |   |
| Accounting and administrative costs      | 157                    |             |      | 237  |   |
| Director fees and expenses               | 154                    |             |      | 103  |   |
| Printing and marketing expense           | 5                      |             |      | 44   |   |
|                                          |                             |             |      |
| Other expenses                           | 17                     |             |      | 54   |   |
| Total general and administrative expense | $                           | 2,222  |      |           | $ | 2,678  |  |

----

----

----

----

----

|                                                             |  |                                               |  |                                          |               |   |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|-----------------------------------------------|--|------------------------------------------|---------------|---|--|--|--|--|--|--|--|--|
| Basis Point Change in Interest Rates                        |  | Increase (Decrease) in Net Interest Income(1) |  | Percentage Change in Net Interest Income |
|                                                             |  |                                               |  |                                          |
|                                                             |  |                                               |  |                                          |
| Down 50 basis points                                        |  | 2,960                                    |  |                                          | 2.6      | % |
| No change to current base rate (0.60% as of March 31, 2022) |  | —                                  |  |                                          | —  |   |
| Up 50 basis points                                          |  | (643)                                         |  |                                          | (0.6)         | % |
| Up 100 basis points                                         |  | 2,702                                    |  |                                          | 2.4      | % |
| Up 200 basis points                                         |  | 10,321                                   |  |                                          | 9.0      | % |
| Up 300 basis points                                         |  | 18,334                                   |  |                                          | 16.0     | % |

----

----

----

|               |  |                                                                                                                                                                                                                                                                                                                                                                      |  |  |  |  |  |  |
|---------------|--|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
| ExhibitNumber |  | Description of Document                                                                                                                                                                                                                                                                                                                                    |
| 2.1           |  | Purchase and Sale Agreement, dated as of September 30, 2016, by and between Park South Funding, LLC and Credit Suisse Alternative Capital, LLC (Incorporated by reference to Exhibit 2.1 to Registrant’s Current Report on Form 8-K filed with the SEC on October 4, 2016 (File No. 814-00941)).                                                               |
|               |  |                                                                                                                                                                                                                                                                                                                                                                      |
| 3.1           |  | Third Articles of Amendment and Restatement of the Articles of Incorporation of CĪON Investment Corporation (Incorporated by reference to Exhibit A to Registrant’s Definitive Proxy Statement on Schedule 14A filed with the SEC on May 13, 2021 (File No. 814-00941)).                                                                                  |
| 3.2           |  | Articles of Amendment to the Third Articles of Amendment and Restatement of the Articles of Incorporation of CĪON Investment Corporation (Incorporated by reference to Exhibit 3.1 to Registrant’s Current Report on Form 8-K filed with the SEC on September 16, 2021(File No. 814-00941)).                                                              |
| 3.3           |  | Bylaws of CĪON Investment Corporation (Incorporated by reference to Exhibit (B) to Pre-Effective Amendment No. 4 to Registrant’s Registration Statement on Form N-2 filed with the SEC on June 29, 2012 (File No. 333-178646)).                                                                                                                           |
|               |  |                                                                                                                                                                                                                                                                                                                                                                      |
| 4.1           |  | Fifth Amended and Restated Distribution Reinvestment Plan of CĪON Investment Corporation (Incorporated by reference to Exhibit 4.1 to Registrant’s Current Report on Form 8-K filed with the SEC on December 8, 2016 (File No. 814-00941)).                                                                                                               |
| 4.2           |  | Distribution Reinvestment Plan of CĪON Investment Corporation (Incorporated by reference to Exhibit 4.1 to Registrant’s Current Report on Form 8-K filed with the SEC on September 16, 2021 (File No. 814-00941)).                                                                                                                                        |
| 4.3           |  | Description of Registrant’s Securities (Incorporated by reference to Exhibit 4.4 to Registrant’s Annual Report on Form 10-K filed with the SEC on March 10, 2022 (File No. 814-00941)).                                                                                                                                                                  |
| 10.1          |  | Second Amended and Restated Investment Advisory Agreement, dated as of October 5, 2021, by and between CĪON Investment Corporation and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on October 5, 2021 (File No. 814-00941)).                             |
|               |  |                                                                                                                                                                                                                                                                                                                                                                      |
| 10.2          |  | Third Amended and Restated Expense Support and Conditional Reimbursement Agreement, dated as of December 9, 2020, by and between CĪON Investment Corporation and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on December 15, 2020 (File No. 814-00941)). |
|               |  |                                                                                                                                                                                                                                                                                                                                                                      |
|               |  |                                                                                                                                                                                                                                                                                                                                                                      |
| 10.3          |  | Sale and Contribution Agreement, dated as of August 26, 2016, by and between 34th Street Funding, LLC and CĪON Investment Corporation (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K filed with the SEC on September 1, 2016 (File No. 814-00941)).                                                      |
| 10.4          |  | Master Participation Agreement, dated as of August 26, 2016, by and between 34th Street Funding, LLC and CĪON Investment Corporation (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on September 1, 2016 (File No. 814-00941)).                                                       |

----

|               |  |                                                                                                                                                                                                                                                                                                                                                                              |  |  |  |  |  |  |
|---------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
| ExhibitNumber |  | Description of Document                                                                                                                                                                                                                                                                                                                                            |
| 10.5          |  | Amended and Restated Portfolio Management Agreement, dated as of September 30, 2016, by and among 34th Street Funding, LLC, CION Investment Management, LLC and JPMorgan Chase Bank, National Association (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on October 4, 2016 (File No. 814-00941)). |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
| 10.6          |  | Contribution Agreement, dated as of May 19, 2017, by and among CION Investment Corporation, Murray Hill Funding, LLC and Murray Hill Funding II, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).                                                                   |
| 10.7          |  | Murray Hill Funding II, LLC Class A Notes Due 2027 (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).                                                                                                                                                                     |
| 10.8          |  | Contribution Agreement, dated as of May 19, 2017, by and among UBS AG, London Branch, Murray Hill Funding II, LLC, U.S. Bank National Association, Murray Hill Funding, LLC and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).        |
| 10.9          |  | October 2000 Version Global Master Repurchase Agreement, by and between UBS AG and Murray Hill Funding, LLC, together with the related Annex and Master Confirmation thereto, each dated as of May 19, 2017 (Incorporated by reference to Exhibit 10.5 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).            |
| 10.10         |  | Collateral Management Agreement, dated as of May 19, 2017, by and between CION Investment Management, LLC and Murray Hill Funding II, LLC (Incorporated by reference to Exhibit 10.6 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).                                                                              |
| 10.11         |  | Collateral Administration Agreement, dated as of May 19, 2017, by and among Murray Hill Funding II, LLC, CION Investment Management, LLC and U.S. Bank National Association (Incorporated by reference to Exhibit 10.7 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).                                            |
| 10.12         |  | Murray Hill Funding II, LLC Class A Notes Due 2027 (Incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed with the SEC on December 7, 2017 (File No. 814-00941)).                                                                                                                                                             |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
|               |  |                                                                                                                                                                                                                                                                                                                                                                              |
| 10.13         |  | Administration Agreement, dated as of April 1, 2018, by and between CĪON Investment Corporation and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on April 3, 2018 (File No. 814-00941)).                                                                          |

----

|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  |  |  |  |  |  |
|---------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
| ExhibitNumber |  | Description of Document                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.14         |  | Second Amended and Restated Loan and Security Agreement, dated as of May 15, 2020, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on May 21, 2020 (File No. 814-00941)).                                                                      |
| 10.15         |  | Fourth Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, dated as of December 17, 2020, by and between Murray Hill Funding, LLC and UBS AG (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).                                                                                                                            |
| 10.16         |  | Revolving Credit Note Agreement, dated as of December 17, 2020, by and among Murray Hill Funding II, LLC, Murray Hill Funding, LLC, U.S. Bank National Association, and the Class A-R Noteholders (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).                                                                                                       |
| 10.17         |  | Murray Hill Funding II, LLC Class A-R Notes Due 2027 (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).                                                                                                                                                                                                                                                    |
| 10.18         |  | Second Amended and Restated Indenture, dated as of December 17, 2020, by and between Murray Hill Funding II, LLC and U.S. Bank National Association (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).                                                                                                                                                     |
| 10.19         |  | Master Confirmation to the Global Master Repurchase Agreement (Class A-R Notes), dated as of December 17, 2020, by and between Murray Hill Funding, LLC and UBS AG (Incorporated by reference to Exhibit 10.5 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).                                                                                                                                      |
| 10.20         |  | Note Purchase Agreement of CĪON Investment Corporation related to the 2026 Notes, dated as of February 11, 2021 (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on February 16, 2021 (File No. 814-00941)).                                                                                                                                                                                    |
| 10.21         |  | Third Amended and Restated Loan and Security Agreement, dated as of February 26, 2021, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on March 1, 2021 (File No. 814-00941)).                                                                 |
| 10.22         |  | Unsecured Term Loan Facility Agreement, dated as of April 14, 2021, by and between CĪON Investment Corporation and More Provident Funds Ltd. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on April 20, 2021 (File No. 814-00941)).                                                                                                                                                          |
| 10.23         |  | First Amendment to Third Amended and Restated Loan and Security Agreement, dated as of March 28, 2022, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on March 29, 2022 (File No. 814-00941)). |
| 10.24         |  | Unsecured Term Loan Facility Agreement, dated as of April 27, 2022, by and between CĪON Investment Corporation and More Provident Funds and Pension Ltd. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on April 27, 2022 (File No. 814-00941)).                                                                                                                                              |
| 31.1          |  | Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.*                                                                                                                                                                                                                                                                                                                                                                                         |
| 31.2          |  | Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.*                                                                                                                                                                                                                                                                                                                                                                                         |
| 31.3          |  | Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.*                                                                                                                                                                                                                                                                                                                                                                                            |
| 32.1          |  | Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                               |
| 32.2          |  | Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                               |
| 32.3          |  | Certification of Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                  |

----

|                                        |  |  |
|----------------------------------------|--|--|
| By: /s/ Michael A. Reisner |
| Michael A. Reisner                     |
| Co-Chief Executive Officer             |
| (Principal Executive Officer)          |

|                                |  |  |
|--------------------------------|--|--|
| By: /s/ Mark Gatto |
| Mark Gatto                     |
| Co-Chief Executive Officer     |
| (Principal Executive Officer)  |

|                                              |  |  |
|----------------------------------------------|--|--|
| By: /s/ Keith S. Franz           |
| Keith S. Franz                               |
| Chief Financial Officer                      |
| (Principal Financial and Accounting Officer) |